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Fill Out 1040ez

How To File For 2011 TaxesH And R Block Free State FileCheap State Tax Filing2012 State Tax FormFile Back Taxes Free OnlineAmended TaxFile A 1040ez OnlineMilitary Hr BlockIrs Form 1040ez 2012Free 1040xIrs Efile Form 4868Tax Forms 1040 EzTaxwise SoftwareFile 2010 State Tax ReturnIrs Gov Amended ReturnTax Forms For 20082010 Irs Form 1040ez1040x Irs FormBankruptcy Married Filing Income Taxes SeparatelyFiling 1040ez FormWww Irs Gov1040ez Free Online FilingHow Do I File 2011 TaxesHow To File An Amendment For TaxesTax Adjustment FormTurbo Tax Filing 20122010 Tax Form 1040xFree 2012 State Tax Filing1040x Amended Return FormFile My Taxes For FreeEfile State Tax2012 Free Taxes OnlineFree File Taxes 2011Amend A Federal Tax ReturnWho Can Use 1040ezHow To File 2007 Taxes Online FreeAarp Tax Help Locations1040 Form 2012Can I File Previous Years Taxes Online2009 1040x

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Fill out 1040ez Publication 721 - Introductory Material Table of Contents Reminders IntroductionOrdering forms and publications. Fill out 1040ez Tax questions. Fill out 1040ez Useful Items - You may want to see: Reminders Future developments. Fill out 1040ez  For the latest information about developments related to Publication 721, such as legislation enacted after it was published, go to www. Fill out 1040ez IRS. Fill out 1040ez gov/pub721. Fill out 1040ez Phased retirement. Fill out 1040ez   The new phased retirement program was signed into law by the Moving Ahead for Progress in the 21st Century Act and will be available for retirement eligible individuals once the regulations for this program are effective. Fill out 1040ez This new program will allow eligible employees to begin receiving annuity payments while working part-time. Fill out 1040ez For more information, go to the Office of Personnel Management (OPM) website at www. Fill out 1040ez opm. Fill out 1040ez gov. Fill out 1040ez Roth Thrift Savings Plan (TSP) balance. Fill out 1040ez  You may be able to contribute to a designated Roth account through the TSP known as the Roth TSP. Fill out 1040ez Roth TSP contributions are after-tax contributions, subject to the same contribution limits as the traditional TSP. Fill out 1040ez Qualified distributions from a Roth TSP are not included in your income. Fill out 1040ez See Thrift Savings Plan in Part II for more information. Fill out 1040ez Rollovers. Fill out 1040ez  You can roll over certain amounts from the CSRS, FERS, or TSP, to a tax-sheltered annuity plan (403(b) plan) or a state or local government section 457 deferred compensation plan. Fill out 1040ez See Rollover Rules in Part II. Fill out 1040ez Rollovers by surviving spouse. Fill out 1040ez  You may be able to roll over a distribution you receive as the surviving spouse of a deceased employee or retiree into a qualified retirement plan or an IRA. Fill out 1040ez See Rollover Rules in Part II. Fill out 1040ez Thrift Savings Plan (TSP) beneficiary participant accounts. Fill out 1040ez  If you are the spouse beneficiary of a decedent's TSP account, you have the option of leaving the death benefit payment in a TSP account in your own name (a beneficiary participant account). Fill out 1040ez The amounts in the beneficiary participant account are neither taxable or reportable until you choose to make a withdrawal, or otherwise receive a distribution from the account. Fill out 1040ez Benefits for public safety officer's survivors. Fill out 1040ez  A survivor annuity received by the spouse, former spouse, or child of a public safety officer killed in the line of duty generally will be excluded from the recipient's income. Fill out 1040ez For more information, see Dependents of public safety officers in Part IV. Fill out 1040ez Uniformed services Thrift Savings Plan (TSP) accounts. Fill out 1040ez  If you have a uniformed services TSP account, it may include contributions from combat zone pay. Fill out 1040ez This pay is tax-exempt and contributions attributable to that pay are tax-exempt when they are distributed from the uniformed services TSP account. Fill out 1040ez However, any earnings on those contributions are subject to tax when they are distributed. Fill out 1040ez The statement you receive from the TSP will separately state the total amount of your distribution and the amount of your taxable distribution for the year. Fill out 1040ez If you have both a civilian and a uniformed services TSP account, you should apply the rules discussed in this publication separately to each account. Fill out 1040ez You can get more information from the TSP