ROCHESTER, N.Y. (WROC) — There are lots of advantages to e-filing your 2020 tax return. Certified Public Accountant Matt Bryant of the New York State Society of CPAs discussed the process and the benefits of filing electronically on Thursday morning.
Bryant said you can complete your income tax return online. This represents a great incentive for filers who usually pay for an accountant or tax software. You can use a digital signature and Free File software to file both with the IRS and New York State.
There are many advantages of e-filing. Calculations are automated, taxpayers receive confirmation that their income tax returns have been received, and refunds may by received up to two weeks sooner.
Free File software is available online by the New York State Department of Taxation and Finance website. Taxpayers who made $72,000 or less in 2020 are eligible. For those who make more than $72,000, the site lists approved, paid software options for taxpayers to e-file their returns. Data entry is available now, but filing starts February 12.
A taxpayer with questions about their income tax returns should consult with a trusted CPA.
The Link LonkFebruary 05, 2021 at 02:55AM
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