The Internal Revenue Service (IRS) recently released new
final regulations related to filing claims for credits or refunds. These new
regulations set in place where taxpayer scan and should file credit or refund claims.
The new regulations indicate that, unless special
instructions have been given, taxpayers should file credit or refund claims at
the service center where they are currently required to file tax returns. It
doesn’t matter where the tax was originally paid or where it must be paid; the
applicable service center is still where taxpayers should go to file credit and
refund claims.
These changes were updated from Section 1210 of the Tax
Reform Act of 1976, the Community Renewal Tax Relief Act of 2000, and the
Internal Revenue Service Restructuring and Reform Act of 1998.
Finally, one add-on to the new regulations is that the IRS
is now able to require additional claim forms as it deems necessary.
Taxpayers who are concerned about these new regulations, who
need to know where their service center is, or who have questions about how the
new regulations affect them should contact their accountants or financial
advisors.
In fact, even without the new regulations, this is always a
smart step to take when filing credit or refund claims. Professionals in the
field can help you to ensure that all forms are filled out properly and
correctly, reducing the chances of an audit or a delay or denial in receiving
the credit.