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1040x Instructions 2011

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1040x Instructions 2011

1040x instructions 2011 7. 1040x instructions 2011   Filing Information Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: What, When, and Where To FileResident Aliens Nonresident Aliens Amended Returns and Claims for Refund Other Forms You May Have To File PenaltiesCivil Penalties Criminal Penalties Introduction This chapter provides the basic filing information that you may need. 1040x instructions 2011 Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. 1040x instructions 2011 Useful Items - You may want to see: Forms (and Instructions) 1040 U. 1040x instructions 2011 S. 1040x instructions 2011 Individual Income Tax Return 1040A U. 1040x instructions 2011 S. 1040x instructions 2011 Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. 1040x instructions 2011 S. 1040x instructions 2011 Nonresident Alien Income Tax Return 1040NR-EZ U. 1040x instructions 2011 S. 1040x instructions 2011 Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. 1040x instructions 2011 What, When, and Where To File What return you must file as well as when and where you file that return, depends on your status at the end of the tax year as a resident or a nonresident alien. 1040x instructions 2011 Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. 1040x instructions 2011 The due date for filing the return and paying any tax due is April 15 of the year following the year for which you are filing a return (but see the Tip, later). 1040x instructions 2011 Under U. 1040x instructions 2011 S. 1040x instructions 2011 immigration law, a lawful permanent resident who is required to file a tax return as a resident and fails to do so may be regarded as having abandoned status and may lose permanent resident status. 1040x instructions 2011 Extensions of time to file. 1040x instructions 2011   You are allowed an automatic extension to June 15 to file if your main place of business and the home you live in are outside the United States and Puerto Rico on April 15. 1040x instructions 2011 You can get an extension of time to October 15 to file your return if you get an extension by April 15 (June 15 if you qualify for the June 15 extension). 1040x instructions 2011 Use Form 4868 to get the extension to October 15. 1040x instructions 2011 In addition to this 6-month extension, taxpayers who are out of the country (as defined in the Form 4868 instructions) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). 1040x instructions 2011 To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. 1040x instructions 2011 Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address:  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. 1040x instructions 2011   The discretionary 2-month additional extension is not available to taxpayers who have an approved extension of time to file on Form 2350 (for U. 1040x instructions 2011 S. 1040x instructions 2011 citizens and resident aliens abroad who expect to qualify for special tax treatment). 1040x instructions 2011    If the due date for filing falls on a Saturday, Sunday, or legal holiday, the due date is the next day which is not a Saturday, Sunday, or legal holiday. 1040x instructions 2011 You may be able to file your return electronically. 1040x instructions 2011 See IRS e-file in your form instructions. 1040x instructions 2011 Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. 1040x instructions 2011 If you are any of the following, you must file a return. 1040x instructions 2011 A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. 1040x instructions 2011 (But see Exceptions , later. 1040x instructions 2011 ) You must file even if: Your income did not come from a trade or business conducted in the United States, You have no income from U. 1040x instructions 2011 S. 1040x instructions 2011 sources, or Your income is exempt from income tax. 1040x instructions 2011 A nonresident alien individual not engaged in a trade or business in the United States with U. 1040x instructions 2011 S. 1040x instructions 2011 income on which the tax liability was not satisfied by the withholding of tax at the source. 1040x instructions 2011 A representative or agent responsible for filing the return of an individual described in (1) or (2). 1040x instructions 2011 A fiduciary for a nonresident alien estate or trust. 1040x instructions 2011 You must also file if you want to: Claim a refund of overwithheld or overpaid tax, or Claim the benefit of any deductions or credits. 1040x instructions 2011 For example, if you have no U. 1040x instructions 2011 S. 1040x instructions 2011 business activities but have income from real property that you choose to treat as effectively connected income (discussed in chapter 4), you must timely file a true and accurate return to take any allowable deductions against that income. 1040x instructions 2011 For information on what is timely, see When to file for deductions and credits under When To File, later. 1040x instructions 2011 Exceptions. 1040x instructions 2011   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. 1040x instructions 2011 Your only U. 1040x instructions 2011 S. 1040x instructions 2011 trade or business was the performance of personal services, and Your wages were less than $3,900, and You have no other need to file a return to claim a refund of overwithheld taxes, to satisfy additional withholding at source, or to claim income exempt or partly exempt by treaty. 1040x instructions 2011 You were a nonresident alien student, teacher, or trainee who was temporarily present in the United States under an “F,” “J,” “M,” or “Q” visa and you have no income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc. 1040x instructions 2011 Even if you have left the United States and filed a Form 1040-C, U. 1040x instructions 2011 S. 1040x instructions 2011 Departing Alien Income Tax Return, on departure, you still must file an annual U. 1040x instructions 2011 S. 1040x instructions 2011 income tax return. 1040x instructions 2011 If you are married and both you and your spouse are required to file, you must each file a separate return. 1040x instructions 2011 Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. 1040x instructions 2011 You do not claim any dependents. 