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

How to ammend taxes 10. How to ammend taxes   Planes de Jubilación, Pensiones y Anualidades Table of Contents Qué Hay de Nuevo Recordatorio IntroductionLa Regla General. How to ammend taxes Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). How to ammend taxes Beneficios de la jubilación del gobierno federal. How to ammend taxes Useful Items - You may want to see: Información GeneralReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. How to ammend taxes Cómo Hacer la Declaración Costo (Inversión en el Contrato) Tributación de Pagos PeriódicosExclusión limitada al costo. How to ammend taxes Exclusión no limitada al costo. How to ammend taxes Método Simplificado Tributación de Pagos no PeriódicosDistribuciones de Suma Global ReinversionesReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. How to ammend taxes Impuestos Adicionales EspecialesImpuesto sobre Distribuciones Prematuras Impuestos sobre Acumulación en Exceso Sobrevivientes y Beneficiarios Qué Hay de Nuevo Para propósitos del impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés), los ingresos netos de inversión no incluyen distribuciones de un plan de jubilación calificado (por ejemplo, planes conforme a la sección 401(a), 403(a), 403(b), 408, 408A o 457(b) del Código de Impuestos Internos). How to ammend taxes Sin embargo, estas distribuciones sí se toman en cuenta al calcular el límite del ingreso bruto ajustado modificado. How to ammend taxes Las distribuciones de un plan de jubilación no calificado se incluyen en los ingresos netos de inversión. How to ammend taxes Vea el Formulario 8960, Net Investment Income Tax – Individuals, Estates, and Trusts (Impuesto sobre los ingresos netos de inversión –personas físicas, patrimonios y fideicomisos), además de sus instrucciones, disponibles en inglés, para más información. How to ammend taxes Recordatorio  Comenzando en el año 2013, La American Taxpayer Relief Act (Ley de Alivio para el Contribuyente Estadounidense) de 2012 ha ampliado las reglas para las reinversiones de planes de jubilación a opciones Roth. How to ammend taxes Conforme a las nuevas disposiciones, más contribuyentes pueden tomar ventaja de esta opción. How to ammend taxes Si desea más información, vea la sección titulada Arreglos de ahorros para la jubilación designados Roth , tema que se explica más adelante. How to ammend taxes Introduction Este capítulo explica el trato tributario de las distribuciones que usted reciba de: Una pensión o anualidad para empleados de un plan calificado, Una jubilación por incapacidad y Una anualidad comercial comprada. How to ammend taxes Lo que no abarca este capítulo. How to ammend taxes   Este capítulo no abarca los siguientes temas: La Regla General. How to ammend taxes   Éste es el método que se utiliza generalmente para determinar el trato tributario de ingresos de pensiones y anualidades de planes no calificados (incluidas las anualidades comerciales). How to ammend taxes Para un plan calificado, generalmente no se puede usar la Regla General a menos que la fecha de inicio de su anualidad sea anterior al 19 de noviembre de 1996. How to ammend taxes Para más información sobre la Regla General, vea la Publicación 939, General Rule for Pensions and Annuities (Regla general para pensiones y anualidades), en inglés. How to ammend taxes Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). How to ammend taxes   La información acerca del trato tributario de las cantidades que reciba de un arreglo IRA se encuentra en el capítulo 17 . How to ammend taxes Beneficios de la jubilación del gobierno federal. How to ammend taxes    Si es jubilado del gobierno federal (jubilación regular, por fases o por incapacidad), consulte la Publicación 721, Tax Guide to U. How to ammend taxes S. How to ammend taxes Civil Service Retirement Benefits (Guía tributaria para beneficios de jubilación del gobierno federal de los Estados Unidos), en inglés. How to ammend taxes La Publicación 721 también contiene la información que necesita si es sobreviviente o beneficiario de un empleado o jubilado federal que haya fallecido. How to ammend taxes Useful Items - You may want to see: Publicación 575 Pension and Annuity Income (Ingreso de pensiones y anualidades), en inglés 721 Tax Guide to U. How to ammend taxes S. How to ammend taxes Civil Service Retirement Benefits (Guía tributaria para beneficios de jubilación del gobierno federal de los Estados Unidos), en inglés 939 General Rule for Pensions and Annuities (Regla general para pensiones y anualidades), en inglés Formulario (e Instrucciones) W-4P Withholding Certificate for Pension or Annuity Payments (Certificado de retenciones para pagos de pensiones o anualidades), en inglés 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. How to ammend taxes (Distribuciones de pensiones, anualidades, planes de jubilación o de participación en las ganancias, arreglos de ahorros para la jubilación, contratos de seguros, etc. How to ammend taxes ), en inglés 4972 Tax on Lump-Sum Distributions (Impuesto sobre distribuciones de suma global), en inglés 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Impuestos adicionales sobre planes calificados (incluidos los arreglos de ahorros para la jubilación) y otras cuentas con beneficios tributarios), en inglés Información General Arreglos de ahorros para la jubilación designados Roth. How to ammend taxes   Un arreglo de ahorros para la jubilación designado Roth es una cuenta aparte creada dentro de un programa calificado de aportaciones a un arreglo Roth que permite a los participantes optar a que la totalidad o parte de sus aplazamientos electivos a un plan 401(k), 403(b) o 457(b) se consideren aportaciones hechas a un arreglo Roth. How to ammend taxes Los aplazamientos electivos que se consideran aportaciones a un arreglo Roth se incluyen en los ingresos. How to ammend taxes Sin embargo, las distribuciones calificadas no se incluyen en los ingresos. How to ammend taxes Vea la Publicación 575, en inglés, para más información. How to ammend taxes Reinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. How to ammend taxes   Si usted es participante en un plan de tipo 401(k), 403(b) o 457(b), es posible que pueda reinvertir fondos de dichos planes en un arreglo de ahorros para la jubilación designado Roth dentro del mismo plan. How to ammend taxes Se tiene que incluir en los ingresos la reinversión de cantidades libres de impuestos. How to ammend taxes Consulte la Publicación 575, en inglés, para más información. How to ammend taxes Más de un programa. How to ammend taxes   Si recibe beneficios de más de un programa bajo un fideicomiso o plan de su empleador, como un plan de pensiones y un plan de participación en las ganancias, es posible que tenga que calcular por separado la parte sujeta a impuestos de cada pensión o contrato de anualidad. How to ammend taxes Su antiguo empleador o el administrador del plan debe poder indicarle si tiene más de un contrato de pensión o anualidad. How to ammend taxes Plan de compensación diferida conforme a la sección 457. How to ammend taxes   Si usted trabaja para el gobierno local o estatal o para una organización exenta de impuestos, podría participar en un plan de compensación diferida conforme a la sección 457. How to ammend taxes Si su plan cumple los requisitos, usted no paga ahora impuestos sobre los sueldos que se difieran bajo el plan ni sobre las utilidades recibidas de las inversiones hechas por el plan con los sueldos diferidos. How to ammend taxes Por lo general, usted paga impuestos sobre las cantidades diferidas en un plan local o estatal que cumpla los requisitos sólo cuando se distribuyen del plan. How to ammend taxes Usted paga impuestos en las cantidades diferidas de un plan de una organización exenta de impuestos cuando éstas son distribuidas o de otra manera están disponibles a usted. How to ammend taxes   Su plan 457(b) puede tener una opción para un arreglo de ahorros para la jubilación designado Roth. How to ammend taxes De ser así, quizás pueda reinvertir cantidades al arreglo de ahorros para la jubilación designado Roth o hacer aportaciones. How to ammend taxes Los aplazamientos electivos a un arreglo de ahorros para la jubilación designado Roth se incluyen en su ingreso. How to ammend taxes Las distribuciones calificadas de un arreglo designado Roth no están sujetas a impuestos. How to ammend taxes   Este capítulo explica el tratamiento tributario de los beneficios de un plan creado al amparo de la sección 457, pero no cubre el trato de las cantidades diferidas. How to ammend taxes Para más información acerca de las cantidades diferidas de planes conforme a la sección 457, vea Retirement