Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

2012 State Tax

How To Amend Taxes With TurbotaxIncome Tax Return 2014Past Year TaxesVita Income Tax Bakersfield CaIrs E FileForm 1040ez BookletTax Compliance SoftwareFile 2011 Tax Returns2014 Federal Tax Forms 1040ezFree E File 2012 TaxesInstruction Booklet For 1040x2012 Federal Tax FormTaxes For MilitaryWhere To File Free State Tax ReturnForm 1040x ExampleThere Previous Years Tax Software That FreeFile Free State Taxes Only1040ez E-fileFiling Income Tax For 2012Free File 1040ezFile A 1040x2010 Irs Form 1040ezFile Federal And State Taxes FreeFiling Late Taxes2011 Irs 1040ez FormTax Form EzDownload 2011 Tax FormsFree Online Tax 20102012 Tax Forms 1040Amendment 1040x1040ez 2012 InstructionsWww Myfreetaxes ComFiling 2012 Taxes In 20131040ez Instructions 2013H&r Block Tax FilingTaxact 2011 Returning UserFreefile TaxesFile 2014 TaxesH&r Block Taxcut OnlineTurbotax 2011 Sign

2012 State Tax

2012 state tax Publication 575 - Additional Material Table of Contents Worksheet A. 2012 state tax Simplified Method 1. 2012 state tax Enter the total pension or annuity payments received this year. 2012 state tax Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. 2012 state tax   2. 2012 state tax Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion. 2012 state tax * See Cost (Investment in the Contract) , earlier 2. 2012 state tax   Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). 2012 state tax Otherwise, go to line 3. 2012 state tax   3. 2012 state tax Enter the appropriate number from Table 1 below. 2012 state tax But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. 2012 state tax 3. 2012 state tax   4. 2012 state tax Divide line 2 by the number on line 3 4. 2012 state tax   5. 2012 state tax Multiply line 4 by the number of months for which this year's payments were made. 2012 state tax If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. 2012 state tax Otherwise, go to line 6 5. 2012 state tax   6. 2012 state tax Enter any amounts previously recovered tax free in years after 1986. 2012 state tax This is the amount shown on line 10 of your worksheet for last year 6. 2012 state tax   7. 2012 state tax Subtract line 6 from line 2 7. 2012 state tax   8. 2012 state tax Enter the smaller of line 5 or line 7 8. 2012 state tax   9. 2012 state tax Taxable amount for year. 2012 state tax Subtract line 8 from line 1. 2012 state tax Enter the result, but not less than zero. 2012 state tax Also, add this amount to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 2012 state tax  Note: If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. 2012 state tax If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers , earlier, before entering an amount on your tax return 9. 2012 state tax   10. 2012 state tax Was your annuity starting date before 1987? □ Yes. 2012 state tax STOP. 2012 state tax Do not complete the rest of this worksheet. 2012 state tax  □ No. 2012 state tax Add lines 6 and 8. 2012 state tax This is the amount you have recovered tax free through 2013. 2012 state tax You will need this number if you need to fill out this worksheet next year 10. 2012 state tax   11. 2012 state tax Balance of cost to be recovered. 2012 state tax Subtract line 10 from line 2. 2012 state tax If zero, you will not have to complete this worksheet next year. 2012 state tax The payments you receive next year will generally be fully taxable 11. 2012 state tax   * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. 2012 state tax Table 1 for Line 3 Above   IF the age at  annuity starting date was . 2012 state tax . 2012 state tax . 2012 state tax         AND your annuity starting date was—     BEFORE November 19, 1996,  enter on line 3 . 2012 state tax . 2012 state tax . 2012 state tax AFTER November 18, 1996,  enter on line 3 . 2012 state tax . 2012 state tax . 2012 state tax   55 or under 300 360   56-60 260 310   61-65 240 260   66-70 170 210   71 or over 120 160 Table 2 for Line 3 Above   IF the combined ages at annuity starting date were . 2012 state tax . 2012 state tax . 2012 state tax   THEN enter on line 3 . 2012 state tax . 2012 state tax . 2012 state tax         110 or under   410         111-120   360         121-130   310         131-140   260         141 or over   210       Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Understanding your CP153 Notice

We can't provide you with your refund through a direct deposit, so we're sending you a refund check/credit payment by mail.

Tax publications you may find useful

How to get help

Calling the toll free number listed on the top right corner of your notice is the fastest way to get your questions answered.

You can also authorize someone (such as an accountant) to contact the IRS on your behalf using this Power of Attorney and Declaration of Representative (Form 2848).
 


What you need to do

Your refund should arrive in three to four weeks from the date of your notice. Please call the number listed on your notice if you haven't received your refund check after four weeks.


Answers to Common Questions

Why can't the IRS send me a direct deposit refund for my return from two years ago?
A Direct deposit refund is only available for this year's return. We mail refund checks for returns from earlier years.

What do I need to do next year to get my refund through a direct deposit?
Complete a Form 8050, Direct Deposit of Corporate Tax Refund and attach it to your return next year when you file your Form 1120, U.S. Corporation Income Tax Return, or your Form 1120S, U.S. Income Tax Return for an S Corporation.

Complete the requested banking information in the "Direct Deposit" section of your tax form the next time you file a Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds.


Tips for next year

Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions that you may qualify for. In many cases you can file for free. Learn more about e-file.

