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How To Amend 2008 Tax Return

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How To Amend 2008 Tax Return

How to amend 2008 tax return Publication 583 - Main Content Table of Contents What New Business Owners Need To Know Forms of BusinessMore information. How to amend 2008 tax return More information. How to amend 2008 tax return Exception—Community Income. How to amend 2008 tax return Exception—Qualified joint venture. How to amend 2008 tax return More information. How to amend 2008 tax return More information. How to amend 2008 tax return Identification NumbersEmployer Identification Number (EIN) Payee's Identification Number Tax Year Accounting Method Business TaxesIncome Tax Self-Employment Tax Employment Taxes Excise Taxes Depositing Taxes Information Returns PenaltiesWaiver of penalty. How to amend 2008 tax return Business ExpensesBusiness Start-Up Costs Depreciation Business Use of Your Home Car and Truck Expenses RecordkeepingWhy Keep Records? Kinds of Records To Keep How Long To Keep Records Sample Record System How to Get More InformationInternal Revenue Service Small Business Administration Other Federal Agencies What New Business Owners Need To Know As a new business owner, you need to know your federal tax responsibilities. How to amend 2008 tax return Table 1 can help you learn what those responsibilities are. How to amend 2008 tax return Ask yourself each question listed in the table, then see the related discussion to find the answer. How to amend 2008 tax return In addition to knowing about federal taxes, you need to make some basic business decisions. How to amend 2008 tax return Ask yourself: What are my financial resources? What products and services will I sell? How will I market my products and services? How will I develop a strategic business plan? How will I manage my business on a day-to-day basis? How will I recruit employees? The Small Business Administration (SBA) is a federal agency that can help you answer these types of questions. How to amend 2008 tax return For information on how to contact the SBA, see How to Get More Information, later. How to amend 2008 tax return Forms of Business The most common forms of business are the sole proprietorship, partnership, and corporation. How to amend 2008 tax return When beginning a business, you must decide which form of business to use. How to amend 2008 tax return Legal and tax considerations enter into this decision. How to amend 2008 tax return Only tax considerations are discussed in this publication. How to amend 2008 tax return Your form of business determines which income tax return form you have to file. How to amend 2008 tax return See Table 2 to find out which form you have to file. How to amend 2008 tax return Sole proprietorships. How to amend 2008 tax return   A sole proprietorship is an unincorporated business that is owned by one individual. How to amend 2008 tax return It is the simplest form of business organization to start and maintain. How to amend 2008 tax return The business has no existence apart from you, the owner. How to amend 2008 tax return Its liabilities are your personal liabilities. How to amend 2008 tax return You undertake the risks of the business for all assets owned, whether or not used in the business. How to amend 2008 tax return You include the income and expenses of the business on your personal tax return. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information on sole proprietorships, see Publication 334, Tax Guide for Small Business. How to amend 2008 tax return If you are a farmer, see Publication 225, Farmer's Tax Guide. How to amend 2008 tax return Partnerships. How to amend 2008 tax return   A partnership is the relationship existing between two or more persons who join to carry on a trade or business. How to amend 2008 tax return Each person contributes money, property, labor, or skill, and expects to share in the profits and losses of the business. How to amend 2008 tax return   A partnership must file an annual information return to report the income, deductions, gains, losses, etc. How to amend 2008 tax return , from its operations, but it does not pay income tax. How to amend 2008 tax return Instead, it “passes through” any profits or losses to its partners. How to amend 2008 tax return Each partner includes his or her share of the partnership's items on his or her tax return. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information on partnerships, see Publication 541, Partnerships. How to amend 2008 tax return Husband and wife business. How to amend 2008 tax return   If you and your spouse jointly own and operate an unincorporated business and share in the profits and losses, you are partners in a partnership, whether or not you have a formal partnership agreement. How to amend 2008 tax return Do not use Schedule C or C-EZ. How to amend 2008 tax return Instead, file Form 1065, U. How to amend 2008 tax return S. How to amend 2008 tax return Return of Partnership Income. How to amend 2008 tax return For more information, see Publication 541, Partnerships. How to amend 2008 tax return Exception—Community Income. How to amend 2008 tax return   If you and your spouse wholly own an unincorporated business as community property under the community property laws of a state, foreign country, or U. How to amend 2008 tax return S. How to amend 2008 tax return possession, you can treat the business either as a sole proprietorship or a partnership. How to amend 2008 tax return The only states with community property laws are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. How to amend 2008 tax return A change in your reporting position will be treated as a conversion of the entity. How to amend 2008 tax return Exception—Qualified joint venture. How to amend 2008 tax return   If you and your spouse each materially participate as the only members of a jointly owned and operated business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership for the tax year. How to amend 2008 tax return Making this election will allow you to avoid the complexity of Form 1065 but still give each spouse credit for social security earnings on which retirement benefits are based. How to amend 2008 tax return For an explanation of "material participation," see the Instructions for Schedule C, line G. How to amend 2008 tax return   To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. How to amend 2008 tax return Each of you must file a separate Schedule C or C-EZ and a separate Schedule SE. How to amend 2008 tax return For more information, see Qualified Joint Venture in the Instructions for Schedule SE. How to amend 2008 tax return Corporations. How to amend 2008 tax return   In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. How to amend 2008 tax return A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. How to amend 2008 tax return A corporation can also take special deductions. How to amend 2008 tax return   The profit of a corporation is taxed to the corporation when earned, and then is taxed to the shareholders when distributed as dividends. How to amend 2008 tax return However, shareholders cannot deduct any loss of the corporation. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information on corporations, see Publication 542, Corporations. How to amend 2008 tax return S corporations. How to amend 2008 tax return   An eligible domestic corporation can avoid double taxation (once to the corporation and again to the shareholders) by electing to be treated as an S corporation. How to amend 2008 tax return Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income. How to amend 2008 tax return On their tax returns, the S corporation's shareholders include their share of the corporation's separately stated items of income, deduction, loss, and credit, and their share of nonseparately stated income or loss. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information on S corporations, see the instructions for Form 2553, Election by a Small Business Corporation, and Form 1120S, U. How to amend 2008 tax return S. How to amend 2008 tax return Income Tax Return for an S Corporation. How to amend 2008 tax return Limited liability company. How to amend 2008 tax return   A limited liability company (LLC) is an entity formed under state law by filing articles of organization as an LLC. How to amend 2008 tax return The members of an LLC are not personally liable for its debts. How to amend 2008 tax return An LLC may be classified for federal income tax purposes as either a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in regulations section 301. How to amend 2008 tax return 7701-3. How to amend 2008 tax return For more information, see the instructions for Form 8832, Entity Classification Election. How to amend 2008 tax return Identification Numbers You must have a taxpayer identification number so the IRS can process your returns. How to amend 2008 tax return The two most common kinds of taxpayer identification numbers are the social security number (SSN) and the employer identification number (EIN). How to amend 2008 tax return An SSN is issued to individuals by the Social Security Administration (SSA) and is in the following format: 000–00–0000. How to amend 2008 tax return An EIN is issued to individuals (sole proprietors), partnerships, corporations, and other entities by the IRS and is in the following format: 00–0000000. How to amend 2008 tax return You must include your taxpayer identification number (SSN or EIN) on all returns and other documents you send to the IRS. How to amend 2008 tax return You must also furnish your number to other persons who use your identification number on any returns or documents they send to the IRS. How to amend 2008 tax return This includes returns or documents filed to report the following information. How to amend 2008 tax return Interest, dividends, royalties, etc. How to amend 2008 tax return , paid to you. How to amend 2008 tax return Any amount paid to you as a dependent care provider. How to amend 2008 tax return Certain other amounts paid to you that total $600 or more for the year. How to amend 2008 tax return If you do not furnish your identification number as required, you may be subject to penalties. How to amend 2008 tax return See Penalties, later. How to amend 2008 tax return Employer Identification Number (EIN) EINs are used to identify the tax accounts of employers, certain sole proprietors, corporations, partnerships, estates, trusts, and other entities. How to amend 2008 tax return If you don't already have an EIN, you need to get one if you: Have employees, Have a qualified retirement plan, Operate your business as a corporation or partnership, or File returns for: Employment taxes, or Excise taxes. How to amend 2008 tax return Applying for an EIN. How to amend 2008 tax return   You may apply for an EIN: Online—Click on the EIN link at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/businesses/small. How to amend 2008 tax return The EIN is issued immediately once the application information is validated. How to amend 2008 tax return By telephone at 1-800-829-4933. How to amend 2008 tax return By mailing or faxing Form SS-4, Application for Employer Identification Number. How to amend 2008 tax return When to apply. How to amend 2008 tax return   You should apply for an EIN early enough to receive the number by the time you must file a return or statement or make a tax deposit. How to amend 2008 tax return If you apply by mail, file Form SS-4 at least 4 weeks before you need an EIN. How to amend 2008 tax return If you apply by telephone or through the IRS website, you can get an EIN immediately. How to amend 2008 tax return If you apply by fax, you can get an EIN within 4 business days. How to amend 2008 tax return   If you do not receive your EIN by the time a return is due, file your return anyway. How to amend 2008 tax return Write “Applied for” and the date you applied for the number in the space for the EIN. How to amend 2008 tax return Do not use your social security number as a substitute for an EIN on your tax returns. How to amend 2008 tax return More than one EIN. How to amend 2008 tax return   You should have only one EIN. How to amend 2008 tax return If you have more than one EIN and are not sure which to use, contact the Internal Revenue Service Center where you file your return. How to amend 2008 tax return Give the numbers you have, the name and address to which each was assigned, and the address of your main place of business. How to amend 2008 tax return The IRS will tell you which number to use. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information about EINs, see Publication 1635, Understanding Your EIN. How to amend 2008 tax return Payee's Identification Number In the operation of a business, you will probably make certain payments you must report on information returns (discussed later under Information Returns). How to amend 2008 tax return The forms used to report these payments must include the payee's identification number. How to amend 2008 tax return Employee. How to amend 2008 tax return   If you have employees, you must get an SSN from each of them. How to amend 2008 tax return Record the name and SSN of each employee exactly as they are shown on the employee's social security card. How to amend 2008 tax return If the employee's name is not correct as shown on the card, the employee should request a new card from the SSA. How to amend 2008 tax return This may occur, for example, if the employee's name has changed due to marriage or divorce. How to amend 2008 tax return   If your employee does not have an SSN, he or she should file Form SS-5, Application for a Social Security Card, with the SSA. How to amend 2008 tax return This form is available at SSA offices or by calling 1-800-772-1213. How to amend 2008 tax return It is also available from the SSA website at www. How to amend 2008 tax return ssa. How to amend 2008 tax return gov. How to amend 2008 tax return Other payee. How to amend 2008 tax return   If you make payments to someone who is not your employee and you must report the payments on an information return, get that person's SSN. How to amend 2008 tax return If you make reportable payments to an organization, such as a corporation or partnership, you must get its EIN. How to amend 2008 tax return   To get the payee's SSN or EIN, use Form W-9, Request for Taxpayer Identification Number and Certification. How to amend 2008 tax return This form is available from IRS offices or by calling 1-800-829-3676. How to amend 2008 tax return It is also available from the IRS website at IRS. How to amend 2008 tax return gov. How to amend 2008 tax return    If the payee does not provide you with an identification number, you may have to withhold part of the payments as backup withholding. How to amend 2008 tax return For information on backup withholding, see the Form W-9 instructions and the General Instructions for Certain Information Returns. How to amend 2008 tax return Tax Year You must figure your taxable income and file an income tax return based on an annual accounting period called a tax year. How to amend 2008 tax return A tax year is usually 12 consecutive months. How to amend 2008 tax return There are two kinds of tax years. How to amend 2008 tax return Calendar tax year. How to amend 2008 tax return A calendar tax year is 12 consecutive months beginning January 1 and ending December 31. How to amend 2008 tax return Fiscal tax year. How to amend 2008 tax return A fiscal tax year is 12 consecutive months ending on the last day of any month except December. How to amend 2008 tax return A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month. How to amend 2008 tax return If you file your first tax return using the calendar tax year and you later begin business as a sole proprietor, become a partner in a partnership, or become a shareholder in an S corporation, you must continue to use the calendar year unless you get IRS approval to change it or are otherwise allowed to change it without IRS approval. How to amend 2008 tax return You must use a calendar tax year if: You keep no books. How to amend 2008 tax return You have no annual accounting period. How to amend 2008 tax return Your present tax year does not qualify as a fiscal year. How to amend 2008 tax return You are required to use a calendar year by a provision of the Internal Revenue Code or the Income Tax Regulations. How to amend 2008 tax return For more information, see Publication 538, Accounting Periods and Methods. How to amend 2008 tax return First-time filer. How to amend 2008 tax return   If you have never filed an income tax return, you can adopt either a calendar tax year or a fiscal tax year. How to amend 2008 tax return You adopt a tax year by filing your first income tax return using that tax year. How to amend 2008 tax return You have not adopted a tax year if you merely did any of the following. How to amend 2008 tax return Filed an application for an extension of time to file an income tax return. How to amend 2008 tax return Filed an application for an employer identification number. How to amend 2008 tax return Paid estimated taxes for that tax year. How to amend 2008 tax return Changing your tax year. How to amend 2008 tax return   Once you have adopted your tax year, you may have to get IRS approval to change it. How to amend 2008 tax return To get approval, you must file Form 1128, Application To Adopt, Change, or Retain a Tax Year. How to amend 2008 tax return You may have to pay a fee. How to amend 2008 tax return For more information, see Publication 538. How to amend 2008 tax return Accounting Method An accounting method is a set of rules used to determine when and how income and expenses are reported. How to amend 2008 tax return You choose an accounting method for your business when you file your first income tax return. How to amend 2008 tax return There are two basic accounting methods. How to amend 2008 tax return Cash method. How to amend 2008 tax return Under the cash method, you report income in the tax year you receive it. How to amend 2008 tax return You usually deduct or capitalize expenses in the tax year you pay them. How to amend 2008 tax return Accrual method. How to amend 2008 tax return Under an accrual method, you generally report income in the tax year you earn it, even though you may receive payment in a later year. How to amend 2008 tax return You deduct or capitalize expenses in the tax year you incur them, whether or not you pay them that year. How to amend 2008 tax return For other methods, see Publication 538. How to amend 2008 tax return If you need inventories to show income correctly, you must generally use an accrual method of accounting for purchases and sales. How to amend 2008 tax return Inventories include goods held for sale in the normal course of business. How to amend 2008 tax return They also include raw materials and supplies that will physically become a part of merchandise intended for sale. How to amend 2008 tax return Inventories are explained in Publication 538. How to amend 2008 tax return Certain small business taxpayers can use the cash method of accounting and can also account for inventoriable items as materials and supplies that are not incidental. How to amend 2008 tax return For more information, see Publication 538. How to amend 2008 tax return You must use the same accounting method to figure your taxable income and to keep your books. How to amend 2008 tax return Also, you must use an accounting method that clearly shows your income. How to amend 2008 tax return In general, any accounting method that consistently uses accounting principles suitable for your trade or business clearly shows income. How to amend 2008 tax return An accounting method clearly shows income only if it treats all items of gross income and expense the same from year to year. How to amend 2008 tax return More than one business. How to amend 2008 tax return   When you own more than one business, you can use a different accounting method for each business if the method you use for each clearly shows your income. How to amend 2008 tax return You must keep a complete and separate set of books and records for each business. How to amend 2008 tax return Changing your method of accounting. How to amend 2008 tax return   Once you have set up your accounting method, you must generally get IRS approval before you can change to another method. How to amend 2008 tax return A change in accounting method not only includes a change in your overall system of accounting, but also a change in the treatment of any material item. How to amend 2008 tax return For examples of changes that require approval and information on how to get approval for the change, see Publication 538. How to amend 2008 tax return Business Taxes The form of business you operate determines what taxes you must pay and how you pay them. How to amend 2008 tax return The following are the four general kinds of business taxes. How to amend 2008 tax return Income tax. How to amend 2008 tax return Self-employment tax. How to amend 2008 tax return Employment taxes. How to amend 2008 tax return Excise taxes. How to amend 2008 tax return See Table 2 for the forms you file to report these taxes. How to amend 2008 tax return You may want to get Publication 509. How to amend 2008 tax return It has tax calendars that tell you when to file returns and make tax payments. How to amend 2008 tax return Income Tax All businesses except partnerships must file an annual income tax return. How to amend 2008 tax return Partnerships file an information return. How to amend 2008 tax return Which form you use depends on how your business is organized. How to amend 2008 tax return See Table 2 to find out which return you have to file. How to amend 2008 tax return The federal income tax is a pay-as-you-go tax. How to amend 2008 tax return You must pay the tax as you earn or receive income during the year. How to amend 2008 tax return An employee usually has income tax withheld from his or her pay. How to amend 2008 tax return If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. How to amend 2008 tax return If you are not required to make estimated tax payments, you may pay any tax due when you file your return. How to amend 2008 tax return Table 2. How to amend 2008 tax return Which Forms Must I File? IF you are a. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return   THEN you may be liable for. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return   Use Form. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return Sole proprietor   Income tax   1040 and Schedule C 1 or C-EZ (Schedule F 1 for farm business)     Self-employment tax   1040 and Schedule SE     Estimated tax   1040-ES     Employment taxes:         • Social security and Medicare   taxes and income tax   withholding   941 or 944 (943 for farm employees)     • Federal unemployment (FUTA)   tax   940     Excise taxes   See Excise Taxes Partnership   Annual return of income   1065     Employment taxes   Same as sole proprietor     Excise taxes   See Excise Taxes Partner in a partnership (individual)   Income tax   1040 and Schedule E 2     Self-employment tax   1040 and Schedule SE     Estimated tax   1040-ES Corporation or S corporation   Income tax   1120 (corporation) 2  1120S (S corporation) 2     Estimated tax   1120-W (corporation only)     Employment taxes   Same as sole proprietor     Excise taxes   See Excise Taxes S corporation shareholder   Income tax   1040 and Schedule E 2     Estimated tax   1040-ES 1 File a separate schedule for each business. How to amend 2008 tax return 2 Various other schedules may be needed. How to amend 2008 tax return Estimated tax. How to amend 2008 tax return   Generally, you must pay taxes on income, including self-employment tax (discussed next), by making regular payments of estimated tax during the year. How to amend 2008 tax return Sole proprietors, partners, and S corporation shareholders. How to amend 2008 tax return   You generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when you file your return. How to amend 2008 tax return Use Form 1040-ES, Estimated Tax for Individuals, to figure and pay your estimated tax. How to amend 2008 tax return For more information, see Publication 505, Tax Withholding and Estimated Tax. How to amend 2008 tax return Corporations. How to amend 2008 tax return   You generally have to make estimated tax payments for your corporation if you expect it to owe tax of $500 or more when you file its return. How to amend 2008 tax return Use Form 1120-W, Estimated Tax for Corporations, to figure the estimated tax. How to amend 2008 tax return You must deposit the payments as explained later under Depositing Taxes. How to amend 2008 tax return For more information, see Publication 542. How to amend 2008 tax return Self-Employment Tax Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. How to amend 2008 tax return Your payments of SE tax contribute to your coverage under the social security system. How to amend 2008 tax return Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. How to amend 2008 tax return You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies. How to amend 2008 tax return Your net earnings from self-employment were $400 or more. How to amend 2008 tax return You had church employee income of $108. How to amend 2008 tax return 28 or more. How to amend 2008 tax return Use Schedule SE (Form 1040) to figure your SE tax. How to amend 2008 tax return For more information, see Publication 334, Tax Guide for Small Business. How to amend 2008 tax return You can deduct a portion of your SE tax as an adjustment to income on your Form 1040. How to amend 2008 