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Tax Software 2005 2006

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Tax Software 2005 2006

Tax software 2005 2006 3. Tax software 2005 2006   SIMPLE Plans Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: SIMPLE IRA PlanWho Can Set Up a SIMPLE IRA Plan? Who Can Participate in a SIMPLE IRA Plan? How To Set Up a SIMPLE IRA Plan Notification Requirement Contribution Limits When To Deduct Contributions Where To Deduct Contributions Tax Treatment of Contributions Distributions (Withdrawals) More Information on SIMPLE IRA Plans SIMPLE 401(k) Plan Topics - This chapter discusses: SIMPLE IRA plan SIMPLE 401(k) plan Useful Items - You may want to see: Publications 590 Individual Retirement Arrangements (IRAs) 3998 Choosing A Retirement Solution for Your Small Business 4284 SIMPLE IRA Plan Checklist 4334 SIMPLE IRA Plans for Small Businesses Forms (and Instructions) W-2 Wage and Tax Statement 5304-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–Not for Use With a Designated Financial Institution 5305-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–for Use With a Designated Financial Institution 8880 Credit for Qualified Retirement Savings Contributions 8881 Credit for Small Employer Pension Plan Startup Costs A savings incentive match plan for employees (SIMPLE plan) is a written arrangement that provides you and your employees with a simplified way to make contributions to provide retirement income. Tax software 2005 2006 Under a SIMPLE plan, employees can choose to make salary reduction contributions to the plan rather than receiving these amounts as part of their regular pay. Tax software 2005 2006 In addition, you will contribute matching or nonelective contributions. Tax software 2005 2006 SIMPLE plans can only be maintained on a calendar-year basis. Tax software 2005 2006 A SIMPLE plan can be set up in either of the following ways. Tax software 2005 2006 Using SIMPLE IRAs (SIMPLE IRA plan). Tax software 2005 2006 As part of a 401(k) plan (SIMPLE 401(k) plan). Tax software 2005 2006 Many financial institutions will help you set up a SIMPLE plan. Tax software 2005 2006 SIMPLE IRA Plan A SIMPLE IRA plan is a retirement plan that uses SIMPLE IRAs for each eligible employee. Tax software 2005 2006 Under a SIMPLE IRA plan, a SIMPLE IRA must be set up for each eligible employee. Tax software 2005 2006 For the definition of an eligible employee, see Who Can Participate in a SIMPLE IRA Plan , later. Tax software 2005 2006 Who Can Set Up a SIMPLE IRA Plan? You can set up a SIMPLE IRA plan if you meet both the following requirements. Tax software 2005 2006 You meet the employee limit. Tax software 2005 2006 You do not maintain another qualified plan unless the other plan is for collective bargaining employees. Tax software 2005 2006 Employee limit. Tax software 2005 2006   You can set up a SIMPLE IRA plan only if you had 100 or fewer employees who received $5,000 or more in compensation from you for the preceding year. Tax software 2005 2006 Under this rule, you must take into account all employees employed at any time during the calendar year regardless of whether they are eligible to participate. Tax software 2005 2006 Employees include self-employed individuals who received earned income and leased employees (defined in chapter 1). Tax software 2005 2006   Once you set up a SIMPLE IRA plan, you must continue to meet the 100-employee limit each year you maintain the plan. Tax software 2005 2006 Grace period for employers who cease to meet the 100-employee limit. Tax software 2005 2006   If you maintain the SIMPLE IRA plan for at least 1 year and you cease to meet the 100-employee limit in a later year, you will be treated as meeting it for the 2 calendar years immediately following the calendar year for which you last met it. Tax software 2005 2006   A different rule applies if you do not meet the 100-employee limit because of an acquisition, disposition, or similar transaction. Tax software 2005 2006 Under this rule, the SIMPLE IRA plan will be treated as meeting the 100-employee limit for the year of the transaction and the 2 following years if both the following conditions are satisfied. Tax software 2005 2006 Coverage under the plan has not significantly changed during the grace period. Tax software 2005 2006 The SIMPLE IRA plan would have continued to qualify after the transaction if you had remained a separate employer. Tax software 2005 2006    The grace period for acquisitions, dispositions, and similar transactions also applies if, because of these types of transactions, you do not meet the rules explained under Other qualified plan or Who Can Participate in a SIMPLE IRA Plan, below. Tax software 2005 2006 Other qualified plan. Tax software 2005 2006   The SIMPLE IRA plan generally must be the only retirement plan to which you make contributions, or to which benefits accrue, for service in any year beginning with the year the SIMPLE IRA plan becomes effective. Tax software 2005 2006 Exception. Tax software 2005 2006   If you maintain a qualified plan for collective bargaining employees, you are permitted to maintain a SIMPLE IRA plan for other employees. Tax software 2005 2006 Who Can Participate in a SIMPLE IRA Plan? Eligible employee. Tax software 2005 2006   Any