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State Of Illinois Tax Filing Online

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State Of Illinois Tax Filing Online

State of illinois tax filing online Publication 17 - Introductory Material Table of Contents What's New Reminders IntroductionIcons. State of illinois tax filing online Ordering forms and publications. State of illinois tax filing online Tax questions. State of illinois tax filing online All material in this publication may be reprinted freely. State of illinois tax filing online A citation to Your Federal Income Tax (2013) would be appropriate. State of illinois tax filing online The explanations and examples in this publication reflect the interpretation by the Internal Revenue Service (IRS) of: Tax laws enacted by Congress, Treasury regulations, and Court decisions. State of illinois tax filing online However, the information given does not cover every situation and is not intended to replace the law or change its meaning. State of illinois tax filing online This publication covers some subjects on which a court may have made a decision more favorable to taxpayers than the interpretation by the IRS. State of illinois tax filing online Until these differing interpretations are resolved by higher court decisions or in some other way, this publication will continue to present the interpretations by the IRS. State of illinois tax filing online All taxpayers have important rights when working with the IRS. State of illinois tax filing online These rights are described in Your Rights as a Taxpayer in the back of this publication. State of illinois tax filing online What's New This section summarizes important tax changes that took effect in 2013. State of illinois tax filing online Most of these changes are discussed in more detail throughout this publication. State of illinois tax filing online Future developments. State of illinois tax filing online  For the latest information about the tax law topics covered in this publication, including information about any tax legislation, go to www. State of illinois tax filing online irs. State of illinois tax filing online gov/pub17. State of illinois tax filing online Additional Medicare Tax. State of illinois tax filing online  Beginning in 2013, a 0. State of illinois tax filing online 9% Additional Medicare Tax applies to Medicare wages, railroad retirement (RRTA) compensation, and self-employment income that are more than: $125,000 if married filing separately, $250,000 if married filing jointly, or $200,000 for any other filing status. State of illinois tax filing online See Form 8959 and its instructions. State of illinois tax filing online Net Investment Income Tax. State of illinois tax filing online  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). State of illinois tax filing online The NIIT is 3. State of illinois tax filing online 8% of the smaller of (a) your net investment income or (b) the excess of your modified adjusted gross income over: $125,000 if married filing separately, $250,000 if married filing jointly or qualifying widow(er), or $200,000 if any other filing status. State of illinois tax filing online See Form 8960 and its instructions. State of illinois tax filing online Change in tax rates. State of illinois tax filing online  The highest tax rate is 39. State of illinois tax filing online 6%. State of illinois tax filing online For more information, see the 2013 Tax Computation Worksheet or the 2013 Tax Rate Schedules near the end of this publication. State of illinois tax filing online Tax rate on net capital gain and qualified dividends. State of illinois tax filing online  The maximum tax rate of 15% on net capital gain and qualified dividends has increased to 20% for some taxpayers. State of illinois tax filing online See chapter 16. State of illinois tax filing online Medical and dental expenses. State of illinois tax filing online  You can deduct only the part of your medical and dental expenses that is more than 10% of your adjusted gross income (7. State of illinois tax filing online 5% if either you or your spouse is age 65 or older). State of illinois tax filing online See chapter 21. State of illinois tax filing online Personal exemption amount increased for certain taxpayers. State of illinois tax filing online  Your personal exemption is increased to $3,900. State of illinois tax filing online But the amount is reduced if your adjusted gross income is more than: $150,000 if married filing separately, $250,000 if single, $275,000 if head of household, or $300,000 if any other filing status. State of illinois tax filing online See chapter 3. State of illinois tax filing online Limit on itemized deductions. State of illinois tax filing online  You may not be able to deduct all of your itemized deductions if your adjusted gross income is more than: $150,000 if married filing separately, $250,000 if single, $275,000 if head of household, or $300,000 if any other filing status. State of illinois tax filing online See chapter 29. State of illinois tax filing online Same-sex marriages. State of illinois tax filing online  If you have a same-sex spouse whom you legally married in a state (or foreign country) that recognizes same-sex marriage, you and your spouse generally