1996 Tax Help Archives  

Tax and Credits Figured by IRS

This is archived information that pertains only to the 1996 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

If you choose, the IRS will figure your tax on Form 1040EZ, Form 1040A, or Form 1040. If you paid too much tax, you will receive a refund. If you did not pay enough, you will be billed. You will not be charged interest or the penalty for late payment if the bill for the tax due is paid within 30 days of the notice date or by April 15, 1997, whichever is later. However, if you did not pay enough tax during the year, you may be charged a penalty for underpayment of estimated tax. Select Topic 306 for more detailed information.

Fill in the parts of the return that apply to you. Attach your Forms W-2. Sign and date the return and mail it by April 15, 1997. Both spouses must sign a joint return.

If you qualify for the earned income credit or the tax credit for the elderly or the disabled, we will figure it for you. However, there are several requirements you must meet. These are listed in your tax package and in Publication 596, Earned Income Credit; and Publication 524, Credit for the Elderly or the Disabled. Refer to them to see if you qualify. Publication 967, IRS Will Figure Your Tax, is available for details on what information you must provide us, such as which lines you must fill in and which forms you must complete and attach to your return.

If you don't have to file a return, but are filing only to take the earned income credit, follow the instructions in your tax package.

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