Plan Contributions (Aportaciones a un plan de jubilación) bajo Employee Compensation (Compensación del empleado), en la Publicación 525, Taxable and Nontaxable Income (Ingresos tributables y no tributables), en inglés. How to ammend taxes   Para obtener información general acerca de planes de compensación diferida, vea Section 457 Deferred Compensation Plans (Planes de compensación diferida conforme a la sección 457), en la Publicación 575, en inglés. How to ammend taxes Pensiones por incapacidad. How to ammend taxes   Si se jubiló por incapacidad, generalmente tiene que incluir en los ingresos toda pensión por incapacidad que reciba conforme a un plan que pague su empleador. How to ammend taxes Tiene que declarar como salario los pagos por incapacidad sujetos a impuestos en la línea 7 del Formulario 1040 o del Formulario 1040A hasta que alcance la edad mínima de jubilación. How to ammend taxes En general, la edad mínima de jubilación corresponde a la edad en que puede recibir una pensión o anualidad por primera vez si no está incapacitado. How to ammend taxes    Quizás tenga derecho a un crédito tributario si estaba total y permanentemente incapacitado cuando se jubiló. How to ammend taxes Para obtener información sobre el crédito para ancianos o incapacitados, vea el capítulo 33 . How to ammend taxes   A partir del día después de cumplir la edad mínima de jubilación, los pagos que reciba están sujetos a impuestos en calidad de pensión o anualidad. How to ammend taxes Declare los pagos en las líneas 16a y 16b del Formulario 1040 o en las líneas 12a y 12b del Formulario 1040A. How to ammend taxes    Los pagos de incapacidad por lesiones causadas directamente por un ataque terrorista dirigido contra los Estados Unidos (o sus aliados) no se incluyen en los ingresos. How to ammend taxes Para obtener más información acerca de los pagos a sobrevivientes de ataques terroristas, consulte la Publicación 3920, Tax Relief for Victims of Terrorist Attacks (Alivio de impuestos para víctimas de ataques terroristas), en inglés. How to ammend taxes   Para obtener más información sobre cómo declarar pensiones por incapacidad, incluyendo pensiones militares y otras pensiones gubernamentales por incapacidad, consulte el capítulo 5 . How to ammend taxes Funcionarios jubilados del sector de la seguridad pública. How to ammend taxes   Un funcionario jubilado del sector de seguridad pública que reúna los requisitos puede optar por excluir de sus ingresos distribuciones de hasta $3,000 efectuadas directamente de un plan de jubilación del gobierno a un proveedor de seguro de accidente, salud o de cuidado por incapacidad a largo plazo. How to ammend taxes Vea Insurance Premiums for Retired Public Safety Officers (Primas de seguros para funcionarios jubilados del sector de seguridad pública), en la Publicación 575, en inglés, para más información. How to ammend taxes Beneficios de jubilación de empleados ferroviarios. How to ammend taxes   Para fines tributarios, una parte de los beneficios de la jubilación de empleados ferroviarios recibidos se considera beneficios del Seguro Social y otra parte se considera pensión del empleado. How to ammend taxes Para obtener información acerca de los beneficios de jubilación de empleados ferroviarios considerados beneficios del Seguro Social, consulte la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de la jubilación de empleados ferroviarios), en inglés. How to ammend taxes Para obtener información acerca de los beneficios de jubilación de empleados ferroviarios considerados pensión del empleado, consulte Railroad Retirement Benefits (Beneficios de jubilación de empleados ferroviarios) en la Publicación 575, en inglés. How to ammend taxes Retención e impuesto estimado. How to ammend taxes   El pagador del plan de pensiones, participación en las ganancias, bonificación de acciones, anualidad o compensación diferida retendrá impuestos sobre el ingreso correspondiente a las partes sujetas a impuestos de las cantidades que se le han pagado a usted. How to ammend taxes Puede indicarle al pagador la cantidad de la retención a realizar al presentar el Formulario W-4P. How to ammend taxes Si escoge que no le retengan impuestos o si no le retienen suficientes impuestos, tal vez tenga que pagar un impuesto estimado. How to ammend taxes   Si se le paga una distribución con derecho a reinversión, no puede optar por que no le retengan impuestos. How to ammend taxes Generalmente, se le retendrá el 20%, pero no hay retención sobre una reinversión directa de una distribución con derecho a reinversión. How to ammend taxes Consulte Opción de reinversión directa en Reinversiones, más adelante. How to ammend taxes   Para obtener más información, consulte Pensiones y Anualidades bajo Retención de Impuesto para el Año 2014, en el capítulo 4. How to ammend taxes Planes calificados para trabajadores por cuenta propia. How to ammend taxes   En ciertas ocasiones, los planes calificados establecidos por trabajadores por cuenta propia se denominan planes Keogh o H. How to ammend taxes R. How to ammend taxes 10. How to ammend taxes Los planes calificados pueden ser establecidos por propietarios únicos, sociedades colectivas (pero no un socio) y sociedades anónimas. How to ammend taxes Pueden cubrir a personas que trabajen por cuenta propia, como el propietario único o socios, y empleados regulares (de acuerdo con el derecho consuetudinario). How to ammend taxes    Por lo general, las distribuciones de un plan calificado están sujetas a impuestos en su totalidad porque la mayoría de los beneficiarios no tiene una base de costos. How to ammend taxes No obstante, si tiene una inversión (costo) en el plan, sus pagos de pensión o anualidad de un plan calificado se gravan conforme al Método Simplificado. How to ammend taxes Para obtener más información acerca de los planes calificados, consulte la Publicación 560, Retirement Plans for Small Business (Planes de jubilación para pequeños negocios), en inglés. How to ammend taxes Anualidades compradas. How to ammend taxes   Si recibe pagos de pensión o anualidad de un contrato de anualidad de compra privada de una organización comercial, como una compañía de seguros, normalmente tiene que usar la Regla General para calcular la parte exenta de impuestos de cada pago de anualidad. How to ammend taxes Para obtener más información acerca de la Regla General, consulte la Publicación 939, en inglés. How to ammend taxes Asimismo, consulte Variable Annuities (Anualidades variables) en la Publicación 575, en inglés, para las disposiciones especiales que se aplican a estos contratos de anualidad. How to ammend taxes Préstamos. How to ammend taxes   Si toma un préstamo de su plan de pensiones, tiene que tratar el préstamo como una distribución no periódica salvo que se den ciertas excepciones. How to ammend taxes Este trato también le aplica a cualquier préstamo obtenido conforme a un contrato comprado bajo su plan de jubilación y al valor de cualquier parte de su interés en el plan o contrato que ha usado como colateral o que ha asignado. How to ammend taxes Esto significa que tiene que incluir en los ingresos la totalidad o parte de la cantidad obtenida en préstamo. How to ammend taxes Aun si no tiene que tratar el préstamo como una distribución no periódica, en algunas situaciones quizás no pueda deducir los intereses sobre el préstamo. How to ammend taxes Para más detalles, vea Loans Treated as Distributions (Préstamos tratados como distribuciones), en la Publicación 575, en inglés. How to ammend taxes Para obtener más información acerca de la posibilidad de deducción de intereses, vea el capítulo 23 . How to ammend taxes Intercambio exento de impuestos. How to ammend taxes   No se reconocen ganancias ni pérdidas en un intercambio de un contrato de anualidad por otro contrato de anualidad si el asegurado o pensionista sigue siendo el mismo. How to ammend taxes Sin embargo, la ganancia sobre el intercambio de un contrato de anualidad se considera ingresos ordinarios si la ganancia se debe a los intereses acumulados en el contrato y el intercambio del contrato de anualidad es por un seguro de vida o contrato de seguro dotal. How to ammend taxes Consulte Transfers of Annuity Contracts (Traspasos de contratos de anualidad), en la Publicación 575, en inglés, para obtener más información acerca del intercambio de contratos de anualidad. How to ammend taxes Cómo Hacer la Declaración Si presenta el Formulario 1040, declare la anualidad total en la línea 16a y la parte sujeta a impuestos en la línea 16b. How to ammend taxes Si la pensión o anualidad está íntegramente sujeta a impuestos, anótela en la línea 16b; no anote nada en la línea 16a. How to ammend taxes Si