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Amended Tax Return

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Amended Tax Return

Amended tax return 6. Amended tax return   Insurance Table of Contents What's New Introduction Topics - This chapter discusses: Useful Items - You may want to see: Deductible PremiumsSelf-Employed Health Insurance Deduction Nondeductible Premiums Capitalized Premiums When To Deduct Premiums What's New Retiree drug subsidy. Amended tax return  Beginning in 2013, sponsors of certain qualified retiree prescription drug plans must account for the subsidy received by reducing the amount of qualified retiree prescription drug plans expense by the subsidy received (taking into account the taxpayer's accounting method). Amended tax return For more information, see the retiree drug subsidy frequently asked questions on IRS. Amended tax return gov. Amended tax return Introduction You generally can deduct the ordinary and necessary cost of insurance as a business expense if it is for your trade, business, or profession. Amended tax return However, you may have to capitalize certain insurance costs under the uniform capitalization rules. Amended tax return For more information, see Capitalized Premiums , later. Amended tax return Topics - This chapter discusses: Deductible premiums Nondeductible premiums Capitalized premiums When to deduct premiums Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 525 Taxable and Nontaxable Income 538 Accounting Periods and Methods 547 Casualties, Disasters, and Thefts Form (and Instructions) 1040 U. Amended tax return S. Amended tax return Individual Income Tax Return See chapter 12 for information about getting publications and forms. Amended tax return Deductible Premiums You generally can deduct premiums you pay for the following kinds of insurance related to your trade or business. Amended tax return Insurance that covers fire, storm, theft, accident, or similar losses. Amended tax return Credit insurance that covers losses from business bad debts. Amended tax return Group hospitalization and medical insurance for employees, including long-term care insurance. Amended tax return If a partnership pays accident and health insurance premiums for its partners, it generally can deduct them as guaranteed payments to partners. Amended tax return If an S corporation pays accident and health insurance premiums for its more-than-2% shareholder-employees, it generally can deduct them, but must also include them in the shareholder's wages subject to federal income tax withholding. Amended tax return See Publication 15-B. Amended tax return Liability insurance. Amended tax return Malpractice insurance that covers your personal liability for professional negligence resulting in injury or damage to patients or clients. Amended tax return Workers' compensation insurance set by state law that covers any claims for bodily injuries or job-related diseases suffered by employees in your business, regardless of fault. Amended tax return If a partnership pays workers' compensation premiums for its partners, it generally can deduct them as guaranteed payments to partners. Amended tax return If an S corporation pays workers' compensation premiums for its more-than-2% shareholder-employees, it generally can deduct them, but must also include them in the shareholder's wages. Amended tax return Contributions to a state unemployment insurance fund are deductible as taxes if they are considered taxes under state law. Amended tax return Overhead insurance that pays for business overhead expenses you have during long periods of disability caused by your injury or sickness. Amended tax return Car and other vehicle insurance that covers vehicles used in your business for liability, damages, and other losses. Amended tax return If you operate a vehicle partly for personal use, deduct only the part of the insurance premium that applies to the business use of the vehicle. Amended tax return If you use the standard mileage rate to figure your car expenses, you cannot deduct any car insurance premiums. Amended tax return Life insurance covering your officers and employees if you are not directly or indirectly a beneficiary under the contract. Amended tax return Business interruption insurance that pays for lost profits if your business is shut down due to a fire or other cause. Amended tax return Self-Employed Health Insurance Deduction You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for yourself, your spouse, and your dependents. Amended tax return The insurance can also cover your child who was under age 27 at the end of 2013, even if the child was not your dependent. Amended tax return A child includes your son, daughter, stepchild, adopted child, or foster child. Amended tax return A foster child is any child placed with you by an authorized placement agency or by judgment, decree, or other order of any court of competent jurisdiction. Amended tax return One of the following statements must be true. Amended tax return You were self-employed and had a net profit for the year reported on Schedule C (Form 1040), Profit or Loss From Business; Schedule C-EZ (Form 1040), Net Profit From Business; or Schedule F (Form 1040), Profit or Loss From Farming. Amended tax return You were a partner with net earnings from self-employment for the year reported on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Amended tax return , box 14, code A. Amended tax return You used one of the optional methods to figure your net earnings from self-employment on Schedule SE. Amended tax return You received wages in 2013 from an S corporation in which you were a more-than-2% shareholder. Amended tax return