Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: MONDAY, April 11, 1994 TAG: 9404110141
SECTION: MONEY PAGE: A-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The IRS personnel will be there to assist taxpayers in filing their federal tax returns, and they will have IRS forms and publications.
About 900,000 taxpayers in Virginia are expected to file their returns this week as Friday's mailing deadline looms. That's about 25 to 30 percent of the projected 2.975 million Virginia returns.
The Internal Revenue Service also said about 200,000 people are expected to request a four-month extension for filing.
W.E. Williams, assistant to the president of H&R Block, a Kansas City, Mo.-based tax preparation company operating offices in Western Virginia, said it's important to file a return even if you can't afford to pay the bill. Anyone who fails to file, he pointed out, faces a 25 percent penalty.
Under a recent law, Williams said, people who owe money can pay by installments. Attach form 9465 stating you wish to make a series of payments. If you owe $1,000, for instance, you might attach a check for $400 and promise to pay $100 a month for the next six months.
The IRS will accept any reasonable payment plan under the policy that went into effect last year, Williams said.
If you can't complete the return for some reason, Williams said, file form 4868 instead. It provides for an automatic four-month extension in the filing time until August.
But there's a catch to seeking a delay in filing the return. The form for the extension must be accompanied by a check for the estimated taxes. That must be either at least 90 percent of what the actual tax bill turns out to be or 100 percent of the tax paid last year, Williams said.
The hours of the toll-free IRS telephone line have been extended today and Tuesday. The phones will be answered from 8 a.m. until 6:30 p.m. at 1-800-829-1040.
That number will be staffed from 8:30 a.m. to 4:30 p.m. Wednesday and Thursday, and from 8:30 a.m. to 6:30 p..m. Friday.
The number for ordering forms and publications is 1-800-829-3676. Questions about refunds must be asked through 1-800-829-4477.
by CNB