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Irs Gov Tax Forms 2012

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Irs Gov Tax Forms 2012

Irs gov tax forms 2012 4. Irs gov tax forms 2012   Tax Withholding and Estimated Tax Table of Contents What's New for 2014 Reminders Introduction Useful Items - You may want to see: Tax Withholding for 2014Salaries and Wages Tips Taxable Fringe Benefits Sick Pay Pensions and Annuities Gambling Winnings Unemployment Compensation Federal Payments Backup Withholding Estimated Tax for 2014Who Does Not Have To Pay Estimated Tax Who Must Pay Estimated Tax How To Figure Estimated Tax When To Pay Estimated Tax How To Figure Each Payment How To Pay Estimated Tax Credit for Withholding and Estimated Tax for 2013Withholding Estimated Tax Underpayment Penalty for 2013 What's New for 2014 Tax law changes for 2014. Irs gov tax forms 2012  When you figure how much income tax you want withheld from your pay and when you figure your estimated tax, consider tax law changes effective in 2014. Irs gov tax forms 2012 For more information, see Publication 505. Irs gov tax forms 2012 Reminders Estimated tax safe harbor for higher income taxpayers. Irs gov tax forms 2012  If your 2013 adjusted gross income was more than $150,000 ($75,000 if you are married filing a separate return), you must pay the smaller of 90% of your expected tax for 2014 or 110% of the tax shown on your 2013 return to avoid an estimated tax penalty. Irs gov tax forms 2012 Introduction This chapter discusses how to pay your tax as you earn or receive income during the year. Irs gov tax forms 2012 In general, the federal income tax is a pay-as-you-go tax. Irs gov tax forms 2012 There are two ways to pay as you go. Irs gov tax forms 2012 Withholding. Irs gov tax forms 2012 If you are an employee, your employer probably withholds income tax from your pay. Irs gov tax forms 2012 Tax also may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. Irs gov tax forms 2012 The amount withheld is paid to the IRS in your name. Irs gov tax forms 2012 Estimated tax. Irs gov tax forms 2012 If you do not pay your tax through withholding, or do not pay enough tax that way, you may have to pay estimated tax. Irs gov tax forms 2012 People who are in business for themselves generally will have to pay their tax this way. Irs gov tax forms 2012 Also, you may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rent, and royalties. Irs gov tax forms 2012 Estimated tax is used to pay not only income tax, but self-employment tax and alternative minimum tax as well. Irs gov tax forms 2012 This chapter explains these methods. Irs gov tax forms 2012 In addition, it also explains the following. Irs gov tax forms 2012 Credit for withholding and estimated tax. Irs gov tax forms 2012 When you file your 2013 income tax return, take credit for all the income tax withheld from your salary, wages, pensions, etc. Irs gov tax forms 2012 , and for the estimated tax you paid for 2013. Irs gov tax forms 2012 Also take credit for any excess social security or railroad retirement tax withheld (discussed in chapter 37). Irs gov tax forms 2012 Underpayment penalty. Irs gov tax forms 2012 If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. Irs gov tax forms 2012 In most cases, the IRS can figure this penalty for you. Irs gov tax forms 2012 See Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) W-4 Employee's Withholding Allowance Certificate W-4P Withholding Certificate for Pension or Annuity Payments W-4S Request for Federal Income Tax Withholding From Sick Pay W-4V Voluntary Withholding Request 1040-ES Estimated Tax for Individuals 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen Tax Withholding for 2014 This section discusses income tax withholding on: Salaries and wages, Tips, Taxable fringe benefits, Sick pay, Pensions and annuities, Gambling winnings, Unemployment compensation, and Certain federal payments. Irs gov tax forms 2012 This section explains the rules for withholding tax from each of these types of income. Irs gov tax forms 2012 This section also covers backup withholding on interest, dividends, and other payments. Irs gov tax forms 2012 Salaries and Wages Income tax is withheld from the pay of most employees. Irs gov tax forms 2012 Your pay includes your regular pay, bonuses, commissions, and vacation allowances. Irs gov tax forms 2012 It also includes reimbursements and other expense allowances paid under a nonaccountable plan. Irs gov tax forms 2012 See Supplemental Wages , later, for more information about reimbursements and allowances paid under a nonaccountable plan. Irs gov tax forms 2012 If your income is low enough that you will not have to pay income tax for the year, you may be exempt from withholding. Irs gov tax forms 2012 This is explained under Exemption From Withholding , later. Irs gov tax forms 2012 You can ask your employer to withhold income tax from noncash wages and other wages not subject to withholding. Irs gov tax forms 2012 If your employer does not agree to withhold tax, or if not enough is withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Irs gov tax forms 2012 Military retirees. Irs gov tax forms 2012   Military retirement pay is treated in the same manner as regular pay for income tax withholding purposes, even though it is treated as a pension or annuity for other tax purposes. Irs gov tax forms 2012 Household workers. Irs gov tax forms 2012   If you are a household worker, you can ask your employer to withhold income tax from your pay. Irs gov tax forms 2012 A household worker is an employee who performs household work in a private home, local college club, or local fraternity or sorority chapter. Irs gov tax forms 2012   Tax is withheld only if you want it withheld and your employer agrees to withhold it. Irs gov tax forms 2012 If you do not have enough income tax withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Irs gov tax forms 2012 Farmworkers. Irs gov tax forms 2012   Generally, income tax is withheld from your cash wages for work on a farm unless your employer does both of these: Pays you cash wages of less than $150 during the year, and Has expenditures for agricultural labor totaling less than $2,500 during the year. Irs gov tax forms 2012 Differential wage payments. Irs gov tax forms 2012    When employees are on leave from employment for military duty, some employers make up the difference between the military pay and civilian pay. Irs gov tax forms 2012 Payments to an employee who is on active duty for a period of more than 30 days will be subject to income tax withholding, but not subject to social security or Medicare taxes. Irs gov tax forms 2012 The wages and withholding will be reported on Form W-2, Wage and Tax Statement. Irs gov tax forms 2012   The credit employers can claim for differential wages paid to activated military reservists is scheduled to expire for wages paid after December 31, 2013. Irs gov tax forms 2012 Determining Amount of Tax Withheld Using Form W-4 The amount of income tax your employer withholds from your regular pay depends on two things. Irs gov tax forms 2012 The amount you earn in each payroll period. Irs gov tax forms 2012 The information you give your employer on Form W-4. Irs gov tax forms 2012 Form W-4 includes four types of information that your employer will use to figure your withholding. Irs gov tax forms 2012 Whether to withhold at the single rate or at the lower married rate. Irs gov tax forms 2012 How many withholding allowances you claim (each allowance reduces the amount withheld). Irs gov tax forms 2012 Whether you want an additional amount withheld. Irs gov tax forms 2012 Whether you are claiming an exemption from withholding in 2014. Irs gov tax forms 2012 See Exemption From Withholding , later. Irs gov tax forms 2012 Note. Irs gov tax forms 2012 You must specify a filing status and a number of withholding allowances on Form W-4. Irs gov tax forms 2012 You cannot specify only a dollar amount of withholding. Irs gov tax forms 2012 New Job When you start a new job, you must fill out Form W-4 and give it to your employer. Irs gov tax forms 2012 Your employer should have copies of the form. Irs gov tax forms 2012 If you need to change the information later, you must fill out a new form. Irs gov tax forms 2012 If you work only part of the year (for example, you start working after the beginning of the year), too much tax may be withheld. Irs gov tax forms 2012 You may be able to avoid overwithholding if your employer agrees to use the part-year method. Irs gov tax forms 2012 See Part-Year Method in chapter 1 of Publication 505 for more information. Irs gov tax forms 2012 Employee also receiving pension income. Irs gov tax forms 2012   If you receive pension or annuity income and begin a new job, you will need to file Form W-4 with your new employer. Irs gov tax forms 2012 However, you can choose to split your withholding allowances between your pension and job in any manner. Irs gov tax forms 2012 Changing Your Withholding During the year changes may occur to your marital status, exemptions, adjustments, deductions, or credits you expect to claim on your tax return. Irs gov tax forms 2012 When this happens, you may need to give your employer a new Form W-4 to change your withholding status or your number of allowances. Irs gov tax forms 2012 If the changes reduce the number of allowances you are claiming or changes your marital status from married to single, you must give your employer a new Form W-4 within 10 days. Irs gov tax forms 2012 Generally, you can submit a new Form W-4 whenever you wish to change the number of your withholding allowances for any other reason. Irs gov tax forms 2012 Changing your withholding for 2015. Irs gov tax forms 2012   If events in 2014 will decrease the number of your withholding allowances for 2015, you must give your employer a new Form W-4 by December 1, 2014. Irs gov tax forms 2012 If the event occurs in December 2014, submit a new Form W-4 within 10 days. Irs gov tax forms 2012 Checking Your Withholding After you have given your employer a Form W-4, you can check to see whether the amount of tax withheld from your pay is too little or too much. Irs gov tax forms 2012 If too much or too little tax is being withheld, you should give your employer a new Form W-4 to change your withholding. Irs gov tax forms 2012 You should try to have your withholding match your actual tax liability. Irs gov tax forms 2012 If not enough tax is withheld, you will owe tax at the end of the year and may have to pay interest and a penalty. Irs gov tax forms 2012 If too much tax is withheld, you will lose the use of that money until you get your refund. Irs gov tax forms 2012 Always check your withholding if there are personal or financial changes in your life or changes in the law that might change your tax liability. Irs gov tax forms 2012 Note. Irs gov tax forms 2012 You cannot give your employer a payment to cover withholding on salaries and wages for past pay periods or a payment for estimated tax. Irs gov tax forms 2012 Completing Form W-4 and Worksheets Form W-4 has worksheets to help you figure how many withholding allowances you can claim. Irs gov tax forms 2012 The worksheets are for your own records. Irs gov tax forms 2012 Do not give them to your employer. Irs gov