Last year, 6.8 million people filed the 1040PC tax return. The 1040PC
is an alternative to filing a conventional paper tax return. It is a
computer generated tax return that prints out only the lines on which
you made an entry. This format can reduce an 11 page conventional tax
return to two pages. Because you're using IRS accepted software,
there are fewer errors, and that means faster processing of your
return by the IRS. Look for IRS accepted software with the 1040PC
print option, advertised in computer magazines or at your local
software store.
All individual income tax returns, attachment forms and schedules can
be filed using the 1040PC format. Taxpayers who would normally file a
Form 1040A or 1040EZ may participate. However, these returns must be
filed in the format of a Form 1040. If you are expecting a refund you
have several options. The overpaid amount will be refunded by check
or by Direct Deposit to your checking or savings account. You can
also have your refund applied to next year's estimated tax, or
divided between the two options.
If you have a balance due file your 1040PC and pay any balance due
with a payment voucher by April 15, 1997.
With your IRS accepted tax preparation software package you can
prepare the 1040PC tax return using your own personal computer using
plain bond paper and any printer accepted by your software package.
After you print the 1040PC return, attach to the back top left hand
corner of the 1040PC return: Copy B of each Form W-2, W- 2G, 1099R
and any other required forms needing a signature other than the
taxpayer's, sign it, and mail it to IRS. If there is a balance due,
you will be given the address where you can send your payment and
payment voucher. In addition, many professional tax preparers also
offer the 1040PC format return.
Try 1040PC filing this year. It is a way to get your taxes accurately
prepared and quickly processed by IRS.
If you need more information, call 1-800-829-1040, and ask for the
Electronic Filing Coordinator.
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