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2012 Tax File

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2012 Tax File

2012 tax file 14. 2012 tax file   Venta de Bienes Table of Contents Recordatorio Introduction Useful Items - You may want to see: Ventas y CanjesQué es una Venta o Canje Cómo Calcular Pérdidas o Ganancias Canjes no Sujetos a Impuestos Traspasos entre Cónyuges Transacciones entre Partes Vinculadas Pérdidas y Ganancias de CapitalPérdidas o Ganancias Ordinarias o de Capital Bienes de Capital y Bienes que no Son de Capital Período de Tenencia Deudas Incobrables no Empresariales Ventas Ficticias Reinversiones de Ganancia de Valores Cotizados en Bolsa Recordatorio Ingresos del extranjero. 2012 tax file  Si es ciudadano de los EE. 2012 tax file UU. 2012 tax file y vende propiedad ubicada fuera de los Estados Unidos, tiene que declarar todas las ganancias y pérdidas provenientes de la venta de dicha propiedad en su declaración de impuestos, a menos que esté exenta conforme a las leyes de los Estados Unidos. 2012 tax file Este es el caso independientemente de si vive en o fuera de los Estados Unidos e independientemente de si recibe o no un Formulario 1099 del pagador. 2012 tax file Introduction Este capítulo trata sobre las consecuencias tributarias de vender o canjear bienes de inversión. 2012 tax file Entre los temas que se explican, se encuentran: Qué es una venta o canje. 2012 tax file Cómo calcular una ganancia o pérdida. 2012 tax file Canjes no sujetos a impuestos. 2012 tax file Transacciones entre partes vinculadas. 2012 tax file Pérdidas o ganancias de capital. 2012 tax file Bienes de capital y bienes que no son de capital. 2012 tax file Período de tenencia. 2012 tax file Reinversión de la ganancia proveniente de la venta de valores cotizados en bolsa. 2012 tax file Otras transacciones de bienes. 2012 tax file   Algunos traspasos de bienes no se tratan aquí. 2012 tax file Éstos se explican en otras publicaciones del IRS. 2012 tax file Dichas transacciones incluyen: La venta de una vivienda principal, que se explica en el capítulo 15. 2012 tax file Las ventas a plazos, las cuales se explican en la Publicación 537, Installment Sales (Ventas a plazo), en inglés. 2012 tax file Las transacciones que incluyen propiedades comerciales, las cuales se explican en la Publicación 544, Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de bienes), en inglés. 2012 tax file Las enajenaciones de una participación en una actividad pasiva, las cuales se explican en la Publicación 925, Passive Activity and At-Risk Rules (Actividad pasiva y las reglas sobre el monto de riesgo), en inglés. 2012 tax file    La Publicación 550, Investment Income and Expenses (Including Capital Gains and Losses) (Ingresos y gastos de inversión (incluidas ganancias y pérdidas de capital)), en inglés, provee información más detallada acerca de las ventas y canjes de bienes de inversión. 2012 tax file La Publicación 550 incluye información acerca de las reglas sobre deudas incobrables no empresariales, combinación de contratos de opción de compra y venta, contratos conforme a la sección 1256, contratos de opción de compra y venta, futuros de productos básicos, ventas en descubierto y ventas ficticias. 2012 tax file También trata sobre los gastos relacionados con las inversiones. 2012 tax file Useful Items - You may want to see: Publicación 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés Formulario (e Instrucciones) Anexo D (Formulario 1040) Capital Gains and Losses (Ganancias y pérdidas de capital), en inglés 8949 Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de activos de capital), en inglés 8824 Like-Kind Exchanges (Intercambios de bienes del mismo tipo), en inglés Ventas y Canjes Si durante el año vendió bienes como acciones, bonos o ciertos productos básicos a través de un agente corredor bursátil, por cada venta, éste debería entregarle el Formulario 1099-B, Proceeds From Broker and Barter Exchange Transactions (Ganancias de transacciones de agentes de bolsa y trueque), en inglés, o un documento sustitutivo. 2012 tax file Por lo general, debería recibir el documento a más tardar el 15 de febrero del año siguiente. 2012 tax file Este documento mostrará las ganancias brutas de la venta. 2012 tax file Si usted vendió un valor bursátil amparado en el año 2013, la base de éste se indicará en su Formulario 1099-B (o documento sustitutivo). 2012 tax file Por lo general, un valor bursátil amparado es un valor bursátil que usted adquirió después de 2010 con ciertas excepciones. 2012 tax file Vea las Instrucciones para el Formulario 8949, en inglés. 2012 tax file El corredor le entregará al IRS una copia del Formulario 1099-B. 2012 tax file Use el Formulario 1099-B (o documento sustitutivo que le haya entregado el agente) para completar el Formulario 8949. 2012 tax file Qué es una Venta o Canje En esta sección se explica qué es una venta o canje. 2012 tax file También se explican ciertas transacciones y ciertos acontecimientos que se tratan como ventas o canjes. 2012 tax file Normalmente, una “venta” es el traspaso de bienes por dinero o hipoteca, pagaré u otra promesa de pago. 2012 tax file Un “canje” es el traspaso de bienes por otros bienes o servicios y se pueden imponer impuestos del mismo modo que una venta. 2012 tax file Compra y venta. 2012 tax file   Normalmente, una transacción no es un canje cuando vende voluntariamente bienes a cambio de efectivo e inmediatamente compra bienes similares para reponerlos. 2012 tax file La venta y compra son dos transacciones separadas. 2012 tax file No obstante, consulte Intercambios de bienes del mismo tipo bajo Canjes no Sujetos a Impuestos, más adelante. 2012 tax file Redención de acciones. 2012 tax file   Una redención de acciones se considera una venta o canje y está sujeta a las disposiciones de pérdidas o ganancias de capital a menos que la misma sea un dividendo u otra distribución de acciones. 2012 tax file Dividendo versus venta o canje. 2012 tax file   Una redención se trata como venta, canje, dividendo u otra distribución dependiendo de las circunstancias de cada caso. 2012 tax file Se tendrá en cuenta tanto la titularidad directa como la titularidad indirecta de la cartera de acciones. 2012 tax file La redención se considera una venta o canje de acciones si: La redención no es esencialmente equivalente a un dividendo (consulte el capítulo 8); Existe una redención de acciones muy desproporcionada; Existe una redención total de todas las acciones de la sociedad anónima que posee el accionista o Esta redención es una distribución en la liquidación parcial de una sociedad anónima. 2012 tax file Redención o cancelación de bonos. 2012 tax file   Normalmente, una redención o cancelación de bonos o pagarés al vencimiento se considera venta o canje. 2012 tax file   Además, una modificación significativa de un bono se trata como un canje del bono original por uno nuevo. 2012 tax file Para más información, vea la sección 1. 2012 tax file 1001-3 del Reglamento. 2012 tax file Rescate de acciones. 2012 tax file   El rescate de acciones efectuado por un accionista predominante que retiene la titularidad de más de la mitad de las acciones con derecho de voto pertenecientes a la sociedad anónima se considera una aportación al capital y no una pérdida inmediata deducible del ingreso sujeto a impuestos. 2012 tax file El accionista rescatante tiene que reasignar su base de las acciones rescatadas a las acciones que retuvo. 2012 tax file Valores bursátiles sin valor. 2012 tax file    Todas las acciones, los derechos de suscripción y bonos (que no sean aquéllos para la venta por un agente de valores) que perdieron por completo su valor durante el año tributario se considerarán vendidos el último día del año tributario. 2012 tax file Esto es aplicable si su pérdida de capital es de largo o corto plazo. 2012 tax file Consulte Período de Tenencia , más adelante. 2012 tax file   Los valores bursátiles sin valor incluyen también aquéllos abandonados después del 12 de marzo de 2008. 2012 tax file Para abandonar valores, tiene que renunciar permanentemente a todo derecho a los mismos sin recibir compensación alguna a cambio de éstos. 2012 tax file Todos los hechos y circunstancias determinan si la transacción se caracteriza correctamente como abandono u otro tipo de transacción, como una venta o intercambio, aportación al capital, dividendo o regalo. 2012 tax file    Si es contribuyente que usa el método de efectivo y realiza los pagos con un pagaré negociable que emitió para acciones que luego perdieron su valor, puede deducir estos pagos como pérdidas en los años en que realmente hizo los pagos. 2012 tax file No los deduzca en el año en que las acciones perdieron su valor. 2012 tax file Cómo declarar pérdidas. 2012 tax file    Declare los valores bursátiles sin valor en la Parte I o en la Parte II del Formulario 8949, según corresponda. 2012 tax file En la columna (a), anote “Worthless” (Sin valor). 2012 tax file Declare las transacciones de valores bursátiles sin valor en el Formulario 8949. 2012 tax file Marque el recuadro apropiado que corresponda a la clase de transacción. 2012 tax file Vea el Formulario 8949 y las Instrucciones para el Formulario 8949, en inglés. 2012 tax file Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), Capital Gains and Losses (Ganancias y pérdidas de capital), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. 2012 tax file Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. 2012 tax file Cómo reclamar un reembolso. 2012 tax file   Si no reclama una pérdida de valores bursátiles sin valor en la declaración original del año en que perdieron su valor, puede reclamar un crédito o reembolso por pérdidas. 2012 tax file Tiene que usar el Formulario 1040X, Amended U. 2012 tax file S. 2012 tax file Individual Income Tax Return (Declaración enmendada del impuesto federal estadounidense sobre los ingresos personales), en inglés, para enmendar la declaración del año en que sus valores perdieron valor. 2012 tax file Tiene que presentar la declaración dentro de los 7 años a partir de la fecha en la que tenía que presentar su declaración original para ese año, o bien dentro de un plazo de 2 años a partir de la fecha en que pagó el impuesto, lo que suceda más tarde. 2012 tax file Para obtener más información acerca de cómo presentar una reclamación, consulte Declaraciones Enmendadas y Reclamaciones de Reembolso en el capítulo 1. 2012 tax file Cómo Calcular Pérdidas o Ganancias Calcule las pérdidas o ganancias en una venta o canje de bienes comparando la cantidad recibida con la base ajustada de los bienes. 2012 tax file Ganancia. 2012 tax file   Si la cantidad que recibe de una venta o canje es mayor que la base ajustada de los bienes que traspasa, la diferencia es una ganancia. 2012 tax file Pérdida. 2012 tax file   Si la base ajustada de los bienes que traspasa es mayor que la cantidad que recibe, la diferencia es una pérdida. 2012 tax file Base ajustada. 2012 tax file   La base ajustada de los bienes es su costo original u otra base original ajustada correctamente (aumentada o disminuida) para ciertos conceptos. 2012 tax file Consulte el capítulo 13 para obtener más información acerca de cómo determinar la base ajustada de bienes. 2012 tax file Cantidad recibida. 2012 tax file   La cantidad que recibe de la venta o canje de bienes es todo lo que recibe por dichos bienes menos los gastos relacionados con la venta (cargos por redención, comisiones de ventas, gastos de ventas o exit fees (gastos por rescate anticipado de una inversión colocada en un fondo)). 2012 tax file La cantidad recibida incluye el dinero que recibe, más el valor justo de mercado de los bienes o servicios que recibe. 2012 tax file Si recibe un pagaré u otro instrumento de deuda por dichos bienes, para calcular la cantidad recibida, consulte How To Figure Gain or Loss (Cómo calcular las pérdidas o ganancias) en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Si financia la compra que hace el comprador de sus bienes (los de usted) y el instrumento de deuda no abarca los suficientes intereses establecidos, los intereses no establecidos que tiene que declarar como ingreso ordinario disminuirán la cantidad recibida de la venta. 2012 tax file Consulte la Publicación 537, en inglés, para obtener más información. 2012 tax file Valor justo de mercado. 2012 tax file   El valor justo de mercado es el precio que tienen los bienes al cambiar de dueño entre un comprador y un vendedor, sin que ninguno sea forzado a comprar o vender y teniendo ambos conocimiento razonable de todo hecho pertinente. 2012 tax file Ejemplo. 2012 tax file Usted canjea acciones de la Compañía A con una base ajustada de $7,000 por acciones de la Compañía B con un valor justo de mercado de $10,000, que es la cantidad que recibe. 2012 tax file Su ganancia es $3,000 ($10,000 − $7,000). 2012 tax file Deuda pagada por completo. 2012 tax file    Una deuda sobre los bienes, o en contra de usted, que se haya pagado por completo como parte de la transacción o que el comprador asuma, se tiene que incluir en la cantidad recibida. 2012 tax file Esto es aplicable aun si ni usted ni el comprador son personalmente responsables de la deuda. 2012 tax file Por ejemplo, si vende o canjea bienes que estén sujetos a un préstamo sin recurso, la cantidad que reciba generalmente incluye la cantidad total del pagaré asumido por el comprador, aun si la cantidad del pagaré es mayor que el valor justo de mercado de los bienes. 2012 tax file Ejemplo. 2012 tax file Usted vende acciones que ha dado en garantía para un préstamo bancario de $8,000. 2012 tax file Su base en las acciones es $6,000. 2012 tax file El comprador paga la totalidad de su préstamo bancario y le paga a usted $20,000 en efectivo. 2012 tax file La cantidad recibida es $28,000 ($20,000 + $8,000). 2012 tax file Su ganancia es $22,000 ($28,000 − $6,000). 2012 tax file Pago de efectivo. 2012 tax file   Si canjea bienes y efectivo por otros bienes, la cantidad que reciba es el valor justo de mercado de los bienes que reciba. 2012 tax file Determine sus pérdidas o ganancias restando el efectivo que pague más la base ajustada de los bienes que intercambie de la cantidad que reciba. 2012 tax file Si el resultado es un número positivo, es una ganancia. 2012 tax file Si el resultado es un número negativo, es una pérdida. 2012 tax file Sin pérdidas ni ganancias. 2012 tax file   Tal vez tenga que usar una base para calcular las ganancias distinta a la base para calcular las pérdidas. 2012 tax file En este caso, puede que no tenga ni ganancias ni pérdidas. 2012 tax file Consulte Base Distinta al Costo en el capítulo 13. 2012 tax file Canjes no Sujetos a Impuestos Esta sección trata sobre los canjes que no suelen generar una ganancia sujeta a impuestos o pérdida deducible. 2012 tax file Para obtener más información acerca de los canjes no sujetos a impuestos, consulte el capítulo 1 de la Publicación 544, en inglés. 2012 tax file Intercambio de bienes del mismo tipo. 2012 tax file   Si canjea bienes comerciales o de inversión por otros bienes comerciales o de inversión de un mismo tipo, no paga impuestos sobre las ganancias ni deduce pérdidas hasta que venda o enajene el bien que reciba. 2012 tax file Para estar exento de impuestos, el canje tiene que satisfacer las seis condiciones siguientes: Los bienes tienen que ser comerciales o de inversión. 2012 tax file Tiene que ser dueño de los bienes que canjea y los que recibe para fines de uso productivo en su ocupación o negocio o para inversión. 2012 tax file Ninguno de los bienes se puede usar para propósitos personales, como por ejemplo su vivienda o automóvil familiar. 2012 tax file Los bienes no pueden ser principalmente para la venta. 2012 tax file Los bienes que canjee y los que reciba no pueden ser bienes que venda a clientes, como mercancías. 2012 tax file Los bienes no pueden ser acciones, bonos, pagarés, derechos de acción, certificados de fideicomiso o derecho de usufructo ni otros valores o evidencia de deudas o intereses, incluidas las participaciones en sociedades colectivas. 2012 tax file Sin embargo, vea Special rules for mutual ditch, reservoir, or irrigation company stock (Reglas especiales para acciones de compañías de zanjas de uso compartido, embalses o represas o de riego) en el capítulo 4 de la Publicación 550 para ver una excepción. 2012 tax file Además, puede tener un canje no sujeto a impuestos de acciones de sociedades anónimas conforme a una regla distinta, como se describe más adelante. 