Financial Resource: Beginner Investing to Financial Independence!

The IRS wants to make it as easy as possible for anyone who paid the tax to get this special tax refunds . If you paid the tax and haven’t filed yet, here are some tips to help you figure the refund correctly and get it quickly:

• File electronically. Electronic-filing software flags often overlooked tax breaks and helps you figure them accurately and report them properly. If you use a professional tax preparer, ask that person to e-file your return.

• Free IRS E-file. If your income is $52,000 or less, use the Free File link on this Web site to connect to a private-sector company offering free e-file services.

• Choose direct deposit. Whether you file electronically or on paper, you can get your instant tax refund at least a week sooner by having it deposited directly into your checking or savings account.

• Consider using the standard-refund amount for the telephone-taxes refund. Though using the standard amount is optional, it is easy to figure and approximates the eligible amount for most individual taxpayers. You only have to fill out one line on your return, and you don’t need to present proof to the IRS. The standard amount, ranging from $30 to $60, is based on the number of exemptions you can claim on your return.

• If you paid more than the standard amount, you may figure your refund using the actual amount of tax shown on your phone bills and other records. Base your refund request on the three-percent federal tax refund paid, not the total phone bill. Do not count tax paid on local-only service. You must have the phone bills or other records adequate to support the amount you are requesting. These documents should not be sent along with the refund request but should be retained in case the IRS questions the amount requested.

• Do not file duplicate requests. If you file a regular income-tax return, do not file Form 1040EZ-T. If you want to take advantage of the earned income tax credit for low and moderate income workers, the child tax credit or other tax breaks, file a regular return and include your telephone- tax refund loan request on that return.

• Stay away from tax preparers who falsely claim that many, if not most, phone customers can get hundreds of dollars or more back under this program.

• Use the Telephone Excise Tax Refund section on the front page this Web site. Here, you can download forms, find answers to frequently-asked questions and link to participating Free File partners.

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