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Search freetaxusa Index A Accuracy of deposits rule, Accuracy of Deposits Rule Additional Medicare Tax, Reminders, Additional Medicare Tax withholding. Search freetaxusa , Additional Medicare Tax withholding adjustments. Search freetaxusa Adjustments, 13. Search freetaxusa Reporting Adjustments to Form 941 or Form 944 Aliens, nonresident, Withholding income taxes on the wages of nonresident alien employees. Search freetaxusa , Withholding of social security and Medicare taxes on nonresident aliens. Search freetaxusa Allocated tips, Allocated tips. Search freetaxusa Archer MSAs, Health Savings Accounts and medical savings accounts. Search freetaxusa Assistance (see Tax help) B Backup withholding, Nonpayroll Income Tax Withholding Business expenses, employee, Employee business expense reimbursements. Search freetaxusa C Calendar, Calendar Certain foreign persons treated as American employers, Foreign persons treated as American employers. Search freetaxusa Change of business address or responsible party, Change of Business Address or Responsible Party COBRA premium assistance credit, COBRA premium assistance credit. Search freetaxusa Correcting employment taxes, Correcting employment taxes. Search freetaxusa Correcting errors, (prior period adjustments) Form 941, Prior Period Adjustments D Delivery services, private, Private Delivery Services Depositing taxes Penalties, Deposit Penalties Rules, 11. Search freetaxusa Depositing Taxes Differential wage payments, Differential wage payments. Search freetaxusa E E-file, Electronic filing by reporting agents. Search freetaxusa Election worker, State and local government employers. Search freetaxusa Electronic, Electronic deposit requirement. Search freetaxusa Electronic deposit requirement, Electronic deposit requirement. Search freetaxusa Electronic Federal Tax Payment System (EFTPS), Electronic deposit requirement. 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Search freetaxusa Employee's Social Security Number (SSN) Spouse, Business Owned and Operated by Spouses Standard mileage rate, Per diem or other fixed allowance. Search freetaxusa Statutory employees, Employee status under common law. Search freetaxusa Statutory nonemployees, Statutory employees. Search freetaxusa Successor employer, Successor employer. Search freetaxusa , Successor employer. Search freetaxusa Supplemental wages, 7. Search freetaxusa Supplemental Wages T Tax help, How To Get Tax Help Telephone help, Telephone Help Third-party sick pay tax adjustment, Adjustment of tax on third-party sick pay. Search freetaxusa Tip Rate Determination Agreement, Tip Rate Determination and Education Program. Search freetaxusa Tip Rate Determination and Education Program, Tip Rate Determination and Education Program. Search freetaxusa Tips, 6. Search freetaxusa Tips, Tips treated as supplemental wages. Search freetaxusa Trust fund recovery penalty, Trust fund recovery penalty. Search freetaxusa TTY/TDD information, How To Get Tax Help U Unemployment tax, federal, 14. Search freetaxusa Federal Unemployment (FUTA) Tax V Vacation pay, Vacation pay. Search freetaxusa W Wage repayments, Wage Repayments Wages defined, 5. Search freetaxusa Wages and Other Compensation Wages not paid in money, Wages not paid in money. Search freetaxusa Withholding Backup, Nonpayroll Income Tax Withholding Certificate, Using Form W-4 to figure withholding. Search freetaxusa Exemption, Exemption from federal income tax withholding. Search freetaxusa Fringe benefits, Withholding on fringe benefits. Search freetaxusa Income tax, Income Tax Withholding Levies, Amounts exempt from levy on wages, salary, and other income. Search freetaxusa Nonresident aliens, Withholding of social security and Medicare taxes on nonresident aliens. 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Tax Relief for Victims of Tropical Storm Maria in Puerto Rico

SP-FL-2011-15, Oct. 19, 2011

MIAMI — Victims of Tropical Storm Maria that began on Sept. 8, 2011 in parts of Puerto Rico may qualify for tax relief from the Internal Revenue Service.

The President has declared the following municipalities a federal disaster area: Juana Díaz, Naguabo and Yabucoa. Individuals who reside or have a business in these municipalities may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Sept. 8, and on or before Nov. 7, have been postponed to Nov. 7, 2011. This includes previously obtained extensions to file 2010 returns and the estimated tax payment for the third quarter, normally due Sept. 15.  

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Sept. 8, and on or before Sept. 23, as long as the deposits are made by Sept. 23, 2011.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 1-866-562-5227 to request this tax relief.

