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1040ez Tax Form 2013

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1040ez Tax Form 2013

1040ez tax form 2013 31. 1040ez tax form 2013   Tax on Unearned Income of Certain Children Table of Contents What's New Introduction Useful Items - You may want to see: Which Parent's Return To UseParents Who Do Not File a Joint Return Parent's Election To Report Child's Interest and DividendsEffect of Making the Election Figuring Child's Income Figuring Additional Tax Tax for Certain Children Who Have Unearned IncomeProviding Parental Information (Form 8615, lines A–C) Step 1. 1040ez tax form 2013 Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. 1040ez tax form 2013 Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. 1040ez tax form 2013 Figuring the Child's Tax (Form 8615, Part III) What's New Net Investment Income Tax. 1040ez tax form 2013 . 1040ez tax form 2013  For tax years beginning after December 31, 2012, a child whose tax is figured on Form 8615 may be subject to the Net Investment Income Tax (NIIT). 1040ez tax form 2013 NIIT is a 3. 1040ez tax form 2013 8% tax on the lesser of the net investment income or the excess of the child's modified adjusted gross income (MAGI) over the threshold amount. 1040ez tax form 2013 Use Form 8960, Net Investment Income Tax, to figure this tax. 1040ez tax form 2013 For more information on NIIT, go to www. 1040ez tax form 2013 irs. 1040ez tax form 2013 gov and enter “Net Investment Income Tax” in the search box. 1040ez tax form 2013 Introduction This chapter discusses the following two rules that may affect the tax on unearned income of certain children. 1040ez tax form 2013 If the child's interest and dividend income (including capital gain distributions) total less than $10,000, the child's parent may be able to choose to include that income on the parent's return rather than file a return for the child. 1040ez tax form 2013 (See Parent's Election To Report Child's Interest and Dividends , later. 1040ez tax form 2013 ) If the child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. 1040ez tax form 2013 (See Tax for Certain Children Who Have Unearned Income , later. 1040ez tax form 2013 ) For these rules, the term “child” includes a legally adopted child and a stepchild. 1040ez tax form 2013 These rules apply whether or not the child is a dependent. 1040ez tax form 2013 Useful Items - You may want to see: Publication 929 Tax Rules for Children and Dependents Form (and Instructions) 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends Which Parent's Return To Use If a child's parents are married to each other and file a joint return, use the joint return to figure the tax on the child's unearned income. 1040ez tax form 2013 The tax rate and other return information from that return are used to figure the child's tax as explained later under Tax for Certain Children Who Have Unearned Income . 1040ez tax form 2013 Parents Who Do Not File a Joint Return For parents who do not file a joint return, the following discussions explain which parent's tax return must be used to figure the tax. 1040ez tax form 2013 Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . 1040ez tax form 2013 Parents are married. 1040ez tax form 2013   If the child's parents file separate returns, use the return of the parent with the greater taxable income. 1040ez tax form 2013 Parents not living together. 1040ez tax form 2013   If the child's parents are married to each other but not living together, and the parent with whom the child lives (the custodial parent) is considered unmarried, use the return of the custodial parent. 1040ez tax form 2013 If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. 1040ez tax form 2013   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in chapter 2. 1040ez tax form 2013 Parents are divorced. 1040ez tax form 2013   If the child's parents are divorced or legally separated, and the parent who had custody of the child for the greater part of the year (the custodial parent) has not remarried, use the return of the custodial parent. 1040ez tax form 2013 Custodial parent remarried. 1040ez tax form 2013   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. 1040ez tax form 2013 Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. 1040ez tax form 2013 Do not use the return of the noncustodial parent. 1040ez tax form 2013   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. 1040ez tax form 2013 If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. 1040ez tax form 2013 Parents never married. 1040ez tax form 2013   If a child's parents have never been married to each other, but lived together all year, use the return of the parent with the greater taxable income. 1040ez tax form 2013 If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. 1040ez tax form 2013 Widowed parent remarried. 1040ez tax form 2013   If a widow or widower remarries, the new spouse is treated as the child's other parent. 1040ez tax form 2013 The rules explained earlier under Custodial parent remarried apply. 1040ez tax form 2013 Parent's Election To Report Child's Interest and Dividends You may be able to elect to include your child's interest and dividend income (including capital gain distributions) on your tax return. 1040ez tax form 2013 If you do, your child will not have to file a return. 1040ez tax form 2013 You can make this election only if all the following conditions are met. 1040ez tax form 2013 Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. 1040ez tax form 2013 Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). 1040ez tax form 2013 The child's gross income was less than $10,000. 