E-filing grows as tax returns go online nationwide
The Associated Press reports rising use of electronic tax filing as more taxpayers like Scheideler in New Milford PA file online. IRS data show 37.4 million e-filed returns mid March, up 12 percent from last year, with faster refunds and options for direct deposit or electronic payment. Experts note security, software variants, and costs, while some advise professional review for complex cases.
MENTIONED IN THIS ARTICLE
Scheideler
New Milford
Internal Revenue Service
IRS
H&r Block
Eset
Scott Gulbransen
Mountain View
Calif
Intuit Inc
2Nd Story Sofware Inc
Mark Ciaramutaro
E-Solutions
Kansas City
Ciaramitaro
David J
Silverman
IRS to double audits of corporate executives
The Internal Revenue Service will raise audits of corporate executives after a quick check found many not filing proper Ming tax returns. Keith Jones said a memo will direct agents to inspect executive returns at twice the current rate, including stock options, private jets and luxury apartments. Eight areas need more oversight amid scrutiny of compensation practices.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
Keith Jones
IRS
Jones
Financial Accounting Standards Board
Enron
WorldCom
Small Business Tax Extensions May Aid Final Returns
New York report notes that as tax season ends, small business owners should consider filing Form 4868 to obtain a four month extension. Experts say extensions reduce penalties for late filing and carry no increased audit risk, though penalties for late payment may apply.
MENTIONED IN THIS ARTICLE
New York
IRS extends tax deadline guidance for Form 4868 timing
The article explains extensions for 2003 tax returns with Form 4868. It notes the automatic extension until August 15 when needed, ability to request up to six extra months, and that a reasonable estimate of tax liability is required. If the estimate is deemed unreasonable, the extension becomes void. Even with nonpayment, the extension applies but penalties of 0.5 percent monthly accrue on any underpaid amount.
MENTIONED IN THIS ARTICLE
Barbara Weltman
Millwood
J.K. Lasser
IRS
Ers
Taxpayers reject campaign fund checkoff trend grows to 10.5 percent
In Dallas, taxpayers increasingly refuse the Presidential Election Campaign Fund on 1040 forms. The IRS notes the share of returns contributing has fallen from 27.5 percent in 1976 to 10.5 percent in 2003. Three primary candidates declined public funds, affecting the system’s viability and raising questions about its future.
MENTIONED IN THIS ARTICLE
Dallas
Internal Revenue Service
Bush
Howard Dean
John Kerry
Dean
Kerry
Campaign Finance Institute
Washington
John Green
University of Akron
Green
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