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Electronically File 2010 Taxes

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Electronically File 2010 Taxes

Electronically file 2010 taxes 2. Electronically file 2010 taxes   Accounting Methods Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Accounting MethodsCash Method Accrual Method Farm Inventory Cash Versus Accrual Method Special Methods of Accounting Combination Method Changes in Methods of Accounting Introduction You must use an accounting method that clearly shows your income and expenses. Electronically file 2010 taxes You must also figure your taxable income and file an income tax return for an annual accounting period called a tax year. Electronically file 2010 taxes This chapter discusses accounting methods. Electronically file 2010 taxes For information on accounting periods, see Publication 538, Accounting Periods and Methods, and the Instructions for Form 1128, Application To Adopt, Change, or Retain a Tax Year. Electronically file 2010 taxes Topics - This chapter discusses: Cash method Accrual method Farm inventory Special methods of accounting Changes in methods of accounting Useful Items - You may want to see: Publication 538 Accounting Periods and Methods 535 Business Expenses Form (and Instructions) 1128 Application To Adopt, Change, or Retain a Tax Year 3115 Application for Change in Accounting Method See chapter 16 for information about getting publications and forms. Electronically file 2010 taxes Accounting Methods An accounting method is a set of rules used to determine when and how your income and expenses are reported on your tax return. Electronically file 2010 taxes Your accounting method includes not only your overall method of accounting, but also the accounting treatment you use for any material item. Electronically file 2010 taxes A material item is one that affects the proper time for inclusion of income or allowance of a deduction. Electronically file 2010 taxes An item considered material for financial statement purposes is generally also considered material for income tax purposes. Electronically file 2010 taxes See Publication 538 for more information. Electronically file 2010 taxes You generally choose an accounting method for your farm business when you file your first income tax return that includes a Schedule F (Form 1040), Profit or Loss From Farming. Electronically file 2010 taxes If you later want to change your accounting method, you generally must get IRS approval. Electronically file 2010 taxes How to obtain IRS approval is discussed later under Changes in Methods of Accounting . Electronically file 2010 taxes Types of accounting methods. Electronically file 2010 taxes   Generally, you can use any of the following accounting methods. Electronically file 2010 taxes Each method is discussed in detail below. Electronically file 2010 taxes Cash method. Electronically file 2010 taxes Accrual method. Electronically file 2010 taxes Special methods of accounting for certain items of income and expenses. Electronically file 2010 taxes Combination (hybrid) method using elements of two or more of the above. Electronically file 2010 taxes Business and other items. Electronically file 2010 taxes   You can account for business and personal items using different accounting methods. Electronically file 2010 taxes For example, you can figure your business income under an accrual method, even if you use the cash method to figure personal items. Electronically file 2010 taxes Two or more businesses. Electronically file 2010 taxes   If you operate two or more separate and distinct businesses, you can use a different accounting method for each business. Electronically file 2010 taxes Generally, no business is separate and distinct unless a complete and separate set of books and records is maintained for each business. Electronically file 2010 taxes Cash Method Most farmers use the cash method because they find it easier to keep records using the cash method. Electronically file 2010 taxes However, certain farm corporations and partnerships and all tax shelters must use an accrual method of accounting. Electronically file 2010 taxes See Accrual Method Required , later. Electronically file 2010 taxes Income Under the cash method, include in your gross income all items of income you actually or constructively received during the tax year. Electronically file 2010 taxes Items of income include money received as well as property or services received. Electronically file 2010 taxes If you receive property or services, you must include the fair market value (FMV) of the property or services in income. Electronically file 2010 taxes See chapter 3 for information on how to report farm income on your income tax return. Electronically file 2010 taxes Constructive receipt. Electronically file 2010 taxes   Income is constructively received when an amount is credited to your account or made available to you without restriction. Electronically file 2010 taxes You do not need to have possession of the income for it to be treated as income for the tax year. Electronically file 2010 taxes If you authorize someone to be your agent and receive income for you, you are considered to have received the income when your agent receives