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Free E-file For 2011

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Free E-file For 2011

Free e-file for 2011 Depreciation Table of Contents Introduction Special Depreciation AllowanceQualified Property Election Not To Claim the Allowance Rules for Returns Filed Before June 1, 2002 Passenger Automobiles New York Liberty Zone BenefitsSpecial Liberty Zone Depreciation Allowance Increased Section 179 Deduction Liberty Zone Leasehold Improvement Property If you depreciate business property that you acquired and placed in service after September 10, 2001, new law contains provisions that may affect your depreciation deduction for that property. Free e-file for 2011 Publication 946, How To Depreciate Property, contains information on depreciation. Free e-file for 2011 However, Publication 946 does not contain the new provisions because it was printed before the law was enacted. Free e-file for 2011 The new provisions are in the Supplement to Publication 946, which is reprinted below. Free e-file for 2011 Supplement to Publication 946 How To Depreciate Property   Introduction After Publication 946 was printed, the Job Creation and Worker Assistance Act of 2002 was signed into law by the President. Free e-file for 2011 The new law made several changes in the tax rules explained in the publication. Free e-file for 2011 Some of the changes apply to property placed in service during 2001. Free e-file for 2011 This supplemental publication describes those changes and explains what you should do if you are affected by them. Free e-file for 2011 The situations and examples in Publication 946 do not reflect any of the changes made by the Job Creation and Worker Assistance Act of 2002. Free e-file for 2011 The new law contains the following provisions. Free e-file for 2011 30% depreciation deductions (special depreciation allowance and special New York Liberty Zone (Liberty Zone) depreciation allowance) for the year qualified property is placed in service after September 10, 2001. Free e-file for 2011 An increased dollar limit on the section 179 deduction for qualified Liberty Zone property purchased after September 10, 2001. Free e-file for 2011 A shorter recovery period for qualified Liberty Zone leasehold improvement property placed in service after September 10, 2001. Free e-file for 2011 An increase in the maximum depreciation deduction for 2001 for a qualified passenger automobile placed in service after September 10, 2001. Free e-file for 2011 If you believe you qualify for an increased deduction under any of these new rules, you must file the revised 2001 Form 4562 (dated March 2002) for 2001 calendar or fiscal years and 2000 fiscal years ending after September 10, 2001. Free e-file for 2011 If you have already filed a tax return, this supplemental publication explains how to claim these benefits and how to elect not to claim the special depreciation allowance or special Liberty Zone depreciation allowance. Free e-file for 2011 See Table 2 at the end of the supplement for an overview of the rules that apply if you filed your return before June 1, 2002. Free e-file for 2011 Special Depreciation Allowance You can take a special depreciation allowance for qualified property you place in service after September 10, 2001. Free e-file for 2011 The allowance is an additional deduction of 30% of the property's depreciable basis. Free e-file for 2011 To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. Free e-file for 2011 See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. Free e-file for 2011 The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. Free e-file for 2011 There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. Free e-file for 2011 In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. Free e-file for 2011 Example 1. Free e-file for 2011 On November 1, 2001, you bought and placed in service in your business qualified property that cost $100,000. Free e-file for 2011 You did not elect to claim a section 179 deduction. Free e-file for 2011 You can deduct 30% of the cost ($30,000) as a special depreciation allowance for 2001. Free e-file for 2011 You use the remaining $70,000 of cost to figure your regular depreciation deduction for 2001 and later years. Free e-file for 2011 Example 2. Free e-file for 2011 The facts are the same as in Example 1, except that you choose to deduct $24,000 of the property's cost as a section 179 deduction. Free e-file for 2011 You use the remaining $76,000 of cost to figure your special depreciation allowance of $22,800 ($76,000 × 30%). Free e-file for 2011 You use the remaining $53,200 of cost to figure your regular depreciation deduction for 2001 and later years. Free e-file for 2011 Qualified Property To qualify for the special depreciation allowance, your property must meet the following requirements. Free e-file for 2011 It is new property of one of the following types. Free e-file for 2011 Property depreciated under the modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less. Free e-file for 2011 See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. Free e-file for 2011 Water utility property. Free e-file for 2011 See 25-year property on page 22 in Publication 946. Free e-file for 2011 Computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. Free e-file for 2011 (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Free e-file for 2011 ) Qualified leasehold improvement property (defined later). Free e-file for 2011 It meets the following tests (explained later under Tests To Be Met). Free e-file for 2011 Acquisition date test. Free e-file for 2011 Placed in service date test. Free e-file for 2011 Original use test. Free e-file for 2011 It is not excepted property (explained later under Excepted Property). Free e-file for 2011 Qualified leasehold improvement property. Free e-file for 2011    Generally, this is any improvement to an interior part of a building that is nonresidential real property, provided all of the following requirements are met. Free e-file for 2011 The improvement is made under or pursuant to a lease by the lessee (or any sublessee) or the lessor of that part of the building. Free e-file for 2011 That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Free e-file for 2011 The improvement is placed in service more than 3 years after the date the building was first placed in service. Free e-file for 2011   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Free e-file for 2011 The enlargement of the building. Free e-file for 2011 Any elevator or escalator. Free e-file for 2011 Any structural component benefiting a common area. Free e-file for 2011 The internal structural framework of the building. Free e-file for 2011   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. Free e-file for 2011 However, a binding commitment between related persons is not treated as a lease. Free e-file for 2011 Related persons. Free e-file for 2011   For this purpose, the following are related persons. Free e-file for 2011 Members of an affiliated group. Free e-file for 2011 The persons listed in items (1) through (9) under Related persons on page 8 of Publication 946 (except that “80% or more” should be substituted for “more than 10%” each place it appears). Free e-file for 2011 An executor and a beneficiary of the same estate. Free e-file for 2011 Tests To Be Met To qualify for the special depreciation allowance, the property must meet all of the following tests. Free e-file for 2011 Acquisition date test. Free e-file for 2011    Generally, you must have acquired the property either: After September 10, 2001, and before September 11, 2004, but only if no written binding contract for the acquisition was in effect before September 11, 2001, or Pursuant to a written binding contract entered into after September 10, 2001, and before September 11, 2004. Free e-file for 2011   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001, and before September 11, 2004. Free e-file for 2011 Placed in service date test. Free e-file for 2011   Generally, the property must be placed in service for use in your trade or business or for the production of income after September 10, 2001, and before January 1, 2005. Free e-file for 2011   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. Free e-file for 2011 Original use test. Free e-file for 2011   The original use of the property must have begun with you after September 10, 2001. Free e-file for 2011 “Original use” means the first use to which the property is put, whether or not by you. Free