Ways To E-File

For those who just want to get their tax returns over and done with, or who have relatively simple tax returns, filing electronically can be a great strategy. And, it is becoming more popular.

Just last year, IRS statistics showed a record 15 percent of the 119 million people who filed returns used computers or the IRS' TeleFile phone service to do so.

This year, the IRS expects even more people to use the Internet or the IRS' TeleFile service to file their returns, and for two good reasons: the results are more likely to be accurate since the calculation is done by computer rather than by the individual; and, those who are due money will get it within three weeks, about half the time paper returns take to get through the system. For those who want their tax refunds even faster, direct deposit is a popular option, cutting turnaround time to as little as one week.

There are several ways to file electronically.

A tax preparer can file a client's return electronically, for a fee of $30 to $50 above any preparation charges.

Do-it-yourselfers can try any of several tax preparation software packages in the $20 to $50 range which feature "free" filing with the cost of the software. Some of these are now on the Web.

For a look at a "torture-test" of two of the more popular tax software programs, read on. Or, find out more about services on the Web which offer filing online.

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Written by Sean Wolfe with graphic design by Dana Byerly