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Printable 1040ez Pdf

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Printable 1040ez Pdf

Printable 1040ez pdf 1. Printable 1040ez pdf   Investment Income Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: General InformationSSN for joint account. Printable 1040ez pdf Custodian account for your child. Printable 1040ez pdf Penalty for failure to supply SSN. Printable 1040ez pdf Certification. Printable 1040ez pdf Underreported interest and dividends. Printable 1040ez pdf How to stop backup withholding due to underreporting. Printable 1040ez pdf How to stop backup withholding due to an incorrect identification number. Printable 1040ez pdf Reporting backup withholding. Printable 1040ez pdf Nonresident aliens. Printable 1040ez pdf Penalties. Printable 1040ez pdf Savings account with parent as trustee. Printable 1040ez pdf Interest IncomeInterest not reported on Form 1099-INT. Printable 1040ez pdf Nominees. Printable 1040ez pdf Incorrect amount. Printable 1040ez pdf Information reporting requirement. Printable 1040ez pdf Taxable Interest — General Below-Market Loans U. Printable 1040ez pdf S. Printable 1040ez pdf Savings Bonds U. Printable 1040ez pdf S. Printable 1040ez pdf Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Discount on Debt InstrumentsOriginal Issue Discount (OID) Market Discount Bonds Discount on Short-Term Obligations Election To Report All Interest as OID When To Report Interest IncomeConstructive receipt. Printable 1040ez pdf How To Report Interest IncomeSchedule B (Form 1040A or 1040). Printable 1040ez pdf Worksheet for savings bonds distributed from a retirement or profit-sharing plan. Printable 1040ez pdf File Form 1099-INT with the IRS. Printable 1040ez pdf Dividends and Other DistributionsDividends not reported on Form 1099-DIV. Printable 1040ez pdf Nominees. Printable 1040ez pdf Ordinary Dividends Capital Gain Distributions Nondividend Distributions Liquidating Distributions Distributions of Stock and Stock Rights Other Distributions How To Report Dividend IncomeElection. Printable 1040ez pdf Independent contractor. Printable 1040ez pdf Investment interest deducted. Printable 1040ez pdf Exception 1. Printable 1040ez pdf Exception 2. Printable 1040ez pdf Undistributed capital gains. Printable 1040ez pdf File Form 1099-DIV with the IRS. Printable 1040ez pdf Stripped Preferred Stock REMICs, FASITs, and Other CDOsREMICs Collateralized Debt Obligations (CDOs) FASITs S CorporationsLimit on losses and deductions. Printable 1040ez pdf Passive activity losses. Printable 1040ez pdf Form 8582. Printable 1040ez pdf Investment ClubsInvestments in name of member. Printable 1040ez pdf Tax Treatment of the Club Topics - This chapter discusses: Interest Income , Discount on Debt Instruments , When To Report Interest Income , How To Report Interest Income , Dividends and Other Distributions , How To Report Dividend Income , Stripped Preferred Stock , Real estate mortgage investment conduits (REMICs), financial asset securitization investment trusts (FASITs), and other collateralized debt obligations (CDOs) , S Corporations , and Investment Clubs . Printable 1040ez pdf Useful Items - You may want to see: Publication 525 Taxable and Nontaxable Income 537 Installment Sales 590 Individual Retirement Arrangements (IRAs) 925 Passive Activity and At-Risk Rules 1212 Guide to Original Issue Discount (OID) Instruments Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends Schedule D (Form 1040) Capital Gains and Losses 1040 U. Printable 1040ez pdf S. Printable 1040ez pdf Individual Income Tax Return 1040A U. Printable 1040ez pdf S. Printable 1040ez pdf Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1099 General Instructions for Certain Information Returns 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 3115 Application for Change in Accounting Method 6251 Alternative Minimum Tax — Individuals 8582 Passive Activity Loss Limitations 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends 8815 Exclusion of Interest From Series EE and I U. Printable 1040ez pdf S. Printable 1040ez pdf Savings Bonds Issued After 1989 8818 Optional Form To Record Redemption of Series EE and I U. Printable 1040ez pdf S. Printable 1040ez pdf Savings Bonds Issued After 1989 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets 8960 Net Investment Income Tax—Individuals, Estates, and Trusts See chapter 5, How To Get Tax Help , for information about getting these publications and forms. Printable 1040ez pdf General Information A few items of general interest are covered here. Printable 1040ez pdf Recordkeeping. Printable 1040ez pdf You should keep a list showing sources and investment income amounts you receive during the year. Printable 1040ez pdf Also keep the forms you receive showing your investment income (Forms 1099-INT, Interest Income, and 1099-DIV, Dividends and Distributions, for example) as an important part of your records. Printable 1040ez pdf Net investment income tax (NIIT). Printable 1040ez pdf   Beginning in 2013, you may be subject to the NIIT. Printable 1040ez pdf The NIIT is a 3. Printable 1040ez pdf 8% tax on the lesser of your net investment income or the amount of your modified adjusted gross income (MAGI) that is over a threshold amount based on your filing status. Printable 1040ez pdf    Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household (with qualifying person) $200,000 Qualifying Widow(er) with dependent child $250,000    For more information, see Form 8960 and Instructions for Form 8960. Printable 1040ez pdf Tax on unearned income of certain children. Printable 1040ez pdf   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Printable 1040ez pdf This may happen if all of the following are true. Printable 1040ez pdf The child had more than $2,000 of unearned income. Printable 1040ez pdf The child is required to file a tax return. Printable 1040ez pdf The child was: Under age 18 at the end of 2013, Age 18 at the end of 2013 and did not have earned income that was more than half of the child's support, or A full-time student over age 18 and under age 24 at the end of 2013 and did not have earned income that was more than half of the child's support. Printable 1040ez pdf At least one of the child's parents was alive at the end of 2013. Printable 1040ez pdf The child does not file a joint return for 2013. Printable 1040ez pdf A child born on January 1, 1996, is considered to be age 18 at the end of 2013; a child born on January 1, 1995, is considered to be age 19 at the end of 2013; a child born on January 1, 1990, is considered to be age 24 at the end of 2013. Printable 1040ez pdf   If all of these statements are true, Form 8615 must be completed and attached to the child's tax return. Printable 1040ez pdf If any of these statements is not true, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Printable 1040ez pdf    However, the parent can choose to include the child's interest and dividends on the parent's return if certain requirements are met. Printable 1040ez pdf Use Form 8814 for this purpose. Printable 1040ez pdf   For more information about the tax on unearned income of children and the parents' election, see Publication 929, Tax Rules for Children and Dependents. Printable 1040ez pdf Beneficiary of an estate or trust. Printable 1040ez pdf   Interest, dividends, and other investment income you receive as a beneficiary of an estate or trust is generally taxable income. Printable 1040ez pdf You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Printable 1040ez pdf , from the fiduciary. Printable 1040ez pdf Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Printable 1040ez pdf Social security number (SSN). Printable 1040ez pdf   You must give your name and SSN or individual tax identification number (ITIN) to any person required by federal tax law to make a return, statement, or other document that relates to you. Printable 1040ez pdf This includes payers of interest and dividends. Printable 1040ez pdf If you do not give your SSN or ITIN to the payer of interest, you may have to pay a penalty. Printable 1040ez pdf SSN for joint account. Printable 1040ez pdf   If the funds in a joint account belong to one person, list that person's name first on the account and give that person's SSN to the payer. Printable 1040ez pdf (For information on who owns the funds in a joint account, see Joint accounts , later. Printable 1040ez pdf ) If the joint account contains combined funds, give the SSN of the person whose name is listed first on the account. Printable 1040ez pdf This is because only one name and SSN can be shown on Form 1099. Printable 1040ez pdf   These rules apply both to joint ownership by a married couple and to joint ownership by other individuals. Printable 1040ez pdf For example, if you open a joint savings account with your child using funds belonging to the child, list the child's name first on the account and give the child's SSN. Printable 1040ez pdf Custodian account for your child. Printable 1040ez pdf   If your child is the actual owner of an account that is recorded in your name as custodian for the child, give the child's SSN to the payer. Printable 1040ez pdf For example, you must give your child's SSN to the payer of dividends on stock owned by your child, even though the dividends are paid to you as custodian. Printable 1040ez pdf Penalty for failure to supply SSN. Printable 1040ez pdf   You will be subject to a penalty if, when required, you fail to: Include your SSN on any return, statement, or other document, Give your SSN to another person who must include it on any return, statement, or other document, or Include the SSN of another person on any return, statement, or other document. Printable 1040ez pdf The penalty is $50 for each failure up to a maximum penalty of $100,000 for any calendar year. Printable 1040ez pdf   You will not be subject to this penalty if you can show that your failure to provide the SSN was due to reasonable cause and not to willful neglect. Printable 1040ez pdf   If you fail to supply an SSN, you may also be subject to backup withholding. Printable 1040ez pdf Backup withholding. Printable 1040ez pdf   Your investment income is generally not subject to regular withholding. Printable 1040ez pdf However, it may be subject to backup withholding to ensure that income tax is collected on the income. Printable 1040ez pdf Under backup withholding, the bank, broker, or other payer of interest, original issue discount (OID), dividends, cash patronage dividends, or royalties must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Printable 1040ez pdf   Backup withholding applies if: You do not give the payer your identification number (either a social security number or an employer identification number) in the required manner, The IRS notifies the payer that you gave an incorrect identification number, The IRS notifies the payer that you are subject to backup withholding on interest or dividends because you have underreported interest or dividends on your income tax return, or You are required, but fail, to certify that you are not subject to backup withholding for the reason described in (3). Printable 1040ez pdf Certification. Printable 1040ez pdf   For new accounts paying interest or dividends, you must certify under penalties of perjury that your SSN is correct and that you are not subject to backup withholding. Printable 1040ez pdf Your payer will give you a Form W-9, Request for Taxpayer Identification Number and Certification, or similar form, to make this certification. Printable 1040ez pdf If you fail to make this certification, backup withholding may begin immediately on your new account or investment. Printable 1040ez pdf Underreported interest and dividends. Printable 1040ez pdf   You will be considered to have underreported your interest and dividends if the IRS has determined for a tax year that: You failed to include any part of a reportable interest or dividend payment required to be shown on your return, or You were required to file a return and to include a reportable interest or dividend payment on that return, but you failed to file the return. Printable 1040ez pdf How to stop backup withholding due to underreporting. Printable 1040ez pdf   If you have been notified that you underreported interest or dividends, you can request a determination from the IRS to prevent backup withholding from starting or to stop backup withholding once it has begun. Printable 1040ez pdf You must show that at least one of the following situations applies. Printable 1040ez pdf No underreporting occurred. Printable 1040ez pdf You have a bona fide dispute with the IRS about whether underreporting occurred. Printable 