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What are the advantages of e-filing my income tax return? Here are the top eight reasons why last year more than one million Oklahomans filed their tax returns Numeric investors answers You can usually file a state tax return at the same time you electronically file your federal tax return.
Errors are reduced because e-file checks for math errors and necessary information. This not only increases the accuracy of your return, but it also reduces the need for correspondence with the Oklahoma Tax Commission to clarify errors or omissions.
No more second-guessing yourself. When you file electronically, the computer software or online program guides you through the process step-by-step. When you use e-file, your state refund is returned to you in less than two weeks, and often times in days if you choose direct deposit.
There are more payment options. With e-file, you can file your return early, but wait to pay any balance due by the April deadline. You can also pay electronically using a credit card or electronic funds withdrawal from a bank account. There is no more guessing if your return has been received.
Once you verify that your return has been accepted there is nothing else you have to do. What do I do if I have a balance due when I e-file my return? If you have a balance due on your State return, the program you are using will prompt you to print out the transmittal form V.
Use this form if you choose to remit a paper check in lieu of electronic payment to the Oklahoma Tax Commission.
Do not include a copy of your return with your payment. You can also log on to the Oklahoma Tax Commission website at www. If you cannot pay all of your tax at once, please make sure you go ahead and file the return. Filing your return on time, even if you cannot pay the tax, may reduce certain penalties and interest.
If you cannot pay all of your tax liability at once, you can contact the OTC for other payment options such as payout plans.
Do I have to have a tax preparer e-file my return? No, one great thing about filing electronically is the process is easy to use and has a low risk of error. Join the hundreds of thousands of taxpayers who are saving time and money to file their tax returns without the many headaches often associated with filing a paper return.
Oklahoma Tax Refund Debit Card 1.Numeric Investors Case 5 Questions. Topics: Finance, This schedule should follow from answers to questions in BEC cases from prior chapters and from any class project guidelines given to you by your instructor.
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