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Also referred to as e-file. (1) The process of sending a tax return to the IRS and to the respective state taxing authority through the Internet. (2) Refers to the preparation and transmission of tax return information to the IRS using telephone lines or a computer with a modem or Internet access. One major benefit of filing an income tax return electronically is that if you are expecting a refund, it will be sent to you within a week or two, whereas regular filing may take up to a month to receive a refund. Example: A taxpayer expected to receive a $10,000 tax refund on her 2004 Income Taxes. She wanted to receive the money as soon as possible, so she decided to electronically file her tax return.
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