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If you haven't tried efile yet, you're in a shrinking minority. According to recently released IRS statistics, electronically filed tax returns continue to grow in popularity, as well as the use of home computers to file those returns.
eFile Statistics
In its first release of tax filing statistics of 2006, the IRS found that as of March 3, 2006, more than 39 million taxpayers have efiled their return this year. The IRS has also found that the use of home computers to prepare and file taxes is up 16.5%; while efiling via tax professionals is up close to 4%.
Of even more interest is the overall use of efile to replace paper tax forms. As of March, 73% of the total returns filed with the IRS were filed electronically.
Efiling with Credit Cards and Direct Deposit
The IRS also reports that taxpayers are embracing other electronic means to aid them in the process of filing their taxes. This includes the widespread acceptance of direct deposit for tax refunds, and credit cards to pay taxes owed. In particular:
- Nearly 34 million individual income tax refunds have been directly deposited into bank accounts. This represents 76% of all tax refunds processed in 2006.
- Nearly 630,000 credit card payments were made by taxpayers so far in 2006. That's an increase of 41% over the same period last year.
- The total payments charged to credit cards increased 48% to over $350 million, which is an average of just over $560 per taxpayer using a credit card to pay taxes due.
Efiling Taxes
Efiling your taxes is not just convenient, it's a structured process that can save you time and money by walking you through tax forms and finding those hidden tax deductions for you. Best of all, you can even efile your taxes for free.
If you want to learn more about efiling your taxes, you can check out our article on efile hints. You can also find a complete listing of free efile providers by visiting the IRS Free File website.
About the Author - Filing Taxes Using Efile 2006
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