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2012 Tax Forms

State Tax ExtensionAmendment To Taxes1040ez 2012Free Irs FilingIrs 1040-ez 2014 InstructionsState Tax Online Filing2010 Tax Form 1040I Need To File My 2010 TaxesDoes Military Pay State TaxesTax Return Forms 2011Free Taxes H&r BlockForm 1040x For 2012Irs Tax Form 1040 EzFree Tax Filing1040ez Instructions 2012Myfreetax.com2011 Tax Filing DeadlineInstructions Michigan 2012 Mi 1040xFree State Taxes OnlineTax Extension Online FreeHow To File A 1040xFree Tax Form 1040ezH And R Block FreeFree State Filing TurbotaxTax Amendment FormFree Tax Filing 2012Tax Planning Us Back TaxesIrs 1040x Form Instructions2012 Amended Federal Tax Return FormTaxes For StudentsIs It Too Late To File 2012 Tax Return2013 1040ez FormFiling 2010 Taxes Online FreeIrs Extention FormsWhere Can I Get A 1040x Tax FormFree Tax Filing Hr BlockH And R Block Free FileAmend State TaxesHr Block OnlineTurbo Tax 2006

2012 Tax Forms

2012 tax forms Index A Adjusted basis, Adjusted Basis Assessments For local benefits, Assessments for local benefits. 2012 tax forms Homeowners association, Homeowners association assessments. 2012 tax forms Assistance (see Tax help) B Basis, Basis C Certificate, mortgage credit, Who qualifies. 2012 tax forms Construction, Construction. 2012 tax forms Cooperatives, Special Rules for Cooperatives, Cooperative apartment. 2012 tax forms Cost basis, Cost as Basis Credit Mortgage interest, Mortgage Interest Credit D Deduction Home mortgage interest, Deductible Mortgage Interest Real estate taxes, Deductible Real Estate Taxes E Emergency Homeowners' Loan Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs Escrow accounts, Escrow accounts. 2012 tax forms F Fire insurance premiums, Items not added to basis and not deductible. 2012 tax forms Form 1098, Mortgage Interest Statement 8396, How to claim the credit. 2012 tax forms , Figuring the Credit Free tax services, Free help with your tax return. 2012 tax forms G Gift of home, Gift Ground rent, Ground rent. 2012 tax forms H Help (see Tax help) HFA Hardest Hit Fund, Hardest Hit Fund and Emergency Homeowners' Loan Programs Home Acquisition debt, Home Acquisition Debt Inherited, Inheritance Mortgage interest, Home Mortgage Interest Purchase of, Purchase. 2012 tax forms Received as gift, Gift Homeowners association assessments, Homeowners association assessments. 2012 tax forms House payment, Your house payment. 2012 tax forms Housing allowance, minister or military, Minister's or military housing allowance. 2012 tax forms I Improvements, Improvements. 2012 tax forms Inheritance, Inheritance Insurance, Nondeductible payments. 2012 tax forms , Items not added to basis and not deductible. 2012 tax forms Interest Home mortgage, Home Mortgage Interest Prepaid, Prepaid interest. 2012 tax forms K Keeping records, Keeping Records L Late payment charge, Late payment charge on mortgage payment. 2012 tax forms Local benefits, assessments for, Assessments for local benefits. 2012 tax forms M MCC (Mortgage credit certificate), Who qualifies. 2012 tax forms Minister's or military housing allowance, Minister's or military housing allowance. 2012 tax forms Mortgage credit certificate (MCC), Who qualifies. 2012 tax forms Mortgage debt forgiveness, Discharges of qualified principal residence indebtedness. 2012 tax forms Mortgage insurance premiums, Mortgage Insurance Premiums Mortgage interest Credit, Mortgage Interest Credit Deduction, Deductible Mortgage Interest Late payment charge, Late payment charge on mortgage payment. 2012 tax forms Paid at settlement, Mortgage Interest Paid at Settlement Refund, Refund of home mortgage interest. 2012 tax forms , Refund of overpaid interest. 2012 tax forms Statement, Mortgage Interest Statement Mortgage prepayment penalty, Mortgage prepayment penalty. 2012 tax forms N Nondeductible payments, Nondeductible payments. 2012 tax forms , Items not added to basis and not deductible. 2012 tax forms P Points, Points Prepaid interest, Prepaid interest. 2012 tax forms Publications (see Tax help) R Real estate taxes, Real Estate Taxes Deductible, Deductible Real Estate Taxes Paid at settlement or closing, Real estate taxes paid at settlement or closing. 2012 tax forms , Real estate taxes. 2012 tax forms Refund or rebate, Refund or rebate of real estate taxes. 2012 tax forms Recordkeeping, Keeping Records Refund of Mortgage interest, Refund of home mortgage interest. 2012 tax forms , Refund of overpaid interest. 2012 tax forms Real estate taxes, Refund or rebate of real estate taxes. 2012 tax forms Repairs, Repairs versus improvements. 2012 tax forms S Sales taxes, Sales Taxes Settlement or closing costs Basis of home, Settlement or closing costs. 2012 tax forms Mortgage interest, Mortgage Interest Paid at Settlement Real estate taxes, Real estate taxes paid at settlement or closing. 2012 tax forms , Real estate taxes. 2012 tax forms Stamp taxes, Transfer taxes (or stamp taxes). 2012 tax forms Statement, mortgage interest, Mortgage Interest Statement T Tax help, How To Get Tax Help Taxes Real estate, Real Estate Taxes, Refund of real estate taxes. 2012 tax forms Transfer taxes, Transfer taxes (or stamp taxes). 2012 tax forms W What you can and cannot deduct, What You Can and Cannot Deduct Prev  Up     Home   More Online Publications
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Uncertain Tax Positions - Schedule UTP