e-file for 2011 Additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test. Free e-file for 2011 Excepted Property The following property does not qualify for the special depreciation allowance. Free e-file for 2011 Property used by any person before September 11, 2001. Free e-file for 2011 Property required to be depreciated using ADS. Free e-file for 2011 This includes listed property used 50% or less in a qualified business use. Free e-file for 2011 Qualified New York Liberty Zone leasehold improvement property (defined next). Free e-file for 2011 Qualified New York Liberty Zone leasehold improvement property. Free e-file for 2011   This is any qualified leasehold improvement property (as defined earlier) if all of the following requirements are met. Free e-file for 2011 The improvement is to a building located in the New York Liberty Zone (defined later under New York Liberty Zone Benefits). Free e-file for 2011 The improvement is placed in service after September 10, 2001, and before January 1, 2007. Free e-file for 2011 No written binding contract for the improvement was in effect before September 11, 2001. Free e-file for 2011 Election Not To Claim the Allowance You can elect not to claim the special depreciation allowance for qualified property. Free e-file for 2011 If you make this election for any property, it applies to all property in the same property class placed in service during the year. Free e-file for 2011 To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. Free e-file for 2011 When to make election. Free e-file for 2011   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Free e-file for 2011   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Free e-file for 2011 Attach the election statement to the amended return. Free e-file for 2011 At the top of the election statement, write “Filed pursuant to section 301. Free e-file for 2011 9100–2. Free e-file for 2011 ” Revoking an election. Free e-file for 2011   Once you elect not to deduct the special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Free e-file for 2011 A request to revoke the election is subject to a user fee. Free e-file for 2011 Rules for Returns Filed Before June 1, 2002 The following rules apply if you placed qualified property in service after September 10, 2001, and filed your return before June 1, 2002. Free e-file for 2011 The rules apply to returns for the following years. Free e-file for 2011 2000 fiscal years that end after September 10, 2001. Free e-file for 2011 2001 calendar and fiscal years. Free e-file for 2011 Claiming the allowance. Free e-file for 2011   If you did not claim the allowance on your return and did not make the election not to claim the allowance, you can do either of the following to claim the allowance. Free e-file for 2011 File an amended return by the due date (not including extensions) of your return for the year following the year the property was placed in service. Free e-file for 2011 Write “Filed Pursuant to Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33” at the top of the amended return. Free e-file for 2011 File Form 3115, Application for Change in Accounting Method, with your return for the year following the year the property was placed in service. Free e-file for 2011 Your return must be filed by the due date (including extensions). Free e-file for 2011 Write “Automatic Change Filed Under Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33” on the appropriate line of Form 3115. Free e-file for 2011 You must also file a copy (with signature) of the completed Form 3115 with the IRS National Office no later than when you file the original with your return. Free e-file for 2011 For more information about filing Form 3115, including the address to send it to, see Revenue Procedure 2002–9, Revenue Procedure 2002–19, and Revenue Procedure 2002–33. Free e-file for 2011 Example 1. Free e-file for 2011 You are an individual and you use the calendar year. Free e-file for 2011 You placed qualified property in service for your business in December 2001. Free e-file for 2011 You filed your 2001 income tax return before April 15, 2002. Free e-file for 2011 You did not claim the special depreciation allowance for the property and did not make the election not to claim the allowance. Free e-file for 2011 You can claim the special allowance by filing an amended 2001 return by April 15, 2003, with “Filed Pursuant to Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33” at the top of the amended return. Free e-file for 2011 You must file an amended return by April 15, 2003, even if you get an extension of time to file your 2002 tax return. Free e-file for 2011 Example 2. Free e-file for 2011 The facts concerning your 2001 return are the same as in Example 1. Free e-file for 2011 In addition, you got an automatic 4-month extension of time (to August 15, 2003) to file your 2002 return. Free e-file for 2011 You can claim the special allowance by filing a Form 3115 (with “Filed Pursuant to Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33” on the appropriate line) with your 2002 return by August 15, 2003. Free e-file for 2011 You must also file a copy of this Form 3115 with the IRS National Office no later than when you file your 2002 return. Free e-file for 2011 Electing not to claim the allowance. Free e-file for 2011   Generally, you have elected not to claim the special depreciation allowance for a class of property if you: Filed your return timely (including extensions) for the year you placed qualified property in service and indicated on a statement with the return that you are not claiming the allowance, or Filed your return timely and filed an amended return within 6 months of the due date of the original return (not including extensions) and indicated on a statement with the amended return that you are not claiming the allowance. Free e-file for 2011 The statement must indicate that you are not deducting the special depreciation allowance and the class of property to which the election applies. Free e-file for 2011 The statement can be either attached to or written on the return. Free e-file for 2011 You can, for example, write “not deducting 30%” on Form 4562. Free e-file for 2011 Deemed election. Free e-file for 2011   If you have not followed either of the procedures described above to elect not to claim the allowance, you may still be treated as making the election. Free e-file for 2011 You will be treated as making the election if you meet both of the following conditions. Free e-file for 2011 You filed your return for the year you placed the property in service and claimed depreciation, but not the special allowance, for any class of property. Free e-file for 2011 You do not file an amended return or a Form 3115 within the time prescribed for claiming the special allowance. Free e-file for 2011 See Claiming the allowance, earlier. Free e-file for 2011 Passenger Automobiles The limit on your depreciation deduction (including any section 179 deduction) for any passenger automobile that is qualified property (defined earlier) placed in service after September 10, 2001, and for which you claim the special depreciation allowance is increased. Free e-file for 2011 Generally, the limit is increased from $3,060 to $7,660. Free e-file for 2011 However, if the automobile is a qualified electric car, the limit is increased from $9,280 to $23,080 ($22,980 if placed in service in 2002). Free e-file for 2011 Table 1 shows the maximum deduction amounts for 2001. Free e-file for 2011 Table 1. Free e-file for 2011 Maximum Deduction for 2001 Qualified Vehicle Placed in Service Before Sept. Free e-file for 2011 11 Placed in Service After Sept. Free e-file for 2011 10 Passenger automobile $3,060 $7,660 Electric car 9,280 23,080 1 1$22,980 if you place an electric car in service in 2002. Free e-file for 2011 Election not to claim the allowance. Free e-file for 2011   The increased maximum depreciation deduction does not apply if you elected not to claim the special depreciation allowance as explained earlier under Election Not To Claim the Allowance and Rules for Returns Filed Before June 1, 2002. Free e-file for 2011 New York Liberty Zone Benefits Several benefits are available for property you place in service in the New York Liberty Zone (Liberty Zone). Free e-file for 2011 They include a special depreciation allowance for the year you place the property in service, an increased section 179 deduction, and the classification of certain leasehold improvement property as 5-year property. Free e-file for 2011 Area defined. Free