tax forms 2012 Multiple jobs. Irs gov tax forms 2012   If you have income from more than one job at the same time, complete only one set of Form W-4 worksheets. Irs gov tax forms 2012 Then split your allowances between the Forms W-4 for each job. Irs gov tax forms 2012 You cannot claim the same allowances with more than one employer at the same time. Irs gov tax forms 2012 You can claim all your allowances with one employer and none with the other(s), or divide them any other way. Irs gov tax forms 2012 Married individuals. Irs gov tax forms 2012   If both you and your spouse are employed and expect to file a joint return, figure your withholding allowances using your combined income, adjustments, deductions, exemptions, and credits. Irs gov tax forms 2012 Use only one set of worksheets. Irs gov tax forms 2012 You can divide your total allowances any way, but you cannot claim an allowance that your spouse also claims. Irs gov tax forms 2012   If you and your spouse expect to file separate returns, figure your allowances using separate worksheets based on your own individual income, adjustments, deductions, exemptions, and credits. Irs gov tax forms 2012 Alternative method of figuring withholding allowances. Irs gov tax forms 2012   You do not have to use the Form W-4 worksheets if you use a more accurate method of figuring the number of withholding allowances. Irs gov tax forms 2012 For more information, see Alternative method of figuring withholding allowances under Completing Form W-4 and Worksheets in Publication 505, chapter 1. Irs gov tax forms 2012 Personal Allowances Worksheet. Irs gov tax forms 2012   Use the Personal Allowances Worksheet on Form W-4 to figure your withholding allowances based on exemptions and any special allowances that apply. Irs gov tax forms 2012 Deduction and Adjustments Worksheet. Irs gov tax forms 2012   Use the Deduction and Adjustments Worksheet on Form W-4 if you plan to itemize your deductions, claim certain credits, or claim adjustments to the income on your 2014 tax return and you want to reduce your withholding. Irs gov tax forms 2012 Also, complete this worksheet when you have changes to these items to see if you need to change your withholding. Irs gov tax forms 2012 Two-Earners/Multiple Jobs Worksheet. Irs gov tax forms 2012   You may need to complete the Two-Earners/Multiple Jobs Worksheet on Form W-4 if you have more than one job, a working spouse, or are also receiving a pension. Irs gov tax forms 2012 Also, on this worksheet you can add any additional withholding necessary to cover any amount you expect to owe other than income tax, such as self-employment tax. Irs gov tax forms 2012 Getting the Right Amount of Tax Withheld In most situations, the tax withheld from your pay will be close to the tax you figure on your return if you follow these two rules. Irs gov tax forms 2012 You accurately complete all the Form W-4 worksheets that apply to you. Irs gov tax forms 2012 You give your employer a new Form W-4 when changes occur. Irs gov tax forms 2012 But because the worksheets and withholding methods do not account for all possible situations, you may not be getting the right amount withheld. Irs gov tax forms 2012 This is most likely to happen in the following situations. Irs gov tax forms 2012 You are married and both you and your spouse work. Irs gov tax forms 2012 You have more than one job at a time. Irs gov tax forms 2012 You have nonwage income, such as interest, dividends, alimony, unemployment compensation, or self-employment income. Irs gov tax forms 2012 You will owe additional amounts with your return, such as self-employment tax. Irs gov tax forms 2012 Your withholding is based on obsolete Form W-4 information for a substantial part of the year. Irs gov tax forms 2012 Your earnings are more than the amount shown under Check your withholding in the instructions at the top of page 1 of Form W-4. Irs gov tax forms 2012 You work only part of the year. Irs gov tax forms 2012 You change the number of your withholding allowances during the year. Irs gov tax forms 2012 Cumulative wage method. Irs gov tax forms 2012   If you change the number of your withholding allowances during the year, too much or too little tax may have been withheld for the period before you made the change. Irs gov tax forms 2012 You may be able to compensate for this if your employer agrees to use the cumulative wage withholding method for the rest of the year. Irs gov tax forms 2012 You must ask your employer in writing to use this method. Irs gov tax forms 2012   To be eligible, you must have been paid for the same kind of payroll period (weekly, biweekly, etc. Irs gov tax forms 2012 ) since the beginning of the year. Irs gov tax forms 2012 Publication 505 To make sure you are getting the right amount of tax withheld, get Publication 505. Irs gov tax forms 2012 It will help you compare the total tax to be withheld during the year with the tax you can expect to figure on your return. Irs gov tax forms 2012 It also will help you determine how much, if any, additional withholding is needed each payday to avoid owing tax when you file your return. Irs gov tax forms 2012 If you do not have enough tax withheld, you may have to pay estimated tax, as explained under Estimated Tax for 2014 , later. Irs gov tax forms 2012 You can use the IRS Withholding Calculator at www. Irs gov tax forms 2012 irs. Irs gov tax forms 2012 gov/Individuals, instead of Publication 505 or the worksheets included with Form W-4, to determine whether you need to have your withholding increased or decreased. Irs gov tax forms 2012 Rules Your Employer Must Follow It may be helpful for you to know some of the withholding rules your employer must follow. Irs gov tax forms 2012 These rules can affect how to fill out your Form W-4 and how to handle problems that may arise. Irs gov tax forms 2012 New Form W-4. Irs gov tax forms 2012   When you start a new job, your employer should have you complete a Form W-4. Irs gov tax forms 2012 Beginning with your first payday, your employer will use the information you give on the form to figure your withholding. Irs gov tax forms 2012   If you later fill out a new Form W-4, your employer can put it into effect as soon as possible. Irs gov tax forms 2012 The deadline for putting it into effect is the start of the first payroll period ending 30 or more days after you turn it in. Irs gov tax forms 2012 No Form W-4. Irs gov tax forms 2012   If you do not give your employer a completed Form W-4, your employer must withhold at the highest rate, as if you were single and claimed no withholding allowances. Irs gov tax forms 2012 Repaying withheld tax. Irs gov tax forms 2012   If you find you are having too much tax withheld because you did not claim all the withholding allowances you are entitled to, you should give your employer a new Form W-4. Irs gov tax forms 2012 Your employer cannot repay any of the tax previously withheld. Irs gov tax forms 2012 Instead, claim the full amount withheld when you file your tax return. Irs gov tax forms 2012   However, if your employer has withheld more than the correct amount of tax for the Form W-4 you have in effect, you do not have to fill out a new Form W-4 to have your withholding lowered to the correct amount. Irs gov tax forms 2012 Your employer can repay the amount that was withheld incorrectly. Irs gov tax forms 2012 If you are not repaid, your Form W-2 will reflect the full amount actually withheld, which you would claim when you file your tax return. Irs gov tax forms 2012 Exemption From Withholding If you claim exemption from withholding, your employer will not withhold federal income tax from your wages. Irs gov tax forms 2012 The exemption applies only to income tax, not to social security or Medicare tax. Irs gov tax forms 2012 You can claim exemption from withholding for 2014 only if both of the following situations apply. Irs gov tax forms 2012 For 2013 you had a right to a refund of all federal income tax withheld because you had no tax liability. Irs gov tax forms 2012 For 2014 you expect a refund of all federal income tax withheld because you expect to have no tax liability. Irs gov tax forms 2012 Students. Irs gov tax forms 2012   If you are a student, you are not automatically exempt. Irs gov tax forms 2012 See chapter 1 to find out if you must file a return. Irs gov tax forms 2012 If you work only part time or only during the summer, you may qualify for exemption from withholding. Irs gov tax forms 2012 Age 65 or older or blind. Irs gov tax forms 2012   If you are 65 or older or blind, use Worksheet 1-3 or 1-4 in chapter 1 of Publication 505, to help you decide if you qualify for exemption from withholding. Irs gov tax forms 2012 Do not use either worksheet if you will itemize deductions, claim exemptions for dependents, or claim tax credits on your 2014 return. Irs gov tax forms 2012 Instead, see Itemizing deductions or claiming exemptions or credits in chapter 1 of Publication 505. Irs gov tax forms 2012 Claiming exemption from withholding. Irs gov tax forms 2012   To claim exemption, you must give your employer a Form W-4. Irs gov tax forms 2012 Do not complete lines 5 and 6. Irs gov tax forms 2012 Enter “Exempt” on line 7. Irs gov tax forms 2012   If you claim exemption, but later your situation changes so that you will have to pay income tax after all, you must file a new Form W-4 within 10 days after the change. Irs gov tax forms 2012 If you claim exemption in 2014, but you expect to owe income tax for 2015, you must file a new Form W-4 by December 1, 2014. Irs gov tax forms 2012   Your claim of exempt status may be reviewed by the IRS. Irs gov tax forms 2012 An exemption is good for only 1 year. Irs gov tax forms 2012   You must give your employer a new Form W-4 by February 15 each year to continue your exemption. Irs gov tax forms 2012 Supplemental Wages Supplemental wages include bonuses, commissions, overtime pay, vacation allowances, certain sick pay, and expense allowances under certain plans. Irs gov tax forms 2012 The payer can figure withholding on supplemental wages using the same method used for your regular wages. Irs gov tax forms 2012 However, if these payments are identified separately from your regular wages, your employer or other payer of supplemental wages can withhold income tax from these wages at a flat rate. Irs gov tax forms 2012 Expense allowances. Irs gov tax forms 2012   Reimbursements or other expense allowances paid by your employer under a nonaccountable plan are treated as supplemental wages. Irs gov tax forms 2012   Reimbursements or other expense allowances paid under an accountable plan that are more than your proven expenses are treated as paid under a nonaccountable plan if you do not return the excess payments within a reasonable period of time. Irs gov tax forms 2012   For more information about accountable and nonaccountable expense allowance plans, see Reimbursements in chapter 26. Irs gov tax forms 2012 Penalties You may have to pay a penalty of $500 if both of the following apply. Irs gov tax forms 2012 You make statements or claim withholding allowances on your Form W-4 that reduce the amount of tax withheld. Irs gov tax forms 2012 You have no reasonable basis for those statements or allowances at the time you prepare your Form W-4. Irs gov tax forms 