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Free taxes preparation 6. Free taxes preparation   Tip Income Table of Contents Introduction Useful Items - You may want to see: Keeping a Daily Tip RecordElectronic tip record. Free taxes preparation Reporting Tips to Your EmployerElectronic tip statement. Free taxes preparation Final report. Free taxes preparation Reporting Tips on Your Tax Return Allocated Tips Introduction This chapter is for employees who receive tips. Free taxes preparation All tips you receive are income and are subject to federal income tax. Free taxes preparation You must include in gross income all tips you receive directly, charged tips paid to you by your employer, and your share of any tips you receive under a tip-splitting or tip-pooling arrangement. Free taxes preparation The value of noncash tips, such as tickets, passes, or other items of value, is also income and subject to tax. Free taxes preparation Reporting your tip income correctly is not difficult. Free taxes preparation You must do three things. Free taxes preparation Keep a daily tip record. Free taxes preparation Report tips to your employer. Free taxes preparation Report all your tips on your income tax return. Free taxes preparation  This chapter will explain these three things and show you what to do on your tax return if you have not done the first two. Free taxes preparation This chapter will also show you how to treat allocated tips. Free taxes preparation For information on special tip programs and agreements, see Publication 531. Free taxes preparation Useful Items - You may want to see: Publication 531 Reporting Tip Income 1244 Employee's Daily Record of Tips and Report to Employer Form (and Instructions) 4137 Social Security and Medicare Tax on Unreported Tip Income 4070 Employee's Report of Tips to Employer Keeping a Daily Tip Record Why keep a daily tip record. Free taxes preparation   You must keep a daily tip record so you can: Report your tips accurately to your employer, Report your tips accurately on your tax return, and Prove your tip income if your return is ever questioned. Free taxes preparation How to keep a daily tip record. Free taxes preparation   There are two ways to keep a daily tip record. Free taxes preparation You can either: Write information about your tips in a tip diary, or Keep copies of documents that show your tips, such as restaurant bills and credit or debit card charge slips. Free taxes preparation You should keep your daily tip record with your tax or other personal records. Free taxes preparation You must keep your records for as long as they are important for administration of the federal tax law. Free taxes preparation For information on how long to keep records, see How long to keep records in chapter 1. Free taxes preparation    If you keep a tip diary, you can use Form 4070A, Employee's Daily Record of Tips. Free taxes preparation To get Form 4070A, ask the Internal Revenue Service (IRS) or your employer for Publication 1244. Free taxes preparation Also, Publication 1244 is available online at www. Free taxes preparation irs. Free taxes preparation gov/pub/irs-pdf/p1244. Free taxes preparation pdf. Free taxes preparation Publication 1244 includes a 1-year supply of Form 4070A. Free taxes preparation Each day, write in the information asked for on the form. Free taxes preparation   In addition to the information asked for on Form 4070A, you also need to keep a record of the date and value of any noncash tips you get, such as tickets, passes, or other items of value. Free taxes preparation Although you do not report these tips to your employer, you must report them on your tax return. Free taxes preparation   If you do not use Form 4070A, start your records by writing your name, your employer's name, and the name of the business (if it is different from your employer's name). Free taxes preparation Then, each workday, write the date and the following information. Free taxes preparation Cash tips you get directly from customers or from other employees. Free taxes preparation Tips from credit and debit card charge customers that your employer pays you. Free taxes preparation The value of any noncash tips you get, such as tickets, passes, or other items of value. Free taxes preparation The amount of tips you paid out to other employees through tip pools or tip splitting, or other arrangements, and the names of the employees to whom you paid the tips. Free taxes preparation Electronic tip record. Free taxes preparation   You can use an electronic system provided by your employer to record your daily tips. Free taxes preparation If you do, you must receive and keep a paper copy of this record. Free taxes preparation Service charges. Free taxes preparation    Do not write in your tip diary the amount of any service charge that your employer adds to a customer's bill and then pays to you and treats as wages. Free taxes preparation This is part of your wages, not a tip. Free taxes preparation See examples below. Free