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2010 Form 1040x

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2010 Form 1040x

2010 form 1040x 5. 2010 form 1040x   How To Get Tax Help Table of Contents Low Income Taxpayer Clinics Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. 2010 form 1040x Free help with your tax return. 2010 form 1040x   You can get free help preparing your return nationwide from IRS-certified volunteers. 2010 form 1040x The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 2010 form 1040x The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2010 form 1040x Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2010 form 1040x In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 2010 form 1040x To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 2010 form 1040x gov, download the IRS2Go app, or call 1-800-906-9887. 2010 form 1040x   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2010 form 1040x To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2010 form 1040x aarp. 2010 form 1040x org/money/taxaide or call 1-888-227-7669. 2010 form 1040x For more information on these programs, go to IRS. 2010 form 1040x gov and enter “VITA” in the search box. 2010 form 1040x Internet. 2010 form 1040x    IRS. 2010 form 1040x gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 2010 form 1040x Download the free IRS2Go app from the iTunes app store or from Google Play. 2010 form 1040x Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2010 form 1040x Check the status of your 2013 refund with the Where's My Refund? application on IRS. 2010 form 1040x gov or download the IRS2Go app and select the Refund Status option. 2010 form 1040x The IRS issues more than 9 out of 10 refunds in less than 21 days. 2010 form 1040x Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 2010 form 1040x You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2010 form 1040x The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2010 form 1040x Use the Interactive Tax Assistant (ITA) to research your tax questions. 2010 form 1040x No need to wait on the phone or stand in line. 2010 form 1040x The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. 2010 form 1040x When you reach the response screen, you can print the entire interview and the final response for your records. 2010 form 1040x New subject areas are added on a regular basis. 2010 form 1040x  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 2010 form 1040x gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 2010 form 1040x You can use the IRS Tax Map, to search publications and instructions by topic or keyword. 2010 form 1040x The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 2010 form 1040x When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 2010 form 1040x Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 2010 form 1040x You can also ask the IRS to mail a return or an account transcript to you. 2010 form 1040x Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 2010 form 1040x gov or by calling 1-800-908-9946. 2010 form 1040x Tax return and tax account transcripts are generally available for the current year and the past three years. 2010 form 1040x Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 2010 form 1040x Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 2010 form 1040x If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 2010 form 1040x Check the status of your amended return using Where's My Amended Return? Go to IRS. 2010 form 1040x gov and enter Where's My Amended Return? in the search box. 2010 form 1040x You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2010 form 1040x It can take up to 3 weeks from the date you mailed it to show up in our system. 2010 form 1040x Make a payment using one of several safe and convenient electronic payment options available on IRS. 2010 form 1040x gov. 2010 form 1040x Select the Payment tab on the front page of IRS. 2010 form 1040x gov for more information. 2010 form 1040x Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 2010 form 1040x Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2010 form 1040x gov. 2010 form 1040x Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2010 form 1040x Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2010 form 1040x gov. 2010 form 1040x Request an Electronic Filing PIN by going to IRS. 2010 form 1040x gov and entering Electronic Filing PIN in the search box. 2010 form 1040x Download forms, instructions and publications, including accessible versions for people with disabilities. 2010 form 1040x Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 2010 form 1040x gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 2010 form 1040x An employee can answer questions about your tax account or help you set up a payment plan. 2010 form 1040x Before you visit, check the Office Locator on IRS. 2010 form 1040x gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 2010 form 1040x If you have a special need, such as a disability, you can request an appointment. 