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What’s the Difference Between E-Filing and Paper Filing?

Last year, roughly 113 million people e-filed their federal returns during the tax season. By the end of this year’s tax season, that number will be even larger.

Although e-filing is the most popular way to file, some still wish to paper file their returns. Others, don’t have a choice and are required to paper file. Whether you want or need to paper file, you’ll first have to prepare your tax return(s). With RapidTax, you can prepare your return anytime.

E-Filing in 2014

Want to receive your refund as soon as possible? E-filing is the way to go, and much faster than paper filing. Electronically submitting your tax return is faster than paper filing. The IRS has stated “9 out of 10 e-file tax refunds would be processed within 21 days or less.”

Paper Filing in 2014

Although the majority of filers elect to e-file their tax return, there are the outliers. Some simply prefer taking the responsibility of mailing their tax return over filing online. Others, are required to paper file. The latter group not eligible to e-file include those without income to report (no AGI), those filing prior year tax returns, etc.

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IRS Accepting E-Filed Tax Returns

E-File Your 2014 Tax Return today!

The 2015 tax season began on January 20, 2015 and will end on April 15, 2015.

You can e-file your 2014 taxes with RapidTax throughout the 2015 tax season.

How to Get Your Refund Early in 2015 

Want your refund as quick as possible in 2015? We don’t blame you. Follow these steps to receive your refund as quickly as possible;

1. Get Organized: Gather together all your tax information, tax forms, etc. that you’ll need to prepare your tax return. You’ll avoid wasting hours of your time frantically searching for them last minute.

2. Create a RapidTax account: At the start of January, RapidTax will have the 2014 Tax Application aviable for users to enter their 2014 Tax Return information. With that said, create an account on RapidTax at the start of the new year and start entering your tax information.

3. Choose Direct Deposit: If you opt to have your tax refund direct deposited into your account than you’ll probably receive it within 21 days. Avoid having your refund mailed to you via an IRS check, it will take much longer.

4. E-File: Electronically filing is MUCH faster than paper filing. Thanks to sites like RapidTax, you can e-file your taxes with ease, avoid waiting for your tax return and refund to be processed via paper filing (and of course, you’ll be able to skip a trip to the post office).

5. Avoid Mistakes: If you mis-report information on your tax return, the IRS may reject your return or take longer processing your return. Either scenario will cause a delay in getting your refund. To avoid this from happening, double check the information you’ve entered before submitting your tax return.

E-File with RapidTax!

To get started on your 2014 taxes, create an account on RapidTax.

As always, our tax team is standing by to help you. Reach out by phone, email or chat with any questions you may have.

1/29/2014: Photo via Caden Crawford on Flickr