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Irs 1040ez 2012 Instructions

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Irs 1040ez 2012 Instructions

Irs 1040ez 2012 instructions Publication 510 - Introductory Material Table of Contents What's New Reminders Introduction Useful Items - You may want to see: Excise Taxes Not Covered What's New Medical device excise tax. Irs 1040ez 2012 instructions  The Affordable Care Act (the “Act”) (Public Law 111-148, amended by Public Law 111-152) imposes a 2. Irs 1040ez 2012 instructions 3% (. Irs 1040ez 2012 instructions 023) excise tax on the sale of certain medical devices by the manufacturer, producer, or importer of the device. Irs 1040ez 2012 instructions The tax applies to sales of taxable medical devices after December 31, 2012. Irs 1040ez 2012 instructions See Taxable Medical Devices in chapter 5, later. Irs 1040ez 2012 instructions Tax on seasonal flu vaccines. Irs 1040ez 2012 instructions  Sales of all vaccines against seasonal influenza are now subject to the section 4131 excise tax at the existing rate of $. Irs 1040ez 2012 instructions 75 per dose of taxable vaccine. Irs 1040ez 2012 instructions Previously, only trivalent influenza vaccines were subject to this tax. Irs 1040ez 2012 instructions See Vaccines in chapter 5, later. Irs 1040ez 2012 instructions Patient-centered outcomes research fee. Irs 1040ez 2012 instructions  The Act imposes a fee on issuers of specified health insurance policies (section 4375) and plan sponsors of applicable self-insured health plans (section 4576) to help fund the Patient-Centered Outcomes Research Institute. Irs 1040ez 2012 instructions The fee, required to be reported annually on the 2nd quarter Form 720 and paid by its due date, July 31st, is based on the average number of lives covered under the policy or plan. Irs 1040ez 2012 instructions The fee applies to policy or plan years ending on or after October 1, 2012. Irs 1040ez 2012 instructions See chapter 11, later. Irs 1040ez 2012 instructions Extension of fuel tax credits. Irs 1040ez 2012 instructions  The following section 6426 credits, previously expired on December 31, 2011, are retroactively extended. Irs 1040ez 2012 instructions Biodiesel or renewable diesel mixture credit. Irs 1040ez 2012 instructions Alternative fuel credit. Irs 1040ez 2012 instructions Alternative fuel mixture credit. Irs 1040ez 2012 instructions See Notice 2013–26 (fuel tax credits) on page 984 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2013–18 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb13-18. Irs 1040ez 2012 instructions pdf; also see chapter 2, later. Irs 1040ez 2012 instructions Alternative fuel mixture credit can be claimed on Schedule C (Form 720) only. Irs 1040ez 2012 instructions  For alternative fuel mixtures produced after December 31, 2011, the section 6426 alternative fuel mixture credit can be claimed on Schedule C (Form 720) only, not on Form 4136, Credit for Federal Tax Paid on Fuels, or Schedule 3 (Form 8849), Claim for Refund of Excise Taxes, and only to the extent of your section 4081 taxable fuel liability for gasoline, diesel, and kerosene. Irs 1040ez 2012 instructions See Biodiesel or Renewable Diesel Mixture Credit, Alternative Fuel Credit, and Alternative Fuel Mixture Credit in chapter 2, later. Irs 1040ez 2012 instructions Expiration of alcohol fuel mixture credit. Irs 1040ez 2012 instructions  The section 6426 alcohol fuel mixture credit expired after December 31, 2011. Irs 1040ez 2012 instructions Expiration of alcohol fuels credits. Irs 1040ez 2012 instructions  The section 40 alcohol, alcohol mixture, and small ethanol producer credits expired after December 31, 2011. Irs 1040ez 2012 instructions Second generation biofuel producer credit and excise tax. Irs 1040ez 2012 instructions  The section 40 cellulosic biofuel producer credit was retroactively extended to include fuel sold or used through January 2, 2013. Irs 1040ez 2012 instructions After January 2, 2013, cellulosic biofuel is renamed second generation biofuel, which adds algae-based fuel. Irs 1040ez 2012 instructions The second generation biofuel producer credit is for fuel sold or used after January 2, 2013, and before January 1, 2014. Irs 1040ez 2012 instructions You are liable for an excise tax on each gallon of cellulosic or second generation biofuel at the rate you used to figure the credit if you do not use the fuel for the purposes described under Qualified Cellulosic Biofuel Production or Qualified Second Generation Biofuel Production, later. Irs 1040ez 2012 instructions Report the