The Internal Revenue Service has announced that its e-file, direct deposit and e-payment programs are proving ever more popular with taxpayers as record numbers choose to the use the electronic systems over the more traditional, but time consuming, methods.
According to IRS figures, 49 million tax returns were filed electronically, a 7% increase from last year.
Overall, 64% of all returns were e-filed – up from 62% for the same period last year. While this percentage will decline as April 15 approaches, the IRS expects for the first time to have more than half of all individual tax returns filed electronically.
Also, this year has seen 3.74 million returns filed through the Free File program. This project administered by the IRS and a consortium of tax software manufacturers which offers free filing services to certain taxpayers has undergone a 43.7% jump in users from the 2.6 million returns filed through the program at this time last year.
Morover, the agency has reported that record numbers of taxpayers are choosing to pay their taxes by credit card, whilst refunds directly deposited into taxpayer bank accounts are also at an all time high.
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