employee who received at least $5,000 in compensation during any 2 years preceding the current calendar year and is reasonably expected to receive at least $5,000 during the current calendar year is eligible to participate. Tax software 2005 2006 The term “employee” includes a self-employed individual who received earned income. Tax software 2005 2006   You can use less restrictive eligibility requirements (but not more restrictive ones) by eliminating or reducing the prior year compensation requirements, the current year compensation requirements, or both. Tax software 2005 2006 For example, you can allow participation for employees who received at least $3,000 in compensation during any preceding calendar year. Tax software 2005 2006 However, you cannot impose any other conditions for participating in a SIMPLE IRA plan. Tax software 2005 2006 Excludable employees. Tax software 2005 2006   The following employees do not need to be covered under a SIMPLE IRA plan. Tax software 2005 2006 Employees who are covered by a union agreement and whose retirement benefits were bargained for in good faith by the employees' union and you. Tax software 2005 2006 Nonresident alien employees who have received no U. Tax software 2005 2006 S. Tax software 2005 2006 source wages, salaries, or other personal services compensation from you. Tax software 2005 2006 Compensation. Tax software 2005 2006   Compensation for employees is the total wages, tips, and other compensation from the employer subject to federal income tax withholding and the amounts paid for domestic service in a private home, local college club, or local chapter of a college fraternity or sorority. Tax software 2005 2006 Compensation also includes the employee's salary reduction contributions made under this plan and, if applicable, elective deferrals under a section 401(k) plan, a SARSEP, or a section 403(b) annuity contract and compensation deferred under a section 457 plan required to be reported by the employer on Form W-2. Tax software 2005 2006 If you are self-employed, compensation is your net earnings from self-employment (line 4 of Short Schedule SE or line 6 of Long Schedule SE (Form 1040)) before subtracting any contributions made to the SIMPLE IRA plan for yourself. Tax software 2005 2006 How To Set Up a SIMPLE IRA Plan You can use Form 5304-SIMPLE or Form 5305-SIMPLE to set up a SIMPLE IRA plan. Tax software 2005 2006 Each form is a model savings incentive match plan for employees (SIMPLE) plan document. Tax software 2005 2006 Which form you use depends on whether you select a financial institution or your employees select the institution that will receive the contributions. Tax software 2005 2006 Use Form 5304-SIMPLE if you allow each plan participant to select the financial institution for receiving his or her SIMPLE IRA plan contributions. Tax software 2005 2006 Use Form 5305-SIMPLE if you require that all contributions under the SIMPLE IRA plan be deposited initially at a designated financial institution. Tax software 2005 2006 The SIMPLE IRA plan is adopted when you have completed all appropriate boxes and blanks on the form and you (and the designated financial institution, if any) have signed it. Tax software 2005 2006 Keep the original form. Tax software 2005 2006 Do not file it with the IRS. Tax software 2005 2006 Other uses of the forms. Tax software 2005 2006   If you set up a SIMPLE IRA plan using Form 5304-SIMPLE or Form 5305-SIMPLE, you can use the form to satisfy other requirements, including the following. Tax software 2005 2006 Meeting employer notification requirements for the SIMPLE IRA plan. Tax software 2005 2006 Form 5304-SIMPLE and Form 5305-SIMPLE contain a Model Notification to Eligible Employees that provides the necessary information to the employee. Tax software 2005 2006 Maintaining the SIMPLE IRA plan records and proving you set up a SIMPLE IRA plan for employees. Tax software 2005 2006 Deadline for setting up a SIMPLE IRA plan. Tax software 2005 2006   You can set up a SIMPLE IRA plan effective on any date from January 1 through October 1 of a year, provided you did not previously maintain a SIMPLE IRA plan. Tax software 2005 2006 This requirement does not apply if you are a new employer that comes into existence after October 1 of the year the SIMPLE IRA plan is set up and you set up a SIMPLE IRA plan as soon as administratively feasible after your business comes into existence. Tax software 2005 2006 If you previously maintained a SIMPLE IRA plan, you can set up a SIMPLE IRA plan effective only on January 1 of a year. Tax software 2005 2006 A SIMPLE IRA plan cannot have an effective date that is before the date you actually adopt the plan. Tax software 2005 2006 Setting up a SIMPLE IRA. Tax software 2005 2006   SIMPLE IRAs are the individual retirement accounts or annuities into which the contributions are deposited. Tax software 2005 2006 A SIMPLE IRA must be set up for each eligible employee. Tax software 2005 2006 Forms 5305-S, SIMPLE Individual Retirement Trust Account, and 5305-SA, SIMPLE Individual Retirement Custodial Account, are model trust and custodial account documents the participant and the trustee (or custodian) can use for this purpose. Tax software 2005 2006   A SIMPLE IRA cannot be a Roth IRA. Tax software 2005 2006 Contributions to a