1040ez tax form 2013 The child is required to file a return unless you make this election. 1040ez tax form 2013 The child does not file a joint return for the year. 1040ez tax form 2013 No estimated tax payment was made for the year, and no overpayment from the previous year (or from any amended return) was applied to this year under your child's name and social security number. 1040ez tax form 2013 No federal income tax was taken out of your child's income under the backup withholding rules. 1040ez tax form 2013 You are the parent whose return must be used when applying the special tax rules for children. 1040ez tax form 2013 (See Which Parent's Return To Use , earlier. 1040ez tax form 2013 ) These conditions are also shown in Figure 31-A. 1040ez tax form 2013 Certain January 1 birthdays. 1040ez tax form 2013   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. 1040ez tax form 2013 You cannot make this election for such a child unless the child was a full-time student. 1040ez tax form 2013   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. 1040ez tax form 2013 You cannot make this election for such a child. 1040ez tax form 2013 Full-time student. 1040ez tax form 2013   A full-time student is a child who during some part of each of any 5 calendar months of the year was enrolled as a full-time student at a school, or took a full-time on-farm training course given by a school or a state, county, or local government agency. 1040ez tax form 2013 A school includes a technical, trade, or mechanical school. 1040ez tax form 2013 It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. 1040ez tax form 2013 How to make the election. 1040ez tax form 2013   Make the election by attaching Form 8814 to your Form 1040. 1040ez tax form 2013 (If you make this election, you cannot file Form 1040A or Form 1040EZ. 1040ez tax form 2013 ) Attach a separate Form 8814 for each child for whom you make the election. 1040ez tax form 2013 You can make the election for one or more children and not for others. 1040ez tax form 2013 Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. 1040ez tax form 2013 Rate may be higher. 1040ez tax form 2013   If your child received qualified dividends or capital gain distributions, you may pay up to $100 more tax if you make this election instead of filing a separate tax return for the child. 1040ez tax form 2013 This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. 1040ez tax form 2013 However, if you file a separate return for the child, the tax rate may be as low as 0% (zero percent) because of the preferential tax rates for qualified dividends and capital gain distributions. 1040ez tax form 2013 Deductions you cannot take. 1040ez tax form 2013   By making the Form 8814 election, you cannot take any of the following deductions that the child would be entitled to on his or her return. 1040ez tax form 2013 The additional standard deduction if the child is blind. 1040ez tax form 2013 The deduction for a penalty on an early withdrawal of your child's savings. 1040ez tax form 2013 Itemized deductions (such as your child's investment expenses or charitable contributions). 1040ez tax form 2013 Reduced deductions or credits. 1040ez tax form 2013   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return including the following. 1040ez tax form 2013 Deduction for contributions to a traditional individual retirement arrangement (IRA). 1040ez tax form 2013 Deduction for student loan interest. 1040ez tax form 2013 Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. 1040ez tax form 2013 Credit for child and dependent care expenses. 1040ez tax form 2013 Child tax credit. 1040ez tax form 2013 Education tax credits. 1040ez tax form 2013 Earned income credit. 1040ez tax form 2013 Penalty for underpayment of estimated tax. 1040ez tax form 2013   If you make this election for 2013 and did not have enough tax withheld or pay enough estimated tax to cover the tax you owe, you may be subject to a penalty. 1040ez tax form 2013 If you plan to make this election for 2014, you may need to increase your federal income tax withholding or your estimated tax payments to avoid the penalty. 1040ez tax form 2013 See chapter 4 for more information. 1040ez tax form 2013 Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. 1040ez tax form 2013 Only the amount over $2,000 is added to your income. 1040ez tax form 2013 The amount over $2,000 is shown on Form 8814, line 6. 1040ez tax form 2013 Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. 1040ez tax form 2013 Include the amount from Form 8814, line 12, on Form 1040, line 21. 1040ez tax form 2013 Enter “Form 8814” on the dotted line next to line 21. 1040ez tax form 2013 If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040, line 21. 1040ez tax form 2013 Capital gain distributions and qualified dividends. 1040ez tax form 2013   If your child's dividend income included any capital gain distributions, see Capital gain distributions under Figuring Child's Income in Publication 929, Part 2. 1040ez tax form 2013 If your child's dividend income included any qualified dividends, see Qualified dividends under Figuring Child's Income in Publication 929, Part 2. 1040ez tax form 2013 Figuring Additional Tax Use Form 8814, Part II, to figure the tax on the $2,000 of your child's interest and dividends that you do not include in your income. 1040ez tax form 2013 This tax is added to the tax figured on your income. 1040ez tax form 2013 This additional tax is the smaller of: 10% × (your child's gross income − $1,000), or $100. 1040ez tax form 2013 Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44. 1040ez tax form 2013 Check box a on Form 1040, line 44. 