Third Year of Uncertain Tax Position Reporting

The IRS is currently reviewing its third year of returns filed with Schedule UTP. Beginning with Tax Year 2010, Schedule UTP was a new schedule that certain corporations  used to report uncertain tax positions. Additionally, with Announcement 2010-76, the IRS expanded its policy of restraint in connection with its decision to require certain corporations to file Schedule UTP. Directives to LB&I personnel have been issued setting forth the IRS’s planned treatment of these UTPs by examiners and other personnel.

Submit your questions, comments, or concerns regarding Schedule UTP to the IRS. Although individual responses will not be provided, the IRS will consider submissions in efforts to improve Schedule UTP.

Information about UTP Education and Outreach Efforts:

LB&I is undertaking an education and outreach effort regarding Schedule UTP. LB&I will mail letters to inform certain taxpayers that a review of their Schedule UTP determined that one or more of the concise descriptions they provided did not meet the requirements set forth in the Schedule UTP instructions. If the taxpayer has a valid Power of Attorney on file with the IRS, the Power of Attorney will also receive a copy of this letter.

While the letter requires no action by taxpayers regarding their Schedule UTP, taxpayers are advised to ensure that on any future filings of a Schedule UTP, the concise descriptions follow the Schedule UTP Instructions. All returns filed with a Schedule UTP will continue to be subject to a review in LB&I.

Taxpayers with questions about the letter or the concise descriptions are being referred to this WEB Site.

Related Documents:

Date

Document

Document Description or Originator

 

 

Forms

Instructions

2013 Form 1120 Schedule UTP Instructions for Form 1120 Schedule UTP
2012 Form 1120 Schedule UTP Instructions for Form 1120 Schedule UTP
2011 Form 1120 Schedule UTP Instructions for Form 1120 Schedule UTP
2010 Form 1120 Schedule UTP Instructions for Form 1120 Schedule UTP
 
IRS Pronouncements:
09-24-10 Announcement 2010-76, Policy of Restraint and Uncertain Tax Positions Impact of the Policy of Restraint on Uncertain Tax Positions. 
09-24-10 Announcement 2010-75, Reporting of Uncertain Tax Positions Reporting of Uncertain Tax Positions.
04-19-10 Announcement 2010-30 Schedule UTP draft form and instructions.
03-05-10 Announcement 2010-17 Extension for comment request for Uncertain Tax Position reporting requirements.
01-26-10 Announcement 2010-9 Comment request for Uncertain Tax Position reporting requirements.
 