1040x instructions 2011 You cannot be claimed as a dependent on someone else's U. 1040x instructions 2011 S. 1040x instructions 2011 tax return. 1040x instructions 2011 If you were married, you do not claim an exemption for your spouse. 1040x instructions 2011 Your taxable income is less than $100,000. 1040x instructions 2011 The only itemized deduction you can claim is for state and local income taxes. 1040x instructions 2011 Note. 1040x instructions 2011 Residents of India who were students or business apprentices may be able to take the standard deduction instead of the itemized deduction for state and local income taxes. 1040x instructions 2011 See chapter 5. 1040x instructions 2011 Your only U. 1040x instructions 2011 S. 1040x instructions 2011 source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. 1040x instructions 2011 (If you had taxable interest or dividend income, you cannot use this form. 1040x instructions 2011 ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. 1040x instructions 2011 You are not claiming any tax credits. 1040x instructions 2011 This is not an “expatriation return. 1040x instructions 2011 ” See Expatriation Tax in chapter 4. 1040x instructions 2011 The only taxes you owe are: The income tax from the Tax Table. 1040x instructions 2011 The social security and Medicare tax from Form 4137 or Form 8919. 1040x instructions 2011 You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. 1040x instructions 2011 You are not filing Form 8959, to figure the amount of Additional Medicare Tax you owe and/or the amount of Additional Medicare Tax withheld by your employer, if any. 1040x instructions 2011 If you do not meet all of the above conditions, you must file Form 1040NR. 1040x instructions 2011 When To File If you are an employee and you receive wages subject to U. 1040x instructions 2011 S. 1040x instructions 2011 income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. 1040x instructions 2011 For the 2013 calendar year, file your return by April 15, 2014. 1040x instructions 2011 If you are not an employee who receives wages subject to U. 1040x instructions 2011 S. 1040x instructions 2011 income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. 1040x instructions 2011 For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. 1040x instructions 2011 ) Extensions of time to file. 1040x instructions 2011   If you cannot file your return by the due date, file Form 4868 or use one of the electronic filing options explained in the Form 4868 instructions. 1040x instructions 2011 For the 2013 calendar year, this will extend the due date to October 15, 2014 (December 15, 2014, if the regular due date of your return is June 16, 2014). 1040x instructions 2011 You must file the extension by the regular due date of your return. 1040x instructions 2011   In addition to the 6-month extension to October 15, taxpayers whose main place of business is outside the United States and Puerto Rico and who live outside those jurisdictions can request a discretionary 2-month extension of time to file their returns (to December 15 for calendar year taxpayers). 1040x instructions 2011 To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. 1040x instructions 2011 Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address: Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. 1040x instructions 2011 When to file for deductions and credits. 1040x instructions 2011   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. 1040x instructions 2011 For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. 1040x instructions 2011 However, if you did not file a 2012 tax return and 2013 is not the first year for which you are required to file one, your 2013 return is timely for this purpose if it is filed by the earlier of: The date that is 16 months after the due date for filing your 2013 return, or The date the IRS notifies you that your 2013 return has not been filed and that you cannot claim certain deductions and credits. 1040x instructions 2011 The allowance of the following credits is not affected by this time requirement. 1040x instructions 2011 Credit for withheld taxes. 1040x instructions 2011 Credit for excise tax on certain uses of gasoline and special fuels. 1040x instructions 2011 Credit for tax paid by a mutual fund (or other regulated investment company) or a real estate investment trust on undistributed long-term capital gains. 1040x instructions 2011 Protective return. 1040x instructions 2011   If your activities in the United States were limited and you do not believe that you had any gross income effectively connected with a U. 1040x instructions 2011 S. 1040x instructions 2011 trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. 1040x instructions 2011 By filing a protective return, you protect your right to receive the benefit of deductions and credits in the event it is later determined that some or all of your income is effectively connected. 1040x instructions 2011 You are not required to report any effectively connected income or any deductions on the protective return, but you must give the reason the return is being filed. 1040x instructions 2011   If you believe some of your activities resulted in effectively connected income, file your return reporting that income and related deductions by the regular due date. 1040x instructions 2011 To protect your right to claim deductions or credits resulting from other activities, attach a statement to that return explaining that you wish to protect your right to claim deductions and credits if it is later determined that the other activities produced effectively connected income. 1040x instructions 2011   You can follow the same procedure if you believe you have no U. 1040x instructions 2011 S. 1040x instructions 2011 tax liability because of a U. 1040x instructions 2011 S. 1040x instructions 2011 tax treaty. 1040x instructions 2011 Be sure to also complete item L on page 5 of Form 1040NR. 1040x instructions 2011 Waiver of filing deadline. 1040x instructions 2011   The IRS may waive the filing deadline if you establish that, based on the facts and circumstances, you acted reasonably and in good faith in failing to file a U. 1040x instructions 2011 S. 1040x instructions 2011 income tax return (including a protective return) and you cooperate with the IRS in determining your U. 1040x instructions 2011 S. 1040x instructions 2011 income tax liability for the tax year for which you did not file a return. 