taxes preparation Example 1. Free taxes preparation Good Food Restaurant adds an 18% charge to the bill for parties of 6 or more customers. Free taxes preparation Jane’s bill for food and beverages for her party of 8 includes an amount on the tip line equal to 18% of the charges for food and beverages, and the total includes this amount. Free taxes preparation Because Jane did not have an unrestricted right to determine the amount on the “tip line,” the 18% charge is considered a service charge. Free taxes preparation Do not include the 18% charge in your tip diary. Free taxes preparation Service charges that are paid to you are considered wages, not tips. Free taxes preparation Example 2. Free taxes preparation Good Food Restaurant also includes sample calculations of tip amounts at the bottom of its bills for food and beverages provided to customers. Free taxes preparation David’s bill includes a blank “tip line,” with sample tip calculations of 15%, 18%, and 20% of his charges for food and beverages at the bottom of the bill beneath the signature line. Free taxes preparation Because David is free to enter any amount on the “tip line” or leave it blank, any amount he includes is considered a tip. Free taxes preparation Be sure to include this amount in your tip diary. Free taxes preparation Reporting Tips to Your Employer Why report tips to your employer. Free taxes preparation   You must report tips to your employer so that: Your employer can withhold federal income tax and social security, Medicare, Additional Medicare, or railroad retirement taxes, Your employer can report the correct amount of your earnings to the Social Security Administration or Railroad Retirement Board (which affects your benefits when you retire or if you become disabled, or your family's benefits if you die), and You can avoid the penalty for not reporting tips to your employer (explained later). Free taxes preparation What tips to report. Free taxes preparation   Report to your employer only cash, check, and debit and credit card tips you receive. Free taxes preparation   If your total tips for any 1 month from any one job are less than $20, do not report the tips for that month to that employer. Free taxes preparation   If you participate in a tip-splitting or tip-pooling arrangement, report only the tips you receive and retain. Free taxes preparation Do not report to your employer any portion of the tips you receive that you pass on to other employees. Free taxes preparation However, you must report tips you receive from other employees. Free taxes preparation    Do not report the value of any noncash tips, such as tickets or passes, to your employer. Free taxes preparation You do not pay social security, Medicare, Additional Medicare or railroad retirement taxes on these tips. Free taxes preparation How to report. Free taxes preparation    If your employer does not give you any other way to report tips, you can use Form 4070. Free taxes preparation Fill in the information asked for on the form, sign and date the form, and give it to your employer. Free taxes preparation To get a 1-year supply of the form, ask the IRS or your employer for Publication 1244. Free taxes preparation   If you do not use Form 4070, give your employer a statement with the following information. Free taxes preparation Your name, address, and social security number. Free taxes preparation Your employer's name, address, and business name (if it is different from your employer's name). Free taxes preparation The month (or the dates of any shorter period) in which you received tips. Free taxes preparation The total tips required to be reported for that period. Free taxes preparation You must sign and date the statement. Free taxes preparation Be sure to keep a copy with your tax or other personal records. Free taxes preparation   Your employer may require you to report your tips more than once a month. Free taxes preparation However, the statement cannot cover a period of more than 1 calendar month. Free taxes preparation Electronic tip statement. Free taxes preparation   Your employer can have you furnish your tip statements electronically. Free taxes preparation When to report. Free taxes preparation   Give your report for each month to your employer by the 10th of the next month. Free taxes preparation If the 10th falls on a Saturday, Sunday, or legal holiday, give your employer the report by the next day that is not a Saturday, Sunday, or legal holiday. Free taxes preparation Example. Free taxes preparation You must report your tips received in September 2014 by October 10, 2014. Free taxes preparation Final report. Free taxes preparation   If your employment ends during the month, you can report your tips when your employment ends. Free taxes preparation Penalty for not reporting tips. Free taxes preparation   If you do not report tips to your employer as required, you may be subject to a penalty equal to 50% of the social security, Medicare, and Additional Medicare taxes or railroad retirement