presenta el Formulario 1040A, declare su anualidad total en la línea 12a y la parte sujeta a impuestos en la línea 12b. How to ammend taxes Si la pensión o anualidad está íntegramente sujeta a impuestos, anótela en la línea 12b; no anote nada en la línea 12a. How to ammend taxes Más de una anualidad. How to ammend taxes   Si recibe más de una anualidad y al menos una de ellas no está integramente sujeta a impuestos, anote la cantidad total recibida de todas las anualidades en la línea 16a del Formulario 1040 o en la línea 12a del Formulario 1040A. How to ammend taxes Anote la parte sujeta a impuestos en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. How to ammend taxes Si todas las anualidades que usted reciba están integramente sujetas a impuestos, anote la suma de dichas anualidades en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. How to ammend taxes Declaración conjunta. How to ammend taxes   Si presenta una declaración conjunta y usted y su cónyuge reciben, cada uno, una o más pensiones o anualidades, declare el total de las pensiones y anualidades en la línea 16a del Formulario 1040 o en la línea 12a del Formulario 1040A. How to ammend taxes Declare la parte sujeta a impuestos en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. How to ammend taxes Costo (Inversión en el Contrato) Antes de calcular qué parte, si la hay, de una distribución de su pensión o anualidad es tributable, tiene que determinar el costo (su inversión en el contrato) de la pensión o anualidad. How to ammend taxes Su costo total en el plan incluye la prima total, aportaciones y otras cantidades que haya pagado, en fin, todo lo que ha pagado. How to ammend taxes Asimismo, incluye las cantidades que su empleador pagó y que eran tributables para usted al momento de dicho pago. How to ammend taxes El costo no incluye cantidades que haya deducido o excluido de los ingresos. How to ammend taxes De este costo total pagado, reste todo reembolso de primas, descuentos, dividendos, préstamos no reembolsados u otras cantidades exentas de impuestos que haya recibido en la fecha de inicio de la anualidad o en la fecha en que recibió su primer pago, la que ocurra más tarde. How to ammend taxes La fecha de inicio de la anualidad es el primer día del primer período para el cual usted recibe un pago o la fecha en que se fijan las obligaciones del plan, lo que ocurra más tarde. How to ammend taxes Arreglos de ahorros para la jubilación designados Roth. How to ammend taxes   Su costo en estos arreglos se compone de las aportaciones designadas Roth que se incluyeron en sus ingresos como salario sujeto a los requisitos de retención de impuestos correspondientes. How to ammend taxes Su costo también incluye toda inversión en arreglos de ahorros para la jubilación Roth dentro del mismo plan que incluyó en sus ingresos. How to ammend taxes Aportaciones de empleo en el extranjero. How to ammend taxes   Si usted trabajó en un país extranjero y se hicieron aportaciones a su plan de jubilación, se aplican reglas especiales al determinar su costo. How to ammend taxes Consulte Foreign employment contributions (Aportaciones de empleo en el extranjero), bajo el tema Cost (Investment in the Contract) (Costo (Inversión en el contrato)), en inglés, en la Publicación 575, en inglés. How to ammend taxes Tributación de Pagos Periódicos Pagos íntegramente tributables. How to ammend taxes   Generalmente, si no pagó ninguna parte del costo de su pensión o anualidad del empleado y su empleador no retuvo parte del costo de su pago mientras usted trabajaba, las cantidades que recibe cada año son íntegramente tributables. How to ammend taxes Tiene que declararlas en la declaración del impuesto sobre los ingresos. How to ammend taxes Pagos parcialmente tributables. How to ammend taxes   Si pagó parte del costo de su pensión o anualidad, no se gravará la parte de la pensión o anualidad que usted reciba y que represente un rendimiento de su costo. How to ammend taxes El resto de la cantidad que reciba suele ser tributable. How to ammend taxes Debe calcular las partes exentas y no exentas de impuestos de sus pagos de pensiones o anualidades conforme al Método Simplificado o a la Regla General. How to ammend taxes La fecha de inicio de la anualidad determina qué método debe o puede usar. How to ammend taxes   Si la fecha de inicio de la anualidad es posterior al 18 de noviembre de 1996 y sus pagos son de un plan calificado, tiene que usar el Método Simplificado. How to ammend taxes Generalmente, tiene que usar la Regla General si su anualidad es pagada bajo un plan no calificado y usted no puede usar este método si su anualidad se pagó bajo un plan calificado. How to ammend taxes   Si tenía más de una pensión o anualidad parcialmente tributable, calcule por separado la parte exenta y no exenta de impuestos. How to ammend taxes   Si la anualidad se paga en virtud de un plan calificado y la fecha de inicio de la anualidad es posterior al 1 de julio de 1986 y anterior al 19 de noviembre de 1996, puede escoger usar la Regla General o el Método Simplificado. How to ammend taxes Límite de exclusión. How to ammend taxes   La fecha de inicio de la anualidad determina la cantidad total de pagos de anualidad que puede excluir de los ingresos tributables en el transcurso de los años. How to ammend taxes Una vez que determina la fecha de inicio de su anualidad, ésta no cambia. How to ammend taxes Si usted calcula la parte tributable del pago de su anualidad usando la Hoja de Trabajo del Método Simplificado, la fecha de inicio de la anualidad determina el período de recuperación para su costo. How to ammend taxes Este período de recuperación comienza en la fecha de inicio de su anualidad y no se influye por la fecha en que primero completó la hoja de trabajo. How to ammend taxes Exclusión limitada al costo. How to ammend taxes   Si la fecha de inicio de la anualidad es posterior a 1986, la cantidad total del ingreso de anualidades que puede excluir en el transcurso de los años como recuperación del costo no puede ser superior al costo total. How to ammend taxes Todo costo no recuperado en el momento de su muerte (o la muerte del último pensionista) se permite como deducción detallada miscelánea en la declaración final del fallecido. How to ammend taxes Esta deducción no está sujeta al límite del 2% del ingreso bruto ajustado. How to ammend taxes Exclusión no limitada al costo. How to ammend taxes   Si la fecha de inicio de la anualidad es anterior a 1987, puede continuar optando a la exclusión mensual en tanto siga recibiendo su anualidad. How to ammend taxes Si optó por una anualidad conjunta y de sobreviviente, su sobreviviente puede continuar optando a la exclusión del sobreviviente calculada a partir de la fecha de inicio de la anualidad. How to ammend taxes La exclusión total podría ser mayor al costo en el que incurra. How to ammend taxes Método Simplificado Conforme al Método Simplificado, la parte exenta de impuestos de cada pago de la anualidad se calcula dividiendo el costo entre el número total previsto de pagos mensuales. How to ammend taxes Para una anualidad pagada durante la vida de los pensionistas, este número se basa en las edades de los pensionistas en la fecha de inicio de la anualidad y se determina a partir de una tabla. How to ammend taxes Para cualquier otra anualidad, este número corresponde al número de pagos mensuales de la anualidad en virtud del contrato. How to ammend taxes Quién tiene que usar el Método Simplificado. How to ammend taxes   Usted tiene que usar el Método Simplificado si la fecha de inicio de la anualidad es posterior al 18 de noviembre de 1996 y cumple ambos requisitos: Recibe pagos de pensiones o anualidades de un plan calificado del empleado, anualidad calificada del empleado o plan de anualidad con refugio tributario (plan conforme a la sección 403(b)) y En la fecha de inicio de su anualidad, usted tenía menos de 75 de años de edad o tenía derecho a pagos garantizados por menos de 5 años. How to ammend taxes Pagos garantizados. How to ammend taxes   Su contrato de anualidad provee pagos garantizados si un número mínimo de pagos o una cantidad mínima (por ejemplo, la cantidad de su inversión) son pagados, aun si usted y algún pensionista sobreviviente no viven hasta que puedan recibir el mínimo. How to ammend taxes Si la cantidad mínima es inferior a la cantidad total de pagos que usted va a recibir, salvo que fallezca, durante los primeros 5 años posteriores al comienzo de los pagos (calculado omitiendo todos los aumentos en los pagos), tiene derecho a menos de 5 años de pagos garantizados. How to ammend taxes Hoja de Trabajo 10-A. How to ammend taxes Hoja de Trabajo del Método Simplificado para Guillermo