filing is the electronic transmission of tax return data to the
In 1985, the IRS began accepting, on a limited
basis, tax returns in this new electronic format. In the first year
of electronic filing, they accepted 20,000 tax returns. Last year,
over 18.4 million returns were electronically filed using the IRS's
standard e-filing format.
The number of electronically filed returns is
sure to grow substantially in the coming years as the IRS implements
provisions enacted by Congress to encourage electronic filing.
To ensure the accuracy of the transmissions, a
transmitter must be tested every year to prove they can reliably
transmit tax returns to the appropriate IRS Service Center.
* The statement above
that the "Direct Deposit Is Free!" is correct to
the point that the IRS does not charge the taxpayer for directly
depositing their refund into their bank account. The fee connected
with this transmission is to transmit the return to the IRS
for them to accept it, and then deposit the refund into the
bank. All such transmissions are on a cycle basis, the cycle
starts on a Thursday afternoon, and ends 2-weeks later at
noon on Thursday; with your direct deposit into your bank
account on a Friday! All electronic filing starts As
determined by the IRS from about the 2nd Friday of January
to the last Friday of October of each year..