2012 tax file Tiene que canjear bienes del mismo tipo. 2012 tax file El canje de bienes raíces por bienes raíces, o de bienes muebles por bienes muebles similares, es un canje de bienes del mismo tipo. 2012 tax file El canje de un edificio de apartamentos habitacional por un edificio de tienda o de un furgón por una camioneta es un canje de bienes del mismo tipo. 2012 tax file El canje de maquinaria por un edificio de tienda no es un canje de bienes del mismo tipo. 2012 tax file Los bienes raíces ubicados dentro de los Estados Unidos y aquéllos ubicados fuera de los Estados Unidos no son bienes del mismo tipo. 2012 tax file Asimismo, los bienes muebles utilizados predominantemente dentro de los Estados Unidos y los bienes muebles utilizados predominantemente fuera de los Estados Unidos no son bienes del mismo tipo. 2012 tax file Los bienes que se reciben tienen que identificarse por escrito dentro de los 45 días después de la fecha en que haya traspasado los bienes entregados en el canje. 2012 tax file Los bienes que se reciben tienen que recibirse a más tardar para una de las fechas siguientes, la que suceda antes: El día número 180 después de la fecha en que usted traspasó los bienes entregados en el canje o La fecha de vencimiento, incluidas las prórrogas, de su declaración de impuestos del año en que se produzca el traspaso de los bienes entregados en el canje. 2012 tax file   Puede aplicar una regla especial si canjea bienes con una parte vinculada en un intercambio de bienes del mismo tipo. 2012 tax file Consulte Transacciones entre Partes Vinculadas , más adelante en este capítulo. 2012 tax file Además, consulte el capítulo 1 de la Publicación 544, en inglés, para obtener más información acerca de los intercambios de bienes comerciales y de reglas especiales para intercambios con intermediarios calificados o de varios bienes. 2012 tax file Intercambio parcialmente no sujeto a impuestos. 2012 tax file   Si recibe dinero o bienes que no son del mismo tipo además de bienes del mismo tipo, y se cumplen las seis condiciones anteriores, significa que tiene un canje parcialmente no sujeto a impuestos. 2012 tax file Se gravan impuestos sobre las ganancias que obtenga, pero sólo hasta la cantidad de dinero y el valor justo de mercado de los bienes que reciba que no sean del mismo tipo. 2012 tax file No puede deducir una pérdida. 2012 tax file Traspaso de bienes del mismo tipo y de bienes que no son del mismo tipo. 2012 tax file   Si entrega bienes que no son del mismo tipo además de bienes del mismo tipo, tiene que reconocer pérdidas o ganancias en aquéllos que entregue que no sean del mismo tipo. 2012 tax file Las pérdidas o ganancias son la diferencia entre la base ajustada de los bienes que no son del mismo tipo y su valor justo de mercado. 2012 tax file Bienes del mismo tipo y dinero traspasados. 2012 tax file   Si se satisfacen todas las condiciones (1) a (6) que aparecen enumeradas anteriormente, tiene un canje no sujeto a impuestos aun si paga dinero además de los bienes del mismo tipo. 2012 tax file Base de bienes recibidos. 2012 tax file   Para calcular la base de los bienes recibidos, consulte Intercambios no Tributables en el capítulo 13. 2012 tax file Cómo declarar el canje. 2012 tax file   Tiene que declarar el canje de bienes del mismo tipo en el Formulario 8824, Like-Kind Exchanges (Intercambio de bienes del mismo tipo) en inglés. 2012 tax file Si calcula pérdidas o ganancias reconocidas en el Formulario 8824, declárelas en el Anexo D (Formulario 1040) o en el Formulario 4797, Sales of Business Property (Ventas de bienes comerciales), en inglés, según corresponda. 2012 tax file Vea las instrucciones para la línea 22 en las Instrucciones para el Formulario 8824, disponibles en inglés. 2012 tax file   Para obtener más información acerca del uso del Formulario 4797, consulte el capítulo 4 de la Publicación 544, en inglés. 2012 tax file Acciones de sociedades anónimas. 2012 tax file   Los siguientes canjes de acciones de sociedades anónimas generalmente no resultan en una ganancia sujeta a impuestos o pérdida deducible. 2012 tax file Reorganizaciones de sociedades anónimas. 2012 tax file   En algunos casos, una compañía le entregará acciones ordinarias a cambio de acciones preferentes, acciones preferentes a cambio de acciones ordinarias, o bien acciones de una sociedad anónima a cambio de acciones de otra. 2012 tax file Si esto es resultado de una fusión, recapitalización, traspaso a una sociedad anónima controlada, bancarrota (quiebra), división de sociedades anónimas, adquisición de sociedades anónimas u otra reorganización de sociedades anónimas, usted no reconoce pérdidas ni ganancias. 2012 tax file Acciones por acciones de la misma sociedad anónima. 2012 tax file   Puede intercambiar acciones ordinarias por acciones ordinarias o acciones preferentes por acciones preferentes de la misma sociedad anónima sin tener pérdidas ni ganancias reconocidas. 2012 tax file Esto es aplicable en un canje entre dos accionistas y también en un canje entre un accionista y la sociedad anónima. 2012 tax file Acciones y bonos convertibles. 2012 tax file   Normalmente, no tendrá pérdidas ni ganancias reconocidas si convierte bonos en acciones o acciones preferentes en acciones ordinarias de la misma sociedad anónima, según un privilegio de conversión en los términos del bono o del certificado de las acciones preferentes. 2012 tax file Bienes por acciones de una sociedad anónima controlada. 2012 tax file   Si traspasa bienes a una sociedad anónima únicamente a cambio de acciones de esa sociedad anónima, e inmediatamente después del canje usted se queda con el control de la sociedad anónima, normalmente no reconocerá pérdidas ni ganancias. 2012 tax file Esta regla se aplica a personas físicas y a grupos que traspasan bienes a una sociedad anónima. 2012 tax file No es aplicable si la sociedad anónima es una sociedad inversionista. 2012 tax file   Para estos efectos y para estar en control de una sociedad anónima, usted o su grupo de cesionistas tiene que poseer, inmediatamente después del intercambio, por lo menos el 80% del poder total combinado de votos de todas las clases de acciones con derecho a voto y por lo menos el 80% de las acciones en circulación de cada clase de acción sin derecho a voto de la sociedad anónima. 2012 tax file   Si esta disposición es aplicable en su caso, puede tener que tenga que adjuntar a la declaración de impuestos una declaración completa de todo hecho pertinente al intercambio. 2012 tax file Para más detalles, vea la sección 1. 2012 tax file 351-3 del Reglamento. 2012 tax file Información adicional. 2012 tax file   Para obtener más información acerca de los canjes de acciones, consulte Nontaxable Trades (Canjes no sujetos a impuestos) en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Pólizas de seguros y anualidades. 2012 tax file   No tendrá ganancias ni pérdidas reconocidas si el asegurado o pensionista es el mismo en ambos contratos y usted intercambia: Un contrato de seguro de vida por otro contrato de seguro de vida o por un contrato dotal o de anualidad, o por un contrato de cuidados a largo plazo calificado; Un contrato dotal por otro contrato dotal que estipule pagos regulares, a partir de una fecha no posterior a la fecha de inicio conforme al contrato antiguo o por un contrato de anualidad o por un contrato de cuidados a largo plazo calificado; Un contrato de anualidad por otro contrato de anualidad o por un contrato de cuidados a largo plazo calificado o Un contrato de cuidados a largo plazo calificado por un contrato de cuidados a largo plazo calificado. 2012 tax file   Puede que tampoco tenga que reconocer pérdidas ni ganancias en un intercambio de parte de un contrato de anualidad por otro contrato de anualidad. 2012 tax file Para información sobre traspasos completados antes del 24 de octubre de 2011, consulte la Revenue Ruling 2003-76 (Resolución Administrativa Tributaria 2003-76 en el Internal Revenue Bulletin 2003-33 (Boletín de Impuestos Internos 2003-33), en inglés, y la Revenue Procedure 2008-24 (Procedimiento Tributario 2008-24) en el Internal Revenue Bulletin 2008-13 (Boletín de Impuestos Internos 2008-13). 2012 tax file La Resolución Administrativa Tributaria 2003-76 está disponible en www. 2012 tax file irs. 2012 tax file gov/irb/2003-33_IRB/ar11. 2012 tax file html. 2012 tax file El Procedimiento Tributario 2008-24 está disponible en www. 2012 tax file irs. 2012 tax file gov/irb/2008-3_IRB/ar13. 2012 tax file html. 2012 tax file Para información sobre traspasos completados el 24 de octubre de 2011 o después, consulte la Resolución Administrativa Tributaria 2003-76, indicada anteriormente, y el Revenue Procedure 2011-38 (Procedimiento Tributario 2011-38) en el Internal Revenue Bulletin 2011-30 (Boletín de Impuestos Internos 2011-30), en inglés. 2012 tax file El Procedimiento Tributario 2011-38 está disponible en www. 2012 tax file irs. 2012 tax file gov/irb/2011-30_IRB/ar09. 2012 tax file html. 2012 tax file   Para años tributarios que empiezan después del 31 de diciembre de 2010, las cantidades recibidas como una anualidad por un período de 10 años o más o por la vida de una o más personas físicas, conforme a cualquier parte de un contrato de anualidad, contrato dotal o de seguro de vida, son tratadas como un contrato por separado y se consideran anualidades parciales. 2012 tax file Puede empezar a recibir los pagos correspondientes a una parte de una anualidad, contrato dotal o contrato de seguro de vida (anualización), provisto que el período de su distribución sea por 10 años o más, o por la vida de una o más personas físicas. 2012 tax file La inversión en el contrato es asignada entre la parte del contrato cuyas cantidades se reciban como una anualidad y la parte del contrato cuyas cantidades no se reciban como una anualidad. 2012 tax file   Los intercambios de contratos no incluidos en esta lista, como por ejemplo un contrato de anualidad por un contrato de seguro dotal, o bien un contrato de seguro dotal o anualidad por un contrato de seguro de vida, están sujetos a impuestos. 2012 tax file Desmutualización de compañías de seguros de vida. 2012 tax file   Si recibió acciones a cambio de su participación en el patrimonio neto como titular de póliza o pensionista, normalmente no tendrá pérdidas ni ganancias reconocidas. 2012 tax file Consulte Demutualization of Life Insurance Companies (Desmutualización de compañías de seguros de vida) en la Publicación 550, en inglés. 2012 tax file Pagarés o bonos del Tesoro de los Estados Unidos. 2012 tax file   Puede canjear ciertas emisiones de obligación del Tesoro de los Estados Unidos por otras emisiones designadas por el Secretario del Tesoro, sin pérdidas ni ganancias reconocidas en el canje. 2012 tax file Vea información adicional sobre este tema en el tema titulado Savings bonds traded (Cambio de los bonos de ahorro), en el capítulo 1 de la Publicación 550, en inglés. 2012 tax file Traspasos entre Cónyuges En general, no se reconocen las pérdidas ni las ganancias en un traspaso de bienes de una persona física a (o en fideicomiso para el beneficio de) un cónyuge, o en caso de divorcio, a un ex cónyuge. 2012 tax file Esta regla de no reconocimiento no es aplicable en las siguientes situaciones: El cónyuge o ex cónyuge beneficiario es extranjero no residente. 2012 tax file Se traspasan bienes en fideicomiso y la obligación excede de la base. 2012 tax file Las ganancias tienen que ser reconocidas en la medida en que la cantidad de las obligaciones asumidas por el fideicomiso, más las demás obligaciones sobre los bienes, sean mayores que la base ajustada de los mismos. 2012 tax file Para otras situaciones, vea el tema titulado Transfers Between Spouses (Traspasos entre cónyuges), en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file El beneficiario trata todo traspaso de bienes a un cónyuge o ex cónyuge, sobre el cual no se reconocen pérdidas ni ganancias, como un regalo y no se considera venta ni intercambio. 2012 tax file La base del beneficiario en los bienes será la misma que la base ajustada del donante inmediatamente antes del traspaso. 2012 tax file Esta regla de traslado de la base se aplica independientemente de si la base ajustada de bienes traspasados es menor que, igual a, o mayor que el valor justo de mercado al momento del traspaso o menor que, igual a, o mayor que toda compensación pagada por el beneficiario. 2012 tax file Esta regla es aplicable en la determinación de ganancias y pérdidas. 2012 tax file Una ganancia reconocida sobre un traspaso de fideicomiso aumenta la base. 2012 tax file Un traspaso de bienes está relacionado con un divorcio si el traspaso sucede dentro de 1 año después de la fecha en la que termina el matrimonio o si se relaciona con la terminación del matrimonio. 2012 tax file Transacciones entre Partes Vinculadas Hay reglas especiales que son aplicables a la venta o canje de bienes entre partes vinculadas. 2012 tax file Ganancias sobre ventas o canje de bienes depreciables. 2012 tax file   Su ganancia de la venta o canje de bienes a una parte vinculada puede ser ingreso ordinario, y no ganancia de capital, si la parte que recibe los bienes puede depreciarlos. 2012 tax file Para obtener más información, consulte el capítulo 3 de la Publicación 544, en inglés. 2012 tax file Intercambio de bienes del mismo tipo. 2012 tax file   Normalmente, si canjea bienes comerciales o de inversión por otros bienes comerciales o de inversión del mismo tipo, no se reconocen pérdidas ni ganancias. 2012 tax file Consulte Intercambios de bienes del mismo tipo , anteriormente, bajo Canjes no Sujetos a Impuestos. 2012 tax file   Esta regla también es aplicable a los canjes de bienes entre partes vinculadas, lo que se define a continuación en Pérdidas sobre ventas o canjes de bienes . 2012 tax file Sin embargo, si usted o la parte vinculada enajena los bienes del mismo tipo dentro de los 2 años después del canje, ambos tienen que declarar pérdidas o ganancias no reconocidas en el canje original en la declaración presentada para el año en que se produzca la última enajenación. 2012 tax file Las excepciones a esta regla se hallan en el tema titulado Related Party Transactions (Transacciones entre partes vinculadas), en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Pérdidas sobre ventas o canjes de bienes. 2012 tax file   No puede deducir una pérdida sobre la venta o canje de bienes, salvo una distribución de la liquidación completa de una sociedad anónima, si la transacción se hace directa o indirectamente entre usted y las siguientes partes vinculadas: Miembros de su familia. 2012 tax file Incluye únicamente a sus hermanos y hermanas, medios hermanos y medias hermanas, cónyuge, antecesores (padres, abuelos, etc. 2012 tax file ) y descendientes directos (hijos, nietos, etcétera). 2012 tax file Una sociedad colectiva en la que tuvo directa o indirectamente más del 50% de la participación en el capital o en las utilidades. 2012 tax file Una sociedad anónima en la que tuvo directa o indirectamente más del 50% del valor de las acciones en circulación. 2012 tax file Consulte Propiedad implícita de acciones , más adelante. 2012 tax file Una organización caritativa o educativa exenta de impuestos que usted o un miembro de su familia controla directa o indirectamente, de cualquier forma o método, sin importar si este control es ejecutable legalmente. 2012 tax file   Además, no se puede deducir una pérdida sobre la venta o canje de bienes, si la transacción se hace directa o indirectamente entre las siguientes partes vinculadas: Un cesionista y un fiduciario, o el fiduciario y el beneficiario, de cualquier fideicomiso. 2012 tax file Fiduciarios de dos fideicomisos diferentes, o el fiduciario y el beneficiario de dos fideicomisos diferentes, si la misma persona es el cesionista de ambos fideicomisos. 2012 tax file Un fiduciario de fideicomiso y una sociedad anónima en la que más del 50% del valor de las acciones en circulación son de propiedad directa o indirecta del fideicomiso o para el mismo, o bien del cesionista del fideicomiso o para el mismo. 2012 tax file Una sociedad anónima y una sociedad colectiva si las mismas personas poseen más del 50% del valor de las acciones en circulación de la sociedad anónima y más del 50% de participación en el capital o participación en las utilidades de la sociedad colectiva. 2012 tax file Dos sociedades anónimas de tipo S si las mismas personas poseen más del 50% del valor de las acciones en circulación de cada sociedad anónima. 2012 tax file Dos sociedades anónimas, una de las cuales es una sociedad anónima de tipo S, si las mismas personas poseen más del 50% del valor de las acciones en circulación de cada sociedad anónima. 2012 tax file Un albacea y un beneficiario de un caudal hereditario (excepto en el caso de venta o canje para satisfacer una asignación testamentaria pecuniaria). 2012 tax file Dos sociedades anónimas que sean miembros del mismo grupo controlado. 2012 tax file (Sin embargo, en ciertas condiciones estas pérdidas no son denegadas, pero se tienen que diferir). 2012 tax file Dos sociedades colectivas si las mismas personas poseen, directa o indirectamente, más del 50% de la participación en el capital o de las utilidades en ambas sociedades colectivas. 2012 tax file Ventas o canjes de bienes múltiples. 