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

Federal Tax Form 1040 Ez 2011

Free 1040xAmended Tax ReturnSnaptaxH & R Block Online1040nr Tax FormAmend My 2011 TaxesI Need To File My 2012 Taxes For Free2009 Amended Tax ReturnAmend 2010 Tax Return Turbotax1040ez Turbotax FreeFiling Tax Return OnlineAmended Tax FormsFree 2012 E FileIrs Form 1040xFree H&r Block Taxes2011 Online Tax SoftwareHow To File Tax ExtentionTurbo Tax 2013How To Fill Out A 1040x Tax Amendment FormFiling Late Taxes For 2012Federal Income Tax Amendment FormHow To Fill Out The 1040ezRevise Tax Return1040nr Form 2011Who Can File 1040ezIrs 2012 Tax Forms 1040 InstructionsTurbo Tax For StudentsAmend Tax ReturnTurbo TaxWhere Can I File My 2012 Taxes For Free2012 Income Tax FilingAmend 2011 Tax Return Form1040x Amended Return Form1040ez FormTaxslayer 2011Turbotax Deluxe Federal E File State 2011 Old VersionFed 1040ezTurbotax 2011 Free1040 Ez Instructions 2012Instructions Michigan 2012 Mi 1040x

Federal Tax Form 1040 Ez 2011

Federal tax form 1040 ez 2011 Publication 4492-B - Main Content Table of Contents DefinitionsMidwestern Disaster Areas Applicable Disaster Date Charitable Giving IncentivesTemporary Suspension of Limits on Charitable Contributions Standard Mileage Rate for Charitable Use of Vehicles Mileage Reimbursements to Charitable Volunteers Casualty and Theft LossesTime limit for making election. Federal tax form 1040 ez 2011 Replacement Period for Nonrecognition of Gain Net Operating Losses IRAs and Other Retirement PlansDefinitions Taxation of Qualified Disaster Recovery Assistance Distributions Repayment of Qualified Disaster Recovery Assistance Distributions Repayment of Qualified Distributions for the Purchase or Construction of a Main Home Loans From Qualified Plans Additional Tax Relief for IndividualsEarned Income Credit and Child Tax Credit Additional Exemption for Housing Individuals Displaced by the Severe Storms, Tornadoes, or Flooding Education Credits Recapture of Federal Mortgage Subsidy Exclusion of Certain Cancellations of Indebtedness by Reason of the Severe Storms, Tornadoes, or Flooding Tax Relief for Temporary Relocation Additional Tax Relief for BusinessesEmployee Retention Credit Employer Housing Credit and Exclusion Demolition and Clean-up Costs Increase in Rehabilitation Tax Credit Request for Copy or Transcript of Tax Return How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). Federal tax form 1040 ez 2011 Definitions The following definitions are used throughout this publication. Federal tax form 1040 ez 2011 Midwestern Disaster Areas A Midwestern disaster area is an area for which a major disaster was declared by the President during the period beginning on May 20, 2008, and ending on July 31, 2008, in the state of Arkansas, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, or Wisconsin, as a result of severe storms, tornadoes, or flooding that occurred on the applicable disaster date. Federal tax form 1040 ez 2011 See Tables 1 and 2 for a list of the counties included in the Midwestern disaster areas. Federal tax form 1040 ez 2011 Applicable Disaster Date The term “applicable disaster date” as used in this publication, refers to the date on which the severe storms, tornadoes, or flooding occurred in the Midwestern disaster areas. Federal tax form 1040 ez 2011 You will need to know this date when using this publication for the various tax provisions. Federal tax form 1040 ez 2011 Table 1 The counties listed in Table 1 below are eligible for all tax provisions shown in this publication. Federal tax form 1040 ez 2011 Applicable Disaster Dates* State Affected Counties—Midwestern Disaster Areas 05/02/2008through05/12/2008 Arkansas Arkansas, Benton, Cleburne, Conway, Crittenden, Grant, Lonoke, Mississippi, Phillips, Pulaski, Saline, and Van Buren. Federal tax form 1040 ez 2011 06/01/2008through07/22/2008 Illinois Adams, Calhoun, Clark, Coles, Crawford, Cumberland, Douglas, Edgar, Hancock, Henderson, Jasper, Jersey, Lake, Lawrence, Mercer, Rock Island, Whiteside, and Winnebago. Federal tax form 1040 ez 2011 05/30/2008through06/27/2008 Indiana Adams, Bartholomew, Brown, Clay, Daviess, Dearborn, Decatur, Gibson, Grant, Greene, Hamilton, Hancock, Hendricks, Henry, Huntington, Jackson, Jefferson, Jennings, Johnson, Knox, Lawrence, Madison, Marion, Monroe, Morgan, Owen, Parke, Pike, Posey, Putnam, Randolph, Ripley, Rush, Shelby, Sullivan, Tippecanoe, Vermillion, Vigo, Washington, and Wayne. Federal tax form 1040 ez 2011 05/25/2008through08/13/2008 Iowa Adair, Adams, Allamakee, Appanoose, Audubon, Benton, Black Hawk, Boone, Bremer, Buchanan, Butler, Cass, Cedar, Cerro Gordo, Chickasaw, Clarke, Clayton, Clinton, Crawford, Dallas, Davis, Decatur, Delaware, Des Moines, Dubuque, Fayette, Floyd, Franklin, Fremont, Greene, Grundy, Guthrie, Hamilton, Hancock, Hardin, Harrison, Henry, Howard, Humboldt, Iowa, Jackson, Jasper, Johnson, Jones, Keokuk, Kossuth, Lee, Linn, Louisa, Lucas, Madison, Mahaska, Marion, Marshall, Mills, Mitchell, Monona, Monroe, Montgomery, Muscatine, Page, Polk, Pottawattamie, Poweshiek, Ringgold, Scott, Story, Tama, Union, Van Buren, Wapello, Warren, Washington, Webster, Winnebago, Winneshiek, Worth, and Wright. Federal tax form 1040 ez 2011 05/10/2008through05/11/2008 Missouri Barry, Jasper, and Newton. Federal tax form 1040 ez 2011 06/01/2008through08/13/2008 Missouri Adair, Andrew, Callaway, Cass, Chariton, Clark, Gentry, Greene, Harrison, Holt, Johnson, Lewis, Lincoln, Linn, Livingston, Macon, Marion, Monroe, Nodaway, Pike, Putnam, Ralls, St. Federal tax form 1040 ez 2011 Charles, Stone, Taney, Vernon, and Webster. Federal tax form 1040 ez 2011 05/22/2008through06/24/2008 Nebraska Buffalo, Butler, Colfax, Custer, Dawson, Douglas, Gage, Hamilton, Holt, Jefferson, Kearney, Lancaster, Platte, Richardson, Sarpy, and Saunders. Federal tax form 1040 ez 2011 06/05/2008through07/25/2008 Wisconsin Adams, Calumet, Crawford, Columbia, Dane, Dodge, Fond du Lac, Grant, Green, Green Lake, Iowa, Jefferson, Juneau, Kenosha, La Crosse, Manitowoc, Marquette, Milwaukee, Monroe, Ozaukee, Racine, Richland, Rock, Sauk, Sheboygan, Vernon, Walworth, Washington, Waukesha, and Winnebago. Federal tax form 1040 ez 2011 *For more details, go to www. Federal tax form 1040 ez 2011 fema. Federal tax form 1040 ez 2011 gov Table 2 The counties listed in Table 2 below are eligible for all of the special tax provisions shown in this publication except the following. Federal tax form 1040 ez 2011 Charitable Giving Incentives. Federal tax form 1040 ez 2011 Net Operating Losses. Federal tax form 1040 ez 2011 Education Credits. Federal tax form 1040 ez 2011 Recapture of Federal Mortgage Subsidy. Federal tax form 1040 ez 2011 Tax Relief for Temporary Relocation. Federal tax form 1040 ez 2011 Employee Retention Credit. Federal tax form 1040 ez 2011 Employer Housing Credit and Exclusion. Federal tax form 1040 ez 2011 Demolition and Clean-up Costs. Federal tax form 1040 ez 2011 Increase in Rehabilitation Credit. Federal tax form 1040 ez 2011 Applicable Disaster Dates* State Affected Counties—Midwestern Disaster Areas 06/01/2008through07/22/2008 Illinois Greene, Madison, Monroe, Pike, Randolph, St. Federal tax form 1040 ez 2011 Clair, and Scott. Federal tax form 1040 ez 2011 05/30/2008through06/27/2008 Indiana Benton, Boone, Fountain, Franklin, Jay, Montgomery, Ohio, Switzerland, Union, and Wabash. Federal tax form 1040 ez 2011 05/25/2008through08/13/2008 Iowa Carroll, Cherokee, Lyon, Palo Alto, Pocahontas, Taylor, and Wayne. Federal tax form 1040 ez 2011 05/22/2008through06/16/2008 Kansas Barber, Barton, Bourbon, Brown, Butler, Chautauqua, Cherokee, Clark, Clay, Comanche, Cowley, Crawford, Decatur, Dickinson, Edwards, Elk, Ellis, Ellsworth, Franklin, Gove, Graham, Harper, Haskell, Hodgeman, Jackson, Jewell, Kingman, Kiowa, Lane, Linn, Logan, Mitchell, Montgomery, Ness, Norton, Osborne, Pawnee, Phillips, Pratt, Reno, Republic, Riley, Rooks, Rush, Saline, Seward, Sheridan, Smith, Stafford, Sumner, Thomas, Trego, Wallace, and Wilson. Federal tax form 1040 ez 2011 06/06/2008through06/13/2008 Michigan Allegan, Barry, Eaton, Ingham, Lake, Manistee, Mason, Missaukee, Osceola, Ottawa, Saginaw, and Wexford. Federal tax form 1040 ez 2011 06/06/2008through06/12/2008 Minnesota Cook, Fillmore, Freeborn, Houston, Mower, and Nobles. Federal tax form 1040 ez 2011 06/01/2008through08/13/2008 Missouri Atchison, Audrain, Bates, Buchanan, Cape Girardeau, Carroll, Christian, Daviess, Grundy, Howard, Jefferson, Knox, Mercer, Miller, Mississippi, Morgan, New Madrid, Pemiscot, Perry, Pettis, Platte, Polk, Randolph, Ray, Saline, Schuyler, Scotland, Shelby, St. Federal tax form 1040 ez 2011 Genevieve, St. Federal tax form 1040 ez 2011 Louis, the Independent City of St. Federal tax form 1040 ez 2011 Louis, Scott, Sullivan, and Worth. Federal tax form 1040 ez 2011 04/23/2008through04/26/2008 Nebraska Gage, Johnson, Morrill, Nemaha, and Pawnee. Federal tax form 1040 ez 2011 05/22/2008through06/24/2008 Nebraska Adams, Blaine, Boone, Boyd, Brown, Burt, Cass, Chase, Cherry, Cuming, Dundy, Fillmore, Frontier, Furnas, Garfield, Gosper, Greeley, Hall, Hayes, Howard, Johnson, Keya Paha, Lincoln, Logan, Loup, Merrick, McPherson, Morrill, Nance, Nemaha, Otoe, Phelps, Polk, Red Willow, Rock, Saline, Seward, Sherman, Stanton, Thayer, Thomas, Thurston, Valley, Webster, Wheeler, and York. Federal tax form 1040 ez 2011 06/27/2008 Nebraska Dodge, Douglas, Sarpy, and Saunders. Federal tax form 1040 ez 2011 06/05/2008through07/25/2008 Wisconsin Lafayette. Federal tax form 1040 ez 2011 * For more details, go to www. Federal tax form 1040 ez 2011 fema. Federal tax form 1040 ez 2011 gov Charitable Giving Incentives Temporary Suspension of Limits on Charitable Contributions This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 Individuals. Federal tax form 1040 ez 2011   Qualified contributions are not subject to the overall limit on itemized deductions or the 50% of adjusted gross income (AGI) limit. Federal tax form 1040 ez 2011 A qualified contribution is a charitable contribution paid in cash or by check to a 50% limit organization if you make an election to have the 50% limit not apply to these contributions. Federal tax form 1040 ez 2011   A qualified contribution must also meet all of the following requirements. Federal tax form 1040 ez 2011 Be paid after May 1, 2008, and before January 1, 2009. Federal tax form 1040 ez 2011 The contribution must be for relief efforts in one or more Midwestern disaster areas. Federal tax form 1040 ez 2011 Documentation must be provided by the donee organization that the contribution was used (or will be used) for relief efforts in one or more Midwestern disaster areas. Federal tax form 1040 ez 2011   Your deduction for qualified contributions is limited to your AGI minus your deduction for all other charitable contributions. Federal tax form 1040 ez 2011 You can carry over any contributions you are not able to deduct for 2008 because of this limit. Federal