Tax Refunds - Online Income Tax Return Filing, Fast Tax Refund.
Labels: fast tax refund, income tax refund, rapid tax refunds Get Fast Tax Refunds with Easy Way.There are various methods which can help you get your tax refund quicker. You need to get familiar with the ways which works better and which do not. When it comes to receiving your own IRS refund, you are advised to learn about how you can get it easily and quickly. The best thing is to visit the IRS site located at irs.gov which is the most reliable sources for tax related issues. Go through the entire site to learn how you can get your money in easy and fast way possible. Some other sites like TheTaxGear.com can also be a great source of information for you when you are looking for the best way to get fast tax refunds. Compared to receiving income tax refund by mail, it is more suitable to get it online. Online tax refund is the most preferred way these days. If you want to receive your tax refund easy, safe and quick way, you should also prefer getting it online. We can help you get your money in your hands quickly and safely. During preparing and filing your return, you need to choose the right alternative if you are expecting to get your income tax refund faster. Prepare your return online very accurately taking minute details into considerations so that you may not have to fear of getting it rejected. Moreover, while filing your tax return electronically, you need to choose direct deposit to get your fast income tax refund. In some cases, people complain about their refund check being lost in the mail, but when you prefer getting it online with direct deposit option, your money will directly be submitted into your personal bank account. This is the quickest and safest way to get back your money into your pocket. Get Tax ID Number and Tax Return Copy
Maximize Your Federal Income Tax RefundLearning how to maximize your taxrefund, can pay you big money at tax time. With the help of a tax deduction maximizer you can increase your Federal Tax refund by 15%, 25% or even 50%.
How does a deduction maximizer work to increase my tax refund? Tax deductions and credits are what enables you to reduce the amount of tax you pay, or to get a larger tax refund. You may be tempted to settle for standard tax deductions and credits, and wind up paying the IRS more than you should. The deduction maximizer will alert you to overlooked tax deductions and credits you may qualify for. Here are a few of the over 350 free tax deductions and credits available to you: You could spend a lot of money, paying a tax accountant to find these overlooked tax deductions and credits, but you no longer have to. There are tools on the internet that can help you can master the skill of finding tax deductions and credits, and achieve a triple or even quadruple digit increase in your income tax refund. Many taxpayers settle for the standard deduction rather than exploring the many tax deductions available to them. Before you settle for the standard tax deductions, take a few minutes to explore the over 350 Federal tax deductions and credits. It's a great way to fatten your income tax refund! When Tax Refund is Coming?Tax season is finally over for most people and that means one of two things. Either you paid money in or you are due a nice refund. If you fall in the refund group, the question is when will that nice check appear in the mail? A quick word about tax refunds. While getting one may seem the greatest of things, it actually should cause you to take some time and analyze how you are paying taxes. Simply put, a tax refund means you are doing something wrong, particularly if it is large. To find out the status of your tax refund, the easiest method is to visit the IRS site. Just do a search for it. Once there, you want to click on the link that says where’s my refund? It is on the home page and prominently displayed. Now, you need to get out your tax return. Yes, the one you just filed and should have made a copy of. You need it because the IRS form will ask for the amount of the refund you are claiming, the filing status you claimed and your social security number. Once you fill out the form, the program will grind along for a few seconds and then kick out a status answer. There are three possible answers. The date the refund is issued. A problem with mail delivery to you. A problem with your Tax Returns delaying the issuance. How could a large refund each year be a bad thing? Well, you need to consider that the money you are getting back was originally your money. The IRS is not paying you interest on it, so you are effectively giving the government a free loan each year. Okay, enough about that. You are due a Tax Refund and want to know when it is going to show up. Do you have to call the IRS? Nope. Despite its reputation for having technology from the stone age, the IRS has a great website you can use for this purpose. There are more than a few funny quotes about the joy of tax refunds. While funny, they are misguided. I personally prefer not to give the government a free loan in the first place. If you get big refunds each year, make sure to adjust what you are paying in. Rapid Refunds Rapidly Take Your MoneyAt tax time, most Americans find themselves expecting a refund. That's no surprise, as most people have too much money withheld from their paychecks. It would be a simple matter to adjust the withholding so that the amount of money withheld is roughly equal to the amount of tax owed, but most people are content to get a refund check every spring. Until