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Federal Income Tax Forms 1040ez

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Federal Income Tax Forms 1040ez

Federal income tax forms 1040ez 9. Federal income tax forms 1040ez   Depletion Table of Contents Introduction Topics - This chapter discusses: Who Can Claim Depletion? Mineral PropertyCost Depletion Percentage Depletion Oil and Gas Wells Mines and Geothermal Deposits Lessor's Gross Income TimberTimber units. Federal income tax forms 1040ez Depletion unit. Federal income tax forms 1040ez Introduction Depletion is the using up of natural resources by mining, drilling, quarrying stone, or cutting timber. Federal income tax forms 1040ez The depletion deduction allows an owner or operator to account for the reduction of a product's reserves. Federal income tax forms 1040ez There are two ways of figuring depletion: cost depletion and percentage depletion. Federal income tax forms 1040ez For mineral property, you generally must use the method that gives you the larger deduction. Federal income tax forms 1040ez For standing timber, you must use cost depletion. Federal income tax forms 1040ez Topics - This chapter discusses: Who can claim depletion Mineral property Timber Who Can Claim Depletion? If you have an economic interest in mineral property or standing timber, you can take a deduction for depletion. Federal income tax forms 1040ez More than one person can have an economic interest in the same mineral deposit or timber. Federal income tax forms 1040ez In the case of leased property, the depletion deduction is divided between the lessor and the lessee. Federal income tax forms 1040ez You have an economic interest if both the following apply. Federal income tax forms 1040ez You have acquired by investment any interest in mineral deposits or standing timber. Federal income tax forms 1040ez You have a legal right to income from the extraction of the mineral or cutting of the timber to which you must look for a return of your capital investment. Federal income tax forms 1040ez A contractual relationship that allows you an economic or monetary advantage from products of the mineral deposit or standing timber is not, in itself, an economic interest. Federal income tax forms 1040ez A production payment carved out of, or retained on the sale of, mineral property is not an economic interest. Federal income tax forms 1040ez Individuals, corporations, estates, and trusts who claim depletion deductions may be liable for alternative minimum tax. Federal income tax forms 1040ez Basis adjustment for depletion. Federal income tax forms 1040ez   You must reduce the basis of your property by the depletion allowed or allowable, whichever is greater. Federal income tax forms 1040ez Mineral Property Mineral property includes oil and gas wells, mines, and other natural deposits (including geothermal deposits). Federal income tax forms 1040ez For this purpose, the term “property” means each separate interest you own in each mineral deposit in each separate tract or parcel of land. Federal income tax forms 1040ez You can treat two or more separate interests as one property or as separate properties. Federal income tax forms 1040ez See section 614 of the Internal Revenue Code and the related regulations for rules on how to treat separate mineral interests. Federal income tax forms 1040ez There are two ways of figuring depletion on mineral property. Federal income tax forms 1040ez Cost depletion. Federal income tax forms 1040ez Percentage depletion. Federal income tax forms 1040ez Generally, you must use the method that gives you the larger deduction. Federal income tax forms 1040ez However, unless you are an independent producer or royalty owner, you generally cannot use percentage depletion for oil and gas wells. Federal income tax forms 1040ez See Oil and Gas Wells , later. Federal income tax forms 1040ez Cost Depletion To figure cost depletion you must first determine the following. Federal income tax forms 1040ez The property's basis for depletion. Federal income tax forms 1040ez The total recoverable units of mineral in the property's natural deposit. Federal income tax forms 1040ez The number of units of mineral sold during the tax year. Federal income tax forms 1040ez Basis for depletion. Federal income tax forms 1040ez   To figure the property's basis for depletion, subtract all the following from the property's adjusted basis. Federal income tax forms 1040ez Amounts recoverable through: Depreciation deductions, Deferred expenses (including deferred exploration and development costs), and Deductions other than depletion. Federal income tax forms 1040ez The residual value of land and improvements at the end of operations. Federal income tax forms 1040ez The cost or value of land acquired for purposes other than mineral production. Federal income tax forms 1040ez Adjusted basis. Federal income tax forms 1040ez   The adjusted basis of your property is your original cost or other basis, plus certain additions and improvements, and minus certain deductions such as depletion allowed or allowable and casualty losses. Federal income tax forms 1040ez Your adjusted basis can never be less than zero. Federal income tax forms 1040ez See Publication 551, Basis of Assets, for more information on adjusted basis. Federal income tax forms 1040ez Total recoverable units. Federal income tax forms 1040ez   The total recoverable units is the sum of the following. Federal income tax forms 1040ez The number of units of mineral remaining at the end of the year (including units recovered but not sold). Federal income tax forms 1040ez The number of units of mineral sold during the tax year (determined under your method of accounting, as explained next). Federal income tax forms 1040ez   You must estimate or determine recoverable units (tons, pounds, ounces, barrels, thousands of cubic feet, or other measure) of mineral products using the current industry method and the most accurate and reliable information you can obtain. Federal income tax forms 1040ez You must include ores and minerals that are developed, in sight, blocked out, or assured. Federal income tax forms 1040ez You must also include probable or prospective ores or minerals that are believed to exist based on good evidence. Federal income tax forms 1040ez But see Elective safe harbor for owners of oil and gas property , later. Federal income tax forms 1040ez Number of units sold. Federal income tax forms 1040ez   You determine the number of units sold during the tax year based on your method of accounting. Federal income tax forms 1040ez Use the following table to make this determination. Federal income tax forms 1040ez    IF you  use . Federal income tax forms 1040ez . Federal income tax forms 1040ez . Federal income tax forms 1040ez THEN the units sold during the year are . Federal income tax forms 1040ez . Federal income tax forms 1040ez . Federal income tax forms 1040ez The cash method of accounting The units sold for which you receive payment during the tax year (regardless of the year of sale). Federal income tax forms 1040ez An accrual method of accounting The units sold based on your inventories and method of accounting for inventory. Federal income tax forms 1040ez   The number of units sold during the tax year does not include any for which depletion deductions were allowed or allowable in earlier years. Federal income tax forms 1040ez Figuring the cost depletion deduction. Federal income tax forms 1040ez   Once you have figured your property's basis for depletion, the total recoverable units, and the number of units sold during the tax year, you can figure your cost depletion deduction by taking the following steps. Federal income tax forms 1040ez Step Action Result 1 Divide your property's basis for depletion by total recoverable units. Federal income tax forms 1040ez Rate per unit. Federal income tax forms 1040ez 2 Multiply the rate per unit by units sold during the tax year. Federal