2012 There is also a criminal penalty for willfully supplying false or fraudulent information on your Form W-4 or for willfully failing to supply information that would increase the amount withheld. Irs gov tax forms 2012 The penalty upon conviction can be either a fine of up to $1,000 or imprisonment for up to 1 year, or both. Irs gov tax forms 2012 These penalties will apply if you deliberately and knowingly falsify your Form W-4 in an attempt to reduce or eliminate the proper withholding of taxes. Irs gov tax forms 2012 A simple error or an honest mistake will not result in one of these penalties. Irs gov tax forms 2012 For example, a person who has tried to figure the number of withholding allowances correctly, but claims seven when the proper number is six, will not be charged a W-4 penalty. Irs gov tax forms 2012 Tips The tips you receive while working on your job are considered part of your pay. Irs gov tax forms 2012 You must include your tips on your tax return on the same line as your regular pay. Irs gov tax forms 2012 However, tax is not withheld directly from tip income, as it is from your regular pay. Irs gov tax forms 2012 Nevertheless, your employer will take into account the tips you report when figuring how much to withhold from your regular pay. Irs gov tax forms 2012 See chapter 6 for information on reporting your tips to your employer. Irs gov tax forms 2012 For more information on the withholding rules for tip income, see Publication 531, Reporting Tip Income. Irs gov tax forms 2012 How employer figures amount to withhold. Irs gov tax forms 2012   The tips you report to your employer are counted as part of your income for the month you report them. Irs gov tax forms 2012 Your employer can figure your withholding in either of two ways. Irs gov tax forms 2012 By withholding at the regular rate on the sum of your pay plus your reported tips. Irs gov tax forms 2012 By withholding at the regular rate on your pay plus a percentage of your reported tips. Irs gov tax forms 2012 Not enough pay to cover taxes. Irs gov tax forms 2012   If your regular pay is not enough for your employer to withhold all the tax (including income tax and social security and Medicare taxes (or the equivalent railroad retirement tax)) due on your pay plus your tips, you can give your employer money to cover the shortage. Irs gov tax forms 2012 See Giving your employer money for taxes in chapter 6. Irs gov tax forms 2012 Allocated tips. Irs gov tax forms 2012   Your employer should not withhold income tax, Medicare tax, social security tax, or railroad retirement tax on any allocated tips. Irs gov tax forms 2012 Withholding is based only on your pay plus your reported tips. Irs gov tax forms 2012 Your employer should refund to you any incorrectly withheld tax. Irs gov tax forms 2012 See Allocated Tips in chapter 6 for more information. Irs gov tax forms 2012 Taxable Fringe Benefits The value of certain noncash fringe benefits you receive from your employer is considered part of your pay. Irs gov tax forms 2012 Your employer generally must withhold income tax on these benefits from your regular pay. Irs gov tax forms 2012 For information on fringe benefits, see Fringe Benefits under Employee Compensation in chapter 5. Irs gov tax forms 2012 Although the value of your personal use of an employer-provided car, truck, or other highway motor vehicle is taxable, your employer can choose not to withhold income tax on that amount. Irs gov tax forms 2012 Your employer must notify you if this choice is made. Irs gov tax forms 2012 For more information on withholding on taxable fringe benefits, see chapter 1 of Publication 505. Irs gov tax forms 2012 Sick Pay Sick pay is a payment to you to replace your regular wages while you are temporarily absent from work due to sickness or personal injury. Irs gov tax forms 2012 To qualify as sick pay, it must be paid under a plan to which your employer is a party. Irs gov tax forms 2012 If you receive sick pay from your employer or an agent of your employer, income tax must be withheld. Irs gov tax forms 2012 An agent who does not pay regular wages to you may choose to withhold income tax at a flat rate. Irs gov tax forms 2012 However, if you receive sick pay from a third party who is not acting as an agent of your employer, income tax will be withheld only if you choose to have it withheld. Irs gov tax forms 2012 See Form W-4S , later. Irs gov tax forms 2012 If you receive payments under a plan in which your employer does not participate (such as an accident or health plan where you paid all the premiums), the payments are not sick pay and usually are not taxable. Irs gov tax forms 2012 Union agreements. Irs gov tax forms 2012   If you receive sick pay under a collective bargaining agreement between your union and your employer, the agreement may determine the amount of income tax withholding. Irs gov tax forms 2012 See your union representative or your employer for more information. Irs gov tax forms 2012 Form W-4S. Irs gov tax forms 2012   If you choose to have income tax withheld from sick pay paid by a third party, such as an insurance company, you must fill out Form W-4S. Irs gov tax forms 2012 Its instructions contain a worksheet you can use to figure the amount you want withheld. Irs gov tax forms 2012 They also explain restrictions that may apply. Irs gov tax forms 2012   Give the completed form to the payer of your sick pay. Irs gov tax forms 2012 The payer must withhold according to your directions on the form. Irs gov tax forms 2012 Estimated tax. Irs gov tax forms 2012   If you do not request withholding on Form W-4S, or if you do not have enough tax withheld, you may have to make estimated tax payments. Irs gov tax forms 2012 If you do not pay enough tax, either through estimated tax or withholding, or a combination of both, you may have to pay a penalty. Irs gov tax forms 2012 See Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 Pensions and Annuities Income tax usually will be withheld from your pension or annuity distributions unless you choose not to have it withheld. Irs gov tax forms 2012 This rule applies to distributions from: A traditional individual retirement arrangement (IRA); A life insurance company under an endowment, annuity, or life insurance contract; A pension, annuity, or profit-sharing plan; A stock bonus plan; and Any other plan that defers the time you receive compensation. Irs gov tax forms 2012 The amount withheld depends on whether you receive payments spread out over more than 1 year (periodic payments), within 1 year (nonperiodic payments), or as an eligible rollover distribution (ERD). Irs gov tax forms 2012 Income tax withholding from an ERD is mandatory. Irs gov tax forms 2012 More information. Irs gov tax forms 2012   For more information on taxation of annuities and distributions (including ERDs) from qualified retirement plans, see chapter 10. Irs gov tax forms 2012 For information on IRAs, see chapter 17. Irs gov tax forms 2012 For more information on withholding on pensions and annuities, including a discussion of Form W-4P, see Pensions and Annuities in chapter 1 of Publication 505. Irs gov tax forms 2012 Gambling Winnings Income tax is withheld at a flat 25% rate from certain kinds of gambling winnings. Irs gov tax forms 2012 Gambling winnings of more than $5,000 from the following sources are subject to income tax withholding. Irs gov tax forms 2012 Any sweepstakes; wagering pool, including payments made to winners of poker tournaments; or lottery. Irs gov tax forms 2012 Any other wager, if the proceeds are at least 300 times the amount of the bet. Irs gov tax forms 2012 It does not matter whether your winnings are paid in cash, in property, or as an annuity. Irs gov tax forms 2012 Winnings not paid in cash are taken into account at their fair market value. Irs gov tax forms 2012 Exception. Irs gov tax forms 2012   Gambling winnings from bingo, keno, and slot machines generally are not subject to income tax withholding. Irs gov tax forms 2012 However, you may need to provide the payer with a social security number to avoid withholding. Irs gov tax forms 2012 See Backup withholding on gambling winnings in chapter 1 of Publication 505. Irs gov tax forms 2012 If you receive gambling winnings not subject to withholding, you may need to pay estimated tax. Irs gov tax forms 2012 See Estimated Tax for 2014 , later. Irs gov tax forms 2012 If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs gov tax forms 2012 See Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 Form W-2G. Irs gov tax forms 2012   If a payer withholds income tax from your gambling winnings, you should receive a Form W-2G, Certain Gambling Winnings, showing the amount you won and the amount withheld. Irs gov tax forms 2012 Report the tax withheld on line 62 of Form 1040. Irs gov tax forms 2012 Unemployment Compensation You can choose to have income tax withheld from unemployment compensation. Irs gov tax forms 2012 To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Irs gov tax forms 2012 All unemployment compensation is taxable. Irs gov tax forms 2012 So, if you do not have income tax withheld, you may have to pay estimated tax. Irs gov tax forms 2012 See Estimated Tax for 2014 , later. Irs gov tax forms 2012 If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs gov tax forms 2012 For information, see Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 Federal Payments You can choose to have income tax withheld from certain federal payments you receive. Irs gov tax forms 2012 These payments are: Social security benefits, Tier 1 railroad retirement benefits, Commodity credit corporation loans you choose to include in your gross income, Payments under the Agricultural Act of 1949 (7 U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 C. Irs gov tax forms 2012 1421 et. Irs gov tax forms 2012 seq. Irs gov tax forms 2012 ), as amended, or title II of the Disaster Assistance Act of 1988, that are treated as insurance proceeds and that you receive because: Your crops were destroyed or damaged by drought, flood, or any other natural disaster, or You were unable to plant crops because of a natural disaster described in (a), and Any other payment under Federal law as determined by the Secretary. Irs gov tax forms 2012 To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Irs gov tax forms 2012 If you do not choose to have income tax withheld, you may have to pay estimated tax. Irs gov tax forms 2012 See Estimated Tax for 2014 , later. Irs gov tax forms 2012 If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs gov tax forms 2012 For information, see Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 More information. Irs gov tax forms 2012   For more information about the tax treatment of social security and railroad retirement benefits, see chapter 11. Irs gov tax forms 2012 Get Publication 225, Farmer's Tax Guide, for information about the tax treatment of commodity credit corporation loans or crop disaster payments. Irs gov tax forms 2012 Backup Withholding Banks or other businesses that pay you certain kinds of income must file an information return (Form 1099) with the IRS. Irs gov tax forms 2012 The information return shows how much you were paid during the year. Irs gov tax forms 2012 It also includes your name and taxpayer