Tax Filing Season Opens with Debut of 1040 Central

WASHINGTON -- The Internal Revenue Service on Monday kicked off a new tax year by alerting taxpayers that 1040 Central and other enhanced electronic services should make the agency’s Web site an even easier-to-use source of information.

At IRS.gov, taxpayers will find information on 1040 Central about lower tax rates, larger child tax credits and the elimination of the “marriage penalty.” There are new income limits for Earned Income Tax Credit recipients. Investors will find new rates on capital gains and dividends and a revised Schedule D. Taxpayers also should review the Advance Child Tax Credit information to avoid an error on their return that could slow their refund.

IRS Commissioner Mark W. Everson unveiled the new 1040 Central feature on IRS.gov that is designed specifically for the individual taxpayers and for the tax professionals helping them. The new page pulls together much of the step-by-step information taxpayers need to prepare and file a return -- and check on refunds.

“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.”

-- NYSSCPA.org News Staff

Posted on 1/7/04