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Free Tax Filing 2011

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Free Tax Filing 2011

Free tax filing 2011 2. Free tax filing 2011   Filing Requirements and Required Disclosures Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Annual Information ReturnsSupporting Organization Annual Information Return Unrelated Business Income Tax ReturnEstimated tax. Free tax filing 2011 Employment Tax ReturnsException. Free tax filing 2011 FUTA tax exception. Free tax filing 2011 FICA tax exemption election. Free tax filing 2011 Revoking the election. Free tax filing 2011 Definitions. Free tax filing 2011 Effect on employees. Free tax filing 2011 Political Organization Income Tax ReturnExempt function. Free tax filing 2011 Political organization taxable income. Free tax filing 2011 Separate fund. Free tax filing 2011 Failure to file. Free tax filing 2011 Failure to pay on time. Free tax filing 2011 Reporting Requirements for a Political OrganizationForm 8871 Form 8872 Donee Information ReturnCharitable deduction property. Free tax filing 2011 Publicly traded securities. Free tax filing 2011 Exceptions. Free tax filing 2011 Form 8283. Free tax filing 2011 Information Provided to DonorsDisclosure of Quid Pro Quo Contributions Acknowledgment of Charitable Contributions of $250 or More Acknowledgment of Vehicle Contribution Qualified Intellectual Property Report of Cash Received Public Inspection of Exemption Applications, Annual Returns, and Political Organization Reporting FormsAnnual Information Return Public Inspection of Exemption Application Political Organization Reporting Forms Required DisclosuresSolicitation of Nondeductible Contributions Sales of Information or Services Available Free From Government Dues Used for Lobbying or Political Activities Prohibited Tax Shelter Transactions Miscellaneous RulesOrganizational Changes and Exempt Status Introduction Most exempt organizations (including private foundations) must file various returns and reports at some time during (or following the close of) their accounting period. Free tax filing 2011 Topics - This chapter discusses: Annual information returns Unrelated business income tax return Employment tax returns Political organization income tax return Reporting requirements for a political organization Donee information return Information provided to donors Report of cash received Public inspection of exemption applications, annual returns, and political organizations reporting forms Required disclosures Miscellaneous rules 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 598 Tax on Unrelated Business Income of Exempt Organizations Form (and Instructions) 941 Employer's Quarterly Federal Tax Return 990 Return of Organization Exempt From Income Tax 990-EZ Short Form Return of Organization Exempt From Income Tax Schedule A (Form 990 or 990-EZ) Public Charity Status and Public Support Schedule B (Form 990, 990-EZ, or 990-PF) Schedule of Contributors Schedule C (Form 990 or 990-EZ) Political Campaign and Lobbying Activities Schedule D (Form 990) Supplemental Financial Statements Schedule E (Form 990 or 990-EZ) Schools Schedule F (Form 990) Statement of Activities Outside the United States Schedule G (Form 990 or 990-EZ) Supplemental Information Regarding Fundraising or Gaming Activities Schedule H (Form 990) Hospitals Schedule I (Form 990) Grants and Other Assistance to Organizations, Governments, and Individuals in the United States Schedule J (Form 990) Compensation Information Schedule K (Form 990) Supplemental Information on Tax-Exempt Bonds Schedule L (Form 990 or 990-EZ) Transactions With Interested Persons Schedule M (Form 990) Noncash Contributions Schedule N (Form 990 or 990-EZ) Liquidation, Termination, Dissolution, or Significant Disposition of Assets Schedule O (Form 990 or 990-EZ) Supplemental Information to Form 990 Schedule R (Form 990) Related Organizations and Unrelated Partnerships 990-PF Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation 990-BL Information and Initial Excise Tax Return for Black Lung Benefit Trusts and Certain Related Persons 990-T Exempt Organization Business Income Tax Return 990-W Estimated Tax on Unrelated Business Taxable Income for Tax-Exempt Organizations 1120-POL U. Free tax filing 2011 S. Free tax filing 2011 Income Tax Return for Certain Political Organizations 4720 Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code 5768 Election/Revocation of Election by an Eligible Section 501(c)(3) Organization To Make Expenditures To Influence Legislation 6069 Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust Under Section 4953 and Computation of Section 192 Deduction 7004 Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns 8274 Certification by Churches and Qualified Church-Controlled Organizations Electing Exemption from Employer Social Security and Medicare Taxes 8282 Donee Information Return 8300 Report of Cash Payments Over $10,000 Received in a Trade or Business 8453-X Political Organization Declaration for Electronic Filing of Notice of Section 527 Status 8822-B Change of Address-Business 8868 Application for Extension of Time to File an Exempt Organization Return 8870 Information Return for Transfers Associated with Certain Personal Benefits Contracts 8871 Political Organization Notice of Section 527 Status 8872 Political Organization Report of Contributions and Expenditures 8886-T Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction 8899 Notice of Income from Donated Intellectual Property 8940 Request for Miscellaneous Determination See chapter 6 for information about getting these publications and forms. Free tax filing 2011 Annual Information Returns Every organization exempt from federal income tax under section 501(a) must file an Annual Exempt Organization Return except: A church, an interchurch organization of local units of a church, a convention or association of churches, An integrated auxiliary of a church, A church-affiliated organization that is exclusively engaged in managing funds or maintaining retirement programs, A school below college level affiliated with a church or operated by a religious order, Church-affiliated mission societies if more than half of their activities are conducted in, or are directed at persons in, foreign countries, An exclusively religious activity of any religious order, A state institution, the income of which is excluded from gross income under section 115, A corporation described in section 501(c)(1) that is organized under an Act of Congress, an instrumentality of the United States, and is exempt from Federal income taxes, A stock bonus, pension, or profit-sharing trust that qualifies under section 401 (required to file Form 5500, Annual Return/Report of Employee Benefit Plan), A religious or apostolic organization described in section 501(d) (required to file Form 1065, U. Free tax filing 2011 S. Free tax filing 2011 Return of Partnership Income), A governmental unit or an affiliate of a governmental unit that meets the requirements of Revenue Procedure 95-48, 1995-2 C. Free tax filing 2011 B. Free tax filing 2011 418, www. Free tax filing 2011 irs. Free tax filing 2011 gov/pub/irs-tege/rp1995-48. Free tax filing 2011 pdf, A private foundation described in section 501(c)(3) and exempt under section 501(a) (required to file Form 990-PF, Return of Private Foundation), A political organization that is a state or local committee of a political party, a political committee of a state or local candidate, a caucus or association of state or local officials, or required to report under the Federal Election Campaign Act of 1971 as a political committee, An exempt organization (other than a private foundation) that normally has annual gross receipts of $50,000 or less, or A foreign organization, or an organization located in a U. Free tax filing 2011 S. Free tax filing 2011 possession, that normally has annual gross receipts from sources within the United States of $50,000 or less. Free tax filing 2011 Supporting Organization Annual Information Return For tax years ending after August 17, 2006, all section 509(a)(3) supporting organizations are required to file Form 990 or 990-EZ with the IRS regardless of the organization's gross receipts, unless it qualifies as one of the following: An integrated auxiliary of a church; The exclusively religious activities of a religious order; or An organization, the gross receipts of which are normally not more than $5,000, that supports a section 509(a)(3) religious order. Free tax filing 2011 If the organization is described in item (3) above, then it must submit Form 990-N (e-Postcard) unless it voluntarily files Form 990 or 990-EZ. Free tax filing 2011 On its annual information return, at Part I, Schedule A (Form 990 or 990-EZ) a supporting organization must: List the section 509(a)(3) organizations to which it provides support, Indicate whether it is a Type I, Type II, or Type III supporting organization, and Certify that the organization is not controlled directly or indirectly by disqualified persons (other than by foundation managers and other than one or more publicly supported organizations). Free tax filing 2011 Annual Electronic Filing Requirement for Small Tax-Exempt Organizations Small tax-exempt organizations with annual gross receipts normally $50,000 or less must submit Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ, with the IRS each year, if they choose not to file a Form 990 or 990-EZ. Free tax filing 2011 Form 990-N requires the following information: The organization's legal name, and mailing address; Any name under which it operates and does business; Its Internet website address (if any); Its taxpayer identification number; The name and address of a principal officer; Organization's annual tax period; Verification that the organization's annual gross receipts are normally $50,000 or less; and Notification if the organization has terminated. Free tax filing 2011 Form 990-N is due by the 15th day of the fifth month after the close of the tax year. Free tax filing 2011 For tax years beginning after December 31, 2006, any organization that fails to meet its annual reporting requirement for 3 consecutive years will automatically lose its tax-exempt status. Free tax filing 2011 To regain its exempt status an organization will have to reapply for recognition as a tax-exempt organization. Free tax filing 2011 Exceptions. Free tax filing 2011   This filing requirement does not apply to: Churches, their integrated auxiliaries, and conventions or associations of churches; Organizations that are included in a group return; Private foundations required to file Form 990-PF; and Section 509(a)(3) supporting organizations required to file Form 990 or Form 990-EZ. Free tax filing 2011 Forms 990 and 990-EZ Exempt organizations, other than private foundations, must file their annual information returns on Form 990 or 990-EZ, unless excepted from filing or allowed to submit Form 990-N, described earlier. Free tax filing 2011 Generally, political organizations with gross receipts of $25,000 ($100,000 for a qualified state or local political organization (QSLPO)) or more for the tax year are required to file Form 990 or 990-EZ unless specifically excepted from filing the annual return. Free tax filing 2011 The following political organizations are not required to file Form 990 or Form 990-EZ. Free tax filing 2011 A state or local committee of a political party. Free tax filing 2011 A political committee of a state or local candidate. Free tax filing 2011 A caucus or association of state or local officials. Free tax filing 2011 A political organization that is required to report as a political committee under the Federal Election Campaign Act. Free tax filing 2011 A 501(c) organization that has expenditures for influencing or attempting to influence the selection, nomination, election, or appointment of any individual for a federal, state, or local public office. Free tax filing 2011 Form 990-EZ. Free tax filing 2011   This is a shortened version of Form 990. Free tax filing 2011 It is designed for use by small exempt