The IRS is a subdivision of the United States Department of the Treasury. It is one of the world’s largest tax collection organizations. The IRS processes an average of over 200 million tax returns each year and, in 2010, it collected over 2 trillion dollars in revenue. According to the IRS, it costs approximately 53 cents for them to collect each $100.00. The official IRS.gov website has an estimated value of over $1,000,000 making it one of the most valuable, non-real property assets of the American people.
The IRS is authorized to carry out its revenue collection responsibilities under section 7801 of the Internal Revenue Code. Rules made by the IRS under this authority have the same force of law as a statute enacted by the United States Congress. The physical address of the headquarters of the Internal Revenue Service is 1111 Constitution Avenue, N.W., Washington, D.C. 20224
The IRS initiated a trial test of its electronic filing program in the late 1980s. A few years later, e-filing was expanded to the national level. In 2011, nearly 100 million taxpayers filed their tax returns electronically. Since 1990, taxpayers have e-filed nearly 1 billion Form 1040 tax returns by e-filing.
There is no cost to efile your taxes as far as the IRS is concerned. Some companies do charge for that service but if you do your on taxes with any of the tax preparation software, you can efile for free. Many other tax preparers also efile your taxes for free. In fact, the free efiling is so prevalent, there is simply no reason why you would ever pay someone to efile your return for you.
When you efile your taxes, you are required to electronically sign your return. To do so, you must pre-register with the IRS and receive an “Electronic Filing PIN”. You may obtain this online at IRS.gov or you may obtain it by calling 1/866-704-7388. Of course, if you use a tax preparation service, they should take care of this detail for you. There are also electronic payment options if you have a balance owed when you finalize your return.
You may also file your State return electronically in 37 states and the District of Columbia. For a list of the States, click here.
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For more information, see www.irs-gov-efile.webs.com