Rojas. How to ammend taxes 1. How to ammend taxes Anote el total de pagos de pensión o anualidad recibidos este año. How to ammend taxes Asimismo, sume esta cantidad al total de la línea 16a del Formulario 1040 o de la línea 12a del Formulario 1040A 1. How to ammend taxes 14,400 2. How to ammend taxes Anote su costo en el plan (contrato) en la fecha de inicio de la anualidad más toda exclusión por beneficios en caso de fallecimiento*. How to ammend taxes Vea Costo (Inversión en el Contrato) , anteriormente 2. How to ammend taxes 31,000       Nota: Si la fecha de inicio de la anualidad fue antes del presente año y completó esta hoja de trabajo el año pasado, omita la línea 3 y anote la cantidad de la línea 4 de la hoja de trabajo del año pasado en la línea 4 siguiente (aun si la cantidad de la pensión o anualidad ha cambiado). How to ammend taxes De lo contrario, pase a la línea 3. How to ammend taxes         3. How to ammend taxes Anote el número correspondiente de la Tabla 1, presentada a continuación. How to ammend taxes Sin embargo, si la fecha de inicio de la anualidad fue después de 1997 y los pagos se realizarán durante su vida y la vida de su beneficiario, anote el número correspondiente de la Tabla 2 presentada a continuación 3. How to ammend taxes 310     4. How to ammend taxes Divida la línea 2 entre la cantidad anotada en la línea 3 4. How to ammend taxes 100     5. How to ammend taxes Multiplique la línea 4 por el número de meses durante los que se realizaron los pagos del presente año. How to ammend taxes Si la fecha de inicio de la anualidad fue antes de 1987, anote esta cantidad en la línea 8 más adelante y omita las líneas 6, 7, 10 y 11. How to ammend taxes De lo contrario, pase a la línea 6 . How to ammend taxes 5. How to ammend taxes 1,200     6. How to ammend taxes Anote todas las cantidades recuperadas previamente exentas de impuestos en los años siguientes a 1986. How to ammend taxes Esta cantidad aparece en la línea 10 de la hoja de trabajo del año pasado 6. How to ammend taxes −0−     7. How to ammend taxes Reste la línea 6 de la 2 7. How to ammend taxes 31,000     8. How to ammend taxes De las líneas 5 y 7, anote la cantidad que sea menor 8. How to ammend taxes 1,200 9. How to ammend taxes Cantidad tributable para el año. How to ammend taxes Reste la línea 8 de la línea 1. How to ammend taxes Anote el resultado, pero éste no puede ser menor que cero. How to ammend taxes Asimismo, sume esta cantidad al total de la línea 16b del Formulario 1040 o de la línea 12b del Formulario 1040A 9. How to ammend taxes 13,200   Nota: Si el Formulario 1099-R muestra una cantidad tributable mayor, use la cantidad de la línea 9 en su lugar. How to ammend taxes Si es funcionario jubilado del sector de seguridad pública, vea Insurance Premiums for Retired Public Safety Officers (Primas de Seguros para Funcionarios Jubilados del Sector de Seguridad Pública) en la Publicación 575, en inglés, antes de anotar una cantidad en la declaración de impuestos. How to ammend taxes     10. How to ammend taxes ¿La fecha de inicio de su anualidad fue anterior a 1987? □ Sí. How to ammend taxes NO SIGA. How to ammend taxes No llene el resto de esta hoja de trabajo. How to ammend taxes  ☑ No. How to ammend taxes Sume las líneas 6 y 8. How to ammend taxes El resultado es la cantidad recuperada exenta de impuestos hasta el año 2013 inclusive. How to ammend taxes Necesitará esta cifra si necesita llenar esta hoja de trabajo el año que viene 10. How to ammend taxes 1,200 11. How to ammend taxes Saldo del costo por recuperar. How to ammend taxes Reste la línea 10 de la línea 2. How to ammend taxes Si es cero, no tendrá que llenar esta hoja de trabajo para el año que viene. How to ammend taxes Los pagos que reciba el año próximo normalmente serán tributables en su totalidad 11. How to ammend taxes 29,800 TABLA 1 PARA LA LÍNEA 3 ANTERIOR   Y la fecha de inicio de su anualidad fue: SI la edad en la  fecha de inicio de la anualidad era. How to ammend taxes . How to ammend taxes . How to ammend taxes antes del 19 de noviembre de  1996, anote en la línea 3. How to ammend taxes . How to ammend taxes . How to ammend taxes después del 18 de noviembre de  1996, anote en la línea 3. How to ammend taxes . How to ammend taxes . How to ammend taxes 55 años de edad o menos 300 360 56–60 260 310 61–65 240 260 66–70 170 210 71 años de edad o más 120 160 TABLA 2 PARA LA LÍNEA 3 ANTERIOR SI la suma de las edades  en la fecha de inicio  de la anualidad era. How to ammend taxes . How to ammend taxes . How to ammend taxes   ENTONCES anote en la línea 3. How to ammend taxes . How to ammend taxes . How to ammend taxes 110 o menos   410 111–120   360 121–130   310 131–140   260 141 o más   210 * Una exclusión por beneficios en caso de fallecimiento (hasta $5,000) aplicada a ciertos beneficios recibidos por empleados que fallecieron antes del 21 de agosto de 1996. How to ammend taxes Cómo usar el Método Simplificado. How to ammend taxes    Complete la Hoja de Trabajo del Método Simplificado de la Publicación 575, en inglés, para calcular la anualidad tributable para 2013. How to ammend taxes Anualidad sobre una sola vida. How to ammend taxes    Si la anualidad solamente es pagada durante su vida, utilice la Tabla 1 en la parte inferior de la hoja de trabajo para determinar el número total de pagos mensuales previsto. How to ammend taxes En la línea 3, anote el número correspondiente a su edad en la fecha de inicio de la anualidad. How to ammend taxes Anualidad sobre más de una vida. How to ammend taxes   Si la anualidad es pagada durante la vida de más de una persona, utilice la Tabla 2 en la parte inferior de la hoja de trabajo para determinar el número total de pagos mensuales previsto. How to ammend taxes Anote en la línea 3 el número indicado en la tabla que es correspondiente a la suma de su edad y la del pensionista sobreviviente más joven en la fecha de inicio de la anualidad. How to ammend taxes   Sin embargo, si la fecha de inicio de su anualidad comenzó antes de 1998, no utilice la Tabla 2 y no sume las edades de los pensionistas. How to ammend taxes En vez de hacer eso, debe utilizar la Tabla 1 y anote en la línea 3 el número correspondiente a la edad del pensionista principal en la fecha de inicio de la anualidad. How to ammend taxes    Asegúrese de guardar una copia de la hoja de trabajo completada, ya que le será de utilidad para calcular su anualidad tributable en el año entrante. How to ammend taxes Ejemplo. How to ammend taxes Guillermo Rojas, de 65 años de edad, comenzó a recibir beneficios de jubilación en el año 2013, conforme a una anualidad conjunta y de sobreviviente. How to ammend taxes La fecha de inicio de la anualidad de Guillermo es el 1 de enero del año 2013. How to ammend taxes Los beneficios se pagarán durante la vida conjunta de Guillermo y su esposa Marta, de 65 años de edad. How to ammend taxes Guillermo había aportado $31,000 a un plan calificado y no había recibido distribuciones antes de la fecha de inicio de la anualidad. How to ammend taxes Guillermo recibirá un beneficio de jubilación de $1,200 mensuales y Marta recibirá un beneficio de sobreviviente mensual de $600 tras la muerte de Guillermo. How to ammend taxes Guillermo tiene que utilizar el Método Simplificado para calcular su anualidad tributable porque sus pagos provienen de un plan calificado y tiene menos de 75 años de edad. How to ammend taxes Dado que su anualidad es pagada durante la vida de más de un pensionista, utiliza la suma de su edad y la de Marta y la Tabla 2 que aparece en la parte inferior de la hoja de trabajo para completar la línea 3 de la misma. How to ammend taxes Su hoja de trabajo completada aparece en la Hoja de Trabajo 10-A . How to ammend taxes La cantidad mensual exenta de impuestos de Guillermo es $100 ($31,000 ÷ 310), como se indica en la línea 4 de la hoja de trabajo. How to ammend taxes Al morir Guillermo, si no ha recuperado la totalidad de la inversión de $31,000, Marta también excluirá $100 de su pago mensual de $600. How to ammend taxes La cantidad total de todos los pagos de anualidad recibidos después de haberse efectuado 310 pagos se tiene que incluir en el ingreso bruto. How to ammend taxes Si Guillermo y Marta fallecen antes de que se efectúen los 310 pagos, se permitirá una deducción detallada miscelánea por el costo no recuperado en la declaración del impuesto sobre el ingreso final del último en morir. How to ammend taxes Esta deducción no está sujeta al límite del 2% del ingreso bruto ajustado. How to ammend taxes Quién tiene que usar la Regla General. How to ammend taxes   Se tiene que usar la Regla General si se reciben pagos de pensiones o anualidades de: Un plan no calificado (como una