1040x instructions 2011 Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. 1040x instructions 2011  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. 1040x instructions 2011 O. 1040x instructions 2011 Box 1303 Charlotte, NC 28201-1303 Aliens from the U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islands. 1040x instructions 2011    If you are a bona fide resident of the U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islands and file your income tax returns at the following address. 1040x instructions 2011 Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. 1040x instructions 2011 Thomas, VI 00802   Report all income from U. 1040x instructions 2011 S. 1040x instructions 2011 sources, as well as income from other sources, on your return. 1040x instructions 2011 For information on filing U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islands returns, contact the U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islands Bureau of Internal Revenue. 1040x instructions 2011   Chapter 8 discusses withholding from U. 1040x instructions 2011 S. 1040x instructions 2011 wages of U. 1040x instructions 2011 S. 1040x instructions 2011 Virgin Islanders. 1040x instructions 2011 Aliens from Guam or the Commonwealth of the Northern Mariana Islands. 1040x instructions 2011   If you are a bona fide resident of Guam or the Commonwealth of the Northern Mariana Islands (CNMI) during your entire tax year, you must file your return with, and pay any tax due to, Guam or the CNMI. 1040x instructions 2011 Report all income, including income from U. 1040x instructions 2011 S. 1040x instructions 2011 sources, on your return. 1040x instructions 2011 It is not necessary to file a separate U. 1040x instructions 2011 S. 1040x instructions 2011 income tax return. 1040x instructions 2011    Bona fide residents of Guam should file their Guam returns at the following address. 1040x instructions 2011   Department of Revenue and Taxation Government of Guam P. 1040x instructions 2011 O. 1040x instructions 2011 Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. 1040x instructions 2011   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. 1040x instructions 2011 O. 1040x instructions 2011 Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. 1040x instructions 2011 570, Tax Guide for Individuals With Income From U. 1040x instructions 2011 S. 1040x instructions 2011 Possessions, for information on where to file your return. 1040x instructions 2011 Amended Returns and Claims for Refund If you find changes in your income, deductions, or credits after you mail your return, file Form 1040X, Amended U. 1040x instructions 2011 S. 1040x instructions 2011 Individual Income Tax Return. 1040x instructions 2011 Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. 1040x instructions 2011 If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. 1040x instructions 2011 ) to Form 1040X. 1040x instructions 2011 Print “Amended” across the top. 1040x instructions 2011 Ordinarily, an amended return claiming a refund must be filed within 3 years from the date your return was filed or within 2 years from the time the tax was paid, whichever is later. 1040x instructions 2011 A return filed before the final due date is considered to have been filed on the due date. 1040x instructions 2011 Other Forms You May Have To File You may be required to file information returns to report certain foreign income or assets, or monetary transactions. 1040x instructions 2011 FinCen Form 105 FinCEN Form 105 (formerly Customs Form 4790), Report of International Transportation of Currency or Monetary Instruments, must be filed by each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped, currency or other monetary instruments in a total amount of more than $10,000 at one time from the United States to any place outside the United States, or into the United States from any place outside the United States. 1040x instructions 2011 The filing requirement also applies to each person who receives in the United States currency or monetary instruments totaling more than $10,000 at one time from any place outside of the United States. 1040x instructions 2011 The term “monetary instruments” means the following: Coin and currency of the United States or of any other country, Travelers' checks in any form, Investment securities or stock in bearer form or otherwise in such form that title to them passes upon delivery, Negotiable instruments (including checks, promissory notes, and money orders) in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title to them passes upon delivery, and Checks, promissory notes, and money orders which are signed but on which the name of the payee has been omitted. 1040x instructions 2011 However, the term does not include: Checks or money orders made payable to the order of a named person which have not been endorsed or which contain restrictive endorsements, Warehouse receipts, or Bills of lading. 1040x instructions 2011 A transfer of funds through normal banking procedures (wire transfer) that does not involve the physical transportation of currency or monetary instruments is not required to be reported on FinCEN Form 105. 1040x instructions 2011 Filing requirements. 1040x instructions 2011   FinCEN Form 105 filing requirements follow. 1040x instructions 2011 Recipients. 1040x instructions 2011   Each person who receives currency or other monetary instruments in the United States must file FinCEN Form 105 within 15 days after receipt, with the Customs officer in charge at any port of entry or departure, or by mail at the following address. 1040x instructions 2011 Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. 1040x instructions 2011   If the currency or other monetary instrument does not accompany the person entering or departing the United States, FinCEN Form 105 can be filed by mail at the above address on or before the date of entry, departure, mailing, or shipping. 1040x instructions 2011 Travelers. 1040x instructions 2011   Travelers must file FinCEN Form 105 with the Customs officer in charge at any Customs port of entry or departure, when entering or departing the United States. 1040x instructions 2011 Penalties. 1040x instructions 2011   Civil and criminal penalties are provided for failing to file a report, filing a report containing material omissions or misstatements, or filing a false or fraudulent report. 