пятница, 2 марта 2012 г.

MILLIONS RUSH TO BEAT TAX DEADLINE

WASHINGTON (AP) -- Taxpayers scrambling to meet today's midnightdeadline for filing federal returns have plenty of company.

The Internal Revenue estimates that 36 million to 37 millionreturns are filed in the two weeks before the deadline -- about 30percent of the annual total. It anticipates that an additional 6.1million taxpayers will ask for automatic extensions giving them fourmonths, until Aug. 15, to file.

Post offices in every major city are extending hours or offeringlate mail pickups. Many will be open until midnight.Whether procrastinators file their taxes at midnight or ask for anextension, the key is to take some action, IRS Commissioner MargaretMilner Richardson stressed today."You really must file something or else you will incur a penalty,"she said on NBC's "Today" show. And, she warned, "if you file anextension you still have to pay" if you owe, she said.With Americans' attention focused on taxation, at least for a day,politicians and others are pushing their tax-related causes.* The House planned to vote today on a constitutional amendmentrequiring a two-thirds majority of the House and Senate to approvetax increases. The proposal was deleted last year from abalanced-budget constitutional amendment, which fell one vote shortof clearing the Senate.House Speaker Newt Gingrich, R-Ga., promised GOP freshmen andother conservatives a chance to spotlight the issue today butdoubtedthe proposal would gain the two-thirds vote needed to amend theConstitution.* The Republican National Committee is airing televisionadvertisements raking President Clinton for his veto of theRepublican balanced budget plan in January. Among its provisions wasa $500-per-child tax credit. Clinton favors a more limited and lessexpensive credit.* An annual study by the Tax Foundation, a research organizationfinanced by corporations, shows this year's Tax Freedom Day will bethe latest ever. The typical American must work until May 7 to earnenough to pay federal, state and local taxes, it said. That's thesame date as last year but represents an extra day of work because1996 is a leap year. The tax bite in an eight-hour day is two hoursand 47 minutes, the group said.* The Competitiveness Policy Council, a bipartisan advisory panelestablished by Congress, is conducting a "Save Your Tax Refund"campaign. It commissioned a survey that indicated more than 70million Americans expect refunds totaling $92 billion. But onlyone-third plan to save the refund.Taxpayers sweating out the final hours before the filing deadlineare finding more high-tech assistance from the IRS. Forms can bedownloaded from the IRS home page on the computer Internet orobtained by fax machine.The IRS home page also has tax information on a wide range oftopics. Or taxpayers can listen to tapes on about 150 subjects bycalling (800) 829-4477. That's also the number to check on thestatus of refunds.Taxpayers who can't get the information or forms they need canreceive a four-month filing extension with Form 4688. However, it isnot an extension of time to pay any taxes owed. Extension filersshould estimate how much they owe and include a check.Taxpayers can request an installment payment plan with Form 9465.

Комментариев нет:

Отправить комментарий