Up to the Minute...

Press Release
March 20, 2007

Countdown! Four Weeks to Filing Deadline

As you gather your materials together to file your tax return now is the time to focus on how to file your return. Resident taxpayers (those filing a Form 511) have many options when choosing to prepare their return.

If anticipating a refund, the manner in which you file and request your refund can greatly speed up the receipt of your money. Electronic filing with direct deposit is the fastest way to receive your funds.

Electronic Filing…

Last year approximately 1.5 million tax returns were filed with the State of Oklahoma. Of that nearly half of those returns, or more than 750,000, were filed electronically. To date, over 565,000 Oklahoma returns have been filed electronically.

This year taxpayers may choose from two electronic filing options when filing their 2006 Oklahoma individual income tax return.

• Returns, including refunds, balance dues, or no balance due, may be filed electronically using the Internet. Taxpayers can visit either the Oklahoma Tax Commission web site at www.tax.ok.gov or the Internal Revenue Service site at www.irs.gov for information on electronic filing programs, some of which taxpayers may qualify to use for free.
• Taxpayers may purchase software that will allow them to prepare and file both their federal and state income tax returns electronically,

It should be noted that when electronically filing their state return (Form 511), taxpayers must file their federal return at the same time. When filing electronically taxpayers will usually receive their Oklahoma refund within five to seven days.

Direct Deposit…

Don’t sit around waiting for the mailman. Get your money fast with direct deposit of your refund into your checking or savings account. Within the electronic filing process, utilize the option to direct deposit your refund. If you are choosing to paper file, the direct deposit option is also available on the Forms 511 and 511NR. The number of refunds direct deposited has increased over 12 percent this filing season.

Remember whether you choose to electronically file or paper file your return, the deadline for filing your taxes is April 17 th. For more information about filing Oklahoma state tax returns you can call our Taxpayer Assistance office in-state toll-free at 1-800-522-8165 and press “0” to speak to a representative. Information and answers to many of your tax questions may also be found by visiting our website at www.tax.ok.gov.