1040ez tax form 2013 Figure 31-A. 1040ez tax form 2013 Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. 1040ez tax form 2013 Figure 31–A. 1040ez tax form 2013 Can You Include Your Child's Income On Your Tax Return? Tax for Certain Children Who Have Unearned Income If a child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. 1040ez tax form 2013 If the parent does not or cannot choose to include the child's income on the parent's return, use Form 8615 to figure the child's tax. 1040ez tax form 2013 Attach the completed form to the child's Form 1040 or Form 1040A. 1040ez tax form 2013 When Form 8615 must be filed. 1040ez tax form 2013   Form 8615 must be filed for a child if all of the following statements are true. 1040ez tax form 2013 The child's investment income was more than $2,000. 1040ez tax form 2013 The child is required to file a return for 2013. 1040ez tax form 2013 The child either: Was under age 18 at the end of the year, Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or Was over age 18 and under age 24 at the end of the year, was a full-time student, and did not have earned income that was more than half of his or her support. 1040ez tax form 2013 At least one of the child's parents was alive at the end of 2013. 1040ez tax form 2013 The child does not file a joint return for 2013. 1040ez tax form 2013 These conditions are also shown in  Figure 31-B. 1040ez tax form 2013 Earned income. 1040ez tax form 2013   Earned income includes salaries, wages, tips, and other payments received for personal services performed. 1040ez tax form 2013 It does not include unearned income as defined later in this chapter. 1040ez tax form 2013 Support. 1040ez tax form 2013   Your child's support includes all amounts spent to provide the child with food, lodging, clothing, education, medical and dental care, recreation, transportation, and similar necessities. 1040ez tax form 2013 To figure your child's support, count support provided by you, your child, and others. 1040ez tax form 2013 However, a scholarship received by your child is not considered support if your child is a full-time student. 1040ez tax form 2013 See chapter 3 for details about support. 1040ez tax form 2013 Certain January 1 birthdays. 1040ez tax form 2013   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. 1040ez tax form 2013 Figure 31-B. 1040ez tax form 2013 Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. 1040ez tax form 2013 Figure 31-B. 1040ez tax form 2013 Do You Have To Use Form 8615 To Figure Your Child's Tax?    IF a child was born on. 1040ez tax form 2013 . 1040ez tax form 2013 . 1040ez tax form 2013 THEN, at the end of 2013, the child is considered to be. 1040ez tax form 2013 . 1040ez tax form 2013 . 1040ez tax form 2013 January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. 1040ez tax form 2013 The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. 1040ez tax form 2013  **This child meets condition 3 only if the child was a full-time student who did not have earned income that was more than half of the child's support. 1040ez tax form 2013  ***Do not use Form 8615 for this child. 1040ez tax form 2013 Providing Parental Information (Form 8615, lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. 1040ez tax form 2013 (If the parents filed a joint return, enter the name and social security number listed first on the joint return. 1040ez tax form 2013 ) On line C, check the box for the parent's filing status. 1040ez tax form 2013 See Which Parent's Return To Use at the beginning of this chapter for information on which parent's return information must be used on Form 8615. 1040ez tax form 2013 Parent with different tax year. 1040ez tax form 2013   If the parent and the child do not have the same tax year, complete Form 8615 using the information on the parent's return for the tax year that ends in the child's tax year. 1040ez tax form 2013 Parent's return information not known timely. 1040ez tax form 2013   If the information needed from the parent's return is not known by the time the child's return is due (usually April 15), you can file the return using estimates. 1040ez tax form 2013   You can use any reasonable estimate. 1040ez tax form 2013 This includes using information from last year's return. 1040ez tax form 2013 If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. 1040ez tax form 2013    When you get the correct information, file an amended return on Form 1040X, Amended U. 1040ez tax form 2013 S. 1040ez tax form 2013 Individual Income Tax Return. 1040ez tax form 2013   Instead of using estimates, you can get an automatic 6-month extension of time to file if, by the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. 1040ez tax form 2013 S. 1040ez tax form 2013 Individual Income Tax Return. 1040ez tax form 2013 Extensions are discussed in chapter 1. 1040ez tax form 2013 Step 1. 1040ez tax form 2013 Figuring the Child's Net Unearned Income (Form 8615, Part I) The first step in figuring a child's tax using Form 8615 is to figure the child's net unearned income. 1040ez tax form 2013 To do that, use Form 8615, Part I. 1040ez tax form 2013 Line 1 (unearned income). 1040ez tax form 2013   If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. 1040ez tax form 2013 Adjusted gross income is shown on Form 1040, line 38, or Form 1040A, line 22. 1040ez tax form 2013 Form 1040EZ cannot be used if Form 8615 must be filed. 1040ez tax form 2013   If the child had earned income, figure the amount to enter on Form 8615, line 1, by using the worksheet in the instructions for the form. 1040ez tax form 2013   However, if the child has: excluded any foreign earned income, deducted either a loss from self-employment, or deducted a net operating loss from another year, then use the Alternate Worksheet for Form 8615, Line 1, in Publication 929 to figure the amount to enter on Form 8615, line 1. 