Efiling 2020 tax and IRS Efile tax
What is the IRS’s Efile Program?
The IRS offers e-filing options that allow for the speedy and secure submission of tax returns online, including the individual income tax returns that many of us need to file each year.
There are a few different efiling 2020 options available when preparing your individual income tax return:
- IRS Free File allows for free e-filing of federal tax returns. If your income is $72,000 or below, you can take advantage of offers with IRS partner sites – some of these will include free state tax filing too. Regardless of income level, there are also the IRS’s Free File Fillable Forms. These allow for electronic preparation and filing for those who are comfortable doing their own taxes.
- In-person Free Tax Return Preparation Sites like VITA (Volunteer Income Tax Assistance) and TCE (Tax Counseling for the Elderly) offer free tax assistance and e-filing for qualifying taxpayers.
- Commercial Software and Online Services can help guide you through the process of preparing and submitting your tax return. Fees will typically depend on the complexity of your financial situation. This option also allows for electronic preparation and filing.
- Tax Professionals can help guide you through the process of preparing and submitting your tax return, with more support and while answering any questions you may have.
Visit PriorTax.com today to learn about our online tax filing services and how we offer support at the intersection of online and personalized tax services.
What are the benefits of IRS e-file Tax?
There are three main benefits to using IRS e-File:
IRS E-file Tax Increases Convenience
- Increased Convenience: Using IRS e-File to file your tax return, you can avoid needing to make copies of your return and documents, visit the post office, and pay for postage.
IRS E-file Tax Increases Accuracy:
- Increased Accuracy: Using IRS e-File, you can minimize and avoid errors and miscalculations that can happen when manually filling out your tax paperwork. There are built-in accuracy checks, and the system can do calculations for you. Whether this goes beyond the basic calculations will depend on which option you choose. IRS e-File also avoids the chance for data-entry errors on the IRS’s end since they don’t need to re-enter your information into their system.
IRS E-file Tax Increases Speed of Processing
- Increased Speed of Processing: Using IRS e-File, you can receive acknowledgment of your filing in 24 hours or less, often in near real-time. No need to wait for your paper return to arrive at the IRS or the system processing cycle. Faster processing also means that if you are owed a refund from the IRS, that will be processed faster. Faster money back in your wallet. Combined with requesting your refund direct deposited to your designated bank account is the quickest route to a speedy tax refund.
Is IRS e-file safe?
IRS eFile uses encryption technology to make sure that all tax returns are protected and secure. To date, more than a billion tax returns have been e-filed and processed securely and safely. In addition, the IRS works with both states and tax industry leaders to ensure the continued security of the system.
When looking to use IRS eFile, make sure to use a reputable service. The IRS maintains a database of authorized e-file providers who are qualified to prepare, transmit and process e-file returns. It’s essential to do due diligence to ensure you are working with a reputable tax professional.
I need to amend my tax return. Is e filing my 2020 or 2019 return possible?
Yes. eFiling 2020 of Form 1040-X ‘Amended U.S. Individual Income Tax Return’ is available for both the 2020 and 2019 tax years. However, you need to have e-filed your original 2020 or 2019 tax return to be able to take advantage of this option.
Paper filing continues to also be an option for filing Form 1040-X. You can visit the IRS website to confirm the mailing address for mailing your Form 1040-X, which will differ depending on your situation and where you live.
After efiling my 2020 amended tax return, how can I check up on it?
The IRS website offers a “Where’s My Amended Return?” tool that can be used to check on the status of your amended return. This tool can be used for this year as well as the three prior years. You’re able to use this tool both if you prepared and submitted a paper Form 1040-X and if you filed electronically.
I haven’t filled my 2020 tax return yet. Is efiling my 2020 federal taxes still possible?
The IRS’s deadline to file 2020 tax returns has now passed, both the regular deadline (May 17th) and the extended deadline (October 15th) if you filed for an extension by May 17th. The main thing this means for you is that your 2020 tax return is now considered a prior year return.
There are some restrictions for prior year returns.
- Only current year tax returns can be filed using the IRS Free File program.
- E-filing isn’t available for prior year returns, like 2020 tax returns, when you use a self-preparation website. That means you would need to print and sign, then mail off your 2020 tax return.
However, as a registered tax preparer with the IRS, at PriorTax.com, we can assist with efiling 2020 tax returns. Just choose the CPA Review option when you file your 2020 tax return with us.
With a CPA Review, you will receive a personalized consultation with one of our certified public accounts. They are available to help you maximize your eligible deductions and credits to either boost your tax refund or reduce how much tax you owe.
Visit our website today to learn more about our full suite of services, including CPA Review. We’re here to help!
After Efiling my 2020 tax return, how can I check up on it?
The IRS website offers two options, the “Where My Refund?” tool and the IRS2Go app. You can use either option to check on the status of your tax return. To use these tools, you will need:
- your social security number or ITIN (individual taxpayer identification number),
- your filing status, and
- your exact tax refund amount.
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