Pros And Cons of E-Filing

[1]The California Society of Certified Public Accountants has published a list detailing the pros and cons of the tax return e-filing process versus paper filing.

Here, in a nutshell, are their findings:

Pros of e-filing:

• Speedier processing time
  
• Nearly all forms available online, so most taxpayers can use the service
  
• Automatic extensions of time, including the second extension, may be filed on-line
  
• IRS quickly detects processing errors and sends information for required changes electronically
  
• Software is readily available through a number of sources

Cons of e-filing:

• Without a high-speed connection, preparation takes a longer time than expected
  
• Complete W-2 form information must be entered which is more time-consuming than simply attaching the forms to the paper return
  
• Software is not yet fully developed or made available to guide all businesses through the electronic filing system
  
• Tax returns for deceased taxpayers must still be filed manually
  
• The absence of a relationship with a tax professional may result in missed deductions or other errors