tax form 1040 ez 2011 In 2009, the carryover of your unused qualified contributions is subject to the 50% of AGI limit. Federal tax form 1040 ez 2011 Exception. Federal tax form 1040 ez 2011   Qualified contributions do not include contributions to certain private foundations described in section 509(a)(3) or contributions for the establishment of a new, or maintenance of an existing, donor advised fund. Federal tax form 1040 ez 2011 Corporations. Federal tax form 1040 ez 2011   A corporation can elect to deduct qualified cash contributions without regard to the 10% of taxable income limit if the contributions were paid after May 1, 2008, and before January 1, 2009, to a qualified charitable organization (other than certain private foundations described in section 509(a)(3) or contributions for the establishment of a new, or maintenance of an existing, donor advised fund), for relief efforts in one or more Midwestern disaster areas. Federal tax form 1040 ez 2011 Documentation must be provided by the donee organization that the contribution was used (or will be used) for relief efforts in one or more Midwestern disaster areas. Federal tax form 1040 ez 2011 The corporation's deduction for these qualified contributions is limited to 100% of taxable income (as modified for the 10% limit) minus the corporation's deduction for all other charitable contributions. Federal tax form 1040 ez 2011 Any qualified contributions over this limit can be carried over to the next 5 years, subject to the 10% of taxable income limit. Federal tax form 1040 ez 2011 Partners and shareholders. Federal tax form 1040 ez 2011   Each partner in a partnership and each shareholder in an S corporation must make a separate election to have the appropriate limit not apply. Federal tax form 1040 ez 2011 More information. Federal tax form 1040 ez 2011   For more information, see Publication 526 or Publication 542, Corporations. Federal tax form 1040 ez 2011 Publication 526 includes a worksheet you can use to figure your deduction if any limits apply to your charitable contributions. Federal tax form 1040 ez 2011 Standard Mileage Rate for Charitable Use of Vehicles This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 The following are special standard mileage rates in effect for 2008 for the cost of operating your vehicle for providing charitable services related only to the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 36 cents per mile for the period beginning on the applicable disaster date through June 30, 2008. Federal tax form 1040 ez 2011 41 cents per mile for the period July 1 through December 31, 2008. Federal tax form 1040 ez 2011 Mileage Reimbursements to Charitable Volunteers This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 You can exclude from income amounts you receive as mileage reimbursements for the use of a private passenger vehicle for the benefit of a qualified charitable organization in providing relief related to the severe storms, tornadoes, or flooding during the period beginning on the applicable disaster date, and ending on December 31, 2008. Federal tax form 1040 ez 2011 You cannot claim a deduction or credit for amounts you exclude. Federal tax form 1040 ez 2011 You must keep records of miles driven, time, place (or use), and purpose of the mileage. Federal tax form 1040 ez 2011 The amount you can exclude cannot exceed the standard business mileage rate (shown below) for expenses incurred during the following periods. Federal tax form 1040 ez 2011 50. Federal tax form 1040 ez 2011 5 cents per mile for the period beginning on the applicable disaster date through June 30, 2008. Federal tax form 1040 ez 2011 58. Federal tax form 1040 ez 2011 5 cents per mile for the period July 1 through December 31, 2008. Federal tax form 1040 ez 2011 Casualty and Theft Losses This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 The following paragraphs explain changes to casualty and theft losses that were caused by the severe storms, tornadoes, or flooding in the Midwestern disaster areas. Federal tax form 1040 ez 2011 For more information, see Publication 547. Federal tax form 1040 ez 2011 Limits on personal casualty or theft losses. Federal tax form 1040 ez 2011   Losses of personal use property that arose in a Midwestern disaster area on or after the applicable disaster date are not subject to the $100 or 10% of AGI limits. Federal tax form 1040 ez 2011 Qualifying losses include losses from casualties and thefts that arose in a Midwestern disaster area that were attributable to the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 When completing Form 4684, do not include on line 17 any losses that arose in a Midwestern disaster area. Federal tax form 1040 ez 2011 A loss arising in a Midwestern disaster area is not considered a loss attributable to a federally declared disaster for purposes of that line and cannot be added to your standard deduction. Federal tax form 1040 ez 2011 When to deduct the loss. Federal tax form 1040 ez 2011   Casualty and theft losses are generally deductible only in the year the casualty occurred or the theft was discovered. Federal tax form 1040 ez 2011 However, you can elect to deduct losses caused by the severe storms, tornadoes, or flooding on your return for the prior year. Federal tax form 1040 ez 2011 Special instructions for individuals who elect to claim a Midwestern disaster area casualty or theft loss for 2007. Federal tax form 1040 ez 2011   Individuals filing or amending their 2007 tax return for casualty or theft losses that were attributable to the severe storms, tornadoes, or flooding should: Enter “Midwestern Disaster Area” at the top of Form 1040 or Form 1040X, and Complete the 2008 version of Form 4684. Federal tax form 1040 ez 2011 Cross out “2008” and enter “2007” at the top of Form 4684. Federal tax form 1040 ez 2011 Time limit for making election. Federal tax form 1040 ez 2011   You must make this election to claim your casualty or theft loss in 2007 by the later of the following dates. Federal tax form 1040 ez 2011 The due date (without extensions) for filing your 2008 income tax return. Federal tax form 1040 ez 2011 The due date (with extensions) for filing your 2007 income tax return. Federal tax form 1040 ez 2011 Example. Federal tax form 1040 ez 2011 If you are a calendar year individual taxpayer, you have until April 15, 2009, to amend your 2007 tax return to claim a casualty or theft loss that occurred during 2008. Federal tax form 1040 ez 2011 Replacement Period for Nonrecognition of Gain This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 Generally, an involuntary conversion occurs when property is damaged, destroyed, stolen, seized, requisitioned, or condemned, and you receive other property or money in payment, such as insurance or a condemnation award. Federal tax form 1040 ez 2011 Generally, you do not have to report a gain (if any) if you replace the property within 2 years (4 years for a main home in a federally declared disaster area). Federal tax form 1040 ez 2011 However, for property that was involuntarily converted on or after the applicable disaster date, as a result of the severe storms, tornadoes, or flooding, a 5-year replacement period applies if substantially all of the use of the replacement property is in a Midwestern disaster area. Federal tax form 1040 ez 2011 For more information, see the Instructions for Form 4684. Federal tax form 1040 ez 2011 Net Operating Losses This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance loss. Federal tax form 1040 ez 2011   Generally, you can carry a net operating loss (NOL) back to the 2 tax years before the NOL year. Federal tax form 1040 ez 2011 However, the portion of an NOL that is a qualified disaster recovery assistance loss can be carried back to the 5 tax years before the NOL year. Federal tax form 1040 ez 2011 In addition, the 90% limit on the alternative tax NOL deduction (ATNOLD) does not apply to such portion of the ATNOLD. Federal tax form 1040 ez 2011   A qualified disaster recovery assistance loss is the smaller of: The excess of the NOL for the year over the specified liability loss for the year to which a 10-year carryback applies, or The total of the following deductions (to the extent they are taken into account in computing the NOL for the tax year): Qualified disaster recovery assistance casualty loss (as defined below), Moving expenses paid or incurred on or after the applicable disaster date, and before January 1, 2011, for the employment of an individual whose main home was in a Midwestern disaster area before the applicable disaster date, who was unable to remain in that home because of the severe storms, tornadoes, or flooding, and whose main job location (after the move) is in a Midwestern disaster area, Temporary housing expenses paid or incurred on or after the applicable disaster date, and before January 1, 2011, to house employees of the taxpayer whose main job location is in a Midwestern disaster area, Depreciation or amortization allowable for any qualified disaster recovery assistance property (even if you elected not to claim the special disaster recovery assistance depreciation allowance for such property) for the year placed in service, and Repair expenses (including expenses for the removal of debris) paid or incurred on or after the applicable disaster date, and before January 1, 2011, for any damage from the severe storms, tornadoes, or flooding to property located in a Midwestern disaster area. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance casualty loss. Federal tax form 1040 ez 2011   A qualified disaster recovery assistance casualty loss is any deductible section 1231 loss of property located in a Midwestern disaster area if the loss was caused by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 For this purpose, the amount of the loss is reduced by any recognized gain from an involuntary conversion caused by the severe storms, tornadoes, or flooding of property located in a Midwestern disaster area. Federal tax form 1040 ez 2011 Any such loss taken into account in figuring your qualified disaster recovery assistance loss is not eligible for the election to be treated as having occurred in the previous tax year. Federal tax form 1040 ez 2011 More information. Federal tax form 1040 ez 2011   For more information on NOLs, see Publication 536 or Publication 542, Corporations. Federal tax form 1040 ez 2011 IRAs and Other Retirement Plans New rules provide for tax-favored withdrawals, repayments, and loans from certain retirement plans for taxpayers who suffered economic losses as a result of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Definitions Qualified disaster recovery assistance distribution. Federal tax form 1040 ez 2011   A qualified disaster recovery assistance distribution is any distribution you received from an eligible retirement plan if all of the following apply. Federal tax form 1040 ez 2011 The distribution was made on or after the applicable disaster date and before January 1, 2010. Federal tax form 1040 ez 2011 Your main home was located in a Midwestern disaster area on the applicable disaster date. Federal tax form 1040 ez 2011 You sustained an economic loss because of the severe storms, tornadoes, or flooding and your main home was in a Midwestern disaster area on the applicable disaster date. Federal tax form 1040 ez 2011 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Federal tax form 1040 ez 2011   If (1) through (3) above apply, you can generally designate any distribution (including periodic payments and required minimum distributions) from an eligible retirement plan as a qualified disaster recovery assistance distribution, regardless of whether the distribution was made on account of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance distributions are permitted without regard to your need or the actual amount of your economic loss. Federal tax form 1040 ez 2011   The total of your qualified disaster recovery assistance distributions from all plans is limited to $100,000. Federal tax form 1040 ez 2011 If you have distributions in excess of $100,000 from more than one type of plan, such as a 401(k) plan and an IRA, you can allocate the $100,000 limit among the plans any way you choose. Federal tax form 1040 ez 2011   A reduction or offset (on or after the applicable disaster date) of your account balance in an eligible retirement plan in order to repay a loan can also be designated as a qualified disaster recovery assistance distribution. Federal tax form 1040 ez 2011 Eligible retirement plan. Federal tax form 1040 ez 2011   An eligible retirement plan can be any of the following. Federal tax form 1040 ez 2011 A qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan). Federal tax form 1040 ez 2011 A qualified annuity plan. Federal tax form 1040 ez 2011 A tax-sheltered annuity contract. Federal tax form 1040 ez 2011 A governmental section 457 deferred compensation plan. Federal tax form 1040 ez 2011 A traditional, SEP, SIMPLE, or Roth IRA. Federal tax form 1040 ez 2011 Main home. Federal tax form 1040 ez 2011   Generally, your main home is the home where you live most of the time. Federal tax form 1040 ez 2011 A temporary absence due to special circumstances, such as illness, education, business, military service, evacuation, or vacation, will not change your main home. Federal tax form 1040 ez 2011 Taxation of Qualified Disaster Recovery Assistance Distributions This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance distributions are included in income in equal amounts over three years. Federal tax form 1040 ez 2011 However, if you elect, you can include the entire distribution in your income in the year it was received. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance distributions are not subject to the additional 10% tax (or the additional 25% tax for certain distributions from SIMPLE IRAs) on early distributions from qualified retirement plans (including IRAs). Federal tax form 1040 ez 2011 However, any distributions you receive in excess of the $100,000 qualified disaster recovery assistance distribution limit may be subject to the additional tax on early distributions. Federal tax form 1040 ez 2011 For more information, see Form 8930. Federal tax form 1040 ez 2011 Repayment of Qualified Disaster Recovery Assistance Distributions This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 If you choose, you generally can repay any portion of a qualified disaster recovery assistance distribution that is eligible for tax-free rollover treatment to an eligible retirement plan. Federal tax form 1040 ez 2011 Also, you can repay a qualified disaster recovery assistance distribution made on account of a hardship from a retirement plan. Federal tax form 1040 ez 2011 However, see Exceptions later for qualified disaster recovery assistance distributions you cannot repay. Federal tax form 1040 ez 2011 You have three years from the day after the date you received the distribution to make a repayment. Federal tax form 1040 ez 2011 Amounts that are repaid are treated as a qualified rollover and are not included in income. Federal tax form 1040 ez 2011 Also, a repayment of a qualified disaster recovery assistance distribution to an IRA is not counted when figuring the one-rollover-per-year limitation. Federal tax form 1040 ez 2011 See Form 8930 for more information on how to report repayments. Federal tax form 1040 ez 2011 Exceptions. Federal tax form 1040 ez 2011   You cannot repay the following types of distributions. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance distributions received as a beneficiary (other than a surviving spouse). Federal tax form 1040 ez 2011 Required minimum distributions. Federal tax form 1040 ez 2011 Periodic payments (other than from an IRA) that are for: A period of 10 years or more, Your life or life expectancy, or The joint lives or joint life expectancies of you and your beneficiary. Federal tax form 1040 ez 2011 Repayment of Qualified Distributions for the Purchase or Construction of a Main Home This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 If you received a qualified distribution to purchase or construct a main home in a Midwestern disaster area, you can repay part or all of that distribution on or after the applicable disaster date, but no later than March 3, 2009, to an eligible retirement plan. Federal tax form 1040 ez 2011 For this purpose, an eligible retirement plan is any plan, annuity, or IRA to which a qualified rollover can be made. Federal tax form 1040 ez 2011 To be a qualified distribution, the distribution must meet all of the following requirements. Federal tax form 1040 ez 2011 The distribution is a hardship distribution from a 401(k) plan, a hardship distribution from a tax-sheltered annuity contract, or a qualified first-time homebuyer distribution from an IRA. Federal tax form 1040 ez 2011 The distribution was received after the date that was 6 months before the day after the applicable disaster date. Federal tax form 1040 ez 2011 The distribution was to be used to purchase or construct a main home in a Midwestern disaster area that was not purchased or constructed because of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Amounts that are repaid before March 4, 2009, are treated as a qualified rollover and are not included in income. Federal tax form 1040 ez 2011 Also, a repayment of a qualified distribution to an IRA is not counted when figuring the one-rollover-per-year limitation. Federal tax form 1040 ez 2011 A qualified distribution not repaid before March 4, 2009, may be taxable for 2007 or 2008 and subject to the additional 10% tax (or the additional 25% tax for certain SIMPLE IRAs) on early distributions. Federal tax form 1040 ez 2011 You must file Form 8930 if you received a qualified distribution that you repaid, in whole or in part, before March 4, 2009. Federal tax form 1040 ez 2011 Loans From Qualified Plans This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 The following benefits are available to qualified individuals. Federal tax form 1040 ez 2011 Increases to the limits for distributions treated as loans from employer plans. Federal tax form 1040 ez 2011 A 1-year suspension for payments due on plan loans. Federal tax form 1040 ez 2011 Qualified individual. Federal tax form 1040 ez 2011   You are a qualified individual if your main home was located in a Midwestern disaster area on the applicable disaster date and you had an economic loss because of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Federal tax form 1040 ez 2011 Limits on plan loans. Federal tax form 1040 ez 2011   The $50,000 limit for distributions treated as plan loans is increased to $100,000. Federal tax form 1040 ez 2011 In addition, the limit based on 50% of your vested accrued benefit is increased to 100% of that benefit. Federal tax form 1040 ez 2011 If your main home was located in a Midwestern disaster area, the higher limits apply only to loans received during the period beginning on October 3, 2008, and ending on December 31, 2009. Federal tax form 1040 ez 2011 One-year suspension of loan payments. Federal tax form 1040 ez 2011   Payments on plan loans outstanding on or after the applicable disaster date, may be suspended for 1 year by the plan administrator. Federal tax form 1040 ez 2011 To qualify for the suspension, the due date for any loan payment must occur during the period beginning on the applicable disaster date and ending on December 31, 2009. Federal tax form 1040 ez 2011 Additional Tax Relief for Individuals Earned Income Credit and Child Tax Credit This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 You can elect to use your 2007 earned income to figure your earned income credit (EIC) and additional child tax credit for 2008 if: Your 2008 earned income is less than your 2007 earned income, and At least one of the following statements is true. Federal tax form 1040 ez 2011 Your main home on the applicable disaster date was in a Midwestern disaster area as shown in Table 1. Federal tax form 1040 ez 2011 Your main home on the applicable disaster date was in a Midwestern disaster area as shown in Table 2, and you were displaced from that home because of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Earned income. Federal tax form 1040 ez 2011    For the purpose of this election, your earned income for both the EIC and the additional child tax credit is the amount of earned income used to figure your EIC, even if you did not take the EIC and even if that amount is different than your earned income for the additional child tax credit. Federal tax form 1040 ez 2011 If you are claiming only the additional child tax credit, you must figure the amount of your earned income for EIC purposes to determine your eligibility to make the election and the amount of the credit. Federal tax form 1040 ez 2011 Joint returns. Federal tax form 1040 ez 2011   If you file a joint return, you qualify to make this election even if only one spouse meets the requirements. Federal tax form 1040 ez 2011 If you make the election, your 2007 earned income is the sum of your 2007 earned income and your spouse's 2007 earned income. Federal tax form 1040 ez 2011 Making the election. Federal tax form 1040 ez 2011   If you make the election to use your 2007 earned income, the election applies for figuring both the EIC and the additional child tax credit. Federal tax form 1040 ez 2011 However, you can make the election for the additional child tax credit even if you do not take the EIC. Federal tax form 1040 ez 2011   Electing to use your 2007 earned income can increase or decrease your EIC. Federal tax form 1040 ez 2011 Take the following steps to decide whether to make the election. Federal tax form 1040 ez 2011 Figure your 2008 EIC using your 2007 earned income. Federal tax form 1040 ez 2011 Figure your 2008 additional child tax credit using your 