organizations and nonexempt charitable trusts. Free tax filing 2011   Beginning in tax year 2010, an organization can file either Form 990 or 990-EZ if it meets the following: Its gross receipts during the year are less than $200,000. Free tax filing 2011 Its total assets (line 25, column (B) of Form 990-EZ) at the end of the year are less than $500,000. Free tax filing 2011 If your organization does not meet either of these conditions, you cannot file Form 990-EZ. Free tax filing 2011 Instead you must file Form 990. Free tax filing 2011 Group return. Free tax filing 2011   A group return on Form 990 may be filed by a central, parent, or like organization for two or more local organizations, none of which is a private foundation. Free tax filing 2011 This return is in addition to the central organization's separate annual return if it must file a return. Free tax filing 2011 It cannot be included in the group return. Free tax filing 2011 See the instructions for Form 990 for the conditions under which this procedure may be used. Free tax filing 2011    In any year that an organization is properly included as a subordinate organization on a group return, it should not file its own Form 990. Free tax filing 2011 Schedule A (Form 990 or 990-EZ). Free tax filing 2011   Organizations, other than private foundations, that are described in section 501(c)(3) and that are otherwise required to file Form 990 or 990-EZ must also complete Schedule A of that form. Free tax filing 2011 Schedule B (Form 990, Form 990-EZ, or 990-PF). Free tax filing 2011   Organizations that file Form 990 or 990-EZ use this schedule to provide required information regarding their contributors. Free tax filing 2011 Schedule O (Form 990). Free tax filing 2011   Organizations that file Form 990 must use this schedule to provide required additional information or if additional space is needed. Free tax filing 2011   Other schedules may be required to be filed with Form 990 or 990-EZ. Free tax filing 2011 See the instructions for Form 990 or the instructions for Form 990-EZ for more information. Free tax filing 2011 Report significant new or changed program services and changes to organizational documents. Free tax filing 2011    An organization should report new significant program services or significant changes in how it conducts program services, and significant changes to its organizational documents, on its Form 990 rather than in a letter to EO Determinations. Free tax filing 2011 EO Determinations no longer issues letters confirming the tax-exempt status of organizations that report new services or significant changes, or changes to organizational documents. Free tax filing 2011 See Miscellaneous Rules, Organization Changes and Exempt Status, later. Free tax filing 2011 Form 990-PF All private foundations exempt under section 501(c)(3) must file Form 990-PF. Free tax filing 2011 These organizations are discussed in chapter 3. Free tax filing 2011 Electronic Filing You may be required to file Form 990, Form 990-EZ, or Form 990-PF, and related forms, schedules, and attachments electronically. Free tax filing 2011 If an organization is required to file a return electronically but does not, the organization is considered to have not filed its return. Free tax filing 2011 See Regulations section 301. Free tax filing 2011 6033-4 for more information. Free tax filing 2011 The IRS may waive the requirement to file electronically in cases of undue hardship. Free tax filing 2011 For information on filing a waiver, see Notice 2010-13, 2010-4 I. Free tax filing 2011 R. Free tax filing 2011 B. Free tax filing 2011 327, available at www. Free tax filing 2011 irs. Free tax filing 2011 gov/ir/2010-04_IRSB/ar14. Free tax filing 2011 html. Free tax filing 2011 Form 990. Free tax filing 2011   An organization is required to file Form 990 electronically if it files at least 250 returns during the calendar year and has total assets of $10 million or more at the end of the tax year. Free tax filing 2011 Form 990-PF. Free tax filing 2011   An organization is required to file Form 990-PF electronically if it files at least 250 returns during the calendar year. Free tax filing 2011 Due Date Forms 990, 990-EZ, or 990-PF must be filed by the 15th day of the fifth month after the end of your organization's accounting period. Free tax filing 2011 Thus, for a calendar year taxpayer, Forms 990, 990-EZ, or 990-PF is due May 15 of the following year. Free tax filing 2011 Extension of time to file. Free tax filing 2011   Use Form 8868 to request an automatic 3-month extension of time to file Forms 990, 990-EZ, or 990-PF and also to apply for an additional (not automatic) 3-month extension if needed. Free tax filing 2011   Do not apply for both the automatic 3-month extension and the additional 3-month extension at the same time. Free tax filing 2011 For more information, see Form 8868 and its instructions. Free tax filing 2011   When filing Form 8868 for an automatic 3-month extension, neither a signature, nor an explanation is required. Free tax filing 2011 However, when filing Form 8868 for an additional 3-month extension, both a signature and an explanation are required. Free tax filing 2011 Application for exemption pending. Free tax filing 2011   An organization that claims to be exempt under section 501(a) but has not established its exempt status by the due date for filing an information return must complete and file Form 990, 990-EZ, 990–N or 990-PF (if it considers itself a private foundation), unless the organization is exempt from Form 990-series filing requirements. Free tax filing 2011 If the organization's application is pending with the IRS, it must so indicate on Forms 990, 990-EZ, or 990-PF (whichever applies) by checking the application pending block at the top of page 1 of the return. Free tax filing 2011 For more information on the filing requirements, see the Instructions for Forms 990, 990-EZ, and 990-PF. Free tax filing 2011 State reporting requirements. Free tax filing 2011   Copies of Forms 990, 990-EZ, or 990-PF may be used to satisfy state reporting requirements. Free tax filing 2011 See the instructions for those forms. Free tax filing 2011 Form 8870. Free tax filing 2011   Organizations that filed a Form 990, 990-EZ, or 990-PF, and paid premiums or received transfers on certain life insurance, annuity, and endowment contracts (personal benefit contracts), must file Form 8870. Free tax filing 2011 For more information, see Form 8870 and the instructions for that form. Free tax filing 2011 Automatic Revocation If the organization fails to file a Form 990, 990-EZ, or 990-PF, or fails to submit a Form 990-N, as required, for 3 consecutive years, it will automatically lose its tax-exempt status by operation of law. Free tax filing 2011 The list of organizations whose tax-exempt status has been automatically revoked is available on IRS. Free tax filing 2011 gov. Free tax filing 2011 This list (Auto-Revocation List) may be viewed and searched on Exempt Organizations Select Check. Free tax filing 2011 The Auto-Revocation List includes each organization's name, Employer Identification Number (EIN) and last known address. Free tax filing 2011 It also includes the effective date of the automatic revocation and the date it was posted to the list. Free tax filing 2011 The IRS updates the list monthly to include additional organizations that lose their tax-exempt status. Free tax filing 2011 Tax Effect of Loss of Tax-Exempt Status If your organization’s tax-exempt status is automatically revoked, you may be required to file one of the following federal income tax returns and pay any applicable income taxes: Form 1120, U. Free tax filing 2011 S. Free tax filing 2011 Corporation Income Tax Return, due by the 15th day of the 3rd month after the end of your organization’s tax year, or Form 1041, U. Free tax filing 2011 S. Free tax filing 2011 Income Tax Return for Estates and Trusts, due by the 15th day of the 4th month after the end of your organization’s tax year. Free tax filing 2011 In addition, a section 501(c)(3) organization that loses its tax-exempt status cannot receive tax-deductible contributions and will not be identified in the IRS Business Master File extract as eligible to received tax-deductible contributions, or be included in Exempt Organizations Select Check (Pub 78 database). Free tax filing 2011 An organization whose exemption was automatically revoked must apply for tax exemption in order to regain its tax exemption (even if it was not originally required to apply). Free tax filing 2011 In some situations, an organization may be able to obtain exemption retroactive to its date of revocation. Free tax filing 2011 For more information about automatic revocation, go to IRS. Free tax filing 2011 gov and select Charities & Non-Profits and then select Revoked? Reinstated? Learn More. Free tax filing 2011 Penalties Penalties for failure to file. Free tax filing 2011   Generally, an exempt organization that fails to file a required return must pay a penalty of $20 a day for each day the failure continues. Free tax filing 2011 The same penalty will apply if the organization does not give all the information required on the return or does not give the correct information. Free tax filing 2011 Maximum penalty. Free tax filing 2011   The maximum penalty for any one return is the smaller of $10,000 or 5% of the organization's gross receipts for the year. Free tax filing 2011 Organization with gross receipts over $1 million. Free tax filing 2011   For an organization that has gross receipts of over $1 million for the year, the penalty is $100 a day up to a maximum of $50,000. Free tax filing 2011 Managers. Free tax filing 2011   If the organization is subject to this penalty, the IRS may specify a date by which the return or correct information must be supplied by the organization. Free tax filing 2011 Failure to comply with this demand will result in a penalty imposed upon the manager of the organization, or upon any other person responsible for filing a correct return. Free tax filing 2011 The penalty is $10 a day for each day that a return is not filed after the period given for filing. Free tax filing 2011 The maximum penalty imposed on all persons with respect to any one return is $5,000. Free tax filing 2011 Exception for reasonable cause. Free tax filing 2011   No penalty will be imposed if reasonable cause for failure to file timely can be shown. Free tax filing 2011 Unrelated Business Income Tax Return Even though your organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. Free tax filing 2011 Unrelated business income is income from a trade or business, regularly carried on, that is not substantially related to the charitable, educational, or other purpose that is the basis for the organization's exemption. Free tax filing 2011 If your organization has $1,000 or more of unrelated business income, you must file Form 990-T in addition to your required annual information return. Free tax filing 2011 Estimated tax. Free tax filing 2011   Quarterly estimated tax payments are due if your organization expects to owe $500 or more in tax including unrelated business income. Free tax filing 2011 Use Form 990-W to figure your organization's estimated tax payments. Free tax filing 2011 Travel tour programs. Free tax filing 2011   Travel tour activities that are a trade or business are an unrelated trade or business if the activities are not substantially related to the purpose to which tax exemption was granted to the organization. Free tax filing 2011   Whether travel tour activities conducted by an organization are substantially related to the organization's tax exempt purpose is determined by looking at all the relevant facts and circumstances, including, but not limited to, how a travel tour is developed, promoted, and operated. Free tax filing 2011 Example. Free tax filing 2011 ABC, a university alumni association, is tax exempt as an educational organization under section 501(c)(3). Free tax filing 2011 As part of its activities, ABC operates a travel tour program. Free tax filing 2011 The program is open