2012 tax file   Si vende a una parte vinculada o canjea con ésta una cantidad de paquetes de acciones o bienes en una suma global, tiene que calcular las pérdidas o ganancias por separado para cada paquete de acciones o bienes. 2012 tax file Es posible que la ganancia por cada artículo pueda estar sujeta a impuestos. 2012 tax file Sin embargo, no puede deducir la pérdida de artículo alguno. 2012 tax file Tampoco puede reducir las ganancias provenientes de la venta de ninguno de estos artículos por las pérdidas provenientes de la venta de ninguno de los demás artículos. 2012 tax file Transacciones indirectas. 2012 tax file   No puede deducir las pérdidas de la venta de acciones a través de su agente si, conforme a un plan dispuesto previamente, una parte vinculada compra las mismas acciones que eran de usted. 2012 tax file Esto no es aplicable a un canje entre partes vinculadas a través de un intercambio que sea absolutamente fortuito y que no haya sido programado con antelación. 2012 tax file Propiedad implícita de acciones. 2012 tax file   Para determinar si una persona posee directa o indirectamente acciones vigentes de una sociedad anónima, se aplican las siguientes reglas: Regla 1. 2012 tax file   Las acciones de propiedad directa o indirecta de o para una sociedad anónima, sociedad colectiva, caudal hereditario o fideicomiso se consideran de propiedad proporcionalmente por o para sus accionistas, socios o beneficiarios. 2012 tax file Regla 2. 2012 tax file   Se considera que una persona es propietaria de las acciones poseídas directa o indirectamente por o para su familia. 2012 tax file La familia incluye únicamente a hermanos y hermanas, medios hermanos y medias hermanas, cónyuge, antecesores y descendientes directos. 2012 tax file Regla 3. 2012 tax file   Se considera que una persona física que sea propietaria de acciones de una sociedad anónima, siempre y cuando no sea mediante la aplicación de la Regla 2, es propietaria de las acciones de las cuales su socio es propietario directo o indirecto. 2012 tax file Regla 4. 2012 tax file   Al aplicar la Regla 1, 2 ó 3, las acciones de las cuales es dueña implícita una persona conforme a la Regla 1 se consideran realmente propiedad de esa persona. 2012 tax file Sin embargo, las acciones de propiedad implícita de una persona bajo la Regla 2 ó 3 no se consideran propiedad de esa persona si se usa nuevamente la Regla 2 ó 3 para hacer que otra persona sea el propietario implícito de dichas acciones. 2012 tax file Bienes recibidos de una parte vinculada. 2012 tax file    Si vende o canjea con ganancia bienes que adquirió de una parte vinculada, usted reconoce la ganancia solamente en la medida en que sea más que la pérdida previamente denegada a la parte vinculada. 2012 tax file Esta regla es aplicable solamente si es cesionario original y adquiere los bienes mediante compra o intercambio. 2012 tax file Esta regla no es aplicable si las pérdidas de la parte vinculada fueron denegadas debido a reglas de las ventas ficticias descritas en el capítulo 4 de la Publicación 550 bajo Wash Sales (Ventas ficticias), en inglés. 2012 tax file   Si vende o canjea con pérdida bienes que adquirió de una parte vinculada, no puede reconocer la pérdida que no fue permisible para la parte vinculada. 2012 tax file Ejemplo 1. 2012 tax file Su hermano le vende acciones por $7,600. 2012 tax file Su base de costo es $10,000. 2012 tax file Su hermano no puede deducir la pérdida de $2,400. 2012 tax file Después, usted vende las mismas acciones a una parte no vinculada por $10,500, obteniendo una ganancia de $2,900. 2012 tax file La ganancia a declarar es $500, es decir, la ganancia de $2,900 menos la pérdida de $2,400 no permitida a su hermano. 2012 tax file Ejemplo 2. 2012 tax file Si en el Ejemplo 1 usted vende las acciones por $6,900 en lugar de $10,500, su pérdida reconocida es solamente $700 (su base de $7,600 menos $6,900). 2012 tax file No puede deducir la pérdida no permitida a su hermano. 2012 tax file Pérdidas y Ganancias de Capital Esta sección explica el trato tributario de las ganancias y pérdidas de diferentes tipos de transacciones de inversiones. 2012 tax file Carácter de las pérdidas o ganancias. 2012 tax file   Debe clasificar sus ganancias y pérdidas como pérdidas o ganancias ordinarias o de capital. 2012 tax file Luego, debe clasificar sus ganancias y pérdidas de capital, ya sea a corto plazo o a largo plazo. 2012 tax file Si tiene ganancias y pérdidas a largo plazo, tiene que identificar las ganancias y pérdidas a una tasa de 28%. 2012 tax file Si tiene ganancias netas de capital, también tiene que identificar toda ganancia no recuperada conforme a la sección 1250. 2012 tax file   La clasificación e identificación correcta le ayuda a calcular el límite sobre las pérdidas de capital y el impuesto correcto sobre las ganancias de capital. 2012 tax file La declaración de las ganancias y pérdidas de capital se explica en el capítulo 16 . 2012 tax file Pérdidas o Ganancias Ordinarias o de Capital Si tiene una ganancia sujeta a impuestos o una pérdida deducible proveniente de una transacción, es posible que sea ganancia o pérdida ordinaria o de capital, dependiendo de las circunstancias. 2012 tax file Normalmente, la venta o canje de bienes de capital (definido a continuación) resulta en una pérdida o ganancia de capital. 2012 tax file La venta o canje de bienes que no son de capital generalmente resulta en una pérdida o ganancia ordinaria. 2012 tax file Según las circunstancias, una pérdida o ganancia sobre la venta o canje de bienes utilizados en su ocupación o negocio puede tratarse como ordinaria o de capital, como se explica en la Publicación 544, en inglés. 2012 tax file En algunas situaciones, parte de las pérdidas o ganancias puede ser pérdida o ganancia de capital y otra parte puede ser pérdida o ganancia ordinaria. 2012 tax file Bienes de Capital y Bienes que no Son de Capital La mayor parte de los bienes que usted posee y usa para fines personales, de placer o inversión constituye bienes de capital. 2012 tax file Ejemplos de éstos incluyen: Acciones o bonos que tenga en su cuenta personal; Una vivienda de la cual usted es dueño y que usan usted y su familia; Mobiliario doméstico; Un automóvil usado para recreación o para trasladarse de su hogar a su trabajo; Colecciones de monedas o estampillas; Gemas y joyas y Oro, plata o cualquier otro metal. 2012 tax file Todo bien que usted posea es bien de capital, a excepción de los siguientes bienes que no son de capital: Los bienes que posee principalmente para la venta a clientes o que físicamente formarán parte de la mercancía para la venta a clientes. 2012 tax file Para una excepción a esta regla, vea Obras Musicales de Creación Propia Tratadas como Bienes de Capital , más adelante. 2012 tax file Bienes depreciables usados en su ocupación o negocio, aun cuando estén completamente depreciados. 2012 tax file Bienes raíces que usa en su ocupación o negocio. 2012 tax file Derechos de autor, composiciones literarias, musicales o artísticas, cartas o memorandos, o bienes similares que sean: Creados con su propio esfuerzo, Preparados o producidos para usted (en el caso de una carta, memorándum o bienes similares) o Adquiridos bajo ciertas circunstancias (por ejemplo, como regalo), dándole a usted derecho a la base de la persona que creó la propiedad o para quien se preparó o se produjo. 2012 tax file Para una excepción a esta regla, vea Obras Musicales de Creación Propia Tratadas como Bienes de Capital , más adelante. 2012 tax file Cuentas o documentos por cobrar adquiridos en el curso normal de su ocupación o negocio por servicios prestados o provenientes de la venta de bienes que se describen en el punto (1). 2012 tax file Publicaciones del Gobierno de los Estados Unidos que recibió del gobierno en forma gratuita o por menos del precio de venta normal, o que compró en circunstancias que le dieron derecho a la base de alguien que recibió las publicaciones en forma gratuita o por menos del precio de venta normal. 2012 tax file Algunos instrumentos financieros derivados de productos básicos mantenidos por revendedores de derivados de productos básicos. 2012 tax file Transacciones de cobertura, pero sólo si la transacción está claramente identificada como transacción de este tipo antes del cierre del día en que se adquirió, se originó o en que usted la firmó. 2012 tax file Suministros del tipo que se usa o consume regularmente en el curso normal de su ocupación o negocio. 2012 tax file Bienes de Inversión Los bienes de inversión son bienes de capital. 2012 tax file Normalmente, una ganancia o pérdida proveniente de su venta o canje es una ganancia o pérdida de capital. 2012 tax file Oro, plata, estampillas, monedas, gemas, etcétera. 2012 tax file   Éstos son bienes de capital, excepto cuando están en posesión de un revendedor con fines de venta. 2012 tax file Normalmente, la pérdida o ganancia que asume de esta venta o canje es una pérdida o ganancia de capital. 2012 tax file Acciones, derechos de suscripción y bonos. 2012 tax file   Todo lo anterior (incluidas las acciones recibidas como dividendo) son bienes de capital, excepto cuando un revendedor de valores los tiene para la venta. 2012 tax file Sin embargo, si posee acciones de un pequeño negocio, consulte Pérdidas en Acciones conforme a la Sección 1244 (Pequeño Negocio) , más adelante, y Losses on Small Business Investment Company Stock (Pérdidas sobre acciones de sociedad inversionista especializada en pequeños negocios), en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Bienes de Uso Personal Los bienes mantenidos sólo para uso personal y no para inversión son bienes de capital y, por lo tanto, tiene que declarar una ganancia procedente de su venta como ganancia de capital. 2012 tax file Sin embargo, no puede deducir una pérdida por la venta de bienes de uso personal. 2012 tax file Obras Musicales de Creación Propia Tratadas como Bienes de Capital Puede optar por tratar las obras musicales y los derechos de autor asociados con obras musicales como bienes de capital al venderlos o intercambiarlos si: Creó dichos bienes por medio de sus propios esfuerzos o Adquirió los bienes bajo condiciones (como regalo, por ejemplo) que le dieron derecho a la base de la persona que creó dichos bienes o de la persona para quien fueron preparados o producidos. 2012 tax file Tiene que elegir una opción distinta para cada obra musical (o derecho de autor asociado con una obra musical) vendida o intercambiada durante el año tributario. 2012 tax file Tiene que elegir la opción en, o antes de, la fecha de vencimiento del plazo de entrega (incluyendo prórrogas) de la declaración de impuestos del año de la venta o intercambio. 2012 tax file Tiene que anotar la opción en el Formulario 8949, considerando la venta o intercambio como venta o intercambio de bienes de capital, conforme al Formulario 8949, el Anexo D (Formulario 1040) y sus instrucciones por separado, en inglés. 2012 tax file Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. 2012 tax file Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. 2012 tax file Puede revocar esta opción si el IRS se lo aprueba. 2012 tax file Para obtener la aprobación del IRS, tiene que enviar una solicitud al IRS para que éste le provea una carta de decisión sobre este asunto tributario conforme al Revenue Procedure (Procedimiento tributario) correspondiente a su situación. 2012 tax file Vea, por ejemplo, el Procedimiento Tributario 2013-1, rectificado por el Anuncio 2013-9, que fue ampliado y modificado a su vez por el Procedimiento Tributario 2013-32, en el Internal Revenue Bulletin (Boletín de Impuestos Internos), en inglés, en www. 2012 tax file irs. 2012 tax file gov/irb/2013-01_IRB/ar06. 2012 tax file html. 2012 tax file Como alternativa, se le otorga una prórroga automática de 6 meses a partir de la fecha de vencimiento del plazo de entrega de su declaración de impuestos sobre el ingreso (excluyendo prórrogas) para revocar la opción, con la condición de que presente a tiempo la declaración de impuestos sobre el ingreso y, durante este plazo de prórroga de 6 meses, presente el Formulario 1040X en el que la venta o intercambio se considere como venta o intercambio de bienes no de capital. 2012 tax file Instrumentos de Deuda Descontados Trate como ganancia o pérdida de capital su pérdida o ganancia de la venta, rescate o retiro de un bono u otro instrumento de deuda originalmente emitido con descuento o comprado con descuento, excepto según se explica a continuación. 2012 tax file Deudas gubernamentales a corto plazo. 2012 tax file   Trate las ganancias sobre las deudas de un gobierno federal, estatal o local a corto plazo (que no sean deudas exentas de impuestos) como ingresos ordinarios hasta su parte proporcional del descuento de adquisición. 2012 tax file Este trato se aplica a deudas que tienen una fecha de vencimiento fija de no más de 1 año a partir de la fecha de emisión. 2012 tax file El descuento de adquisiciones es el precio de rescate establecido al vencimiento menos la base de la deuda. 2012 tax file   Sin embargo, no trate estas ganancias como ingreso en la medida en que haya incluido previamente el descuento en los ingresos. 2012 tax file Consulte Discount on Short-Term Obligations (Descuento sobre deudas a corto plazo) en el capítulo 1 de la Publicación 550, en inglés. 2012 tax file Deudas no gubernamentales a corto plazo. 2012 tax file   Trate las ganancias sobre las deudas no gubernamentales a corto plazo como ingresos ordinarios hasta su parte proporcional del descuento de la emisión original (OID, por sus siglas en inglés). 2012 tax file Este trato se aplica a deudas que tienen una fecha de vencimiento fija de no más de 1 año a partir de la fecha de emisión. 2012 tax file   Sin embargo, no tiene que volver a incluir en los ingresos la parte del descuento que haya incluido previamente en los mismos. 2012 tax file Consulte Discount on Short-Term Obligations (Descuento sobre deudas a corto plazo) en el capítulo 1 de la Publicación 550, en inglés. 2012 tax file Bonos de gobiernos estatales y locales exentos de impuestos. 2012 tax file   Si estos bonos se emitieron originalmente con un descuento antes del 4 de septiembre de 1982, o bien si los adquirió antes del 2 de marzo de 1984, trate su parte del OID como intereses exentos de impuestos. 2012 tax file Para calcular las pérdidas o ganancias por la venta o canje de estos bonos, reste su parte del OID de la cantidad obtenida. 2012 tax file   Si los bonos fueron emitidos después del 3 de septiembre de 1982 y adquiridos después del 1 de marzo de 1984, sume a la base ajustada su parte del OID para calcular la pérdida o ganancia. 2012 tax file Para obtener más información acerca de la base de estos bonos, consulte Discounted Debt Instruments (Instrumentos de deuda descontados) en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file   Normalmente, las ganancias del descuento comercial están sujetas a impuestos sobre la enajenación o rescate de los bonos exentos de impuestos. 2012 tax file Si compró los bonos antes del 1 de mayo de 1993, la ganancia del descuento comercial es una ganancia de capital. 2012 tax file Si compró los bonos después del 30 de abril de 1993, la ganancia constituye ingresos ordinarios. 2012 tax file   Usted calcula el descuento comercial restando el precio que pagó por el bono de la suma del precio original de emisión del bono y la cantidad del OID acumulado desde la fecha de emisión que representó intereses para los accionistas anteriores. 2012 tax file Para obtener más información, consulte Market Discount Bonds (Bonos con descuento en el mercado) en el capítulo 1 de la Publicación 550, en inglés. 2012 tax file    Una pérdida sobre la venta u otra enajenación de bonos de gobiernos estatales o locales exentos de impuestos es deducible como pérdida de capital. 2012 tax file Rescate antes del vencimiento. 2012 tax file   Si un bono local o estatal emitido antes del 9 de junio de 1980 se rescata antes de su vencimiento, entonces el OID no le está sujeto a impuestos a usted. 2012 tax file   Si un bono local o estatal emitido después del 8 de junio de 1980 se rescata antes de su vencimiento, entonces la parte del OID que generó ingresos mientras tuvo el bono no le está sujeto a impuestos a usted. 2012 tax file Sin embargo, tiene que declarar la parte no devengada del OID como ganancia de capital. 2012 tax file Ejemplo. 2012 tax file El 2 de julio de 2002, fecha de emisión, usted compró un bono municipal de 6% a 20 años por $800. 2012 tax file La cantidad nominal del bono fue $1,000. 2012 tax file El descuento de $200 se atribuyó al OID. 2012 tax file En el momento en que se emitió el bono, el emisor no tenía intención de rescatarlo antes de su vencimiento. 2012 tax file El bono fue rescatable en su cantidad nominal después de 10 años de la fecha de emisión. 2012 tax file El emisor rescató el bono al término de 11 años (2 de julio de 2013) por la cantidad nominal de $1,000, más los intereses anuales devengados de $60. 2012 tax file El OID de $73, obtenido durante el tiempo que tuvo el bono, no está sujeto a impuestos. 