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File tax amendment 6. File tax amendment   Ingresos de Propinas Table of Contents Introduction Useful Items - You may want to see: Cómo Mantener un Registro Diario de PropinasRegistro electrónico de propinas. File tax amendment Cómo Declarar las Propinas a su EmpleadorInforme electrónico de propinas. File tax amendment Declaración final. File tax amendment Cómo se Declaran las Propinas en la Declaración de Impuestos Asignación de Propinas Introduction Este capítulo es para empleados que reciben propinas. File tax amendment Todas las propinas que usted reciba son ingresos y están sujetas al impuesto federal sobre los ingresos. File tax amendment Tiene que incluir en el ingreso bruto todas las propinas que reciba directamente, propinas recibidas por medio de cargos a tarjetas de crédito o débito que le son entregadas por su empleador y su participación de todas las propinas recibidas de un fondo común u otro acuerdo de distribución de propinas. File tax amendment El valor de las propinas que no son pagadas en efectivo, tales como boletos, pases u otros artículos de valor también son ingresos y están sujetos al impuesto. File tax amendment La declaración correcta de los ingresos de propinas no es difícil. File tax amendment Usted tiene que completar tres pasos: Mantener un registro diario de propinas. File tax amendment Declarar sus propinas a su empleador. File tax amendment Declarar todas sus propinas en su declaración de impuestos. File tax amendment  Este capítulo le explicará estos tres pasos y le ayudará a determinar cómo completar su declaración de impuestos si no ha realizado los dos primeros pasos. File tax amendment Este capítulo también le mostrará cómo tratar las propinas asignadas. File tax amendment Para información sobre acuerdos y programas especiales relacionados con las propinas, vea la Publicación 531, en inglés. File tax amendment Useful Items - You may want to see: Publicación 531 Reporting Tip Income (Cómo declarar los ingresos de propinas), en inglés 1244-PR Registro Diario de Propinas Recibidas por el(la) Empleado(a) e Informe al Patrono, en español 1244 Employee's Daily Record of Tips and Report to Employer (Registro Diario de Propinas Recibidas por el(la) Empleado(a) e Informe al Empleador), en inglés Formularios (e Instrucciones) 4137 Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y Medicare sobre el ingreso de propinas no declaradas), en inglés 4070-PR Informe al Patrono de Propinas Recibidas por el(la) Empleado(a), disponible en español 4070 Employee's Report of Tips to Employer (Informe al Empleador de Propinas Recibidas por el(la) Empleado(a)), en inglés Cómo Mantener un Registro Diario de Propinas ¿Por qué mantener un registro diario de propinas?   Usted tiene que mantener un registro diario de propinas para que pueda: Declarar sus propinas correctamente a su empleador, Declarar sus propinas correctamente en su declaración de impuestos y Comprobar sus ingresos de propinas si se cuestiona su declaración. File tax amendment Cómo mantener un registro diario de propinas. File tax amendment   Hay dos maneras de mantener un registro diario de propinas. File tax amendment Puede optar por: Anotar la información sobre sus propinas en un diario de propinas o Mantener copias de documentos que comprueben sus propinas, tales como cuentas de restaurantes y recibos de cargos hechos a tarjetas de crédito o de débito. File tax amendment Usted debe mantener su registro diario de propinas junto con su documentación tributaria u otra documentación personal. File tax amendment Tiene que guardar su documentación por el tiempo en que sea importante para la aplicación de la ley tributaria federal. File tax amendment Para información sobre cuánto tiempo debe guardar esta documentación, vea el tema titulado Cuánto Tiempo Debe Mantener Los Documentos , en el capítulo 1. File tax amendment    Si mantiene un registro de propinas, puede utilizar el Formulario 4070A-PR, Registro Diario de Propinas del(la) Empleado(a) (o el Formulario 4070-A, en inglés). File tax amendment Para obtener el Formulario 4070A-PR (o el Formulario 4070-A), pídale al IRS o a su empleador la Publicación 1244-PR (o la Publicación 1244, en inglés). File tax amendment Asimismo, la Publicación 1244-PR está disponible en el sitio web www. File tax amendment irs. File tax amendment gov/pub/irs-pdf/p1244pr. File tax amendment pdf. File tax amendment La Publicación 1244-PR (o la Publicación 1244, en inglés) contiene suficientes copias del Formulario 4070A-PR (o del Formulario 4070-A, en inglés) para un año. File tax amendment Cada día, anote la información solicitada en el formulario. File tax amendment   Además de la información solicitada en el Formulario 4070A-PR, también es necesario que mantenga un registro u otra documentación de la fecha y el valor de toda propina que reciba que no sea en efectivo, tales como boletos, pases u otros artículos de valor. File tax amendment Aunque no declara estas propinas a su empleador, tiene que declararlas en su declaración de impuestos. File tax amendment   Si no utiliza el Formulario 4070A-PR (o el Formulario 4070-A, en inglés), comience su registro escribiendo su nombre, el nombre de su empleador y el nombre del negocio o establecimiento donde trabaja si es distinto al nombre de su empleador. File tax amendment Luego, cada día que trabaje, anote la fecha y la siguiente información: Propinas en efectivo que obtiene directamente de los clientes o de otros empleados. File tax amendment Propinas de los clientes que pagan con tarjeta de crédito y de débito que su empleador le paga. File tax amendment El valor de toda propina que haya recibido que no sea pagada en efectivo, tales como boletos, pases y otros artículos de valor. File tax amendment La cantidad de propinas que usted le pagó a otros empleados a través de un fondo común u otro acuerdo de distribución de propinas y los nombres de los empleados a los cuales les pagó las propinas. File tax amendment Registro electrónico de propinas. File tax amendment   Usted puede utilizar un sistema electrónico provisto por su empleador para mantener un registro de propinas diarias. File tax amendment En tal caso, tiene que recibir y guardar una copia en papel de este registro. File tax amendment Cargos por servicios. File tax amendment   No anote en su registro de propinas la cantidad de ningún cargo por servicios que su empleador añada a la cuenta de un cliente y que luego le pague a usted y que el empleador trate como salario de usted. File tax amendment Los cargos de este tipo son parte de su salario, no son propinas. File tax amendment Vea los ejemplos que se presentan a continuación. File tax amendment Ejemplo 1. File tax amendment El restaurante Buena Comida añade un cargo del 18% a la cuenta de grupos de 6 o más clientes. File tax amendment Juanita forma parte de un grupo de 8 personas. File tax amendment Además del costo de la comida y bebidas que se sirvieron a todos en el grupo de Juanita, la cuenta incluye un monto igual al 18% del costo de las mismas, el cual aparece en la línea para anotar propinas. File tax amendment Dicho monto se incluye en el total de la cuenta. File tax amendment Debido a que Juanita no tenía un derecho ilimitado de determinar el monto en la línea para anotar propinas, el cargo del 18% se considera un cargo por servicios. File tax amendment No anote el cargo del 18% en su registro de propinas. File tax amendment Los cargos por servicios que se le paguen son considerados salarios y no propinas. File tax amendment Ejemplo 2. File tax amendment El restaurante Buena Comida también incluye ejemplos de cálculos para las cantidades de propinas en la parte inferior de la cuenta para la comida y las bebidas servidas a los clientes. File tax amendment En la parte inferior de la cuenta de David, debajo de la línea para la firma, se incluye una línea en blanco para anotar propinas, además de ejemplos de propinas calculadas en base al 15%, 18% y 20% de los costos de la comida y bebidas que le sirvieron. File tax amendment Debido a que David tenía libertad para anotar cualquier cantidad en la línea para anotar propinas, o dejarla en blanco, cualquier cantidad que David anote se considera propina. File tax amendment Cerciórese de incluir esta cantidad en su registro de propinas. File tax amendment Cómo Declarar las Propinas a su Empleador ¿Por qué tiene que declarar sus propinas a su empleador?   Tiene que declarar sus propinas a su empleador para que: Éste pueda retenerle impuesto federal sobre el ingreso, impuestos del Seguro Social, impuestos de Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria, Éste pueda declarar la cantidad correcta de sus ganancias a la Administración del Seguro Social o a la Junta de la Jubilación Ferroviaria (lo cual afecta sus beneficios cuando se jubile o si queda incapacitado, o los beneficios de su familia cuando usted fallezca) y Usted pueda evitar la Multa por no declarar las propinas a su empleador (tema explicado más adelante). File tax amendment Propinas que tiene que declarar a su empleador. File tax amendment   Declárele a su empleador solamente las propinas que reciba en efectivo, en cheques, tarjetas de débito y de crédito. File tax amendment   Si el total de las propinas que reciba de un trabajo en un mes determinado es menos de $20, no declare las propinas de ese mes a ese empleador. File tax amendment   Si recibe propinas conforme a un acuerdo para compartir propinas equitativamente, declare sólo las propinas que reciba y retenga. File tax amendment No declare a su empleador ninguna parte de las propinas que reciba para luego entregárselas a otros empleados. File tax amendment Sin embargo, tiene que declarar las propinas que reciba de otros empleados. File tax amendment    No declare a su empleador el valor de las propinas que no reciba en efectivo, tales como boletos o pases. File tax amendment No se pagan impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria sobre estas propinas. File tax amendment Cómo se declaran las propinas. File tax amendment    Si su empleador no le proporciona otro medio para declarar las propinas, puede usar el Formulario 4070-PR, en español (o el Formulario 4070, en inglés). File tax amendment Escriba la información requerida en el formulario, incluya su firma y la fecha y entrégueselo a su empleador. File tax amendment Si desea obtener copias del formulario para un año completo, comuníquese con el IRS o pídale a su empleador la Publicación 1244-PR (o la Publicación 1244, en inglés). File tax amendment   Si no usa el Formulario 4070-PR (o el Formulario 4070, en inglés), entréguele a su empleador un informe con la información siguiente: Su nombre, dirección y número de Seguro Social. File tax amendment El nombre de su empleador, la dirección y el nombre del establecimiento (si es diferente al nombre del empleador). File tax amendment El mes (o las fechas de cualquier período más corto) en el cual usted recibió propinas. File tax amendment El total de propinas que se tienen que declarar para ese período. File tax amendment Usted tiene que firmar y fechar el informe. File tax amendment Cerciórese de guardar una copia junto con sus documentos tributarios u otros documentos personales. File tax amendment   Su empleador puede requerirle que declare sus propinas más de una vez al mes. File tax amendment Sin embargo, el informe no puede abarcar un período mayor de un mes natural. File tax amendment Informe electrónico de propinas. File tax amendment   Su empleador puede exigir que facilite su informe de propinas por medios electrónicos. File tax amendment Cuándo debe declarar las propinas. File tax amendment   Entregue a su empleador el informe correspondiente a cada mes, a más tardar el día 10 del mes siguiente. File tax amendment Si el día 10 cae en sábado, domingo o día feriado legal, entonces entréguele el informe a su empleador el próximo día siempre que no sea sábado, domingo o día feriado legal. File tax amendment Ejemplo. File tax amendment Tiene que declararle a su empleador la cantidad de propinas que recibió en septiembre del año 2014 a más tardar el día 10 de octubre de 2014. File tax amendment Declaración final. File tax amendment   Si deja de trabajar durante el mes, puede declarar las propinas recibidas cuando termine su empleo. File tax amendment Multa por no declarar las propinas. File tax amendment   Si no le declara a su empleador las propinas