Rapid Tax Refund - File Online Income Tax and Get Rapid Tax Refund.

Want your refund faster? Have it deposited directly into your bank account. More taxpayers are choosing direct deposit as the way to receive their federal tax refunds. More than 52 million people had their tax refunds deposited directly into their bank accounts in 2005. It’s a secure and convenient way to get your money in your pocket faster.

• Security. The payment is secure — there is no check to get lost. Each year thousands of refund checks are returned by the US Post Office to the IRS as undeliverable mail. Direct deposit eliminates undeliverable mail and is also the best way to guard against having a tax refund stolen.
• Convenience. There’s no special trip to the bank to deposit a check!
To request direct deposit, follow the instructions for “Refund” on your Tax Return Preparation.
Want an even faster refund? Try e-file! Taxpayers who file electronically get their refunds in about half the time as those who file paper returns.

A word of caution — some financial institutions do not allow a joint refund to be deposited into an individual account. Check with your bank or other financial institution to make sure your direct deposit will be accepted. Also, make sure you have the correct nine-digit routing number and your account number when selecting direct deposit.

For more information about direct deposit of your tax refund, check the instructions for your tax form. This and other helpful tips are available in IRS Publication 17, Your Federal Income Tax. To get a copy, visit the Forms and Publications section of the IRS Web site, IRS.gov, or call 1-800-TAX-FORM (1-800-829-3676).

Labels: Rapid Tax Refund through Direct Deposit

The telephone Tax Refunds is a one-time payment available on your 2006 federal income tax return, designed to refund previously collected long-distance federal excise taxes. It is available to anyone who paid long-distance taxes on landline, cell phone or Voice over Internet Protocol (VoIP) service.

In general, anyone who paid the long-distance telephone tax will get the tax refund on their 2006 federal income tax return. This includes individuals, businesses and nonprofit organizations. The 2006 return is usually filed during 2007.

The IRS is making it easier for taxpayers by offering a standard refund amount between $30 and $60, so they don’t need to gather old phone bills. Taxpayers who choose the standard amount will only need to fill out one line on their tax returns. The standard amount is based on actual telephone usage data and the amount applicable to a family or other household reflects the long-distance phone tax paid by similarly sized families or households. Using this amount is the easiest way for taxpayers to get their refunds and avoid gathering 41 months of old phone records.

In general, any individual, business or nonprofit organization that paid long-distance tax for service billed after Feb 28, 2003 and before Aug 1, 2006 is eligible to request the refund with suitable Tax Preperation.

Instructions for requesting this refund will be included with your tax forms and at irs.gov. Therefore, most people will not need to call the IRS. If you decide to figure the actual amount and need to obtain copies of your phone bills, you should contact your phone service provider. Telephone companies may charge for copies of past bills.

The standard amount includes interest. The IRS will issue guidance later this year relating to the payment of interest where the actual expense method is used. If you are in a position where you are not filing a return, you can still get the refund by Tax Filling with form 1040EZ-T.

Labels: Telephone Tax Refund