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 Tax News
Many businesses didn't claim tax refund
WASHINGTON - Sometimes the IRS can't get people to cooperate, even when it tries to give money away. As of last November less than 6 percent of business taxpayers filing returns had made claims for the Telephone Excise Tax Refund, a once-only payback for a now defunct tax, according to the Treasury Inspector General for Tax Administration. Many may still be eligible to file claims, the report said, but "we believe a significant amount of the telephone excise tax collected by the IRS from businesses might never be refunded."
Tax rebates start showing up in bank accounts
WASHINGTON - The government began depositing tax rebate checks in thousands of bank accounts on Monday as the stimulus program aimed at giving the ailing economy a jump-start got under way early. No deposits will be made Thursday while the IRS prepares a big batch of 5 million direct deposits scheduled on Friday. Both the direct deposit payments and the paper checks are being processed by the last two digits of a taxpayers' Social Security number.
  
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