2010 form 1040x Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2010 form 1040x Apply for an Employer Identification Number (EIN). 2010 form 1040x Go to IRS. 2010 form 1040x gov and enter Apply for an EIN in the search box. 2010 form 1040x Read the Internal Revenue Code, regulations, or other official guidance. 2010 form 1040x Read Internal Revenue Bulletins. 2010 form 1040x Sign up to receive local and national tax news and more by email. 2010 form 1040x Just click on “subscriptions” above the search box on IRS. 2010 form 1040x gov and choose from a variety of options. 2010 form 1040x Phone. 2010 form 1040x    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2010 form 1040x Download the free IRS2Go app from the iTunes app store or from Google Play. 2010 form 1040x Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 2010 form 1040x gov, or download the IRS2Go app. 2010 form 1040x Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2010 form 1040x The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2010 form 1040x Most VITA and TCE sites offer free electronic filing. 2010 form 1040x Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2010 form 1040x Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2010 form 1040x Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. 2010 form 1040x If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2010 form 1040x The IRS issues more than 9 out of 10 refunds in less than 21 days. 2010 form 1040x Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2010 form 1040x Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. 2010 form 1040x The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2010 form 1040x Note, the above information is for our automated hotline. 2010 form 1040x Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. 2010 form 1040x Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2010 form 1040x You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2010 form 1040x It can take up to 3 weeks from the date you mailed it to show up in our system. 2010 form 1040x Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). 2010 form 1040x You should receive your order within 10 business days. 2010 form 1040x Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 2010 form 1040x If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. 2010 form 1040x Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2010 form 1040x The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2010 form 1040x These individuals can also contact the IRS through relay services such as the Federal Relay Service. 2010 form 1040x Walk-in. 2010 form 1040x   You can find a selection of forms, publications and services — in-person. 2010 form 1040x Products. 2010 form 1040x You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2010 form 1040x Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2010 form 1040x Services. 2010 form 1040x You can walk in to your local TAC for face-to-face tax help. 2010 form 1040x An employee can answer questions about your tax account or help you set up a payment plan. 2010 form 1040x Before visiting, use the Office Locator tool on IRS. 2010 form 1040x gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 2010 form 1040x Mail. 2010 form 1040x   You can send your order for forms, instructions, and publications to the address below. 2010 form 1040x You should receive a response within 10 business days after your request is received. 2010 form 1040x Internal Revenue Service 1201 N. 2010 form 1040x Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. 2010 form 1040x The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2010 form 1040x Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2010 form 1040x   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 2010 form 1040x We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 2010 form 1040x You face (or your business is facing) an immediate threat of adverse action. 2010 form 1040x You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2010 form 1040x   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 2010 form 1040x Here's why we can help: TAS is an independent organization within the IRS. 2010 form 1040x Our advocates know how to work with the IRS. 2010 form 1040x Our services are free and tailored to meet your needs. 2010 form 1040x We have offices in every state, the District of Columbia, and Puerto Rico. 2010 form 1040x   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. 2010 form 1040x   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2010 form 1040x If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 2010 form 1040x Low Income Taxpayer Clinics Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. 2010 form 1040x Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. 2010 form 1040x Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. 2010 form 1040x Prev  Up  Next   Home   More Online Publications
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The IRS is working to provide appropriate relief and assistance to members of the tax exempt bond community affected by Hurricane Katrina. Please check back for updates.