e-file for 2011   The New York Liberty Zone is the area located on or south of Canal Street, East Broadway (east of its intersection with Canal Street), or Grand Street (east of its intersection with East Broadway) in the Borough of Manhattan in the City of New York, New York. Free e-file for 2011 Special Liberty Zone Depreciation Allowance You can take a special depreciation allowance for qualified Liberty Zone property you place in service after September 10, 2001. Free e-file for 2011 The allowance is an additional deduction of 30% of the property's depreciable basis. Free e-file for 2011 To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. Free e-file for 2011 See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. Free e-file for 2011 The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. Free e-file for 2011 There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. Free e-file for 2011 In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. Free e-file for 2011 You cannot claim the special Liberty Zone depreciation allowance for property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. Free e-file for 2011 Qualified property is eligible for only one special depreciation allowance. Free e-file for 2011 Example 1. Free e-file for 2011 On November 1, 2001, you bought and placed in service in your business, which is in the Liberty Zone, qualified Liberty Zone property that cost $200,000. Free e-file for 2011 You did not elect to claim a section 179 deduction. Free e-file for 2011 You can deduct 30% of the cost ($60,000) as a special Liberty Zone depreciation allowance for 2001. Free e-file for 2011 You use the remaining $140,000 of cost to figure your regular depreciation deduction for 2001 and later years. Free e-file for 2011 Example 2. Free e-file for 2011 The facts are the same as in Example 1, except that you choose to deduct $59,000 of the property's cost as a section 179 deduction. Free e-file for 2011 (See Increased Section 179 Deduction, later, for information concerning how this section 179 deduction amount is figured). Free e-file for 2011 You use the remaining $141,000 of cost to figure your special Liberty Zone depreciation allowance of $42,300 ($141,000 × 30%). Free e-file for 2011 You use the remaining $98,700 of cost to figure your regular depreciation deduction for 2001 and later years. Free e-file for 2011 Qualified Liberty Zone Property For a 2001 calendar or fiscal year and a 2000 fiscal year that ends after September 10, 2001, property qualifies for the special Liberty Zone depreciation allowance if it meets the following requirements. Free e-file for 2011 It is one of the following types of property. Free e-file for 2011 Used property depreciated under MACRS with a recovery period of 20 years or less. Free e-file for 2011 See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. Free e-file for 2011 Used water utility property. Free e-file for 2011 See 25-year property on page 22 in Publication 946. Free e-file for 2011 Used computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. Free e-file for 2011 (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Free e-file for 2011 ) Certain nonresidential real property and residential rental property (defined later). Free e-file for 2011 It meets the following tests (explained later under Tests to be met). Free e-file for 2011 Acquisition date test. Free e-file for 2011 Placed in service date test. Free e-file for 2011 Substantial use test. Free e-file for 2011 Original use test. Free e-file for 2011 It is not excepted property (explained later under Excepted property). Free e-file for 2011 Nonresidential real property and residential rental property. Free e-file for 2011   This property is qualifying property only to the extent it rehabilitates real property damaged, or replaces real property destroyed or condemned, as a result of the terrorist attack of September 11, 2001. Free e-file for 2011 Property is treated as replacing destroyed or condemned property if, as part of an integrated plan, such property replaces real property included in a continuous area that includes real property destroyed or condemned. Free e-file for 2011   For these purposes, real property is considered destroyed (or condemned) only if an entire building or structure was destroyed (or condemned) as a result of the terrorist attack. Free e-file for 2011 Otherwise, the property is considered damaged real property. Free e-file for 2011 For example, if certain structural components of a building (such as walls, floors, or plumbing fixtures) are damaged or destroyed as a result of the terrorist attack, but the building is not destroyed (or condemned), then only costs related to replacing the damaged or destroyed structural components qualify for the special Liberty Zone depreciation allowance. Free e-file for 2011 Tests to be met. Free e-file for 2011   To qualify for the special Liberty Zone depreciation allowance, your property must meet all of the following tests. Free e-file for 2011 Acquisition date test. Free e-file for 2011   You must have acquired the property by purchase after September 10, 2001, and there must not have been a binding written contract for the acquisition in effect before September 11, 2001. Free e-file for 2011   For information on the acquisition of property by purchase, see Property Acquired by Purchase on page 15 of Publication 946. Free e-file for 2011   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001. Free e-file for 2011 Placed in service date test. Free e-file for 2011   Generally, the property must be placed in service for use in your trade or business or for the production of income before January 1, 2007 (January 1, 2010, in the case of qualifying nonresidential real property and residential rental property). Free e-file for 2011   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. Free e-file for 2011 Substantial use test. Free e-file for 2011   Substantially all use of the property must be in the Liberty Zone and in the active conduct of your trade or business in the Liberty Zone. Free e-file for 2011 Original use test. Free e-file for 2011   The original use of the property in the Liberty Zone must have begun with you after September 10, 2001. Free e-file for 2011   Used property can be qualified Liberty Zone property if it has not previously been used within the Liberty Zone. Free e-file for 2011 Also, additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test if the original use of the property in the Liberty Zone began with you. Free e-file for 2011 Excepted property. Free e-file for 2011   The following property does not qualify for the special Liberty Zone depreciation allowance. Free e-file for 2011 Property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. Free e-file for 2011 Property required to be depreciated using ADS. Free e-file for 2011 This includes listed property used 50% or less in a qualified business use. Free e-file for 2011 Qualified New York Liberty Zone leasehold improvement property (defined earlier in Excepted Property under Special Depreciation Allowance). Free e-file for 2011 Example. Free e-file for 2011 In December 2001, you bought and placed in service in your business in the Liberty Zone the following property. Free e-file for 2011 New office furniture with a MACRS recovery period of 7 years. Free e-file for 2011 A used computer with a MACRS recovery period of 5 years. Free e-file for 2011 The computer had not previously been used within the Liberty Zone. Free e-file for 2011 Because the office furniture is new property, it qualifies for the special depreciation allowance, but not the special Liberty Zone depreciation allowance. Free e-file for 2011 Because the computer is used property that had not previously been used in the Liberty Zone, it qualifies for the special Liberty Zone depreciation allowance, but not the special depreciation allowance. Free e-file for 2011 Election Not To Claim the Liberty Zone Allowance You can elect not to claim the special Liberty Zone depreciation allowance for qualified property. Free e-file for 2011 If you make this election for any property, it applies to all property in the same property class placed in service during the year. Free e-file for 2011 To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. Free e-file for 2011 When to make the election. Free e-file for 2011   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Free e-file for 2011   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Free e-file for 2011 Attach the election statement to the amended