identification number (TIN). Irs gov tax forms 2012 TINs are explained in chapter 1 under Social Security Number (SSN) . Irs gov tax forms 2012 These payments generally are not subject to withholding. Irs gov tax forms 2012 However, “backup” withholding is required in certain situations. Irs gov tax forms 2012 Backup withholding can apply to most kinds of payments that are reported on Form 1099. Irs gov tax forms 2012 The payer must withhold at a flat 28% rate in the following situations. Irs gov tax forms 2012 You do not give the payer your TIN in the required manner. Irs gov tax forms 2012 The IRS notifies the payer that the TIN you gave is incorrect. Irs gov tax forms 2012 You are required, but fail, to certify that you are not subject to backup withholding. Irs gov tax forms 2012 The IRS notifies the payer to start withholding on interest or dividends because you have underreported interest or dividends on your income tax return. Irs gov tax forms 2012 The IRS will do this only after it has mailed you four notices over at least a 210-day period. Irs gov tax forms 2012 See Backup Withholding in chapter 1 of Publication 505 for more information. Irs gov tax forms 2012 Penalties. Irs gov tax forms 2012   There are civil and criminal penalties for giving false information to avoid backup withholding. Irs gov tax forms 2012 The civil penalty is $500. Irs gov tax forms 2012 The criminal penalty, upon conviction, is a fine of up to $1,000 or imprisonment of up to 1 year, or both. Irs gov tax forms 2012 Estimated Tax for 2014 Estimated tax is the method used to pay tax on income that is not subject to withholding. Irs gov tax forms 2012 This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. Irs gov tax forms 2012 You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough. Irs gov tax forms 2012 Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. Irs gov tax forms 2012 If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs gov tax forms 2012 If you do not pay enough by the due date of each payment period (see When To Pay Estimated Tax , later), you may be charged a penalty even if you are due a refund when you file your tax return. Irs gov tax forms 2012 For information on when the penalty applies, see Underpayment Penalty for 2013 at the end of this chapter. Irs gov tax forms 2012 Who Does Not Have To Pay Estimated Tax If you receive salaries or wages, you can avoid having to pay estimated tax by asking your employer to take more tax out of your earnings. Irs gov tax forms 2012 To do this, give a new Form W-4 to your employer. Irs gov tax forms 2012 See chapter 1 of Publication 505. Irs gov tax forms 2012 Estimated tax not required. Irs gov tax forms 2012   You do not have to pay estimated tax for 2014 if you meet all three of the following conditions. Irs gov tax forms 2012 You had no tax liability for 2013. Irs gov tax forms 2012 You were a U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 citizen or resident alien for the whole year. Irs gov tax forms 2012 Your 2013 tax year covered a 12-month period. Irs gov tax forms 2012   You had no tax liability for 2013 if your total tax was zero or you did not have to file an income tax return. Irs gov tax forms 2012 For the definition of “total tax” for 2013, see Publication 505, chapter 2. Irs gov tax forms 2012 Who Must Pay Estimated Tax If you owe additional tax for 2013, you may have to pay estimated tax for 2014. Irs gov tax forms 2012 You can use the following general rule as a guide during the year to see if you will have enough withholding, or if you should increase your withholding or make estimated tax payments. Irs gov tax forms 2012 General rule. Irs gov tax forms 2012   In most cases, you must pay estimated tax for 2014 if both of the following apply. Irs gov tax forms 2012 You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. Irs gov tax forms 2012 You expect your withholding plus your refundable credits to be less than the smaller of: 90% of the tax to be shown on your 2014 tax return, or 100% of the tax shown on your 2013 tax return (but see Special rules for farmers, fishermen, and higher income taxpayers, later). Irs gov tax forms 2012 Your 2013 tax return must cover all 12 months. Irs gov tax forms 2012    If the result from using the general rule above suggests that you will not have enough withholding, complete the 2014 Estimated Tax Worksheet in Publication 505 for a more accurate calculation. Irs gov tax forms 2012 Special rules for farmers, fishermen, and higher income taxpayers. Irs gov tax forms 2012   If at least two-thirds of your gross income for tax year 2013 or 2014 is from farming or fishing, substitute 662/3% for 90% in (2a) under the General rule, earlier. Irs gov tax forms 2012 If your AGI for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing a separate return), substitute 110% for 100% in (2b) under General rule , earlier. Irs gov tax forms 2012 See Figure 4-A and Publication 505, chapter 2 for more information. Irs gov tax forms 2012 Figure 4-A. Irs gov tax forms 2012 Do You Have To Pay Estimated Tax? Please click here for the text description of the image. Irs gov tax forms 2012 Figure 4-A Do You Have To Pay Estimated Tax? Aliens. Irs gov tax forms 2012   Resident and nonresident aliens also may have to pay estimated tax. Irs gov tax forms 2012 Resident aliens should follow the rules in this chapter unless noted otherwise. Irs gov tax forms 2012 Nonresident aliens should get Form 1040-ES (NR), U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 Estimated Tax for Nonresident Alien Individuals. Irs gov tax forms 2012   You are an alien if you are not a citizen or national of the United States. Irs gov tax forms 2012 You are a resident alien if you either have a green card or meet the substantial presence test. Irs gov tax forms 2012 For more information about the substantial presence test, see Publication 519, U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 Tax Guide for Aliens. Irs gov tax forms 2012 Married taxpayers. Irs gov tax forms 2012   If you qualify to make joint estimated tax payments, apply the rules discussed here to your joint estimated income. Irs gov tax forms 2012   You and your spouse can make joint estimated tax payments even if you are not living together. Irs gov tax forms 2012   However, you and your spouse cannot make joint estimated tax payments if:  You are legally separated under a decree of divorce or separate maintenance, You and your spouse have different tax years, or Either spouse is a nonresident alien (unless that spouse elected to be treated as a resident alien for tax purposes (see chapter 1 of Publication 519)). Irs gov tax forms 2012   If you do not qualify to make joint estimated tax payments, apply these rules to your separate estimated income. Irs gov tax forms 2012 Making joint or separate estimated tax payments will not affect your choice of filing a joint tax return or separate returns for 2014. Irs gov tax forms 2012 2013 separate returns and 2014 joint return. Irs gov tax forms 2012   If you plan to file a joint return with your spouse for 2014, but you filed separate returns for 2013, your 2013 tax is the total of the tax shown on your separate returns. Irs gov tax forms 2012 You filed a separate return if you filed as single, head of household, or married filing separately. Irs gov tax forms 2012 2013 joint return and 2014 separate returns. Irs gov tax forms 2012   If you plan to file a separate return for 2014 but you filed a joint return for 2013, your 2013 tax is your share of the tax on the joint return. Irs gov tax forms 2012 You file a separate return if you file as single, head of household, or married filing separately. Irs gov tax forms 2012   To figure your share of the tax on the joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2013 using the same filing status as for 2014. Irs gov tax forms 2012 Then multiply the tax on the joint return by the following fraction. Irs gov tax forms 2012     The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Irs gov tax forms 2012 Joe and Heather filed a joint return for 2013 showing taxable income of $48,500 and a tax of $6,386. Irs gov tax forms 2012 Of the $48,500 taxable income, $40,100 was Joe's and the rest was Heather's. Irs gov tax forms 2012 For 2014, they plan to file married filing separately. Irs gov tax forms 2012 Joe figures his share of the tax on the 2013 joint return as follows. Irs gov tax forms 2012   Tax on $40,100 based on a separate return $5,960     Tax on $8,400 based on a separate return 843     Total $6,803     Joe's percentage of total ($5,960 ÷ $6,803) 87. Irs gov tax forms 2012 6%     Joe's share of tax on joint return  ($6,386 × 87. Irs gov tax forms 2012 6%) $5,594   How To Figure Estimated Tax To figure your estimated tax, you must figure your expected adjusted gross income (AGI), taxable income, taxes, deductions, and credits for the year. Irs gov tax forms 2012 When figuring your 2014 estimated tax, it may be helpful to use your income, deductions, and credits for 2013 as a starting point. Irs gov tax forms 2012 Use your 2013 federal tax return as a guide. Irs gov tax forms 2012 You can use Form 1040-ES and Publication 505 to figure your estimated tax. Irs gov tax forms 2012 Nonresident aliens use Form 1040-ES (NR) and Publication 505 to figure estimated tax (see chapter 8 of Publication 519 for more information). Irs gov tax forms 2012 You must make adjustments both for changes in your own situation and for recent changes in the tax law. Irs gov tax forms 2012 For a discussion of these changes, visit IRS. Irs gov tax forms 2012 gov. Irs gov tax forms 2012 For more complete information on how to figure your estimated tax for 2014, see chapter 2 of Publication 505. Irs gov tax forms 2012 When To Pay Estimated Tax For estimated tax purposes, the tax year is divided into four payment periods. Irs gov tax forms 2012 Each period has a specific payment due date. Irs gov tax forms 2012 If you do not pay enough tax by the due date of each payment period, you may be charged a penalty even if you are due a refund when you file your income tax return. Irs gov tax forms 2012 The payment periods and due dates for estimated tax payments are shown next. Irs gov tax forms 2012   For the period: Due date:*     Jan. Irs gov tax forms 2012 1 – March 31 April 15     April 1 – May 31 June 16     June 1 – August 31 Sept. Irs gov tax forms 2012 15     Sept. Irs gov tax forms 2012 1– Dec. Irs gov tax forms 2012 31 Jan. Irs gov tax forms 2012 15, next year     *See Saturday, Sunday, holiday rule and January payment . Irs gov tax forms 2012 Saturday, Sunday, holiday rule. Irs gov tax forms 2012   If the due date for an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday, or legal holiday. Irs gov tax forms 2012 January payment. Irs gov tax forms 2012   If you file your 2014 Form 1040 or Form 1040A by January 31, 2015, and pay the rest of the tax you owe, you do not need to make the payment due on January 15, 2015. Irs gov tax forms 2012 Fiscal year taxpayers. Irs gov tax forms 2012   If your tax year does not start on January 1, see the Form 1040-ES instructions for your payment due dates. Irs gov tax forms 2012 When To Start You do not have to make estimated tax payments until you have income on which you will owe income tax. Irs gov tax forms 2012 If