The Friday Flyer, January 23, 2009 - Article: Internal Revenue Service expands options for e-filing

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Internal Revenue Service expands options for e-filing

     The Internal Revenue Service announces an expanded IRS e-file program for 2008 federal tax returns, highlighted by new features that will allow expanded access to electronic filing and help people looking for faster refunds. Last year, the average refund was $2,429. New improvements to the 2009 Free File program will allow nearly all taxpayers to e-file for free.
     The benefits of e-file include:
     • Faster refunds – in as little as 10 days or less with a paperless return: E-file and direct deposit.
     • Accuracy – Math errors reduced to almost zero.
     • Security – E-filed returns are protected through encryption. Also, taxpayers receive an acknowledgement within 48 hours that the IRS has accepted their return.
     • Software is user friendly – Taxpayers can buy off the shelf, go directly online or use IRS Free File.
     • IRS Free File enables eligible taxpayers to file a federal tax return for free. It is a form of e-file, a free federal tax preparation and electronic filing program developed through a partnership between the IRS and the Free File Alliance LLC. The Alliance is a group of private-sector tax software companies.
     Free File benefits include: 20 different software options for taxpayers with an Adjusted Gross Income (AGI) of $56,000 or less; options in Spanish; and a brand new option called “Fillable Forms” which opens up Free File to virtually everyone, even those whose incomes exceed $56,000.
     Free File Fillable Tax Forms allows taxpayers to fill out and file their tax forms electronically, just as they would on paper. It does not include an “interview” process like the other Free File offerings, but it does allow taxpayers to enter data, perform basic math calculations.
     The fillable-forms option and the previously available “full service” Free File offerings are available only through the IRS.gov website. Taxpayers must use IRS.gov as a portal to be sure use is free.