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File 2012 tax 10. File 2012 tax   Indoor Tanning Services Tax Table of Contents The tax on indoor tanning service is 10% of the amount paid for that service. File 2012 tax The tax is paid by the person paying for the services and is collected by the person receiving payment for the indoor tanning services. File 2012 tax Definition of indoor tanning services. File 2012 tax   Indoor tanning service means a service employing any electronic product designed to incorporate one or more ultraviolet lamps and intended for the irradiation of an individual by ultraviolet radiation, with wavelengths in air between 200 and 400 nanometers, to induce skin tanning. File 2012 tax The term does not include phototherapy service performed by, and on the premises of, a licensed medical professional (such as a dermatologist, psychologist, or registered nurse). File 2012 tax See regulations section 49. File 2012 tax 5000B-1 for more information, and special rules for qualified physical fitness facilities, undesignated payment cards, and bundled payments. File 2012 tax File Form 720. File 2012 tax   The person receiving the payment for indoor tanning services (collector) must collect and remit the tax and file the return. File 2012 tax If the tax is not collected for any reason, the collector is liable for the tax. File 2012 tax The collector is not required to make semimonthly deposits of the tax. File 2012 tax Prev  Up  Next   Home   More Online Publications
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The File 2012 Tax

File 2012 tax 1. File 2012 tax   Filing and Paying Business Taxes Table of Contents Introduction Useful Items - You may want to see: Identification NumbersNew EIN. File 2012 tax Employee. File 2012 tax Other payee. File 2012 tax Income TaxDo I Have To File an Income Tax Return? How Do I File? IRS e-file (Electronic Filing) When Is My Tax Return Due? How Do I Pay Income Tax? Self-Employment (SE) TaxHow to become insured under social security. File 2012 tax Earning credits in 2013 and 2014. File 2012 tax Employment Taxes Excise Taxes Information ReturnsWaiver of penalties. File 2012 tax Penalties. File 2012 tax Introduction This chapter explains the business taxes you may have to pay and the forms you may have to file. File 2012 tax It also discusses taxpayer identification numbers. File 2012 tax Table 1-1 lists the benefits of filing electronically. File 2012 tax Table 1-2 lists the federal taxes you may have to pay, their due dates, and the forms you use to report them. File 2012 tax Table 1-3 provides checklists that highlight the typical forms and schedules you may need to file if you ever go out of business. File 2012 tax You may want to get Publication 509, Tax Calendars. File 2012 tax It has tax calendars that tell you when to file returns and make tax payments. File 2012 tax Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) 1040 U. File 2012 tax S. File 2012 tax Individual Income Tax Return 1040-ES Estimated Tax for Individuals Sch C (Form 1040) Profit or Loss From Business Sch C-EZ (Form 1040) Net Profit From Business Sch SE (Form 1040) Self-Employment Tax See chapter 12 for information about getting publications and forms. File 2012 tax Identification Numbers This section explains three types of taxpayer identification numbers, who needs them, when to use them, and how to get them. File 2012 tax Social security number (SSN). File 2012 tax   Generally, use your SSN as your taxpayer identification number. File 2012 tax You must put this number on each of your individual income tax forms, such as Form 1040 and its schedules. File 2012 tax   To apply for an SSN, use Form SS-5, Application for a Social Security Card. File 2012 tax This form is available at Social Security Administration (SSA) offices or by calling 1-800-772-1213. File 2012 tax It is also available from the SSA website at www. File 2012 tax socialsecurity. File 2012 tax gov. File 2012 tax Individual taxpayer identification number (ITIN). File 2012 tax   The IRS will issue an ITIN if you are a nonresident or resident alien and you do not have and are not eligible to get an SSN. File 2012 tax In general, if you need to obtain an ITIN, you must attach Form W-7, Application for IRS Individual Taxpayer Identification Number, with your signed, original, completed tax return and any other required documentation and mail them to the following address. File 2012 tax  Internal Revenue Service ITIN Operation P. File 2012 tax O. File 2012 tax Box 149342 Austin, TX 78714-9342 The exceptions are covered in detail in the instructions for Form W-7. File 2012 tax If you must include another person's SSN on your return and that person does not have and cannot get an SSN, enter that person's ITIN. File 2012 tax The application is also available in Spanish. File 2012 tax The form is available at IRS. File 2012 tax gov or you can call 1-800-829-3676 to order the form. File 2012 tax    An ITIN is for tax use only. File 2012 tax It does not entitle the holder to social security benefits or change the holder's employment or immigration