2007 earned income for EIC purposes. Federal tax form 1040 ez 2011 Add the results of (1) and (2). Federal tax form 1040 ez 2011 Figure your 2008 EIC using your 2008 earned income. Federal tax form 1040 ez 2011 Figure your 2008 additional child tax credit using your 2008 earned income for additional child tax credit purposes. Federal tax form 1040 ez 2011 Add the results of (4) and (5). Federal tax form 1040 ez 2011 Compare the results of (3) and (6). Federal tax form 1040 ez 2011 If (3) is larger than (6), it is to your benefit to make the election. Federal tax form 1040 ez 2011 If (3) is equal to or smaller than (6), making the election will not help you. Federal tax form 1040 ez 2011   If you elect to use your 2007 earned income and you are claiming the EIC, enter “PYEI” and the amount of your 2007 earned income on the dotted line next to line 64a of Form 1040, on the line next to line 40a of Form 1040A, or in the space to the left of line 8a of Form 1040EZ. Federal tax form 1040 ez 2011   If you elect to use your 2007 earned income and you are claiming the additional child tax credit, enter your 2007 earned income for EIC purposes (even if you did not claim the EIC) on Form 8812, Additional Child Tax Credit, line 4a, and check the box on that line. Federal tax form 1040 ez 2011 Getting your 2007 tax return information. Federal tax form 1040 ez 2011   If you do not have your 2007 tax records, you can get the amount of earned income used to figure your 2007 EIC by calling 1-866-562-5227. Federal tax form 1040 ez 2011 You can also get this information by visiting the IRS website at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov. Federal tax form 1040 ez 2011   If you prefer to figure your 2007 earned income yourself, copies or transcripts of your filed and processed tax returns can help you reconstruct your tax records. Federal tax form 1040 ez 2011 See Request for Copy or Transcript of Tax Return on page 11. Federal tax form 1040 ez 2011 Additional Exemption for Housing Individuals Displaced by the Severe Storms, Tornadoes, or Flooding This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 You can claim an additional exemption amount of $500 for providing housing in your main home for each individual displaced by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 The additional exemption amount is claimed on Form 8914. Federal tax form 1040 ez 2011 You can claim an additional exemption amount only one time for a specific individual. Federal tax form 1040 ez 2011 If you claimed an additional exemption amount for an individual in 2008, you cannot claim that amount again for the same individual in 2009. Federal tax form 1040 ez 2011 The maximum additional exemption amount you can claim for all displaced individuals is $2,000. Federal tax form 1040 ez 2011 Any additional exemption amount you claimed for displaced individuals in 2008 will reduce the $2,000 maximum for 2009. Federal tax form 1040 ez 2011 The $2,000 limit applies to a husband and wife, whether the husband and wife file joint returns or separate returns. Federal tax form 1040 ez 2011 If married filing separately, the $2,000 can be divided in $500 increments between the spouses. Federal tax form 1040 ez 2011 For example, if one spouse claims an additional exemption amount for one displaced individual, the other spouse, if otherwise eligible, can claim additional exemption amounts for three different displaced individuals. Federal tax form 1040 ez 2011 If two or more taxpayers share the same main home, only one taxpayer in that main home can claim the additional exemption amount for a specific displaced individual. Federal tax form 1040 ez 2011 In order for you to be considered to have provided housing, you must have a legal interest in the main home (that is, own or rent the home). Federal tax form 1040 ez 2011 To qualify as a displaced individual, the individual: Must have had his or her main home in a Midwestern disaster area on the applicable disaster date, and he or she must have been displaced from that home. Federal tax form 1040 ez 2011 If the individual's main home was located in a Midwestern disaster area as shown in Table 2, that home must have been damaged by the severe storms, tornadoes, or flooding or the individual must have been evacuated from that home because of the severe storms, tornadoes, or flooding, Must have been provided housing in your main home for a period of at least 60 consecutive days ending in the tax year in which the exemption is claimed, and Cannot be your spouse or dependent. Federal tax form 1040 ez 2011 You cannot claim the additional exemption amount if you received rent (or any other amount) from any source for providing the housing. Federal tax form 1040 ez 2011 You are permitted to receive payments or reimbursements that do not relate to normal housing costs, including the following. Federal tax form 1040 ez 2011 Food, clothing, or personal items consumed or used by the displaced individual. Federal tax form 1040 ez 2011 Reimbursement for the cost of any long distance telephone calls made by the displaced individual. Federal tax form 1040 ez 2011 Reimbursement for the cost of gasoline for the displaced individual's use of your vehicle. Federal tax form 1040 ez 2011 However, you cannot claim the additional exemption amount if you received any reimbursement for the extra costs of heat, electricity, or water used by the displaced individual. Federal tax form 1040 ez 2011 Also, you must report on Form 8914 the displaced individual's social security number or individual taxpayer identification number to claim an additional exemption amount. Federal tax form 1040 ez 2011 For more information, see Form 8914. Federal tax form 1040 ez 2011 Education Credits This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 The education credits have been expanded for students attending an eligible educational institution located in a Midwestern disaster area (Midwestern disaster area students) for any tax year beginning in 2008 or 2009. Federal tax form 1040 ez 2011 The Hope credit for a Midwestern disaster area student is increased to 100% of the first $2,400 in qualified education expenses and 50% of the next $2,400 of qualified education expenses for a maximum credit of $3,600 per student. Federal tax form 1040 ez 2011 The lifetime learning credit rate for a Midwestern disaster area student is increased from 20% to 40%. Federal tax form 1040 ez 2011 The definition of qualified education expenses for a Midwestern disaster area student also has been expanded. Federal tax form 1040 ez 2011 This expanded definition also applies to the tuition and fees deduction claimed on Form 8917. Federal tax form 1040 ez 2011 In addition to tuition and fees required for the student's enrollment or attendance at an eligible educational institution, qualified education expenses for a Midwestern disaster area student include the following. Federal tax form 1040 ez 2011 Books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. Federal tax form 1040 ez 2011 For a special needs student, expenses that are necessary for that person's enrollment or attendance at an eligible educational institution. Federal tax form 1040 ez 2011 For a student who is at least a half-time student, the reasonable costs of room and board, but only to the extent that the costs are not more than the greater of the following two amounts. Federal tax form 1040 ez 2011 The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Federal tax form 1040 ez 2011 The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Federal tax form 1040 ez 2011 You will need to contact the eligible educational institution for qualified room and board costs. Federal tax form 1040 ez 2011 For more information, see Form 8863. Federal tax form 1040 ez 2011 See Form 8917 for the tuition and fees deduction. Federal tax form 1040 ez 2011 Recapture of Federal Mortgage Subsidy This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 Generally, if you financed your home under a federally subsidized program (loans from tax-exempt qualified mortgage bonds or loans with mortgage credit certificates), you may have to recapture all or part of the benefit you received from that program when you sell or otherwise dispose of your home. Federal tax form 1040 ez 2011 However, you do not have to recapture any benefit if your mortgage loan was a qualified home improvement loan of not more than $15,000. Federal tax form 1040 ez 2011 This amount is increased to $150,000 if the loan was provided before 2011 and was used to alter, repair, or improve an existing owner-occupied residence in a Midwestern disaster area as shown in Table 1. Federal tax form 1040 ez 2011 Exclusion of Certain Cancellations of Indebtedness by Reason of the Severe Storms, Tornadoes, or Flooding This benefit applies to the counties in both Tables 1 and 2. Federal tax form 1040 ez 2011 Generally, discharges of nonbusiness debts (such as mortgages) made on or after the applicable disaster date and before January 1, 2010, are excluded from income for individuals whose main home was in a Midwestern disaster area on the applicable disaster date. Federal tax form 1040 ez 2011 If the individual's main home was located in a Midwestern disaster area as shown in Table 2, the individual also must have had an economic loss because of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Federal tax form 1040 ez 2011 This relief does not apply to any debt secured by real property located outside a Midwestern disaster area. Federal tax form 1040 ez 2011 You may also have to reduce certain tax attributes by the amount excluded. Federal tax form 1040 ez 2011 For more information, see Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment). Federal tax form 1040 ez 2011 Tax Relief for Temporary Relocation This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 The IRS can adjust the internal revenue laws to ensure that taxpayers do not lose a deduction or credit or experience a change of filing status in 2008 or 2009 as a result of a temporary relocation caused by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 However, any such adjustment must ensure that an individual is not taken into account by more than one taxpayer for the same tax benefit. Federal tax form 1040 ez 2011 The IRS has exercised this authority as follows. Federal tax form 1040 ez 2011 In determining whether you furnished over one-half of the cost of maintaining a household, you can exclude from total household costs any assistance received from the government or charitable organizations because you were temporarily relocated as a result of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 In determining whether you provided more than one-half of an individual's support, you can disregard any assistance received from the government or charitable organizations because you were temporarily relocated as a result of the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 You can treat as a student