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TheStreet Open House

IRS Opens E-file Today

Stocks in this article: INTU

As the Internal Revenue Service officially opens e-file today, giving the green light to U.S. taxpayers to begin filing their tax returns, TurboTax® confirmed it is up to date with current tax laws so Americans can file with confidence and be sure they’re getting every tax deduction and credit they deserve.

“Taxpayers know they can accurately and easily prepare their returns with TurboTax and get their maximum and fastest refund possible,” said Bob Meighan, lead CPA with the American Tax & Financial Center at TurboTax. “TurboTax knows the tax law inside and out, so you don’t have to. Our tax pros are here for you every step of the way and at TurboTax, if you have a question, you get expert answers from only qualified and credentialed tax professionals.”

Taxpayers can call TurboTax and an experienced tax expert will answer their questions. Only TurboTax lets people talk to CPAs, IRS enrolled agents and tax attorneys while they prepare their return, free.

TurboTax is the nation’s best selling, No. 1-rated tax software from Intuit Inc. (Nasdaq: INTU). More Americans trusted their federal returns to TurboTax last year than to H&R Block stores and all other major tax stores combined.

IRS Now Accepting E-filed Returns

The IRS begins accepting the majority of e-filed tax returns today, good news for taxpayers who have been waiting to file their return and claim their refund. Last year, 80 percent of taxpayers got a federal tax refund that averaged $2,700, according to IRS.

The IRS has recently announced that it will not begin processing tax returns claiming the American Opportunity Credit and Lifetime Learning Credit on Form 8863 until mid-February. This delay applies to all tax preparation methods. Taxpayers claiming these credits can prepare their tax return now with TurboTax and be confident they’re getting the full amount they’re entitled to. TurboTax will submit these returns as soon as the IRS begins accepting them.

The IRS expects to issue more than 9 out of 10 refunds in less than 21 days upon acceptance. The fastest way for taxpayers to get their refund is with e-file and direct deposit.

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