tax you owe on the unreported tips. Free taxes preparation (For information about these taxes, see Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer under Reporting Tips on Your Tax Return, later. Free taxes preparation ) The penalty amount is in addition to the taxes you owe. Free taxes preparation   You can avoid this penalty if you can show reasonable cause for not reporting the tips to your employer. Free taxes preparation To do so, attach a statement to your return explaining why you did not report them. Free taxes preparation Giving your employer money for taxes. Free taxes preparation   Your regular pay may not be enough for your employer to withhold all the taxes you owe on your regular pay plus your reported tips. Free taxes preparation If this happens, you can give your employer money until the close of the calendar year to pay the rest of the taxes. Free taxes preparation   If you do not give your employer enough money, your employer will apply your regular pay and any money you give in the following order. Free taxes preparation All taxes on your regular pay. Free taxes preparation Social security, Medicare, and Additional Medicare taxes or railroad retirement taxes on your reported tips. Free taxes preparation Federal, state, and local income taxes on your reported tips. Free taxes preparation    Any taxes that remain unpaid can be collected by your employer from your next paycheck. Free taxes preparation If withholding taxes remain uncollected at the end of the year, you may be subject to a penalty for underpayment of estimated taxes. Free taxes preparation See Publication 505, Tax Withholding and Estimated Tax, for more information. Free taxes preparation    Uncollected taxes. Free taxes preparation You must report on your tax return any social security and Medicare taxes or railroad retirement tax that remained uncollected at the end of 2013. Free taxes preparation These uncollected taxes will be shown on your 2013 Form W-2. Free taxes preparation See Reporting uncollected social security, Medicare, or railroad retirement taxes on tips reported to your employer under Reporting Tips on Your Tax Return, later. Free taxes preparation Reporting Tips on Your Tax Return How to report tips. Free taxes preparation    Report your tips with your wages on Form 1040, line 7; Form 1040A, line 7; or Form 1040EZ, line 1. Free taxes preparation What tips to report. Free taxes preparation   You must report all tips you received in 2013 on your tax return, including both cash tips and noncash tips. Free taxes preparation Any tips you reported to your employer for 2013 are included in the wages shown in box 1 of your Form W-2. Free taxes preparation Add to the amount in box 1 only the tips you did not report to your employer. Free taxes preparation    If you received $20 or more in cash and charge tips in a month and did not report all of those tips to your employer, see Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer, later. Free taxes preparation    If you did not keep a daily tip record as required and an amount is shown in box 8 of your Form W-2, see Allocated Tips, later. Free taxes preparation   If you kept a daily tip record and reported tips to your employer as required under the rules explained earlier, add the following tips to the amount in box 1 of your Form W-2. Free taxes preparation Cash and charge tips you received that totaled less than $20 for any month. Free taxes preparation The value of noncash tips, such as tickets, passes, or other items of value. Free taxes preparation Example. Free taxes preparation Ben Smith began working at the Blue Ocean Restaurant (his only employer in 2013) on June 30 and received $10,000 in wages during the year. Free taxes preparation Ben kept a daily tip record showing that his tips for June were $18 and his tips for the rest of the year totaled $7,000. Free taxes preparation He was not required to report his June tips to his employer, but he reported all of the rest of his tips to his employer as required. Free taxes preparation Ben's Form W-2 from Blue Ocean Restaurant shows $17,000 ($10,000 wages plus $7,000 reported tips) in box 1. Free taxes preparation He adds the $18 unreported tips to that amount and reports $17,018 as wages on his tax return. Free taxes preparation Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer. Free taxes preparation    If you received $20 or more in cash and charge tips in a month from any one job and did not report all of those tips to your employer, you must report the social security, Medicare, and Additional Medicare taxes on the unreported tips as additional tax on your return. Free taxes preparation To report these taxes, you must file a return even if you would not otherwise have to file. Free taxes preparation You must use Form 1040. Free taxes preparation (You cannot file Form 1040EZ or Form 1040A. Free taxes preparation )    Use Form 4137 to figure social security and Medicare taxes. Free taxes preparation Enter the tax on your return as instructed, and