Tax time is coming, turn on the computer
The holiday season is coming to a close, which means it’s time to gear up for tax season.
For most Americans, that will start by turning on the computer.
The majority of individual taxpayers now file their taxes electronically, according to the IRS Oversight Board’s annual electronic tax filing report to Congress, which was issued last week.
The report found that 78 percent of individual tax returns are currently filed electronically. That figure is expected to top 80 percent in 2012.
More broadly, 67 percent of major individual, business and tax exempt returns have been filed electronically in 2011, up eight percentage points from 2010.
The IRS is not expected to meet a goal of having 80 percent of all major tax returns filed electronically by 2012, although they expect to hit that target within a few years.
Last year, the IRS stopped automatically mailing tax forms to individuals. That’s one of several measures it has taken as more people switch to electronic filing.