SIMPLE IRA will not affect the amount an individual can contribute to a Roth or traditional IRA. Tax software 2005 2006 Deadline for setting up a SIMPLE IRA. Tax software 2005 2006   A SIMPLE IRA must be set up for an employee before the first date by which a contribution is required to be deposited into the employee's IRA. Tax software 2005 2006 See Time limits for contributing funds , later, under Contribution Limits. Tax software 2005 2006 Credit for startup costs. Tax software 2005 2006   You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SIMPLE IRA plan that first became effective in 2013. Tax software 2005 2006 For more information, see Credit for startup costs under Reminders, earlier. Tax software 2005 2006 Notification Requirement If you adopt a SIMPLE IRA plan, you must notify each employee of the following information before the beginning of the election period. Tax software 2005 2006 The employee's opportunity to make or change a salary reduction choice under a SIMPLE IRA plan. Tax software 2005 2006 Your decision to make either matching contributions or nonelective contributions (discussed later). Tax software 2005 2006 A summary description provided by the financial institution. Tax software 2005 2006 Written notice that his or her balance can be transferred without cost or penalty if they use a designated financial institution. Tax software 2005 2006 Election period. Tax software 2005 2006   The election period is generally the 60-day period immediately preceding January 1 of a calendar year (November 2 to December 31 of the preceding calendar year). Tax software 2005 2006 However, the dates of this period are modified if you set up a SIMPLE IRA plan in mid-year (for example, on July 1) or if the 60-day period falls before the first day an employee becomes eligible to participate in the SIMPLE IRA plan. Tax software 2005 2006   A SIMPLE IRA plan can provide longer periods for permitting employees to enter into salary reduction agreements or to modify prior agreements. Tax software 2005 2006 For example, a SIMPLE IRA plan can provide a 90-day election period instead of the 60-day period. Tax software 2005 2006 Similarly, in addition to the 60-day period, a SIMPLE IRA plan can provide quarterly election periods during the 30 days before each calendar quarter, other than the first quarter of each year. Tax software 2005 2006 Contribution Limits Contributions are made up of salary reduction contributions and employer contributions. Tax software 2005 2006 You, as the employer, must make either matching contributions or nonelective contributions, defined later. Tax software 2005 2006 No other contributions can be made to the SIMPLE IRA plan. Tax software 2005 2006 These contributions, which you can deduct, must be made timely. Tax software 2005 2006 See Time limits for contributing funds , later. Tax software 2005 2006 Salary reduction contributions. Tax software 2005 2006   The amount the employee chooses to have you contribute to a SIMPLE IRA on his or her behalf cannot be more than $12,000 for 2013 and 2014. Tax software 2005 2006 These contributions must be expressed as a percentage of the employee's compensation unless you permit the employee to express them as a specific dollar amount. Tax software 2005 2006 You cannot place restrictions on the contribution amount (such as limiting the contribution percentage), except to comply with the $12,000 limit. Tax software 2005 2006   If you or an employee participates in any other qualified plan during the year and you or your employee have salary reduction contributions (elective deferrals) under those plans, the salary reduction contributions under a SIMPLE IRA plan also count toward the overall annual limit ($17,500 for 2013 and 2014) on exclusion of salary reduction contributions and other elective deferrals. Tax software 2005 2006 Catch-up contributions. Tax software 2005 2006   A SIMPLE IRA plan can permit participants who are age 50 or over at the end of the calendar year to also make catch-up contributions. Tax software 2005 2006 The catch-up contribution limit for 2013 and 2014 for SIMPLE IRA plans is $2,500. Tax software 2005 2006 Salary reduction contributions are not treated as catch-up contributions for 2013 or 2014 until they exceed $12,000. Tax software 2005 2006 However, the catch-up contribution a participant can make for a year cannot exceed the lesser of the following amounts. Tax software 2005 2006 The catch-up contribution limit. Tax software 2005 2006 The excess of the participant's compensation over the salary reduction contributions that are not catch-up contributions. Tax software 2005 2006 Employer matching contributions. Tax software 2005 2006   You are generally required to match each employee's salary reduction contributions on a dollar-for-dollar basis up to 3% of the employee's compensation. Tax software 2005 2006 This requirement does not apply if you make nonelective contributions as discussed later. Tax software 2005 2006 Example. Tax software 2005 2006 In 2013, your employee, John Rose, earned $25,000 and chose to defer 5% of his salary. Tax software 2005 2006 Your net earnings from self-employment are $40,000, and you choose to contribute 10% of your earnings to your SIMPLE IRA. Tax software 2005 2006 You make 3% matching contributions. Tax software 