you have income subject to estimated tax during the first payment period, you must make your first payment by the due date for the first payment period. Irs gov tax forms 2012 You can pay all your estimated tax at that time, or you can pay it in installments. Irs gov tax forms 2012 If you choose to pay in installments, make your first payment by the due date for the first payment period. Irs gov tax forms 2012 Make your remaining installment payments by the due dates for the later periods. Irs gov tax forms 2012 No income subject to estimated tax during first period. Irs gov tax forms 2012    If you do not have income subject to estimated tax until a later payment period, you must make your first payment by the due date for that period. Irs gov tax forms 2012 You can pay your entire estimated tax by the due date for that period or you can pay it in installments by the due date for that period and the due dates for the remaining periods. Irs gov tax forms 2012 The following chart shows when to make installment payments. Irs gov tax forms 2012 If you first have income on which you must pay estimated tax: Make a payment  by:* Make later installments by:* Before April 1 April 15 June 16 Sept. Irs gov tax forms 2012 15 Jan. Irs gov tax forms 2012 15 next year April 1–May 31 June 16 Sept. Irs gov tax forms 2012 15 Jan. Irs gov tax forms 2012 15 next year June 1–Aug. Irs gov tax forms 2012 31 Sept. Irs gov tax forms 2012 15 Jan. Irs gov tax forms 2012 15 next year After Aug. Irs gov tax forms 2012 31 Jan. Irs gov tax forms 2012 15 next year (None) *See Saturday, Sunday, holiday rule and January payment . Irs gov tax forms 2012 How much to pay to avoid a penalty. Irs gov tax forms 2012   To determine how much you should pay by each payment due date, see How To Figure Each Payment, next. Irs gov tax forms 2012 How To Figure Each Payment You should pay enough estimated tax by the due date of each payment period to avoid a penalty for that period. Irs gov tax forms 2012 You can figure your required payment for each period by using either the regular installment method or the annualized income installment method. Irs gov tax forms 2012 These methods are described in chapter 2 of Publication 505. Irs gov tax forms 2012 If you do not pay enough during each payment period, you may be charged a penalty even if you are due a refund when you file your tax return. Irs gov tax forms 2012 If the earlier discussion of No income subject to estimated tax during first period or the later discussion of Change in estimated tax applies to you, you may benefit from reading Annualized Income Installment Method in chapter 2 of Publication 505 for information on how to avoid a penalty. Irs gov tax forms 2012 Underpayment penalty. Irs gov tax forms 2012   Under the regular installment method, if your estimated tax payment for any period is less than one-fourth of your estimated tax, you may be charged a penalty for underpayment of estimated tax for that period when you file your tax return. Irs gov tax forms 2012 Under the annualized income installment method, your estimated tax payments vary with your income, but the amount required must be paid each period. Irs gov tax forms 2012 See chapter 4 of Publication 505 for more information. Irs gov tax forms 2012 Change in estimated tax. Irs gov tax forms 2012   After you make an estimated tax payment, changes in your income, adjustments, deductions, credits, or exemptions may make it necessary for you to refigure your estimated tax. Irs gov tax forms 2012 Pay the unpaid balance of your amended estimated tax by the next payment due date after the change or in installments by that date and the due dates for the remaining payment periods. Irs gov tax forms 2012 Estimated Tax Payments Not Required You do not have to pay estimated tax if your withholding in each payment period is at least as much as: One-fourth of your required annual payment, or Your required annualized income installment for that period. Irs gov tax forms 2012 You also do not have to pay estimated tax if you will pay enough through withholding to keep the amount you owe with your return under $1,000. Irs gov tax forms 2012 How To Pay Estimated Tax There are several ways to pay estimated tax. Irs gov tax forms 2012 Credit an overpayment on your 2013 return to your 2014 estimated tax. Irs gov tax forms 2012 Pay by direct transfer from your bank account, or pay by credit or debit card using a pay-by-phone system or the Internet. Irs gov tax forms 2012 Send in your payment (check or money order) with a payment voucher from Form 1040-ES. Irs gov tax forms 2012 Credit an Overpayment If you show an overpayment of tax after completing your Form 1040 or Form 1040A for 2013, you can apply part or all of it to your estimated tax for 2014. Irs gov tax forms 2012 On line 75 of Form 1040, or line 44 of Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Irs gov tax forms 2012 Take the amount you have credited into account when figuring your estimated tax payments. Irs gov tax forms 2012 You cannot have any of the amount you credited to your estimated tax refunded to you until you file your tax return for the following year. Irs gov tax forms 2012 You also cannot use that overpayment in any other way. Irs gov tax forms 2012 Pay Online Paying online is convenient and secure and helps make sure we get your payments on time. Irs gov tax forms 2012 You can pay using either of the following electronic payment methods. Irs gov tax forms 2012 Direct transfer from your bank account. Irs gov tax forms 2012 Credit or debit card. Irs gov tax forms 2012 To pay your taxes online or for more information, go to www. Irs gov tax forms 2012 irs. Irs gov tax forms 2012 gov/e-pay. Irs gov tax forms 2012 Pay by Phone Paying by phone is another safe and secure method of paying electronically. Irs gov tax forms 2012 Use one of the following methods. Irs gov tax forms 2012 Direct transfer from your bank account. Irs gov tax forms 2012 Credit or debit card. Irs gov tax forms 2012 To pay by direct transfer from your bank account, call 1-800-555-4477 (English), 1-800-244-4829 (Espanol). Irs gov tax forms 2012 People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD can call 1-800-733-4829. Irs gov tax forms 2012 To pay using a credit or debit card, you can call one of the following service providers. Irs gov tax forms 2012 There is a convenience fee charged by these providers that varies by provider, card type, and payment amount. Irs gov tax forms 2012 WorldPay 1-888-9-PAY-TAXTM(1-888-972-9829) www. Irs gov tax forms 2012 payUSAtax. Irs gov tax forms 2012 com Official Payments Corporation 1-888-UPAY-TAXTM (1-888-872-9829) www. Irs gov tax forms 2012 officialpayments. Irs gov tax forms 2012 com Link2Gov Corporation 1-888-PAY-1040TM (1-888-729-1040) www. Irs gov tax forms 2012 PAY1040. Irs gov tax forms 2012 com For the latest details on how to pay by phone, go to www. Irs gov tax forms 2012 irs. Irs gov tax forms 2012 gov/e-pay. Irs gov tax forms 2012 Pay by Check or Money Order Using the Estimated Tax Payment Voucher Each payment of estimated tax by check or money order must be accompanied by a payment voucher from Form 1040-ES. Irs gov tax forms 2012 During 2013, if you: made at least one estimated tax payment but not by electronic means, did not use software or a paid preparer to prepare or file your return,  then you should receive a copy of the 2014 Form 1040-ES/V. Irs gov tax forms 2012 The enclosed payment vouchers will be preprinted with your name, address, and social security number. Irs gov tax forms 2012 Using the preprinted vouchers will speed processing, reduce the chance of error, and help save processing costs. Irs gov tax forms 2012 Use the window envelopes that came with your Form 1040-ES package. Irs gov tax forms 2012 If you use your own envelopes, make sure you mail your payment vouchers to the address shown in the Form 1040-ES instructions for the place where you live. Irs gov tax forms 2012 Note. Irs gov tax forms 2012 These criteria can change without notice. Irs gov tax forms 2012 If you do not receive a Form 1040-ES/V package and you are required to make an estimated tax payment, you should go to www. Irs gov tax forms 2012 irs. Irs gov tax forms 2012 gov and print a copy of Form 1040-ES which includes four blank payment vouchers. Irs gov tax forms 2012 Complete one of these and make your payment timely to avoid penalties for paying late. Irs gov tax forms 2012 Do not use the address shown in the Form 1040 or Form 1040A instructions for your estimated tax payments. Irs gov tax forms 2012 If you did not pay estimated tax last year, you can order Form 1040-ES from the IRS (see inside back cover of this publication) or download it from IRS. Irs gov tax forms 2012 gov. Irs gov tax forms 2012 Follow the instructions to make sure you use the vouchers correctly. Irs gov tax forms 2012 Joint estimated tax payments. Irs gov tax forms 2012   If you file a joint return and are making joint estimated tax payments, enter the names and social security numbers on the payment voucher in the same order as they will appear on the joint return. Irs gov tax forms 2012 Change of address. Irs gov tax forms 2012   You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Irs gov tax forms 2012 Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form. Irs gov tax forms 2012 Credit for Withholding and Estimated Tax for 2013 When you file your 2013 income tax return, take credit for all the income tax and excess social security or railroad retirement tax withheld from your salary, wages, pensions, etc. Irs gov tax forms 2012 Also take credit for the estimated tax you paid for 2013. Irs gov tax forms 2012 These credits are subtracted from your total tax. Irs gov tax forms 2012 Because these credits are refundable, you should file a return and claim these credits, even if you do not owe tax. Irs gov tax forms 2012 Two or more employers. Irs gov tax forms 2012   If you had two or more employers in 2013 and were paid wages of more than $113,700, too much social security or tier 1 railroad retirement tax may have been withheld from your pay. Irs gov tax forms 2012 You may be able to claim the excess as a credit against your income tax when you file your return. Irs gov tax forms 2012 See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld in chapter 37. Irs gov tax forms 2012 Withholding If you had income tax withheld during 2013, you should be sent a statement by January 31, 2014, showing your income and the tax withheld. Irs gov tax forms 2012 Depending on the source of your income, you should receive: Form W-2, Wage and Tax Statement, Form W-2G, Certain Gambling Winnings, or A form in the 1099 series. Irs gov tax forms 2012 Forms W-2 and W-2G. Irs gov tax forms 2012   If you file a paper return, always file Form W-2 with your income tax return. Irs gov tax forms 2012 File Form W-2G with your return only if it shows any federal income tax withheld from your winnings. Irs gov tax forms 2012   You should get at least two copies of each form. Irs gov tax forms 2012 If you file a paper return, attach one copy to the front of your federal income tax return. Irs gov tax forms 2012 Keep one copy for your records. Irs gov tax forms 2012 You also should receive copies to file with your state and local returns. Irs gov tax forms 2012 Form W-2 Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. Irs gov tax forms 2012 You should receive a separate Form W-2 from each employer you worked for. Irs gov tax forms 2012 If you stopped working before the end of 2013, your employer could have given you your Form W-2 at any time after you stopped working. Irs gov tax forms 2012 However, your employer must provide or send it to you by January 31, 2014. Irs gov tax forms 2012 If you ask for the form, your employer must send it to you within 30 days after receiving your written request or within 30 days after your final wage payment, whichever is later. Irs gov tax forms 2012 If you have not received your Form W-2 by January 31, you should ask your employer for it. Irs gov tax forms 2012 If you do not receive it by February 15, call the IRS. Irs gov tax forms 2012 Form W-2 shows your total pay and other compensation and the income tax, social security tax, and Medicare tax that was withheld during the year. Irs gov tax forms 2012 Include the federal income tax withheld (as shown in box 2 of Form W-2) on: Line 62 if you file Form 1040, Line 36 if you file Form 1040A, or Line 7 if you file Form 1040EZ. Irs gov tax forms 2012 In addition, Form W-2 is used to report any taxable sick pay you received and any income tax withheld from your sick pay. Irs gov tax forms 2012 Form W-2G If you had gambling winnings in 2013, the payer may have withheld income tax. Irs gov tax forms 2012 If tax was withheld, the payer will give you a Form W-2G showing the amount you won and the amount of tax withheld. Irs gov tax forms 2012 Report the amounts you won on line 21 of Form 1040. Irs gov tax forms 2012 Take credit for the tax withheld on line 62 of Form 1040. Irs gov tax forms 2012 If you had gambling winnings, you must use Form 1040; you cannot use Form 1040A or Form 1040EZ. Irs gov tax forms 2012 The 1099 Series Most forms in the 1099 series are not filed with your return. Irs gov tax forms 2012 These forms should be furnished to you by January 31, 2014 (or, for Forms 1099-B, 1099-S, and certain Forms 1099-MISC, by February 15, 2014). Irs gov tax forms 2012 Unless instructed to file any of these forms with your return, keep them for your records. Irs gov tax forms 2012 There are several different forms in this series, including: Form 1099-B, Proceeds From Broker and Barter Exchange Transactions; Form 1099-DIV, Dividends and Distributions; Form 1099-G, Certain Government Payments; Form 1099-INT, Interest Income; Form 1099-K, Payment Card and Third Party Network Transactions; Form 1099-MISC, Miscellaneous Income; Form 1099-OID, Original Issue Discount; Form 1099-PATR, Taxable Distributions Received from Cooperatives; Form 1099-Q, Payments From Qualified Education Programs; Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Irs gov tax forms 2012 ; Form 1099-S, Proceeds From Real Estate Transactions; Form RRB-1099, Payments by the Railroad Retirement Board. Irs gov tax forms 2012 If you received the types of income reported on some forms in the 1099 series, you may not be able to use Form 1040A or Form 1040EZ. Irs gov tax forms 2012 See the instructions to these forms for details. Irs gov tax forms 2012 Form 1099-R. Irs gov tax forms 2012   Attach Form 1099-R to your paper return if box 4 shows federal income tax withheld. Irs gov tax forms 2012 Include the amount withheld in the total on line 62 of Form 1040 or line 36 of Form 1040A. Irs gov tax forms 2012 You cannot use Form 1040EZ if you received payments reported on Form 1099-R. Irs gov tax forms 2012 Backup withholding. Irs gov tax forms 2012   If you were subject to backup withholding on income you received during 2013, include the amount withheld, as shown on your Form 1099, in the total on line 62 of Form 1040, line 36 of Form 1040A, or line 7 of Form 1040EZ. Irs gov tax forms 2012 Form Not Correct If you receive a form with incorrect information on it, you should ask the payer for a corrected form. Irs gov tax forms 2012 Call the telephone number or write to the address given for the payer on the form. Irs gov tax forms 2012 The corrected Form W-2G or Form 1099 you receive will have an “X” in the “CORRECTED” box at the top of the form. Irs gov tax forms 2012 A special form, Form W-2c, Corrected Wage and Tax Statement, is used to correct a Form W-2. Irs gov tax forms 2012 In certain situations, you will receive two forms in place of the original incorrect form. Irs gov tax forms 2012 This will happen when your taxpayer identification number is wrong or missing, your name and address are wrong, or you received the wrong type of form (for example, a Form 1099-DIV instead of a Form 1099-INT). Irs gov tax forms 2012 One new form you receive will be the same incorrect form or have the same incorrect information, but all money amounts will be zero. Irs gov tax forms 2012 This form will have an “X” in the “CORRECTED” box at the top of the form. Irs gov tax forms 2012 The second new form should have all the correct information, prepared as though it is the original (the “CORRECTED” box will not be checked). Irs gov tax forms 2012 Form Received After Filing If you file your return and you later receive a form for income that you did not include on your return, you should report the income and take credit for any income tax withheld by filing Form 1040X, Amended U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 Individual Income Tax Return. Irs gov tax forms 2012 Separate Returns If you are married but file a separate return, you can take credit only for the tax withheld from your own income. Irs gov tax forms 2012 Do not include any amount withheld from your spouse's income. Irs gov tax forms 2012 However, different rules may apply if you live in a community property state. Irs gov tax forms 2012 Community property states are listed in chapter 2. Irs gov tax forms 2012 For more information on these rules, and some exceptions, see Publication 555, Community Property. Irs gov tax forms 2012 Fiscal Years If you file your tax return on the basis of a fiscal year (a 12-month period ending on the last day of any month except December), you must follow special rules to determine your credit for federal income tax withholding. Irs gov tax forms 2012 For a discussion of how to take credit for withholding on a fiscal year return, see Fiscal Years (FY) in chapter 3 of Publication 505. Irs gov tax forms 2012 Estimated Tax Take credit for all your estimated tax payments for 2013 on line 63 of Form 1040 or line 37 of Form 1040A. Irs gov tax forms 2012 Include any overpayment from 2012 that you had credited to your 2013 estimated tax. Irs gov tax forms 2012 You must use Form 1040 or Form 1040A if you paid estimated tax. Irs gov tax forms 2012 You cannot use Form 1040EZ. Irs gov tax forms 2012 Name changed. Irs gov tax forms 2012   If you changed your name, and you made estimated tax payments using your old name, attach a brief statement to the front of your paper tax return indicating: When you made the payments, The amount of each payment, Your name when you made the payments, and Your social security number. Irs gov tax forms 2012 The statement should cover payments you made jointly with your spouse as well as any you made separately. Irs gov tax forms 2012   Be sure to report the change to the Social Security Administration. Irs gov tax forms 2012 This prevents delays in processing your return and issuing any refunds. Irs gov tax forms 2012 Separate Returns If you and your spouse made separate estimated tax payments for 2013 and you file separate returns, you can take credit only for your own payments. Irs gov tax forms 2012 If you made joint estimated tax payments, you must decide how to divide the payments between your returns. Irs gov tax forms 2012 One of you can claim all of the estimated tax paid and the other none, or you can divide it in any other way you agree on. Irs gov tax forms 2012 If you cannot agree, you must divide the payments in proportion to each spouse's individual tax as shown on your separate returns for 2013. Irs gov tax forms 2012 Divorced Taxpayers If you made joint estimated tax payments for 2013, and you were divorced during the year, either you or your former spouse can claim all of the joint payments, or you each can claim part of them. Irs gov tax forms 2012 If you cannot agree on how to divide the payments, you must divide them in proportion to each spouse's individual tax as shown on your separate returns for 2013. Irs gov tax forms 2012 If you claim any of the joint payments on your tax return, enter your former spouse's social security number (SSN) in the space provided on the front of Form 1040 or Form 1040A. Irs gov tax forms 2012 If you divorced and remarried in 2013, enter your present spouse's SSN in that space and write your former spouse's SSN, followed by “DIV,” to the left of Form 1040, line 63, or Form 1040A, line 37. Irs gov tax forms 2012 Underpayment Penalty for 2013 If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have an underpayment of estimated tax and you may have to pay a penalty. Irs gov tax forms 2012 Generally, you will not have to pay a penalty for 2013 if any of the following apply. Irs gov tax forms 2012 The total of your withholding and estimated tax payments was at least as much as your 2012 tax (or 110% of your 2012 tax if your AGI was more than $150,000, $75,000 if your 2013 filing status is married filing separately) and you paid all required estimated tax payments on time. Irs gov tax forms 2012 The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. Irs gov tax forms 2012 Your total 2013 tax minus your withholding and refundable credits is less than $1,000. Irs gov tax forms 2012 You did not have a tax liability for 2012 and your 2012 tax year was 12 months, or You did not have any withholding taxes and your current year tax less any household employment taxes is less than $1,000. Irs gov tax forms 2012 See Publication 505, chapter 4, for a definition of “total tax” for 2012 and 2013. Irs gov tax forms 2012 Farmers and fishermen. Irs gov tax forms 2012   Special rules apply if you are a farmer or fisherman. Irs gov tax forms 2012 See Farmers and Fishermen in chapter 4 of Publication 505 for more information. Irs gov tax forms 2012 IRS can figure the penalty for you. Irs gov tax forms 2012   If you think you owe the penalty but you do not want to figure it yourself when you file your tax return, you may not have to. Irs gov tax forms 2012 Generally, the IRS will figure the penalty for you and send you a bill. Irs gov tax forms 2012 However, if you think you are able to lower or eliminate your penalty, you must complete Form 2210 or Form 2210-F and attach it to your paper return. Irs gov tax forms 2012 See chapter 4 of Publication 505. Irs gov tax forms 2012 Prev  Up  Next   Home   More Online Publications
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The Taxpayer Advocate Service Is Your Voice at the IRS

The Taxpayer Advocate Service (TAS) is an independent organization within the IRS. We help taxpayers who are experiencing economic harm, such as not being able to provide necessities like housing, transportation, or food; taxpayers who are seeking help in resolving problems with the IRS; and those who believe an IRS system or procedure is not working as it should. Here are ten things every taxpayer should know about TAS:

