- Filing your federal tax return electronically involves filling out all the same required forms you would do manually, either through the IRS website or a tax preparation program. The files are then submitted electronically online instead of mailing in a paper copy to the IRS. Even though you file your return and sign it electronically, you will still be required to mail in your W-2s and other supporting documentation separately.
- Your electronically filed return is processed much faster than a paper return. Filing electronically eliminates the time it takes for the U.S. Postal Service to get the return to the IRS processing center, where it must be sorted and manually verified. Instead, the IRS's computers verify the information on the tax return before receiving your supporting documentation, which accelerates the process. In general, electronically processing your tax return will take 10 to 14 days, according to the IRS's Publication 17, instead of four to six weeks for paper returns.
- How fast you get your tax refund depends on whether you use direct deposit or request a physical check. IRS Publication 17 says you can expect your electronically filed tax return refund in as little as 10 days if you accept the refund as a direct deposit, which can be distributed to up to three different checking or savings accounts. A paper check will take up to 11 weeks to arrive, even if you filed your return electronically.
- Filing your tax return electronically is a secure and almost paperless way to do your taxes. If you are not technically savvy, there is assistance through the IRS's website and various tax programs to make the electronic filing process as simple as possible. If you feel uncomfortable offering your bank account information to the government to receive a direct deposit refund, you will still get your refund check at least three weeks sooner with an electronic filing, compared with a paper return.
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