to all current members of ABC and their guests. Free tax filing 2011 ABC works with travel agents to schedule approximately ten tours annually to various destinations around the world. Free tax filing 2011 Members of ABC pay $1,000 to XYZ Travel Agency to participate in a tour. Free tax filing 2011 XYZ pays ABC a per person fee for each participant. Free tax filing 2011 Although the literature advertising the tours encourages ABC members to continue their lifelong learning by joining the tours, and a faculty member of ABC's related university frequently joins the tour as a guest of the alumni association, none of the tours include any scheduled instruction or curriculum related to the destinations being visited. Free tax filing 2011 The travel tours made available to ABC's members do not contribute importantly to the accomplishment of ABC's educational purpose. Free tax filing 2011 Rather, ABC's program is designed to generate revenues for ABC by regularly offering its members travel services. Free tax filing 2011 Therefore, ABC's tour program is an unrelated trade or business. Free tax filing 2011 For additional information on unrelated business income, see Publication 598 and the Instructions for Form 990-T. Free tax filing 2011 Employment Tax Returns Every employer, including an organization exempt from federal income tax, who pays wages to employees is responsible for withholding, depositing, paying, and reporting federal income tax, social security and Medicare (FICA) taxes, and federal unemployment tax (FUTA), unless that employer is specifically excepted by law from those requirements, or if the taxes clearly do not apply. Free tax filing 2011 For more information, obtain a copy of Publication 15, which summarizes the responsibilities of an employer, Publication 15-A, Publication 15-B, and Form 941. Free tax filing 2011 Small Business Health Care Tax Credit. Free tax filing 2011   If your small tax-exempt organization provides health care coverage for your workers you may qualify for the small business health care tax credit. Free tax filing 2011 Go to IRS. Free tax filing 2011 gov and select Affordable Care Act Tax Provisions for more details. Free tax filing 2011 See Small Business Health Care Tax Credit at www. Free tax filing 2011 irs. Free tax filing 2011 gov/newsroom/article/0,,id=223666,00. Free tax filing 2011 html. Free tax filing 2011 Expanded Work Opportunity Tax Credit Available for Hiring Qualified Veterans. Free tax filing 2011   The VOW to Hire Heroes Act of 2011 made changes to the Work Opportunity Tax Credit (WOTC). Free tax filing 2011 The Act added two new categories to the existing qualified veteran targeted group and made the WOTC available to certain tax-exempt employers as a credit against the employer's share of social security tax. Free tax filing 2011 The Act allows employers to claim the WOTC for veterans certified as qualified veterans and who begin work before January 1, 2013. Free tax filing 2011 This tax credit was extended through December 31, 2013, under the American Taxpayer Relief Act, passed on January 1, 2013. Free tax filing 2011   The credit can be as high as $6,240 for qualified tax-exempt organizations. Free tax filing 2011 The amount of the credit depends on a number of factors, including the length of the veteran’s unemployment before hire, the number of hours the veteran works, and the veteran’s first-year wages. Free tax filing 2011 The amount of the credit for qualified tax-exempt organizations may not exceed the organization's employer social security tax for the period for which the credit is claimed. Free tax filing 2011   All employers must obtain certification that an individual is a member of the targeted group, before the employer may claim the credit. Free tax filing 2011 The process for certifying veterans for this credit is the same for all employers. Free tax filing 2011 For more information, see Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit and the instructions to Form 8850. Free tax filing 2011 Notice 2012-13, 2012-9 I. Free tax filing 2011 R. Free tax filing 2011 B. Free tax filing 2011 421, also provides additional guidance on submission Form 8850. Free tax filing 2011   Organizations described in section 501(c) and exempt from taxation under section 501(a) may claim the credit for qualified veterans who begin work on or after Nov. Free tax filing 2011 22, 2011, and before January 1, 2013. Free tax filing 2011 After the required certification is secured, tax-exempt employers claim the credit against the employer social security tax by separately filing Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans, Form 5884-C. Free tax filing 2011 File Form 5884-C after filing the related employment tax return for the employment tax period for which the credit is claimed. Free tax filing 2011 It is recommended that qualified tax-exempt employers do not reduce their required deposits in anticipation of any credit as the forms are processed separately. Free tax filing 2011 In addition to Form 5884-C and its instructions, tax-exempt employers should see Notice 2012-13 and the Frequently Asked Questions & Answers for more details for claiming the credit. Free tax filing 2011 Trust fund recovery penalty. Free tax filing 2011   If any person required to collect, truthfully account for, and pay over any of these taxes willfully fails to satisfy any of these requirements or willfully tries in any way to evade or defeat any of them, that person will be subject to a penalty. Free tax filing 2011 The penalty is equal to the tax evaded, not collected, or not accounted for and paid over. Free tax filing 2011 The term person includes: An officer or employee of a corporation, or A member or employee of a partnership. Free tax filing 2011 Exception. Free tax filing 2011   The penalty is not imposed on any unpaid volunteer director or member of a board of trustees of an exempt organization if the unpaid volunteer serves solely in an honorary capacity, does not participate in the day-to-day or financial operations of the organization, and does not have actual knowledge of the failure on which the penalty is imposed. Free tax filing 2011   This exception does not apply if it results in no one being liable for the penalty. Free tax filing 2011 FICA and FUTA tax exceptions. Free tax filing 2011   Payments for services performed by a minister of a church in the exercise of the ministry, or a member of a religious order performing duties required by the order, are generally not subject to FICA or FUTA taxes. Free tax filing 2011 FUTA tax exception. Free tax filing 2011   Payments for services performed by an employee of a religious, charitable, educational, or other organization described in section 501(c)(3) that are generally subject to FICA taxes if the payments are $100 or more for the year, are not subject to FUTA taxes. Free tax filing 2011 FICA tax exemption election. Free tax filing 2011   Churches and qualified church-controlled organizations can elect exemption from employer FICA taxes by filing Form 8274. Free tax filing 2011   To elect the exemption, Form 8274 must be filed before the first date on which a quarterly employment tax return would otherwise be due from the electing organization. Free tax filing 2011 The organization can make the election only if it is opposed for religious reasons to the payment of FICA taxes. Free tax filing 2011   The election applies to payments for services of current and future employees other than services performed in an unrelated trade or business. Free tax filing 2011 Revoking the election. Free tax filing 2011   The election can be revoked by the IRS if the organization fails to file Form W-2, Wage and Tax Statement, for 2 years and fails to furnish certain information upon request by the IRS. Free tax filing 2011 Such revocation will apply retroactively to the beginning of the 2-year period. Free tax filing 2011 Definitions. Free tax filing 2011   For purposes of this election, the term church means a church, a convention or association of churches, or an elementary or secondary school that is controlled, operated, or principally supported by a church or by a convention or association of churches. Free tax filing 2011   The term qualified church-controlled organization means any church-controlled section 501(c)(3) tax-exempt organization, other than an organization that both: Offers goods, services, or facilities for sale, other than on an incidental basis, to the general public at other than a nominal charge that is substantially less than the cost of providing such goods, services, or facilities, and Normally receives more than 25% of its support from the sum of governmental sources and receipts from admissions, sales of merchandise, performance of services, or furnishing of facilities, in activities that are not unrelated trades or businesses. Free tax filing 2011 Effect on employees. Free tax filing 2011   If a church or qualified church-controlled organization has made an election, payment for services performed for that church or organization, other than in an unrelated trade or business, will not be subject to FICA taxes. Free tax filing 2011 However, the employee, unless otherwise exempt, will be subject to self-employment tax on the income. Free tax filing 2011 The tax applies to income of $108. Free tax filing 2011 28 or more for the tax year from that church or organization, and no deductions for trade or business expenses are allowed against this self-employment income. Free tax filing 2011   Schedule SE (Form 1040), Self-Employment Tax, should be attached to the employee's income tax return. Free tax filing 2011 Political Organization Income Tax Return Generally, a political organization is treated as an organization exempt from tax. Free tax filing 2011 Certain political organizations, however, must file an annual income tax return, Form 1120-POL, U. Free tax filing 2011 S. Free tax filing 2011 Income Tax Return for Certain Political Organizations, for any year they have political organization taxable income in excess of the $100 specific deduction allowed under section 527. Free tax filing 2011 A political organization that has $25,000 ($100,000 for a qualified state or local political organization) or more in gross receipts for the tax year must file Form 990 or Form 990-EZ (and Schedule B of the form), unless excepted. Free tax filing 2011 See Forms 990 and 990-EZ , earlier. Free tax filing 2011 Political organization. Free tax filing 2011   A political organization is a party, committee, association, fund, or other organization (whether or not incorporated) organized and operated primarily for the purpose of directly or indirectly accepting contributions or making expenditures, or both, for an exempt function. Free tax filing 2011 Exempt function. Free tax filing 2011   An exempt function means influencing or attempting to influence the selection, nomination, election, or appointment of any individual to any federal, state, local public office or office in a political organization, or the election of the Presidential or Vice Presidential electors, whether or not such individual or electors are selected, nominated, elected, or appointed. Free tax filing 2011 It also includes certain office expenses of a holder of public office or an office in a political organization. Free tax filing 2011 Certain political organizations are required to notify the IRS that they are section 527 organizations. Free tax filing 2011 These organizations must use Form 8871. Free tax filing 2011 Some of these section 527 organizations must use Form 8872 to file periodic reports with the IRS disclosing their contributions and expenditures. Free tax filing 2011 For a discussion on these forms, see Reporting Requirements for a Political Organization, later. Free tax filing 2011 Political organization taxable income. Free tax filing 2011   Political organization taxable income is the excess of: Gross income for the tax year (excluding exempt function income) minus Deductions directly connected with the earning of gross income. Free tax filing 2011 To figure taxable income, allow for a $100 specific deduction, but do not allow for the net operating loss deduction, the dividends-received deduction, and other special deductions for corporations. Free tax filing 2011 Exempt organization not a political organization. Free tax filing 2011   An organization exempt under section 501(c) that spends any amount for an exempt function must file Form 1120-POL for any year which it has political taxable income. Free tax filing 2011 These organizations must include in gross income the lesser of: The total amount of its exempt function expenditures, or The organization's net investment income. Free tax filing 2011 Separate fund. Free tax filing 2011   A section 501(c) organization can set up a separate segregated fund that will be treated as an independent political organization. Free tax filing 2011 The earnings and expenditures made by the separate fund will not be attributed to the section 501(c) organization. Free tax filing 2011 Section 501(c)(3) organizations are precluded from, and may suffer loss of exemption for, engaging in any political campaign on behalf of, or in opposition to, any candidate for public office. Free tax filing 2011 Due date. Free tax filing 2011   Form 1120-POL is due by the 15th day of the 3rd month after the end of the tax year. Free tax filing 2011 Thus, for a calendar year taxpayer, Form 1120-POL is due on March 15 of the following year. Free tax filing 2011 If any due date falls on a Saturday, Sunday, or legal holiday, the organization can file the return on the next business day. Free tax filing 2011    Form 1120-POL is not required of an exempt organization that makes expenditures for political purposes if its gross income does not exceed its directly connected deductions by more than $100 for the tax year. Free tax filing 2011 Extension of time to file. Free tax filing 2011    Use Form 7004 to request an automatic 6-month extension of time to file Form 1120-POL. Free tax filing 2011 The extension will be granted if you complete Form 7004 properly, make a proper estimate of the tax (if applicable), file Form 1120-POL by the due date, and pay any tax due. Free tax filing 2011 Failure to file. Free tax filing 2011   A political organization that fails to file Form 1120-POL is subject to a penalty equal to 5% of the tax due for each month (or partial month) the return is late up to a maximum of 25% of the tax due, unless the organization shows the failure was due to reasonable cause. Free tax filing 2011 For more information about filing Form 1120-POL, refer to the instructions accompanying the form. Free tax filing 2011 Failure to pay on time. Free tax filing 2011   An organization that does not pay the tax when due generally may have to pay a penalty of 1/2 of 1% of the unpaid tax for each month or part of a month the tax is not paid, up to a maximum of 25% of the unpaid tax. Free tax filing 2011 The penalty will not be imposed if the organization can show that the failure to pay on time was due to reasonable cause. Free tax filing 2011 Reporting Requirements for a Political Organization Certain political organizations are required to notify the IRS that the organization is to be treated as a section 527 political organization. Free tax filing 2011 The organization is also required to periodically report certain contributions received and expenditures made by the organization. Free tax filing 2011 To notify the IRS of section 527 treatment, an organization must file Form 8871. Free tax filing 2011 To report contributions and expenditures, certain tax-exempt political organizations must file Form 8872. Free tax filing 2011 Form 8871 A political organization must electronically file Form 8871 to notify the IRS that it is to be treated as a section 527 organization. Free tax filing 2011 However, an organization is not required to file Form 8871 if: It reasonably expects its annual gross receipts to always be less than $25,000. Free tax filing 2011 It is a political committee required to report under the Federal Election Campaign Act of 1971 (FECA) (2 U. Free tax filing 2011 S. Free tax filing 2011 C. Free tax filing 2011 431(4)). Free tax filing 2011 It is a state or local candidate committee. Free tax filing 2011 It is a state or local committee of a political party. Free tax filing 2011 It is a section 501(c) organization that has made an “exempt function expenditure. Free tax filing 2011 ” All other political organizations are required to file Form 8871. Free tax filing 2011 An organization must provide on Form 8871: Its name and address (including any business address, if different) and its electronic mailing address; Its purpose; The names and addresses of its officers, highly compensated employees, contact person, custodian of records, and members of its board of directors; The name and address of, and relationship to, any related entities (within the meaning of section 168(h)(4)); and Whether it intends to claim an exemption from filing Form 8872, Form 990, or Form 990-EZ. Free tax filing 2011 Employer identification number. Free tax filing 2011   If your organization needs an EIN, you can apply for one: Online—Click on the Employer ID Numbers (EINs) link at www. Free tax filing 2011 IRS. Free tax filing 2011 gov/businesses/small. Free tax filing 2011 By telephone at 1-800-829-4933 from 7:00 a. Free tax filing 2011 m. Free tax filing 2011 to 10:00 p. Free tax filing 2011 m. Free tax filing 2011 in the organization's local time zone. Free tax filing 2011 By mailing or faxing Form SS-4. Free tax filing 2011   If you previously applied for an EIN and have not yet received it, or you are unsure whether you have an EIN, please call our toll-free customer account services number, 1-877-829-5500, for assistance. Free tax filing 2011 Due dates. Free tax filing 2011   The initial Form 8871 must be filed within 24 hours of the date on which the organization was established. Free tax filing 2011 If there is a material change, an amended Form 8871 must be filed within 30 days of the material change. Free tax filing 2011 When the organization terminates its existence, it must file a final Form 8871 within 30 days of termination. Free tax filing 2011   If the due date falls on a Saturday, Sunday, or legal holiday, the organization can file on the next business day. Free tax filing 2011 How to file. Free tax filing 2011   An organization must file Form 8871 electronically via the IRS Internet website at www. Free tax filing 2011 IRS. Free tax filing 2011 gov/polorgs (Keyword: political orgs). Free tax filing 2011 Form 8453-X, Political Organization Declaration for Electronic Filing of Notice of Section 527 Status. Free tax filing 2011   After electronically submitting Form 8871, the political organization must print, sign, and mail Form 8453-X to the IRS. Free tax filing 2011 Upon receipt of the Form 8453-X, the IRS will send the organization a username and password that must be used to file an amended or final Form 8871 or to electronically file Form 8872. Free tax filing 2011 Penalties Failure to file. Free tax filing 2011   An organization that is required to file Form 8871, but fails to do so on a timely basis, will not be treated as a tax-exempt section 527 organization for any period before the date Form 8871 is filed. Free tax filing 2011 Also, the taxable income of the organization for that period will include its exempt function income (including contributions received, membership dues, and political fundraising receipts) minus any deductions directly connected with the production of that income. Free tax filing 2011   Failure to file an amended Form 8871 will cause the organization not to be treated as a tax-exempt section 527 organization. Free tax filing 2011 If an organization is treated as not being a tax-exempt section 527 organization, the taxable income of the organization will be determined by considering any exempt function income and deductions during the period beginning on the date of the material change and ending on the date that the amended Form 8871 is filed. Free tax filing 2011    The tax is computed by multiplying the organization's taxable income by the highest corporate tax rate. Free tax filing 2011 Fraudulent returns. Free tax filing 2011   Any individual or corporation that willfully delivers or discloses to the IRS any list, return, account, statement or other document known to be fraudulent or false as to any material matter will be fined not more than $10,000 ($50,000 in the case of a corporation) or imprisoned for not more than 1 year or both. Free tax filing 2011 Waiver of penalties. Free tax filing 2011   The IRS may waive any additional tax assessed on an organization for failure to file Form 8871 if the failure was due to reasonable cause and not willful neglect. Free tax filing 2011 Additional information. Free tax filing 2011   For more information on Form 8871, see the form and its instructions. Free tax filing 2011 For a discussion on the public inspection requirements for the form, see Public Inspection of Exemption Applications, Annual Returns, and Political Organization Reporting Forms , later. Free tax filing 2011 Form 8872 Every tax-exempt section 527 political organization that accepts a contribution or makes an expenditure, for an exempt function during the calendar year, must file Form 8872 except: A political organization that is not required to file Form 8871 (discussed earlier). Free tax filing 2011 A political organization that is subject to tax on its income because it did not file or amend Form 8871. Free tax filing 2011 A qualified state or local political organization (QSLPO), discussed below. Free tax filing 2011 All other tax-exempt section 527 organizations that accept contributions or make expenditures for an exempt function are required to file Form 8872. Free tax filing 2011 Qualified state or local political organization. Free tax filing 2011   A state or local political organization may be a QSLPO if: All of its political activities relate solely to state or local public office (or office in a state or local political organization). Free tax filing 2011 It is subject to a state law that requires it to report (and it does report) to a state agency information about contributions and expenditures that is similar to the information that the organization would otherwise be required to report to the IRS. Free tax filing 2011 The state agency and the organization make the reports publicly available. Free tax filing 2011 No federal candidate or office holder: Controls or materially participates in the direction of the organization, Solicits contributions for the organization, or Directs the disbursements of the organization. Free tax filing 2011 Information required on Form 8872. Free tax filing 2011   If an organization pays an individual $500 or more for the calendar year, the organization is required to disclose the individual's name, address, occupation, employer, amount of the expense, the date the expense was paid, and the purpose of the expense on Form 8872. Free tax filing 2011   If an organization receives contributions of $200 or more from one contributor for the calendar year, the organization must disclose the donor's name, address, occupation, employer, and the date the contributions were made. Free tax filing 2011   For additional information that is required, see Form 8872. Free tax filing 2011 Due dates. Free tax filing 2011   The due dates for filing Form 8872 vary depending on whether the form is due for a reporting period that occurs during a calendar year in which a regularly scheduled election is held, or any other calendar year (a nonelection year). Free tax filing 2011   If the due date falls on a Saturday, Sunday, or legal holiday, the organization can file on the next business day. Free tax filing 2011 Election year filing. Free tax filing 2011    In election years, Form 8872 must be filed on either a quarterly or a monthly basis. Free tax filing 2011 Both a pre-election report and a post-election report are also required to be filed in an election year. Free tax filing 2011 An election year is any year in which a regularly scheduled general election for federal