income tax forms 1040ez Cost depletion deduction. Federal income tax forms 1040ez You must keep accounts for the depletion of each property and adjust these accounts each year for units sold and depletion claimed. Federal income tax forms 1040ez Elective safe harbor for owners of oil and gas property. Federal income tax forms 1040ez   Instead of using the method described earlier to determine the total recoverable units, you can use an elective safe harbor. Federal income tax forms 1040ez If you choose the elective safe harbor, the total recoverable units equal 105% of a property's proven reserves (both developed and undeveloped). Federal income tax forms 1040ez For details, see Revenue Procedure 2004-19 on page 563 of Internal Revenue Bulletin 2004-10, available at www. Federal income tax forms 1040ez irs. Federal income tax forms 1040ez gov/pub/irs-irbs/irb04-10. Federal income tax forms 1040ez pdf. Federal income tax forms 1040ez   To make the election, attach a statement to your timely filed (including extensions) original return for the first tax year for which the safe harbor is elected. Federal income tax forms 1040ez The statement must indicate that you are electing the safe harbor provided by Revenue Procedure 2004-19. Federal income tax forms 1040ez The election, if made, is effective for the tax year in which it is made and all later years. Federal income tax forms 1040ez It cannot be revoked for the tax year in which it is elected, but may be revoked in a later year. Federal income tax forms 1040ez Once revoked, it cannot be re-elected for the next 5 years. Federal income tax forms 1040ez Percentage Depletion To figure percentage depletion, you multiply a certain percentage, specified for each mineral, by your gross income from the property during the tax year. Federal income tax forms 1040ez The rates to be used and other rules for oil and gas wells are discussed later under Independent Producers and Royalty Owners and under Natural Gas Wells . Federal income tax forms 1040ez Rates and other rules for percentage depletion of other specific minerals are found later in Mines and Geothermal Deposits . Federal income tax forms 1040ez Gross income. Federal income tax forms 1040ez   When figuring percentage depletion, subtract from your gross income from the property the following amounts. Federal income tax forms 1040ez Any rents or royalties you paid or incurred for the property. Federal income tax forms 1040ez The part of any bonus you paid for a lease on the property allocable to the product sold (or that otherwise gives rise to gross income) for the tax year. Federal income tax forms 1040ez A bonus payment includes amounts you paid as a lessee to satisfy a production payment retained by the lessor. Federal income tax forms 1040ez   Use the following fraction to figure the part of the bonus you must subtract. Federal income tax forms 1040ez No. Federal income tax forms 1040ez of units sold in the tax year Recoverable units from the property × Bonus Payments For oil and gas wells and geothermal deposits, more information about the definition of gross income from the property is under Oil and Gas Wells , later. Federal income tax forms 1040ez For other property, more information about the definition of gross income from the property is under Mines and Geothermal Deposits , later. Federal income tax forms 1040ez Taxable income limit. Federal income tax forms 1040ez   The percentage depletion deduction generally cannot be more than 50% (100% for oil and gas property) of your taxable income from the property figured without the depletion deduction and the domestic production activities deduction. Federal income tax forms 1040ez   Taxable income from the property means gross income from the property minus all allowable deductions (except any deduction for depletion or domestic production activities) attributable to mining processes, including mining transportation. Federal income tax forms 1040ez These deductible items include, but are not limited to, the following. Federal income tax forms 1040ez Operating expenses. Federal income tax forms 1040ez Certain selling expenses. Federal income tax forms 1040ez Administrative and financial overhead. Federal income tax forms 1040ez Depreciation. Federal income tax forms 1040ez Intangible drilling and development costs. Federal income tax forms 1040ez Exploration and development expenditures. Federal income tax forms 1040ez Deductible taxes (see chapter 5), but not taxes that you capitalize or take as a credit. Federal income tax forms 1040ez Losses sustained. Federal income tax forms 1040ez   The following rules apply when figuring your taxable income from the property for purposes of the taxable income limit. Federal income tax forms 1040ez Do not deduct any net operating loss deduction from the gross income from the property. Federal income tax forms 1040ez Corporations do not deduct charitable contributions from the gross income from the property. Federal income tax forms 1040ez If, during the year, you dispose of an item of section 1245 property that was used in connection with mineral property, reduce any allowable deduction for mining expenses by the part of any gain you must report as ordinary income that is allocable to the mineral property. Federal income tax forms 1040ez See section 1. Federal income tax forms 1040ez 613-5(b)(1) of the regulations for information on how to figure the ordinary gain allocable to the property. Federal income tax forms 1040ez Oil and Gas Wells You cannot claim percentage depletion for an oil or gas well unless at least one of the following applies. Federal income tax forms 1040ez You are either an independent producer or a royalty owner. Federal income tax forms 1040ez The well produces natural gas that is either sold under a fixed contract or produced from geopressured brine. Federal income tax forms 1040ez If you are an independent producer or royalty owner, see Independent Producers and Royalty Owners , next. Federal income tax forms 1040ez For information on the depletion deduction for wells that produce natural gas that is either sold under a fixed contract or produced from geopressured brine, see Natural Gas Wells , later. Federal income tax forms 1040ez Independent Producers and Royalty Owners If you are an independent producer or royalty owner, you figure percentage depletion using a rate of 15% of the gross income from the property based on your average daily production of domestic crude oil or domestic natural gas up to your depletable oil or natural gas quantity. Federal income tax forms 1040ez However, certain refiners, as explained next, and certain retailers and transferees of proven oil and gas properties, as explained next, cannot claim percentage depletion. Federal income tax forms 1040ez For information on figuring the deduction, see Figuring percentage depletion , later. Federal income tax forms 1040ez Refiners who cannot claim percentage depletion. Federal income tax forms 1040ez   You cannot claim percentage depletion if you or a related person refine crude oil and you and the related person refined more than 75,000 barrels on any day during the tax year based on average (rather than actual) daily refinery runs for the tax year. Federal income tax forms 1040ez The average daily refinery run is computed by dividing total refinery runs for the tax year by the total number of days in the tax year. Federal income tax forms 1040ez Related person. Federal income tax forms 1040ez   You and another person are related persons if either of you holds a significant ownership interest in the other person or if a third person holds a significant ownership interest in both of you. Federal income tax forms 1040ez For example, a corporation, partnership, estate, or trust and anyone who holds a significant ownership interest in it are related persons. Federal income tax forms 1040ez A partnership and a trust are related persons if one person holds a significant ownership interest