CREB 2007 Disclosure of Allocations
CREB 2007 Disclosure of Allocations

The Service Announces the Release of New Forms for Build America Bonds
The Tax Exempt Bonds function (TEB) of the IRS Tax Exempt and Government Entities division has released new Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, and its instructions.

New York Liberty Zone Bonds
Guidance concerning the New York Liberty Zone business employee credit, Qualified New York Liberty Bonds, and Liberty Advance Refunding Bonds.

TIGTA Finds That Direct Pay Bond Questionnaires Were Appropriate
TIGTA Report: Build America Bond Compliance Check Program.

IRS Names Seven New Members to ACT Panel; ACT to Submit Recommendations at June Meeting
IR-2012-57, May 24, 2012 — The Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 6, when the panel will submit its latest round of recommendations.

New TEB Publication for Conduit Issuers of Tax-Exempt Bonds
Pub. 5005, inspired by TE/GE Advisory Committee, provides overview of conduit issuer responsibilities.

Page Last Reviewed or Updated: 31-Mar-2014

The 2010 Form 1040x

2010 form 1040x 4. 2010 form 1040x   Limit on Elective Deferrals Table of Contents Excess elective deferrals. 2010 form 1040x General Limit 15-Year RuleYears of Service Figuring the Limit on Elective DeferralsExample The second and final component of MAC is the limit on elective deferrals. 2010 form 1040x This is a limit on the amount of contributions that can be made to your account through a salary reduction agreement. 2010 form 1040x A salary reduction agreement is an agreement between you and your employer that allows for a portion of your compensation to be directly invested in a 403(b) account on your behalf. 2010 form 1040x You can enter into more than one salary reduction agreement during a year. 2010 form 1040x More than one 403(b) account. 2010 form 1040x If, for any year, elective deferrals are contributed to more than one 403(b) account for you (whether or not with the same employer), you must combine all the elective deferrals to determine whether the total is more than the limit for that year. 2010 form 1040x 403(b) plan and another retirement plan. 2010 form 1040x If, during the year, contributions in the form of elective deferrals are made to other retirement plans on your behalf, you must combine all of the elective deferrals to determine if they are more than your limit on elective deferrals. 2010 form 1040x The limit on elective deferrals applies to amounts contributed to: 401(k) plans, to the extent excluded from income, Roth contribution programs, Section 501(c)(18) plans, to the extent excluded from income, Savings incentive match plan for employees (SIMPLE plans), Simplified employee pension (SEP) plans, and All 403(b) plans. 2010 form 1040x Roth contribution program. 2010 form 1040x   Your 403(b) plan may allow you to designate all or a portion of your elective deferrals as Roth contributions. 2010 form 1040x Elective deferrals designated as Roth contributions must be maintained in a separate Roth account and are not excludable from your gross income. 2010 form 1040x   The maximum amount of contributions allowed under a Roth contribution program is your limit on elective deferrals, less your elective deferrals not designated as Roth contributions. 2010 form 1040x For more information on the Roth contribution program, see Publication 560, Retirement Plans for Small Business. 2010 form 1040x Excess elective deferrals. 2010 form 1040x   If the amount contributed is more than the allowable limit, you must include the excess that is not a Roth contribution in your gross income for the year contributed. 2010 form 1040x General Limit Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement is $17,500 for 2013 and 2014. 2010 form 1040x This limit applies without regard to community property laws. 2010 form 1040x 15-Year Rule If you have at least 15 years of service with an educational organization (such as a public or private school), hospital, home health service agency, health and welfare service agency, church, or convention or association of churches (or associated organization), the limit on elective deferrals to your 403(b) account is increased by the least of: $3,000, $15,000, reduced by the sum of: The additional pre-tax elective deferrals made in prior years because of this rule, plus The aggregate amount of designated Roth contributions permitted for prior years because of this rule, or $5,000 times the number of your years of service for the organization, minus the total elective deferrals made by your employer on your behalf for earlier years. 2010 form 1040x If you qualify for the 15-year rule, your elective deferrals under this limit can be as high as $20,500 for 2013 and 2014. 2010 form 1040x To determine whether you have 15 years of service with your employer, see Years of Service , next. 2010 form 1040x Years of Service To determine if you are eligible for the increased limit on elective deferrals, you will first need to figure your years of service. 