Health insurance premiums paid or reimbursed by the S corporation are shown as wages on Form W-2, Wage and Tax Statement. Amended tax return The insurance plan must be established, or considered to be established as discussed in the following bullets, under your business. Amended tax return For self-employed individuals filing a Schedule C, C-EZ, or F, a policy can be either in the name of the business or in the name of the individual. Amended tax return For partners, a policy can be either in the name of the partnership or in the name of the partner. Amended tax return You can either pay the premiums yourself or your partnership can pay them and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. Amended tax return However, if the policy is in your name and you pay the premiums yourself, the partnership must reimburse you and report the premium amounts on Schedule K-1 (Form 1065) as guaranteed payments to be included in your gross income. Amended tax return Otherwise, the insurance plan will not be considered to be established under your business. Amended tax return For more-than-2% shareholders, a policy can be either in the name of the S corporation or in the name of the shareholder. Amended tax return You can either pay the premiums yourself or your S corporation can pay them and report the premium amounts on Form W-2 as wages to be included in your gross income. Amended tax return However, if the policy is in your name and you pay the premiums yourself, the S corporation must reimburse you and report the premium amounts on Form W-2 as wages to be included in your gross income. Amended tax return Otherwise, the insurance plan will not be considered to be established under your business. Amended tax return Medicare premiums you voluntarily pay to obtain insurance in your name that is similar to qualifying private health insurance can be used to figure the deduction. Amended tax return If you previously filed returns without using Medicare premiums to figure the deduction, you can file timely amended returns to refigure the deduction. Amended tax return For more information, see Form 1040X, Amended U. Amended tax return S. Amended tax return Individual Income Tax Return. Amended tax return Amounts paid for health insurance coverage from retirement plan distributions that were nontaxable because you are a retired public safety officer cannot be used to figure the deduction. Amended tax return Take the deduction on Form 1040, line 29. Amended tax return Qualified long-term care insurance. Amended tax return   You can include premiums paid on a qualified long-term care insurance contract when figuring your deduction. Amended tax return But, for each person covered, you can include only the smaller of the following amounts. Amended tax return The amount paid for that person. Amended tax return The amount shown below. Amended tax return Use the person's age at the end of the tax year. Amended tax return Age 40 or younger–$360 Age 41 to 50–$680 Age 51 to 60–$1,360 Age 61 to 70–$3,640 Age 71 or older–$4,550 Qualified long-term care insurance contract. Amended tax return   A qualified long-term care insurance contract is an insurance contract that only provides coverage of qualified long-term care services. Amended tax return The contract must meet all the following requirements. Amended tax return It must be guaranteed renewable. Amended tax return It must provide that refunds, other than refunds on the death of the insured or complete surrender or cancellation of the contract, and dividends under the contract may be used only to reduce future premiums or increase future benefits. Amended tax return It must not provide for a cash surrender value or other money that can be paid, assigned, pledged, or borrowed. Amended tax return It generally must not pay or reimburse expenses incurred for services or items that would be reimbursed under Medicare, except where Medicare is a secondary payer or the contract makes per diem or other periodic payments without regard to expenses. Amended tax return Qualified long-term care services. Amended tax return   Qualified long-term care services are: Necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services, and Maintenance or personal care services. Amended tax return The services must be required by a chronically ill individual and prescribed by a licensed health care practitioner. Amended tax return Worksheet 6-A. Amended tax return Self-Employed Health Insurance Deduction Worksheet Note. Amended tax return Use a separate worksheet for each trade or business under which an insurance plan is established. Amended tax return 1. Amended tax return Enter the total amount paid in 2013 for health insurance coverage established under your business for 2013 for you, your spouse, and your dependents. Amended tax return Your insurance can also cover your child who was under age 27 at the end of 2013, even if the child was not your dependent. Amended tax return But do not include the following. Amended tax return   Amounts for any month you were eligible to participate in a health plan subsidized by your or your spouse's employer or the employer of either your dependent or your child who was under the age of 27 at the end of 2013. Amended tax return Any amounts paid from retirement plan distributions that were nontaxable because you are a retired public safety officer. Amended tax return Any amounts you included on Form 8885, line 4. Amended tax return Any qualified health insurance premiums you paid to “U. Amended tax return S. Amended tax return Treasury-HCTC. Amended tax return ” Any health coverage tax credit advance payments shown in box 1 of Form 1099-H. Amended tax return Any payments for