1040x instructions 2011 Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. 1040x instructions 2011 More information. 1040x instructions 2011   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. 1040x instructions 2011 Form 8938 You may have to file Form 8938, Statement of Specified Foreign Financial Assets, to report the ownership of specified foreign financial asset(s) if you are one of the following individuals. 1040x instructions 2011 A resident alien of the United States for any part of the tax year. 1040x instructions 2011 A resident alien of the United States who elects to be treated as a resident of a foreign country under the provisions of a U. 1040x instructions 2011 S. 1040x instructions 2011 income tax treaty. 1040x instructions 2011 See Effect of Tax Treaties in chapter 1. 1040x instructions 2011 A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. 1040x instructions 2011 See chapter 1 for information about this election. 1040x instructions 2011 A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. 1040x instructions 2011 See Publication 570, Tax Guide for Individuals With Income From U. 1040x instructions 2011 S. 1040x instructions 2011 Possessions, for a definition of bona fide resident. 1040x instructions 2011 You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). 1040x instructions 2011 The reporting threshold varies depending on whether you live in the United States, are married, or file a joint income tax return with your spouse. 1040x instructions 2011 Specified foreign financial assets include any financial account maintained by a foreign financial institution and, to the extent held for investment, any stock, securities, or any other interest in a foreign entity and any financial instrument or contract with an issuer or counterparty that is not a U. 1040x instructions 2011 S. 1040x instructions 2011 person. 1040x instructions 2011 You may have to pay penalties if you are required to file Form 8938 and fail to do so, or if you have an understatement of tax due to any transaction involving an undisclosed foreign financial asset. 1040x instructions 2011 More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. 1040x instructions 2011 Penalties The law provides penalties for failure to file returns or pay taxes as required. 1040x instructions 2011 Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. 1040x instructions 2011 You may also have to pay a penalty if you substantially understate your tax, file a frivolous tax submission, or fail to supply your taxpayer identification number. 1040x instructions 2011 If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. 1040x instructions 2011 Filing late. 1040x instructions 2011   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. 1040x instructions 2011 The penalty is based on the tax not paid by the due date (without regard to extensions). 1040x instructions 2011 The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. 1040x instructions 2011 Fraud. 1040x instructions 2011   If your failure to file is due to fraud, the penalty is 15% for each month or part of a month that your return is late, up to a maximum of 75%. 1040x instructions 2011 Return over 60 days late. 1040x instructions 2011   If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. 1040x instructions 2011 Exception. 1040x instructions 2011   You will not have to pay the penalty if you show that you failed to file on time because of reasonable cause and not because of willful neglect. 1040x instructions 2011 Paying tax late. 1040x instructions 2011   You will have to pay a failure-to-pay penalty of ½ of 1% (. 1040x instructions 2011 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. 1040x instructions 2011 This penalty does not apply during the automatic 6-month extension of time to file period, if you paid at least 90% of your actual tax liability on or before the due date of your return and pay the balance when you file the return. 1040x instructions 2011   The monthly rate of the failure-to-pay penalty is half the usual rate (. 1040x instructions 2011 25% instead of . 1040x instructions 2011 50%) if an installment agreement is in effect for that month. 1040x instructions 2011 You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. 1040x instructions 2011   If a notice of intent to levy is issued, the rate will increase to 1% at the start of the first month beginning at least 10 days after the day that the notice is issued. 1040x instructions 2011 If a notice and demand for immediate payment is issued, the rate will increase to 1% at the start of the first month beginning after the day that the notice and demand is issued. 1040x instructions 2011   This penalty cannot be more than 25% of your unpaid tax. 1040x instructions 2011 You will not have to pay the penalty if you can show that you had a good reason for not paying your tax on time. 1040x instructions 2011 Combined penalties. 1040x instructions 2011   If both the failure-to-file penalty and the failure-to-pay penalty (discussed earlier) apply in any month, the 5% (or 15%) failure-to-file penalty is reduced by the failure-to-pay penalty. 1040x instructions 2011 However, if you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. 1040x instructions 2011 Accuracy-related penalty. 1040x instructions 2011   You may have to pay an accuracy-related penalty if you underpay your tax because: You show negligence or disregard of rules or regulations, You substantially understate your income tax, You claim tax benefits for a transaction that lacks economic substance, or You fail to disclose a foreign financial asset. 1040x instructions 2011 The penalty is equal to 20% of the underpayment. 1040x instructions 2011 The penalty is 40% of any portion of the underpayment that is attributable to an undisclosed noneconomic substance transaction or an undisclosed foreign financial asset transaction. 1040x instructions 2011 The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. 1040x instructions 2011 Negligence or disregard. 1040x instructions 2011   The term “negligence” includes a failure to make a reasonable attempt to comply with the tax law or to exercise ordinary and reasonable care in preparing a return. 1040x instructions 2011 Negligence also includes failure to keep adequate books and records. 1040x instructions 2011 You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. 