Page Last Reviewed or Updated: 26-Mar-2014

The 2012 State Tax

2012 state tax 7. 2012 state tax   Figuring Gross Profit Table of Contents Introduction Items To Check Testing Gross Profit AccuracyExample. 2012 state tax Additions to Gross Profit Introduction After you have figured the gross receipts from your business (chapter 5) and the cost of goods sold (chapter 6), you are ready to figure your gross profit. 2012 state tax You must determine gross profit before you can deduct any business expenses. 2012 state tax These expenses are discussed in chapter 8. 2012 state tax If you are filing Schedule C-EZ, your gross profit is your gross receipts plus certain other amounts, explained later under Additions to Gross Profit. 2012 state tax Businesses that sell products. 2012 state tax   If you are filing Schedule C, figure your gross profit by first figuring your net receipts. 2012 state tax Figure net receipts (line 3) on Schedule C by subtracting any returns and allowances (line 2) from gross receipts (line 1). 2012 state tax Returns and allowances include cash or credit refunds you make to customers, rebates, and other allowances off the actual sales price. 2012 state tax   Next, subtract the cost of goods sold (line 4) from net receipts (line 3). 2012 state tax The result is the gross profit from your business. 2012 state tax Businesses that sell services. 2012 state tax   You do not have to figure the cost of goods sold if the sale of merchandise is not an income-producing factor for your business. 2012 state tax Your gross profit is the same as your net receipts (gross receipts minus any refunds, rebates, or other allowances). 2012 state tax Most professions and businesses that sell services rather than products can figure gross profit directly from net receipts in this way. 2012 state tax Illustration. 2012 state tax   This illustration of the gross profit section of the income statement of a retail business shows how gross profit is figured. 2012 state tax Income Statement Year Ended December 31, 2013 Gross receipts $400,000 Minus: Returns and allowances 14,940 Net receipts $385,060 Minus: Cost of goods sold 288,140 Gross profit $96,920   The cost of goods sold for this business is figured as follows: Inventory at beginning of year $37,845 Plus: Purchases $285,900   Minus: Items withdrawn for personal use 2,650 283,250 Goods available for sale $321,095 Minus: Inventory at end of year 32,955 Cost of goods sold $288,140 Items To Check Consider the following items before figuring your gross profit. 2012 state tax Gross receipts. 2012 state tax   At the end of each business day, make sure your records balance with your actual cash and credit receipts for the day. 2012 state tax You may find it helpful to use cash registers to keep track of receipts. 2012 state tax You should also use a proper invoicing system and keep a separate bank account for your business. 2012 state tax Sales tax collected. 2012 state tax   Check to make sure your records show the correct sales tax collected. 2012 state tax   If you collect state and local sales taxes imposed on you as the seller of goods or services from the buyer, you must include the amount collected in gross receipts. 2012 state tax   If you are required to collect state and local taxes imposed on the buyer and turn them over to state or local governments, you generally do not include these amounts in income. 2012 state tax Inventory at beginning of year. 2012 state tax   Compare this figure with last year's ending inventory. 2012 state tax The two amounts should usually be the same. 2012 state tax Purchases. 2012 state tax   If you take any inventory items for your personal use (use them yourself, provide them to your family, or give them as personal gifts, etc. 2012 state tax ) be sure to remove them from the cost of goods sold. 2012 state tax For details on how to adjust cost of goods sold, see Merchandise withdrawn from sale in chapter 6. 2012 state tax Inventory at end of year. 2012 state tax   Check to make sure your procedures for taking inventory are adequate. 2012 state tax These procedures should ensure all items have been included in inventory and proper pricing techniques have been used. 2012 state tax   Use inventory forms and adding machine tapes as the only evidence for your inventory. 2012 state tax Inventory forms are available at office supply stores. 2012 state tax These forms have columns for recording the description, quantity, unit price, and value of each inventory item. 2012 state tax Each page has space to record who made the physical count, who priced the items, who made the extensions, and who proofread the calculations. 2012 state tax These forms will help satisfy you that the total inventory is accurate. 2012 state tax They will also provide you with a permanent record to support its validity. 2012 state tax   Inventories are discussed in chapter 2. 2012 state tax Testing Gross Profit Accuracy If you are in a retail or wholesale business, you can check the accuracy of your gross profit figure. 2012 state tax First, divide gross profit by net receipts. 2012 state tax The resulting percentage measures the average spread between the merchandise cost of goods sold and the selling price. 2012 state tax Next, compare this percentage to your markup policy. 2012 state tax Little or no difference between these two percentages shows that your gross profit figure is accurate. 2012 state tax A large difference between these percentages may show that you did not accurately figure sales, purchases, inventory, or other items of cost. 2012 state tax You should determine the reason for the difference. 2012 state tax Example. 2012 state tax   Joe Able operates a retail business. 2012 state tax On the average, he marks up his merchandise so that he will realize a gross profit of 331/3% on its sales. 2012 state tax The net receipts (gross receipts minus returns and allowances) shown on his income statement is $300,000. 2012 state tax His cost of goods sold is $200,000. 2012 state tax This results in a gross profit of $100,000 ($300,000 − $200,000). 2012 state tax To test the accuracy of this year's results, Joe divides gross profit ($100,000) by net receipts ($300,000). 2012 state tax The resulting 331/3% confirms his markup percentage of 331/3%. 2012 state tax Additions to Gross Profit If your business has income from a source other than its regular business operations, enter the income on line 6 of Schedule C and add it to gross profit. 2012 state tax The result is gross business income. 2012 state tax If you use Schedule C-EZ, include the income on line 1 of the schedule. 2012 state tax Some examples include income from an interest-bearing checking account, income from scrap sales, income from certain fuel tax credits and refunds, and amounts recovered from bad debts. 2012 state tax Prev  Up  Next   Home   More Online Publications