website, www. Fill out 1040ez tsp. Fill out 1040ez gov, or the TSP Service Office. Fill out 1040ez Photographs of missing children. Fill out 1040ez  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Fill out 1040ez Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Fill out 1040ez You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Fill out 1040ez Introduction This publication explains how the federal income tax rules apply to civil service retirement benefits received by retired federal employees (including those disabled) or their survivors. Fill out 1040ez These benefits are paid primarily under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS). Fill out 1040ez Tax rules for annuity benefits. Fill out 1040ez   Part of the annuity benefits you receive is a tax-free recovery of your contributions to the CSRS or FERS. Fill out 1040ez The rest of your benefits are taxable. Fill out 1040ez If your annuity starting date is after November 18, 1996, you must use the Simplified Method to figure the taxable and tax-free parts. Fill out 1040ez If your annuity starting date is before November 19, 1996, you generally could have chosen to use the Simplified Method or the General Rule. Fill out 1040ez See Part II, Rules for Retirees . Fill out 1040ez Thrift Savings Plan. Fill out 1040ez   The Thrift Savings Plan (TSP) provides federal employees with the same savings and tax benefits that many private employers offer their employees. Fill out 1040ez This plan is similar to private sector 401(k) plans. Fill out 1040ez You can defer tax on part of your pay by having it contributed to your traditional balance in the plan. Fill out 1040ez The contributions and earnings on them are not taxed until they are distributed to you. Fill out 1040ez Also the TSP offers a Roth TSP option. Fill out 1040ez Contributions to this type of balance are after tax and qualified distributions from the account are tax free. Fill out 1040ez See Thrift Savings Plan in Part II. Fill out 1040ez Comments and suggestions. Fill out 1040ez   We welcome your comments about this publication and your suggestions for future editions. Fill out 1040ez   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Fill out 1040ez NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Fill out 1040ez Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Fill out 1040ez   You can send your comments from www. Fill out 1040ez irs. Fill out 1040ez gov/formspubs/. Fill out 1040ez Click on “More Information” and then on “Comment on Tax Forms and Publications”. Fill out 1040ez   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Fill out 1040ez Ordering forms and publications. Fill out 1040ez   Visit www. Fill out 1040ez irs. Fill out 1040ez gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Fill out 1040ez Internal Revenue Service 1201 N. Fill out 1040ez Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Fill out 1040ez   If you have a tax question, check the information available on IRS. Fill out 1040ez gov or call 1-800-829-1040. Fill out 1040ez We cannot answer tax questions sent to either of the above addresses. Fill out 1040ez Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 575 Pension and Annuity Income 590 Individual Retirement Arrangements (IRAs) 939 General Rule for Pensions and Annuities Form (and Instructions) CSA 1099R Statement of Annuity Paid CSF 1099R Statement of Survivor Annuity Paid W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Fill out 1040ez 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts See How To Get Tax Help near the end of this publication for information about getting publications and forms. Fill out 1040ez Prev  Up  Next   Home   More Online Publications
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Understanding Your CP72 Notice

You may have claimed a frivolous position on your tax return. A frivolous return is identified when some information on the return has no basis in the law.


What you need to do

  • File a corrected return within 30 days of the notice

You may want to

  • Review this notice with your tax preparer
  • Read about deductions and credits in Publication 17
  • Call us at the number shown on your notice
  • Review the Publication 2105 you received

Answers to Common Questions

What is this notice telling me?
Based on information on your return, it appears you have taken a frivolous position. A frivolous position is one that has no basis in the law.

What do I have to do?
Within 30 days of the notice date, you must file a corrected return removing the frivolous position. If you don't, a penalty of $5000 can be assessed on each frivolous return filed.