1040x instructions 2011   The term “disregard” includes any careless, reckless, or intentional disregard. 1040x instructions 2011 Adequate disclosure. 1040x instructions 2011   You can avoid the penalty for disregard of rules or regulations if you adequately disclose on your return a position that has at least a reasonable basis. 1040x instructions 2011 See Disclosure statement , later. 1040x instructions 2011   This exception will not apply to an item that is attributable to a tax shelter. 1040x instructions 2011 In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. 1040x instructions 2011 Substantial understatement of income tax. 1040x instructions 2011   You understate your tax if the tax shown on your return is less than the correct tax. 1040x instructions 2011 The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. 1040x instructions 2011 However, the amount of the understatement is reduced to the extent the understatement is due to: Substantial authority, or Adequate disclosure and a reasonable basis. 1040x instructions 2011   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. 1040x instructions 2011 However, there is a reduction for a position with substantial authority, but only if you reasonably believed that your tax treatment was more likely than not the proper treatment. 1040x instructions 2011 Substantial authority. 1040x instructions 2011   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. 1040x instructions 2011 Consideration will be given to court opinions, Treasury regulations, revenue rulings, revenue procedures, and notices and announcements issued by the IRS and published in the Internal Revenue Bulletin that involve the same or similar circumstances as yours. 1040x instructions 2011 Disclosure statement. 1040x instructions 2011   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. 1040x instructions 2011 You must also have a reasonable basis for treating the item the way you did. 1040x instructions 2011   In cases of substantial understatement only, items that meet the requirements of Revenue Procedure 2012-51, 2012-51 IRB 719 (or later update) are considered adequately disclosed on your return without filing Form 8275. 1040x instructions 2011   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. 1040x instructions 2011 Transaction lacking economic substance. 1040x instructions 2011   For more information on economic substance, see section 7701(o). 1040x instructions 2011 Foreign financial asset. 1040x instructions 2011   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. 1040x instructions 2011 Reasonable cause. 1040x instructions 2011   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. 1040x instructions 2011 You must also show that you acted in good faith. 1040x instructions 2011 This does not apply to a transaction that lacks economic substance. 1040x instructions 2011 Filing erroneous claim for refund or credit. 1040x instructions 2011   You may have to pay a penalty if you file an erroneous claim for refund or credit. 1040x instructions 2011 The penalty is equal to 20% of the disallowed amount of the claim, unless you can show a reasonable basis for the way you treated an item. 1040x instructions 2011 However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. 1040x instructions 2011 The penalty will not be figured on any part of the disallowed amount of the claim that relates to the earned income credit or on which the accuracy-related or fraud penalties are charged. 1040x instructions 2011 Frivolous tax submission. 1040x instructions 2011   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. 1040x instructions 2011 A frivolous tax return is one that does not include enough information to figure the correct tax or that contains information clearly showing that the tax you reported is substantially incorrect. 1040x instructions 2011 For more information on frivolous returns, frivolous submissions, and a list of positions that are identified as frivolous, see Notice 2010-33, 2010-17 IRB 609 available at www. 1040x instructions 2011 irs. 1040x instructions 2011 gov/irb/2010-17_irb/ar13. 1040x instructions 2011 html. 1040x instructions 2011   You will have to pay the penalty if you filed this kind of return or submission based on a frivolous position or a desire to delay or interfere with the administration of federal tax laws. 1040x instructions 2011 This includes altering or striking out the preprinted language above the space provided for your signature. 1040x instructions 2011   This penalty is added to any other penalty provided by law. 1040x instructions 2011 Fraud. 1040x instructions 2011   If there is any underpayment of tax on your return due to fraud, a penalty of 75% of the underpayment due to fraud will be added to your tax. 1040x instructions 2011 Failure to supply taxpayer identification number. 1040x instructions 2011   If you do not include your social security number (SSN) or individual taxpayer identification number (ITIN) or the SSN or ITIN of another person where required on a return, statement, or other document, you will be subject to a penalty of $50 for each failure. 1040x instructions 2011 You will also be subject to a penalty of $50 if you do not give your SSN or ITIN to another person when it is required on a return, statement, or other document. 1040x instructions 2011   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. 1040x instructions 2011 The number must be shown on the Form 1099-INT or other statement the bank sends you. 1040x instructions 2011 If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. 1040x instructions 2011 (You also may be subject to “backup” withholding of income tax. 1040x instructions 2011 )   You will not have to pay the penalty if you are able to show that the failure was due to reasonable cause and not willful neglect. 1040x instructions 2011 Criminal Penalties You may be subject to criminal prosecution (brought to trial) for actions such as: Tax evasion, Willful failure to file a return, supply information, or pay any tax due, Fraud and false statements, or Preparing and filing a fraudulent return. 1040x instructions 2011 Prev  Up  Next   Home   More Online Publications
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Food Safety and Labels

To help you make healthy food choices, the federal government posts dietary guidelines. Federal regulations also require many foods to identify fat content, fiber and nutrients on their labels.