office is held (an even-numbered year). Free tax filing 2011 Nonelection year filing. Free tax filing 2011    In nonelection years, the form must be filed on a semiannual or monthly basis. Free tax filing 2011 A complete listing of these filing periods are in the Form 8872 Instructions. Free tax filing 2011 A nonelection year is any odd-numbered year. Free tax filing 2011 How to file. Free tax filing 2011   Form 8872 can be filed either electronically or by mail. Free tax filing 2011 However, organizations that have, or expect to have, contributions or expenditures of $50,000 or more for the year must file electronically. Free tax filing 2011    To file by mail, send Form 8872 to the:   Department of the Treasury Internal Revenue Service Center Ogden, UT 84201-0027 Electronic filing. Free tax filing 2011   File electronically via the IRS internet website at www. Free tax filing 2011 IRS. Free tax filing 2011 gov/polorgs. Free tax filing 2011 You will need a user ID and password to electronically file Form 8872. Free tax filing 2011 Organizations that have completed the electronic filing of Form 8871 and submitted a completed and signed Form 8453-X will receive a username and password in the mail. Free tax filing 2011   Organizations that have completed the electronic filing of Form 8871, but have not received their user ID and password can request one by writing to the following address: Internal Revenue Service Attn: Request for 8872 Password Mail Stop 6273 Ogden, UT 84201 Lost username and password. Free tax filing 2011   If you have forgotten or misplaced the username and password issued to your organization after you filed your initial Form 8871, send a letter requesting a new username and password to the address under Electronic filing. Free tax filing 2011 You can also fax your request to (801) 620-3249. Free tax filing 2011 It may take 3-6 weeks for your new username and password to arrive, as they will be mailed to the organization. Free tax filing 2011 Penalty A penalty will be imposed if the organization is required to file Form 8872 and it: Fails to file the form by the due date, or Files the form but fails to report all of the information required or reports incorrect information. Free tax filing 2011 The penalty is 35% of the total amount of contributions and expenditures to which a failure relates. Free tax filing 2011 Fraudulent returns. Free tax filing 2011   Any individual or corporation that willfully delivers or discloses any list, return, account, statement, or other document known to be fraudulent or false as to any material matter will be fined not more than $10,000 ($50,000 in the case of a corporation), or imprisoned for not more than 1 year, or both. Free tax filing 2011 Waiver of penalties. Free tax filing 2011   The IRS may waive any additional tax assessed on an organization for failure to file Form 8872 if the failure was due to reasonable cause and not willful neglect. Free tax filing 2011 Donee Information Return Dispositions of donated property. Free tax filing 2011   If an organization receives charitable deduction property and within three years sells, exchanges, or otherwise disposes of the property, the organization must file Form 8282, Donee Information Return. Free tax filing 2011 However, an organization is not required to file Form 8282 if: The property is valued at $500 or less, or The property is consumed or distributed for charitable purposes. Free tax filing 2011   Form 8282 must be filed with the IRS within 125 days after the disposition. Free tax filing 2011 Additionally, a copy of Form 8282 must be given to the donor. Free tax filing 2011 If the organization fails to file the required information return, penalties may apply. Free tax filing 2011 Charitable deduction property. Free tax filing 2011   This is any property (other than money or publicly traded securities) for which the donee organization signed an appraisal summary or Form 8283, Noncash Charitable Contributions. Free tax filing 2011 Publicly traded securities. Free tax filing 2011   These are securities for which market quotations are readily available on an established securities market as of the date of the contribution. Free tax filing 2011 Appraisal summary. Free tax filing 2011   If the value of the donated property exceeds $5,000, the donor must get a qualified appraisal for contributions of property, see the Exceptions. Free tax filing 2011 below. Free tax filing 2011 Exceptions. Free tax filing 2011   A written appraisal is not needed if the property is: Nonpublicly traded stock of $10,000 or less, A vehicle (including a car, boat, or airplane), if your deduction for the vehicle is limited to the gross proceeds from its sale, Intellectual property, Certain securities considered to have market quotations readily available (see Regulations section 1. Free tax filing 2011 170A-13(c)(7)(xi)(B)), Inventory and other property donated by a corporation that are qualified contributions for the care of the ill, the needy, or infants, within the meaning of section 170(e)(3)(A), or Any donation of stock in trade, inventory, or property held primarily for sale to customers in the ordinary course of your trade or business. Free tax filing 2011   The donee organization is not a qualified appraiser for the purpose of valuing the donated property. Free tax filing 2011 For more information, get Publication 561, Determining the Value of Donated Property. Free tax filing 2011 Form 8283. Free tax filing 2011   For noncash donations over $5,000, the donor must attach Form 8283 to the tax return to support the charitable deduction. Free tax filing 2011 The donee must sign Part IV of Section B, Form 8283 unless publicly traded securities are donated. Free tax filing 2011 The person who signs for the donee must be an official authorized to sign the donee's tax or information returns, or a person specifically authorized to sign by that official. Free tax filing 2011 The signature does not represent concurrence in the appraised value of the contributed property. Free tax filing 2011 A signed acknowledgment represents receipt of the property described on Form 8283 on the date specified on the form. Free tax filing 2011 The signature also indicates knowledge of the information reporting requirements on dispositions, as previously discussed. Free tax filing 2011 A copy of Form 8283 must be given to the donee. Free tax filing 2011 Information Provided to Donors In some situations, a donor must obtain certain information from a donee organization to obtain a deduction for a charitable contribution. Free tax filing 2011 In other situations, the donee organization is required to provide information to the donor. Free tax filing 2011 A charitable organization must give a donor a disclosure statement for a quid pro quo contribution over $75. Free tax filing 2011 (See Disclosure statement. Free tax filing 2011 later. Free tax filing 2011 ) This is a payment a donor makes to a charity partly as a contribution and partly for goods or services. Free tax filing 2011 See Quid pro quo contribution below for an example. Free tax filing 2011 Failure to make the required disclosure may result in a penalty to the organization. Free tax filing 2011 A donor cannot deduct a charitable contribution of $250 or more unless the donor has a written acknowledgment from the charitable organization. Free tax filing 2011 In certain circumstances, an organization may be able to meet both of these requirements with the same written document. Free tax filing 2011 Disclosure of Quid Pro Quo Contributions A charitable organization must provide a written disclosure statement to donors of a quid pro quo contribution over $75. Free tax filing 2011 Quid pro quo contribution. Free tax filing 2011   A contribution made by a donor in exchange for goods or services is known as a quid pro quo contribution. Free tax filing 2011 Your charitable organization must provide the donor a written statement informing the donor of the fair market value of the items or services it provided in exchange for the contribution. Free tax filing 2011 Generally, a written statement is required for each payment, whenever the contribution portion is over $75. Free tax filing 2011 Example. Free tax filing 2011 If a donor gives your charity $100 and receives a concert ticket valued at $40, the donor has made a quid pro quo contribution. Free tax filing 2011 In this example, the charitable part of the payment is $60. Free tax filing 2011 Even though the deductible part of the payment is not more than $75, a written statement must be filed because the total payment is more than $75. Free tax filing 2011 If your organization fails to disclose quid pro quo contributions, the organization may be subject to a penalty. Free tax filing 2011 Disclosure statement. Free tax filing 2011   The required written disclosure statement must: Inform the donor that the amount of the contribution that is deductible for federal income tax purposes is limited to the excess of any money (and the value of any property other than money) contributed by the donor over the fair market value of goods or services provided by the charity, and Provide the donor with a good faith estimate of the fair market value of the goods or services that the donor received. Free tax filing 2011 The charity must furnish the statement in connection with either the solicitation or the receipt of the quid pro quo contribution. Free tax filing 2011 If the disclosure statement is furnished in connection with a particular solicitation, it is not necessary for the organization to provide another statement when it actually receives the contribution. Free tax filing 2011   No disclosure statement is required if any of the following are true. Free tax filing 2011 The goods or services given to a donor have insubstantial value as described in Revenue Procedure 90-12, 1990-1 C. Free tax filing 2011 B. Free tax filing 2011 471, Revenue Procedure 90-12, and Revenue Procedure 92-49, 1992-1 C. Free tax filing 2011 B. Free tax filing 2011 507 (as adjusted for inflation), Revenue Procedure 92-49. Free tax filing 2011 There is no donative element involved in a particular transaction with a charity (for example, there is generally no donative element involved in a visitor's purchase from a museum gift shop). Free tax filing 2011 There is only an intangible religious benefit provided to the donor. Free tax filing 2011 The intangible religious benefit must be provided to the donor by an organization organized exclusively for religious purposes, and must be of a type that generally is not sold in a commercial transaction outside the donative context. Free tax filing 2011 For example, a donor who, for a payment, is granted admission to a religious ceremony for which there is no admission charge is provided an intangible religious benefit. Free tax filing 2011 A donor is not provided intangible religious benefits for payments made for tuition for education leading to a recognized degree, travel services, or consumer goods. Free tax filing 2011 The donor makes a payment of $75 or less per year and receives only annual membership benefits that consist of: Any rights or privileges (other than the right to purchase tickets for college athletic events) that the taxpayer can exercise often during the membership period, such as free or discounted admissions or parking or preferred access to goods or services, or Admission to events that are open only to members and the cost per person of which is within the limits for low-cost articles described in Revenue Procedure 90-12 (as adjusted for inflation), Revenue Procedure 90-12. Free tax filing 2011 Good faith estimate of fair market value (FMV). Free tax filing 2011   An organization can use any reasonable method to estimate the FMV of goods or services it provided to a donor, as long as it applies the method in good faith. Free tax filing 2011   The organization can estimate the FMV of goods or services that generally are not commercially available by using the FMV of similar or comparable goods or services. Free tax filing 2011 Goods or services may be similar or comparable even