NEW YORK, March 15 /PRNewswire/ -- According to the Internal Revenue Service (IRS), this year, most taxpayers and tax preparers will use IRS e-file to file their federal tax returns. As a result, Tax Day, or the deadline to file tax returns, has now become Cyber Tax Day. April 15, 2010 marks the first annual Cyber Tax Day with the IRS anticipating more than two-thirds (66 percent) of individual tax returns to be filed electronically.
Doug Shulman, IRS Commissioner, said "Electronic filing is more and more popular every year, and most taxpayers now e-file. IRS e-file means faster refunds. IRS e-file is safe, it's easy and everyone should try it."
According to the National Retail Federation (NRF), 54.4 percent of U.S. taxpayers will file their taxes online, up from 50.1 percent in 2007. Additionally, one-third (33.6 percent) of consumers will prepare their taxes using computer software. Most strikingly, nearly 40 percent of Americans will wait until the six weeks before April 15th to file with 15 percent waiting until the final two weeks.
TurboTax and H&R Block have the option of doing your taxes online or downloading software to your home computer. Both TurboTax Online and H&R Block Online allow you to try their services for free and pay only when you file. If your adjusted gross income is $57,000 or less in 2009, you can use TurboTax or H&R Block's Free File which provides free federal income tax preparation and electronic filing through a partnership with the IRS. In addition, TurboTax advertises that e-filing gets your federal refund in as little as 8 days with direct deposit.
Matthew Cheng, founder of CyberTaxDay.com, said "The easiest way to file your taxes is by using TurboTax and H&R Block online. Filing electronically saves you (as the taxpayer) money by eliminating paper processing and speeds up your tax refund. Even if you're planning a Tax Day Tea Party on April 15, you still need to file your taxes."
For more information, visit http://www.CyberTaxDay.com
Follow CyberTaxDay on Twitter http://www.twitter.com/cybertaxday for the Tax Tip of the Day.
SOURCE CyberTaxDay.com
Share this article