que recibió, tal como se requiere, puede estar sujeto a que se le imponga una multa equivalente al 50% de los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria que adeude sobre las propinas que no declaró. File tax amendment (Para información sobre estos impuestos, vea Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos, más adelante). File tax amendment La cantidad de la multa que se impone es adicional a los impuestos que adeude. File tax amendment   Puede evitar que esta multa le sea impuesta si puede demostrar que existe causa razonable por la cual no le declaró las propinas a su empleador. File tax amendment Para hacerlo, adjunte un documento escrito a su declaración de impuestos explicando la razón por la cual no declaró la cantidad de propinas que recibió. File tax amendment Entrega de dinero al empleador para el pago de los impuestos. File tax amendment   Es posible que lo que gana normalmente no sea suficiente para que su empleador le retenga todos los impuestos que adeude sobre su salario normal más las propinas que recibe. File tax amendment Si esto ocurre, puede entregarle dinero a su empleador hasta el cierre del año natural para pagar el resto de los impuestos. File tax amendment   Si no le entrega dinero suficiente a su empleador, el mismo aplicará su salario normal y todo dinero que usted le entregue para los impuestos, en el orden siguiente: Todos los impuestos sobre su salario normal. File tax amendment Los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria sobre las propinas que declaró. File tax amendment Los impuestos federales, estatales y locales sobre los ingresos sobre las propinas que declaró. File tax amendment    Su empleador puede descontar de su próximo salario todo impuesto que quede pendiente. File tax amendment Si al final del año aún no se le han retenido suficientes impuestos, usted puede estar sujeto a una multa por pago insuficiente de impuestos estimados. File tax amendment Vea la Publicación 505, Tax Withholding and Estimated Tax (Retención de impuestos e impuesto estimado), en inglés, para más información. File tax amendment    Impuestos no recaudados. File tax amendment Usted tiene que informar en su declaración de impuestos todo impuesto del Seguro Social y Medicare o impuestos de la jubilación ferroviaria que no se recaudaron al final del año 2013. File tax amendment Estos impuestos no recaudados aparecerán en su Formulario W-2 del año 2013. File tax amendment Vea el tema titulado Cómo se declaran los impuestos no recaudados del Seguro Social, Medicare o impuesto de la jubilación ferroviaria sobre propinas declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos, a continuación. File tax amendment Cómo se Declaran las Propinas en la Declaración de Impuestos Cómo se declaran las propinas. File tax amendment    Declare las propinas que recibió junto con su salario en la línea 7 del Formulario 1040, la línea 7 del Formulario 1040A o en la línea 1 del Formulario 1040EZ. File tax amendment Qué propinas se tienen que declarar. File tax amendment   Usted tiene que informar en su declaración de impuestos todas las propinas que recibió en 2013. File tax amendment Incluya las que recibió en efectivo y las que no fueron en efectivo. File tax amendment Toda propina que usted haya declarado en 2013 a su empleador está incluida en los salarios que aparecen en el recuadro 1 de su Formulario W-2. File tax amendment Sume a la cantidad del recuadro 1 solamente las propinas que usted no le declaró a su empleador. File tax amendment    Si recibió $20 o más en propinas en efectivo o cargadas a tarjetas de crédito o débito en un mes y no las declaró a su empleador, vea más adelante el tema titulado Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador . File tax amendment    Si usted no llevó un registro diario de las propinas que recibió, tal como se requiere, y aparece una cantidad en el recuadro 8 del Formulario W-2, vea más adelante la sección titulada Asignación de Propinas . File tax amendment   Si usted llevó un registro diario y declaró a su empleador todas las propinas que recibió, tal como se requiere conforme a las reglas explicadas anteriormente, añada a la cantidad que aparece en el recuadro 1 de su Formulario W-2 las siguientes propinas: Las propinas que recibió tanto en efectivo como cargadas a tarjetas de crédito o débito que fueron menos de $20 en un mes cualquiera. File tax amendment El valor de las propinas que no recibió en efectivo, tales como boletos, pases u otros artículos de valor. File tax amendment Ejemplo. File tax amendment Mariano Almendares comenzó a trabajar en el Restaurante Océano Azul (su único empleador en el año 2013) el día 30 de junio y recibió $10,000 en salarios durante el año. File tax amendment Mariano llevó un registro diario de las propinas que recibió durante el año, el cual muestra que en junio recibió $18 en propinas y en el resto del año recibió $7,000 en propinas. File tax amendment Al Sr. File tax amendment Almendares no se le requirió declararle a su empleador las propinas que recibió en junio, pero sí le declaró todas las propinas que recibió durante el resto del año, tal como se requiere. File tax amendment El Formulario W-2 que el Sr. File tax amendment Almendares recibió del Restaurante Océano Azul muestra $17,000 ($10,000 de salario más $7,000 de propinas declaradas) en el recuadro 1. File tax amendment El Sr. File tax amendment Almendares añade a esa cantidad los $18 de propinas que no le declaró al empleador y declara $17,018 como salario en su declaración de impuestos. File tax amendment Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador. File tax amendment    Si en un mes recibió $20 o más en propinas en efectivo o cargadas a tarjetas de crédito o débito en algún empleo y no declaró todas esas propinas a su empleador, tiene que declarar como impuesto adicional los impuestos del Seguro Social, Medicare e Impuesto Adicional del Medicare sobre las propinas que no declaró a su empleador. File tax amendment Para declarar estos impuestos, tiene que presentar una declaración aunque de otro modo no tuviera que presentarla. File tax amendment Para hacerlo, tiene que usar el Formulario 1040. File tax amendment (No puede presentar el Formulario 1040EZ ni el Formulario 1040A). File tax amendment    Use el Formulario 4137, Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y de Medicare sobre el ingreso de propinas no declaradas), en inglés, para calcular los impuestos al Seguro Social y al Medicare. File tax amendment Anote el impuesto en su declaración como se indica y adjunte el Formulario 4137 debidamente completado a la misma. File tax amendment Use el Formulario 8959, en inglés, para calcular el Impuesto Adicional del Medicare. File tax amendment    Si usted está sujeto a la Railroad Retirement Tax Act (Ley Tributaria para la Jubilación Ferroviaria), no puede utilizar el Formulario 4137 para pagar el impuesto para la jubilación ferroviaria sobre propinas no declaradas. File tax amendment Para obtener crédito para la jubilación ferroviaria, tiene que declarar sus propinas a su empleador. File tax amendment Cómo se declaran los impuestos no recaudados del Seguro Social, Medicare o impuesto de la jubilación ferroviaria sobre propinas declaradas a su empleador. File tax amendment   Usted podría tener impuestos sin recaudar si su salario normal no es suficiente para que su empleador retenga todos los impuestos adeudados y si no le dio a su empleador dinero suficiente para pagar el resto de los impuestos. File tax amendment Para más información, vea Entrega de dinero al empleador para el pago de los impuestos , bajo Cómo Declarar las Propinas a su Empleador, anteriormente. File tax amendment   Si su empleador no pudo recaudar todos los impuestos al Seguro Social y al Medicare o impuesto de la jubilación ferroviaria que usted adeuda sobre propinas declaradas para 2013, los impuestos por recaudar se mostrarán en el recuadro 12 del Formulario W-2 (códigos A y B). File tax amendment Tiene que declarar estas cantidades como impuesto adicional en su declaración. File tax amendment A diferencia de la parte no recaudada del impuesto regular al Medicare (1. File tax amendment 45%), el Impuesto Adicional del Medicare no recaudado no se declara en el recuadro 12 del Formulario W-2 con el código B. File tax amendment    Para declarar estos impuestos no recaudados, tiene que presentar una declaración aunque no tuviera que presentarla de otro modo. File tax amendment Tiene que declarar estos impuestos en la línea 60 del Formulario 1040. File tax amendment Vea las instrucciones para la línea 60 del Formulario 1040, disponibles en inglés. File tax amendment (No puede presentar el Formulario 1040EZ ni el Formulario 1040A). File tax amendment Asignación de Propinas Si su empleador le asignó propinas, las mismas aparecen por separado en el recuadro 8 de su Formulario W-2. File tax amendment Estas propinas no están incluidas en el recuadro 1 con sus salarios y propinas declaradas. File tax amendment Si el recuadro 8 está en blanco, lo que se explica en esta sección no es aplicable en su caso. File tax amendment ¿Qué son propinas asignadas?   Éstas son propinas que su empleador le asignó, además de las que usted le declaró para el año. File tax amendment Su empleador habrá hecho esto únicamente si: Usted trabajó en un establecimiento (restaurante, bar o negocio similar) que tiene que asignar las propinas a los empleados y La cantidad de propinas que declaró a su empleador fue menos de su parte del 8% de las ventas de comidas y bebidas del establecimiento donde usted trabajó. File tax amendment De las propinas asignadas, no se retienen impuestos sobre los ingresos, Seguro Social, Medicare, Impuesto Adicional del Medicare ni impuestos de la jubilación ferroviaria. File tax amendment ¿Cómo se calcula su asignación de propinas?   Las propinas que se le asignan a usted son su parte de una cantidad calculada restando las propinas declaradas de todos los empleados del 8% (u otra tasa más baja aprobada) de las ventas de comida y bebida (que no sean ventas de comida para llevar por los clientes o ventas con un cargo por servicio del 10% o más). File tax amendment Su parte de esa cantidad fue calculada utilizando un método provisto por un acuerdo laboral entre empleador y empleado o por un método provisto por los reglamentos del IRS basado en las ventas hechas o las horas trabajadas por los empleados. File tax amendment Para más información sobre el método de asignación exacto utilizado, consulte a su empleador. File tax amendment ¿Tiene que incluir en la declaración sus propinas asignadas?   Tiene que incluir en la declaración de impuestos todas las propinas que recibió en 2013, incluyendo las propinas pagadas en efectivo como las no pagadas en efectivo. File tax amendment Todas las propinas que usted haya declarado en 2013 a su empleador están incluidas en los salarios que aparecen en el recuadro 1 de su Formulario W-2. File tax amendment Sume a la cantidad del recuadro 1 solamente las propinas que usted no le declaró a su empleador. File tax amendment Esto tiene que incluir toda propina asignada mostrada en el recuadro 8 de su(s) Formulario(s) W-2, a menos que tenga registros confiables que muestren que recibió menos propinas en el año que las cifras asignadas. File tax amendment   Vea los temas titulados Qué propinas se tienen que declarar , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos y Cómo Mantener un Registro Diario de Propinas , anteriormente. File tax amendment Cómo declarar las propinas asignadas. File tax amendment   Declare la cantidad en el recuadro 1 y las propinas asignadas en el recuadro 8 de su(s) Formulario(s) W-2 como salario en la línea 7 del Formulario 1040, en la línea 8 del Formulario 1040NR o en la línea 3 del Formulario 1040NR-EZ. File tax amendment (No puede presentar el Formulario 1040A ni el Formulario 1040EZ cuando se tienen propinas asignadas). File tax amendment    Debido a que los impuestos del Seguro Social, Medicare o Impuesto Adicional del Medicare no fueron retenidos de las propinas asignadas, tiene que declararlos como impuestos adicionales en su declaración. File tax amendment Complete el Formulario 4137 e incluya las propinas asignadas en la línea 1 del formulario. File tax amendment Vea Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos. File tax amendment Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Office of the Attorney General