1040ez pdf Backup withholding will cause or is causing an undue hardship, and it is unlikely that you will underreport interest and dividends in the future. Printable 1040ez pdf You have corrected the underreporting by filing a return if you did not previously file one and by paying all taxes, penalties, and interest due for any underreported interest or dividend payments. Printable 1040ez pdf   If the IRS determines that backup withholding should stop, it will provide you with a certification and will notify the payers who were sent notices earlier. Printable 1040ez pdf How to stop backup withholding due to an incorrect identification number. Printable 1040ez pdf   If you have been notified by a payer that you are subject to backup withholding because you have provided an incorrect SSN or employer identification number, you can stop it by following the instructions the payer gives you. Printable 1040ez pdf Reporting backup withholding. Printable 1040ez pdf   If backup withholding is deducted from your interest or dividend income or other reportable payment, the bank or other business must give you an information return for the year (for example, a Form 1099-INT) indicating the amount withheld. Printable 1040ez pdf The information return will show any backup withholding as “Federal income tax withheld. Printable 1040ez pdf ” Nonresident aliens. Printable 1040ez pdf    Generally, payments made to nonresident aliens are not subject to backup withholding. Printable 1040ez pdf You can use Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding, to certify exempt status. Printable 1040ez pdf However, this does not exempt you from the 30% (or lower treaty) withholding rate that may apply to your investment income. Printable 1040ez pdf For information on the 30% rate, see Publication 519, U. Printable 1040ez pdf S. Printable 1040ez pdf Tax Guide for Aliens. Printable 1040ez pdf Penalties. Printable 1040ez pdf   There are civil and criminal penalties for giving false information to avoid backup withholding. Printable 1040ez pdf The civil penalty is $500. Printable 1040ez pdf The criminal penalty, upon conviction, is a fine of up to $1,000, or imprisonment of up to 1 year, or both. Printable 1040ez pdf Where to report investment income. Printable 1040ez pdf   Table 1-1 gives an overview of the forms and schedules to use to report some common types of investment income. Printable 1040ez pdf But see the rest of this publication for detailed information about reporting investment income. Printable 1040ez pdf Joint accounts. Printable 1040ez pdf   If two or more persons hold property (such as a savings account, bond, or stock) as joint tenants, tenants by the entirety, or tenants in common, each person's share of any interest or dividends from the property is determined by local law. Printable 1040ez pdf Community property states. Printable 1040ez pdf   If you are married and receive a distribution that is community income, one-half of the distribution is generally considered to be received by each spouse. Printable 1040ez pdf If you file separate returns, you must each report one-half of any taxable distribution. Printable 1040ez pdf See Publication 555, Community Property, for more information on community income. Printable 1040ez pdf   If the distribution is not considered community property and you and your spouse file separate returns, each of you must report your separate taxable distributions. Printable 1040ez pdf Example. Printable 1040ez pdf You and your spouse have a joint money market account. Printable 1040ez pdf Under state law, half the income from the account belongs to you, and half belongs to your spouse. Printable 1040ez pdf If you file separate returns, you each report half the income. Printable 1040ez pdf Income from property given to a child. Printable 1040ez pdf   Property you give as a parent to your child under the Model Gifts of Securities to Minors Act, the Uniform Gifts to Minors Act, or any similar law becomes the child's property. Printable 1040ez pdf   Income from the property is taxable to the child, except that any part used to satisfy a legal obligation to support the child is taxable to the parent or guardian having that legal obligation. Printable 1040ez pdf Savings account with parent as trustee. Printable 1040ez pdf   Interest income from a savings account opened for a minor child, but placed in the name and subject to the order of the parents as trustees, is taxable to the child if, under the law of the state in which the child resides, both of the following are true. Printable 1040ez pdf The savings account legally belongs to the child. Printable 1040ez pdf The parents are not legally permitted to use any of the funds to support the child. Printable 1040ez pdf Table 1-1. Printable 1040ez pdf Where To Report Common Types of Investment Income (For detailed information about reporting investment income, see the rest of this publication, especially How To Report Interest Income and How To Report Dividend Income in chapter 1. Printable 1040ez pdf ) Type of Income If you file Form 1040, report on . Printable 1040ez pdf . Printable 1040ez pdf . Printable 1040ez pdf If you can file Form 1040A, report on . Printable 1040ez pdf . Printable 1040ez pdf . Printable 1040ez pdf If you can file Form 1040EZ, report on . Printable 1040ez pdf . Printable 1040ez pdf . Printable 1040ez pdf Tax-exempt interest (Form 1099-INT, box 8) Line 8b Line 8b Space to the left of line 2 (enter “TEI” and the amount) Taxable interest that totals $1,500 or less Line 8a (You may need to file Schedule B as well. Printable 1040ez pdf ) Line 8a (You may need to file Schedule B as well. Printable 1040ez pdf ) Line 2 Taxable interest that totals more than $1,500 Line 8a; also use Schedule B, line 1 Line 8a; also use Schedule B, line 1   Savings bond interest you will exclude because of higher education expenses Schedule B; also use Form 8815 Schedule B; also use Form 8815   Ordinary dividends that total $1,500 or less Line 9a (You may need to file Schedule B as well. Printable 1040ez pdf ) Line 9a (You may need to file Schedule B as well. Printable 1040ez pdf )   Ordinary dividends that total more than $1,500 Line 9a; also use Schedule B, line 5 Line 9a; also use Schedule B, line 5   Qualified dividends (if you do not have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2 Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2   Qualified dividends (if you have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet, line 2 You cannot use Form 1040A    You cannot use Form 1040EZ Capital gain distributions (if you do not have to file Schedule D) Line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3 Line 10; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3   Capital gain distributions (if you have to file Schedule D) Schedule D, line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     Section 1250, 1202, or collectibles gain (Form 1099-DIV, box 2b, 2c, or 2d) Form 8949 and Schedule D     Nondividend distributions (Form 1099-DIV, box 3) Generally not reported*     Undistributed capital gains (Form 2439, boxes 1a - 1d) Schedule D     Gain or loss from sales of stocks or bonds Line 13; also use Form 8949, Schedule D, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet You cannot use Form 1040A   Gain or loss from exchanges of like-kind investment property Line 13; also use Schedule D, Form 8824, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     *Report any amounts in excess of your basis in your mutual fund shares on Form 8949. Printable 1040ez pdf Use Part II if you held the shares more than 1 year. Printable 1040ez pdf Use Part I if you held your mutual fund shares 1 year or less. Printable 1040ez pdf For details on Form 8949, see Reporting Capital Gains and Losses in chapter 4, and the Instructions for Form 8949. Printable 1040ez pdf Accuracy-related penalty. Printable 1040ez pdf   An accuracy-related penalty of 20% can be charged for underpayments of tax due to negligence or disregard of rules or regulations or substantial understatement of tax. Printable 1040ez pdf For information on the penalty and any interest that applies, see Penalties in chapter 2. Printable 1040ez pdf Interest Income This section discusses the tax treatment of different types of interest income. Printable 1040ez pdf In general, any interest that you receive or that is credited to your account and can be withdrawn is taxable income. Printable 1040ez pdf (It does not have to be entered in your passbook. Printable 1040ez pdf ) Exceptions to this rule are discussed later. Printable 1040ez pdf Form 1099-INT. Printable 1040ez pdf   Interest income is generally reported to you on Form 1099-INT, or a similar statement, by banks, savings and loans, and other payers of interest. Printable 1040ez pdf This form shows you the interest you received during the year. Printable 1040ez pdf Keep this form for your records. Printable 1040ez pdf You do not have to attach it to your tax return. Printable 1040ez pdf   Report on your tax return the total interest income you receive for the tax year. Printable 1040ez pdf Interest not reported on Form 1099-INT. Printable 1040ez pdf   Even if you do not receive Form 1099-INT, you must still report all of your interest income. Printable 1040ez pdf For example, you may receive distributive shares of interest from partnerships or S corporations. Printable 1040ez pdf This interest is reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Printable 1040ez pdf , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Printable 1040ez pdf Nominees. Printable 1040ez pdf   Generally, if someone receives interest as a nominee for you, that person must give you a Form 1099-INT showing the interest received on your behalf. Printable 1040ez pdf   If you receive a Form 1099-INT that includes amounts belonging to another person, see the discussion on Nominee distributions , later, under How To Report Interest Income. Printable 1040ez pdf Incorrect amount. Printable 1040ez pdf   If you receive a Form 1099-INT that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Printable 1040ez pdf The new Form 1099-INT you receive will be marked “Corrected. Printable 1040ez pdf ” Form 1099-OID. Printable 1040ez pdf   Reportable interest income also may be shown on Form 1099-OID, Original Issue Discount. Printable 1040ez pdf For more information about amounts shown on this form, see Original Issue Discount (OID) , later in this chapter. Printable 1040ez pdf Exempt-interest dividends. Printable 1040ez pdf   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Printable 1040ez pdf (However, see Information reporting requirement , next. Printable 1040ez pdf ) Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Printable 1040ez pdf You do not reduce your basis for distributions that are exempt-interest dividends. Printable 1040ez pdf Information reporting requirement. Printable 1040ez pdf   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file. Printable 1040ez pdf This is an information reporting requirement and does not change the exempt-interest dividends into taxable income. Printable 1040ez pdf See How To Report Interest Income , later. Printable 1040ez pdf Note. Printable 1040ez pdf Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Printable 1040ez pdf The exempt-interest dividends subject to the alternative minimum tax are shown in box 11 of Form 1099-DIV. Printable 1040ez pdf See Form 6251 and its instructions for more information about this tax. Printable 1040ez pdf Private activity bonds are discussed later under State or Local Government Obligations. Printable 1040ez pdf Interest on VA dividends. Printable 1040ez pdf   Interest on insurance dividends left on deposit with the Department of Veterans Affairs (VA) is not taxable. Printable 1040ez pdf This includes interest paid on dividends on converted United States Government Life Insurance policies and on National Service Life Insurance policies. Printable 1040ez pdf Individual retirement arrangements (IRAs). Printable 1040ez pdf   Interest on a Roth IRA generally is not taxable. Printable 1040ez pdf Interest on a traditional IRA is tax deferred. Printable 1040ez pdf You generally do not include it in your income until you make withdrawals from the IRA. Printable 1040ez pdf See Publication 590 for more information. Printable 1040ez pdf Taxable Interest — General Taxable interest includes interest you receive from bank accounts, loans you make to others, and other sources. Printable 1040ez pdf The following are some sources of taxable interest. Printable 1040ez pdf Dividends that are actually interest. Printable 1040ez pdf   Certain distributions commonly called dividends are actually interest. Printable 1040ez