1040ez tax form 2013 Unearned income defined. 1040ez tax form 2013   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually done. 1040ez tax form 2013 It includes taxable interest, dividends (including capital gain distributions), capital gains, unemployment compensation, the taxable part of social security and pension payments, and certain distributions from trusts. 1040ez tax form 2013 Unearned income includes amounts produced by assets the child obtained with earned income (such as interest on a savings account into which the child deposited wages). 1040ez tax form 2013 Nontaxable income. 1040ez tax form 2013   For this purpose, unearned income includes only amounts the child must include in total income. 1040ez tax form 2013 Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. 1040ez tax form 2013 Income from property received as a gift. 1040ez tax form 2013   A child's unearned income includes all income produced by property belonging to the child. 1040ez tax form 2013 This is true even if the property was transferred to the child, regardless of when the property was transferred or purchased or who transferred it. 1040ez tax form 2013   A child's unearned income includes income produced by property given as a gift to the child. 1040ez tax form 2013 This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. 1040ez tax form 2013 Example. 1040ez tax form 2013 Amanda Black, age 13, received the following income. 1040ez tax form 2013 Dividends — $800 Wages — $2,100 Taxable interest — $1,200 Tax-exempt interest — $100 Net capital gains — $100 The dividends were qualified dividends on stock given to her by her grandparents. 1040ez tax form 2013 Amanda's unearned income is $2,100. 1040ez tax form 2013 This is the total of the dividends ($800), taxable interest ($1,200), and net capital gains ($100). 1040ez tax form 2013 Her wages are earned (not unearned) income because they are received for work actually done. 1040ez tax form 2013 Her tax-exempt interest is not included because it is nontaxable. 1040ez tax form 2013 Trust income. 1040ez tax form 2013   If a child is the beneficiary of a trust, distributions of taxable interest, dividends, capital gains, and other unearned income from the trust are unearned income to the child. 1040ez tax form 2013   However, for purposes of completing Form 8615, a taxable distribution from a qualified disability trust is considered earned income, not unearned income. 1040ez tax form 2013 Line 2 (deductions). 1040ez tax form 2013   If the child does not itemize deductions on Schedule A (Form 1040), enter $2,000 on line 2. 1040ez tax form 2013   If the child does itemize deductions, enter on line 2 the larger of: $1,000 plus the portion of the child's itemized deductions on Schedule A (Form 1040), line 29, that are directly connected with the production of unearned income entered on line 1, or $2,000. 1040ez tax form 2013 Directly connected. 1040ez tax form 2013   Itemized deductions are directly connected with the production of unearned income if they are for expenses paid to produce or collect taxable income or to manage, conserve, or maintain property held for producing income. 1040ez tax form 2013 These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. 1040ez tax form 2013   These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). 1040ez tax form 2013 Only the amount greater than 2% of the child's adjusted gross income can be deducted. 1040ez tax form 2013 See chapter 28 for more information. 1040ez tax form 2013 Example 1. 1040ez tax form 2013 Roger, age 12, has unearned income of $8,000, no other income, no adjustments to income, and itemized deductions of $300 (net of the 2% limit) that are directly connected with his unearned income. 1040ez tax form 2013 His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. 1040ez tax form 2013 Roger enters $2,000 on line 2 because that is more than the total of $1,000 plus his directly connected itemized deductions of $300. 1040ez tax form 2013 Example 2. 1040ez tax form 2013 Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. 1040ez tax form 2013 She has no other income. 1040ez tax form 2013 She has itemized deductions of $1,050 (net of the 2% limit) that are directly connected with the production of her unearned income. 1040ez tax form 2013 Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). 1040ez tax form 2013 The amount on line 2 is $2,050. 1040ez tax form 2013 This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. 1040ez tax form 2013 Line 3. 1040ez tax form 2013   Subtract line 2 from line 1 and enter the result on this line. 1040ez tax form 2013 If zero or less, do not complete the rest of the form. 1040ez tax form 2013 However, you must still attach Form 8615 to the child's tax return. 1040ez tax form 2013 Figure the tax on the child's taxable income in the normal manner. 1040ez tax form 2013 Line 4 (child's taxable income). 1040ez tax form 2013   Enter on line 4 the child's taxable income from Form 1040, line 43, or Form 1040A, line 27. 1040ez tax form 2013   However, if the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, see the Form 8615 instructions or Pub. 1040ez tax form 2013 929. 1040ez tax form 2013 Line 5 (net unearned income). 1040ez tax form 2013   A child's net unearned income cannot be more than his or her taxable income. 1040ez tax form 2013 Enter on Form 8615, line 5, the smaller of line 3 or line 4. 1040ez tax form 2013 This is the child's net unearned income. 