2005 2006 The total contribution you make for John is $2,000, figured as follows. Tax software 2005 2006 Salary reduction contributions ($25,000 × . Tax software 2005 2006 05) $1,250 Employer matching contribution ($25,000 × . Tax software 2005 2006 03) 750 Total contributions $2,000     The total contribution you make for yourself is $5,200, figured as follows. Tax software 2005 2006 Salary reduction contributions ($40,000 × . Tax software 2005 2006 10) $4,000 Employer matching contribution ($40,000 × . Tax software 2005 2006 03) 1,200 Total contributions $5,200 Lower percentage. Tax software 2005 2006   If you choose a matching contribution less than 3%, the percentage must be at least 1%. Tax software 2005 2006 You must notify the employees of the lower match within a reasonable period of time before the 60-day election period (discussed earlier) for the calendar year. Tax software 2005 2006 You cannot choose a percentage less than 3% for more than 2 years during the 5-year period that ends with (and includes) the year for which the choice is effective. Tax software 2005 2006 Nonelective contributions. Tax software 2005 2006   Instead of matching contributions, you can choose to make nonelective contributions of 2% of compensation on behalf of each eligible employee who has at least $5,000 (or some lower amount you select) of compensation from you for the year. Tax software 2005 2006 If you make this choice, you must make nonelective contributions whether or not the employee chooses to make salary reduction contributions. Tax software 2005 2006 Only $255,000 of the employee's compensation can be taken into account to figure the contribution limit in 2013 ($260,000 in 2014). Tax software 2005 2006   If you choose this 2% contribution formula, you must notify the employees within a reasonable period of time before the 60-day election period (discussed earlier) for the calendar year. Tax software 2005 2006 Example 1. Tax software 2005 2006 In 2013, your employee, Jane Wood, earned $36,000 and chose to have you contribute 10% of her salary. Tax software 2005 2006 Your net earnings from self-employment are $50,000, and you choose to contribute 10% of your earnings to your SIMPLE IRA. Tax software 2005 2006 You make a 2% nonelective contribution. Tax software 2005 2006 Both of you are under age 50. Tax software 2005 2006 The total contribution you make for Jane is $4,320, figured as follows. Tax software 2005 2006 Salary reduction contributions ($36,000 × . Tax software 2005 2006 10) $3,600 2% nonelective contributions ($36,000 × . Tax software 2005 2006 02) 720 Total contributions $4,320     The total contribution you make for yourself is $6,000, figured as follows. Tax software 2005 2006 Salary reduction contributions ($50,000 × . Tax software 2005 2006 10) $5,000 2% nonelective contributions ($50,000 × . Tax software 2005 2006 02) 1,000 Total contributions $6,000 Example 2. Tax software 2005 2006 Using the same facts as in Example 1, above, the maximum contribution you make for Jane or for yourself if you each earned $75,000 is $13,500, figured as follows. Tax software 2005 2006 Salary reduction contributions (maximum amount allowed) $12,000 2% nonelective contributions ($75,000 × . Tax software 2005 2006 02) 1,500 Total contributions $13,500 Time limits for contributing funds. Tax software 2005 2006   You must make the salary reduction contributions to the SIMPLE IRA within 30 days after the end of the month in which the amounts would otherwise have been payable to the employee in cash. Tax software 2005 2006 You must make matching contributions or nonelective contributions by the due date (including extensions) for filing your federal income tax return for the year. Tax software 2005 2006 Certain plans subject to Department of Labor rules may have an earlier due date for salary reduction contributions. Tax software 2005 2006 When To Deduct Contributions You can deduct SIMPLE IRA contributions in the tax year within which the calendar year for which contributions were made ends. Tax software 2005 2006 You can deduct contributions for a particular tax year if they are made for that tax year and are made by the due date (including extensions) of your federal income tax return for that year. Tax software 2005 2006 Example 1. Tax software 2005 2006 Your tax year is the fiscal year ending June 30. Tax software 2005 2006 Contributions under a SIMPLE IRA plan for the calendar year 2013 (including contributions made in 2013 before July 1, 2013) are deductible in the tax year ending June 30, 2014. Tax software 2005 2006 Example 2. Tax software 2005 2006 You are a sole proprietor whose tax year is the calendar year. Tax software 2005 2006 Contributions under a SIMPLE IRA plan for the calendar year 2013 (including contributions made in 2014 by April 15, 2014) are deductible in the 2013 tax year. Tax software 2005 2006 Where To Deduct Contributions Deduct the contributions you make for your common-law employees on your tax return. Tax software 2005 2006 For example, sole proprietors deduct them on Schedule C (Form 1040) or Schedule F (Form 1040); partnerships deduct them on Form 1065; and corporations deduct them on Form 1120 or Form 1120S. Tax software 2005 2006 Sole proprietors and partners deduct contributions for themselves on line 28 of Form 