it. Electronically file 2010 taxes Income is not constructively received if your receipt of the income is subject to substantial restrictions or limitations. Electronically file 2010 taxes Direct payments and counter-cyclical payments. Electronically file 2010 taxes   If you received direct payments or counter-cyclical payments under Subtitle A or C of the Farm Security and Rural Investment Act of 2002, you will not be considered to have constructively received a payment merely because you had the option to receive it in the year before it is required to be paid. Electronically file 2010 taxes Delaying receipt of income. Electronically file 2010 taxes   You cannot hold checks or postpone taking possession of similar property from one tax year to another to avoid paying tax on the income. Electronically file 2010 taxes You must report the income in the year the money or property is received or made available to you without restriction. Electronically file 2010 taxes Example. Electronically file 2010 taxes Frances Jones, a farmer, was entitled to receive a $10,000 payment on a grain contract in December 2013. Electronically file 2010 taxes She was told in December that her payment was available. Electronically file 2010 taxes She requested not to be paid until January 2014. Electronically file 2010 taxes However, she must still include this payment in her 2013 income because it was made available to her in 2013. Electronically file 2010 taxes Debts paid by another person or canceled. Electronically file 2010 taxes   If your debts are paid by another person or are canceled by your creditors, you may have to report part or all of this debt relief as income. Electronically file 2010 taxes If you receive income in this way, you constructively receive the income when the debt is canceled or paid. Electronically file 2010 taxes See Cancellation of Debt in chapter 3. Electronically file 2010 taxes Deferred payment contract. Electronically file 2010 taxes   If you sell an item under a deferred payment contract that calls for payment in a future year, there is no constructive receipt in the year of sale. Electronically file 2010 taxes However, if the sales contract states that you have the right to the proceeds of the sale from the buyer at any time after delivery of the item, then you must include the sales price in income in the year of the sale, regardless of when you actually receive payment. Electronically file 2010 taxes Example. Electronically file 2010 taxes You are a farmer who uses the cash method and a calendar tax year. Electronically file 2010 taxes You sell grain in December 2013 under a bona fide arm's-length contract that calls for payment in 2014. Electronically file 2010 taxes You include the proceeds from the sale in your 2014 gross income since that is the year payment is received. Electronically file 2010 taxes However, if the contract states that you have the right to the proceeds from the buyer at any time after the grain is delivered, you must include the sales price in your 2013 income, regardless of when you actually receive payment. Electronically file 2010 taxes Repayment of income. Electronically file 2010 taxes   If you include an amount in income and in a later year you have to repay all or part of it, then you can usually deduct the repayment in the year repaid. Electronically file 2010 taxes If the repayment is more than $3,000, a special rule applies. Electronically file 2010 taxes For details, see Repayments in chapter 11 of Publication 535, Business Expenses. Electronically file 2010 taxes Expenses Under the cash method, generally you deduct expenses in the tax year you pay them. Electronically file 2010 taxes This includes business expenses for which you contest liability. Electronically file 2010 taxes However, you may not be able to deduct an expense paid in advance or you may be required to capitalize certain costs, as explained under Uniform Capitalization Rules in chapter 6. Electronically file 2010 taxes See chapter 4 for information on how to deduct farm business expenses on your income tax return. Electronically file 2010 taxes Prepayment. Electronically file 2010 taxes   Generally, you cannot deduct expenses paid in advance. Electronically file 2010 taxes 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. Electronically file 2010 taxes Example. Electronically file 2010 taxes On November 1, 2013, you signed and paid $3,600 for a 3-year (36-month) insurance contract for equipment. Electronically file 2010 taxes In 2013, you are allowed to deduct only $200 (2/36 x $3,600) of the cost of the policy that is attributable to 2013. Electronically file 2010 taxes In 2014, you'll be able to deduct $1,200 (12/36 x $3,600); in 2015, you'll be able to deduct $1,200 (12/36 x $3,600); and in 2016 you'll be able to deduct the remaining balance of $1,000. Electronically file 2010 taxes An exception applies if the expense qualifies for the 12-month rule. Electronically file 2010 taxes See Publication 538 for more information and examples. Electronically file 2010 taxes See chapter 4 for special rules for prepaid farm supplies and prepaid livestock feed. Electronically file 2010 taxes Accrual Method Under an accrual method of accounting, you generally report income in the year