Refunds expected in summer

Thursday, June 7, 2001 | 11:44 a.m.

The Internal Revenue Service will put $292 million in the pockets of 695,000 Nevadans this summer thanks to the Economic Growth and Tax Relief Reconciliation Act of 2001 signed into law today by President Bush.

The money is being called an "advanced tax credit payment" and is eligible to everyone who had a tax liability -- whether they owed additional taxes on April 15 or received a refund for money overpaid for the 2000 tax year.

"If there is an outstanding balance owed, the money will go to that," said Bill Brunson, regional IRS spokesman in Phoenix. "So if you owed $500, and your advanced tax credit payment will be $600, you will get $100."

Married couples filing jointly will receive up to $600. Heads of household could receive up to $500 and single taxpayers will get as much as $300. People claimed as dependents on other taxpayers' 2000 tax return won't get a check.

Brunson and other IRS officials are urging Nevadans and others not to flood the IRS offices with calls about when their checks will be cut and mailed. That, he said, is determined by a simple formula -- the last two digits of the primary taxpayer's Social Security number.

Checks for those whose Social Security numbers end in 00-09 will go out on July 23. Here's the rest: 10-19, July 30; 20-29, Aug. 6; 30-39, Aug. 13; 40-49, Aug. 20; 50-59, Aug. 27; 60-69, Sept. 3; 70-79. Sept. 10; 80-89, Sept. 17; 90-99, Sept. 24.

Taxpayers will in mid-July be sent a letter telling what amount they will receive and on what date it will be mailed out, Brunson said. He noted that this also will help the IRS keep track of where taxpayers are so that the refunds are sent to the correct address.

"We will be checking weekly with the United States Postal Service for change of address (cards)," Brunson said, urging people who have moved or plan to move this summer to file new addresses with their local post office branches.

Brunson said taxpayers are urged to call the IRS hotline toll-free at (800) 829-1040 to hear a recording that hopefully will answer questions about the new law. Also, a Frequently Asked Questions -- or FAQ -- site has been set up on the IRS website (www.irs.gov) to answer taxpayer questions about the law.

The IRS tells taxpayers in a news release that they "don't need to do anything to receive the checks. ... Taxpayers don't need to call, fill out special forms or do anything else to receive the checks."

Brunson said calls on check inquiries should not be made until October if a taxpayer did not get a check.

"This is the result of a tax bracket change," Brunson said.