Telefile

AAA

DEFINITION of 'Telefile'

A tax service provided nationally by the IRS from 1997-2005 that allowed taxpayers filing form 1040EZ to phone in their tax returns with a touch-tone phone. Telefile was provided as a service of convenience for taxpayers with simple tax returns. The Telefile service worked by letting taxpayers dial the numbers on their tax return directly into the phone to report their income.

INVESTOPEDIA EXPLAINS 'Telefile'

Telefile was not a service that could be ordered; eligible taxpayers automatically received the Telefile package in the mail. It was first tested in Ohio and its service was eventually expanded to include self-employed filers. Telefile was replaced in the U.S. by electronic filing in 2005, but is still in use in Canada.

RELATED TERMS
  1. Teletax

    A fully automated phone service that offers prerecorded messages ...
  2. Income Tax

    A tax that governments impose on financial income generated by ...
  3. Electronic Filing - E-File

    The process of submitting tax returns over the Internet, using ...
  4. Tax Deductible Interest

    A borrowing expense that a taxpayer can claim on a federal or ...
  5. Deferred Tax Asset

    A deferred tax asset is an asset on a company's balance sheet ...
  6. Quid Pro Quo Contribution

    A charitable donation for which the donor receives something ...
RELATED FAQS
  1. Which is better for tax deductions, itemization or a standard deduction?

    Each deduction that you claim may result in a decrease in the amount of taxes that you owe. However, whether you receive ... Read Full Answer >>
  2. How can I easily get ready for next year's tax season?

    You may one of the lucky ones to come out on top this tax season, but as you will likely agree, it does not mean that you ... Read Full Answer >>
  3. Does everyone have to file a federal tax return?

    This may come as a surprise to many individuals, but not everyone needs to file a federal tax return. According to the IRS, ... Read Full Answer >>
  4. What are some tactics businesses can use to increase unlevered free cash flow?

    Unlevered free cash flow is defined as earnings before interest taxes, depreciation and amortization (EBITDA) less capital ... Read Full Answer >>
  5. What is an IRS letter audit / audit by correspondence?

    Every year, the Internal Revenue Service (IRS) sends numerous notices to taxpayers. Letter audit, or audit by correspondence, ... Read Full Answer >>
  6. When might an abatement be granted by the IRS?

    The Internal Revenue Service (IRS) frequently imposes interest and penalties due to the late filing of a tax return, underpayment ... Read Full Answer >>
Related Articles
  1. Taxes

    Get A 6-Month Tax Extension

    Discover how to get some extra time from the IRS, without paying for the privilege.
  2. Professionals

    Gay Marriage Ruling: Its Impact on Estate Planning

    Same-sex couples now face the same legal and financial issues as heterosexual couples; some may need to adopt simpler, more mainstream financial plans.
  3. Professionals

    How to Best Navigate Taxes in Retirement

    Here's a rundown on tax strategies that can help extend the life of a nest egg.
  4. Taxes

    10 Little Known Ways To Reduce Your 401(k) Taxes

    These clever strategies will help you hold onto your money – so you'll have more available for your retirement.
  5. Entrepreneurship

    Corporate Inversion: How It Works

    Large corporations are making all kinds of moves to decrease expenses and increase profits in an increasingly competitive global market.
  6. Taxes

    IRS Refund Lost? Here's What to Do

    Don't panic. There are a number of reasons your refund might be delayed – and solutions for each.
  7. Professionals

    Top Retirement Planning Tips for Same-Sex Couples

    Financial advisors who work with same-sex couples need to be aware of these key factors to provide effective advice.
  8. Economics

    What's a Deductible?

    With insurance, a deductible is the amount of money the insured pays out-of-pocket before the insurance company pays for the loss.
  9. Professionals

    Phew! IRA Tax Fixes Possible Through Oct. 15

    Tax season ended April 15 but you've got until Oct. 15 to correct errors, including those to do with Roth and traditional IRAs.
  10. Mutual Funds & ETFs

    Why Muni Bonds and Bond Funds are Perfect Together

    Municipal bonds and bond funds differ in several ways, which is partly why they complement each other well.

You May Also Like

Hot Definitions
  1. National Currency

    The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is ...
  2. Treasury Yield

    The return on investment, expressed as a percentage, on the debt obligations of the U.S. government. Treasuries are considered ...
  3. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  4. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  5. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
  6. Current Account Deficit

    A measurement of a country’s trade in which the value of goods and services it imports exceeds the value of goods and services ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!