1040ez tax form 2013   If zero or less, do not complete the rest of the form. 1040ez tax form 2013 However, you must still attach Form 8615 to the child's tax return. 1040ez tax form 2013 Figure the tax on the child's taxable income in the normal manner. 1040ez tax form 2013 Step 2. 1040ez tax form 2013 Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) The next step in completing Form 8615 is to figure a tentative tax on the child's net unearned income at the parent's tax rate. 1040ez tax form 2013 The tentative tax at the parent's tax rate is the difference between the tax on the parent's taxable income figured with the child's net unearned income (plus the net unearned income of any other child whose Form 8615 includes the tax return information of that parent) and the tax figured without it. 1040ez tax form 2013 When figuring the tentative tax at the parent's tax rate on Form 8615, do not refigure any of the exclusions, deductions, or credits on the parent's return because of the child's net unearned income. 1040ez tax form 2013 For example, do not refigure the medical expense deduction. 1040ez tax form 2013 Figure the tentative tax on Form 8615, lines 6 through 13. 1040ez tax form 2013 Note. 1040ez tax form 2013 If the child or parent has any capital gains or losses, get Publication 929 for help in completing Form 8615, Part II. 1040ez tax form 2013 Line 6 (parent's taxable income). 1040ez tax form 2013   Enter on line 6 the parent's taxable income from Form 1040, line 43, Form 1040A, line 27, or Form 1040EZ, line 6. 1040ez tax form 2013   If the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) was used to figure the parent's tax, enter the amount from line 3 of that worksheet instead of the parent's taxable income. 1040ez tax form 2013 Line 7 (net unearned income of other children). 1040ez tax form 2013   If the tax return information of the parent is also used on any other child's Form 8615, enter on line 7 the total of the amounts from line 5 of all the other children's Forms 8615. 1040ez tax form 2013 Do not include the amount from line 5 of the Form 8615 being completed. 1040ez tax form 2013 Example. 1040ez tax form 2013 Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. 1040ez tax form 2013 The children's net unearned income amounts on line 5 of their Forms 8615 are: Sharon — $800 Jerry — $600 Mike — $1,000 Line 7 of Sharon's Form 8615 will show $1,600, the total of the amounts on line 5 of Jerry's and Mike's Forms 8615. 1040ez tax form 2013 Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). 1040ez tax form 2013 Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). 1040ez tax form 2013 Other children's information not available. 1040ez tax form 2013   If the net unearned income of the other children is not available when the return is due, either file the return using estimates or get an extension of time to file. 1040ez tax form 2013 See Parent's return information not known timely , earlier. 1040ez tax form 2013 Line 11 (tentative tax). 1040ez tax form 2013   Subtract line 10 from line 9 and enter the result on this line. 1040ez tax form 2013 This is the tentative tax. 1040ez tax form 2013   If line 7 is blank, skip lines 12a and 12b and enter the amount from line 11 on line 13. 1040ez tax form 2013 Also skip the discussion for lines 12a and 12b that follows. 1040ez tax form 2013 Lines 12a and 12b (dividing the tentative tax). 1040ez tax form 2013   If an amount is entered on line 7, divide the tentative tax shown on line 11 among the children according to each child's share of the total net unearned income. 1040ez tax form 2013 This is done on lines 12a, 12b, and 13. 1040ez tax form 2013 Add the amount on line 7 to the amount on line 5 and enter the total on line 12a. 1040ez tax form 2013 Divide the amount on line 5 by the amount on line 12a and enter the result, as a decimal, on line 12b. 1040ez tax form 2013 Example. 1040ez tax form 2013 In the earlier example under Line 7 (net unearned income of other children), Sharon's Form 8615 shows $1,600 on line 7. 1040ez tax form 2013 The amount entered on line 12a is $2,400, the total of the amounts on lines 5 and 7 ($800 + $1,600). 1040ez tax form 2013 The decimal on line 12b is  . 1040ez tax form 2013 333, figured as follows and rounded to three places. 1040ez tax form 2013   $800 = . 1040ez tax form 2013 333     $2,400   Step 3. 1040ez tax form 2013 Figuring the Child's Tax (Form 8615, Part III) The final step in figuring a child's tax using Form 8615 is to determine the larger of: The total of: The child's share of the tentative tax based on the parent's tax rate, plus The tax on the child's taxable income in excess of net unearned income, figured at the child's tax rate, or The tax on the child's taxable income, figured at the child's tax rate. 1040ez tax form 2013 This is the child's tax. 1040ez tax form 2013 It is figured on Form 8615, lines 14 through 18. 1040ez tax form 2013 Alternative minimum tax. 1040ez tax form 2013   A child may be subject to alternative minimum tax (AMT) if he or she has certain items given preferential treatment under the tax law. 1040ez tax form 2013 See Alternative Minimum Tax (AMT) in chapter 30. 1040ez tax form 2013    For more information on who is liable for AMT and how to figure it, see Form 6251, Alternative Minimum Tax—Individuals. 1040ez tax form 2013 For information on special limits that apply to a child who files Form 6251, see Certain Children Under Age 24 in the Instructions for Form 6251. 1040ez tax form 2013 Prev  Up  Next   Home   More Online Publications
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Program and Emphasis Areas for IRS Criminal Investigation