tax return The Social Security Administration (SSA) time limit for posting self-employment income. How to amend 2008 tax return   Generally, the SSA will give you credit only for self-employment income reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. How to amend 2008 tax return If you file your tax return or report a change in your self-employment income after this time limit, the SSA may change its records, but only to remove or reduce the amount. How to amend 2008 tax return The SSA will not change its records to increase your self-employment income. How to amend 2008 tax return Employment Taxes This section briefly discusses the employment taxes you must pay, the forms you must file to report them, and other forms that must be filed when you have employees. How to amend 2008 tax return Employment taxes include the following. How to amend 2008 tax return Social security and Medicare taxes. How to amend 2008 tax return Federal income tax withholding. How to amend 2008 tax return Federal unemployment (FUTA) tax. How to amend 2008 tax return If you have employees, you will need to get Publication 15, Circular E, Employer's Tax Guide. How to amend 2008 tax return If you have agricultural employees, get Publication 51, Circular A, Agricultural Employer's Tax Guide. How to amend 2008 tax return These publications explain your tax responsibilities as an employer. How to amend 2008 tax return If you are not sure whether the people working for you are your employees, see Publication 15-A, Employer's Supplemental Tax Guide. How to amend 2008 tax return That publication has information to help you determine whether an individual is an employee or an independent contractor. How to amend 2008 tax return If you classify an employee as an independent contractor, you can be held liable for employment taxes for that worker plus a penalty. How to amend 2008 tax return An independent contractor is someone who is self-employed. How to amend 2008 tax return Generally, you do not have to withhold or pay any taxes on payments to an independent contractor. How to amend 2008 tax return Federal Income, Social Security, and Medicare Taxes You generally must withhold federal income tax from your employee's wages. How to amend 2008 tax return To figure how much federal income tax to withhold from each wage payment, use the employee's Form W-4 (discussed later under Hiring Employees) and the methods described in Publication 15. How to amend 2008 tax return Social security and Medicare taxes pay for benefits that workers and their families receive under the Federal Insurance Contributions Act (FICA). How to amend 2008 tax return Social security tax pays for benefits under the old-age, survivors, and disability insurance part of FICA. How to amend 2008 tax return Medicare tax pays for benefits under the hospital insurance part of FICA. How to amend 2008 tax return You withhold part of these taxes from your employee's wages and you pay a part yourself. How to amend 2008 tax return To find out how much social security and Medicare tax to withhold and to pay, see Publication 15. How to amend 2008 tax return Which form do I file?   Report these taxes on Form 941, Employer's QUARTERLY Federal Tax Return, or Form 944, Employer's ANNUAL Federal Tax Return. How to amend 2008 tax return (Farm employers use Form 943, Employer's Annual Federal Tax Return for Agricultural Employees. How to amend 2008 tax return ) Federal Unemployment (FUTA) Tax The federal unemployment tax is part of the federal and state program under the Federal Unemployment Tax Act (FUTA) that pays unemployment compensation to workers who lose their jobs. How to amend 2008 tax return You report and pay FUTA tax separately from social security and Medicare taxes and withheld income tax. How to amend 2008 tax return You pay FUTA tax only from your own funds. How to amend 2008 tax return Employees do not pay this tax or have it withheld from their pay. How to amend 2008 tax return Which form do I file?   Report federal unemployment tax on Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. How to amend 2008 tax return See Publication 15 to find out if you can use this form. How to amend 2008 tax return Hiring Employees Have the employees you hire fill out Form I-9 and Form W-4. How to amend 2008 tax return Form I-9. How to amend 2008 tax return   You must verify that each new employee is legally eligible to work in the United States. How to amend 2008 tax return Both you and the employee must complete the U. How to amend 2008 tax return S. How to amend 2008 tax return Citizenship and Immigration Services (USCIS) Form I-9, Employment Eligibility Verification. How to amend 2008 tax return You can get the form from USCIS offices or from the USCIS website at www. How to amend 2008 tax return uscis. How to amend 2008 tax return gov. How to amend 2008 tax return Call the USCIS at 1-800-375-5283 for more information about your responsibilities. How to amend 2008 tax return Form W-4. How to amend 2008 tax return   Each employee must fill out Form W-4, Employee's Withholding Allowance Certificate. How to amend 2008 tax return You will use the filing status and withholding allowances shown on this form to figure the amount of income tax to withhold from your employee's wages. How to amend 2008 tax return For more information, see Publication 15. How to amend 2008 tax return Employees claiming more than 10 withholding allowances. How to amend 2008 tax return   An employer of an employee who claims more than 10 withholding allowances for wages paid can use several methods of withholding. How to amend 2008 tax return See section 16 of Publication 15. How to amend 2008 tax return Form W-2 Wage Reporting After the calendar year is over, you must furnish copies of Form W-2, Wage and Tax Statement, to each employee to whom you paid wages during the year. How to amend 2008 tax return You must also send copies to the Social Security Administration. How to amend 2008 tax return See Information Returns, later, for more information on Form W-2. How to amend 2008 tax return Excise Taxes This section describes the excise taxes you may have to pay and the forms you have to file if you do any of the following. How to amend 2008 tax return Manufacture or sell certain products. How to amend 2008 tax return Operate certain kinds of businesses. How to amend 2008 tax return Use various kinds of equipment, facilities, or products. How to amend 2008 tax return Receive payment for certain services. How to amend 2008 tax return For more information on excise taxes, see Publication 510, Excise Taxes. How to amend 2008 tax return Form 720. How to amend 2008 tax return   The federal excise taxes reported on Form 720, Quarterly Federal Excise Tax Return, consist of several broad categories of taxes, including the following. How to amend 2008 tax return Environmental taxes. How to amend 2008 tax return Communications and air transportation taxes. How to amend 2008 tax return Fuel taxes. How to amend 2008 tax return Tax on the first retail sale of heavy trucks, trailers, and tractors. How to amend 2008 tax return Manufacturers taxes on the sale or use of a variety of different articles. How to amend 2008 tax return Form 2290. How to amend 2008 tax return   There is a federal excise tax on certain trucks, truck tractors, and buses used on public highways. How to amend 2008 tax return The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. How to amend 2008 tax return Report the tax on Form 2290, Heavy Highway Vehicle Use Tax Return. How to amend 2008 tax return For more information, see the instructions for Form 2290. How to amend 2008 tax return Form 730. How to amend 2008 tax return   If you are in the business of accepting wagers or conducting a wagering pool or lottery, you may be liable for the federal excise tax on wagering. How to amend 2008 tax return Use Form 730, Monthly Tax Return for Wagers, to figure the tax on the wagers you receive. How to amend 2008 tax return Form 11-C. How to amend 2008 tax return   Use Form 11-C, Occupational Tax and Registration Return for Wagering, to register for any wagering activity and to pay the federal occupational tax on wagering. How to amend 2008 tax return Depositing Taxes You generally have to deposit employment taxes, certain excise taxes, corporate income tax, and S corporation taxes before you file your return. How to amend 2008 tax return Generally, taxpayers are required to deposit taxes through the Electronic Federal Tax Payment System (EFTPS). How to amend 2008 tax return Any business that has a federal tax obligation and requests a new EIN will automatically be enrolled in EFTPS. How to amend 2008 tax return Through the mail, the business will receive an EFTPS PIN package that contains instructions for activating its EFTPS enrollment. How to amend 2008 tax return Information Returns If you make or receive payments in your business, you may have to report them to the IRS on information returns. How to amend 2008 tax return The IRS compares the payments shown on the information returns with each person's income tax return to see if the payments were included in income. How to amend 2008 tax return You must give a copy of each information return you are required to file to the recipient or payer. How to amend 2008 tax return In addition to the forms described below, you may have to use other returns to report certain kinds of payments or transactions. How to amend 2008 tax return For more details on information returns and when you have to file them, see the General Instructions for Certain Information Returns. How to amend 2008 tax return Form 1099-MISC. How to amend 2008 tax return   Use Form 1099-MISC, Miscellaneous Income, to report certain payments you make in your trade or business. How to amend 2008 tax return These payments include the following items. How to amend 2008 tax return Payments of $600 or more for services performed for your business by people not treated as your employees, such as subcontractors, attorneys, accountants, or directors. How to amend 2008 tax return Rent payments of $600 or more, other than rents paid to real estate agents. How to amend 2008 tax return Prizes and awards of $600 or more that are not for services, such as winnings on TV or radio shows. How to amend 2008 tax return Royalty payments of $10 or more. How to amend 2008 tax return Payments to certain crew members by operators of fishing boats. How to amend 2008 tax return You also use Form 1099-MISC to report your sales of $5,000 or more of consumer goods to a person for resale anywhere other than in a permanent retail establishment. How to amend 2008 tax return Form W-2. How to amend 2008 tax return   You must file Form W-2, Wage and Tax Statement, to report payments to your employees, such as wages, tips, and other compensation, withheld income, social security, and Medicare taxes. How to amend 2008 tax return For more information on what to report on Form W-2, see the Instructions for Forms W-2 and W-3. How to amend 2008 tax return Form 8300. How to amend 2008 tax return   You must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you receive more than $10,000 in cash in one transaction or two or more related business transactions. How to amend 2008 tax return Cash includes U. How to amend 2008 tax return S. How to amend 2008 tax return and foreign coin and currency. How to amend 2008 tax return It also includes certain monetary instruments such as cashier's and traveler's checks and money orders. How to amend 2008 tax return For more information, see Publication 1544, Reporting Cash Payments of Over $10,000 (Received in a Trade or Business). How to amend 2008 tax return Penalties The law provides penalties for not filing returns or paying taxes as required. How to amend 2008 tax return Criminal penalties may be imposed for willful failure to file, tax evasion, or making a false statement. How to amend 2008 tax return Failure to file tax returns. How to amend 2008 tax return   If you do not file your tax return by the due date, you may have to pay a penalty. How to amend 2008 tax return The penalty is based on the tax not paid by the due date. How to amend 2008 tax return See your tax return instructions for more information about this penalty. How to amend 2008 tax return Failure to pay tax. How to amend 2008 tax return   If you do not pay your taxes by the due date, you will have to pay a penalty for each month, or part of a month, that your taxes are not paid. How to amend 2008 tax return For more information, see your tax return instructions. How to amend 2008 tax return Failure to withhold, deposit, or pay taxes. How to amend 2008 tax return   If you do not withhold income, social security, or Medicare taxes from employees, or if you withhold taxes but do not deposit them or pay them to the IRS, you may be subject to a penalty of the unpaid tax, plus interest. How to amend 2008 