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Tax Correction Form

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Tax Correction Form

Tax correction form Index A Abusive tax shelters (see Tax shelters) Accounting fees, Attorney or accounting fees. Tax correction form Accrual method, Accrual method taxpayers. Tax correction form , Accrual method. Tax correction form , Holders must use accrual method. Tax correction form , When To Deduct Investment Interest Accuracy-related penalty, Accuracy-related penalty. Tax correction form Acquisition discount, Government obligations. Tax correction form , Acquisition discount on short-term obligations. Tax correction form Adjusted basis, Basis adjustment. Tax correction form , Fair market value equal to or more than donor's adjusted basis. Tax correction form , Adjusted Basis, Short sales. Tax correction form Alaska Permanent Fund dividends, Alaska Permanent Fund dividends. Tax correction form , Child's Alaska Permanent Fund dividends. Tax correction form Amortization of bond premium, Bond Premium Amortization, Bonds acquired after October 22, 1986, but before 1988. Tax correction form Annuities Borrowing on, Borrowing on insurance. Tax correction form Interest on, Interest on annuity contract. Tax correction form Life insurance proceeds used to buy, Annuity. Tax correction form Sale of, Sale of Annuity Single-premium, Single-premium life insurance, endowment, and annuity contracts. Tax correction form Trade for, Trade of investment property for an annuity. Tax correction form , Insurance Policies and Annuities Applicable federal rate, Applicable federal rate. Tax correction form Appreciated financial positions, Constructive Sales of Appreciated Financial Positions Arbitrage bonds, Arbitrage bonds. Tax correction form Assistance (see Tax help) At-risk rules, At-risk rules. Tax correction form , At-risk rules. Tax correction form Attorneys' fees, Attorney or accounting fees. Tax correction form Automatic investment service, Automatic investment service and dividend reinvestment plans. Tax correction form , Automatic investment service. Tax correction form , Automatic investment service. Tax correction form Average basis, Average Basis Double-category method, Transition rule from double-category method. Tax correction form Illustrated, Average basis method illustrated. Tax correction form B Backup withholding, Backup withholding. Tax correction form Bad debts, Nonbusiness bad debt. Tax correction form , Nonbusiness Bad Debts Bankrupt financial institutions Deposit in, Deposit in Insolvent or Bankrupt Financial Institution Bargain purchases, Bargain purchases. Tax correction form Basis, Basis of Investment Property, U. Tax correction form S. Tax correction form Treasury Notes or Bonds Adjusted, Basis adjustment. Tax correction form , Fair market value equal to or more than donor's adjusted basis. Tax correction form , Adjusted Basis, Short sales. Tax correction form Average, Average Basis Cost, Cost Basis, Cost Basis Inherited property, Property Received as Inheritance Investment property, Basis of Investment Property Like-kind exchanges, Basis of property received. Tax correction form Other than cost, Basis Other Than Cost REITs, Shares in a mutual fund or REIT. Tax correction form REMIC, residual interest, Basis in the residual interest. Tax correction form Replacement stock, Basis of replacement stock. Tax correction form Shares acquired by reinvestment, Reinvestment right. Tax correction form Stocks and bonds, Basis adjustment. Tax correction form , Basis. Tax correction form , Basis. Tax correction form , Stocks and Bonds Bearer obligations, Bearer CDs. Tax correction form , Bearer Obligations Below-market loans, Below-Market Loans Bonds Accrued interest on, Accrued interest on bonds. Tax correction form Amortization of premium, Bond Premium Amortization Arbitrage, Arbitrage bonds. Tax correction form Basis, Basis. Tax correction form , Stocks and Bonds Capital asset, Stocks, stock rights, and bonds. Tax correction form Convertible, Convertible stocks and bonds. Tax correction form Coupon, Coupon bonds. Tax correction form Enterprise zone facility, Enterprise zone facility bonds. Tax correction form Federally guaranteed, Federally guaranteed bonds. Tax correction form Identification, Identifying stock or bonds sold. Tax correction form Market discount, Market discount. Tax correction form , Limit on interest deduction for market discount bonds. Tax correction form , Market discount on bonds. Tax correction form , Market discount bonds. Tax correction form , Market discount bonds. Tax correction form New York Liberty bonds, New York Liberty bonds. Tax correction form Par value, Bonds purchased at par value. Tax correction form Premiums on, Bond premium. Tax correction form , Premiums on bonds. Tax correction form Private activity, Private activity bonds. Tax correction form Redemption or retirement of, Redemption or retirement of bonds. Tax correction form Sold between interest dates, Bonds Sold Between Interest Dates State and local government, Tax-exempt state and local government bonds. Tax correction form Stripped, Stripped bonds or coupons. Tax correction form , Stripped Bonds and Coupons, Stripped tax-exempt obligation. Tax correction form Tax credit bonds, Tax credit bonds. Tax correction form Tax-exempt, Tax-exempt state and local government bonds. Tax correction form Traded flat, Bonds traded flat. Tax correction form U. Tax correction form S. Tax correction form savings (see U. Tax correction form S. Tax correction form savings bonds) U. Tax correction form S. Tax correction form Treasury (see U. Tax correction form S. Tax correction form Treasury bills, notes, and bonds) Brokerage fees, Fees to buy or sell. Tax correction form , Sale expenses. Tax correction form C Calls and puts, Puts and Calls Table 4-3, Table 4-3. Tax correction form Puts and Calls Capital assets, Capital Assets and Noncapital Assets Capital gain distributions, Capital Gain Distributions, Basis adjustment. Tax correction form , Capital gain distributions. Tax correction form , Child's capital gain distributions. Tax correction form , Capital gain distributions received. Tax correction form Capital gains and losses, Capital Gains and Losses, Loss on stock that paid qualified dividends. Tax correction form Constructive ownership transactions, Gains From Certain Constructive Ownership Transactions Definition, Capital or Ordinary Gain or Loss Empowerment zone assets, Exclusion of Gain From DC Zone Assets Investment property, Investment property. Tax correction form Long-term, Short-Term or Long-Term Capital Gain or Loss, Long-term gains and losses. Tax correction form Long-term debt instruments, Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). Tax correction form Losses, limit on, Limit on deduction. Tax correction form Passive activities, Passive activity gains and losses. Tax correction