status. File 2012 tax Employer identification number (EIN). File 2012 tax   You must also have an EIN to use as a taxpayer identification number if you do either of the following. File 2012 tax Pay wages to one or more employees. File 2012 tax File pension or excise tax returns. File 2012 tax   If you must have an EIN, include it along with your SSN on your Schedule C or C-EZ. File 2012 tax   You can apply for an EIN: Online by clicking on the Employer ID Numbers (EINs) link at www. File 2012 tax irs. File 2012 tax gov/businesses/small. File 2012 tax The EIN is issued immediately once the application information is validated. File 2012 tax By telephone at 1-800-829-4933. File 2012 tax By mailing or faxing Form SS-4, Application for Employer Identification Number. File 2012 tax New EIN. File 2012 tax   You may need to get a new EIN if either the form or the ownership of your business changes. File 2012 tax For more information, see Publication 1635, Understanding Your EIN. File 2012 tax When you need identification numbers of other persons. File 2012 tax   In operating your business, you will probably make certain payments you must report on information returns. File 2012 tax These payments are discussed under Information Returns, later in this chapter. File 2012 tax You must give the recipient of these payments (the payee) a statement showing the total amount paid during the year. File 2012 tax You must include the payee's identification number and your identification number on the returns and statements. File 2012 tax Employee. File 2012 tax   If you have employees, you must get an SSN from each of them. File 2012 tax Record the name and SSN of each employee exactly as they are shown on the employee's social security card. File 2012 tax If the employee's name is not correct as shown on the card, the employee should request a new card from the SSA. File 2012 tax This may occur if the employee's name was changed due to marriage or divorce. File 2012 tax   Form W-4, Employee's Withholding Allowance Certificate, is completed by each employee so the correct federal income tax can be withheld from their pay. File 2012 tax   If your employee does not have an SSN, he or she should file Form SS-5 with the SSA. File 2012 tax Other payee. File 2012 tax   If you make payments to someone who is not your employee and you must report the payments on an information return, get that person's SSN. File 2012 tax If you must report payments to an organization, such as a corporation or partnership, you must get its EIN. File 2012 tax   To get the payee's SSN or EIN, use Form W-9, Request for Taxpayer Identification Number and Certification. File 2012 tax   A payee who does not provide you with an identification number may be subject to backup withholding. File 2012 tax For information on backup withholding, see the Form W-9 instructions and the General Instructions for Certain Information Returns. File 2012 tax Income Tax This part explains whether you have to file an income tax return and when you file it. File 2012 tax It also explains how you pay the tax. File 2012 tax Do I Have To File an Income Tax Return? You have to file an income tax return for 2013 if your net earnings from self-employment were $400 or more. File 2012 tax If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions. File 2012 tax How Do I File? File your income tax return on Form 1040 and attach Schedule C or Schedule C-EZ. File 2012 tax Enter the net profit or loss from Schedule C or Schedule C-EZ on page 1 of Form 1040. File 2012 tax Use Schedule C to figure your net profit or loss from your business. File 2012 tax If you operated more than one business as a sole proprietorship, you must attach a separate Schedule C for each business. File 2012 tax You can use the simpler Schedule C-EZ if you operated only one business as a sole proprietorship, you did not have a net loss, and you meet the other requirements listed in Part I of the schedule. File 2012 tax IRS e-file (Electronic Filing) Please click here for the text description of the image. File 2012 tax E-file logo You may be able to file your tax returns electronically using an IRS e-file option. File 2012 tax Table 1-1 lists the benefits of IRS e-file. File 2012 tax IRS e-file uses automation to replace most of the manual steps needed to process paper returns. File 2012 tax As a result, the processing of e-file returns is faster and more accurate than the processing of paper returns. File 2012 tax As with a paper return, you are responsible for making sure your return contains accurate information and is filed on time. File 2012 tax Using e-file does not affect your chances of an IRS examination of your return. File 2012 tax You can file most commonly used business forms using IRS e-file. File 2012 tax For more information, visit IRS. File 2012 tax gov. File 2012 tax Electronic signatures. File 2012 tax   Paperless filing is easier than you think and it's available to most taxpayers who file electronically—including those first-time filers who were 16 or older at the end of 2013. File 2012 tax If you file electronically using