pdf You must report as interest so-called “dividends” on deposits or on share accounts in: Cooperative banks, Credit unions, Domestic building and loan associations, Domestic savings and loan associations, Federal savings and loan associations, and Mutual savings banks. Printable 1040ez pdf  The “dividends” will be shown as interest income on Form 1099-INT. Printable 1040ez pdf Money market funds. Printable 1040ez pdf   Money market funds are offered by nonbank financial institutions such as mutual funds and stock brokerage houses, and pay dividends. Printable 1040ez pdf Generally, amounts you receive from money market funds should be reported as dividends, not as interest. Printable 1040ez pdf Certificates of deposit and other deferred interest accounts. Printable 1040ez pdf   If you open any of these accounts, interest may be paid at fixed intervals of 1 year or less during the term of the account. Printable 1040ez pdf You generally must include this interest in your income when you actually receive it or are entitled to receive it without paying a substantial penalty. Printable 1040ez pdf The same is true for accounts that mature in 1 year or less and pay interest in a single payment at maturity. Printable 1040ez pdf If interest is deferred for more than 1 year, see Original Issue Discount (OID) , later. Printable 1040ez pdf Interest subject to penalty for early withdrawal. Printable 1040ez pdf   If you withdraw funds from a deferred interest account before maturity, you may have to pay a penalty. Printable 1040ez pdf You must report the total amount of interest paid or credited to your account during the year, without subtracting the penalty. Printable 1040ez pdf See Penalty on early withdrawal of savings under How To Report Interest Income, later, for more information on how to report the interest and deduct the penalty. Printable 1040ez pdf Money borrowed to invest in certificate of deposit. Printable 1040ez pdf   The interest you pay on money borrowed from a bank or savings institution to meet the minimum deposit required for a certificate of deposit from the institution and the interest you earn on the certificate are two separate items. Printable 1040ez pdf You must report the total interest you earn on the certificate in your income. Printable 1040ez pdf If you itemize deductions, you can deduct the interest you pay as investment interest, up to the amount of your net investment income. Printable 1040ez pdf See Interest Expenses in chapter 3. Printable 1040ez pdf Example. Printable 1040ez pdf You deposited $5,000 with a bank and borrowed $5,000 from the bank to make up the $10,000 minimum deposit required to buy a 6-month certificate of deposit. Printable 1040ez pdf The certificate earned $575 at maturity in 2013, but you received only $265, which represented the $575 you earned minus $310 interest charged on your $5,000 loan. Printable 1040ez pdf The bank gives you a Form 1099-INT for 2013 showing the $575 interest you earned. Printable 1040ez pdf The bank also gives you a statement showing that you paid $310 interest for 2013. Printable 1040ez pdf You must include the $575 in your income. Printable 1040ez pdf If you itemize your deductions on Schedule A (Form 1040), Itemized Deductions, you can deduct $310, subject to the net investment income limit. Printable 1040ez pdf Gift for opening account. Printable 1040ez pdf   If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest. Printable 1040ez pdf   For deposits of less than $5,000, gifts or services valued at more than $10 must be reported as interest. Printable 1040ez pdf For deposits of $5,000 or more, gifts or services valued at more than $20 must be reported as interest. Printable 1040ez pdf The value is determined by the cost to the financial institution. Printable 1040ez pdf Example. Printable 1040ez pdf You open a savings account at your local bank and deposit $800. Printable 1040ez pdf The account earns $20 interest. Printable 1040ez pdf You also receive a $15 calculator. Printable 1040ez pdf If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. Printable 1040ez pdf You must report $35 interest income on your tax return. Printable 1040ez pdf Interest on insurance dividends. Printable 1040ez pdf   Interest on insurance dividends left on deposit with an insurance company that can be withdrawn annually is taxable to you in the year it is credited to your account. Printable 1040ez pdf However, if you can withdraw it only on the anniversary date of the policy (or other specified date), the interest is taxable in the year that date occurs. Printable 1040ez pdf Prepaid insurance premiums. Printable 1040ez pdf   Any increase in the value of prepaid insurance premiums, advance premiums, or premium deposit funds is interest if it is applied to the payment of premiums due on insurance policies or made available for you to withdraw. Printable 1040ez pdf U. Printable 1040ez pdf S. Printable 1040ez pdf obligations. Printable 1040ez pdf   Interest on U. Printable 1040ez pdf S. Printable 1040ez pdf obligations, such as U. Printable 1040ez pdf S. Printable 1040ez pdf Treasury bills, notes, and bonds, issued by any agency or instrumentality of the United States is taxable for federal income tax purposes. Printable 1040ez pdf Interest on tax refunds. Printable 1040ez pdf   Interest you receive on tax refunds is taxable income. Printable 1040ez pdf Interest on condemnation award. Printable 1040ez pdf   If the condemning authority pays you interest to compensate you for a delay in payment of an award, the interest is taxable. Printable 1040ez pdf Installment sale payments. Printable 1040ez pdf   If a contract for the sale or exchange of property provides for deferred payments, it also usually provides for interest payable with the deferred payments. Printable 1040ez pdf That interest is taxable when you receive it. Printable 1040ez pdf If little or no interest is provided for in a deferred payment contract, part of each payment may be treated as interest. Printable 1040ez pdf See Unstated Interest and Original Issue Discount (OID) in Publication 537. Printable 1040ez pdf Interest on annuity contract. Printable 1040ez pdf   Accumulated interest on an annuity contract you sell before its maturity date is taxable. Printable 1040ez pdf Usurious interest. Printable 1040ez pdf   Usurious interest is interest charged at an illegal rate. Printable 1040ez pdf This is taxable as interest unless state law automatically changes it to a payment on the principal. Printable 1040ez pdf Interest income on frozen deposits. Printable 1040ez pdf   Exclude from your gross income interest on frozen deposits. Printable 1040ez pdf A deposit is frozen if, at the end of the year, you cannot withdraw any part of the deposit because: The financial institution is bankrupt or insolvent, or The state in which the institution is located has placed limits on withdrawals because other financial institutions in the state are bankrupt or insolvent. Printable 1040ez pdf   The amount of interest you must exclude is the interest that was credited on the frozen deposits minus the sum of: The net amount you withdrew from these deposits during the year, and The amount you could have withdrawn as of the end of the year (not reduced by any penalty for premature withdrawals of a time deposit). Printable 1040ez pdf If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2013, see Frozen deposits under How To Report Interest Income for information about reporting this interest income exclusion on your tax return. Printable 1040ez pdf   The interest you exclude is treated as credited to your account in the following year. Printable 1040ez pdf You must include it in income in the year you can withdraw it. Printable 1040ez pdf Example. Printable 1040ez pdf $100 of interest was credited on your frozen deposit during the year. Printable 1040ez pdf You withdrew $80 but could not withdraw any more as of the end of the year. Printable 1040ez pdf You must include $80 in your income and exclude $20 from your income for the year. Printable 1040ez pdf You must include the $20 in your income for the year you can withdraw it. Printable 1040ez pdf Bonds traded flat. Printable 1040ez pdf    If you buy a bond at a discount when interest has been defaulted or when the interest has accrued but has not been paid, the transaction is described as trading a bond flat. Printable 1040ez pdf The defaulted or unpaid interest is not income and is not taxable as interest if paid later. Printable 1040ez pdf When you receive a payment of that interest, it is a return of capital that reduces the remaining cost basis of your bond. Printable 1040ez pdf Interest that accrues after the date of purchase, however, is taxable interest income for the year received or accrued. Printable 1040ez pdf See Bonds Sold Between Interest Dates , later in this chapter. Printable 1040ez pdf Below-Market Loans If you make a below-market gift or demand loan, you must report as interest income any forgone interest (defined later) from that loan. Printable 1040ez pdf The below-market loan rules and exceptions are described in this section. Printable 1040ez pdf For more information, see section 7872 of the Internal Revenue Code and its regulations. Printable 1040ez pdf If you receive a below-market loan, you may be able to deduct the forgone interest as well as any interest you actually paid, but not if it is personal interest. Printable 1040ez pdf Loans subject to the rules. Printable 1040ez pdf   The rules for below-market loans apply to: Gift loans, Pay-related loans, Corporation-shareholder loans, Tax avoidance loans, and Certain loans made to qualified continuing care facilities under a continuing care contract. Printable 1040ez pdf A pay-related loan is any below-market loan between an employer and an employee or between an independent contractor and a person for whom the contractor provides services. Printable 1040ez pdf A tax avoidance loan is any below-market loan where the avoidance of federal tax is one of the main purposes of the interest arrangement. Printable 1040ez pdf Forgone interest. Printable 1040ez pdf   For any period, forgone interest is: The amount of interest that would be payable for that period if interest accrued on the loan at the applicable federal rate and was payable annually on December 31, minus Any interest actually payable on the loan for the period. Printable 1040ez pdf Applicable federal rate. Printable 1040ez pdf   Applicable federal rates are published by the IRS each month in the Internal Revenue Bulletin. Printable 1040ez pdf Some IRS offices have these bulletins available for research. Printable 1040ez pdf See chapter 5, How To Get Tax Help , for other ways to get this information. Printable 1040ez pdf Rules for below-market loans. Printable 1040ez pdf   The rules that apply to a below-market loan depend on whether the loan is a gift loan, demand loan, or term loan. Printable 1040ez pdf Gift and demand loans. Printable 1040ez pdf   A gift loan is any below-market loan where the forgone interest is in the nature of a gift. Printable 1040ez pdf   A demand loan is a loan payable in full at any time upon demand by the lender. Printable 1040ez pdf A demand loan is a below-market loan if no interest is charged or if interest is charged at a rate below the applicable federal rate. Printable 1040ez pdf   A demand loan or gift loan that is a below-market loan is generally treated as an arm's-length transaction in which the lender is treated as having made: A loan to the borrower in exchange for a note that requires the payment of interest at the applicable federal rate, and An additional payment to the borrower in an amount equal to the forgone interest. Printable 1040ez pdf The borrower is generally treated as transferring the additional payment back to the lender as interest. Printable 1040ez pdf The lender must report that amount as interest income. Printable 1040ez pdf   The lender's additional payment to the borrower is treated as a gift, dividend, contribution to capital, pay for services, or other payment, depending on the substance of the transaction. Printable 1040ez pdf The borrower may have to report this payment as taxable income, depending on its classification. Printable 1040ez pdf These transfers are considered to occur annually, generally on December 31. Printable 1040ez pdf Term loans. Printable 1040ez pdf   A term loan is any loan that is not a demand loan. Printable 1040ez pdf A term loan is a below-market loan if the amount of the loan is more than the present value of all payments due under the loan. Printable 1040ez pdf   A lender who makes a below-market term loan other than a gift loan is treated as transferring an additional lump-sum