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2012 1040 Ez Tax Form

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2012 1040 Ez Tax Form

2012 1040 ez tax form Depreciation Table of Contents Introduction Special Depreciation AllowanceQualified Property Election Not To Claim the Allowance Rules for Returns Filed Before June 1, 2002 Passenger Automobiles New York Liberty Zone BenefitsSpecial Liberty Zone Depreciation Allowance Increased Section 179 Deduction Liberty Zone Leasehold Improvement Property If you depreciate business property that you acquired and placed in service after September 10, 2001, new law contains provisions that may affect your depreciation deduction for that property. 2012 1040 ez tax form Publication 946, How To Depreciate Property, contains information on depreciation. 2012 1040 ez tax form However, Publication 946 does not contain the new provisions because it was printed before the law was enacted. 2012 1040 ez tax form The new provisions are in the Supplement to Publication 946, which is reprinted below. 2012 1040 ez tax form Supplement to Publication 946 How To Depreciate Property   Introduction After Publication 946 was printed, the Job Creation and Worker Assistance Act of 2002 was signed into law by the President. 2012 1040 ez tax form The new law made several changes in the tax rules explained in the publication. 2012 1040 ez tax form Some of the changes apply to property placed in service during 2001. 2012 1040 ez tax form This supplemental publication describes those changes and explains what you should do if you are affected by them. 2012 1040 ez tax form The situations and examples in Publication 946 do not reflect any of the changes made by the Job Creation and Worker Assistance Act of 2002. 2012 1040 ez tax form The new law contains the following provisions. 2012 1040 ez tax form 30% depreciation deductions (special depreciation allowance and special New York Liberty Zone (Liberty Zone) depreciation allowance) for the year qualified property is placed in service after September 10, 2001. 2012 1040 ez tax form An increased dollar limit on the section 179 deduction for qualified Liberty Zone property purchased after September 10, 2001. 2012 1040 ez tax form A shorter recovery period for qualified Liberty Zone leasehold improvement property placed in service after September 10, 2001. 2012 1040 ez tax form An increase in the maximum depreciation deduction for 2001 for a qualified passenger automobile placed in service after September 10, 2001. 2012 1040 ez tax form If you believe you qualify for an increased deduction under any of these new rules, you must file the revised 2001 Form 4562 (dated March 2002) for 2001 calendar or fiscal years and 2000 fiscal years ending after September 10, 2001. 2012 1040 ez tax form If you have already filed a tax return, this supplemental publication explains how to claim these benefits and how to elect not to claim the special depreciation allowance or special Liberty Zone depreciation allowance. 2012 1040 ez tax form See Table 2 at the end of the supplement for an overview of the rules that apply if you filed your return before June 1, 2002. 2012 1040 ez tax form Special Depreciation Allowance You can take a special depreciation allowance for qualified property you place in service after September 10, 2001. 2012 1040 ez tax form The allowance is an additional deduction of 30% of the property's depreciable basis. 2012 1040 ez tax form To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. 2012 1040 ez tax form See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. 2012 1040 ez tax form The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. 2012 1040 ez tax form There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. 2012 1040 ez tax form In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. 2012 1040 ez tax form Example 1. 2012 1040 ez tax form On November 1, 2001, you bought and placed in service in your business qualified property that cost $100,000. 2012 1040 ez tax form You did not elect to claim a section 179 deduction. 2012 1040 ez tax form You can deduct 30% of the cost ($30,000) as a special depreciation allowance for 2001. 2012 1040 ez tax form You use the remaining $70,000 of cost to figure your regular depreciation deduction for 2001 and later years. 2012 1040 ez tax form Example 2. 2012 1040 ez tax form The facts are the same as in Example 1, except that you choose to deduct $24,000 of the property's cost as a section 179 deduction. 2012 1040 ez tax form You use the remaining $76,000 of cost to figure your special depreciation allowance of $22,800 ($76,000 × 30%). 2012 1040 ez tax form You use the remaining $53,200 of cost to figure your regular depreciation deduction for 2001 and later years. 2012 1040 ez tax form Qualified Property To qualify for the special depreciation allowance, your property must meet the following requirements. 2012 1040 ez tax form It is new property of one of the following types. 2012 1040 ez tax form Property depreciated under the modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less. 2012 1040 ez tax form See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. 2012 1040 ez tax form Water utility property. 2012 1040 ez tax form See 25-year property on page 22 in Publication 946. 2012 1040 ez tax form Computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. 2012 1040 ez tax form (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. 2012 1040 ez tax form ) Qualified leasehold improvement property (defined later). 2012 1040 ez tax form It meets the following tests (explained later under Tests To Be Met). 2012 1040 ez tax form Acquisition date test. 2012 1040 ez tax form Placed in service date test. 2012 1040 ez tax form Original use test. 2012 1040 ez tax form It is not excepted property (explained later under Excepted Property). 2012 1040 ez tax form Qualified leasehold improvement property. 2012 1040 ez tax form    Generally, this is any improvement to an interior part of a building that is nonresidential real property, provided all of the following requirements are met. 2012 1040 ez tax form The improvement is made under or pursuant to a lease by the lessee (or any sublessee) or the lessor of that part of the building. 2012 1040 ez tax form That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. 2012 1040 ez tax form The improvement is placed in service more than 3 years after the date the building was first placed in service. 2012 1040 ez tax form   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. 2012 1040 ez tax form The enlargement of the building. 2012 1040 ez tax form Any elevator or escalator. 2012 1040 ez tax form Any structural component benefiting a common area. 2012 1040 ez tax form The internal structural framework of the building. 2012 1040 ez tax form   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. 2012 1040 ez tax form However, a binding commitment between related persons is not treated as a lease. 2012 1040 ez tax form Related persons. 2012 1040 ez tax form   For this purpose, the following are related persons. 2012 1040 ez tax form Members of an affiliated group. 2012 1040 ez tax form The persons listed in items (1) through (9) under Related persons on page 8 of Publication 946 (except that “80% or more” should be substituted for “more than 10%” each place it appears). 2012 1040 ez tax form An executor and a beneficiary of the same estate. 2012 1040 ez tax form Tests To Be Met To qualify for the special depreciation allowance, the property must meet all of the following tests. 2012 1040 ez tax form Acquisition date test. 2012 1040 ez tax form    Generally, you must have acquired the property either: After September 10, 2001, and before September 11, 2004, but only if no written binding contract for the acquisition was in effect before September 11, 2001, or Pursuant to a written binding contract entered into after September 10, 2001, and before September 11, 2004. 2012 1040 ez tax form   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001, and before September 11, 2004. 2012 1040 ez tax form Placed in service date test. 2012 1040 ez tax form   Generally, the property must be placed in service for use in your trade or business or for the production of income after September 10, 2001, and before January 1, 2005. 2012 1040 ez tax form   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. 2012 1040 ez tax form Original use test. 2012 1040 ez tax form   The original use of the property must have begun with you after September 10, 2001. 2012 1040 ez tax form “Original use” means the first use to which the property is put, whether or not by you. 2012 1040 ez tax form Additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test. 2012 1040 ez tax form Excepted Property The following property does not qualify for the special depreciation allowance. 2012 1040 ez tax form Property used by any person before September 11, 2001. 2012 1040 ez tax form Property required to be depreciated using ADS. 2012 1040 ez tax form This includes listed property used 50% or less in a qualified business use. 2012 1040 ez tax form Qualified New York Liberty Zone leasehold improvement property (defined next). 2012 1040 ez tax form Qualified New York Liberty Zone leasehold improvement property. 2012 1040 ez tax form   This is any qualified leasehold improvement property (as defined earlier) if all of the following requirements are met. 2012 1040 ez tax form The improvement is to a building located in the New York Liberty Zone (defined later under New York Liberty Zone Benefits). 2012 1040 ez tax form The improvement is placed in service after September 10, 2001, and before January 1, 2007. 2012 1040 ez tax form No written binding contract for the improvement was in effect before September 11, 2001. 2012 1040 ez tax form Election Not To Claim the Allowance You can elect not to claim the special depreciation allowance for qualified property. 2012 1040 ez tax form If you make this election for any property, it applies to all property in the same property class placed in service during the year. 2012 1040 ez tax form To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. 2012 1040 ez tax form When to make election. 2012 1040 ez tax form   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. 2012 1040 ez tax form   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). 2012 1040 ez tax form Attach the election statement to the amended return. 2012 1040 ez tax form At the top of the election statement, write “Filed pursuant to section 301. 2012 1040 ez tax form 9100–2. 2012 1040 ez tax form ” Revoking an election. 2012 1040 ez tax form   Once you elect not to deduct the special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. 2012 1040 ez tax form A request to revoke the election is subject to a user fee. 2012 1040 ez tax form Rules for Returns Filed Before June 1, 2002 The following rules apply if you placed qualified property in service after September 10, 2001, and filed your return before June 1, 2002. 2012 1040 ez tax form The rules apply to returns for the following years. 2012 1040 ez tax form 2000 fiscal years that end after September 10, 2001. 2012 1040 ez tax form 2001 calendar and fiscal years. 2012 1040 ez tax form Claiming the allowance. 2012 1040 ez tax form   If you did not claim the allowance on your return and did not make the election not to claim the allowance, you can do either of the following to claim the allowance. 2012 1040 ez tax form File an amended return by the due date (not including extensions) of your return for the year following the year the property was placed in service. 