Question

lectronically filed tax returns: a. May not be transmitted from a taxpayer's home computer. b. Constitute less than 50 percent of the returns filed with the IRS. c. Offer faster refunds than paper returns. d. Have error rates similar to paper returns.

Answer 1

Answer: c. Offer faster refunds than paper returns.

Explanation:

The IRS has stated that people who submit their tax returns electronically or use the Direct debit facility will see their refunds faster than those using paper returns.

This has been most recently blamed on the current pandemic which has forced the IRS to reduce its staff in adherence with Corona virus prevention tips. As a result, the available staff cannot process the paper returns as fast.

It is therefore better to use the electronic or the Direct debit facilities if one wants their returns processed fast and their refunds released earlier.