Criminal Investigation (CI) classifies its investigations into program and emphasis areas of fraud. Each program area below contains information on CI's involvement in that area, national statistics, and case summaries.

Abusive Return Preparer Enforcement

Return preparer fraud generally involves the orchestrated preparation and filing of false income tax returns (in either paper or electronic form) by unscrupulous preparers who may claim, for example: inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions.

Abusive Tax Schemes

Abusive tax scheme originally took the structure of abusive domestic and foreign trust arrangements. However, these schemes have evolved into sophisticated arrangements that take advantage of the financial secrecy laws of some foreign jurisdictions and the availability of credit/debit cards issued from offshore financial institutions.

Bankruptcy Fraud

One of Criminal Investigation's goals in bankruptcy fraud investigations is to increase voluntary compliance with federal tax laws through the prosecution of those committing significant crimes in the bankruptcy arena. Since the IRS is often a major creditor in many bankruptcy proceedings, it is important that we protect the interests of the IRS.

Corporate Fraud

Corporate fraud frequently involves violations of the Internal Revenue Code (IRC) through falsification of corporate and individual tax returns and CI has exclusive investigatory jurisdiction over criminal violations of the IRC.

Employment Tax Enforcement

Employment tax evasion schemes can take a variety of forms. Some of the more prevalent methods of evasion include pyramiding, employee leasing, paying employees in cash, filing false payroll tax returns or failing to file payroll tax returns. Evading employment taxes can have serious consequences for employers and the employees.

Financial Institution Fraud

Criminal Investigation focuses on tax and money laundering violations involving fraud against banks, savings and loan associations, credit unions, check cashers, money remitters, and other financial institutions. Currency Transaction Reports and Suspicious Activity Reports continue to be effective investigative tools in the financial world.

Gaming

Illegal gaming operations, including bookmaking, numbers, Internet and some charitable gaming operations, continue to be areas of compliance concern. Criminal Investigation continues to play an enforcement role in the illegal gaming industry and to support regulatory and legislative initiatives aimed at eliminating an environment conducive to illegal gambling.

General Fraud Investigations

Criminal Investigation special agents investigate violations of the tax laws and related financial crimes. Taxpayers who chose to willfully and intentionally not comply with their legal responsibility to file required tax returns and/or pay taxes pose a serious threat to tax administration and the American economy.

Healthcare Fraud

Multi-agency healthcare fraud investigations and prosecutions show that perpetrators of these schemes financially benefited from their fraudulent activities in false billings, mental health, nursing home fraud, chiropractic fraud, durable medical equipment fraud, staged accidents, pharmaceutical diversion, and patient referral (kickbacks) schemes. In these investigations, Criminal Investigation follows the money trail and considers both tax and money laundering perspectives.

Identity Theft Schemes

IRS Criminal Investigation (CI) detects and investigates tax fraud and other financial fraud, including fraud related to identity theft.

Insurance Fraud

Insurance Fraud can involve tax law and/or money laundering violations relative to insurance claims and fraud perpetrated against insurance companies. The variety of schemes include agent/broker premium diversion, phony insurance companies, offshore/unlicensed Internet companies, staged auto accidents, viatical and senior settlement.

International Investigations

International tax compliance is a top priority of the IRS. Complex international tax avoidance schemes and cross-border transactions have heightened the IRS’ concern about tax compliance. Individuals may attempt to use foreign accounts, trusts, and other entities to commit criminal violations of U.S. tax laws as well as narcotics, money laundering and Bank Secrecy Act (BSA) violations. 

Money Laundering & Bank Secrecy Act (BSA)

Money laundering is a very complex crime involving intricate details, often involving numerous financial transactions and financial outlets throughout the world.  Criminal Investigation has the financial investigators and expertise that is critical to “follow the money trail.”