attach the completed Form 4137 to your return. Free taxes preparation Use Form 8959 to figure Additional Medicare Tax. Free taxes preparation    If you are subject to the Railroad Retirement Tax Act, you cannot use Form 4137 to pay railroad retirement tax on unreported tips. Free taxes preparation To get railroad retirement credit, you must report tips to your employer. Free taxes preparation Reporting uncollected social security, Medicare, or railroad retirement taxes on tips reported to your employer. Free taxes preparation   You may have uncollected taxes if your regular pay was not enough for your employer to withhold all the taxes you owe and you did not give your employer enough money to pay the rest of the taxes. Free taxes preparation For more information, see Giving your employer money for taxes , under Reporting Tips to Your Employer, earlier. Free taxes preparation   If your employer could not collect all the social security and Medicare taxes or railroad retirement tax you owe on tips reported for 2013, the uncollected taxes will be shown in box 12 of your Form W-2 (codes A and B). Free taxes preparation You must report these amounts as additional tax on your return. Free taxes preparation Unlike the uncollected portion of the regular (1. Free taxes preparation 45%) Medicare tax, the uncollected Additional Medicare Tax is not reported in box 12 of Form W-2 with code B. Free taxes preparation    To report these uncollected taxes, you must file a return even if you would not otherwise have to file. Free taxes preparation You must report these taxes on Form 1040, line 60. Free taxes preparation See the instructions for Form 1040, line 60. Free taxes preparation (You cannot file Form 1040EZ or Form 1040A. Free taxes preparation ) Allocated Tips If your employer allocated tips to you, they are shown separately in box 8 of your Form W-2. Free taxes preparation They are not included in box 1 with your wages and reported tips. Free taxes preparation If box 8 is blank, this discussion does not apply to you. Free taxes preparation What are allocated tips. Free taxes preparation   These are tips that your employer assigned to you in addition to the tips you reported to your employer for the year. Free taxes preparation Your employer will have done this only if: You worked in an establishment (restaurant, cocktail lounge, or similar business) that must allocate tips to employees, and The tips you reported to your employer were less than your share of 8% of food and drink sales. Free taxes preparation No income, social security, Medicare, Additional Medicare or railroad retirement taxes are withheld on allocated tips. Free taxes preparation How were your allocated tips figured. Free taxes preparation   The tips allocated to you are your share of an amount figured by subtracting the reported tips of all employees from 8% (or an approved lower rate) of food and drink sales (other than carryout sales and sales with a service charge of 10% or more). Free taxes preparation Your share of that amount was figured using either a method provided by an employer-employee agreement or a method provided by IRS regulations based on employees' sales or hours worked. Free taxes preparation For information about the exact allocation method used, ask your employer. Free taxes preparation Must you report your allocated tips on your tax return. Free taxes preparation   You must report all tips you received in 2013 on your tax return, including both cash tips and noncash tips. Free taxes preparation Any tips you reported to your employer for 2013 are included in the wages shown in box 1 of your Form W-2. Free taxes preparation Add to the amount in box 1 only the tips you did not report to your employer. Free taxes preparation This should include any allocated tips shown in box 8 on your Form(s) W-2, unless you have adequate records to show that you received less tips in the year than the allocated figures. Free taxes preparation   See What tips to report under Reporting Tips on Your Tax Return, and Keeping a Daily Tip Record , earlier. Free taxes preparation How to report allocated tips. Free taxes preparation   Report the amount in box 1 and the allocated tips in box 8 of your Form(s) W-2 as wages on Form 1040, line 7; Form 1040NR, line 8; or Form 1040NR-EZ, line 3. Free taxes preparation (You cannot file Form 1040A or Form 1040EZ when you have allocated tips. Free taxes preparation )    Because social security, Medicare, and Additional Medicare taxes were not withheld from the allocated tips, you must report those taxes as additional tax on your return. Free taxes preparation Complete Form 4137, and include the allocated tips on line 1 of the form. Free taxes preparation See Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer under Reporting Tips on Your Tax Return, earlier. Free taxes preparation Prev  Up  Next   Home   More Online Publications
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Disposiciones Tributarias de la Ley de Cuidado de Salud a Bajo Precio