form Qualified covered call options, Capital loss on qualified covered call options. Tax correction form Qualified small business stock, Gains on Qualified Small Business Stock Reporting requirements, How To Report Gains and Losses (Form 6781), How to report gain. Tax correction form Rollover of gain from sale of securities, Rollover of Gain From Publicly Traded Securities Short-term, Short-Term or Long-Term Capital Gain or Loss, Short-term gains and losses. Tax correction form Tax rates, Capital Gain Tax Rates, Table 4-4. Tax correction form What Is Your Maximum Capital Gain Rate? Table 4-4, Table 4-4. Tax correction form What Is Your Maximum Capital Gain Rate? Capital loss carryover, Capital loss carryover. Tax correction form , Capital Losses Worksheet 4-1, Worksheet 4-1. Tax correction form Capital Loss Carryover Worksheet Cash method, Cash method taxpayers. Tax correction form , Cash method. Tax correction form , When To Deduct Investment Interest Reporting options for savings bond interest, Reporting options for cash method taxpayers. Tax correction form Cash-settled options, Cash-settled options. Tax correction form Casualty losses, Ordinary loss or casualty loss. Tax correction form CDOs (Collateralized debt obligations), Collateralized Debt Obligations (CDOs) Certificates of deposit (CDs), Certificates of Deposit (CDs) Children Alaska Permanent Fund dividends, Child's Alaska Permanent Fund dividends. Tax correction form Capital gain distributions, Child's capital gain distributions. Tax correction form Custodian account for, Custodian account for your child. Tax correction form Gifts to, Income from property given to a child. Tax correction form Investment income of, Tax on unearned income of certain children. Tax correction form , Investment income of child reported on parent's return. Tax correction form Qualified dividends, Child's qualified dividends. Tax correction form Savings account with parent as trustee, Savings account with parent as trustee. Tax correction form U. Tax correction form S. Tax correction form savings bond owner, Child as only owner. Tax correction form Clerical help, Clerical help and office rent. Tax correction form Co-owners of U. Tax correction form S. Tax correction form savings bonds, Co-owners. Tax correction form Collateralized debt obligations (CDOs), Collateralized Debt Obligations (CDOs) Collectibles, Collectibles gain or loss. Tax correction form Commissions, Commissions and load charges. Tax correction form Commodity futures, Commodity Futures, Commodity futures. Tax correction form Community property U. Tax correction form S. Tax correction form savings bonds, Community property. Tax correction form Constructive ownership transactions, Constructive ownership of stock. Tax correction form , Gains From Certain Constructive Ownership Transactions Constructive receipt, Constructive receipt. Tax correction form Constructive sales, Constructive Sales of Appreciated Financial Positions Contractors, insolvency of, Insolvency of contractor. Tax correction form Conversion transactions, Conversion Transactions Convertible stocks and bonds, Convertible stocks and bonds. Tax correction form Cooperatives, sales of stock to, Sales of Stock to ESOPs or Certain Cooperatives Corporate distributions, Dividends and Other Distributions Capital gain, Capital gain distributions. Tax correction form , Child's capital gain distributions. Tax correction form , Capital gain distributions received. Tax correction form Constructive, Constructive distributions. Tax correction form Dividends (see Dividends) Fractional shares, Fractional shares. Tax correction form Liquidating, Liquidating Distributions, Liquidating distributions. Tax correction form Nondividend, Nondividend Distributions, Nondividend distributions. Tax correction form Return of capital, Basis adjustment. Tax correction form Stock rights, Distributions of Stock and Stock Rights Undistributed capital gains, Undistributed capital gains of mutual funds and REITs. Tax correction form Corporate reorganizations, Corporate reorganizations. Tax correction form Cost basis, Cost Basis, Cost Basis Coupon bonds, Coupon bonds. Tax correction form D Day traders, Special Rules for Traders in Securities Dealer equity options, Dealer equity option. Tax correction form Dealer securities futures contracts, Dealer securities futures contract. Tax correction form Debt instruments, retirement of, Retirement of debt instrument. Tax correction form Decedents, Appreciated property you gave the decedent. Tax correction form , Decedent's capital loss. Tax correction form U. Tax correction form S. Tax correction form savings bond interest, reporting of, Decedents. Tax correction form Demutualization, Demutualization of Life Insurance Companies Deposits, loss on, Deposit in Insolvent or Bankrupt Financial Institution Discount on debt instruments, Discount on Debt Instruments Certificates of deposit, Certificates of Deposit (CDs) Election to report all interest as OID, Election To Report All Interest as OID Face-amount certificates, Face-Amount Certificates Gain or loss treatment, Discounted Debt Instruments Inflation-indexed, Inflation-Indexed Debt Instruments Market discount bonds (see Market discount bonds) Original issue discount (see Original issue discount (OID)) Short-term obligations, Discount on Short-Term Obligations, Short-term government obligations. Tax correction form Stripped bonds and coupons, Stripped Bonds and Coupons Discounted debt instruments, Discount on Debt Instruments Discounted tax-exempt obligations, Discounted tax-exempt obligations. Tax correction form Dividends, Dividends and Other Distributions, Form 1099-DIV. Tax correction form (see also Form 1099-DIV) Alaska Permanent Fund, Alaska Permanent Fund dividends. Tax correction form , Child's Alaska Permanent Fund dividends. Tax correction form Exempt-interest, Exempt-interest dividends. Tax correction form , Exempt-interest dividends. Tax correction form , Exempt-interest dividends on mutual fund stock. Tax correction form Extraordinary, Extraordinary dividends. Tax correction form Holding period, Holding period. Tax correction form Insurance policies, Dividends on insurance policies. Tax correction form Money market funds, Money Market Funds Nominees, Nominees. Tax correction form , Nominees. Tax correction form Ordinary, Ordinary Dividends Patronage, Patronage dividends. Tax correction form Payments in lieu of, Payments in lieu of dividends. Tax correction form Qualified, Qualified Dividends, Qualified dividends. Tax correction form , Child's qualified dividends. Tax correction form Qualified foreign corporation, Qualified foreign corporation. Tax correction form Received in January, Dividends received in January. Tax correction form Reinvestment of, Reinvested distributions. Tax correction form Reinvestment plans, Dividends Used To Buy More Stock, Automatic investment service and dividend