ROCHESTER, N.Y. (WROC) — There are lots of advantages to e-filing your 2020 tax return.
CPA Matt Bryant of the New York State Society of CPAs discussed the process and the benefits Thursday during News 8 at Sunrise.
Bryant said you can complete your income tax return for the IRS and New York State online with a digital signature and Free File software provides a great incentive.
Who is eligible for Free File software?
· Taxpayers with income of $72,000 or less in 2020
· Available for data entry now but filing starts Friday, February 12th
· Allows for E-Filing of your IRS and New York State income tax returns at no cost
Where is Free File software available?
· The New York State Department of Taxation and Finance web site at www.tax.ny.gov
What if you make more than $72,000?
· The web site lists approved software available for taxpayers to E-File their returns
· Will be able to E-Filing of your IRS and New York State income tax returns at a cost
What are the advantages of E-File?
· Calculations are automated
· Taxpayers receive confirmation that their income tax returns have been received
· Refunds may by received up to two weeks sooner
What if a taxpayer has questions about their income tax returns?
· A trusted certified public accountant can be a great resource for income tax returns