must use the married filing jointly or married filing separately filing status on your 2013 return, even if you and your spouse now live in a state (or foreign country) that does not recognize same-sex marriage. State of illinois tax filing online See chapter 2. State of illinois tax filing online If you meet certain requirements, you may be able to file amended returns to change your filing status for some earlier years. State of illinois tax filing online For details on filing amended returns, see chapter 1. State of illinois tax filing online Health flexible spending arrangements (FSAs). State of illinois tax filing online  You cannot have more than $2,500 in salary reduction contributions made to a health FSA for plan years beginning after 2012. State of illinois tax filing online See chapter 5. State of illinois tax filing online Expiring credits. State of illinois tax filing online  The plug-in electric vehicle credit and the refundable part of the credit for prior year minimum tax have expired. State of illinois tax filing online You cannot claim either one on your 2013 return. State of illinois tax filing online See chapter 37. State of illinois tax filing online Ponzi-type investment schemes. State of illinois tax filing online  There are new rules for how to claim a theft loss deduction on Form 4684 due to a Ponzi-type investment scheme. State of illinois tax filing online See chapter 25. State of illinois tax filing online Home office deduction simplified method. State of illinois tax filing online  If you can take a home office deduction, you may be able to use a simplified method to figure it. State of illinois tax filing online See Publication 587. State of illinois tax filing online Standard mileage rates. State of illinois tax filing online  The 2013 rate for business use of your car is increased to 56½ cents a mile. State of illinois tax filing online See chapter 26. State of illinois tax filing online The 2013 rate for use of your car to get medical care is increased to 24 cents a mile. State of illinois tax filing online See chapter 21. State of illinois tax filing online The 2013 rate for use of your car to move is increased to 24 cents a mile. State of illinois tax filing online See Publication 521, Moving Expenses. State of illinois tax filing online Reminders Listed below are important reminders and other items that may help you file your 2013 tax return. State of illinois tax filing online Many of these items are explained in more detail later in this publication. State of illinois tax filing online Enter your social security number (SSN). State of illinois tax filing online  Enter your SSN in the space provided on your tax form. State of illinois tax filing online If you filed a joint return for 2012 and are filing a joint return for 2013 with the same spouse, enter your names and SSNs in the same order as on your 2012 return. State of illinois tax filing online See chapter 1. State of illinois tax filing online Secure your tax records from identity theft. State of illinois tax filing online  Identity theft occurs when someone uses your personal information, such as your name, SSN, or other identifying information, without your permission, to commit fraud or other crimes. State of illinois tax filing online An identity thief may use your SSN to get a job or may file a tax return using your SSN to receive a refund. State of illinois tax filing online For more information about identity theft and how to reduce your risk from it, see chapter 1. State of illinois tax filing online Taxpayer identification numbers. State of illinois tax filing online  You must provide the taxpayer identification number for each person for whom you claim certain tax benefits. State of illinois tax filing online This applies even if the person was born in 2013. State of illinois tax filing online Generally, this number is the person's social security number (SSN). State of illinois tax filing online See chapter 1. State of illinois tax filing online Foreign source income. State of illinois tax filing online  If you are a U. State of illinois tax filing online S. State of illinois tax filing online citizen with income from sources outside the United States (foreign income), you must report all such income on your tax return unless it is exempt by U. State of illinois tax filing online S. State of illinois tax filing online law. State of illinois tax filing online This is true whether you live inside or outside the United States and whether or not you receive a Form W-2 or Form 1099 from the foreign payer. State of illinois tax filing online This applies to earned income (such as wages and tips) as well as unearned income (such as interest, dividends, capital gains, pensions, rents and royalties). State of illinois tax filing online If you live outside the United States, you may be able to exclude part or all of your foreign source earned income. State of illinois tax filing online For details, see Publication 54, Tax Guide for U. State of illinois tax filing online S. State of illinois tax filing online Citizens and Resident Aliens Abroad. State of illinois tax filing online Foreign financial assets. State of illinois tax filing online  If you had foreign financial assets in 2013, you may have to file Form 8938 with your