Pros And Cons of E-Filing

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

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