2012 1040 ez tax form Write “Filed Pursuant to Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33” at the top of the amended return. 2012 1040 ez tax form File Form 3115, Application for Change in Accounting Method, with your return for the year following the year the property was placed in service. 2012 1040 ez tax form Your return must be filed by the due date (including extensions). 2012 1040 ez tax form Write “Automatic Change Filed Under Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33” on the appropriate line of Form 3115. 2012 1040 ez tax form You must also file a copy (with signature) of the completed Form 3115 with the IRS National Office no later than when you file the original with your return. 2012 1040 ez tax form For more information about filing Form 3115, including the address to send it to, see Revenue Procedure 2002–9, Revenue Procedure 2002–19, and Revenue Procedure 2002–33. 2012 1040 ez tax form Example 1. 2012 1040 ez tax form You are an individual and you use the calendar year. 2012 1040 ez tax form You placed qualified property in service for your business in December 2001. 2012 1040 ez tax form You filed your 2001 income tax return before April 15, 2002. 2012 1040 ez tax form You did not claim the special depreciation allowance for the property and did not make the election not to claim the allowance. 2012 1040 ez tax form You can claim the special allowance by filing an amended 2001 return by April 15, 2003, with “Filed Pursuant to Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33” at the top of the amended return. 2012 1040 ez tax form You must file an amended return by April 15, 2003, even if you get an extension of time to file your 2002 tax return. 2012 1040 ez tax form Example 2. 2012 1040 ez tax form The facts concerning your 2001 return are the same as in Example 1. 2012 1040 ez tax form In addition, you got an automatic 4-month extension of time (to August 15, 2003) to file your 2002 return. 2012 1040 ez tax form You can claim the special allowance by filing a Form 3115 (with “Filed Pursuant to Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33” on the appropriate line) with your 2002 return by August 15, 2003. 2012 1040 ez tax form You must also file a copy of this Form 3115 with the IRS National Office no later than when you file your 2002 return. 2012 1040 ez tax form Electing not to claim the allowance. 2012 1040 ez tax form   Generally, you have elected not to claim the special depreciation allowance for a class of property if you: Filed your return timely (including extensions) for the year you placed qualified property in service and indicated on a statement with the return that you are not claiming the allowance, or Filed your return timely and filed an amended return within 6 months of the due date of the original return (not including extensions) and indicated on a statement with the amended return that you are not claiming the allowance. 2012 1040 ez tax form The statement must indicate that you are not deducting the special depreciation allowance and the class of property to which the election applies. 2012 1040 ez tax form The statement can be either attached to or written on the return. 2012 1040 ez tax form You can, for example, write “not deducting 30%” on Form 4562. 2012 1040 ez tax form Deemed election. 2012 1040 ez tax form   If you have not followed either of the procedures described above to elect not to claim the allowance, you may still be treated as making the election. 2012 1040 ez tax form You will be treated as making the election if you meet both of the following conditions. 2012 1040 ez tax form You filed your return for the year you placed the property in service and claimed depreciation, but not the special allowance, for any class of property. 2012 1040 ez tax form You do not file an amended return or a Form 3115 within the time prescribed for claiming the special allowance. 2012 1040 ez tax form See Claiming the allowance, earlier. 2012 1040 ez tax form Passenger Automobiles The limit on your depreciation deduction (including any section 179 deduction) for any passenger automobile that is qualified property (defined earlier) placed in service after September 10, 2001, and for which you claim the special depreciation allowance is increased. 2012 1040 ez tax form Generally, the limit is increased from $3,060 to $7,660. 2012 1040 ez tax form However, if the automobile is a qualified electric car, the limit is increased from $9,280 to $23,080 ($22,980 if placed in service in 2002). 2012 1040 ez tax form Table 1 shows the maximum deduction amounts for 2001. 2012 1040 ez tax form Table 1. 2012 1040 ez tax form Maximum Deduction for 2001 Qualified Vehicle Placed in Service Before Sept. 2012 1040 ez tax form 11 Placed in Service After Sept. 2012 1040 ez tax form 10 Passenger automobile $3,060 $7,660 Electric car 9,280 23,080 1 1$22,980 if you place an electric car in service in 2002. 2012 1040 ez tax form Election not to claim the allowance. 2012 1040 ez tax form   The increased maximum depreciation deduction does not apply if you elected not to claim the special depreciation allowance as explained earlier under Election Not To Claim the Allowance and Rules for Returns Filed Before June 1, 2002. 2012 1040 ez tax form New York Liberty Zone Benefits Several benefits are available for property you place in service in the New York Liberty Zone (Liberty Zone). 2012 1040 ez tax form They include a special depreciation allowance for the year you place the property in service, an increased section 179 deduction, and the classification of certain leasehold improvement property as 5-year property. 2012 1040 ez tax form Area defined. 2012 1040 ez tax form   The New York Liberty Zone is the area located on or south of Canal Street, East Broadway (east of its intersection with Canal Street), or Grand Street (east of its intersection with East Broadway) in the Borough of Manhattan in the City of New York, New York. 2012 1040 ez tax form Special Liberty Zone Depreciation Allowance You can take a special depreciation allowance for qualified Liberty Zone property you place in service after September 10, 2001. 2012 1040 ez tax form The allowance is an additional deduction of 30% of the property's depreciable basis. 2012 1040 ez tax form To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. 2012 1040 ez tax form See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. 2012 1040 ez tax form The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. 2012 1040 ez tax form There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. 2012 1040 ez tax form In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. 2012 1040 ez tax form You cannot claim the special Liberty Zone depreciation allowance for property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. 2012 1040 ez tax form Qualified property is eligible for only one special depreciation allowance. 2012 1040 ez tax form Example 1. 2012 1040 ez tax form On November 1, 2001, you bought and placed in service in your business, which is in the Liberty Zone, qualified Liberty Zone property that cost $200,000. 2012 1040 ez tax form You did not elect to claim a section 179 deduction. 2012 1040 ez tax form You can deduct 30% of the cost ($60,000) as a special Liberty Zone depreciation allowance for 2001. 2012 1040 ez tax form You use the remaining $140,000 of cost to figure your regular depreciation deduction for 2001 and later years. 2012 1040 ez tax form Example 2. 2012 1040 ez tax form The facts are the same as in Example 1, except that you choose to deduct $59,000 of the property's cost as a section 179 deduction. 2012 1040 ez tax form (See Increased Section 179 Deduction, later, for information concerning how this section 179 deduction amount is figured). 2012 1040 ez tax form You use the remaining $141,000 of cost to figure your special Liberty Zone depreciation allowance of $42,300 ($141,000 × 30%). 2012 1040 ez tax form You use the remaining $98,700 of cost to figure your regular depreciation deduction for 2001 and later years. 2012 1040 ez tax form Qualified Liberty Zone Property For a 2001 calendar or fiscal year and a 2000 fiscal year that ends after September 10, 2001, property qualifies for the special Liberty Zone depreciation allowance if it meets the following requirements. 2012 1040 ez tax form It is one of the following types of property. 2012 1040 ez tax form Used property depreciated under MACRS with a recovery period of 20 years or less. 2012 1040 ez tax form See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. 2012 1040 ez tax form Used water utility property. 2012 1040 ez tax form See 25-year property on page 22 in Publication 946. 2012 1040 ez tax form Used computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. 2012 1040 ez tax form (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. 2012 1040 ez tax form ) Certain nonresidential real property and residential rental property (defined later). 2012 1040 ez tax form It meets the following tests (explained later under Tests to be met). 2012 1040 ez tax form Acquisition date test. 2012 1040 ez tax form Placed in service date test. 2012 1040 ez tax form Substantial use test. 2012 1040 ez tax form Original use test. 2012 1040 ez tax form It is not excepted property (explained later under Excepted property). 2012 1040 ez tax form Nonresidential real property and residential rental property. 2012 1040 ez tax form   This property is qualifying property only to the extent it rehabilitates real property damaged, or replaces real property destroyed or condemned, as a result of the terrorist attack of September 11, 2001. 2012 1040 ez tax form Property is treated as replacing destroyed or condemned property if, as part of an integrated plan, such property replaces real property included in a continuous area that includes real property destroyed or condemned. 2012 1040 ez tax form   For these purposes, real property is considered destroyed (or condemned) only if an entire building or structure was destroyed (or condemned) as a result of the terrorist attack. 2012 1040 ez tax form Otherwise, the property is considered damaged real property. 2012 1040 ez tax form For example, if certain structural components of a building (such as walls, floors, or plumbing fixtures) are damaged or destroyed as a result of the terrorist attack, but the building is not destroyed (or condemned), then only costs related to replacing the damaged or destroyed structural components qualify for the special Liberty Zone depreciation allowance. 2012 1040 ez tax form Tests to be met. 2012 1040 ez tax form   To qualify for the special Liberty Zone depreciation allowance, your property must meet all of the following tests. 2012 1040 ez tax form Acquisition date test. 2012 1040 ez tax form   You must have acquired the property by purchase after September 10, 2001, and there must not have been a binding written contract for the acquisition in effect before September 11, 2001. 2012 1040 ez tax form   For information on the acquisition of property by purchase, see Property Acquired by Purchase on page 15 of Publication 946. 2012 1040 ez tax form   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001. 2012 1040 ez tax form Placed in service date test. 2012 1040 ez tax form   Generally, the property must be placed in service for use in your trade or business or for the production of income before January 1, 2007 (January 1, 2010, in the case of qualifying nonresidential real property and residential rental property). 2012 1040 ez tax form   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. 