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It's Tax Time! Get tips, forms and advice on AOL Money Finance.

 

 

 

 

 

 

 

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Mar 03, 2008

 

 

 

 

 

 

 

 

BANG FOR THE BITE

 

 

 

If 10,000 Biters file just one 1040 form online instead of on paper, we'll save more than two trees' worth of paper.

 

 

 

 

 

COCKTAIL FACTOID

 

 

Just a few of the things Russia's Peter the Great taxed to help pay expenses: beards, births, burials, and chimneys.

 

 

 

 

 

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Need happy pills to get you through tax filing?

The Bite

Chin up. Filing taxes online makes the ordeal a lot less suicide-inducing. If we all do it, we'll save major paper and postage - plus filing online slashes the (typically taxing) wait for returns.

 

The Benefits

 

Easy does it. Web programs and PC software guide you through the filing process. Bonus: no standing in post office lines with other last-minute filers.

Rapid returns. If you e-file, you can expect to get your return in about half the time it would take with paper.

Not wasting W-2 much paper. The IRS processes over 2 bil sheets of paper each year. E-filing means fewer forms, and getting your refund deposited directly in your account saves even more paper.

It's accurate. The IRS says e-filing is 99% accurate, versus about 80% accurate with paper.

 

Personally Speaking

We admit that saving the environment didn't cross our minds when we first e-filed - we just want our refunds, stat.

 

Wanna Try?

 

IRS E-file - 24-7 federal filing online; free if you make less than $54,000/year. (Note: the IRS may send you info in the mail with a code you need to enter on its site.)

Federation of Tax Administrators - see if your state offers online filing.

TurboTax Deluxe Online - tax software that makes filing even easier than IRS e-filing. Also: simpler, free edition for people with straightforward assets and income ($60/federal and state).

Tax Incentives Assistance Project - if you saved energy at home or with a fuel-efficient car purchase in 2007, you could be eligible for a tax credit.

Mint - free, online money management software so you can prep for a richer 2009.

 

This tip submitted by Lindsey Cromwell.

 

 

 

 

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