tax return You may also be subject to penalties if you deposit the taxes late. How to amend 2008 tax return For more information, see Publication 15. How to amend 2008 tax return Failure to follow information reporting requirements. How to amend 2008 tax return   The following penalties apply if you are required to file information returns. How to amend 2008 tax return For more information, see the General Instructions for Certain Information Returns. How to amend 2008 tax return Failure to file information returns. How to amend 2008 tax return A penalty applies if you do not file information returns by the due date, if you do not include all required information, or if you report incorrect information. How to amend 2008 tax return Failure to furnish correct payee statements. How to amend 2008 tax return A penalty applies if you do not furnish a required statement to a payee by the due date, if you do not include all required information, or if you report incorrect information. How to amend 2008 tax return Waiver of penalty. How to amend 2008 tax return   These penalties will not apply if you can show that the failures were due to reasonable cause and not willful neglect. How to amend 2008 tax return   In addition, there is no penalty for failure to include all the required information, or for including incorrect information, on a de minimis number of information returns if you correct the errors by August 1 of the year the returns are due. How to amend 2008 tax return (To be considered de minimis, the number of returns cannot exceed the greater of 10 or ½ of 1% of the total number of returns you are required to file for the year. How to amend 2008 tax return ) Failure to supply taxpayer identification number. How to amend 2008 tax return   If you do not include your taxpayer identification number (SSN or EIN) or the taxpayer identification number of another person where required on a return, statement, or other document, you may be subject to a penalty of $50 for each failure. How to amend 2008 tax return You may also be subject to the $50 penalty if you do not give your taxpayer identification number to another person when it is required on a return, statement, or other document. How to amend 2008 tax return Business Expenses You can deduct business expenses on your income tax return. How to amend 2008 tax return These are the current operating costs of running your business. How to amend 2008 tax return To be deductible, a business expense must be both ordinary and necessary. How to amend 2008 tax return An ordinary expense is one that is common and accepted in your field of business, trade, or profession. How to amend 2008 tax return A necessary expense is one that is helpful and appropriate for your business, trade, or profession. How to amend 2008 tax return An expense does not have to be indispensable to be considered necessary. How to amend 2008 tax return The following are brief explanations of some expenses that are of interest to people starting a business. How to amend 2008 tax return There are many other expenses that you may be able to deduct. How to amend 2008 tax return See your form instructions and Publication 535, Business Expenses. How to amend 2008 tax return Business Start-Up Costs Business start-up costs are the expenses you incur before you actually begin business operations. How to amend 2008 tax return Your business start-up costs will depend on the type of business you are starting. How to amend 2008 tax return They may include costs for advertising, travel, surveys, and training. How to amend 2008 tax return These costs are generally capital expenses. How to amend 2008 tax return You usually recover costs for a particular asset (such as machinery or office equipment) through depreciation (discussed next). How to amend 2008 tax return You can elect to deduct up to $5,000 of business start-up costs and $5,000 of organizational costs paid or incurred after October 22, 2004. How to amend 2008 tax return The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. How to amend 2008 tax return Any remaining cost must be amortized. How to amend 2008 tax return For more information about amortizing start-up and organizational costs, see chapter 7 in Publication 535. How to amend 2008 tax return Depreciation If property you acquire to use in your business has a useful life that extends substantially beyond the year it is placed in service, you generally cannot deduct the entire cost as a business expense in the year you acquire it. How to amend 2008 tax return You must spread the cost over more than one tax year and deduct part of it each year. How to amend 2008 tax return This method of deducting the cost of business property is called depreciation. How to amend 2008 tax return Business property you must depreciate includes the following items. How to amend 2008 tax return Office furniture. How to amend 2008 tax return Buildings. How to amend 2008 tax return Machinery and equipment. How to amend 2008 tax return You can choose to deduct a limited amount of the cost of certain depreciable property in the year you place the property in service. How to amend 2008 tax return This deduction is known as the “section 179 deduction. How to amend 2008 tax return ” For more information about depreciation and the section 179 deduction, see Publication 946, How To Depreciate Property. How to amend 2008 tax return Depreciation must be taken in the year it is allowable. How to amend 2008 tax return Allowable depreciation not taken in a prior year cannot be taken in the current year. How to amend 2008 tax return If you do not deduct the correct depreciation, you may be able to make a correction by filing Form 1040X, Amended U. How to amend 2008 tax return S. How to amend 2008 tax return Individual Income Tax Return, or by changing your accounting method. How to amend 2008 tax return For more information on how to correct depreciation deductions, see chapter 1 in Publication 946. How to amend 2008 tax return Business Use of Your Home To deduct expenses related to the business use of part of your home, you must meet specific requirements. How to amend 2008 tax return Even then, your deduction may be limited. How to amend 2008 tax return To qualify to claim expenses for business use of your home, you must meet both the following tests. How to amend 2008 tax return Your use of the business part of your home must be: Exclusive (however, see Exceptions to exclusive use, later), Regular, For your trade or business, AND The business part of your home must be one of the following: Your principal place of business (defined later), A place where you meet or deal with patients, clients, or customers in the normal course of your trade or business, or A separate structure (not attached to your home) you use in connection with your trade or business. How to amend 2008 tax return Exclusive use. How to amend 2008 tax return   To qualify under the exclusive use test, you must use a specific area of your home only for your trade or business. How to amend 2008 tax return The area used for business can be a room or other separately identifiable space. How to amend 2008 tax return The space does not need to be marked off by a permanent partition. How to amend 2008 tax return   You do not meet the requirements of the exclusive use test if you use the area in question both for business and for personal purposes. How to amend 2008 tax return Exceptions to exclusive use. How to amend 2008 tax return   You do not have to meet the exclusive use test if either of the following applies. How to amend 2008 tax return You use part of your home for the storage of inventory or product samples. How to amend 2008 tax return You use part of your home as a daycare facility. How to amend 2008 tax return For an explanation of these exceptions, see Publication 587, Business Use of Your Home (Including Use by Daycare Providers). How to amend 2008 tax return Principal place of business. How to amend 2008 tax return   Your home office will qualify as your principal place of business for deducting expenses for its use if you meet the following requirements. How to amend 2008 tax return You use it exclusively and regularly for administrative or management activities of your trade or business. How to amend 2008 tax return You have no other fixed location where you conduct substantial administrative or management activities of your trade or business. How to amend 2008 tax return   Alternatively, if you use your home exclusively and regularly for your business, but your home office does not qualify as your principal place of business based on the previous rules, you determine your principal place of business based on the following factors. How to amend 2008 tax return The relative importance of the activities performed at each location. How to amend 2008 tax return If the relative importance factor does not determine your principal place of business, the time spent at each location. How to amend 2008 tax return    If, after considering your business locations, your home cannot be identified as your principal place of business, you cannot deduct home office expenses. How to amend 2008 tax return However, for other ways to qualify to deduct home office expenses, see Publication 587. How to amend 2008 tax return Which form do I file?   If you file Schedule C (Form 1040), use Form 8829, Expenses for Business Use of Your Home, to figure your deduction. How to amend 2008 tax return If you file Schedule F (Form 1040) or you are a partner, you can use the worksheet in Publication 587. How to amend 2008 tax return More information. How to amend 2008 tax return   For more information about business use of your home, see Publication 587. How to amend 2008 tax return Car and Truck Expenses If you use your car or truck in your business, you can deduct the costs of operating and maintaining it. How to amend 2008 tax return You generally can deduct either your actual expenses or the standard mileage rate. How to amend 2008 tax return Actual expenses. How to amend 2008 tax return   If you deduct actual expenses, you can deduct the cost of the following items: Depreciation Lease payments Registration Garage rent Licenses Repairs Gas Oil Tires Insurance Parking fees Tolls   If you use your vehicle for both business and personal purposes, you must divide your expenses between business and personal use. How to amend 2008 tax return You can divide your expenses based on the miles driven for each purpose. How to amend 2008 tax return Example. How to amend 2008 tax return You are the sole proprietor of a flower shop. How to amend 2008 tax return You drove your van 20,000 miles during the year. How to amend 2008 tax return 16,000 miles were for delivering flowers to customers and 4,000 miles were for personal use. How to amend 2008 tax return You can claim only 80% (16,000 ÷ 20,000) of the cost of operating your van as a business expense. How to amend 2008 tax return Standard mileage rate. How to amend 2008 tax return   Instead of figuring actual expenses, you may be able to use the standard mileage rate to figure the deductible costs of operating your car, van, pickup, or panel truck for business purposes. How to amend 2008 tax return You can use the standard mileage rate for a vehicle you own or lease. How to amend 2008 tax return The standard mileage rate is a specified amount of money you can deduct for each business mile you drive. How to amend 2008 tax return It is announced annually by the IRS. How to amend 2008 tax return To figure your deduction, multiply your business miles by the standard mileage rate for the year. How to amend 2008 tax return    Generally, if you use the standard mileage rate, you cannot deduct your actual expenses. How to amend 2008 tax return However, you may be able to deduct business-related parking fees, tolls, interest on your car loan, and certain state and local taxes. How to amend 2008 tax return Choosing the standard mileage rate. How to amend 2008 tax return   If you want to use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. How to amend 2008 tax return In later years, you can choose to use either the standard mileage rate or actual expenses. How to amend 2008 tax return   If you use the standard mileage rate for a car you lease, you must choose to use it for the entire lease period (including renewals). How to amend 2008 tax return Additional information. How to amend 2008 tax return   For more information about the rules for claiming car and truck expenses, see Publication 463, Travel, Entertainment, Gift, and Car Expenses. How to amend 2008 tax return Recordkeeping This part explains why you must keep records, what kinds of records you must keep, and how to keep them. How to amend 2008 tax return It also explains how long you must keep your records for federal tax purposes. How to amend 2008 tax return A sample recordkeeping system is illustrated at the