tax preparation software or a tax professional, you will participate in the Self-Select PIN (personal identification number) program. File 2012 tax If you are married filing jointly, you and your spouse will each need to create a PIN and enter these PINs as your electronic signatures. File 2012 tax    To create a PIN, you must know your adjusted gross income (AGI) from your originally filed 2012 income tax return (not from an amended return, Form 1040X, or any math error notice from the IRS). File 2012 tax You will also need to provide your date of birth (DOB). File 2012 tax Make sure your DOB is accurate and matches the information on record with the Social Security Administration before you e-file. File 2012 tax To do this, check your annual Social Security Statement. File 2012 tax   With a Self-Select PIN, there is nothing to sign and nothing to mail—not even your Forms W-2. File 2012 tax For more details on the Self-Select PIN program, visit IRS. File 2012 tax gov. File 2012 tax State returns. File 2012 tax   In most states, you can file an electronic state return simultaneously with your federal return. File 2012 tax For more information, check with your local IRS office, state tax agency, tax professional, or IRS. File 2012 tax gov. File 2012 tax Refunds. File 2012 tax   You can have your refund check mailed to you, or you can have your refund deposited directly to your checking or savings account. File 2012 tax   With e-file, your refund will be issued in half the time as when filing on paper. File 2012 tax Most refunds are issued within 3 weeks. File 2012 tax If you choose Direct Deposit, you can receive your refund in as few as 10 days. File 2012 tax Offset against debts. File 2012 tax   As with a paper return, you may not get all of your refund if you owe certain past-due amounts, such as federal tax, state tax, a student loan, or child support. File 2012 tax You will be notified if the refund you claimed has been offset against your debts. File 2012 tax Refund inquiries. File 2012 tax   You can check the status of your refund if it has been at least 24 hours (4 weeks if you mailed a paper return) from the date you filed your return. File 2012 tax Be sure to have a copy of your tax return available because you will need to know the filing status, the first social security number shown on the return, and the exact whole-dollar amount of the refund. File 2012 tax To check on your refund, do one of the following. File 2012 tax Go to IRS. File 2012 tax gov and click on Where's My Refund. File 2012 tax Call 1-800-829-4477 for automated refund information, and follow the recorded instructions. File 2012 tax Call 1-800-829-1954 during the hours shown in your form instructions. File 2012 tax Balance due. File 2012 tax   If you owe tax, you must pay it by April 15, 2014, to avoid late-payment penalties and interest. File 2012 tax You can make your payment electronically by scheduling an electronic funds withdrawal from your checking or savings account or by credit card. File 2012 tax Using an Authorized IRS e-file Provider Many tax professionals can electronically file paperless returns for their clients. File 2012 tax You have two options. File 2012 tax You can prepare your return, take it to an authorized IRS e-file provider, and have the provider transmit it electronically to the IRS. File 2012 tax You can have an authorized IRS e-file provider prepare your return and transmit it for you electronically. File 2012 tax You will be asked to complete Form 8879, IRS e-file Signature Authorization, to authorize the provider to enter your self-selected PIN on your return. File 2012 tax Depending on the provider and the specific services requested, a fee may be charged. File 2012 tax To find an authorized IRS e-file provider near you, go to IRS. File 2012 tax gov or look for an “Authorized IRS e-file Provider” sign. File 2012 tax Using Your Personal Computer A computer with Internet access is all you need to file your tax return using IRS e-file. File 2012 tax When you use your personal computer, you can e-file your return from your home any time of the day or night. File 2012 tax Sign your return electronically using a self-selected PIN to complete the process. File 2012 tax There is no signature form to submit or Forms W-2 to send in. File 2012 tax Free Internet filing options. File 2012 tax   More taxpayers can now prepare and e-file their individual income tax returns free using commercial tax preparation software accessible through IRS. File 2012 tax gov or www. File 2012 tax usa. File 2012 tax gov. File 2012 tax The IRS is partnering with the tax software industry to offer free preparation and filing services to a significant number of taxpayers. File 2012 tax Security and privacy certificate programs will assure tax data is safe and secure. File 2012 tax To see if you qualify for these services, visit the Return Preparation and Filing Options page at IRS. File 2012 tax gov. File 2012 tax   If you cannot use the free services, you can buy tax preparation software at various electronics stores or computer and office supply stores. File 