December 26, 1990
IRS Unveils 1990 Tax Forms
WASHINGTON - When tax packages start showing up in mailboxes across the
country on December 28, instead of the day after Christmas as in
past years, millions of people will find a simpler form to use for
reporting 1990 taxes.
The Internal Revenue Service today announced the annual mailout
of tax packages and explained that changes to the Form 1040A will
allow up to 4.5 million taxpayers -- mostly those with retirement
income -- to file the simpler form rather than the long Form 1040.
The 1040A can now be used by people with pension or annuity income,
IRA distributions or taxable social security benefits for 1990. It
can also be used by those who claim the tax credit for the elderly
or disabled or pay estimated taxes.
Single taxpayers who use the one page Form 1040EZ will receive
a different package this year, too. The form, unchanged from last
year, is now in its own booklet. In the past, the Forms 1040A and
1040EZ with instructions were contained in the same booklet.
For the second year in a row taxpayers will be filing returns
under relatively unchanged tax law. Tax rate brackets, standard
deductions, exemptions and the earned income credit for low income
people have all been adjusted for inflation. For the self-employed,
a new deduction replaces the self-employment tax credit.
About 97 million taxpayers will receive tax packages. Another
11 million, those who filed form or business schedules and used tax
forms provided by their commercial tax preparers last year, will get
only a postcard. Last year IRS saved $1 million by sending
postcards instead of the more costly tax packages. Postcard
recipients who need a tax package can mail the reply part of the
card back to IRS and one will be sent.
IRS said it expects that 113 million returns will be filed for
1990 and that it will issue tax refunds to about 70 percent of all
taxpayers. Last year over 76 million refunds were issued averaging
about $900 each.
Electronic tax filing will be used this year by an estimated 6
million taxpayers, up from 4 million last year. This service is
offered by preparers and transmitters who have completed data
transmission testing and have been accepted into the electronic
filing program by IRS. Those who file electronically generally get
refunds quicker -- within three weeks -- and lessen the chance that
simple math errors will slow processing their returns.
Those who need forms other than those included in their tax
package can call a new IRS toll free number, 1-800-TAX-FORM
(1-800-8929-3676) or visit their local IRS office. Forms will also
be available at many banks, post offices and libraries.
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