  1. The Taxpayer Advocate Service is your voice at the IRS.
  2. Our service is free and tailored to meet your needs.
  3. You may be eligible for our help if you have tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you believe an IRS procedure just isn't working as it should.
  4. The worst thing you can do is nothing at all!
  5. We help taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. This includes businesses as well as individuals.
  6. If you qualify for our help, we’ll do everything we can to get your problem resolved. You will be assigned to one advocate who will be with you at every turn.
  7. We have at least one local taxpayer advocate office in every state, the District of Columbia, and Puerto Rico. You can call your local advocate, whose number is in your phone book and in Publication 1546, Taxpayer Advocate Service -- Your Voice at the IRS. You can also call our toll-free number at 1-877-777-4778.
  8. As a taxpayer, you have rights that the IRS must abide by in its dealings with you. Our tax toolkit at www.taxtoolkit.irs.gov can help you understand these rights.
  9. TAS also handles large-scale or systemic problems that affect many taxpayers. If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System.
  10. You can get updates on hot tax topics by visiting our YouTube channel at www.youtube.com/tasnta and our Facebook page at http://www.facebook.com/YourVoiceAtIRS, or by following our tweets at http://twitter.com/YourVoiceatIRS
Page Last Reviewed or Updated: 14-Mar-2014

The Irs Gov Tax Forms 2012

Irs gov tax forms 2012 3. Irs gov tax forms 2012   Environmental Taxes Table of Contents Oil Spill Liability Tax ODCs Imported Taxable Products Floor Stocks Tax Environmental taxes are imposed on crude oil and petroleum products (oil spill liability), the sale or use of ozone-depleting chemicals (ODCs), and imported products containing or manufactured with ODCs. Irs gov tax forms 2012 In addition, a floor stocks tax is imposed on ODCs held on January 1 by any person (other than the manufacturer or importer of the ODCs) for sale or for use in further manufacture. Irs gov tax forms 2012 Figure the environmental tax on Form 6627. Irs gov tax forms 2012 Enter the tax on the appropriate lines of Form 720 and attach Form 6627 to Form 720. Irs gov tax forms 2012 For environmental tax purposes, United States includes the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, any possession of the United States, the Commonwealth of the Northern Mariana Islands, the Trust Territory of the Pacific Islands, the continental shelf areas (applying the principles of section 638), and foreign trade zones. Irs gov tax forms 2012 No one is exempt from the environmental taxes, including the federal government, state and local governments, Indian tribal governments, and nonprofit educational organizations. Irs gov tax forms 2012 Oil Spill Liability Tax The oil spill liability tax is reported on Form 6627, Environmental Taxes, and Form 720, Quarterly Federal Excise Tax Return (IRS Nos. Irs gov tax forms 2012 18 and 21). Irs gov tax forms 2012 The oil spill liability tax rate is $. Irs gov tax forms 2012 08 per barrel and generally applies to crude oil received at a U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 refinery and to petroleum products entered into the United States for consumption, use, or warehousing. Irs gov tax forms 2012 The tax also applies to certain uses and the exportation of domestic crude oil. Irs gov tax forms 2012 Crude oil includes crude oil condensates and natural gasoline. Irs gov tax forms 2012 Petroleum products include crude oil, refined and residual oil, and other liquid hydrocarbon refinery products. Irs gov tax forms 2012 Crude oil. Irs gov tax forms 2012   Tax is imposed on crude oil when it is received at a United Sates refinery. Irs gov tax forms 2012 The operator of the refinery is liable for the tax. Irs gov tax forms 2012   Tax is imposed on domestic crude oil used or exported before it is received at a United States refinery. Irs gov tax forms 2012 However, the use of crude oil for extracting oil or natural gas on the premises where such crude oil was produced is not taxable. Irs gov tax forms 2012 The user or exporter is liable for the tax. Irs gov tax forms 2012 Imported petroleum products. Irs gov tax forms 2012   Tax is imposed on petroleum products when they enter the United States for consumption, use, or warehousing. Irs gov tax forms 2012 The person entering the petroleum product into the country is liable for the tax, including the tax on imported crude oil, even if it is subsequently received at a U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 refinery. Irs gov tax forms 2012   Tax is imposed only once on any imported petroleum product. Irs gov tax forms 2012 Thus, the operator of a U. Irs gov tax forms 2012 S. Irs gov tax forms 2012 refinery that receives imported crude oil must establish that the petroleum tax has already been imposed on such crude oil in order not to be liable for the tax. Irs gov tax forms 2012 ODCs For a list of the taxable ODCs and tax rates, see the Form 6627 instructions. Irs gov tax forms 2012 Taxable event. Irs gov tax forms 2012   Tax is imposed on an ODC when it is first used or sold by its manufacturer or importer. Irs gov tax forms 2012 The manufacturer or importer is liable for the tax. Irs gov tax forms 2012 Use of ODCs. Irs gov tax forms 2012   You use an ODC if you put it into service in a trade or business or for the production of income. Irs gov tax forms 2012 Also, an ODC is used if you use it in the making of an article, including incorporation into the article, chemical transformation, or release into the air. Irs gov tax forms 2012 The loss, destruction, packaging, repackaging, or warehousing of ODCs is not a use of the ODC. Irs gov tax forms 2012   The creation of a mixture containing an ODC is treated as a taxable use of the ODC contained in the mixture. Irs gov tax forms 2012 An ODC is contained in a mixture only if the chemical identity of the ODC is not changed. Irs gov tax forms 2012 Generally, tax is imposed when the mixture is created and not on its sale or use. Irs gov tax forms 2012 However, you can choose to have the tax imposed on its sale or use by checking the appropriate box on Form 6627. Irs gov tax forms 2012 You can revoke this choice only with IRS consent. Irs gov tax forms 2012   The creation of a mixture for export or for use as a feedstock is not a taxable use of the ODCs contained in the mixture. Irs gov tax forms 2012 Exceptions. Irs gov tax forms 2012   The following may be exempt from the tax on ODCs. Irs gov tax forms 2012 Metered-dose inhalers. Irs gov tax forms 2012 Recycled ODCs. Irs gov tax forms 2012 Exported ODCs. Irs gov tax forms 2012 ODCs used as feedstock. Irs gov tax forms 2012 Metered-dose inhalers. Irs gov tax forms 2012   There is no tax on ODCs used or sold for use as propellants in metered-dose inhalers. Irs gov tax forms 2012 For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs gov tax forms 2012 The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs gov tax forms 2012 4682-2(d)(5). Irs gov tax forms 2012 The certificate may be included as part of the sales documentation. Irs gov tax forms 2012 Keep the certificate with your records. Irs gov tax forms 2012 Recycled ODCs. Irs gov tax forms 2012   There is no tax on any ODC diverted or recovered in the United States as part of a recycling process (and not as part of the original manufacturing or production process). Irs gov tax forms 2012 There is no tax on recycled Halon-1301 or recycled Halon-2402 imported from a country that has signed the Montreal Protocol on Substances that Deplete the Ozone Layer (Montreal Protocol). Irs gov tax forms 2012   The Montreal Protocol is administered by the United Nations (U. Irs gov tax forms 2012 N. Irs gov tax forms 2012 ). Irs gov tax forms 2012 To determine if a country has signed the Montreal Protocol, contact the U. Irs gov tax forms 2012 N. Irs gov tax forms 2012 The website is untreaty. Irs gov tax forms 2012 un. Irs gov tax forms 2012 org. Irs gov tax forms 2012 Exported ODCs. Irs gov tax forms 2012   Generally, there is no tax on ODCs sold for export if certain requirements are met. Irs gov tax forms 2012 For a sale to be nontaxable, you and the purchaser must be registered. Irs gov tax forms 2012 See Form 637, Application for Registration (for Certain Excise Tax Activities). Irs gov tax forms 2012 Also, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs gov tax forms 2012 Keep the certificate with your records. Irs gov tax forms 2012 The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs gov tax forms 2012 4682-5(d)(3). Irs gov tax forms 2012 The tax benefit of this exemption is limited. Irs gov tax forms 2012 For more information, see Regulations section 52. Irs gov tax forms 2012 4682-5. Irs gov tax forms 2012 ODCs used as feedstock. Irs gov tax forms 2012   There is no tax on ODCs sold for use or used as a feedstock. Irs gov tax forms 2012 An ODC is used as a feedstock only if the ODC is entirely consumed in the manufacture of another chemical. Irs gov tax forms 2012 The transformation of an ODC into one or more new compounds qualifies as use as a feedstock, but use of an ODC in a mixture does not qualify. Irs gov tax forms 2012   For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs gov tax forms 2012 The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs gov tax forms 2012 4682-2(d)(2). Irs gov tax forms 2012 Keep the certificate with your records. Irs gov tax forms 2012 Credits or