Sentence Examples

  • Otherwise known as an OIC, this is a final option that requires an application and IRS approval to allow a taxpayer to resolve the debt for less than the amount owed, only after other payment options have failed for one reason or another.
  • Despite this, the representative should be able to provide the date the return was received, the amount of any refund due, the date the refund was electronically transferred or mailed and whether any amount is owed by the taxpayer.
  • If a taxpayer answers "yes" on line 13 of the Child Tax Credit worksheet, lines nine or ten of forms 1040, 1040A or 1040NR, they can carry the additional amount to line 65 on form 1040, 42 on form 1040A or 61 on form 1040NR.
  • To amend a return, the Internal Revenue Service (IRS) requires a taxpayer to submit form 1040X, titled "Amended U.S. Individual Tax Return," and form 5405, titled "First Time Homebuyer Credit and Repayment of the Credit."
  • A tax on the whole income of the taxpayer, whatever its source.