2004 Instructions for Form 1040 (ALL) - Supreme Law Firm

Form 1040—Lines 66 Through 72d
Line 66 Line 69 Lines 72b Through 72d
Excess Social Security and Other Payments
DIRECT DEPOSIT
Tier 1 RRTA Tax Withheld Check the box(es) on line 69 to report any Simple. Safe. Secure.
If you, or your spouse if filing a joint return,
had more than one employer for 2004
and total wages of more than $87,900, too
much social security or tier 1 railroad re-
tirement (RRTA) tax may have been withheld.
You can take a credit on this line for
the amount withheld in excess of
credit from Form 2439, 4136, or 8885.
Refund
Fast Refunds! Choose direct deposit–a
fast, simple, safe, secure way to have
your refund deposited automatically
into your checking or savings account.
Complete lines 72b through 72d if you
$5,449.80. But if any one employer with- Line 71 want us to directly deposit the amount
held more than $5,449.80, you must ask
shown on line 72a into your checking or
that employer to refund the excess to you. Amount Overpaid
savings account at a bank or other financial
You cannot claim it on your return. Figure
If line 71 is under $1, we will send a refund institution (such as a mutual fund, brokerthis
amount separately for you and your
only on written request.
age firm, or credit union) in the United
spouse.
If you want to check the status of your States instead of sending you a check.
You cannot claim a refund for excess
refund, please wait at least 6 weeks (3 Note.
tier 2 RRTA tax on Form 1040. Instead, use
If you do not want your refund di-
weeks if you filed electronically) from the
Form 843.
rectly deposited into your account, draw a
date you filed your return to do so. But if line through the boxes on lines 72b and
For more details, see Pub. 505. you filed Form 8379 with your return, al- 72d.
low 14 weeks (11 weeks if you filed elec-
Why Use Direct Deposit?
tronically). See page 8 for details.
• You get your refund fast—in half the
Line 67 If the amount you overpaid is time as paper filers if you e-file.
large, you may want to decrease
Additional Child Tax Credit TIP
• Payment is more secure—there is no
the amount of income tax withcheck
to get lost.
held from your pay by filing a
What Is the Additional Child Tax new Form W-4. See Income Tax Withholdto
deposit your check.
• More convenient. No trip to the bank
Credit? ing and Estimated Tax Payments for 2005
This credit is for certain people who have at on page 57.
• Saves tax dollars. A refund by direct
least one qualifying child as defined in the
deposit costs less than a check.
Refund Offset
instructions for line 51 on page 37. The
If you owe past-due federal tax, state inadditional
child tax credit may give you a
You can check with your financome
tax, child support, spousal support, or
cial institution to make sure
refund even if you do not owe any tax.
TIP
certain federal nontax debts, such as stuyour
direct deposit will be ac-
Two Steps To Take the Additional dent loans, all or part of the overpayment
cepted and to get the correct
Child Tax Credit!
on line 71 may be used (offset) to pay the
routing and account numbers. The IRS is
past-due amount. Offsets for federal taxes
not responsible for a lost refund if you enter
Step 1. Be sure you figured the amount, if
are made by the IRS. All other offsets are
the wrong account information.
any, of your child tax credit. See the instructions
for line 51 that begin on page 37. made by the Treasury Department’s Finan-
If you file a joint return and fill in lines
cial Management Service (FMS). For fed- 72b through 72d, you are appointing your
Step 2. Read the TIP at the end of your eral tax offsets, you will receive a notice spouse as an agent to receive the refund.
Child Tax Credit Worksheet. Use Form from the IRS. For all other offsets, you will This appointment cannot be changed later.
8812 to see if you can take the additional receive a notice from FMS. To find out if
child tax credit, but only if you meet the
Line 72b
you may have an offset or if you have any
condition given in that TIP.
questions about it, contact the agency to The routing number must be nine digits.
which you owe the debt.
The first two digits must be 01 through 12
or 21 through 32. Otherwise, the direct de-
Injured Spouse Claim
posit will be rejected and a check sent in-
Line 68
If you file a joint return and your spouse stead. On the sample check on page 55, the
Amount Paid With Request has not paid past-due federal tax, state in- routing number is 250250025.
come tax, child support, spousal support, or Your check may state that it is payable
for Extension To File
a federal nontax debt, such as a student through a financial institution different
If you filed Form 4868 to get an automatic loan, part or all of the overpayment on line from the one at which you have your checkextension
of time to file Form 1040, enter 71 may be used (offset) to pay the past-due ing account. If so, do not use the routing
any amount you paid with that form or by amount. But your part of the overpayment number on that check. Instead, contact your
electronic funds withdrawal or credit card. may be refunded to you if certain condi- financial institution for the correct routing
If you paid by credit card, do not include on tions apply and you complete Form 8379. number to enter on line 72b.
line 68 the convenience fee you were For details, use TeleTax topic 203 (see
charged. Also, include any amounts paid page 8) or see Form 8379.
Line 72d
with Form 2688 or 2350.
Need more information or forms? See page 7. -54-
The account number can be up to 17 characters
(both numbers and letters). Include
hyphens but omit spaces and special symbols.
Enter the number from left to right
and leave any unused boxes blank. On the
sample check on page 55, the account