2010 form 1040x How you figure your years of service depends on whether you were a full-time or a part-time employee, whether you worked for the full year or only part of the year, and whether you have worked for your employer for an entire year. 2010 form 1040x You must figure years of service for each year during which you worked for the employer who is maintaining your 403(b) account. 2010 form 1040x If more than one employer maintains a 403(b) account for you in the same year, you must figure years of service separately for each employer. 2010 form 1040x Definition Your years of service are the total number of years you have worked as a full time employee for the employer maintaining your 403(b) account as of the end of the year. 2010 form 1040x Figuring Your Years of Service Take the following rules into account when figuring your years of service. 2010 form 1040x Status of employer. 2010 form 1040x   Your years of service include only periods during which your employer was a qualified employer. 2010 form 1040x Your plan administrator can tell you whether or not your employer was qualified during all your periods of service. 2010 form 1040x Service with one employer. 2010 form 1040x   Generally, you cannot count service for any employer other than the one who maintains your 403(b) account. 2010 form 1040x Church employee. 2010 form 1040x   If you are a church employee, treat all of your years of service with related church organizations as years of service with the same employer. 2010 form 1040x For more information about church employees, see chapter 5. 2010 form 1040x Self-employed ministers. 2010 form 1040x   If you are a self-employed minister, your years of service include full and part years in which you have been treated as employed by a tax-exempt organization that is a qualified employer. 2010 form 1040x Total years of service. 2010 form 1040x   When figuring prior years of service, figure each year individually and then add the individual years of service to determine your total years of service. 2010 form 1040x Example. 2010 form 1040x The annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. 2010 form 1040x Marsha began working with ABC schools in September 2009. 2010 form 1040x She has always worked full-time for each annual work period. 2010 form 1040x At the end of 2013, Marsha had 4. 2010 form 1040x 5 years of service with ABC Public Schools, as shown in Table 4-1. 2010 form 1040x Table 4-1. 2010 form 1040x Marsha's Years of Service Note. 2010 form 1040x This table shows how Marsha figures her years of service, as explained in the previous example. 2010 form 1040x Year Period Worked Portion of Work Period Years of Service 2009 Sept. 2010 form 1040x –Dec. 2010 form 1040x . 2010 form 1040x 5 year . 2010 form 1040x 5 year 2010 Feb. 2010 form 1040x –May . 2010 form 1040x 5 year 1 year Sept. 2010 form 1040x –Dec. 2010 form 1040x . 2010 form 1040x 5 year 2011 Feb. 2010 form 1040x –May . 2010 form 1040x 5 year 1 year Sept. 2010 form 1040x –Dec. 2010 form 1040x . 2010 form 1040x 5 year 2012 Feb. 2010 form 1040x –May . 2010 form 1040x 5 year 1 year Sept. 2010 form 1040x –Dec. 2010 form 1040x . 2010 form 1040x 5 year 2013 Feb. 2010 form 1040x –May . 2010 form 1040x 5 year 1 year Sept. 2010 form 1040x –Dec. 2010 form 1040x . 2010 form 1040x 5 year Total years of service 4. 2010 form 1040x 5 years Full-time or part-time. 2010 form 1040x   To figure your years of service, you must analyze each year individually and determine whether you worked full-time for the full year or something other than full-time. 2010 form 1040x When determining whether you worked full-time or something other than full-time, use your employer's annual work period as the standard. 2010 form 1040x Employer's annual work period. 2010 form 1040x   Your employer's annual work period is the usual amount of time an individual working full-time in a specific position is required to work. 2010 form 1040x Generally, this period of time is expressed in days, weeks, months, or semesters, and can span 2 calendar years. 2010 form 1040x Note. 2010 form 1040x You cannot accumulate more than 1 year of service in a 12-month period. 2010 form 1040x Example. 2010 form 1040x All full-time teachers at ABC Public Schools are required to work both the September through December semester and the February through May semester. 2010 form 1040x Therefore, the annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. 2010 form 1040x Teachers at ABC Public Schools who work both semesters in the same calendar year are considered working a full year of service in that calendar year. 2010 form 1040x Full-Time Employee for the Full Year Count each full year during which you were employed full-time as 1 year of service. 2010 form 1040x In determining whether you were employed full-time, compare the amount of work you were required to perform with the amount of work normally required of others who held the same position with the same employer and who generally received most of their pay from the position. 2010 form 1040x How to compare. 2010 form 1040x   You can use any method that reasonably and accurately reflects the amount of work required. 