cash payment to the borrower (as a dividend, contribution to capital, etc. Printable 1040ez pdf ) on the date the loan is made. Printable 1040ez pdf The amount of this payment is the amount of the loan minus the present value, at the applicable federal rate, of all payments due under the loan. Printable 1040ez pdf An equal amount is treated as original issue discount (OID). Printable 1040ez pdf The lender must report the annual part of the OID as interest income. Printable 1040ez pdf The borrower may be able to deduct the OID as interest expense. Printable 1040ez pdf See Original Issue Discount (OID) , later. Printable 1040ez pdf Exceptions to the below-market loan rules. Printable 1040ez pdf   Exceptions to the below-market loan rules are discussed here. Printable 1040ez pdf Exception for loans of $10,000 or less. Printable 1040ez pdf   The rules for below-market loans do not apply to any day on which the total outstanding amount of loans between the borrower and lender is $10,000 or less. Printable 1040ez pdf This exception applies only to: Gift loans between individuals if the gift loan is not directly used to buy or carry income-producing assets, and Pay-related loans or corporation-shareholder loans if the avoidance of federal tax is not a principal purpose of the interest arrangement. Printable 1040ez pdf This exception does not apply to a term loan described in (2) earlier that previously has been subject to the below-market loan rules. Printable 1040ez pdf Those rules will continue to apply even if the outstanding balance is reduced to $10,000 or less. Printable 1040ez pdf Exception for loans to continuing care facilities. Printable 1040ez pdf   Loans to qualified continuing care facilities under continuing care contracts are not subject to the rules for below-market loans for the calendar year if the lender or the lender's spouse is age 62 or older at the end of the year. Printable 1040ez pdf For the definitions of qualified continuing care facility and continuing care contract, see Internal Revenue Code section 7872(h). Printable 1040ez pdf Exception for loans without significant tax effect. Printable 1040ez pdf   Loans are excluded from the below-market loan rules if their interest arrangements do not have a significant effect on the federal tax liability of the borrower or the lender. Printable 1040ez pdf These loans include: Loans made available by the lender to the general public on the same terms and conditions that are consistent with the lender's customary business practice; Loans subsidized by a federal, state, or municipal government that are made available under a program of general application to the public; Certain employee-relocation loans; Certain loans from a foreign person, unless the interest income would be effectively connected with the conduct of a U. Printable 1040ez pdf S. Printable 1040ez pdf trade or business and would not be exempt from U. Printable 1040ez pdf S. Printable 1040ez pdf tax under an income tax treaty; Gift loans to a charitable organization, contributions to which are deductible, if the total outstanding amount of loans between the organization and lender is $250,000 or less at all times during the tax year; and Other loans on which the interest arrangement can be shown to have no significant effect on the federal tax liability of the lender or the borrower. Printable 1040ez pdf For a loan described in (6) above, all the facts and circumstances are used to determine if the interest arrangement has a significant effect on the federal tax liability of the lender or borrower. Printable 1040ez pdf Some factors to be considered are: Whether items of income and deduction generated by the loan offset each other; The amount of these items; The cost to you of complying with the below-market loan rules, if they were to apply; and Any reasons other than taxes for structuring the transaction as a below-market loan. Printable 1040ez pdf If you structure a transaction to meet this exception and one of the principal purposes of that structure is the avoidance of federal tax, the loan will be considered a tax-avoidance loan, and this exception will not apply. Printable 1040ez pdf Limit on forgone interest for gift loans of $100,000 or less. Printable 1040ez pdf   For gift loans between individuals, if the outstanding loans between the lender and borrower total $100,000 or less, the forgone interest to be included in income by the lender and deducted by the borrower is limited to the amount of the borrower's net investment income for the year. Printable 1040ez pdf If the borrower's net investment income is $1,000 or less, it is treated as zero. Printable 1040ez pdf This limit does not apply to a loan if the avoidance of federal tax is one of the main purposes of the interest arrangement. Printable 1040ez pdf Effective dates. Printable 1040ez pdf    These rules apply to term loans made after June 6, 1984, and to demand loans outstanding after that date. Printable 1040ez pdf U. Printable 1040ez pdf S. Printable 1040ez pdf Savings Bonds This section provides tax information on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds. Printable 1040ez pdf It explains how to report the interest income on these bonds and how to treat transfers of these bonds. Printable 1040ez pdf U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds currently offered to individuals include Series EE bonds and Series I bonds. Printable 1040ez pdf For other information on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds, write to:  For Series HH/H: Bureau of the Fiscal Service Division of Customer Assistance P. Printable 1040ez pdf O. Printable 1040ez pdf Box 2186 Parkersburg, WV 26106-2186  For Series EE and I paper savings bonds: Bureau of the Fiscal Service Division of Customer Assistance P. Printable 1040ez pdf O. Printable 1040ez pdf Box 7012 Parkersburg, WV 26106-7012  For Series EE and I electronic bonds: Bureau of the Fiscal Service  Division of Customer Assistance P. Printable 1040ez pdf O. Printable 1040ez pdf Box 7015 Parkersburg, WV 26106-7015 Or, on the Internet, visit: www. Printable 1040ez pdf treasurydirect. Printable 1040ez pdf gov/indiv/indiv. Printable 1040ez pdf htm. Printable 1040ez pdf Accrual method taxpayers. Printable 1040ez pdf   If you use an accrual method of accounting, you must report interest on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds each year as it accrues. Printable 1040ez pdf You cannot postpone reporting interest until you receive it or until the bonds mature. Printable 1040ez pdf Cash method taxpayers. Printable 1040ez pdf   If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds when you receive it. Printable 1040ez pdf But see Reporting options for cash method taxpayers , later. Printable 1040ez pdf Series HH bonds. Printable 1040ez pdf   These bonds were issued at face value. Printable 1040ez pdf Interest is paid twice a year by direct deposit to your bank account. Printable 1040ez pdf If you are a cash method taxpayer, you must report interest on these bonds as income in the year you receive it. Printable 1040ez pdf   Series HH bonds were first offered in 1980 and last offered in August 2004. Printable 1040ez pdf Before 1980, series H bonds were issued. Printable 1040ez pdf Series H bonds are treated the same as series HH bonds. Printable 1040ez pdf If you are a cash method taxpayer, you must report the interest when you receive it. Printable 1040ez pdf   Series H bonds have a maturity period of 30 years. Printable 1040ez pdf Series HH bonds mature in 20 years. Printable 1040ez pdf The last series H bonds matured in 2009. Printable 1040ez pdf The last series HH bonds will mature in 2024. Printable 1040ez pdf Series EE and series I bonds. Printable 1040ez pdf   Interest on these bonds is payable when you redeem the bonds. Printable 1040ez pdf The difference between the purchase price and the redemption value is taxable interest. Printable 1040ez pdf Series EE bonds. Printable 1040ez pdf   Series EE bonds were first offered in January 1980 and have a maturity period of 30 years. Printable 1040ez pdf Before July 1980, series E bonds were issued. Printable 1040ez pdf The original 10-year maturity period of series E bonds has been extended to 40 years for bonds issued before December 1965 and 30 years for bonds issued after November 1965. Printable 1040ez pdf Paper series EE and series E bonds are issued at a discount. Printable 1040ez pdf The face value is payable to you at maturity. Printable 1040ez pdf Electronic series EE bonds are issued at their face value. Printable 1040ez pdf The face value plus accrued interest is payable to you at maturity. Printable 1040ez pdf As of January 1, 2012, paper savings bonds were no longer sold at financial institutions. Printable 1040ez pdf    Owners of paper series EE bonds can convert them to electronic bonds. Printable 1040ez pdf These converted bonds do not retain the denomination listed on the paper certificate but are posted at their purchase price (with accrued interest). Printable 1040ez pdf Series I bonds. Printable 1040ez pdf   Series I bonds were first offered in 1998. Printable 1040ez pdf These are inflation-indexed bonds issued at their face amount with a maturity period of 30 years. Printable 1040ez pdf The face value plus all accrued interest is payable to you at maturity. Printable 1040ez pdf Reporting options for cash method taxpayers. Printable 1040ez pdf   If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways. Printable 1040ez pdf Method 1. Printable 1040ez pdf Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year in which they mature. Printable 1040ez pdf (However, see Savings bonds traded , later. Printable 1040ez pdf )  Note. Printable 1040ez pdf Series EE bonds issued in 1983 matured in 2013. Printable 1040ez pdf If you have used method 1, you generally must report the interest on these bonds on your 2013 return. Printable 1040ez pdf The last series E bonds were issued in 1980 and matured in 2010. Printable 1040ez pdf If you used method 1, you generally should have reported the interest on these bonds on your 2010 return. Printable 1040ez pdf Method 2. Printable 1040ez pdf Choose to report the increase in redemption value as interest each year. Printable 1040ez pdf  You must use the same method for all series EE, series E, and series I bonds you own. Printable 1040ez pdf If you do not choose method 2 by reporting the increase in redemption value as interest each year, you must use method 1. Printable 1040ez pdf If you plan to cash your bonds in the same year you will pay for higher educational expenses, you may want to use method 1 because you may be able to exclude the interest from your income. Printable 1040ez pdf To learn how, see Education Savings Bond Program, later. Printable 1040ez pdf Change from method 1. Printable 1040ez pdf   If you want to change your method of reporting the interest from method 1 to method 2, you can do so without permission from the IRS. Printable 1040ez pdf In the year of change, you must report all interest accrued to date and not previously reported for all your bonds. Printable 1040ez pdf   Once you choose to report the interest each year, you must continue to do so for all series EE, series E, and series I bonds you own and for any you get later, unless you request permission to change, as explained next. Printable 1040ez pdf Change from method 2. Printable 1040ez pdf   To change from method 2 to method 1, you must request permission from the IRS. Printable 1040ez pdf Permission for the change is automatically granted if you send the IRS a statement that meets all the following requirements. Printable 1040ez pdf You have typed or printed the following number at the top: “131. Printable 1040ez pdf ” It includes your name and social security number under “131. Printable 1040ez pdf ” It includes the year of change (both the beginning and ending dates). Printable 1040ez pdf It identifies the savings bonds for which you are requesting this change. Printable 1040ez pdf It includes your agreement to: Report all interest on any bonds acquired during or after the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest; and Report all interest on the bonds acquired before the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, with the exception of the interest reported in prior tax years. Printable 1040ez pdf   You must attach this statement to your tax return for the year of change, which you must file by the due date (including extensions). Printable 1040ez pdf   You can have an automatic extension of 6 months from the due date of your return for the year of change (excluding extensions) to file the statement with an amended return. Printable 1040ez pdf On the statement, type or