earned and deduct or capitalize expenses in the year incurred. Electronically file 2010 taxes The purpose of an accrual method of accounting is to correctly match income and expenses. Electronically file 2010 taxes Certain businesses engaged in farming must use an accrual method of accounting for its farm business and for sales and purchases of inventory items. Electronically file 2010 taxes See Accrual Method Required and Farm Inventory , later. Electronically file 2010 taxes Income Generally, you include an amount in income for the tax year in which all events that fix your right to receive the income have occurred, and you can determine the amount with reasonable accuracy. Electronically file 2010 taxes Under this rule, include an amount in income on the earliest of the following dates. Electronically file 2010 taxes When you receive payment. Electronically file 2010 taxes When the income amount is due to you. Electronically file 2010 taxes When you earn the income. Electronically file 2010 taxes When title passes. Electronically file 2010 taxes If you use an accrual method of accounting, complete Part III of Schedule F (Form 1040) to report your income. Electronically file 2010 taxes Inventory. Electronically file 2010 taxes   If you keep an inventory, generally you must use an accrual method of accounting to determine your gross income. Electronically file 2010 taxes An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor. Electronically file 2010 taxes See Publication 538 for more information. Electronically file 2010 taxes Also see Farm Inventory , later, for more information on items that must be included in inventory by farmers and inventory valuation methods for farmers. Electronically file 2010 taxes Expenses Under an accrual method of accounting, you generally deduct or capitalize a business expense when both of the following apply. Electronically file 2010 taxes The all-events test has been met. Electronically file 2010 taxes This test is met when: All events have occurred that fix the fact that you have a liability, and The amount of the liability can be determined with reasonable accuracy. Electronically file 2010 taxes Economic performance has occurred. Electronically file 2010 taxes Economic performance. Electronically file 2010 taxes   Generally, you cannot deduct or capitalize a business expense until economic performance occurs. Electronically file 2010 taxes If your expense is for property or services provided to you, or for your use of property, economic performance occurs as the property or services are provided or as the property is used. Electronically file 2010 taxes If your expense is for property or services you provide to others, economic performance occurs as you provide the property or services. Electronically file 2010 taxes Example. Electronically file 2010 taxes Jane, who is a farmer, uses a calendar tax year and an accrual method of accounting. Electronically file 2010 taxes She entered into a contract with ABC Farm Consulting in 2012. Electronically file 2010 taxes The contract stated that Jane pay ABC Farm Consulting $2,000 in December 2012. Electronically file 2010 taxes It further stipulates that ABC Farm Consulting will develop a plan for integrating her farm with a larger farm operation based in a neighboring state by March 1, 2013. Electronically file 2010 taxes Jane paid ABC Farm Consulting $2,000 in December 2012. Electronically file 2010 taxes Integration of operations according to the plan began in May 2013 and they completed the integration in December 2013. Electronically file 2010 taxes Economic performance for Jane's liability in the contract occurs as the services are provided. Electronically file 2010 taxes Jane incurs the $2,000 cost in 2013. Electronically file 2010 taxes An exception to the economic performance rule allows certain recurring items to be treated as incurred during a tax year even though economic performance has not occurred. Electronically file 2010 taxes For more information, see Economic Performance in Publication 538. Electronically file 2010 taxes Special rule for related persons. Electronically file 2010 taxes   Business expenses and interest owed to a related person who uses the cash method of accounting are not deductible until you make the payment and the corresponding amount is includible in the related person's gross income. Electronically file 2010 taxes Determine the relationship for this rule as of the end of the tax year for which the expense or interest would otherwise be deductible. Electronically file 2010 taxes For more information, see Internal Revenue Code section 267. Electronically file 2010 taxes Accrual Method Required Generally, the following businesses, if engaged in farming, must use an accrual method of accounting. Electronically file 2010 taxes A corporation (other than a family corporation) that had gross receipts of more than $1,000,000 for any tax year beginning after 1975. Electronically file 2010 taxes A family corporation that had gross receipts of more than $25,000,000 for any tax year beginning after 1985. Electronically file 2010 taxes A partnership with a corporation as a partner, if that corporation meets the requirements of (1) or (2) above. Electronically file 2010 taxes A tax