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2011 Tax Returns

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2011 Tax Returns

2011 tax returns 6. 2011 tax returns   How To Get Tax Help Table of Contents Low Income Taxpayer Clinics (LITCs). 2011 tax returns Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. 2011 tax returns Free help with your tax return. 2011 tax returns   You can get free help preparing your return nationwide from IRS-certified volunteers. 2011 tax returns The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 2011 tax returns The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2011 tax returns Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2011 tax returns In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 2011 tax returns To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 2011 tax returns gov, download the IRS2Go app, or call 1-800-906-9887. 2011 tax returns   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2011 tax returns To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2011 tax returns aarp. 2011 tax returns org/money/taxaide or call 1-888-227-7669. 2011 tax returns For more information on these programs, go to IRS. 2011 tax returns gov and enter “VITA” in the search box. 2011 tax returns Internet. 2011 tax returns    IRS. 2011 tax returns gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 2011 tax returns Download the free IRS2Go app from the iTunes app store or from Google Play. 2011 tax returns Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2011 tax returns Check the status of your 2013 refund with the Where's My Refund? application on IRS. 2011 tax returns gov or download the IRS2Go app and select the Refund Status option. 2011 tax returns The IRS issues more than 9 out of 10 refunds in less than 21 days. 2011 tax returns Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 2011 tax returns You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2011 tax returns The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2011 tax returns Use the Interactive Tax Assistant (ITA) to research your tax questions. 2011 tax returns No need to wait on the phone or stand in line. 2011 tax returns The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. 2011 tax returns When you reach the response screen, you can print the entire interview and the final response for your records. 2011 tax returns New subject areas are added on a regular basis. 2011 tax returns  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 2011 tax returns gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 2011 tax returns You can use the IRS Tax Map, to search publications and instructions by topic or keyword. 2011 tax returns The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 2011 tax returns When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 2011 tax returns Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 2011 tax returns You can also ask the IRS to mail a return or an account transcript to you. 2011 tax returns Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 2011 tax returns gov or by calling 1-800-908-9946. 2011 tax returns Tax return and tax account transcripts are generally available for the current year and the past three years. 2011 tax returns Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 2011 tax returns Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 2011 tax returns If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 2011 tax returns Check the status of your amended return using Where's My Amended Return? Go to IRS. 2011 tax returns gov and enter Where's My Amended Return? in the search box. 2011 tax returns You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2011 tax returns It can take up to 3 weeks from the date you mailed it to show up in our system. 2011 tax returns Make a payment using one of several safe and convenient electronic payment options available on IRS. 2011 tax returns gov. 2011 tax returns Select the Payment tab on the front page of IRS. 2011 tax returns gov for more information. 2011 tax returns Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 2011 tax returns Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2011 tax returns gov. 2011 tax returns Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2011 tax returns Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2011 tax returns gov. 2011 tax returns Request an Electronic Filing PIN by going to IRS. 2011 tax returns gov and entering Electronic Filing PIN in the search box. 2011 tax returns Download forms, instructions and publications, including accessible versions for people with disabilities. 2011 tax returns Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 2011 tax returns gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 2011 tax returns An employee can answer questions about your tax account or help you set up a payment plan. 2011 tax returns Before you visit, check the Office Locator on IRS. 2011 tax returns gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 2011 tax returns If you have a special need, such as a disability, you can request an appointment. 2011 tax returns Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2011 tax returns Apply for an Employer Identification Number (EIN). 2011 tax returns Go to IRS. 2011 tax returns gov and enter Apply for an EIN in the search box. 2011 tax returns Read the Internal Revenue Code, regulations, or other official guidance. 2011 tax returns Read Internal Revenue Bulletins. 2011 tax returns Sign up to receive local and national tax news and more by email. 2011 tax returns Just click on “subscriptions” above the search box on IRS. 2011 tax returns gov and choose from a variety of options. 2011 tax returns    Phone. 2011 tax returns You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2011 tax returns Download the free IRS2Go app from the iTunes app store or from Google Play. 2011 tax returns Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 2011 tax returns gov, or download the IRS2Go app. 2011 tax returns Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2011 tax returns The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2011 tax returns Most VITA and TCE sites offer free electronic filing. 2011 tax returns Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2011 tax returns Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2011 tax returns Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. 2011 tax returns If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2011 tax returns The IRS issues more than 9 out of 10 refunds in less than 21 days. 2011 tax returns Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2011 tax returns Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. 2011 tax returns The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2011 tax returns Note, the above information is for our automated hotline. 2011 tax returns Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. 2011 tax returns Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2011 tax returns You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2011 tax returns It can take up to 3 weeks from the date you mailed it to show up in our system. 2011 tax returns Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). 2011 tax returns You should receive your order within 10 business days. 2011 tax returns Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 2011 tax returns If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. 2011 tax returns Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2011 tax returns The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2011 tax returns These individuals can also contact the IRS through relay services such as the Federal Relay Service. 2011 tax returns    Walk-in. 2011 tax returns You can find a selection of forms, publications and services — in-person. 2011 tax returns Products. 2011 tax returns You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2011 tax returns Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2011 tax returns Services. 2011 tax returns You can walk in to your local TAC for face-to-face tax help. 2011 tax returns An employee can answer questions about your tax account or help you set up a payment plan. 2011 tax returns Before visiting, use the Office Locator tool on IRS. 2011 tax returns gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 2011 tax returns    Mail. 2011 tax returns You can send your order for forms, instructions, and publications to the address below. 2011 tax returns You should receive a response within 10 business days after your request is received. 2011 tax returns Internal Revenue Service 1201 N. 2011 tax returns Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. 2011 tax returns The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2011 tax returns Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2011 tax returns   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 2011 tax returns We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 2011 tax returns You face (or your business is facing) an immediate threat of adverse action. 2011 tax returns You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2011 tax returns   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 2011 tax returns Here's why we can help: TAS is an independent organization within the IRS. 2011 tax returns Our advocates know how to work with the IRS. 2011 tax returns Our services are free and tailored to meet your needs. 2011 tax returns We have offices in every state, the District of Columbia, and Puerto Rico. 2011 tax returns   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. 2011 tax returns   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2011 tax returns If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 2011 tax returns Low Income Taxpayer Clinics (LITCs). 2011 tax returns   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. 2011 tax returns Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. 2011 tax returns Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. 2011 tax returns Prev  Up  Next   Home   More Online Publications
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Tax Information For Corporations

