A matter of hours remains before our federal tax returns are due. An Internal Revenue Service spokeswoman says Iowans who plan to put the chore off until the latest possible minute should rely on electronic filing, not paper. The I-R-S’ Donna Migazzi says e-filing is superior in several ways. Refunds from a paper return won’t get to you for six to eight weeks. The e-filed return may be bringing you a refund twice as fast, even within ten to 12 days if you use direct deposit. Migazzi says if you file a paper return this late instead of an electronic return, chances are greater that you’ll make a mistake. Potentially-costly math errors are automatically corrected with e-filing and it will point out deductions you may otherwide miss. Migazzi says the odds of making a mistake with a paper return are about 20-percent, but with e-filing, mistakes happen less than one-percent of the time. If you know you’ll have to pay, at least file the return today, as Migazzi says you’ll pay a still penalty if you let the deadline pass.Migazzi says you can file for an extension by regular mail, electronically or by phone. Call 888-796-1074 and do the extension by phone. For more information, surf to “www.irs.gov”.
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