IRS and LB&I Guidance Memorandums:
05-31-13 Guidance for Preparing UTP Concise Descriptions Specific Guidance
11-01-11

UTP Guidance and Procedures for the Field

Cover memo by Commissioner, LB&I    
11-01-11 LB&I Schedule UTP Guidance Specific guidance
08-31-11 UTP Guidance and Procedures for the Compliance Assurance Process (CAP) Program Commissioner, LB&I memo
05-11-11

Centralized Management of LB&I Returns with UTP Schedules

Commissioner, LB&I memo
03-23-11 Uncertain Tax Positions - Modified Policy of Restraint Commissioner, LB&I memo
09-24-10 Directive for LB&I: Reporting of Uncertain Tax Positions Deputy Commissioner, Services and Enforcement
 
Public Statements and Comments by IRS Executives:
03-26-12 IRS Deputy Commissioner, Service and Enforcement Remarks before Tax Executives Institute  Remarks of Steven T. Miller, Deputy Commissioner, Service and Enforcement Internal Revenue Service Before the Tax Executives Institute, Mid Year Conference
09-24-10 IRS Commissioner Shulman Remarks before the American Bar Association, 9/24/2010   
04-12-10 Remarks of IRS Commissioner Shulman at the Tax Executives Institute Mid-Year Meeting   
01-26-10 IR-2010-13 Remarks of IRS Commissioner Doug Shulman to the New York State Bar Association Taxation Section Annual Meeting
 
Other Documents:
02-04-14 UTP Filing Statistics  
03-14-13 Frequently Asked Questions  

 