Abusive Tax Shelters and Transactions
The Internal Revenue Service has a comprehensive strategy in place to combat abusive tax shelters and transactions. This strategy includes guidance on abusive transactions, regulations governing tax shelters, a hotline for taxpayers to use to report abusive technical transactions, and enforcement activity against abusive tax shelter promoters and investors.

Additional Guidance on IRC Section 168(k)(4) Election to Accelerate Research Credits
A taxpayer with a taxable year end of June 30, is allowed the option provided by section 3.02(1)(a)(i)(I) and (II) of Rev. Proc. 2009-16 if such taxpayer files its original federal income tax return for such taxable year on or before March 11, 2009, consistent with the option available to a taxpayer who files its original federal income tax return after March 11, 2009.

Alternative Motor Vehicle Credit
The Alternative Fuel Motor Vehicle Credit was enacted by the Energy Policy Act of 2005 and includes separate credits for four distinct categories of vehicles: Hybrid vehicles, Fuel Cell vehicles, Qualified Alternative Fuel Motor vehicles (QAFMV) and Advanced Lean Burn Technology vehicles. The amount of the potential credit varies by type of vehicle and which of the four credits applies.

Corporate Executive Compliance
The Internal Revenue Service is taking steps to improve tax compliance by corporations and their executive employees. One area of emphasis is executive compensation, for which audit technique guides have been developed for use by agents in examining tax returns filed by corporations and executives.

e-file for Large Business and International (LB&I)
Certain large business and International (LB&I) corporations are required to electronically file their Forms 1120 and 1120S. Other corporations may do so voluntarily. This site provides e-file information for corporations that prepare and transmit their own electronic corporate income tax returns and those that use the services of third party tax professionals.

FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes"
FIN 48 is intended to eliminate inconsistency in accounting for uncertain tax positions in financial statements certified in accordance with U.S. GAAP and mandates new rules for recognition, de-recognition, measurement, and disclosure of tax positions.

Fast Track Settlement
The LB&I / Appeals Fast Track Settlement program is a joint effort between the Large Business and International (LB&I) Division and Appeals to use the mediation skills and delegated settlement authority of Appeals to resolve issues while still under LB&I jurisdiction.

Filing Requirements for Filing Status Change (revised 11-15-11)
Guidance for taxpayers requesting to change their filing status from a C Corporation (filing Form 1120) to an S Corporation (filing Form 1120S).