Covered Disaster Area

The municipalities listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Nov. 7 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Sept. 8 and on or before Nov. 7.

The IRS also gives affected taxpayers until Nov. 7 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Sept. 8 and on or before Nov. 7.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Sept. 8 and on or before Sept. 23 provided the taxpayer makes these deposits by Sept. 23.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “Puerto Rico/Tropical Storm Maria” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040.

Related Information

Page Last Reviewed or Updated: 18-Mar-2014

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Search freetaxusa Internal Revenue Bulletin:  2009-17  April 27, 2009  Rev. Search freetaxusa Proc. Search freetaxusa 2009-24 Table of Contents SECTION 1. Search freetaxusa PURPOSE SECTION 2. Search freetaxusa BACKGROUND SECTION 3. Search freetaxusa SCOPE SECTION 4. Search freetaxusa APPLICATION. Search freetaxusa 01 In General. Search freetaxusa . Search freetaxusa 02 Limitations on Depreciation Deductions for Certain Automobiles. Search freetaxusa . Search freetaxusa 03 Inclusions in Income of Lessees of Passenger Automobiles. Search freetaxusa SECTION 5. Search freetaxusa EFFECTIVE DATE SECTION 6. Search freetaxusa DRAFTING INFORMATION SECTION 1. Search freetaxusa PURPOSE . Search freetaxusa 01 This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2009, including a separate table of limitations on depreciation deductions for trucks and vans; and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2009, including a separate table of inclusion amounts for lessees of trucks and vans. Search freetaxusa . Search freetaxusa 02 The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. Search freetaxusa SECTION 2. Search freetaxusa BACKGROUND . Search freetaxusa 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year that the passenger automobile is placed in service by the taxpayer and each succeeding year. Search freetaxusa Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. Search freetaxusa The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. Search freetaxusa This change reflects the higher rate of price inflation that trucks and vans have been subject to since 1988. Search freetaxusa . Search freetaxusa 02 Section 168(k)(1)(A) provides a 50 percent additional first year depreciation deduction for certain new property acquired by a taxpayer after December 31, 2007, and before January 1, 2010, if no written binding contract for the acquisition of the property existed before January 1, 2008. Search freetaxusa Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A) by $8,000 for passenger automobiles to which the 50 percent additional first year depreciation deduction applies. Search freetaxusa . Search freetaxusa 03 Section 168(k)(2)(D)(i) provides that the 50 percent additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). Search freetaxusa Section 168(k)(2)(D)(iii) permits a taxpayer to elect to not claim the 50 percent additional first year depreciation deduction for any class of property. Search freetaxusa Section 168(k)(4) permits a corporation to elect to not claim the 50 percent additional first year depreciation deduction for all eligible qualified property (that is extension property or that is not extension property, as applicable) and instead to increase the business credit limitation under § 38(c) or the alternative minimum tax credit limitation under § 53(c). Search freetaxusa Accordingly, this revenue procedure provides tables for passenger automobiles for which the 50 percent additional depreciation deduction applies and tables for passenger automobiles for which the 50 percent additional first year depreciation deduction does not apply, including passenger automobiles in a class of property for which the taxpayer “elects out” of the 50 percent additional first year depreciation deduction or passenger automobiles that are eligible qualified property to which the § 168(k)(4) election applies. Search freetaxusa . Search freetaxusa 04 For leased passenger automobiles, § 280F(c) requires a reduction in the deduction allowed to the lessee of the passenger automobile. Search freetaxusa The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. Search freetaxusa Under § 1. Search freetaxusa 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. Search freetaxusa One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. Search