2012 tax You can also download software from the Internet or prepare and file your return completely online by using tax preparation software available on the Internet. File 2012 tax Filing Through Employers and Financial Institutions Some businesses offer free e-file to their employees, members, or customers. File 2012 tax Others offer it for a fee. File 2012 tax Ask your employer or financial institution if they offer IRS e-file as an employee, member, or customer benefit. File 2012 tax Free Help With Your Return Free help in preparing your return is available nationwide from IRS-trained volunteers. File 2012 tax The Volunteer Income Tax Assistance (VITA) program is designed to help low-income taxpayers, and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 or older with their tax returns. File 2012 tax Some locations offer free electronic filing. File 2012 tax Table 1-1. File 2012 tax Benefits of IRS e-file Accuracy • Your chance of getting an error notice from the IRS is significantly reduced. File 2012 tax Security • Your privacy and security are assured. File 2012 tax Electronic signatures • Create your own personal identification number (PIN) and file a completely paperless return through your tax preparation software or tax professional. File 2012 tax There is nothing to mail. File 2012 tax Proof of acceptance • You receive an electronic acknowledgment within 48 hours that the IRS has accepted your return for processing. File 2012 tax Fast refunds • You get your refund faster with Direct Deposit—in as few as 10 days. File 2012 tax Free Internet filing options • Use IRS. File 2012 tax gov to access commercial tax preparation and e-file services available at no cost to eligible taxpayers. File 2012 tax Electronic payment options • Convenient, safe, and secure electronic payment options are available. File 2012 tax E-file and pay your taxes in a single step. File 2012 tax Schedule an electronic funds withdrawal from your checking or savings account (up to and including April 15, 2014) or pay by credit card. File 2012 tax Federal/State filing • Prepare and file your federal and state tax returns together and double the benefits you get from e-file. File 2012 tax When Is My Tax Return Due? Form 1040 for calendar year 2013 is due by April 15, 2014. File 2012 tax If you use a fiscal year (explained in chapter 2), your return is due by the 15th day of the 4th month after the end of your fiscal year. File 2012 tax If you file late, you may have to pay penalties and interest. File 2012 tax If you cannot file your return on time, use Form 4868, Application for Automatic Extension of Time To File U. File 2012 tax S. File 2012 tax Individual Income Tax Return, to request an automatic 6-month extension. File 2012 tax For calendar year taxpayers, this will extend the tax filing due date until October 15. File 2012 tax Filing an extension does not extend the time to pay your taxes, only the time to file the tax return. File 2012 tax How Do I Pay Income Tax? Federal income tax is a pay-as-you-go tax. File 2012 tax You must pay it as you earn or receive income during the year. File 2012 tax An employee usually has income tax withheld from his or her pay. File 2012 tax If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. File 2012 tax You generally have to make estimated tax payments if you expect to owe taxes, including self-employment tax (discussed later), of $1,000 or more when you file your return. File 2012 tax Use Form 1040-ES to figure and pay the tax. File 2012 tax If you do not have to make estimated tax payments, you can pay any tax due when you file your return. File 2012 tax For more information on estimated tax, see Publication 505, Tax Withholding and Estimated Tax. File 2012 tax What are my payment options?   You can pay your estimated tax electronically using various options. File 2012 tax If you pay electronically, there is no need to mail in Form 1040-ES payment vouchers. File 2012 tax These options include: Paying electronically through the Electronic Federal Tax Payment System (EFTPS). File 2012 tax Paying by authorizing an electronic funds withdrawal when you file Form 1040 electronically. File 2012 tax Paying by credit or debit card over the phone or by Internet. File 2012 tax Other options include crediting an overpayment from your 2013 return to your 2014 estimated tax, or mailing a check or money order with a Form 1040-ES payment voucher. File 2012 tax EFTPS    To enroll in EFTPS, go to www. File 2012 tax eftps. File 2012 tax gov or call 1-800-555-4477. File 2012 tax When you request a new EIN and you will have a tax obligation, you are automatically enrolled in EFTPS. File 2012 tax Benefits of EFTPS: The chance of an error in making your payments is reduced. File 2012 tax You receive immediate confirmation of every transaction. File 2012 tax Penalty for underpayment of tax. File 2012 tax   If you did not pay enough income tax and self-employment tax for 2013 by withholding or by making estimated tax payments, you may have to pay a penalty on the amount not paid. File 2012 tax The IRS will figure the penalty for