anualidad privada, una anualidad comercial comprada o un plan de empleado no calificado) o Un plan calificado si tiene 75 años de edad o más en la fecha de inicio de su anualidad y sus pagos de anualidad están garantizados por un mínimo de 5 años. How to ammend taxes Anualidad cuya fecha de inicio es anterior al 19 de noviembre de 1996. How to ammend taxes   Si la fecha de inicio de la anualidad es posterior al 1 de julio de 1986 y anterior al 19 de noviembre de 1996, tuvo que utilizar la Regla General para cualquiera de las circunstancias descritas anteriormente. How to ammend taxes También tuvo que usarla para toda anualidad de plazo fijo. How to ammend taxes Si no tuvo que utilizar la Regla General, pudo haber escogido usarla. How to ammend taxes Si la fecha de inicio de la anualidad es anterior al 2 de julio de 1986, tuvo que usar la Regla General, a menos que haya podido usar la Regla de los Tres Años. How to ammend taxes   Si tuvo que usar la Regla General (o escogió usarla), debe continuar usándola cada año que recupere su costo. How to ammend taxes Quién no puede usar la Regla General. How to ammend taxes   No puede usar la Regla General si recibe su pensión o anualidad de un plan calificado y ninguna de las circunstancias descritas anteriormente corresponde a su caso. How to ammend taxes Consulte Quién tiene que usar el Método Simplificado , anteriormente. How to ammend taxes Información adicional. How to ammend taxes   Para obtener información completa acerca del uso de la Regla General, incluidas las tablas actuariales que necesitará utilizar, consulte la Publicación 939, en inglés. How to ammend taxes Tributación de Pagos no Periódicos Las distribuciones no periódicas también se conocen como cantidades que no son recibidas como una anualidad. How to ammend taxes Abarcan todos los pagos que no sean pagos periódicos o distribuciones correctivas. How to ammend taxes Ejemplos de pagos no periódicos son retiros en efectivo, distribuciones de las ganancias de utilidad corriente, ciertos préstamos y el valor de un contrato de anualidad transferido sin consideración completa y adecuada. How to ammend taxes Distribuciones correctivas de aportaciones en exceso hechas a un plan de jubilación. How to ammend taxes   Normalmente, si las aportaciones hechas para usted durante el año a determinados planes de jubilación exceden ciertos límites, usted es responsable de pagar impuestos sobre el excedente. How to ammend taxes Para corregir la cantidad en exceso, es posible que el plan se la devuelva (junto con todos los ingresos devengados sobre el mismo). How to ammend taxes Para información acerca de los límites sobre aportaciones a un plan de jubilación y cómo declarar distribuciones correctivas, vea Retirement Plan Contributions (Aportaciones a un plan de jubilación), bajo Employee Compensation (Compensación del empleado), en la Publicación 525, en inglés. How to ammend taxes Cómo calcular el monto sujeto a impuestos de los pagos que no son periódicos. How to ammend taxes   El método que usted usa para calcular el monto sujeto a impuestos de una distribución no periódica depende de si la misma se hace antes de la fecha de inicio de la anualidad, o si se hace en o después de la fecha de inicio de la anualidad. How to ammend taxes Si se hace la distribución antes de la fecha de inicio de la anualidad, el trato tributario de la misma también depende de si se hace conforme a un plan calificado o no calificado. How to ammend taxes Si se hace conforme a un plan no calificado, su trato tributario dependerá de si le da fin completamente al contrato, si se recibe bajo ciertos seguros de vida o contratos de seguro dotal o si se puede asignar a una cantidad que usted invirtió antes del 14 de agosto de 1982. How to ammend taxes Fecha de inicio de la anualidad. How to ammend taxes   La fecha de inicio de la anualidad es el primer día del primer período para el cual usted recibe un pago de anualidad según estipula el contrato, o la fecha en que la obligación estipulada en el contrato se convierta en obligación fija, la que ocurra más tarde. How to ammend taxes Distribución en la fecha de inicio de la anualidad o después de dicha fecha. How to ammend taxes   Si recibe un pago no periódico procedente de su contrato de anualidad en, o después de, la fecha de inicio de la anualidad, generalmente tiene que incluir la totalidad del mismo en su ingreso bruto. How to ammend taxes Distribución antes de la fecha de inicio de la anualidad. How to ammend taxes   Si recibe una distribución que no sea periódica antes de la fecha de inicio de la anualidad proveniente de un plan de jubilación calificado, generalmente puede asignar sólo una parte de dicha distribución al costo del contrato. How to ammend taxes Excluya del ingreso bruto la parte que asigne al costo. How to ammend taxes Incluya el resto en su ingreso bruto. How to ammend taxes   Si recibe una distribución no periódica antes de la fecha de inicio de la anualidad proveniente de un plan que no sea un plan de jubilación calificado (plan no calificado), por lo general la misma se asigna primero a las ganancias (la parte sujeta a impuestos) y luego al costo del contrato (la parte exenta de impuestos). How to ammend taxes Esta regla de asignación se aplica, por ejemplo, a un contrato de anualidad comercial que haya comprado directamente del emisor. How to ammend taxes    Las distribuciones de los planes no calificados están sujetas al impuesto sobre los ingresos netos de inversión. How to ammend taxes Vea las Instrucciones para el Formulario 8960, disponibles en inglés. How to ammend taxes   Para más información, vea Figuring the Taxable Amount (Cómo calcular el monto tributable), bajo Taxation of Nonperiodic Payments (Tributación de pagos no periódicos), en la Publicación 575, en inglés. How to ammend taxes Distribuciones de Suma Global Esta sección, que abarca el tema de las distribuciones de sumas globales, sólo aplica si el participante del plan nació antes del 2 de enero de 1936. How to ammend taxes Si el participante nació después del 1 de enero de 1936, la cantidad tributable de este pago no periódico se declara tal como se explicó anteriormente. How to ammend taxes Una distribución de suma global es la distribución o el pago, en un año tributario, del saldo total de un participante de un plan, de todos los planes del empleador calificados del mismo tipo (por ejemplo, planes de pensiones, de participación en las ganancias o de bonificación de acciones). How to ammend taxes La distribución de un plan no calificado (como una anualidad comercial de compra privada o un plan de compensación diferida de la sección 457 de un gobierno estatal o local o de una organización exenta de impuestos) no se puede considerar distribución de suma global. How to ammend taxes El saldo total de un participante de un plan no incluye ciertas cantidades a las cuales perdió el derecho a ellas. How to ammend taxes Tampoco incluye las aportaciones voluntarias del empleado que sean deducibles, permitidas por el plan después de 1981 y antes de 1987. How to ammend taxes Para obtener más información acerca de las distribuciones que no se pueden considerar distribuciones de suma global, consulte Distributions that do not qualify (Distribuciones que no reúnen los requisitos), bajo Lump-Sum Distributions (Distribuciones de suma global) en la Publicación 575, en inglés. How to ammend taxes Si recibe una distribución de suma global de un plan de empleado calificado o anualidad de empleado calificada y el participante del plan nació antes del 2 de enero de 1936, tal vez pueda elegir métodos alternos para el cálculo del impuesto sobre la distribución. How to ammend taxes La parte de la participación activa en el plan antes de 1974 puede considerarse ganancia de capital sujeta a una tasa de impuesto del 20%. How to ammend taxes La parte de la participación después de 1973 (y toda parte de la participación antes de 1974 que no declare como ganancia de capital) constituye ingresos ordinarios. How to ammend taxes Tal vez pueda usar la opción de impuesto de 10 años, la cual se explica más adelante, para calcular los impuestos sobre la parte de los ingresos ordinarios. How to ammend taxes Use el Formulario 4972 para calcular el impuesto separado sobre una distribución de suma global mediante los métodos a los que tiene opción. How to ammend taxes El impuesto calculado en el Formulario 4972 se suma al impuesto básico calculado en otros ingresos. How to ammend taxes Esto puede dar origen a un impuesto menor que el que usted pagaría si incluye la cantidad tributable de la distribución como ingresos ordinarios al calcular el impuesto básico. How to ammend taxes Cómo tratar la distribución. How to ammend