Mortgage & Real Estate Fraud

The income earned from mortgage and real estate fraud schemes is often not reported on tax returns or is laundered to hide the money from the government. 

Narcotics-Related Investigations

Criminal Investigation's contribution to the war on narcotics is vital but sometimes difficult to recognize, because the work of IRS special agents usually doesn't make the headlines. The long hours of tracking down and documenting financial leads allows an investigation to go right to the door of the leader of the narcotics organization, which contributes to the disrupting and dismantling the country's major drug and money laundering organizations.

Non-filer Enforcement

There have always been individuals who, for a variety of reasons, argue taxes are voluntary or illegal. The courts have repeatedly rejected their arguments as frivolous and routinely impose financial penalties for raising such frivolous arguments. Take the time to learn the truth about frivolous tax arguments.

Public Corruption Crimes

Public corruption investigations encompass a wide variety of criminal offenses including bribery, extortion, embezzlement, illegal kickbacks, entitlement and subsidy fraud, bank fraud, tax fraud, and money laundering. Criminal Investigation concentrates its resources on the tax and money laundering aspects of these investigations in cooperation with other federal, state, and local law enforcement agencies. The expertise used in investigations has established our reputation as one of the leaders in the fight against corrupt public officials.

Questionable Refund Program (QRP)

Questionable Refund Program (QRP) is a nationwide, multifunctional program designed to identify fraudulent returns, to stop the payment of fraudulent refunds and to refer identified fraudulent refund schemes to be investigated and prosecuted criminally.

 


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How to Report Suspected Tax Fraud Activities