end of this part. How to amend 2008 tax return Why Keep Records? Everyone in business must keep records. How to amend 2008 tax return Good records will help you do the following. How to amend 2008 tax return Monitor the progress of your business. How to amend 2008 tax return   You need good records to monitor the progress of your business. How to amend 2008 tax return Records can show whether your business is improving, which items are selling, or what changes you need to make. How to amend 2008 tax return Good records can increase the likelihood of business success. How to amend 2008 tax return Prepare your financial statements. How to amend 2008 tax return   You need good records to prepare accurate financial statements. How to amend 2008 tax return These include income (profit and loss) statements and balance sheets. How to amend 2008 tax return These statements can help you in dealing with your bank or creditors and help you manage your business. How to amend 2008 tax return An income statement shows the income and expenses of the business for a given period of time. How to amend 2008 tax return A balance sheet shows the assets, liabilities, and your equity in the business on a given date. How to amend 2008 tax return Identify source of receipts. How to amend 2008 tax return   You will receive money or property from many sources. How to amend 2008 tax return Your records can identify the source of your receipts. How to amend 2008 tax return You need this information to separate business from nonbusiness receipts and taxable from nontaxable income. How to amend 2008 tax return Keep track of deductible expenses. How to amend 2008 tax return   You may forget expenses when you prepare your tax return unless you record them when they occur. How to amend 2008 tax return Prepare your tax returns. How to amend 2008 tax return   You need good records to prepare your tax returns. How to amend 2008 tax return These records must support the income, expenses, and credits you report. How to amend 2008 tax return Generally, these are the same records you use to monitor your business and prepare your financial statements. How to amend 2008 tax return Support items reported on tax returns. How to amend 2008 tax return   You must keep your business records available at all times for inspection by the IRS. How to amend 2008 tax return If the IRS examines any of your tax returns, you may be asked to explain the items reported. How to amend 2008 tax return A complete set of records will speed up the examination. How to amend 2008 tax return Kinds of Records To Keep Except in a few cases, the law does not require any specific kind of records. How to amend 2008 tax return You can choose any recordkeeping system suited to your business that clearly shows your income and expenses. How to amend 2008 tax return The business you are in affects the type of records you need to keep for federal tax purposes. How to amend 2008 tax return You should set up your recordkeeping system using an accounting method that clearly shows your income for your tax year. How to amend 2008 tax return See Accounting Method, earlier. How to amend 2008 tax return If you are in more than one business, you should keep a complete and separate set of records for each business. How to amend 2008 tax return A corporation should keep minutes of board of directors' meetings. How to amend 2008 tax return Your recordkeeping system should include a summary of your business transactions. How to amend 2008 tax return This summary is ordinarily made in your books (for example, accounting journals and ledgers). How to amend 2008 tax return Your books must show your gross income, as well as your deductions and credits. How to amend 2008 tax return For most small businesses, the business checkbook (discussed later) is the main source for entries in the business books. How to amend 2008 tax return In addition, you must keep supporting documents, explained later. How to amend 2008 tax return Electronic records. How to amend 2008 tax return   All requirements that apply to hard copy books and records also apply to electronic storage systems that maintain tax books and records. How to amend 2008 tax return When you replace hard copy books and records, you must maintain the electronic storage systems for as long as they are material to the administration of tax law. How to amend 2008 tax return An electronic storage system is any system for preparing or keeping your records either by electronic imaging or by transfer to an electronic storage media. How to amend 2008 tax return The electronic storage system must index, store, preserve, retrieve and reproduce the electronically stored books and records in legible format. How to amend 2008 tax return All electronic storage systems must provide a complete and accurate record of your data that is accessible to the IRS. How to amend 2008 tax return Electronic storage systems are also subject to the same controls and retention guidelines as those imposed on your original hard copy books and records. How to amend 2008 tax return   The original hard copy books and records may be destroyed provided that the electronic storage system has been tested to establish that the hard copy books and records are being reproduced in compliance with IRS requirements for an electronic storage system and procedures are established to ensure continued compliance with all applicable rules and regulations. How to amend 2008 tax return You still have the responsibility of retaining any other books and records that are required to be retained. How to amend 2008 tax return   The IRS may test your electronic storage system, including the equipment used, indexing methodology, software and retrieval capabilities. How to amend 2008 tax return This test is not considered an examination and the results must be shared with you. How to amend 2008 tax return If your electronic storage system meets the requirements mentioned earlier, you will be in compliance. How to amend 2008 tax return If not, you may be subject to penalties for non-compliance, unless you continue to maintain your original hard copy books and records in a manner that allows you and the IRS to determine your correct tax. How to amend 2008 tax return For details on electronic storage system requirements, see Revenue Procedure 97-22, available in Internal Revenue Bulletin 1997-13. How to amend 2008 tax return Supporting Documents Purchases, sales, payroll, and other transactions you have in your business generate supporting documents. How to amend 2008 tax return Supporting documents include sales slips, paid bills, invoices, receipts, deposit slips, and canceled checks. How to amend 2008 tax return These documents contain information you need to record in your books. How to amend 2008 tax return It is important to keep these documents because they support the entries in your books and on your tax return. How to amend 2008 tax return Keep them in an orderly fashion and in a safe place. How to amend 2008 tax return For instance, organize them by year and type of income or expense. How to amend 2008 tax return Gross receipts. How to amend 2008 tax return   Gross receipts are the income you receive from your business. How to amend 2008 tax return You should keep supporting documents that show the amounts and sources of your gross receipts. How to amend 2008 tax return Documents that show gross receipts include the following. How to amend 2008 tax return Cash register tapes. How to amend 2008 tax return Bank deposit slips. How to amend 2008 tax return Receipt books. How to amend 2008 tax return Invoices. How to amend 2008 tax return Credit card charge slips. How to amend 2008 tax return Forms 1099-MISC. How to amend 2008 tax return Purchases. How to amend 2008 tax return   Purchases are the items you buy and resell to customers. How to amend 2008 tax return If you are a manufacturer or producer, this includes the cost of all raw materials or parts purchased for manufacture into finished products. How to amend 2008 tax return Your supporting documents should show the amount paid and that the amount was for purchases. How to amend 2008 tax return Documents for purchases include the following. How to amend 2008 tax return Canceled checks. How to amend 2008 tax return Cash register tape receipts. How to amend 2008 tax return Credit card sales slips. How to amend 2008 tax return Invoices. How to amend 2008 tax return These records will help you determine the value of your inventory at the end of the year. How to amend 2008 tax return See Publication 538 for information on methods for valuing inventory. How to amend 2008 tax return Expenses. How to amend 2008 tax return   Expenses are the costs you incur (other than purchases) to carry on your business. How to amend 2008 tax return Your supporting documents should show the amount paid and that the amount was for a business expense. How to amend 2008 tax return Documents for expenses include the following. How to amend 2008 tax return Canceled checks. How to amend 2008 tax return Cash register tapes. How to amend 2008 tax return Account statements. How to amend 2008 tax return Credit card sales slips. How to amend 2008 tax return Invoices. How to amend 2008 tax return Petty cash slips for small cash payments. How to amend 2008 tax return    A petty cash fund allows you to make small payments without having to write checks for small amounts. How to amend 2008 tax return Each time you make a payment from this fund, you should make out a petty cash slip and attach it to your receipt as proof of payment. How to amend 2008 tax return Travel, transportation, entertainment, and gift expenses. How to amend 2008 tax return   Specific recordkeeping rules apply to these expenses. How to amend 2008 tax return For more information, see Publication 463. How to amend 2008 tax return Employment taxes. How to amend 2008 tax return   There are specific employment tax records you must keep. How to amend 2008 tax return For a list, see Publication 15. How to amend 2008 tax return Assets. How to amend 2008 tax return   Assets are the property, such as machinery and furniture you own and use in your business. How to amend 2008 tax return You must keep records to verify certain information about your business assets. How to amend 2008 tax return You need records to figure the annual depreciation and the gain or loss when you sell the assets. How to amend 2008 tax return Your records should show the following information. How to amend 2008 tax return When and how you acquired the asset. How to amend 2008 tax return Purchase price. How to amend 2008 tax return Cost of any improvements. How to amend 2008 tax return Section 179 deduction taken. How to amend 2008 tax return Deductions taken for depreciation. How to amend 2008 tax return Deductions taken for casualty losses, such as losses resulting from fires or storms. How to amend 2008 tax return How you used the asset. How to amend 2008 tax return When and how you disposed of the asset. How to amend 2008 tax return Selling price. How to amend 2008 tax return Expenses of sale. How to amend 2008 tax return   The following documents may show this information. How to amend 2008 tax return Purchase and sales invoices. How to amend 2008 tax return Real estate closing statements. How to amend 2008 tax return Canceled checks. How to amend 2008 tax return What if I don't have a canceled check?   If you do not have a canceled check, you may be able to prove payment with certain financial account statements prepared by financial institutions. How to amend 2008 tax return These include account statements prepared for the financial institution by a third party. How to amend 2008 tax return These account statements must be highly legible. How to amend 2008 tax return The following table lists acceptable account statements. How to amend 2008 tax return  IF payment is by. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return THEN the statement must show the. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return Check Check number. How to amend 2008 tax return Amount. How to amend 2008 tax return Payee's name. How to amend 2008 tax return Date the check amount was posted to the account by the financial institution. How to amend 2008 tax return Electronic funds transfer Amount transferred. How to amend 2008 tax return Payee's name. How to amend 2008 tax return Date the transfer was posted to the account by the financial institution. How to amend 2008 tax return Credit card Amount charged. How to amend 2008 tax return Payee's name. How to amend 2008 tax return Transaction date. How to amend 2008 tax return    Proof of payment of an amount, by itself, does not establish you are entitled to a tax deduction. How to amend 2008 tax return You should also keep other documents, such as credit card sales slips and invoices, to show that you also incurred the cost. How to amend 2008 tax return Recording Business Transactions A good recordkeeping system includes a summary of your business transactions. How to amend 2008 tax return (Your business transactions are shown on the supporting documents just discussed. How to amend 2008 tax return ) Business transactions are ordinarily summarized in books called journals and ledgers. How to amend 2008 tax return You can buy them at your local stationery or office supply store. How to amend 2008 tax return A journal is a book where you record each business transaction shown on your supporting documents. How to amend 2008 tax return You may have to keep separate journals for transactions that occur frequently. How to amend 2008 tax return A ledger is a book that contains the totals from all of your journals. How to amend 2008 tax return It is organized into different accounts. How to amend 2008 tax return Whether you keep journals and ledgers and how you keep them depends on the type of business you are in. How to amend 2008 tax return For example, a recordkeeping system for a small business might include the following items. How to amend 2008 tax return Business checkbook. How to amend 2008 tax return Daily summary of cash receipts. How to amend 2008 tax return Monthly summary of cash receipts. How to amend 2008 tax return Check disbursements journal. How to amend 2008 tax return Depreciation worksheet. How to amend 2008 tax return Employee compensation record. How to amend 2008 tax return The business checkbook is explained next. How to amend 2008 tax return The other items are illustrated later under Sample Record System. How to amend 2008 tax return The system you use to record business transactions will be more effective if you follow good recordkeeping practices. How to amend 2008 tax return For example, record expenses when they occur, and identify the source of recorded receipts. How to amend 2008 tax return Generally, it is best to record transactions on a daily basis. How to amend 2008 tax return Business checkbook. How to amend 2008 tax return   One of the first things you should do when you start a business is open a business checking account. How to amend 2008 tax return You should keep your business account separate from your personal checking account. How to amend 2008 tax return   The business checkbook is your basic source of information for recording your business expenses. How to amend 2008 tax return You should deposit all daily receipts in your business checking account. How to amend 2008 tax return You should check your account for errors by reconciling it. How to amend 2008 tax return See Reconciling the checking account, later. How to amend 2008 tax return   Consider using a checkbook that allows enough space to identify the source of deposits as business income, personal funds, or loans. How to amend 2008 tax return You should also note on the deposit slip the source of the deposit and keep copies of all slips. How to amend 2008 tax return   You should make all payments by check to document business expenses. How to amend 2008 tax return Write checks payable to yourself only when making withdrawals from your business for personal use. How to amend 2008 tax return Avoid writing checks payable to cash. How to amend 2008 tax return If you must write a check for cash to pay a business expense, include the receipt for the cash payment in your records. How to amend 2008 tax return If you cannot get a receipt for a cash payment, you should make an adequate explanation in your records at the time of payment. How to amend 2008 tax return    Use the business account for business purposes only. How to amend 2008 tax return Indicate the source of deposits and the type of expense in the checkbook. How to amend 2008 tax return Reconciling the checking account. How to amend 2008 tax return   When you receive your bank statement, make sure the statement, your checkbook, and your books agree. How to amend 2008 tax return The statement balance may not agree with the balance in your checkbook and books if the statement: Includes bank charges you did not enter in your books and subtract from your checkbook balance, or Does not include deposits made after the statement date or checks that did not clear your account before the statement date. How to amend 2008 tax return   By reconciling your checking account, you will: Verify how much money you have in the account, Make sure that your checkbook and books reflect all bank charges and the correct balance in the checking account, and Correct any errors in your bank statement, checkbook, and books. How to amend 2008 tax return    You should reconcile your checking account each month. How to amend 2008 tax return     Before you reconcile your monthly bank statement, check your own figures. How to amend 2008 tax return Begin with the balance shown in your checkbook at the end of the previous month. How to amend 2008 tax return To this balance, add the total cash deposited during the month and subtract the total cash disbursements. How to amend 2008 tax return   After checking your figures, the result should agree with your checkbook balance at the end of the month. How to amend 2008 tax return If the result does not agree, you may have made an error in recording a check or deposit. How to amend 2008 tax return You can find the error by doing the following. How to amend 2008 tax return Adding the amounts on your check stubs and comparing that total with the total in the “amount of check” column in your check disbursements journal. How to amend 2008 tax return If the totals do not agree, check the individual amounts to see if an error was made in your check stub record or in the related entry in your check disbursements journal. How to amend 2008 tax return Adding the deposit amounts in your checkbook. How to amend 2008 tax return Compare that total with the monthly total in your cash receipt book, if you have one. How to amend 2008 tax return If the totals do not agree, check the individual amounts to find any errors. How to amend 2008 tax return   If your checkbook and journal entries still disagree, then refigure the running balance in your checkbook to make sure additions and subtractions are correct. How to amend 2008 tax return   When your checkbook balance agrees with the balance figured from the journal entries, you may begin reconciling your checkbook with the bank statement. How to amend 2008 tax return Many banks print a reconciliation worksheet on the back of the statement. How to amend 2008 tax return   To reconcile your account, follow these steps. How to amend 2008 tax return Compare the deposits listed on the bank statement with the deposits shown in your checkbook. How to amend 2008 tax return Note all differences in the dollar amounts. How to amend 2008 tax return Compare each canceled check, including both check number and dollar amount, with the entry in your checkbook. How to amend 2008 tax return Note all differences in the dollar amounts. How to amend 2008 tax return Mark the check number in the checkbook as having cleared the bank. How to amend 2008 tax return After accounting for all checks returned by the bank, those not marked in your checkbook are your outstanding checks. How to amend 2008 tax return Prepare a bank reconciliation. How to amend 2008 tax return One is illustrated later under Sample Record System. How to amend 2008 tax return Update your checkbook and journals for items shown on the reconciliation as not recorded (such as service charges) or recorded incorrectly. How to amend 2008 tax return At this point, the adjusted bank statement balance should equal your adjusted checkbook balance. How to amend 2008 tax return If you still have differences, check the previous steps to find the errors. How to amend 2008 tax return   Table 3. How to amend 2008 tax return Period of Limitations IF you. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return   THEN the period is. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return 1. How to amend 2008 tax return Owe additional tax and situations (2), (3), and (4), below, do not apply to you   3 years 2. How to amend 2008 tax return Do not report income that you should report and it is more than 25% of the gross income shown on the return   6 years 3. How to amend 2008 tax return File a fraudulent return   Not limited 4. How to amend 2008 tax return Do not file a return   Not limited 5. How to amend 2008 tax return File a claim for credit or refund after you filed your return   Later of: 3 years or  2 years after tax   was paid 6. How to amend 2008 tax return File a claim for a loss from worthless securities or a bad debt deduction   7 years Bookkeeping System You must decide whether to use a single-entry or a double-entry bookkeeping system. How to amend 2008 tax return The single-entry system of bookkeeping is the simplest to maintain, but it may not be suitable for everyone. How to amend 2008 tax return You may find the double-entry system better because it has built-in checks and balances to assure accuracy and control. How to amend 2008 tax return Single-entry. How to amend 2008 tax return   A single-entry system is based on the income statement (profit or loss statement). How to amend 2008 tax return It can be a simple and practical system if you are starting a small business. How to amend 2008 tax return The system records the flow of income and expenses through the use of: A daily summary of cash receipts, and Monthly summaries of cash receipts and disbursements. How to amend 2008 tax return Double-entry. How to amend 2008 tax return   A double-entry bookkeeping system uses journals and ledgers. How to amend 2008 tax return Transactions are first entered in a journal and then posted to ledger accounts. How to amend 2008 tax return These accounts show income, expenses, assets (property a business owns), liabilities (debts of a business), and net worth (excess of assets over liabilities). How to amend 2008 tax return You close income and expense accounts at the end of each tax year. How to amend 2008 tax return You keep asset, liability, and net worth accounts open on a permanent basis. How to amend 2008 tax return   In the double-entry system, each account has a left side for debits and a right side for credits. How to amend 2008 tax return It is self-balancing because you record every transaction as a debit entry in one account and as a credit entry in another. How to amend 2008 tax return   Under this system, the total debits must equal the total credits after you post the journal entries to the ledger accounts. How to amend 2008 tax return If the amounts do not balance, you have made an error and you must find and correct it. How to amend 2008 tax return   An example of a journal entry exhibiting a payment of rent in October is shown next. How to amend 2008 tax return General Journal Date Description of Entry Debit  Credit Oct. How to amend 2008 tax return 5 Rent expense 780. How to amend 2008 tax return 00     Cash   780. How to amend 2008 tax return 00                 Computerized System There are computer software packages you can use for recordkeeping. How to amend 2008 tax return They can be purchased in many retail stores. How to amend 2008 tax return These packages are very helpful and relatively easy to use; they require very little knowledge of bookkeeping and accounting. How to amend 2008 tax return If you use a computerized system, you must be able to produce sufficient legible records to support and verify entries made on your return and determine your correct tax liability. How to amend 2008 tax return To meet this qualification, the machine-sensible records must reconcile with your books and return. How to amend 2008 tax return These records must provide enough detail to identify the underlying source documents. How to amend 2008 tax return You must also keep all machine-sensible records and a complete description of the computerized portion of your recordkeeping system. How to amend 2008 tax return This documentation must be sufficiently detailed to show all of the following items. How to amend 2008 tax return Functions being performed as the data flows through the system. How to amend 2008 tax return Controls used to ensure accurate and reliable processing. How to amend 2008 tax return Controls used to prevent the unauthorized addition, alteration, or deletion of retained records. How to amend 2008 tax return Charts of accounts and detailed account descriptions. How to amend 2008 tax return See Revenue Procedure 98-25 in Cumulative Bulletin 1998-1 for more information. How to amend 2008 tax return How Long To Keep Records You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. How to amend 2008 tax return Generally, this means you must keep records that support an item of income or deduction on a return until the period of limitations for that return runs out. How to amend 2008 tax return