There's been a major shift in the way New Yorkers are filing their state income tax returns.
So far this tax season, the percentage of people filing electronically has doubled and the percentage filing on old-fashioned paper is down 38 percent. That's why State Taxation and Finance has already processed nearly 2.5 million tax returns and sent out $1.5 billion in refunds. In recent years, the department has shifted to part-time workers hired only for the tax season. Department spokesman Jeff Gloak says e-filing costs are lower.
"E-filing is much less expensive than paper filing in terms of processing for New York State taxpayers, over all. A paper return costs about $5 per return to process. An e-file return is pennies," Gloak said.
Gloak says the processing time is much shorter which gets the refund out faster. And, he says if you want that refund check even faster, get it direct-deposited, which should put it in your bank account a week earlier than with a paper check.
