Peoria Area SeniorNet, the local chapter of a national organization that promotes computer literacy among seniors, is sponsoring a free seminar on Electronic Tax Preparation on Saturday, January 23 from 1:00 to 3:00 PM. The workshop will be held in classrooms 3 & 4 on the lower level of the Proctor Professional Building at 5401 North Knoxville Ave. in Peoria. Registration in advance is not necessary and the workshop is open to all ages.
Bob Picton, an AARP tax aide, will demonstrate many of the common features and functions of the PC version of TurboTax. The knowledge gained can also be applied to using other software products that are available for tax preparation.
What’s the big deal with electronic tax preparation? If you are in your twenties or thirties it has always been around. But to an old timer, it still seems like something new. The IRS web site has a section on e-File that gives some interesting facts. Electronic filing began in 1986 when about 25,000 refund-only forms were filed by five professional tax preparation companies. Each year since then the system has been expanded to reach more and more taxpayers. In 1992, filing from home began. In 1996 the Electronic Federal Tax Payment System (EFTPS) was implemented allowing individuals to pay their taxes electronically. Payment by credit card was begun in 1999. In 2005, Free File was initiated. This allowed taxpayers to file through the Internet without special software.
The IRS goal is to enable all forms and schedules to be filed electronically, along with electronic payments and refunds. In 2007 139.3 million returns were filed in total and 79.98 million were filed electronically. This meant that 57.4% of tax returns were filed electronically in 2007. The IRS was more than half way to reaching its goal. Although most electronic returns were still filed by tax professionals, the number of individuals using tax preparation software was also significant. Individuals filed 22.6 million returns electronically in 2007. This means that 16.2% of all tax returns were filed electronically by individuals. In 2008, 90 million people used some form of electronic filing. This includes filings by individuals and tax preparers. The benefits are greater accuracy and faster refunds. If you are not already in this group, this seminar is for you.
For more information about the Tax Preparation Seminar, call 1-800-872-4651, extension 1510 and leave a message. A SeniorNet volunteer will return your call and answer any questions you may have. You can also contact SeniorNet by email at PASeniorNet@yahoo.com or read about us at our web site, www.PeoriaAreaSeniorNet.org.
Peoria Area SeniorNet is sponsored by Illinois Eye Center and National City Bank.
