The June 9th IRS headline read “One Billion Served: IRS E-File Passes Major Milestone” (see news release IR-2011-64). The IRS has tallied the number of tax returns filed electronically since the e-file program began back in 1986, and the number has recently crept above one billion, including a whopping 100 million during the 2011 filing season. These days nearly 80% of all taxpayers file their returns electronically. If you employ a tax preparer to file your taxes, your tax preparer may be required to e-file, depending on the number of returns he/she files. This has definitely contributed to the success of the program.
According to the IRS, e-filing benefits both the taxpayers and the government. Taxpayers get faster refunds and more accurate returns, and the government spends less money processing them; according to the IRS, up to 20 times less. Cheaper and quicker – maybe the IRS is following in the footsteps of McDonald’s. Now if they could only process a return in the amount of time it takes to build a Big Mac. Then they they’d really have something.