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Electronic Filing Workshop

Electronic Filing Workshop. Virginia Department of Taxation 2007. Topics. Define Electronic Filing Options Benefits of Filing Electronically Step by Step “How To” Instructions Contact Information . What Is Electronic Filing?.

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Electronic Filing Workshop

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  1. Electronic Filing Workshop Virginia Department of Taxation 2007

  2. Topics • Define Electronic Filing Options • Benefits of Filing Electronically • Step by Step “How To” Instructions • Contact Information

  3. What Is Electronic Filing? Electronic filing is the process of submitting your tax forms over the internet, using computers and tax preparation software

  4. Benefits • Faster processing- electronically filed returns are processed within days • Secure – your data is safe and secure because we use the latest encryption technology • Proof of Receipt- will have confirmation • Convenient – electronic filing is available around the clock

  5. Benefits • Easy – All electronic filing options are user friendly, and include step by step instructions • Free – Free Federal and State return filing for most taxpayers • More Accurate Processing – Returns filed electronically have fewer math errors • Electronic Banking– Offers the convenience of Direct Deposit for refunds and Direct Debit for payment of tax owed

  6. Security • Return data is safe and secure because we use the latest encryption technology • Secure sites are easily identified by symbols that are prominently displayed on the web pages.

  7. The Arrows point to Security Symbols

  8. How Do I E-File My Tax Return? • E-file your Federal & State returns through the IRS website by accessing commercial software at www.irs.gov • If your Federal Adjusted Gross Income is less than $52,000, you can file your Federal Return for free • You will be charged a fee for filing your State Return

  9. How Do I E-File My Tax Return? • E-file your Federal & State return by purchasing commercial software and installing on your home computer • E-file your Federal & State return by accessing online commercial software applications

  10. How Do I E-File My Tax Return? • File your Virginia Return free through Virginia's iFile program • Access the program at www.tax.virginia.gov • All Virginia Taxpayers can file for free

  11. How Do I E-File My Tax Return? • If you currently use a Tax Preparer, CPA or Accountant to prepare your taxes be sure and request that they file your return electronically so you can receive your refund fast.

  12. Getting Started • The same paperwork you always need when filing on paper • W2s, 1099s • Receipts and any other backup paperwork • Your previous year’s Federal & State returns • A computer with a standard internet browser • Internet Explorer • Netscape

  13. e-file Through The IRS Website

  14. Go to IRS website: www.irs.gov andclick on the e-file icon

  15. Click on the link to e-file for Individual Taxpayers

  16. Click on the various links to find the best E-File Option For You

  17. IRS e-file Program Overview

  18. When You Click on Free File From the Previous Web Page

  19. Listing of IRS e-file Partners

  20. The Commercial Software Program being utilized throughout this training is but one demonstration of what is available.The Virginia Department of Taxation is not in any way making a recommendation or advocating the use of this particular software.Visit the IRS and/or the Virginia Tax Website for a listing of all available commercial software vendors.

  21. Click on Start To Begin

  22. Click on Continue to Begin Filing Your Return

  23. Register Your Username & Password

  24. Print Your Username & Password for Future Reference

  25. Enter Filing Status

  26. Enter Your Personal Information

  27. Enter information that will determine special exemptions

  28. Continue to Enter Personal Information

  29. Continue to Provide Special Exemption Information

  30. You Can Go Back & View Previous Pages

  31. Provide Personal Exemption Information

  32. Enter Dependent Information

  33. Enter Special Deduction Information

  34. Review Personal Information Entered

  35. Begin the Wage Information Section

  36. Entering W-2’s Information Page

  37. Enter W-2 Information

  38. W-2 Information Summary Page

  39. Other Earned Income Information

  40. Interest & Dividend Income Information Page

  41. Capital Gains & Loss Information Page

  42. Unemployment, State, Local Refund/Credits Page

  43. Retirement & Social Security Page

  44. Alimony & Other Income Page

  45. Income Summary Page

  46. Initial Expense Reporting Page

  47. Expense Information Page

  48. Building Itemized Deductions

  49. Expense Summary Page

  50. Dependent Care & Education Expense Page

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