The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax. How to amend 2008 tax return Table 3 contains the periods of limitations that apply to income tax returns. How to amend 2008 tax return Unless otherwise stated, the years refer to the period after the return was filed. How to amend 2008 tax return Returns filed before the due date are treated as filed on the due date. How to amend 2008 tax return Keep copies of your filed tax returns. How to amend 2008 tax return They help in preparing future tax returns and making computations if you file an amended return. How to amend 2008 tax return Employment taxes. How to amend 2008 tax return   If you have employees, you must keep all employment tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later. How to amend 2008 tax return For more information about recordkeeping for employment taxes, see Publication 15. How to amend 2008 tax return Assets. How to amend 2008 tax return   Keep records relating to property until the period of limitations expires for the year in which you dispose of the property in a taxable disposition. How to amend 2008 tax return You must keep these records to figure any depreciation, amortization, or depletion deduction, and to figure your basis for computing gain or loss when you sell or otherwise dispose of the property. How to amend 2008 tax return   Generally, if you received property in a nontaxable exchange, your basis in that property is the same as the basis of the property you gave up, increased by any money you paid. How to amend 2008 tax return You must keep the records on the old property, as well as on the new property, until the period of limitations expires for the year in which you dispose of the new property in a taxable disposition. How to amend 2008 tax return Records for nontax purposes. How to amend 2008 tax return   When your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes. How to amend 2008 tax return For example, your insurance company or creditors may require you to keep them longer than the IRS does. How to amend 2008 tax return Sample Record System This example illustrates a single-entry system used by Henry Brown, who is the sole proprietor of a small automobile body shop. How to amend 2008 tax return Henry uses part-time help, has no inventory of items held for sale, and uses the cash method of accounting. How to amend 2008 tax return These sample records should not be viewed as a recommendation of how to keep your records. How to amend 2008 tax return They are intended only to show how one business keeps its records. How to amend 2008 tax return 1. How to amend 2008 tax return Daily Summary of Cash Receipts This summary is a record of cash sales for the day. How to amend 2008 tax return It accounts for cash at the end of the day over the amount in the Change and Petty Cash Fund at the beginning of the day. How to amend 2008 tax return Henry takes the cash sales entry from his cash register tape. How to amend 2008 tax return If he had no cash register, he would simply total his cash sale slips and any other cash received that day. How to amend 2008 tax return He carries the total receipts shown in this summary for January 3 ($267. How to amend 2008 tax return 80), including cash sales ($263. How to amend 2008 tax return 60) and sales tax ($4. How to amend 2008 tax return 20), to the Monthly Summary of Cash Receipts. How to amend 2008 tax return Petty cash fund. How to amend 2008 tax return   Henry uses a petty cash fund to make small payments without having to write checks for small amounts. How to amend 2008 tax return Each time he makes a payment from this fund, he makes out a petty cash slip and attaches it to his receipt as proof of payment. How to amend 2008 tax return He sets up a fixed amount ($50) in his petty cash fund. How to amend 2008 tax return The total of the unspent petty cash and the amounts on the petty cash slips should equal the fixed amount of the fund. How to amend 2008 tax return When the totals on the petty cash slips approach the fixed amount, he brings the cash in the fund back to the fixed amount by writing a check to “Petty Cash” for the total of the outstanding slips. How to amend 2008 tax return (See the Check Disbursements Journal entry for check number 92. How to amend 2008 tax return ) This restores the fund to its fixed amount of $50. How to amend 2008 tax return He then summarizes the slips and enters them in the proper columns in the monthly check disbursements journal. How to amend 2008 tax return 2. How to amend 2008 tax return Monthly Summary of Cash Receipts This shows the income activity for the month. How to amend 2008 tax return Henry carries the total monthly net sales shown in this summary for January ($4,865. How to amend 2008 tax return 05) to his Annual Summary. How to amend 2008 tax return To figure total monthly net sales, Henry reduces the total monthly receipts by the sales tax imposed on his customers and turned over to the state. How to amend 2008 tax return He cannot take a deduction for sales tax turned over to the state because he only collected the tax. How to amend 2008 tax return He does not include the tax in his income. How to amend 2008 tax return 3. How to amend 2008 tax return Check Disbursements Journal Henry enters checks drawn on the business checking account in the Check Disbursements Journal each day. How to amend 2008 tax return All checks are prenumbered and each check number is listed and accounted for in the column provided in the journal. How to amend 2008 tax return Frequent expenses have their own headings across the sheet. How to amend 2008 tax return He enters in a separate column expenses that require comparatively numerous or large payments each month, such as materials, gross payroll, and rent. How to amend 2008 tax return Under the General Accounts column, he enters small expenses that normally have only one or two monthly payments, such as licenses and postage. How to amend 2008 tax return Henry does not pay personal or nonbusiness expenses by checks drawn on the business account. How to amend 2008 tax return If he did, he would record them in the journal, even though he could not deduct them as business expenses. How to amend 2008 tax return Henry carries the January total of expenses for materials ($1,083. How to amend 2008 tax return 50) to the Annual Summary. How to amend 2008 tax return Similarly, he enters the monthly total of expenses for telephone, truck/auto, etc. How to amend 2008 tax return , in the appropriate columns of that summary. How to amend 2008 tax return 4. How to amend 2008 tax return Employee Compensation Record This record shows the following information. How to amend 2008 tax return The number of hours Henry's employee worked in a pay period. How to amend 2008 tax return The employee's total pay for the period. How to amend 2008 tax return The deductions Henry withheld in figuring the employee's net pay. How to amend 2008 tax return The monthly gross payroll. How to amend 2008 tax return Henry carries the January gross payroll ($520) to the Annual Summary. How to amend 2008 tax return 5. How to amend 2008 tax return Annual Summary This annual summary of monthly cash receipts and expense totals provides the final amounts to enter on Henry's tax return. How to amend 2008 tax return He figures the cash receipts total from the total of monthly cash receipts shown in the Monthly Summary of Cash Receipts. How to amend 2008 tax return He figures the expense totals from the totals of monthly expense items shown in the Check Disbursements Journal. How to amend 2008 tax return As in the journal, he keeps each major expense in a separate column. How to amend 2008 tax return Henry carries the cash receipts total shown in the annual summary ($47,440. How to amend 2008 tax return 9
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The How To Amend 2008 Tax Return

How to amend 2008 tax return Publication 584-B - Main Content Table of Contents How To Use This Workbook Comments and SuggestionsOrdering forms and publications. How to amend 2008 tax return Tax questions. How to amend 2008 tax return How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). How to amend 2008 tax return How To Use This Workbook You can use this workbook by following these five steps. How to amend 2008 tax return Read Publication 547 to learn about the tax rules for casualties, disasters, and thefts. How to amend 2008 tax return Know the definitions of adjusted basis and fair market value, discussed below. How to amend 2008 tax return Fill out Schedules 1 through 6. How to amend 2008 tax return Read the Instructions for Form 4684. How to amend 2008 tax return Fill out Form 4684 using the information you entered in Schedules 1 through 6. How to amend 2008 tax return Use the chart below to find out how to use Schedules 1 through 6 to fill out Form 4684. How to amend 2008 tax return Take what's in each row of. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return And enter it on Form 4684. How to amend 2008 tax return . How to amend 2008 tax return . How to amend 2008 tax return Column 1 Line 19 Column 2 Line 20 Column 3 Line 21 Column 4 Line 22 Column 5 Line 23 Column 6 Line 24 Column 7 Line 25 Column 8 Line 26 Column 9 Line 27 Adjusted basis. How to amend 2008 tax return   Adjusted basis usually means original cost plus improvements, minus depreciation allowed or allowable (including any section 179 expense deduction), amortization, depletion, etc. How to amend 2008 tax return If you did not acquire the property by purchasing it, your basis is determined as discussed in Publication 551, Basis of Assets. How to amend 2008 tax return If you inherited the property from someone who died in 2010 and the executor of the decedent's estate made the election to file Form 8939, Allocation of Increase in Basis for Property Received From a Decedent, refer to the information provided by the executor or see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010. How to amend 2008 tax return Fair market value. How to amend 2008 tax return   Fair market value is the price for which you could sell your property to a willing buyer, when neither of you has to sell or buy and both of you know all the relevant facts. How to amend 2008 tax return When filling out Schedules 1 through 6, you need to know the fair market value of the property immediately before and immediately after the disaster or casualty. How to amend 2008 tax return Deduction limits. How to amend 2008 tax return   If your casualty or theft loss involved a home you used for business or rented out, your deductible loss may be limited. How to amend 2008 tax return See the Instructions for Form 4684, Section B. How to amend 2008 tax return If the casualty or theft loss involved property used in a passive activity, see Form 8582, Passive Activity Loss Limitations, and its instructions. How to amend 2008 tax return   The casualty and theft loss deduction for employee property, when added to your job expenses and most other miscellaneous itemized deductions on Schedule A (Form 1040), must be reduced by 2% of your adjusted gross income. How to amend 2008 tax return Employee property is property used in performing services as an employee. How to amend 2008 tax return Comments and Suggestions We welcome your comments about this publication and your suggestions for future editions. How to amend 2008 tax return You can write to us at the following address: Internal Revenue Service Individual Forms and Publications Branch SE:W:CAR:MP:T:I 1111 Constitution Ave. How to amend 2008 tax return NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. How to amend 2008 tax return Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. How to amend 2008 tax return You can email us at taxforms@irs. How to amend 2008 tax return gov. How to amend 2008 tax return Please put “Publications Comment” on the subject line. How to amend 2008 tax return You can also send us comments from www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/formspubs/. How to amend 2008 tax return Select “Comment on Tax Forms and Publications” under “Information about. How to amend 2008 tax return ” Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. How to amend 2008 tax return Ordering forms and publications. How to amend 2008 tax return   Visit www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/formspubs/ to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received. How to amend 2008 tax return Internal Revenue Service 1201 N. How to amend 2008 tax return Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. How to amend 2008 tax return   If you have a tax question, check the information available on IRS. How to amend 2008 tax return gov or call 1-800-829-1040. How to amend 2008 tax return We cannot answer tax questions sent to either of the above addresses. How to amend 2008 tax return How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. How