in each of them. Federal income tax forms 1040ez For purposes of the related person rules, significant ownership interest means direct or indirect ownership of 5% or more in any one of the following. Federal income tax forms 1040ez The value of the outstanding stock of a corporation. Federal income tax forms 1040ez The interest in the profits or capital of a partnership. Federal income tax forms 1040ez The beneficial interests in an estate or trust. Federal income tax forms 1040ez Any interest owned by or for a corporation, partnership, trust, or estate is considered to be owned directly both by itself and proportionately by its shareholders, partners, or beneficiaries. Federal income tax forms 1040ez Retailers who cannot claim percentage depletion. Federal income tax forms 1040ez   You cannot claim percentage depletion if both the following apply. Federal income tax forms 1040ez You sell oil or natural gas or their by-products directly or through a related person in any of the following situations. Federal income tax forms 1040ez Through a retail outlet operated by you or a related person. Federal income tax forms 1040ez To any person who is required under an agreement with you or a related person to use a trademark, trade name, or service mark or name owned by you or a related person in marketing or distributing oil, natural gas, or their by-products. Federal income tax forms 1040ez To any person given authority under an agreement with you or a related person to occupy any retail outlet owned, leased, or controlled by you or a related person. Federal income tax forms 1040ez The combined gross receipts from sales (not counting resales) of oil, natural gas, or their by-products by all retail outlets taken into account in (1) are more than $5 million for the tax year. Federal income tax forms 1040ez   For the purpose of determining if this rule applies, do not count the following. Federal income tax forms 1040ez Bulk sales (sales in very large quantities) of oil or natural gas to commercial or industrial users. Federal income tax forms 1040ez Bulk sales of aviation fuels to the Department of Defense. Federal income tax forms 1040ez Sales of oil or natural gas or their by-products outside the United States if none of your domestic production or that of a related person is exported during the tax year or the prior tax year. Federal income tax forms 1040ez Related person. Federal income tax forms 1040ez   To determine if you and another person are related persons, see Related person under Refiners who cannot claim percentage depletion, earlier. Federal income tax forms 1040ez Sales through a related person. Federal income tax forms 1040ez   You are considered to be selling through a related person if any sale by the related person produces gross income from which you may benefit because of your direct or indirect ownership interest in the person. Federal income tax forms 1040ez   You are not considered to be selling through a related person who is a retailer if all the following apply. Federal income tax forms 1040ez You do not have a significant ownership interest in the retailer. Federal income tax forms 1040ez You sell your production to persons who are not related to either you or the retailer. Federal income tax forms 1040ez The retailer does not buy oil or natural gas from your customers or persons related to your customers. Federal income tax forms 1040ez There are no arrangements for the retailer to acquire oil or natural gas you produced for resale or made available for purchase by the retailer. Federal income tax forms 1040ez Neither you nor the retailer knows of or controls the final disposition of the oil or natural gas you sold or the original source of the petroleum products the retailer acquired for resale. Federal income tax forms 1040ez Transferees who cannot claim percentage depletion. Federal income tax forms 1040ez   You cannot claim percentage depletion if you received your interest in a proven oil or gas property by transfer after 1974 and before October 12, 1990. Federal income tax forms 1040ez For a definition of the term “transfer,” see section 1. Federal income tax forms 1040ez 613A-7(n) of the regulations. Federal income tax forms 1040ez For a definition of the term “interest in proven oil or gas property,” see section 1. Federal income tax forms 1040ez 613A-7(p) of the regulations. Federal income tax forms 1040ez Figuring percentage depletion. Federal income tax forms 1040ez   Generally, as an independent producer or royalty owner, you figure your percentage depletion by computing your average daily production of domestic oil or gas and comparing it to your depletable oil or gas quantity. Federal income tax forms 1040ez If your average daily production does not exceed your depletable oil or gas quantity, you figure your percentage depletion by multiplying the gross income from the oil or gas property (defined later) by 15%. Federal income tax forms 1040ez If your average daily production of domestic oil or gas exceeds your depletable oil or gas quantity, you must make an allocation as explained later under Average daily production. Federal income tax forms 1040ez   In addition, there is a limit on the percentage depletion deduction. Federal income tax forms 1040ez See Taxable income limit , later. Federal income tax forms 1040ez Average daily production. Federal income tax forms 1040ez   Figure your average daily production by dividing your total domestic production of oil or gas for the tax year by the number of days in your tax year. Federal income tax forms 1040ez Partial interest. Federal income tax forms 1040ez   If you have a partial interest in the production from a property, figure your share of the production by multiplying total production from the property by your percentage of interest in the revenues from the property. Federal income tax forms 1040ez   You have a partial interest in the production from a property if you have a net profits interest in the property. Federal income tax forms 1040ez To figure the share of production for your net profits interest, you must first determine your percentage participation (as measured by the net profits) in the gross revenue from the property. Federal income tax forms 1040ez To figure this percentage, you divide the income you receive for your net profits interest by the gross revenue from the property. Federal income tax forms 1040ez Then multiply the total production from the property by your percentage participation to figure your share of the production. Federal income tax forms 1040ez Example. Federal income tax forms 1040ez Javier Robles owns oil property in which Pablo Olmos owns a 20% net profits interest. Federal income tax forms 1040ez During the year, the property produced 10,000 barrels of oil, which Javier sold for $200,000. Federal income tax forms 1040ez Javier had expenses of $90,000 attributable to the property. Federal income tax forms 1040ez The property generated a net profit of $110,000 ($200,000 − $90,000). Federal income tax forms 1040ez Pablo received income of $22,000 ($110,000 × . Federal income tax forms 1040ez 20) for his net profits interest. Federal income tax forms 1040ez Pablo determined his percentage participation to be 11% by dividing $22,000 (the income he received) by $200,000 (the gross revenue from the property). Federal income tax forms 1040ez Pablo determined his share of the oil production to be 1,100 barrels (10,000 barrels × 11%). Federal income tax forms 1040ez Depletable oil or natural gas quantity. Federal income tax forms 1040ez   Generally, your depletable oil quantity is 1,000 barrels. Federal income tax forms 1040ez Your depletable natural gas quantity is 6,000 cubic feet multiplied by the number of barrels of your depletable oil quantity that you choose to apply. Federal income tax forms 1040ez If you claim depletion on both oil and natural gas, you must reduce your depletable oil quantity (1,000 barrels) by the number of barrels you use to figure