Website: Office of the Attorney General

Address: Office of the Attorney General
Consumer Protection Unit
123 State Capitol
200 W. 24th St.
Cheyenne, WY 82002

Phone Number: 307-777-7841

TTY: 307-777-5351

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Audit

Website: Department of Audit

Address: Department of Audit
Division of Banking
122 W. 25th St.
Herschler Building, 3rd Floor, East
Cheyenne, WY 82002

Phone Number: 307-777-7797

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Insurance

Website: Department of Insurance

Address: Department of Insurance
Consumer Affairs Section
106 E. 6th Ave.
Cheyenne, WY 82002

Phone Number: 307-777-7401

Toll-free: 1-800-438-5768 (WY)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Office of the Secretary of State

Website: Office of the Secretary of State

Address: Office of the Secretary of State
Compliance Division
State Capitol Building
200 W. 24th St.
Cheyenne, WY 82002-0020

Phone Number: 307-777-7370

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Service Commission

Website: Public Service Commission

Address: Public Service Commission
2515 Warren Ave., Suite 300
Cheyenne, WY 82002

Phone Number: 307-777-7427

Toll-free: 1-888-570-9905 (WY)

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The File Tax Amendment

File tax amendment Publication 908 - Main Content Table of Contents Bankruptcy Code Tax Compliance RequirementsTax Returns Due for Periods Ending Before the Bankruptcy Filing in Chapter 13 Cases Tax Returns Due After the Bankruptcy Filing Individuals in Chapter 12 or 13 Individuals in Chapter 7 or 11Debtor's Election To End Tax Year – Form 1040 Taxes and the Bankruptcy Estate Bankruptcy Estate – Income, Deductions, and Credits Tax Reporting – Chapter 11 Cases Bankruptcy Estate Tax Return Filing Requirements and Payment of Tax Due Tax Return Example – Form 1041 Partnerships and CorporationsFiling Requirements Partnerships Corporations Receiverships Determination of TaxPrompt Determination Requests Court Jurisdiction Over Tax MattersBankruptcy Court Tax Court Federal Tax ClaimsUnsecured Tax Claims Discharge of Unpaid Tax Debt CancellationExclusions Reduction of Tax Attributes Partnerships Corporations Tax Attribute Reduction Example How To Get Tax HelpTaxpayer Advocacy Panel (TAP). File tax amendment Low Income Taxpayer Clinics (LITCs). File tax amendment Bankruptcy Code Tax Compliance Requirements Tax Returns Due for Periods Ending Before the Bankruptcy Filing in Chapter 13 Cases The Bankruptcy Code requires chapter 13 debtors to file all required tax returns for tax periods ending within 4 years of the debtor's bankruptcy filing. File tax amendment All such federal tax returns must be filed with the IRS before the date first set for the first meeting of creditors. File tax amendment The debtor may request the trustee to hold the meeting open for an additional 120 days to enable the debtor to file the returns (or until the day the returns are due under an automatic IRS extension, if later). File tax amendment After notice and hearing, the bankruptcy court may extend the period for another 30 days. File tax amendment Failure to timely file the returns can prevent confirmation of a chapter 13 plan and result in either dismissal of the chapter 13 case or conversion to a chapter 7 case. File tax amendment Note. File tax amendment Individual debtors should use their home address when filing Form 1040 with the IRS. File tax amendment Returns should not be filed “in care of” the trustee's address. File tax amendment Ordering tax transcripts and copies of returns. File tax amendment   Trustees may require the debtor to submit copies or transcripts of the debtor's returns as proof of filing. File tax amendment The debtor can request free transcripts of the debtor's income tax returns by filing Form 4506-T, Request for Transcript of Tax Return, with the IRS or by placing a request on the IRS's free Automated Delivery Service (ADS), available by calling 1-800-829-1040. File tax amendment If requested through ADS, the transcript will be mailed to the debtor's most current address according to the IRS's records. File tax amendment Transcripts requested using Form 4506-T may be mailed to any address, including to the attention of the trustee in the debtor's bankruptcy case. File tax amendment Transcripts are normally mailed within 10 to 15 days of receipt of the request by the IRS. File tax amendment A transcript contains most of the information on the debtor's filed return, but it is not a copy of the return. File tax amendment To request a copy of the debtor's filed return, file Form 4506, Request for Copy of Tax Return. File tax amendment It may take up to 60 days for the IRS to provide the copies after receipt of the debtor's request, and there is a fee of $57. File tax amendment 00 per tax return for copies of the returns. File tax amendment Tax Returns Due After the Bankruptcy Filing For debtors filing bankruptcy under all chapters (chapters 7, 11, 12, or 13), the Bankruptcy Code provides that if the debtor does not file a tax return that becomes due after the commencement of the bankruptcy case, or obtain an extension for filing the return before the due date, the taxing authority may request that the bankruptcy court either dismiss the case or convert the case to a case under another chapter of the Bankruptcy Code. File tax amendment If the debtor does not file the required return or obtain an extension within 90 days after the request is made, the bankruptcy court must dismiss or convert the case. File tax amendment Tax returns and payment of taxes in chapter 11 cases. File tax amendment   The Bankruptcy Code provides that a chapter 11 debtor's failure to timely file tax returns and pay taxes owed after the date of the “order for relief” (the bankruptcy petition date in voluntary cases) is cause for dismissal of the chapter 11 case, conversion to a chapter 7 case, or appointment of a chapter 11 trustee. File tax amendment Disclosure of debtor's return information to trustee. File tax amendment   In bankruptcy cases filed under chapter 7 or 11 by individuals, the debtor's income tax returns for the year the bankruptcy case begins and for earlier years are, upon written request, open to inspection by or disclosure to the trustee. File tax amendment If the bankruptcy case was not voluntary, disclosure cannot be made before the bankruptcy court has entered an order for relief, unless the court rules that the disclosure is needed for determining whether relief should be ordered. File tax amendment    In bankruptcy cases other than those of individuals filing under chapter 7 or 11, the debtor's income tax returns for the current and prior years are, upon written request, open to inspection by or disclosure to the trustee, but only if the IRS finds that the trustee has a material interest that will be affected by information on the return. File tax amendment Material interest is generally defined as a financial or monetary interest. File tax amendment Material interest is not limited to the trustee's responsibility to file a return on behalf of the bankruptcy estate. File tax amendment   However, the U. File tax amendment S. File tax amendment Trustee (an officer of the Department of Justice, responsible for maintaining and supervising a panel of private trustees for chapter 7 bankruptcy cases) and the standing chapter 13 trustee (the administrator of chapter 13 cases in a specific geographic region) generally do not have a material interest in the debtor’s return or return information. File tax amendment Disclosure of bankruptcy estate's return information to debtor. File tax amendment    The bankruptcy estate's tax return(s) are open, upon written request, to inspection by or disclosure to the individual debtor in a chapter 7 or 11 bankruptcy. File tax amendment Disclosure of the estate's return to the debtor may be necessary to enable the debtor to determine the amount and nature of the tax attributes, if any, that the debtor assumes when the bankruptcy estate terminates. File tax amendment Individuals in Chapter 12 or 13 Only individuals may file a chapter 13 bankruptcy. File tax amendment Chapter 13 relief is not available to corporations or partnerships. File tax amendment The bankruptcy estate is not treated as a separate entity for tax purposes when an individual files a petition under chapter 12 (Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income) or 13 (Adjustment of Debts of an Individual with Regular Income) of the Bankruptcy Code. File tax amendment In these cases the individual continues to file the same federal income tax returns that were filed prior to the bankruptcy petition, Form 1040, U. File tax amendment S. File tax amendment Individual Income Tax Return. File tax amendment On the debtor's individual tax return, Form 1040, report all income received during the entire year and deduct all allowable expenses. File tax amendment Do not include in income the amount from any debt canceled due to the debtor's bankruptcy. File tax amendment To the extent the debtor has any losses, credits, or basis in property that were previously reduced as a result of canceled debt, these reductions must be included on the debtor's return. File tax amendment See Debt Cancellation, later. File tax amendment Interest on trust accounts in chapter 13 cases. File tax amendment   In chapter 13 proceedings, do not include interest earned on amounts held by the trustee in trust accounts as income on the debtor's return. File tax amendment This interest is not available to either the debtor or creditors, it is available only to the trustee for use by the U. File tax amendment S. File tax amendment Trustee system. File tax amendment The interest is also not taxable to the trustee as income. File tax amendment Individuals in Chapter 7 or 11 When an individual debtor files for bankruptcy under chapter 7 or 11 of the Bankruptcy Code, the bankruptcy estate is treated as a new taxable entity, separate from the individual taxpayer. File tax amendment The bankruptcy estate in a chapter 7 case is represented by a trustee. File tax amendment The trustee is appointed to administer the estate and liquidate any nonexempt assets. File tax amendment In chapter 11 cases, the debtor often remains in control of the assets as a “debtor-in-possession” and acts as the bankruptcy trustee. File tax amendment However, the bankruptcy court, for cause, may appoint a trustee if such appointment is in the best interests of the creditors and the estate. File tax amendment During the chapter 7 or 11 bankruptcy, the debtor continues to file an individual tax return on Form 1040. File tax amendment The bankruptcy trustee files a Form 1041 for the bankruptcy estate. File tax amendment However, when a debtor in a chapter 11 bankruptcy case remains a debtor-in-possession, he or she must file both a Form 1040 individual return and a Form 1041 estate return for the bankruptcy estate (if return filing requirements are met). File tax amendment Although a husband and wife may file a joint bankruptcy petition whose bankruptcy estates are jointly administered, the estates are be treated as two separate entities for tax purposes. File tax amendment Two separate bankruptcy estate income tax returns must be filed (if each spouse separately meets the filing requirements). File tax amendment For information about determining the tax due and paying tax for a chapter 7 or 11 bankruptcy estate, see Bankruptcy Estate Tax Return Filing Requirements and Payment of Tax Due, later. File tax amendment Debtor's Election To End Tax Year – Form 1040 Short tax years. File tax amendment   An individual debtor in a chapter 7 or 11 case may elect to close the debtor's tax year for the year in which the bankruptcy petition is filed, as of the day before the date on which the bankruptcy case commences. File tax amendment If the debtor makes this election, the debtor's tax year is divided into 2 short tax years of less than 12 months each. File tax amendment The first tax year ends on the day before the commencement date and the second tax year begins on the commencement date. File tax amendment   If the election is made, the debtor's federal income tax liability for the first short tax year becomes an allowable claim against the bankruptcy estate arising before the bankruptcy filing. File tax amendment Also, the tax liability for the first short tax year is not subject to discharge under the Bankruptcy Code. File tax amendment    If the debtor does not make an election to end the tax year, the commencement of the bankruptcy case does not affect the debtor's tax year. File