2012 1040 ez tax form Substantial use test. 2012 1040 ez tax form   Substantially all use of the property must be in the Liberty Zone and in the active conduct of your trade or business in the Liberty Zone. 2012 1040 ez tax form Original use test. 2012 1040 ez tax form   The original use of the property in the Liberty Zone must have begun with you after September 10, 2001. 2012 1040 ez tax form   Used property can be qualified Liberty Zone property if it has not previously been used within the Liberty Zone. 2012 1040 ez tax form Also, additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test if the original use of the property in the Liberty Zone began with you. 2012 1040 ez tax form Excepted property. 2012 1040 ez tax form   The following property does not qualify for the special Liberty Zone depreciation allowance. 2012 1040 ez tax form Property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. 2012 1040 ez tax form Property required to be depreciated using ADS. 2012 1040 ez tax form This includes listed property used 50% or less in a qualified business use. 2012 1040 ez tax form Qualified New York Liberty Zone leasehold improvement property (defined earlier in Excepted Property under Special Depreciation Allowance). 2012 1040 ez tax form Example. 2012 1040 ez tax form In December 2001, you bought and placed in service in your business in the Liberty Zone the following property. 2012 1040 ez tax form New office furniture with a MACRS recovery period of 7 years. 2012 1040 ez tax form A used computer with a MACRS recovery period of 5 years. 2012 1040 ez tax form The computer had not previously been used within the Liberty Zone. 2012 1040 ez tax form Because the office furniture is new property, it qualifies for the special depreciation allowance, but not the special Liberty Zone depreciation allowance. 2012 1040 ez tax form Because the computer is used property that had not previously been used in the Liberty Zone, it qualifies for the special Liberty Zone depreciation allowance, but not the special depreciation allowance. 2012 1040 ez tax form Election Not To Claim the Liberty Zone Allowance You can elect not to claim the special Liberty Zone depreciation allowance for qualified property. 2012 1040 ez tax form If you make this election for any property, it applies to all property in the same property class placed in service during the year. 2012 1040 ez tax form To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. 2012 1040 ez tax form When to make the election. 2012 1040 ez tax form   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. 2012 1040 ez tax form   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). 2012 1040 ez tax form Attach the election statement to the amended return. 2012 1040 ez tax form At the top of the election statement, write “Filed pursuant to section 301. 2012 1040 ez tax form 9100–2. 2012 1040 ez tax form ” Revoking an election. 2012 1040 ez tax form   Once you elect not to deduct the special Liberty Zone depreciation allowance for a class of property, you cannot revoke the election without IRS consent. 2012 1040 ez tax form A request to revoke the election is subject to a user fee. 2012 1040 ez tax form Returns filed before June 1, 2002. 2012 1040 ez tax form   The rules that apply to the special depreciation allowance discussed earlier in Rules for Returns Filed Before June 1, 2002 under Special Depreciation Allowance also apply to the special Liberty Zone depreciation allowance. 2012 1040 ez tax form Increased Section 179 Deduction Under section 179 of the Internal Revenue Code, you can choose to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. 2012 1040 ez tax form For tax years beginning in 2000, that limit was $20,000. 2012 1040 ez tax form For tax years beginning in 2001 and 2002, that limit is generally $24,000. 2012 1040 ez tax form If the cost of qualifying section 179 property placed in service in a year is over $200,000, you must reduce the dollar limit (but not below zero) by the amount of the cost over $200,000. 2012 1040 ez tax form Increased Dollar Limit The dollar limit on the section 179 deduction is increased for certain property placed in service in the Liberty Zone. 2012 1040 ez tax form The increase is the smaller of the following amounts. 2012 1040 ez tax form $35,000. 2012 1040 ez tax form The cost of section 179 property that is qualified Liberty Zone property placed in service during the year. 2012 1040 ez tax form If you use the revised 2001 Form 4562 (dated March 2002) for a tax year beginning in 2000, you must reduce the section 179 dollar limit to $20,000 before adding the additional amount for qualified property. 2012 1040 ez tax form Qualified property. 2012 1040 ez tax form   To qualify for the increased section 179 deduction, your property must be section 179 property that is either: Qualified Liberty Zone property, or Property that would be qualified Liberty Zone property except that it is eligible for the special depreciation allowance. 2012 1040 ez tax form Qualified Liberty Zone property is explained earlier in Qualified Liberty Zone Property under Special Liberty Zone Depreciation Allowance. 2012 1040 ez tax form Property eligible for the special depreciation allowance is explained earlier in Qualified Property under Special Depreciation Allowance. 2012 1040 ez tax form For information on the requirements that must be met for property to qualify for the section 179 deduction, see What Property Qualifies? on page 14 of Publication 946. 2012 1040 ez tax form Example 1. 2012 1040 ez tax form In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $25,000. 2012 1040 ez tax form Because this cost is less than $35,000, the dollar limit on the section 179 deduction is increased by $25,000 to $49,000 ($24,000 + $25,000). 2012 1040 ez tax form Example 2. 2012 1040 ez tax form In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $75,000. 2012 1040 ez tax form Because $35,000 is less than the cost of the property you place in service, the dollar limit on the section 179 deduction you can claim is increased by $35,000 to $59,000 ($24,000 + $35,000). 2012 1040 ez tax form Reduced Dollar Limit Generally, you must reduce the dollar limit for a year by the cost of qualifying section 179 property placed in service in the year that is more than $200,000. 2012 1040 ez tax form However, if the cost of your Liberty Zone property exceeds $200,000, you take into account only 50% (instead of 100%) of the cost of qualified property placed in service in a year. 2012 1040 ez tax form Example. 2012 1040 ez tax form In 2002, you place in service in your business, which is in the Liberty Zone, qualified property costing $460,000. 2012 1040 ez tax form Your increased dollar limit is $59,000 ($35,000 + $24,000). 2012 1040 ez tax form Because 50% of the cost of the property you place in service ($230,000) is $30,000 more than $200,000, you must reduce your $59,000 dollar limit to $29,000 ($59,000 - $30,000). 2012 1040 ez tax form Recapture Rules Rules similar to those explained on page 20 of Publication 946 under When Must You Recapture the Deduction? apply with respect to any qualified property you stop using in the Liberty Zone. 2012 1040 ez tax form Returns Filed Before June 1, 2002 If you filed a return before June 1, 2002, and did not deduct the increased section 179 amount for qualified property placed in service after September 10, 2001, you can deduct the increased amount by filing an amended return by the due date (not including extensions) of the return for the year after the year the property was placed in service. 2012 1040 ez tax form This rule applies to returns for the following years. 2012 1040 ez tax form 2000 fiscal years that end after September 10, 2001. 2012 1040 ez tax form 2001 calendar and fiscal years. 2012 1040 ez tax form On the amended return, write “Filed Pursuant to Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33. 2012 1040 ez tax form ” Liberty Zone Leasehold Improvement Property Qualified Liberty Zone leasehold improvement property (described earlier in Qualified Property under Special Depreciation Allowance) is 5-year property. 2012 1040 ez tax form This means that it is depreciated over a recovery period of 5 years. 2012 1040 ez tax form For information about recovery periods, see Which Recovery Period Applies? on page 23 of Publication 946. 2012 1040 ez tax form The straight-line method must be used with respect to qualified Liberty Zone leasehold improvement property. 2012 1040 ez tax form Under ADS, the recovery period for qualified Liberty Zone leasehold improvement property is 9 years. 2012 1040 ez tax form Returns Filed Before June 1, 2002 If you filed either of the following returns before June 1, 2002, and did not depreciate qualified Liberty Zone leasehold improvement property placed in service during the tax year as 5-year property using the straight line method, you should file an amended return before you file your return for the year after the year the property was placed in service. 2012 1040 ez tax form Your 2000 fiscal year return (for a 2000 fiscal year that ends after September 10, 2001). 2012 1040 ez tax form Your 2001 calendar or fiscal year return. 2012 1040 ez tax form On the amended return, write “Filed Pursuant to Rev. 2012 1040 ez tax form Proc. 2012 1040 ez tax form 2002–33. 2012 1040 ez tax form ” Table 2. 2012 1040 ez tax form Rules for Returns Filed Before June 1, 2002 Note:This chart highlights the rules for returns affected by the Job Creation and Worker Assistance Act of 2002 that were filed before June 1, 2002, without accounting for any of the new benefits under the law. 2012 1040 ez tax form See the text for definitions and examples. 2012 1040 ez tax form Do not rely on this chart alone. 2012 1040 ez tax form IF you want to. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form THEN you. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form BY. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form claim the special depreciation allowance or special Liberty Zone depreciation allowance • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service, or • must file Form 3115, Application for Change in Accounting Method, with your return for the year after the year the property was placed in service • the due date (including extensions) of your return for the year after the year the property was placed in service, and • must file a copy of your completed Form 3115 with the IRS National Office • the date you file the original Form 3115 with your return for the year after the year the property was placed in service. 2012 1040 ez tax form elect not to claim the special depreciation allowance or the special Liberty Zone depreciation allowance 1 • must have filed your return timely for the year the property was placed in service, and   • must file an amended return stating you are not claiming the allowance • the date that is 6 months after the due date of the original return (not including extensions). 2012 1040 ez tax form deduct the increased section 179 amount • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service. 2012 1040 ez tax form use a 5-year recovery period for depreciating qualified Liberty Zone leasehold improvement property • should file an amended return • the date you file your return for the year after the year the property was placed in service. 2012 1040 ez tax form 1See also Deemed election under Rules for Returns Filed Before June 1, 2002, earlier. 2012 1040 ez tax form Prev  Up  Next   Home   More Online Publications
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Contact My Local Office in Nevada