Tax publications you may find useful

The Truth About Frivolous Tax Arguments

Page Last Reviewed or Updated: 06-Mar-2014

Printable samples of this notice (PDF)

 

 

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The Fill Out 1040ez

Fill out 1040ez Internal Revenue Bulletin:  2011-12  March 21, 2011  Rev. Fill out 1040ez Proc. Fill out 1040ez 2011-21 Table of Contents SECTION 1. Fill out 1040ez PURPOSE SECTION 2. Fill out 1040ez BACKGROUND SECTION 3. Fill out 1040ez SCOPE SECTION 4. Fill out 1040ez APPLICATION SECTION 5. Fill out 1040ez EFFECTIVE DATE SECTION 6. Fill out 1040ez EFFECT ON OTHER DOCUMENTS SECTION 7. Fill out 1040ez DRAFTING INFORMATION SECTION 1. Fill out 1040ez PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2011, including separate tables of limitations on depreciation deductions for trucks and vans; (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2011, including a separate table of inclusion amounts for lessees of trucks and vans; and (3) revised tables of depreciation limitations and lessee inclusion amounts for passenger automobiles that were first placed in service or first leased by the taxpayer, respectively, during 2010 and to which the 50 percent additional first year depreciation deduction under § 168(k)(1)(A) of the Internal Revenue Code or the 100 percent additional first year depreciation deduction under § 168(k)(5) applies. Fill out 1040ez The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7). Fill out 1040ez SECTION 2. Fill out 1040ez BACKGROUND . Fill out 1040ez 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. Fill out 1040ez For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. Fill out 1040ez The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. Fill out 1040ez This change reflects the higher rate of price inflation for trucks and vans since 1988. Fill out 1040ez . Fill out 1040ez 02 Section 2022(a) of the Small Business Jobs Act of 2010, Pub. Fill out 1040ez L. Fill out 1040ez No. Fill out 1040ez 111-240, 124 Stat. Fill out 1040ez 2504 (September 27, 2010), extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property (as defined in § 168(k)(2)) acquired by the taxpayer after December 31, 2007, and before January 1, 2011, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2011. Fill out 1040ez Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. Fill out 1040ez L. Fill out 1040ez No. Fill out 1040ez 111-312, 124 Stat. Fill out 1040ez 3296 (Dec. Fill out 1040ez 17, 2010) (the “Act”) further extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. Fill out 1040ez Section 401(b) of the Act further amended § 168(k) by adding § 168(k)(5). Fill out 1040ez It allows a 100 percent additional first year depreciation deduction for qualified property acquired by a taxpayer after September 8, 2010, and before January 1, 2012, if the taxpayer places the property in service generally before January 1, 2012. Fill out 1040ez Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. Fill out 1040ez . Fill out 1040ez 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). Fill out 1040ez Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. Fill out 1040ez Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv). Fill out 1040ez Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. Fill out 1040ez This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2011 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. Fill out 1040ez . Fill out 1040ez 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. Fill out 1040ez The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. Fill out 1040ez Under § 1. Fill out 1040ez 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. Fill out 1040ez One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. Fill out 1040ez Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. Fill out 1040ez SECTION 3. Fill out 1040ez SCOPE . Fill out 1040ez 01 The limitations on depreciation deductions in section 4. Fill out 1040ez 