By Seven Weaver Producer
Consumer Reports
Tax season is hardly the favorite time of year for most people. But Consumer Reports says there is a way to take some of the sting out of filing your taxes--file electronically.Consumer Reports
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Stumble It!You can still file electronically either online or by using a store-bought or downloaded tax program. Whichever route you choose, Consumer Reports Money Adviser says there are definite benefits.
Historically, refunds from e-filed returns are processed in about 10 days. If you mail your return, it could take several weeks. And you’re also less likely to make a mistake when you e-file, so you’re less likely to get one of those scary letters from the IRS.
If you earn $54,000 or less, the IRS offers a free program for filing your federal returns electronically. Just go to IRS.gov and click on FreeFile, and you’ll find 19 tax-prep programs.
If you’re expecting money back and have it directly deposited to your bank, the IRS has a relatively new option where you can have it split among three different accounts.
Consumer Reports says another plus of filing through cyberspace is that not only do you get your refund quicker, but you also reduce the chances of having it lost or stolen en route.
If you owe the government money and you’re filing electronically, you can authorize the IRS to debit your bank account on the April 15th deadline, regardless of when you file. Uncle Sam also accepts credit and debit cards.
To get more details about payment options, go to IRS.gov and enter “electronic payment options for individuals” in the search engine window.
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