As a consequence of New York's desire to pinch pennies the Tax Department is encouraging citizens to embrace the technological era we live in and file their taxes electronically.
(In a release littered in typos) the department estimates that if every eligible taxpayer, which is about 10 million people, filed electronically it would save approximately $20 million in processing costs each year.
According to a source in the department, those processing costs go to Bank of America, who essentially turn paper filings into electronic copies. He said the department is trying to reduce their reliance on this outside contractor and hopefully get the number of paper filers low enough that the state could process all the paper filings.
People who file electronically must use specific computer software (think TurboTax) in order for the IRS or the state to process the form.
This practice is a growing trend in New York, with paper forms declining nearly 10 percent last year. The department hopes to match that figure.
The release cites numerous personal benefits for people who e-file:
1. No trip to the post office (but you will have to go to a store and buy the tax software).
2. Your return will be accurate and will be processed faster, which means you could get your refund faster (or a quicker notice concerning owed taxes).
3. Your information is protected (because no one has ever cracked the internet).
Ok, so I may seem down on electronic filing, but I'm actually just down on this release from the Tax Department. They simply should have said: THE STATE HAS NO MONEY AND WE CAN SAVE MONEY IF YOU USE YOUR COMPUTER! DO IT OR WE'LL RAISE YOUR TAXES!
It works because it's reasonable and fear mongering.
Now enjoy this Beatles cartoon that ends in them singing George Harrison's TAXMAN...
This is the view on Albany from the nearby city of Schenectady. We may not have a bureau in the Capitol, but that won't stop us from blogging. (Remember, this is an experiment, which doesn't reflect the views of the newspaper, isn't tied to the newspaper and our official news is at www.dailygazette.com)
Showing posts with label NYS Department of Taxation. Show all posts
Showing posts with label NYS Department of Taxation. Show all posts
Saturday, January 29, 2011
Wednesday, January 12, 2011
Filing Date Extended
The NYS Department of Taxation and Finance today announced that taxpayers will have until April 18 to file their 2010 personal income tax returns.
The decision comes on the heels of the Internal Revenue Service announcing an extension of its deadline.
Taxpayers requesting an extension will have until October 17 to file their 2010 taxes.
The decision comes on the heels of the Internal Revenue Service announcing an extension of its deadline.
Taxpayers requesting an extension will have until October 17 to file their 2010 taxes.
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