Foreign Account Tax Compliance Act
FATCA will increase information reporting by foreign financial institutions, non-financial foreign entities, and certain U.S. persons holding financial assets outside the United States.

Forms 5471 - Automatic Assessment of Penalties under IRC Section 6038(b)(1)
Beginning January 1, 2009, the Internal Revenue Service Center will automatically assert appropriate penalties on late filed Forms 1120 with Forms 5471 attached. Taxpayers are encouraged to submit delinquent Forms 5471 prior to January 1, 2009.

Form 8806 - Information Return for Acquisition of Control or Substantial Change in Capital Structure
Pursuant to the provisions of Temporary Regulation § 1.6043-4T(a), requiring reporting of certain acquisitions of control and substantial changes in capital structure, corporations can consent to the publication by the IRS of the information from their Form 8806.

Income from Abroad is Taxable
There have been recent reports about the interest of the Internal Revenue Service (IRS) in taxpayers with bank accounts in Liechtenstein. The IRS' interest, however, extends beyond bank accounts in Liechtenstein to financial accounts anywhere in the world. The IRS reminds you to report your worldwide income on your U.S. tax return and lists the possible consequences of hiding income overseas.

Index of Large Business and International (LB&I) Division Industry Overviews
The LB&I Industry Overview Series, designed to provide LB&I employees greater awareness of various industries, contain information on industry background, trends, and terms, accounting principles, information systems, industry operating procedures, government regulatory requirements, significant law and important issues and industry resources.

Industry Issue Resolution Program
The Industry Issue Resolution (IIR) Program resolves frequently disputed or burdensome tax issues. IRS solicits suggestions for issues for the program from taxpayers, representatives and associations.

International Businesses
Provides links to information on a variety of International topics including Tax Treaties, Know-Your-Customer (KYC) Rules, Transfer Pricing and Qualified Intermediaries (QI).

The International Tax Gap
Find resources on this page pertaining to the international tax gap — the difference between the amount of tax that taxpayers should pay and the amount that is paid voluntarily and on time. The tax gap can also be thought of as the sum of non-compliance with the tax law.

Limited Issue Focused Examination (LIFE)
The IRS Large Business and International (LB&I) Division is implementing a new streamlined examination process.

LB&I Technical Resources and Guidance
Coordinated issue papers, Industry Director guidance, audit technique guides and other documents provide technical information and guidance on complex tax law and administrative issues affecting the LB&I division and LB&I taxpayers.

New Identification Number Implemented for Certain Foreign Information Returns
New Identification Number Implemented for Certain Foreign Information Returns

Pre-Filing Agreement Program
The Pre-Filing Agreement Program is expected to reduce taxpayer burden and make more effective use of IRS resources by resolving or eliminating tax controversy earlier in the examination process.

Quality Examination Process
The Quality Examination Process (QEP) is a systematic approach for engaging and involving Large Business and International (LB&I) taxpayers in the tax examination process, from the earliest planning stages through resolution of all issues and completion of the case.

Report of Foreign Bank and Financial Accounts (FBAR)
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service.

S Corporations
An eligible domestic corporation can avoid double taxation (once to the shareholders and again to the corporation) by electing to be treated as an S corporation.

Schedule M-3 for Large Business & International (LB&I)
Schedule M-3 is used by certain corporations and partnerships to reconcile financial accounting net income and taxable income. Affected corporations and partnerships are those with assets of $10 million or more that file Form 1120, 1120-PC, 1120-L, 1120S, or 1065. Certain other partnerships filing Form 1065 are also required to use the Schedule M-3.

2008 Changes to Form 1065 - Frequently Asked Questions
Form 1065 has a number of changes for 2008. For example, Schedule B and Schedule K-1 require reporting of ownership percentages. The FAQ page on Form 1065 changes offers helpful examples.

U.S./Germany Tax Treaty Modified to Include Mandatory Arbitration in Certain Circumstances
A new Protocol modifying certain provisions of the income tax treaty between the U.S. and Germany came into force on Dec. 28, 2007. It modifies Article 25 Mutual Agreement Procedure (MAP) to provide for mandatory arbitration of certain cases in the MAP. This announcement provides interim guidance for the “commencement date” for MAP case arbitration until a formal mutual agreement is published.

