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Paperless Tax Filing Setting New Records, Says Florida Dept. of Revenue
TALLAHASSEE, Fla., Feb. 25 /PRNewswire/ More businesses and individual taxpayers are shunning traditional "forms" filing in favor of alternative, paperless methods that are faster, easier and more accurate, according to the latest statistics compiled by the Department of Revenue (DOR).
On January 20, 1999, the DOR collected a whopping $1.057 billion in taxes through electronic filing -- easily trumping the former single-day record of $675.6 million set on April 20, 1998.
The new benchmark reflects an increasingly upward trend among businesses and individuals toward filing dollars and data electronically. For example, electronic filing of DOR tax returns increased by more than 50 percent for the first seven months of the 1999 fiscal year, compared to the same period a year earlier. Total collections through electronic filing during the comparative periods grew from $2.9 billion to $4.1 billion -- an increase of 41 percent.
"Electronic tax filing is no longer some futuristic cyberspace dream -- it is today's technology reality," said Jim Evers, director of the DOR's General Tax Administration program. "Florida is a national leader in paperless filing, and taxpayers are increasingly showing that this method can't be beat for speed, simplicity and accuracy."
Paperless filing has several advantages for businesses, The DOR's computer will not accept electronic tax returns if they have math errors, which helps taxpayers avoid filing incorrect returns that could mean costly penalties and take time to resolve. In addition, electronically filed tax information is processed faster and at a cheaper cost for both businesses and the DOR. Lost mail and questions about postmark dates also are eliminated because electronic filers get an automatic confirmation from the DOR that their tax returns were received.
The electronic filing system works with most modem-equipped computers, including personal computers. Florida is one of more than two dozen states that have adopted the electronic transmission technology for sales, fuel or withholding tax collections and tax returns.
Businesses collecting $50,000 or more in sales tax have been remitting the tax dollars through Electronic Funds Transfer (EFT) since 1990. The DOR has made Electronic Data Interchange (EDI) -- filing the actual tax return data electronically available to all sales tax filers on a voluntary basis since January 1995. The 1996 Legislature made EDI a requirement for businesses collecting $50,000 or more annually in sales tax. That is less than 5 percent of Florida's 550,000 registered sales tax dealers, although they represent 78 percent of sales tax collections.
A DOR survey of businesses found that more than 80 percent considered electronic filing to be more convenient than paper returns, and nearly 40 percent said it helped them reduce filing errors.
Electronic filing isn't the only paperless alternative offered by the DOR. The agency's Telefile program for small sales tax filers reported a 95 percent increase this past January compared to a year earlier. The program allows eligible businesses to file returns toll-free using a touch-tone phone.
Taxpayers wanting more, information on the DOR's electronic filing program can call 1-800-352-3671 or 850-487-7972 or access the agency's Internet web address at: sun6.dm.state.fl.us.
SOURCE Florida Dept. of Revenue
/CONTACT: Donna O'Neal, or Dave Bruns, both of Florida Dept. of Revenue, 850-487-2747/ /Web site: sun6.dm.state.fl.us
[Copyright 1999, PR Newswire]
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