Electronic Filing Off To Strong Start

WASHINGTON — The Internal Revenue Service announced that e-file is off to a fast start in 2008 with more than 38 million tax returns filed electronically so far.

The 2008 e-file level is up 5 percent from the 36 million returns filed for the same period last year, with double digit growth coming from taxpayers filing from their home computers.

“E-filing continues to be the preferred way to file your tax return. It is the fast, easy, safe and more accurate way to file your tax return,” said IRS Acting Commissioner Linda E. Stiff.

According to the new filing season statistics for the week ending Feb. 22, 2008, one of the biggest areas of growth is returns electronically filed from home computers. More than 12.3 million returns were filed from home, an increase of almost 14 percent from the same time last year.

Overall, 46.9 million tax returns have been filed so far in 2008, a 1.5 percent increase from the 46.2 million returns that had been filed at the same point in 2007.

As for the total amount of all refunds, $106.7 billion has been issued so far in 2008 with the average refund amount of $2,708, up two percent from the same time last year. So far this year, the IRS has directly deposited 33 million refunds out of the total of 39 million refunds. The direct deposit refunds were valued at just over $96 billion with the average amount of a direct deposit refund of $2,900.

The IRS reminds taxpayers who have not filed their 2007 returns yet that direct deposit is the fastest way to get both regular refunds and economic stimulus payments. These stimulus payments will be direct deposited for those eligible filers who select that option when filing their 2007 tax returns. For more information on the economic stimulus payment go to IRS.gov.

People are visiting the IRS Web site at IRS.gov in record numbers. The IRS has recorded more than 72 million unique visits to IRS.gov this year, up from about 67 million for the same period last year, an increase of 8 percent.

2008 FILING SEASON STATISTICS
Cumulative through the weeks ending 2/23/07 and 2/22/08
Individual Income Tax Returns	2007		2008		% Change
Total Receipts	46,244,000		46,918,000		1.5%
Total Processed	41,905,000		42,866,000		2.3%
E-filing Receipts:
TOTAL	36,233,000		38,059,000		5.0%
Tax Professionals	25,363,000		25,699,000		1.3%
Self-prepared	10,870,000		12,360,000		13.7%
Web Usage:
Visits to IRS.gov	67,104,000		72,596,000		8.2%
Total Refunds:
Number	38,622,000		39,387,000		2.0%
Amount	$102.552	Billion	$106.651	Billion	4.0%
Average refund	$2,655		$2,708		2.0%
Direct Deposit Refunds:
Number	31,586,000		33,131,000		4.9%
Amount	$91.262	Billion	$96.071	Billion	5.3%
Average refund	$2,889		$2,900		0.4%

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Tax Return Online Saves Time And Energy

Returning tax on time is everyone’s moral duty. Even today people are earning heavy amounts; they hesitate to pay their income return. Every year names of many prominent people are flashed on the television and newspaper who do not return their income on time. Even a well educated people show their back when time comes to return their tax. There are many people who play tricks when the date approaches. People very cleverly hide their income. There are a section of people who is ready to pay their income return but the entire procedure of filling forms and to go to the tax return office upsets them. With the advent of tax return online, people can very easily pay their tax.

Tax return season is very hectic for any income tax officer. They are tightly packed with accounting; book keeping and income return preparation work. During this season, accountants do not get time to relax. There are many private firms that provide excellent service to their clients and also earn huge amounts of revenue. There service is hassle-free and it saves time and money. Undertaking tax return online services help the client to get quality work using less manpower. Therefore, clients can use their resources in other areas and generate new business. A reputed tax return online company promises full security. Before they handover the income return work to any professional, they verify the background of the person properly. No employee belongings are permitted inside the work premises and they also do not have access to printers or any other removable media devices.

Tax return online is hassle-free and one need not have to struggle with pen, paper and stamp. There are many people who wonder whether tax retuning online would be safe or not. But, one need not have to worry because there are many security measures against theft and people can rely on this online service totally. With the upcoming of this modern service, people can very easily return their income. The method is quite safe and easy to access. There are also some services that offer optional live chat programs, so that you can ask your questions directly to an expert. It is within the reach of all and online tax service saves time and energy. People need not have to bear the rush of returning income in the income tax office. Now, people can pay their tax sitting anywhere according to their convenience.

Tax return online is very modern and it is within the reach of all. If you are totally inexperienced in returning your income online then there are many websites that will guide you how to proceed. There are several sites on the web where you can calculate your income return. Tax return online is very easy and saves your valuable time. There is less possibility of any sort of mistakes. Now, you need not have to make any prior plan to return your income. The process takes place very fast and it is free from any error.

By: Michelle Barkley

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Michelle Barkley is a CPA who advises people on tax preparation and tax calculation.She specializes in Tax return outsourcing,Tax return online and Outsourced Accounting.To know more about Accounting outsourcing services and accounting outsourcing in India and to use the services visit www.ifrworld.com

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