print “Filed pursuant to section 301. Printable 1040ez pdf 9100-2. Printable 1040ez pdf ” To get this extension, you must have filed your original return for the year of the change by the due date (including extensions). Printable 1040ez pdf    By the date you file the original statement with your return, you must also send a signed copy to the address below. Printable 1040ez pdf    Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Printable 1040ez pdf O. Printable 1040ez pdf Box 7604 Benjamin Franklin Station Washington, DC 20044   If you use a private delivery service, send the signed copy to the address below. Printable 1040ez pdf Internal Revenue Service Attention: CC:IT&A  (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW Washington, DC 20224    Instead of filing this statement, you can request permission to change from method 2 to method 1 by filing Form 3115. Printable 1040ez pdf In that case, follow the form instructions for an automatic change. Printable 1040ez pdf No user fee is required. Printable 1040ez pdf Co-owners. Printable 1040ez pdf   If a U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond is issued in the names of co-owners, such as you and your child or you and your spouse, interest on the bond is generally taxable to the co-owner who bought the bond. Printable 1040ez pdf One co-owner's funds used. Printable 1040ez pdf   If you used your funds to buy the bond, you must pay the tax on the interest. Printable 1040ez pdf This is true even if you let the other co-owner redeem the bond and keep all the proceeds. Printable 1040ez pdf Under these circumstances, the co-owner who redeemed the bond will receive a Form 1099-INT at the time of redemption and must provide you with another Form 1099-INT showing the amount of interest from the bond taxable to you. Printable 1040ez pdf The co-owner who redeemed the bond is a “nominee. Printable 1040ez pdf ” See Nominee distributions under How To Report Interest Income, later, for more information about how a person who is a nominee reports interest income belonging to another person. Printable 1040ez pdf Both co-owners' funds used. Printable 1040ez pdf   If you and the other co-owner each contribute part of the bond's purchase price, the interest is generally taxable to each of you, in proportion to the amount each of you paid. Printable 1040ez pdf Community property. Printable 1040ez pdf   If you and your spouse live in a community property state and hold bonds as community property, one-half of the interest is considered received by each of you. Printable 1040ez pdf If you file separate returns, each of you generally must report one-half of the bond interest. Printable 1040ez pdf For more information about community property, see Publication 555. Printable 1040ez pdf Table 1-2. Printable 1040ez pdf   These rules are also shown in Table 1-2. Printable 1040ez pdf Child as only owner. Printable 1040ez pdf   Interest on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds bought for and registered only in the name of your child is income to your child, even if you paid for the bonds and are named as beneficiary. Printable 1040ez pdf If the bonds are series EE, series E, or series I bonds, the interest on the bonds is income to your child in the earlier of the year the bonds are cashed or disposed of or the year the bonds mature, unless your child chooses to report the interest income each year. Printable 1040ez pdf Choice to report interest each year. Printable 1040ez pdf   The choice to report the accrued interest each year can be made either by your child or by you for your child. Printable 1040ez pdf This choice is made by filing an income tax return that shows all the interest earned to date, and by stating on the return that your child chooses to report the interest each year. Printable 1040ez pdf Either you or your child should keep a copy of this return. Printable 1040ez pdf   Unless your child is otherwise required to file a tax return for any year after making this choice, your child does not have to file a return only to report the annual accrual of U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond interest under this choice. Printable 1040ez pdf However, see Tax on unearned income of certain children , earlier, under General Information. Printable 1040ez pdf Neither you nor your child can change the way you report the interest unless you request permission from the IRS, as discussed earlier under Change from method 2 . Printable 1040ez pdf Ownership transferred. Printable 1040ez pdf   If you bought series E, series EE, or series I bonds entirely with your own funds and had them reissued in your co-owner's name or beneficiary's name alone, you must include in your gross income for the year of reissue all interest that you earned on these bonds and have not previously reported. Printable 1040ez pdf But, if the bonds were reissued in your name alone, you do not have to report the interest accrued at that time. Printable 1040ez pdf   This same rule applies when bonds (other than bonds held as community property) are transferred between spouses or incident to divorce. Printable 1040ez pdf Example. Printable 1040ez pdf You bought series EE bonds entirely with your own funds. Printable 1040ez pdf You did not choose to report the accrued interest each year. Printable 1040ez pdf Later, you transfer the bonds to your former spouse under a divorce agreement. Printable 1040ez pdf You must include the deferred accrued interest, from the date of the original issue of the bonds to the date of transfer, in your income in the year of transfer. Printable 1040ez pdf Your former spouse includes in income the interest on the bonds from the date of transfer to the date of redemption. Printable 1040ez pdf Table 1-2. Printable 1040ez pdf Who Pays the Tax on U. Printable 1040ez pdf S. Printable 1040ez pdf Savings Bond Interest IF . Printable 1040ez pdf . Printable 1040ez pdf . Printable 1040ez pdf THEN the interest must be reported by . Printable 1040ez pdf . Printable 1040ez pdf . Printable 1040ez pdf you buy a bond in your name and the name of another person as co-owners, using only your own funds you. Printable 1040ez pdf you buy a bond in the name of another person, who is the sole owner of the bond the person for whom you bought the bond. Printable 1040ez pdf you and another person buy a bond as co-owners, each contributing part of the purchase price both you and the other co-owner, in proportion to the amount each paid for the bond. Printable 1040ez pdf you and your spouse, who live in a community property state, buy a bond that is community property you and your spouse. Printable 1040ez pdf If you file separate returns, both you and your spouse generally report one-half of the interest. Printable 1040ez pdf Purchased jointly. Printable 1040ez pdf   If you and a co-owner each contributed funds to buy series E, series EE, or series I bonds jointly and later have the bonds reissued in the co-owner's name alone, you must include in your gross income for the year of reissue your share of all the interest earned on the bonds that you have not previously reported. Printable 1040ez pdf The former co-owner does not have to include in gross income at the time of reissue his or her share of the interest earned that was not reported before the transfer. Printable 1040ez pdf This interest, however, as well as all interest earned after the reissue, is income to the former co-owner. Printable 1040ez pdf   This income-reporting rule also applies when the bonds are reissued in the name of your former co-owner and a new co-owner. Printable 1040ez pdf But the new co-owner will report only his or her share of the interest earned after the transfer. Printable 1040ez pdf   If bonds that you and a co-owner bought jointly are reissued to each of you separately in the same proportion as your contribution to the purchase price, neither you nor your co-owner has to report at that time the interest earned before the bonds were reissued. Printable 1040ez pdf Example 1. Printable 1040ez pdf You and your spouse each spent an equal amount to buy a $1,000 series EE savings bond. Printable 1040ez pdf The bond was issued to you and your spouse as co-owners. Printable 1040ez pdf You both postpone reporting interest on the bond. Printable 1040ez pdf You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Printable 1040ez pdf At that time neither you nor your spouse has to report the interest earned to the date of reissue. Printable 1040ez pdf Example 2. Printable 1040ez pdf You bought a $1,000 series EE savings bond entirely with your own funds. Printable 1040ez pdf The bond was issued to you and your spouse as co-owners. Printable 1040ez pdf You both postponed reporting interest on the bond. Printable 1040ez pdf You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Printable 1040ez pdf You must report half the interest earned to the date of reissue. Printable 1040ez pdf Transfer to a trust. Printable 1040ez pdf   If you own series E, series EE, or series I bonds and transfer them to a trust, giving up all rights of ownership, you must include in your income for that year the interest earned to the date of transfer if you have not already reported it. Printable 1040ez pdf However, if you are considered the owner of the trust and if the increase in value both before and after the transfer continues to be taxable to you, you can continue to defer reporting the interest earned each year. Printable 1040ez pdf You must include the total interest in your income in the year you cash or dispose of the bonds or the year the bonds finally mature, whichever is earlier. Printable 1040ez pdf   The same rules apply to previously unreported interest on series EE or series E bonds if the transfer to a trust consisted of series HH or series H bonds you acquired in a trade for the series EE or series E bonds. Printable 1040ez pdf See Savings bonds traded , later. Printable 1040ez pdf Decedents. Printable 1040ez pdf   The manner of reporting interest income on series E, series EE, or series I bonds, after the death of the owner (decedent), depends on the accounting and income-reporting methods previously used by the decedent. Printable 1040ez pdf Decedent who reported interest each year. Printable 1040ez pdf   If the bonds transferred because of death were owned by a person who used an accrual method, or who used the cash method and had chosen to report the interest each year, the interest earned in the year of death up to the date of death must be reported on that person's final return. Printable 1040ez pdf The person who acquires the bonds includes in income only interest earned after the date of death. Printable 1040ez pdf Decedent who postponed reporting interest. Printable 1040ez pdf   If the transferred bonds were owned by a decedent who had used the cash method and had not chosen to report the interest each year, and who had bought the bonds entirely with his or her own funds, all interest earned before death must be reported in one of the following ways. Printable 1040ez pdf The surviving spouse or personal representative (executor, administrator, etc. Printable 1040ez pdf ) who files the final income tax return of the decedent can choose to include on that return all interest earned on the bonds before the decedent's death. Printable 1040ez pdf The person who acquires the bonds then includes in income only interest earned after the date of death. Printable 1040ez pdf If the choice in (1) is not made, the interest earned up to the date of death is income in respect of the decedent and should not be included in the decedent's final return. Printable 1040ez pdf All interest earned both before and after the decedent's death (except any part reported by the estate on its income tax return) is income to the person who acquires the bonds. Printable 1040ez pdf If that person uses the cash method and does not choose to report the interest each year, he or she can postpone reporting it until the year the bonds are cashed or disposed of or the year they mature, whichever is earlier. Printable 1040ez pdf In the year that person reports the interest, he or she can claim a deduction for any federal estate tax paid on the part of the interest included in the decedent's estate. Printable 1040ez pdf For more information on income in respect of a decedent, see Publication 559, Survivors, Executors, and Administrators. Printable 1040ez pdf Example 1. Printable 1040ez pdf Your uncle, a cash method taxpayer, died and left you a $1,000 series EE bond. Printable 1040ez pdf He had bought the bond for $500 and had not chosen to report the interest each year. Printable 1040ez pdf At the date of death, interest of $200 had accrued on the bond, and