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Tax Extension 2011

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Tax Extension 2011

Tax extension 2011 37. Tax extension 2011   Otros Créditos Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Créditos no ReembolsablesCrédito por Adopción Crédito por Vehículo Motorizado Alternativo Crédito por Bienes de Reabastecimiento de Vehículos con Combustible Alternativo Crédito para Titulares de Bonos de Crédito Tributario Crédito por Impuestos Extranjeros Crédito por Intereses Hipotecarios Crédito no Reembolsable del Impuesto Mínimo de Años Anteriores Crédito por Vehículos Enchufables con Motor de Dirección Eléctrica Créditos por Energía de la Propiedad Residencial Crédito por Aportaciones a Cuentas de Ahorro para la Jubilación (Crédito del Ahorrador) Créditos ReembolsablesCrédito por el Impuesto sobre Ganancias de Capital no Distribuidas Crédito Tributario por Cobertura del Seguro Médico Crédito por Retención en Exceso del Impuesto del Seguro Social o del Impuesto de la Jubilación Ferroviaria Qué Hay de Nuevo Crédito por adopción. Tax extension 2011 . Tax extension 2011  El crédito máximo por adopción es $12,970 para el año 2013. Tax extension 2011 Vea Crédito por Adopción . Tax extension 2011 Crédito por vehículo electrónico enchufable. Tax extension 2011  El crédito por vehículos electrónicos enchufables ha vencido. Tax extension 2011 Crédito reembolsable del impuesto mínimo de años anteriores. Tax extension 2011   La parte reembolsable del crédito del impuesto mínimo alternativo de años anteriores ha vencido. Tax extension 2011 Retención en exceso de los impuestos al Seguro Social y a la jubilación ferroviaria. Tax extension 2011 . Tax extension 2011  Tanto los impuestos al Seguro Social como los impuestos del nivel 1 de jubilación ferroviaria (RRTA, por sus siglas en inglés) fueron retenidos de los salarios hasta el límite de $113,700 a una tasa de 6. Tax extension 2011 2% durante 2013. Tax extension 2011 Si durante 2013, usted trabajó para más de un empleador y se le retuvo demasiado impuesto al Seguro Social o de jubilación ferroviaria, podría tener derecho a un crédito por la retención en exceso. Tax extension 2011 Vea Crédito por Retención en Exceso del Impuesto del Seguro Social o deI Impuesto de la Jubilación Ferroviaria . Tax extension 2011 Introduction Este capítulo trata de los siguientes créditos no reembolsables: Crédito por adopción. Tax extension 2011 Crédito por vehículo motorizado alternativo. Tax extension 2011 Crédito por bienes de reabastecimiento de vehículos con combustible alternativo. Tax extension 2011 Crédito para titulares de bonos de crédito tributario. Tax extension 2011 Crédito por impuestos extranjeros. Tax extension 2011 Crédito por intereses hipotecarios. Tax extension 2011 Crédito no reembolsable del impuesto mínimo de años anteriores. Tax extension 2011 Crédito por vehículos enchufables con motor de dirección eléctrica. Tax extension 2011 Créditos por energía de la propiedad residencial. Tax extension 2011 Crédito por aportaciones a arreglos de ahorros para la jubilación. Tax extension 2011 Este capítulo trata también de los siguientes créditos reembolsables: Crédito por el impuesto sobre ganancias de capital no distribuidas. Tax extension 2011 Crédito tributario por cobertura del seguro médico. Tax extension 2011 Crédito por retención en exceso del impuesto del Seguro Social o del impuesto de la jubilación ferroviaria. Tax extension 2011 En otros capítulos de esta publicación, se explican otros créditos. Tax extension 2011 Crédito por gastos del cuidado de menores y dependientes (capítulo 32). Tax extension 2011 Crédito para ancianos o personas incapacitadas (capítulo 33). Tax extension 2011 Crédito tributario por hijos (capítulo 34). Tax extension 2011 Créditos tributarios por estudios (capítulo 35). Tax extension 2011 Crédito por ingreso del trabajo (capítulo 36). Tax extension 2011 Créditos no reembolsables. Tax extension 2011   La primera parte de este capítulo, Créditos no Reembolsables , abarca diez créditos que se restan de sus impuestos. Tax extension 2011 Puede ser que estos créditos reduzcan los impuestos a cero. Tax extension 2011 Si estos créditos superan el total de sus impuestos, no se le devuelve el excedente. Tax extension 2011 Créditos reembolsables. Tax extension 2011   La segunda parte de este capítulo, Créditos Reembolsables , abarca tres créditos que se consideran pagos y que le pueden ser reembolsados. Tax extension 2011 Estos créditos se agregan a los impuestos federales sobre el ingreso retenidos y todo pago de impuesto estimado que haya hecho. Tax extension 2011 Si el total de éstos es superior al total de los impuestos, se le reembolsará el excedente. Tax extension 2011 Useful Items - You may want to see: Publicación 502 Medical and Dental Expenses (Gastos médicos y dentales), en inglés 514 Foreign Tax Credit for Individuals (Crédito por impuestos del