Uncertain Tax Positions - Schedule UTP
IRS finalized Schedule UTP & instructions for reporting uncertain tax positions by certain corporations.

Page Last Reviewed or Updated: 30-Mar-2014

The 2011 Tax Returns

2011 tax returns Internal Revenue Bulletin:  2009-17  April 27, 2009  Rev. 2011 tax returns Proc. 2011 tax returns 2009-24 Table of Contents SECTION 1. 2011 tax returns PURPOSE SECTION 2. 2011 tax returns BACKGROUND SECTION 3. 2011 tax returns SCOPE SECTION 4. 2011 tax returns APPLICATION. 2011 tax returns 01 In General. 2011 tax returns . 2011 tax returns 02 Limitations on Depreciation Deductions for Certain Automobiles. 2011 tax returns . 2011 tax returns 03 Inclusions in Income of Lessees of Passenger Automobiles. 2011 tax returns SECTION 5. 2011 tax returns EFFECTIVE DATE SECTION 6. 2011 tax returns DRAFTING INFORMATION SECTION 1. 2011 tax returns PURPOSE . 2011 tax returns 01 This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2009, including a separate table of limitations on depreciation deductions for trucks and vans; and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2009, including a separate table of inclusion amounts for lessees of trucks and vans. 2011 tax returns . 2011 tax returns 02 The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. 2011 tax returns SECTION 2. 2011 tax returns BACKGROUND . 2011 tax returns 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year that the passenger automobile is placed in service by the taxpayer and each succeeding year. 2011 tax returns Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. 2011 tax returns The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 2011 tax returns This change reflects the higher rate of price inflation that trucks and vans have been subject to since 1988. 2011 tax returns . 2011 tax returns 02 Section 168(k)(1)(A) provides a 50 percent additional first year depreciation deduction for certain new property acquired by a taxpayer after December 31, 2007, and before January 1, 2010, if no written binding contract for the acquisition of the property existed before January 1, 2008. 2011 tax returns Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A) by $8,000 for passenger automobiles to which the 50 percent additional first year depreciation deduction applies. 2011 tax returns . 2011 tax returns 03 Section 168(k)(2)(D)(i) provides that the 50 percent additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). 2011 tax returns Section 168(k)(2)(D)(iii) permits a taxpayer to elect to not claim the 50 percent additional first year depreciation deduction for any class of property. 2011 tax returns Section 168(k)(4) permits a corporation to elect to not claim the 50 percent additional first year depreciation deduction for all eligible qualified property (that is extension property or that is not extension property, as applicable) and instead to increase the business credit limitation under § 38(c) or the alternative minimum tax credit limitation under § 53(c). 2011 tax returns Accordingly, this revenue procedure provides tables for passenger automobiles for which the 50 percent additional depreciation deduction applies and tables for passenger automobiles for which the 50 percent additional first year depreciation deduction does not apply, including passenger automobiles in a class of property for which the taxpayer “elects out” of the 50 percent additional first year depreciation deduction or passenger automobiles that are eligible qualified property to which the § 168(k)(4) election applies. 2011 tax returns . 2011 tax returns 04 For leased passenger automobiles, § 280F(c) requires a reduction in the deduction allowed to the lessee of the passenger automobile. 2011 tax returns The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 2011 tax returns Under § 1. 2011 tax returns 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. 2011 tax returns One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 2011 tax returns Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 2011 tax returns SECTION 3. 2011 tax returns SCOPE . 2011 tax returns 01 The limitations on depreciation deductions in section 4. 2011 tax returns 02(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2009, and continue to apply for each taxable year that the passenger automobile remains in service. 