qualified long-term care insurance (see line 2) 1. Amended tax return   2. Amended tax return For coverage under a qualified long-term care insurance contract, enter for each person covered the smaller of the following amounts. Amended tax return       a) Total payments made for that person during the year. Amended tax return       b) The amount shown below. Amended tax return Use the person's age at the end of the tax year. Amended tax return         $360— if that person is age 40 or younger          $680— if age 41 to 50         $1,360— if age 51 to 60         $3,640— if age 61 to 70         $4,550— if age 71 or older         Do not include payments for any month you were eligible to participate in a long-term care insurance plan subsidized by your or your spouse’s employer or the employer of either your dependent or your child who was under the age of 27 at the end of 2013. Amended tax return If more than one person is covered, figure separately the amount to enter for each person. Amended tax return Then enter the total of those amounts 2. Amended tax return   3. Amended tax return Add lines 1 and 2 3. Amended tax return   4. Amended tax return Enter your net profit* and any other earned income** from the trade or business under which the insurance plan is established. Amended tax return Do not include Conservation Reserve Program payments exempt from self-employment tax. Amended tax return If the business is an S corporation, skip to line 11 4. Amended tax return   5. Amended tax return Enter the total of all net profits* from: Schedule C (Form 1040), line 31; Schedule C-EZ (Form 1040), line 3; Schedule F (Form 1040), line 34; or Schedule K-1 (Form 1065), box 14, code A; plus any other income allocable to the profitable businesses. Amended tax return Do not include Conservation Reserve Program payments exempt from self-employment tax. Amended tax return See the Instructions for Schedule SE (Form 1040). Amended tax return Do not include any net losses shown on these schedules. Amended tax return 5. Amended tax return   6. Amended tax return Divide line 4 by line 5 6. Amended tax return   7. Amended tax return Multiply Form 1040, line 27, by the percentage on line 6 7. Amended tax return   8. Amended tax return Subtract line 7 from line 4 8. Amended tax return   9. Amended tax return Enter the amount, if any, from Form 1040, line 28, attributable to the same trade or business in which the insurance plan is established 9. Amended tax return   10. Amended tax return Subtract line 9 from line 8 10. Amended tax return   11. Amended tax return Enter your Medicare wages (Form W-2, box 5) from an S corporation in which you are a more-than-2% shareholder and in which the insurance plan is established 11. Amended tax return   12. Amended tax return Enter any amount from Form 2555, line 45, attributable to the amount entered on line 4 or 11 above, or any amount from Form 2555-EZ, line 18, attributable to the amount entered on line 11 above 12. Amended tax return   13. Amended tax return Subtract line 12 from line 10 or 11, whichever applies 13. Amended tax return   14. Amended tax return Enter the smaller of line 3 or line 13 here and on Form 1040, line 29. Amended tax return Do not include this amount when figuring any medical expense deduction on Schedule A (Form 1040). Amended tax return 14. Amended tax return   * If you used either optional method to figure your net earnings from self-employment from any business, do not enter your net profit from the business. Amended tax return Instead, enter the amount attributable to that business from Schedule SE (Form 1040), Section B, line 4b. Amended tax return * *Earned income includes net earnings and gains from the sale, transfer, or licensing of property you created. Amended tax return However, it does not include capital gain income. Amended tax return Chronically ill individual. Amended tax return   A chronically ill individual is a person who has been certified as one of the following. Amended tax return An individual who has been unable, due to loss of functional capacity for at least 90 days, to perform at least two activities of daily living without substantial assistance from another individual. Amended tax return Activities of daily living are eating, toileting, transferring (general mobility), bathing, dressing, and continence. Amended tax return An individual who requires substantial supervision to be protected from threats to health and safety due to severe cognitive impairment. Amended tax return The certification must have been made by a licensed health care practitioner within the previous 12 months. Amended tax return Benefits received. Amended tax return   For information on excluding benefits you receive from a long-term care contract from gross income, see Publication 525. Amended tax return Other coverage. Amended tax return   You cannot take the deduction for any month you were eligible to participate in any employer (including your spouse's) subsidized health plan at any time during that month, even if you did not actually participate. Amended tax return In addition, if you were eligible for any month or part of a month to participate in any subsidized health plan maintained by the employer of either your dependent or your child who was under age 27 at the end of 2013, do not use amounts paid for coverage for that month to figure the deduction. Amended tax return   These rules are applied separately to plans that provide long-term care insurance and plans that do not provide long-term care insurance. Amended tax return However, any medical insurance payments not deductible on Form 1040, line 29, can be included as medical expenses on Schedule A (Form 1040), Itemized