your depletable natural gas quantity. Federal income tax forms 1040ez Example. Federal income tax forms 1040ez You have both oil and natural gas production. Federal income tax forms 1040ez To figure your depletable natural gas quantity, you choose to apply 360 barrels of your 1000-barrel depletable oil quantity. Federal income tax forms 1040ez Your depletable natural gas quantity is 2. Federal income tax forms 1040ez 16 million cubic feet of gas (360 × 6000). Federal income tax forms 1040ez You must reduce your depletable oil quantity to 640 barrels (1000 − 360). Federal income tax forms 1040ez If you have production from marginal wells, see section 613A(c)(6) of the Internal Revenue Code to figure your depletable oil or natural gas quantity. Federal income tax forms 1040ez Also, see Notice 2012-50, available at www. Federal income tax forms 1040ez irs. Federal income tax forms 1040ez gov/irb/2012–31_IRB/index. Federal income tax forms 1040ez html. Federal income tax forms 1040ez Business entities and family members. Federal income tax forms 1040ez   You must allocate the depletable oil or gas quantity among the following related persons in proportion to each entity's or family member's production of domestic oil or gas for the year. Federal income tax forms 1040ez Corporations, trusts, and estates if 50% or more of the beneficial interest is owned by the same or related persons (considering only persons that own at least 5% of the beneficial interest). Federal income tax forms 1040ez You and your spouse and minor children. Federal income tax forms 1040ez A related person is anyone mentioned in the related persons discussion under Nondeductible loss in chapter 2 of Publication 544, except that for purposes of this allocation, item (1) in that discussion includes only an individual, his or her spouse, and minor children. Federal income tax forms 1040ez Controlled group of corporations. Federal income tax forms 1040ez   Members of the same controlled group of corporations are treated as one taxpayer when figuring the depletable oil or natural gas quantity. Federal income tax forms 1040ez They share the depletable quantity. Federal income tax forms 1040ez A controlled group of corporations is defined in section 1563(a) of the Internal Revenue Code, except that, for this purpose, the stock ownership requirement in that definition is “more than 50%” rather than “at least 80%. Federal income tax forms 1040ez ” Gross income from the property. Federal income tax forms 1040ez   For purposes of percentage depletion, gross income from the property (in the case of oil and gas wells) is the amount you receive from the sale of the oil or gas in the immediate vicinity of the well. Federal income tax forms 1040ez If you do not sell the oil or gas on the property, but manufacture or convert it into a refined product before sale or transport it before sale, the gross income from the property is the representative market or field price (RMFP) of the oil or gas, before conversion or transportation. Federal income tax forms 1040ez   If you sold gas after you removed it from the premises for a price that is lower than the RMFP, determine gross income from the property for percentage depletion purposes without regard to the RMFP. Federal income tax forms 1040ez   Gross income from the property does not include lease bonuses, advance royalties, or other amounts payable without regard to production from the property. Federal income tax forms 1040ez Average daily production exceeds depletable quantities. Federal income tax forms 1040ez   If your average daily production for the year is more than your depletable oil or natural gas quantity, figure your allowance for depletion for each domestic oil or natural gas property as follows. Federal income tax forms 1040ez Figure your average daily production of oil or natural gas for the year. Federal income tax forms 1040ez Figure your depletable oil or natural gas quantity for the year. Federal income tax forms 1040ez Figure depletion for all oil or natural gas produced from the property using a percentage depletion rate of 15%. Federal income tax forms 1040ez Multiply the result figured in (3) by a fraction, the numerator of which is the result figured in (2) and the denominator of which is the result figured in (1). Federal income tax forms 1040ez This is your depletion allowance for that property for the year. Federal income tax forms 1040ez Taxable income limit. Federal income tax forms 1040ez   If you are an independent producer or royalty owner of oil and gas, your deduction for percentage depletion is limited to the smaller of the following. Federal income tax forms 1040ez 100% of your taxable income from the property figured without the deduction for depletion and the deduction for domestic production activities under section 199 of the Internal Revenue Code. Federal income tax forms 1040ez For a definition of taxable income from the property, see Taxable income limit , earlier, under Mineral Property. Federal income tax forms 1040ez 65% of your taxable income from all sources, figured without the depletion allowance, the deduction for domestic production activities, any net operating loss carryback, and any capital loss carryback. Federal income tax forms 1040ez You can carry over to the following year any amount you cannot deduct because of the 65%-of-taxable-income limit. Federal income tax forms 1040ez Add it to your depletion allowance (before applying any limits) for the following year. Federal income tax forms 1040ez Partnerships and S Corporations Generally, each partner or S corporation shareholder, and not the partnership or S corporation, figures the depletion allowance separately. Federal income tax forms 1040ez (However, see Electing large partnerships must figure depletion allowance , later. Federal income tax forms 1040ez ) Each partner or shareholder must decide whether to use cost or percentage depletion. Federal income tax forms 1040ez If a partner or shareholder uses percentage depletion, he or she must apply the 65%-of-taxable-income limit using his or her taxable income from all sources. Federal income tax forms 1040ez Partner's or shareholder's adjusted basis. Federal income tax forms 1040ez   The partnership or S corporation must allocate to each partner or shareholder his or her share of the adjusted basis of each oil or gas property held by the partnership or S corporation. Federal income tax forms 1040ez The partnership or S corporation makes the allocation as of the date it acquires the oil or gas property. Federal income tax forms 1040ez   Each partner's share of the adjusted basis of the oil or gas property generally is figured according to that partner's interest in partnership capital. Federal income tax forms 1040ez However, in some cases, it is figured according to the partner's interest in partnership income. Federal income tax forms 1040ez   The partnership or S corporation adjusts the partner's or shareholder's share of the adjusted basis of the oil and gas property for any capital expenditures made for the property and for any change in partnership or S corporation interests. Federal income tax forms 1040ez Recordkeeping. Federal income tax forms 1040ez Each partner or shareholder must separately keep records of his or her share of the adjusted basis in each oil and gas property of the partnership or S corporation. Federal income tax forms 1040ez The partner or shareholder must reduce his or her adjusted basis by the depletion allowed or allowable on the property each year. Federal income tax forms 1040ez The partner or shareholder must use that reduced adjusted basis to figure cost depletion or his or her gain or loss if the partnership or S corporation disposes of the property. Federal income tax forms 1040ez Reporting the deduction. Federal income tax forms 1040ez   Information that you, as a partner or shareholder, use to figure your depletion deduction on oil and gas properties is reported by the partnership