d$.$ Consider the same narrative as described in the beginning, except you are using cloud$-$based tax software. You still need to assemble your W$-2$ and $1099$ documents, but you no longer need to download IRS forms since the software will prepare the forms for you. Once you complete entering your information, you will file electronically. The IRS sends your refund directly to your bank account. If you owe money, the IRS will automatically deduct the amount from your checking account in $7$ days.