return. Free e-file for 2011 At the top of the election statement, write “Filed pursuant to section 301. Free e-file for 2011 9100–2. Free e-file for 2011 ” Revoking an election. Free e-file for 2011   Once you elect not to deduct the special Liberty Zone depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Free e-file for 2011 A request to revoke the election is subject to a user fee. Free e-file for 2011 Returns filed before June 1, 2002. Free e-file for 2011   The rules that apply to the special depreciation allowance discussed earlier in Rules for Returns Filed Before June 1, 2002 under Special Depreciation Allowance also apply to the special Liberty Zone depreciation allowance. Free e-file for 2011 Increased Section 179 Deduction Under section 179 of the Internal Revenue Code, you can choose to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. Free e-file for 2011 For tax years beginning in 2000, that limit was $20,000. Free e-file for 2011 For tax years beginning in 2001 and 2002, that limit is generally $24,000. Free e-file for 2011 If the cost of qualifying section 179 property placed in service in a year is over $200,000, you must reduce the dollar limit (but not below zero) by the amount of the cost over $200,000. Free e-file for 2011 Increased Dollar Limit The dollar limit on the section 179 deduction is increased for certain property placed in service in the Liberty Zone. Free e-file for 2011 The increase is the smaller of the following amounts. Free e-file for 2011 $35,000. Free e-file for 2011 The cost of section 179 property that is qualified Liberty Zone property placed in service during the year. Free e-file for 2011 If you use the revised 2001 Form 4562 (dated March 2002) for a tax year beginning in 2000, you must reduce the section 179 dollar limit to $20,000 before adding the additional amount for qualified property. Free e-file for 2011 Qualified property. Free e-file for 2011   To qualify for the increased section 179 deduction, your property must be section 179 property that is either: Qualified Liberty Zone property, or Property that would be qualified Liberty Zone property except that it is eligible for the special depreciation allowance. Free e-file for 2011 Qualified Liberty Zone property is explained earlier in Qualified Liberty Zone Property under Special Liberty Zone Depreciation Allowance. Free e-file for 2011 Property eligible for the special depreciation allowance is explained earlier in Qualified Property under Special Depreciation Allowance. Free e-file for 2011 For information on the requirements that must be met for property to qualify for the section 179 deduction, see What Property Qualifies? on page 14 of Publication 946. Free e-file for 2011 Example 1. Free e-file for 2011 In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $25,000. Free e-file for 2011 Because this cost is less than $35,000, the dollar limit on the section 179 deduction is increased by $25,000 to $49,000 ($24,000 + $25,000). Free e-file for 2011 Example 2. Free e-file for 2011 In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $75,000. Free e-file for 2011 Because $35,000 is less than the cost of the property you place in service, the dollar limit on the section 179 deduction you can claim is increased by $35,000 to $59,000 ($24,000 + $35,000). Free e-file for 2011 Reduced Dollar Limit Generally, you must reduce the dollar limit for a year by the cost of qualifying section 179 property placed in service in the year that is more than $200,000. Free e-file for 2011 However, if the cost of your Liberty Zone property exceeds $200,000, you take into account only 50% (instead of 100%) of the cost of qualified property placed in service in a year. Free e-file for 2011 Example. Free e-file for 2011 In 2002, you place in service in your business, which is in the Liberty Zone, qualified property costing $460,000. Free e-file for 2011 Your increased dollar limit is $59,000 ($35,000 + $24,000). Free e-file for 2011 Because 50% of the cost of the property you place in service ($230,000) is $30,000 more than $200,000, you must reduce your $59,000 dollar limit to $29,000 ($59,000 - $30,000). Free e-file for 2011 Recapture Rules Rules similar to those explained on page 20 of Publication 946 under When Must You Recapture the Deduction? apply with respect to any qualified property you stop using in the Liberty Zone. Free e-file for 2011 Returns Filed Before June 1, 2002 If you filed a return before June 1, 2002, and did not deduct the increased section 179 amount for qualified property placed in service after September 10, 2001, you can deduct the increased amount by filing an amended return by the due date (not including extensions) of the return for the year after the year the property was placed in service. Free e-file for 2011 This rule applies to returns for the following years. Free e-file for 2011 2000 fiscal years that end after September 10, 2001. Free e-file for 2011 2001 calendar and fiscal years. Free e-file for 2011 On the amended return, write “Filed Pursuant to Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33. Free e-file for 2011 ” Liberty Zone Leasehold Improvement Property Qualified Liberty Zone leasehold improvement property (described earlier in Qualified Property under Special Depreciation Allowance) is 5-year property. Free e-file for 2011 This means that it is depreciated over a recovery period of 5 years. Free e-file for 2011 For information about recovery periods, see Which Recovery Period Applies? on page 23 of Publication 946. Free e-file for 2011 The straight-line method must be used with respect to qualified Liberty Zone leasehold improvement property. Free e-file for 2011 Under ADS, the recovery period for qualified Liberty Zone leasehold improvement property is 9 years. Free e-file for 2011 Returns Filed Before June 1, 2002 If you filed either of the following returns before June 1, 2002, and did not depreciate qualified Liberty Zone leasehold improvement property placed in service during the tax year as 5-year property using the straight line method, you should file an amended return before you file your return for the year after the year the property was placed in service. Free e-file for 2011 Your 2000 fiscal year return (for a 2000 fiscal year that ends after September 10, 2001). Free e-file for 2011 Your 2001 calendar or fiscal year return. Free e-file for 2011 On the amended return, write “Filed Pursuant to Rev. Free e-file for 2011 Proc. Free e-file for 2011 2002–33. Free e-file for 2011 ” Table 2. Free e-file for 2011 Rules for Returns Filed Before June 1, 2002 Note:This chart highlights the rules for returns affected by the Job Creation and Worker Assistance Act of 2002 that were filed before June 1, 2002, without accounting for any of the new benefits under the law. Free e-file for 2011 See the text for definitions and examples. Free e-file for 2011 Do not rely on this chart alone. Free e-file for 2011 IF you want to. Free e-file for 2011 . Free e-file for 2011 . Free e-file for 2011 THEN you. Free e-file for 2011 . Free e-file for 2011 . Free e-file for 2011 BY. Free e-file for 2011 . Free e-file for 2011 . Free e-file for 2011 claim the special depreciation allowance or special Liberty Zone depreciation allowance • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service, or • must file Form 3115, Application for Change in Accounting Method, with your return for the year after the year the property was placed in service • the due date (including extensions) of your return for the year after the year the property was placed in service, and • must file a copy of your completed Form 3115 with the IRS National Office • the date you file the original Form 3115 with your return for the year after the year the property was placed in service. Free e-file for 2011 elect not to claim the special depreciation allowance or the special Liberty Zone depreciation allowance 1 • must have filed your return timely for the year the property was placed in service, and   • must file an amended return stating you are not claiming the allowance • the date that is 6 months after the due date of the original return (not including extensions). Free e-file for 2011 deduct the increased section 179 amount • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service. Free e-file for 2011 use a 5-year recovery period for depreciating qualified Liberty Zone leasehold improvement property • should file an amended return • the date you file your return for the year after the year the property was placed in service. Free e-file for 2011 1See also Deemed election under Rules for Returns Filed Before June 1, 2002, earlier. 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The Free E-file For 2011