taxes   Si recibe una distribución de suma global, podría tratar la parte tributable basándose en una de las siguientes opciones: Declare la parte de la distribución de la participación antes de 1974 como ganancia de capital (si reúne los requisitos) y la parte de la participación después de 1973 como ingresos ordinarios. How to ammend taxes Declare la parte de la distribución de la participación antes de 1974 como ganancia de capital (si reúne los requisitos) y use la opción de impuesto de 10 años para calcular los impuestos sobre la parte de la participación después de 1973 (si reúne los requisitos). How to ammend taxes Use la opción de impuesto de 10 años para calcular los impuestos sobre la cantidad tributable total (si reúne los requisitos). How to ammend taxes Reinvierta toda o parte de la distribución. How to ammend taxes Consulte Reinversiones , más adelante. How to ammend taxes Actualmente no se deben impuestos sobre la parte reinvertida. How to ammend taxes Declare toda parte no reinvertida como ingresos ordinarios. How to ammend taxes Declare toda parte tributable de la distribución como ingresos ordinarios en la declaración de impuestos. How to ammend taxes   Las tres primeras opciones se explican en los siguientes párrafos. How to ammend taxes Opción al trato de suma global. How to ammend taxes   Puede decidir usar la opción de impuesto de 10 años o el trato de ganancia de capital solamente una vez después de 1986 para todo participante de un plan. How to ammend taxes Si escoge esta alternativa, no puede optar a ninguno de estos dos tratos para futuras distribuciones destinadas al participante. How to ammend taxes Partes de la distribución sujetas a impuestos y exentas de impuestos. How to ammend taxes    La parte sujeta a impuestos de una distribución de suma global corresponde a las aportaciones del empleador y al ingreso ganado sobre su cuenta. How to ammend taxes Puede recuperar el costo de la suma global y toda revalorización neta no realizada (NUA, por sus siglas en inglés) en los valores bursátiles exentos de impuestos del empleador. How to ammend taxes Costo. How to ammend taxes   En general, su costo es el total de: Las aportaciones al plan no deducibles realizadas por el participante del plan, Los costos tributables del participante del plan de un contrato de seguro de vida ya pagado, Todas las aportaciones del empleador que hayan sido tributables para el participante del plan y Reembolsos de préstamos que hayan sido tributables para el participante del plan. How to ammend taxes Tiene que descontar de este costo las cantidades previamente pagadas exentas de impuestos. How to ammend taxes Revalorización neta no realizada (NUA, por sus siglas en inglés). How to ammend taxes   Por lo general, la NUA en los valores bursátiles del empleador (recuadro 6 del Formulario 1099-R) recibida como parte de una distribución de suma global está exenta de impuestos hasta que usted venda o intercambie los valores bursátiles. How to ammend taxes Para obtener más información, consulte Distributions of employer securities (Distribuciones de valores bursátiles del empleador), bajo Taxation of Nonperiodic Payments (Tributación de pagos no periódicos), en la Publicación 575, en inglés. How to ammend taxes Trato de Ganancias de Capital El trato de ganancias de capital solamente se aplica a la parte tributable de una distribución de suma global originada por la participación en el plan antes de 1974. How to ammend taxes La cantidad tratada como ganancia de capital se grava a una tasa del 20%. How to ammend taxes Puede elegir este trato solamente una vez para un participante de un plan y sólo si éste nació antes del 2 de enero de 1936. How to ammend taxes Complete la Parte II del Formulario 4972 para elegir la opción de ganancia de capital del 20%. How to ammend taxes Para obtener más información, vea Capital Gain Treatment (Trato de ganancias de capital) bajo Lump-Sum Distributions (Distribuciones de suma global), en la Publicación 575, en inglés. How to ammend taxes Opción de Impuesto de 10 Años La opción de impuesto de 10 años es una fórmula especial que se usa para calcular por separado un impuesto sobre la parte de ingresos ordinarios de una distribución de suma global. How to ammend taxes Usted paga el impuesto solamente una vez, para el año en que recibe la distribución, y no durante los siguientes 10 años. How to ammend taxes Puede elegir este trato solamente una vez para un participante de un plan y sólo si éste nació antes del 2 de enero de 1936. How to ammend taxes La parte de ingresos ordinarios de la distribución corresponde a la cantidad que se indica en el recuadro 2a del Formulario 1099-R que le entregó el pagador, menos la cantidad, si la hay, que se indica en el recuadro 3. How to ammend taxes También puede tratar la parte de la ganancia de capital de la distribución (recuadro 3 del Formulario 1099-R) como ingresos ordinarios para la opción de impuesto de 10 años si no elige el trato de ganancias de capital para esa parte. How to ammend taxes Complete la Parte III del Formulario 4972 para elegir la opción de impuesto de 10 años. How to ammend taxes Para calcular el impuesto, tiene que usar la Tasa Impositiva (Tax Rate Schedule) especial que se halla en las instrucciones de la Parte III. How to ammend taxes La Publicación 575, en inglés, muestra cómo completar el Formulario 4972 para calcular el impuesto por separado. How to ammend taxes Reinversiones Si retira dinero en efectivo u otros activos de un plan de jubilación calificado en una distribución con derecho a reinversión, puede diferir el impuesto sobre la distribución al reinvertirla a otro plan de jubilación calificado o arreglo IRA tradicional. How to ammend taxes Para este fin, los siguientes son planes de jubilación calificados: Un plan de empleado calificado. How to ammend taxes Un plan de anualidades de empleado calificado. How to ammend taxes Un plan de anualidades con refugio tributario (plan 403(b)). How to ammend taxes Un plan de compensación diferida de la sección 457 del gobierno estatal o local que reúna los requisitos. How to ammend taxes Distribuciones con derecho a reinversión. How to ammend taxes   Generalmente, una distribución con derecho a reinversión es toda distribución del total, o de alguna parte, del saldo a su favor en un plan de jubilación calificado. How to ammend taxes Para información sobre excepciones a las distribuciones con derecho a reinversión, vea la Publicación 575, en inglés. How to ammend taxes Reinversión de cantidades no tributables. How to ammend taxes   Tal vez usted pueda reinvertir la parte no tributable de una distribución (como sus aportaciones después de impuestos) realizada en otro plan de jubilación calificado que sea un plan de empleado calificado o plan de la sección 403(b), o en un arreglo IRA tradicional o Roth IRA. How to ammend taxes El traspaso se tiene que efectuar mediante una reinversión directa a un plan calificado o a un plan de la sección 403(b) que considere en forma separada las partes tributables y no tributables de la reinversión o a través de una reinversión en un arreglo IRA tradicional o en un arreglo Roth IRA. How to ammend taxes   Si solamente reinvierte parte de una distribución que incluya cantidades tributables y no tributables, la cantidad reinvertida se trata como si proviniera primero de la parte tributable de la distribución. How to ammend taxes   Toda aportación neta de impuestos que reinvierta en su arreglo IRA tradicional forma parte de la base (costo) en sus arreglos IRA. How to ammend taxes Para recuperar la base después de sacar distribuciones de su arreglo IRA, tiene que llenar el Formulario 8606 para el año de la distribución. How to ammend taxes Para más información, vea las Instrucciones para el Formulario 8606, en inglés. How to ammend taxes Opción de reinversión directa. How to ammend taxes   Puede elegir que se pague una parte o el total de una distribución con derecho a reinversión directamente a otro plan calificado que esté autorizado para recibirlas o a un arreglo IRA tradicional o arreglo Roth IRA. How to ammend taxes Si elige una reinversión directa o si se efectúa una reinversión automática, no se retendrán impuestos de ninguna parte de la distribución que se pague directamente al fideicomisario del otro plan. How to ammend taxes Si decide que se le pague la distribución. How to ammend taxes   Si se le paga una distribución con derecho a reinversión, normalmente se retendrá el 20% de la misma para fines del impuesto sobre los ingresos. How to ammend taxes No obstante, se considera que la totalidad de la distribución se le ha pagado aunque en realidad recibe sólo el 80% de la misma. How to ammend taxes Normalmente, tiene