relatively recently, when a taxpayer had a refund coming, he or she had to wait two months or so while the refund was processed and the check mailed. In recent years, however, major tax preparers have come up with a profitable alternative that keeps the taxpayer from having to wait so long the Rapid Refund. The rapid refund, also known as a refund, is a loan given by the tax preparing company that is backed by the refund itself as collateral. The taxpayer that agrees to the service will receive his or her refund, less a service fee, often in as little as 24 hours. On the surface, this might seem like a great idea. Pay a fee, and get the refund now instead of later. But there are some problems with this service that many people either don't know about or overlook: # The fees are high; they average about $100 per refund. # When the fees are considered as interest, the interest rate can amount to more than 500% annually, a rate comparable to those of payday loans. # The people who elect to take the rapid refunds are often the people who can least afford them, so the process tends to take advantage of the poor. # The fees you pay for the rapid refund aren't getting you your refund that much faster Professional tax preparers usually file returns electronically, so the refunds, without the extra service, can often be had in as little as ten days. # You are paying someone to lend you your own money! If you really, really need your refund quickly and you don't mind paying a hefty fee to get it a few days sooner, then go ahead and buy the rapid refund. For most people, however, the service is a poor investment. Tax refundsIf the tax you owe is less than the total of the amount of refundable tax credits that you can claim and the amount of the withholding that you paid, then you can expect a tax refund. Why? The most recent tax law provided for a new 10% tax bracket. This means that, depending on your tax category, the first $6,000 to $12,000 of your earnings will be taxed at 10 percent instead of 15 percent. To a lot of Americans, this seems like good news. But is it really? Many financial experts are quick to interpret the tax refund as a loan that the government borrowed from you – a loan that it is now paying back to you, interest-free. For this reason, some people see tax refunds as an inadequate premium. It is nothing more than excess money you paid, which the government used, and is now giving back to you with no interest. For a greater majority, however, tax refunds are mere ‘savings’ – money that the government kept for you that you are now going to get back for use in other things. Many Americans are pleasantly surprised to receive tax refunds each year. Most people use the money to pay off debts, beef up savings accounts, and even go on vacations. To get your tax refund you have three options. You can either let the government directly deposit your tax refund into your bank account, have a check mailed to you, or apply your refund to next year's income tax. Start to Do taxes Online. Unclaimed Tax Refunds: How To Claim YoursWhen a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state governments can impose a number of late fees and penalties. While there are penalties for failing to a pay taxes on time, there are no penalties assessed to individuals who are due a refund but fail to file their tax returns on time.
Tax season is a stressful time for many taxpayers. With hectic lives and busy schedules it is likely that an individual may not find the time to have their taxes prepared. As previously mentioned, there is the chance of late fees and other additional penalties for individuals who owe taxes; therefore, many individuals who are expected to owe money are more likely to find the time to have their taxes completed on time than those who do not. There are no penalties for taxpayers who are expected to receive a refund to file their taxes late; however, there may be another problem that arises. That problem is what is known as unclaimed tax refunds. Unclaimed tax refunds are tax refunds that are due to a particular taxpayer; however, they failed to claim them. Unclaimed tax refunds often result when a busy taxpayer who expects a tax refund puts off sending in their tax forms until it is completely forgotten about. Although the majority of Americans look forward to the day that their tax refund arrives, there are still many others who allow their refunds to become unclaimed tax refunds. It is estimated that hundreds to thousands of individuals each year fail to file tax returns which would result in them receiving a refund. Filing a tax refund is a fairly simple process. For under thirty dollars an individual can purchase a tax software program offer Free Federal Tax Preparation . Most taxpayers can prepare their own paper taxes by filling out a federal 1040A or a 1040EZ form. Each of these forms is likely to take less than an hour for the average taxpayer to complete. A taxpayer has until three years after the year that they were supposed to file their tax return to claim their refund. For taxpayers to get their refund they have to file the federal or state tax return forms that they previously failed to file. Since the tax laws change from year to year, a taxpayer looking to reclaim their unclaimed tax refund must use a tax form for the year they missed. By visiting the website of the Internal Revenue Service (IRS) at http://www.irs.gov, an individual can find and download old federal tax forms. The same can be done with most old state tax forms. To do so individuals are encouraged to visit