if they do not have the unique qualities of the goods or services being valued. Free tax filing 2011 Example 1. Free tax filing 2011 A charity provides a 1-hour tennis lesson with a tennis professional for the first $500 payment it receives. Free tax filing 2011 The tennis professional provides 1-hour lessons on a commercial basis for $100. Free tax filing 2011 A good faith estimate of the lesson's FMV is $100. Free tax filing 2011 Example 2. Free tax filing 2011 For a payment of $50,000, a museum allows a donor to hold a private event in a room of the museum. Free tax filing 2011 A good faith estimate of the FMV of the right to hold the event in the museum can be made by using the cost of renting a hotel ballroom with a capacity, amenities, and atmosphere comparable to the museum room, even though the hotel ballroom lacks the unique art displayed in the museum room. Free tax filing 2011 If the hotel ballroom rents for $2,500, a good faith estimate of the FMV of the right to hold the event in the museum is $2,500. Free tax filing 2011 Example 3. Free tax filing 2011 For a payment of $1,000, a charity provides an evening tour of a museum conducted by a well-known artist. Free tax filing 2011 The artist does not provide tours on a commercial basis. Free tax filing 2011 Tours of the museum normally are free to the public. Free tax filing 2011 A good faith estimate of the FMV of the evening museum tour is $0 even though it is conducted by the artist. Free tax filing 2011 Penalty for failure to disclose. Free tax filing 2011   A penalty is imposed on a charity that does not make the required disclosure of a quid pro quo contribution of more than $75. Free tax filing 2011 The penalty is $10 per contribution, not to exceed $5,000 per fundraising event or mailing. Free tax filing 2011 The charity can avoid the penalty if it can show that the failure was due to reasonable cause. Free tax filing 2011 Acknowledgment of Charitable Contributions of $250 or More A donor can deduct a charitable contribution of $250 or more only if the donor has a written acknowledgment from the charitable organization. Free tax filing 2011 The donor must get the acknowledgment by the earlier of: The date the donor files the original return for the year the contribution is made, or The due date, including extensions, for filing the return. Free tax filing 2011 The donor is responsible for requesting and obtaining the written acknowledgment from the donee. Free tax filing 2011 A charitable organization that receives a payment made as a contribution is treated as the donee organization for this purpose even if the organization (according to the donor's instructions or otherwise) distributes the amount received to one or more charities. Free tax filing 2011 Quid pro quo contribution. Free tax filing 2011   If the donee provides goods or services to the donor in exchange for the contribution (a quid pro quo contribution), the acknowledgment must include a good faith estimate of the value of the goods or services. Free tax filing 2011 See Disclosure of Quid Pro Quo Contributions earlier. Free tax filing 2011 Form of acknowledgment. Free tax filing 2011   Although there is no prescribed format for the written acknowledgment, it must provide enough information to substantiate the amount of the contribution. Free tax filing 2011 For more information, see IRS Publication 1771, Charitable Contributions – Substantiation and Disclosure Requirements. Free tax filing 2011 Cash contributions. Free tax filing 2011   To deduct a contribution of cash, a check, or other monetary gift (regardless of the amount), a donor must maintain a bank record or a written communication from the donee organization showing the donee's name, date, and amount of the contribution. Free tax filing 2011 In the case of a lump-sum contribution (rather than a contribution by payroll deduction) made through the Combined Federal Campaign or a similar program such as a United Way Campaign, the written communication must include the name of the donee organization that is the ultimate recipient of the charitable contribution. Free tax filing 2011 Contributions by payroll deduction. Free tax filing 2011   An organization may substantiate an employee's contribution by deduction from its payroll by: A pay stub, Form W-2, or other document showing a contribution to a donee organization, together with A pledge card or other document from the donee organization that shows its name. Free tax filing 2011   For contributions of $250 or more, the document must state that the donee organization provides no goods or services for any payroll contributions. Free tax filing 2011 The amount withheld from each payment of wages to a taxpayer is treated as a separate contribution. Free tax filing 2011 Acknowledgment of Vehicle Contribution If an exempt organization receives a contribution of a qualified vehicle with a claimed value of more than $500, the donee organization is required to provide a contemporaneous written acknowledgment to the donor. Free tax filing 2011 The donee organization can use a completed Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, for the contemporaneous written acknowledgment. Free tax filing 2011 See section 3. Free tax filing 2011 03 of Notice 2005-44 for guidance on the information that must be included in a contemporaneous written acknowledgment and the deadline for furnishing the acknowledgment to the donor. Free tax filing 2011 Any donee organization that provides a contemporaneous written acknowledgment to a donor is required to report to the IRS the information contained in the acknowledgment. Free tax filing 2011 The report is due by February 28 (March 31 if filing electronically) of the year following the year in which the donee organization provides the acknowledgment to the donor. Free tax filing 2011 The organization must file the report on Copy A of Form 1098-C. Free tax filing 2011 An organization that files Form 1098-C on paper should send it with Form 1096, Annual Summary and Transmittal of U. Free tax filing 2011 S. Free tax filing 2011 Information Returns. Free tax filing 2011 See the Instructions for Form 1096 for the correct filing location. Free tax filing 2011 An organization that is required to file 250 or more Forms 1098-C during the calendar year must file the forms electronically or magnetically. Free tax filing 2011 Specifications for filing Form 1098-C electronically or magnetically can be found in Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically at www. Free tax filing 2011 IRS. Free tax filing 2011 gov/pub/irs-pdf/p1220. Free tax filing 2011 pdf. Free tax filing 2011 Acknowledgment For a contribution of a qualified vehicle with a claimed value of $500 or less, do not file Form 1098-C. Free tax filing 2011 However, you can use it as the contemporaneous written acknowledgment under section 170(f)(8) by providing the donor with Copy C only. Free tax filing 2011 See the Instructions for Form 1098-C. Free tax filing 2011 Generally, the organization should complete Form 1098-C as the written acknowledgment to the donor and the IRS. Free tax filing 2011 The contents of the acknowledgment depend upon whether the organization: Sells a qualified vehicle without any significant intervening use or material improvement, Intends to make a significant intervening use of or material improvement to a qualified vehicle prior to sale, or Sells a qualified vehicle to a needy individual at a price significantly below fair market value, or a gratuitous transfer to a needy individual in direct furtherance of a charitable purpose of the organization of relieving the poor and distressed or the underprivileged who are in need of a means of transportation. Free tax filing 2011 For more information on the acknowledgment, see Notice 2005-44, 2005-25 I. Free tax filing 2011 R. Free tax filing 2011 B. Free tax filing 2011 1287, at www. Free tax filing 2011 irs. Free tax filing 2011 gov/irb/2005-25_IRB/2005-25_IRB/ar09. Free tax filing 2011 html. Free tax filing 2011 Material improvements or significant intervening use. Free tax filing 2011   To constitute significant intervening use, the organization must actually use the vehicle to substantially further the organization's regularly conducted activities, and the use must be significant, not incidental. Free tax filing 2011 Factors in determining whether a use is a significant intervening use depend on the nature, extent, frequency, and duration. Free tax filing 2011 For this purpose, use includes providing transportation on a regular basis for a significant period of time or significant use directly related to training in vehicle repair. Free tax filing 2011 Use does not include the use of a vehicle to provide training in business skills, such as marketing or sales. Free tax filing 2011 Examples of significant use include: Driving a vehicle every day for 1 year to deliver meals to needy individuals, if delivering meals is an activity regularly conducted by the organization. Free tax filing 2011 Driving a vehicle for 10,000 miles over a 1-year period to deliver meals to needy individuals, if delivering meals is an activity regularly conducted by the organization. Free tax filing 2011   Material improvements include major repairs and additions that improve the condition of the vehicle in a manner that significantly increases the value. Free tax filing 2011 To be a material improvement, the improvement cannot be funded by an additional payment to the organization from the donor of the vehicle. Free tax filing 2011 Material improvements do not include cleaning, minor repairs, routine maintenance, painting, removal of dents or scratches, cleaning or repair of upholstery, and installation of theft deterrent devices. Free tax filing 2011 Penalties. Free tax filing 2011   If your charitable organization receives contributions of used motor vehicles, boats, and airplanes valued over $500 it may be subject to a penalty if it knowingly: Fails to furnish an acknowledgement in a timely manner, showing the required information, or Furnishes a false or fraudulent acknowledgement of the contribution. Free tax filing 2011    Other penalties may apply. Free tax filing 2011 See Part O in the 2012 General Instructions for Certain Information Returns. Free tax filing 2011   An acknowledgment containing a certification will be presumed to be false or fraudulent if the qualified vehicle is sold to a buyer other than a needy individual without a significant intervening use or material improvement within 6 months of the date of the contribution. Free tax filing 2011   If a charity sells a donated vehicle at auction, the IRS will not accept as substantiation an acknowledgment from the charity stating that the vehicle is to be transferred to a needy individual for significantly below fair market value. Free tax filing 2011 Vehicles sold at auction are not sold at prices significantly below fair market value, and the IRS will not treat vehicles sold at auction as qualifying for this exception. Free tax filing 2011   The penalty for a false or fraudulent acknowledgment where the donee certifies that the vehicle will not be transferred for money, other property, or services before completion of material improvements or significant intervening use or the donee certifies that the vehicle is to be transferred to a needy individual for significantly below fair market value in furtherance of the donee's charitable purpose is the larger of $5,000 or the claimed value of the vehicle multiplied by 39. Free tax filing 2011 6%. Free tax filing 2011   The penalty for an acknowledgment relating to a qualified vehicle being sold in an arm's length transaction to an unrelated party is the larger of the gross proceeds from the sale or the sales price stated in the acknowledgment multiplied by 39. Free tax filing 2011 6%. Free tax filing 2011 Qualified Intellectual Property A taxpayer who contributes qualified intellectual property to a charity may be entitled to a charitable deduction, in addition to any initial deduction allowed in the year of contribution. Free tax filing 2011 The additional deduction is based on a