Daily Tax Update - April 6, 2007

MOST LAST-MINUTE TAX RETURNS FILED ELECTRONICALLY: Today, the IRS said that more and more taxpayers are using e-file in advance of the April 17 tax deadline than in years past. New IRS statistics show that while e-file is up for this year, the increase was even more significant during the month of March. The IRS said that the average refund this year is $2,394, up from $2,314 last year.

  • IRS Commissioner Mark Everson said, "Electronic filing is more than just a quick refund. E-file is a great option for last-minute filers, because the IRS verifies that it has received your return. People who file electronically make fewer mistakes, too. That can give you real peace of mind when you’re rushing to meet the deadline."

INTERNAL REVENUE SERVICE - CIRCULAR 230 DISCLOSURE:
As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.

STEPTOE & JOHNSON LLP - TAX PRACTICE
Steptoe & Johnson LLP has one of the largest and most diverse law firm tax practices in the country. The practice covers the entire spectrum of federal taxation, including representation of businesses before the Congress, Treasury and the national office of the IRS; transactional planning for domestic and multinational corporations; complex audit and controversy work for corporations and other business interests contesting IRS adjustments; litigation before the Tax Court, Court of Federal Claims, district courts, courts of appeals and the Supreme Court. The firm's tax practice also encompasses all aspects of employee benefits (ERISA), executive compensation, tax-exempt organizations and charitable giving. Steptoe has an extensive state and local tax practice, representing an array of business clients on complex sales and use tax, corporate income tax and property tax matters, both advising those clients and handling audits, administrative appeals, and litigation for them. Read more information on Steptoe's tax practice.