Deductions, if you itemize deductions. Amended tax return Effect on itemized deductions. Amended tax return   Subtract the health insurance deduction from your medical insurance when figuring medical expenses on Schedule A (Form 1040) if you itemize deductions. Amended tax return Effect on self-employment tax. Amended tax return   For tax years beginning before or after 2010, you cannot subtract the self-employed health insurance deduction when figuring net earnings for your self-employment tax from the business under which the insurance plan is established, or considered to be established as discussed earlier. Amended tax return For more information, see Schedule SE (Form 1040). Amended tax return How to figure the deduction. Amended tax return   Generally, you can use the worksheet in the Form 1040 instructions to figure your deduction. Amended tax return However, if any of the following apply, you must use Worksheet 6-A in this chapter. Amended tax return You had more than one source of income subject to self-employment tax. Amended tax return You file Form 2555, Foreign Earned Income, or Form 2555-EZ, Foreign Earned Income Exclusion. Amended tax return You are using amounts paid for qualified long-term care insurance to figure the deduction. Amended tax return If you are claiming the health coverage tax credit, complete Form 8885, Health Coverage Tax Credit, before you figure this deduction. Amended tax return Health coverage tax credit. Amended tax return   You may be able to take this credit only if you were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment trade adjustment assistance (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) pension recipient. Amended tax return Use Form 8885 to figure the amount, if any, of this credit. Amended tax return   When figuring the amount to enter on line 1 of Worksheet 6-A, do not include the following. Amended tax return Any amounts you included on Form 8885, line 4. Amended tax return Any qualified health insurance premiums you paid to “U. Amended tax return S. Amended tax return Treasury-HCTC. Amended tax return ” Any health coverage tax credit advance payments shown in box 1 of Form 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments. Amended tax return More than one health plan and business. Amended tax return   If you have more than one health plan during the year and each plan is established under a different business, you must use separate worksheets (Worksheet 6-A) to figure each plan's net earnings limit. Amended tax return Include the premium you paid under each plan on line 1 or line 2 of that separate worksheet and your net profit (or wages) from that business on line 4 (or line 11). Amended tax return For a plan that provides long-term care insurance, the total of the amounts entered for each person on line 2 of all worksheets cannot be more than the appropriate limit shown on line 2 for that person. Amended tax return Nondeductible Premiums You cannot deduct premiums on the following kinds of insurance. Amended tax return Self-insurance reserve funds. Amended tax return You cannot deduct amounts credited to a reserve set up for self-insurance. Amended tax return This applies even if you cannot get business insurance coverage for certain business risks. Amended tax return However, your actual losses may be deductible. Amended tax return See Publication 547. Amended tax return Loss of earnings. Amended tax return You cannot deduct premiums for a policy that pays for lost earnings due to sickness or disability. Amended tax return However, see the discussion on overhead insurance, item (8), under Deductible Premiums , earlier. Amended tax return Certain life insurance and annuities. Amended tax return For contracts issued before June 9, 1997, you cannot deduct the premiums on a life insurance policy covering you, an employee, or any person with a financial interest in your business if you are directly or indirectly a beneficiary of the policy. Amended tax return You are included among possible beneficiaries of the policy if the policy owner is obligated to repay a loan from you using the proceeds of the policy. Amended tax return A person has a financial interest in your business if the person is an owner or part owner of the business or has lent money to the business. Amended tax return For contracts issued after June 8, 1997, you generally cannot deduct the premiums on any life insurance policy, endowment contract, or annuity contract if you are directly or indirectly a beneficiary. Amended tax return The disallowance applies without regard to whom the policy covers. Amended tax return Partners. Amended tax return If, as a partner in a partnership, you take out an insurance policy on your own life and name your partners as beneficiaries to induce them to retain their investments in the partnership, you are considered a beneficiary. Amended tax return You cannot deduct the insurance premiums. Amended tax return Insurance to secure a loan. Amended tax return If you take out a policy on your life or on the life of another person with a financial interest in your business to get or protect a business loan, you cannot deduct the premiums as a business expense. Amended tax return Nor can you deduct the premiums as interest on business loans or as an expense of financing loans. Amended tax return In the event of death, the proceeds of the policy are generally not taxed as income even if they are used to liquidate the debt. Amended tax return Capitalized Premiums Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities. Amended tax return Include these costs in the basis of property you produce or acquire for resale, rather than claiming them as a current