Free e-file for 2011 Publication 51 - Introductory Material Table of Contents Future Developments What's New Reminders Calendar Introduction Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 51 (Circular A), such as legislation enacted after it was published, go to www. Free e-file for 2011 irs. Free e-file for 2011 gov/pub51. Free e-file for 2011 What's New Social security and Medicare tax for 2014. Free e-file for 2011  The social security tax rate is 6. Free e-file for 2011 2% each for the employee and employer, unchanged from 2013. Free e-file for 2011 The social security wage base limit is $117,000. Free e-file for 2011 The Medicare tax rate is 1. Free e-file for 2011 45% each for the employee and employer, unchanged from 2013. Free e-file for 2011 There is no wage base limit for Medicare tax. Free e-file for 2011 Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. Free e-file for 2011 Withholding allowance. Free e-file for 2011  The 2014 amount for one withholding allowance on an annual basis is $3,950. Free e-file for 2011 Change of responsible party. Free e-file for 2011  Beginning January 1, 2014, any entity with an employer identification number (EIN) must file Form 8822-B, Change of Address or Responsible Party—Business, to report the latest change to its responsible party. Free e-file for 2011 Form 8822-B must be filed within 60 days of the change. Free e-file for 2011 If the change in the identity of your responsible party occurred before 2014, and you have not previously notified the IRS of the change, file Form 8822-B before March 1, 2014, reporting only the most recent change. Free e-file for 2011 For a definition of "responsible party", see the Form 8822-B instructions. Free e-file for 2011 Same-sex marriage. Free e-file for 2011  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. Free e-file for 2011 For more information, see Revenue Ruling 2013-17, 2013-38 I. Free e-file for 2011 R. Free e-file for 2011 B. Free e-file for 2011 201, available at www. Free e-file for 2011 irs. Free e-file for 2011 gov/irb/2013-38_IRB/ar07. Free e-file for 2011 html. Free e-file for 2011 Notice 2013-61 provides special administrative procedures for employers to make claims for refund or adjustments of overpayments of social security and Medicare taxes with respect to certain same-sex spouse benefits before expiration of the period of limitations. Free e-file for 2011 Notice 2013-61, 2013-44 I. Free e-file for 2011 R. Free e-file for 2011 B. Free e-file for 2011 432, is available at www. Free e-file for 2011 irs. Free e-file for 2011 gov/irb/2013-44_IRB/ar10. Free e-file for 2011 html. Free e-file for 2011 Reminders Additional Medicare Tax withholding. Free e-file for 2011  In addition to withholding Medicare tax at 1. Free e-file for 2011 45%, you must withhold a 0. Free e-file for 2011 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Free e-file for 2011 You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Free e-file for 2011 Additional Medicare Tax is only imposed on the employee. Free e-file for 2011 There is no employer share of Additional Medicare Tax. Free e-file for 2011 All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. Free e-file for 2011 For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. Free e-file for 2011 For more information on Additional Medicare Tax, visit IRS. Free e-file for 2011 gov and enter “Additional Medicare Tax” in the search box. Free e-file for 2011 Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans. Free e-file for 2011  The work opportunity tax credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2014. Free e-file for 2011 Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. Free e-file for 2011 For more information, visit IRS. Free e-file for 2011 gov and enter “work opportunity tax credit” in the search box. Free e-file for 2011 Outsourcing payroll duties. Free e-file for 2011  Employers are responsible to ensure that tax returns are filed and deposits and payments are made, even if the employer contracts with a third party to perform these acts. Free e-file for 2011 The employer remains responsible if the third party fails to perform any required action. Free e-file for 2011 If you choose to outsource any of your payroll and related tax duties (that is, withholding, reporting, and paying over social security, Medicare, FUTA, and income taxes) to a third-party payer such as a payroll service provider or reporting agent, visit IRS. Free e-file for 2011 gov and enter “outsourcing payroll duties” in the search box for helpful information on this topic. Free e-file for 2011 COBRA premium assistance credit. Free e-file for 2011  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. Free e-file for 2011 For more information, see COBRA premium assistance credit under Introduction. Free e-file for 2011 Compensation paid to H-2A foreign agricultural workers. Free e-file for 2011  Report compensation of $600 or more paid to foreign agricultural workers who entered the country on H-2A visas in box 1 of Form W-2, Wage and Tax Statement. Free e-file for 2011 Compensation paid to H-2A workers for agricultural labor performed in connection with this visa is not subject to social security and Medicare taxes, and therefore should not be reported as wages subject to social security tax (line 2), Medicare tax (line 4), or Additional Medicare Tax withholding (line 6) on Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, and should not be reported as social security wages (box 3) or Medicare wages (box 5) on Form W-2. Free e-file for 2011 On Form W-2, do not check box 13 (Statutory employee), as H-2A workers are not statutory employees. Free e-file for 2011 An employer is not required to withhold federal income tax from compensation it pays an H-2A worker for agricultural labor performed in connection with this visa unless the worker asks for withholding and the employer agrees. Free e-file for 2011 In that case, the worker must give the employer a completed Form W-4, Employee's Withholding Allowance Certificate. Free e-file for 2011 Federal income tax withheld should be reported on Form 943, line 8, and in box 2 of Form W-2. Free e-file for 2011 These reporting rules apply when the H-2A worker provides his or her taxpayer identification number (TIN) to the employer. Free e-file for 2011 For the rules relating to backup withholding and reporting when the H-2A worker does not provide a TIN, see the Instructions for Form 1099-MISC and the Instructions for Form 945. Free e-file for 2011 Additional employment tax information. Free e-file for 2011  Visit the IRS website at www. Free e-file for 2011 irs. Free e-file for 2011 gov/businesses and click on Employment Taxes under Businesses Topics. Free e-file for 2011 For employment tax information by telephone, call 1-800-829-4933 or 1-800-829-4059 (TDD/TTY for persons who are deaf, hard of hearing, or have a speech disability) Monday–Friday from 7:00 a. Free e-file for 2011 m. Free e-file for 2011 –7:00 p. Free e-file for 2011 m. Free e-file for 2011 local time (Alaska and Hawaii follow Pacific time). Free e-file for 2011 Additionally, you can call IRS TeleTax at 1-800-829-4477 for recorded information by topic. Free e-file for 2011 Disregarded entities and qualified subchapter S subsidiaries (QSubs). Free e-file for 2011  Eligible single-owner disregarded entities and QSubs are treated as separate entities for employment tax purposes. Free e-file for 2011 Eligible single-member entities that have not elected to be taxed as corporations must report and pay employment taxes on wages paid to their employees using the entities' own names and EINs. Free e-file for 2011 See Regulations sections 1. Free e-file for 2011 1361-4(a)(7) and 301. Free e-file for 2011 7701-2(c)(2)(iv). Free e-file for 2011 Differential wage payments. Free e-file for 2011  Qualified differential wage payments made by employers to individuals serving in the Armed Forces after 2008 are subject to income tax withholding but not social security, Medicare, or FUTA taxes. Free e-file for 2011 For more information, see Publication 15 (Circular E). Free e-file for 2011 Federal tax deposits must be made by electronic funds transfer. Free e-file for 2011  You must use electronic funds transfer to make all federal tax deposits. Free e-file for 2011 Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). Free e-file for 2011 