or S corporation on Schedule K-1 (Form 1065) or on Schedule K-1 (Form 1120S). Federal income tax forms 1040ez Deduct oil and gas depletion for your partnership or S corporation interest on Schedule E (Form 1040). Federal income tax forms 1040ez The depletion deducted on Schedule E is included in figuring income or loss from rental real estate or royalty properties. Federal income tax forms 1040ez The instructions for Schedule E explain where to report this income or loss and whether you need to file either of the following forms. Federal income tax forms 1040ez Form 6198, At-Risk Limitations. Federal income tax forms 1040ez Form 8582, Passive Activity Loss Limitations. Federal income tax forms 1040ez Electing large partnerships must figure depletion allowance. Federal income tax forms 1040ez   An electing large partnership, rather than each partner, generally must figure the depletion allowance. Federal income tax forms 1040ez The partnership figures the depletion allowance without taking into account the 65-percent-of-taxable-income limit and the depletable oil or natural gas quantity. Federal income tax forms 1040ez Also, the adjusted basis of a partner's interest in the partnership is not affected by the depletion allowance. Federal income tax forms 1040ez   An electing large partnership is one that meets both the following requirements. Federal income tax forms 1040ez The partnership had 100 or more partners in the preceding year. Federal income tax forms 1040ez The partnership chooses to be an electing large partnership. Federal income tax forms 1040ez Disqualified persons. Federal income tax forms 1040ez   An electing large partnership does not figure the depletion allowance of its partners that are disqualified persons. Federal income tax forms 1040ez Disqualified persons must figure it themselves, as explained earlier. Federal income tax forms 1040ez   All the following are disqualified persons. Federal income tax forms 1040ez Refiners who cannot claim percentage depletion (discussed under Independent Producers and Royalty Owners , earlier). Federal income tax forms 1040ez Retailers who cannot claim percentage depletion (discussed under Independent Producers and Royalty Owners , earlier). Federal income tax forms 1040ez Any partner whose average daily production of domestic crude oil and natural gas is more than 500 barrels during the tax year in which the partnership tax year ends. Federal income tax forms 1040ez Average daily production is discussed earlier. Federal income tax forms 1040ez Natural Gas Wells You can use percentage depletion for a well that produces natural gas that is either Sold under a fixed contract, or Produced from geopressured brine. Federal income tax forms 1040ez Natural gas sold under a fixed contract. Federal income tax forms 1040ez   Natural gas sold under a fixed contract qualifies for a percentage depletion rate of 22%. Federal income tax forms 1040ez This is domestic natural gas sold by the producer under a contract that does not provide for a price increase to reflect any increase in the seller's tax liability because of the repeal of percentage depletion for gas. Federal income tax forms 1040ez The contract must have been in effect from February 1, 1975, until the date of sale of the gas. Federal income tax forms 1040ez Price increases after February 1, 1975, are presumed to take the increase in tax liability into account unless demonstrated otherwise by clear and convincing evidence. Federal income tax forms 1040ez Natural gas from geopressured brine. Federal income tax forms 1040ez   Qualified natural gas from geopressured brine is eligible for a percentage depletion rate of 10%. Federal income tax forms 1040ez This is natural gas that is both the following. Federal income tax forms 1040ez Produced from a well you began to drill after September 1978 and before 1984. Federal income tax forms 1040ez Determined in accordance with section 503 of the Natural Gas Policy Act of 1978 to be produced from geopressured brine. Federal income tax forms 1040ez Mines and Geothermal Deposits Certain mines, wells, and other natural deposits, including geothermal deposits, qualify for percentage depletion. Federal income tax forms 1040ez Mines and other natural deposits. Federal income tax forms 1040ez   For a natural deposit, the percentage of your gross income from the property that you can deduct as depletion depends on the type of deposit. Federal income tax forms 1040ez   The following is a list of the percentage depletion rates for the more common minerals. Federal income tax forms 1040ez DEPOSITS RATE Sulphur, uranium, and, if from deposits in the United States, asbestos, lead ore, zinc ore, nickel ore, and mica 22% Gold, silver, copper, iron ore, and certain oil shale, if from deposits in the United States 15% Borax, granite, limestone, marble, mollusk shells, potash, slate, soapstone, and carbon dioxide produced from a well 14% Coal, lignite, and sodium chloride 10% Clay and shale used or sold for use in making sewer pipe or bricks or used or sold for use as sintered or burned lightweight aggregates 7½% Clay used or sold for use in making drainage and roofing tile, flower pots, and kindred products, and gravel, sand, and stone (other than stone used or sold for use by a mine owner or operator as dimension or ornamental stone) 5%   You can find a complete list of minerals and their percentage depletion rates in section 613(b) of the Internal Revenue Code. Federal income tax forms 1040ez Corporate deduction for iron ore and coal. Federal income tax forms 1040ez   The percentage depletion deduction of a corporation for iron ore and coal (including lignite) is reduced by 20% of: The percentage depletion deduction for the tax year (figured without this reduction), minus The adjusted basis of the property at the close of the tax year (figured without the depletion deduction for the tax year). Federal income tax forms 1040ez Gross income from the property. Federal income tax forms 1040ez   For property other than a geothermal deposit or an oil or gas well, gross income from the property means the gross income from mining. Federal income tax forms 1040ez Mining includes all the following. Federal income tax forms 1040ez Extracting ores or minerals from the ground. Federal income tax forms 1040ez Applying certain treatment processes described later. Federal income tax forms 1040ez Transporting ores or minerals (generally, not more than 50 miles) from the point of extraction to the plants or mills in which the treatment processes are applied. Federal income tax forms 1040ez Excise tax. Federal income tax forms 1040ez   Gross income from mining includes the separately stated excise tax received by a mine operator from the sale of coal to compensate the operator for the excise tax the mine operator must pay to finance black lung benefits. Federal income tax forms 1040ez Extraction. Federal income tax forms 1040ez   Extracting ores or minerals from the ground includes extraction by mine owners or operators of ores or minerals from the waste or residue of prior mining. Federal income tax forms 1040ez This does not apply to extraction from waste or residue of prior mining by the purchaser of the waste or residue or the purchaser of the rights to extract ores or minerals from the waste or residue. Federal income tax forms 1040ez Treatment processes. Federal income tax forms 1040ez   The processes included as mining depend on the ore or mineral mined. Federal income tax forms 1040ez To qualify as mining, the treatment processes must be applied by the mine owner or operator. Federal income tax forms 1040ez For a listing of treatment processes considered as mining, see section 613(c)(4) of the Internal Revenue Code and the related regulations. Federal income tax forms 1040ez Transportation of more than 50 miles. Federal income tax forms 1040ez   If the IRS finds that the ore or mineral must be transported more than 50 miles to plants or mills to be treated because