you and send you a bill. File 2012 tax Or you can use Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts, to see if you have to pay a penalty and to figure the penalty amount. File 2012 tax For more information, see Publication 505. File 2012 tax Self-Employment (SE) Tax Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. File 2012 tax It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. File 2012 tax If you earned income as a statutory employee, you do not pay SE tax on that income. File 2012 tax Social security coverage. File 2012 tax   Social security benefits are available to self-employed persons just as they are to wage earners. File 2012 tax Your payments of SE tax contribute to your coverage under the social security system. File 2012 tax Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. File 2012 tax By not reporting all of your self-employment income, you could cause your social security benefits to be lower when you retire. File 2012 tax How to become insured under social security. File 2012 tax   You must be insured under the social security system before you begin receiving social security benefits. File 2012 tax You are insured if you have the required number of credits (also called quarters of coverage), discussed next. File 2012 tax Earning credits in 2013 and 2014. File 2012 tax   For 2013, you received one credit, up to a maximum of four credits, for each $1,160 ($1,200 for 2014) of income subject to social security taxes. File 2012 tax Therefore, for 2013, if you had income (self-employment and wages) of $4,640 that was subject to social security taxes, you receive four credits ($4,640 ÷ $1,160). File 2012 tax   For an explanation of the number of credits you must have to be insured and the benefits available to you and your family under the social security program, consult your nearest Social Security Administration (SSA) office. File 2012 tax    Making false statements to get or to increase social security benefits may subject you to penalties. File 2012 tax The Social Security Administration (SSA) time limit for posting self-employment income. File 2012 tax   Generally, the SSA will give you credit only for self-employment income reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. File 2012 tax If you file your tax return or report a change in your self-employment income after this time limit, the SSA may change its records, but only to remove or reduce the amount. File 2012 tax The SSA will not change its records to increase your self-employment income. File 2012 tax Who must pay self-employment tax. File 2012 tax   You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies. File 2012 tax Your net earnings from self-employment (excluding church employee income) were $400 or more. File 2012 tax You had church employee income of $108. File 2012 tax 28 or more. File 2012 tax The SE tax rules apply no matter how old you are and even if you are already receiving social security or Medicare benefits. File 2012 tax SE tax rate. File 2012 tax   For 2013, the SE tax rate on net earnings is 15. File 2012 tax 3% (12. File 2012 tax 4% social security tax plus 2. File 2012 tax 9% Medicare tax). File 2012 tax Maximum earnings subject to SE tax. File 2012 tax   Only the first $113,700 of your combined wages, tips, and net earnings in 2013 is subject to any combination of the 12. File 2012 tax 4% social security part of SE tax, social security tax, or railroad retirement (tier 1) tax. File 2012 tax   All your combined wages, tips, and net earnings in 2013 are subject to any combination of the 2. File 2012 tax 9% Medicare part of SE tax, social security tax, or railroad retirement (tier 1) tax. File 2012 tax   If wages and tips you receive as an employee are subject to either social security or railroad retirement (tier 1) tax, or both, and total at least $113,700, do not pay the 12. File 2012 tax 4% social security part of the SE tax on any of your net earnings. File 2012 tax However, you must pay the 2. File 2012 tax 9% Medicare part of the SE tax on all your net earnings. File 2012 tax Deduct one-half of your SE tax as an adjustment to income on line 27 of Form 1040. File 2012 tax   More information. File 2012 tax   For information on methods of calculating SE tax, see Chapter 10, Self-Employment Tax. File 2012 tax Table 1-2. File 2012 tax Which Forms Must I File? IF you are liable for: THEN use Form: DUE by:1 Income tax 1040 and Schedule C or C-EZ2 15th day of 4th month after end of  tax year. File 2012 tax Self-employment tax Schedule SE File with Form 1040. File 2012 tax Estimated tax 1040-ES 15th day of 4th, 6th, and 9th months of tax year, and 15th day of 1st month after the end of tax year. File 2012 tax Social security and Medicare taxes and income tax withholding 941 or 944 April 30, July 31, October 31, and January 313. File 2012 tax     See Publication 15. File 2012 tax Providing information on social security and Medicare taxes and income tax withholding W-2 (to employee)  W-2 and W-3 (to the Social Security Administration) January 313. File 2012 tax   Last day of February (March 31 if filing