Face-to-face Tax Help

IRS Taxpayer Assistance Centers (TACs) are your source for personal tax help when you believe your tax issue can only be handled face-to-face. No appointment is necessary.

Keep in mind, many questions can be resolved online without waiting in line. Through IRS.gov you can:
• Set up a payment plan.
• Get a transcript of your tax return.
• Make a payment.
• Check on your refund.
• Find answers to many of your tax questions.

We are now referring all requests for tax return preparation services to other available resources. You can take advantage of free tax preparation through Free File, Free File Fillable Forms or through a volunteer site in your community. To find the nearest volunteer site location or to get more information about Free File, go to the top of the page and enter “Free Tax Help” in the Search box.

If you have a tax account issues and feel that it requires talking with someone face-to-face, visit your local TAC.

Caution:  Many of our offices are located in Federal Office Buildings. These buildings may not allow visitors to bring in cell phones with camera capabilities.

Multilingual assistance is available in every office. Hours of operation are subject to change.

Before visiting your local office click on "Services Provided" in the chart below to see what services are available. Services are limited and not all services are available at every TAC office and may vary from site to site. You can get these services on a walk-in basis.

City  Street Address  Days/Hours of Service  Telephone* 
Las Vegas  110 City Parkway
Las Vegas, NV 89106 

Monday - Friday 8:30 a.m. -4:30 p.m.

 

**This office will be open until 6:00 p.m. on 4/14 & 4/15**

 

Services Provided

(702) 868-5005 
Reno  200 S. Virginia St.
Reno, NV 89501 

Monday-Friday 8:30 a.m.- 4:30 p.m.

 

Services Provided

(775) 824-2218

* Note: The phone numbers in the chart above are not toll-free for all locations. When you call, you will reach a recorded business message with information about office hours, locations and services provided in that office. If face-to-face assistance is not a priority for you, you may also get help with IRS letters or resolve tax account issues by phone, toll free at 1-800-829-1040 (individuals) or 1-800-829-4933 (businesses). 

For information on where to file your tax return please see Where to File Addresses

The Taxpayer Advocate Service: Call 702-868-5179 in the Las Vegas area or 1-877-777-4778 elsewhere, or see  Publication 1546, The Taxpayer Advocate Service of the IRS. For further information, see  Tax Topic 104

Partnerships

IRS and organizations all over the country are partnering to assist taxpayers. Through these partnerships, organizations are also achieving their own goals. These mutually beneficial partnerships are strengthening outreach efforts and bringing education and assistance to millions.

For more information about these programs for individuals and families, contact the Stakeholder Partnerships, Education and Communication Office at:

Internal Revenue Service
110 City Parkway, Ste. 201
MS 4040LV
Las Vegas, NV 89106

For more information about these programs for businesses, your local Stakeholder Liaison office establishes relationships with organizations representing small business and self-employed taxpayers. They provide information about the policies, practices and procedures the IRS uses to ensure compliance with the tax laws. To establish a relationship with us, use this list to find a contact in your state:

Stakeholder Liaison (SL) Phone Numbers for Organizations Representing Small Businesses and Self-employed Taxpayers.