2011 tax returns . 2011 tax returns 02 The tables in section 4. 2011 tax returns 03 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2009. 2011 tax returns Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 2011 tax returns See Rev. 2011 tax returns Proc. 2011 tax returns 2002-14, 2002-1 C. 2011 tax returns B. 2011 tax returns 450, for passenger automobiles first leased before January 1, 2003, Rev. 2011 tax returns Proc. 2011 tax returns 2003-75, 2003-2 C. 2011 tax returns B. 2011 tax returns 1018, for passenger automobiles first leased during calendar year 2003, Rev. 2011 tax returns Proc. 2011 tax returns 2004-20, 2004-1 C. 2011 tax returns B. 2011 tax returns 642, for passenger automobiles first leased during calendar year 2004, Rev. 2011 tax returns Proc. 2011 tax returns 2005-13, 2005-1 C. 2011 tax returns B. 2011 tax returns 759, for passenger automobiles first leased during calendar year 2005, Rev. 2011 tax returns Proc. 2011 tax returns 2006-18, 2006-1 C. 2011 tax returns B. 2011 tax returns 645, for passenger automobiles first leased during calendar year 2006, Rev. 2011 tax returns Proc. 2011 tax returns 2007-30, 2007-1 C. 2011 tax returns B. 2011 tax returns 1104, for passenger automobiles first leased during calendar year 2007, and Rev. 2011 tax returns Proc. 2011 tax returns 2008-22, 2008-12 I. 2011 tax returns R. 2011 tax returns B. 2011 tax returns 658, for passenger automobiles first leased during calendar year 2008. 2011 tax returns SECTION 4. 2011 tax returns APPLICATION . 2011 tax returns 01 In General. 2011 tax returns (1) Limitations on depreciation deductions for certain automobiles. 2011 tax returns The limitations on depreciation deductions for passenger automobiles placed in service by the taxpayer for the first time during calendar year 2009 are in Tables 1 through 4 in section 4. 2011 tax returns 02(2) of this revenue procedure. 2011 tax returns (2) Inclusions in income of lessees of passenger automobiles. 2011 tax returns A taxpayer first leasing a passenger automobile during calendar year 2009 must determine the inclusion amount that is added to gross income using Tables 5 and 6 in section 4. 2011 tax returns 03 of this revenue procedure. 2011 tax returns In addition, the taxpayer must follow the procedures of § 1. 2011 tax returns 280F-7(a). 2011 tax returns . 2011 tax returns 02 Limitations on Depreciation Deductions for Certain Automobiles. 2011 tax returns (1) Amount of the inflation adjustment. 2011 tax returns (a) Passenger automobiles (other than trucks or vans). 2011 tax returns Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 2011 tax returns The term “CPI automobile component” is defined in § 280F(d)(7)(B)(ii) as the “automobile component” of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 2011 tax returns The new car component of the CPI was 115. 2011 tax returns 2 for October 1987 and 134. 2011 tax returns 837 for October 2008. 2011 tax returns The October 2008 index exceeded the October 1987 index by 19. 2011 tax returns 637. 2011 tax returns The Internal Revenue Service has, therefore, determined that the automobile price inflation adjustment for 2009 for passenger automobiles (other than trucks and vans) is 17. 2011 tax returns 05 percent (19. 2011 tax returns 637/115. 2011 tax returns 2 x 100%). 2011 tax returns This adjustment is applicable to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2009. 2011 tax returns The dollar limitations in § 280F(a) therefore must be multiplied by a factor of 0. 2011 tax returns 1705, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2009. 2011 tax returns (b) Trucks and vans. 2011 tax returns To determine the dollar limitations applicable to trucks and vans first placed in service during calendar year 2009, the new truck component of the CPI is used instead of the new car component. 2011 tax returns The new truck component of the CPI was 112. 2011 tax returns 4 for October 1987 and 133. 2011 tax returns 640 for October 2008. 2011 tax returns The October 2008 index exceeded the October 1987 index by 21. 2011 tax returns 24. 2011 tax returns The Service has, therefore, determined that the automobile price inflation adjustment for 2009 for trucks and vans is 18. 2011 tax returns 90 percent (21. 2011 tax returns 24/112. 