E-Filing Your Taxes
Tips and warnings for online taxpayers
With the April deadline approaching quickly, many Missourians are thinking about filing taxes. Taxpayers can be at ease, however, because the Internal Revenue Service offers a convenient e-filing option.
According to the IRS, filing income taxes online results in faster refunds, greater accuracy and quicker confirmation, giving taxpayers assurance during a usually stressful time. Other benefits include secure and confidential submission, a “file now, pay later” option, 24/7 access, and the ability to confidentially save tax information for next year. Because of these benefits, the popularity of e-filing is increasing dramatically.
The IRS also considers e-filing to be the most secure method of handling sensitive tax information because of secure online submission. The lack of paper trails associated with e-filing prevents tax forms from getting lost in the mail and therefore inhibits the increased risk of identity theft, ultimately ensuring the safety of last-minute filing.
Despite its acclaimed safety, many Missourians may still have apprehensions when filing taxes online. For maximum security, follow a few safety measures:
Submit tax information only on secure websites. The Internet identifies secure websites with specific addresses and symbols. Make sure tax preparation Web addresses begin with “https://” to indicate a secure site. In addition, secure sites are identified with either a closed padlock or unbroken key icon at the bottom of your Web browser.
Select a reputable provider. Well-known companies such as H&R Block, TaxACT and TurboTax all have credible options for filing online. For a more extensive list of e-file providers authorized and supported by the IRS, visit www.irs.gov. Nearly all e-file providers charge a small fee.
Use secure passwords. Choose a password with at least eight characters and a combination of both letters and numbers. Don't use commonly known information (such as a birth date, anniversary date or pet's name).
Remember to log out of tax preparation software. This is especially important if you are using a public or shared computer.
Tax preparation providers now offer different packages to better meet the needs of individuals, families and businesses. However, for some taxpayers there are a few situations where e-filing is not the best option. If in doubt, be sure to consult a tax professional in your area.