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2011, and continue to apply for each taxable year that the passenger automobile remains in service. Fill out 1040ez . Fill out 1040ez 02 The tables in section 4. Fill out 1040ez 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2011. Fill out 1040ez Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. Fill out 1040ez See Rev. Fill out 1040ez Proc. Fill out 1040ez 2006-18, 2006-1 C. Fill out 1040ez B. Fill out 1040ez 645, for passenger automobiles first leased during calendar year 2006; Rev. Fill out 1040ez Proc. Fill out 1040ez 2007-30, 2007-1 C. Fill out 1040ez B. Fill out 1040ez 1104, for passenger automobiles first leased during calendar year 2007; Rev. Fill out 1040ez Proc. Fill out 1040ez 2008-22, 2008-1 C. Fill out 1040ez B. Fill out 1040ez 658, for passenger automobiles first leased during calendar year 2008; Rev. Fill out 1040ez Proc. Fill out 1040ez 2009-24, 2009-1 C. Fill out 1040ez B. Fill out 1040ez 885, for passenger automobiles first leased during calendar year 2009; and Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18, 2010-1 C. Fill out 1040ez B. Fill out 1040ez 427, as amplified and modified by section 4. Fill out 1040ez 03 of this revenue procedure, for passenger automobiles first leased during calendar year 2010. Fill out 1040ez SECTION 4. Fill out 1040ez APPLICATION . Fill out 1040ez 01 Limitations on Depreciation Deductions for Certain Automobiles. Fill out 1040ez (1) Amount of the inflation adjustment. Fill out 1040ez (a) Passenger automobiles (other than trucks or vans). Fill out 1040ez Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. Fill out 1040ez Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. Fill out 1040ez The new car component of the CPI was 115. Fill out 1040ez 2 for October 1987 and 137. Fill out 1040ez 880 for October 2010. Fill out 1040ez The October 2010 index exceeded the October 1987 index by 22. Fill out 1040ez 680. Fill out 1040ez Therefore, the automobile price inflation adjustment for 2011 for passenger automobiles (other than trucks and vans) is 19. Fill out 1040ez 69 percent (22. Fill out 1040ez 680/115. Fill out 1040ez 2 x 100%). Fill out 1040ez The dollar limitations in § 280F(a) are multiplied by a factor of 0. Fill out 1040ez 1969, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2011. Fill out 1040ez This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2011. Fill out 1040ez (b) Trucks and vans. Fill out 1040ez To determine the dollar limitations for trucks and vans first placed in service during calendar year 2011, the Service uses the new truck component of the CPI instead of the new car component. Fill out 1040ez The new truck component of the CPI was 112. Fill out 1040ez 4 for October 1987 and 142. Fill out 1040ez 556 for October 2010. Fill out 1040ez The October 2010 index exceeded the October 1987 index by 30. Fill out 1040ez 156. Fill out 1040ez Therefore, the automobile price inflation adjustment for 2011 for trucks and vans is 26. Fill out 1040ez 83 percent (30. Fill out 1040ez 156/112. Fill out 1040ez 4 x 100%). Fill out 1040ez The dollar limitations in § 280F(a) are multiplied by a factor of 0. Fill out 1040ez 2683, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. Fill out 1040ez This adjustment applies to all trucks and vans that are first placed in service in calendar year 2011. Fill out 1040ez (2) Amount of the limitation. Fill out 1040ez Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2011. Fill out 1040ez Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction applies. Fill out 1040ez Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction does not apply. Fill out 1040ez The Service intends to issue additional guidance addressing the interaction between the 100 percent additional first year depreciation deduction and § 280F(a) for the taxable years subsequent to the first taxable year. Fill out 1040ez REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 . Fill out 