Washington (Jan. 6, 2004) -- This week, 28 million electronic tax filers will receive postcards and 34 million paper filers will receive Form 1040 booklets as the 2004 filing season gets underway. The IRS expects to process 131 million individual tax returns this year, approximately the same as last year. This year, according to the IRS, more than 53 million taxpayers will opt to e-file.
The Internal Revenue Service has begun the new tax year by introducing 1040 Central at
"At 1040 Central, taxpayers will find virtually everything they need for their 2003 tax return. The 1040 Central page can be a one-stop location for help," Everson said. "The 1040 Central section reflects our effort to make IRS.gov the easiest, fastest and best option for taxpayers. You don't have to come to us; we are available to you electronically 24 hours a day, seven days a week."
In addition to highlights of the latest tax law changes, links to IRS e-file and Free File, and the interactive “Where's My Refund?,” the 1040 Central page can also help avoid errors when it comes to the advance child tax credit. Since the 2003 claimed credit must be reduced by the amount of the advance payment received last year, a taxpayer or practitioner may need to check the amount of the advance payment at 1040 Central.
-- WebCPA staff