return. State of illinois tax filing online Check www. State of illinois tax filing online IRS. State of illinois tax filing online gov/form8938 for details. State of illinois tax filing online Automatic 6-month extension to file tax return. State of illinois tax filing online  You can use Form 4868, Application for Automatic Extension of Time To File U. State of illinois tax filing online S. State of illinois tax filing online Individual Income Tax Return, to obtain an automatic 6-month extension of time to file your tax return. State of illinois tax filing online See chapter 1. State of illinois tax filing online Include your phone number on your return. State of illinois tax filing online  To promptly resolve any questions we have in processing your tax return, we would like to be able to call you. State of illinois tax filing online Please enter your daytime telephone number on your tax form next to your signature and occupation. State of illinois tax filing online If you are filing a joint return, you can enter either your or your spouse's daytime phone number. State of illinois tax filing online Payment of taxes. State of illinois tax filing online   You can pay your taxes online, by phone, or by check or money order. State of illinois tax filing online You can make a direct transfer from your bank account or use a credit or debit card. State of illinois tax filing online If you e-file, you can schedule an electronic payment. State of illinois tax filing online See chapter 1. State of illinois tax filing online Faster ways to file your return. State of illinois tax filing online  The IRS offers fast, accurate ways to file your tax return information without filing a paper tax return. State of illinois tax filing online You can use IRS e-file (electronic filing). State of illinois tax filing online See chapter 1. State of illinois tax filing online Free electronic filing. State of illinois tax filing online  You may be able to file your 2013 taxes online for free. State of illinois tax filing online See chapter 1. State of illinois tax filing online Change of address. State of illinois tax filing online  If you change your address, you should notify the IRS. State of illinois tax filing online See Change of Address in chapter 1. State of illinois tax filing online Refund on a late filed return. State of illinois tax filing online  If you were due a refund but you did not file a return, you generally must file your return within 3 years from the date the return was due (including extensions) to get that refund. State of illinois tax filing online See chapter 1. State of illinois tax filing online Frivolous tax returns. State of illinois tax filing online  The IRS has published a list of positions that are identified as frivolous. State of illinois tax filing online The penalty for filing a frivolous tax return is $5,000. State of illinois tax filing online See chapter 1. State of illinois tax filing online Filing erroneous claim for refund or credit. State of illinois tax filing online  You may have to pay a penalty if you file an erroneous claim for refund or credit. State of illinois tax filing online See chapter 1. State of illinois tax filing online Privacy Act and paperwork reduction information. State of illinois tax filing online   The IRS Restructuring and Reform Act of 1998, the Privacy Act of 1974, and the Paperwork Reduction Act of 1980 require that when we ask you for information we must first tell you what our legal right is to ask for the information, why we are asking for it, how it will be used, what could happen if we do not receive it, and whether your response is voluntary, required to obtain a benefit, or mandatory under the law. State of illinois tax filing online A complete statement on this subject can be found in your tax form instructions. State of illinois tax filing online Customer service for taxpayers. State of illinois tax filing online  You can set up a personal appointment at the most convenient Taxpayer Assistance Center, on the most convenient business day. State of illinois tax filing online See How To Get Tax Help in the back of this publication. State of illinois tax filing online Preparer e-file mandate. State of illinois tax filing online  Most paid preparers must e-file returns they prepare and file. State of illinois tax filing online Your preparer may make you aware of this requirement and the options available to you. State of illinois tax filing online Treasury Inspector General for Tax Administration. State of illinois tax filing online   If you want to confidentially report misconduct, waste, fraud, or abuse by an IRS employee, you can call 1-800-366-4484 (call 1-800-877-8339 if you are deaf, hard of hearing, or have a speech disability, and are using TTY/TDD equipment). State of illinois tax filing online You can remain anonymous. State of illinois tax filing online Photographs of missing children. State of illinois tax filing online  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. State of illinois tax filing online Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. State of illinois tax filing online 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. State of illinois tax filing online Introduction This publication covers the general rules for filing a federal income