reinvestment plans. Tax correction form , Dividend reinvestment plans. Tax correction form Reporting requirements, Form 1099-DIV. Tax correction form , How To Report Dividend Income, Stripped Preferred Stock Restricted stock, Dividends received on restricted stock. Tax correction form Sale or trade vs. Tax correction form , Dividend versus sale or trade. Tax correction form Scrip, Scrip dividends. Tax correction form Sold stock, Dividends on stock sold. Tax correction form Stock, Stock dividends. Tax correction form , Stock dividends. Tax correction form Underreported, Underreported interest and dividends. Tax correction form Veterans' insurance, Interest on VA dividends. Tax correction form , Dividends on veterans' insurance. Tax correction form Divorce, Property Received From Your Spouse, Transfers Between Spouses E Education Savings Bond Program, Education Savings Bond Program Interest excluded under, Interest excluded under the Education Savings Bond Program. Tax correction form Recordkeeping requirements, Education Savings Bond Program Employee stock options, Reminders Employee stock ownership plans (ESOPs), sales of stock to, Sales of Stock to ESOPs or Certain Cooperatives Employer identification numbers (EINs), Identifying number. Tax correction form Empowerment zone, Exclusion of Gain From DC Zone Assets Endowment contracts, Single-premium life insurance, endowment, and annuity contracts. Tax correction form Enterprise zone facility bonds, Enterprise zone facility bonds. Tax correction form Equity option, Equity option. Tax correction form Estate income received by beneficiary, Beneficiary of an estate or trust. Tax correction form Exchanges of mutual fund shares, Exchange of Shares In One Mutual Fund For Shares In Another Mutual Fund Exclusion of gain DC zone assets, Exclusion of Gain From DC Zone Assets Exempt-interest dividends on mutual fund stock, Exempt-interest dividends on mutual fund stock. Tax correction form Expenses of producing income, Expenses of Producing Income F Face-amount certificates, Face-Amount Certificates Fair market value, Fair market value. Tax correction form , Fair market value less than donor's adjusted basis. Tax correction form , Fair market value. Tax correction form Federal guarantee on bonds, Federally guaranteed bonds. Tax correction form Fees to buy or sell, Fees to buy or sell. Tax correction form Financial asset securitization investment trusts (FASITs), FASITs First-in first-out (FIFO), First-in first-out (FIFO). Tax correction form Foreign currency transactions, Foreign currency contract. Tax correction form Foreign income, Reminders Form 1040, Form 1040. Tax correction form , Form 1040A or Form 1040. Tax correction form Form 1040, Schedule B, Schedule B (Form 1040A or 1040). Tax correction form Form 1040, Schedule D, How to report gain. Tax correction form Form 1040A, Form 1040A. Tax correction form Form 1040X, Filing a claim for refund. Tax correction form Form 1041, Filing requirement. Tax correction form Form 1065, Filing requirement. Tax correction form Schedule K-1, Schedule K-1 (Form 1065). Tax correction form Form 1066, Schedule Q, Schedule Q (Form 1066). Tax correction form , Investment expenses from pass-through entities. Tax correction form Form 1096, File Form 1099-INT with the IRS. Tax correction form , File Form 1099-DIV with the IRS. Tax correction form , File Form 1099-B or Form 1099-S with the IRS. Tax correction form Form 1099-B, Form 1099-B. Tax correction form , Form 1099-B transactions. Tax correction form , File Form 1099-B or Form 1099-S with the IRS. Tax correction form Form 1099-CAP, Form 1099-CAP transactions. Tax correction form Form 1099-DIV, General Information, Form 1099-DIV. Tax correction form , Form 1099-DIV. Tax correction form , File Form 1099-DIV with the IRS. Tax correction form Form 1099-INT, General Information, Form 1099-INT. Tax correction form , Form 1099-INT for U. Tax correction form S. Tax correction form savings bond interest. Tax correction form , Form 1099-INT. Tax correction form , File Form 1099-INT with the IRS. Tax correction form , Forms 1099-INT and 1099-OID. Tax correction form , Forms 1099-INT and 1099-OID. Tax correction form Form 1099-MISC, Form 1099-MISC. Tax correction form , Reporting Substitute Payments Form 1099-OID, Form 1099-OID. Tax correction form , Form 1099-OID, Form 1099-OID. Tax correction form , Forms 1099-INT and 1099-OID. Tax correction form , Forms 1099-INT and 1099-OID. Tax correction form Form 1099-S, Form 1099-S transactions. Tax correction form , File Form 1099-B or Form 1099-S with the IRS. Tax correction form Form 1120, Filing requirement. Tax correction form Form 2439, Undistributed capital gains of mutual funds and REITs. Tax correction form Form 3115, Change from method 2. Tax correction form , Choosing To Amortize, How To Make the Mark-to-Market Election Form 4684, Ordinary loss or casualty loss. Tax correction form Form 4797, How to report. Tax correction form , Losses on Section 1244 (Small Business) Stock, How to report. Tax correction form Form 4952, Form 4952 Form 6198, At-risk rules. Tax correction form Form 6781, Form 6781. Tax correction form , How to report. Tax correction form , How To Report Gains and Losses (Form 6781), Section 1256 contracts and straddles. Tax correction form Form 8275, Negligence or disregard of rules or regulations. Tax correction form Form 8275-R, Negligence or disregard of rules or regulations. Tax correction form Form 8582, Form 8582. Tax correction form Form 8615, Tax on unearned income of certain children. Tax correction form Form 8815, Form 8815. Tax correction form , Figuring the interest part of the proceeds (Form 8815, line 6). Tax correction form , Interest excluded under the Education Savings Bond Program. Tax correction form Form 8824, How to report. Tax correction form Form 8832, Clubs formed before 1997. Tax correction form Form 8886, Reportable Transaction Disclosure Statement, Negligence or disregard of rules or regulations. Tax correction form Form 8949 Bad debts, How to report bad debts. Tax correction form Basis adjustment, Basis adjustment. Tax correction form Capital Gains, Reporting Capital Gains and Losses Capital Losses, Reporting Capital Gains and Losses Cooperative, sale to certain, Sales of Stock to ESOPs or Certain Cooperatives Copyrights in musical works, Capital asset treatment for self-created musical works. Tax correction form Employee stock ownership plan, sale to, Sales of Stock to ESOPs or Certain Cooperatives Empowerment Zone Assets, Exclusion of Gain From DC Zone Assets Exempt-interest dividends, Exempt-interest dividends on mutual fund stock. Tax correction form Form 1099-B, Form 1099-B. Tax correction form , Form 1099-B transactions. Tax correction form Form 1099-CAP, Form 1099-CAP transactions. Tax correction form Form 1099-S, Form 1099-S transactions. Tax correction form Fractional shares, Fractional shares. Tax correction