IRS makes changes, expects busy year
Published 2:24 am Wednesday, January 10, 2007
special to the standard
The Internal Revenue Service today began a busy 2007 filing season that features late tax breaks requiring extra attention, new forms for telephone excise tax refunds, and a new refund deposit feature.
Instructions for writing in the deductions are on the Web at IRS.gov or available by calling the IRS toll-free help line, 1-800-829-1040. E-file software is being updated to include the deductions.
The IRS also is alerting filers to a new line on the tax forms for requesting a refund of federal telephone excise taxes paid on long-distance or bundled service over a 41-month period.
Taxpayers may request the actual amount paid or may simplify the process by requesting a “standard amount.”
People who don't need to file a regular tax return may request the refund using the new Form 1040EZ-T.
For the first time ever, taxpayers can split their refunds among up to three accounts held by up to three different U.S. financial institutions.
A new form is used to authorize the split of direct-deposit refunds.
The IRS expects Alabamians to file 1.95 million individual tax returns in 2007, 1.31 million of them electronically.
More than 300,000 Alabamians are expected to prepare and file their returns using their home computers with tax-return software.