the website of their state tax department and then download the specific forms they need. It is hard to imagine why a taxpayer would not want to claim their tax refund. Unclaimed tax refunds do not benefit anyone but the federal or state government. A tax refund is money that is owed to a taxpayer because he or she paid too much in taxes. Why pay more money in taxes than you have to? Act now before your money is forever known as one of the many unclaimed tax refunds. Labels: Unclaimed Tax Refunds Tax ReturnTax returns are forms filed by the Internal Revenue Service (IRS) or the state tax collection agency. These forms contain information on the calculation of income tax or other taxes. The standard US individual tax return is form 1040. There are several variations of this form such as the 1040EZ and 1040A with different supplement forms. American people who earn more than assigned a number of money are required to file tax returns by law. IRS demands tax returns on the basis of three arguments, which includes filing status, age and income level. Many American people filing their Free Income Tax Online rather than paying taxes themselves. For preparing tax returns many companies offer free or paid services. There are many websites that render the services of filing tax returns. Filing requirements vary according to a taxpayer's filing status. According to the IRS, all those earning a regular income should file a return. However, there are certain rules for the senior and for children under the age of 14 with an investment income. There are some sealed income limits for the tax return filing. If a person's gross income is not exceeding that limit then they need not file any tax returns. Employment income, income from self-employment and investment income is all taxable income. IRS has also an electronic tax filing process, which has made the tax filing process completely paperless. IRS has appl two pilot programs to replace handwritten signatures on paper with electronic-enabled numbers. Electronically tax filing enables taxpayers to make direct deposit of taxes to the IRS or using credit card. It also assures that the IRS has received their forms on time and sends them the verification for that. What is a Federal Income Tax Refund?You are getting an income tax refund! Those are the words that every taxpayer would love to hear. A federal incometax refund occurs if the tax you owe is less than the sum of the total amount of refundable tax credits claimed and the total amount of withholding paid. For many individual taxpayers those federal tax refunds can be obtained through Earned Income credit, a real refund of overpayment of tax, or through an overpayment from previous years. Some people really believe that getting a large income tax refund is not the greatest thing. Instead they feel that the tax refund represents a loan paid back by the government interest free. Others use their IRS tax refund as a simple savings plan where they are surprised to get money back each year. Always remember that it is still better to get an IRS tax refund than to owe money to the government. Once you determine you are receiving a tax refund, there are several options for actually putting that money in the taxpayers hands. Standard paper filing, electronic filing with direct deposit, rapid refunds, and refund are the options we have the choice of exercising, and for many refund anticipating individuals, the rapid refund or the refund is the refund of choice. Since the advent of the computer age, and the great invention of the internet, the Internal Revenue Service (IRS) has been fairly quick to react to the benefit of electronic filing. The income tax returns are filed much faster, tax refunds are made faster, and money due the IRS can be obtained faster. Let us take a minute to look at the different IRS refund options, and what each offers the individual taxpayer. The standard paper filing, although many are more familiar with this method of filing, is slowing reaching obsolescence. There will soon come a time that the old system of paper tax filing will be entirely eliminated and replaced by the electronic tax filing methods. If you are still one of the dying numbers of Americans who files a paper tax return, you should anticipate receiving a tax refund in about six weeks; today, thanks to the great use of the internet, six weeks to receive a tax refund, seems like an extremely long time. The Rapid Tax Refund, that is rapidly replacing the standard paper filing, is an electronic method used for filing your federal income tax return, and allowing you to receive your refund in about 10-14 days. Much faster than the six weeks it used to take. There are usually no excess fees attached to this type of filing, and returns may be filed for free through many local, public access facilities. The refund, however, is a little different. These must be administered by a tax professional through an established alliance with a financial and lending institution. There are several excellent choices available, and many qualified tax professionals to complete your tax return, you will however be required to pay a loan fee or a small interest fee for the opportunity to obtain an refund. There are several restrictions placed on receiving a refund , and some of the restrictions may affect many people. For example, if you owe back taxes, back child support, or liens and judgments, you can’t qualify for the refund. Most often, the individuals who apply for and use the refund are recipients of earned income credit, and their tax refunds are usually well into the thousands of dollars. The refund can be processed in as little as three hours, and back in the hand of the taxpayer by late afternoon; this is provided everything works exactly as planned. The higher interest rates charged by the bank product providers, and the higher processing fees charged by the tax preparers, equate to less money for the taxpayer, but many of these individuals don’t even blink when told how much it will be to process their federal tax return, they just want the refund immediately. This is just one more example of the instant gratification upon which our society chooses to operate. Even for individuals filing with the electronic returns, and choosing to have their funds direct deposited, the turn around time is usually no more than 10 to 15 days. You would think that a turn around of less than two weeks would be quick enough for many taxpayers, but typically, the bigger the federal income tax refund, the faster the necessary return. It would seem to me that this is just another way for the system to profit from the poor; as it is usually the poor that qualify for the earned income credit tax refunds, and these can be extremely large, especially for families with two or three dependents. In all reality, avoid refund loans if possible. They are highly expensive. Wait patiently for your federal income tax refund and keep every penny for yourself. Telephone Excise Tax RefundTelephone tax refund is the one time tax credit that you can claim to IRS for your 2008 income tax return. It will represents an amount ot tax refund of excise taxes paid on long distance talephone services. This year IRS expects to refund near about $10 billion in telephone excise taxes. You can choose between the standard amounts set by the IRS or the actual amount of excise taxes you paid.
Claim for the standard amount is the easiest method, but the actual amount may be higher. You have to claim by those method in which you get the large tax refund for your telephone excise tax. Eligibility Criteria: If you are paying these taxes for such services in between February 28, and August 1, 2008, then you are eligible for the excise tax refund. How to Claim Telephone Excise Tax Refund; You can claim your tax refund directly through your tax return online. Standard Refund Amounts You can claim a standard amount of tax refund of the telephone excise tax. The standard amounts are based on the number of personal exemptions you claim on your tax return. Taxpayers have choices :A standard amount of tax refund between $30 to $60, based on the total number of exemptions claimed on their 2008 income tax return. to eliminate the need to locate old phone bills; or they can locate those bills and use the actual amoun Tax Refunds of Actual Amounts Paid To get this amout you will need to to dig your telephone bills from March 2003 to July 2008, and have to report the actual amount you paid as excise tax using Form 8913 and Attach this form to your tax return. Refunds for Self-Employed Individuals If you file a Schedule C (business income), Schedule E (rental income), or Schedule F (farm income) and you have more than more than $25,000 in gross receipts, then you will be eligible to use a simplified method for calculating your actual expeneses. Businesses and Nonprofit Organizations Business taxpayers can either tally up their actual expenses using their phone bills, or can use a simplified method for calculating their telephone tax refund. Businesses attach Form 8913 to their business tax return. Nonprofits attach Form 8913 to Form 990-T. Simplified Method Here's the IRS Instructions for calculating the telephone tax refund using the simplified method. 1. Take the April 2008 phone bill (this is the bill with an April 2008 statement date) and divide the total federal telephone excise tax by the total phone bill (including federal telephone excise taxes) to arrive at the percentage of the bill attributable to federal telephone excise tax. If you have more than one type of service or service provider (land line, fax, cell, local, long distance, bundled, etc.), combine all bills dated in April before making this computation. For this purpose, there is no need to separate the taxes paid on long-distance service from those paid on local service. April is a representative month during which the government was still collecting the excise tax on long-distance service. 2. Take the September 2008 phone bill and divide the total federal excise tax by the total phone bill to arrive at the percentage of that bill attributable to federal telephone excise tax. The percentage should be lower because the government was only collecting the federal excise tax on local telephone service. 3. Subtract the September percentage from the April percentage to arrive at the percentage that represents the federal long-distance tax. This is the percentage businesses and tax-exempt organizations will use to figure their refunds (capped as discussed below). 4. Multiply the long-distance tax percentage by the total phone expenses shown on telephone bills dated after Feb. 28, 2003, and before Aug. 1, 2008. The refund is capped at 2 percent of phone expenses for small businesses (those with 250 or fewer employees) and one percent for large businesses (those with more than 250 employees). Labels Telephone Tax Refund Maximize Your Federal Income Tax RefundLearning how to maximize your tax refund, can pay you big money at tax time. With the help of a tax deduction maximizer you can increase your Federal Tax refund by 15%, 25% or even 50%.