English

 

 Personas físicas
 y familias
 
 Empleadores
 
Otras organizaciones
 
La Ley de Cuidado de Salud, aborda las opciones de cobertura de seguro médico y ayuda financiera para personas físicas y familias, incluso el Crédito Tributario para Primas. El IRS, administra las disposiciones tributarias incluidas en la nueva ley. Visite CuidadoDeSalud.gov para más información sobre las opciones de cobertura y ayuda.
   
   
La Ley de Cuidado de Salud, contiene muchas disposiciones tributarias y otras para empleadores. El IRS administra las disposiciones tributarias incluidas en la ley. Visite CuidadoDeSalud.gov y SBA.gov/healthcare para más información sobre otras disposiciones.
 
 
  • Aseguradores
  • Ciertos Tipos de Negocios
  • Organizaciones Exentas y Gubernamentales

 

 

Page Last Reviewed or Updated: 26-Mar-2014

The Free Taxes Preparation

Free taxes preparation Index A Additional Medicare Tax, Reminders, Additional Medicare Tax withholding. Free taxes preparation Adjustments, Reporting Adjustments to Form 941-SS, 944-SS, 944, or 943 Agricultural labor, Deposits. Free taxes preparation Aliens, nonresidents, Deposits. Free taxes preparation Assistance (see Tax help) C Calendar, Calendar Comments on publication, Comments and suggestions. Free taxes preparation Common-law employee, Employee status under common law. Free taxes preparation Corrected wage and tax statement, Correcting Forms W-2AS, W-2CM, W-2GU, W-2VI, and Form W-3SS. Free taxes preparation Crew leaders, Farm Crew Leaders Current period adjustments, Current Period Adjustments D Deposit How to deposit, How To Deposit Penalties, Deposit Penalties Period, Deposit Period Requirements, 8. Free taxes preparation Depositing Taxes Rules $100,000 next-day deposit, $100,000 Next-Day Deposit Rule Accuracy of deposits, Accuracy of Deposits Rule Schedules Monthly, Monthly Deposit Schedule Semiweekly, Semiweekly Deposit Schedule When to deposit, When To Deposit E Electronic deposits, Electronic deposit requirement. Free taxes preparation Electronic filing and payment, Reminders Employee, 2. Free taxes preparation Who Are Employees? Employer identification number (EIN), 1. Free taxes preparation Employer Identification Number (EIN) F Family employees, Deposits. Free taxes preparation Farm crew leaders, Farm Crew Leaders Farmworkers, 6. Free taxes preparation Social Security and Medicare Taxes for Farmworkers, Employers of farmworkers. Free taxes preparation Federal employees, Deposits. Free taxes preparation Fishing, Deposits. Free taxes preparation Form, Calendar, Lookback period for employers of nonfarm workers. Free taxes preparation 4070, 5. Free taxes preparation Tips 4070A, 5. Free taxes preparation Tips 8274, Deposits. Free taxes preparation 940, Calendar 941-SS, Calendar, Current Period Adjustments 941-X, Adjustments to lookback period taxes. Free taxes preparation 943, Calendar 943-X, Adjustments to lookback period taxes. Free taxes preparation 944-X, Adjustments to lookback period taxes. Free taxes preparation Schedule H (Form 1040), Household employers reporting social security and Medicare taxes. Free taxes preparation SS-4, 1. Free taxes preparation Employer Identification Number (EIN) SS-5, Reminders, Employee's social security card. Free taxes preparation SS-8, IRS help. Free taxes preparation W-2c, Employee's social security card. Free taxes preparation , Correcting Forms W-2AS, W-2CM, W-2GU, W-2VI, and Form W-3SS. Free taxes preparation Fringe benefits, Fringe Benefits, Deposits. Free taxes preparation FUTA tax, 11. Free taxes preparation Federal Unemployment (FUTA) Tax—U. Free taxes preparation S. Free taxes preparation Virgin Islands Employers Only G Government employees, nonfederal, Deposits. Free taxes preparation Group-term life insurance, Deposits. Free taxes preparation H Help (see Tax help) Hiring new employees, Reminders Homeworkers, Deposits. Free taxes preparation Hospital interns, Deposits. Free taxes preparation Household employers, Household employers reporting social security and Medicare taxes. Free taxes preparation Household workers, Household employers reporting social security and Medicare taxes. Free taxes preparation , Deposits. Free taxes preparation How to deposit, How To Deposit I Insurance agents, Deposits. Free taxes preparation IRS help (employee v. Free taxes preparation subcontractor), IRS help. Free taxes preparation L Lookback period Farmworkers, Lookback period for employers of farmworkers. Free taxes preparation Nonfarm workers, Lookback period for employers of nonfarm workers. Free taxes preparation M Meals and lodging, Deposits. Free taxes preparation Ministers, Deposits. Free taxes preparation Monthly deposit schedule, Monthly Deposit Schedule Moving expenses, Deposits. Free taxes preparation N Newspaper delivery, Deposits. Free taxes preparation Noncash payments, Deposits. Free taxes preparation Nonprofit organizations, Deposits. Free taxes preparation P Partners, Deposits. Free taxes preparation Penalties, Deposit Penalties Pension plans, Deposits. Free taxes preparation Prior period adjustments, Prior Period Adjustments Private delivery services, Reminders Publications (see Tax help) R Recordkeeping, Reminders Religious orders, Deposits. Free taxes preparation Retirement and pension plans, Deposits. Free taxes preparation S Salespersons, Deposits. Free taxes preparation Scholarships and fellowships, Deposits. Free taxes preparation Semiweekly deposit schedule, Semiweekly Deposit Schedule Severance pay, Deposits. Free taxes preparation Sick pay, Sick pay. Free taxes preparation , Sick pay payments. Free taxes preparation , Deposits. Free taxes preparation Social security number (SSN), 3. Free taxes preparation Employee's Social Security Number (SSN) Statutory employee, Statutory employees. Free taxes preparation Statutory nonemployee, Statutory nonemployees. Free taxes preparation Students, Deposits. Free taxes preparation Suggestions for publication, Comments and suggestions. Free taxes preparation Supplemental unemployment compensation benefits, Deposits. Free taxes preparation T Tax help, How To Get Tax Help Tax Help, Tax help. Free taxes preparation Taxes paid by employer, Employee's portion of taxes paid by employer. Free taxes preparation Tips, 5. Free taxes preparation Tips, Deposits. Free taxes preparation Travel and business expenses, Travel and business expenses. Free taxes preparation Trust fund recovery penalty, Trust fund recovery penalty. Free taxes preparation W Wage and Tax Statement, 10. Free taxes preparation Wage and Tax Statements Prev  Up     Home   More Online Publications