tax on Form 720. Irs 1040ez 2012 instructions See Cellulosic or Second Generation Biofuel Not Used as Fuel, later; also see Form 6478, Biofuel Producer Credit, for more information. Irs 1040ez 2012 instructions Extension of section 40A biodiesel fuels credit. Irs 1040ez 2012 instructions  The biodiesel fuels credit, previously expired on December 31, 2011, is retroactively extended. Irs 1040ez 2012 instructions Future developments. Irs 1040ez 2012 instructions  The IRS has created a page on IRS. Irs 1040ez 2012 instructions gov that includes information about Publication 510 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub510. Irs 1040ez 2012 instructions Information about any future developments will be posted on that page. Irs 1040ez 2012 instructions Reminders Publication 510 updates. Irs 1040ez 2012 instructions  Publication 510 is not updated annually. Irs 1040ez 2012 instructions Instead, it will be updated only when there are major changes in the tax law. Irs 1040ez 2012 instructions Use of international air travel facilities. Irs 1040ez 2012 instructions  Generally, the tax on the use of international air travel facilities increases annually. Irs 1040ez 2012 instructions See the Instructions for Form 720 for the tax rate. Irs 1040ez 2012 instructions For more information, see Air Transportation Taxes in chapter 4. Irs 1040ez 2012 instructions Aviation fuels for use in foreign trade. Irs 1040ez 2012 instructions  Aviation gasoline and kerosene for use in aviation are exempt from the leaking underground storage tank (LUST) tax. Irs 1040ez 2012 instructions Arrow shafts, tax rate. Irs 1040ez 2012 instructions  Generally, the tax on arrow shafts increases annually. Irs 1040ez 2012 instructions See Form 720 for the tax rate. Irs 1040ez 2012 instructions Disregarded entities and qualified subchapter S subsidiaries. Irs 1040ez 2012 instructions  Qualified subchapter S subsidiaries (QSubs) and eligible single-owner disregarded entities are treated as separate entities for excise tax and reporting purposes. Irs 1040ez 2012 instructions QSubs and eligible single-owner disregarded entities must pay and report excise taxes (other than IRS Nos. Irs 1040ez 2012 instructions 31, 51, and 117), register for most excise tax activities, and claim any refunds, credits, and payments under the entity's employer identification number (EIN). Irs 1040ez 2012 instructions These actions cannot take place under the owner's taxpayer identification number (TIN). Irs 1040ez 2012 instructions Some QSubs and disregarded entities may already have an EIN. Irs 1040ez 2012 instructions However, if you are unsure, please call the IRS Business and Specialty Tax line at 1-800-829-4933. Irs 1040ez 2012 instructions Generally, QSubs and eligible single-owner disregarded entities will continue to be treated as disregarded entities for other federal tax purposes (other than employment taxes). Irs 1040ez 2012 instructions For more information on these regulations, see Treasury Decision (T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions ) 9356, T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9462, and T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9596. Irs 1040ez 2012 instructions You can find T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9356 on page 675 of Internal Revenue Bulletin (I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions ) 2007-39 at  www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb07-39. Irs 1040ez 2012 instructions pdf;  T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9462 on page 504 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2009-42 at  www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb09-42. Irs 1040ez 2012 instructions pdf;  and T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9596 on page 84 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2012-30 at  www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb12-30. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Registration for certain activities. Irs 1040ez 2012 instructions  You are required to be registered for certain excise tax activities, such as blending of gasoline, diesel fuel, or kerosene outside the bulk transfer/terminal system. Irs 1040ez 2012 instructions See the instructions for Form 637 for the list of activities for which you must register. Irs 1040ez 2012 instructions Also see Registration Requirements under Fuel Taxes in chapter 1 for information on registration for activities related to fuel. Irs 1040ez 2012 instructions Each business unit that has, or is required to have, a separate employer identification number must be registered. Irs 1040ez 2012 instructions To apply for registration, complete Form 637 and provide the information requested in its instructions. Irs 1040ez 2012 instructions If your application is approved, you will receive a Letter of Registration showing the activities for which you are registered, the effective date of the registration, and your registration number. Irs 1040ez 2012 instructions A copy of Form 637 is not a Letter of Registration. Irs 1040ez 2012 instructions Photographs of missing children. Irs 1040ez 2012 instructions  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Irs 1040ez 2012 instructions Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Irs 1040ez 2012 instructions You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs 1040ez 2012 instructions Introduction This publication covers the excise taxes for which you may be liable and which are reported on Form 720 and other forms. Irs 1040ez 2012 instructions It also covers fuel tax credits and refunds. Irs 1040ez 2012 instructions For information on fuel credits against income tax (the section 40 credits for the production of cellulosic biofuel and second generation biofuel, and the section 40A credit for biodiesel and renewable diesel used as fuel) see the instructions for Form 6478 and Form 8864, Biodiesel and Renewable Diesel Fuels Credit. Irs 1040ez 2012 instructions Comments and suggestions. Irs 1040ez 2012 instructions   We welcome your comments about this publication and your suggestions for future editions. Irs 1040ez 2012 instructions   You can write to us at the following address: Internal Revenue Service Individual and Specialty Forms and Publications Branch SE:W:CAR:MP:T:I 1111 Constitution Ave. Irs 1040ez 2012 instructions NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs 1040ez 2012 instructions Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs 1040ez 2012 instructions   You can email us at taxforms@irs. Irs 1040ez 2012 instructions gov. Irs 1040ez 2012 instructions Please put “Publications Comment” on the subject line. Irs 1040ez 2012 instructions You can also send us comments from www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/Forms-&-Pubs/More-Information/ and select “Comment on Tax Forms and Publications”. Irs 1040ez 2012 instructions   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Irs 1040ez 2012 instructions Useful Items - You may want to see: Publication 509 Tax Calendars Form (and Instructions) 11-C Occupational Tax and Registration Return for Wagering 637 Application for Registration (For Certain Excise Tax Activities) 720 Quarterly Federal Excise Tax Return 720X Amended Quarterly Federal Excise Tax Return 730 Monthly Tax Return for Wagers 1363 Export Exemption Certificate 2290 Heavy Highway Vehicle Use Tax Return 2290(SP) Declaración del Impuesto sobre el Uso de Vehículos Pesados en las Carreteras 4136 Credit for Federal Tax Paid on Fuels 6197 Gas Guzzler Tax 6478 Biofuel Producer Credit 6627 Environmental Taxes 8849 Claim for Refund of Excise Taxes, and Schedules 1–3, 5, 6, and 8 8864 Biodiesel and Renewable Diesel Fuels Credit Information Returns    Form 720-TO, Terminal Operator Report Form 720-CS, Carrier Summary Report   See How To Get Tax Help in chapter 17 for information about ordering forms and publications. Irs 1040ez 2012 instructions Guidance    You can find Notice 2005-4 (fuel tax guidance) on page 289 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2005-2 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb05-02. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2005-62 (biodiesel and aviation-grade kerosene) on page 443 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2005-35 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb05-35. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2005-80 (LUST, kerosene, claims by credit card issuers, and mechanical dye injection) on page 953 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2005-46 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb05-46. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2006-92 (alternative fuels and alternative fuel mixtures) on page 774 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2006-43 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb06-43. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2008-110 (biodiesel and cellulosic biofuel) on page 1298 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2008-51 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb08-51. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2010-68 (Alaska dyed diesel exemption) on page 576 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2010-44 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb10-44. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2012-27 (fractional aircraft ownership programs fuel surtax) on page 849 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2012-17 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb12-17. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Notice 2013-26 (fuel tax credits) on page 984 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2013-18 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb13-18. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9604 and Notice 2012–77 (medical device tax) on pages 730 and 781, respectively, of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2012-52 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb12-52. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9602 (patient-centered outcomes research fee) on page 746 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2012-52 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb12-52. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Revenue Procedure 2012-41 (inflation adjustments) on page 539 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2012-45 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb12-45. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions T. Irs 1040ez 2012 instructions D. Irs 1040ez 2012 instructions 9621 (indoor tanning services tax) on page 49 of I. Irs 1040ez 2012 instructions R. Irs 1040ez 2012 instructions B. Irs 1040ez 2012 instructions 2013-28 at www. Irs 1040ez 2012 instructions irs. Irs 1040ez 2012 instructions gov/pub/irs-irbs/irb13-28. Irs 1040ez 2012 instructions pdf. Irs 1040ez 2012 instructions Excise Taxes Not Covered In addition to the taxes discussed in this publication, you may have to report certain other excise taxes. Irs 1040ez 2012 instructions For tax forms relating to alcohol, firearms, and tobacco, visit the Alcohol and Tobacco Tax and Trade Bureau website at www. Irs 1040ez 2012 instructions ttb. Irs 1040ez 2012 instructions gov. Irs 1040ez 2012 instructions Heavy highway vehicle use tax. Irs 1040ez 2012 instructions   You report the federal excise tax on the use of certain trucks, truck tractors, and buses used on public highways on Form 2290, Heavy Highway Vehicle Use Tax Return. Irs 1040ez 2012 instructions The tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. Irs 1040ez 2012 instructions Vans, pickup trucks, panel trucks, and similar trucks generally are not subject to this tax. Irs 1040ez 2012 instructions Note. Irs 1040ez 2012 instructions A Spanish version (Formulario 2290(SP)) is also available. Irs 1040ez 2012 instructions See How To Get Tax Help in chapter 17. Irs 1040ez 2012 instructions Registration of vehicles. Irs 1040ez 2012 instructions   Generally, you must prove that you paid your heavy highway vehicle use tax to register your taxable vehicle with your state motor vehicle department or to enter the United States in a Canadian or Mexican registered taxable vehicle. Irs 1040ez 2012 instructions Generally, a copy of Schedule 1 (Form 2290) is stamped by the IRS and returned to you as proof of payment. Irs 1040ez 2012 instructions    If you have questions on Form 2290, see its separate instructions, or you can call the Form 2290 call site at 1-866-699-4096 (toll free) from the United States, and 1-859-669-5733 (not toll free) from Canada and Mexico. Irs 1040ez 2012 instructions The hours of service are 8:00 a. Irs 1040ez 2012 instructions m. Irs 1040ez 2012 instructions to 6:00 p. Irs 1040ez 2012 instructions m. Irs 1040ez 2012 instructions Eastern time. Irs 1040ez 2012 instructions Wagering tax and occupational tax. Irs 1040ez 2012 instructions   The information on wagering tax can be found in the instructions for Form 730, Tax on Wagering, and Form 11-C, Occupational Tax and Registration Return for Wagering. Irs 1040ez 2012 instructions Prev  Up  Next   Home   More Online Publications
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Online Videos and Podcasts of the Appeals Process

2011 IRS Nationwide Tax Forum Videos

2009 IRS Nationwide Tax Forum Videos

The Appeals Process-Videos
The first video provides an overview of appealing a tax dispute and the IRS Office of Appeals. The other two videos, each approximately 9 to 10 minutes long, take you through the Appeals process and your appeal rights.

The Appeals Process-Podcasts 
The following audio podcasts, less than 5 minutes long, offers you general information about Appeals.