tax amendment Also, no part of the debtor's income tax liability for the year in which the bankruptcy case commences can be collected from the bankruptcy estate. File tax amendment Note. File tax amendment The debtor cannot make a short tax year election if no assets, other than exempt property, are in the bankruptcy estate. File tax amendment Making the Election - Filing Requirements First short tax year. File tax amendment   The debtor can elect to end the debtor's tax year by filing a return on Form 1040 for the first short tax year. File tax amendment The return must be filed on or before the 15th day of the fourth full month after the end of that first tax year. File tax amendment Second short tax year. File tax amendment   If the debtor elects to end the tax year on the day before filing the bankruptcy case, the debtor must file the return for the first short tax year in the manner discussed above. File tax amendment   If the debtor makes this election, the debtor must also file a separate Form 1040 for the second short tax year by the regular due date. File tax amendment To avoid delays in processing the return, write “Second Short Year Return After Section 1398 Election” at the top of the return. File tax amendment Example. File tax amendment Jane Doe, an individual calendar year taxpayer, filed a bankruptcy petition under chapter 7 or 11 on May 8, 2012. File tax amendment If Jane elected to close her tax year at the commencement of her case, Jane's first short year for 2012 runs from January 1 through May 7, 2012. File tax amendment Jane's second short year runs from May 8, 2012, through December 31, 2012. File tax amendment To have a timely filed election for the first short year, Jane must file Form 1040 (or an extension of time to file) for the period January 1 through May 7 by September 15. File tax amendment To avoid delays in processing the return, write “Section 1398 Election” at the top of the return. File tax amendment The debtor may also make the election by attaching a statement to Form 4868, Automatic Extension of Time to File an U. File tax amendment S. File tax amendment Individual Tax Return. File tax amendment The statement must state that the debtor elects under IRC section 1398(d)(2) to close the debtor's tax year on the day before filing the bankruptcy case. File tax amendment The debtor must file Form 4868 by the due date of the return for the first short tax year. File tax amendment The debtor's spouse may also elect to close his or her tax year, see Election by debtor's spouse, below. File tax amendment Election by debtor's spouse. File tax amendment   If the debtor is married, the debtor's spouse may join in the election to end the tax year. File tax amendment If the debtor and spouse make a joint election, the debtor must file a joint return for the first short tax year. File tax amendment The debtor must elect by the due date for filing the return for the first short tax year. File tax amendment Once the election is made, it cannot be revoked for the first short tax year. File tax amendment However, the election does not prevent the debtor and the spouse from filing separate returns for the second short tax year. File tax amendment Later bankruptcy of spouse. File tax amendment    If the debtor's spouse files for bankruptcy later in the same year, he or she may also choose to end his or her tax year, regardless of whether he or she joined in the election to end the debtor's tax year. File tax amendment   As each spouse has a separate bankruptcy, one or both of them may have 3 short tax years in the same calendar year. File tax amendment If the debtor's spouse joined the debtor's election or if the debtor had not made the election to end the tax year, the debtor can join in the spouse's election. File tax amendment However, if the debtor made an election and the spouse did not join that election, the debtor cannot then join the spouse's later election. File tax amendment The debtor and the spouse are precluded from this election because they have different tax years. File tax amendment This results because the debtor does not have a tax year ending the day before the spouse's filing for bankruptcy, and the debtor cannot file a joint return for a year ending on the day before the spouse's filing of bankruptcy. File tax amendment Example 1. File tax amendment Paul and Mary Harris are calendar-year taxpayers. File tax amendment Paul's voluntary chapter 7 bankruptcy case begins on March 4. File tax amendment If Paul does not make an election, his tax year does not end on March 3. File tax amendment If he makes an election, Paul's first tax year is January 1–March 3, and his second tax year begins on March 4. File tax amendment Mary could join in Paul's election as long as they file a joint return for the tax year January 1–March 3. File tax amendment They must make the election by July 15, the due date for filing the joint return. File tax amendment Example 2. File tax amendment Fred and Ethel Barnes are calendar-year taxpayers. File tax amendment Fred's voluntary chapter 7 bankruptcy case begins on May 6, and Ethel's bankruptcy case begins on November 1 of the same year. File tax amendment Ethel could elect to end her tax year on October 31. File tax amendment If Fred did not elect to end his tax year on May 5, or if he elected to do so but Ethel had not joined in his election, Ethel would have 2 tax years in the same calendar year if she decided to close her tax year. File tax amendment Her first tax year is January 1–October 31, and her second year is November 1–December 31. File tax amendment If Fred did not end his tax year as of May 5, he could join in Ethel's election to close her tax year on October 31, but only if they file a joint return for the tax year January 1–October 31. File tax amendment If Fred elected to end his tax year on May 5, but Ethel did not join in Fred's election, Fred cannot join in Ethel's election to end her tax year on October 31. File tax amendment Fred and Ethel cannot file a joint return for that short tax year because their tax years preceding October 31 were not the same. File tax amendment Example 3. File tax amendment Jack and Karen Thomas are calendar-year taxpayers. File tax amendment Karen's voluntary chapter 7 bankruptcy case began on April 10, and Jack's voluntary chapter 7 bankruptcy case began on October 3 of the same year. File tax amendment Karen elected to close her tax year on April 9 and Jack joins in Karen's election. File tax amendment Under these facts, Jack would have 3 tax years for the same calendar year if he makes the election relating to his own bankruptcy case. File tax amendment The first tax year would be January 1–April 9; the second, April 10–October 2; and the third, October 3–December 31. File tax amendment Karen may join in Jack's election if they file a joint return for the second short tax year (April 10–October 2). File tax amendment If Karen does join in, she would have the same 3 short tax years as Jack. File tax amendment Also, if Karen joins in Jack's election, they may file a joint return for the third tax year (October 3–December 31), but they are not required to do so. File tax amendment Annualizing taxable income. File tax amendment   If the debtor elects to close the tax year, the debtor must annualize taxable income for each short tax year in the same manner a change in annual accounting period is calculated. File tax amendment See Short Tax Year in Publication 538, for information on how to annualize the debtor's income and to figure the tax for the short tax year. File tax amendment Dismissal of bankruptcy case. File tax amendment   If the bankruptcy court later dismisses an individual chapter 7 or 11 case, the bankruptcy estate is no longer treated as a separate taxable entity. File tax amendment It is as if no bankruptcy estate was created for tax purposes. File tax amendment In this situation, the debtor must file amended tax returns on Form 1040X, to replace all full or short year individual returns (Form 1040) and bankruptcy estate returns (Form 1041) filed as a result of the bankruptcy case. File tax amendment Income, deductions, and credits previously reported by the bankruptcy estate must be reported on the debtor's amended returns. File tax amendment Attach a statement to the amended returns explaining why the debtor is filing an amended return. File tax amendment Taxes and the Bankruptcy Estate Property of the bankruptcy estate. File tax amendment   At the commencement of a bankruptcy case a bankruptcy estate is created. File tax amendment Bankruptcy law determines which of the debtor's assets become part of a bankruptcy estate. File tax amendment This estate generally includes all of the debtor's legal and equitable interests in property as of the commencement date. File tax amendment However, there are exceptions and certain property is exempted or excluded from the bankruptcy estate. File tax amendment Note. File tax amendment Exempt property and abandoned property are initially part of the bankruptcy estate, but are subsequently removed from the estate. File tax amendment Excluded property is never included in the estate. File tax amendment Transfer of assets between debtor and bankruptcy estate. File tax amendment   The transfer (other than by sale or exchange) of an asset from the debtor to the bankruptcy estate is not treated as a disposition for income tax purposes. File tax amendment The transfer does not result in gain or loss, acceleration of income or deductions, or recapture of deductions or credits. File tax amendment For example, the transfer of an installment obligation to the estate would not accelerate gain under the rules for reporting installment sales. File tax amendment The estate assumes the same basis, holding period, and character of the transferred assets. File tax amendment Also, the estate generally accounts for the transferred assets in the same manner as debtor. File tax amendment   When the bankruptcy estate is terminated or dissolved, any resulting transfer (other than by sale or exchange) of the estate's assets back to the debtor is also not treated as a disposition for tax purposes. File tax amendment The transfer does not result in gain or loss, acceleration of income or deductions, or recapture of deductions or credits to the estate. File tax amendment Abandoned property. File tax amendment    The abandonment of property by the estate to the debtor is a nontaxable disposition of property. File tax amendment If the debtor received abandoned property from the bankruptcy estate, the debtor assumes the same basis in the property that the bankruptcy estate had. File tax amendment Separate taxable entity. File tax amendment   When an individual files a bankruptcy petition under chapter 7 or 11, the bankruptcy estate is treated as a separate taxable entity from the debtor. File tax amendment The court appointed trustee or the debtor-in-possession is responsible for preparing and filing all of the bankruptcy estate's tax returns, including its income tax return on Form 1041, U. File tax amendment S. File tax amendment Income Tax Return for Estates and Trusts, and paying its taxes. File tax amendment The debtor remains responsible for filing his or her own returns on Form 1040, U. File tax amendment S. File tax amendment Individual Income Tax Return, and paying taxes on income that does not belong to the estate. File tax amendment Employer identification number. File tax amendment   The trustee or debtor-in-possession must obtain an EIN for a bankruptcy estate. File tax amendment The trustee or debtor-in-possession uses this EIN on all tax returns filed for the bankruptcy estate with the IRS, including estimated tax returns. File tax amendment See Employer identification number, under Bankruptcy Estate Tax Return Filing Requirements and Payment of Tax Due, later. File tax amendment    The social security number of the individual debtor cannot be used as the EIN for the bankruptcy estate. File tax amendment Income, deductions, and credits – Form 1040. File tax amendment   In an individual chapter 7 or 11 bankruptcy case, do not include the income, deductions, and credits that belong to the bankruptcy estate on the debtor's individual income tax return (Form 1040). File tax amendment Also, do not include as income on the debtor's return the amount of any debt canceled by reason of the bankruptcy discharge. File tax amendment The bankruptcy estate must reduce certain losses, credits, and the basis in property (to the extent of these items) by the amount of canceled debt. File tax amendment See Debt Cancellation, below. File tax