If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Free e-file for 2011 Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Free e-file for 2011 EFTPS is a free service provided by the Department of Treasury. Free e-file for 2011 Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Free e-file for 2011 For more information on making federal tax deposits, see How To Deposit in section 7. Free e-file for 2011 To get more information about EFTPS or to enroll in EFTPS, visit www. Free e-file for 2011 eftps. Free e-file for 2011 gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Free e-file for 2011 Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. Free e-file for 2011 Electronic filing and payment. Free e-file for 2011  Now, more than ever before, businesses can enjoy the benefits of filing tax returns and paying their taxes electronically. Free e-file for 2011 Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make it easier. Free e-file for 2011 Spend less time and worry on taxes and more time running your business. Free e-file for 2011 Use e-file and the Electronic Federal Tax Payment System (EFTPS) to your benefit. Free e-file for 2011 For e-file, visit the IRS website at www. Free e-file for 2011 irs. Free e-file for 2011 gov/efile for additional information. Free e-file for 2011 For EFTPS, visit www. Free e-file for 2011 eftps. Free e-file for 2011 gov or call EFTPS Customer Service at 1-800-555-4477 (business), 1-800-316-6541 (individual), or 1-800-733-4829 (TDD) for additional information. Free e-file for 2011 For electronic filing of Form W-2, visit www. Free e-file for 2011 socialsecurity. Free e-file for 2011 gov/employer. Free e-file for 2011 If you are filing your tax return or paying your federal taxes electronically, a valid EIN is required. Free e-file for 2011 If a valid EIN is not provided, the return or payment will not be processed. Free e-file for 2011 This may result in penalties and delays in processing your return or payment. Free e-file for 2011 Electronic funds withdrawal (EFW). Free e-file for 2011  If you file Form 943 electronically, you can e-file and e-pay (electronic funds withdrawal) the balance due in a single step using tax preparation software or through a tax professional. Free e-file for 2011 However, do not use EFW to make federal tax deposits. Free e-file for 2011 For more information on paying your taxes using EFW, visit the IRS website at www. Free e-file for 2011 irs. Free e-file for 2011 gov/e-pay. Free e-file for 2011 A fee may be charged to file electronically. Free e-file for 2011 Credit or debit card payments. Free e-file for 2011   Employers can pay the balance due shown on Form 943 by credit or debit card. Free e-file for 2011 Do not use a credit or debit card to make federal tax deposits. Free e-file for 2011 For more information on paying your taxes with a credit or debit card, visit the IRS website at www. Free e-file for 2011 irs. Free e-file for 2011 gov/e-pay. Free e-file for 2011 When you hire a new employee. Free e-file for 2011  Ask each new employee to complete the 2014 Form W-4 or its Spanish version, Formulario W-4(SP), Certificado de Exención de Retenciones del Empleado. Free e-file for 2011 Also, ask the employee to show you his or her social security card so that you can record the employee's name and social security number accurately. Free e-file for 2011 If the employee has lost the card or recently changed names, have the employee apply for a duplicate or corrected card. Free e-file for 2011 If the employee does not have a card, have the employee apply for one on Form SS-5, Application for a Social Security Card. Free e-file for 2011 See section 1 for more information. Free e-file for 2011 Eligibility for employment. Free e-file for 2011  You must verify that each new employee is legally eligible to work in the United States. Free e-file for 2011 This includes completing the U. Free e-file for 2011 S. Free e-file for 2011 Citizenship and Immigration Services (USCIS) Form I-9, Employment Eligibility Verification. Free e-file for 2011 You can get the form from USCIS offices or by calling 1-800-870-3676. Free e-file for 2011 Contact the USCIS at 1-800-375-5283, or visit the USCIS website at www. Free e-file for 2011 uscis. Free e-file for 2011 gov for more information. Free e-file for 2011 New hire reporting. Free e-file for 2011   You are required to report any new employee to a designated state new-hire registry. Free e-file for 2011 A new employee is an employee who has not previously been employed by you or was previously employed by you but has been separated from such prior employment for at least 60 consecutive days. Free e-file for 2011 Many states accept a copy of Form W-4 with employer information added. Free e-file for 2011 Visit the Office of Child Support Enforcement's website at www. Free e-file for 2011 acf. Free e-file for 2011 hhs. Free e-file for 2011 gov/programs/cse/newhire for more information. Free e-file for 2011 Dishonored payments. Free e-file for 2011  Any form of payment that is dishonored and returned from a financial institution is subject to a penalty. Free e-file for 2011 The penalty is $25 or 2% of the payment, whichever is more. Free e-file for 2011 However, the penalty on dishonored payments of $24. Free e-file for 2011 99 or less is an amount equal to the payment. Free e-file for 2011 For example, a dishonored payment of $18 is charged a penalty of $18. Free e-file for 2011 Forms in Spanish. Free e-file for 2011  You can provide Formulario W-4(SP) in place of Form W-4 to your Spanish-speaking employees. Free e-file for 2011 For more information, see Publicación 17(SP), El Impuesto Federal sobre los Ingresos (Para Personas Físicas). Free e-file for 2011 For nonemployees, Formulario W-9(SP), Solicitud y Certificación del Número de Identificación del Contribuyente, may be used in place of Form W-9, Request for Taxpayer Identification Number and Certification. Free e-file for 2011 References in this publication to Form W-4 or Form W-9 also apply to their equivalent Spanish translations—Formulario W-4(SP) or Formulario W-9(SP). Free e-file for 2011 Information returns. Free e-file for 2011  You may be required to file information returns to report certain types of payments made during the year. Free e-file for 2011 For example, you must file Form 1099-MISC, Miscellaneous Income, to report payments of $600 or more to persons not treated as employees (for example, independent contractors) for services performed for your trade or business. Free e-file for 2011 For details about filing Forms 1099 and for information about required electronic filing, see the General Instructions for Certain Information Returns for general information and the separate, specific instructions for each information return that you file (for example, Instructions for Form 1099-MISC). Free e-file for 2011 Generally, do not use Forms 1099 to report wages or other compensation that you paid to employees; report these amounts on Form W-2. Free e-file for 2011 See the General Instructions for Forms W-2 and W-3 for details about filing Forms W-2 and for information about required electronic filing. Free e-file for 2011 If you file 250 or more Forms W-2, you must file them electronically. Free e-file for 2011 SSA will not accept Forms W-2 and W-3 filed on any magnetic media. Free e-file for 2011 Information reporting customer service site. Free e-file for 2011  The IRS operates the Enterprise Computing Center—Martinsburg, a centralized customer service site, to answer questions about reporting on Forms W-2, W-3, 1099, and other information returns. Free e-file for 2011 If you have questions related to reporting on information returns, you may call 1-866-455-7438 (toll free), 304-263-8700 (toll call), or 304-267-3367 (TDD/TTY for persons who are deaf, heard of hearing, or have a speech disability). Free e-file for 2011 The call site can also be reached by email at mccirp@irs. Free e-file for 2011 gov. Free e-file for 2011 Do not include tax identification numbers (TINs) or attachments in email correspondence because electronic mail is not secure. Free e-file for 2011 Web-based application for an employer identification number (EIN). Free e-file for 2011  You can apply for an employer identification number (EIN) online by visiting IRS. Free e-file for 2011 gov and clicking on the Apply for an EIN Online link under Tools. Free e-file for 2011 When a crew leader furnishes workers to you. Free e-file for 2011  Record the crew leader's name, address, and EIN. Free e-file for 2011 See sections 2 and 