Index of Everything Internal Revenue Service

Why Is The Internal Revenue Service Spending Money On Letters?

The Internal Revenue Service is spending $42 Million on letters to alert taxpayers to expect rebate checks as part of the economic stimulus plan. The notices are going out this month to an estimated 130 million households who filed returns for the 2006 tax year, at a cost $41.8 Million. Since this is just a letter and does not include a check, is it really needed?

Answer:Because each government agency is charged with wasting a certain amount of money each year, and this is the the way the IRS chose to do it. :-o

In 2003, The Internal Revenue Service Began To Mail Out Refund Checks Because Of A Change In The Tax Law. Econ

In 2003, the Internal Revenue Service began to mail out refund checks because of a change in the tax law. Economic forecasters predicted that consumption and GDP would increase because of higher refunds on income taxes. Pretend as if you are an economist and explain your thoughts on whether the tax cuts from the past few years have been successful in promoting economic growth or in preventing a deeper decline? Are there other changes to fiscal policy that you feel would have been more successful?

Answer:It is about increasing money supply. The government can do this in two ways: print more money and spend it themselves or take less money in taxes from both corporations and individuals. Notable are Pres. Kennnedy and Reagan who reduced taxes substantially. In both instances a number of things happened, however, we shall focus on Reagan as this is germaine to your question in current history. Revenues to the Treasury increased because individuals were more likely to pay their tax liability than to attempt to avoid it. The cost of money went down because there is more money available for loans and investment and as with any other comodity, the more of something there is, the less value it has. Alone, this fiscal policy was not enough in 2003. Why? Because it was not coupled with increased private sector spending like what RR did in the '80. That spending reduced the opportunity cost to business to assume risk and provided for tremendous ecomomic growth throughout the '90s. The success or failing of the 2003 tax cuts were not solely of the policy itself. In fact, the policy was working until the Federal Reserve systematically and relentlessly raised the cost of money through the raising of interest rates. In effect, the FR actions shrank money supply and cancelled out the stimulus provided to the economy through the tax cuts. The current FR actions coupled with tax cuts will fully work through the economy in two years or so, making the next president look like a hero.

Have You Received An Email From The Internal Revenue Service Offering A Quick Refund?

If you receive an email from the Internal Revenue Service offering a quick refund, it's probably a scam. A few people are getting the messages, with a link asking for your bank account and Social Security number. IRS-Indianapolis spokesman Jack Massey says the IRS would NOT solicit someone over e-mail - the IRS uses regular mail. Furthermore, the IRS already has your Social Security number. But, Massey says because the emails do look very real, complete with the IRS logo, it's easy to get fooled.

Answer:No, I haven't gotten phony IRS e-mails (or any IRS emails), in any of my accounts. I did hear about this on the news this morning. Predators are always around.... :(

I Received A Ltter From The Internal Revenue Service Stating We Would Be Receiving A Stimulus Check For1200.00

not that I am complaining, but we owe the irs, we have been on a paymnt plan with them where they take money out of our account every single month. says that the check will be mailed on May 30th. Are we really going to get one owing back taxes? or is this just a standard letter that goes out to everyone before they actually mail them?

Answer:The Letter you received from the IRS was to inform you how much Stimulus payment you qualified for. The IRS is required by law to apply Stimulus payment first to any outstanding tax liability, then to any other defaulted federal debt, like student loans, and any back child support. If only the fact that you have an outstanding tax liability then the IRS will apply the Stimulus payment there. If any money is left after the tax liability is paid in full the IRS will mail you a check for the balance. You can visit www.irs.gov or call the IRS at (800) 829-1040 to confirm my answer.

What Is The Regular Mail Address To The Internal Revenue Service?

More specifically, if I want to ask a question about tax forms.

Answer:They have many offices around the country. The address where you file your return will depend on where you live. http://www.irs.gov/file/content/0,,id=105693,00.html The main headquarters is in Washington, DC http://www.visitingdc.com/washington-dc/irs-address.htm If you have a question, it may be easier to just call them. 1-800-829-1040 http://www.irs.gov/contact/index.html?navmenu=menu3

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