amendment Note. File tax amendment The debtor may not be able to claim certain deductions available to the bankruptcy estate such as administrative expenses. File tax amendment Additionally, the bankruptcy exclusion cannot be used to exclude income from a cancelled debt if the discharge of indebtedness was not within the bankruptcy case, even though the debtor was under the bankruptcy court's protection at the time. File tax amendment However, other exclusions, such as the insolvency exclusion, may apply. File tax amendment Bankruptcy Estate – Income, Deductions, and Credits Bankruptcy Estate Income Income of the estate in individual chapter 7 cases. File tax amendment    The gross income of the bankruptcy estate includes gross income of the debtor to which the estate is entitled under the Bankruptcy Code. File tax amendment Gross income also includes income generated by the bankruptcy estate from property of the estate after the commencement of the case. File tax amendment   Gross income of the bankruptcy estate does not include amounts received or accrued by the debtor before the commencement of the case. File tax amendment Additionally, in chapter 7 cases, gross income of the bankruptcy estate does not include any income that the debtor earns after the date of the bankruptcy petition. File tax amendment Income of the estate in individual chapter 11 cases. File tax amendment    In chapter 11 cases, under IRC section 1398(e)(1), gross income of the bankruptcy estate includes income that the debtor earns for services performed after the bankruptcy petition date. File tax amendment Also, earnings from services performed by an individual debtor after the commencement of the chapter 11 case are property of the bankruptcy estate under section 1115 of the Bankruptcy Code (11 U. File tax amendment S. File tax amendment C. File tax amendment section 1115). File tax amendment Note. File tax amendment A debtor-in-possession may be compensated by the estate for managing or operating a trade or business that the debtor conducted before the commencement of the bankruptcy case. File tax amendment Such payments should be reported by the debtor as miscellaneous income on his or her individual income tax return (Form 1040). File tax amendment Amounts paid by the estate to the debtor-in-possession for managing or operating the trade or business may qualify as administrative expenses of the estate. File tax amendment See Administrative expenses, below. File tax amendment Conversion or dismissal of chapter 11 cases. File tax amendment   If a chapter 11 case is converted to a chapter 13 case, the chapter 13 estate is not a separate taxable entity and earnings from post-conversion services and income from property of the estate realized after the conversion to chapter 13 are taxed to the debtor. File tax amendment If the chapter 11 case is converted to a chapter 7 case, 11 U. File tax amendment S. File tax amendment C. File tax amendment section 1115 does not apply after conversion and: Earnings from post-conversion services will be taxed to the debtor, rather than the estate, and The property of the chapter 11 estate will become property of the chapter 7 estate. File tax amendment Any income on this property will be taxed to the estate even if the income is realized after the conversion to chapter 7. File tax amendment If a chapter 11 case is dismissed, the debtor is treated as if the bankruptcy case had never been filed and as if no bankruptcy estate had been created. File tax amendment Bankruptcy Estate Deductions and Credits A bankruptcy estate deducts expenses incurred in a trade, business, or activity, and uses credits in the same way the debtor would have deducted or credited them had he or she continued operations. File tax amendment Note. File tax amendment Expenses may be disallowed under other provisions of the IRC (such as the disallowance of certain capital expenditures or expenses relating to tax-exempt interest). File tax amendment Administrative expenses. File tax amendment   Allowable expenses include administrative expenses. File tax amendment    Administrative expenses can only be deducted by the estate, never by the debtor. File tax amendment   The bankruptcy estate is allowed deductions for bankruptcy administrative expenses and fees, including accounting fees, attorney fees, and court costs. File tax amendment These expenses are deductible on Form 1040, Schedule A as miscellaneous itemized deductions not subject to the 2% floor on miscellaneous itemized deductions, because they would not have been incurred if property had not been held by the bankruptcy estate. File tax amendment See IRC section 67(e). File tax amendment Administrative expenses of the bankruptcy estate attributable to conducting a trade or business for the production of estate rents or royalties are deductible in arriving at adjusted gross income on Form 1040, Schedules C, E, and F. File tax amendment Note. File tax amendment The bankruptcy estate uses Form 1041 as a transmittal for the tax return prepared using Form 1040 and its schedules. File tax amendment See Transmittal for Form 1040 under Tax Return Filing Requirements and Payment of Tax, later. File tax amendment Administrative expense loss. File tax amendment   If the administrative expenses of the bankruptcy estate are more than its gross income for a tax year, the excess amount may be carried back 3 years and forward 7 years. File tax amendment The amounts can only be carried to a tax year of the estate and never to a debtor's tax year. File tax amendment The excess amount to be carried back or forward is treated like a net operating loss (NOL) and must first be carried back to the earliest year possible. File tax amendment For a discussion of NOLs, see Publication 536. File tax amendment Attribute carryovers. File tax amendment   The bankruptcy estate may use its tax attributes the same way that the debtor would have used them. File tax amendment These items are determined as of the first day of the debtor's tax year in which the bankruptcy case begins. File tax amendment The bankruptcy estate assumes the following tax attributes from the debtor: NOL carryovers, Carryovers of excess charitable contributions, Recovery of tax benefit items, Credit carryovers, Capital loss carryovers, Basis, holding period, and character of assets, Method of accounting, Passive activity loss and credit carryovers, Unused at-risk deductions, and Other tax attributes provided in the regulations. File tax amendment   Certain tax attributes of the bankruptcy estate must be reduced by the amount of income that was previously excluded as a result of cancellation of debt during the bankruptcy proceeding. File tax amendment See Debt Cancellation, later. File tax amendment   When the bankruptcy estate is terminated (for example, when the case ends), the debtor assumes any remaining tax attributes previously taken over by the bankruptcy estate. File tax amendment The debtor also generally assumes any of the tax attributes, listed above, that arose during the administration of the bankruptcy estate. File tax amendment Note. File tax amendment The debtor does not assume the bankruptcy estate's administrative expense losses because they cannot be used by an individual taxpayer filing Form 1040. File tax amendment See Administrative expense loss, above. File tax amendment Passive and at-risk activities. File tax amendment   For bankruptcy cases beginning after November 8, 1992, passive activity carryover losses and credits and unused at-risk deductions are treated as tax attributes passing from the debtor to the bankruptcy estate, which the estate then passes back to the debtor when the bankruptcy estate terminates. File tax amendment Additionally, transfers to the debtor (other than by sale or exchange) of interests in passive or at-risk activities are treated as non-taxable exchanges. File tax amendment These transfers include the return of exempt property and abandonment of estate property to the debtor. File tax amendment Carrybacks from the debtor's activities. File tax amendment   The debtor cannot carry back any NOL or credit carryback from a tax year ending after the bankruptcy case has begun to any tax year ending before the case began. File tax amendment Carrybacks from the bankruptcy estate. File tax amendment   If the bankruptcy estate has an NOL that did not pass to the estate from the debtor under the attribute carryover rules, the estate can carry the loss back not only to its own earlier tax years but also to the debtor's tax years before the year the bankruptcy case began. File tax amendment The estate may also carry back excess credits, such as the general business credit, to the pre-bankruptcy tax years. File tax amendment Tax Reporting – Chapter 11 Cases Allocation of income and credits on information returns and required statement for returns for individual chapter 11 cases. File tax amendment    In chapter 11 cases, when an employer issues a Form W-2 reporting all of the debtor's wages, salary, or other compensation for a calendar year, and a portion of the earnings represent post-petition services includible in the estate's gross income, the Form W-2 amounts must be allocated between the estate and the debtor. File tax amendment The debtor-in-possession or trustee must allocate the income amount reported in box 1 and the income tax withheld reported in box 2 between the debtor and the estate. File tax amendment These allocations must reflect that the debtor's gross earnings from post-petition services and gross income from post-petition property are, generally, includible in the estate's gross income and not the debtor's gross income. File tax amendment The debtor and trustee may use a simple percentage method to allocate income and income tax withheld. File tax amendment The same method must be used to allocate the income and the withheld tax. File tax amendment Example. File tax amendment If 20% of the wages reported on Form W-2 for a calendar year were earned after the commencement of the case and are included in the estate's gross income, 20% of the withheld income tax reported on Form W-2 must also be claimed as a credit on the estate's income tax return. File tax amendment Likewise, 80% of wages must be reported by the debtor and 80% of the income tax withheld must be claimed as a credit on the debtor's income tax return. File tax amendment See IRC section 31(a). File tax amendment   If information returns are issued to the debtor for gross income, gross proceeds, or other reportable payments that should have been reported to the bankruptcy estate, the debtor-in-possession or trustee must allocate the improperly reported income in a reasonable manner between the debtor and the estate. File tax amendment In general, the allocation must ensure that any income and income tax withheld attributable to the post-petition period is reported on the estate's return, and any income and income tax withheld attributable to the pre-petition period is reported on the debtor's return. File tax amendment    IRS Notice 2006-83 requires the debtor to attach a statement to his or her individual income tax return (Form 1040) stating that the return is filed subject to a chapter 11 bankruptcy case. File tax amendment The statement must also: Show the allocations of income and income tax withheld, Describe the method used to allocate income and income tax withheld, and List the filing date of the bankruptcy case, the bankruptcy court in which the case is pending, the bankruptcy court case number, and the bankruptcy estate's EIN. File tax amendment Note. File tax amendment The debtor-in-possession or trustee must attach a similar statement to the bankruptcy estate's income tax return (Form 1041). File tax amendment   The model Notice 2006-83 Statement, shown above, may be used by debtors, debtors-in-possession, and trustees to satisfy the reporting requirement. File tax amendment Self-employment taxes in individual chapter 11 cases. File tax amendment   IRC section 1401 imposes a tax upon the self-employment income, that is, the net earnings from self-employment of an individual. File tax amendment Net earnings from self-employment are equal to the gross income derived by an individual from any trade or business carried on by such individual, less deductions attributable to the business. File tax amendment   Neither section 1115 of the Bankruptcy Code nor IRC section 1398 addresses the application of self-employment tax to the post-petition earnings of the individual debtor. File tax amendment Therefore, if the debtor continues to derive gross income from the performance of