2012 tax file Los intereses anuales devengados de $60 tampoco están sujetos a impuestos. 2012 tax file Sin embargo, tiene que declarar la parte no devengada del OID ($127) como ganancia de capital. 2012 tax file Instrumentos de deuda a largo plazo emitidos después de 1954 y antes del 28 de mayo de 1969 (o antes del 2 de julio de 1982 si son instrumentos de gobierno). 2012 tax file   Si vende, canjea o rescata para obtener ganancia uno de estos instrumentos de deuda, el ingreso ordinario será la parte de la ganancia que no sea superior a la parte proporcional del OID al momento de la venta o rescate. 2012 tax file El resto de la ganancia es ganancia de capital. 2012 tax file Sin embargo, si hubo intención de rescatar el instrumento de deuda antes de su vencimiento, toda la ganancia que no supere el total del OID se tratará como ingreso ordinario al momento de la venta. 2012 tax file Este trato de ganancia sujeta a impuestos también es aplicable a los instrumentos de sociedades anónimas emitidos después del 27 de mayo de 1969, conforme a un acuerdo escrito vinculante a partir del 27 de mayo de 1969, y en todo momento después de esta fecha. 2012 tax file Instrumentos de deuda a largo plazo emitidos después del 27 de mayo de 1969 (o después del 1 de julio de 1982 si son instrumentos de gobierno). 2012 tax file   Si es dueño de uno de estos instrumentos de deuda, tiene que incluir una parte del OID en su ingreso bruto cada año que posee el instrumento. 2012 tax file Su base de dicho instrumento de deuda aumenta con la cantidad del OID que incluyó en sus ingresos brutos. 2012 tax file Consulte Descuento de la Emisión Original (OID) en el capítulo 7 para obtener información acerca del OID que tiene que declarar en su declaración de impuestos. 2012 tax file   Si vende o canjea el instrumento de deuda antes de su vencimiento, la ganancia que obtiene es ganancia de capital. 2012 tax file Sin embargo, si al momento de la emisión original del instrumento hubo una intención de rescatarlo antes de su vencimiento, normalmente la ganancia es ganancia ordinaria hasta el límite del total del OID menos las cantidades del OID que previamente se incluyeron en sus ingresos. 2012 tax file En este caso, el resto de la ganancia es ganancia de capital. 2012 tax file Bonos con descuento en el mercado. 2012 tax file   Si el instrumento de deuda tiene descuento en el mercado y usted optó por incluir en el ingreso el descuento a medida que se acumulaba, aumente su base en el instrumento de deuda por el descuento acumulado para calcular la pérdida o ganancia de capital sobre la enajenación. 2012 tax file Si optó por no incluir en el ingreso el descuento a medida que se acumulaba, tiene que declarar la ganancia como ingreso ordinario de intereses hasta el monto del descuento comercial acumulado del instrumento. 2012 tax file El resto son ganancias de capital. 2012 tax file Consulte Market Discount Bonds (Bonos de descuento en el mercado) en el capítulo 1 de la Publicación 550, en inglés. 2012 tax file   Se aplica una regla diferente a los bonos con descuento en el mercado emitidos antes del 19 de julio de 1984 y comprados por usted antes del 1 de mayo de 1993. 2012 tax file Consulte Market discount bonds (Bonos de descuento en el mercado) bajo Discounted Debt Instruments (Instrumentos de deuda descontados) en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Redención de instrumento de deuda. 2012 tax file   Las cantidades recibidas por la redención de un instrumento de deuda se tratan del mismo modo que si hubiera vendido o canjeado dicho instrumento. 2012 tax file Pagarés de personas físicas. 2012 tax file   Si mantiene la deuda de una persona física que se emitió con OID después del 1 de marzo de 1984, generalmente tiene que incluir el OID en su ingreso actual, y las pérdidas o ganancias sobre la venta o redención de la deuda son, por lo general, pérdidas o ganancias de capital. 2012 tax file Se aplica una excepción a este caso si la deuda es un préstamo entre personas físicas y se satisfacen los requisitos siguientes: El prestamista no se dedica al negocio de prestar dinero. 2012 tax file La cantidad del préstamo, más la cantidad de los préstamos anteriores pendientes, es $10,000 o menos. 2012 tax file La evasión de impuestos federales no es uno de los principales objetivos del préstamo. 2012 tax file   Si corresponde la excepción, o si la deuda fue emitida antes del 2 de marzo de 1984, usted no incluye el OID en sus ingresos actuales. 2012 tax file Cuando venda o rescate la deuda, la parte de su ganancia que no sea superior a la parte devengada del OID en ese momento es ingreso ordinario. 2012 tax file El resto de la ganancia, si la hay, es ganancia de capital. 2012 tax file Las pérdidas sobre las ventas o rescates son pérdidas de capital. 2012 tax file Depósito en Instituciones Financieras Insolventes o en Quiebra Si pierde dinero que tenga depositado en un banco, cooperativa de crédito u otra institución financiera que ya no es solvente o está en bancarrota, tal vez pueda deducir su pérdida en una de las tres maneras siguientes: Pérdida ordinaria. 2012 tax file Pérdida fortuita. 2012 tax file Deuda incobrable no comercial (pérdida de capital a corto plazo). 2012 tax file  Para más información, vea Deposit in Insolvent or Bankrupt Financial Institution (Depósito en institución financiera insolvente o en quiebra) en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Venta de Anualidad Se considera ingreso ordinario la parte de una ganancia sobre la venta de un contrato de anualidad antes de su fecha de vencimiento y que se basa en los intereses acumulados en el contrato. 2012 tax file Pérdidas en Acciones Conforme a la Sección 1244 (Pequeño Negocio) Usted puede deducir su pérdida proveniente de la venta, canje o falta de valor de acciones conforme a la sección 1244 como una pérdida ordinaria en vez de una pérdida de capital. 2012 tax file Declare la pérdida en la línea 10 del Formulario 4797. 2012 tax file Toda ganancia sobre acciones conforme a la sección 1244 es ganancia de capital si las acciones son bienes de capital en su mano. 2012 tax file Declare la ganancia en el Formulario 8949. 2012 tax file Consulte Losses on Section 1244 (Small Business) Stock (Pérdidas de acciones (de pequeño negocio) conforme a la sección 1244), en el capítulo 4 de la Publicación 550, en inglés. 2012 tax file Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. 2012 tax file Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. 2012 tax file Período de Tenencia Si vendió o canjeó bienes de inversión, tiene que determinar el período de tenencia de los bienes. 2012 tax file Su período de tenencia determina si una pérdida o ganancia de capital fue a corto o largo plazo. 2012 tax file Corto o largo plazo. 2012 tax file   Si mantiene bienes de inversión por más de 1 año, las pérdidas o ganancias de capital son a largo plazo. 2012 tax file Si mantiene bienes por 1 año o menos, las pérdidas o ganancias de capital son a corto plazo. 2012 tax file   Para determinar el tiempo en que tuvo bienes de inversión, empiece a contar a partir del día siguiente a la fecha en que adquirió los bienes. 2012 tax file El día en que enajenó los bienes forma parte del período de tenencia. 2012 tax file Ejemplo. 2012 tax file Si compró bienes de inversión el 6 de febrero de 2012 y los vendió el 6 de febrero de 2013, el período de tenencia no es superior a un 1 año y, por lo tanto, tiene pérdida o ganancia de capital a corto plazo. 2012 tax file Si vendió los bienes el 7 de febrero de 2013, el período de tenencia es superior a un 1 año y, por lo tanto, tiene una pérdida o ganancia de capital a largo plazo. 2012 tax file Valores cotizados en un mercado establecido. 2012 tax file   En lo que respecta a valores cotizados en un mercado de valores establecido, el período de tenencia comienza el día siguiente a la fecha de transacción en que compró los valores y termina en la fecha de transacción en que los vendió. 2012 tax file    No confunda la fecha de transacción con la fecha de liquidación, para la cual es la fecha en que se tienen que entregar las acciones y se tiene que efectuar el pago. 2012 tax file Ejemplo. 2012 tax file Usted es contribuyente con base de método de efectivo y año natural para la presentación de su declaración. 2012 tax file El 30 de diciembre de 2013, vendió acciones con ganancias. 2012 tax file Según las reglas de la bolsa, la venta se cerró con la entrega de las acciones 4 días comerciales después de la venta, el 6 de enero de 2014. 2012 tax file Recibió el pago del valor de la venta el mismo día. 2012 tax file Declare la ganancia en la declaración del año 2013, aunque haya recibido el pago en el año 2014. 2012 tax file La ganancia es a largo o corto plazo dependiendo de si tuvo las acciones más de un año. 2012 tax file Su período de tenencia terminó el 30 de diciembre. 2012 tax file Si hubiera vendido las acciones con pérdidas, también habría declarado las pérdidas en su declaración del año 2013. 2012 tax file Pagarés y bonos del Tesoro de los Estados Unidos. 2012 tax file   El período de tenencia de pagarés y bonos de los EE. 2012 tax file UU. 2012 tax file vendidos en subasta en base a su rendimiento se inicia el día después de que el Secretario del Tesoro, mediante comunicados de prensa, dé notificación a los postores cuyas ofertas hayan sido aceptadas. 2012 tax file El período de tenencia de pagarés y bonos de los EE. 2012 tax file UU. 2012 tax file con rendimiento determinado vendidos en base a suscripciones se inicia el día después de que se presente la suscripción. 2012 tax file Servicio de inversión automático. 2012 tax file   Al determinar el período de tenencia de acciones compradas a través del banco u otro agente, se considera que las acciones enteras se compraron al inicio y las acciones fraccionarias se compraron al final. 2012 tax file El período de tenencia de usted comienza el día siguiente de la fecha de compra del banco. 2012 tax file Si una acción se compró en más de una fecha de compra, el período de tenencia de esa acción es un período de tenencia dividido. 2012 tax file Se considera que se compró una parte de esa acción en cada fecha en que el banco haya comprado la acción con pagos procedentes de fondos disponibles. 2012 tax file Canjes no sujetos a impuestos. 2012 tax file   Si adquiere bienes de inversión en un canje por otros bienes de inversión y la base de los nuevos bienes está determinada, en su totalidad o en parte, por la base de los antiguos bienes, el período de tenencia de los nuevos bienes comienza el día siguiente de la fecha en que adquirió los antiguos bienes. 2012 tax file Bienes recibidos como regalo. 2012 tax file   Si recibe un regalo de bienes y la base se determina por la base ajustada del donante, se considera que el período de tenencia ha empezado el mismo día en que empezó el período de tenencia del donante. 2012 tax file   Si la base está determinada por el valor justo de mercado de los bienes, el período de tenencia comienza el día siguiente de la fecha del regalo. 2012 tax file Bienes heredados. 2012 tax file   Por lo general, si usted heredó bienes de inversión, su ganancia o pérdida de capital en cualquier enajenación que realice luego con ese bien es una ganancia o pérdida de capital a largo plazo. 2012 tax file Esto es así independientemente de cuánto tiempo usted tuvo el bien como su propiedad. 2012 tax file Sin embargo, si usted heredó los bienes de alguien que falleció en el 2010, vea la información que aparece a continuación. 2012 tax file Bienes heredados de una persona que falleció en el año 2010. 2012 tax file   Si hereda bienes de inversión de un difunto que falleció en el año 2010, y el albacea del patrimonio del difunto optó por presentar el Formulario 8939, consulte la información provista por el albacea o vea la Publicación 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010 (Trato tributario de bienes adquiridos de un difunto que falleció en 2010), en inglés, para determinar su período de tenencia. 2012 tax file Bienes raíces comprados. 2012 tax file   Para calcular el tiempo que tuvo bienes raíces comprados conforme a un contrato incondicional, empiece a contar el día después de la fecha en que recibió el título de los bienes o la fecha después de la que tomó posesión de los bienes y asumió las obligaciones y privilegios de propietario, lo que sucediera primero. 2012 tax file Sin embargo, aceptar la entrega o tomar posesión de bienes raíces conforme a un contrato de opción no es suficiente para comenzar el período de tenencia. 2012 tax file El período de tenencia no puede comenzar hasta que haya un contrato de venta real. 2012 tax file El período de tenencia del vendedor no puede terminar antes de esa fecha. 2012 tax file Si recupera la posesión de bienes raíces. 2012 tax file   Si vende bienes raíces pero retiene un derecho prendario a los mismos, y más adelante recupera la posesión de dichos bienes raíces según los términos del contrato de venta, el período de tenencia correspondiente a una venta posterior abarca el período durante el cual fue dueño de los bienes raíces antes de la primera venta y el período después de que haya recuperado la posesión de los mismos. 2012 tax file El período de tenencia no incluye el período entre la primera venta y la recuperación de la posesión de los bienes raíces. 2012 tax file Es decir, no incluye el período durante el cual el primer comprador fue dueño de dichos bienes raíces. 2012 tax file Dividendos de acciones. 2012 tax file   El período de tenencia de las acciones que usted recibió como dividendo de acciones sujeto a impuestos comienza en la fecha de distribución. 2012 tax file   El período de tenencia de acciones nuevas que recibió como dividendo de acciones no sujeto a impuestos comienza el mismo día que el período de tenencia de las antiguas acciones. 2012 tax file Esta regla también se aplica a acciones adquiridas en una “escisión”, lo cual es una distribución de acciones o valores en una sociedad anónima controlada. 2012 tax file Derechos de suscripción no sujetos a impuestos. 2012 tax file   El período de tenencia de derechos de suscripción no sujetos a impuestos comienza el mismo día que el período de tenencia de las acciones precedentes. 2012 tax file El período de tenencia de acciones adquiridas a través del ejercicio de derechos de suscripción comienza en la fecha en que se ejerció el derecho. 2012 tax file Deudas Incobrables no Empresariales Si alguien le debe dinero que usted no puede cobrar, entonces tiene una deuda incobrable. 2012 tax file Tal vez pueda deducir la cantidad adeudada cuando calcule su impuesto para el año en que la deuda pierda todo su valor. 2012 tax file Normalmente, las deudas incobrables no empresariales son deudas incobrables que no obtuvo en el transcurso de la operación de su ocupación o negocio, y son deducibles como pérdidas de capital a corto plazo. 2012 tax file Para que las deudas incobrables no comerciales sean deducibles, tienen que perder totalmente su valor. 2012 tax file No puede deducir una deuda no comercial que ha perdido sólo parte de su valor. 2012 tax file Requisito de deuda genuina. 2012 tax file   Una deuda tiene que ser genuina para que pueda deducir la pérdida. 2012 tax file Una deuda es genuina si surge de una relación deudor−acreedor que se basa en una obligación válida y ejecutable de reembolsar una suma de dinero fija o determinable. 2012 tax file Requisito de base en la deuda incobrable. 2012 tax file    Para deducir una deuda incobrable, tiene que tener una base en la misma, es decir, tiene que haber incluido previamente la cantidad en sus ingresos o haber prestado su efectivo. 2012 tax file Por ejemplo, no puede declarar una deducción por deuda incobrable por una pensión por orden judicial para hijos menores que su ex cónyuge no haya pagado. 2012 tax file Si es contribuyente con base de método a base de efectivo (como la mayoría de las personas físicas), normalmente no puede declarar una deducción por deuda incobrable por sueldos, salarios, alquileres, honorarios, intereses, dividendos y conceptos similares no pagados. 2012 tax file Cuándo son deducibles las deudas incobrables. 2012 tax file   Puede tomar una deducción por deuda incobrable sólo en el año en que la deuda pierde su valor. 2012 tax file No tiene que esperar el vencimiento de una deuda para saber si ha perdido su valor. 2012 tax file Una deuda pierde su valor cuando ya no cabe la posibilidad de que se pague la cantidad adeudada. 2012 tax file   No es necesario llevar el asunto ante los tribunales si puede demostrar que la deuda sería incobrable a pesar de una sentencia de compensación monetaria dictada por un tribunal. 2012 tax file Sólo tiene que demostrar que ha tomado medidas razonables para cobrar la deuda. 2012 tax file En la mayoría de los casos, la quiebra del deudor demuestra suf
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Tax Law Changes Related to National Disaster Relief