Page Last Reviewed or Updated: 28-Mar-2014

The 2012 1040 Ez Tax Form

2012 1040 ez tax form 4. 2012 1040 ez tax form   Filing U. 2012 1040 ez tax form S. 2012 1040 ez tax form Tax Returns Table of Contents Who Must FileFiling Requirement if Possession Income Is Excluded When To FileExtension of Time To File Where To File Special Rules for Completing Your U. 2012 1040 ez tax form S. 2012 1040 ez tax form Tax ReturnU. 2012 1040 ez tax form S. 2012 1040 ez tax form Armed Forces. 2012 1040 ez tax form Deductions if Possession Income Is Excluded Foreign Tax Credit if Possession Income Is Excluded Self-Employment Tax Additional Medicare Tax Net Investment Income Tax Paying Your TaxesEstimated Tax Double TaxationCompetent Authority Assistance The information in chapter 3 will tell you if a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return is required for your situation. 2012 1040 ez tax form If a U. 2012 1040 ez tax form S. 2012 1040 ez tax form return is required, your next step is to see if you meet the filing requirements. 2012 1040 ez tax form If you do meet the filing requirements, the information presented in this chapter will help you understand the special procedures involved. 2012 1040 ez tax form This chapter discusses: Filing requirements, When to file your return, Where to send your return, How to adjust your deductions and credits if you are excluding income from American Samoa or Puerto Rico, How to make estimated tax payments and pay self-employment tax, and How to request assistance in resolving instances of double taxation. 2012 1040 ez tax form Who Must File If you are not required to file a possession tax return that includes your worldwide income, you must generally file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return if your gross income is at least the amount shown in Table 4-1, later, for your filing status and age. 2012 1040 ez tax form If you were a bona fide resident of American Samoa or Puerto Rico and are able to exclude your possession income from your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return, your filing requirement may be less than the amount in Table 4-1. 2012 1040 ez tax form For details, see the information under Filing Requirement if Possession Income Is Excluded , later. 2012 1040 ez tax form Some individuals (such as those who can be claimed as a dependent on another person's return or who owe certain taxes, such as self-employment tax) must file a tax return even though the gross income is less than the amount shown in Table 4-1 for their filing status and age. 2012 1040 ez tax form For more information, see the Form 1040 instructions. 2012 1040 ez tax form Filing Requirement if Possession Income Is Excluded If you were a bona fide resident of American Samoa or Puerto Rico and qualify to exclude possession income on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return, you must determine your adjusted filing requirement. 2012 1040 ez tax form Generally, your filing requirement is based on the total of your (and your spouse's if filing a joint return) personal exemption(s) plus your standard deduction. 2012 1040 ez tax form Personal exemption. 2012 1040 ez tax form   When figuring your filing requirement, your personal exemption is allowed in full. 2012 1040 ez tax form Do not reduce it for this purpose. 2012 1040 ez tax form Do not include exemptions for your dependents. 2012 1040 ez tax form Allowable standard deduction. 2012 1040 ez tax form   Unless your filing status is married filing separately, the minimum income level at which you must file a return is based, in part, on the standard deduction for your filing status and age. 2012 1040 ez tax form Because the standard deduction applies to all types of income, it must be divided between your excluded income and income from other sources. 2012 1040 ez tax form Multiply the regular standard deduction for your filing status and age (this is zero if you are married filing a separate return; all others, see Form 1040 instructions) by the following fraction:      Gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax     Gross income from all sources (including excluded possession income)   Example. 2012 1040 ez tax form Barbara Spruce, a U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizen, is single, under 65, and a bona fide resident of American Samoa. 2012 1040 ez tax form During 2013, she received $20,000 of income from American Samoa sources (qualifies for exclusion) and $8,000 of income from sources outside the possession (subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax). 2012 1040 ez tax form Her allowable standard deduction for 2013 is figured as follows:   $8,000 $28,000 × $6,100 (regular standard deduction) = $1,743   Adjusted filing requirement. 2012 1040 ez tax form   Figure your adjusted filing requirement by adding the amount of your allowable standard deduction to the amount of your personal exemption. 2012 1040 ez tax form You must file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return if your gross income is at least the amount shown on line 3 of the following worksheet. 2012 1040 ez tax form    1. 2012 1040 ez tax form Enter the allowable standard deduction you figured earlier under Allowable standard deduction . 2012 1040 ez tax form If your filing status is married filing separately, enter -0-   2. 2012 1040 ez tax form Personal exemption. 2012 1040 ez tax form If your filing status is married filing jointly, enter $7,800; if someone can claim you as a dependent, enter -0-; otherwise, enter $3,900   3. 2012 1040 ez tax form Add lines 1 and 2. 2012 1040 ez tax form You must file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return if your gross income from sources outside the relevant possession is at least this amount   Table 4-1. 2012 1040 ez tax form 2013 Filing Requirements Chart for Most Taxpayers IF your filing status is. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form AND at the end of 2013 you were*. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form THEN file a return if your gross income** was at least. 2012 1040 ez tax form . 2012 1040 ez tax form . 2012 1040 ez tax form single under 65 $10,000 65 or older $11,500 married filing jointly*** under 65 (both spouses) $20,000 65 or older (one spouse) $21,200 65 or older (both spouses) $22,400 married filing separately any age $3,900 head of household under 65 $12,850 65 or older $14,350 qualifying widow(er)  with dependent child under 65 $16,100 65 or older $17,300 * If you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. 2012 1040 ez tax form ** Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States (even if you can exclude part or all of it). 2012 1040 ez tax form Do not include social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time during 2013, or (b) one-half of your social security benefits plus your other gross income is more than $25,000 ($32,000 if married filing jointly). 2012 1040 ez tax form If (a) or (b) applies, see the instructions for Form 1040 or Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure the taxable part of social security benefits you must include in gross income. 2012 1040 ez tax form *** If you did not live with your spouse at the end of 2013 (or on the date your spouse died) and your gross income was at least $3,900 you must file a return regardless of your age. 2012 1040 ez tax form Example 1. 2012 1040 ez tax form James and Joan Thompson, one over 65, are U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizens and bona fide residents of Puerto Rico during the entire tax year. 2012 1040 ez tax form They file a joint income tax return. 2012 1040 ez tax form During 2013, they received $35,000 of income from Puerto Rico sources (qualifies for exclusion) and $6,000 of income from sources outside Puerto Rico (subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax). 2012 1040 ez tax form Their allowable standard deduction for 2013 is figured as follows:   $6,000 $41,000 × $13,400 ( standard deduction for 65 or older (one spouse) ) = $1,961   The Thompsons do not have to file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return because their gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax ($6,000) is less than their allowable standard deduction plus their personal exemptions ($1,961+ $7,800= $9,761). 2012 1040 ez tax form Example 2. 2012 1040 ez tax form Barbara Spruce (see Example under Allowable standard deduction, earlier), however, must file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return because her gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax ($8,000) is more than her allowable standard deduction plus her personal exemption ($1,743 + $3,900 = $5,643). 2012 1040 ez tax form If you must file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return, you may be able to file a paperless return using IRS e-file. 2012 1040 ez tax form See your form instructions or visit our website at IRS. 2012 1040 ez tax form gov. 2012 1040 ez tax form When To File If you file on a calendar year basis, the due date for filing your U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return is April 15 following the end of your tax year. 2012 1040 ez tax form If you use a fiscal year (a year ending on the last day of a month other than December), the due date is the 15th day of the 4th month after the end of your fiscal year. 2012 1040 ez tax form If any due date falls on a Saturday, Sunday, or legal holiday, your tax return is due on the next business day. 2012 1040 ez tax form For your 2013 tax return, the due date is April 15, 2014. 2012 1040 ez tax form If you mail your federal tax return, it is considered timely if it bears an official postmark dated on or before the due date, including any extensions. 2012 1040 ez tax form If you use a private delivery service designated by the IRS, generally the postmark date is the date the private delivery service records in its database or marks on the mailing label. 2012 1040 ez tax form See your form instructions for a list of designated private delivery services. 