form Gain, qualified small business stock, How to report gain. Tax correction form How to fill in, generally, Reporting Capital Gains and Losses Long-term gains and losses, Long-term gains and losses. Tax correction form Marked-to-market election, Mark-to-market election made. Tax correction form Market discount bonds, Market discount bonds. Tax correction form , Market discount bonds. Tax correction form Musical compositions, Capital asset treatment for self-created musical works. Tax correction form Nominees, Nominees. Tax correction form Nonbusiness bad debt, Nonbusiness bad debt. Tax correction form Nondividend distributions, Nondividend distributions. Tax correction form Option, How to report. Tax correction form Property bought at various times, Sale of property bought at various times. Tax correction form Rollover, publicly traded securities, Rollover of Gain From Publicly Traded Securities Rollover, qualified small business stock, How to report gain. Tax correction form Sale expenses, Sale expenses. Tax correction form Short-term gains and losses, Short-term gains and losses. Tax correction form Software, Stocks and Bonds Worthless securities, How to report loss. Tax correction form Form SS-4, Identifying number. Tax correction form Form W-8BEN, Nonresident aliens. Tax correction form Form W-9, Certification. Tax correction form Fractional shares, Fractional shares. Tax correction form , Automatic investment service. Tax correction form Free tax services, Free help with your tax return. Tax correction form Frozen deposits, Interest income on frozen deposits. Tax correction form , Frozen deposits. Tax correction form Futures contracts Regulated, Regulated futures contract. Tax correction form Securities, Securities futures contract. Tax correction form , Securities futures contract to sell. Tax correction form , Securities Futures Contracts Futures, commodity, Commodity Futures, Commodity futures. Tax correction form Wash sales, Options and futures contracts. Tax correction form G Gains on qualified small business stock, Gains on Qualified Small Business Stock Gains on sales or trades, How To Figure Gain or Loss, Gain on Sale or Trade of Depreciable Property, Property received from a related party. Tax correction form (see also Capital gains and losses) Gifts, What's New, Income from property given to a child. Tax correction form , Property Received as a Gift, Property received as a gift. Tax correction form Gifts of shares, Shares received as gift. Tax correction form Government obligations, Government obligations. Tax correction form H Hedging transactions, Hedging exception. Tax correction form , Hedging Transactions, Hedging transaction. Tax correction form Help (see Tax help) Holding period Investment property, Holding Period Replacement stock, Holding period of replacement stock. Tax correction form Shares acquired by reinvestment, Reinvested distributions. Tax correction form Straddles, Holding Period and Loss Treatment Rules I Income from sources outside U. Tax correction form S. Tax correction form , Reminders Income tax treaties (Table 1-3), Qualified Dividends Indian tribal government, Indian tribal government. Tax correction form Individual retirement arrangements (IRAs) Interest income, Individual retirement arrangements (IRAs). Tax correction form Inflation-indexed debt instruments, Inflation-Indexed Debt Instruments, Stripped inflation-indexed debt instruments. Tax correction form Inherited property Basis, Property Received as Inheritance Holding period, Inherited property. Tax correction form Transfer by inheritance, Transfer by inheritance. Tax correction form Insolvency of contractors, Insolvency of contractor. Tax correction form Installment sales, Installment sales. Tax correction form Insurance Borrowing on, Borrowing on insurance. Tax correction form Dividends, interest on, Interest on insurance dividends. Tax correction form , Dividends on insurance policies. Tax correction form Interest option on, Interest option on insurance. Tax correction form Life insurance companies, demutualization, Demutualization of Life Insurance Companies Life, paid to beneficiary, Insurance Prepaid premiums, Prepaid insurance premiums. Tax correction form Single-premium life, Single-premium life insurance, endowment, and annuity contracts. Tax correction form Trades, Insurance Policies and Annuities Veterans' dividends, interest on, Interest on VA dividends. Tax correction form , Dividends on veterans' insurance. Tax correction form Interest expenses Allocation of, Allocation of Interest Expense Investment interest, Investment Interest Limit on, Limit on interest deduction for market discount bonds. Tax correction form , Limit on Deduction When to deduct, When To Deduct Investment Interest Margin accounts, Interest on margin accounts. Tax correction form Paid in advance, Interest paid in advance. Tax correction form Straddles, Interest expense and carrying charges on straddles. Tax correction form Interest income, Interest Income Annuity contracts, Interest on annuity contract. Tax correction form Bonds traded flat, Bonds traded flat. Tax correction form Certificates of deposits, Certificates of deposit and other deferred interest accounts. Tax correction form Condemnation awards, Interest on condemnation award. Tax correction form Deferred interest accounts, Certificates of deposit and other deferred interest accounts. Tax correction form Dividends on deposit or share accounts, Dividends that are actually interest. Tax correction form Frozen deposits, Interest income on frozen deposits. Tax correction form , Frozen deposits. Tax correction form Gift for opening account, Gift for opening account. Tax correction form Individual retirement arrangements (IRAs), Individual retirement arrangements (IRAs). Tax correction form Installment sale payments, Installment sale payments. Tax correction form Insurance dividends, Interest on insurance dividends. Tax correction form Money market funds, Money market funds. Tax correction form Nominee distributions, Nominees. Tax correction form Prepaid insurance premiums, Prepaid insurance premiums. Tax correction form Reporting, When To Report Interest Income, Penalty on early withdrawal of savings. Tax correction form Seller-financed mortgage, Form 1040A. Tax correction form , Interest on seller-financed mortgage. Tax correction form Tax refunds, Interest on tax refunds. Tax correction form Tax-exempt, Tax-Exempt Interest, Reporting tax-exempt interest. Tax correction form Taxable, Taxable Interest — General, Bonds traded flat. Tax correction form , Taxation of interest. Tax correction form , Taxable Interest U. Tax correction form S. Tax correction form savings bonds, person responsible for tax (Table 1-2), Table 1-2. Tax correction form Who Pays the Tax on U. Tax correction form S. Tax correction form Savings Bond Interest Underreported, Underreported interest and dividends. Tax