of physical and other requirements, the additional authorized transportation is considered mining and included in the computation of gross income from mining. Federal income tax forms 1040ez    If you wish to include transportation of more than 50 miles in the computation of gross income from mining, request an advance ruling from the IRS. Federal income tax forms 1040ez Include in the request the facts about the physical and other requirements that prevented the construction and operation of the plant within 50 miles of the point of extraction. Federal income tax forms 1040ez For more information about requesting an advance ruling, see Revenue Procedure 2013-1, available at www. Federal income tax forms 1040ez irs. Federal income tax forms 1040ez gov/irb/2013-01_IRB/ar11. Federal income tax forms 1040ez html. Federal income tax forms 1040ez Disposal of coal or iron ore. Federal income tax forms 1040ez   You cannot take a depletion deduction for coal (including lignite) or iron ore mined in the United States if both the following apply. Federal income tax forms 1040ez You disposed of it after holding it for more than 1 year. Federal income tax forms 1040ez You disposed of it under a contract under which you retain an economic interest in the coal or iron ore. Federal income tax forms 1040ez Treat any gain on the disposition as a capital gain. Federal income tax forms 1040ez Disposal to related person. Federal income tax forms 1040ez   This rule does not apply if you dispose of the coal or iron ore to one of the following persons. Federal income tax forms 1040ez A related person (as listed in chapter 2 of Publication 544). Federal income tax forms 1040ez A person owned or controlled by the same interests that own or control you. Federal income tax forms 1040ez Geothermal deposits. Federal income tax forms 1040ez   Geothermal deposits located in the United States or its possessions qualify for a percentage depletion rate of 15%. Federal income tax forms 1040ez A geothermal deposit is a geothermal reservoir of natural heat stored in rocks or in a watery liquid or vapor. Federal income tax forms 1040ez For percentage depletion purposes, a geothermal deposit is not considered a gas well. Federal income tax forms 1040ez   Figure gross income from the property for a geothermal steam well in the same way as for oil and gas wells. Federal income tax forms 1040ez See Gross income from the property , earlier, under Oil and Gas Wells. Federal income tax forms 1040ez Percentage depletion on a geothermal deposit cannot be more than 50% of your taxable income from the property. Federal income tax forms 1040ez Lessor's Gross Income In the case of leased property, the depletion deduction is divided between the lessor and the lessee. Federal income tax forms 1040ez A lessor's gross income from the property that qualifies for percentage depletion usually is the total of the royalties received from the lease. Federal income tax forms 1040ez Bonuses and advanced royalties. Federal income tax forms 1040ez   Bonuses and advanced royalties are payments a lessee makes before production to a lessor for the grant of rights in a lease or for minerals, gas, or oil to be extracted from leased property. Federal income tax forms 1040ez If you are the lessor, your income from bonuses and advanced royalties received is subject to an allowance for depletion, as explained in the next two paragraphs. Federal income tax forms 1040ez Figuring cost depletion. Federal income tax forms 1040ez   To figure cost depletion on a bonus, multiply your adjusted basis in the property by a fraction, the numerator of which is the bonus and the denominator of which is the total bonus and royalties expected to be received. Federal income tax forms 1040ez To figure cost depletion on advanced royalties, use the computation explained earlier under Cost Depletion , treating the number of units for which the advanced royalty is received as the number of units sold. Federal income tax forms 1040ez Figuring percentage depletion. Federal income tax forms 1040ez   In the case of mines, wells, and other natural deposits other than gas, oil, or geothermal property, you may use the percentage rates discussed earlier under Mines and Geothermal Deposits . Federal income tax forms 1040ez Any bonus or advanced royalty payments are generally part of the gross income from the property to which the rates are applied in making the calculation. Federal income tax forms 1040ez However, for oil, gas, or geothermal property, gross income does not include lease bonuses, advanced royalties, or other amounts payable without regard to production from the property. Federal income tax forms 1040ez Ending the lease. Federal income tax forms 1040ez   If you receive a bonus on a lease that ends or is abandoned before you derive any income from mineral extraction, include in income the depletion deduction you took. Federal income tax forms 1040ez Do this for the year the lease ends or is abandoned. Federal income tax forms 1040ez Also increase your adjusted basis in the property to restore the depletion deduction you previously subtracted. Federal income tax forms 1040ez   For advanced royalties, include in income the depletion claimed on minerals for which the advanced royalties were paid if the minerals were not produced before the lease ended. Federal income tax forms 1040ez Include this amount in income for the year the lease ends. Federal income tax forms 1040ez Increase your adjusted basis in the property by the amount you include in income. Federal income tax forms 1040ez Delay rentals. Federal income tax forms 1040ez   These are payments for deferring development of the property. Federal income tax forms 1040ez Since delay rentals are ordinary rent, they are ordinary income that is not subject to depletion. Federal income tax forms 1040ez These rentals can be avoided by either abandoning the lease, beginning development operations, or obtaining production. Federal income tax forms 1040ez Timber You can figure timber depletion only by the cost method. Federal income tax forms 1040ez Percentage depletion does not apply to timber. Federal income tax forms 1040ez Base your depletion on your cost or other basis in the timber. Federal income tax forms 1040ez Your cost does not include the cost of land or any amounts recoverable through depreciation. Federal income tax forms 1040ez Depletion takes place when you cut standing timber. Federal income tax forms 1040ez You can figure your depletion deduction when the quantity of cut timber is first accurately measured in the process of exploitation. Federal income tax forms 1040ez Figuring cost depletion. Federal income tax forms 1040ez   To figure your cost depletion allowance, you multiply the number of timber units cut by your depletion unit. Federal income tax forms 1040ez Timber units. Federal income tax forms 1040ez   When you acquire timber property, you must make an estimate of the quantity of marketable timber that exists on the property. Federal income tax forms 1040ez You measure the timber using board feet, log scale, cords, or other units. Federal income tax forms 1040ez If you later determine that you have more or less units of timber, you must adjust the original estimate. Federal income tax forms 1040ez   The term “timber property” means your economic interest in standing timber in each tract or block representing a separate timber account. Federal income tax forms 1040ez Depletion unit. Federal income tax forms 1040ez   You figure your depletion unit each year by taking the following steps. Federal income tax forms 1040ez Determine your cost or adjusted basis of the timber on hand at the beginning of the year. Federal income tax forms 1040ez Adjusted basis is defined under Cost Depletion in the discussion on Mineral Property. Federal income tax forms 1040ez Add to the amount determined in (1) the cost of any timber units acquired during the year and any additions to capital. Federal income tax forms 