1040. Tax software 2005 2006 (If you are a partner, contributions for yourself are shown on the Schedule K-1 (Form 1065) you receive from the partnership. Tax software 2005 2006 ) Tax Treatment of Contributions You can deduct your contributions and your employees can exclude these contributions from their gross income. Tax software 2005 2006 SIMPLE IRA plan contributions are not subject to federal income tax withholding. Tax software 2005 2006 However, salary reduction contributions are subject to social security, Medicare, and federal unemployment (FUTA) taxes. Tax software 2005 2006 Matching and nonelective contributions are not subject to these taxes. Tax software 2005 2006 Reporting on Form W-2. Tax software 2005 2006   Do not include SIMPLE IRA plan contributions in the “Wages, tips, other compensation” box of Form W-2. Tax software 2005 2006 You must, however, include them in the “Social security wages” and “Medicare wages and tips” boxes. Tax software 2005 2006 You must also include them in box 12. Tax software 2005 2006 Mark the “Retirement plan” checkbox in box 13. Tax software 2005 2006 For more information, see the Form W-2 instructions. Tax software 2005 2006 Distributions (Withdrawals) Distributions from a SIMPLE IRA are subject to IRA rules and generally are includible in income for the year received. Tax software 2005 2006 Tax-free rollovers can be made from one SIMPLE IRA into another SIMPLE IRA. Tax software 2005 2006 However, a rollover from a SIMPLE IRA to a non-SIMPLE IRA can be made tax free only after a 2-year participation in the SIMPLE IRA plan. Tax software 2005 2006 Generally, you or your employee must begin to receive distributions from a SIMPLE IRA by April 1 of the first year after the calendar year in which you or your employee reaches age 70½. Tax software 2005 2006 Early withdrawals generally are subject to a 10% additional tax. Tax software 2005 2006 However, the additional tax is increased to 25% if funds are withdrawn within 2 years of beginning participation. Tax software 2005 2006 More information. Tax software 2005 2006   See Publication 590 for information about IRA rules, including those on the tax treatment of distributions, rollovers, required distributions, and income tax withholding. Tax software 2005 2006 More Information on SIMPLE IRA Plans If you need help to set up or maintain a SIMPLE IRA plan, go to the IRS website and search SIMPLE IRA Plan. Tax software 2005 2006 SIMPLE 401(k) Plan You can adopt a SIMPLE plan as part of a 401(k) plan if you meet the 100-employee limit as discussed earlier under SIMPLE IRA Plan. Tax software 2005 2006 A SIMPLE 401(k) plan is a qualified retirement plan and generally must satisfy the rules discussed under Qualification Rules in chapter 4, including the required distribution rules. Tax software 2005 2006 However, a SIMPLE 401(k) plan is not subject to the nondiscrimination and top-heavy rules discussed in chapter 4 if the plan meets the conditions listed below. Tax software 2005 2006 Under the plan, an employee can choose to have you make salary reduction contributions for the year to a trust in an amount expressed as a percentage of the employee's compensation, but not more than $12,000 for 2013 and 2014. Tax software 2005 2006 If permitted under the plan, an employee who is age 50 or over can also make a catch-up contribution of up to $2,500 for 2013 and 2014. Tax software 2005 2006 See Catch-up contributions , earlier under Contribution Limits. Tax software 2005 2006 You must make either: Matching contributions up to 3% of compensation for the year, or Nonelective contributions of 2% of compensation on behalf of each eligible employee who has at least $5,000 of compensation from you for the year. Tax software 2005 2006 No other contributions can be made to the trust. Tax software 2005 2006 No contributions are made, and no benefits accrue, for services during the year under any other qualified retirement plan sponsored by you on behalf of any employee eligible to participate in the SIMPLE 401(k) plan. Tax software 2005 2006 The employee's rights to any contributions are nonforfeitable. Tax software 2005 2006 No more than $255,000 of the employee's compensation can be taken into account in figuring matching contributions and nonelective contributions in 2013 ($260,000 in 2014). Tax software 2005 2006 Compensation is defined earlier in this chapter. Tax software 2005 2006 Employee notification. Tax software 2005 2006   The notification requirement that applies to SIMPLE IRA plans also applies to SIMPLE 401(k) plans. Tax software 2005 2006 See Notification Requirement in this chapter. Tax software 2005 2006 Credit for startup costs. Tax software 2005 2006   You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SIMPLE 401(k) plan that first became effective in 2013. Tax software 2005 2006 For more information, see Credit for startup costs under Reminders, earlier. Tax software 2005 2006 Note on Forms. Tax software 2005 2006   Please note that Forms 5304-SIMPLE and 5305-SIMPLE can not be used to establish a SIMPLE 401(k) plan. Tax software 2005 2006 To set up a SIMPLE 401(k) plan, see Adopting a Written Plan in chapter 4. Tax software 2005 2006 Prev  Up  Next   Home   More Online Publications
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Safeguards Program