services as a self-employed individual after the commencement of the bankruptcy case, the debtor must continue to report the debtor's self-employment income on Schedule SE (Form 1040) of the debtor's income tax return. File tax amendment This schedule includes self-employment income earned post-petition and the attributable deductions. File tax amendment The debtor must pay any self-employment tax imposed by IRC section 1401. File tax amendment Employment taxes and employer's obligation to file Form W-2 in individual chapter 11 cases. File tax amendment   In chapter 11 cases, post-petition wages earned by a debtor are generally treated as gross income of the estate. File tax amendment However, section 1115 of the Bankruptcy Code (11 U. File tax amendment S. File tax amendment C. File tax amendment section 1115) does not affect the determination of what are deemed wages for Federal Insurance Contributions Act (FICA) tax, Federal Unemployment Tax Act (FUTA) tax, or Federal Income Tax Withholding purposes. File tax amendment See Notice 2006-83. File tax amendment   The reporting and withholding obligations of a debtor's employer also do not change. File tax amendment An employer should continue to report the wages and tax withholding on a Form W-2 issued under the debtor's name and social security number. File tax amendment Notice to persons required to file information returns (other than Form W-2, Wage and Tax Statement) in individual chapter 11 cases. File tax amendment   Within a reasonable time after the commencement of a chapter 11 bankruptcy case, the trustee or debtor-in-possession should provide notification of the bankruptcy estate's EIN to all persons (or entities) that are required to file information returns for the bankruptcy estate's gross income, gross proceeds, or other types of reportable payments. File tax amendment See IRC section 6109(a)(2). File tax amendment As these payments are the property of the estate under section 1115 of the Bankruptcy Code, the payors should report the gross income, gross proceeds, or other reportable payments on the appropriate information return using the estate's name and EIN as required under the IRC and regulations (see IRC sections 6041 through 6049). File tax amendment   The trustee or debtor-in-possession should not, however, provide the EIN to a person (or entity) filing Form W-2 reporting the debtor's wages or other compensation, as section 1115 of the Bankruptcy Code does not affect the determination of what constitutes wages for purposes of federal income tax withholding or FICA. File tax amendment See Notice 2006-83. File tax amendment An employer should continue to report all wage income and tax withholding, both pre-petition and post-petition, on a Form W-2 to the debtor under the debtor's social security number. File tax amendment   The debtor in a chapter 11 case is not required to file a new Form W-4 with an employer solely because the debtor filed a chapter 11 case and the post-petition wages are includible in the estate's income and not the debtor's income. File tax amendment However, a new Form W-4 may be necessary if the debtor is no longer entitled to claim the same number of allowances previously claimed because certain deductions or credits now belong to the estate. File tax amendment See Employment Tax Regulations section 31. File tax amendment 3402(f)(2)-1. File tax amendment Additionally, the debtor may wish to file a new Form W-4 to increase the income tax withheld from post-petition wages allocated to the estate to avoid having to make estimated tax payments for the estate. File tax amendment See IRC section 6654(a). File tax amendment Notice required in converted and dismissed cases. File tax amendment   When a chapter 11 bankruptcy case is closed, dismissed, or converted to a chapter 12 or 13 case, the bankruptcy estate ends as a separate taxable entity. File tax amendment The debtor should, within a reasonable time, send notice of such event to the persons (or entities) previously notified of the bankruptcy case. File tax amendment This helps to ensure that gross income, proceeds, and other reportable payments realized after the event are reported to the debtor under the correct TIN rather than to the estate. File tax amendment   When a chapter 11 case is converted to a chapter 7 case, the bankruptcy estate will continue to exist as a separate taxable entity. File tax amendment Gross income (other than post-conversion income from the debtor's services), gross proceeds, or other reportable payments should continue to be reported to the estate if they are property of the chapter 7 estate. File tax amendment However, income from services performed by the debtor after conversion of the case to chapter 7 is not property of the chapter 7 estate. File tax amendment After the conversion, the debtor should notify payors required to report the debtor's nonemployee compensation that compensation earned after the conversion should be reported using the debtor's name and TIN, not the estate's name and EIN. File tax amendment Employment taxes. File tax amendment   The trustee or debtor-in-possession must withhold income and social security taxes and file employment tax returns for any wages paid by the trustee or debtor, including wage claims paid as administrative expenses. File tax amendment See Publication 15, Circular E, Employer's Tax Guide, for details on employer tax responsibilities. File tax amendment   The trustee also has the duty to prepare and file Forms W-2 for wage claims paid by the trustee, regardless of whether the claims accrued before or during bankruptcy. File tax amendment For a further discussion of employment taxes, see Employment Taxes, later. File tax amendment Notice 2006-83 Statement Pending Bankruptcy Case The taxpayer, , filed a bankruptcy petition under chapter 11 of the Bankruptcy Code in the bankruptcy court for the District of . File tax amendment The bankruptcy court case number is . File tax amendment Gross income, and withheld federal income tax, reported on Form W-2, Forms 1099, Schedule K-1, and other information returns received under the taxpayer's name and social security number (or other taxpayer identification number) are allocated between the taxpayer's TIN and the bankruptcy estate's EIN as follows, using [describe allocation method]:. File tax amendment   Year Taxpayer   Estate 1. File tax amendment Form W-2, Payor: $   $     Withheld income tax shown on Form W-2 $   $   2. File tax amendment Form 1099-INT Payor: $   $     Withheld income tax (if any) shown on Form 1099-INT $   $   3. File tax amendment Form 1099-DIV Payor: $   $     Withheld income tax (if any) shown on Form 1099-DIV $   $   4. File tax amendment Form 1099-MISC Payor: $   $     Withheld income tax (if any) shown on Form 1099-MISC $   $   Bankruptcy Estate Tax Return Filing Requirements and Payment of Tax Due Filing Requirements Filing threshold. File tax amendment   If the bankruptcy estate has gross income that meets or exceeds the minimum amount required for filing, the trustee or debtor-in-possession must file an income tax return on Form 1041. File tax amendment This amount is equal to the sum of the personal exemption amount plus the basic standard deduction for a married individual filing separately. File tax amendment   For 2012, the threshold filing amount for a bankruptcy estate is $9,750 (the sum of the $3,800 personal exemption plus the $5,950 standard deduction for married individuals filing separately). File tax amendment   These amounts are generally adjusted annually. File tax amendment See the present year Form 1041 Instructions at www. File tax amendment irs. File tax amendment gov/form1041 for the current dollar amounts. File tax amendment Accounting period. File tax amendment   A bankruptcy estate may have a fiscal year. File tax amendment However, this period cannot be longer than 12 months. File tax amendment Change of accounting period. File tax amendment   The bankruptcy estate may change its accounting period (tax year) once without IRS approval. File tax amendment This rule allows the bankruptcy trustee to close the estate's tax year early, before the expected termination of the bankruptcy estate. File tax amendment The trustee can then file a return for the first short tax year to get a quick determination of the estate's tax liability. File tax amendment Employer identification number. File tax amendment   The trustee or debtor-in-possession must obtain an EIN for a bankruptcy estate. File tax amendment The trustee or debtor-in-possession uses this EIN on all tax returns filed for the bankruptcy estate with the IRS, including estimated tax returns. File tax amendment    The social security number of the individual debtor cannot be used as the EIN for the bankruptcy estate. File tax amendment   Obtain an EIN for a bankruptcy estate by applying: Online by clicking on the EIN link at www. File tax amendment irs. File tax amendment gov/businesses/small. File tax amendment The EIN is issued immediately once the application information is validated. File tax amendment By telephone at 1-800-829-4933 from 7:00 a. File tax amendment m. File tax amendment to 7:00 p. File tax amendment m. File tax amendment in the trustee's or debtor-in-possession's local time zone. File tax amendment Assistance provided to callers from Alaska and Hawaii will be based on the hours of operation in the Pacific time zone, or By mailing or faxing Form SS-4, Application for Employer Identification Number. File tax amendment   If the trustee or debtor-in-possession has not received the bankruptcy estate's EIN by the time the return is due, write “Applied for” and the date you applied in the space for the EIN. File tax amendment For more details, see Pub. File tax amendment 583, Starting a Business and Keeping Records. File tax amendment   Trustees representing ten or more bankruptcy estates (other than estates that will be filing employment or excise tax returns) may request a series or block of EINs. File tax amendment Figuring tax due. File tax amendment   The bankruptcy estate figures its taxable income the same way an individual figures taxable income. File tax amendment However, the estate uses the tax rates for a married individual filing separately to calculate the tax on its taxable income. File tax amendment The estate is entitled to one personal exemption and may either itemize deductions or take the basic standard deduction for a married individual filing a separate return. File tax amendment The estate cannot take the higher standard deduction allowed for married persons filing separately who are 65 or older or blind. File tax amendment Tax rate schedule. File tax amendment The tax on income for bankruptcy estates is calculated using the tax rate schedule for Married Individuals Filing Separately not the Estates and Trusts tax rate schedule. File tax amendment When to file. File tax amendment   Calendar year bankruptcy estates must file Form 1041 by April 15th. File tax amendment Fiscal year bankruptcy estates must file on or before the 15th day of the 4th month following the close of its tax year. File tax amendment For example, an estate that has a tax year that ends on June 30th must file Form 1041 by October 15th of the tax year. File tax amendment If the due date falls on a Saturday, Sunday, or legal holiday, file on the next business day. File tax amendment Note. File tax amendment The bankruptcy estate is allowed an automatic 6-month extension of time to file the bankruptcy estate tax return upon filing the required application, Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns. File tax amendment Transmittal for Form 1040. File tax amendment   Form 1041 is used as a transmittal for Form 1040. File tax amendment If a return is required, the trustee or debtor-in-possession must complete the identification area at the top of Form 1041 and indicate the chapter under which the bankruptcy estate filed, either chapter 7 or chapter 11. File tax amendment   Prepare the bankruptcy estate's return by completing Form 1040. File tax amendment In the top margin of Form 1040, write “Attachment to Form 1041 —DO NOT DETACH. File tax amendment ” Then, attach Form 1040 to the Form 1041 transmittal. File tax amendment Enter the tax and payment amounts on lines 23 through 29 of Form 1041, then sign and date the return. File tax amendment An example of a bankruptcy estate's tax return is prepared below. File tax amendment Note. File tax amendment The filing of the bankruptcy estate's tax return does not relieve a debtor from the requirement to file his or her individual tax return on Form 1040. File tax