correction form Unstated, Unstated interest. Tax correction form Usurious interest, Usurious interest. Tax correction form VA insurance dividends, Interest on VA dividends. Tax correction form Investment clubs, Investment Clubs, Filing requirement. Tax correction form Investment counsel and advice, Investment counsel and advice. Tax correction form Investment expenses, Investment Expenses Allocated, Allocated investment expenses. Tax correction form At-risk rules, At-risk rules. Tax correction form Deductible, Expenses of Producing Income Interest, Investment interest deducted. Tax correction form Limits on deductions, Limits on Deductions Nondeductible, Nondeductible Expenses Pass-through entities, Investment expenses from pass-through entities. Tax correction form Reporting requirements, How To Report Investment Expenses Investment income, Investment Income Children, Tax on unearned income of certain children. Tax correction form , Investment income of child reported on parent's return. Tax correction form General Information, General Information Net income, Net Investment Income Records to keep, General Information Reporting of (Table 1-1), Table 1-1. Tax correction form Where To Report Common Types of Investment Income Investment property, Investment property. Tax correction form Basis, Basis of Investment Property Definition, Investment property. Tax correction form Gain or loss treatment, Investment property. Tax correction form Gift, received as, Property Received as a Gift Holding period, Holding Period Liquidation, received in, Investment property received in liquidation. Tax correction form Nontaxable trades, received in, Property Received in Nontaxable Trades Sales and trades, Sales and Trades of Investment Property Services, received for, Property Received for Services Spouse, received from, Property Received From Your Spouse Taxable trades, received in, Property Received in Taxable Trades J Joint accounts, Joint accounts. Tax correction form Joint and separate returns, Joint return. Tax correction form , Joint and separate returns. Tax correction form L Life insurance companies demutualization, Demutualization of Life Insurance Companies Like-kind exchanges, Like-Kind Exchanges, Like-Kind Exchanges Basis of property received, Basis of property received. Tax correction form Reporting requirements, How to report. Tax correction form Liquidating distributions, Liquidating Distributions, Investment property received in liquidation. Tax correction form Listed options, Listed option. Tax correction form Load charges, Commissions and load charges. Tax correction form Loans Below-market, Below-Market Loans, Effective dates. Tax correction form Gift and demand, Gift and demand loans. Tax correction form Guarantees, Loan guarantees. Tax correction form Term, Term loans. Tax correction form Local government obligations (see State or local government obligations) Long-term capital gains and losses, Short-Term or Long-Term Capital Gain or Loss, Long-term gains and losses. Tax correction form Long-term debt instruments, Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). Tax correction form Losses on sales or trades, Property received from a related party. Tax correction form (see also Capital gains and losses) Amount calculation, How To Figure Gain or Loss Carryback election, Loss carryback election. Tax correction form , Loss carryback election. Tax correction form Mutual fund or REIT stock held 6 months or less, Loss on mutual fund or REIT stock held 6 months or less. Tax correction form Passive activities, Passive activity losses. Tax correction form , Passive activity losses. Tax correction form , Passive activity losses and credits. Tax correction form , Losses from passive activities. Tax correction form Related parties, Losses on Sales or Trades of Property Section 1244 (small business) stock, Losses on Section 1244 (Small Business) Stock Small business investment company stock, Losses on Small Business Investment Company Stock Wash sales, Coordination of Loss Deferral Rules and Wash Sale Rules M Mark-to-market election, Mark-to-market election made. Tax correction form Marked-to-market rules, Marked-to-Market Rules, Mark-to-market election made. Tax correction form Market discount bonds, Market discount. Tax correction form , Market Discount Bonds, Partial principal payments. Tax correction form , Limit on interest deduction for market discount bonds. Tax correction form , Market discount on bonds. Tax correction form , Market discount bonds. Tax correction form , Market discount bonds. Tax correction form Accrued market discount, Accrued market discount. Tax correction form Maximum rate of capital gains (Table 4-4), Table 4-4. Tax correction form What Is Your Maximum Capital Gain Rate? Mechanics' and suppliers' liens, Mechanics' and suppliers' liens. Tax correction form Meetings, expenses of attending, Stockholders' meetings. Tax correction form Missing children, photographs of, Reminders Mixed straddles, Mixed straddles. Tax correction form , Mixed straddles. Tax correction form Money market funds, Money Market Funds Interest income, Money market funds. Tax correction form Mortgages Revenue bonds, Mortgage revenue bonds. Tax correction form Secondary liability on home, Secondary liability on home mortgage. Tax correction form Seller-financed, Interest on seller-financed mortgage. Tax correction form Municipal bonds, State or Local Government Obligations, Reporting tax-exempt interest. Tax correction form , Tax-exempt state and local government bonds. Tax correction form (see also State or local government obligations) Mutual funds, Capital Gain Distributions, Other income (nonpassive income). Tax correction form , Choosing to include net capital gain. Tax correction form , Including mutual fund or REMIC expenses in income. Tax correction form , Shares in a mutual fund or REIT. Tax correction form , Special Rules for Mutual Funds, Loss on mutual fund or REIT stock held 6 months or less. Tax correction form Individual retirement arrangements (IRAs), Qualified retirement plans and IRAs. Tax correction form publicly offered, Publicly-offered mutual funds. Tax correction form N Net Investment Income Tax, What's New, Net investment income tax (NIIT). Tax correction form New York Liberty bonds, New York Liberty bonds. Tax correction form NIIT, What's New, Net investment income tax (NIIT). Tax correction form Nominee distributions Dividends, Nominees. Tax correction form , Nominees. Tax correction form Interest income, Nominees. Tax correction form , Nominee distributions. Tax correction form Original issue discount, Nominee. Tax correction form Nonbusiness bad debts, Nonbusiness bad debt. Tax correction form , Nonbusiness Bad Debts Noncapital assets, Capital Assets and Noncapital Assets Nondeductible investment expenses, Nondeductible Expenses Nondividend distributions, Nondividend Distributions Nonequity options, Nonequity