Hello? IRS On the Line!

If you’ve never picked up the phone to hear the person at the other end identified as a representative of the IRS, you may not know what kind of a treat you are in for. But wait! Just because the IRS is on the line doesn’t mean you should go running for cover because your tax return is about to be examined. In this case, the kinder, gentler IRS is just being friendly.

The IRS is about to conduct a telephone survey to determine the national comfort level with the process of electronically filed income tax returns. Do you have confidence in a program that transfers your most personal financial data electronically? The IRS is hoping to assuage any discomfort the taxpayers of the nation may have toward electronic filing in order to meet a congressional mandate to process 80% of tax returns electronically by the year 2007.

The survey of 1,000 randomly selected citizens is designed to determine awareness of electronic filing options and to learn of taxpayer satisfaction or dissatisfaction with the current selection of e-filing products.

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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