2012 1040 ez tax form Extension of Time To File You can get an extension of time to file your U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return. 2012 1040 ez tax form Special rules apply for those living outside the United States. 2012 1040 ez tax form Automatic 6-Month Extension If you cannot file your 2013 return by the due date, you can get an automatic 6-month extension of time to file. 2012 1040 ez tax form Example. 2012 1040 ez tax form If your return must be filed by April 15, 2014, you will have until October 15, 2014, to file. 2012 1040 ez tax form Although you are not required to make a payment of the tax you estimate as due, Form 4868 does not extend the time to pay taxes. 2012 1040 ez tax form If you do not pay the amount due by the regular due date (generally April 15), you will owe interest on any unpaid tax from the original due date to the date you pay the tax. 2012 1040 ez tax form You may also be charged penalties (see the Instructions for Form 4868). 2012 1040 ez tax form How to get the automatic extension. 2012 1040 ez tax form   You can get the automatic 6-month extension if you do one of the following by the due date for filing your return. 2012 1040 ez tax form E-file Form 4868 using your personal computer or a tax professional. 2012 1040 ez tax form E-file and pay by credit or debit card. 2012 1040 ez tax form Your payment must be at least $1. 2012 1040 ez tax form You may pay by phone or over the Internet. 2012 1040 ez tax form Do not file Form 4868. 2012 1040 ez tax form File a paper Form 4868. 2012 1040 ez tax form If you are a fiscal year taxpayer, you must file a paper Form 4868. 2012 1040 ez tax form See Form 4868 for information on getting an extension using these options. 2012 1040 ez tax form When to file. 2012 1040 ez tax form   You must request the automatic extension by the due date for your return. 2012 1040 ez tax form You can file your return any time before the 6-month extension period ends. 2012 1040 ez tax form When you file your return. 2012 1040 ez tax form   Enter any payment you made related to the extension of time to file on Form 1040, line 68. 2012 1040 ez tax form If you file Form 1040A, U. 2012 1040 ez tax form S. 2012 1040 ez tax form Individual Income Tax Return, or Form 1040EZ, Income Tax Return for Single and Joint Filers With No Dependents, include that payment in your total payments on Form 1040A, line 41, or Form 1040EZ, line 9. 2012 1040 ez tax form Also enter “Form 4868” and the amount paid in the space to the left of the entry space for line 41 or line 9. 2012 1040 ez tax form You cannot ask the Internal Revenue Service to figure your tax if you use the extension of time to file. 2012 1040 ez tax form Individuals Outside the United States and Puerto Rico You are allowed an automatic 2-month extension (until June 16, 2014, if you use the calendar year) to file your 2013 return and pay any federal income tax due if: You are a U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizen or resident, and On the due date of your return: You are living outside of the United States and Puerto Rico, and your main place of business or post of duty is outside the United States and Puerto Rico, or You are in military or naval service on duty outside the United States and Puerto Rico. 2012 1040 ez tax form However, if you pay the tax due after the regular due date (generally April 15), interest will be charged from April 15 until the date the tax is paid. 2012 1040 ez tax form If you serve in a combat zone or qualified hazardous duty area, you may be eligible for a longer extension of time to file. 2012 1040 ez tax form For more information, see Publication 3, Armed Forces' Tax Guide. 2012 1040 ez tax form Married taxpayers. 2012 1040 ez tax form   If you file a joint return, only one spouse has to qualify for this automatic extension. 2012 1040 ez tax form However, if you and your spouse file separate returns, this automatic extension applies only to the spouse who qualifies. 2012 1040 ez tax form How to get the extension. 2012 1040 ez tax form   To use this special automatic extension, you must attach a statement to your return explaining what situation qualified you for the extension. 2012 1040 ez tax form (See the situations listed under (2), earlier. 2012 1040 ez tax form ) Extension beyond 2 months. 2012 1040 ez tax form   If you cannot file your 2013 return within the automatic 2-month extension period, you can get an additional 4-month extension, for a total of 6 months. 2012 1040 ez tax form File Form 4868 by the end of the automatic extension period (June 16, 2014 for calendar year taxpayers). 2012 1040 ez tax form Be sure to check the box on Form 4868, line 8, if appropriate. 2012 1040 ez tax form   In addition to this 6-month extension, taxpayers who are out of the country (as defined under (2) earlier) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). 2012 1040 ez tax form   To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. 2012 1040 ez tax form Send the letter by the extended due date (October 15 for calendar year taxpayers) to:  Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   You will not receive any notification from the IRS unless your request is denied for being untimely. 2012 1040 ez tax form Where To File Use the addresses listed below if you have to file Form 1040 with the United States and you are excluding possession income from American Samoa or Puerto Rico. 2012 1040 ez tax form If you are not including a check or a money order, send your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return and all attachments to:   Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA If you are including a check or a money order, send your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return and all attachments to:  Internal Revenue Service P. 2012 1040 ez tax form O. 2012 1040 ez tax form Box 1303 Charlotte, NC 28201-1303 USA Also send your U. 2012 1040 ez tax form S. 2012 1040 ez tax form return to these addresses if you are attaching Form 5074 or Form 8689. 2012 1040 ez tax form If you are not in either of the above categories, send your return to the address shown in the Form 1040 instructions for the possession or state in which you reside. 2012 1040 ez tax form Special Rules for Completing Your U. 2012 1040 ez tax form S. 2012 1040 ez tax form Tax Return If you are not excluding possession income from your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return, follow the instructions for the specific forms you file. 2012 1040 ez tax form However, you may not qualify to claim the earned income credit (EIC). 2012 1040 ez tax form Earned income credit. 2012 1040 ez tax form   Even if you maintain a household in one of the possessions discussed in this publication that is your main home and the home of your qualifying child, you cannot claim the earned income credit on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return. 2012 1040 ez tax form This credit is available only if you maintain the household in the United States or you are serving on extended active duty in the U. 2012 1040 ez tax form S. 2012 1040 ez tax form Armed Forces. 2012 1040 ez tax form U. 2012 1040 ez tax form S. 2012 1040 ez tax form Armed Forces. 2012 1040 ez tax form   U. 2012 1040 ez tax form S. 2012 1040 ez tax form military personnel stationed outside the United States on extended active duty are considered to live in the United States during that duty period for purposes of the EIC. 2012 1040 ez tax form Extended active duty means you are called or ordered to duty for an indefinite period or for a period of more than 90 days. 2012 1040 ez tax form Once you begin serving your extended active duty, you are still considered to have been on extended active duty even if you do not serve more than 90 days. 2012 1040 ez tax form Income from American Samoa or Puerto Rico excluded. 2012 1040 ez tax form   You will not be allowed to take deductions and credits that apply to the excluded income. 2012 1040 ez tax form The additional information you need follows. 2012 1040 ez tax form Deductions if Possession Income Is Excluded Deductions that specifically apply to your excluded possession income, such as employee business expenses, are not allowable on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return. 2012 1040 ez tax form Deductions that do not specifically apply to any particular type of income must be divided between your excluded income from sources in the relevant possession and income from all other sources to find the part that you can deduct on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return. 2012 1040 ez tax form Examples of such deductions are alimony payments, the standard deduction, and certain itemized deductions (such as medical expenses, charitable contributions, real estate taxes, and mortgage interest on your home). 2012 1040 ez tax form Figuring the deduction. 2012 1040 ez tax form   To find the part of a deduction that is allowable, multiply the deduction by the following fraction. 2012 1040 ez tax form   Gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax     Gross income from all sources (including excluded possession income)   Adjustments to Income Your adjusted gross income equals your gross income minus certain deductions (adjustments). 2012 1040 ez tax form Moving expense deduction. 2012 1040 ez tax form   Generally, expenses of a move to a possession are directly attributable to wages, salaries, and other earned income from that possession. 2012 1040 ez tax form Likewise, the expenses of a move back to the United States are generally attributable to U. 2012 1040 ez tax form S. 2012 1040 ez tax form earned income. 2012 1040 ez tax form   If you are claiming expenses for a move to a relevant possession, how and where you will deduct the expenses depends on your status as a bona fide resident and if any of your possession income is excluded on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return. 