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IRS Accepting E-Filed Tax Returns Tuesday

Published On: Jan 16 2012 06:46:40 AM CST
Updated On: Jan 16 2012 07:09:38 AM CST

A brand new year means the "tax man" is lurking around the corner.

Tomorrow is the first day you'll be able to E-file.

Expect more deductions this year, as the standard deduction for married couples and single people has gone up.

Filing online and filing through the mail will get you the same return, but accountant Darin Thurman explains that there is one key difference:

"When you're filing through the mail you're probably look at three to five weeks to get your refund back," Thurman said. "Whereas, if you E-file, you can receive your refund back within eight to 15 days. So it gets it to the IRS within, like, a matter of seconds."

Idaho is making some changes as well to its tax policy.

Anyone who donates to an educational institution now qualifies for a deduction five times larger than it would have been last year.

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