que incluir en los ingresos toda parte (incluyendo la parte retenida) que no reinvierta dentro de los 60 días en otro plan de jubilación calificado o en un arreglo IRA tradicional o arreglo Roth IRA. How to ammend taxes (Consulte Pensiones y Anualidades bajo Retención de Impuesto para el Año 2014, en el capítulo 4). How to ammend taxes    Si decide reinvertir una cantidad igual a la distribución antes de la retención, su aportación al nuevo plan o arreglo IRA tiene que incluir otro dinero (por ejemplo, de ahorros o cantidades obtenidas en préstamo) para reemplazar la cantidad retenida. How to ammend taxes Cuándo hacer la reinversión. How to ammend taxes   Generalmente, tiene que efectuar por completo la reinversión de una distribución con derecho a reinversión a más tardar 60 días después del día en que reciba la distribución del plan de su empleador. How to ammend taxes (Si recibe una distribución y durante los 60 días de haberla recibido ésta se convierte en depósito bloqueado de una institución financiera, el plazo de reinversión se prórroga por el período durante el cual la distribución se encuentre en un depósito bloqueado en una institución financiera). How to ammend taxes   El IRS puede retirar el requisito de 60 días si la aplicación de dicho requisito fuera contrario a un trato de equidad o de buena conciencia, como en el caso de un hecho fortuito, desastre u otro evento fuera de un control razonable. How to ammend taxes El administrador de un plan calificado tiene que entregarle una explicación por escrito de sus opciones de distribución dentro de un período razonable antes de realizar una distribución con derecho a reinversión. How to ammend taxes Orden de relaciones domésticas calificadas (QDRO, por sus siglas en inglés). How to ammend taxes   Tal vez pueda reinvertir la totalidad o parte exenta de impuestos de una distribución de un plan de jubilación calificado que reciba conforme a una orden de relaciones domésticas calificadas. How to ammend taxes Si recibe la distribución como cónyuge o ex cónyuge de un empleado (no como beneficiario que no es cónyuge), se aplican a su caso las reglas de reinversión como si usted fuese el empleado. How to ammend taxes Puede reinvertir la distribución del plan en un arreglo IRA tradicional o en otro plan de jubilación que reúna las condiciones. How to ammend taxes Consulte el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés, para obtener más información acerca de los beneficios recibidos conforme a una orden de este tipo. How to ammend taxes Reinversiones por parte del cónyuge sobreviviente. How to ammend taxes   Tal vez pueda reinvertir, exenta de impuestos, la totalidad o parte de una distribución de un plan de jubilación calificado que reciba como cónyuge sobreviviente de un empleado fallecido. How to ammend taxes Las reglas de reinversión se le aplican como si usted fuese el empleado. How to ammend taxes Puede reinvertir una distribución en un plan de jubilación calificado o en un arreglo IRA tradicional o arreglo Roth IRA. How to ammend taxes En el caso de una reinversión en un arreglo Roth IRA, vea Reinversiones en arreglos Roth IRA , más adelante. How to ammend taxes    Una distribución pagada a un beneficiario distinto al cónyuge sobreviviente del empleado no suele ser una distribución con derecho a reinversión. How to ammend taxes No obstante, vea el tema que se presenta a continuación, Reinversiones por parte de un beneficiario que no sea el cónyuge . How to ammend taxes Reinversiones por parte de un beneficiario que no sea el cónyuge. How to ammend taxes   Si es beneficiario designado (que no sea el cónyuge sobreviviente) de un empleado fallecido, quizás pueda reinvertir la totalidad o parte exenta de impuestos de una distribución que reciba de un plan de jubilación calificado del empleado. How to ammend taxes La distribución debe ser un traspaso directo de fideicomisario a fideicomisario a su arreglo IRA tradicional o su arreglo Roth IRA establecido para recibir dicha distribución. How to ammend taxes El traspaso se considerará una distribución con derecho a reinversión y el plan que la recibe se considerará un arreglo IRA heredado. How to ammend taxes Para más información sobre los arreglos IRA heredados, vea el tema titulado What if You Inherit an IRA? (¿Qué ocurre si usted hereda un IRA?), en el capítulo 1 de la Publicación 590, Individual Retirement Arrangements (IRAs) (Arreglos individuales de ahorro para la jubilación (IRA, por sus siglas en inglés)), en inglés. How to ammend taxes Bonos de jubilación. How to ammend taxes   Si rescata bonos de jubilación obtenidos conforme a un plan de compra de bonos calificado, puede reinvertir exentos de impuesto en un arreglo IRA la parte de las ganancias que sea superior a la base (como se explica en la Publicación 590, en inglés) o en un plan de empleador calificado. How to ammend taxes Arreglos de ahorros para la jubilación designados Roth. How to ammend taxes   Puede reinvertir una distribución con derecho a reinversión desde un arreglo designado Roth a otro arreglo designado Roth o a un arreglo Roth IRA. How to ammend taxes Si desea reinvertir la parte de la distribución que no se incluya en los ingresos, tiene que hacer una reinversión directa de la distribución en su totalidad o puede reinvertir la cantidad entera (o cualquier parte de la misma) en un arreglo Roth IRA. How to ammend taxes Para más información sobre las reinversiones de arreglos designados Roth, vea el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés. How to ammend taxes Reinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. How to ammend taxes   Si usted es participante en un plan de tipo 401(k), 403(b) o 457(b), es posible que pueda reinvertir fondos de dichos planes en un arreglo designado Roth dentro del mismo plan. How to ammend taxes Se tiene que incluir en los ingresos la reinversión de cantidades libres de impuestos. How to ammend taxes Vea el tema titulado Designated Roth Accounts (Cuentas designadas Roth), que se encuentra bajo el tema Rollovers (Reinversiones), en la Publicación 575, en inglés, para más información. How to ammend taxes Reinversiones en arreglos Roth IRA. How to ammend taxes   Puede reinvertir distribuciones directamente de un plan de jubilación calificado en un arreglo Roth IRA. How to ammend taxes   Tiene que incluir en los ingresos brutos distribuciones procedentes de un plan de jubilación calificado (que no sea un arreglo designado Roth) que habría estado obligado a incluir en los ingresos si no las hubiera reinvertido en un arreglo Roth IRA. How to ammend taxes No se incluye en los ingresos brutos ninguna parte de una distribución procedente de un plan de jubilación calificado que sea una devolución de aportaciones a dicho plan que estuviesen sujetas a impuestos cuando las hizo. How to ammend taxes Asimismo, no corresponde el impuesto del 10% sobre distribuciones prematuras. How to ammend taxes Información adicional. How to ammend taxes   Para más información sobre las reglas relativas a la reinversión de distribuciones, vea el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés. How to ammend taxes Impuestos Adicionales Especiales Para desalentar el uso de fondos de pensiones para fines que no sean los de la jubilación normal, la ley impone impuestos adicionales sobre distribuciones prematuras de aquellos fondos y en aquellos casos en que los fondos no se retiran a tiempo. How to ammend taxes Por lo general, no estará sujeto a estos impuestos si reinvierte toda distribución prematura que reciba, como se explica anteriormente, y comienza a retirar los fondos a una edad de jubilación normal y en cantidades razonables durante su expectativa de vida. How to ammend taxes Estos impuestos adicionales especiales son impuestos sobre: Distribuciones prematuras y Acumulación en exceso (sin recibir distribuciones mínimas). How to ammend taxes Estos impuestos se explican en las siguientes secciones. How to ammend taxes Si tiene que pagar alguno de estos impuestos, declárelo en el Formulario 5329. How to ammend taxes Sin embargo, no tiene que presentar el Formulario 5329 si adeuda solamente el impuesto sobre distribuciones prematuras y su Formulario 1099-R indica correctamente un “1” en el recuadro 7. How to ammend taxes En su lugar, anote el 10% de la parte tributable de la distribución en la línea 58 del Formulario 1040 y escriba “No” bajo el título “ Other Taxes ” (Otros impuestos) a la izquierda de la línea 58. How to ammend taxes Aun si no adeuda estos impuestos, es posible que tenga que completar el Formulario 5329 y adjuntarlo al Formulario 1040. How to ammend taxes Esto corresponde si cumple una excepción al impuesto sobre distribuciones prematuras, pero el recuadro 