Tax season is quickly arriving, bringing with it many questions about the best and most convenient ways for firms and individuals to file returns. Because the ways that we handle and secure documents are pushing towards digital application, many practices are using the time period before tax season to apply for an Electronic Filing Identification number (EFIN) to give them the ability to cover a wider range of returns with convenience and security. Prestige Tax Office acknowledges that tax season can be a stressful time even for seasoned professionals and provides a couple of reasons making the decision to apply for EFIN will streamline your practice.

Applying for an EFIN Is the Only Way to File Taxes Electronically: The biggest benefit of the decision to apply for EFIN is that EFINS are a necessity for tax professionals and firms to file client returns electronically. This means that, in order to stay competitive as a practice in the present day, the ability to provide electronic filing service is of paramount importance. Applying for an EFIN is the only way to legally and securely provide this service. Also, in order to offer refund transfers, professionals need to secure an EFIN.

It will Help Providers with Customer Service: Because 80% of all individual federal returns are e-filed currently, there is an expressed need for practices to apply for EFIN to cover most individuals’ filings. IRS e-file has secured and transmitted over 1 billion tax returns since 1990, showing that e-filing as a practice is only growing and likely will continue due to the inherent security and convenience of the electronic filing process.