How does a deduction maximizer work to gain my tax refund? Tax deductions and credits are what changes you to reduce the amount of tax you pay, or to get a larger tax refund. You may be invited to settle for standard tax deductions and credits, and curve up paying the IRS more than you should. The deduction maximizer will alert you to dropped tax deductions and credits you may qualify for. Here are a few of the over 350 free tax deductions and credits available to you: * Education expenses * Energy tax credits * Home office deduction * Medical and dental expenses * Home mortgage interest, real estate taxes, property taxes * Earned income credit, child tax credit, child care credit * State and local income taxes * Charitable contributions You could spend a lot of money, paying a tax accountant to find these overlooked tax deductions and credits, but you no longer have to. There are tools on the internet that can help you can master the skill of finding tax deductions and credits, and achieve a triple or even quadruple digit increase in your income tax refund. Many taxpayers settle for the standard deduction rather than exploring the many tax deductions available to them. Before you settle for the standard tax deductions, take a few minutes to explore the over 350 Federal tax deductions and credits. It is a great way to fatten your income tax refund! Conventional Way for Tax FilingThe easiest and quickest way to file a return and obtain a refund, is to do this electronically--a practice already used by more than half of all taxpayers. The conventional way of filing taxes with the IRS has been opposed by Online Tax Filing systems in recent times. Filing online will allow you to get your tax refund in as little as 10 days. The process of filing taxes online is simple and trouble free. The customer first prepares his tax papers personally or approaches professional tax consultants to do so on his behalf. After the tax papers have been prepared they can be effortlessly filed through an IRS e-file provider. Filing can be done online as well, but if an individual is not sure about the mechanics, it is better to seek professional guidance. Usually most tax experts will be licensed IRS e-file providers. The relevant documents are signed and retained by the customer for future reference. The IRS e-file provider then files the returns electronically on the behalf of the customers. Next, the IRS e-file provider sends the customer an acknowledgement mentioning the current status of the filing process. Online filing eliminates the need for going through tiring steps of rushing to the local IRS offices and post offices and waiting in never ending queues to post the papers before the due date. Office hopping has been completely eliminated. The only thing required is a reliable computer and Internet connection. Mistakes and errors can be corrected online in comparatively less time. Online tax filing has reduced the time gap prior to receiving Tax Refunds and papers can be printed to maintain precise records for future reference. Online tax filing also facilitates tax payments using credit cards. It has reduced back office processing time considerably. Join the millions of people who have discovered how easy, online tax filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you'll get your tax refund in as little as 10 days. Labels: fast tax refund, income tax refund, rapid tax refund Prepare Your Taxes Online and Get Your Refund FastPreparing your income taxes can seem challenging, but it doesn't have to be. Millions of people are using tax websites to prepare and file their income Tax Return online. By preparing and filing your tax return online you will, avoid the work involved in doing everything by hand, save the cost of paid tax preparation, and you'll get your tax refund much faster. Filing online will allow you to get your Income Tax Refund in as little as 10 days (according to the IRS) If you're still preparing your taxes with pen and paper, you may be surprised to learn that an estimated 70 million tax returns will be filed electronically in 2007. Such trends show the growing popularity of preparing and filing income tax returns online. There are several good reasons to prepare and file your taxes online If you expect a refund check, filing online is a great option. The IRS can process your return and issue tax refunds much sooner than if you mailed a paper return. Preparing and filing directly from your computer will cost you much less than going to a tax professional, and way less than going to a CPA. By using your computer, your forms will be much more legible than anything you could hand-write, which will help cut down on possible errors. Join the millions of people who have discovered how easy, online Free Tax Filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you'll get your tax refund in as little as 10 days. Labels Rapid Refundas Now's the