Page Last Reviewed or Updated: 26-Feb-2014

The 2012 Tax Forms

2012 tax forms 1. 2012 tax forms   Definitions You Need To Know Table of Contents Other options. 2012 tax forms Exception. 2012 tax forms Certain terms used in this publication are defined below. 2012 tax forms The same term used in another publication may have a slightly different meaning. 2012 tax forms Annual additions. 2012 tax forms   Annual additions are the total of all your contributions in a year, employee contributions (not including rollovers), and forfeitures allocated to a participant's account. 2012 tax forms Annual benefits. 2012 tax forms   Annual benefits are the benefits to be paid yearly in the form of a straight life annuity (with no extra benefits) under a plan to which employees do not contribute and under which no rollover contributions are made. 2012 tax forms Business. 2012 tax forms   A business is an activity in which a profit motive is present and economic activity is involved. 2012 tax forms Service as a newspaper carrier under age 18 or as a public official is not a business. 2012 tax forms Common-law employee. 2012 tax forms   A common-law employee is any individual who, under common law, would have the status of an employee. 2012 tax forms A leased employee can also be a common-law employee. 2012 tax forms   A common-law employee is a person who performs services for an employer who has the right to control and direct the results of the work and the way in which it is done. 2012 tax forms For example, the employer: Provides the employee's tools, materials, and workplace, and Can fire the employee. 2012 tax forms   Common-law employees are not self-employed and cannot set up retirement plans for income from their work, even if that income is self-employment income for social security tax purposes. 2012 tax forms For example, common-law employees who are ministers, members of religious orders, full-time insurance salespeople, and U. 2012 tax forms S. 2012 tax forms citizens employed in the United States by foreign governments cannot set up retirement plans for their earnings from those employments, even though their earnings are treated as self-employment income. 2012 tax forms   However, an individual may be a common-law employee and a self-employed person as well. 2012 tax forms For example, an attorney can be a corporate common-law employee during regular working hours and also practice law in the evening as a self-employed person. 2012 tax forms In another example, a minister employed by a congregation for a salary is a common-law employee even though the salary is treated as self-employment income for social security tax purposes. 2012 tax forms However, fees reported on Schedule C (Form 1040), Profit or Loss From Business, for performing marriages, baptisms, and other personal services are self-employment earnings for qualified plan purposes. 2012 tax forms Compensation. 2012 tax forms   Compensation for plan allocations is the pay a participant received from you for personal services for a year. 2012 tax forms You can generally define compensation as including all the following payments. 2012 tax forms Wages and salaries. 2012 tax forms Fees for professional services. 2012 tax forms Other amounts received (cash or noncash) for personal services actually rendered by an employee, including, but not limited to, the following items. 2012 tax forms Commissions and tips. 2012 tax forms Fringe benefits. 2012 tax forms Bonuses. 2012 tax forms   For a self-employed individual, compensation means the earned income, discussed later, of that individual. 2012 tax forms   Compensation generally includes amounts deferred in the following employee benefit plans. 2012 tax forms These amounts are elective deferrals. 2012 tax forms Qualified cash or deferred arrangement (section 401(k) plan). 2012 tax forms Salary reduction agreement to contribute to a tax-sheltered annuity (section 403(b) plan), a SIMPLE IRA plan, or a SARSEP. 2012 tax forms Section 457 nonqualified deferred compensation plan. 2012 tax forms Section 125 cafeteria plan. 2012 tax forms   However, an employer can choose to exclude elective deferrals under the above plans from the definition of compensation. 2012 tax forms The limit on elective deferrals is discussed in chapter 2 under Salary Reduction Simplified Employee Pension (SARSEP) and in chapter 4. 2012 tax forms Other options. 2012 tax forms   In figuring the compensation of a participant, you can treat any of the following amounts as the employee's compensation. 2012 tax forms The employee's wages as defined for income tax withholding purposes. 2012 tax forms The employee's wages you report in box 1 of Form W-2, Wage and Tax Statement. 2012 tax forms The employee's social security wages (including elective deferrals). 2012 tax forms   Compensation generally cannot include either of the following items. 2012 tax forms Nontaxable reimbursements or other expense allowances. 2012 tax forms Deferred compensation (other than elective deferrals). 2012 tax forms SIMPLE plans. 2012 tax forms   A special definition of compensation applies for SIMPLE plans. 2012 tax forms See chapter 3. 2012 tax forms Contribution. 2012 tax forms   A contribution is an amount you pay into a plan for all those participating in the plan, including self-employed individuals. 2012 tax forms Limits apply to how much, under the contribution formula of the plan, can be contributed each year for a participant. 2012 tax forms Deduction. 2012 tax forms   A deduction is the plan contributions you can subtract from gross income on your federal income tax return. 2012 tax forms Limits apply to the amount deductible. 2012 tax forms Earned income. 2012 tax forms   Earned income is net earnings from self-employment, discussed later, from a business in which your services materially helped to produce the income. 2012 tax forms   You can also have earned income from property your personal efforts helped create, such as royalties from your books or inventions. 2012 tax forms Earned income includes net earnings from selling or otherwise disposing of the property, but it does not include capital gains. 2012 tax forms It includes income from licensing the use of property other than goodwill. 2012 tax forms   Earned income includes amounts received for services by self-employed members of recognized religious sects opposed to social security benefits who are exempt from self-employment tax. 2012 tax forms   If you have more than one business, but only one has a retirement plan, only the earned income from that business is considered for that plan. 2012 tax forms Employer. 