Page Last Reviewed or Updated: 21-Mar-2013

The Irs 1040ez 2012 Instructions

Irs 1040ez 2012 instructions 13. Irs 1040ez 2012 instructions   Payment of Taxes Table of Contents How To Make Deposits When To Make Deposits Amount of DepositsSafe Harbor Rule Generally, semimonthly deposits of excise taxes are required. Irs 1040ez 2012 instructions A semimonthly period is the first 15 days of a month (the first semimonthly period) or the 16th through the last day of a month (the second semimonthly period). Irs 1040ez 2012 instructions However, no deposit is required for the situations listed below; the taxes are payable with Form 720. Irs 1040ez 2012 instructions The net liability for taxes listed in Part I (Form 720) does not exceed $2,500 for the quarter. Irs 1040ez 2012 instructions The gas guzzler tax is being paid on a one-time filing. Irs 1040ez 2012 instructions The liability is for taxes listed in Part II (Form 720), except for the floor stocks tax which generally requires a single deposit. Irs 1040ez 2012 instructions How To Make Deposits Electronic deposit requirement. Irs 1040ez 2012 instructions   You must use electronic funds transfer to make excise tax deposits. Irs 1040ez 2012 instructions Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). Irs 1040ez 2012 instructions If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make deposits on your behalf. Irs 1040ez 2012 instructions Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Irs 1040ez 2012 instructions   EFTPS is a free service provided by the Department of Treasury. Irs 1040ez 2012 instructions Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Irs 1040ez 2012 instructions To get more information about EFTPS or to enroll in EFTPS, visit www. Irs 1040ez 2012 instructions eftps. Irs 1040ez 2012 instructions gov or call 1-800-555-4477. Irs 1040ez 2012 instructions Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide to Getting Started. Irs 1040ez 2012 instructions    Depositing on time. Irs 1040ez 2012 instructions For EFTPS deposits to be on time, you must initiate the transaction at least 1 day before the date the deposit is due (before 8:00 p. Irs 1040ez 2012 instructions m. Irs 1040ez 2012 instructions Eastern time). Irs 1040ez 2012 instructions You will automatically be enrolled in EFTPS when you apply for an EIN. Irs 1040ez 2012 instructions You will receive a separate mailing containing instructions for activating your EFTPS enrollment after you receive your EIN. Irs 1040ez 2012 instructions When To Make Deposits There are two methods for determining deposits: the regular method and the alternative method. Irs 1040ez 2012 instructions The regular method applies to all taxes in Part I of Form 720 except for communications and air transportation taxes if deposits are based on amounts billed or tickets sold, rather than on amounts actually collected. Irs 1040ez 2012 instructions See Alternative method below. Irs 1040ez 2012 instructions If you are depositing more than one tax under a method, combine all the taxes under the method and make one deposit for the semimonthly period. Irs 1040ez 2012 instructions Regular method. Irs 1040ez 2012 instructions   The deposit of tax for a semimonthly period is due by the 14th day following that period. Irs 1040ez 2012 instructions Generally, this is the 29th day of a month for the first semimonthly period and the 14th day of the following month for the second semimonthly period. Irs 1040ez 2012 instructions If the 14th or the 29th day falls on a Saturday, Sunday, or legal holiday, you must make the deposit by the immediately preceding day that is not a Saturday, Sunday, or legal holiday. Irs 1040ez 2012 instructions Alternative method (IRS Nos. Irs 1040ez 2012 instructions 22, 26, 27, and 28). Irs 1040ez 2012 instructions   Deposits of communications and air transportation taxes may be based on taxes included in amounts billed or tickets sold during a semimonthly period instead of on taxes actually collected during the period. Irs 1040ez 2012 instructions Under the alternative method, the tax included in amounts billed or tickets sold during a semimonthly period is considered collected during the first 7 days of the second following semimonthly period. Irs 1040ez 2012 instructions The deposit of tax is due by the 3rd banking day after the 7th day of that period. Irs 1040ez 2012 instructions   For an example of the alternative method, see the Instructions for Form 720. Irs 1040ez 2012 instructions To use the alternative method, you must keep a separate account of the tax included in amounts billed or tickets sold during the month and report on Form 720 the tax included in amounts billed or tickets sold and not the amount of tax that is actually collected. Irs 1040ez 2012 instructions For example, amounts billed in December, January, and February are considered