FS-2009-8, January 2009

(Updated June 21, 2010 — For information regarding the filing of 2009 income tax returns, refer to the last section of this document, "Reporting Losses from a Federally Declared Disaster Occurring in 2010.")

The National Disaster Relief Act of 2008, Subtitle B or Title VII of the Emergency Economic Stabilization Act of 2008, signed into law on Oct. 3, 2008, as Public Law 110-343, provides tax relief for victims of federally declared disasters occurring after
Dec. 31, 2007, and before Jan. 1, 2010.

Prior to enactment of the National Disaster Relief Act, when a major disaster struck, Congress would draft legislation providing targeted tax benefits for taxpayers affected by the disaster that were specific to that particular disaster.

The National Disaster Relief Act, which provides a broad package of tax benefits that may be used by anyone who is affected by a federally declared disaster, effectively replaces the strategy of providing targeted benefits for disaster victims in the weeks or months following the incident. Certain provisions of the National Disaster Relief Act of 2008 do not apply to the Midwestern disaster areas –– disasters affecting the Midwest that were declared from May 20, 2008 through July 31, 2008 –– because the Heartland and Hurricane Ike Disaster Relief Act, part of the same legislation that resulted in the National Disaster Relief Act, provides other tax benefits. See Publication 4492-B for detailed information on the tax benefits that apply to the Midwestern disaster areas. 

The National Disaster Relief Act provides the following tax benefits: 

  • Allows all taxpayers, not just those who itemize, to claim the casualty loss deduction regardless of the taxpayer’s adjusted gross income level;
  • Increases the amount by which all individual taxpayers must reduce their personal casualty losses from each casualty from $100 to $500 for taxable years beginning after Dec. 31, 2008. The reduction amount returns to $100 for taxable years beginning after Dec. 31, 2009;   
  • Removes the requirement that the net casualty loss deduction be allowed only if the casualty loss exceeds 10 percent of the taxpayer’s adjusted gross income;
  • Provides a five-year net operating loss (NOL) carryback for qualified natural disaster losses.
  • Waives certain mortgage revenue bond requirements for affected taxpayers and allows the bond proceeds to be used for rebuilding.

For business taxpayers, the Act also:   

  • Allows an affected business taxpayer to deduct certain qualified disaster cleanup expenses;
  • Allows an affected business taxpayer to deduct 50 percent of the cost of qualifying property in addition to the regular depreciation allowance that is normally available; and
  • Increases the limits that an affected business taxpayer can expense for qualifying section 179 property.

Major portions of the National Disaster Relief Act are highlighted below.

See Publication 547, Casualties, Disasters, and Thefts, for information necessary in preparing 2008 tax returns. 

Section 706: Losses Attributable to Federally Declared Disasters

Section 706 of the National Disaster Relief Act provides relief to individual taxpayers whose personal-use property was damaged or destroyed by a casualty in a federally declared disaster area. 

Under prior law, individuals who suffered casualty losses as a result of a Presidentially-declared disaster –– the term was redefined as “federally declared disaster” in the legislation –– were required to reduce the loss from each casualty event by $100 and reduce the total of their casualty losses for the tax year by 10 percent of their adjusted gross income. In addition, these individuals were required to claim their casualty losses as an itemized deduction. 

The new law removes the 10 percent of adjusted gross income limitation for net disaster losses and allows individuals to claim the net disaster losses even if they do not itemize their deductions. 

To qualify, a loss must be attributable to a federally declared disaster and occur in an area determined by the President to warrant federal assistance. A federally declared disaster is any disaster subsequently determined by the President to warrant assistance by the federal government under the Stafford Act. The deduction is limited to the “net disaster loss” which consists of the excess of personal casualty losses attributable to a federally declared disaster over personal casualty gains. The new law is effective for disasters declared in taxable years beginning after Dec. 31, 2007, and occurring before Jan. 1, 2010. Information on disaster declarations and the areas they encompass may be found at the Federal Emergency Management Agency (FEMA) Web site.

The new law also changes the amount by which all individual taxpayers must reduce their personal casualty losses from each casualty from $100 to $500. This change is effective for taxable years beginning after Dec. 31, 2008. The reduction amount returns to $100 for taxable years beginning after Dec. 31, 2009.   

For more information on these tax law changes, see Publication 547, Casualties, Disasters, and Thefts.

Section 712 provides that these changes to the law do not apply to the casualty losses in the Midwestern disaster areas declared during the period beginning on May 20, 2008, and ending on July 31, 2008. See Publication 4492-B for more information on the Midwestern disaster areas.

Section 707: Expensing of Qualified Disaster Expenses

Section 707 of the National Disaster Relief Act allows taxpayers to elect to currently deduct qualified disaster expenses in the tax year paid or incurred. Qualified disaster expenses consist of expenditures paid or incurred in connection with a trade or business or with business-related property that otherwise must be capitalized and that are:

  • For the abatement or control of hazardous substances that were released on account of a federally declared disaster;
  • Debris removal or demolition of structures on real property damaged or destroyed by a federally declared disaster; or
  • For the repair of business-related property damaged by a federally declared disaster. 

As previously explained, a federally declared disaster is any disaster subsequently determined by the President to warrant assistance by the federal government under the Stafford Act. This provision is effective for amounts paid or incurred after Dec. 31, 2007, in connection with disasters declared after that date and federally declared disasters occurring before Jan. 1, 2010. 

Section 712 provides that these changes to the law do not apply to the casualty losses in the Midwestern disaster areas declared during the period beginning on May 20, 2008, and ending on July 31, 2008

Section 708: Net Operating Losses Attributable to Federally Declared Disasters

In general, a net operating loss is carried back two years and carried forward 20. Section 708 of the National Disaster Relief Act allows taxpayers to carry back a qualified disaster loss five years. A qualified disaster loss is the lesser of the taxpayer’s net operating loss for the taxable year or the sum of the following:

  • The taxpayer’s losses allowable under section 165 of the Internal Revenue Code for the taxable year attributable to a federally declared disaster occurring before Jan. 1, 2010, and occurring in a disaster area; and
  • The taxpayer’s deduction for the taxable year for qualified disaster expenses allowable under section 198A(a) of the Internal Revenue Code (or the amount that would have been allowable if the taxpayer deducted qualified disaster expenses). 

A qualified disaster loss is treated a net operating loss that is separate from the taxpayer’s regular NOL. 

Section 708 also includes a provision that allows taxpayers to elect to disregard the five-year carryback rule for their qualified disaster loss. . 

Finally, Section 708 provides an exception to the general rule that a taxpayer may use an alternative minimum tax (AMT) net operating loss deduction to offset only 90 percent of the taxpayer’s alternative minimum taxable income. Section 708 provides that the 90-percent limit does not apply to the portion of the AMT net operating loss deduction attributable to a qualified disaster loss. 

These rules apply to disasters declared in taxable years beginning after Dec. 31, 2007.  

Section 712 provides that these changes to the law do not apply to the Midwestern disaster areas declared during the period beginning on May 20, 2008, and ending on July 31, 2008.

Section 709: Waiver of Certain Mortgage Revenue Bond Requirements Following Federally Declared Disasters

Section 709 of the National Disaster Relief Act adds new paragraph 12 to section 143(k) of the Internal Revenue Code, which waives certain mortgage revenue bond requirements otherwise applicable where an affected taxpayer’s principal residence is destroyed or damaged as a result of a federally declared disaster. An earlier law, the Housing Assistance Tax Act of 2008 enacted on June 30, 2008, also added a different §143(k)(12) to the Code. So currently there are two §143(k)(12)s in the Code.

New Code section 143(k)(12)(A) provides that, at the election of the taxpayer, if a person’s principal residence is destroyed –– the home is rendered unsafe for use as a result of a federally declared disaster occurring between Dec. 31, 2007 and Jan. 1, 2010, or the home is demolished or relocated because of an order issued as a result of such federally declared disaster occurring during such timeframe –– then for two years following the date of such disaster, the three-year requirement of section 143(d)(1) does not apply and the purchase price requirement is relaxed. Accordingly, such person may receive a mortgage loan financed with the proceeds of tax exempt qualified mortgage bonds regardless of whether he owned his principal residence within three years of receiving such mortgage loan, and such mortgage loan may be for the acquisition of a home which costs 110 percent of the average area purchase price. 

New Code section 143(k)(12)(B) provides that, at the election of the taxpayer, if a person’s principal residence is damaged as a result of a federally declared disaster occurring after Dec. 31, 2007, and before Jan. 1, 2010, any loan taken by such person to repair or reconstruct such residence in an amount equal to the lesser of the cost of such repair or reconstruction or $150,000 may be treated as a qualified rehabilitation loan and thus may be financed using the proceeds of tax-exempt qualified mortgage bonds. An election, once made, cannot be revoked unless permission is granted by the Secretary. 

Section 709 further provides that a taxpayer who makes a section 143(k)(12) election  may not also elect to apply the special rules for residences located in disaster areas found in Code section 143(k)(11). The special rules found in Code section 143(k)(11) allow taxpayers to use the proceeds of tax exempt qualified mortgage bonds issued between May 1, 2008, and Jan. 1, 2010, to finance mortgage loans for residences located in disaster areas for two years from the date of the applicable disaster declaration without regard to the three-year requirement by treating the residence as if it were a targeted area residence for purposes of the purchase price requirement and the income requirements. This provision, unlike § 143(k)(12), does not limit the financing only to those taxpayers whose homes were damaged by the disaster.

Section 712 provides that these changes to the law do not apply to the Midwestern disaster areas declared during the period beginning on May 20, 2008, and ending on July 31, 2008.

Section 710: Special Depreciation Allowance for Qualified Disaster Property

Section 710 of the National Disaster Relief Act provides a special 50 percent depreciation allowance for purchases of qualified disaster assistance property. It allows taxpayers to deduct 50 percent of the cost of qualified disaster assistance property in addition to the regular depreciation allowance that is normally available.

This new special “bonus depreciation” allowance applies to most types of tangible personal property and computer software acquired on or after the date on which the federally declared disaster occurs, and placed in service on or before Dec. 31 of the third year following the date on which the federally declared disaster occurs. In addition, the new bonus depreciation allowance applies to most nonresidential real property and residential rental property acquired on or after the date on which the federally declared disaster occurs, and placed in service on or before Dec. 31 of the fourth year following the date on which the federally declared disaster occurs.

To qualify for the new bonus depreciation allowance, 80 percent or more of the use of the property must be in the disaster area and in the active conduct of a trade or business by the taxpayer in that disaster area. Also, the property owner must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the federally declared disaster and must be similar in nature to, and located in the same county as, the property being rehabilitated or replaced.

Section 711: Increased Expensing for Qualified Disaster Assistance Property

In general, a taxpayer may elect to expense up to a certain amount or dollar limit of section 179 property placed in service during the tax year. However, this dollar limit is reduced, but not below zero, if the cost of section 179 property placed in service during that year exceeds a certain amount, or reduced dollar limit. For 2008, the dollar limit is $250,000 and the reduced dollar limit is $800,000.

Section 711 of the National Disaster Relief Act increases the limits that businesses can expense for qualified section 179 disaster assistance property. Generally, the new law increases the dollar limit that is normally available for a particular tax year by the lesser of $100,000, or the cost of qualified section 179 disaster assistance property placed in service during that year. Also, the new law generally increases the reduced dollar limit that is normally available for a particular year by the lesser of $600,000, or the cost of qualified section 179 disaster assistance property placed in service during that year.    

Qualified section 179 disaster assistance property is section 179 property that is qualified disaster assistance property for purposes of the new bonus depreciation allowance provided under section 710 of the National Disaster Relief Act. Section 179 property is most types of tangible personal property and off-the-shelf computer software.

The new law did not change the amount that a taxpayer can elect to expense for certain sport utility vehicles and certain other vehicles placed in service during the tax year.  Accordingly, a taxpayer cannot elect to expense more than $25,000 of the cost of these types of vehicles.

Section 712: Coordination with Heartland Disaster Relief

Section 712 of the National Disaster Relief Act explains that certain provisions contained in the National Disaster Relief Act do not apply to the Midwestern Disaster Areas. For information specific to the Midwestern Disaster Areas, see Publication 4492-B.

Reporting Losses from a Federally Declared Disaster Occurring in 2010

The National Disaster Relief Act of 2008, Subtitle B or Title VII of the Emergency Economic Stabilization Act of 2008, provided enhanced tax relief for victims of federally declared disasters occurring after Dec. 31, 2007, and before Jan. 1, 2010. Those provisions are not effective for disasters occurring after Dec. 31, 2009. Legislation extending the provisions to disasters occurring before Jan. 1, 2011, has been proposed but has not yet been signed into law.

Because the enhanced casualty loss provisions are not effective for federally declared disasters occurring after Dec. 31, 2009, taxpayers affected by federally declared disasters in 2010 may take the loss into account for tax year 2009. See Page 12 of the 2009 version of Publication 547 for information on elections to deduct disaster losses in the year preceding the disaster year, including the time limits on making such elections.

This means, if you are an affected taxpayer with respect to a federally declared disaster occurring after Dec. 31, 2009, you may claim the loss on your 2009 income tax return. Claiming a loss on your 2009 return will allow you to take advantage of the National Disaster Relief Act provisions effective for tax year 2009. 