10. Free e-file for 2011 Change of address. Free e-file for 2011  Use Form 8822-B to notify the IRS of an address change. Free e-file for 2011 Do not mail form 8822-B with your employment tax return. Free e-file for 2011 Ordering forms and publications. Free e-file for 2011  You can order your 2013 and 2014 employment tax and information return forms, instructions, and publications online at www. Free e-file for 2011 irs. Free e-file for 2011 gov/businesses. Free e-file for 2011 Click on the Online Ordering for Information Returns and Employer Returns. Free e-file for 2011 You can also visit www. Free e-file for 2011 irs. Free e-file for 2011 gov/formspubs to download other forms and publications. Free e-file for 2011 Instead of ordering paper Forms W-2 and W-3, consider filing them electronically using the Social Security Administration's (SSA) free e-file service. Free e-file for 2011 Visit the SSA's Employer W-2 Filing Instructions & Information website at  www. Free e-file for 2011 socialsecurity. Free e-file for 2011 gov/employer, to register for Business Services Online. Free e-file for 2011 You will be able to create and file “fill-in” versions of Forms W-2 with SSA and can print out completed copies of Forms W-2 for filing with state and local governments, distribution to your employees, and for your records. Free e-file for 2011 Form W-3 will be created for you based on your Forms W-2. Free e-file for 2011 Tax Questions. Free e-file for 2011   If you have a tax question, check the information available on IRS. Free e-file for 2011 gov or call 1-800-829-4933 (businesses), 1-800-829-1040 (individuals), or 1-800-829-4059 (TDD/TTY for persons who are deaf, hard of hearing, or have a speech disability) Monday–Friday from 7:00 a. Free e-file for 2011 m. Free e-file for 2011 –7:00 p. Free e-file for 2011 m. Free e-file for 2011 local time (Alaska and Hawaii follow Pacific time). Free e-file for 2011 We cannot answer tax questions sent to the address provided later for comments and suggestions. Free e-file for 2011 Recordkeeping. Free e-file for 2011  Keep all records of employment taxes for at least 4 years. Free e-file for 2011 These should be available for IRS review. Free e-file for 2011 Your records should include the following information. Free e-file for 2011 Your employer identification number (EIN). Free e-file for 2011 Amounts and dates of all wage, annuity, and pension payments. Free e-file for 2011 Names, addresses, social security numbers, and occupations of employees and recipients. Free e-file for 2011 Any employee copies of Forms W-2 and W-2c returned to you as undeliverable. Free e-file for 2011 Dates of employment for each employee. Free e-file for 2011 Periods for which employees and recipients were paid while absent due to sickness or injury and the amount and weekly rate of payments you or third-party payers made to them. Free e-file for 2011 Copies of employees' and recipients' income tax withholding allowance certificates (Forms W-4, W-4(SP), W-4P, and W-4S). Free e-file for 2011 Dates and amounts of tax deposits you made and acknowledgment numbers for deposits made by EFTPS. Free e-file for 2011 Copies of returns filed and confirmation numbers. Free e-file for 2011 Records of fringe benefits and expense reimbursements provided to your employees, including substantiation. Free e-file for 2011 If a crew leader furnished you with farmworkers, you must keep a record of the name, permanent mailing address, and EIN of the crew leader. Free e-file for 2011 If the crew leader has no permanent mailing address, record his or her present address. Free e-file for 2011 Private delivery services. Free e-file for 2011  You can use certain private delivery services designated by the IRS to send tax returns and payments. Free e-file for 2011 The list includes only the following. Free e-file for 2011 DHL Express (DHL): DHL Same Day Service. Free e-file for 2011 Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority, and FedEx International First. Free e-file for 2011 United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A. Free e-file for 2011 M. Free e-file for 2011 , UPS Worldwide Express Plus, and UPS Worldwide Express. Free e-file for 2011 For the IRS mailing address to use if you are using a private delivery service, go to IRS. Free e-file for 2011 gov and enter "private delivery service" in the search box. Free e-file for 2011 Your private delivery service can tell you how to get written proof of the mailing date. Free e-file for 2011 Private delivery services cannot deliver items to P. Free e-file for 2011 O. Free e-file for 2011 boxes. Free e-file for 2011 You must use the U. Free e-file for 2011 S. Free e-file for 2011 Postal Service to mail any item to an IRS P. Free e-file for 2011 O. Free e-file for 2011 box address. Free e-file for 2011 Photographs of missing children. Free e-file for 2011  The IRS is a proud partner with the National Center for Missing and Exploited Children. Free e-file for 2011 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Free e-file for 2011 You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Free e-file for 2011 Calendar The following are important dates and responsibilities. Free e-file for 2011 See section 7 for information about depositing taxes reported on Forms 941, 943, 944, and 945. Free e-file for 2011 Also see Publication 509, Tax Calendars. Free e-file for 2011   If any date shown below for filing a return, furnishing a form, or depositing taxes falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. Free e-file for 2011 A statewide legal holiday delays a filing due date only if the IRS office where you are required to file is located in that state. Free e-file for 2011 However, a statewide legal holiday does not delay the due date of federal tax deposits. Free e-file for 2011 See Deposits on Business Days Only in section 7. Free e-file for 2011 For any filing due date, you will meet the “file” or “furnish” requirement if the envelope containing the return or form is properly addressed, contains sufficient postage, and is postmarked by the U. Free e-file for 2011 S. Free e-file for 2011 Postal Service on or before the due date, or sent by an IRS-designated delivery service on or before the due date. Free e-file for 2011 See Private delivery services under Reminders. Free e-file for 2011 By January 31 . Free e-file for 2011   File Form 943. Free e-file for 2011 See section 8 for more information on Form 943. Free e-file for 2011 If you deposited all Form 943 taxes when due, you have 10 additional calendar days to file. Free e-file for 2011 Furnish each employee with a completed Form W-2. Free e-file for 2011 Furnish each recipient to whom you paid $600 or more in nonemployee compensation with a completed Form 1099 (for example, Form 1099-MISC). Free e-file for 2011 File Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. Free e-file for 2011 See section 10 for more information on FUTA. Free e-file for 2011 If you deposited all the FUTA tax when due, you have 10 additional calendar days to file. Free e-file for 2011 File Form 945, Annual Return of Withheld Federal Income Tax, to report any nonpayroll federal income tax withheld in 2013. Free e-file for 2011 If you deposited all Form 945 taxes when due, you have 10 additional calendar days to file. Free e-file for 2011 By February 15. Free e-file for 2011  Ask for a new Form W-4 or Formulario W-4(SP) from each employee who claimed exemption from federal income tax withholding last year. Free e-file for 2011 On February 16. Free e-file for 2011  Any Form W-4 claiming exemption from withholding for the previous year has now expired. Free e-file for 2011 Begin withholding for any employee who previously claimed exemption from withholding but has not given you a new Form W-4 for the current year. Free e-file for 2011 If the employee does not give you a new Form W-4, withhold tax based on the last valid Form W-4 you have for the employee that does not claim exemption from withholding or, if one does not exist, as if he or she is single with zero withholding allowances. Free e-file for 2011 See section 5 for more information. Free e-file for 2011 If the employee furnishes a new Form W-4 claiming exemption from withholding after February 15, you may apply the exemption to future wages, but do not refund taxes withheld while the exempt status was not in place. Free e-file for 2011 By February 28. Free e-file for 2011   File paper Forms 1099 and 1096. Free e-file for 2011 File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U. Free e-file