2012 1040 ez tax form For more information, see Moving expense deduction in chapter 3 under the name of the relevant possession. 2012 1040 ez tax form   If you are claiming expenses for a move from a U. 2012 1040 ez tax form S. 2012 1040 ez tax form possession to the United States, use Form 3903 to figure your deductible expenses and enter the amount on Form 1040, line 26. 2012 1040 ez tax form For purposes of deducting moving expenses, the possessions are considered part of the United States. 2012 1040 ez tax form See Publication 521, Moving Expenses, for information about what expenses are deductible. 2012 1040 ez tax form Self-employment tax deduction. 2012 1040 ez tax form   Generally, if you are reporting self-employment income on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form return, you can include the deductible part of your self-employment tax on Form 1040, line 27. 2012 1040 ez tax form This is an income tax deduction only; it is not a deduction in figuring net earnings from self-employment (for self-employment tax). 2012 1040 ez tax form   However, if you are a bona fide resident of American Samoa or Puerto Rico and you exclude all of your self-employment income from gross income, you cannot take the deduction on Form 1040, line 27, because the deduction is related to excluded income. 2012 1040 ez tax form   If only part of your self-employment income is excluded, the part of the deduction that is based on the nonexcluded income is allowed. 2012 1040 ez tax form This would happen if, for instance, you have two businesses and only the income from one of them is excludable. 2012 1040 ez tax form   For purposes of the deduction only, figure the self-employment tax on the nonexcluded income by multiplying your total self-employment tax (from Schedule SE (Form 1040)), Self-Employment Tax) by the following fraction. 2012 1040 ez tax form   Self-employment income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax     Total self-employment income (including excluded possession income)   The result is your self-employment tax on nonexcluded income. 2012 1040 ez tax form Include the deductible part of this amount on Form 1040, line 27. 2012 1040 ez tax form Individual retirement arrangement (IRA) deduction. 2012 1040 ez tax form   Do not take excluded income into account when figuring your deductible IRA contribution. 2012 1040 ez tax form Standard Deduction The standard deduction is composed of the regular standard deduction amount and the additional standard deduction for taxpayers who are blind or age 65 or over. 2012 1040 ez tax form To find the amount you can claim on Form 1040, line 40, first figure your full standard deduction according to the Instructions for Form 1040. 2012 1040 ez tax form Then multiply your full standard deduction by the following fraction. 2012 1040 ez tax form   Gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax     Gross income from all sources (including excluded possession income)   In the space above line 40, enter “Standard deduction modified due to income excluded under section 931 (if American Samoa) or section 933 (if Puerto Rico). 2012 1040 ez tax form ” This calculation may not be the same as the one you used to determine if you need to file a U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return. 2012 1040 ez tax form Itemized Deductions Most itemized deductions do not apply to a particular type of income. 2012 1040 ez tax form However, itemized deductions can be divided into three categories. 2012 1040 ez tax form Those that apply specifically to excluded income, such as employee business expenses, are not deductible. 2012 1040 ez tax form Those that apply specifically to income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax, which might also be employee business expenses, are fully allowable under the Instructions for Schedule A (Form 1040), Itemized Deductions. 2012 1040 ez tax form Those that do not apply to specific income must be allocated between your gross income subject to U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax and your total gross income from all sources. 2012 1040 ez tax form The example given later shows how to figure the deductible part of each type of expense that is not related to specific income. 2012 1040 ez tax form Example. 2012 1040 ez tax form In 2013, you and your spouse are both under 65 and U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizens who are bona fide residents of Puerto Rico during the entire tax year. 2012 1040 ez tax form You file a joint income tax return. 2012 1040 ez tax form During 2013, you earned $20,000 from Puerto Rican sources (excluded from U. 2012 1040 ez tax form S. 2012 1040 ez tax form gross income) and your spouse earned $60,000 from the U. 2012 1040 ez tax form S. 2012 1040 ez tax form Government. 2012 1040 ez tax form You have $16,000 of itemized deductions that do not apply to any specific type of income. 2012 1040 ez tax form These are medical expenses of $4,000, real estate taxes of $5,000, home mortgage interest of $6,000, and charitable contributions of $1,000 (cash contributions). 2012 1040 ez tax form You determine the amount of each deduction that you can claim on your Schedule A (Form 1040), Itemized Deductions, by multiplying the deduction by the fraction shown under Figuring the deduction , earlier under Deductions if Possession Income is Excluded. 2012 1040 ez tax form   Medical Expenses   $60,000$80,000 × $4,000 = $3,000  (enter on line 1  of Schedule A)     Real Estate Taxes   $60,000$80,000 × $5,000 = $3,750  (enter on line 6  of Schedule A)     Home Mortgage Interest   $60,000$80,000 × $6,000 = $4,500  (enter on line 10 or 11 of  Schedule A)     Charitable Contributions (cash contributions)   $60,000$80,000 × $1,000 = $750  (enter on line 16 of Schedule A)   Enter on Schedule A (Form 1040) only the allowable portion of each deduction. 2012 1040 ez tax form Overall limitation on itemized deductions. 2012 1040 ez tax form   If your adjusted gross income (discussed earlier) is over $300,000 if married filing jointly or qualifying widow(er); $275,000 if head of household; $250,000 if single; or $150,000 if married filing separately; see the Itemized Deductions Worksheet in the Instructions for Schedule A (Form 1040), to figure your itemized deductions. 2012 1040 ez tax form Personal Exemptions Personal exemptions are allowed in full even if excluding possession income. 2012 1040 ez tax form However, depending upon your adjusted gross income and filing status, the amount you can deduct may be reduced. 2012 1040 ez tax form See the Deduction for Exemptions Worksheet—Line 42 in the instructions for Form 1040. 2012 1040 ez tax form Foreign Tax Credit if Possession Income Is Excluded If you must report American Samoa or Puerto Rico source income on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return, you can claim a foreign tax credit for income taxes paid to the possession on that income. 2012 1040 ez tax form However, you cannot claim a foreign tax credit for taxes paid on possession income that is excluded on your U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax return. 2012 1040 ez tax form The foreign tax credit is generally figured on Form 1116. 2012 1040 ez tax form If you have income, such as U. 2012 1040 ez tax form S. 2012 1040 ez tax form Government wages, that is not excludable, and you also have possession source income that is excludable, you must figure the credit by reducing your foreign taxes paid or accrued by the taxes based on the excluded income. 2012 1040 ez tax form You make this reduction for each separate income category. 2012 1040 ez tax form To find the amount of this reduction, use the following formula for each income category. 2012 1040 ez tax form Excluded income from possession sources less deductible expenses based on that income x Tax paid or accrued to the possession = Reduction in foreign taxes Total income subject to possession tax less deductible expenses based on that income Enter the amount of the reduction on Form 1116, line 12. 2012 1040 ez tax form For more information on the foreign tax credit, see Publication 514. 2012 1040 ez tax form Example. 2012 1040 ez tax form Jason and Lynn Reddy are U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizens who were bona fide residents of Puerto Rico during all of 2013. 2012 1040 ez tax form They file a joint tax return. 2012 1040 ez tax form The following table shows their excludable and taxable income for U. 2012 1040 ez tax form S. 2012 1040 ez tax form federal income tax purposes. 2012 1040 ez tax form   Taxable   Excludable Jason's wages from  U. 2012 1040 ez tax form S. 2012 1040 ez tax form Government $25,000     Lynn's wages from Puerto Rico  corp. 2012 1040 ez tax form     $15,000 Dividend from Puerto Rico corp. 2012 1040 ez tax form doing business in Puerto Rico     200 Dividend from U. 2012 1040 ez tax form S. 2012 1040 ez tax form  corp. 2012 1040 ez tax form doing business  in U. 2012 1040 ez tax form S. 2012 1040 ez tax form * 1,000     Totals $26,000   $15,200 * Income from sources outside Puerto Rico is taxable. 2012 1040 ez tax form   Jason and Lynn must file 2013 income tax returns with both Puerto Rico and the United States. 2012 1040 ez tax form They have gross income of $26,000 for U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax purposes. 2012 1040 ez tax form They paid taxes to Puerto Rico of $4,000 ($3,980 on their wages and $20 on the dividend from the Puerto Rico corporation). 2012 1040 ez tax form They figure their foreign tax credit on two Forms 1116, which they must attach to their U. 2012 1040 ez tax form S. 2012 1040 ez tax form return. 2012 1040 ez tax form They fill out one Form 1116 for wages and one Form 1116 for the dividend. 2012 1040 ez tax form Jason and Lynn figure the Puerto Rico taxes on excluded income as follows. 2012 1040 ez tax form   Wages: ($15,000 ÷ $40,000) × $3,980 = $1,493   Dividend: ($200 ÷ $200) × $20 = $20 They enter $1,493 on Form 1116, line 12, for wages and $20 on the second Form 1116, line 12, for the dividend. 