Page Last Reviewed or Updated: 20-Mar-2014

The 2012 Tax File

2012 tax file Publication 947 - Main Content Table of Contents Practice Before the IRSWhat Is Practice Before the IRS? Who Can Practice Before the IRS? Who Cannot Practice Before the IRS? How Does an Individual Become Enrolled? What Are the Rules of Practice? Authorizing a RepresentativeWhat Is a Power of Attorney? When Is a Power of Attorney Required? When Is a Power of Attorney Not Required? How Do I Fill Out Form 2848? What Happens to the Power of Attorney When Filed? How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). 2012 tax file Practice Before the IRS The Office of Professional Responsibility and the Return Preparer Office generally are responsible for administering and enforcing the regulations governing practice before the IRS. 2012 tax file The Office of Professional Responsibility generally has responsibility for matters related to practitioner conduct and exclusive responsibility for discipline, including disciplinary proceedings and sanctions. 2012 tax file The Return Preparer Office is responsible for matters related to the authority to practice, including acting on applications for enrollment and administering competency testing and continuing education. 2012 tax file What Is Practice Before the IRS? Practice before the IRS covers all matters relating to any of the following. 2012 tax file Communicating with the IRS for a taxpayer regarding the taxpayer's rights, privileges, or liabilities under laws and regulations administered by the IRS. 2012 tax file Representing a taxpayer at conferences, hearings, or meetings with the IRS. 2012 tax file Preparing and filing documents, including tax returns, with the IRS for a taxpayer. 2012 tax file Providing a client with written advice which has a potential for tax avoidance or evasion. 2012 tax file Furnishing information at the request of the IRS or appearing as a witness for the taxpayer is not practice before the IRS. 2012 tax file Who Can Practice Before the IRS? The following individuals can practice before the IRS. 2012 tax file However, any individual who is recognized to practice (a recognized representative) must be designated as the taxpayer's representative and file a written declaration with the IRS stating that he or she is authorized and qualified to represent a particular taxpayer. 2012 tax file Form 2848 can be used for this purpose. 2012 tax file Attorneys. 2012 tax file   Any attorney who is not currently under suspension or disbarment from practice before the IRS and who is a member in good standing of the bar of the highest court of any state, possession, territory, commonwealth, or the District of Columbia may practice before the IRS. 2012 tax file Certified public accountants (CPAs). 2012 tax file   Any CPA who is not currently under suspension or disbarment from practice before the IRS and who is duly qualified to practice as a CPA in any state, possession, territory, commonwealth, or the District of Columbia may practice before the IRS. 2012 tax file Enrolled agents. 2012 tax file   Any enrolled agent in active status who is not currently under suspension or disbarment from practice before the IRS may practice before the IRS. 2012 tax file Enrolled retirement plan agents. 2012 tax file   Any enrolled retirement plan agent in active status who is not currently under suspension or disbarment from practice before the IRS may practice before the IRS. 2012 tax file The practice of enrolled retirement plan agents is limited to certain Internal Revenue Code sections that relate to their area of expertise, principally those sections governing employee retirement plans. 2012 tax file Enrolled actuaries. 2012 tax file   Any individual who is enrolled as an actuary by the Joint Board for the Enrollment of Actuaries who is not currently under suspension or disbarment from practice before the IRS may practice before the IRS. 2012 tax file The practice of enrolled actuaries is limited to certain Internal Revenue Code sections that relate to their area of expertise, principally those sections governing employee retirement plans. 2012 tax file Student. 2012 tax file    Under certain circumstances, a student who is supervised by a practitioner may request permission to represent another person before the IRS. 2012 tax file For more information, see Authorization for special appearances, later. 2012 tax file Registered tax return preparers and unenrolled return preparers. 2012 tax file   A registered tax return preparer is an individual who has passed an IRS competency test and is authorized to prepare and sign tax returns as the preparer. 2012 tax file An unenrolled return preparer is an individual other than an attorney, CPA, enrolled agent, enrolled retirement plan agent, or enrolled actuary who prepares and signs a taxpayer's return as the preparer, or who prepares a return but is not required (by the instructions to the return or regulations) to sign the return. 2012 tax file   Registered tax return preparers and unenrolled return preparers may only represent taxpayers before revenue agents, customer service representatives, or similar officers and employees of the Internal Revenue Service (including the Taxpayer Advocate Service) during an examination of the taxable year or period covered by the tax return they prepared and signed. 2012 tax file Registered tax return preparers and unenrolled return preparers cannot represent taxpayers, regardless of the circumstances requiring representation, before appeals officers, revenue officers, counsel or similar officers or employees of the Internal Revenue Service or the Department of Treasury. 2012 tax file Registered tax return preparers and unenrolled return preparers cannot execute closing agreements, extend the statutory period for tax assessments or collection of tax, execute waivers, execute claims for refund, or sign any document on behalf of a taxpayer. 2012 tax file   If the unenrolled return preparer does not meet the requirements for limited representation, you may file Form 8821 to allow the preparer to inspect your tax information and receive copies of notices sent to you by the IRS. 2012 tax file See Form 8821. 2012 tax file Practice denied. 2012 tax file   Any individual engaged in limited practice before the IRS who is involved in disreputable conduct is subject to disciplinary action. 2012 tax file Disreputable conduct includes, but is not limited to, the list of items under Incompetence and Disreputable Conduct shown later under What Are the Rules of Practice. 2012 tax file Other individuals who may serve as representatives. 2012 tax file   Because of their special relationship with a taxpayer, the following individuals can represent the specified taxpayers before the IRS, provided they present satisfactory identification and, except in the case of an individual described in (1) below, proof of authority to represent the taxpayer. 2012 tax file An individual. 2012 tax file An individual can represent himself or herself before the IRS and does not have to file a written declaration of qualification and authority. 2012 tax file A family member. 2012 tax file An individual can represent members of his or her immediate family. 2012 tax file Immediate family includes a spouse, child, parent, brother, or sister of the individual. 2012 tax file An officer. 2012 tax file A bona fide officer of a corporation (including a parent, subsidiary, or other affiliated corporation), association, or organized group can represent the corporation, association, or organized group. 2012 tax file An officer of a governmental unit, agency, or authority, in the course of his or her official duties, can represent the organization before the IRS. 2012 tax file A partner. 2012 tax file A general partner may represent the partnership before the IRS. 2012 tax file An employee. 2012 tax file A regular full-time employee can represent his or her employer. 2012 tax file An employer can be, but is not limited to, an individual, partnership, corporation (including a parent, subsidiary, or other affiliated corporation), association, trust, receivership, guardianship, estate, organized group, governmental unit, agency, or authority. 2012 tax file A fiduciary. 2012 tax file A fiduciary (trustee, executor, personal representative, administrator, receiver, or guardian) stands in the position of a taxpayer and acts as the taxpayer, not as a representative. 2012 tax file See Fiduciary under When Is a Power of Attorney Not Required, later. 2012 tax file Representation Outside the United States Any individual may represent an individual or entity, who is outside the United States, before personnel of the IRS when such representation occurs outside the United States. 2012 tax file See section 10. 2012 tax file 7(c)(1)(vii) of Circular 230. 2012 tax file Authorization for Special Appearances The Commissioner of Internal Revenue, or delegate, can authorize an individual who is not otherwise eligible to practice before the IRS to represent another person for a particular matter. 2012 tax file The prospective representative must request this authorization in writing from the Office of Professional Responsibility. 2012 tax file However, it is granted only when extremely compelling circumstances exist. 2012 tax file If granted, the Commissioner, or delegate, will issue a letter that details the conditions related to the appearance and the particular tax matter for which the authorization is granted. 2012 tax file The authorization letter should not be confused with a letter from an IRS center advising an individual that he or she has been assigned a Centralized Authorization File (CAF) number. 2012 tax file The issuance of a CAF number does not indicate that an individual is either recognized or authorized to practice before the IRS. 2012 tax file It merely confirms that a centralized file for authorizations has been established for the individual under that number. 2012 tax file Students in LITCs and the STCP. 2012 tax file   A student who works in a Low Income Taxpayer Clinic (LITC) or Student Tax Clinic Program (STCP) who is supervised by a practitioner may request permission to represent another person before the IRS. 2012 tax file Authorization requests must be made to the Office of Professional Responsibility. 2012 tax file If granted, a letter authorizing the student's special appearance and detailing any conditions related to the appearance will be issued. 2012 tax file Students receiving an authorization letter generally can represent taxpayers before any IRS function or office subject to any conditions in the authorization letter. 2012 tax file If you intend to have a student represent you, review the authorization letter and ask your student, your student's supervisor, or the Office of Professional Responsibility if you have questions about the terms of the authorization. 2012 tax file Who Cannot Practice Before the IRS? In general, individuals who are not eligible or who have lost the privilege as a result of certain actions cannot practice before the IRS. 2012 tax file If an individual loses eligibility to practice, the IRS will not recognize a power of attorney that names the individual as a representative. 2012 tax file Corporations, associations, partnerships, and other persons that are not individuals. 2012 tax file   These organizations (or persons) are not eligible to practice before the IRS. 2012 tax file Loss of Eligibility Generally, individuals lose their eligibility to practice before the IRS in the following ways. 2012 tax file Not meeting the requirements for renewal of enrollment (such as continuing professional education). 2012 tax file Requesting to be placed in inactive retirement status. 2012 tax file Being suspended or disbarred by the Office of Professional Responsibility for violating the regulations governing practice before the IRS. 2012 tax file Failure to meet requirements. 2012 tax file   Individuals who fail to comply with the requirements for eligibility for renewal of enrollment will be notified by the IRS. 2012 tax file The notice will explain the reason for noncompliance and provide the individual with an opportunity to furnish information for reconsideration. 2012 tax file The individual has 60 days from the date of the notice to respond. 2012 tax file Inactive roster. 2012 tax file   An individual will be placed on the roster of inactive individuals for a period of three years, if he or she: Fails to respond timely to the notice of noncompliance with the renewal requirements, Fails to file timely the application for renewal, or Does not satisfy the requirements of eligibility for renewal. 2012 tax file The individual must file an application for renewal and satisfy all requirements for renewal after being placed in inactive status. 2012 tax file Otherwise, at the conclusion of the next renewal cycle, he or she will be removed from the roster and the enrollment or registration terminated. 2012 tax file Inactive retirement status. 2012 tax file   Individuals who request to be placed in an inactive retirement status will be ineligible to practice before the IRS. 2012 tax file They must continue to adhere to all renewal requirements. 2012 tax file They can be reinstated to an active enrollment status by filing an application for renewal and providing evidence that they have completed the required continuing professional education hours for the enrollment cycle or registration year. 2012 tax file Suspension and disbarment. 2012 tax file   Individuals authorized to practice before the IRS are subject to disciplinary proceedings and may be suspended or disbarred for violating any regulation governing practice before the IRS. 2012 tax file This includes engaging in acts of disreputable conduct. 2012 tax file For more information, see Incompetence and Disreputable Conduct under What are the Rules of Practice, later. 2012 tax file   Practitioners who are suspended in a disciplinary proceeding are not allowed to practice before the IRS during the period of suspension. 2012 tax file See What Is Practice Before the IRS, earlier. 2012 tax file   Practitioners who are disbarred in a disciplinary proceeding are not allowed to practice before the IRS. 2012 tax file However, a practitioner can seek reinstatement from the Office of Professional Responsibility five years after disbarment. 2012 tax file   If the practitioner seeks reinstatement, he or she may not practice before the IRS until the Office of Professional Responsibility authorizes reinstatement. 2012 tax file The Office of Professional Responsibility may reinstate the practitioner if it is determined that: The practitioner's future conduct is not likely to be in violation of the regulations, and Granting the reinstatement would not be contrary to the public interest. 2012 tax file How Does an Individual Become Enrolled? The Return Preparer Office can grant enrollment to practice before the IRS to an applicant who demonstrates special competence in tax matters by passing a written examination administered by the IRS. 2012 tax file Enrollment also can be granted to an applicant who qualifies because of past service and technical experience in the IRS. 2012 tax file In either case, certain application forms, discussed next, must be filed. 2012 tax file Additionally, an applicant must not have engaged in any conduct that would justify suspension or disbarment from practice before the IRS. 2012 tax file See Incompetence and Disreputable Conduct, later. 2012 tax file Form 2587. 2012 tax file   Applicants can apply to take the special enrollment examination by filing Form 2587, Application for Special Enrollment Examination. 2012 tax file Form 2587 can be filed online, by mail, or by fax. 2012 tax file For more information, see instructions and fees listed on the form. 2012 tax file To get Form 2587, see How To Get Tax Help, later. 2012 tax file Form 23 and Form 23-EP. 2012 tax file   Individuals who have passed the examination or are applying on the basis of past service and technical experience with the IRS can apply for enrollment by filing Form 23, Application for Enrollment to Practice Before the Internal Revenue Service, or Form 23-EP, Application for Enrollment to Practice Before the Internal Revenue Service as an Enrolled Retirement Plan Agent. 2012 tax file The application must include a check or money order in the amount of the fee shown on Form 23 or Form 23-EP. 2012 tax file Alternatively, payment may be made electronically pursuant to instructions on the forms. 2012 tax file To get Form 23 or Form 23-EP, see How To Get Tax Help, later. 2012 tax file Form 5434. 2012 tax file   An individual may apply as an enrolled actuary on the basis of past employment with the IRS and technical experience by filing Form 5434, Application for Enrollment, with the Joint Board for the Enrollment of Actuaries. 2012 tax file The application must include a check or money order in the amount of the fee shown on Form 5434. 2012 tax file To get Form 5434, see How To Get Tax Help, later. 2012 tax file Period of enrollment. 2012 tax file   An enrollment card will be issued to each individual whose enrollment application is approved. 2012 tax file The individual is enrolled until the expiration date shown on the enrollment card or certificate. 2012 tax file To continue practicing beyond the expiration date, the individual must request renewal of the enrollment by filing Form 8554, Application for Renewal of Enrollment to Practice Before the Internal Revenue Service, or Form 8554-EP, Application for Renewal of Enrollment to Practice Before the Internal Revenue Service as an Enrolled Retirement Plan Agent (ERPA). 2012 tax file What Are the Rules of Practice? The rules governing practice before the IRS are published in the Code of Federal Regulations at 31 C. 2012 tax file F. 2012 tax file R. 2012 tax file part 10 and reprinted in Treasury Department Circular No. 2012 tax file 230 (Circular 230). 2012 tax file An attorney, CPA, enrolled agent, enrolled retirement plan agent, registered tax return preparer, or enrolled actuary authorized to practice before the IRS (referred to hereafter as a practitioner) has the duty to perform certain acts and is restricted from performing other acts. 2012 tax file In addition, a practitioner cannot engage in disreputable conduct (discussed later). 2012 tax file Any practitioner who does not comply with the rules of practice or engages in disreputable conduct is subject to disciplinary action. 2012 tax file Also, unenrolled preparers must comply with the rules of practice and conduct to exercise the privilege of limited practice before the IRS. 2012 tax file See Publication 470 for a discussion of the special rules for limited practice by unenrolled preparers. 2012 tax file Duties Practitioners must promptly submit records or information requested by officers or employees of the IRS, except when the practitioner believes on reasonable belief and good faith that the information is privileged. 2012 tax file Communications with respect to tax advice between a federally authorized tax practitioner and a taxpayer generally are confidential to the same extent that communication would be privileged if it were between a taxpayer and an attorney if the advice relates to: Noncriminal tax matters before the IRS, or Noncriminal tax proceedings brought in federal court by or against the United States. 2012 tax file Communications regarding corporate tax shelters. 2012 tax file   This protection of tax advice communications does not apply to any written communications between a federally authorized tax practitioner and any person, including a director, shareholder, officer, employee, agent, or representative of a corporation if the communication involves the promotion of the direct or indirect participation of the corporation in any tax shelter. 2012 tax file Duty to advise. 2012 tax file   A practitioner who knows that his or her client has not complied with the revenue laws or has made an error or omission in any return, document, affidavit, or other required paper, has the responsibility to advise the client promptly of the noncompliance, error, or omission, and the consequences of the noncompliance, error, or omission. 2012 tax file Due diligence. 2012 tax file   A practitioner must exercise due diligence when performing the following duties. 2012 tax file Preparing or assisting in the preparing, approving, and filing of returns, documents, affidavits, and other papers relating to IRS matters. 2012 tax file Determining the correctness of oral or written representations made by him or her to the Department of the Treasury. 2012 tax file Determining the correctness of oral or written representations made by him or her to clients with reference to any matter administered by the IRS. 2012 tax file Restrictions Practitioners are restricted from engaging in certain practices. 2012 tax file The following paragraphs discuss some of these restricted practices. 2012 tax file Delays. 2012 tax file   A practitioner must not unreasonably delay the prompt disposition of any matter before the IRS. 2012 tax file Assistance from disbarred or suspended persons and former IRS employees. 2012 tax file   A practitioner must not knowingly, directly or indirectly, do the following. 