amendment Payment of Tax Due Payment methods. File tax amendment   Payment of tax due may be made by check or money order or by credit or debit card. File tax amendment For information on how to make payments electronically by credit or debit card, go to irs. File tax amendment gov/e-pay. File tax amendment      Payments may also be made electronically using the Electronic Federal Tax Payment System (EFTPS), a free tax payment system that allows you to make payments online or by phone. File tax amendment To enroll in EFTPS, go to eftps. File tax amendment gov or call 1-800-555-4477. File tax amendment For more information see Publication 966, Electronic Federal Tax Payment System: A Guide to Getting Started. File tax amendment Payment voucher – Form 1041-V. File tax amendment   Form 1041-V accompanies payments made by check or money order for Form 1041. File tax amendment The voucher includes information about the bankruptcy estate, including the name of the bankruptcy estate, trustee, EIN, and amount due. File tax amendment Using Form 1041-V assists the IRS in processing the payment more accurately and efficiently. File tax amendment We recommend the use of Form 1041-V; however, there is no penalty if the voucher is not used. File tax amendment Estimated tax – Form 1041-ES. File tax amendment   In most cases, the trustee or debtor-in-possession must pay any required estimated tax due for the bankruptcy estate. File tax amendment See the Form 1041-ES Instructions for information on the minimum threshold amount required for filing Form 1041-ES, paying the estimated tax, and exceptions to filing. File tax amendment Employment Taxes The trustee or debtor-in-possession must withhold income and social security taxes and file employment tax returns for any wages paid by the trustee or debtor, including wage claims paid as administrative expenses. File tax amendment Until these employment taxes are deposited as required by the IRC, they should be set aside in a separate bank account to ensure that funds are available to satisfy the liability. File tax amendment If the employment taxes are not paid as required, the trustee may be held personally liable for payment of the taxes. File tax amendment   See Publication 15, (Circular E), Employer's Tax Guide, for details on employer tax responsibilities. File tax amendment Also see IRS Notice 931, Deposit Requirements for Employment Taxes, for details on the deposit rules, including the requirement that federal employment tax deposits be made by electronic funds transfer. File tax amendment The trustee also has a duty to prepare and file Forms W-2, Wage and Tax Statement, for wage claims paid by the trustee, regardless of whether the claims accrued before or during bankruptcy. File tax amendment If the debtor fails to prepare and file Forms W-2 for wages paid before bankruptcy, the trustee should instruct the employees to file a Form 4852, Substitute for Form W-2, Wage and Tax Statement, or Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. File tax amendment , with their individual income tax returns. File tax amendment Tax Return Example – Form 1041 This publication is not revised annually. File tax amendment Future changes to the forms and their instructions may not be reflected in this example. File tax amendment Note. File tax amendment The following return was prepared for tax year 2011. File tax amendment In 2011, the threshold filing amount for a bankruptcy estate was $9,500 (the sum of the $3,700 personal exemption plus the $5,800 standard deduction for married individuals filing separately). File tax amendment Facts and circumstances. File tax amendment   On December 15, 2010, Thomas Smith filed a bankruptcy petition under chapter 7. File tax amendment Joan Black was appointed trustee to administer the bankruptcy estate and to distribute the assets. File tax amendment   The estate received the following assets from Mr. File tax amendment Smith: A $100,000 certificate of deposit, Commercial rental real estate with a fair market value (FMV) of $280,000, and His personal residence with an FMV of $200,000. File tax amendment   Also, the estate received a $251,500 capital loss carryover. File tax amendment   Mr. File tax amendment Smith's bankruptcy case was closed on December 31, 2011. File tax amendment During 2011, Mr. File tax amendment Smith was relieved of $70,000 of debt by the bankruptcy court. File tax amendment The estate chose a calendar year as its tax year. File tax amendment Joan, the trustee, reviews the estate's transactions and reports the taxable events on the estate's final return. File tax amendment Schedule B (Form 1040). File tax amendment    The certificate of deposit earned $5,500 of interest during 2011. File tax amendment Joan reports this interest on Schedule B. File tax amendment She completes this schedule and enters the result on Form 1040. File tax amendment Form 4562. File tax amendment   Joan enters the depreciation allowed on Form 4562. File tax amendment She completes the form and enters the result on Schedule E. File tax amendment Schedule E (Form 1040). File tax amendment   The commercial real estate was rented through the date of sale. File tax amendment Joan reports the income and expenses on Schedule E. File tax amendment She enters the net income on Form 1040. File tax amendment Form 4797. File tax amendment   The commercial real estate was sold on July 1, 2011, for $280,000. File tax amendment The property was purchased in 2001 at a cost of $250,000. File tax amendment The total depreciation allowable as of the date of sale was $120,000. File tax amendment Additionally, $25,000 of selling expenses were incurred. File tax amendment Joan reports the gain or loss from the sale on Form 4797. File tax amendment She completes the form and enters the gain on Schedule D (Form 1040). File tax amendment   Mr. File tax amendment Smith's former residence was sold on September 30, 2011. File tax amendment The sale price was $200,000, the selling expenses were $20,000, and his adjusted basis was $130,000. File tax amendment This sale is excluded from gross income under IRC section 121. File tax amendment Note. File tax amendment Gains from the sale of personal residences are excluded from gross income up to $250,000 under IRC section 121 ($500,000 for married couples filing a joint return). File tax amendment Bankruptcy estates succeed to this exclusion at the commencement of the case. File tax amendment See Regulation section 1. File tax amendment 1398-3. File tax amendment Schedule D (Form 1040). File tax amendment   Joan completes Schedule D, taking into account the $250,000 capital loss carryover from 2010 ($251,500 transferred to the estate minus $1,500 used on the estate's 2010 return). File tax amendment She enters the results on Form 1040. File tax amendment Form 1040, page 1. File tax amendment   Joan completes page 1 of the Form 1040 and enters the adjusted gross income on the first line of Form 1040, page 2. File tax amendment Schedule A (Form 1040). File tax amendment   During 2011, the estate paid mortgage interest and real property tax on Mr. File tax amendment Smith's former residence. File tax amendment It also paid income tax to the state. File tax amendment Joan enters the mortgage interest, real estate tax, and income tax on Schedule A. File tax amendment Also, she reports the bankruptcy estate's administrative expenses as a miscellaneous deduction not subject to the 2% floor on miscellaneous itemized deductions. File tax amendment She completes the Schedule A and enters the result on page 2 of Form 1040. File tax amendment Form 1040, page 2. File tax amendment   Joan determines the estate's taxable income and figures its tax using the tax rate schedule for married filing separately. File tax amendment She then enters the estate's estimated tax payments and figures the amount the estate still owes. File tax amendment Form 982. File tax amendment   Joan completes the Schedule D Tax Worksheet to figure the capital loss carryover. File tax amendment Because $70,000 of debt was canceled, Joan must reduce the tax attributes of the estate by the amount of the canceled debt. File tax amendment See Debt Cancellation, later. File tax amendment After the bankruptcy case ends, Mr. File tax amendment Smith will assume the estate's tax attributes. File tax amendment Mr. File tax amendment Smith will assume a capital loss carryover of $53,500 ($123,500 carryover minus the $70,000 attribute reduction) for use in preparation of his individual tax return (Form 1040). File tax amendment Note. File tax amendment If the bankruptcy estate had continued, the capital loss carryover would be available to the bankruptcy estate for the 2012 tax year. File tax amendment Form 1041. File tax amendment   Joan enters the total tax, estimated tax payments, and tax due from Form 1040 on Form 1041. File tax amendment She completes the identification area at the top of Form 1041, then signs and dates the return as the trustee on behalf of the bankruptcy estate. File tax amendment This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 1040 - page 1 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 1040 - page 2 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Schedule A This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Schedule B This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Schedule D This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Schedule E This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 4797 - page 1 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 2119 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 4797 - page 2 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 4562 This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Capital Loss Carryover Worksheet This image is too large to be displayed in the current screen. File tax amendment Please click the link to view the image. File tax amendment Sample Form 982 Capital Loss Carryover Worksheet—Lines 6 and 14 Use this worksheet to figure your capital loss carryovers from 2010 to 2011 if your 2010 Schedule D, line 21, is a loss and (a) that loss is a smaller loss than the loss on your 2010 Schedule D, line 16, or (b) the amount on your 2010 Form 1040, line 41 (or your 2010 Form 1040NR, line 38, if applicable) is less than zero. File tax amendment Otherwise, you do not have any carryovers. File tax amendment 1. File tax amendment Enter the amount from your 2010 Form 1040, line 41, or Form 1040NR, line 38. File tax amendment If a loss, enclose the amount in parentheses 1. File tax amendment 19,880   2. File tax amendment Enter the loss from your 2010 Schedule D, line 21, as a positive amount 2. File tax amendment 1,500   3. File tax amendment Combine lines 1 and 2. File tax amendment If zero or less, enter -0- 3. File tax amendment 21,380   4. File tax amendment Enter the smaller of line 2 or line 3 4. File tax amendment 1,500     If line 7 of your 2010 Schedule D is a loss, go to line 5; otherwise, enter -0- on line 5 and go to line 9. File tax amendment       5. File tax amendment Enter the loss from your 2010 Schedule D, line 7, as a positive amount 5. File tax amendment 0   6. File tax amendment Enter any gain from your 2010 Schedule D, line 15. File tax amendment If a loss, enter -0- 6. File tax amendment         7. File tax amendment Add lines 4 and 6 7. File tax amendment 1,500   8. File tax amendment Short-term capital loss carryover for 2011. File tax amendment Subtract line 7 from line 5. File tax amendment If zero or less, enter -0-. File tax amendment If more than zero, also enter this amount on Schedule D, line 6 8. File tax amendment 0     If line 15 of your 2010 Schedule D is a loss, go to line 9; otherwise, skip lines 9 through 13. File tax amendment       9. File tax amendment Enter the loss from your 2010 Schedule D, line 15, as a positive amount 9. File tax amendment 251,500   10. File tax amendment Enter any gain from your 2010 Schedule D, line 7. File tax amendment If a loss, enter -0- 10. File tax amendment 0       11. File tax amendment Subtract line 5 from line 4. File tax amendment If zero or less, enter -0- 11. File tax amendment 1,500       12. File tax amendment Add lines 10 and 11 12. File tax amendment 1,500   13. File tax amendment Long-term capital loss carryover for 2011. File tax amendment Subtract line 12 from line 9. File tax amendment If zero or less, enter -0-. File tax amendment If more than zero, also enter this amount on Schedule D, line 14 13. File tax amendment 250,000                       Partnerships and Corporations Filing Requirements A separate taxable estate is