1040ez Figure the number of timber units to take into account by adding the number of timber units acquired during the year to the number of timber units on hand in the account at the beginning of the year and then adding (or subtracting) any correction to the estimate of the number of timber units remaining in the account. Federal income tax forms 1040ez Divide the result of (2) by the result of (3). Federal income tax forms 1040ez This is your depletion unit. Federal income tax forms 1040ez Example. Federal income tax forms 1040ez You bought a timber tract for $160,000 and the land was worth as much as the timber. Federal income tax forms 1040ez Your basis for the timber is $80,000. Federal income tax forms 1040ez Based on an estimated one million board feet (1,000 MBF) of standing timber, you figure your depletion unit to be $80 per MBF ($80,000 ÷ 1,000). Federal income tax forms 1040ez If you cut 500 MBF of timber, your depletion allowance would be $40,000 (500 MBF × $80). Federal income tax forms 1040ez When to claim depletion. Federal income tax forms 1040ez   Claim your depletion allowance as a deduction in the year of sale or other disposition of the products cut from the timber, unless you choose to treat the cutting of timber as a sale or exchange (explained below). Federal income tax forms 1040ez Include allowable depletion for timber products not sold during the tax year the timber is cut as a cost item in the closing inventory of timber products for the year. Federal income tax forms 1040ez The inventory is your basis for determining gain or loss in the tax year you sell the timber products. Federal income tax forms 1040ez Example. Federal income tax forms 1040ez The facts are the same as in the previous example except that you sold only half of the timber products in the cutting year. Federal income tax forms 1040ez You would deduct $20,000 of the $40,000 depletion that year. Federal income tax forms 1040ez You would add the remaining $20,000 depletion to your closing inventory of timber products. Federal income tax forms 1040ez Electing to treat the cutting of timber as a sale or exchange. Federal income tax forms 1040ez   You can elect, under certain circumstances, to treat the cutting of timber held for more than 1 year as a sale or exchange. Federal income tax forms 1040ez You must make the election on your income tax return for the tax year to which it applies. Federal income tax forms 1040ez If you make this election, subtract the adjusted basis for depletion from the fair market value of the timber on the first day of the tax year in which you cut it to figure the gain or loss on the cutting. Federal income tax forms 1040ez You generally report the gain as long-term capital gain. Federal income tax forms 1040ez The fair market value then becomes your basis for figuring your ordinary gain or loss on the sale or other disposition of the products cut from the timber. Federal income tax forms 1040ez For more information, see Timber in chapter 2 of Publication 544, Sales and Other Dispositions of Assets. Federal income tax forms 1040ez   You may revoke an election to treat the cutting of timber as a sale or exchange without IRS's consent. Federal income tax forms 1040ez The prior election (and revocation) is disregarded for purposes of making a subsequent election. Federal income tax forms 1040ez See Form T (Timber), Forest Activities Schedule, for more information. Federal income tax forms 1040ez Form T. Federal income tax forms 1040ez   Complete and attach Form T (Timber) to your income tax return if you claim a deduction for timber depletion, choose to treat the cutting of timber as a sale or exchange, or make an outright sale of timber. Federal income tax forms 1040ez Prev  Up  Next   Home   More Online Publications
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The Federal Income Tax Forms 1040ez

Federal income tax forms 1040ez 6. Federal income tax forms 1040ez   How To Get Tax Help Table of Contents Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Federal income tax forms 1040ez Free help with your return. Federal income tax forms 1040ez   You can get free help preparing your return nationwide from IRS-certified volunteers. Federal income tax forms 1040ez The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Federal income tax forms 1040ez The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Federal income tax forms 1040ez Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Federal income tax forms 1040ez In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Federal income tax forms 1040ez To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Federal income tax forms 1040ez gov, download the IRS2Go app, or call 1-800-906-9887. Federal income tax forms 1040ez   As part of the TCE program, AARP offers the Tax-Aide counseling program. Federal income tax forms 1040ez To find the nearest AARP Tax-Aide site, visit AARP's website at www. Federal income tax forms 1040ez aarp. Federal income tax forms 1040ez org/money/taxaide or call 1-888-227-7669. Federal income tax forms 1040ez For more information on these programs, go to IRS. Federal income tax forms 1040ez gov and enter “VITA” in the search box. Federal income tax forms 1040ez   For more information on these programs, go to IRS. Federal income tax forms 1040ez gov and enter “VITA” in the search box. Federal income tax forms 1040ez Internet. Federal income tax forms 1040ez    IRS. Federal income tax forms 1040ez gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Federal income tax forms 1040ez Download the free IRS2Go app from the iTunes app store or from Google Play. Federal income tax forms 1040ez Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Federal income tax forms 1040ez Check the status of your 2013 refund with the Where's My Refund? application on IRS. Federal income tax forms 1040ez gov or download the IRS2Go app and select the Refund Status option. Federal income tax forms 1040ez The IRS issues more than 9 out of 10 refunds in less than 21 days. Federal income tax forms 1040ez Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Federal income tax forms 1040ez You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Federal income tax forms 1040ez The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Federal income tax forms 1040ez Use the Interactive Tax Assistant (ITA) to research your tax questions. Federal income tax forms 1040ez No need to wait on the phone or stand in line. Federal income tax forms 1040ez The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Federal income tax forms 1040ez When you reach the response screen, you can print the entire interview and the final response for your records. Federal income tax forms 1040ez New subject areas are added on a regular basis. Federal income tax forms 1040ez  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Federal income tax forms 1040ez gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Federal income tax forms 1040ez You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Federal income tax forms 1040ez The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Federal income tax forms 1040ez When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Federal income tax forms 1040ez Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Federal income tax forms 1040ez You can also ask the IRS to mail a return or an account transcript to you. Federal income tax forms 1040ez Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Federal income tax forms 1040ez gov or by calling 1-800-908-9946. Federal income tax forms 1040ez Tax return and tax account transcripts are generally available for the current year and the past three years. Federal income tax forms 1040ez Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Federal income tax forms 1040ez Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Federal income tax forms 1040ez If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Federal income tax forms 1040ez