Tag: e-file

Invest your Tax Return

Invest your 2009 Tax Return

The IRS is offering an investment option if you are getting a refund for your 2009 taxes this year. You can transfer your tax refund for a US savings bond of up to $5,000. You can purchase a bond in any denomination of $50, remaining funds need to be directly deposited into a banking account.

It’s just that simple, when you file choose the US Savings Bond option and you will receive your bonds in the mail instead of a refund check. The official form is Form 8888, used to deposit your refund into more … Read the rest

Invest your 2009 Tax Return

The IRS is offering an investment option if you are getting a refund for your 2009 taxes this year. You can transfer your tax refund for a US savings bond of up to $5,000. You can purchase a bond in any denomination of $50, remaining funds need to be directly deposited into a banking account.

It’s just that simple, when you file choose the US Savings Bond option and you will receive your bonds in the mail instead of a refund check. The official form is Form 8888, used to deposit your refund into more than one account. Tax preparation software packages like TurboTax and TaxAct provide the form for you when you indicate that you want to purchase one of the bonds.

The Form 8888 also has instructions if you are completing for the form by hand. This is a nice option if you would be investing the money into a savings account as the bonds provide a better rate of return on average.

Benefits of e-Filing Your Return

Benefits of e-Filing Your Return

Last year nearly 67% of federal tax returns were submitted to the IRS by electronic transfer, or e-file. The IRS likes tax returns to come in electronic format as it is easier for them to process and recently provided a list of benefits for you to consider.

The speed with which your return can be sent, processed, and a refund sent to you is much better when you file your federal return electronically. The IRS is also able to correct your information if there happens to be a missed calculation on the return. Ten days … Read the rest

Benefits of e-Filing Your Return

Last year nearly 67% of federal tax returns were submitted to the IRS by electronic transfer, or e-file. The IRS likes tax returns to come in electronic format as it is easier for them to process and recently provided a list of benefits for you to consider.

The speed with which your return can be sent, processed, and a refund sent to you is much better when you file your federal return electronically. The IRS is also able to correct your information if there happens to be a missed calculation on the return. Ten days is a standard turn-around if you file this way and request direct deposit into a checking account.

The IRS maintains strict security on their transferred communications and feels your information is entirely safe filing electronically. And once your return is received by the IRS your tax preparer or tax preparation software, like TurboTax or TaxAct, will let you know it was received. Then you can monitor its progress to know when your refund will be coming.

Finally, if you do happen to owe taxes, you can e-file immediately when your return is complete and wait until the end of the tax season to send the IRS the amount due. And state returns are often able to be transmitted with the same benefits you will enjoy from your federal tax electronic filing.

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