deduction. Amended tax return You recover the costs through depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. Amended tax return Indirect costs include premiums for insurance on your plant or facility, machinery, equipment, materials, property produced, or property acquired for resale. Amended tax return Uniform capitalization rules. Amended tax return   You may be subject to the uniform capitalization rules if you do any of the following, unless the property is produced for your use other than in a business or an activity carried on for profit. Amended tax return Produce real property or tangible personal property. Amended tax return For this purpose, tangible personal property includes a film, sound recording, video tape, book, or similar property. Amended tax return Acquire property for resale. Amended tax return However, these rules do not apply to the following property. Amended tax return Personal property you acquire for resale if your average annual gross receipts are $10 million or less for the 3 prior tax years. Amended tax return Property you produce if you meet either of the following conditions. Amended tax return Your indirect costs of producing the property are $200,000 or less. Amended tax return You use the cash method of accounting and do not account for inventories. Amended tax return More information. Amended tax return   For more information on these rules, see Uniform Capitalization Rules in Publication 538 and the regulations under Internal Revenue Code section 263A. Amended tax return When To Deduct Premiums You can usually deduct insurance premiums in the tax year to which they apply. Amended tax return Cash method. Amended tax return   If you use the cash method of accounting, you generally deduct insurance premiums in the tax year you actually paid them, even if you incurred them in an earlier year. Amended tax return However, see Prepayment , later. Amended tax return Accrual method. Amended tax return   If you use an accrual method of accounting, you cannot deduct insurance premiums before the tax year in which you incur a liability for them. Amended tax return In addition, you cannot deduct insurance premiums before the tax year in which you actually pay them (unless the exception for recurring items applies). Amended tax return For more information about the accrual method of accounting, see chapter 1. Amended tax return For information about the exception for recurring items, see Publication 538. Amended tax return Prepayment. Amended tax return   You cannot deduct expenses in advance, even if you pay them in advance. Amended tax return This rule applies to any expense paid far enough in advance to, in effect, create an asset with a useful life extending substantially beyond the end of the current tax year. Amended tax return   Expenses such as insurance are generally allocable to a period of time. Amended tax return You can deduct insurance expenses for the year to which they are allocable. Amended tax return Example. Amended tax return In 2013, you signed a 3-year insurance contract. Amended tax return Even though you paid the premiums for 2013, 2014, and 2015 when you signed the contract, you can only deduct the premium for 2013 on your 2013 tax return. Amended tax return You can deduct in 2014 and 2015 the premium allocable to those years. Amended tax return Dividends received. Amended tax return   If you receive dividends from business insurance and you deducted the premiums in prior years, at least part of the dividends generally are income. Amended tax return For more information, see Recovery of amount deducted (tax benefit rule) in chapter 1 under How Much Can I Deduct. Amended tax return Prev  Up  Next   Home   More Online Publications
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The Amended Tax Return

Amended tax return Publication 721 - Introductory Material Table of Contents Reminders IntroductionOrdering forms and publications. Amended tax return Tax questions. Amended tax return Useful Items - You may want to see: Reminders Future developments. Amended tax return  For the latest information about developments related to Publication 721, such as legislation enacted after it was published, go to www. Amended tax return IRS. Amended tax return gov/pub721. Amended tax return Phased retirement. Amended tax return   The new phased retirement program was signed into law by the Moving Ahead for Progress in the 21st Century Act and will be available for retirement eligible individuals once the regulations for this program are effective. Amended tax return This new program will allow eligible employees to begin receiving annuity payments while working part-time. Amended tax return For more information, go to the Office of Personnel Management (OPM) website at www. Amended tax return opm. Amended tax return gov. Amended tax return Roth Thrift Savings Plan (TSP) balance. Amended tax return  You may be able to contribute to a designated Roth account through the TSP known as the Roth TSP. Amended tax return Roth TSP contributions are after-tax contributions, subject to the same contribution limits as the traditional TSP. Amended tax return Qualified distributions from a Roth TSP are not included in your income. Amended tax return See Thrift Savings Plan in Part II for more information. Amended tax return Rollovers. Amended tax return  You can roll over certain amounts from the CSRS, FERS, or TSP, to a tax-sheltered annuity plan (403(b) plan) or a state or local government section 457 deferred compensation plan. Amended tax return See Rollover Rules in Part II. Amended tax return Rollovers by surviving spouse. Amended tax return  You may be able to roll over a distribution