collected during January, February, and March and are reported on Form 720 as the tax for the 1st quarter of the calendar year. Irs 1040ez 2012 instructions The separate account for each month must reflect: All items of tax included in amounts billed or tickets sold during the month, and Other items of adjustment relating to tax for prior months (within the statute of limitations on credits or refunds). Irs 1040ez 2012 instructions The separate account for any month cannot include an adjustment resulting from a refusal to pay or inability to collect unless the refusal has been reported to the IRS. Irs 1040ez 2012 instructions See Uncollected Tax Report in chapter 4. Irs 1040ez 2012 instructions The net amount of tax that is considered collected during the semimonthly period must be either: The net amount of tax reflected in the separate account for the corresponding semimonthly period of the preceding month, or One-half of the net amount of tax reflected in the separate account for the preceding month. Irs 1040ez 2012 instructions Special rule for deposits of taxes in September. Irs 1040ez 2012 instructions   See the Instructions for Form 720 for a special rule on deposits made in September. Irs 1040ez 2012 instructions Amount of Deposits Deposits for a semimonthly period generally must be at least 95% of the net tax liability for that period unless the safe harbor rule (discussed later) applies. Irs 1040ez 2012 instructions Generally, you do not have to make a deposit for a period in which you incurred no tax liability. Irs 1040ez 2012 instructions Net tax liability. Irs 1040ez 2012 instructions   Your net tax liability is your tax liability for the period minus any claims on Schedule C (Form 720) for the period. Irs 1040ez 2012 instructions You may figure your net tax liability for a semimonthly period by dividing your net liability incurred during the calendar month by two. Irs 1040ez 2012 instructions If you use this method, you must use it for all semimonthly periods in the calendar quarter. Irs 1040ez 2012 instructions Do not reduce your liability by any amounts from Form 720X. Irs 1040ez 2012 instructions Safe Harbor Rule The safe harbor rule applies separately to deposits under the regular method and the alternative method. Irs 1040ez 2012 instructions Persons who filed Form 720 for the look-back quarter (the 2nd calendar quarter preceding the current quarter) are considered to meet the semimonthly deposit requirement if the deposit for each semimonthly period in the current quarter is at least 1/6 (16. Irs 1040ez 2012 instructions 67%) of the net tax liability reported for the look-back quarter. Irs 1040ez 2012 instructions For the semimonthly period for which the additional deposit is required, the additional deposit must be at least 11/90 12. Irs 1040ez 2012 instructions 23%), 10/90 (11. Irs 1040ez 2012 instructions 12%) for non-EFTPS, of the net tax liability reported for the look-back quarter. Irs 1040ez 2012 instructions Also, the total deposit for that semimonthly period must be at least 1/6 (16. Irs 1040ez 2012 instructions 67%) of the net tax liability reported for the look-back quarter. Irs 1040ez 2012 instructions Exceptions. Irs 1040ez 2012 instructions   The safe harbor rule does not apply to: The 1st and 2nd quarters beginning on or after the effective date of an increase in the rate of tax unless the deposit of taxes for each semimonthly period in the calendar quarter is at least 1/6 (16. Irs 1040ez 2012 instructions 67%) of the tax liability you would have had for the look-back quarter if the increased rate of tax had been in effect for that look-back quarter, Any quarter if liability includes any tax not in effect throughout the look-back quarter, or For deposits under the alternative method, any quarter if liability includes any tax not in effect throughout the look-back quarter and the month preceding the look-back quarter. Irs 1040ez 2012 instructions Requirements to be met. Irs 1040ez 2012 instructions   For the safe harbor rule to apply, you must: Make each deposit timely at an authorized financial institution, and Pay any underpayment for the current quarter by the due date of the return. Irs 1040ez 2012 instructions    The IRS may withdraw the right to make deposits of tax using the safe harbor rule from any person not complying with these rules. Irs 1040ez 2012 instructions Tax rate increases. Irs 1040ez 2012 instructions   You must modify the safe harbor rule if there has been an increase in the rate of tax. Irs 1040ez 2012 instructions You must figure your tax liability in the look-back quarter as if the increased rate had been in effect. Irs 1040ez 2012 instructions To qualify for the safe harbor rule, your deposits cannot be less than 1/6 of the refigured tax liability. Irs 1040ez 2012 instructions Prev  Up  Next   Home   More Online Publications