The Safeguards Program and staff are responsible for ensuring that federal, state and local agencies receiving federal tax information protect it as if the information remained in IRS’s hands.

These agencies and their contractors receiving federal tax information must protect the confidentiality of return information and are periodically reviewed by Safeguards personnel to ensure they meet the safeguarding requirements of IRC 6103(p)(4). These requirements include employee awareness programs, proper disposal, secure storage and computer security among others.

Publication 1075, Tax Information Security Guidelines for Federal, State and Local Agencies (PDF)
This document contains specific requirements for safeguarding federal tax information. This revision becomes effective on Jan. 1, 2014.

Publication 1075, Tax Information Security Guidelines for Federal, State and Local Agencies (PDF)
This revision of 1075 became effective on Aug. 24, 2010 and is superceded by the Jan. 1, 2014 version.

Comments and suggestions on the revised Publication 1075 can be forwarded to the safeguards mailbox at: safeguardreports@irs.gov.

Additional Requirements for Publication 1075
Safeguarding requirements may be supplemented or modified between editions of Publication 1075 by guidance issued by the Office of Safeguards.
 

ALERTS

See “Safeguards Alert Memorandums” below for trending security concerns.


Publication 1075

Recommendations on How to Become Compliant with the New Requirements
Given the significant changes in technical safeguards requirements found in Sections 4, 5 and 6, the IRS has some recommendations for agencies to become compliant with the new requirements.

Reporting Requirements
Publication 1075 requires agencies to use approved report templates and to transmit the reports electronically. These reports must be encrypted and submitted to the safeguardreports@irs.gov mailbox.

Reporting Unauthorized Accesses, Disclosures or Data Breaches
Local, state and federal agencies receiving federal tax information must follow the revised provisions of Section 10 of Publication 1075 (PDF) upon discovering a possible improper inspection or disclosure of FTI, including breaches and security incidents. Agencies must contact Treasury Inspector General for Tax Administration and the IRS Office of Safeguards immediately, but no later than 24-hours after identification of a possible issue involving federal tax information. Agencies are not to wait until after their own internal investigation as been conducted.

Contacting TIGTA is critical to expedite the recovery of compromised data and identify potential criminal acts. The IRS Office of Safeguards investigation focuses on identifying processes, procedures or systems within the agency with inadequate security controls which led to the incident.

Internal Inspections Reports
Section 6.3 of Publication 1075, Tax Information Security guidelines for Federal, State and Local Agencies and Entities, requires that agencies receiving federal tax information (FTI) establish a review cycle for internal inspections of headquarters offices and all local/field offices that receive FTI. The Internal Inspections Report – Headquarters Office and Internal Inspections Report – Field Office are for these inspections. 