shelter. Electronically file 2010 taxes Note. Electronically file 2010 taxes Items (1), (2), and (3) above do not apply to an S corporation or a business operating a nursery or sod farm, or the raising or harvesting of trees (other than fruit and nut trees). Electronically file 2010 taxes Family corporation. Electronically file 2010 taxes   A family corporation is generally a corporation that meets one of the following ownership requirements. Electronically file 2010 taxes Members of the same family own at least 50% of the total combined voting power of all classes of stock entitled to vote and at least 50% of the total shares of all other classes of stock of the corporation. Electronically file 2010 taxes Members of two families have owned, directly or indirectly, since October 4, 1976, at least 65% of the total combined voting power of all classes of voting stock and at least 65% of the total shares of all other classes of the corporation's stock. Electronically file 2010 taxes Members of three families have owned, directly or indirectly, since October 4, 1976, at least 50% of the total combined voting power of all classes of voting stock and at least 50% of the total shares of all other classes of the corporation's stock. Electronically file 2010 taxes For more information on family corporations, see Internal Revenue Code section 447. Electronically file 2010 taxes Tax shelter. Electronically file 2010 taxes   A tax shelter is a partnership, noncorporate enterprise, or S corporation that meets either of the following tests. Electronically file 2010 taxes Its principal purpose is the avoidance or evasion of federal income tax. Electronically file 2010 taxes It is a farming syndicate. Electronically file 2010 taxes A farming syndicate is an entity that meets either of the following tests. Electronically file 2010 taxes Interests in the activity have been offered for sale in an offering required to be registered with a federal or state agency with the authority to regulate the offering of securities for sale. Electronically file 2010 taxes More than 35% of the losses during the tax year are allocable to limited partners or limited entrepreneurs. Electronically file 2010 taxes   A “limited partner” is one whose personal liability for partnership debts is limited to the money or other property the partner contributed or is required to contribute to the partnership. Electronically file 2010 taxes   A “limited entrepreneur” is one who has an interest in an enterprise other than as a limited partner and does not actively participate in the management of the enterprise. Electronically file 2010 taxes Farm Inventory If you are required to keep an inventory, you should keep a complete record of your inventory as part of your farm records. Electronically file 2010 taxes This record should show the actual count or measurement of the inventory. Electronically file 2010 taxes It should also show all factors that enter into its valuation, including quality and weight, if applicable. Electronically file 2010 taxes Hatchery business. Electronically file 2010 taxes   If you are in the hatchery business, and use an accrual method of accounting, you must include in inventory eggs in the process of incubation. Electronically file 2010 taxes Products held for sale. Electronically file 2010 taxes   All harvested and purchased farm products held for sale or for feed or seed, such as grain, hay, silage, concentrates, cotton, tobacco, etc. Electronically file 2010 taxes , must be included in inventory. Electronically file 2010 taxes Supplies. Electronically file 2010 taxes   Supplies acquired for sale or that become a physical part of items held for sale must be included in inventory. Electronically file 2010 taxes Deduct the cost of supplies in the year used or consumed in operations. Electronically file 2010 taxes Do not include incidental supplies in inventory as these are deductible in the year of purchase. Electronically file 2010 taxes Livestock. Electronically file 2010 taxes   Livestock held primarily for sale must be included in inventory. Electronically file 2010 taxes Livestock held for draft, breeding, or dairy purposes can either be depreciated or included in inventory. Electronically file 2010 taxes See also Unit-livestock-price method , later. Electronically file 2010 taxes If you are in the business of breeding and raising chinchillas, mink, foxes, or other fur-bearing animals, these animals are livestock for inventory purposes. Electronically file 2010 taxes Growing crops. Electronically file 2010 taxes   Generally, growing crops are not required to be included in inventory. Electronically file 2010 taxes However, if the crop has a preproductive period of more than 2 years, you may have to capitalize (or include in inventory) costs associated with the crop. Electronically file 2010 taxes See Uniform capitalization rules below. Electronically file 2010 taxes Also see Uniform Capitalization Rules in  chapter 6. Electronically file 2010 taxes Items to include in inventory. Electronically file 2010 taxes   Your inventory should include all items held for sale, or for use as feed, seed, etc. Electronically file 2010 taxes , whether raised or purchased, that are unsold at the end of the year. Electronically file 2010 taxes