Food safety in the home revolves around three main functions: food storage, food handling, and cooking. Most experts agree that practicing a few simple rules focused on cleaning, separating, and cooking can prevent most food-borne illness in the home. The storage and cooking temperatures of food are also important factors in keeping your food safe. Food needs to be kept at 40 degrees Fahrenheit to keep bacteria from growing. In addition, meats should be cooked to a safe temperature - 165 degrees Fahrenheit for poultry and 160 degrees Fahrenheit for beef. The website foodsafety.gov. is your gateway to government food safety information including publications you can download or request. You can also visit recalls.gov for the latest food safety alerts and recalls.

For more information, here are some additional resources:

Organic Food

Buying organic food is a way to eat in a healthy manner and protect the environment. These foods are grown and processed according to USDA regulations and follow specific rules concerning pest control, raising animals, and the use of additives. Keep in mind that organic and natural foods tend to be more expensive than conventionally grown foods, and that the USDA does not claim that organic food is safer or more nutritious than other foods.
To make sure a product is certified organic, look for the USDA organic seal. You can also tell whether produce was grown organically by checking the price look up code (PLU); if the first number starts with a 4, then the food was grown conventionally, if it starts with a 9, it was grown organically.
Other common labels that help you choose certain types of organic food products include:

  • Free-Range or Cage-Free. The flock was provided shelter in a building, room, or area with unlimited access to food, fresh water, and the outdoors during its production cycle.
  • Natural. As required by USDA, meat, poultry, and egg products labeled as “natural” must be minimally processed and contain no artificial ingredients.
  • Grass-Fed. Grass-fed animals receive a majority of their nutrients from grass throughout their life, while organic animals’ pasture diet may be supplemented with grain.

Contact the Agricultural Marketing Service for more information about organic foods.

The 1040x Instructions 2011

1040x instructions 2011 Publication 334 - Introductory Material Table of Contents IntroductionOrdering forms and publications. 1040x instructions 2011 Tax questions. 1040x instructions 2011 Future Developments What's New for 2013 What's New for 2014 Reminders Photographs of Missing Children Introduction The purpose of this publication is to provide general information about the federal tax laws that apply to small business owners who are sole proprietors and to statutory employees. 1040x instructions 2011 This publication has information on business income, expenses, and tax credits that may help you file your income tax return. 1040x instructions 2011 Are you self-employed?   You are self-employed if you carry on a trade or business as a sole proprietor or an independent contractor. 1040x instructions 2011 Sole proprietor. 1040x instructions 2011   A sole proprietor is someone who owns an unincorporated business by himself or herself. 1040x instructions 2011 However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation. 1040x instructions 2011 Trade or business. 1040x instructions 2011    A trade or business is generally an activity carried on to make a profit. 1040x instructions 2011 The facts and circumstances of each case determine whether or not an activity is a trade or business. 1040x instructions 2011 You do not need to actually make a profit to be in a trade or business as long as you have a profit motive. 1040x instructions 2011 You do need to make ongoing efforts to further the interests of your business. 1040x instructions 2011   You do not have to carry on regular full-time business activities to be self-employed. 1040x instructions 2011 Having a part-time business in addition to your regular job or business may be self-employment. 1040x instructions 2011 Independent contractor. 1040x instructions 2011    People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. 1040x instructions 2011 However, whether they are independent contractors or employees depends on the facts in each case. 1040x instructions 2011 The general rule is that an individual is an independent contractor if the payer has the right to control or to direct only the result of the work and not how it will be done. 1040x instructions 2011 The earnings of a person who is working as an independent contractor are subject to self-employment tax. 1040x instructions 2011 For more information on determining whether you are an employee or independent contractor, see Publication 15-A, Employer's Supplemental Tax Guide. 1040x instructions 2011 Statutory employee. 1040x instructions 2011   A statutory employee has a checkmark in box 13 of his or her Form W-2, Wage and Tax Statement. 1040x instructions 2011 Statutory employees use Schedule C or C-EZ to report their wages and expenses. 1040x instructions 2011 Limited liability company (LLC). 