2012 tax file Accept assistance from, or assist, any person who is under disbarment or suspension from practice before the IRS if the assistance relates to matters considered practice before the IRS. 2012 tax file Accept assistance from any former government employee where provisions of Circular 230 or any federal law would be violated. 2012 tax file Performance as a notary. 2012 tax file   A practitioner who is a notary public and is employed as counsel, attorney, or agent in a matter before the IRS, or has a material interest in the matter, cannot engage in any notary activities related to that matter. 2012 tax file Negotiations of taxpayer refund checks. 2012 tax file   Practitioners must not endorse or otherwise negotiate (cash) any refund check (including directing or accepting payment by any means, electronic or otherwise, in an account owned or controlled by the practitioner or any firm or other entity with whom the practitioner is associated) issued to the taxpayer. 2012 tax file Incompetence and Disreputable Conduct Any practitioner or unenrolled return preparer may be disbarred or suspended from practice before the IRS, or censured, for incompetence or disreputable conduct. 2012 tax file The following list contains examples of conduct that is considered disreputable. 2012 tax file Being convicted of any criminal offense under the revenue laws or of any offense involving dishonesty or breach of trust. 2012 tax file Knowingly giving false or misleading information in connection with federal tax matters, or participating in such activity. 2012 tax file Soliciting employment by prohibited means as discussed in section 10. 2012 tax file 30 of Circular 230. 2012 tax file Willfully failing to file a federal tax return, evading or attempting to evade any federal tax or payment, or participating in such actions. 2012 tax file Misappropriating, or failing to properly and promptly remit, funds received from clients for payment of taxes or other obligations due the United States. 2012 tax file Directly or indirectly attempting to influence the official action of IRS employees by the use of threats, false accusations, duress, or coercion, or by offering gifts, favors, or any special inducements. 2012 tax file Being disbarred or suspended from practice as an attorney, CPA, public accountant, or actuary, by the District of Columbia or any state, possession, territory, commonwealth, or any federal court, or any federal agency, body, or board. 2012 tax file Knowingly aiding and abetting another person to practice before the IRS during a period of suspension, disbarment, or ineligibility of that other person. 2012 tax file Using abusive language, making false accusations and statements knowing them to be false, circulating or publishing malicious or libelous matter, or engaging in any contemptuous conduct in connection with practice before the IRS. 2012 tax file Giving a false opinion knowingly, recklessly, or through gross incompetence; or following a pattern of providing incompetent opinions in questions arising under the federal tax laws. 2012 tax file Censure, Disbarments, and Suspensions The Office of Professional Responsibility may censure or institute proceedings to censure, suspend or disbar any attorney, CPA, or enrolled agent who has violated Circular 230. 2012 tax file A practitioner will be given the opportunity to demonstrate compliance with the rules before any disciplinary action is taken. 2012 tax file Authorizing a Representative You may either represent yourself, or you may authorize an individual to represent you before the IRS. 2012 tax file If you chose to have someone represent you, your representative must be a person eligible to practice before the IRS. 2012 tax file See Who Can Practice Before the IRS, earlier. 2012 tax file What Is a Power of Attorney? A power of attorney is your written authorization for an individual to act on your behalf. 2012 tax file If the authorization is not limited, the individual generally can perform all acts that you can perform. 2012 tax file The authority granted to a registered tax return preparer or an unenrolled preparer is limited. 2012 tax file For information on the limits regarding registered tax return preparers, see Circular 230 §10. 2012 tax file 3(f). 2012 tax file For information on the limits regarding unenrolled preparers, see Publication 470. 2012 tax file Acts performed. 2012 tax file   Any representative, other than a registered tax return preparer or an unenrolled return preparer, can usually perform the following acts. 2012 tax file Represent you before any office of the IRS. 2012 tax file Sign an offer or a waiver of restriction on assessment or collection of a tax deficiency, or a waiver of notice of disallowance of claim for credit or refund. 2012 tax file Sign a consent to extend the statutory time period for assessment or collection of a tax. 2012 tax file Sign a closing agreement. 2012 tax file Signing your return. 2012 tax file   The representative named under a power of attorney is not permitted to sign your income tax return unless: The signature is permitted under the Internal Revenue Code and the related regulations (see Regulations section 1. 2012 tax file 6012-1(a)(5)). 2012 tax file You specifically authorize this in your power of attorney. 2012 tax file For example, the regulation permits a representative to sign your return if you are unable to sign the return due to: Disease or injury. 2012 tax file Continuous absence from the United States (including Puerto Rico) for a period of at least 60 days prior to the date required by law for filing the return. 2012 tax file Other good cause if specific permission is requested of and granted by the IRS. 2012 tax file When a return is signed by a representative, it must be accompanied by a power of attorney (or copy) authorizing the representative to sign the return. 2012 tax file For more information, see the Form 2848 instructions. 2012 tax file Limitation on substitution or delegation. 2012 tax file   A recognized representative can substitute or delegate authority under the power of attorney to another recognized representative only if the act is specifically authorized by you on the power of attorney. 2012 tax file   After a substitution has been made, only the newly recognized representative will be recognized as the taxpayer's representative. 2012 tax file If a delegation of power has been made, both the original and the delegated representative will be recognized by the IRS to represent you. 2012 tax file Disclosure of returns to a third party. 2012 tax file   Your representative cannot execute consents that will allow the IRS to disclose tax return or return information to a third party unless you specifically delegate this authority to your representative on line 5 of Form 2848. 2012 tax file Incapacity or incompetency. 2012 tax file   A power of attorney is generally terminated if you become incapacitated or incompetent. 2012 tax file   The power of attorney can continue, however, in the case of your incapacity or incompetency if you authorize this on line 5 “Other” of the Form 2848 and if your non-IRS durable power of attorney meets all the requirements for acceptance by the IRS. 2012 tax file See Non-IRS powers of attorney, later. 2012 tax file When Is a Power of Attorney Required? Submit a power of attorney when you want to authorize an individual to represent you before the IRS, whether or not the representative performs any of the other acts cited earlier under What Is a Power of Attorney. 2012 tax file A power of attorney is most often required when you want to authorize another individual to perform at least one of the following acts on your behalf. 2012 tax file Represent you at a meeting with the IRS. 2012 tax file Prepare and file a written response to the IRS. 2012 tax file Form Required Use Form 2848 to appoint a recognized representative to act on your behalf before the IRS. 2012 tax file Individuals recognized to practice before the IRS are listed under Part II, Declaration of Representative, of Form 2848. 2012 tax file Your representative must complete that part of the form. 2012 tax file Non-IRS powers of attorney. 2012 tax file   The IRS will accept a non-IRS power of attorney, but a completed Form 2848 must be attached in order for the power of attorney to be entered on the Centralized Authorization File (CAF) system. 2012 tax file For more information, see Processing a non-IRS power of attorney, later. 2012 tax file   If you want to use a power of attorney document other than Form 2848, it must contain the following information. 2012 tax file Your name and mailing address. 2012 tax file Your social security number and/or employer identification number. 2012 tax file Your employee plan number, if applicable. 2012 tax file The name and mailing address of your representative(s). 2012 tax file The types of tax involved. 2012 tax file The federal tax form number. 2012 tax file The specific year(s) or period(s) involved. 2012 tax file For estate tax matters, the decedent's date of death. 2012 tax file A clear expression of your intention concerning the scope of authority granted to your representative(s). 2012 tax file Your signature and date. 2012 tax file You also must attach to the non-IRS power of attorney a signed and dated statement made by your representative. 2012 tax file This statement, which is referred to as the Declaration of Representative, is contained in Part II of Form 2848. 2012 tax file The statement should read: I am not currently under suspension or disbarment from practice before the Internal Revenue Service or other practice of my profession by any other authority, I am aware of the regulations contained in Circular 230, I am authorized to represent the taxpayer(s) identified in the power of attorney, and I am an individual described in 26 CFR 601. 2012 tax file 502(b). 2012 tax file Required information missing. 2012 tax file   The IRS will not accept your non-IRS power of attorney if it does not contain all the information listed above. 2012 tax file You can sign and submit a completed Form 2848 or a new non-IRS power of attorney that contains all the information. 2012 tax file If you cannot sign an acceptable replacement document, your attorney-in-fact may be able to perfect (make acceptable to the IRS) your non-IRS power of attorney by using the procedure described next. 2012 tax file Procedure for perfecting a non-IRS power of attorney. 2012 tax file   Under the following conditions, the attorney-in-fact named in your non-IRS power of attorney can sign a Form 2848 on your behalf. 2012 tax file The original non-IRS power of attorney grants authority to handle federal tax matters (for example, general authority to perform any acts). 2012 tax file The attorney-in-fact attaches a statement (signed under penalty of perjury) to the Form 2848 stating that the original non-IRS power of attorney is valid under the laws of the governing jurisdiction. 2012 tax file Example. 2012 tax file John Elm, a taxpayer, signs a non-IRS durable power of attorney that names his neighbor and CPA, Ed Larch, as his attorney-in-fact. 2012 tax file The power of attorney grants Ed the authority to perform any and all acts on John's behalf. 2012 tax file However, it does not list specific tax-related information such as types of tax or tax form numbers. 2012 tax file Shortly after John signs the power of attorney, he is declared incompetent. 2012 tax file Later, a federal tax matter arises concerning a prior year return filed by John. 2012 tax file Ed attempts to represent John before the IRS but is rejected because the durable power of attorney does not contain required information. 2012 tax file If Ed attaches a statement (signed under the penalty of perjury) that the durable power of attorney is valid under the laws of the governing jurisdiction, he can sign a completed Form 2848 and submit it on John's behalf. 2012 tax file If Ed can practice before the IRS (see Who Can Practice Before the IRS, earlier), he can name himself as representative on Form 2848. 2012 tax file Otherwise, he must name another individual who can practice before the IRS. 2012 tax file Processing a non-IRS power of attorney. 2012 tax file   The IRS has a centralized computer database system called the CAF system. 2012 tax file This system contains information on the authority of taxpayer representatives. 2012 tax file Generally, when you submit a power of attorney document to the IRS, it is processed for inclusion on the CAF system. 2012 tax file Entry of your power of attorney on the CAF system enables IRS personnel, who do not have a copy of your power of attorney, to verify the authority of your representative by accessing the CAF. 2012 tax file It also enables the IRS to automatically send copies of notices and other IRS communications to your representative if you specify that your representative should receive those communications. 2012 tax file   You can have your non-IRS power of attorney entered on the CAF system by attaching it to a completed Form 2848 and submitting it to the IRS. 2012 tax file Your signature is not required; however, your attorney-in-fact must sign the Declaration of Representative (see Part II of Form 2848). 2012 tax file Preparation of Form — Helpful Hints The preparation of Form 2848 is illustrated by an example, later under How Do I Fill Out Form 2848. 2012 tax file However, the following will also assist you in preparing the form. 2012 tax file Line-by-line hints. 2012 tax file   The following hints are summaries of some of the line-by-line instructions for Form 2848. 2012 tax file Line 1—Taxpayer information. 2012 tax file   If a joint return is involved, the husband and wife each file a separate Form 2848 if they both want to be represented. 2012 tax file If only one spouse wants to be represented in the matter, that spouse files a Form 2848. 2012 tax file Line 2—Representative(s). 2012 tax file   Only individuals may be named as representatives. 2012 tax file If your representative has not been assigned a CAF number, enter “None” on that line and the IRS will issue one to your representative. 2012 tax file If the representative's address or phone number has changed since the CAF number was issued, you should check the appropriate box. 2012 tax file Enter your representative's fax number if available. 2012 tax file   If you want to name more than three representatives, attach additional Form(s) 2848. 2012 tax file The IRS can send copies of notices and communications to two of your representatives. 2012 tax file You must, however, check the boxes on line 2 of the Form 2848 if you want the IRS to routinely send copies of notices and communications to your representatives. 2012 tax file If you do not check the boxes, your representatives will not routinely receive copies of notices and communications. 2012 tax file Line 3—Tax matters. 2012 tax file   You may list any tax years or periods that have already ended as of the date you sign the power of attorney. 2012 tax file However, you may include on a power of attorney only future tax periods that end no later than 3 years after the date the power of attorney is received by the IRS. 2012 tax file The 3 future periods are determined starting after December 31 of the year the power of attorney is received by the IRS. 2012 tax file However, avoid general references such as “all years” or “all taxes. 2012 tax file ” Any Form 2848 with general references will be returned. 2012 tax file Line 4—Specific use not recorded on Centralized Authorization File (CAF). 2012 tax file   Certain matters cannot be recorded on the CAF system. 2012 tax file Examples of such matters include, but are not limited to, the following. 2012 tax file Requests for a private letter ruling or technical advice. 2012 tax file Applications for an employer identification number (EIN). 2012 tax file Claims filed on Form 843, Claim for Refund and Request for Abatement. 2012 tax file Corporate dissolutions. 2012 tax file Requests for change of accounting method. 2012 tax file Requests for change of accounting period. 2012 tax file Applications for recognition of exemption under sections 501(c)(3), 501(a), or 521 (Forms 1023, 1034, or 1028). 2012 tax file Request for a determination of the qualified status of an employee benefit plan (Forms 5300, 5307, or 5310). 2012 tax file Application for Award for Original Information under section 7623. 2012 tax file Voluntary submissions under the Employee Plans Compliance Resolution System (EPCRS). 2012 tax file Freedom of Information Act requests. 2012 tax file If the tax matter described on line 3 of Form 2848 concerns one of these matters specifically, check the box on line 4. 2012 tax file If this box is checked, the representative should mail or fax the power of attorney to the IRS office handling the matter. 2012 tax file Otherwise, the representative should bring a copy of the power of attorney to each meeting with the IRS. 2012 tax file Where To File a Power of Attorney Generally, you can mail or fax a paper Form 2848 directly to the IRS. 2012 tax file To determine where you should file Form 2848, see Where To File in the instructions for Form 2848. 2012 tax file If Form 2848 is for a specific use, mail or fax it to the office handling that matter. 2012 tax file For more information on specific use, see the Instructions for Form 2848, line 4. 2012 tax file FAX copies. 2012 tax file   The IRS will accept a copy of a power of attorney that is submitted by facsimile transmission (fax). 2012 tax file If you choose to file a power of attorney by fax, be sure the appropriate IRS office is equipped to accept this type of transmission. 2012 tax file Your representative may be able to file Form 2848 electronically via the IRS website. 2012 tax file For more information, your representative can go to www. 2012 tax file irs. 2012 tax file gov and under the Tax Professionals tab, click on e-services–Online Tools for Tax Professionals. 2012 tax file If you complete Form 2848 for electronic signature authorization, do not file Form 2848 with the IRS. 2012 tax file Instead, give it to your representative, who will retain the document. 2012 tax file Updating a power of attorney. 2012 tax file   Submit any update or modification to an existing power of attorney in writing. 2012 tax file Your signature (or the signature of the individual(s) authorized to sign on your behalf) is required. 2012 tax file Do this by sending the updated Form 2848 or non-IRS power of attorney to the IRS office(s) where you previously sent the original(s), including the center where the related return was, or will be filed. 2012 tax file   A recognized representative may substitute or delegate authority if you specifically authorize your representative to substitute or delegate representation in the original power of attorney. 2012 tax file To make a substitution or delegation, the representative must file the following items with the IRS office(s) where the power of attorney was filed. 2012 tax file A written notice of substitution or delegation signed by the recognized representative. 2012 tax file A written declaration of representative made by the new representative. 2012 tax file A copy of the power of attorney that specifically authorizes the substitution or delegation. 2012 tax file Retention/Revocation of Prior Power(s) of Attorney A newly filed power of attorney concerning the same matter will revoke a previously filed power of attorney. 2012 tax file However, the new power of attorney will not revoke the prior power of attorney if it specifically states it does not revoke such prior power of attorney and either of the following are attached to the new power of attorney. 2012 tax file A copy of the unrevoked prior power of attorney, or A statement signed by the taxpayer listing the name and address of each representative authorized under the prior unrevoked power of attorney. 2012 tax file Note. 2012 tax file The filing of Form 2848 will not revoke any  Form 8821 that is in effect. 2012 tax file Revocation of Power of Attorney/Withdrawal of Representative If you want to revoke an existing power of attorney and do not want to name a new representative, or if a representative wants to withdraw from representation, mail or fax a copy of the previously executed power of attorney to the IRS, or if the power of attorney is for a specific matter, to the IRS office handling the matter. 2012 tax file If the taxpayer is revoking the power of attorney, the taxpayer must write “REVOKE” across the top of the first page with a current signature and date below this annotation. 2012 tax file If the representative is withdrawing from the representation, the representative must write “WITHDRAW” across the top of the first page with a current signature and date below this annotation. 2012 tax file If you do not have a copy of the power of attorney you want to revoke or withdraw, send a statement to the IRS. 2012 tax file The statement of revocation or withdrawal must indicate that the authority of the power of attorney is revoked or withdrawn, list the matters and periods, and must be signed and dated by the taxpayer or representative as applicable. 2012 tax file If the taxpayer is revoking, list the name and address of each recognized representative whose authority is revoked. 2012 tax file When the taxpayer is completely revoking authority, the form should state “remove all years/periods” instead of listing the specific tax matter, years, or periods. 