an individual who enrolled in school before the applicable disaster date, and who is unable to attend classes because of the severe storms, tornadoes, or flooding, for each month of the enrollment period that individual is prevented by the severe storms, tornadoes, or flooding from attending school as planned. Federal tax form 1040 ez 2011 Additional Tax Relief for Businesses Employee Retention Credit This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 An eligible employer who conducted an active trade or business in a Midwestern disaster area can claim the employee retention credit. Federal tax form 1040 ez 2011 The credit is 40% of qualified wages for each eligible employee (up to a maximum of $6,000 in qualified wages per employee). Federal tax form 1040 ez 2011 Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). Federal tax form 1040 ez 2011 Use Form 5884-A to claim the credit. Federal tax form 1040 ez 2011 Employers affected by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011   The following definitions apply to employers affected by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Eligible employer. Federal tax form 1040 ez 2011   For this purpose, an eligible employer is any employer who meets all of the following. Federal tax form 1040 ez 2011 Employed an average of not more than 200 employees on business days during the tax year before the applicable disaster date. Federal tax form 1040 ez 2011 Conducted an active trade or business on the applicable disaster date in a Midwestern disaster area. Federal tax form 1040 ez 2011 Whose trade or business was inoperable on any day after the applicable disaster date and before January 1, 2009, because of the damage caused by the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Eligible employee. Federal tax form 1040 ez 2011   For this purpose, an eligible employee is an employee whose principal place of employment on the applicable disaster date with such eligible employer was in a Midwestern disaster area. Federal tax form 1040 ez 2011 An employee is not an eligible employee for purposes of the severe storms, tornadoes, or flooding if the employee is treated as an eligible employee for the work opportunity credit. Federal tax form 1040 ez 2011 Qualified wages. Federal tax form 1040 ez 2011   Qualified wages are wages (up to $6,000 per employee) you paid or incurred before January 1, 2009, for an eligible employee beginning on the date your trade or business first became inoperable at the employee's principal place of employment immediately before the applicable disaster, and ending on the date your trade or business resumed significant operations at that place. Federal tax form 1040 ez 2011 In addition, the wages must have been paid or incurred after the applicable disaster date. Federal tax form 1040 ez 2011    This includes wages paid even if the employee performed no services, performed services at a place of employment other than the principal place of employment, or performed services at the principal place of employment before significant operations resumed. Federal tax form 1040 ez 2011    Wages qualifying for the credit generally have the same meaning as wages subject to the Federal Unemployment Tax Act (FUTA). Federal tax form 1040 ez 2011 Qualified wages also include amounts you paid for medical or hospitalization expenses in connection with sickness or accident disability. Federal tax form 1040 ez 2011 Qualified wages for any employee must be reduced by the amount of any work supplementation payment you received under the Social Security Act. Federal tax form 1040 ez 2011   For agricultural employees, if the work performed by any employee during more than half of any pay period qualified under FUTA as agricultural labor, that employee's wages subject to social security and Medicare taxes are qualified wages. Federal tax form 1040 ez 2011 For a special rule that applies to railroad employees, see section 51(h)(1)(B). Federal tax form 1040 ez 2011   Qualified wages do not include the following. Federal tax form 1040 ez 2011 Wages paid to your dependent or a related individual. Federal tax form 1040 ez 2011 See section 51(i)(1). Federal tax form 1040 ez 2011 Wages paid to any employee during the period for which you received payment for the employee from a federally funded on-the-job training program. Federal tax form 1040 ez 2011 Wages for services of replacement workers during a strike or lockout. Federal tax form 1040 ez 2011   For more information, see Form 5884-A. Federal tax form 1040 ez 2011 Employer Housing Credit and Exclusion This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 An employer who conducted an active trade or business in a Midwestern disaster area can claim the employer housing credit. Federal tax form 1040 ez 2011 The credit is equal to 30% of the value (up to $600 per month per employee) of in-kind lodging furnished to a qualified employee (and the employee's spouse or dependents) from November 1, 2008, through May 1, 2009. Federal tax form 1040 ez 2011 The value of the lodging is excluded from the income of the qualified employee but is treated as wages for purposes of taxes imposed under the Federal Insurance Contributions Act (FICA) and the Federal Unemployment Tax Act (FUTA). Federal tax form 1040 ez 2011 Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). Federal tax form 1040 ez 2011 The employer must use Form 5884-A to claim the credit. Federal tax form 1040 ez 2011 A qualified employee is an individual who had a main home in a Midwestern disaster area on the applicable disaster date, and who performs substantially all employment services in a Midwestern disaster area for the employer furnishing the lodging. Federal tax form 1040 ez 2011 The employee cannot be your dependent or a related individual. Federal tax form 1040 ez 2011 See section 51(i)(1). Federal tax form 1040 ez 2011 For more information, see Form 5884-A. Federal tax form 1040 ez 2011 Demolition and Clean-up Costs This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 You can elect to deduct 50% of any qualified disaster recovery assistance clean-up costs for the tax year in which the costs are paid or incurred, instead of capitalizing them. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance clean-up costs are any amounts paid or incurred on or after the applicable disaster date, and before January 1, 2011, for the removal of debris from, or the demolition of structures on, real property located in a Midwestern disaster area that is: Held by you for use in a trade or business or for the production of income, or Inventory or other property held primarily for sale to customers in the ordinary course of your trade or business. Federal tax form 1040 ez 2011 Qualified disaster recovery assistance clean-up costs are limited to amounts necessary due to damage attributable to the severe storms, tornadoes, or flooding in the Midwestern disaster areas. Federal tax form 1040 ez 2011 Increase in Rehabilitation Tax Credit This benefit applies only to the counties in Table 1. Federal tax form 1040 ez 2011 The rehabilitation credit is increased for qualified rehabilitation expenditures paid or incurred on or after the applicable disaster date, and before January 1, 2012, on buildings located in a Midwestern disaster area as follows. Federal tax form 1040 ez 2011 For pre-1936 buildings (other than certified historic structures), the credit percentage is increased from 10% to 13%. Federal tax form 1040 ez 2011 For certified historic structures, the credit percentage is increased from 20% to 26%. Federal tax form 1040 ez 2011 For more information, see Form 3468, Investment Credit. Federal tax form 1040 ez 2011 Request for Copy or Transcript of Tax Return Request for copy of tax return. Federal tax form 1040 ez 2011   You can use Form 4506 to order a copy of your tax return. Federal tax form 1040 ez 2011 Generally, there is a $57 fee for requesting each copy of a tax return. Federal tax form 1040 ez 2011 If your main home, principal place of business, or tax records are located in a Midwestern disaster area, the fee will be waived if “Midwestern Disaster Area” is written in red across the top of the form when filed. Federal tax form 1040 ez 2011 Request for transcript of tax return. Federal tax form 1040 ez 2011   You can use Form 4506-T to order a free transcript of your tax return. Federal tax form 1040 ez 2011 A transcript provides most of the line entries from a tax return and usually contains the information that a third party requires. Federal tax form 1040 ez 2011 You can also call 1-800-829-1040 to order a transcript. Federal tax form 1040 ez 2011 How To Get Tax Help Special IRS assistance. Federal tax form 1040 ez 2011   The IRS is providing special help for those affected by the severe storms, tornadoes, or flooding, as well as survivors and personal representatives of the victims. Federal tax form 1040 ez 2011 We have set up a special toll-free number for people who may have trouble filing or paying their taxes because they were affected by recent federally declared disasters, or who have other tax issues related to the severe storms, tornadoes, or flooding. Federal tax form 1040 ez 2011 Call 1-866-562-5227 Monday through FridayIn English–7 a. Federal tax form 1040 ez 2011 m. Federal tax form 1040 ez 2011 to 10 p. Federal tax form 1040 ez 2011 m. Federal tax form 1040 ez 2011 local timeIn Spanish–8 a. Federal tax form 1040 ez 2011 m. Federal tax form 1040 ez 2011 to 9:30 p. Federal tax form 1040 ez 2011 m. Federal tax form 1040 ez 2011 local time   The IRS website at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov has notices and other tax relief information. Federal tax form 1040 ez 2011 Check it periodically for any new guidance. Federal tax form 1040 ez 2011 You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Federal tax form 1040 ez 2011 By selecting the method that is best for you, you will have quick and easy access to tax help. Federal tax form 1040 ez 2011 Contacting your Taxpayer Advocate. Federal tax form 1040 ez 2011   The Taxpayer Advocate Service (TAS) is an independent organization within the IRS whose employees assist taxpayers who are experiencing economic harm, who are seeking help in resolving tax problems that have not been resolved through normal channels, or who believe that an IRS system or procedure is not working as it should. Federal tax form 1040 ez 2011 Here are seven things every taxpayer should know about TAS: TAS is your voice at the IRS. Federal tax form 1040 ez 2011 Our service is free, confidential, and tailored to meet your needs. Federal tax form 1040 ez 2011 You may be eligible for TAS help if you have tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you believe an IRS procedure just isn't working as it should. Federal tax form 1040 ez 2011 TAS helps taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. Federal tax form 1040 ez 2011 This includes businesses as well as individuals. Federal tax form 1040 ez 2011 TAS employees know the IRS and how to navigate it. Federal tax form 1040 ez 2011 We will listen to your problem, help you understand what needs to be done to resolve it, and stay with you every step of the way until your problem is resolved. Federal tax form 1040 ez 2011 TAS has at least one local taxpayer advocate in every state, the District of Columbia, and Puerto Rico. Federal tax form 1040 ez 2011 You can call your local advocate, whose number is in your phone book, in Pub. Federal tax form 1040 ez 2011 1546, Taxpayer Advocate Service—Your Voice at the IRS, and on our website at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/advocate. Federal tax form 1040 ez 2011 You can also call our toll-free line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. Federal tax form 1040 ez 2011 You can learn about your rights and responsibilities as a taxpayer by visiting our online tax toolkit at www. Federal tax form 1040 ez 2011 taxtoolkit. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov. Federal tax form 1040 ez 2011 Low Income Taxpayer Clinics (LITCs). Federal tax form 1040 ez 2011   The Low Income Taxpayer Clinic program serves individuals who have a problem with the IRS and whose income is below a certain level. Federal tax form 1040 ez 2011 LITCs are independent from the IRS. Federal tax form 1040 ez 2011 Most LITCs can provide representation before the IRS or in court on audits, tax collection disputes, and other issues for free or a small fee. Federal tax form 1040 ez 2011 If an individual's native language is not English, some clinics can provide multilingual information about taxpayer rights and responsibilities. Federal tax form 1040 ez 2011 For more information, see Publication 4134, Low Income Taxpayer Clinic List. Federal tax form 1040 ez 2011 This publication is available at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov, by calling 1-800-TAX-FORM (1-800-829-3676), or at your local IRS office. Federal tax form 1040 ez 2011 Free tax services. Federal tax form 1040 ez 2011   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Federal tax form 1040 ez 2011 It contains lists of free tax information sources, including publications, services, and free tax education and assistance programs. Federal tax form 1040 ez 2011 It also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on your telephone. Federal tax form 1040 ez 2011   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. Federal tax form 1040 ez 2011 Free help with your return. Federal tax form 1040 ez 2011   Free help in preparing your return is available nationwide from IRS-trained volunteers. Federal tax form 1040 ez 2011 The Volunteer Income Tax Assistance (VITA) program is designed to help low-income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. Federal tax form 1040 ez 2011 Many VITA sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Federal tax form 1040 ez 2011 To find the nearest VITA or TCE site, call 1-800-829-1040. Federal tax form 1040 ez 2011   As part of the TCE program, AARP offers the Tax-Aide counseling program. Federal tax form 1040 ez 2011 To find the nearest AARP Tax-Aide site, call 1-888-227-7669 or visit AARP's website atwww. Federal tax form 1040 ez 2011 aarp. Federal tax form 1040 ez 2011 org/money/taxaide. Federal tax form 1040 ez 2011   For more information on these programs, go to www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov and enter keyword “VITA” in the upper right-hand corner. Federal tax form 1040 ez 2011 Internet. Federal tax form 1040 ez 2011 You can access the IRS website at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov 24 hours a day, 7 days a week to: E-file your return. Federal tax form 1040 ez 2011 Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Federal tax form 1040 ez 2011 Check the status of your 2009 refund. Federal tax form 1040 ez 2011 Go to www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov and click on Where's My Refund. Federal tax form 1040 ez 2011 Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Federal tax form 1040 ez 2011 If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Federal tax form 1040 ez 2011 Have your 2009 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Federal tax form 1040 ez 2011 Download forms, instructions, and publications. Federal tax form 1040 ez 2011 Order IRS products online. Federal tax form 1040 ez 2011 Research your tax questions online. Federal tax form 1040 ez 2011 Search publications online by topic or keyword. Federal tax form 1040 ez 2011 Use the online Internal Revenue Code, Regulations, or other official guidance. Federal tax form 1040 ez 2011 View Internal Revenue Bulletins (IRBs) published in the last few years. Federal tax form 1040 ez 2011 Figure your withholding allowances using the withholding calculator online at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/individuals. Federal tax form 1040 ez 2011 Determine if Form 6251 must be filed by using our Alternative Minimum Tax (AMT) Assistant. Federal tax form 1040 ez 2011 Sign up to receive local and national tax news by email. Federal tax form 1040 ez 2011 Get information on starting and operating a small business. Federal tax form 1040 ez 2011 Phone. Federal tax form 1040 ez 2011 Many services are available by phone. Federal tax form 1040 ez 2011 Ordering forms, instructions, and publications. Federal tax form 1040 ez 2011 Call 1-800-TAX FORM (1-800-829-3676) to order current-year forms, instructions, and publications, and prior-year forms and instructions. Federal tax form 1040 ez 2011 You should receive your order within 10 days. Federal tax form 1040 ez 2011 Asking tax questions. Federal tax form 1040 ez 2011 Call the IRS with your tax questions at 1-800-829-1040. Federal tax form 1040 ez 2011 Solving problems. Federal tax form 1040 ez 2011 You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Federal tax form 1040 ez 2011 An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Federal tax form 1040 ez 2011 Call your local Taxpayer Assistance Center for an appointment. Federal tax form 1040 ez 2011 To find the number, go to www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Federal tax form 1040 ez 2011 TTY/TDD equipment. Federal tax form 1040 ez 2011 If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Federal tax form 1040 ez 2011 TeleTax topics. Federal tax form 1040 ez 2011 Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. Federal tax form 1040 ez 2011 Refund information. Federal tax form 1040 ez 2011 To check the status of your 2009 refund, call 1-800-829-1954 during business hours or 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). Federal tax form 1040 ez 2011 Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Federal tax form 1040 ez 2011 If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Federal tax form 1040 ez 2011 Have your 2009 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Federal tax form 1040 ez 2011 Refunds are sent out weekly on Fridays. Federal tax form 1040 ez 2011 If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. Federal tax form 1040 ez 2011 Other refund information. Federal tax form 1040 ez 2011 To check the status of a prior year refund or amended return refund, call 1-800-829-1954. Federal tax form 1040 ez 2011 Evaluating the quality of our telephone services. Federal tax form 1040 ez 2011 To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Federal tax form 1040 ez 2011 One method is for a second IRS representative to listen in on or record random telephone calls. Federal tax form 1040 ez 2011 Another is to ask some callers to complete a short survey at the end of the call. Federal tax form 1040 ez 2011 Walk-in. Federal tax form 1040 ez 2011 Many products and services are available on a walk-in basis. Federal tax form 1040 ez 2011 Products. Federal tax form 1040 ez 2011 You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Federal tax form 1040 ez 2011 Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD or photocopy from reproducible proofs. Federal tax form 1040 ez 2011 Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Federal tax form 1040 ez 2011 Services. Federal tax form 1040 ez 2011 You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. Federal tax form 1040 ez 2011 An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Federal tax form 1040 ez 2011 If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. Federal tax form 1040 ez 2011 No appointment is necessary—just walk in. Federal tax form 1040 ez 2011 If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. Federal tax form 1040 ez 2011 A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. Federal tax form 1040 ez 2011 If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. Federal tax form 1040 ez 2011 All other issues will be handled without an appointment. Federal tax form 1040 ez 2011 To find the number of your local office, go to www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Federal tax form 1040 ez 2011 Mail. Federal tax form 1040 ez 2011 You can send your order for forms, instructions, and publications to the address below. Federal tax form 1040 ez 2011 You should receive a response within 10 days after your request is received. Federal tax form 1040 ez 2011 Internal Revenue Service1201 N. Federal tax form 1040 ez 2011 Mitsubishi MotorwayBloomington, IL 61705-6613 DVD for tax products. Federal tax form 1040 ez 2011 You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. Federal tax form 1040 ez 2011 Prior-year forms, instructions, and publications. Federal tax form 1040 ez 2011 Tax Map: an electronic research tool and finding aid. Federal tax form 1040 ez 2011 Tax law frequently asked questions. Federal tax form 1040 ez 2011 Tax Topics from the IRS telephone response system. Federal tax form 1040 ez 2011 Internal Revenue Code—Title 26 of the U. Federal tax form 1040 ez 2011 S. Federal tax form 1040 ez 2011 Code. Federal tax form 1040 ez 2011 Fill-in, print, and save features for most tax forms. Federal tax form 1040 ez 2011 Internal Revenue Bulletins. Federal tax form 1040 ez 2011 Toll-free and email technical support. Federal tax form 1040 ez 2011 Two releases during the year. Federal tax form 1040 ez 2011 – The first release will ship the beginning of January 2010. Federal tax form 1040 ez 2011 – The final release will ship the beginning of March 2010. Federal tax form 1040 ez 2011 Purchase the DVD from National Technical Information Service (NTIS) at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/cdorders for $30 (no handling fee) or call 1-877-233-6767 toll free to buy the DVD for $30 (plus a $6 handling fee). Federal tax form 1040 ez 2011 Prev  Up  Next   Home   More Online Publications
Español

U.S. Department of the Treasury

The Department of the Treasury manages Federal finances by collecting taxes and paying bills and by managing currency, government accounts and public debt. The Department of the Treasury also enforces finance and tax laws.