1040x instructions 2011   A limited liability company (LLC) is an entity formed under state law by filing articles of organization. 1040x instructions 2011 Generally, a single-member LLC is disregarded as an entity separate from its owner and reports its income and deductions on its owner's federal income tax return. 1040x instructions 2011 An owner who is an individual may use Schedule C or C-EZ. 1040x instructions 2011 Business owned and operated by spouses. 1040x instructions 2011   If you and your spouse jointly own and operate an unincorporated business and share in the profits and losses, you are partners in a partnership, whether or not you have a formal partnership agreement. 1040x instructions 2011 Do not use Schedule C or C-EZ. 1040x instructions 2011 Instead, file Form 1065, U. 1040x instructions 2011 S. 1040x instructions 2011 Return of Partnership Income. 1040x instructions 2011 For more information, see Publication 541, Partnerships. 1040x instructions 2011    Exception—Community income. 1040x instructions 2011 If you and your spouse wholly own an unincorporated business as community property under the community property laws of a state, foreign country, or U. 1040x instructions 2011 S. 1040x instructions 2011 possession, you can treat the business either as a sole proprietorship or a partnership. 1040x instructions 2011 The only states with community property laws are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. 1040x instructions 2011 A change in your reporting position will be treated as a conversion of the entity. 1040x instructions 2011    Exception—Qualified joint venture. 1040x instructions 2011 If you and your spouse each materially participate as the only members of a jointly owned and operated business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership for the tax year. 1040x instructions 2011 Making this election will allow you to avoid the complexity of Form 1065 but still give each spouse credit for social security earnings on which retirement benefits are based. 1040x instructions 2011 For an explanation of "material participation," see the Instructions for Schedule C, line G. 1040x instructions 2011   To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. 1040x instructions 2011 Each of you must file a separate Schedule C or C-EZ and a separate Schedule SE. 1040x instructions 2011 For more information, see Qualified Joint Ventures in the Instructions for Schedule SE. 1040x instructions 2011 This publication does not cover the topics listed in the following table. 1040x instructions 2011    IF you need information about: THEN you should see: Corporations Publication 542 Farming Publication 225 Fishermen (Capital Construction Fund)  Publication 595 Partnerships Publication 541 Passive activities Publication 925 Recordkeeping Publication 583 Rental Publication 527 S corporations Instructions for Form 1120S What you need to know. 1040x instructions 2011   Table A provides a list of questions you need to answer to help you meet your federal tax obligations. 1040x instructions 2011 After each question is the location in this publication where you will find the related discussion. 1040x instructions 2011 Table A. 1040x instructions 2011 What You Need To Know About Federal Taxes (Note. 1040x instructions 2011 The following is a list of questions you may need to answer so you can fill out your federal income tax return. 1040x instructions 2011 Chapters are given to help you find the related discussion in this publication. 1040x instructions 2011 ) What must I know   Where to find the answer   What kinds of federal taxes do I have to pay? How do I pay them?   See chapter 1. 1040x instructions 2011 What forms must I file?   See chapter 1. 1040x instructions 2011 What must I do if I have employees?   See Employment Taxes in chapter 1. 1040x instructions 2011 Do I have to start my tax year in January, or can I start it in any other month?   See Accounting Periods in chapter 2. 1040x instructions 2011 What method can I use to account for my income and expenses?   See Accounting Methods in chapter 2. 1040x instructions 2011 What kinds of business income do I have to report on my tax return?   See chapter 5. 1040x instructions 2011 What kinds of business expenses can I deduct on my tax return?   See Business Expenses in chapter 8. 1040x instructions 2011 What kinds of expenses are not deductible as business expenses?   See Expenses You Cannot Deduct in chapter 8. 1040x instructions 2011 What happens if I have a business loss? Can I deduct it?   See chapter 9. 1040x instructions 2011 What must I do if I disposed of business property during the year?   See chapter 3. 1040x instructions 2011 What are my rights as a taxpayer?   See chapter 11. 1040x instructions 2011 Where do I go if I need help with federal tax matters?   See chapter 12. 1040x instructions 2011 IRS mission. 1040x instructions 2011   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. 1040x instructions 2011 Comments and suggestions. 1040x instructions 2011   We welcome your comments about this publication and your suggestions for future editions. 