its value of $700 was included in your uncle's estate. Printable 1040ez pdf Your uncle's executor chose not to include the $200 accrued interest in your uncle's final income tax return. Printable 1040ez pdf The $200 is income in respect of the decedent. Printable 1040ez pdf You are a cash method taxpayer and do not choose to report the interest each year as it is earned. Printable 1040ez pdf If you cash the bond when it reaches maturity value of $1,000, you report $500 interest income—the difference between maturity value of $1,000 and the original cost of $500. Printable 1040ez pdf For that year, you can deduct (as a miscellaneous itemized deduction not subject to the 2%-of-adjusted-gross-income limit) any federal estate tax paid because the $200 interest was included in your uncle's estate. Printable 1040ez pdf Example 2. Printable 1040ez pdf If, in Example 1 , the executor had chosen to include the $200 accrued interest in your uncle's final return, you would report only $300 as interest when you cashed the bond at maturity. Printable 1040ez pdf $300 is the interest earned after your uncle's death. Printable 1040ez pdf Example 3. Printable 1040ez pdf If, in Example 1 , you make or have made the choice to report the increase in redemption value as interest each year, you include in gross income for the year you acquire the bond all of the unreported increase in value of all series E, series EE, and series I bonds you hold, including the $200 on the bond you inherited from your uncle. Printable 1040ez pdf Example 4. Printable 1040ez pdf When your aunt died, she owned series HH bonds that she had acquired in a trade for series EE bonds. Printable 1040ez pdf You were the beneficiary of these bonds. Printable 1040ez pdf Your aunt used the cash method and did not choose to report the interest on the series EE bonds each year as it accrued. Printable 1040ez pdf Your aunt's executor chose not to include any interest earned before your aunt's death on her final return. Printable 1040ez pdf The income in respect of the decedent is the sum of the unreported interest on the series EE bonds and the interest, if any, payable on the series HH bonds but not received as of the date of your aunt's death. Printable 1040ez pdf You must report any interest received during the year as income on your return. Printable 1040ez pdf The part of the interest payable but not received before your aunt's death is income in respect of the decedent and may qualify for the estate tax deduction. Printable 1040ez pdf For information on when to report the interest on the series EE bonds traded, see Savings bonds traded , later. Printable 1040ez pdf Savings bonds distributed from a retirement or profit-sharing plan. Printable 1040ez pdf   If you acquire a U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond in a taxable distribution from a retirement or profit-sharing plan, your income for the year of distribution includes the bond's redemption value (its cost plus the interest accrued before the distribution). Printable 1040ez pdf When you redeem the bond (whether in the year of distribution or later), your interest income includes only the interest accrued after the bond was distributed. Printable 1040ez pdf To figure the interest reported as a taxable distribution and your interest income when you redeem the bond, see Worksheet for savings bonds distributed from a retirement or profit-sharing plan under How To Report Interest Income, later. Printable 1040ez pdf Savings bonds traded. Printable 1040ez pdf   If you postponed reporting the interest on your series EE or series E bonds, you did not recognize taxable income when you traded the bonds for series HH or series H bonds, unless you received cash in the trade. Printable 1040ez pdf (You cannot trade series I bonds for series HH bonds. Printable 1040ez pdf After August 31, 2004, you cannot trade any other series of bonds for series HH bonds. Printable 1040ez pdf ) Any cash you received is income up to the amount of the interest earned on the bonds traded. Printable 1040ez pdf When your series HH or series H bonds mature, or if you dispose of them before maturity, you report as interest the difference between their redemption value and your cost. Printable 1040ez pdf Your cost is the sum of the amount you paid for the traded series EE or series E bonds plus any amount you had to pay at the time of the trade. Printable 1040ez pdf Example. Printable 1040ez pdf You traded series EE bonds (on which you postponed reporting the interest) for $2,500 in series HH bonds and $223 in cash. Printable 1040ez pdf You reported the $223 as taxable income on your tax return. Printable 1040ez pdf At the time of the trade, the series EE bonds had accrued interest of $523 and a redemption value of $2,723. Printable 1040ez pdf You hold the series HH bonds until maturity, when you receive $2,500. Printable 1040ez pdf You must report $300 as interest income in the year of maturity. Printable 1040ez pdf This is the difference between their redemption value, $2,500, and your cost, $2,200 (the amount you paid for the series EE bonds). Printable 1040ez pdf (It is also the difference between the accrued interest of $523 on the series EE bonds and the $223 cash received on the trade. Printable 1040ez pdf ) Choice to report interest in year of trade. Printable 1040ez pdf   You could have chosen to treat all of the previously unreported accrued interest on series EE or series E bonds traded for series HH bonds as income in the year of the trade. Printable 1040ez pdf If you made this choice, it is treated as a change from method 1. Printable 1040ez pdf See Change from method 1 under Series EE and series I bonds, earlier. Printable 1040ez pdf Form 1099-INT for U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond interest. Printable 1040ez pdf   When you cash a bond, the bank or other payer that redeems it must give you a Form 1099-INT if the interest part of the payment you receive is $10 or more. Printable 1040ez pdf Box 3 of your Form 1099-INT should show the interest as the difference between the amount you received and the amount paid for the bond. Printable 1040ez pdf However, your Form 1099-INT may show more interest than you have to include on your income tax return. Printable 1040ez pdf For example, this may happen if any of the following are true. Printable 1040ez pdf You chose to report the increase in the redemption value of the bond each year. Printable 1040ez pdf The interest shown on your Form 1099-INT will not be reduced by amounts previously included in income. Printable 1040ez pdf You received the bond from a decedent. Printable 1040ez pdf The interest shown on your Form 1099-INT will not be reduced by any interest reported by the decedent before death, or on the decedent's final return, or by the estate on the estate's income tax return. Printable 1040ez pdf Ownership of the bond was transferred. Printable 1040ez pdf The interest shown on your Form 1099-INT will not be reduced by interest that accrued before the transfer. Printable 1040ez pdf You were named as a co-owner, and the other co-owner contributed funds to buy the bond. Printable 1040ez pdf The interest shown on your Form 1099-INT will not be reduced by the amount you received as nominee for the other co-owner. Printable 1040ez pdf (See Co-owners , earlier in this section, for more information about the reporting requirements. Printable 1040ez pdf ) You received the bond in a taxable distribution from a retirement or profit-sharing plan. Printable 1040ez pdf The interest shown on your Form 1099-INT will not be reduced by the interest portion of the amount taxable as a distribution from the plan and not taxable as interest. Printable 1040ez pdf (This amount is generally shown on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Printable 1040ez pdf , for the year of distribution. Printable 1040ez pdf )   For more information on including the correct amount of interest on your return, see U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond interest previously reported or Nominee distributions under How To Report Interest Income, later. Printable 1040ez pdf    Interest on U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds is exempt from state and local taxes. Printable 1040ez pdf The Form 1099-INT you receive will indicate the amount that is for U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds interest in box 3. Printable 1040ez pdf Do not include this income on your state or local income tax return. Printable 1040ez pdf Education Savings Bond Program You may be able to exclude from income all or part of the interest you receive on the redemption of qualified U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds during the year if you pay qualified higher educational expenses during the same year. Printable 1040ez pdf This exclusion is known as the Education Savings Bond Program. Printable 1040ez pdf You do not qualify for this exclusion if your filing status is married filing separately. Printable 1040ez pdf Form 8815. Printable 1040ez pdf   Use Form 8815 to figure your exclusion. Printable 1040ez pdf Attach the form to your Form 1040 or Form 1040A. Printable 1040ez pdf Qualified U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds. Printable 1040ez pdf   A qualified U. Printable 1040ez pdf S. Printable 1040ez pdf savings bond is a series EE bond issued after 1989 or a series I bond. Printable 1040ez pdf The bond must be issued either in your name (sole owner) or in your and your spouse's names (co-owners). Printable 1040ez pdf You must be at least 24 years old before the bond's issue date. Printable 1040ez pdf For example, a bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. Printable 1040ez pdf    The issue date of a bond may be earlier than the date the bond is purchased because the issue date assigned to a bond is the first day of the month in which it is purchased. Printable 1040ez pdf Beneficiary. Printable 1040ez pdf   You can designate any individual (including a child) as a beneficiary of the bond. Printable 1040ez pdf Verification by IRS. Printable 1040ez pdf   If you claim the exclusion, the IRS will check it by using bond redemption information from the Department of Treasury. Printable 1040ez pdf Qualified expenses. Printable 1040ez pdf   Qualified higher educational expenses are tuition and fees required for you, your spouse, or your dependent (for whom you claim an exemption) to attend an eligible educational institution. Printable 1040ez pdf   Qualified expenses include any contribution you make to a qualified tuition program or to a Coverdell education savings account. Printable 1040ez pdf For information about these programs, see Publication 970, Tax Benefits for Education. Printable 1040ez pdf   Qualified expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Printable 1040ez pdf Eligible educational institutions. Printable 1040ez pdf   These institutions include most public, private, and nonprofit universities, colleges, and vocational schools that are accredited and eligible to participate in student aid programs run by the Department of Education. Printable 1040ez pdf Reduction for certain benefits. Printable 1040ez pdf   You must reduce your qualified higher educational expenses by all of the following tax-free benefits. Printable 1040ez pdf Tax-free part of scholarships and fellowships. Printable 1040ez pdf Expenses used to figure the tax-free portion of distributions from a Coverdell ESA. Printable 1040ez pdf Expenses used to figure the tax-free portion of distributions from a qualified tuition program. Printable 1040ez pdf Any tax-free payments (other than gifts or inheritances) received as educational assistance, such as: Veterans' educational assistance benefits, Qualified tuition reductions, or Employer-provided educational assistance. Printable 1040ez pdf Any expense used in figuring the American Opportunity and lifetime learning credits. Printable 1040ez pdf For information about these benefits, see Publication 970. Printable 1040ez pdf Amount excludable. Printable 1040ez pdf   If the total proceeds (interest and principal) from the qualified U. Printable 1040ez pdf S. Printable 1040ez pdf savings bonds you redeem during the year are not more than your adjusted qualified higher educational expenses for the year, you may be able to exclude all of the interest. Printable 1040ez pdf If the proceeds are more than the expenses, you may be able to exclude only part of the interest. Printable 1040ez pdf   To determine the excludable amount, multiply the interest part of the proceeds by a fraction. Printable 1040ez pdf The numer
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Understanding Your CP3219N Notice