2012 tax file If the representative is withdrawing, list the name, TIN, and address (if known) of the taxpayer. 2012 tax file To revoke a specific use power of attorney, send the power of attorney or statement of revocation to the IRS office handling your case, using the above instructions. 2012 tax file A power of attorney held by a student will be recorded on the CAF system for 130 days from the receipt date. 2012 tax file If you are authorizing a student to represent you after that time, you will need to submit a current and valid Form 2848. 2012 tax file When Is a Power of Attorney Not Required? A power of attorney is not required when the third party is not dealing with the IRS as your representative. 2012 tax file The following situations do not require a power of attorney. 2012 tax file Providing information to the IRS. 2012 tax file Authorizing the disclosure of tax return information through Form 8821, Tax Information Authorization, or other written or oral disclosure consent. 2012 tax file Allowing the IRS to discuss return information with a third party via the checkbox provided on a tax return or other document. 2012 tax file Allowing a tax matters partner or person (TMP) to perform acts for the partnership. 2012 tax file Allowing the IRS to discuss return information with a fiduciary. 2012 tax file How Do I Fill Out Form 2848? The following example illustrates how to complete Form 2848. 2012 tax file The two completed forms for this example are shown on the next pages. 2012 tax file Example. 2012 tax file Stan and Mary Doe have been notified that their joint tax returns (Forms 1040) for 2009, 2010, and 2011 are being examined. 2012 tax file They have decided to appoint Jim Smith, an enrolled agent, to represent them in this matter and any future matters concerning these returns. 2012 tax file Jim, who has prepared returns at the same location for years, already has a Centralized Authorization File (CAF) number assigned to him. 2012 tax file Mary does not want Jim to sign any agreements on her behalf, but Stan is willing to have Jim do so. 2012 tax file They want copies of all notices and written communications sent to Jim. 2012 tax file This is the first time Stan and Mary have given power of attorney to anyone. 2012 tax file They should each complete a Form 2848 as follows. 2012 tax file Line 1—Taxpayer information. 2012 tax file   Stan and Mary must each file a separate Form 2848. 2012 tax file On his separate Form 2848, Stan enters his name, street address, and social security number in the spaces provided. 2012 tax file Mary does likewise on her separate Form 2848. 2012 tax file Line 2—Representative(s). 2012 tax file   On their separate Forms 2848, Stan and Mary each enters the name and current address of their chosen representative, Jim Smith. 2012 tax file Both Stan and Mary want Jim Smith to receive notices and communications concerning the matters identified in line 3, so on their separate Forms 2848, Stan and Mary each checks the box in the first column of line 2. 2012 tax file They also enter Mr. 2012 tax file Smith's CAF number, his telephone number, and his fax number. 2012 tax file Mr. 2012 tax file Smith's address, telephone number, and fax number have not changed since the IRS issued his CAF number, so Stan and Mary do not check the boxes in the second column. 2012 tax file Line 3—Tax Matters. 2012 tax file   On their separate Forms 2848, Stan and Mary each enters “income” for the type of tax, “1040” for the form number, and “2009, 2010, and 2011” for the tax years. 2012 tax file Line 4—Specific use not recorded on Centralized Authorization File (CAF). 2012 tax file   On their separate Forms 2848, Stan and Mary make no entry on this line because they do not want to restrict the use of their powers of attorney to a specific use that is not recorded on the CAF. 2012 tax file See Preparation of Form — Helpful Hints, earlier. 2012 tax file Line 5—Acts authorized. 2012 tax file   Mary wants to sign any agreement that reflects changes to her and Stan's joint 2009, 2010, and 2011 income tax liability, so she writes “Taxpayer must sign any agreement form” on line 5 of her Form 2848. 2012 tax file Stan does not wish to restrict the authority of Jim Smith in this regard, so he leaves line 5 of his Form 2848 blank. 2012 tax file If either Mary or Stan had chosen, they could have listed other restrictions on line 5 of their separate Forms 2848. 2012 tax file Line 6—Retention/revocation of prior power(s) of attorney. 2012 tax file   Stan and Mary are each filing their first powers of attorney, so they make no entry on this line. 2012 tax file However, if they had filed prior powers of attorney, the filing of this current power would revoke any earlier ones for the same tax matter(s) unless they checked the box on line 6 and attached a copy of the prior power of attorney that they wanted to remain in effect. 2012 tax file   If Mary later decides that she can handle the examination on her own, she can revoke her power of attorney even though Stan does not revoke his power of attorney. 2012 tax file (See Revocation of Power of Attorney/Withdrawal of Representative, earlier, for the special rules that apply. 2012 tax file ) Line 7—Signature of taxpayer. 2012 tax file   Stan and Mary each signs and dates his or her Form 2848. 2012 tax file If a taxpayer does not sign, the IRS cannot accept the form. 2012 tax file Part II—Declaration of Representative. 2012 tax file   Jim Smith must complete this part of Form 2848. 2012 tax file If he does not sign this part, the IRS cannot accept the form. 2012 tax file What Happens to the Power of Attorney When Filed? A power of attorney will be recognized after it is received, reviewed, and determined by the IRS to contain the required information. 2012 tax file However, until a power of attorney is entered on the CAF system, IRS personnel may be unaware of the authority of the person you have named to represent you. 2012 tax file Therefore, during this interim period, IRS personnel may request that you or your representative bring a copy to any meeting with the IRS. 2012 tax file This image is too large to be displayed in the current screen. 2012 tax file Please click the link to view the image. 2012 tax file Filled-in Form 2848 - Page 1 This image is too large to be displayed in the current screen. 2012 tax file Please click the link to view the image. 2012 tax file Filled-in Form 2848 - Page 2 This image is too large to be displayed in the current screen. 2012 tax file Please click the link to view the image. 2012 tax file Filled-in Form 2848 - Page 1 This image is too large to be displayed in the current screen. 2012 tax file Please click the link to view the image. 2012 tax file Filled-in Form 2848 - Page 2 Processing and Handling How the power of attorney is processed and handled depends on whether it is a complete or incomplete document. 2012 tax file Incomplete document. 2012 tax file   If Form 2848 is incomplete, the IRS will attempt to secure the missing information either by writing or telephoning you or your representative. 2012 tax file For example, if your signature or signature date is missing, the IRS will contact you. 2012 tax file If information concerning your representative is missing and information sufficient to make a contact (such as an address and/or a telephone number) is on the document, the IRS will try to contact your representative. 2012 tax file   In either case, the power of attorney is not considered valid until all required information is entered on the document. 2012 tax file The individual(s) named as representative(s) will not be recognized to practice before the IRS, on your behalf, until the document is complete and accepted by the IRS. 2012 tax file Complete document. 2012 tax file   If the power of attorney is complete and valid, the IRS will take action to recognize the representative. 2012 tax file In most instances, this includes processing the document on the CAF system. 2012 tax file Recording the data on the CAF system enables the IRS to direct copies of mailings to authorized representatives and to readily recognize the scope of authority granted. 2012 tax file Documents not processed on CAF. 2012 tax file   Specific-use powers of attorney are not processed on the CAF system (see Preparation of Form – Helpful Hints, earlier). 2012 tax file For example, a power of attorney that is a one-time or specific-issue grant of authority is not processed on the CAF system. 2012 tax file These documents remain with the related case files. 2012 tax file In this situation, you should check the box on line 4 of Form 2848. 2012 tax file In these situations, the representative should bring a copy of the power of attorney to each meeting with the IRS. 2012 tax file Dealing With the Representative After a valid power of attorney is filed, the IRS will recognize your representative. 2012 tax file However, if it appears the representative is responsible for unreasonably delaying or hindering the prompt disposition of an IRS matter by failing to furnish, after repeated requests, nonprivileged information, the IRS can contact you directly. 2012 tax file For example, in most instances in which a power of attorney is recognized, the IRS will contact the representative to set up appointments and to provide lists of required items. 2012 tax file However, if the representative is unavailable, does not respond to repeated requests, and does not provide required items (other than items considered privileged), the IRS can bypass your representative and contact you directly. 2012 tax file If a representative engages in conduct described above, the matter can be referred to the Office of Professional Responsibility for consideration of possible disciplinary action. 2012 tax file Notices and other correspondence. 2012 tax file   If you have a recognized representative, you and the representative will routinely receive notices and other correspondence from the IRS (either the original or a copy) if you checked the box in the left column of line 2 of Form 2848. 2012 tax file If the power of attorney is processed on the CAF system, the IRS will send your representative(s) a duplicate of all computer-generated correspondence that is sent to you. 2012 tax file This includes notices and letters produced either at the Martinsburg Computing Center, or other IRS centers. 2012 tax file The IRS employee handling the case is responsible for ensuring that the original and any requested copies of each manually-generated correspondence are sent to you and your representative(s) in accordance with your authorization. 2012 tax file How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. 2012 tax file By selecting the method that is best for you, you will have quick and easy access to tax help. 2012 tax file Free help with your return. 2012 tax file   Free help in preparing your return is available nationwide from IRS-certified volunteers. 2012 tax file The Volunteer Income Tax Assistance (VITA) program is designed to help low and moderate income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. 2012 tax file Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2012 tax file To find the nearest VITA or TCE site, visit IRS. 2012 tax file gov or call 1-800-906-9887 or 1-800-829-1040. 2012 tax file   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2012 tax file To find the nearest AARP Tax-Aide site, call 1-888-227-7669 or visit AARP's website at www. 2012 tax file aarp. 2012 tax file org/money/taxaide. 2012 tax file   For more information on these programs, go to IRS. 2012 tax file gov and enter keyword “VITA” in the upper right-hand corner. 2012 tax file Internet. 2012 tax file You can access the IRS website at IRS. 2012 tax file gov 24 hours a day, 7 days a week to: E-file your return. 2012 tax file Find out about commercial tax preparation and e-file services available free to eligible taxpayers. 2012 tax file Check the status of your refund. 2012 tax file Go to IRS. 2012 tax file gov and click on Where's My Refund. 2012 tax file Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. 2012 tax file If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). 2012 tax file Have your tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. 2012 tax file Download forms, including talking tax forms, instructions, and publications. 2012 tax file Order IRS products online. 2012 tax file Research your tax questions online. 2012 tax file Search publications online by topic or keyword. 2012 tax file Use the online Internal Revenue Code, regulations, or other official guidance. 2012 tax file View Internal Revenue Bulletins (IRBs) published in the last few years. 2012 tax file Figure your withholding allowances using the withholding calculator online at www. 2012 tax file irs. 2012 tax file gov/individuals. 2012 tax file Determine if Form 6251 must be filed by using our Alternative Minimum Tax (AMT) Assistant available online at www. 2012 tax file irs. 2012 tax file gov/individuals. 2012 tax file Sign up to receive local and national tax news by email. 2012 tax file Get information on starting and operating a small business. 2012 tax file Phone. 2012 tax file Many services are available by phone. 2012 tax file   Ordering forms, instructions, and publications. 2012 tax file Call 1-800-TAX -FORM (1-800-829-3676) to order current-year forms, instructions, and publications, and prior-year forms and instructions. 2012 tax file You should receive your order within 10 days. 2012 tax file Asking tax questions. 2012 tax file Call the IRS with your tax questions at 1-800-829-1040. 2012 tax file Solving problems. 2012 tax file You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. 2012 tax file An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. 2012 tax file Call your local Taxpayer Assistance Center for an appointment. 2012 tax file To find the number, go to www. 2012 tax file irs. 2012 tax file gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. 2012 tax file TTY/TDD equipment. 2012 tax file If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. 2012 tax file TeleTax topics. 2012 tax file Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. 2012 tax file Refund information. 2012 tax file To check the status of your refund, call 1-800-829-1954 or 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). 2012 tax file Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. 2012 tax file If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). 2012 tax file Have your tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. 2012 tax file If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. 2012 tax file Other refund information. 2012 tax file To check the status of a prior-year refund or amended return refund, call 1-800-829-1040. 2012 tax file Evaluating the quality of our telephone services. 2012 tax file To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. 2012 tax file One method is for a second IRS representative to listen in on or record random telephone calls. 2012 tax file Another is to ask some callers to complete a short survey at the end of the call. 2012 tax file Walk-in. 2012 tax file Many products and services are available on a walk-in basis. 2012 tax file   Products. 2012 tax file You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2012 tax file Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD or photocopy from reproducible proofs. 2012 tax file Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. 2012 tax file Services. 2012 tax file You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. 2012 tax file An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. 2012 tax file If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. 2012 tax file No appointment is necessary—just walk in. 2012 tax file If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. 2012 tax file A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. 2012 tax file If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. 2012 tax file All other issues will be handled without an appointment. 2012 tax file To find the number of your local office, go to  www. 2012 tax file irs. 2012 tax file gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. 2012 tax file Mail. 2012 tax file You can send your order for forms, instructions, and publications to the address below. 2012 tax file You should receive a response within 10 days after your request is received. 2012 tax file  Internal Revenue Service 1201 N. 2012 tax file Mitsubishi Motorway Bloomington, IL 61705-6613 Taxpayer Advocate Service. 2012 tax file   The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2012 tax file Our job is to ensure that every taxpayer is treated fairly, and that you know and understand your rights. 2012 tax file We offer free help to guide you through the often-confusing process of resolving tax problems that you haven’t been able to solve on your own. 2012 tax file Remember, the worst thing you can do is nothing at all. 2012 tax file   TAS can help if you can’t resolve your problem with the IRS and: Your problem is causing financial difficulties for you, your family, or your business. 2012 tax file You face (or your business is facing) an immediate threat of adverse action. 2012 tax file You have tried repeatedly to contact the IRS but no one has responded, or the IRS has not responded to you by the date promised. 2012 tax file   If you qualify for our help, we’ll do everything we can to get your problem resolved. 2012 tax file You will be assigned to one advocate who will be with you at every turn. 2012 tax file We have offices in every state, the District of Columbia, and Puerto Rico. 2012 tax file Although TAS is independent within the IRS, our advocates know how to work with the IRS to get your problems resolved. 2012 tax file And our services are always free. 2012 tax file   As a taxpayer, you have rights that the IRS must abide by in its dealings with you. 2012 tax file Our tax toolkit at www. 2012 tax file TaxpayerAdvocate. 2012 tax file irs. 2012 tax file gov can help you understand these rights. 2012 tax file   If you think TAS might be able to help you, call your local advocate, whose number is in your phone book and on our website at www. 2012 tax file irs. 2012 tax file gov/advocate. 2012 tax file You can also call our toll-free number at 1-877-777-4778 or TTY/TDD 1-800-829-4059. 2012 tax file   TAS also handles large-scale or systemic problems that affect many taxpayers. 2012 tax file If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. 2012 tax file irs. 2012 tax file gov/advocate. 2012 tax file Low Income Taxpayer Clinics (LITCs). 2012 tax file   Low Income Taxpayer Clinics (LITCs) are independent from the IRS. 2012 tax file Some clinics serve individuals whose income is below a certain level and who need to resolve a tax problem. 2012 tax file These clinics provide professional representation before the IRS or in court on audits, appeals, tax collection disputes, and other issues for free or for a small fee. 2012 tax file Some clinics can provide information about taxpayer rights and responsibilities in many different languages for individuals who speak English as a second language. 2012 tax file For more information and to find a clinic near you, see the LITC page on www. 2012 tax file irs. 2012 tax file gov/advocate or IRS Publication 4134, Low Income Taxpayer Clinic List. 2012 tax file This publication is also available by calling 1-800-829-3676 or at your local IRS office. 2012 tax file Free tax services. 2012 tax file   Publication 910, IRS Guide to Free Tax Services, is your guide to IRS services and resources. 2012 tax file Learn about free tax information from the IRS, including publications, services, and education and assistance programs. 2012 tax file The publication also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on the telephone. 2012 tax file The majority of the information and services listed in this publication are available to you free of charge. 2012 tax file If there is a fee associated with a resource or service, it is listed in the publication. 2012 tax file   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. 2012 tax file DVD for tax products. 2012 tax file You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. 2012 tax file Prior-year forms, instructions, and publications. 2012 tax file Tax Map: an electronic research tool and finding aid. 2012 tax file Tax law frequently asked questions. 2012 tax file Tax Topics from the IRS telephone response system. 2012 tax file Internal Revenue Code—Title 26 of the U. 2012 tax file S. 2012 tax file Code. 2012 tax file Links to other Internet based Tax Research Materials. 2012 tax file Fill-in, print, and save features for most tax forms. 2012 tax file Internal Revenue Bulletins. 2012 tax file Toll-free and email technical support. 2012 tax file Two releases during the year. 2012 tax file  – The first release will ship the beginning of January. 2012 tax file  – The final release will ship the beginning of March. 2012 tax file Purchase the DVD from National Technical Information Service (NTIS) at www. 2012 tax file irs. 2012 tax file gov/cdorders for $30 (no handling fee) or call 1-877-233-6767 toll free to buy the DVD for $30 (plus a $6 handling fee). 2012 tax file Prev  Up  Next   Home   More Online Publications