Uniform capitalization rules. Electronically file 2010 taxes   The following applies if you are required to use an accrual method of accounting. Electronically file 2010 taxes The uniform capitalization rules apply to all costs of raising a plant, even if the preproductive period of raising a plant is 2 years or less. Electronically file 2010 taxes The costs of animals are subject to the uniform capitalization rules. Electronically file 2010 taxes Inventory valuation methods. Electronically file 2010 taxes   The following methods, described below, are those generally available for valuing inventory. Electronically file 2010 taxes The method you use must conform to generally accepted accounting principles for similar businesses and must clearly reflect income. Electronically file 2010 taxes Cost. Electronically file 2010 taxes Lower of cost or market. Electronically file 2010 taxes Farm-price method. Electronically file 2010 taxes Unit-livestock-price method. Electronically file 2010 taxes Cost and lower of cost or market methods. Electronically file 2010 taxes   See Publication 538 for information on these valuation methods. Electronically file 2010 taxes If you value your livestock inventory at cost or the lower of cost or market, you do not need IRS approval to change to the unit-livestock-price method. Electronically file 2010 taxes However, if you value your livestock inventory using the farm-price method, then you must obtain permission from the IRS to change to the unit-livestock-price method. Electronically file 2010 taxes Farm-price method. Electronically file 2010 taxes   Under this method, each item, whether raised or purchased, is valued at its market price less the direct cost of disposition. Electronically file 2010 taxes Market price is the current price at the nearest market in the quantities you usually sell. Electronically file 2010 taxes Cost of disposition includes broker's commissions, freight, hauling to market, and other marketing costs. Electronically file 2010 taxes If you use this method, you must use it for your entire inventory, except that livestock can be inventoried under the unit-livestock-price method. Electronically file 2010 taxes Unit-livestock-price method. Electronically file 2010 taxes   This method recognizes the difficulty of establishing the exact costs of producing and raising each animal. Electronically file 2010 taxes You group or classify livestock according to type and age and use a standard unit price for each animal within a class or group. Electronically file 2010 taxes The unit price you assign should reasonably approximate the normal costs incurred in producing the animals in such classes. Electronically file 2010 taxes Unit prices and classifications are subject to approval by the IRS on examination of your return. Electronically file 2010 taxes You must annually reevaluate your unit livestock prices and adjust the prices upward or downward to reflect increases or decreases in the costs of raising livestock. Electronically file 2010 taxes IRS approval is not required for these adjustments. Electronically file 2010 taxes Any other changes in unit prices or classifications do require IRS approval. Electronically file 2010 taxes   If you use this method, include all raised livestock in inventory, regardless of whether they are held for sale or for draft, breeding, sport, or dairy purposes. Electronically file 2010 taxes This method accounts only for the increase in cost of raising an animal to maturity. Electronically file 2010 taxes It does not provide for any decrease in the animal's market value after it reaches maturity. Electronically file 2010 taxes Also, if you raise cattle, you are not required to inventory hay you grow to feed your herd. Electronically file 2010 taxes   Do not include sold or lost animals in the year-end inventory. Electronically file 2010 taxes If your records do not show which animals were sold or lost, treat the first animals acquired as sold or lost. Electronically file 2010 taxes The animals on hand at the end of the year are considered those most recently acquired. Electronically file 2010 taxes   You must include in inventory all livestock purchased primarily for sale. Electronically file 2010 taxes You can choose either to include in inventory or depreciate livestock purchased for draft, breeding, sport or dairy purposes. Electronically file 2010 taxes However, you must be consistent from year to year, regardless of the method you have chosen. Electronically file 2010 taxes You cannot change your method without obtaining approval from the IRS. Electronically file 2010 taxes   You must include in inventory animals purchased after maturity or capitalize them at their purchase price. Electronically file 2010 taxes If the animals are not mature at purchase, increase the cost at the end of each tax year according to the established unit price. Electronically file 2010 taxes However, in the year of purchase, do not increase the cost of any animal purchased during the last 6 months of the year. Electronically file 2010 taxes This “no increase” rule does not apply to tax shelters which must make an adjustment for any animal purchased during the year. Electronically file 2010 taxes It also does not apply to taxpayers that must