Income tax

Tax

EFTPS-Online: Pay Your Taxes Over The Internet

If you’re going to owe taxes when you file your federal tax return, consider paying over the Internet through the Electronic Federal Tax Payment System (EFTPS). EFTPS-OnLine is fast, easy, convenient, and secure. The government does not charge for this service.You can enroll in EFTPS-OnLine via an official government site on the Internet, using a user-friendly Web interface. After enrollment, you will receive a confirmation kit by mail with instructions for obtaining an Internet password. For added security, a unique Personal Identification Number (PIN) will be mailed to you.
Tax

Faster Refunds Through Direct Deposit

Want a faster refund? The IRS says that more taxpayers are choosing direct deposit as the way to get their federal tax refunds. The payment is more secure — there is no check to get lost. And, it’s more convenient — no special trip to the bank to deposit a check! Be sure to ask your tax preparer to request direct deposit, or follow the instructions for "Refund" on your tax return.Nearly 40 million people had their tax refunds deposited directly into their bank accounts during the 2002 filing season, a 17 percent increase from the year before.
Tax

Forms and Publications

If you use a tax preparer, you usually won't need to worry about which forms to file or how to complete those forms - that's in part what the preparer is paid to know. However, there may be occasions where you want to review the contents of a form or read a publication so you can become better informed on taxes that you owe.The Internal Revenue Service has many forms and free publications on a wide variety of topics to help you understand and meet tax filing requirements.
Tax

Toll-Free Telephone Service

The IRS provides various services through its toll-free telephone numbers. You can order forms and publications, listen to prerecorded tax information, check on the status of your refund, or ask questions about your tax return.
Tax

Need a Copy of Your Tax Return Information? Call The IRS

There may be times when you need a copy of your prior year federal tax return, a transcript of a return or tax account information. If you had your taxes prepared by a tax professional, you should contact them for copies.
Tax

Tax Materials And Assistance in Spanish

If you need federal tax information in Spanish, you can find it in the form of recorded tax topics, free tax publications and toll-free telephone assistance from the Internal Revenue Service.TeleTax is a toll-free automated service, in English and Spanish, providing helpful tax topics and refund information. You can find a list of the 151 TeleTax topics in the instructions for Form 1040, 1040A or 1040EZ. TeleTax can also help you if it's been at least four weeks since you filed your return and you want to check on the status of your federal refund.
Tax

Taxpayer Rights a Priority For IRS

The law requires the IRS to protect taxpayer rights, and in its day-to-day operations, the IRS and its employees make taxpayer rights a top priority. This includes explaining those rights to taxpayers, keeping taxpayer information private and confidential and being professional and courteous.Besides what is expected of IRS employees, taxpayers have many other rights. They have the right to have someone represent them before the IRS and to accompany them to any meeting with IRS employees.
Tax

E-File Helps Refunds, Payments

Are you one of the almost 100 million taxpayers who will receive a refund this year? The IRS says that requesting direct deposit and filing your tax return electronically (e-filing) will put that money in your pocket faster and easier.Every year, more taxpayers find out how safe and easy it is to have their tax refund deposited directly into their checking or savings account. This option is available for both e-filers and paper return filers.When you file electronically, your refund will be issued within three weeks, about half the time it would take if you filed a paper return.
Tax

Publication 17 - One Stop For Tax Help

Facing a lot of different tax questions this year?
Tax

Avoid Headaches - Prepare Taxes Early

Earlier is better when it comes to working on your taxes. The IRS encourages everyone to get a head start on tax preparation. Not only do you avoid the last-minute rush, early filers also get a faster refund.There are several easy ways to get a good jump on your taxes long before the April 15 deadline rolls around:Gather your records in advance. Make sure you have all the records you need, including W-2s and 1099s. Don’t forget to save a copy for your files.Get the right forms.
Tax

Get Tax Information 24 Hours a Day

Need a tax form? Have a question about changes to tax law? Want to find the nearest IRS taxpayer assistance center? Now anyone with a personal computer and Internet access can point and click their way to access tax information at www.irs.gov.You should consult your tax preparer for answers to your questions about your personal situation. But for quick reference, check out the IRS Web site.The IRS Web site at IRS.gov offers a wealth of resources for making tax time, well, a little less taxing.
Tax

Recordkeeping

You can avoid headaches at tax time by keeping track of your receipts and other records throughout the year, the IRS advises. Good recordkeeping will help you remember the various transactions you made during the year, which may help you out on your taxes.Records help you document the deductions you’ve claimed on your return. You’ll need this documentation should the IRS select your return for examination.
Tax

Should I Itemize?

Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. According to the IRS, money paid for medical care, mortgage interest, taxes, contributions, casualty losses, and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing.The standard deduction amounts are based on your filing status and are subject to inflation adjustments each year.
Tax

Which Form - 1040, 1040A, or 1040EZ?

If you are filing a federal income tax return on paper, use the simplest form you can, the IRS advises. The simpler the form, the less chance of an error that may cost you money or delay the processing of your return. The simplest is Form 1040EZ. Form 1040A covers several additional items not addressed by the EZ. Form 1040 should be used when itemizing deductions and reporting more complex investments and other income.
Tax

What is Your Filing Status?

Your filing status on your federal tax return is a category that identifies you based on your marital and family situation, according to the IRS. It is an important factor in determining whether you must file a return, the amount of your standard deduction and your correct amount of tax. If more than one filing status applies to you, you may choose the one that gives you the lowest tax obligation.There are five possible filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child.
Tax

Who Must File a Tax Return?

There are some instances when you may not be required to file a federal income tax return. But keep this in mind — more than 70 percent of those who file are due a refund, so it may be to your advantage to file even if you are not required to.The law does require you to file a tax return if your income is above a certain level. Check the instructions for Form 1040, 1040A or 1040EZ (under "filing requirements") for specific details that may affect your need to file a tax return with IRS this year.Here are some general guidelines for anyone under age 65.
Tax

Appeal Rights

Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal, according to the IRS. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review your case.IRS Publication 1, “Your Rights as a Taxpayer,” explains some of your most important taxpayer rights.
Tax

Tax Tips For Last Minute Filers

With the tax filing deadline close at hand, the IRS offers some tips for those still working on their tax forms:Put your Social Security number on the return (it’s not on the label)Double-check your figuresSign your formAttach all required schedulesSend your return or request a filing extension by April 15The numbers to check most carefully on the tax return are the identification numbers — usually Social Security numbers — for each person listed.
Tax

Refunds - How Long Should They Take?

Are you expecting a tax refund from the IRS this year? The IRS says that if you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, and even faster when you choose direct deposit.You can have a refund check mailed to you, or you may be able to have your refund deposited directly into your bank account. Direct deposit into a bank account is more secure because there is no check to get lost.
Tax

Amended Returns

Oops! You’ve discovered an error after your tax return has been filed. What to do? You may need to amend your return, according to the IRS.The IRS usually corrects math errors or requests forms (such as W-2s) or schedules left out. In these instances, do not amend your return. However, do file an amended return if any of the following were reported incorrectly:– Your filing status– Your total income– Your deductions or creditsUse Form 1040X, “Amended U.S.

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