We didn't receive your tax return. We have calculated your tax, penalty and interest based on wages and other income reported to us by employers, financial institutions and others.


What you need to do

  • File your tax return immediately, or
  • Accept our proposed assessment by signing and returning the Response form, or
  • Call us if you think you don't have to file.

You may want to…


Answers to Common Questions

What should I do if I disagree with the notice?

Call us at the toll free number listed on the top right corner of your notice. Please have your paperwork ready when you call. If you prefer, you can write to us using the notice's response form and return address listed.

Where do I send my return?

Attach the Response form and send the return to the address listed on the notice.

What should I do if I've just filed my tax return?

You don't have to do anything if you filed your tax return(s) within the last eight weeks.

What should I do if I didn't file my tax return or it's been more than eight weeks since I filed it?

Complete the Response form from your notice. Check the name, Social Security number (or Taxpayer Identification Number), and tax year on your notice. Make sure they match the name, number, and year on the return. Mail us a copy of the tax return. Sign the return and date it; if filing a joint return your spouse must also sign the return. Send the return with the Response form to the address listed on the notice.

What happens if I can't pay the full amount I owe when I file my return?

You can make a payment plan with us when you can't pay the full amount you owe. If you owe tax on any return(s) you file, we will use your refund to help pay it.

Can I get more time to file my past due return?

No. Once you receive your Notice of Deficiency (90-day letter), you have 90 days to file your past due tax return or file a petition in the Tax Court. If you do neither, the IRS will proceed with their proposed assessment.


Tips for next year

File your return on time.

Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions that you may qualify for. In many cases you can file for free. Learn more about e-file.