refunds. Irs gov tax forms 2012   A credit or refund (without interest) of tax paid on ODCs may be claimed if a taxed ODC is: Used as a propellant in a metered-dose inhaler (the person who used the ODC as a propellant may file a claim), Exported (the manufacturer may file a claim), or Used as a feedstock (the person who used the ODC may file a claim). Irs gov tax forms 2012 For information on how to file for credits or refunds, see the Instructions for Form 720 or Schedule 6 (Form 8849). Irs gov tax forms 2012 Conditions to allowance for ODCs exported. Irs gov tax forms 2012   To claim a credit or refund for ODCs that are exported, you must have repaid or agreed to repay the tax to the exporter, or obtained the exporter's written consent to allowance of the credit or refund. Irs gov tax forms 2012 You must also have the evidence required by the EPA as proof that the ODCs were exported. Irs gov tax forms 2012 Imported Taxable Products An imported product containing or manufactured with ODCs is subject to tax if it is entered into the United States for consumption, use, or warehousing and is listed in the Imported Products Table. Irs gov tax forms 2012 The Imported Products Table is listed in Regulations section 52. Irs gov tax forms 2012 4682-3(f)(6). Irs gov tax forms 2012 The tax is based on the weight of the ODCs used in the manufacture of the product. Irs gov tax forms 2012 Use the following methods to figure the ODC weight. Irs gov tax forms 2012 The actual (exact) weight of each ODC used as a material in manufacturing the product. Irs gov tax forms 2012 If the actual weight cannot be determined, the ODC weight listed for the product in the Imported Products Table. Irs gov tax forms 2012 However, if you cannot determine the actual weight and the table does not list an ODC weight for the product, the rate of tax is 1% of the entry value of the product. Irs gov tax forms 2012 Taxable event. Irs gov tax forms 2012   Tax is imposed on an imported taxable product when the product is first sold or used by its importer. Irs gov tax forms 2012 The importer is liable for the tax. Irs gov tax forms 2012 Use of imported products. Irs gov tax forms 2012   You use an imported product if you put it into service in a trade or business or for the production of income or use it in the making of an article, including incorporation into the article. Irs gov tax forms 2012 The loss, destruction, packaging, repackaging, warehousing, or repair of an imported product is not a use of that product. Irs gov tax forms 2012 Entry as use. Irs gov tax forms 2012   The importer may choose to treat the entry of a product into the United States as the use of the product. Irs gov tax forms 2012 Tax is imposed on the date of entry instead of when the product is sold or used. Irs gov tax forms 2012 The choice applies to all imported taxable products that you own and have not used when you make the choice and all later entries. Irs gov tax forms 2012 Make the choice by checking the box in Part II of Form 6627. Irs gov tax forms 2012 The choice is effective as of the beginning of the calendar quarter to which the Form 6627 applies. Irs gov tax forms 2012 You can revoke this choice only with IRS consent. Irs gov tax forms 2012 Sale of article incorporating imported product. Irs gov tax forms 2012   The importer may treat the sale of an article manufactured or assembled in the United States as the first sale or use of an imported taxable product incorporated in that article if both the following apply. Irs gov tax forms 2012 The importer has consistently treated the sale of similar items as the first sale or use of similar taxable imported products. Irs gov tax forms 2012 The importer has not chosen to treat entry into the United States as use of the product. Irs gov tax forms 2012 Imported products table. Irs gov tax forms 2012   The table lists all the products that are subject to the tax on imported taxable products and specifies the ODC weight (discussed later) of each product. Irs gov tax forms 2012   Each listing in the table identifies a product by name and includes only products that are described by that name. Irs gov tax forms 2012 Most listings identify a product by both name and Harmonized Tariff Schedule (HTS) heading. Irs gov tax forms 2012 In those cases, a product is included in that listing only if the product is described by that name and the rate of duty on the product is determined by reference to that HTS heading. Irs gov tax forms 2012 A product is included in the listing even if it is manufactured with or contains a different ODC than the one specified in the table. Irs gov tax forms 2012   Part II of the table lists electronic items that are not included within any other list in the table. Irs gov tax forms 2012 An imported product is included in this list only if the product meets one of the following tests. Irs gov tax forms 2012 It is an electronic component whose operation involves the use of nonmechanical amplification or switching devices such as tubes, transistors, and integrated circuits. Irs gov tax forms 2012 It contains components described in (1), which account for more than 15% of the cost of the product. Irs gov tax forms 2012   These components do not include passive electrical devices, such as resistors and capacitors. Irs gov tax forms 2012 Items such as screws, nuts, bolts, plastic parts, and similar specially fabricated parts that may be used to construct an electronic item are not themselves included in the listing for electronic items. Irs gov tax forms 2012 Rules for listing products. Irs gov tax forms 2012   Products are listed in the table according to the following rules. Irs gov tax forms 2012 A product is listed in Part I of the table if it is a mixture containing ODCs. Irs gov tax forms 2012 A product is listed in Part II of the table if the Commissioner has determined that the ODCs used as materials in the manufacture of the product under the predominant method are used for purposes of refrigeration or air conditioning, creating an aerosol or foam, or manufacturing electronic components. Irs gov tax forms 2012 A product is listed in Part III of the table if the Commissioner has determined that the product meets both the following tests. Irs gov tax forms 2012 It is not an imported taxable product. Irs gov tax forms 2012 It would otherwise be included within a list in Part II of the table. Irs gov tax forms 2012   For example, floppy disk drive units are listed in Part III because they are not imported taxable products and would have been included in the Part II list for electronic items not specifically identified, but for their listing in Part III. Irs gov tax forms 2012 ODC weight. Irs gov tax forms 2012   The Table ODC weight of a product is the weight, determined by the Commissioner, of the ODCs used as materials in the manufacture of the product under the predominant method of manufacturing. Irs gov tax forms 2012 The ODC weight is listed in Part II in pounds per single unit of product unless otherwise specified. Irs gov tax forms 2012 Modifying the table. Irs gov tax forms 2012   A manufacturer or importer of a product may request the IRS add a product and its ODC weight to the table. Irs gov tax forms 2012 They also may request the IRS remove a product from the table, or change or specify the ODC weight of a product. Irs gov tax forms 2012 To request a modification, see Regulations section 52. Irs gov tax forms 2012 4682-3(g) for the mailing address and information that must be included in the request. Irs gov tax forms 2012 Floor Stocks Tax Tax is imposed on any ODC held (other than by the manufacturer or importer of the ODC) on January 1 for sale or use in further manufacturing. Irs gov tax forms 2012 The person holding title (as determined under local law) to the ODC is liable for the tax, whether or not delivery has been made. Irs gov tax forms 2012 These chemicals are taxable without regard to the type or size of storage container in which the ODCs are held. Irs gov tax forms 2012 The tax may apply to an ODC whether it is in a 14-ounce can or a 30-pound tank. Irs gov tax forms 2012 You are liable for the floor stocks tax if you hold any of the following on January 1. Irs gov tax forms 2012 At least 400 pounds of ODCs other than halons or methyl chloroform, At least 50 pounds of halons, or At least 1,000 pounds of methyl chloroform. Irs gov tax forms 2012 If you are liable for the tax, prepare an inventory on January 1 of the taxable ODCs held on that date for sale or for use in further manufacturing. Irs gov tax forms 2012 You must pay this floor stocks tax by June 30 of each year. Irs gov tax forms 2012 Report the tax on Form 6627 and Part II of Form 720 for the second calendar quarter. Irs gov tax forms 2012 For the tax rates, see the Form 6627 instructions. Irs gov tax forms 2012 ODCs not subject to floor stocks tax. Irs gov tax forms 2012   The floor stocks tax is not imposed on any of the following ODCs. Irs gov tax forms 2012 ODCs mixed with other ingredients that contribute to achieving the purpose for which the mixture will be used, unless the mixture contains only ODCs and one or more stabilizers. Irs gov tax forms 2012 ODCs contained in a manufactured article in which the ODCs will be used for their intended purpose without being released from the article. Irs gov tax forms 2012 ODCs that have been reclaimed or recycled. Irs gov tax forms 2012 ODCs sold in a qualifying sale for: Use as a feedstock, Export, or Use as a propellant in a metered-dose inhaler. Irs gov tax forms 2012 Prev  Up  Next   Home   More Online Publications