The Federal Tax Form 1040 Ez 2011

Federal tax form 1040 ez 2011 8. Federal tax form 1040 ez 2011   Distributions and Rollovers Table of Contents DistributionsMinimum Required Distributions No Special 10-Year Tax Option Transfer of Interest in 403(b) ContractAfter-tax contributions. Federal tax form 1040 ez 2011 Permissive service credit. Federal tax form 1040 ez 2011 Tax-Free RolloversHardship exception to rollover rules. Federal tax form 1040 ez 2011 Eligible retirement plans. Federal tax form 1040 ez 2011 Nonqualifying distributions. Federal tax form 1040 ez 2011 Second rollover. Federal tax form 1040 ez 2011 Gift Tax Distributions Permissible distributions. Federal tax form 1040 ez 2011   Generally, a distribution cannot be made from a 403(b) account until the employee: Reaches age 59½, Has a severance from employment, Dies, Becomes disabled, In the case of elective deferrals, encounters financial hardship, or Has a qualified reservist distribution. Federal tax form 1040 ez 2011 In most cases, the payments you receive or that are made available to you under your 403(b) account are taxable in full as ordinary income. Federal tax form 1040 ez 2011 In general, the same tax rules apply to distributions from 403(b) plans that apply to distributions from other retirement plans. Federal tax form 1040 ez 2011 These rules are explained in Publication 575. Federal tax form 1040 ez 2011 Publication 575 also discusses the additional tax on early distributions from retirement plans. Federal tax form 1040 ez 2011 Retired public safety officers. Federal tax form 1040 ez 2011   If you are an eligible retired public safety officer, distributions of up to $3,000, made directly from your 403(b) plan to pay accident, health, or long-term care insurance, are not included in your taxable income. Federal tax form 1040 ez 2011 The premiums can be for you, your spouse, or your dependents. Federal tax form 1040 ez 2011   A public safety officer is a law enforcement officer, fire fighter, chaplain, or member of a rescue squad or ambulance crew. Federal tax form 1040 ez 2011   For additional information, see Publication 575. Federal tax form 1040 ez 2011 Distribution for active reservist. Federal tax form 1040 ez 2011   The 10% penalty for early withdrawals will not apply to a qualified reservist distribution attributable to elective deferrals from a 403(b) plan. Federal tax form 1040 ez 2011 A qualified reservist distribution is a distribution that is made: To an individual who is a reservist or national guardsman and who was ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and During the period beginning on the date of the order or call to duty and ending at the close of the active duty period. Federal tax form 1040 ez 2011 Minimum Required Distributions You must receive all, or at least a certain minimum, of your interest accruing after 1986 in the 403(b) plan by April 1 of the calendar year following the later of the calendar year in which you become age 70½, or the calendar year in which you retire. Federal tax form 1040 ez 2011 Check with your employer, plan administrator, or provider to find out whether this rule also applies to pre-1987 accruals. Federal tax form 1040 ez 2011 If not, a minimum amount of these accruals must begin to be distributed by the later of the end of the calendar year in which you reach age 75 or April 1 of the calendar year following retirement. Federal tax form 1040 ez 2011 For each year thereafter, the minimum distribution must be made by the last day of the year. Federal tax form 1040 ez 2011 If you do not receive the required minimum distribution, you are subject to a nondeductible 50% excise tax on the difference between the required minimum distribution and the amount actually distributed. Federal tax form 1040 ez 2011 No Special 10-Year Tax Option A distribution from a 403(b) plan does not qualify as a lump-sum distribution. Federal tax form 1040 ez 2011 This means you cannot use the special 10-year tax option to calculate the taxable portion of a 403(b) distribution. Federal tax form 1040 ez 2011 For more information, see Publication 575. Federal tax form 1040 ez 2011 Transfer of Interest in 403(b) Contract Contract exchanges. Federal tax form 1040 ez 2011   If you transfer all or part of your interest from a 403(b) contract to another 403(b) contract (held in the same plan), the transfer is tax free, and is referred to as a contract exchange. Federal tax form 1040 ez 2011 This was previously known as a 90-24 transfer. Federal tax form 1040 ez 2011 A contract exchange is similar to a 90-24 transfer with one major difference. Federal tax form 1040 ez 2011 Previously, you were able to accomplish the transfer without your employer’s involvement. Federal tax form 1040 ez 2011 After September 24, 2007, all such transfers are accomplished through a contract exchange requiring your employer’s involvement. Federal tax form 1040 ez 2011 In addition, the plan must provide for the exchange and the transferred interest must be subject to the same or stricter distribution restrictions. Federal tax form 1040 ez 2011 Finally, your accumulated benefit after the exchange must be equal to what it was before the exchange. Federal tax form 1040 ez 2011   Transfers that do not satisfy this rule are plan distributions and are generally taxable as ordinary income. Federal tax form 1040 ez 2011 Plan-to-plan transfers. Federal tax form 1040 ez 2011   You may also transfer part or all of your interest from a 403(b) plan to another 403(b) plan if you are an employee of (or were formerly employed by) the employer of the plan to which you would like to transfer. Federal tax form 1040 ez 2011 Both the initial plan and the receiving plan must provide for transfers. Federal tax form 1040 ez 2011 Your accumulated benefit after the transfer must be at least equal to what it was before the transfer. Federal tax form 1040 ez 2011 The new plan’s restrictions on distributions must be the same or stricter than those of the original plan. Federal tax form 1040 ez 2011 Tax-free transfers for certain cash distributions. Federal tax form 1040 ez 2011   A tax-free transfer may also apply to a cash distribution of your 403(b) account from an insurance company that is subject to a rehabilitation, conservatorship, insolvency, or similar state proceeding. Federal tax form 1040 ez 2011 To receive tax-free treatment, you must do all of the following: Withdraw all the cash to which you are entitled in full settlement of your contract rights or, if less, the maximum permitted by the state. Federal tax form 1040 ez 2011 Reinvest the cash distribution in a single policy or contract issued by another insurance company or in a single custodial account subject to the same or stricter distribution restrictions as the original contract not later than 60 days after you receive the cash distribution. Federal tax form 1040 ez 2011 Assign all future distribution rights to the new contract or account for investment in that contract or account if you received an amount that is less than what you are entitled to because of state restrictions. Federal tax form 1040 ez 2011   In addition to the preceding requirements, you must provide the new insurer with a written statement containing all of the following information: The gross amount of cash distributed under the old contract. Federal tax form 1040 ez 2011 The amount of cash reinvested in the new contract. Federal tax form 1040 ez 2011 Your investment in the old contract on the date you receive your first cash distribution. Federal tax form 1040 ez 2011   Also, you must attach the following items to your timely filed income tax return in the year you receive the first distribution of cash. Federal tax form 1040 ez 2011 A copy of the statement you gave the new insurer. Federal tax form 1040 ez 2011 A statement that includes: The words ELECTION UNDER REV. Federal tax form 1040 ez 2011 PROC. Federal tax form 1040 ez 2011 92-44, The name of the company that issued the new contract, and The new policy number. Federal tax form 1040 ez 2011 Direct trustee-to-trustee transfer. Federal tax form 1040 ez 2011   If you make a direct trustee-to-trustee transfer, from your governmental 403(b) account to a defined benefit governmental plan, it may not be includible in gross income. Federal tax form 1040 ez 2011   The transfer amount is not includible in gross income if it is made to: Purchase permissive service credits, or Repay contributions and earnings that were previously refunded under a forfeiture of service credit under the plan, or under another plan maintained by a state or local government employer within the same state. Federal tax form 1040 ez 2011 After-tax contributions. Federal tax form 1040 ez 2011   For distributions beginning after December 31, 2006, after-tax contributions can be rolled over between a 403(b) plan and a defined benefit plan, IRA, or a defined contribution plan. Federal tax form 1040 ez 2011 If the rollover is to or from a 403(b) plan, it must occur through a direct trustee-to-trustee transfer. Federal tax form 1040 ez 2011 Permissive service credit. Federal tax form 1040 ez 2011   A permissive service credit is credit for a period of service recognized by a defined benefit governmental plan only if you voluntarily contribute to the plan an amount that does not exceed the amount necessary to fund the benefit attributable to the period of service and the amount contributed is in addition to the regular employee contribution, if any, under the plan. Federal tax form 1040 ez 2011   A permissive service credit may also include service credit for up to 5 years where there is no performance of service, or service credited to provide an increased benefit for service credit which a participant is receiving under the plan. Federal tax form 1040 ez 2011   Check with your plan administrator as to the type and extent of service that may be purchased by this transfer. Federal tax form 1040 ez 2011 Tax-Free Rollovers You can generally roll over tax free all or any part of a distribution from a 403(b) plan to a traditional IRA or a non-Roth eligible retirement plan, except for any nonqualifying distributions, described later. Federal tax form 1040 ez 2011 You may also roll over any part of a distribution from a 403(b) plan by converting it through a direct rollover, described below, to a Roth IRA. Federal tax form 1040 ez 2011 Conversion amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. Federal tax form 1040 ez 2011 See Publication 590 for more information about conversion into a Roth IRA. Federal tax form 1040 ez 2011 Note. Federal tax form 1040 ez 2011 A participant is required to roll over distribution amounts received within 60 days in order for the amount to be treated as nontaxable. Federal tax form 1040 ez 2011 Distribution amounts that are rolled over within the 60 days are not subject to the 10% early distribution penalty. Federal tax form 1040 ez 2011 Rollovers to and from 403(b) plans. Federal tax form 1040 ez 2011   You can generally roll over tax free all or any part of a distribution from an eligible retirement plan to a 403(b) plan. Federal tax form 1040 ez 2011 Beginning January 1, 2008, distributions from tax-qualified retirement plans and tax-sheltered annuities can be converted by making a direct rollover into a Roth IRA subject to the restrictions that currently apply to rollovers from a traditional IRA into a Roth IRA. Federal tax form 1040 ez 2011 Converted amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. Federal tax form 1040 ez 2011 See Publication 590 for more information on conversion into a Roth