Page Last Reviewed or Updated: 26-Feb-2014

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 Printable 1040ez Pdf

Printable 1040ez pdf Publication 15-A - Introductory Material Table of Contents Future Developments What's New Reminders Introduction Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 15-A, such as legislation enacted after it was published, go to www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/pub15a. Printable 1040ez pdf What's New Social security and Medicare tax for 2014. Printable 1040ez pdf  The social security tax rate is 6. Printable 1040ez pdf 2% each for the employee and employer, unchanged from 2013. Printable 1040ez pdf The social security wage base limit is $117,000. Printable 1040ez pdf The Medicare tax rate is 1. Printable 1040ez pdf 45% each for the employee and employer, unchanged from 2013. Printable 1040ez pdf There is no wage base limit for Medicare tax. Printable 1040ez pdf Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. Printable 1040ez pdf Social security and Medicare taxes apply to election workers who are paid $1,600 or more in cash or an equivalent form of compensation. Printable 1040ez pdf Withholding allowance. Printable 1040ez pdf  The 2014 amount for one withholding allowance on an annual basis is $3,950. Printable 1040ez pdf Same-sex marriage. Printable 1040ez pdf  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. Printable 1040ez pdf For more information, see Revenue Ruling 2013-17, 2013-38 I. Printable 1040ez pdf R. Printable 1040ez pdf B. Printable 1040ez pdf 201, available at www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/irb/2013-38_IRB/ar07. Printable 1040ez pdf html. Printable 1040ez pdf Notice 2013-61 provides special administrative procedures for employers to make claims for refunds or adjustments of overpayments of social security and Medicare taxes with respect to certain same-sex spouse benefits before expiration of the period of limitations. Printable 1040ez pdf Notice 2013-61, 2013-44 I. Printable 1040ez pdf R. Printable 1040ez pdf B. Printable 1040ez pdf 432, is available at www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/irb/2013-44_IRB/ar10. Printable 1040ez pdf html. Printable 1040ez pdf Reminders Additional Medicare Tax withholding. Printable 1040ez pdf . Printable 1040ez pdf  In addition to withholding Medicare tax at 1. Printable 1040ez pdf 45%, you must withhold a 0. Printable 1040ez pdf 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Printable 1040ez pdf You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Printable 1040ez pdf Additional Medicare Tax is only imposed on the employee. Printable 1040ez pdf There is no employer share of Additional Medicare Tax. Printable 1040ez pdf All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. Printable 1040ez pdf For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. Printable 1040ez pdf For more information on Additional Medicare Tax, visit IRS. Printable 1040ez pdf gov and enter “Additional Medicare Tax” in the search box. Printable 1040ez pdf Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans. Printable 1040ez pdf  The work opportunity tax credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2014. Printable 1040ez pdf Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. Printable 1040ez pdf For more information, visit IRS. Printable 1040ez pdf gov and enter “work opportunity tax credit” in the search box. Printable 1040ez pdf COBRA premium assistance credit. Printable 1040ez pdf  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. Printable 1040ez pdf For more information, see COBRA premium assistance credit in Publication 15 (Circular E). Printable 1040ez pdf Federal tax deposits must be made by electronic funds transfer. Printable 1040ez pdf  You must use electronic funds transfer to make all federal tax deposits. Printable 1040ez pdf Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). Printable 1040ez pdf If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Printable 1040ez pdf Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Printable 1040ez pdf EFTPS is a free service provided by the Department of Treasury. Printable 1040ez pdf Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Printable 1040ez pdf For more information on making federal tax deposits, see How To Deposit in Publication 15 (Circular E). Printable 1040ez pdf To get more information about EFTPS or to enroll in EFTPS, visit www. Printable 1040ez pdf eftps. Printable 1040ez pdf gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Printable 1040ez pdf Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. Printable 1040ez pdf You must receive written notice from the IRS to file Form 944. Printable 1040ez pdf  If you have been filing Forms 941, Employer's QUARTERLY Federal Tax Return (or Forms 941-SS, Employer's QUARTERLY Federal Tax Return—American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U. Printable 1040ez pdf S. Printable 1040ez pdf Virgin Islands, or Formularios 941-PR, Planilla para la Declaración Federal TRIMESTRAL del Patrono), and believe your employment taxes for the calendar year will be $1,000 or less, and you would like to file Form 944, Employer's ANNUAL Federal Tax Return, instead of Forms 941, you must contact the IRS to request to file Form 944. Printable 1040ez pdf You must receive written notice from the IRS to file Form 944 instead of Forms 941 before you may file this form. Printable 1040ez pdf For more information on requesting to file Form 944, visit IRS. Printable 1040ez pdf gov and enter “file employment taxes annually” in the search box. Printable 1040ez pdf Employers can request to file Forms 941 instead of Form 944. Printable 1040ez pdf  If you received notice from the IRS and have been filing Form 944 but would like to file Forms 941 instead, you must contact the IRS to request to file Forms 941. Printable 1040ez pdf You must receive written notice from the IRS to file Forms 941 instead of Form 944 before you may file these forms. Printable 1040ez pdf For more information on requesting to file Form 944, visit IRS. Printable 1040ez pdf gov and enter “file employment taxes annually” in the search box. Printable 1040ez pdf Aggregate Form 941 filers. Printable 1040ez pdf  Agents must complete Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, when filing an aggregate Form 941. Printable 1040ez pdf Aggregate Forms 941 can only be filed by agents approved by the IRS under section 3504 of the Internal Revenue Code. Printable 1040ez pdf To request approval to act as an agent for an employer, the agent must file Form 2678, Employer/Payer Appointment of Agent, with the IRS. Printable 1040ez pdf Aggregate Form 940 filers. Printable 1040ez pdf  Agents must complete Schedule R (Form 940), Allocation Schedule for Aggregate Form 940 Filers, when filing an aggregate Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. Printable 1040ez pdf Aggregate Forms 940 may only be filed by agents acting on behalf of home care service recipients who receive home care services through a program administered by a federal, state, or local government. Printable 1040ez pdf To request approval to act as an agent on behalf of home care service recipients, the agent must file Form 2678 with the IRS. Printable 1040ez pdf Electronic filing and payment. Printable 1040ez pdf  Now, more than ever before, businesses can enjoy the benefits of filing and paying their federal taxes electronically. Printable 1040ez pdf Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make filing and payment easier. Printable 1040ez pdf Spend less time and worry about taxes and more time running your business. Printable 1040ez pdf Use e-file and the Electronic Federal Tax Payment System (EFTPS) to your benefit. Printable 1040ez pdf For e-file, visit www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/efile for additional information. Printable 1040ez pdf For EFTPS, visit www. Printable 1040ez pdf eftps. Printable 1040ez pdf gov or call EFTPS Customer Service at 1-800-555-4477 or 1-800-733-4829 (TDD). Printable 1040ez pdf Electronic submission of Forms W-4, W-4P, W-4S and W-4V. Printable 1040ez pdf  You may set up a system to electronically receive any or all of the following forms (and their Spanish versions, if available) from an employee or payee. Printable 1040ez pdf Form W-4, Employee's Withholding Allowance Certificate. Printable 1040ez pdf Form W-4P, Withholding Certificate for Pension or Annuity Payments. Printable 1040ez pdf Form W-4S, Request for Federal Income Tax Withholding From Sick Pay. Printable 1040ez pdf Form W-4V, Voluntary Withholding Request. Printable 1040ez pdf For each form that you establish an electronic submission system for, you must meet each of the following five requirements. Printable 1040ez pdf The electronic system must ensure that the information received by the payer is the information sent by the payee. Printable 1040ez pdf The system must document all occasions of user access that result in a submission. Printable 1040ez pdf In addition, the design and operation of the electronic system, including access procedures, must make it reasonably certain that the person accessing the system and submitting the form is the person identified on the form. Printable 1040ez pdf The electronic system must provide exactly the same information as the paper form. Printable 1040ez pdf The electronic submission must be signed with an electronic signature by the payee whose name is on the form. Printable 1040ez pdf The electronic signature must be the final entry in the submission. Printable 1040ez pdf Upon request, you must furnish a hard copy of any completed electronic form to the IRS and a statement that, to the best of the payer's knowledge, the electronic form was submitted by the named payee. Printable 1040ez pdf The hard copy of the electronic form must provide exactly the same information as, but need not be a facsimile of, the paper form. Printable 1040ez pdf For Form W-4, the signature must be under penalty of perjury, and must contain the same language that appears on the paper version of the form. Printable 1040ez pdf The electronic system must inform the employee that he or she must make a declaration contained in the perjury statement and that the declaration is made by signing the Form W-4. Printable 1040ez pdf You must also meet all recordkeeping requirements that apply to the paper forms. Printable 1040ez pdf For more information, see: Regulations sections 31. Printable 1040ez pdf 3402(f)(5)-1(c) (for Form W-4), and Announcement 99-6 (for Forms W-4P, W-4S, and W-4V). Printable 1040ez pdf You can find Announcement 99-6 on page 24 of Internal Revenue Bulletin 1999-4 at www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/pub/irs-irbs/irb99-04. Printable 1040ez pdf pdf. Printable 1040ez pdf Additional employment tax information. Printable 1040ez pdf  Visit the IRS website at www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/businesses and click on the Employment Taxes link under Businesses Topics. Printable 1040ez pdf Telephone help. Printable 1040ez pdf  You can call the IRS Business and Specialty Tax Line with your employment tax questions at 1-800-829-4933. Printable 1040ez pdf Help for people with disabilities. Printable 1040ez pdf  You may call 1-800-829-4059 (TDD/TTY for persons who are deaf, heard of hearing, or have a speech disability) with any tax question or to order forms and publications. Printable 1040ez pdf You may also use this number for assistance with unresolved tax problems. Printable 1040ez pdf Furnishing Form W-2 to employees electronically. Printable 1040ez pdf  You may set up a system to furnish Form W-2, Wage and Tax Statement, electronically. Printable 1040ez pdf Each employee participating must consent (either electronically or by paper document) to receive his or her Form W-2 electronically, and you must notify the employee of all hardware and software requirements to receive the form. Printable 1040ez pdf You may not send a Form W-2 electronically to any employee who does not consent or who has revoked consent previously provided. Printable 1040ez pdf To furnish Forms W-2 electronically, you must meet the following disclosure requirements and provide a clear and conspicuous statement of each requirement to your employees. Printable 1040ez pdf The employee must be informed that he or she will receive a paper Form W-2 if consent is not given to receive it electronically. Printable 1040ez pdf The employee must be informed of the scope and duration of the consent. Printable 1040ez pdf The employee must be informed of any procedure for obtaining a paper copy of his or her Form W-2 and whether or not the request for a paper statement is treated as a withdrawal of his or her consent to receiving his or her Form W-2 electronically. Printable 1040ez pdf The employee must be notified about how to withdraw a consent and the effective date and manner by which the employer will confirm the withdrawn consent. Printable 1040ez pdf The employee must also be notified that the withdrawn consent does not apply to the previously issued Forms W-2. Printable 1040ez pdf The employee must be informed about any conditions under which electronic Forms W-2 will no longer be furnished (for example, termination of employment). Printable 1040ez pdf The employee must be informed of any procedures for updating his or her contact information that enables the employer to provide electronic Forms W-2. Printable 1040ez pdf The employer must notify the employee of any changes to the employer's contact information. Printable 1040ez pdf You must furnish electronic Forms W-2 by the same due date as the paper Forms W-2. Printable 1040ez pdf For more information on furnishing Form W-2 to employees electronically, see Regulations section 31. Printable 1040ez pdf 6051-1(j). Printable 1040ez pdf Photographs of missing children. Printable 1040ez pdf  The IRS is a proud partner with the National Center for Missing and Exploited Children. Printable 1040ez pdf Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Printable 1040ez pdf 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. Printable 1040ez pdf Introduction This publication supplements Publication 15 (Circular E). Printable 1040ez pdf It contains specialized and detailed employment tax information supplementing the basic information provided in Publication 15 (Circular E). Printable 1040ez pdf This publication also contains tables for withholding on distributions of Indian gaming profits to tribal members. Printable 1040ez pdf Publication 15-B, Employer's Tax Guide to Fringe Benefits, contains information about the employment tax treatment of various types of noncash compensation. Printable 1040ez pdf Ordering publications and forms. Printable 1040ez pdf   See Ordering Employer Tax Forms and Publications in Publication 15 (Circular E) and How To Get Tax Help , later, for more information on how to obtain forms and publications. Printable 1040ez pdf Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 505 Tax Withholding and Estimated Tax 515 Withholding of Tax on Nonresident Aliens and Foreign Entities 583 Starting a Business and Keeping Records 1635 Employer Identification Number: Understanding Your EIN Comments and suggestions. Printable 1040ez pdf   We welcome your comments about this publication and your suggestions for future editions. Printable 1040ez pdf    You can write to us at the following address: Internal Revenue Service Tax Forms & Publications Division 1111 Constitution Ave. Printable 1040ez pdf NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Printable 1040ez pdf Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Printable 1040ez pdf   You can also send us comments from www. Printable 1040ez pdf irs. Printable 1040ez pdf gov/formspubs. Printable 1040ez pdf Click on More Information and then click on Comment on Tax Forms and Publications. Printable 1040ez pdf   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications. Printable 1040ez pdf Prev  Up  Next   Home   More Online Publications