for 2011 S. Free e-file for 2011 Information Returns, with the IRS. Free e-file for 2011 For electronically filed returns, see By March 31 below. Free e-file for 2011 File paper Forms W-2 and W-3. Free e-file for 2011 File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the SSA. Free e-file for 2011 For electronically filed returns, see By March 31 next. Free e-file for 2011 By March 31. Free e-file for 2011   File electronic Forms W-2 and 1099. Free e-file for 2011 File electronic Forms W-2 with the SSA and Forms 1099 with the IRS. Free e-file for 2011 For more information on reporting Form W-2 information to the SSA electronically, visit the SSA's Employer W-2 Filing Instructions & Information webpage at www. Free e-file for 2011 socialsecurity. Free e-file for 2011 gov/employer. Free e-file for 2011 For information on filing information returns electronically with the IRS, see Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G. Free e-file for 2011 By April 30, July 31, October 31, and January 31. Free e-file for 2011   Deposit FUTA taxes. Free e-file for 2011 Deposit FUTA tax if the undeposited amount is over $500. Free e-file for 2011 Before December 1. Free e-file for 2011  Remind employees to submit a new Form W-4 if their marital status or withholding allowances have changed or will change for the next year. Free e-file for 2011 Introduction This publication is for employers of agricultural workers (farmworkers). Free e-file for 2011 It contains information that you may need to comply with the laws for agricultural labor (farmwork) relating to social security and Medicare taxes, FUTA tax, and withheld federal income tax (employment taxes). Free e-file for 2011 Agricultural employers report social security and Medicare taxes and withheld federal income tax on Form 943 and report FUTA tax on Form 940. Free e-file for 2011 If you have nonfarm employees, see Publication 15 (Circular E). Free e-file for 2011 If you have employees in the U. Free e-file for 2011 S. Free e-file for 2011 Virgin Islands, Guam, American Samoa, or the Commonwealth of the Northern Mariana Islands, see Publication 80 (Circular SS). Free e-file for 2011 Publication 15-A, Employer's Supplemental Tax Guide, contains more employment-related information, including information about sick pay and pension income. Free e-file for 2011 Publication 15-B, Employer's Tax Guide to Fringe Benefits, contains information about the employment tax treatment and valuation of various types of noncash compensation. Free e-file for 2011 Comments and suggestions. Free e-file for 2011   We welcome your comments about this publication and your suggestions for future editions. Free e-file for 2011   You can write to us at the following address:  Internal Revenue Service Tax Forms and Publications Division  1111 Constitution Ave. Free e-file for 2011 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Free e-file for 2011 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Free e-file for 2011   You can also send us comments from www. Free e-file for 2011 irs. Free e-file for 2011 gov/formspubs. Free e-file for 2011 Click on More Information and then click on Comment on Tax Forms and Publications. Free e-file for 2011   Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications. Free e-file for 2011 COBRA premium assistance credit. Free e-file for 2011   The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provides certain former employees, retirees, spouses, former spouses, and dependent children the right to temporary continuation of health coverage at group rates. Free e-file for 2011 COBRA generally covers multiemployer health plans and health plans maintained by private-sector employers (other than churches) with 20 or more full and part-time employees. Free e-file for 2011 Parallel requirements apply to these plans under the Employee Retirement Income Security Act of 1974 (ERISA). Free e-file for 2011 Under the Public Health Service Act, COBRA requirements apply also to health plans covering state or local government employees. Free e-file for 2011 Similar requirements apply under the Federal Employees Health Benefits Program and under some state laws. Free e-file for 2011 For the premium assistance (or subsidy) discussed below, these requirements are all referred to as COBRA requirements. Free e-file for 2011   Under the American Recovery and Reinvestment Act of 2009 (ARRA), employers are allowed a credit against “payroll taxes” (referred to in this publication as “employment taxes”) for providing COBRA premium assistance to assistance eligible individuals. Free e-file for 2011 For periods of COBRA continuation coverage beginning after February 16, 2009, a group health plan must treat an assistance eligible individual as having paid the required COBRA continuation coverage premium if the individual elects COBRA coverage and pays 35% of the amount of the premium. Free e-file for 2011   An assistance eligible individual is a qualified beneficiary of an employer's group health plan who is eligible for COBRA continuation coverage during the period beginning September 1, 2008, and ending May 31, 2010, due to the involuntarily termination from employment of a covered employee during the period and elects continuation COBRA coverage. Free e-file for 2011 The assistance for the coverage can last up to 15 months. Free e-file for 2011   Employees terminated during the period beginning September 1, 2008, and ending May 31, 2010, who received a severance package that delayed the start of the COBRA continuation coverage, may still be eligible for premium assistance for COBRA continuation coverage. Free e-file for 2011 For more information, see Notice 2009-27, 2009-16 I. Free e-file for 2011 R. Free e-file for 2011 B. Free e-file for 2011 838, available at www. Free e-file for 2011 irs. Free e-file for 2011 gov/irb/2009-16_irb/ar09. Free e-file for 2011 html. Free e-file for 2011   Administrators of the group health plans (or other entities) that provide or administer COBRA continuation coverage must provide notice to assistance eligible individuals of the COBRA premium assistance. Free e-file for 2011   The 65% of the premium not paid by the assistance eligible individual is reimbursed to the employer maintaining the group health plan. Free e-file for 2011 The reimbursement is made through a credit against the employer's employment tax liabilities. Free e-file for 2011 For information on how to claim the credit, see the Instructions for Form 943. Free e-file for 2011 The credit is treated as a deposit made on the first day of the return period. Free e-file for 2011 In the case of a multiemployer plan, the credit is claimed by the plan, rather than the employer. Free e-file for 2011 In the case of an insured plan subject to state law continuation coverage requirements, the credit is claimed by the insurance company, rather than the employer. Free e-file for 2011   Anyone claiming the credit for COBRA premium assistance payments must maintain the following information to support their claim, including the following. Free e-file for 2011 Information on the receipt of the assistance eligible individuals' 35% share of the premium including dates and amounts. Free e-file for 2011 In the case of an insurance plan, a copy of invoice or other supporting statement from the insurance carrier and proof of timely payment of the full premium to the insurance carrier required under COBRA. Free e-file for 2011 In the case of a self-insured plan, proof of the premium amount and proof of the coverage provided to the assistance eligible individuals. Free e-file for 2011 Attestation of involuntary termination, including the date of the involuntary termination for each covered employee whose involuntary termination is the basis for eligibility for the subsidy. Free e-file for 2011 Proof of each assistance eligible individual's eligibility for COBRA coverage and the election of COBRA coverage. Free e-file for 2011 A record of the social security numbers (SSNs) of all covered employees, the amount of the subsidy reimbursed with respect to each covered employee, and whether the subsidy was for one individual or two or more individuals. Free e-file for 2011   For more information, visit IRS. Free e-file for 2011 gov and enter “COBRA” in the search box. Free e-file for 2011 Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 225 Farmer's Tax Guide 535 Business Expenses 583 Starting a Business and Keeping Records 1635 Employer Identification Number: Understanding Your EIN Prev  Up  Next   Home   More Online Publications