In addition, these agencies must also include an internal inspection of IT operations, using the Internal Inspections Report – IT Operations. Internal inspections of contractors with access to FTI and any off-site storage facilities must also be completed. All scheduled and completed internal inspections should be provided to the IRS Office of Safeguards on the Internal Inspections Implementation Report.

Safeguards Technical Assistance by Topic
The IRS has recommendations and discussions on various Safeguards Program topics available for agencies to help stay in compliance. These documents may assist with preparation of reports, protecting federal tax information, and knowing the legalities of the Safeguards Program.

IRS Disclosure Awareness Videos
IRS Disclosure Awareness training videos are available for local, state and federal governmental agencies that receive federal tax information (FTI). The IRS Office of Safeguards created videos (with captions in English and Spanish) to help explain several key concepts in protecting the confidentiality of FTI.

References/Related Topics

Physical Security and Disclosure References/Related Topics
Publication 1075 requirements pertaining to the protection of FTI in a physical environment and the disclosure of FTI to other persons are available in the Safeguard Disclosure Security Evaluation Matrix.

Document

Version

Release Date

Safeguard Disclosure Security Evaluation Matrix (SDSEM) (XLS)

3.0

9/12/2012


Safeguards Alert Memorandums
The following resources address recent security trends regarding the protection of FTI.

Document

Version

Release Date

Alert Memo – Multi-factor Authentication Implementation

N/A

6/17/2013

Alert Memo – Protecting FTI On Mainframes with Open Port 23

N/A

6/17/2013


Computer Security Compliance References/Related Topics
The following Computer Security Evaluation Matrix (SCSEM) downloads are available for use in preparing an IT environment that will receive, process, or store FTI.

Document

Version

Release Date

Application – Generic Application SCSEM (XLS)

1.3

9/26/2013

Application – GenTax SCSEM (XLS)

1.3

9/26/2013

Application – Internet Explorer SCSEM (XLS)

1.2

9/26/2013

Database – DB2 SCSEM (XLS)

1.2

2/12/2013

Database – Oracle 11g SCSEM (XLS)

1.1

9/26/2013

Database – Oracle 10g SCSEM (XLS)

1.3

9/26/2013

Database – Oracle 9i SCSEM (XLS)

1.2

2/12/2013

Database – SQL Server 2000 SCSEM (XLS)

1.2

2/12/2013

Database – SQL Server 2005 SCSEM (XLS)

1.2

2/12/2013

Mainframe – ACF2 SCSEM (XLS)

1.3

9/26/2013

Mainframe – i5 OS SCSEM (XLS)

1.3

9/26/2013

Mainframe – RACF SCSEM (XLS)

1.3

9/26/2013

Mainframe – Top Secret SCSEM (XLS)

1.3

9/26/2013

Mainframe – UNISYS SCSEM (XLS)

2.4

9/26/2013

Management, Operational and Technical (MOT) (XLS)

2.0

9/27/2013

MOT Appendix – Data Warehouse SCSEM (XLS)

1.3

2/12/2013

MOT Appendix – Multi-functional Device SCSEM (MFD) (XLS)

2.2

2/12/2013

Network – Cisco IOS SCSEM (XLS)

1.2

9/26/2013

Network – Firewall SCSEM (XLS)

1.2

9/26/2013

Network – Network Assessment SCSEM (XLS)

1.2

9/26/2013

Network – Storage Area Network SCSEM (SAN) (XLS)

1.2

9/26/2013

Network – Virtual Private Network (VPN) SCSEM (XLS)

1.2

9/26/2013

Network – Voice Over Internet Protocol (VoIP) SCSEM (XLS)

1.2

9/26/2013

Network – Wireless Local Area Network (LAN) SCSEM (XLS)

1.2

9/26/2013

Other – Cloud Computing SCSEM (XLS)

1.0

4/1/2013

Other - Oracle Public Sector Revenue Management (PSRM) (formerly Enterprise Taxation and Policy Management (ETPM))

1.1

2/5/2014

Other – Generic Operating System SCSEM (XLS)

1.3

2/12/2013

Other – Mobile Devices SCSEM (XLS)

1.0

4/1/2013

Other – OpenVMS SCSEM (XLS)

