Income Tax Fundamentals 2012, 30th ed. - CengageBrain
Income Tax Fundamentals 2012, 30th ed. - CengageBrain
Income Tax Fundamentals 2012, 30th ed. - CengageBrain
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Licens<strong>ed</strong> to:<br />
1-26 Chapter 1 The Individual <strong>Income</strong> <strong>Tax</strong> Return<br />
c Jorg Greuel/Photodisc/<br />
Getty Images, Inc.<br />
H&R Block, www.hrblock.com<br />
Another excellent Internet site for taxpayers is the one maintain<strong>ed</strong> by the computer tax<br />
software company, H&R Block. The <strong>Tax</strong> Tips section of the site contains information<br />
on law changes, tax planning, tax terms, and more.<br />
Will Yancey’s home page, www.willyancey.com<br />
This site is one of the best indexes available with links to other tax, accounting, and legal<br />
Internet sites. The site has hundr<strong>ed</strong>s of links to commercial Web sites, f<strong>ed</strong>eral government<br />
Web sites, state and local Web sites, and international Web sites.<br />
The IRS has issu<strong>ed</strong> warnings to taxpayers about identity theft scams where<br />
information is obtain<strong>ed</strong> from taxpayers through fake e-mail notices. The<br />
e-mails look official and request detail<strong>ed</strong> personal information. However,<br />
the IRS never sends unsolicit<strong>ed</strong> e-mails asking for personal information.<br />
Self-Study Problem 1.9 See Appendix E for Solutions to Self-Study Problems<br />
Indicate whether the following statements are true or false by circling the<br />
appropriate letter.<br />
T F 1. <strong>Tax</strong>payers can download tax forms and IRS publications from<br />
the IRS Web site.<br />
T F 2. A help function is available to aid users of the IRS site.<br />
T F 3. The H&R Block Web site is maintain<strong>ed</strong> by Practitioner’s Publishing<br />
Co. for users of its textbooks.<br />
LEARNING OBJECTIVE 1.10 ELECTRONIC FILING (e-filing)<br />
Understand the basics<br />
of electronic filing<br />
(e-filing).<br />
In Transition: The electronic filing rules discuss<strong>ed</strong> below are in constant transition<br />
as the IRS works to convert as many taxpayers as possible to electronic filing. Additional<br />
information is available at the IRS Web site (www.irs.gov).<br />
Electronic filing (e-filing) is the process of transmitting f<strong>ed</strong>eral income tax return<br />
information to the IRS Service Center using a computer with Internet access. For the taxpayer,<br />
electronic filing offers a faster refund, either through a direct deposit to the taxpayer’s<br />
bank account or by check. IRS statistics show an error rate of less than<br />
1.0 percent on electronically fil<strong>ed</strong> returns, compar<strong>ed</strong> with more than 20 percent on<br />
paper returns.<br />
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Editorial review has deem<strong>ed</strong> that any suppress<strong>ed</strong> content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
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