7 de su Formulario 1099-R no indica una excepción. How to ammend taxes Impuesto sobre Distribuciones Prematuras La mayoría de las distribuciones (periódicas y no periódicas) de planes de jubilación calificados y contratos de anualidades no calificados pagadas a usted antes de cumplir 59 años y medio de edad está sujeta a un impuesto adicional del 10%. How to ammend taxes Este impuesto se aplica a la parte de la distribución que tiene que incluir en el ingreso bruto. How to ammend taxes Para este fin, un plan de jubilación calificado es: Un plan de empleado calificado, Un plan de anualidades de empleado calificado, Un plan de anualidades con refugio tributario o Un plan de remuneración diferida de la sección 457 del gobierno estatal o local (en la medida en que alguna distribución sea atribuible a las cantidades que recibió el plan en un traspaso directo o reinversión de uno de los otros planes que se indican aquí o de un arreglo IRA). How to ammend taxes Tasa del 5% en ciertas distribuciones prematuras de contratos de anualidad diferida. How to ammend taxes   Si un retiro prematuro de una anualidad diferida está sujeto al impuesto adicional del 10%, en su lugar se podría aplicar una tasa de un 5%. How to ammend taxes La tasa del 5% se aplica a distribuciones conforme a una opción por escrito que estipule un plan de distribución de su participación en el contrato si, para el 1 de marzo de 1986, usted había comenzado a recibir pagos conforme a esa opción. How to ammend taxes En la línea 4 del Formulario 5329, en inglés, multiplique la cantidad de la línea 3 por el 5% en lugar del 10%. How to ammend taxes Adjunte una explicación a su declaración. How to ammend taxes Distribuciones de arreglos Roth IRA reinvertidas en un plan de jubilación que reúne los requisitos y dentro del plazo de cinco años. How to ammend taxes   Si reinvirtió fondos de un plan de jubilación, el cual reúne los requisitos, en un arreglo Roth IRA y recibe una distribución de este arreglo Roth IRA dentro del plazo de cinco años que se inicia en el primer día del año tributario en el que efectuó dicha reinversión, es posible que tenga que pagar el impuesto adicional del 10% sobre distribuciones prematuras. How to ammend taxes Normalmente, paga el impuesto adicional del 10% sobre toda cantidad atribuible a la parte de la reinversión que usted estuviera obligado a incluir en los ingresos. How to ammend taxes Se utiliza el Formulario 5329 para calcular el impuesto adicional. How to ammend taxes Para más información, vea el Formulario 5329 y las instrucciones del mismo. How to ammend taxes Para información sobre distribuciones calificadas de un arreglo Roth IRA, vea Additional Tax on Early Distributions (Impuesto adicional sobre distribuciones prematuras) en el capítulo 2 de la Publicación 590, en inglés. How to ammend taxes Distribuciones de arreglos de ahorros para la jubilación designados Roth asignables a distribuciones de un arreglo para la jubilación Roth efectuadas dentro del plazo de cinco años. How to ammend taxes   Si reinvirtió fondos de un plan de tipo 401(k), 403(b) o 457(b) en un arreglo designado Roth IRA y recibe una distribución de este arreglo designado Roth IRA dentro del plazo de cinco años que se inicia en el primer día del año tributario en el que efectuó dicha reinversión, es posible que tenga que pagar el impuesto adicional del 10% sobre distribuciones prematuras. How to ammend taxes Normalmente, paga el impuesto adicional del 10% sobre toda cantidad atribuible a la parte de la reinversión dentro del mismo plan que usted estuviera obligado a incluir en los ingresos. How to ammend taxes Se utiliza el Formulario 5329 para calcular el impuesto adicional. How to ammend taxes Para más información, vea el Formulario 5329 y las instrucciones del mismo. How to ammend taxes Para información sobre distribuciones calificadas de un arreglo designado Roth IRA, vea Designated Roth accounts (Arreglos Roth IRA designados) bajo Taxation of Periodic Payments (Tributación de pagos periódicos), en la Publicación 575, en inglés. How to ammend taxes Excepciones a los impuestos. How to ammend taxes    Ciertas distribuciones prematuras se excluyen del impuesto sobre dichas distribuciones prematuras. How to ammend taxes Si el pagador sabe que se aplica una excepción a su distribución prematura, el código de distribución “2”, “3” ó “4” debe aparecer en el recuadro 7 del Formulario 1099-R y usted no tiene que declarar la distribución en el Formulario 5329. How to ammend taxes Si corresponde una excepción, pero el código de la distribución “1” (distribución prematura, se desconocen excepciones) aparece en el recuadro 7, tiene que presentar el Formulario 5329. How to ammend taxes Anote en la línea 1 del Formulario 5329 la cantidad tributable de la distribución que aparece en el recuadro 2a de su Formulario 1099-R. How to ammend taxes En la línea 2, anote la cantidad que se puede excluir y el número de la excepción que aparece en las instrucciones del Formulario 5329. How to ammend taxes    Si el código de distribución “1” aparece incorrectamente en el Formulario 1099-R para una distribución recibida cuando tenía 59 años y medio de edad o más, incluya esa distribución en el Formulario 5329. How to ammend taxes Anote el número de la excepción “12” en la línea 2. How to ammend taxes Excepciones generales. How to ammend taxes   El impuesto no se aplica a distribuciones que: Se realizan como parte de una serie de pagos periódicos básicamente iguales (efectuados como mínimo una vez al año) durante su vida (o expectativa de vida) o la vida conjunta (o expectativa de vida conjunta) de usted y de su beneficiario designado (si los pagos provienen de un plan de jubilación calificado, tienen que comenzar después de su retirada del trabajo), Se realizan porque usted se encuentra total y permanentemente incapacitado o Se realizan al momento de la muerte del participante del plan o dueño del contrato o después de la muerte. How to ammend taxes Excepciones adicionales para planes de jubilación calificados. How to ammend taxes   El impuesto no se aplica a distribuciones provenientes de: Un plan de jubilación calificado (que no sea un arreglo IRA) después de su retirada del trabajo durante o después del año en que cumplió 55 años de edad (50 años de edad para empleados calificados del sector de la seguridad pública), Un plan de jubilación calificado (que no sea un arreglo IRA) a un beneficiario alternativo conforme a una orden de relaciones domésticas calificadas, Un plan de jubilación calificado en la medida en que usted tenga gastos médicos deducibles que excedan del 10% (o 7. How to ammend taxes 5% si usted o su cónyuge tiene 65 años de edad o más) de su ingreso bruto ajustado, independientemente de si detalla o no sus deducciones para el año, Un plan de empleador conforme a una opción por escrito que estipule un plan de distribución de la totalidad de su participación si, al 1 de marzo de 1986, usted se había retirado de servicio y había comenzado a recibir pagos conforme a esa opción, Un plan de acciones de propiedad de los empleados en el caso de dividendos de valores bursátiles del empleador administrados por el plan, Un plan de jubilación calificado debido a un embargo del plan por parte del IRS Cuentas de aplazamientos electivos bajo planes 401(k) o 403(b), o planes similares, que sean distribuciones para ciudadanos en reserva militar que reúnen los requisitos o Pagos de anualidades de jubilación por fases efectuados a empleados federales. How to ammend taxes Vea la Publicación 721, disponible en inglés, si desea más información sobre el programa de jubilación por fases. How to ammend taxes Empleados del sector de la seguridad pública que reúnen los requisitos. How to ammend taxes   Si es empleado del sector de la seguridad pública y reúne los requisitos, las distribuciones hechas de un plan de pensiones gubernamental con beneficios definidos no están sujetas al impuesto adicional sobre distribuciones prematuras. How to ammend taxes Se le considera empleado del sector de la seguridad pública que reúne los requisitos si provee protección policial, presta servicios de bombero o servicios médicos de urgencia para un estado o municipio y terminó de prestar servicios (se había separado del servicio) en, o después del, año en que cumplió los 50 años de edad. How to ammend taxes Distribuciones para ciudadanos en reserva militar que reúnen los requisitos. How to ammend taxes   Una distribución para ciudadanos en reserva militar que reúnen los requisitos no está sujeta a impuestos adicionales sobre distribuciones prematuras. How to ammend taxes Una distribución para ciudadanos en reserva militar que reúnen los requisitos es una distribución: (