2011 tax returns 4 x 100%). 2011 tax returns This adjustment is applicable to all trucks and vans that are first placed in service in calendar year 2009. 2011 tax returns The dollar limitations in § 280F(a) therefore must be multiplied by a factor of 0. 2011 tax returns 1890, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to trucks and vans. 2011 tax returns (2) Amount of the limitation. 2011 tax returns For passenger automobiles placed in service by the taxpayer in calendar year 2009, Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year. 2011 tax returns Use Table 1 for a passenger automobile (other than a truck or van) placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction does not apply, including a passenger automobile (other than a truck or van) in a class of property for which the taxpayer elects out of the 50 percent additional first year depreciation deduction or a passenger automobile that is eligible qualified property to which the § 168(k)(4) election applies. 2011 tax returns Use Table 2 for a passenger automobile (other than a truck or van) placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction applies. 2011 tax returns Use Table 3 for a truck or van placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction does not apply, including a truck or van in a class of property for which the taxpayer elects out of the 50 percent additional first year depreciation deduction or a truck or van that is eligible qualified property to which the § 168(k)(4) election applies. 2011 tax returns Use Table 4 for a truck or van placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction applies. 2011 tax returns REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $2,960 2nd Tax Year $4,800 3rd Tax Year $2,850 Each Succeeding Year $1,775 REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 2 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $10,960 2nd Tax Year $4,800 3rd Tax Year $2,850 Each Succeeding Year $1,775 REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 3 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 . 2011 tax returns 03 Inclusions in Income of Lessees of Passenger Automobiles. 2011 tax returns The inclusion amounts for passenger automobiles first leased in calendar year 2009 are calculated under the procedures described in § 1. 2011 tax returns 280F-7(a). 2011 tax returns Lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure in applying these procedures, while lessees of trucks and vans should use Table 6 of this revenue procedure. 2011 tax returns REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2009 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $18,500 $19,000 9 19 28 34 38 19,000 19,500 10 21 32 38 43 19,500 20,000 11 24 36 42 48 20,000 20,500 12 27 39 46 54 20,500 21,000 13 29 43 51 58 21,000 21,500 15 31 47 55 64 21,500 22,000 16 34 50 60 68 22,000 23,000 17 38 56 66 76 23,000 24,000 20 42 64 75 86 24,000 25,000 22 47 71 84 96 25,000 26,000 24 52 78 93 107 26,000 27,000 26 58 85 101 117 27,000 28,000 29 62 93 110 127 28,000 29,000 31 67 100 119 138 29,000 30,000 33 72 108 128 147 30,000 31,000 35 77 115 137 157 31,000 32,000 38 82 122 146 167 32,000 33,000 40 87 129 155 178 33,000 34,000 42 92 137 163 188 34,000 35,000 44 97 144 172 199 35,000 36,000 47 102 151 181 208 36,000 37,000 49 107 159 189 219 37,000 38,000 51 112 166 199 228 38,000 39,000 53 117 173 208 239 39,000 40,000 56 122 180 216 250 40,000 41,000 58 127 188 225 259 41,000 42,000 60 132 195 234 269 42,000 43,000 62 137 203 242 280 43,000 44,000 65 141 210 252 290 44,000 45,000 67 146 218 260 300 45,000 46,000 69 151 225 269 311 46,000 47,000 71 157 232 278 320 47,000 48,000 74 161 240 286 331 48,000 49,000 76 166 247 296 340 49,000 50,000 78 171 255 304 351 50,000 51,000 80 176 262 313 361 51,000 52,000 83 181 269 322 371 52,000 53,000 85 186 276 331 381 53,000 54,000 87 191 284 339 392 54,000 55,000 89 196 291 349 401 55,000 56,000 92 201 298 357 412 56,000 57,000 94 206 306 365 423 57,000 58,000 96 211 313 375 432 58,000 59,000 98 216 320 384 442 59,000 60,000 101 221 327 393 452 60,000 62,000 104 228 339 406 467 62,000 64,000 109 238 353 424 488 64,000 66,000 113 248 368 441 509 66,000 68,000 118 258 382 459 529 68,000 70,000 122 268 397 476 550 70,000 72,000 127 277 413 493 570 72,000 