1040ez 02 Inclusions in Income of Lessees of Passenger Automobiles. Fill out 1040ez A taxpayer must follow the procedures in § 1. Fill out 1040ez 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2011. Fill out 1040ez In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. Fill out 1040ez REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $18,500 $19,000 3 8 11 13 16 19,000 19,500 4 9 13 15 18 19,500 20,000 4 10 15 17 20 20,000 20,500 5 11 16 19 23 20,500 21,000 5 12 18 21 25 21,000 21,500 6 13 19 24 26 21,500 22,000 6 14 21 26 29 22,000 23,000 7 16 23 29 32 23,000 24,000 8 18 27 32 37 24,000 25,000 9 20 30 36 42 25,000 26,000 10 23 33 40 46 26,000 27,000 11 25 36 44 51 27,000 28,000 12 27 40 48 55 28,000 29,000 13 29 43 52 60 29,000 30,000 14 31 47 55 65 30,000 31,000 15 34 49 60 69 31,000 32,000 16 36 53 63 73 32,000 33,000 17 38 56 68 77 33,000 34,000 18 40 60 71 82 34,000 35,000 19 42 63 75 87 35,000 36,000 20 45 66 79 91 36,000 37,000 21 47 69 83 96 37,000 38,000 22 49 73 87 100 38,000 39,000 23 51 76 91 105 39,000 40,000 24 53 80 94 110 40,000 41,000 25 56 82 99 114 41,000 42,000 26 58 86 102 119 42,000 43,000 27 60 89 107 123 43,000 44,000 28 62 93 110 128 44,000 45,000 29 64 96 114 133 45,000 46,000 30 67 98 119 137 46,000 47,000 31 69 102 122 141 47,000 48,000 32 71 105 127 145 48,000 49,000 33 73 109 130 150 49,000 50,000 34 76 111 134 155 50,000 51,000 35 78 115 138 159 51,000 52,000 36 80 118 142 164 52,000 53,000 37 82 122 146 168 53,000 54,000 38 84 125 150 173 54,000 55,000 39 87 128 153 178 55,000 56,000 40 89 131 158 182 56,000 57,000 41 91 135 161 187 57,000 58,000 42 93 138 166 191 58,000 59,000 43 95 142 169 196 59,000 60,000 44 98 144 174 200 60,000 62,000 46 101 149 179 207 62,000 64,000 48 105 156 187 216 64,000 66,000 50 109 163 195 225 66,000 68,000 52 114 169 203 234 68,000 70,000 54 118 176 211 243 70,000 72,000 56 123 182 218 253 72,000 74,000 58 127 189 226 262 74,000 76,000 60 132 195 234 270 76,000 78,000 62 136 202 242 279 78,000 80,000 64 140 209 250 288 80,000 85,000 67 148 220 264 304 85,000 90,000 72 159 237 283 327 90,000 95,000 77 170 253 303 350 95,000 100,000 82 181 269 323 372 100,000 110,000 90 198 293 352 406 110,000 120,000 100 220 326 391 452 120,000 130,000 110 242 359 430 497 130,000 140,000 120 264 392 469 543 140,000 150,000 130 286 424 509 588 150,000 160,000 140 308 457 548 633 160,000 170,000 150 330 490 587 679 170,000 180,000 160 352 523 626 724 180,000 190,000 170 374 555 666 769 190,000 200,000 180 396 588 705 815 200,000 210,000 190 418 621 744 860 210,000 220,000 200 440 654 784 904 220,000 230,000 210 462 687 823 950 230,000 240,000 220 484 719 863 995 240,000 And up 230 506 752 902 1,040 REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 3 7 9 12 13 19,500 20,000 3 8 11 14 15 20,000 20,500 4 9 13 15 18 20,500 21,000 4 10 15 17 20 21,000 21,500 5 11 16 20 22 21,500 22,000 5 12 18 22 24 22,000 23,000 6 14 20 24 29 23,000 24,000 7 16 24 28 32 24,000 25,000 8 18 27 32 37 25,000 26,000 9 20 31 36 41 26,000 27,000 10 23 33 40 46 27,000 28,000 11 25 37 43 51 28,000 29,000 12 27 40 48 55 29,000 30,000 13 29 43 52 60 30,000 31,000 14 31 47 56 64 31,000 32,000 15 34 49 60 69 32,000 33,000 16 36 53 63 74 33,000 34,000 17 38 56 68 78 34,000 35,000 18 40 60 71 83 35,000 36,000 19 43 62 76 87 36,000 37,000 20 45 66 79 92 37,000 38,000 21 47 69 83 97 38,000 39,000 22 49 73 87 101 39,000 40,000 23 51 76 91 105 40,000 41,000 24 54 79 95 109 41,000 42,000 25 56 82 99 114 42,000 43,000 26 58 86 103 118 43,000 44,000 27 60 89 107 123 44,000 45,000 28 62 93 110 128 45,000 46,000 29 65 95 115 132 46,000 47,000 30 67 99 118 137 47,000 48,000 31 69 102 123 141 48,000 49,000 32 71 106 126 146 49,000 50,000 33 73 109 130 151 50,000 51,000 34 76 112 134 155 51,000 52,000 35 78 115 138 160 52,000 53,000 36 80 118 143 164 53,000 54,000 37 82 122 146 169 54,000 55,000 38 84 125 150 173 55,000 56,000 39 87 128 154 177 56,000 57,000 40 89 131 158 182 57,000 58,000 41 91 135 