Page Last Reviewed or Updated: 05-Sep-2013

The 1040ez Tax Form 2013

1040ez tax form 2013 Publication 575 - Introductory Material Table of Contents What's New Reminders IntroductionThe General Rule. 1040ez tax form 2013 Individual retirement arrangements (IRAs). 1040ez tax form 2013 Civil service retirement benefits. 1040ez tax form 2013 Social security and equivalent tier 1 railroad retirement benefits. 1040ez tax form 2013 Tax-sheltered annuity plans (403(b) plans). 1040ez tax form 2013 Ordering forms and publications. 1040ez tax form 2013 Tax questions. 1040ez tax form 2013 Useful Items - You may want to see: What's New For purposes of the net investment income tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 408, 408A, or 457(b) plans). 1040ez tax form 2013 However, these distributions are taken into account when determining the modified adjusted gross income threshold. 1040ez tax form 2013 Distributions from a nonqualified retirement plan are included in net investment income. 1040ez tax form 2013 See Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, and its instructions for more information. 1040ez tax form 2013 Reminders Future developments. 1040ez tax form 2013  For the latest information about developments related to Publication 575, such as legislation enacted after it was published, go to www. 1040ez tax form 2013 irs. 1040ez tax form 2013 gov/pub575. 1040ez tax form 2013 In-plan Roth rollovers. 1040ez tax form 2013   Starting in 2013, the American Taxpayer Relief Act of 2012 expanded the rules for in-plan Roth rollovers to include more taxpayers. 1040ez tax form 2013 For more information, see In-plan Roth rollovers under Rollovers, discussed later. 1040ez tax form 2013 Photographs of missing children. 1040ez tax form 2013  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 1040ez tax form 2013 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 1040ez tax form 2013 You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 1040ez tax form 2013 Introduction This publication discusses the tax treatment of distributions you receive from pension and annuity plans and also shows you how to report the income on your federal income tax return. 1040ez tax form 2013 How these distributions are taxed depends on whether they are periodic payments (amounts received as an annuity) that are paid at regular intervals over several years or nonperiodic payments (amounts not received as an annuity). 1040ez tax form 2013 What is covered in this publication?   This publication contains information that you need to understand the following topics. 1040ez tax form 2013 How to figure the tax-free part of periodic payments under a pension or annuity plan, including using a simple worksheet for payments under a qualified plan. 1040ez tax form 2013 How to figure the tax-free part of nonperiodic payments from qualified and nonqualified plans, and how to use the optional methods to figure the tax on lump-sum distributions from pension, stock bonus, and profit-sharing plans. 1040ez tax form 2013 How to roll over certain distributions from a retirement plan into another retirement plan or IRA. 1040ez tax form 2013 How to report disability payments, and how beneficiaries and survivors of employees and retirees must report benefits paid to them. 1040ez tax form 2013 How to report railroad retirement benefits. 1040ez tax form 2013 When additional taxes on certain distributions may apply (including the tax on early distributions and the tax on excess accumulation). 1040ez tax form 2013 For additional information on how to report pension or annuity payments on your federal income tax return, be sure to review the instructions on the back of Copies B, C, and 2 of the Form 1099-R that you received and the instructions for Form 1040, lines 16a and 16b (Form 1040A, lines 12a and 12b or Form 1040NR, lines 17a and 17b). 1040ez tax form 2013 A “corrected” Form 1099-R replaces the corresponding original Form 1099-R if the original Form 1099-R contained an error. 1040ez tax form 2013 Make sure you use the amounts shown on the corrected Form 1099-R when reporting information on your tax return. 1040ez tax form 2013 What is not covered in this publication?   The following topics are not discussed in this publication. 1040ez tax form 2013 The General Rule. 1040ez tax form 2013   This is the method generally used to determine the tax treatment of pension and annuity income from nonqualified plans (including commercial annuities). 1040ez tax form 2013 For a qualified plan, you generally cannot use the General Rule unless your annuity starting date is before November 19, 1996. 1040ez tax form 2013 Although this publication will help you determine whether you can use the General Rule, it will not help you use it to determine the tax treatment of your pension or annuity income. 1040ez tax form 2013 For that and other information on the General Rule, see Publication 939, General Rule for Pensions and Annuities. 1040ez tax form 2013 Individual retirement arrangements (IRAs). 1040ez tax form 2013   Information on the tax treatment of amounts you receive from an IRA is in Publication 590, Individual Retirement Arrangements (IRAs). 1040ez tax form 2013 Civil service retirement benefits. 1040ez tax form 2013   If you are retired from the federal government (regular, phased, or disability retirement) or are the survivor or beneficiary of a federal employee or retiree who died, get Publication 721, Tax Guide to U. 1040ez tax form 2013 S. 1040ez tax form 2013 Civil Service Retirement Benefits. 1040ez tax form 2013 Publication 721 covers the tax treatment of federal retirement benefits, primarily those paid under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS). 1040ez tax form 2013 It also covers benefits paid from the Thrift Savings Plan (TSP). 1040ez tax form 2013 Social security and equivalent tier 1 railroad retirement benefits. 1040ez tax form 2013   For information about the tax treatment of these benefits, see Publication 915, Social Security and Equivalent Railroad Retirement Benefits. 1040ez tax form 2013 However, this publication (575) covers the tax treatment of the non-social security equivalent benefit portion of tier 1 railroad retirement benefits, tier 2 benefits, vested dual benefits, and supplemental annuity benefits paid by the U. 1040ez tax form 2013 S. 1040ez tax form 2013 Railroad Retirement Board. 1040ez tax form 2013 Tax-sheltered annuity plans (403(b) plans). 1040ez tax form 2013   If you work for a public school or certain tax-exempt organizations, you may be eligible to participate in a 403(b) retirement plan offered by your employer. 1040ez tax form 2013 Although this publication covers the treatment of benefits under 403(b) plans and discusses in-plan Roth rollovers from 403(b) plans to designated Roth accounts, it does not cover other tax provisions that apply to these plans. 1040ez tax form 2013 For that and other information on 403(b) plans, see Publication 571, Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools and Certain Tax-Exempt Organizations. 1040ez tax form 2013 Comments and suggestions. 1040ez tax form 2013   We welcome your comments about this publication and your suggestions for future editions. 1040ez tax form 2013   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 1040ez tax form 2013 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 1040ez tax form 2013 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040ez tax form 2013   You can send your comments from www. 1040ez tax form 2013 irs. 1040ez tax form 2013 gov/formspubs/. 1040ez tax form 2013 Click on “More Information” and then on “Comment on Tax Forms and Publications. 1040ez tax form 2013 ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. 1040ez tax form 2013 Ordering forms and publications. 1040ez tax form 2013   Visit www. 1040ez tax form 2013 irs. 1040ez tax form 2013 gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. 1040ez tax form 2013 Internal Revenue Service 1201 N. 1040ez tax form 2013 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 1040ez tax form 2013   If you have a tax question, check the information available on IRS. 1040ez tax form 2013 gov or call 1-800-829-1040. 1040ez tax form 2013 We cannot answer tax questions sent to either of the above addresses. 1040ez tax form 2013 Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 525 Taxable and Nontaxable Income 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) 571 Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools and Certain Tax-Exempt Organizations 590 Individual Retirement Arrangements (IRAs) 721 Tax Guide to U. 1040ez tax form 2013 S. 1040ez tax form 2013 Civil Service Retirement Benefits 915 Social Security and Equivalent Railroad Retirement Benefits 939 General Rule for Pensions and Annuities Form (and Instructions) W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 1040ez tax form 2013 4972 Tax on Lump-Sum Distributions 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts See How To Get Tax Help near the end of this publication for information about getting publications and forms. 1040ez tax form 2013 Prev  Up  Next   Home   More Online Publications