Time to Plan to Reduce Next Year's Income TaxesTo Pay As Little Tax As Possible, You Have to Plan a Year Ahead Besides the obvious tax reduction strategies, such as itemizing deductions, there are other steps you can take to lower your tax bill next year. The trick is to plan ahead. If you wait until it's time to file your income tax return, it's too late for some of the best tax-reducing strategies. Here are some of the things you should be thinking of early in the year to save yourself money. Contribute to a Retirement Plan--If you're not contributing to a 401(k) or other retirement plan, you're passing up some of the best tax savings available. Contributions to 401(k) plans are not subject to federal or most state income taxes. Your contributions and employer match will grow tax-deferred until you withdraw them during retirement. You could save between 20 and 40% of your contribution in taxes. 2. If you're already contributing to a 401(k) or other employer-sponsored plan, increasing your contributions early in the year will increase your tax savins and your earnings over time. If your employer doesn't offer a retirement plan, contributing to an IRA each year can get you some of the same tax savings. For increased earnings, don't wait until April 15th to open your IRA. The earlier in the year you make your contribution, the faster it will grow. Take Advantage of Lower Long-term Capital Gains Tax Rates--If you plan to sell a capital asset, such as stock or other investment, make sure you hold on to it long enough to take advantage of the new, lower long-term capital gains rates for assets held for at least one year. If you miss the one-year mark by even a day, you'll pay ordinary income tax rates on any gain on the sale. Just a few years ago the maximum long-term capital gains rate was 20%. Now it's only 10% if you're in the 15% income tax bracket and 15% if you're in the 25% or higher tax brackets. Not all assets qualify for the lower capital gain rate, so check with your tax preparer or the IRS. What is a Federal Income Tax RefundA federal income Tax Refund occurs if the tax you owe is less than the sum of the total amount of refundable tax credits claimed and the total amount of withholding paid.You can calculate it with Tax Refund Estimator. For many individual taxpayers those federal tax refunds can be obtained through Earned Income credit, a real refund of overpayment of tax, or through an overpayment from previous years. Some people really believe that getting a large income tax refund is not the greatest thing. Instead they feel that the tax refund represents a loan paid back by the government interest free. Others use their IRS tax refund as a "simple savings plan" where they are surprised to get money back each year. Always remember that it is still better to get an IRS tax refund than to owe money to the government. Once you determine you're receiving a tax refund, there are several options for actually putting that money in the taxpayer's hands. Standard paper filing, electronic filing with direct deposit, rapid refunds, and refund are the options we have the choice of exercising, and for many refund anticipating individuals, the rapid refund or the refund is the refund of choice. The Rapid Tax Refund, that is rapidly replacing the standard paper filing, is an electronic method used for filing your federal Income Tax Return, and allowing you to receive your refund in about 10-14 days. Much faster than the six weeks it used to take. There are usually no excess fees attached to this type of filing, and returns may be filed for free through many local, public access facilities. The refund can be processed in as little as three hours, and back in the hand of the taxpayer by late afternoon; this is provided everything works exactly as planned. The higher interest rates charged by the bank product providers, and the higher processing fees charged by the tax preparers, equate to less money for the taxpayer, but many of these individuals don't even blink when told how much it will be to process their federal tax return, they just want the refund immediately. This is just one more example of the instant gratification upon which our society chooses to operate. Even for individuals Tax Filing with the electronic returns, and choosing to have their funds direct deposited, the turn around time is usually no more than 10 to 15 days. You would think that a turn around of less than two weeks would be quick enough for many taxpayers, but typically, the bigger the federal income tax refund, the faster the necessary return. It would seem to me that this is just another way for the system to profit from the poor; as it is usually the poor that qualify for the earned income credit tax refunds, and these can be extremely large, especially for families with two or three dependents. In all reality, avoid refund loans if possible. They are highly