freetaxusa Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. Search freetaxusa SECTION 3. Search freetaxusa SCOPE . Search freetaxusa 01 The limitations on depreciation deductions in section 4. Search freetaxusa 02(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2009, and continue to apply for each taxable year that the passenger automobile remains in service. Search freetaxusa . Search freetaxusa 02 The tables in section 4. Search freetaxusa 03 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2009. Search freetaxusa Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. Search freetaxusa See Rev. Search freetaxusa Proc. Search freetaxusa 2002-14, 2002-1 C. Search freetaxusa B. Search freetaxusa 450, for passenger automobiles first leased before January 1, 2003, Rev. Search freetaxusa Proc. Search freetaxusa 2003-75, 2003-2 C. Search freetaxusa B. Search freetaxusa 1018, for passenger automobiles first leased during calendar year 2003, Rev. Search freetaxusa Proc. Search freetaxusa 2004-20, 2004-1 C. Search freetaxusa B. Search freetaxusa 642, for passenger automobiles first leased during calendar year 2004, Rev. Search freetaxusa Proc. Search freetaxusa 2005-13, 2005-1 C. Search freetaxusa B. Search freetaxusa 759, for passenger automobiles first leased during calendar year 2005, Rev. Search freetaxusa Proc. Search freetaxusa 2006-18, 2006-1 C. Search freetaxusa B. Search freetaxusa 645, for passenger automobiles first leased during calendar year 2006, Rev. Search freetaxusa Proc. Search freetaxusa 2007-30, 2007-1 C. Search freetaxusa B. Search freetaxusa 1104, for passenger automobiles first leased during calendar year 2007, and Rev. Search freetaxusa Proc. Search freetaxusa 2008-22, 2008-12 I. Search freetaxusa R. Search freetaxusa B. Search freetaxusa 658, for passenger automobiles first leased during calendar year 2008. Search freetaxusa SECTION 4. Search freetaxusa APPLICATION . Search freetaxusa 01 In General. Search freetaxusa (1) Limitations on depreciation deductions for certain automobiles. Search freetaxusa The limitations on depreciation deductions for passenger automobiles placed in service by the taxpayer for the first time during calendar year 2009 are in Tables 1 through 4 in section 4. Search freetaxusa 02(2) of this revenue procedure. Search freetaxusa (2) Inclusions in income of lessees of passenger automobiles. Search freetaxusa A taxpayer first leasing a passenger automobile during calendar year 2009 must determine the inclusion amount that is added to gross income using Tables 5 and 6 in section 4. Search freetaxusa 03 of this revenue procedure. Search freetaxusa In addition, the taxpayer must follow the procedures of § 1. Search freetaxusa 280F-7(a). Search freetaxusa . Search freetaxusa 02 Limitations on Depreciation Deductions for Certain Automobiles. Search freetaxusa (1) Amount of the inflation adjustment. Search freetaxusa (a) Passenger automobiles (other than trucks or vans). Search freetaxusa Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. Search freetaxusa The term “CPI automobile component” is defined in § 280F(d)(7)(B)(ii) as the “automobile component” of the Consumer Price Index for all Urban Consumers published by the Department of Labor. Search freetaxusa The new car component of the CPI was 115. Search freetaxusa 2 for October 1987 and 134. Search freetaxusa 837 for October 2008. Search freetaxusa The October 2008 index exceeded the October 1987 index by 19. Search freetaxusa 637. Search freetaxusa The Internal Revenue Service has, therefore, determined that the automobile price inflation adjustment for 2009 for passenger automobiles (other than trucks and vans) is 17. Search freetaxusa 05 percent (19. Search freetaxusa 637/115. Search freetaxusa 2 x 100%). Search freetaxusa This adjustment is applicable to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2009. Search freetaxusa The dollar limitations in § 280F(a) therefore must be multiplied by a factor of 0. Search freetaxusa 1705, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2009. Search freetaxusa (b) Trucks and vans. Search freetaxusa To determine the dollar limitations applicable to trucks and vans first placed in service during calendar year 2009, the new truck component of the CPI is used instead of the new car component. Search freetaxusa The new truck component of the CPI was 112. Search freetaxusa 4 for October 1987 and 133. Search freetaxusa 640 for October 2008. Search freetaxusa The October 2008 index exceeded the October 