option. Tax correction form Nonqualified preferred stock, Nonqualified preferred stock. Tax correction form Nonresident aliens Backup withholding, Nonresident aliens. Tax correction form Nontaxable return of capital, Basis adjustment. Tax correction form Nontaxable stock rights, Nontaxable stock rights. Tax correction form Nontaxable trades, Nontaxable Trades, Nontaxable trades. Tax correction form Notes Individuals, bought at discount, Notes of individuals. Tax correction form U. Tax correction form S. Tax correction form Treasury (see U. Tax correction form S. Tax correction form Treasury bills, notes, and bonds) O Office expenses, Clerical help and office rent. Tax correction form Options, Options Calls and puts, Puts and Calls Cash settlement, Cash-settled options. Tax correction form , Cash settlement option. Tax correction form Dealer equity, Dealer equity option. Tax correction form Deep-in-the-money, Qualified covered call options and optioned stock. Tax correction form Employee stock, Reminders Equity, Equity option. Tax correction form Gain or loss, Options, Qualified covered call options and optioned stock. Tax correction form Holding period, Option exercised. Tax correction form Listed, Listed option. Tax correction form Nonequity, Nonequity option. Tax correction form Qualified covered call, Qualified covered call options and optioned stock. Tax correction form Reporting requirements, How to report. Tax correction form Section 1256 contracts, Section 1256 Contracts Marked to Market, Section 1256 contract options. Tax correction form Wash sales, Options and futures contracts. Tax correction form Ordinary gains and losses, Capital or Ordinary Gain or Loss, Ordinary loss or casualty loss. Tax correction form Original issue discount (OID), Original issue discount. Tax correction form , Original Issue Discount (OID), Stripped tax-exempt obligations. Tax correction form , Original issue discount (OID) on debt instruments. Tax correction form Adjustment to, Original issue discount (OID) adjustment. Tax correction form Reporting requirements, Exceptions to reporting OID. Tax correction form , Form 1099-OID Rules, Applying the OID Rules P Pass-through entities Rollover of gain, Pass-through entity. 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Tax correction form , Gains on Qualified Small Business Stock Gains on, Gains on Qualified Small Business Stock R Real estate investment trusts (REITs), Undistributed capital gains of mutual funds and REITs. Tax correction form , Shares in a mutual fund or REIT. Tax correction form , Loss on mutual fund or REIT stock held 6 months or less. Tax correction form Real estate mortgage investment conduits (REMICs), REMICs, Expenses. Tax correction form , Including mutual fund or REMIC expenses in income. Tax correction form Regular interest, Regular Interest Residual interest, Residual Interest, Residual interests in a REMIC. Tax correction form Recordkeeping requirements Education Savings Bond Program, Education Savings Bond Program Investment income, General Information Small business stock, Losses on Section 1244 (Small Business) Stock Redemption of stock, Redemption of stock. Tax correction form Redemption or retirement of bonds, Redemption or retirement of bonds. 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Tax correction form Interest on U. Tax correction form S. Tax correction form savings bonds, Reporting options for cash method taxpayers. Tax correction form , Choice to report interest each year. Tax correction form Investment expenses, How To Report Investment Expenses Like-kind exchanges, How to report. Tax correction form Options, How to report. Tax correction form Original issue discount, Form 1099-OID S corporation income, deductions, and credits, Reporting S corporation income, deductions, and credits. Tax correction form Section 1256 contracts, How To Report State or local government obligations, Information reporting requirement. Tax correction form Straddles, Section 1256 contracts and straddles. Tax correction form Substitute payments, Reporting Substitute Payments Tax-exempt interest income, Reporting tax-exempt interest. Tax correction form Trades, How To Report Repossession of real property, Real property repossessed. Tax correction form Restricted property, Restricted property. Tax correction form Restricted stock, Dividends received on restricted stock. Tax correction form Retirement of debt instrument, Retirement of debt instrument. Tax correction form Return of capital (see Nondividend distributions) Revocable trust, trustee's commissions for, Trustee's commissions for revocable trust. Tax correction form Rollover of gain from sale Securities, Rollover of Gain From Publicly Traded Securities, Rollover of Gain S S corporations, S Corporations, S corporation stock. Tax correction form Safe deposit box, Safe deposit box rent. Tax correction form Sales and trades of investment property, Sales and Trades of Investment Property Definition, What Is a Sale or Trade? Savings bonds (see U. Tax correction form S. Tax correction form savings bonds) SBIC stock (see Small business investment company stock) Scrip dividends, Scrip dividends. Tax correction form Section 1202 gain, Section 1202 Exclusion, Gain on qualified small business stock. Tax correction form Section 1244 stock, Losses on Section 1244 (Small Business) Stock Section 1250 gain, Unrecaptured section 1250 gain. Tax correction form Section 1256 contracts, Section 1256 Contracts Marked to Market, Section 1256 contracts. Tax correction form , Section 1256 contract options. Tax correction form , Section 1256 contracts and straddles. Tax correction form Net gain on, Net section 1256 contracts gain. Tax correction form Net loss on, Net section 1256 contracts loss. Tax correction form Reporting requirements, How To Report Securities Holding period, Holding Period Installment sales, Installment sales. Tax correction form Lost, stolen, etc. Tax correction form , cost of replacing, Cost of replacing missing securities. Tax correction form Rollover of gain from sale, Rollover of Gain From Publicly Traded Securities, Rollover of Gain Traders in, Special Rules for Traders in Securities Worthless, Worthless Securities, Worthless securities. Tax correction form Securities futures contracts, Dealer securities futures contract. Tax correction form , Securities futures contract. Tax correction form , Securities Futures Contracts Self-employment income, Self-Employment Income Self-employment tax, Self-employment tax. Tax correction form Seller-financed mortgages, Interest on seller-financed mortgage. Tax correction form Short sales, Short Sales, Extraordinary dividends. Tax correction form Adjusted basis, Short sales. Tax correction form Expenses of, Short-sale expenses. Tax correction form Extraordinary dividends, Extraordinary dividends. Tax correction form Puts, Put option as short sale. Tax correction form