IRS Rev. Proc. 2008-21

[ecb34691]

RLymanC doesn't believe in the IRS rev proc about $1 and about e-filing these returns. Many software companies have already made changes and my company has been working with IRS to get these e-filed. My company software was even updated 3/4 to be able to include direct deposit information (at IRS request) for these returns so that the rebate will go direct deposit. The Commissioner of IRS has said in various press conferences that the direct deposit rebates will go out first and check after that. Did you hear the President say last week that checks will be going out mid-may? IRS has indicated "unoffically" that direct deposits will go out 5/2 and 5/9.

The only other about information from IRS about payments is if you had a "bank product", ie. RAL, etc. or elected a direct debt on a balance due that the rebates would be by check.

[David1980]

The IRS is working to update its systems to accept electronic versions of these limited-information returns for taxpayers who otherwise have no need to file a tax return. The IRS is also working with the software community to handle these returns electronically at a future date.

Guess they decided not to update its systems when a readily available work-around was present.

Where does this $1.00 idea come from???

I imagine the first person with it was some tax preparer who couldn't get it to efile and thought "Hey, let's put in $1!"

However, it's now official from IRS.

http://www.irs.gov/pub/irs-drop/rp-08-21.pdf

$1 is legit. There is no "special version" of a 1040A. And I agree with Koss' post 110%!