1987 index by 21. Search freetaxusa 24. Search freetaxusa The Service has, therefore, determined that the automobile price inflation adjustment for 2009 for trucks and vans is 18. Search freetaxusa 90 percent (21. Search freetaxusa 24/112. Search freetaxusa 4 x 100%). Search freetaxusa This adjustment is applicable to all trucks and vans that are first placed in service in calendar year 2009. Search freetaxusa The dollar limitations in § 280F(a) therefore must be multiplied by a factor of 0. Search freetaxusa 1890, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to trucks and vans. Search freetaxusa (2) Amount of the limitation. Search freetaxusa For passenger automobiles placed in service by the taxpayer in calendar year 2009, Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year. Search freetaxusa Use Table 1 for a passenger automobile (other than a truck or van) placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction does not apply, including a passenger automobile (other than a truck or van) in a class of property for which the taxpayer elects out of the 50 percent additional first year depreciation deduction or a passenger automobile that is eligible qualified property to which the § 168(k)(4) election applies. Search freetaxusa Use Table 2 for a passenger automobile (other than a truck or van) placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction applies. Search freetaxusa Use Table 3 for a truck or van placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction does not apply, including a truck or van in a class of property for which the taxpayer elects out of the 50 percent additional first year depreciation deduction or a truck or van that is eligible qualified property to which the § 168(k)(4) election applies. Search freetaxusa Use Table 4 for a truck or van placed in service by the taxpayer in calendar year 2009, for which the 50 percent additional first year depreciation deduction applies. Search freetaxusa REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $2,960 2nd Tax Year $4,800 3rd Tax Year $2,850 Each Succeeding Year $1,775 REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 2 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $10,960 2nd Tax Year $4,800 3rd Tax Year $2,850 Each Succeeding Year $1,775 REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 3 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE BY THE TAXPAYER IN CALENDAR YEAR 2009, FOR WHICH THE 50 PERCENT ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 . Search freetaxusa 03 Inclusions in Income of Lessees of Passenger Automobiles. Search freetaxusa The inclusion amounts for passenger automobiles first leased in calendar year 2009 are calculated under the procedures described in § 1. Search freetaxusa 280F-7(a). Search freetaxusa Lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure in applying these procedures, while lessees of trucks and vans should use Table 6 of this revenue procedure. Search freetaxusa REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2009 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $18,500 $19,000 9 19 28 34 38 19,000 19,500 10 21 32 38 43 19,500 20,000 11 24 36 42 48 20,000 20,500 12 27 39 46 54 20,500 21,000 13 29 43 51 58 21,000 21,500 15 31 47 55 64 21,500 22,000 16 34 50 60 68 22,000 23,000 17 38 56 66 76 23,000 24,000 20 42 64 75 86 24,000 25,000 22 47 71 84 96 25,000 26,000 24 52 78 93 107 26,000 27,000 26 58 85 101 117 27,000 28,000 29 62 93 110 127 28,000 29,000 31 67 100 119 138 29,000 30,000 33 72 108 128 147 30,000 31,000 35 77 115 137 157 31,000 32,000 38 82 122 146 167 32,000 33,000 40 87 129 155 178 33,000 34,000 42 92 137 163 188 34,000 35,000 44 97 144 172 199 35,000 36,000 47 102 151 181 208 36,000 37,000 49 107 159 189 219 37,000 38,000 51 112 166 199 228 38,000 39,000 53 117 173 208 239 39,000 40,000 56 122 180 216 250 40,000 41,000 58 127 188 225 259 41,000 42,000 60 132 195 234 269 42,000 43,000 62 137 203 242 280 43,000 44,000 65 141 210 252 290 44,000 45,000 67 146 218 260 300 45,000 46,000 69 151 225 269 311 46,000 47,000 71 157 232 278 320 47,000 48,000 74 161 240 286 331 48,000 49,000 76 166 247 296 340 49,000 50,000 78 171 255 304 351 50,000 51,000 80 176 262 313 361 51,000 52,000 83 181 269 322 371 52,000 53,000 85 186 276 331 381 53,000 54,000 87 191 284 339 392 54,000 55,000 89 196 291 349 401 55,000 56,000 92 201 298 357 412 56,000 57,000 94 206 306 365 423 57,000 58,000 96 211 313 375 432 58,000 59,000 98 216 320 384 442 59,000 60,000 101 221 327 393 452 