Tax Topic #552 |
2008 Tax Year |
Topic 552 - Tax and Credits Figured by the IRS
If you qualify and if you so choose, the IRS will figure your tax and certain
credits on Form 1040EZ (PDF), Form 1040A (PDF), or Form 1040 (PDF) if you mail your
return by the due date. This applies even if you do not have to file a return,
but are filing to claim the earned income credit or a refund of taxes paid.
If you paid too much tax (either through withholding or estimated taxes),
you will receive a refund. If you did not pay enough, you will receive a bill.
If a balance is due, make your check payable to the United States Treasury;
be sure to list your name, address, social security number(s), tax year, form
number, and telephone number on the check or money order.
If the IRS figures your tax, you will not be charged interest or penalty
for late payment if the bill for the tax due is paid within 30 days of the
date of the bill, or the due date of the return, whichever is later. If you
did not pay enough tax during the year, however, you may be charged a penalty
for underpayment of estimated tax. Refer to Topic 306, Penalty
for Underpayment of Estimated Tax, for more detailed information.
Certain parts of the return will need to be completed along with any schedules
that apply. Refer to Publication 967, The IRS Will Figure Your Tax,
for complete information.
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 certain requirements
you must meet to qualify for these credits. Refer to Publication 596, Earned
Income Credit, and Publication 524, Credit for the Elderly or
the Disabled, to see if you qualify. Also, refer to Topic 601 for Earned
Income Credit. Publication 967 provides 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. This publication also details
the circumstances under which certain taxpayers do not qualify to have the
IRS figure their tax.
Page Last Reviewed or Updated: December 22, 2008
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