2012 1040 ez tax form Self-Employment Tax Self-employment tax includes both social security and Medicare taxes for individuals who are self-employed. 2012 1040 ez tax form A U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizen or resident alien who is self-employed must pay self-employment tax on net self-employment earnings of $400 or more. 2012 1040 ez tax form This rule applies whether or not the earnings are excludable from gross income (or whether or not a U. 2012 1040 ez tax form S. 2012 1040 ez tax form income tax return must otherwise be filed). 2012 1040 ez tax form Bona fide residents of the possessions discussed in this publication are considered U. 2012 1040 ez tax form S. 2012 1040 ez tax form residents for this purpose and are subject to the self-employment tax. 2012 1040 ez tax form Forms to file. 2012 1040 ez tax form   If you have net self-employment income and are subject to self-employment tax, file one of the following with the United States. 2012 1040 ez tax form If you are required to file Form 1040 with the United States, complete Schedule SE (Form 1040) and attach it to your Form 1040. 2012 1040 ez tax form If you are not required to file Form 1040 with the United States and you are a bona fide resident of American Samoa, the CNMI, Guam, Puerto Rico, or the USVI, file Form 1040-SS. 2012 1040 ez tax form If you are a resident of Puerto Rico, you can file the Spanish-language Form 1040-PR instead. 2012 1040 ez tax form Do not file forms 1040-SS or 1040-PR with Form 1040. 2012 1040 ez tax form If you are required to pay Additional Medicare Tax (discussed later) on your self-employment income, attach Form 8959, Additional Medicare Tax to Form 1040, Form 1040-SS, or Form 1040-PR, as applicable. 2012 1040 ez tax form Chapter 11 Bankruptcy cases. 2012 1040 ez tax form   While you are a debtor in a chapter 11 bankruptcy case, your net profit or loss from self-employment will be included on the income tax return (Form 1041, U. 2012 1040 ez tax form S. 2012 1040 ez tax form Income Tax Return for Estates and Trusts) of the bankruptcy estate. 2012 1040 ez tax form However, you—not the bankruptcy estate—are responsible for paying self-employment tax on your net earnings from self-employment. 2012 1040 ez tax form   Use Schedule SE (Form 1040), Form 1040-SS, or Form 1040-PR, as determined above, to figure your correct amount of self-employment tax. 2012 1040 ez tax form   For other reporting requirements, see Chapter 11 Bankruptcy Cases in the Instructions for Form 1040. 2012 1040 ez tax form Additional Medicare Tax Beginning in 2013, a 0. 2012 1040 ez tax form 9% Additional Medicare Tax applies to Medicare wages, railroad retirement (RRTA) compensation, and self-employment income that are more than: $125,000 if married filing separately, $250,000 if married filing jointly, or $200,000 if single, head of household, or qualifying widow(er). 2012 1040 ez tax form Medicare wages and self-employment income are combined to determine if income exceeds the threshold. 2012 1040 ez tax form A self-employment loss should not be considered for purposes of this tax. 2012 1040 ez tax form RRTA compensation should be separately compared to the threshold. 2012 1040 ez tax form Your employer is responsible for withholding the 0. 2012 1040 ez tax form 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000. 2012 1040 ez tax form You should consider this withholding, if applicable, in determining whether you need to make estimated tax payments. 2012 1040 ez tax form There are no special rules for U. 2012 1040 ez tax form S. 2012 1040 ez tax form citizens and nonresident aliens living abroad for purposes of this provision. 2012 1040 ez tax form Wages, RRTA compensation, and self-employment income that are subject to Medicare tax will also be subject to Additional Medicare Tax if in excess of the applicable threshold. 2012 1040 ez tax form For more information, see Form 8959, Additional Medicare Tax, and its instructions or visit www. 2012 1040 ez tax form irs. 2012 1040 ez tax form gov and enter the following words in the search box: Additional Medicare Tax. 2012 1040 ez tax form You cannot include the Additional Medicare Tax as a deductible part of your self-employment tax. 2012 1040 ez tax form Net Investment Income Tax Beginning in 2013, the Net Investment Income Tax (NIIT) imposes a 3. 2012 1040 ez tax form 8% tax on the lesser of an individual’s net investment income or the excess of the individual’s modified adjusted gross income over a specified threshold amount. 2012 1040 ez tax form Bona fide residents of Puerto Rico and American Samoa who may have a federal income tax return filing obligation may be liable for the NIIT if the taxpayer’s modified adjusted gross income from non-territory sources exceeds a specified threshold amount. 2012 1040 ez tax form The NIIT does not apply to any individual who is a nonresident alien with respect to the United States. 2012 1040 ez tax form Bona fide residents must take into account any additional tax liability associated with the NIIT when calculating your estimated tax payments. 2012 1040 ez tax form Forms to file. 2012 1040 ez tax form   If you are a bona fide resident of American Samoa and Puerto Rico and you are required to pay the NIIT, you must file Form 1040 with the United States and attach Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts. 2012 1040 ez tax form For more information, see Form 8960 and its instructions. 2012 1040 ez tax form Paying Your Taxes You may find that not all of your income tax has been paid through withholding by either the United States or the possession. 2012 1040 ez tax form This is often true if you have income that is not subject to withholding, such as self-employment, interest, or rental income. 2012 1040 ez tax form In this situation, you may need to make estimated tax payments. 2012 1040 ez tax form Estimated Tax If your estimated income tax obligation is to the United States, use the worksheet in the Form 1040-ES package to figure your estimated tax, including self-employment tax. 2012 1040 ez tax form Include the Additional Medicare Tax and Net Investment Income Tax if applicable. 2012 1040 ez tax form If you are paying by check or money order, use the payment vouchers in the Form 1040-ES package. 2012 1040 ez tax form Or, you can make your payments electronically and not have to file any paper forms. 2012 1040 ez tax form See the Form 1040-ES instructions for information on making payments. 2012 1040 ez tax form Double Taxation Mutual agreement procedures exist to settle issues where there is inconsistent tax treatment between the IRS and the taxing authorities of the following possessions. 2012 1040 ez tax form American Samoa. 2012 1040 ez tax form The Commonwealth of Puerto Rico. 2012 1040 ez tax form The Commonwealth of the Northern Mariana Islands. 2012 1040 ez tax form Guam. 2012 1040 ez tax form The U. 2012 1040 ez tax form S. 2012 1040 ez tax form Virgin Islands. 2012 1040 ez tax form These issues usually involve allocations of income, deductions, credits, or allowances between related persons; determinations of residency; and determinations of the source of income and related expenses. 2012 1040 ez tax form Competent Authority Assistance The tax coordination agreements between the United States and the possession tax departments contain provisions allowing the competent authorities of the United States and the relevant possession to resolve, by mutual agreement, inconsistent tax treatment by the two jurisdictions. 2012 1040 ez tax form How to make your request. 2012 1040 ez tax form   Your request for competent authority assistance must include all the information listed in Revenue Procedure 2006-23, 2006-20 I. 2012 1040 ez tax form R. 2012 1040 ez tax form B. 2012 1040 ez tax form 900 available at www. 2012 1040 ez tax form irs. 2012 1040 ez tax form gov/pub/irs-irbs/irb06-49. 2012 1040 ez tax form pdf. 2012 1040 ez tax form    Also, see Notice 2013-78, which provides proposed updates to the procedures for requesting U. 2012 1040 ez tax form S. 2012 1040 ez tax form competent authority assistance under tax treaties. 2012 1040 ez tax form As noted, an update to Revenue Procedure 2006-23 will be published in the future. 2012 1040 ez tax form   Your request must be in the form of a letter addressed to the Deputy Commissioner (International) LB&I. 2012 1040 ez tax form It must contain a statement that competent authority assistance is requested under the mutual agreement procedure with the possession. 2012 1040 ez tax form You (or a person having authority to sign your federal return) must sign and date the request. 2012 1040 ez tax form    Send your written request for U. 2012 1040 ez tax form S. 2012 1040 ez tax form assistance under this procedure to:   Deputy Commissioner (International) Large Business and International Division Internal Revenue Service 1111 Constitution Avenue, N. 2012 1040 ez tax form W. 2012 1040 ez tax form  Routing: M4-365 Washington, DC 20224 (Attention: TAIT) Nonresident aliens generally must present their initial request for assistance to the relevant possession tax agency. 2012 1040 ez tax form Credit or Refund In addition to the tax assistance request, if you seek a credit or refund of any overpayment of U. 2012 1040 ez tax form S. 2012 1040 ez tax form tax paid on the income in question, you should file a claim on Form 1040X, Amended U. 2012 1040 ez tax form S. 2012 1040 ez tax form Individual Income Tax Return. 2012 1040 ez tax form Indicate on the form that a request for assistance under the mutual agreement procedure with the possession has been filed. 2012 1040 ez tax form Attach a copy of the request to the form. 2012 1040 ez tax form Also, you should take whatever steps must be taken under the possession tax code to prevent the expiration of the statutory period for filing a claim for credit or refund of a possession tax. 2012 1040 ez tax form See Revenue Procedure 2006-54 (or its successor), section 9, for complete information. 2012 1040 ez tax form Prev  Up  Next   Home   More Online Publications