Last year alone, 99 million peopleâ€”70 percent of all individual taxpayersâ€”used IRS e-file to electronically transmit their tax returns, according to the government agency. With electronic filing, you can literally submit your taxes up until the very last second without penalty. E-filing is an easy and cost-effective method to filing your taxes. Plus, it does the math for you. If youâ€™re concerned about not knowing all the credits you qualify for, remember, most software programs have step-by-step instructions, which increases accuracy and the possibility of receiving a larger refund. Those with an adjusted gross income of $58,000 or less may be able to use the IRSâ€™s Free File option, where taxpayers use online software donated by TurboTax and other tax agencies.