Printer Friendly

HELP STILL AVAILABLE FOR LAST MINUTE FILERS

 HELP STILL AVAILABLE FOR LAST MINUTE FILERS
 WASHINGTON, April 14 /PRNewswire/ -- Another filing season is


almost over and about 75 million taxpayers have filed their federal tax returns and 52 million have already received their refund.
 According to the Internal Revenue Service, approximately 25 percent of the taxpayers file their returns each year during the last week of the tax season. If you're hurrying to complete your federal tax return by midnight, April 15, there is still last-minute help available from IRS.
 Many IRS offices are extending their walk-in office hours and the hours for telephone assistance. For details on IRS tax help hours in your area, call 800-829-1040, or your local IRS office.
 "We're very proud of our assisters and the work they have done this year," said IRS Commissioner Shirley D. Peterson. "We've had a very good filing season this year and the quality of our service continues to improve."
 If you don't need to talk to an assister, you can call the Tele- Tax system. Tele-Tax is the IRS telephone service that provides recorded tax information year-round. You can listen to tax information on about 140 topics such as filing requirements, dependents, itemized deductions, tax credits and much more. The toll-free Tele-Tax number is 800-829-4477. Instructions for using Tele-Tax can be found in your tax package.
 It's easy to make mistakes on your return when you're trying to complete it at the last minute. Here are a few tips to help you complete that return correctly:
 -- When you've completed your return, put it aside for awhile, then go back and review the return. Make sure you've correctly entered all the required information: social security numbers, signatures, date and tax amounts. Check your math and make sure the correct amounts are on the proper lines.
 -- When you're ready to mail the return, apply the label from your tax package, use the bar-coded envelope, apply the correct amount of postage and make sure the envelope is postmarked by midnight, April 15. Use of the pre-addressed label and the bar-coded envelope has no affect on the way returns are selected for audit. This does, however, speed up the processing of your return. Check with your local post office as many extend their hours on April 15 to help taxpayers meet the deadline.
 -- If you find that you cannot complete your return on time, file for a four-month extension on Form 4868, Extension of Time to File. Remember, Form 4868 is an extension of time to file -- not an extension of time to pay. Estimate the tax you owe and include payment with the extension.
 -- Don't make the mistake of not filing your return if you can't pay the tax due. File the return and pay as much as you can when you file. When you receive a bill for the balance, contact IRS immediately and make arrangements for payment. Failure to file carries a penalty of 5 percent per month on the unpaid balance, with a maximum penalty of 25 percent.
 As of April 10, refunds worth over $50 billion have been processed. The average refund of $975 is up almost 8 percent over last year.
 1992 Filing Season Statistics
 Individual income tax returns received and processed
 For the week ending April 12, 1991, and April 10, 1992:
 1991 1992 Pct. Change
 Receipts 9,360,000 7,615,000 -18.6
 Processed 5,505,000 5,226,000 -5.1
 Cumulative from Jan. 1:
 1991 1992 Pct. Change
 Receipts 76,056,000 74,989,000 -1.4
 Processed 62,725,000 64,144,000 2.3
 Electronically filed individual income tax returns
 For the week ending April 10, 1992: 258,000
 Cumulative for 1992 since Jan. 1: 10,380,000
 Cumulative for 1991 for same period: 7,197,000
 1992 increase over 1991: 44.2 percent
 1992 Filing Alternatives: Total Receipts
 1040PC -- 983,000; TeleFile -- 121,000; 1040EZ-1 -- 5,000
 Refund comparison
 Refunds certified by Martinsburg Computing Center through April 12, 1991, and April 10, 1992:
 1991 1992 Pct. Change
 Number 49,771,000 51,617,000 3.7
 Amount of
 principal $45.047 billion $50.335 billion 11.7
 Average refund $905 $975 7.7
 -0- 4/14/92
 /CONTACT: Internal Revenue Service, Public Affairs Division, 202-566-4024/ CO: Internal Revenue Service ST: District of Columbia IN: SU:


DC-TW -- DC040 -- 8403 04/14/92 17:52 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 14, 1992
Words:727
Previous Article:MOODY'S LOWERS RATING ON NEW YORK MTA TRANSIT FACILITIES; NEW YORK CITY TRANSIT AUTHORITY REVENUE BONDS TO 'Baa' FROM 'Baa1'
Next Article:WICKES COMPANIES ANNOUNCES REGULAR QUARTERLY DIVIDEND
Topics:


Related Articles
STATE TAX CHANGES FOR CALIFORNIANS
FILE EARLY, ELECTRONICALLY FOR QUICKER REFUNDS
IRS expands file-by-phone service.
Take the Bite Out of Tax Day, Pet a Puppy!
TAXING EXPERIENCES; WAIT ENDS FOR LAST-MINUTE FILERS.
Jackson Hewitt Offers Final Day(s) Tax Filer Advice...Relax, Know That You Have Time, and Have Fun!
Tax Firm Gilman Ciocia Offers Last-Minute Tips for Filers.
Jackson Hewitt(R) Encourages Last-Minute Filers To Get Organized Now.
Jackson Hewitt(R) Continues Extended Hours Across the Country to Help Last- Minute Taxfilers Meet the April 17 Deadline.
Jackson Hewitt(R) Extends Hours to Help Last Minute Tax Filers Meet the April 15 Deadline.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters