File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

1040ez Tax Forms To Print

1040 Easy FormNeed 2009 Tax ReturnH&r Block E FileIrs Tax FormsFree 1040ez OnlineFile 2011 Taxes Online For FreeAdd 1098 T Information 1040x FormH&r Block OnlineIrs Form 1040 EzFreetaxusa 2006Federal Income Tax FormsFederal Tax AmendmentPrintable 1040ez FormH&r Block 2011 Tax Software DownloadFederal Taxes 20112011 Form 10401040x Amended Tax FormFile An Amended Tax Return1040nr Online Tax CalculatorHow To File An Amended Tax Return For 20132013 1040ez FormWww Mypay Gov1040ez Irs GovFiling My State Taxes Free2011 Federal Tax Forms And InstructionsIrs Forms Instructions 1040ezBlank 1040ez FormIrs Gov FreefileFree Federal And State Tax Filing 2012Irs Forms1040x For 2011State Income Tax Free FilingFree FileIrs Gov FormsTaxact 1040xMypay Dfas Mil MypayTax Planning Us 2007 TaxesIrs Amended ReturnsFree Tax FormsForm 1040x 2013

1040ez Tax Forms To Print

1040ez tax forms to print 1. 1040ez tax forms to print   Scholarships, Fellowships, Grants, and Tuition Reductions Table of Contents Reminder Introduction Scholarships and FellowshipsTax-Free Scholarships and Fellowships Taxable Scholarships and Fellowships Reporting Scholarships and Fellowships Other Types of Educational AssistanceFulbright Grants Pell Grants and Other Title IV Need-Based Education Grants Payment to Service Academy Cadets Veterans' Benefits Qualified Tuition Reduction Reminder Individual retirement arrangements (IRAs). 1040ez tax forms to print  You can set up and make contributions to an IRA if you receive taxable compensation. 1040ez tax forms to print Under this rule, a taxable scholarship or fellowship is compensation only if it is shown in box 1 of your Form W-2, Wage and Tax Statement. 1040ez tax forms to print For more information about IRAs, see Publication 590. 1040ez tax forms to print Introduction This chapter discusses the income tax treatment of various types of educational assistance you may receive if you are studying, teaching, or researching in the United States. 1040ez tax forms to print The educational assistance can be for a primary or secondary school, a college or university, or a vocational school. 1040ez tax forms to print Included are discussions of: Scholarships, Fellowships, Need-based education grants, such as a Pell Grant, and Qualified tuition reductions. 1040ez tax forms to print Many types of educational assistance are tax free if they meet the requirements discussed here. 1040ez tax forms to print Special rules apply to U. 1040ez tax forms to print S. 1040ez tax forms to print citizens and resident aliens who have received scholarships or fellowships for studying, teaching, or researching abroad. 1040ez tax forms to print For information about these rules, see Publication 54, Tax Guide for U. 1040ez tax forms to print S. 1040ez tax forms to print Citizens and Resident Aliens Abroad. 1040ez tax forms to print Scholarships and Fellowships A scholarship is generally an amount paid or allowed to, or for the benefit of, a student (whether an undergraduate or a graduate) at an educational institution to aid in the pursuit of his or her studies. 1040ez tax forms to print A fellowship is generally an amount paid for the benefit of an individual to aid in the pursuit of study or research. 1040ez tax forms to print Amount of scholarship or fellowship. 1040ez tax forms to print   The amount of a scholarship or fellowship includes the following: The value of contributed services and accommodations. 1040ez tax forms to print This includes such services and accommodations as room (lodging), board (meals), laundry service, and similar services or accommodations that are received by an individual as a part of a scholarship or fellowship. 1040ez tax forms to print The amount of tuition, matriculation, and other fees that are paid or remitted to the student to aid the student in pursuing study or research. 1040ez tax forms to print Any amount received in the nature of a family allowance as a part of a scholarship or fellowship. 1040ez tax forms to print Tax-Free Scholarships and Fellowships A scholarship or fellowship is tax free (excludable from gross income) only if you are a candidate for a degree at an eligible educational institution. 1040ez tax forms to print A scholarship or fellowship is tax free only to the extent: It does not exceed your expenses; It is not designated or earmarked for other purposes (such as room and board), and does not require (by its terms) that it cannot be used for qualified education expenses; and It does not represent payment for teaching, research, or other services required as a condition for receiving the scholarship. 1040ez tax forms to print (But for exceptions, see Payment for services,later. 1040ez tax forms to print Use Worksheet 1–1 to figure the amount of a scholarship or fellowship you can exclude from gross income. 1040ez tax forms to print Candidate for a degree. 1040ez tax forms to print   You are a candidate for a degree if you: Attend a primary or secondary school or are pursuing a degree at a college or university, or Attend an educational institution that: Provides a program that is acceptable for full credit toward a bachelor's or higher degree, or offers a program of training to prepare students for gainful employment in a recognized occupation; and Is authorized under federal or state law to provide such a program and is accredited by a nationally recognized accreditation agency. 1040ez tax forms to print Eligible educational institution. 1040ez tax forms to print   An eligible educational institution is one whose primary function is the presentation of formal instruction and that normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. 1040ez tax forms to print Qualified education expenses. 1040ez tax forms to print   For purposes of tax-free scholarships and fellowships, these are expenses for: Tuition and fees required to enroll at or attend an eligible educational institution, and Course-related expenses, such as fees, books, supplies, and equipment that are required for the courses at the eligible educational institution. 1040ez tax forms to print These items must be required of all students in your course of instruction. 1040ez tax forms to print Expenses that do not qualify. 1040ez tax forms to print   Qualified education expenses do not include the cost of: Room and board, Travel, Research, Clerical help, or Equipment and other expenses that are not required for enrollment in or attendance at an eligible educational institution. 1040ez tax forms to print Payment for services. 1040ez tax forms to print   Generally, you cannot exclude from your gross income the part of any scholarship or fellowship that represents payment for teaching, research, or other services required as a condition for receiving the scholarship. 1040ez tax forms to print This applies even if all candidates for a degree must perform the services to receive the degree. 1040ez tax forms to print (See exceptions next. 1040ez tax forms to print ) Exceptions. 1040ez tax forms to print   You do not have to treat as payment for services the part of any scholarship or fellowship that represents payment for teaching, research, or other services if you receive the amount under: The National Health Service Corps Scholarship Program, or The Armed Forces Health Professions Scholarship and Financial Assistance Program. 1040ez tax forms to print Example 1. 1040ez tax forms to print You received a scholarship of $2,500. 1040ez tax forms to print The scholarship was not received under either of the exceptions mentioned above. 1040ez tax forms to print As a condition for receiving the scholarship, you must serve as a part-time teaching assistant. 1040ez tax forms to print Of the $2,500 scholarship, $1,000 represents payment for teaching. 1040ez tax forms to print The provider of your scholarship gives you a Form W-2 showing $1,000 as income. 1040ez tax forms to print Your qualified education expenses were at least $1,500. 1040ez tax forms to print Assuming that all other conditions are met, $1,500 of your scholarship is tax free. 1040ez tax forms to print The $1,000 you received for teaching is taxable. 1040ez tax forms to print Example 2. 1040ez tax forms to print You are a candidate for a degree at a medical school. 1040ez tax forms to print You receive a scholarship (not under either of the exceptions mentioned above) for your medical education and training. 1040ez tax forms to print The terms of your scholarship require you to perform future services. 1040ez tax forms to print A substantial penalty applies if you do not comply. 1040ez tax forms to print The entire amount of your grant is taxable as payment for services in the year it is received. 1040ez tax forms to print Athletic Scholarships An athletic scholarship is tax free only if and to the extent it meets the requirements discussed later. 1040ez tax forms to print Worksheet 1-1. 1040ez tax forms to print    You can use Worksheet 1-1, Taxable Scholarship and Fellowship Income , later, to figure the tax-free and taxable parts of your athletic scholarship. 1040ez tax forms to print    Worksheet 1-1. 1040ez tax forms to print Taxable Scholarship and Fellowship Income 1. 1040ez tax forms to print Enter the total amount of any scholarship or fellowship for 2013. 1040ez tax forms to print See Amount of scholarship or fellowship, earlier. 1040ez tax forms to print 1. 1040ez tax forms to print       If you are a degree candidate at an eligible educational institution, go to line 2. 1040ez tax forms to print If you are not a degree candidate at an eligible educational institution, stop here. 1040ez tax forms to print The entire amount is taxable. 1040ez tax forms to print For information on how to report this amount on your tax return, see Reporting Scholarships and Fellowships , earlier, in this chapter. 1040ez tax forms to print       2. 1040ez tax forms to print Enter the amount from line 1 that was for teaching, research, or any other services required as a condition for receiving the scholarship. 1040ez tax forms to print (Do not include amounts received for these items under the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program. 1040ez tax forms to print ) 2. 1040ez tax forms to print     3. 1040ez tax forms to print Subtract line 2 from line 1 3. 1040ez tax forms to print     4. 1040ez tax forms to print Enter the amount from line 3 that your scholarship or fellowship required you to use for other than qualified education expenses 4. 1040ez tax forms to print     5. 1040ez tax forms to print Subtract line 4 from line 3 5. 1040ez tax forms to print     6. 1040ez tax forms to print Enter the amount of your qualified education expenses 6. 1040ez tax forms to print     7. 1040ez tax forms to print Enter the smaller of line 5 or line 6. 1040ez tax forms to print This amount is the most you can exclude from your gross income (the tax-free part of the scholarship or fellowship) 7. 1040ez tax forms to print     8. 1040ez tax forms to print Subtract line 7 from line 5 8. 1040ez tax forms to print     9. 1040ez tax forms to print Taxable part. 1040ez tax forms to print Add lines 2, 4, and 8. 1040ez tax forms to print See Reporting Scholarships and Fellowships , earlier, for how to report this amount on your tax return 9. 1040ez tax forms to print     Taxable Scholarships and Fellowships If and to the extent your scholarship or fellowship does not meet the requirements described earlier, it is taxable and must be included in gross income. 1040ez tax forms to print You can use Worksheet 1–1, Taxable Scholarship and Fellowship Income, later, to figure the tax-free and taxable parts of your scholarship or fellowship. 1040ez tax forms to print Reporting Scholarships and Fellowships Whether you must report your scholarship or fellowship depends on whether you must file a return and whether any part of your scholarship or fellowship is taxable. 1040ez tax forms to print If your only income is a completely tax-free scholarship or fellowship, you do not have to file a tax return and no reporting is necessary. 1040ez tax forms to print If all or part of your scholarship or fellowship is taxable and you are required to file a tax return, report the taxable amount as explained below. 1040ez tax forms to print You must report the taxable amount whether or not you received a Form W-2. 1040ez tax forms to print If you receive an incorrect Form W-2, ask the payer for a corrected one. 1040ez tax forms to print For information on whether you must file a return, see Publication 501, Exemptions, Standard Deduction, and Filing Information, or your income tax form instructions. 1040ez tax forms to print How To Report How you report any taxable scholarship or fellowship income depends on which return you file. 1040ez tax forms to print Form 1040EZ. 1040ez tax forms to print   If you file Form 1040EZ, include the taxable amount in the total on line 1. 1040ez tax forms to print If the taxable amount was not reported on Form W-2, also enter “SCH” and the taxable amount in the space to the left of line 1. 1040ez tax forms to print Form 1040A. 1040ez tax forms to print   If you file Form 1040A, include the taxable amount in the total on line 7. 1040ez tax forms to print If the taxable amount was not reported on Form W-2, also enter “SCH” and the taxable amount in the space to the left of line 7. 1040ez tax forms to print Form 1040. 1040ez tax forms to print   If you file Form 1040, include the taxable amount in the total on line 7. 1040ez tax forms to print If the taxable amount was not reported on Form W-2, also enter “SCH” and the taxable amount on the dotted line next to line 7. 1040ez tax forms to print Schedule SE (Form 1040). 1040ez tax forms to print   To determine your net earnings from self-employment, include amounts you receive under a scholarship as pay for your services that are reported to you on Form 1099-MISC, Miscellaneous Income. 1040ez tax forms to print If your net earnings are $400 or more, you must pay self-employment tax. 1040ez tax forms to print Use Schedule SE, Self-Employment Tax, to figure this tax. 1040ez tax forms to print Form 1040NR. 1040ez tax forms to print   If you file Form 1040NR, report the taxable amount on line 12. 1040ez tax forms to print Generally, you must report the amount shown in box 2 of Form(s) 1042-S, Foreign Person's U. 1040ez tax forms to print S. 1040ez tax forms to print Source Income Subject to Withholding. 1040ez tax forms to print See the Instructions for Form 1040NR for more information. 1040ez tax forms to print Form 1040NR-EZ. 1040ez tax forms to print   If you file Form 1040NR-EZ, report the taxable amount on line 5. 1040ez tax forms to print Generally, you must report the amount shown in box 2 of Form(s) 1042-S. 1040ez tax forms to print See the Instructions for Form 1040NR-EZ for more information. 1040ez tax forms to print Other Types of Educational Assistance The following discussions deal with other common types of educational assistance. 1040ez tax forms to print Fulbright Grants A Fulbright grant is generally treated as a scholarship or fellowship in figuring how much of the grant is tax free. 1040ez tax forms to print Pell Grants and Other Title IV Need-Based Education Grants These need-based grants are treated as scholarships for purposes of determining their tax treatment. 1040ez tax forms to print They are tax free to the extent used for qualified education expenses during the period for which a grant is awarded. 1040ez tax forms to print Payment to Service Academy Cadets An appointment to a United States military academy is not a scholarship or fellowship. 1040ez tax forms to print Payment you receive as a cadet or midshipman at an armed services academy is pay for personal services and will be reported to you in box 1 of Form W-2. 1040ez tax forms to print Include this pay in your income in the year you receive it unless one of the exceptions, discussed earlier under Payment for services , applies. 1040ez tax forms to print Veterans' Benefits Payments you receive for education, training, or subsistence under any law administered by the Department of Veterans Affairs (VA) are tax free. 1040ez tax forms to print Do not include these payments as income on your federal tax return. 1040ez tax forms to print If you qualify for one or more of the education benefits discussed in chapters 2 through 12, you may have to reduce the amount of education expenses qualifying for a specific benefit by part or all of your VA payments. 1040ez tax forms to print This applies only to the part of your VA payments that is required to be used for education expenses. 1040ez tax forms to print You may want to visit the Veteran's Administration website at www. 1040ez tax forms to print gibill. 1040ez tax forms to print va. 1040ez tax forms to print gov for specific information about the various VA benefits for education. 1040ez tax forms to print Example. 1040ez tax forms to print You have returned to college and are receiving two education benefits under the latest GI Bill: (1) a $1,534 monthly basic housing allowance (BHA) that is directly deposited to your checking account, and (2) $3,840 paid directly to your college for tuition. 1040ez tax forms to print Neither of these benefits is taxable and you do not report them on your tax return. 1040ez tax forms to print You also want to claim an American opportunity credit on your return. 1040ez tax forms to print You paid $5,000 in qualified education expenses (see chapter 2, American Opportunity Credit , later). 1040ez tax forms to print To figure the amount of credit, you must first subtract the $3,840 from your qualified education expenses because this payment under the GI Bill was required to be used for education expenses. 1040ez tax forms to print You do not subtract any amount of the BHA because it was paid to you and its use was not restricted. 1040ez tax forms to print Qualified Tuition Reduction If you are allowed to study tuition free or for a reduced rate of tuition, you may not have to pay tax on this benefit. 1040ez tax forms to print This is called a “tuition reduction. 1040ez tax forms to print ” You do not have to include a qualified tuition reduction in your income. 1040ez tax forms to print A tuition reduction is qualified only if you receive it from, and use it at, an eligible educational institution. 1040ez tax forms to print You do not have to use the tuition reduction at the eligible educational institution from which you received it. 1040ez tax forms to print In other words, if you work for an eligible educational institution and the institution arranges for you to take courses at another eligible educational institution without paying any tuition, you may not have to include the value of the free courses in your income. 1040ez tax forms to print The rules for determining if a tuition reduction is qualified, and therefore tax free, are different if the education provided is below the graduate level or is graduate education. 1040ez tax forms to print You must include in your income any tuition reduction you receive that is payment for your services. 1040ez tax forms to print Eligible educational institution. 1040ez tax forms to print   An eligible educational institution is one that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. 1040ez tax forms to print Officers, owners, and highly compensated employees. 1040ez tax forms to print   Qualified tuition reductions apply to officers, owners, or highly compensated employees only if benefits are available to employees on a nondiscriminatory basis. 1040ez tax forms to print This means that the tuition reduction benefits must be available on substantially the same basis to each member of a group of employees. 1040ez tax forms to print The group must be defined under a reasonable classification set up by the employer. 1040ez tax forms to print The classification must not discriminate in favor of owners, officers, or highly compensated employees. 1040ez tax forms to print Payment for services. 1040ez tax forms to print   Generally, you must include in income the part of any qualified tuition reduction that represents payment for teaching, research, or other services by the student required as a condition of receiving the qualified tuition reduction. 1040ez tax forms to print This applies even if all candidates for a degree must perform the services to receive the degree. 1040ez tax forms to print (See below for exceptions. 1040ez tax forms to print ) Exceptions. 1040ez tax forms to print   You do not have to include in income the part of any scholarship or fellowship that represents payment for teaching, research, or other services if you receive the amount under: The National Health Service Corps Scholarship Program, or The Armed Forces Health Professions Scholarship and Financial Assistance Program. 1040ez tax forms to print Education Below the Graduate Level If you receive a tuition reduction for education below the graduate level (including primary, secondary, or high school), it is a qualified tuition reduction, and therefore tax free, only if your relationship to the educational institution providing the benefit is described below. 1040ez tax forms to print You are an employee of the eligible educational institution. 1040ez tax forms to print You were an employee of the eligible educational institution, but you retired or left on disability. 1040ez tax forms to print You are a widow or widower of an individual who died while an employee of the eligible educational institution or who retired or left on disability. 1040ez tax forms to print You are the dependent child or spouse of an individual described in (1) through (3), above. 1040ez tax forms to print Child of deceased parents. 1040ez tax forms to print   For purposes of the qualified tuition reduction, a child is a dependent child if the child is under age 25 and both parents have died. 1040ez tax forms to print Child of divorced parents. 1040ez tax forms to print   For purposes of the qualified tuition reduction, a dependent child of divorced parents is treated as the dependent of both parents. 1040ez tax forms to print Graduate Education A tuition reduction you receive for graduate education is qualified, and therefore tax free, if both of the following requirements are met. 1040ez tax forms to print It is provided by an eligible educational institution. 1040ez tax forms to print You are a graduate student who performs teaching or research activities for the educational institution. 1040ez tax forms to print You must include in income any other tuition reductions for graduate education that you receive. 1040ez tax forms to print How To Report Any tuition reduction that is taxable should be included as wages in box 1 of your Form W-2. 1040ez tax forms to print Report the amount from Form W-2, box 1, on line 7 (Form 1040 or Form 1040A) or line 1 (Form 1040EZ). 1040ez tax forms to print Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

CP 90 - Final Notice of Intent to Levy and Notice of Your Right to a Hearing

Details About This Notice:
Sample Content: Page 1, Page 2
Purpose:   We send CP 90 to inform the recipient of our intent to levy on certain assets.
Reason for Issuance:   The recipient has a balance due on their account that we've previously sent a notice about. That balance due is still unpaid. We send a CP 90 to inform the recipient that the amount is still due, that we intend to levy on certain assets, and what steps they need to take within 30 days to prevent us from taking this action.
Account Balance:   Balance Due
Possible Enclosures:  

Frequently Asked Questions About This Notice

Page Last Reviewed or Updated: 22-Apr-2013

The 1040ez Tax Forms To Print

1040ez tax forms to print 1. 1040ez tax forms to print   Definitions You Need To Know Table of Contents Other options. 1040ez tax forms to print Exception. 1040ez tax forms to print Certain terms used in this publication are defined below. 1040ez tax forms to print The same term used in another publication may have a slightly different meaning. 1040ez tax forms to print Annual additions. 1040ez tax forms to print   Annual additions are the total of all your contributions in a year, employee contributions (not including rollovers), and forfeitures allocated to a participant's account. 1040ez tax forms to print Annual benefits. 1040ez tax forms to print   Annual benefits are the benefits to be paid yearly in the form of a straight life annuity (with no extra benefits) under a plan to which employees do not contribute and under which no rollover contributions are made. 1040ez tax forms to print Business. 1040ez tax forms to print   A business is an activity in which a profit motive is present and economic activity is involved. 1040ez tax forms to print Service as a newspaper carrier under age 18 or as a public official is not a business. 1040ez tax forms to print Common-law employee. 1040ez tax forms to print   A common-law employee is any individual who, under common law, would have the status of an employee. 1040ez tax forms to print A leased employee can also be a common-law employee. 1040ez tax forms to print   A common-law employee is a person who performs services for an employer who has the right to control and direct the results of the work and the way in which it is done. 1040ez tax forms to print For example, the employer: Provides the employee's tools, materials, and workplace, and Can fire the employee. 1040ez tax forms to print   Common-law employees are not self-employed and cannot set up retirement plans for income from their work, even if that income is self-employment income for social security tax purposes. 1040ez tax forms to print For example, common-law employees who are ministers, members of religious orders, full-time insurance salespeople, and U. 1040ez tax forms to print S. 1040ez tax forms to print citizens employed in the United States by foreign governments cannot set up retirement plans for their earnings from those employments, even though their earnings are treated as self-employment income. 1040ez tax forms to print   However, an individual may be a common-law employee and a self-employed person as well. 1040ez tax forms to print For example, an attorney can be a corporate common-law employee during regular working hours and also practice law in the evening as a self-employed person. 1040ez tax forms to print In another example, a minister employed by a congregation for a salary is a common-law employee even though the salary is treated as self-employment income for social security tax purposes. 1040ez tax forms to print However, fees reported on Schedule C (Form 1040), Profit or Loss From Business, for performing marriages, baptisms, and other personal services are self-employment earnings for qualified plan purposes. 1040ez tax forms to print Compensation. 1040ez tax forms to print   Compensation for plan allocations is the pay a participant received from you for personal services for a year. 1040ez tax forms to print You can generally define compensation as including all the following payments. 1040ez tax forms to print Wages and salaries. 1040ez tax forms to print Fees for professional services. 1040ez tax forms to print Other amounts received (cash or noncash) for personal services actually rendered by an employee, including, but not limited to, the following items. 1040ez tax forms to print Commissions and tips. 1040ez tax forms to print Fringe benefits. 1040ez tax forms to print Bonuses. 1040ez tax forms to print   For a self-employed individual, compensation means the earned income, discussed later, of that individual. 1040ez tax forms to print   Compensation generally includes amounts deferred in the following employee benefit plans. 1040ez tax forms to print These amounts are elective deferrals. 1040ez tax forms to print Qualified cash or deferred arrangement (section 401(k) plan). 1040ez tax forms to print Salary reduction agreement to contribute to a tax-sheltered annuity (section 403(b) plan), a SIMPLE IRA plan, or a SARSEP. 1040ez tax forms to print Section 457 nonqualified deferred compensation plan. 1040ez tax forms to print Section 125 cafeteria plan. 1040ez tax forms to print   However, an employer can choose to exclude elective deferrals under the above plans from the definition of compensation. 1040ez tax forms to print The limit on elective deferrals is discussed in chapter 2 under Salary Reduction Simplified Employee Pension (SARSEP) and in chapter 4. 1040ez tax forms to print Other options. 1040ez tax forms to print   In figuring the compensation of a participant, you can treat any of the following amounts as the employee's compensation. 1040ez tax forms to print The employee's wages as defined for income tax withholding purposes. 1040ez tax forms to print The employee's wages you report in box 1 of Form W-2, Wage and Tax Statement. 1040ez tax forms to print The employee's social security wages (including elective deferrals). 1040ez tax forms to print   Compensation generally cannot include either of the following items. 1040ez tax forms to print Nontaxable reimbursements or other expense allowances. 1040ez tax forms to print Deferred compensation (other than elective deferrals). 1040ez tax forms to print SIMPLE plans. 1040ez tax forms to print   A special definition of compensation applies for SIMPLE plans. 1040ez tax forms to print See chapter 3. 1040ez tax forms to print Contribution. 1040ez tax forms to print   A contribution is an amount you pay into a plan for all those participating in the plan, including self-employed individuals. 1040ez tax forms to print Limits apply to how much, under the contribution formula of the plan, can be contributed each year for a participant. 1040ez tax forms to print Deduction. 1040ez tax forms to print   A deduction is the plan contributions you can subtract from gross income on your federal income tax return. 1040ez tax forms to print Limits apply to the amount deductible. 1040ez tax forms to print Earned income. 1040ez tax forms to print   Earned income is net earnings from self-employment, discussed later, from a business in which your services materially helped to produce the income. 1040ez tax forms to print   You can also have earned income from property your personal efforts helped create, such as royalties from your books or inventions. 1040ez tax forms to print Earned income includes net earnings from selling or otherwise disposing of the property, but it does not include capital gains. 1040ez tax forms to print It includes income from licensing the use of property other than goodwill. 1040ez tax forms to print   Earned income includes amounts received for services by self-employed members of recognized religious sects opposed to social security benefits who are exempt from self-employment tax. 1040ez tax forms to print   If you have more than one business, but only one has a retirement plan, only the earned income from that business is considered for that plan. 1040ez tax forms to print Employer. 1040ez tax forms to print   An employer is generally any person for whom an individual performs or did perform any service, of whatever nature, as an employee. 1040ez tax forms to print A sole proprietor is treated as his or her own employer for retirement plan purposes. 1040ez tax forms to print However, a partner is not an employer for retirement plan purposes. 1040ez tax forms to print Instead, the partnership is treated as the employer of each partner. 1040ez tax forms to print Highly compensated employee. 1040ez tax forms to print   A highly compensated employee is an individual who: Owned more than 5% of the interest in your business at any time during the year or the preceding year, regardless of how much compensation that person earned or received, or For the preceding year, received compensation from you of more than $115,000 (if the preceding year is 2012, 2013, or 2014) and, if you so choose, was in the top 20% of employees when ranked by compensation. 1040ez tax forms to print Leased employee. 1040ez tax forms to print   A leased employee who is not your common-law employee must generally be treated as your employee for retirement plan purposes if he or she does all the following. 1040ez tax forms to print Provides services to you under an agreement between you and a leasing organization. 1040ez tax forms to print Has performed services for you (or for you and related persons) substantially full time for at least 1 year. 1040ez tax forms to print Performs services under your primary direction or control. 1040ez tax forms to print Exception. 1040ez tax forms to print   A leased employee is not treated as your employee if all the following conditions are met. 1040ez tax forms to print Leased employees are not more than 20% of your non-highly compensated work force. 1040ez tax forms to print The employee is covered under the leasing organization's qualified pension plan. 1040ez tax forms to print The leasing organization's plan is a money purchase pension plan that has all the following provisions. 1040ez tax forms to print Immediate participation. 1040ez tax forms to print (This requirement does not apply to any individual whose compensation from the leasing organization in each plan year during the 4-year period ending with the plan year is less than $1,000. 1040ez tax forms to print ) Full and immediate vesting. 1040ez tax forms to print A nonintegrated employer contribution rate of at least 10% of compensation for each participant. 1040ez tax forms to print However, if the leased employee is your common-law employee, that employee will be your employee for all purposes, regardless of any pension plan of the leasing organization. 1040ez tax forms to print Net earnings from self-employment. 1040ez tax forms to print   For SEP and qualified plans, net earnings from self-employment is your gross income from your trade or business (provided your personal services are a material income-producing factor) minus allowable business deductions. 1040ez tax forms to print Allowable deductions include contributions to SEP and qualified plans for common-law employees and the deduction allowed for the deductible part of your self-employment tax. 1040ez tax forms to print   Net earnings from self-employment does not include items excluded from gross income (or their related deductions) other than foreign earned income and foreign housing cost amounts. 1040ez tax forms to print   For the deduction limits, earned income is net earnings for personal services actually rendered to the business. 1040ez tax forms to print You take into account the income tax deduction for the deductible part of self-employment tax and the deduction for contributions to the plan made on your behalf when figuring net earnings. 1040ez tax forms to print   Net earnings include a partner's distributive share of partnership income or loss (other than separately stated items, such as capital gains and losses). 1040ez tax forms to print It does not include income passed through to shareholders of S corporations. 1040ez tax forms to print Guaranteed payments to limited partners are net earnings from self-employment if they are paid for services to or for the partnership. 1040ez tax forms to print Distributions of other income or loss to limited partners are not net earnings from self-employment. 1040ez tax forms to print   For SIMPLE plans, net earnings from self-employment is the amount on line 4 of Short Schedule SE or line 6 of Long Schedule SE (Form 1040), Self-Employment Tax, before subtracting any contributions made to the SIMPLE plan for yourself. 1040ez tax forms to print Qualified plan. 1040ez tax forms to print   A qualified plan is a retirement plan that offers a tax-favored way to save for retirement. 1040ez tax forms to print You can deduct contributions made to the plan for your employees. 1040ez tax forms to print Earnings on these contributions are generally tax free until distributed at retirement. 1040ez tax forms to print Profit-sharing, money purchase, and defined benefit plans are qualified plans. 1040ez tax forms to print A 401(k) plan is also a qualified plan. 1040ez tax forms to print Participant. 1040ez tax forms to print   A participant is an eligible employee who is covered by your retirement plan. 1040ez tax forms to print See the discussions of the different types of plans for the definition of an employee eligible to participate in each type of plan. 1040ez tax forms to print Partner. 1040ez tax forms to print   A partner is an individual who shares ownership of an unincorporated trade or business with one or more persons. 1040ez tax forms to print For retirement plans, a partner is treated as an employee of the partnership. 1040ez tax forms to print Self-employed individual. 1040ez tax forms to print   An individual in business for himself or herself, and whose business is not incorporated, is self-employed. 1040ez tax forms to print Sole proprietors and partners are self-employed. 1040ez tax forms to print Self-employment can include part-time work. 1040ez tax forms to print   Not everyone who has net earnings from self-employment for social security tax purposes is self-employed for qualified plan purposes. 1040ez tax forms to print See Common-law employee and Net earnings from self-employment , earlier. 1040ez tax forms to print   In addition, certain fishermen may be considered self-employed for setting up a qualified plan. 1040ez tax forms to print See Publication 595, Capital Construction Fund for Commercial Fishermen, for the special rules used to determine whether fishermen are self-employed. 1040ez tax forms to print Sole proprietor. 1040ez tax forms to print   A sole proprietor is an individual who owns an unincorporated business by himself or herself, including a single member limited liability company that is treated as a disregarded entity for tax purposes. 1040ez tax forms to print For retirement plans, a sole proprietor is treated as both an employer and an employee. 1040ez tax forms to print Prev  Up  Next   Home   More Online Publications