NEWS RELEASE FOR IMMEDIATE RELEASE February 11, 2004 Electronic Filing Encouraged for Accurate Returns, Faster Refunds (Washington, DC) The Office of Tax and Revenue (OTR) today urged District taxpayers to file their individual tax returns electronically during the 2004 tax-filing season. Filing electronically is easy to do, very accurate, and can provide refunds within 14 days. Daniel Black, deputy chief financial officer for OTR, said, "We continue to strive to make filing taxes easier and more customer friendly for our taxpayers. We urge them to file their taxes through one of our electronic methods - using our Electronic Taxpayer Service Center (eTSC) or commercial tax software. Not only are they easy to use, but they are very accurate and can provide faster refunds." Each year District taxpayers file returns and pay taxes that are one of the largest sources of revenue for the city. To make it easier and more efficient for them, OTR offers two electronic ways to file taxes: the free online eTSC or the federal/state e-file program. By use of the eTSC, taxpayers can file and pay their taxes online and check the status of their refunds. Federal/state e-file is a program that allows taxpayers to transmit their DC and federal returns electronically by use of one of the approved commercial software programs, either from their home PC or with the assistance of a tax practitioner. Additionally, eligible District taxpayers are strongly encouraged to take advantage of the District's Earned Income Tax Credit (EITC), which can give hard working, low-income families refunds. It is estimated that over 50,000 residents are eligible to take this refundable credit, which has the potential to put millions of dollars back into the local economy. Black continued, "This filing season we are working with a number of local organizations to spread the word about various tax benefits available to citizens, such as the refundable Earned Income Tax Credit (EITC). Use of this credit can be a win-win situation for taxpayers and the city." The EITC may provide taxpayers with a refund, even if they do not owe any tax. Calculated based on the federal return, the refundable credit can amount to up to $1,035. OTR provides tax preparation assistance at its Customer Service Center at 941 North Capitol Street, NE, and at the Penn Branch Municipal Center, 3220 Pennsylvania Avenue, SE. OTR's Customer Service Telephone Center can be reached at (202) 727-4TAX. Additionally, OTR will be participating in Congresswoman Norton's annual tax fair, which will be held at the new Convention Center on Saturday, February 21, 2004.