make an adjustment to reasonably reflect the particular period in the year in which animals are purchased, if necessary to avoid significant distortions in income. Electronically file 2010 taxes Uniform capitalization rules. Electronically file 2010 taxes   A farmer can determine costs required to be allocated under the uniform capitalization rules by using the farm-price or unit-livestock-price inventory method. Electronically file 2010 taxes This applies to any plant or animal, even if the farmer does not hold or treat the plant or animal as inventory property. Electronically file 2010 taxes Cash Versus Accrual Method The following examples compare the cash and accrual methods of accounting. Electronically file 2010 taxes Example 1. Electronically file 2010 taxes You are a farmer who uses an accrual method of accounting. Electronically file 2010 taxes You keep your books on the calendar year basis. Electronically file 2010 taxes You sell grain in December 2013 but you are not paid until January 2014. Electronically file 2010 taxes Because the accrual method was used and 2013 was the tax year in which the grain was sold, you must both include the sales proceeds and deduct the costs incurred in producing the grain on your 2013 tax return. Electronically file 2010 taxes Example 2. Electronically file 2010 taxes Assume the same facts as in Example 1 except that you use the cash method and there was no constructive receipt of the sales proceeds in 2013. Electronically file 2010 taxes Under this method, you include the sales proceeds in income for 2014, the year you receive payment. Electronically file 2010 taxes Deduct the costs of producing the grain in the year you pay for them. Electronically file 2010 taxes Special Methods of Accounting There are special methods of accounting for certain items of income and expense. Electronically file 2010 taxes Crop method. Electronically file 2010 taxes   If you do not harvest and dispose of your crop in the same tax year that you plant it, you can, with IRS approval, use the crop method of accounting. Electronically file 2010 taxes You cannot use the crop method for any tax return, including your first tax return, unless you receive approval from the IRS. Electronically file 2010 taxes Under this method, you deduct the entire cost of producing the crop, including the expense of seed or young plants, in the year you realize income from the crop. Electronically file 2010 taxes    See chapter 4 for details on deducting the costs of operating a farm. Electronically file 2010 taxes Also see Regulations section 1. Electronically file 2010 taxes 162-12. Electronically file 2010 taxes Other special methods. Electronically file 2010 taxes   Other special methods of accounting apply to the following items. Electronically file 2010 taxes Amortization, see chapter 7. Electronically file 2010 taxes Casualties, see chapter 11. Electronically file 2010 taxes Condemnations, see chapter 11. Electronically file 2010 taxes Depletion, see chapter 7. Electronically file 2010 taxes Depreciation, see chapter 7. Electronically file 2010 taxes Farm business expenses, see chapter 4. Electronically file 2010 taxes Farm income, see chapter 3. Electronically file 2010 taxes Installment sales, see chapter 10. Electronically file 2010 taxes Soil and water conservation expenses, see chapter 5. Electronically file 2010 taxes Thefts, see chapter 11. Electronically file 2010 taxes Combination Method Generally, you can use any combination of cash, accrual, and special methods of accounting if the combination clearly shows your income and expenses and you use it consistently. Electronically file 2010 taxes However, the following restrictions apply. Electronically file 2010 taxes If you use the cash method for figuring your income, you must use the cash method for reporting your expenses. Electronically file 2010 taxes If you use an accrual method for reporting your expenses, you must use an accrual method for figuring your income. Electronically file 2010 taxes Changes in Methods of Accounting A change in your method of accounting includes a change in: Your overall method, such as from the cash method to an accrual method, and Your treatment of any material item, such as a change in your method of valuing inventory (for example, a change from the farm-price method to the unit-livestock-price method, discussed earlier). Electronically file 2010 taxes Generally, once you have set up your accounting method, you must receive approval from the IRS before you can change to another method of accounting. Electronically file 2010 taxes You may also have to pay a fee. Electronically file 2010 taxes To obtain approval, you must generally file Form 3115. Electronically file 2010 taxes There are instances when you can obtain automatic consent to change certain methods of accounting. Electronically file 2010 taxes See the List of Automatic Accounting Method Changes located in the Instructions for Form 3115. Electronically file 2010 taxes For more information on changes in methods of accounting, see Form 3115 and the Instructions for Form 3115. Electronically file 2010 taxes Also see Publication 538. Electronically file 2010 taxes Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Utah Department of Commerce

