William Penn Life, 1999 (34. évfolyam, 2-12. szám)
1999-12-01 / 12. szám
THAT’S A QUESTION YOU MAY not have asked yourself very often, if ever. But, it’s one you should ask yourself at least once a year. We can’t stress enough the importance of regularly checking the beneficiaries listed on your life insurance policies. It is the only way to ensure that the people you want to receive the benefits of your life insurance are the ones who will receive it Think about the changes that have occurred in your life since you purchased your life insurance. Getting married, having children, losing a loved one, getting divorced, getting remarried—all these life changes affect your responsibilities. Do the beneficiaries currently listed on your life insurance policies reflect such changes? If you think you need to update the beneficiaires listed on your policies—either primary or secondary beneficiaries-contact your WPA representative. Or, call our Home Office toll-free at I <-800-848-7366. IRS encourages paperless filing WASHINGTON - The Internal Revenue Service is sending about 11 million postcards to taxpayers this month, inviting them to join the world of paperless tax return filing. The postcards contain e-file customer numbers (ECNs) that the recipients can use as "signatures" on returns they file electronically, eliminating the need to mail paper documents with real signatures. "We're sending the postcard to individuals who used a computer to prepare their own returns last year, even if they filed a paper form," said Robert E. Barr, IRS assistant commissioner for electronic tax administration. "We hope they'll save their postcards and use their ECNs to file electronically this year." In 1999, when this pilot program began, the IRS received 660,000 returns using ECNs. That represented more than one-fourth of the almost 2.5 million returns e-filed by taxpayers from their home computers. The IRS expects such taxpayers to e-file 4 million returns in 2000. The ECN is one of two pilot programs the IRS is conducting to counter a potential barrier to e-filing: that it, the need to mail a paper form after transmitting the electronic data. A similar pilot program allows taxpayers who e-file through partid pating tax preparers to create their own personal identification numbers (PINs) as electronic signatures. The IRS expects to select more than 18,000 preparers for the coming year's pilot, more than double the 8,100 it chose last year. Ten private sector organizations are partnering with the IRS to submit nominees for the pilot. The IRS selects preparers based on the credentials they have established as electronic return originators. Participating preparers will offer their e-filing clients the option of creating a five-digit PIN for the electronic return instead of signing a signature document, Form 8453. In 1999, the IRS received nearly half a million such returns with electronic signature. Taxpayers who use either electronic signature programs do not need to mail the signature documents to the IRS. The "Electronic Services" section of the IRS web site (www.irs.gov) has more information on these pilot programs, including information on software which will support the ECN option for those filing from home.lwfil Better late than never... WASHINGTON — Thousands of taxpayers may be extra thankful this holiday season. The IRS is dying to find them and send them their 1998 federal tax refunds. The IRS is looking for 102,840 taxpayers whose checks were returned as undeliverable by the U.S. Postal Service. These checks total almost $72 million, an average of almost $700 per check. They could rtot be delivered because of incorrect names and addresses or because taxpayers moved and did not give the IRS or the post office their new addresses. If you are due a refund and have not received it, call the IRS toll-free assistance number at 1-800-829-1040. The IRS says the best way to avoid the possibility of a lost, stolen or undeliverable refund is by having it deposited directly to your bank account. 4 Hilliu Pm lie, December 1999