Small business investment company stock, Short sale. Tax correction form Short-term capital gains and losses, Short-Term or Long-Term Capital Gain or Loss, Short-term gains and losses. Tax correction form Short-term obligations, Discount on Short-Term Obligations, Choosing to include accrued discount and other interest in current income. Tax correction form , Acquisition discount on short-term obligations. Tax correction form , Short-term government obligations. Tax correction form Interest deduction, limit on, Limit on interest deduction for short-term obligations. Tax correction form Sixty/forty (60/40) rule, 60/40 rule. Tax correction form Small business investment company stock, Losses on Small Business Investment Company Stock, SSBIC stock. Tax correction form Reporting requirements, How to report. Tax correction form Small business stock, Qualified small business stock. Tax correction form , Losses on Section 1244 (Small Business) Stock, Qualified small business stock. Tax correction form , Gains on Qualified Small Business Stock Social security number (SSN) Custodial accounts, Custodian account for your child. Tax correction form Joint accounts, SSN for joint account. Tax correction form Requirement to give, Social security number (SSN). Tax correction form Specialized small business investment company stock, Specialized small business investment company stock or partnership interest. Tax correction form , SSBIC stock. Tax correction form Spouses Transfers between, Property Received From Your Spouse, Transfers Between Spouses (see also Related party transactions) State or local government obligations, State or Local Government Obligations, Taxable Interest Market discount bonds (see Market discount bonds) Private activity bonds, Private activity bonds. Tax correction form Registration requirement, Registration requirement. Tax correction form Tax-exempt interest, Tax-Exempt Interest Taxable interest, Taxable Interest Stock Basis, Basis adjustment. 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Tax correction form Restricted stock, Dividends received on restricted stock. Tax correction form Rights, Distributions of Stock and Stock Rights, Stock rights. Tax correction form , Nontaxable stock rights. Tax correction form S corporations, S corporation stock. Tax correction form Sales to ESOPs or cooperatives, Sales of Stock to ESOPs or Certain Cooperatives Small business, Qualified small business stock. Tax correction form , Qualified small business stock. Tax correction form Specialized small business investment company, Specialized small business investment company stock or partnership interest. Tax correction form Splits, Stock splits. Tax correction form Straddles (see Straddles) Stripped preferred stock, Stripped Preferred Stock Surrender of, Surrender of stock. Tax correction form Trades, Stock for stock of the same corporation. Tax correction form Trust instruments treated as, Certain trust instruments treated as stock. Tax correction form Straddles, Straddles, Interest expense and carrying charges relating to mixed straddle account positions. Tax correction form Holding period, Holding Period and Loss Treatment Rules Interest expense and carrying charges, Interest expense and carrying charges on straddles. Tax correction form Loss deferral rules, Loss Deferral Rules Mixed, Mixed straddles. Tax correction form , Mixed straddles. Tax correction form , Mixed Straddle Elections Reporting requirements, Section 1256 contracts and straddles. Tax correction form Stripped bonds and coupons, Stripped bonds or coupons. Tax correction form , Stripped Bonds and Coupons, Stripped tax-exempt obligation. Tax correction form Stripped preferred stock, Stripped Preferred Stock Substitute payments, Reporting Substitute Payments T Tables Capital gains maximum rate (Table 4-4), Table 4-4. Tax correction form What Is Your Maximum Capital Gain Rate? Income tax treaties (Table 1-3), Qualified Dividends Investment income, reporting of (Table 1-1), Table 1-1. Tax correction form Where To Report Common Types of Investment Income Puts and calls (Table 4-3), Table 4-3. Tax correction form Puts and Calls U. Tax correction form S. Tax correction form savings bonds, person responsible for tax (Table 1-2), Table 1-2. Tax correction form Who Pays the Tax on U. Tax correction form S. Tax correction form Savings Bond Interest Tax credit bonds, Tax credit bonds. Tax correction form Tax help, How To Get Tax Help Tax rates, What's New Capital gain and losses, Capital Gain Tax Rates Tax refunds Interest on, Interest on tax refunds. Tax correction form Tax shelters, Tax Shelters and Other Reportable Transactions, Whether To Invest Penalties, Penalties Reporting requirements, Investor Reporting Rules to curb abuse, Rules To Curb Abusive Tax Shelters Tax-exempt bonds, Tax-exempt state and local government bonds. Tax correction form Tax-exempt income Expenses of, Tax-exempt income. Tax correction form Interest, Tax-Exempt Interest, Reporting tax-exempt interest. Tax correction form Tax-exempt obligations, Tax-Exempt Interest, Stripped tax-exempt obligations. Tax correction form , Discounted tax-exempt obligations. Tax correction form Taxable income, expenses of, Expenses for both tax-exempt and taxable income. Tax correction form Taxes State and local transfer, State and local transfer taxes. Tax correction form State income, State income taxes. Tax correction form Term loans, Term loans. Tax correction form Trade or business, Passive activity. Tax correction form Traders in securities, Special Rules for Traders in Securities Trades Insurance, Insurance Policies and Annuities Investment property, Sales and Trades of Investment Property Like-kind, Like-Kind Exchanges, Like-Kind Exchanges Nontaxable, Property Received in Nontaxable Trades, Nontaxable Trades, Nontaxable trades. Tax correction form Reporting requirements, How To Report Stock, Stock for stock of the same corporation. Tax correction form Taxable, Property Received in Taxable Trades U. Tax correction form S. Tax correction form Treasury notes or bonds, U. Tax correction form S. Tax correction form Treasury Notes or Bonds Treasury bills, notes, and bonds (see U. Tax correction form S. Tax correction form Treasury bills, notes, and bonds) Treasury inflation-indexed securities, Inflation-Indexed Debt Instruments Treasury inflation-protected securities (TIPS), Treasury inflation-protected securities (TIPS). Tax correction form , Inflation-Indexed Debt Instruments Treaties, income tax (Table 1-3), Qualified Dividends Trust income received by beneficiary, Beneficiary of an estate or trust. Tax correction form Trustee's commission for revocable trust, Trustee's commissions for revocable trust. Tax correction form U U. Tax correction form S. Tax correction form savings bonds, U. Tax correction form S. 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The Individual Shared Responsibility Provision

