Majority of taxpayers prefer to file their taxes electronically. However, there are still about 20% of taxpayers who prefer to stick to the old way and paper file their returns. E filing was introduced for a reason. Today, this article is going to discuss why taxpayers should be e filing and not paper filing.
Auditing Decreasing
When taxpayer’s paper file their tax returns, they are more at risk of being audited. This is because paper filed returns contain errors. There may be spelling errors or mathematical errors. Whereas, when returns are filed electronically everything is done by a system, which reduces the chances of errors being made.
Faster Refunds
Paper returns take longer to process than e-filed returns. When taxpayers e-file their returns they can receive their refunds in as little as 21 days. Furthermore, they have the ability to be able to track their return during the entire process.
Check out our other post on filing your taxes from our Seattle CPA blog: “Things You Need to Know About Filing Taxes in 2014.”
Lower the Chance of Identity Theft Occurring
Your tax return contains all of the information one would need to steal your identity. Therefore, it is best to file it electronically. When you put your return in the mail, anything could happen. If someone gets a hold of that information, you can rest assured that they are not going to do anything good with it.
Closing Thoughts
Are you one of the taxpayers that are making this mistake? If so, you definitely need to try e-filing at least once. Many taxpayers are able to file their federal taxes free so you have nothing to lose by giving it a shot. If you’re interested in having us file for you, just get in touch with us at (425) 483-6600! We offer a wide range of tax services!