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Ezform Publication 946 - Introductory Material Table of Contents What's New for 2013 What's New for 2014 Reminders IntroductionOrdering forms and publications. Ezform Tax questions. Ezform What's New for 2013 Increased section 179 deduction dollar limits. Ezform The maximum amount you can elect to deduct for most section 179 property you placed in service in 2013 is $500,000 ($535,000 for qualified enterprise zone property). Ezform This limit is reduced by the amount by which the cost of the property placed in service during the tax year exceeds $2,000,000. Ezform See Dollar Limits under How Much Can You Deduct in chapter 2. Ezform Depreciation limits on business vehicles. Ezform The total section 179 deduction and depreciation you can deduct for a passenger automobile (that is not a truck or van) you use in your business and first placed in service in 2013 is $3,160, if the special depreciation allowance does not apply. Ezform The maximum deduction you can take for a truck or van you use in your business and first placed in service in 2013 is $3,360, if the special depreciation allowance does not apply. Ezform See Maximum Depreciation Deduction in chapter 5. Ezform Special allowance for qualified second generation biofuel plant property. Ezform . Ezform For tax years ending after December 31, 2012, you may be able to take a 50% special depreciation allowance for qualified second generation biofuel plant property placed in service after January 2, 2013, and before January 1, 2014. Ezform Election to accelerate minimum tax credits for round 3 extension property. Ezform . Ezform For tax years ending after December 31, 2012, a corporation can elect to claim pre-2006 unused minimum tax credits in lieu of the special depreciation allowance for round 3 extension property. Ezform What's New for 2014 Expiration of the increased section 179 deduction limits and expanded definition of section 179 property. Ezform For tax years beginning after 2013, the increased section 179 expense deduction limit and threshold amount before reduction in limitation will no longer apply. Ezform Also, the definition of section 179 property will no longer include certain qualified real property. Ezform Expiration of the 7-year recovery period for motor sports entertainment complexes. Ezform Qualified motor sports entertainment complex property placed in service after December 31, 2013, will not be treated as 7-year property under MACRS. Ezform Expiration of the 15-year recovery period for qualified leasehold improvement, restaurant, and retail improvement properties. Ezform Qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property placed in service after December 31, 2013, will not be treated as 15-year property under MACRS. Ezform Expiration of the accelerated depreciation for qualified Indian reservation property. Ezform The accelerated depreciation of property on an Indian Reservation will not apply to property placed in service after December 31, 2013. Ezform Expiration of the 3-year recovery period for certain race horses. Ezform The 3-year recovery period for race horses two years old or younger will expire for such horses placed in service after December 31, 2013. Ezform Reminders Photographs of missing children. Ezform The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Ezform Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Ezform 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. Ezform Introduction Future developments. Ezform For the latest information about developments related to Publication 946 such as legislation enacted after this publication was published, go to www. Ezform irs. Ezform gov/pub946. Ezform This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation (for example, the special depreciation allowance and deductions under the Modified Accelerated Cost Recovery System (MACRS)). Ezform It also explains how you can elect to take a section 179 deduction, instead of depreciation deductions, for certain property, and the additional rules for listed property. Ezform The depreciation methods discussed in this publication generally do not apply to property placed in service before 1987. Ezform For more information, see Publication 534, Depreciating Property Placed in Service Before 1987. Ezform Definitions. Ezform Many of the terms used in this publication are defined in the Glossary near the end of the publication. Ezform Glossary terms used in each discussion under the major headings are listed before the beginning of each discussion throughout the publication. Ezform Do you need a different publication? The following table shows where you can get more detailed information when depreciating certain types of property. Ezform For information on depreciating: See Publication: A car 463, Travel, Entertainment, Gift, and Car Expenses Residential rental property 527, Residential Rental Property (Including Rental of Vacation Home) Office space in your home 587, Business Use of Your Home (Including Use by Daycare Providers) Farm property 225, Farmer's Tax Guide Comments and suggestions. Ezform We welcome your comments about this publication and your suggestions for future editions. Ezform You can write to us at the following address: Internal Revenue Service Business, Exempt Organizations and International Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Ezform NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. Ezform Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Ezform You can send us comments from www. Ezform irs. Ezform gov/formspubs/. Ezform Select “Comment on Tax Forms and Publications” under “More Information. Ezform ” 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. Ezform Ordering forms and publications. Ezform Visit www. Ezform irs. Ezform 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. Ezform Internal Revenue Service 1201 N. Ezform Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Ezform If you have a tax question, check the information available on IRS. Ezform gov or call 1-800-829-1040. Ezform We cannot answer tax questions sent to either of the above addresses. Ezform Prev Up Next Home More Online Publications
Understanding Your CP171 Notice
You received this notice to remind you of the amount you owe in tax, penalty and interest.
What you need to do
- Read your notice carefully ― it will explain how much money you owe on your taxes.
You may want to...
- Download copies of the following materials (if they weren't included with your notice):
- Call 1-800-829-FORM to have forms and publications mailed to you.
- Complete and send us a Form 2848, Power of Attorney and Declaration of Representative to authorize someone (such as an accountant) to contact us on your behalf.
- Make payment arrangements if you cannot pay the full amount you owe.
- Learn more about your payment options here.
Answers to Common Questions
Am I charged interest on the money I owe?
Yes, interest accrues on your unpaid balance until you pay it in full.
Do I receive a penalty if I cannot pay the full amount?
Yes, you receive a late payment penalty.
What happens if I cannot pay the full amount I owe?
You can arrange to make a payment plan with us if you cannot pay the full amount you owe.
How can I set up a payment plan?
Call the toll-free number listed on the top right corner of your notice to discuss payment options or learn more about payment arrangements here.
Tips for next year
Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions for which you may qualify. In many cases, you can file free. Learn more about how to file electronically here.
Understanding your notice
Your notice may look different from the sample because the information contained in your notice is tailored to your situation.
Notice CP171, Page 1
Notice CP171, Page 2
Notice CP171, Page 3
Page Last Reviewed or Updated: 09-Dec-2013
Printable samples of this notice (PDF)
Tax publications you may find useful
How to get help
- Call the 1-800 number listed on the top right corner of your notice.
- Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
- See if you qualify for help from a Low Income Taxpayer Clinic.
Ezform Publication 547(SP) - Additional Material Prev Up Next Home More Online Publications