Check the status of your amended return using Where's My Amended Return? Go to IRS. Federal income tax forms 1040ez gov and enter Where's My Amended Return? in the search box. Federal income tax forms 1040ez You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Federal income tax forms 1040ez It can take up to 3 weeks from the date you mailed it to show up in our system. Federal income tax forms 1040ez Make a payment using one of several safe and convenient electronic payment options available on IRS. Federal income tax forms 1040ez gov. Federal income tax forms 1040ez Select the Payment tab on the front page of IRS. Federal income tax forms 1040ez gov for more information. Federal income tax forms 1040ez Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Federal income tax forms 1040ez Figure your income tax withholding with the IRS Withholding Calculator on IRS. Federal income tax forms 1040ez gov. Federal income tax forms 1040ez Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Federal income tax forms 1040ez Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Federal income tax forms 1040ez gov. Federal income tax forms 1040ez Request an Electronic Filing PIN by going to IRS. Federal income tax forms 1040ez gov and entering Electronic Filing PIN in the search box. Federal income tax forms 1040ez Download forms, instructions and publications, including accessible versions for people with disabilities. Federal income tax forms 1040ez Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Federal income tax forms 1040ez gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Federal income tax forms 1040ez An employee can answer questions about your tax account or help you set up a payment plan. Federal income tax forms 1040ez Before you visit, check the Office Locator on IRS. Federal income tax forms 1040ez gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Federal income tax forms 1040ez If you have a special need, such as a disability, you can request an appointment. Federal income tax forms 1040ez Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Federal income tax forms 1040ez Apply for an Employer Identification Number (EIN). Federal income tax forms 1040ez Go to IRS. Federal income tax forms 1040ez gov and enter Apply for an EIN in the search box. Federal income tax forms 1040ez Read the Internal Revenue Code, regulations, or other official guidance. Federal income tax forms 1040ez Read Internal Revenue Bulletins. Federal income tax forms 1040ez Sign up to receive local and national tax news and more by email. Federal income tax forms 1040ez Just click on “subscriptions” above the search box on IRS. Federal income tax forms 1040ez gov and choose from a variety of options. Federal income tax forms 1040ez Phone. Federal income tax forms 1040ez    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Federal income tax forms 1040ez Download the free IRS2Go app from the iTunes app store or from Google Play. Federal income tax forms 1040ez Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Federal income tax forms 1040ez gov, or download the IRS2Go app. Federal income tax forms 1040ez Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Federal income tax forms 1040ez The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Federal income tax forms 1040ez Most VITA and TCE sites offer free electronic filing. Federal income tax forms 1040ez Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Federal income tax forms 1040ez Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Federal income tax forms 1040ez Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Federal income tax forms 1040ez If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Federal income tax forms 1040ez The IRS issues more than 9 out of 10 refunds in less than 21 days. Federal income tax forms 1040ez Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Federal income tax forms 1040ez Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Federal income tax forms 1040ez The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Federal income tax forms 1040ez Note, the above information is for our automated hotline. Federal income tax forms 1040ez Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Federal income tax forms 1040ez Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Federal income tax forms 1040ez You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Federal income tax forms 1040ez It can take up to 3 weeks from the date you mailed it to show up in our system. Federal income tax forms 1040ez Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Federal income tax forms 1040ez You should receive your order within 10 business days. Federal income tax forms 1040ez Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Federal income tax forms 1040ez If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Federal income tax forms 1040ez Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Federal income tax forms 1040ez The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Federal income tax forms 1040ez These individuals can also contact the IRS through relay services such as the Federal Relay Service. Federal income tax forms 1040ez Walk-in. Federal income tax forms 1040ez   You can find a selection of forms, publications and services — in-person. Federal income tax forms 1040ez Products. Federal income tax forms 1040ez You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Federal income tax forms 1040ez Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Federal income tax forms 1040ez Services. Federal income tax forms 1040ez You can walk in to your local TAC for face-to-face tax help. Federal income tax forms 1040ez An employee can answer questions about your tax account or help you set up a payment plan. Federal income tax forms 1040ez Before visiting, use the Office Locator tool on IRS. Federal income tax forms 1040ez gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Federal income tax forms 1040ez Mail. Federal income tax forms 1040ez   You can send your order for forms, instructions, and publications to the address below. Federal income tax forms 1040ez You should receive a response within 10 business days after your request is received. Federal income tax forms 1040ez Internal Revenue Service 1201 N. Federal income tax forms 1040ez Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Federal income tax forms 1040ez The Taxpayer Advocate Service (TAS) is your voice at the IRS. Federal income tax forms 1040ez Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Federal income tax forms 1040ez   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Federal income tax forms 1040ez We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Federal income tax forms 1040ez You face (or your business is facing) an immediate threat of adverse action. Federal income tax forms 1040ez You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Federal income tax forms 1040ez   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Federal income tax forms 1040ez Here's why we can help: TAS is an independent organization within the IRS. Federal income tax forms 1040ez Our advocates know how to work with the IRS. Federal income tax forms 1040ez Our services are free and tailored to meet your needs. Federal income tax forms 1040ez We have offices in every state, the District of Columbia, and Puerto Rico. Federal income tax forms 1040ez   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Federal income tax forms 1040ez   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Federal income tax forms 1040ez If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Federal income tax forms 1040ez Low Income Taxpayer Clinics   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Federal income tax forms 1040ez Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Federal income tax forms 1040ez Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Federal income tax forms 1040ez Prev  Up  Next   Home   More Online Publications