How Filing Taxes Electronically Works

E-File Tax Preparation LongSchaefer

Nearly 156 million Americans filed their taxes electronically in 2019. That’s 14 million more than in 2009. Rather than mailing your paper forms to the IRS and waiting for a check to arrive, filing electronically keeps everything simple. Today’s blog from LongSchaefer explains how filing taxes electronically works.

Everything on Computer

Processing your income tax return and filing electronically means everything is done on the computer. When using electronic filing, many taxpayers don’t have to send forms to the IRS, particularly W-2 and 1099 forms. Some payroll companies keep electronic records that allow you to upload information automatically rather than filling in blanks. This process increases accuracy when LongSchaefer completes your tax return by computer.

Secure Connection to the IRS

Once we’re done preparing your return, it gets transmitted to the IRS through a secure connection. Sending the electronic files takes just a few moments instead of a few days through the mail. The IRS usually begins accepting returns in late January. If you come into our offices and we complete your return before then, we’ll keep your files on hand and then send them to the IRS on the first day the agency accepts returns. 

Notice of Acceptance of the Return

Within 48 hours, the IRS provides a notification that they accepted the return. We’ll contact you when we receive this confirmation. This is the first step of three if you’re expecting a refund. At this point, you can check the IRS website to find out when the agency approves the refund and then sends it. You’ll see a refund within 21 days in most cases.

Making Payments

Filing an income tax return electronically also means you can make payments electronically. You can choose which method you prefer, either with a direct payment made via a bank account or inputting your credit or debit card to pay a tax bill. The IRS can work with you and use an installment plan, provided you qualify and fill out the correct forms. LongSchaefer’s tax preparation pros guide you to select the best option for your situation if you must make payments to the IRS.

Tax Preparation at LongSchaefer

LongSchaefer is a firm believer in working smarter, not harder. We process forms and filings electronically and securely through our CPA/Tax Document Portal as well as through Tax Caddy. Electronic forms reduce errors, improve speed, and make processes more cost-effective for you and us. Contact LongSchaefer or call (513) 245-0300 for more information.

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May 2020 COVID-19 Update

In order to comply with the Ohio Health Department Order & CDC social distancing recommendations, our offices are closed until further notice. Rest assured that our established protocols and available technology will allow us to provide the same level of service and quality you expect from LongSchaefer during this time.

The SBA has announced details of how it’s helping small businesses through the Coronavirus outbreak. The IRS is sending payments to families affected by this crisis. 

Please click on our Coronavirus information pages for more information.