not created when a partnership or corporation files a bankruptcy petition and their tax return filing requirements do not change. File tax amendment The debtor-in-possession, court appointed trustee, assignee, or receiver must file the entity's income tax returns on Form 1065, Form 1120 or, Form 1120S. File tax amendment In cases where a trustee or receiver is not appointed, the debtor-in-possession continues business operations and remains in possession of the business' property during the bankruptcy proceeding. File tax amendment The debtor-in-possession, rather than the general partner of a partnership or corporate officer of a corporation, assumes the fiduciary responsibility to file the business' tax returns. File tax amendment Partnerships The filing requirements for a partnership in a bankruptcy proceeding do not change. File tax amendment However, the responsibility to file the required returns becomes that of the court appointed trustee, receiver, or debtor-in-possession. File tax amendment A partnership's debt that is canceled as a result of the bankruptcy proceeding is not included in the partnership's income. File tax amendment However, It may or may not be included in the individual partners' income. File tax amendment See Partnerships, below under Debt Cancellation. File tax amendment Corporations The filing requirements for a corporation in a bankruptcy proceeding also do not change. File tax amendment A bankruptcy trustee, receiver, or debtor-in-possession, having possession of or holding title to substantially all of the property or business operations of the debtor corporation, must file the debtor's corporate income tax return for the tax year. File tax amendment The following discussion only highlights bankruptcy tax rules applying to corporations. File tax amendment The complex details of corporate bankruptcy reorganizations are beyond the scope of this publication. File tax amendment Therefore, you may wish to seek the help of a professional tax advisor. File tax amendment See Corporations under Debt Cancellation for information about a corporation's debt canceled in a bankruptcy proceeding. File tax amendment Tax-Free Reorganizations The tax-free reorganization provisions of the Internal Revenue Code allow a corporation to transfer all or part of its assets to another corporation in a bankruptcy under title 11 of the United States Code or in a similar case. File tax amendment However, under the reorganization plan, the stock or securities of the corporation to which the assets are transferred must be distributed in a transaction that qualifies under IRC section 354, 355, or 356. File tax amendment A “similar case” includes a receivership, foreclosure, or other similar proceeding in a federal or state court. File tax amendment In these cases, any party to the reorganization must be under the jurisdiction of the court and the transfer of assets under the plan of reorganization must be approved by the court. File tax amendment In a receivership, foreclosure, or similar proceeding before a federal or state agency involving certain financial institutions, the agency is treated as a court. File tax amendment Generally, IRC section 354 provides that no gain or loss is recognized if a corporation's stock is exchanged solely for stock or securities in a corporation that is a party to the reorganization under a qualifying reorganization plan. File tax amendment In this case, shareholders in the bankrupt corporation would recognize no gain or loss if they exchange their stock solely for stock or securities of the corporation acquiring the bankrupt corporation's assets. File tax amendment IRC section 355 generally provides that no gain or loss is recognized by a shareholder if a corporation distributes solely stock or securities of another corporation that the distributing corporation controls immediately before the distribution. File tax amendment IRC section 356 allows tax-free exchanges in situations that would qualify under IRC section 354 or 355, except that other property or money, in addition to the permitted stock or securities, is received by the shareholder. File tax amendment In this situation, gain is recognized by the shareholder, but only to the extent of the money and the FMV of the other property received. File tax amendment No loss is recognized in this situation. File tax amendment Exemption from tax return filing A trustee, receiver, or assignee of a corporation in bankruptcy, receivership, or in the process of dissolving, may apply to the IRS for relief from filing federal income tax returns for the corporation. File tax amendment To qualify, the corporation must have ceased business operations and have no assets nor income for the tax year. File tax amendment The exemption request must be submitted to the local IRS Insolvency Office handling the case. File tax amendment The request to the IRS must include the name, address, and EIN of the corporation and a statement of the facts (with any supporting documents) showing why the debtor needs relief from the filing requirements. File tax amendment The request must also include the following statement: “I hereby request relief from filing federal income tax returns for tax years ending _____ for the above-named corporation and declare under penalties of perjury that to the best of my knowledge and belief the information contained herein is correct. File tax amendment ” The statement must be signed by the trustee, receiver or assignee. File tax amendment The statement must also include notice of appointment to act on behalf of the corporation (this is not required for bankruptcy trustees or debtors-in-possession). File tax amendment The IRS will act on your request within 90 days. File tax amendment Disclosure of return information to trustee. File tax amendment   Upon written request, current and earlier returns of the debtor are open to inspection by or disclosure to the trustee or receiver. File tax amendment However, in bankruptcy cases other than those of individuals filing under chapter 7 or 11, such as a corporate bankruptcy, the IRS must find that the trustee has a material interest that will be affected by information on the return. File tax amendment Material interest is generally defined as a financial or monetary interest. File tax amendment Material interest is not limited to the trustee's responsibility to file a return on behalf of the bankruptcy estate. File tax amendment Receiverships Court-established receiverships sometimes arise in connection with bankruptcies. File tax amendment Certain court-established receiverships should be treated as qualified settlement funds ("QSFs") for purposes of IRC section 468B and the underlying Treasury Regulations. File tax amendment QSFs are required to file an annual income tax return, Form 1120-SF, U. File tax amendment S. File tax amendment Income Tax Return for Settlement Funds. File tax amendment More information about QSFs may be found in Treasury Regulation sections 1. File tax amendment 468B-1 through -5. File tax amendment Determination of Tax The determination of the proper amount of tax due for a tax year begins with the bankruptcy estate's filing of Form 1041, and the individual debtor's filing of Form 1040, or for bankrupt entities filing Forms 1065, 1120, or 1120S. File tax amendment After a return is filed, the IRS will either accept the return as filed or select the return for examination. File tax amendment Under examination the IRS may redetermine the tax liability shown on the return. File tax amendment If the bankruptcy estate or debtor disagrees with the redetermined tax due, the tax as redetermined by the IRS may be contested in the bankruptcy court, or Tax Court, as applicable. File tax amendment See Court Jurisdiction over Tax Matters, later. File tax amendment Prompt Determination Requests Pursuant to Rev. File tax amendment Proc. File tax amendment 2006-24, 2006-22 I. File tax amendment R. File tax amendment B. File tax amendment 943, www. File tax amendment irs. File tax amendment gov/irb/2006-22_IRB/ar12, as modified by Announcement 2011-77, www. File tax amendment irs. File tax amendment gov/irb/2011-51_IRB/ar13, the bankruptcy trustee may request a determination of any unpaid tax liability incurred by the bankruptcy estate during the administration of the case, by filing a tax return and a request for such determination with the IRS. File tax amendment Unless the return is fraudulent or contains a material misrepresentation, the estate, trustee, debtor, and any successor to the debtor are discharged from liability upon payment of the tax: As determined by the IRS, As determined by the bankruptcy court, after completion of the IRS examination, or As shown on the return, if the IRS does not: Notify the trustee within 60 days after the request for determination that the return has been selected for examination, or Complete the examination and notify the trustee of any tax due within 180 days after the request (or any additional time permitted by the bankruptcy court). File tax amendment Making the request for determination. File tax amendment   As detailed in Rev. File tax amendment Proc. File tax amendment 2006-24, as modified by Announcement 2011-77, to request a prompt determination of any unpaid tax liability of the estate, the trustee must file a signed written request, in duplicate, with the Internal Revenue Service, Centralized Insolvency Operation, P. File tax amendment O. File tax amendment Box 7346, Philadelphia, PA 19101–7346 (marked “Request for Prompt Determination”). File tax amendment   The request must be submitted in duplicate and must be executed under penalties of perjury. File tax amendment In addition, the trustee must submit along with the request an exact copy of the return(s) filed by the trustee with the IRS for each completed tax period. File tax amendment The request must contain the following information: A statement indicating that it is a Request for Prompt Determination of Tax Liability, specifying the type of return and tax period for each return being filed. File tax amendment The name and location of the office where the return was filed. File tax amendment The name of the debtor. File tax amendment Debtor's social security number, TIN, or EIN. File tax amendment Type of bankruptcy estate. File tax amendment Bankruptcy case number. File tax amendment Court where the bankruptcy case is pending. File tax amendment   The copy of the return(s) submitted with the request must be an exact copy of a valid return. File tax amendment A request for prompt determination will be considered incomplete and returned to the trustee if it is filed with a copy of a document that does not qualify as a valid return. File tax amendment    To qualify as valid, a return must meet certain criteria, including a signature under penalties of perjury. File tax amendment A document filed by the trustee with the jurat stricken, deleted, or modified will not qualify as a valid return. File tax amendment Examination of return. File tax amendment   The IRS will notify the trustee within 60 days from receipt of the request whether the return filed by the trustee has been selected for examination or has been accepted as filed. File tax amendment If the return is selected for examination, it will be examined as soon as possible. File tax amendment The IRS will notify the trustee of any tax due within 180 days from receipt of the application or within any additional time permitted by the bankruptcy court. File tax amendment   If a prompt determination request is incomplete, all the documents received by the IRS will be returned to the trustee by the assigned Field Insolvency Office with an explanation identifying the missing item(s) and instructions to re-file the request once corrected. File tax amendment   Once corrected, the request must be filed with the IRS at the Field Insolvency Office address specified in the correspondence accompanying the returned incomplete request. File tax amendment   In the case of an incomplete request submitted with a copy of an invalid return document, the trustee must file a valid original return with the appropriate IRS office and submit a copy of that return with the corrected request when the request is re-filed. File tax amendment Note. File tax amendment An incomplete request includes those submitted with a copy of a return form, the original of which does not qualify as a valid return. File tax amendment   The 60-day period to notify the trustee whether the return is accepted as filed or has been selected for examination does not begin to run until a complete request package is recei