74,000 131 288 427 511 590 74,000 76,000 136 297 442 529 610 76,000 78,000 140 307 457 546 631 78,000 80,000 145 317 471 564 651 80,000 85,000 152 335 497 595 686 85,000 90,000 164 359 534 639 737 90,000 95,000 175 384 570 683 789 95,000 100,000 186 409 607 727 839 100,000 110,000 203 446 662 793 916 110,000 120,000 226 495 736 881 1,018 120,000 130,000 248 545 809 970 1,119 130,000 140,000 271 594 883 1,058 1,220 140,000 150,000 293 644 956 1,146 1,322 150,000 160,000 316 693 1,030 1,234 1,424 160,000 170,000 338 743 1,103 1,322 1,526 170,000 180,000 361 792 1,177 1,410 1,628 180,000 190,000 383 842 1,250 1,498 1,730 190,000 200,000 406 891 1,324 1,586 1,831 200,000 210,000 428 941 1,397 1,675 1,932 210,000 220,000 451 990 1,471 1,762 2,035 220,000 230,000 473 1,040 1,544 1,851 2,136 230,000 240,000 496 1,089 1,618 1,939 2,238 240,000 And up 518 1,139 1,691 2,027 2,340 REV. 2011 tax returns PROC. 2011 tax returns 2009-24 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2009 Fair Market Value of Electric Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th and Later $18,500 $19,000 8 17 25 30 35 19,000 19,500 9 19 29 35 40 19,500 20,000 10 22 33 38 45 20,000 20,500 11 25 36 43 50 20,500 21,000 12 27 40 48 55 21,000 21,500 13 30 43 52 60 21,500 22,000 15 32 47 56 66 22,000 23,000 16 36 52 64 72 23,000 24,000 18 41 60 72 83 24,000 25,000 21 45 68 81 93 25,000 26,000 23 50 75 90 103 26,000 27,000 25 56 82 98 114 27,000 28,000 27 61 89 107 124 28,000 29,000 30 65 97 116 134 29,000 30,000 32 70 104 125 144 30,000 31,000 34 75 112 134 154 31,000 32,000 36 80 119 143 164 32,000 33,000 39 85 126 151 175 33,000 34,000 41 90 134 160 184 34,000 35,000 43 95 141 169 195 35,000 36,000 45 100 148 178 205 36,000 37,000 48 105 155 187 215 37,000 38,000 50 110 163 195 226 38,000 39,000 52 115 170 204 236 39,000 40,000 55 120 177 213 246 40,000 41,000 57 125 185 221 256 41,000 42,000 59 130 192 231 266 42,000 43,000 61 135 199 240 276 43,000 44,000 64 139 207 249 286 44,000 45,000 66 144 215 257 296 45,000 46,000 68 149 222 266 307 46,000 47,000 70 155 229 274 317 47,000 48,000 73 159 237 283 327 48,000 49,000 75 164 244 292 338 49,000 50,000 77 169 251 301 348 50,000 51,000 79 174 259 310 357 51,000 52,000 82 179 266 318 368 52,000 53,000 84 184 273 328 378 53,000 54,000 86 189 281 336 388 54,000 55,000 88 194 288 345 399 55,000 56,000 91 199 295 354 408 56,000 57,000 93 204 302 363 419 57,000 58,000 95 209 310 371 429 58,000 59,000 97 214 317 381 439 59,000 60,000 100 219 324 389 450 60,000 62,000 103 226 336 402 465 62,000 64,000 107 236 351 420 485 64,000 66,000 112 246 365 438 505 66,000 68,000 116 256 380 455 526 68,000 70,000 121 266 394 473 546 70,000 72,000 125 276 409 491 566 72,000 74,000 130 286 423 509 586 74,000 76,000 134 296 438 526 607 76,000 78,000 139 305 454 543 627 78,000 80,000 143 316 467 561 648 80,000 85,000 151 333 493 592 684 85,000 90,000 163 357 531 635 735 90,000 95,000 174 382 567 680 785 95,000 100,000 185 407 604 724 836 100,000 110,000 202 444 659 790 912 110,000 120,000 225 493 733 878 1,014 120,000 130,000 247 543 806 966 1,116 130,000 140,000 270 592 880 1,054 1,218 140,000 150,000 292 642 953 1,143 1,319 150,000 160,000 315 691 1,027 1,230 1,421 160,000 170,000 337 741 1,100 1,319 1,522 170,000 180,000 360 790 1,174 1,407 1,624 180,000 190,000 382 840 1,247 1,495 1,726 190,000 200,000 405 889 1,321 1,583 1,828 200,000 210,000 427 939 1,394 1,671 1,930 210,000 220,000 450 988 1,468 1,759 2,031 220,000 230,000 472 1,038 1,541 1,847 2,134 230,000 240,000 495 1,087 1,615 1,935 2,235 240,000 and up 517 1,137 1,688 2,024 2,336 SECTION 5. 2011 tax returns EFFECTIVE DATE This revenue procedure applies to passenger automobiles (other than leased passenger automobiles) that are first placed in service by a taxpayer during calendar year 2009, and to leased passenger automobiles that are first leased by a taxpayer during calendar year 2009. 2011 tax returns SECTION 6. 2011 tax returns DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 2011 tax returns Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 2011 tax returns For further information regarding this revenue procedure, contact Mr. 2011 tax returns Harvey at (202) 622-4930 (not a toll-free call). 2011 tax returns Prev  Up  Next   Home   More Internal Revenue Bulletins