electronically)3. File 2012 tax Federal unemployment (FUTA) tax 940 January 313. File 2012 tax     April 30, July 31, October 31, and January 31, but only if the liability for unpaid tax is more than $500. File 2012 tax Filing information returns for payments to nonemployees and transactions with other persons See Information Returns Forms 1099 – to the recipient by January 31 and to the IRS by February 28 (March 31 if filing electronically). File 2012 tax     Other forms – see the General Instructions for Certain Information Returns. File 2012 tax Excise tax See Excise Taxes See the instructions to the forms. File 2012 tax 1 If a due date falls on a Saturday, Sunday, or legal holiday, file by the next day that is not a Saturday, Sunday, or legal holiday. File 2012 tax For more information, see Publication 509, Tax Calendars. File 2012 tax 2 File a separate schedule for each business. File 2012 tax 3 See the form instructions if you go out of business, change the form of your business, or stop paying wages. File 2012 tax     Employment Taxes If you have employees, you will need to file forms to report employment taxes. File 2012 tax Employment taxes include the following items. File 2012 tax Social security and Medicare taxes. File 2012 tax Federal income tax withholding. File 2012 tax Federal unemployment (FUTA) tax. File 2012 tax For more information, see Publication 15 (Circular E), Employer's Tax Guide. File 2012 tax That publication explains your tax responsibilities as an employer. File 2012 tax To help you determine whether the people working for you are your employees, see Publication 15-A, Employer's Supplemental Tax Guide. File 2012 tax That publication has information to help you determine whether an individual is an independent contractor or an employee. File 2012 tax If you incorrectly classify an employee as an independent contractor, you may be held liable for employment taxes for that worker plus a penalty. File 2012 tax An independent contractor is someone who is self-employed. File 2012 tax You do not generally have to withhold or pay any taxes on payments made to an independent contractor. File 2012 tax Excise Taxes This section identifies some of the excise taxes you may have to pay and the forms you have to file if you do any of the following. File 2012 tax Manufacture or sell certain products. File 2012 tax Operate certain kinds of businesses. File 2012 tax Use various kinds of equipment, facilities, or products. File 2012 tax Receive payment for certain services. File 2012 tax For more information on excise taxes, see Publication 510, Excise Taxes. File 2012 tax Form 720. File 2012 tax   The federal excise taxes reported on Form 720, Quarterly Federal Excise Tax Return, consist of several broad categories of taxes, including the following. File 2012 tax Environmental taxes on the sale or use of ozone-depleting chemicals and imported products containing or manufactured with these chemicals. File 2012 tax Communications and air transportation taxes. File 2012 tax Fuel taxes. File 2012 tax Tax on the first retail sale of heavy trucks, trailers, and tractors. File 2012 tax Manufacturers taxes on the sale or use of a variety of different articles. File 2012 tax Tax on indoor tanning services. File 2012 tax Form 2290. File 2012 tax   There is a federal excise tax on the use of certain trucks, truck tractors, and buses on public highways. File 2012 tax The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. File 2012 tax Report the tax on Form 2290, Heavy Highway Vehicle Use Tax Return. File 2012 tax For more information, see the Instructions for Form 2290. File 2012 tax Depositing excise taxes. File 2012 tax   If you have to file a quarterly excise tax return on Form 720, you may have to deposit your excise taxes before the return is due. File 2012 tax For details on depositing excise taxes, see the Instructions for Form 720. File 2012 tax Information Returns If you make or receive payments in your business, you may have to report them to the IRS on information returns. File 2012 tax The IRS compares the payments shown on the information returns with each person's income tax return to see if the payments were included in income. File 2012 tax You must give a copy of each information return you are required to file to the recipient or payer. File 2012 tax In addition to the forms described below, you may have to use other returns to report certain kinds of payments or transactions. File 2012 tax For more details on information returns and when you have to file them, see the General Instructions for Certain Information Returns. File 2012 tax Form 1099-MISC. File 2012 tax   Use Form 1099-MISC, Miscellaneous Income, to report certain payments you make in your business. File 2012 tax These payments include the following items. File 2012 tax Payments of $600 or more for services performed for your business by people not treated as your employees, such as fees to subcontractors, attorneys, accountants, or directors. File 2012 tax Rent payments of $600 or more, other than rents paid to real estate agents. File 2012 tax Prizes and