1.2

9/26/2013

Other - RSI Revenue Premier

1.0

9/23/2013

Other - Teradata

1.0

9/23/2013

Other – Web Server SCSEM (XLS)

1.3

9/26/2013

UNIX and Linux – Solaris, HP-UX, AIX, Red Hat, SuSE SCSEM (XLS)

1.4

2/12/2013

Virtualization – VMWare ESX 4.x SCSEM (XLS)

1.2

2/12/2013

Virtualization – VMWare ESXi 5.x SCSEM (XLS)

1.1

3/7/2013

Microsoft Windows 7 SCSEM (XLS)

1.2

2/12/2013

Microsoft Windows Server 2003 SCSEM (XLS)

1.2

2/12/2013

Microsoft Windows Server 2008 and 2008 R2 SCSEM (XLS)

1.2

2/12/2013

Microsoft Windows Vista SCSEM (XLS)

1.2

2/12/2013

Microsoft Windows XP SCSEM (XLS)

1.2

2/12/2013

 

Page Last Reviewed or Updated: 25-Mar-2014

The Tax Software 2005 2006

Tax software 2005 2006 Publication 583 - Introductory Material Table of Contents Introduction Introduction Table 1. Tax software 2005 2006 What New Business Owners Need To Know About Federal Taxes   (Note: This table is intended to help you, as a new business owner, learn what you need to know about your federal tax responsibilities. Tax software 2005 2006 To use it, ask yourself each question in the left column, then see the related discussion in the right column. Tax software 2005 2006 ) What Must I Know? Where To Find the Answer Which form of business will I use? See Forms of Business. Tax software 2005 2006 Will I need an employer identification number (EIN)? See Identification Numbers. Tax software 2005 2006 Do I have to start my tax year in January, or may I start it in any other month? See Tax Year. Tax software 2005 2006 What method can I use to account for my income and expenses? See Accounting Method. Tax software 2005 2006 What kinds of federal taxes will I have to pay? How should I pay my taxes? See Business Taxes. Tax software 2005 2006 What must I do if I have employees? See Employment Taxes. Tax software 2005 2006 Which forms must I file? See Table 2 and Information Returns. Tax software 2005 2006 Are there penalties if I do not pay my taxes or file my returns? See Penalties. Tax software 2005 2006 What business expenses can I deduct on my federal income tax return? See Business Expenses. Tax software 2005 2006 What records must I keep? How long must I keep them? See Recordkeeping. Tax software 2005 2006 This publication provides basic federal tax information for people who are starting a business. Tax software 2005 2006 It also provides information on keeping records and illustrates a recordkeeping system. Tax software 2005 2006 Throughout this publication we refer to other IRS publications and forms where you will find more information. Tax software 2005 2006 In addition, you may want to contact other government agencies, such as the Small Business Administration (SBA). Tax software 2005 2006 See How To Get More Information later. Tax software 2005 2006 Comments and suggestions. Tax software 2005 2006   We welcome your comments about this publication and your suggestions for future editions. Tax software 2005 2006   You can write to us at the following address: Internal Revenue Service Business Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Tax software 2005 2006 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Tax software 2005 2006 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Tax software 2005 2006   You can email us at taxforms@irs. Tax software 2005 2006 gov. Tax software 2005 2006 Please put “Publications Comment” on the subject line. Tax software 2005 2006 You can also send us comments from www. Tax software 2005 2006 irs. Tax software 2005 2006 gov/formspubs, select “Comment on Tax Forms and Publications” under “Information about. Tax software 2005 2006 ”   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. Tax software 2005 2006 Ordering forms and publications. Tax software 2005 2006 Visit www. Tax software 2005 2006 irs. Tax software 2005 2006 gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received. Tax software 2005 2006 Internal Revenue Service 1201 N. Tax software 2005 2006 Mitsubishi Motorway Bloomington, IL 61705–6613 Tax questions. Tax software 2005 2006   If you have a tax question, check the information available on IRS. Tax software 2005 2006 gov or call 1-800-829-1040. Tax software 2005 2006 We cannot answer tax questions sent to either of the above addresses. Tax software 2005 2006 Future Developments. Tax software 2005 2006   The IRS has created a page on IRS. Tax software 2005 2006 gov for information about Publication 583 at www. Tax software 2005 2006 irs. Tax software 2005 2006 gov/pub583. Tax software 2005 2006 Information about any future developments affecting Publication 583 (such as legislation enacted after we release it) will be posted on that page. Tax software 2005 2006 Prev  Up  Next   Home   More Online Publications