you receive as the surviving spouse of a deceased employee or retiree into a qualified retirement plan or an IRA. Amended tax return See Rollover Rules in Part II. Amended tax return Thrift Savings Plan (TSP) beneficiary participant accounts. Amended tax return  If you are the spouse beneficiary of a decedent's TSP account, you have the option of leaving the death benefit payment in a TSP account in your own name (a beneficiary participant account). Amended tax return The amounts in the beneficiary participant account are neither taxable or reportable until you choose to make a withdrawal, or otherwise receive a distribution from the account. Amended tax return Benefits for public safety officer's survivors. Amended tax return  A survivor annuity received by the spouse, former spouse, or child of a public safety officer killed in the line of duty generally will be excluded from the recipient's income. Amended tax return For more information, see Dependents of public safety officers in Part IV. Amended tax return Uniformed services Thrift Savings Plan (TSP) accounts. Amended tax return  If you have a uniformed services TSP account, it may include contributions from combat zone pay. Amended tax return This pay is tax-exempt and contributions attributable to that pay are tax-exempt when they are distributed from the uniformed services TSP account. Amended tax return However, any earnings on those contributions are subject to tax when they are distributed. Amended tax return The statement you receive from the TSP will separately state the total amount of your distribution and the amount of your taxable distribution for the year. Amended tax return If you have both a civilian and a uniformed services TSP account, you should apply the rules discussed in this publication separately to each account. Amended tax return You can get more information from the TSP website, www. Amended tax return tsp. Amended tax return gov, or the TSP Service Office. Amended tax return Photographs of missing children. Amended tax return  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Amended tax return Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Amended tax return You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Amended tax return Introduction This publication explains how the federal income tax rules apply to civil service retirement benefits received by retired federal employees (including those disabled) or their survivors. Amended tax return These benefits are paid primarily under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS). Amended tax return Tax rules for annuity benefits. Amended tax return   Part of the annuity benefits you receive is a tax-free recovery of your contributions to the CSRS or FERS. Amended tax return The rest of your benefits are taxable. Amended tax return If your annuity starting date is after November 18, 1996, you must use the Simplified Method to figure the taxable and tax-free parts. Amended tax return If your annuity starting date is before November 19, 1996, you generally could have chosen to use the Simplified Method or the General Rule. Amended tax return See Part II, Rules for Retirees . Amended tax return Thrift Savings Plan. Amended tax return   The Thrift Savings Plan (TSP) provides federal employees with the same savings and tax benefits that many private employers offer their employees. Amended tax return This plan is similar to private sector 401(k) plans. Amended tax return You can defer tax on part of your pay by having it contributed to your traditional balance in the plan. Amended tax return The contributions and earnings on them are not taxed until they are distributed to you. Amended tax return Also the TSP offers a Roth TSP option. Amended tax return Contributions to this type of balance are after tax and qualified distributions from the account are tax free. Amended tax return See Thrift Savings Plan in Part II. Amended tax return Comments and suggestions. Amended tax return   We welcome your comments about this publication and your suggestions for future editions. Amended tax return   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Amended tax return NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Amended tax return Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Amended tax return   You can send your comments from www. Amended tax return irs. Amended tax return gov/formspubs/. Amended tax return Click on “More Information” and then on “Comment on Tax Forms and Publications”. Amended tax return   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Amended tax return Ordering forms and publications. Amended tax return   Visit www. Amended tax return irs. Amended tax return gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Amended tax return Internal Revenue Service 1201 N. Amended tax return Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Amended tax return   If you have a tax question, check the information available on IRS. Amended tax return gov or call 1-800-829-1040. Amended tax return We cannot answer tax questions sent to either of the above addresses. Amended tax return Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 575 Pension and Annuity Income 590 Individual Retirement Arrangements (IRAs) 939 General Rule for Pensions and Annuities Form (and Instructions) CSA 1099R Statement of Annuity Paid CSF 1099R Statement of Survivor Annuity Paid W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Amended tax return 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts See How To Get Tax Help near the end of this publication for information about getting publications and forms. Amended tax return Prev  Up  Next   Home   More Online Publications