2010 form 1040x For example, if you are a teacher, you can use the number of hours of classroom instruction as a measure of the amount of work required. 2010 form 1040x   In determining whether positions with the same employer are the same, consider all of the facts and circumstances concerning the positions, including the work performed, the methods by which pay is determined, and the descriptions (or titles) of the positions. 2010 form 1040x Example. 2010 form 1040x An assistant professor employed in the English department of a university will be considered a full-time employee if the amount of work that he or she is required to perform is the same as the amount of work normally required of assistant professors of English at that university who get most of their pay from that position. 2010 form 1040x   If no one else works for your employer in the same position, compare your work with the work normally required of others who held the same position with similar employers or similar positions with your employer. 2010 form 1040x Full year of service. 2010 form 1040x   A full year of service for a particular position means the usual annual work period of anyone employed full-time in that general type of work at that place of employment. 2010 form 1040x Example. 2010 form 1040x If a doctor works for a hospital 12 months of a year except for a 1-month vacation, the doctor will be considered as employed for a full year if the other doctors at that hospital also work 11 months of the year with a 1-month vacation. 2010 form 1040x Similarly, if the usual annual work period at a university consists of the fall and spring semesters, an instructor at that university who teaches these semesters will be considered as working a full year. 2010 form 1040x Other Than Full-Time for the Full Year If, during any year, you were employed full-time for only part of your employer's annual work period, part-time for the entire annual work period, or part-time for only part of the work period, your year of service for that year is a fraction of your employer's annual work period. 2010 form 1040x Full-time for part of the year. 2010 form 1040x   If, during a year, you were employed full-time for only part of your employer's annual work period, figure the fraction for that year as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. 2010 form 1040x The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. 2010 form 1040x Example. 2010 form 1040x Jason was employed as a full-time instructor by a local college for the 4 months of the 2013 spring semester (February 2013 through May 2013). 2010 form 1040x The annual work period for the college is 8 months (February through May and July through October). 2010 form 1040x Given these facts, Jason was employed full-time for part of the annual work period and provided ½ of a year of service. 2010 form 1040x Jason's years of service computation for 2013 is as follows: Number of months Jason worked = 4 = 1 Number of months in annual work period 8 2 Part-time for the full year. 2010 form 1040x   If, during a year, you were employed part-time for the employer's entire annual work period, you figure the fraction for that year as follows: The numerator (top number) is the number of hours or days you worked. 2010 form 1040x The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. 2010 form 1040x Example. 2010 form 1040x Vance teaches one course at a local medical school. 2010 form 1040x He teaches 3 hours per week for two semesters. 2010 form 1040x Other faculty members at the same school teach 9 hours per week for two semesters. 2010 form 1040x The annual work period of the medical school is two semesters. 2010 form 1040x An instructor teaching 9 hours a week for two semesters is considered a full-time employee. 2010 form 1040x Given these facts, Vance has worked part-time for a full annual work period. 2010 form 1040x Vance has completed 1/3 of a year of service, figured as shown below. 2010 form 1040x Number of hours per week Vance worked = 3 = 1 Number of hours per week considered full-time 9 3 Part-time for part of the year. 2010 form 1040x   If, during any year, you were employed part-time for only part of your employer's annual work period, you figure your fraction for that year by multiplying two fractions. 2010 form 1040x   Figure the first fraction as though you had worked full-time for part of the annual work period. 2010 form 1040x The fraction is as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. 2010 form 1040x The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. 2010 form 1040x   Figure the second fraction as though you had worked part-time for the entire annual work period. 2010 form 1040x The fraction is as follows: The numerator (top number) is the number of hours or days you worked. 2010 form 1040x The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. 2010 form 1040x   Once you have figured these two fractions, multiply them together to determine the fraction representing your partial year of service for the year. 2010 form 1040x Example. 2010 form 1040x Maria, an attorney, teaches a course for one semester at a law school. 