1040x instructions 2011   You can write to us at the following address:  Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 1040x instructions 2011 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 1040x instructions 2011 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040x instructions 2011   You can send your comments from www. 1040x instructions 2011 irs. 1040x instructions 2011 gov/formspubs/. 1040x instructions 2011 Click on “More Information” then on “Comment on Tax Forms and Publications. 1040x instructions 2011 ”   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. 1040x instructions 2011 Ordering forms and publications. 1040x instructions 2011   Visit  www. 1040x instructions 2011 irs. 1040x instructions 2011 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. 1040x instructions 2011  Internal Revenue Service 1201 N. 1040x instructions 2011 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 1040x instructions 2011   If you have a tax question, check the information available on IRS. 1040x instructions 2011 gov or call 1-800-829-1040. 1040x instructions 2011 We cannot answer tax questions sent to either of the above addresses. 1040x instructions 2011 Future Developments For the latest information about developments related to Publication 334, such as legislation enacted after it was published, go to www. 1040x instructions 2011 irs. 1040x instructions 2011 gov/pub334. 1040x instructions 2011 What's New for 2013 The following are some of the tax changes for 2013. 1040x instructions 2011 For information on other changes, go to IRS. 1040x instructions 2011 gov. 1040x instructions 2011 Tax rates. 1040x instructions 2011 . 1040x instructions 2011  For tax years beginning in 2013, the social security part of the self-employment tax increases to 12. 1040x instructions 2011 4%. 1040x instructions 2011 The Medicare part of the tax remains at 2. 1040x instructions 2011 9%. 1040x instructions 2011 As a result, the self-employment tax is 15. 1040x instructions 2011 3%. 1040x instructions 2011 Maximum net earnings. 1040x instructions 2011  The maximum net self-employment earnings subject to the social security part of the self-employment tax increases to $113,700 for 2013. 1040x instructions 2011 There is no maximum limit on earnings subject to the Medicare part. 1040x instructions 2011 Standard mileage rate. 1040x instructions 2011  For 2013, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck for each mile of business use is 56. 1040x instructions 2011 5 cents per mile. 1040x instructions 2011 For more information, see Car and Truck Expenses in chapter 8. 1040x instructions 2011 Simplified method for business use of home deduction. 1040x instructions 2011 . 1040x instructions 2011  The IRS now provides a simplified method to determine your expenses for business use of your home. 1040x instructions 2011 For more information, see Business Use of Your Home in chapter 8. 1040x instructions 2011 What's New for 2014 The following are some of the tax changes for 2014. 1040x instructions 2011 For information on other changes, go to IRS. 1040x instructions 2011 gov. 1040x instructions 2011 Standard mileage rate. 1040x instructions 2011  For 2014, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck for each mile of business use is 56 cents per mile. 1040x instructions 2011 Self-employment tax. 1040x instructions 2011  The maximum net self-employment earnings subject to the social security part of the self-employment tax is $117,000 for 2014. 1040x instructions 2011 Reminders Accounting methods. 1040x instructions 2011  Certain small business taxpayers may be eligible to adopt or change to the cash method of accounting and may not be required to account for inventories. 1040x instructions 2011 For more information, see Inventories in chapter 2. 1040x instructions 2011 Reportable transactions. 1040x instructions 2011  You must file Form 8886, Reportable Transaction Disclosure Statement, to report certain transactions. 1040x instructions 2011 You may have to pay a penalty if you are required to file Form 8886 but do not do so. 1040x instructions 2011 You may also have to pay interest and penalties on any reportable transaction understatements. 1040x instructions 2011 Reportable transactions include: Transactions the same as or substantially similar to tax avoidance transactions identified by the IRS, Transactions offered to you under conditions of confidentiality for which you paid an advisor a minimum fee, Transactions for which you have, or a related party has, contractual protection against disallowance of the tax benefits, Transactions that result in losses of at least $2 million in any single tax year ($50,000 if from certain foreign currency transactions) or $4 million in any combination of tax years, and Transactions the same or substantially similar to one of the types of transactions the IRS has identified as a transaction of interest. 1040x instructions 2011 For more information, see the Instructions for Form 8886. 1040x instructions 2011 Photographs of Missing Children The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 1040x instructions 2011 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 1040x instructions 2011 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. 1040x instructions 2011 Prev  Up  Next   Home   More Online Publications