IRA. Federal tax form 1040 ez 2011   If a distribution includes both pre-tax contributions and after-tax contributions, the portion of the distribution that is rolled over is treated as consisting first of pre-tax amounts (contributions and earnings that would be includible in income if no rollover occurred). Federal tax form 1040 ez 2011 This means that if you roll over an amount that is at least as much as the pre-tax portion of the distribution, you do not have to include any of the distribution in income. Federal tax form 1040 ez 2011   For more information on rollovers and eligible retirement plans, see Publication 575. Federal tax form 1040 ez 2011 If you roll over money or other property from a 403(b) plan to an eligible retirement plan, see Publication 575 for information about possible effects on later distributions from the eligible retirement plan. Federal tax form 1040 ez 2011 Hardship exception to rollover rules. Federal tax form 1040 ez 2011   The IRS may waive the 60-day rollover period if the failure to waive such requirement would be against equity or good conscience, including cases of casualty, disaster, or other events beyond the reasonable control of an individual. Federal tax form 1040 ez 2011   To obtain a hardship exception, you must apply to the IRS for a waiver of the 60-day rollover requirement. Federal tax form 1040 ez 2011 You apply for the waiver by following the general instructions used in requesting a letter ruling. Federal tax form 1040 ez 2011 These instructions are stated in Revenue Procedure 2013-4, 2013-1 I. Federal tax form 1040 ez 2011 R. Federal tax form 1040 ez 2011 B. Federal tax form 1040 ez 2011 126 available at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/irb/2013-01_IRB/ar09. Federal tax form 1040 ez 2011 html, or see the latest annual update. Federal tax form 1040 ez 2011 You must also pay a user fee with the application. Federal tax form 1040 ez 2011 The user fee for a rollover that is less than $50,000 is $500. Federal tax form 1040 ez 2011 For rollovers that are $50,000 or more, see Revenue Procedure 2013-8, 2013-1 I. Federal tax form 1040 ez 2011 R. Federal tax form 1040 ez 2011 B. Federal tax form 1040 ez 2011 237 available at www. Federal tax form 1040 ez 2011 irs. Federal tax form 1040 ez 2011 gov/irb/2013-01_IRB/ar13. Federal tax form 1040 ez 2011 html, or see the latest annual update. Federal tax form 1040 ez 2011   In determining whether to grant a waiver, the IRS will consider all relevant facts and circumstances, including: Whether errors were made by the financial institution; Whether you were unable to complete the rollover due to death, disability, hospitalization, incarceration, restrictions imposed by a foreign country, or postal error; Whether you used the amount distributed (for example, in the case of payment by check, whether you cashed the check); and How much time has passed since the date of distribution. Federal tax form 1040 ez 2011   For additional information on rollovers, see Publication 590. Federal tax form 1040 ez 2011 Eligible retirement plans. Federal tax form 1040 ez 2011   The following are considered eligible retirement plans. Federal tax form 1040 ez 2011 Individual retirement arrangements. Federal tax form 1040 ez 2011 Roth IRA. Federal tax form 1040 ez 2011 403(b) plans. Federal tax form 1040 ez 2011 Government eligible 457 plans. Federal tax form 1040 ez 2011 Qualified retirement plans. Federal tax form 1040 ez 2011  If the distribution is from a designated Roth account, then the only eligible retirement plan is another designated Roth account or a Roth IRA. Federal tax form 1040 ez 2011 Nonqualifying distributions. Federal tax form 1040 ez 2011   You cannot roll over tax free: Minimum required distributions (generally required to begin at age 70½), Substantially equal payments over your life or life expectancy, Substantially equal payments over the joint lives or life expectancies of your beneficiary and you, Substantially equal payments for a period of 10 years or more, Hardship distributions, or Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or excess annual additions and any allocable gains. Federal tax form 1040 ez 2011 Rollover of nontaxable amounts. Federal tax form 1040 ez 2011    You may be able to roll over the nontaxable part of a distribution (such as your after-tax contributions) made to another eligible retirement plan, traditional IRA, or Roth IRA. Federal tax form 1040 ez 2011 The transfer must be made either through a direct rollover to an eligible plan that separately accounts for the taxable and nontaxable parts of the rollover or through a rollover to a traditional IRA or Roth IRA. Federal tax form 1040 ez 2011   If you roll over only part of a distribution that includes both taxable and nontaxable amounts, the amount you roll over is treated as coming first from the taxable part of the distribution. Federal tax form 1040 ez 2011 Direct rollovers of 403(b) plan distributions. Federal tax form 1040 ez 2011   You have the option of having your 403(b) plan make the rollover directly to a traditional IRA, Roth IRA, or new plan. Federal tax form 1040 ez 2011 Before you receive a distribution, your plan will give you information on this. Federal tax form 1040 ez 2011 It is generally to your advantage to choose this option because your plan will not withhold tax on the distribution if you choose it. Federal tax form 1040 ez 2011 Distribution received by you. Federal tax form 1040 ez 2011   If you receive a distribution that qualifies to be rolled over, you can roll over all or any part of the distribution. Federal tax form 1040 ez 2011 Generally, you will receive only 80% of the distribution because 20% must be withheld. Federal tax form 1040 ez 2011 If you roll over only the 80% you receive, you must pay tax on the 20% you did not roll over. Federal tax form 1040 ez 2011 You can replace the 20% that was withheld with other money within the 60-day period to make a 100% rollover. Federal tax form 1040 ez 2011 Voluntary deductible contributions. Federal tax form 1040 ez 2011   For tax years 1982 through 1986, employees could make deductible contributions to a 403(b) plan under the individual retirement arrangement (IRA) rules instead of deducting contributions to a traditional IRA. Federal tax form 1040 ez 2011   If you made voluntary deductible contributions to a 403(b) plan under these traditional IRA rules, the distribution of all or part of the accumulated deductible contributions may be rolled over if it otherwise qualifies as a distribution you can roll over. Federal tax form 1040 ez 2011 Accumulated deductible contributions are the deductible contributions: Plus Income allocable to the contributions, Gain allocable to the contributions, and Minus Expenses and losses allocable to the contributions, and Distributions from the contributions, income, or gain. Federal tax form 1040 ez 2011 Excess employer contributions. Federal tax form 1040 ez 2011   The portion of a distribution from a 403(b) plan transferred to a traditional IRA that was previously included in income as excess employer contributions (discussed earlier) is not an eligible rollover distribution. Federal tax form 1040 ez 2011   Its transfer does not affect the rollover treatment of the eligible portion of the transferred amounts. Federal tax form 1040 ez 2011 However, the ineligible portion is subject to the traditional IRA contribution limits and may create an excess IRA contribution subject to a 6% excise tax (see chapter 1 of Publication 590). Federal tax form 1040 ez 2011 Qualified domestic relations order. Federal tax form 1040 ez 2011   You may be able to roll over tax free all or any part of an eligible rollover distribution from a 403(b) plan that you receive under a qualified domestic relations order (QDRO). Federal tax form 1040 ez 2011 If you receive the interest in the 403(b) plan as an employee's spouse or former spouse under a QDRO, all of the rollover rules apply to you as if you were the employee. Federal tax form 1040 ez 2011 You can roll over your interest in the plan to a traditional IRA or another 403(b) plan. Federal tax form 1040 ez 2011 For more information on the treatment of an interest received under a QDRO, see Publication 575. Federal tax form 1040 ez 2011 Spouses of deceased employees. Federal tax form 1040 ez 2011   If you are the spouse of a deceased employee, you can roll over the qualifying distribution attributable to the employee. Federal tax form 1040 ez 2011 You can make the rollover to any eligible retirement plan. Federal tax form 1040 ez 2011   After you roll money and other property over from a 403(b) plan to an eligible retirement plan, and you take a distribution from that plan, you will not be eligible to receive the capital gain treatment or the special averaging treatment for the distribution. Federal tax form 1040 ez 2011 Second rollover. Federal tax form 1040 ez 2011   If you roll over a qualifying distribution to a traditional IRA, you can, if certain conditions are satisfied, later roll the distribution into another 403(b) plan. Federal tax form 1040 ez 2011 For more information, see IRA as a holding account (conduit IRA) for rollovers to other eligible plans in chapter 1 of Publication 590. Federal tax form 1040 ez 2011 Nonspouse beneficiary. Federal tax form 1040 ez 2011   A nonspouse beneficiary may make a direct rollover of a distribution from a 403(b) plan of a deceased participant if the rollover is a direct transfer to an inherited IRA established to receive the distribution. Federal tax form 1040 ez 2011 If the rollover is a direct trustee-to-trustee transfer to an IRA established to receive the distribution: The transfer will be treated as an eligible rollover distribution. Federal tax form 1040 ez 2011 The IRA will be considered an inherited account. Federal tax form 1040 ez 2011 The required minimum distribution rules that apply in instances where the participant dies before the entire interest is distributed will apply to the transferred IRA. Federal tax form 1040 ez 2011    For more information on IRAs, see Publication 590. Federal tax form 1040 ez 2011 Frozen deposits. Federal tax form 1040 ez 2011   The 60-day period usually allowed for completing a rollover is extended for any time that the amount distributed is a frozen deposit in a financial institution. Federal tax form 1040 ez 2011 The 60-day period cannot end earlier than 10 days after the deposit ceases to be a frozen deposit. Federal tax form 1040 ez 2011   A frozen deposit is any deposit that on any day during the 60-day period cannot be withdrawn because: The financial institution is bankrupt or insolvent, or The state where the institution is located has placed limits on withdrawals because one or more banks in the state are (or are about to be) bankrupt or insolvent. Federal tax form 1040 ez 2011 Gift Tax If, by choosing or not choosing an election, or option, you provide an annuity for your beneficiary at or after your death, you may have made a taxable gift equal to the value of the annuity. Federal tax form 1040 ez 2011 Joint and survivor annuity. Federal tax form 1040 ez 2011   If the gift is an interest in a joint and survivor annuity where only you and your spouse have the right to receive payments, the gift will generally be treated as qualifying for the unlimited marital deduction. Federal tax form 1040 ez 2011 More information. Federal tax form 1040 ez 2011   For information on the gift tax, see Publication 559, Survivors, Executors, and Administrators. Federal tax form 1040 ez 2011 Prev  Up  Next   Home   More Online Publications