2010 form 1040x She teaches 3 hours per week. 2010 form 1040x The annual work period for teachers at the school is two semesters. 2010 form 1040x All full-time instructors at the school are required to teach 12 hours per week. 2010 form 1040x Based on these facts, Maria is employed part-time for part of the annual work period. 2010 form 1040x Her year of service for this year is determined by multiplying two fractions. 2010 form 1040x Her computation is as follows: Maria's first fraction Number of semesters Maria worked = 1 Number of semesters in annual work period 2 Maria's second fraction Number of hours Maria worked per week = 3 = 1 Number of hours per week considered full-time 12 4 Maria would multiply these fractions to obtain the fractional year of service: 1 x 1 = 1         2 4 8         Figuring the Limit on Elective Deferrals You can use Part II of Worksheet 1 in chapter 9 to figure the limit on elective deferrals. 2010 form 1040x Example Floyd has figured his limit on annual additions. 2010 form 1040x The only other component needed before he can determine his MAC for 2014 is his limit on elective deferrals. 2010 form 1040x Figuring Floyd's limit on elective deferrals. 2010 form 1040x   Floyd has been employed with his current employer for less than 15 years. 2010 form 1040x He is not eligible for the special 15-year increase. 2010 form 1040x Therefore, his limit on elective deferrals for 2014 is $17,500 as shown in Table 4-2. 2010 form 1040x Floyd's employer will not make any nonelective contributions to his 403(b) account and Floyd will not make any after-tax contributions. 2010 form 1040x Additionally, Floyd's employer does not offer a Roth contribution program. 2010 form 1040x Figuring Floyd's MAC Floyd has determined that his limit on annual additions for 2014 is $52,000 and his limit on elective deferrals is $17,500. 2010 form 1040x Because elective deferrals are the only contributions made to Floyd's account, the maximum amount that can be contributed to a 403(b) account on Floyd's behalf in 2014 is $17,500, the lesser of both limits. 2010 form 1040x Table 4-2. 2010 form 1040x Worksheet 1. 2010 form 1040x Maximum Amount Contributable (MAC) Note. 2010 form 1040x Use this worksheet to figure your MAC. 2010 form 1040x Part I. 2010 form 1040x Limit on Annual Additions     1. 2010 form 1040x Enter your includible compensation for your most recent year of service 1. 2010 form 1040x $70,475 2. 2010 form 1040x Maximum: For 2013 enter $51,000 For 2014 enter $52,000 2. 2010 form 1040x 52,000 3. 2010 form 1040x Enter the lesser of line 1 or line 2. 2010 form 1040x This is your limit on annual additions 3. 2010 form 1040x 52,000   Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3 on line 18. 2010 form 1040x     Part II. 2010 form 1040x Limit on Elective Deferrals     4. 2010 form 1040x Maximum contribution: For 2013, enter $17,500 For 2014, enter $17,500 4. 2010 form 1040x 17,500   Note. 2010 form 1040x If you have at least 15 years of service with a qualifying organization, complete lines 5 through 17. 2010 form 1040x If not, enter zero (-0-) on line 16 and go to line 17. 2010 form 1040x     5. 2010 form 1040x Amount per year of service 5. 2010 form 1040x 5,000 6. 2010 form 1040x Enter your years of service 6. 2010 form 1040x   7. 2010 form 1040x Multiply line 5 by line 6 7. 2010 form 1040x   8. 2010 form 1040x Enter the total of all elective deferrals made for you by the qualifying organization for prior years 8. 2010 form 1040x   9. 2010 form 1040x Subtract line 8 from line 7. 2010 form 1040x If zero or less, enter zero (-0-) 9. 2010 form 1040x   10. 2010 form 1040x Maximum increase in limit for long service 10. 2010 form 1040x 15,000 11. 2010 form 1040x Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule 11. 2010 form 1040x   12. 2010 form 1040x Enter the aggregate amount of all designated Roth contributions permitted for prior years under the 15-year rule 12. 2010 form 1040x   13. 2010 form 1040x Add lines 11 and 12 13. 2010 form 1040x   14. 2010 form 1040x Subtract line 13 from line 10 14. 2010 form 1040x   15. 2010 form 1040x Maximum additional contributions 15. 2010 form 1040x 3,000 16. 2010 form 1040x Enter the least of lines 9, 14, or 15. 2010 form 1040x This is your increase in the limit for long service 16. 2010 form 1040x -0- 17. 2010 form 1040x Add lines 4 and 16. 2010 form 1040x This is your limit on elective deferrals 17. 2010 form 1040x 17,500   Part III. 2010 form 1040x Maximum Amount Contributable     18. 2010 form 1040x If you had only nonelective contributions, enter the amount from line 3. 2010 form 1040x This is your MAC. 2010 form 1040x    If you had only elective deferrals, enter the lesser of lines 3 or 17. 2010 form 1040x This is your MAC. 2010 form 1040x    If you had both elective deferrals and nonelective contributions, enter the amount from line 3. 2010 form 1040x This is your MAC. 2010 form 1040x (Use the amount on line 17 to determine if you have excess elective deferrals as explained in chapter 7. 2010 form 1040x ) 18. 2010 form 1040x $17,500 Prev  Up  Next   Home   More Online Publications