tax return. State of illinois tax filing online It supplements the information contained in your tax form instructions. State of illinois tax filing online It explains the tax law to make sure you pay only the tax you owe and no more. State of illinois tax filing online How this publication is arranged. State of illinois tax filing online   This publication closely follows Form 1040, U. State of illinois tax filing online S. State of illinois tax filing online Individual Income Tax Return. State of illinois tax filing online It is divided into six parts which cover different sections of Form 1040. State of illinois tax filing online Each part is further divided into chapters which generally discuss one line of the form. State of illinois tax filing online Do not worry if you file Form 1040A or Form 1040EZ. State of illinois tax filing online Anything included on a line of either of these forms is also included on Form 1040. State of illinois tax filing online   The table of contents inside the front cover and the index in the back of the publication are useful tools to help you find the information you need. State of illinois tax filing online What is in this publication. State of illinois tax filing online   The publication begins with the rules for filing a tax return. State of illinois tax filing online It explains: Who must file a return, Which tax form to use, When the return is due, How to e-file your return, and Other general information. State of illinois tax filing online It will help you identify which filing status you qualify for, whether you can claim any dependents, and whether the income you receive is taxable. State of illinois tax filing online The publication goes on to explain the standard deduction, the kinds of expenses you may be able to deduct, and the various kinds of credits you may be able to take to reduce your tax. State of illinois tax filing online   Throughout the publication are examples showing how the tax law applies in typical situations. State of illinois tax filing online Also throughout the publication are flowcharts and tables that present tax information in an easy-to-understand manner. State of illinois tax filing online   Many of the subjects discussed in this publication are discussed in greater detail in other IRS publications. State of illinois tax filing online References to those other publications are provided for your information. State of illinois tax filing online Icons. State of illinois tax filing online   Small graphic symbols, or icons, are used to draw your attention to special information. State of illinois tax filing online See Table 1 later for an explanation of each icon used in this publication. State of illinois tax filing online What is not covered in this publication. State of illinois tax filing online   Some material that you may find helpful is not included in this publication but can be found in your tax form instruction booklet. State of illinois tax filing online This includes lists of: Where to report certain items shown on information documents, and Recorded tax information topics (TeleTax). State of illinois tax filing online   If you operate your own business or have other self-employment income, such as from babysitting or selling crafts, see the following publications for more information. State of illinois tax filing online Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ). State of illinois tax filing online Publication 535, Business Expenses. State of illinois tax filing online Publication 587, Business Use of Your Home (Including Use by Daycare Providers). State of illinois tax filing online Help from the IRS. State of illinois tax filing online   There are many ways you can get help from the IRS. State of illinois tax filing online These are explained under How To Get Tax Help in the back of this publication. State of illinois tax filing online Comments and suggestions. State of illinois tax filing online   We welcome your comments about this publication and your suggestions for future editions. State of illinois tax filing online   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. State of illinois tax filing online NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. State of illinois tax filing online Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. State of illinois tax filing online   You can send your comments from www. State of illinois tax filing online irs. State of illinois tax filing online gov/formspubs/. State of illinois tax filing online Click on “More Information” and then on “Comment on Tax Forms and Publications”. State of illinois tax filing online   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. State of illinois tax filing online Ordering forms and publications. State of illinois tax filing online   Visit www. State of illinois tax filing online irs. State of illinois tax filing online gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. State of illinois tax filing online Internal Revenue Service 1201 N. State of illinois tax filing online Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. State of illinois tax filing online   If you have a tax question, check the information available on IRS. State of illinois tax filing online gov or call 1-800-829-1040. State of illinois tax filing online