Website: Utah Department of Commerce

Address: Utah Department of Commerce
Division of Consumer Protection
160 E. 300 S, 2nd Floor
PO Box 146704
Salt Lake City, UT 84114-6704

Phone Number: 801-530-6601

Toll-free: 1-800-721-7233

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Financial Institutions

Website: Department of Financial Institutions

Address: Department of Financial Institutions
PO Box 146800
Salt Lake City, UT 84114-6800

Phone Number: 801-538-8830

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Insurance Department

Website: Insurance Department

Address: Insurance Department
Consumer Service
State Office Building, Room 3110
450 N. State St.
Salt Lake City, UT 84114-6901

Phone Number: 801-538-3800

Toll-free: 1-800-439-3805 (UT)

TTY: 801-538-3826

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Department of Commerce

Website: Department of Commerce

Address: Department of Commerce
Division of Securities
PO Box 146760
Salt Lake City, UT 84114-6760

Phone Number: 801-530-6600

Toll-free: 1-800-721-7233 (UT)

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Service Commission

Website: Public Service Commission

Address: Public Service Commission
Division of Public Utilities
160 East 300 South
Salt Lake City, UT 84114-6751

Phone Number: 801-530-6716

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The Electronically File 2010 Taxes

Electronically file 2010 taxes Publication 502 - Introductory Material Table of Contents What's New Reminders IntroductionOrdering forms and publications. Electronically file 2010 taxes Tax questions. Electronically file 2010 taxes Useful Items - You may want to see: What's New Medical and dental expenses. Electronically file 2010 taxes  Beginning January 1, 2013, you can deduct only the part of your medical and dental expenses that exceed 10% of your adjusted gross income (AGI) (7. Electronically file 2010 taxes 5% if either you or your spouse was born before January 2, 1949). Electronically file 2010 taxes Standard mileage rate. Electronically file 2010 taxes  The standard mileage rate allowed for operating expenses for a car when you use it for medical reasons is 24 cents per mile. Electronically file 2010 taxes See Transportation under What Medical Expenses Are Includible. Electronically file 2010 taxes Federal tax benefits for same-sex married couples. Electronically file 2010 taxes  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. Electronically file 2010 taxes For more information, see Publication 501, Exemptions, Standard Deduction, and Filing Information. Electronically file 2010 taxes Reminders Future developments. Electronically file 2010 taxes   For the latest information about developments related to Publication 502, such as legislation enacted after it was published, go to www. Electronically file 2010 taxes irs. Electronically file 2010 taxes gov/pub502. Electronically file 2010 taxes Photographs of missing children. Electronically file 2010 taxes  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Electronically file 2010 taxes Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Electronically file 2010 taxes 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. Electronically file 2010 taxes Introduction This publication explains the itemized deduction for medical and dental expenses that you claim on Schedule A (Form 1040). Electronically file 2010 taxes It discusses what expenses, and whose expenses, you can and cannot include in figuring the deduction. Electronically file 2010 taxes It explains how to treat reimbursements and how to figure the deduction. Electronically file 2010 taxes It also tells you how to report the deduction on your tax return and what to do if you sell medical property or receive damages for a personal injury. Electronically file 2010 taxes Medical expenses include dental expenses, and in this publication the term “medical expenses” is often used to refer to medical and dental expenses. Electronically file 2010 taxes You can deduct on Schedule A (Form 1040) only the part of your medical and dental expenses that is more than 10% of your adjusted gross income (AGI). Electronically file 2010 taxes But if either you or your spouse was born before January 2, 1949, you can deduct the amount of your medical and dental expenses that is more than 7. Electronically file 2010 taxes 5% of your AGI. Electronically file 2010 taxes If your medical and dental expenses are not more than 10% of your AGI (7. Electronically file 2010 taxes 5% if either you or your spouse was born before January 2, 1949), you cannot claim a deduction. Electronically file 2010 taxes This publication also explains how to treat impairment-related work expenses, health insurance premiums if you are self-employed, and the health coverage tax credit that is available to certain individuals. Electronically file 2010 taxes Pub. Electronically file 2010 taxes 502 covers many common medical expenses but not every possible medical expense. Electronically file 2010 taxes If you cannot find the expense you are looking for, refer to the definition of medical expenses under What Are Medical Expenses . Electronically file 2010 taxes See How To Get Tax Help near the end of this publication for information about getting publications and forms. Electronically file 2010 taxes Comments and suggestions. Electronically file 2010 taxes   We welcome your comments about this publication and your suggestions for future editions. Electronically file 2010 taxes   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Electronically file 2010 taxes NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Electronically file 2010 taxes Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Electronically file 2010 taxes   You can send your comments from www. Electronically file 2010 taxes irs. Electronically file 2010 taxes gov/formspubs. Electronically file 2010 taxes Click on “More Information” and then on “Comment on Tax Forms and Publications. Electronically file 2010 taxes ”   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. Electronically file 2010 taxes Ordering forms and publications. Electronically file 2010 taxes   Visit www. Electronically file 2010 taxes irs. Electronically file 2010 taxes 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. Electronically file 2010 taxes Internal Revenue Service 1201 N. Electronically file 2010 taxes Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Electronically file 2010 taxes   If you have a tax question, check the information available on IRS. Electronically file 2010 taxes gov or call 1-800-829-1040. Electronically file 2010 taxes We cannot answer tax questions sent to either of the above addresses. Electronically file 2010 taxes Useful Items - You may want to see: Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans Forms (and Instructions) 1040 U. Electronically file 2010 taxes S. 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