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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Jan 19, 2004
Page
5
Washington AP reports the IRS unveils 1040 Central on the IRS home page to link taxpayers to forms guidance amid new tax laws. It highlights electronic filing, direct deposit refunds, free filing programs, and payment options, with millions of returns expected in 2004 and refunds often arriving in about two weeks.
Washington AP offers tax guidance for beginners outlining steps to organize documents collect receipts keep last year return and obtain forms from post offices or IRS site Start early if life changes occur and ensure name SSN match Check math and sign prepare for e filing to catch errors quickly
Lawmakers expanded benefits for soldiers in combat by doubling a death gratuity tax free and easing tax rules for deployed personnel. Reservists may deduct travel over 100 miles away from home, and an IRS Armed Forces Tax Benefits guide explains combat zone provisions. Soldiers in designated zones can file later and suspend audits for up to 180 days after return.
The AMT acts as a parallel tax system that can wipe out deductions and exemptions, especially for high earners in high tax states. Experts warn the number of AMT filers will soar into the millions by 2010, making planning and early advice essential to avoid surprise bills.
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