Tax News

CCH (cch.taxgroup.com) reports:

The IRS and the Free File Alliance (FFA) announced the opening of the Free File program for the 2007 tax season. Free File, a free tax preparation and electronic filing service for individual tax returns, is in its fifth year. The FFA is a group of private companies that partner with the IRS to offer the Free File program. Individuals with adjusted gross income of $52,000 or less (approximately 70 percent of U.S. taxpayers, or 95 million people) are eligible to use the program.
The changes and features of this year's Free File program include:
the program may be used to request the telephone excise tax refund;
Free File in Spanish will be available from two members of the FFA;
Free File providers will no longer offer refund anticipation loans or other ancillary products;
some FFA members will offer preparation of state tax returns for free; and
taxpayers may file Form 4868, Application for Automatic Extension of Time to File, using Free File.
Approximately 3.9 million individuals used Free File last year, an increase from 2.8 million users when the program debuted in 2003. According to a market research firm that conducts surveys for the IRS, Free File enjoys a high level of user satisfaction due to its convenience.
IR-2007-11, 2007FED ¶46,275
Other References:
Code Sec. 164
CCH Reference - 2007FED ¶9502.355
Code Sec. 4251
CCH Reference - ETR ¶18,135.68
Code Sec. 6011
CCH Reference - 2007FED ¶35,141.47
Code Sec. 6081
CCH Reference - 2007FED ¶36,789.1175
Tax Research Consultant
CCH Reference - TRC FILEIND: 15,204.05
CCH Reference - TRC FILEIND: 18,050
CCH Reference - TRC EXCISE: 9,056