We cannot answer tax questions sent to either of the above addresses. State of illinois tax filing online IRS mission. State of illinois tax filing online   Provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. State of illinois tax filing online Table 1. State of illinois tax filing online Legend of Icons Icon Explanation Items that may cause you particular problems, or an alert about pending legislation that may be enacted after this publication goes to print. State of illinois tax filing online An Internet site or an email address. State of illinois tax filing online An address you may need. State of illinois tax filing online Items you should keep in your personal records. State of illinois tax filing online Items you may need to figure or a worksheet you may need to complete and keep for your records. State of illinois tax filing online An important phone number. State of illinois tax filing online Helpful information you may need. 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The State Of Illinois Tax Filing Online

State of illinois tax filing online Internal Revenue Bulletin:  2013-12  March 18, 2013  Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2013-21 Table of Contents SECTION 1. State of illinois tax filing online PURPOSE SECTION 2. State of illinois tax filing online BACKGROUND SECTION 3. State of illinois tax filing online SCOPE SECTION 4. State of illinois tax filing online APPLICATION. State of illinois tax filing online 01 Limitations on Depreciation Deductions for Certain Automobiles. State of illinois tax filing online . State of illinois tax filing online 02 Inclusions in Income of Lessees of Passenger Automobiles. State of illinois tax filing online SECTION 5. State of illinois tax filing online EFFECTIVE DATE SECTION 6. State of illinois tax filing online DRAFTING INFORMATION SECTION 1. State of illinois tax filing online PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2013, including separate tables of limitations on depreciation deductions for trucks and vans; and (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2013, including a separate table of inclusion amounts for lessees of trucks and vans. State of illinois tax filing online 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. State of illinois tax filing online SECTION 2. State of illinois tax filing online BACKGROUND . State of illinois tax filing online 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. State of illinois tax filing online For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. State of illinois tax filing online 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. State of illinois tax filing online This change reflects the higher rate of price inflation for trucks and vans since 1988. State of illinois tax filing online . State of illinois tax filing online 02 Section 331(a) of the American Taxpayer Relief Act of 2012, Pub. State of illinois tax filing online L. State of illinois tax filing online No. State of illinois tax filing online 112-240, 126 Stat. State of illinois tax filing online 2313 (Jan. State of illinois tax filing online 2, 2013) (the “Act”) extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2014, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2014. State of illinois tax filing online Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. State of illinois tax filing online . State of illinois tax filing online 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). State of illinois tax filing online Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. State of illinois tax filing online Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2012, that is round 3 extension property (as defined in § 168(k)(4)(J)(iv)). State of illinois tax filing online Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. State of illinois tax filing online This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer: (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2013 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. State of illinois tax filing online . State of illinois tax filing online 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. State of illinois tax filing online The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. State of illinois tax filing online Under § 1. State of illinois tax filing online 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. State of illinois tax filing online One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. State of illinois tax filing online Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. State of illinois tax filing online SECTION 3. State of illinois tax filing online SCOPE . State of illinois tax filing online 01 The limitations on depreciation deductions in section 4. State of illinois tax filing online 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2013, and continue to apply for each taxable year that the passenger automobile remains in service. State of illinois tax filing online . State of illinois tax filing online 02 The tables in section 4. State of illinois tax filing online 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2013. State of illinois tax filing online 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. State of illinois tax filing online See Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2008-22, 2008-1 C. State of illinois tax filing online B. State of illinois tax filing online 658, for passenger automobiles first leased during calendar year 2008; Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2009-24, 2009-17 I. State of illinois tax filing online R. State of illinois tax filing online B. State of illinois tax filing online 885, for passenger automobiles first leased during calendar year 2009; Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2010-18, 2010-09 I. State of illinois tax filing online R. State of illinois tax filing online B. State of illinois tax filing online 427, as amplified and modified by section 4. State of illinois tax filing online 03 of Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2011-21, 2011-12 I. State of illinois tax filing online R. State of illinois tax filing online B. State of illinois tax filing online 560, for passenger automobiles first leased during calendar year 2010; Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2011-21, for passenger automobiles first leased during calendar year 2011; and Rev. State of illinois tax filing online Proc. State of illinois tax filing online 2012-23, 2012-14 I. State of illinois tax filing online R. State of illinois tax filing online B. State of illinois tax filing online 712, for passenger automobiles first leased during calendar year 2012. State of illinois tax filing online SECTION 4. State of illinois tax filing online APPLICATION . State of illinois tax filing online 01 Limitations on Depreciation Deductions for Certain Automobiles. State of illinois tax filing online (1) Amount of the inflation adjustment. State of illinois tax filing online (a) Passenger automobiles (other than trucks or vans). State of illinois tax filing online 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. State of illinois tax filing online Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. State of illinois tax filing online The new car component of the CPI was 115. State of illinois tax filing online 2 for October 1987 and 143. State of illinois tax filing online 787 for October 2012. State of illinois tax filing online The October 2012 index exceeded the October 1987 index by 28. State of illinois tax filing online 587. State of illinois tax filing online Therefore, the automobile price inflation adjustment for 2013 for passenger automobiles (other than trucks and vans) is 24. State of illinois tax filing online 8 percent (28. State of illinois tax filing online 587/115. State of illinois tax filing online 2 x 100%). State of illinois tax filing online The dollar limitations in § 280F(a) are multiplied by a factor of 0. State of illinois tax filing online 248, 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 2013. State of illinois tax filing online This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2013. State of illinois tax filing online (b) Trucks and vans. State of illinois tax filing online To determine the dollar limitations for trucks and vans first placed in service during calendar year 2013, the Service uses the new truck component of the CPI instead of the new car component. State of illinois tax filing online The new truck component of the CPI was 112. State of illinois tax filing online 4 for October 1987 and 149. State of illinois tax filing online 386 for October 2012. State of illinois tax filing online The October 2012 index exceeded the October 1987 index by 36. State of illinois tax filing online 986. State of illinois tax filing online Therefore, the automobile price inflation adjustment for 2013 for trucks and vans is 32. State of illinois tax filing online 9 percent (36. State of illinois tax filing online 986/112. State of illinois tax filing online 4 x 100%). State of illinois tax filing online The dollar limitations in § 280F(a) are multiplied by a factor of 0. State of illinois tax filing online 329, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. State of illinois tax filing online This adjustment applies to all trucks and vans that are first placed in service in calendar year 2013. State of illinois tax filing online (2) Amount of the limitation. State of illinois tax filing online Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2013. State of illinois tax filing online Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2013 for which the § 168(k) additional first year depreciation deduction applies. State of illinois tax filing online Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2013 for which the § 168(k) additional first year depreciation deduction does not apply. State of illinois tax filing online REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,360 2nd Tax Year $5,400 3rd Tax Year $3,250 Each Succeeding Year $1,975 REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,360 2nd Tax Year $5,400 3rd Tax Year $3,250 Each Succeeding Year $1,975 . State of illinois tax filing online 02 Inclusions in Income of Lessees of Passenger Automobiles. State of illinois tax filing online A taxpayer must follow the procedures in § 1. State of illinois tax filing online 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2013. State of illinois tax filing online In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. State of illinois tax filing online REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2013 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 2 4 6 7 8 19,500 20,000 2 5 6 9 9 20,000 20,500 2 5 8 9 11 20,500 21,000 3 6 8 10 12 21,000 21,500 3 6 10 11 13 21,500 22,000 3 7 10 13 14 22,000 23,000 4 8 11 14 16 23,000 24,000 4 9 14 16 18 24,000 25,000 5 10 15 18 21 25,000 26,000 5 12 16 21 23 26,000 27,000 6 12 19 23 25 27,000 28,000 6 14 20 25 28 28,000 29,000 7 15 22 27 30 29,000 30,000 7 16 24 29 33 30,000 31,000 8 17 26 31 35 31,000 32,000 8 19 27 33 38 32,000 33,000 9 20 29 35 40 33,000 34,000 10 21 31 37 43 34,000 35,000 10 22 33 39 45 35,000 36,000 11 23 35 41 48 36,000 37,000 11 25 36 43 50 37,000 38,000 12 26 38 45 53 38,000 39,000 12 27 40 47 55 39,000 40,000 13 28 42 49 58 40,000 41,000 13 29 44 52 59 41,000 42,000 14 30 45 54 63 42,000 43,000 14 32 47 56 64 43,000 44,000 15 33 48 59 67 44,000 45,000 15 34 51 60 69 45,000 46,000 16 35 52 63 72 46,000 47,000 17 36 54 65 74 47,000 48,000 17 38 55 67 77 48,000 49,000 18 39 57 69 79 49,000 50,000 18 40 59 71 82 50,000 51,000 19 41 61 73 84 51,000 52,000 19 42 63 75 87 52,000 53,000 20 43 65 77 89 53,000 54,000 20 45 66 79 92 54,000 55,000 21 46 68 81 94 55,000 56,000 21 47 70 84 96 56,000 57,000 22 48 72 85 99 57,000 58,000 22 50 73 88 101 58,000 59,000 23 51 75 90 103 59,000 60,000 24 52 76 92 106 60,000 62,000 24 54 79 95 110 62,000 64,000 25 56 83 99 115 64,000 66,000 27 58 87 103 120 66,000 68,000 28 60 90 108 125 68,000 70,000 29 63 93 112 130 70,000 72,000 30 65 97 117 134 72,000 74,000 31 68 100 121 139 74,000 76,000 32 70 104 125 144 76,000 78,000 33 73 107 129 149 78,000 80,000 34 75 111 133 154 80,000 85,000 36 79 117 141 162 85,000 90,000 39 85 126 151 174 90,000 95,000 41 91 135 162 186 95,000 100,000 44 97 144 172 199 100,000 110,000 48 106 157 188 217 110,000 120,000 53 118 174 210 241 120,000 130,000 59 129 193 230 266 130,000 140,000 64 141 210 252 290 140,000 150,000 70 153 227 273 315 150,000 160,000 75 165 245 294 339 160,000 170,000 80 177 263 315 363 170,000 180,000 86 189 280 336 388 180,000 190,000 91 201 298 357 412 190,000 200,000 97 212 316 378 436 200,000 210,000 102 224 333 400 461 210,000 220,000 107 236 351 420 486 220,000 230,000 113 248 368 442 509 230,000 240,000 118 260 386 463 534 240,000 And up 124 272 403 484 558 REV. State of illinois tax filing online PROC. State of illinois tax filing online 2013-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2013 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 1 3 4 5 6 19,500 20,000 2 3 5 6 7 20,000 20,500 2 4 6 7 8 20,500 21,000 2 5 7 8 9 21,000 21,500 2 5 8 9 11 21,500 22,000 3 6 8 10 12 22,000 23,000 3 7 10 11 14 23,000 24,000 4 8 11 14 16 24,000 25,000 4 9 14 16 18 25,000 26,000 5 10 15 18 21 26,000 27,000 5 12 17 20 23 27,000 28,000 6 13 18 23 25 28,000 29,000 6 14 20 25 28 29,000 30,000 7 15 22 27 30 30,000 31,000 7 16 24 29 33 31,000 32,000 8 17 26 31 35 32,000 33,000 8 19 27 33 38 33,000 34,000 9 20 29 35 41 34,000 35,000 10 21 31 37 43 35,000 36,000 10 22 33 39 46 36,000 37,000 11 23 35 41 48 37,000 38,000 11 25 36 43 51 38,000 39,000 12 26 38 45 53 39,000 40,000 12 27 40 48 55 40,000 41,000 13 28 42 49 58 41,000 42,000 13 29 44 52 60 42,000 43,000 14 30 46 54 62 43,000 44,000 14 32 47 56 65 44,000 45,000 15 33 48 59 67 45,000 46,000 15 34 51 60 70 46,000 47,000 16 35 52 63 72 47,000 48,000 17 36 54 65 74 48,000 49,000 17 38 55 67 77 49,000 50,000 18 39 57 69 79 50,000 51,000 18 40 59 71 82 51,000 52,000 19 41 61 73 84 52,000 53,000 19 42 63 75 87 53,000 54,000 20 43 65 77 89 54,000 55,000 20 45 66 80 91 55,000 56,000 21 46 68 81 94 56,000 57,000 21 47 70 84 96 57,000 58,000 22 48 72 86 98 58,000 59,000 22 50 73 88 101 59,000 60,000 23 51 75 90 103 60,000 62,000 24 52 78 93 108 62,000 64,000 25 55 81 97 113 64,000 66,000 26 57 85 101 118 66,000 68,000 27 60 88 106 122 68,000 70,000 28 62 92 110 127 70,000 72,000 29 64 96 114 132 72,000 74,000 30 67 99 118 137 74,000 76,000 31 69 103 122 142 76,000 78,000 32 72 105 127 147 78,000 80,000 34 73 110 131 151 80,000 85,000 35 78 116 138 160 85,000 90,000 38 84 124 149 172 90,000 95,000 41 90 133 160 184 95,000 100,000 44 95 142 171 196 100,000 110,000 48 104 156 186 214 110,000 120,000 53 116 173 207 240 120,000 130,000 58 128 191 228 264 130,000 140,000 64 140 208 249 288 140,000 150,000 69 152 226 270 313 150,000 160,000 75 164 243 292 336 160,000 170,000 80 176 261 312 361 170,000 180,000 85 188 278 334 386 180,000 190,000 91 199 296 355 410 190,000 200,000 96 211 314 376 434 200,000 210,000 101 223 332 397 459 210,000 220,000 107 235 349 418 483 220,000 230,000 112 247 367 439 507 230,000 240,000 118 259 384 460 532 240,000 And up 123 271 401 482 556 SECTION 5. State of illinois tax filing online EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2013. State of illinois tax filing online SECTION 6. State of illinois tax filing online DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. State of illinois tax filing online Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). State of illinois tax filing online For further information regarding this revenue procedure, contact Mr. State of illinois tax filing online Harvey at (202) 622-4930 (not a toll-free call). State of illinois tax filing online Prev  Up  Next   Home   More Internal Revenue Bulletins