expensive. Wait patiently for your federal income tax refund and keep every penny for yourself. Labels Federal Income Tax Refund Telephone Tax RefundsIRS Announces Standard Amounts for Telephone Tax Refunds WASHINGTON — The Internal Revenue Service today announced the standard amounts that most long-distance customers can use to figure their telephone Tax Refund. These amounts, which range from $30 to $60, will enable millions of individual taxpayers to request the telephone tax refund without having to dig through old phone bills. In general, anyone who paid the long-distance telephone tax will get the refund on their 2006 federal income tax return. This includes individuals, businesses and nonprofit organizations. The 2006 return is usually filed during 2008. The standard amounts are based on the total number of exemptions claimed on the 2006 federal Income Tax Return. The standard amounts are $30 for a person filing a return with one exemption, $40 for two exemptions, $50 for three exemptions and $60 for four or more exemptions. For example, a married couple filing a joint return with two dependent children (for a total of four exemptions) will be eligible for the maximum standard amount of $60. “The easiest way for eligible taxpayers to get their money back is to use the standard amounts,” said IRS Commissioner Mark W. Everson. “These amounts save taxpayers from locating 41 months of old phone bills and analyzing these bills to determine the taxes paid. We believe the standard amounts are both reasonable and fair.” To get the standard amount, eligible taxpayers only need to fill out one additional line on their regular 2006 return. The IRS is creating a special short form (Form 1040EZ-T) for those who don’t need to file a regular return. The standard amounts are based on actual telephone usage data, and the standard amount applicable to a family or other household reflects the long-distance phone tax paid by similarly sized families or households. Those who paid the long-distance tax on service billed after Feb. 28, 2003 and before Aug. 1, 2006 are eligible for a refund. Only individuals can use the standard amounts. Alternatively, individual taxpayers can choose to figure their refund using the actual amount of tax paid. Details on requesting the Fast Tax Refund will be included in all 2006 tax return materials and on irs.gov. Though businesses and nonprofits must base their telephone tax refund on the actual amount of tax paid, the IRS is looking for ways to make the refund process easier for these taxpayers. The IRS is considering an estimation method businesses and nonprofits may use for figuring the tax paid. "Businesses and nonprofits generally have more varied usage patterns than individuals do," Everson said. "We've met with a number of business and nonprofit groups to understand their concerns, and we plan to continue to work with them to come up with a reasonable method for estimating telephone excise Tax Refund amounts." Prepare Your Federal And State Taxes now and Get Rapid Refund.TheTaxGear offers fast income tax return preperation services for individual, CPAs and business accountants. Prepare and efile your federal and state income tax return now and get maximum Tax Refunds online. Easy and Economical Income Tax Return Preperation services for federal and state taxes with Free IRS efile. Review your Tax Return online by tax professional to get maximum Tax Refund for online Tax Filling.
Labels Rapid Tax Refund E-file Online Your Income Tax Return and Get Rapid Tax RefundsElectronic filing is the fastest way to get your income tax return filed, and the fastest way to receive your Income Tax Refunds online. It also affords you the industry's highest standards for security, quick and easy steps in completing the online Tax Filling , virtually error free in its calculations, and official notification by the IRS within 48 hrs that your Tax Return has been filed.
Labels Fast Tax Refund Disclosure PolicyThis blog is a sponsored blog created or supported by a company, organization or group of organizations. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content. The owner(s) of this blog is not compensated to provide opinion on products, services, websites and various other topics. The views and opinions expressed on this blog are purely the blog owners. If we claim or appear to be experts on a certain topic or product or service area, we will only endorse products or services that we believe, based on our expertise, are worthy of such endorsement. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. The owner(s) of this blog would like to disclose the following existing relationships. We are working as an Affiliate with TaxBrain. And in return they give us a Commission. |
|
|||||||||||||||||||||||
| Federal Tax | Federal Income Tax | 24 Hour Tax Refund | Online Tax Form |
| File Tax Online | Free Online Tax | Online Tax Preparation |