Pros And Cons of E-Filing
by AccountingWeb on
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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