awards of $600 or more that are not for services, such as winnings on TV or radio shows. File 2012 tax Royalty payments of $10 or more. File 2012 tax Payments to certain crew members by operators of fishing boats. File 2012 tax You also use Form 1099-MISC to report your sales of $5,000 or more of consumer goods to a person for resale anywhere other than in a permanent retail establishment. File 2012 tax Form W-2. File 2012 tax   You must file Form W-2, Wage and Tax Statement, to report payments to your employees, such as wages, tips, and other compensation, withheld income, social security, and Medicare taxes. File 2012 tax You can file Form W-2 online. File 2012 tax For more information about Form W-2, see the General Instructions for Forms W-2 and W-3. File 2012 tax Penalties. File 2012 tax   The law provides for the following penalties if you do not file Form 1099-MISC or Form W-2 or do not correctly report the information. File 2012 tax For more information, see the General Instructions for Certain Information Returns. File 2012 tax Failure to file information returns. File 2012 tax This penalty applies if you do not file information returns by the due date, do not include all required information, or report incorrect information. File 2012 tax Failure to furnish correct payee statements. File 2012 tax This penalty applies if you do not furnish a required statement to a payee by the required date, do not include all required information, or report incorrect information. File 2012 tax Waiver of penalties. File 2012 tax   These penalties will not apply if you can show that the failure was due to reasonable cause and not willful neglect. File 2012 tax   In addition, there is no penalty for failure to include all required information, or for including incorrect information, on a de minimis (small) number of information returns if you correct the errors by August 1 of the year the returns are due. File 2012 tax (A de minimis number of returns is the greater of 10 or ½ of 1% of the total number of returns you are required to file for the year. File 2012 tax ) Form 8300. File 2012 tax   You must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you receive more than $10,000 in cash in one transaction, or two or more related business transactions. File 2012 tax Cash includes U. File 2012 tax S. File 2012 tax and foreign coin and currency. File 2012 tax It also includes certain monetary instruments such as cashier's and traveler's checks and money orders. File 2012 tax Cash does not include a check drawn on an individual's personal account (personal check). File 2012 tax For more information, see Publication 1544, Reporting Cash Payments of Over $10,000 (Received in a Trade or Business). File 2012 tax Penalties. File 2012 tax   There are civil and criminal penalties, including up to 5 years in prison, for not filing Form 8300, filing (or causing the filing of) a false or fraudulent Form 8300, or structuring a transaction to evade reporting requirements. File 2012 tax Table 1-3. File 2012 tax Going Out of Business Checklists (Note. File 2012 tax The following checklists highlight the typical final forms and schedules you may need to file if you ever go out of business. File 2012 tax For more information, see the instructions for the listed forms. File 2012 tax ) IF you are liable for:   THEN you may need to: Income tax □ File Schedule C or C-EZ with your Form 1040 for the year in which you go out of business. File 2012 tax   □ File Form 4797 with your Form 1040 for each year in which you sell or exchange property used in your business or in which the business use of certain section 179 or listed property drops to 50% or less. File 2012 tax   □ File Form 8594 with your Form 1040 if you sold your business. File 2012 tax Self-employment tax □ File Schedule SE with your Form 1040 for the year in which you go out of business. File 2012 tax Employment taxes □ File Form 941 (or Form 944) for the calendar quarter in which you make final wage payments. File 2012 tax Note. File 2012 tax Do not forget to check the box and enter the date final wages were paid on line 15 of Form 941 or line 14 of Form 944. File 2012 tax   □ File Form 940 for the calendar year in which final wages were paid. File 2012 tax Note. File 2012 tax Do not forget to check box d, Final: Business closed or stopped paying wages, under Type of Return. File 2012 tax Information returns □ Provide Forms W-2 to your employees for the calendar year in which you make final wage payments. File 2012 tax Note. File 2012 tax These forms are generally due by the due date of your final Form 941 or Form 944. File 2012 tax   □ File Form W-3 to file Forms W-2. File 2012 tax Note. File 2012 tax These forms are generally due within 1 month after the due date of your final Form 941 or Form 944. File 2012 tax   □ Provide Forms 1099-MISC to each person to whom you have paid at least $600 for services (including parts and materials) during the calendar year in which you go out of business. File 2012 tax   □ File Form 1096 to file Forms 1099-MISC. File 2012 tax Prev  Up  Next   Home   More Online Publications