60,000 62,000 104 228 339 406 467 62,000 64,000 109 238 353 424 488 64,000 66,000 113 248 368 441 509 66,000 68,000 118 258 382 459 529 68,000 70,000 122 268 397 476 550 70,000 72,000 127 277 413 493 570 72,000 74,000 131 288 427 511 590 74,000 76,000 136 297 442 529 610 76,000 78,000 140 307 457 546 631 78,000 80,000 145 317 471 564 651 80,000 85,000 152 335 497 595 686 85,000 90,000 164 359 534 639 737 90,000 95,000 175 384 570 683 789 95,000 100,000 186 409 607 727 839 100,000 110,000 203 446 662 793 916 110,000 120,000 226 495 736 881 1,018 120,000 130,000 248 545 809 970 1,119 130,000 140,000 271 594 883 1,058 1,220 140,000 150,000 293 644 956 1,146 1,322 150,000 160,000 316 693 1,030 1,234 1,424 160,000 170,000 338 743 1,103 1,322 1,526 170,000 180,000 361 792 1,177 1,410 1,628 180,000 190,000 383 842 1,250 1,498 1,730 190,000 200,000 406 891 1,324 1,586 1,831 200,000 210,000 428 941 1,397 1,675 1,932 210,000 220,000 451 990 1,471 1,762 2,035 220,000 230,000 473 1,040 1,544 1,851 2,136 230,000 240,000 496 1,089 1,618 1,939 2,238 240,000 And up 518 1,139 1,691 2,027 2,340 REV. Search freetaxusa PROC. Search freetaxusa 2009-24 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2009 Fair Market Value of Electric Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th and Later $18,500 $19,000 8 17 25 30 35 19,000 19,500 9 19 29 35 40 19,500 20,000 10 22 33 38 45 20,000 20,500 11 25 36 43 50 20,500 21,000 12 27 40 48 55 21,000 21,500 13 30 43 52 60 21,500 22,000 15 32 47 56 66 22,000 23,000 16 36 52 64 72 23,000 24,000 18 41 60 72 83 24,000 25,000 21 45 68 81 93 25,000 26,000 23 50 75 90 103 26,000 27,000 25 56 82 98 114 27,000 28,000 27 61 89 107 124 28,000 29,000 30 65 97 116 134 29,000 30,000 32 70 104 125 144 30,000 31,000 34 75 112 134 154 31,000 32,000 36 80 119 143 164 32,000 33,000 39 85 126 151 175 33,000 34,000 41 90 134 160 184 34,000 35,000 43 95 141 169 195 35,000 36,000 45 100 148 178 205 36,000 37,000 48 105 155 187 215 37,000 38,000 50 110 163 195 226 38,000 39,000 52 115 170 204 236 39,000 40,000 55 120 177 213 246 40,000 41,000 57 125 185 221 256 41,000 42,000 59 130 192 231 266 42,000 43,000 61 135 199 240 276 43,000 44,000 64 139 207 249 286 44,000 45,000 66 144 215 257 296 45,000 46,000 68 149 222 266 307 46,000 47,000 70 155 229 274 317 47,000 48,000 73 159 237 283 327 48,000 49,000 75 164 244 292 338 49,000 50,000 77 169 251 301 348 50,000 51,000 79 174 259 310 357 51,000 52,000 82 179 266 318 368 52,000 53,000 84 184 273 328 378 53,000 54,000 86 189 281 336 388 54,000 55,000 88 194 288 345 399 55,000 56,000 91 199 295 354 408 56,000 57,000 93 204 302 363 419 57,000 58,000 95 209 310 371 429 58,000 59,000 97 214 317 381 439 59,000 60,000 100 219 324 389 450 60,000 62,000 103 226 336 402 465 62,000 64,000 107 236 351 420 485 64,000 66,000 112 246 365 438 505 66,000 68,000 116 256 380 455 526 68,000 70,000 121 266 394 473 546 70,000 72,000 125 276 409 491 566 72,000 74,000 130 286 423 509 586 74,000 76,000 134 296 438 526 607 76,000 78,000 139 305 454 543 627 78,000 80,000 143 316 467 561 648 80,000 85,000 151 333 493 592 684 85,000 90,000 163 357 531 635 735 90,000 95,000 174 382 567 680 785 95,000 100,000 185 407 604 724 836 100,000 110,000 202 444 659 790 912 110,000 120,000 225 493 733 878 1,014 120,000 130,000 247 543 806 966 1,116 130,000 140,000 270 592 880 1,054 1,218 140,000 150,000 292 642 953 1,143 1,319 150,000 160,000 315 691 1,027 1,230 1,421 160,000 170,000 337 741 1,100 1,319 1,522 170,000 180,000 360 790 1,174 1,407 1,624 180,000 190,000 382 840 1,247 1,495 1,726 190,000 200,000 405 889 1,321 1,583 1,828 200,000 210,000 427 939 1,394 1,671 1,930 210,000 220,000 450 988 1,468 1,759 2,031 220,000 230,000 472 1,038 1,541 1,847 2,134 230,000 240,000 495 1,087 1,615 1,935 2,235 240,000 and up 517 1,137 1,688 2,024 2,336 SECTION 5. Search freetaxusa EFFECTIVE DATE This revenue procedure applies to passenger automobiles (other than leased passenger automobiles) that are first placed in service by a taxpayer during calendar year 2009, and to leased passenger automobiles that are first leased by a taxpayer during calendar year 2009. Search freetaxusa SECTION 6. Search freetaxusa DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. Search freetaxusa Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). Search freetaxusa For further information regarding this revenue procedure, contact Mr. Search freetaxusa Harvey at (202) 622-4930 (not a toll-free call). Search freetaxusa Prev  Up  Next   Home   More Internal Revenue Bulletins