specified percentage of the qualified donee income with respect to the qualified intellectual property. Free tax filing 2011 To qualify for the additional charitable deduction, the donor must provide notice to the donee at the time of the contribution that the donor intends to treat the contribution as qualified intellectual property contribution for purposes of sections 170(m) and 6050L. Free tax filing 2011 Every donee organization described in section 170(c) (except a private foundation as defined in section 509(a) that is not described in section 170(b)(1)(F)) that receives or accrues net income from a charitable gift of qualified intellectual property must file Form 8899. Free tax filing 2011 Form 8899. Free tax filing 2011   Form 8899, Notice of Income From Donated Intellectual Property, is used by a donee to report net income from qualified intellectual property to the donor of the property and to the IRS and is due by the last day of the first full month following the close of the donee’s tax year. Free tax filing 2011 This form must be filed for each tax year of the donee in which the donated property produces net income, but only if all or part of that tax year occurs during the 10-year period beginning on the date of the contribution and that tax year does not begin after the expiration of the legal life of the donated property. Free tax filing 2011 Qualified donee income. Free tax filing 2011   Qualified donee income is any net income received by or accrued to the donee that is properly allocable to the qualified intellectual property for the tax year of the donee which ends within or with the tax year of the donor. Free tax filing 2011 Income is not treated as allocated to qualified intellectual property if it is received or accrued after the earlier of the expiration of the legal life of the qualified intellectual property, or the 10-year period beginning with the date of
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Page Last Reviewed or Updated: 14-Mar-2014

The Free Tax Filing 2011

Free tax filing 2011 20. Free tax filing 2011   Deducción Estándar Table of Contents Qué Hay de Nuevo Introduction Cantidad de la Deducción Estándar Deducción Estándar para DependientesDefinición del ingreso del trabajo. Free tax filing 2011 Quién Debe Detallar las DeduccionesCuándo detallar las deducciones. Free tax filing 2011 Personas casadas que presentan la declaración por separado. Free tax filing 2011 Qué Hay de Nuevo Aumento de la deducción estándar. Free tax filing 2011  La deducción estándar para ciertos contribuyentes que no detallen sus deducciones en el Anexo A del Formulario 1040 es mayor en el año 2013 de lo que fue en el año 2012. Free tax filing 2011 La cantidad de la deducción depende de su estado civil para efectos de la declaración. Free tax filing 2011 Puede utilizar las Tablas de Deducción Estándar para el año 2013 en este capítulo para calcular la deducción estándar. Free tax filing 2011 Introduction Este capítulo trata sobre los siguientes temas: Cómo calcular la cantidad de su deducción estándar. Free tax filing 2011 La deducción estándar para dependientes. Free tax filing 2011 Quién debe detallar las deducciones. Free tax filing 2011 La mayoría de los contribuyentes tienen la opción de tomar la deducción estándar o detallar sus deducciones. Free tax filing 2011 Si tene la opción, puede utilizar el método que resulte en la cantidad menor de impuestos. Free tax filing 2011 La deducción estándar es una cantidad en dólares que reduce su ingreso tributable. Free tax filing 2011 La deducción estándar es un beneficio que, para muchos contribuyentes, elimina la necesidad de detallar deducciones, tales como gastos médicos, aportaciones hechas a obras caritativas, e impuestos, en el Anexo A del Formulario 1040. Free tax filing 2011 La deducción estándar es mayor para los contribuyentes que: Tengan 65 años de edad o más o Sean ciegos. Free tax filing 2011 Usted se beneficia de la deducción estándar si ésta es mayor que el total de las deducciones detalladas permisibles. Free tax filing 2011 Personas que no reúnen los requisitos para la deducción estándar. Free tax filing 2011   Su deducción estándar es cero y debe detallar todas las deducciones que tenga si: Su estado civil para efectos de la declaración es casado que presenta la declaración por separado y su cónyuge detalla las deducciones en su propia declaración, Presenta una declaración de impuestos para un año tributario corto debido a un cambio en su período contable anual, o Es extranjero no residente o extranjero con doble residencia durante el año. Free tax filing 2011 Se le considera extranjero con doble residencia si tuvo estatus de ambos extranjero no residente y extranjero residente durante el año. Free tax filing 2011 Nota. Free tax filing 2011 Si es extranjero no residente que está casado con un ciudadano estadounidense o es residente extranjero al final del año, puede elegir ser tratado como residente estadounidense. Free tax filing 2011 Vea la Publicación 519, U. Free tax filing 2011 S. Free tax filing 2011 Tax Guide for Aliens (Guía sobre los impuestos federales estadounidenses para extranjeros), en inglés. Free tax filing 2011 Si elige esta opción, puede tomar la deducción estándar. Free tax filing 2011 Si alguna exención suya puede ser reclamada en la declaración de impuestos de otra persona (tal como la declaración de sus padres), es posible que su deducción estándar sea limitada. Free tax filing 2011 Vea Deducción Estándar para Dependientes , más adelante. Free tax filing 2011 Cantidad de la Deducción Estándar La cantidad de la deducción estándar depende de su estado civil para efectos de la declaración, si tiene 65 años de edad o más o es ciego, y si otro contribuyente puede reclamar una exención por usted. Free tax filing 2011 Generalmente, las cantidades de deducción estándar se ajustan cada año, conforme a la inflación. Free tax filing 2011 La cantidad de la deducción estándar para la mayoría de los contribuyentes se muestra en la Tabla 20-1. Free tax filing 2011 Declaración final de un fallecido. Free tax filing 2011   La deducción estándar para la declaración final de impuestos de un fallecido es igual a la que hubiese sido si el fallecido hubiese seguido con vida. Free tax filing 2011 No obstante, si el fallecido no tenía 65 años de edad o más al morir, no puede reclamar la deducción estándar más alta, concedida por cumplir esa edad. Free tax filing 2011 Deducción Estándar Más Alta por Edad (65 Años de Edad o Más) Si tiene 65 años de edad o más el último día del año y no detalla sus deducciones, tiene derecho a una deducción estándar más alta. Free tax filing 2011 Se considera que tiene 65 años de edad el día antes de cumplir sus 65 años. Free tax filing 2011 Por lo tanto, puede tomar una deducción estándar más alta para el año 2013 si nació antes del 2 de enero de 1949. Free tax filing 2011 Utilice la Tabla 20-2 para calcular la cantidad de la deducción estándar. Free tax filing 2011 Deducción Estándar Más Alta por Ceguera Si es ciego en el último día del año y no detalla sus deducciones, tiene derecho a una deducción estándar más alta. Free tax filing 2011 No está totalmente ciego. Free tax filing 2011   Si no está totalmente ciego, tiene que obtener una declaración certificada de un oftalmólogo u optometrista que indique que: Aún cuando tiene sus espejuelos o lentes de contacto puestos, su ojo mejor no registra una cifra de vista mejor que el 20/200 o Su campo visual es de 20 grados o menos. Free tax filing 2011   Si es poco probable que la condición de su vista vaya a mejorar más allá de estos límites, dicha declaración debería estipular este hecho. Free tax filing 2011 Tiene que guardar esta declaración con sus registros. Free tax filing 2011   Si su vista se puede corregir más allá de estos límites únicamente con lentes de contacto que sólo pueda usar durante un corto lapso de tiempo debido a dolor, infección o úlceras, usted puede tomar la deducción estándar más alta por ceguera si reúne los demás requisitos. Free tax filing 2011 Cónyuge de 65 Años o Más o Ciego Puede tomar la deducción estándar mayor si su cónyuge tiene 65 años o más de edad o está ciego y: Ustedes presentan una declaración conjunta o Usted presenta una declaración separada y reclama una exención por su cónyuge porque el mismo no tuvo ningún ingreso bruto; y otro contribuyente no pudo haber reclamado a su cónyuge como dependiente. Free tax filing 2011 No puede tomar la deducción estándar más alta por una persona que no sea usted o su cónyuge. Free tax filing 2011 Ejemplos Los siguientes ejemplos muestran cómo determinar su deducción estándar utilizando la Tabla 20-1 y 20-2. Free tax filing 2011 Ejemplo 1. Free tax filing 2011 Carlos, de 46 años de edad, y Ana, de 33 años de edad, presentan una declaración conjunta en el año 2013. Free tax filing 2011 Ninguno de los dos es ciego ni puede ser reclamado como dependiente. Free tax filing 2011 Ellos optan por no detallar sus deducciones. Free tax filing 2011 Ellos utilizan la Tabla 20-1. Free tax filing 2011 La deducción estándar para ambos es $12,200. Free tax filing 2011 Ejemplo 2. Free tax filing 2011 Los datos son los mismos que en el Ejemplo 1, salvo que Carlos está ciego al final del año 2013. Free tax filing 2011 Carlos y Ana utilizan la Tabla 20-2. Free tax filing 2011 La deducción estándar para ambos es $13,400. Free tax filing 2011 Ejemplo 3. Free tax filing 2011 Roberto y María presentan una declaración conjunta para 2013. Free tax filing 2011 Los dos son mayores de 65 años de edad. Free tax filing 2011 Ninguno de los dos es ciego y ninguno de los dos puede ser reclamado como dependiente. Free tax filing 2011 Si ellos no detallan las deducciones, utilizan la Tabla 20-2. Free tax filing 2011 Su deducción estándar es $14,600. Free tax filing 2011 Deducción Estándar para Dependientes La deducción estándar de una persona quien otra persona puede reclamar como dependiente en su declaración de impuestos suele limitarse a la cantidad siguiente que sea mayor: $1,000 o El ingreso del trabajo de la persona para el año, más $350 (pero no en exceso de la cantidad normal de la deducción estándar, generalmente $6,100). Free tax filing 2011 Sin embargo, la deducción estándar podría ser más alta si la persona tiene 65 años de edad o más o si es ciego. Free tax filing 2011 Si alguna exención suya (o de su cónyuge si presentan una declaración conjunta) se puede reclamar en la declaración de impuestos de otra persona, utilice la Tabla 20-3 para determinar su deducción estándar. Free tax filing 2011 Definición del ingreso del trabajo. Free tax filing 2011   El ingreso del trabajo corresponde a salarios, sueldos, propinas, honorarios por servicios profesionales y otras cantidades recibidas como pagos por trabajo que usted de hecho realiza. Free tax filing 2011    Para propósitos de la deducción estándar, el ingreso del trabajo también incluye toda parte de una beca de estudios o de una beca de desarrollo profesional que usted tenga que incluir en el ingreso bruto. Free tax filing 2011 Vea Becas de estudios y becas de desarrollo profesional en el capítulo 12, para más información sobre qué se considera una beca de estudios o una beca de desarrollo profesional. Free tax filing 2011 Ejemplo 1. Free tax filing 2011 Miguel es soltero. Free tax filing 2011 Sus padres reclaman una exención por él en su declaración de impuestos del año 2013. Free tax filing 2011 Tiene ingresos de intereses de $780 y un salario de $150. Free tax filing 2011 No tiene deducciones detalladas. Free tax filing 2011 Miguel utiliza la Tabla 20-3 para calcular su deducción estándar. Free tax filing 2011 Él anota $150 (su ingreso del trabajo) en la línea 1, $500 ($150 + $350) en la línea 3, $1,000 (la cantidad mayor entre $500 y $1,000) en la línea 5, y $6,100 en la línea 6. Free tax filing 2011 Su deducción estándar, la cual se anota en la línea 7a, es de $1,000 (la cantidad menor entre $1,000 y $6,100). Free tax filing 2011 Ejemplo 2. Free tax filing 2011 José, un estudiante universitario a tiempo completo con 22 años de edad, puede ser reclamado como dependiente en la declaración de impuestos del año 