What Is eFile for Taxes and How It Benefits You

What Is eFile for Taxes and How It Benefits You

“In this world, nothing is certain but death and taxes.”

Do you know who wrote these famous words? It was Benjamin Franklin in 1789.

It was true over 200 years ago–and it’s still true today. No matter where you live or what you do for a living, you’re obligated to pay taxes.

One thing that has changed since 1789 is technology. Doing taxes online is the newest and easiest way to take care of this necessary task.

But exactly what is eFile, and how does it work? In this post, we’ll explain how to submit taxes online–and how it will make your life much easier.

What Is eFile?

Back in the old days, filing your taxes was a long and arduous process. It involved either a lengthy visit to an accountant’s office or filling out a stack of paperwork on your own.

Luckily, society and technology have evolved. It’s now possible to use specialized software or a designated website to file your taxes online.

eFile is exactly as it sounds–filing your tax return electronically. It’s safe, secure, and easy to do.

Benefits of Doing Taxes Online

Still not convinced about eFile? Here are 3 major benefits of filing your taxes online.

1. Easy to Do

Guess what? You don’t have to be an accountant or a mathematician to file an online tax return.

Using either tax software or an online website, you’ll be guided through a simple, step-by-step process. Along the way, you’ll learn how to fill out each required form and file for the appropriate exemptions and deductions.

You won’t have to make a single calculation–the program does all the math for you!

2. Get Your Refund Faster

If you know you’ll owe money when you file taxes, you’re probably not in too big of a hurry. But if you’re expecting a refund, no doubt you want to receive it as soon as possible.

When you eFile, the government receives your documents and starts working on them immediately. You can request your refund to be direct-deposited into your bank account.

In some cases, you can receive your refund in just a few days–much faster than waiting for a check in the mail.

3. Enhanced Security

You might feel anxious about the idea of placing so much personal information online. The last thing you want to worry about is identity theft or other types of cybercrime.

Lay those worries to rest. When you file an electronic tax return, it will move across a secure server as encrypted information. This ensures your personal information is as safe and secure as it can be.

Plus, there’s no chance of your tax return–or your refund check–getting lost in the mail.

Filing Your Taxes Online: Final Thoughts

So, what is eFile? Now you know.

Once you see how easy it is to file your taxes online, you’ll wonder why you didn’t try it sooner.

Would you like to learn more about business and finances? Check out our current education courses on the subject.

We also invite you to browse our blog for more solid advice on learning and earning.

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