Under the Affordable Care Act, the Federal government, State governments, insurers, employers, and individuals share the responsibility for health insurance coverage beginning in 2014. Many people already have qualifying health insurance coverage (called minimum essential coverage) and do not need to do anything more than maintain that coverage.

The individual shared responsibility provision requires you and each member of your family to either:

  • Have minimum essential coverage, or
  • Have an exemption from the responsibility to have minimum essential coverage, or
  • Make a shared responsibility payment when you file your 2014 federal income tax return in 2015.  

You will report minimum essential coverage, report exemptions, or make any individual shared responsibility payment when you file your 2014 federal income tax return in 2015.

Minimum Essential Coverage

 

If you and your family need to acquire minimum essential coverage, you may have several options.  They include:

  • Health insurance coverage provided by your employer,
  • Health insurance purchased through the Health Insurance Marketplace in the area where you live, where you may qualify for financial assistance,
  • Coverage provided under a government-sponsored program for which you are eligible (including Medicare, Medicaid, and health care programs for veterans),
  • Health insurance purchased directly from an insurance company, and
  • Other health insurance coverage that is recognized by the Department of Health & Human Services as minimum essential coverage.

U.S. citizens who are residents of a foreign country for an entire year, and residents of U.S. territories, are deemed to have minimum essential coverage. See questions 11 and 12 of our Questions and Answers for more information.  

For purposes of the individual shared responsibility payment, you are considered to have minimum essential coverage for the entire month as long as you have minimum essential coverage for at least one day during that month. For example, if you start a new job on June 26 and are covered under your employer’s health coverage starting on that day, you’re treated as having coverage for the entire month of June. Similarly, if you’re eligible for an exemption for any one day of a month, you’re treated as exempt for the entire month.

For more information about minimum essential coverage, check this minimum essential coverage chart and see questions 14-20 of our Questions and Answers.  

You can learn more at HealthCare.gov about which health insurance options are available to you, how to purchase health insurance coverage, and how to get financial assistance with the cost of insurance. If you purchase health insurance through the Marketplace and you meet certain requirements, you may be eligible for a premium tax credit to help pay your premiums. Learn more about the premium tax credit. The deadline for the initial open enrollment period is March 31, 2014. You may also qualify for a special enrollment period (e.g., you move to a different state). See HealthCare.gov to learn about special enrollment periods.

Exemptions

 

You may be exempt from the requirement to maintain minimum essential coverage and thus will not have to make a shared responsibility payment when you file your 2014 federal income tax return in 2015, if you meet certain criteria.

You may be exempt if you:

  • Have no affordable coverage options because the minimum amount you must pay for the annual premiums is more than eight percent of your household income,
  • Have a gap in coverage for less than three consecutive months, or
  • Qualify for an exemption for one of several other reasons, including having a hardship that prevents you from obtaining coverage, or belonging to a group explicitly exempt from the requirement.

Because of the Affordable Care Act, more Americans have access to coverage that is affordable. However, if there is no coverage available to you and your family that costs less than eight percent of your household income, you can qualify for an exemption.  

An exemption applies to individuals who purchase their insurance through the Marketplace during the initial enrollment period for 2014, which runs through March 31, 2014. This hardship exemption will apply from January 1, 2014, until the start of your health care coverage, which if you enroll between March 16 and March 31 would generally be May 1. (See this HHS Question and Answer  for more information.) Another hardship exemption may apply if you have been notified that your health insurance policy will not be renewed and you consider the other plans available to you unaffordable. (See this HHS guidance and Questions and Answers  for more information.)

How you get an exemption depends upon the type of exemption for which you are eligible. You can obtain some exemptions only from the Marketplace, others only from the IRS, and yet others from either the Marketplace or the IRS. 

Learn more about exemptions in this chart and in questions 21-24 of our Questions and Answers. Also, see Healthcare.gov for more information on hardship exemptions.

Reporting Coverage or Exemptions

 

The individual shared responsibility provision goes into effect in 2014. You won’t need to report minimum essential coverage or exemptions or make any individual shared responsibility payment until you file your 2014 federal income tax return in 2015. Information will be made available later about how to report your coverage or exemption (or make a payment) on your 2014 income tax return.

Making a Payment

 

If you or any of your dependents don’t have minimum essential coverage and don’t have an exemption, you will need to make an individual shared responsibility payment on your tax return. It is important to remember that choosing to make the individual shared responsibility payment instead of purchasing minimum essential coverage means you will also have to pay the entire cost of all your medical care. You won't be protected from the kind of very high medical bills that can sometimes lead to bankruptcy.

If you must make an individual shared responsibility payment, the annual payment amount is the greater of a percentage of your household income or a flat dollar amount, but is capped at the national average premium for a bronze level health plan available through the Marketplace. You will owe 1/12th of the annual payment for each month you or your dependent(s) don’t have either coverage or an exemption.

For 2014, the annual payment amount is:

  • The greater of:
    • 1 percent of your household income that is above the tax return filing threshold for your filing status, or
    • Your family's flat dollar amount, which is $95 per adult and $47.50 per child, limited to a family maximum of $285,
  • But capped at the cost of the national average premium for a bronze level health plan available through the Marketplace in 2014.

Check out these basic examples of the payment calculation and the federal tax filing requirement thresholds. For more detailed examples, see the individual shared responsibility provision final regulations.

The percentages and flat dollar amounts increase over the first three years. In 2015, the income percentage increases to 2 percent of household income and the flat dollar amount increases to $325 per adult ($162.50 per child under 18). In 2016, these figures increase to 2.5 percent of household income and $695 per adult ($347.50 per child under 18). After 2016, these figures increase with inflation. 

Information will be made available later about how you will account for the payment on your 2014 federal income tax return filed in 2015.

More Information

 

More detailed information about the individual shared responsibility provision is available in our Questions and Answers. The Department of the Treasury and the IRS have issued the following legal guidance related to the individual shared responsibility provision, including detailed examples of the payment calculation:

  • Final regulations on the individual shared responsibility provision.
  • Notice 2013-42, which provides transition relief from the individual shared responsibility provision for employees and their families who are eligible to enroll in employer-sponsored health plans with a plan year other than a calendar year if the plan year begins in 2013 and ends in 2014.
  • Proposed regulations on minimum essential coverage and other rules regarding the shared responsibility provision.
  • Notice 2014-10, which provides transition relief for individuals enrolled in coverage under certain limited-benefit Medicaid and TRICARE programs that are not minimum essential coverage.

Additional information on exemptions and minimum essential coverage is available in final regulations issued by the Department of Health & Human Services.

Page Last Reviewed or Updated: 25-Mar-2014

The Tax Correction Form

Tax correction form Index A Assistance (see Tax help) C Capital construction fund, Capital Construction Fund Comments, Comments and suggestions. Tax correction form F Free tax services, How To Get Tax Help H Help (see Tax help) M More information (see Tax help) P Publications (see Tax help) S Suggestions, Comments and suggestions. Tax correction form T Tax help, How To Get Tax Help Taxpayer Advocate, Contacting your Taxpayer Advocate. Tax correction form TTY/TDD information, How To Get Tax Help Prev  Up     Home   More Online Publications