2012 tax forms   An employer is generally any person for whom an individual performs or did perform any service, of whatever nature, as an employee. 2012 tax forms A sole proprietor is treated as his or her own employer for retirement plan purposes. 2012 tax forms However, a partner is not an employer for retirement plan purposes. 2012 tax forms Instead, the partnership is treated as the employer of each partner. 2012 tax forms Highly compensated employee. 2012 tax forms   A highly compensated employee is an individual who: Owned more than 5% of the interest in your business at any time during the year or the preceding year, regardless of how much compensation that person earned or received, or For the preceding year, received compensation from you of more than $115,000 (if the preceding year is 2012, 2013, or 2014) and, if you so choose, was in the top 20% of employees when ranked by compensation. 2012 tax forms Leased employee. 2012 tax forms   A leased employee who is not your common-law employee must generally be treated as your employee for retirement plan purposes if he or she does all the following. 2012 tax forms Provides services to you under an agreement between you and a leasing organization. 2012 tax forms Has performed services for you (or for you and related persons) substantially full time for at least 1 year. 2012 tax forms Performs services under your primary direction or control. 2012 tax forms Exception. 2012 tax forms   A leased employee is not treated as your employee if all the following conditions are met. 2012 tax forms Leased employees are not more than 20% of your non-highly compensated work force. 2012 tax forms The employee is covered under the leasing organization's qualified pension plan. 2012 tax forms The leasing organization's plan is a money purchase pension plan that has all the following provisions. 2012 tax forms Immediate participation. 2012 tax forms (This requirement does not apply to any individual whose compensation from the leasing organization in each plan year during the 4-year period ending with the plan year is less than $1,000. 2012 tax forms ) Full and immediate vesting. 2012 tax forms A nonintegrated employer contribution rate of at least 10% of compensation for each participant. 2012 tax forms However, if the leased employee is your common-law employee, that employee will be your employee for all purposes, regardless of any pension plan of the leasing organization. 2012 tax forms Net earnings from self-employment. 2012 tax forms   For SEP and qualified plans, net earnings from self-employment is your gross income from your trade or business (provided your personal services are a material income-producing factor) minus allowable business deductions. 2012 tax forms Allowable deductions include contributions to SEP and qualified plans for common-law employees and the deduction allowed for the deductible part of your self-employment tax. 2012 tax forms   Net earnings from self-employment does not include items excluded from gross income (or their related deductions) other than foreign earned income and foreign housing cost amounts. 2012 tax forms   For the deduction limits, earned income is net earnings for personal services actually rendered to the business. 2012 tax forms You take into account the income tax deduction for the deductible part of self-employment tax and the deduction for contributions to the plan made on your behalf when figuring net earnings. 2012 tax forms   Net earnings include a partner's distributive share of partnership income or loss (other than separately stated items, such as capital gains and losses). 2012 tax forms It does not include income passed through to shareholders of S corporations. 2012 tax forms Guaranteed payments to limited partners are net earnings from self-employment if they are paid for services to or for the partnership. 2012 tax forms Distributions of other income or loss to limited partners are not net earnings from self-employment. 2012 tax forms   For SIMPLE plans, net earnings from self-employment is the amount on line 4 of Short Schedule SE or line 6 of Long Schedule SE (Form 1040), Self-Employment Tax, before subtracting any contributions made to the SIMPLE plan for yourself. 2012 tax forms Qualified plan. 2012 tax forms   A qualified plan is a retirement plan that offers a tax-favored way to save for retirement. 2012 tax forms You can deduct contributions made to the plan for your employees. 2012 tax forms Earnings on these contributions are generally tax free until distributed at retirement. 2012 tax forms Profit-sharing, money purchase, and defined benefit plans are qualified plans. 2012 tax forms A 401(k) plan is also a qualified plan. 2012 tax forms Participant. 2012 tax forms   A participant is an eligible employee who is covered by your retirement plan. 2012 tax forms See the discussions of the different types of plans for the definition of an employee eligible to participate in each type of plan. 2012 tax forms Partner. 2012 tax forms   A partner is an individual who shares ownership of an unincorporated trade or business with one or more persons. 2012 tax forms For retirement plans, a partner is treated as an employee of the partnership. 2012 tax forms Self-employed individual. 2012 tax forms   An individual in business for himself or herself, and whose business is not incorporated, is self-employed. 2012 tax forms Sole proprietors and partners are self-employed. 2012 tax forms Self-employment can include part-time work. 2012 tax forms   Not everyone who has net earnings from self-employment for social security tax purposes is self-employed for qualified plan purposes. 2012 tax forms See Common-law employee and Net earnings from self-employment , earlier. 2012 tax forms   In addition, certain fishermen may be considered self-employed for setting up a qualified plan. 2012 tax forms See Publication 595, Capital Construction Fund for Commercial Fishermen, for the special rules used to determine whether fishermen are self-employed. 2012 tax forms Sole proprietor. 2012 tax forms   A sole proprietor is an individual who owns an unincorporated business by himself or herself, including a single member limited liability company that is treated as a disregarded entity for tax purposes. 2012 tax forms For retirement plans, a sole proprietor is treated as both an employer and an employee. 2012 tax forms Prev  Up  Next   Home   More Online Publications