2013 de sus padres. Free tax filing 2011 José está casado y presenta una declaración por separado. Free tax filing 2011 Su esposa no detalla sus deducciones en su declaración. Free tax filing 2011 José tiene ingresos de intereses de $1,500 y un salario de $3,800. Free tax filing 2011 Él no tiene deducciones detalladas. Free tax filing 2011 José utiliza la Tabla 20-3 para calcular su deducción estándar. Free tax filing 2011 Él anota su ingreso de trabajo de $3,800 en la línea 1. Free tax filing 2011 Él suma las líneas 1 y 2 y anota $4,150 en la línea 3. Free tax filing 2011 En la línea 5, él anota $4,150, la cantidad mayor entre las líneas 3 y 4. Free tax filing 2011 Ya que José está casado y presenta una declaración por separado, él anota $6,100 en la línea 6. Free tax filing 2011 En la línea 7a, él anota $4,150, como su deducción estándar, porque es menos de $6,100, la cantidad en la línea 6. Free tax filing 2011 Ejemplo 3. Free tax filing 2011 Carla, que es soltera, puede ser reclamada como dependiente en la declaración de impuestos del año 2013 de sus padres. Free tax filing 2011 Tiene 18 años de edad y es ciega. Free tax filing 2011 Tiene ingresos de intereses de $1,300 y un salario de $2,900. Free tax filing 2011 Ella no tiene deducciones detalladas. Free tax filing 2011 Carla consulta la Tabla 20-3 para encontrar su deducción estándar. Free tax filing 2011 Ella anota su salario de $2,900 en la línea 1. Free tax filing 2011 Suma las líneas 1 y 2 y anota $3,250 en la línea 3. Free tax filing 2011 En la línea 5, anota $3,250, la mayor entre las líneas 3 y 4. Free tax filing 2011 Ya que ella es soltera, Carla anota $6,100 en la línea 6. Free tax filing 2011 Anota $3,250 en la línea 7a. Free tax filing 2011 Esta es la menor entre las cantidades de las líneas 5 y 6. Free tax filing 2011 Ya que ella marcó el recuadro en la parte superior de la hoja, ella anota $1,500 en la línea 7b. Free tax filing 2011 Luego, suma las cantidades de las líneas 7a y 7b y anota su deducción estándar de $4,750 en la línea 7c. Free tax filing 2011 Ejemplo 4. Free tax filing 2011 Edgardo es soltero. Free tax filing 2011 Sus padres pueden reclamar una exención por él en su declaración del 2013. Free tax filing 2011 Su salario es de $7,000, tiene ingresos por intereses de $500, y pérdida de negocio de $3,000. Free tax filing 2011 Él no tiene deducciones detalladas. Free tax filing 2011 Edgardo utiliza la Tabla 20-3 para calcular su deducción estándar. Free tax filing 2011 Él anota $4,000 ($7,000 - $ 3,000) en la línea 1. Free tax filing 2011 Suma las líneas 1 y 2 y anota $4,350 en la línea 3. Free tax filing 2011 En la línea 5, anota $4,350, la cantidad mayor entre las líneas 3 y 4. Free tax filing 2011 Ya que él es soltero, Edgardo anota $6,100 en la línea 6. Free tax filing 2011 En la línea 7a, anota $4,350 como su deducción estándar porque es menor de $6,100, la cantidad que fue anotada en la línea 6. Free tax filing 2011 Quién Debe Detallar las Deducciones Debe detallar las deducciones si el total de las mismas es mayor que la cantidad de la deducción estándar. Free tax filing 2011 Además, debe detallar las deducciones si no reúne los requisitos para la deducción estándar, según se explicó anteriormente bajo Personas que no reúnen los requisitos para la deducción estándar . Free tax filing 2011 Debe calcular primero las deducciones detalladas y comparar aquella cantidad con su deducción estándar para asegurarse de estar utilizando el método que le brinda el mayor beneficio. Free tax filing 2011 Puede estar sujeto a un límite en algunas de sus deducciones detalladas si su ingreso bruto ajustado es mayor que: $250,000 si es soltero ($275,000 si es cabeza de familia, $300,000 si es casado que presenta una declaración conjunta o viudo(a) que reúne los requisitos; o $150,000 si es casado que presenta la declaración por separado). Free tax filing 2011 Vea el capítulo 29 o las instrucciones para el Anexo A (Formulario 1040) para más información sobre cómo calcular la cantidad exacta de sus deducciones detalladas. Free tax filing 2011 Cuándo detallar las deducciones. Free tax filing 2011   Es posible que le convenga detallar sus deducciones en el Anexo A (Formulario 1040) si usted: No reúne los requisitos para la deducción estándar o la cantidad que puede reclamar está limitada, Tuvo gastos médicos o dentales cuantiosos que no fueron cubiertos por su seguro durante el año, Pagó intereses e impuestos sobre su vivienda, Tuvo gastos de negocio del empleado cuantiosos que no fueron reembolsados por su empleador u otras deducciones misceláneas, Tuvo pérdidas por hechos fortuitos o por robo cuantiosas que no fueron cubiertas por su seguro, Hizo aportaciones cuantiosas a instituciones de caridad calificadas, o Tiene deducciones detalladas cuyo total es mayor que la deducción estándar a la que, por lo demás, tiene derecho. Free tax filing 2011 Estas deducciones se explican en los capítulos 21 al 28. Free tax filing 2011   Si decide detallar las deducciones, complete el Anexo A y adjúntelo a su Formulario 1040. Free tax filing 2011 Anote la cantidad de la línea 29 del Anexo A en la línea 40 del Formulario 1040. Free tax filing 2011 Puede optar por detallar las deducciones para impuestos estatales u otros propósitos. Free tax filing 2011   Aun si sus deducciones detalladas son menos que su deducción estándar, puede optar por detallar sus deducciones en la declaración de impuestos federales en vez de tomar la deducción estándar. Free tax filing 2011 Es posible que le convenga hacer esto si, por ejemplo, el beneficio tributario de detallar sus deducciones en la declaración de impuestos estatales es mayor que el beneficio tributario que pierde si no toma la deducción estándar en la declaración de impuestos federales. Free tax filing 2011 Para elegir esta opción, tiene que marcar el recuadro de la línea 30 del Anexo A. Free tax filing 2011 Si cambia de idea. Free tax filing 2011   Si no detalla las deducciones y más tarde se da cuenta de que debió haberlas detallado –o si detalla las deducciones y más tarde se da cuenta de que no debió haberlo hecho– puede cambiar su declaración de impuestos presentando el Formulario 1040X, Amended U. Free tax filing 2011 S. Free tax filing 2011 Individual Income Tax Return (Declaración enmendada del impuesto federal sobre el ingreso personal en los Estados Unidos), en inglés. Free tax filing 2011 Vea Declaraciones Enmendadas y Solicitudes de Reembolso en el capítulo 1 para más información sobre las declaraciones enmendadas. Free tax filing 2011 Personas casadas que presentan la declaración por separado. Free tax filing 2011   Puede cambiar de método para tomar deducciones sólo si usted y su cónyuge hacen los mismos cambios. Free tax filing 2011 Cada uno de los dos tienen que presentar una autorización para permitir la determinación de impuestos adicionales que cualquiera de ustedes pueda adeudar como resultado de dicho cambio. Free tax filing 2011    Usted y su cónyuge pueden utilizar el método que les resulte en el total de impuestos más bajo, aunque uno de ustedes quizá pague más impuestos de los que hubiera pagado al utilizar el otro método. Free tax filing 2011 Tanto usted como su cónyuge tienen que utilizar el mismo método para reclamar deducciones. Free tax filing 2011 Si uno de ustedes detalla sus deducciones, el otro debe detallar sus deducciones también, porque él o ella no reunirá los requisitos para la deducción estándar. Free tax filing 2011 Vea Personas que no reúnen los requisitos para la deduccón estándar , anteriormente. Free tax filing 2011 Tablas de Deducción Estándar para el 2013 Si usted es casado que presenta la declaración por separado y su cónyuge detalla las deducciones, o si usted es extranjero con doble residencia, no puede tomar la deducción estándar aunque haya nacido antes del 2 de enero de 1949 o sea ciego. Free tax filing 2011 Tabla 20-1. Free tax filing 2011 Tabla de Deducción Estándar para la Mayoría de las Personas* Si su estado civil para efectos de la  declaración es Entonces su  deducción  estándar es: Soltero o casado que presenta la declaración por separado $6,100 Casado que presenta la declaración conjunta o viudo(a) que reúne los requisitos con hijo dependiente 12,200 Cabeza de familia 8,950 * No utilice esta tabla si nació antes del 2 de enero de 1949, o es ciego, o si alguien más puede reclamar una exención por usted (o por su cónyuge, si es casado que presenta la declaración conjuntamente). Free tax filing 2011 En vez de ésta, utilice la Tabla 20-2 ó 20-3. Free tax filing 2011 Tabla 20-2. Free tax filing 2011 Tabla de la Deducción Estándar para Personas que Nacieron Antes del 2 de enero de 1949 o que sean ciegas* Marque el número correcto de recuadros siguientes. Free tax filing 2011 Luego pase a la tabla. Free tax filing 2011 Usted: Nació antes del  2 de enero de 1949□ Es ciego□ Su cónyuge, si reclama  una exención por él o ella: Nació antes del  2 de enero de 1949 □ Es ciego□ Número total de recuadros que marcó   SI su estado civil para   efectos de la  declaración es Y el número en el  recuadro de arriba es ENTONCES su deducción  estándar es: Soltero 1 $7,600   2 9,100 Casado que presenta la 1 $13,400 declaración conjunta o 2 14,600 viudo(a) que reúne los requisitos 3 15,800 con hijo dependiente 4 17,000 Casado que presenta 1 $7,300 la declaración por separado 2 8,500   3 9,700   4 10,900 Cabeza de familia 1 $10,450   2 11,950 *Si alguien más puede reclamar una exención por usted (o su cónyuge, si presenta la declaración conjunta), utilice la tabla 20-3, en vez de ésta. Free tax filing 2011 Tabla 20-3. Free tax filing 2011 Tabla de Deducción Estándar para Dependientes Utilice esta hoja de trabajo sólo si alguien más puede reclamar una exención por usted (o por su cónyuge, si es casado que presenta la declaración conjuntamente). Free tax filing 2011 Marque el número correcto de recuadros más abajo. Free tax filing 2011 Luego pase a la hoja de trabajo. Free tax filing 2011 Usted:   Nació antes del 2 de enero de 1949 □ Es ciego □ Su cónyuge, si reclama una exención por él o ella: Nació antes del 2 de enero de 1949 □ Es ciego □ Número total de recuadros que marcó 1. Free tax filing 2011 Anote su ingreso del trabajo (definido más abajo). Free tax filing 2011 Si no tiene ninguno, anote -0-. Free tax filing 2011 1. Free tax filing 2011   2. Free tax filing 2011 Cantidad adicional. Free tax filing 2011 2. Free tax filing 2011 $350 3. Free tax filing 2011 Sume las líneas 1 y 2. Free tax filing 2011 3. Free tax filing 2011   4. Free tax filing 2011 Deducción estándar mínima. Free tax filing 2011 4. Free tax filing 2011 $1,000 5. Free tax filing 2011 De las líneas 3 ó 4, anote la cantidad mayor. Free tax filing 2011 5. Free tax filing 2011   6. Free tax filing 2011 Anote una de las cantidades siguientes según su estado civil para efectos de la declaración. Free tax filing 2011 Soltero o Casado que presenta la declaración por separado—$6,100 Casado que presenta la declaración conjunta—$12,200 Cabeza de familia—$8,950 6. Free tax filing 2011   7. Free tax filing 2011 Deducción estándar. Free tax filing 2011         a. Free tax filing 2011 De las líneas 5 ó 6, anote la cantidad que sea menor. Free tax filing 2011 Si nació después del 1 de enero de 1949, y no es ciego, pare. Free tax filing 2011 Ésta es su deducción estándar. Free tax filing 2011 De lo contrario, pase a la línea 7b. Free tax filing 2011 7a. Free tax filing 2011     b. Free tax filing 2011 Si nació antes del 2 de enero de 1949, o si es ciego, multiplique $1,500 ($1,200 si es casado) por la cifra en la línea de arriba. Free tax filing 2011 7b. Free tax filing 2011     c. Free tax filing 2011 Sume las líneas 7a y 7b. Free tax filing 2011 Ésta es su deducción estándar para el año 2013. Free tax filing 2011 7c. Free tax filing 2011   El ingreso del trabajo incluye salarios, sueldos, propinas, honorarios por servicios profesionales y otras remuneraciones recibidas por servicios personales que usted prestó. Free tax filing 2011 También incluye toda cantidad recibida por concepto de beca que deba incluir en sus ingresos. Free tax filing 2011 Prev  Up  Next   Home   More Online Publications