How
Will The New Tax Cut Affect You?
Refund Checks...Current
Address
You Still Have Time To E-File
Tax
Problems? Ask The
Taxpayer Advocate Service
In The Works At OnLine Taxes
Tax Planning
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How Will
The New Tax Cut Affect You?
As we all know, President Bush signed The Jobs and Growth Tax Relief
Reconciliation Act to help with today's economy. For those of you
who claimed the child tax credit on your return, you could be receiving
a check this summer of up to $400 per child. The Act raised the credit
from $600 to $1000 and is based on your 2002 tax return. The IRS
will mail out a statement indicating the amount you will receive.
You will need to keep the statement for your 2003 income tax return.
The IRS
will start mailing checks beginning late July. There are no
forms to fill out, sit back, relax and wait for your money. But
remember this is an advanced payment and you will need to account for
the amount you receive on your 2003 tax return.
There are other
tax cutting measures also now available to taxpayers. The Act also
reduces tax rates, the marriage tax penalty, and the tax on dividends
and capital gains. For more information on the new tax cut, please
click on the link to view the tax law summary.
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Refund Checks ... Current Address
In
order for the IRS to send your refund check, they must have your most
current address on file. If the refund check is returned to the
IRS because of a wrong address printed on the check, they will not
reissue a new check until they are notified of a new address. If
you are planning to move or have recently moved, you will need to file
Form 8822 Change of Address directly to the IRS. This form may be
obtained on the IRS website or click
here. If your refund check is lost or stolen you must complete
Form 3911
Taxpayer Statement Regarding Refund. The IRS and Financial
Management Service will determine if the check has been cashed and will
provide a photocopy of the cashed check. If the check has not been
cashed you will be issued a replacement. Refund checks are only
valid for one year after date of issuance. A refund check will not
be divided by the IRS when issued to a married couple that has since
divorced. Your refund check is subject to offsets such as federal
tax debts, delinquent student loans, or child support. The IRS
does not move at the speed of light and will require a significant
amount of time when deciding to reissue a refund check - Protect
yourself against fraud!
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Tax
Problems? Ask The Taxpayer Advocate Service
The
Taxpayer Advocate Service is an independent system provided by the IRS
to help taxpayers get tax issues resolved. The main goals are to
protect individual taxpayer rights and to reduce taxpayer burden.
The taxpayer advocate in your state is independent of the local IRS
office and reports to the national taxpayer advocate. The advocate
can help you get resolution to your tax problems. You may contact
your local advocate by going to http://www.irs.gov/advocate/index.html.
or call 1-877-777-4778. You may also send a written request for
assistance by filing Form
911.
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You
Still Have Time To E-File
For those
of you who have not filed a tax return for 2002, you still have
time. 2002 Tax Returns may be electronically filed until October
15, 2003. Log on to www.online-taxes.com
and start your return today. Create your own user name and
password and follow the easy question/answer program. We have
reduced the cost of e-filing to only $7.95 (down from the original cost
of $14.95). Our pay from refund option and customer service is
still available. Go to OnLine
Taxes and e-file your taxes!
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Tax
Planning
Use our Tax
Planning Guide to find out the latest tax saving tips. This guide
covers the 2003 tax law changes, capital gains / losses, traditional and
Roth IRAs, and Coverdell Education Savings Accounts. The sooner you
make your tax plans the more you can save on your tax return.
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Privacy
Policy Notice
OnLine Taxes knows that privacy is a major concern for all of our
customers as well as us. The information that OnLine Taxes collects from
the customer is used solely for the purposes of filing income tax returns
directly to the IRS and communicating with our customers. Access to this
information is restricted and is available to only those employees who
need to know the information in order to provide the customer service that
is expected. OnLine Taxes complies with all federal standards to protect
this information. OnLine Taxes does not sell, rent, loan, trade, lease or
otherwise transfer any personal information including email lists to any
third party. All information is treated as confidential information.
To view our complete privacy policy notice click
here.
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Customer
Questions/Requests
If you have any questions or requests, please send an email to the OnLine
Taxes help desk at Customer
Service, and we will personally respond to all emails received.
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OnLine Taxes is
an official provider of the IRS E-File program. |
Thank you and have a great year!
Bill White
Founder / President
On-Line Taxes, Inc.
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receiving this newsletter as a thank you for using www.online-taxes.com
in preparing your Federal Income Tax Return. Please do not reply to
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