to amend 2008 tax return By selecting the method that is best for you, you will have quick and easy access to tax help. How to amend 2008 tax return Free help with your return. How to amend 2008 tax return   Free help in preparing your return is available nationwide from IRS-certified volunteers. How to amend 2008 tax return The Volunteer Income Tax Assistance (VITA) program is designed to help low-moderate income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. How to amend 2008 tax return Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. How to amend 2008 tax return To find the nearest VITA or TCE site, visit IRS. How to amend 2008 tax return gov or call 1-800-906-9887 or 1-800-829-1040. How to amend 2008 tax return   As part of the TCE program, AARP offers the Tax-Aide counseling program. How to amend 2008 tax return To find the nearest AARP Tax-Aide site, call 1-888-227-7669 or visit AARP's website at www. How to amend 2008 tax return aarp. How to amend 2008 tax return org/money/taxaide. How to amend 2008 tax return   For more information on these programs, go to IRS. How to amend 2008 tax return gov and enter keyword “VITA” in the upper right-hand corner. How to amend 2008 tax return Internet. How to amend 2008 tax return You can access the IRS website at IRS. How to amend 2008 tax return gov 24 hours a day, 7 days a week to: Check the status of your 2011 refund. How to amend 2008 tax return Go to IRS. How to amend 2008 tax return gov and click on Where's My Refund. How to amend 2008 tax return Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. How to amend 2008 tax return If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). How to amend 2008 tax return Have your 2011 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. How to amend 2008 tax return E-file your return. How to amend 2008 tax return Find out about commercial tax preparation and e-file services available free to eligible taxpayers. How to amend 2008 tax return Download forms, including talking tax forms, instructions, and publications. How to amend 2008 tax return Order IRS products online. How to amend 2008 tax return Research your tax questions online. How to amend 2008 tax return Search publications online by topic or keyword. How to amend 2008 tax return Use the online Internal Revenue Code, regulations, or other official guidance. How to amend 2008 tax return View Internal Revenue Bulletins (IRBs) published in the last few years. How to amend 2008 tax return Figure your withholding allowances using the withholding calculator online at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/individuals. How to amend 2008 tax return Determine if Form 6251 must be filed by using our Alternative Minimum Tax (AMT) Assistant available online at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/individuals. How to amend 2008 tax return Sign up to receive local and national tax news by email. How to amend 2008 tax return Get information on starting and operating a small business. How to amend 2008 tax return Phone. How to amend 2008 tax return Many services are available by phone. How to amend 2008 tax return   Ordering forms, instructions, and publications. How to amend 2008 tax return Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, and publications, and prior-year forms and instructions. How to amend 2008 tax return You should receive your order within 10 days. How to amend 2008 tax return Asking tax questions. How to amend 2008 tax return Call the IRS with your tax questions at 1-800-829-1040. How to amend 2008 tax return Solving problems. How to amend 2008 tax return You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. How to amend 2008 tax return An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. How to amend 2008 tax return Call your local Taxpayer Assistance Center for an appointment. How to amend 2008 tax return To find the number, go to www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. How to amend 2008 tax return TTY/TDD equipment. How to amend 2008 tax return If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. How to amend 2008 tax return TeleTax topics. How to amend 2008 tax return Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. How to amend 2008 tax return Refund information. How to amend 2008 tax return You can check the status of your refund on the new IRS phone app. How to amend 2008 tax return Download the free IRS2Go app by visiting the iTunes app store or the Android Marketplace. How to amend 2008 tax return IRS2Go is a new way to provide you with information and tools. How to amend 2008 tax return To check the status of your refund by phone, call 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). How to amend 2008 tax return Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. How to amend 2008 tax return If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). How to amend 2008 tax return Have your 2011 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. How to amend 2008 tax return If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. How to amend 2008 tax return Other refund information. How to amend 2008 tax return To check the status of a prior-year refund or amended return refund, call 1-800-829-1040. How to amend 2008 tax return Evaluating the quality of our telephone services. How to amend 2008 tax return To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. How to amend 2008 tax return One method is for a second IRS representative to listen in on or record random telephone calls. How to amend 2008 tax return Another is to ask some callers to complete a short survey at the end of the call. How to amend 2008 tax return Walk-in. How to amend 2008 tax return Many products and services are available on a walk-in basis. How to amend 2008 tax return   Products. How to amend 2008 tax return You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. How to amend 2008 tax return Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD or photocopy from reproducible proofs. How to amend 2008 tax return Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. How to amend 2008 tax return Services. How to amend 2008 tax return You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. How to amend 2008 tax return An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. How to amend 2008 tax return If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. How to amend 2008 tax return No appointment is necessary—just walk in. How to amend 2008 tax return If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. How to amend 2008 tax return A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. How to amend 2008 tax return If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. How to amend 2008 tax return All other issues will be handled without an appointment. How to amend 2008 tax return To find the number of your local office, go to  www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. How to amend 2008 tax return Mail. How to amend 2008 tax return You can send your order for forms, instructions, and publications to the address below. How to amend 2008 tax return You should receive a response within 10 days after your request is received. How to amend 2008 tax return  Internal Revenue Service 1201 N. How to amend 2008 tax return Mitsubishi Motorway Bloomington, IL 61705-6613 Taxpayer Advocate Service. How to amend 2008 tax return   The Taxpayer Advocate Service (TAS) is your voice at the IRS. How to amend 2008 tax return Our job is to ensure that every taxpayer is treated fairly, and that you know and understand your rights. How to amend 2008 tax return We offer free help to guide you through the often-confusing process of resolving tax problems that you haven’t been able to solve on your own. How to amend 2008 tax return Remember, the worst thing you can do is nothing at all. How to amend 2008 tax return   TAS can help if you can’t resolve your problem with the IRS and: Your problem is causing financial difficulties for you, your family, or your business. How to amend 2008 tax return You face (or your business is facing) an immediate threat of adverse action. How to amend 2008 tax return You have tried repeatedly to contact the IRS but no one has responded, or the IRS has not responded to you by the date promised. How to amend 2008 tax return   If you qualify for our help, we’ll do everything we can to get your problem resolved. How to amend 2008 tax return You will be assigned to one advocate who will be with you at every turn. How to amend 2008 tax return We have offices in every state, the District of Columbia, and Puerto Rico. How to amend 2008 tax return Although TAS is independent within the IRS, our advocates know how to work with the IRS to get your problems resolved. How to amend 2008 tax return And our services are always free. How to amend 2008 tax return   As a taxpayer, you have rights that the IRS must abide by in its dealings with you. How to amend 2008 tax return Our tax toolkit at www. How to amend 2008 tax return TaxpayerAdvocate. How to amend 2008 tax return irs. How to amend 2008 tax return gov can help you understand these rights. How to amend 2008 tax return   If you think TAS might be able to help you, call your local advocate, whose number is in your phone book and on our website at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/advocate. How to amend 2008 tax return You can also call our toll-free number at 1-877-777-4778. How to amend 2008 tax return   TAS also handles large-scale or systemic problems that affect many taxpayers. How to amend 2008 tax return If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/advocate. How to amend 2008 tax return Low Income Taxpayer Clinics (LITCs). How to amend 2008 tax return   Low Income Taxpayer Clinics (LITCs) are independent from the IRS. How to amend 2008 tax return Some clinics serve individuals whose income is below a certain level and who need to resolve a tax problem. How to amend 2008 tax return These clinics provide professional representation before the IRS or in court on audits, appeals, tax collection disputes, and other issues for free or for a small fee. How to amend 2008 tax return Some clinics can provide information about taxpayer rights and responsibilities in many different languages for individuals who speak English as a second language. How to amend 2008 tax return For more information and to find a clinic near you, see the LITC page at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/advocate or IRS Publication 4134, Low Income Taxpayer Clinic List. How to amend 2008 tax return This publication is also available by calling 1-800-829-3676 or at your local IRS office. How to amend 2008 tax return Free tax services. How to amend 2008 tax return   Publication 910, IRS Guide to Free Tax Services, is your guide to IRS services and resources. How to amend 2008 tax return Learn about free tax information from the IRS, including publications, services, and education and assistance programs. How to amend 2008 tax return The publication also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on the telephone. How to amend 2008 tax return The majority of the information and services listed in this publication are available to you free of charge. How to amend 2008 tax return If there is a fee associated with a resource or service, it is listed in the publication. How to amend 2008 tax return   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. How to amend 2008 tax return DVD for tax products. How to amend 2008 tax return You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. How to amend 2008 tax return Prior-year forms, instructions, and publications. How to amend 2008 tax return Tax Map: an electronic research tool and finding aid. How to amend 2008 tax return Tax law frequently asked questions. How to amend 2008 tax return Tax Topics from the IRS telephone response system. How to amend 2008 tax return Internal Revenue Code—Title 26 of the U. How to amend 2008 tax return S. How to amend 2008 tax return Code. How to amend 2008 tax return Links to other Internet based Tax Research Materials. How to amend 2008 tax return Fill-in, print, and save features for most tax forms. How to amend 2008 tax return Internal Revenue Bulletins. How to amend 2008 tax return Toll-free and email technical support. How to amend 2008 tax return Two releases during the year. How to amend 2008 tax return  – The first release will ship the beginning of January 2012. How to amend 2008 tax return  – The final release will ship the beginning of March 2012. How to amend 2008 tax return Purchase the DVD from National Technical Information Service (NTIS) at www. How to amend 2008 tax return irs. How to amend 2008 tax return gov/cdorders for $30 (no handling fee) or call 1-877-233-6767 toll free to buy the DVD for $30 (plus a $6 handling fee). How to amend 2008 tax return Prev  Up  Next   Home   More Online Publications