162 186 58,000 59,000 42 93 138 166 191 59,000 60,000 43 95 142 169 196 60,000 62,000 45 99 146 175 203 62,000 64,000 47 103 153 183 212 64,000 66,000 49 107 160 191 221 66,000 68,000 51 112 166 199 229 68,000 70,000 53 116 173 206 239 70,000 72,000 55 121 179 214 248 72,000 74,000 57 125 186 222 257 74,000 76,000 59 129 192 231 266 76,000 78,000 61 134 198 239 275 78,000 80,000 63 138 205 246 285 80,000 85,000 66 146 217 260 300 85,000 90,000 71 157 233 280 322 90,000 95,000 76 168 250 299 345 95,000 100,000 81 179 266 319 368 100,000 110,000 89 196 290 348 402 110,000 120,000 99 218 323 387 447 120,000 130,000 109 240 355 427 493 130,000 140,000 119 262 388 466 538 140,000 150,000 129 284 421 505 583 150,000 160,000 139 306 454 544 629 160,000 170,000 149 328 487 583 674 170,000 180,000 159 350 519 623 719 180,000 190,000 169 372 552 662 765 190,000 200,000 179 394 585 701 810 200,000 210,000 189 416 618 740 856 210,000 220,000 199 438 651 779 901 220,000 230,000 209 460 683 819 946 230,000 240,000 219 482 716 858 992 240,000 And up 229 504 749 897 1,037 . Fill out 1040ez 03 Revised Amounts for Passenger Automobiles Placed in Service During 2010. Fill out 1040ez (1) Calculation of the Revised Amount. Fill out 1040ez The revised depreciation limits provided in this section 4. Fill out 1040ez 03 were calculated by increasing the existing limitations on the first year allowance in Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 by $8,000 as provided in § 168(k)(2)(F)(i). Fill out 1040ez (2) Amount of the Revised Limitation. Fill out 1040ez For passenger automobiles (that are not trucks or vans) placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 7 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. Fill out 1040ez For trucks or vans placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 8 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. Fill out 1040ez If the § 168(k) additional first year depreciation deduction does not apply to a passenger automobile placed in service by the taxpayer in calendar year 2010, the depreciation limitations for each taxable year in Tables 1 and 2 of Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 apply. Fill out 1040ez REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 7 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Fill out 1040ez PROC. Fill out 1040ez 2011-21 TABLE 8 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 (3) Modification to lease inclusion amounts for 2010. Fill out 1040ez The lease inclusion amounts in Tables 3 and 4 of Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 are modified by striking the first four lines of the inclusion amounts in each table. Fill out 1040ez Consequently, Table 3 of Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 applies to passenger automobiles (other than trucks and vans) that are first leased by the taxpayer in calendar year 2010 with a fair market value over $18,500, and Table 4 of Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 applies to trucks and vans that are first leased by the taxpayer in calendar year 2010 with a fair market value over $19,000. Fill out 1040ez SECTION 5. Fill out 1040ez EFFECTIVE DATE This revenue procedure, with the exception of section 4. Fill out 1040ez 03, applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2011. Fill out 1040ez Section 4. Fill out 1040ez 03 of this revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. Fill out 1040ez SECTION 6. Fill out 1040ez EFFECT ON OTHER DOCUMENTS Rev. Fill out 1040ez Proc. Fill out 1040ez 2010-18 is amplified and modified. Fill out 1040ez SECTION 7. Fill out 1040ez DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. Fill out 1040ez Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). Fill out 1040ez For further information regarding this revenue procedure, contact Mr. Fill out 1040ez Harvey at (202) 622-4930 (not a toll-free call). Fill out 1040ez Prev  Up  Next   Home   More Internal Revenue Bulletins