extranjero para personas físicas), en inglés 530 Tax Information for Homeowners (Información tributaria para propietarios de vivienda), en inglés 590 Individual Retirement Arrangements (IRAs) (Arreglos de ahorros para la jubilación (Arreglos IRA)), en inglés Formulario (e Instrucciones) 1116 Foreign Tax Credit (Crédito por impuestos extranjeros), en inglés 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains (Aviso al accionista de ganancias de capital a largo plazo no distribuidas), en inglés 5695 Residential Energy Credits (Créditos por energía de la propiedad residencial), en inglés 8396 Mortgage Interest Credit (Crédito por intereses hipotecarios), en inglés 8801 Credit For Prior Year Minimum Tax – Individuals, Estates, and Trusts (Crédito del impuesto mínimo de años anteriores–personas físicas, caudales hereditarios o fideicomisos), en inglés 8828 Recapture of Federal Mortgage Subsidy (Recuperación del subsidio hipotecario federal), en inglés 8839 Qualified Adoption Expenses (Gastos de adopción calificados), en inglés 8880 Credit for Qualified Retirement Savings Contributions (Crédito por aportaciones calificadas a arreglos de ahorros para la jubilación), en inglés 8885 Health Coverage Tax Credit (Crédito tributario por cobertura del seguro médico), en inglés 8910 Alternative Motor Vehicle Credit (Crédito por vehículo motorizado alternativo), en inglés 8911 Alternative Fuel Vehicle Refueling Property Credit (Crédito por bienes de reabastecimiento de vehículos de combustible alternativo), en inglés 8912 Credit to Holders of Tax Credit Bonds (Crédito para titulares de bonos de crédito tributario), en inglés 8936 Qualified Plug-In Electric Drive Motor Vehicle Credit (Crédito por vehículos enchufables con motor de dirección eléctrica que reúnen los requisitos), en inglés Créditos no Reembolsables Los créditos tratados en esta parte del capítulo pueden reducir los impuestos. Tax extension 2011 No obstante, si el total de estos créditos supera el total de sus impuestos, no se le devuelve el excedente. Tax extension 2011 Crédito por Adopción Tal vez pueda tomar un crédito tributario de hasta $12,970 por gastos calificados que se hayan pagado para adoptar a un niño que reúna los requisitos. Tax extension 2011 El crédito podría permitirse en el caso de la adopción de un niño con necesidades especiales aunque usted no tenga gastos calificados. Tax extension 2011 El crédito se reduce si tiene ingresos brutos modificados (MAGI, por sus siglas en inglés) mayores de $194,580. Tax extension 2011 Si tiene ingresos brutos modificados iguales o mayores de $234,580 no puede reclamar el crédito. Tax extension 2011 Gastos de adopción calificados. Tax extension 2011   Los gastos de adopción calificados son gastos razonables y necesarios directamente relacionados con la adopción legal de un hijo que reúna los requisitos y cuyo fin sea la adopción legal. Tax extension 2011 Dichos gastos abarcan: Honorarios de adopción, Costos judiciales, Honorarios de abogado, Gastos de viaje (incluyendo gastos de comida y alojamiento) mientras esté fuera de casa y Gastos de readopción para adoptar a un niño extranjero. Tax extension 2011 Gastos no calificados. Tax extension 2011   Los gastos de adopción calificados no abarcan gastos: Que infrinjan la ley estatal o federal, Para llevar a cabo un acuerdo para autorizar los cuidados de un tutor (o padre sustituto), Por la adopción del hijo de su cónyuge, Para los cuales haya recibido fondos conforme a algún programa federal, estatal o local, Permitidos como crédito o deducción conforme a algún otro requisito de los impuestos federales sobre el ingreso o Pagados o reembolsados por su empleador o alguna otra persona u organización. Tax extension 2011 Hijo que reúne los requisitos. Tax extension 2011   El término “hijo que reúne los requisitos” designa a toda persona que: Tenga menos de 18 años de edad o Esté física o mentalmente incapacitada para cuidar de sí misma. Tax extension 2011 Hijo con necesidades especiales. Tax extension 2011   Un hijo con necesidades especiales reúne los requisitos si se dan las tres condiciones siguientes: El hijo fue ciudadano o residente de los Estados Unidos (incluyendo posesiones (territorios no autónomos) de los EE. Tax extension 2011 UU. Tax extension 2011 ) al iniciarse los trámites de adopción. Tax extension 2011 Un estado (incluido el Distrito de Columbia) ha determinado que el hijo no puede o no debe ser devuelto al hogar de sus padres. Tax extension 2011 El estado ha decidido que el hijo no puede ser adoptado a no ser que se les proporcione ayuda a los padres adoptivos. Tax extension 2011 Los factores que los estados usan para llegar a esta determinación incluyen los siguientes: El origen étnico del hijo, La edad del hijo, Si el hijo es miembro de un grupo de minoría o tiene hermanos o hermanas y Si el hijo padece de una afección médica o un impedimento físico, mental o emocional. Tax extension 2011 Cuándo reclamar el crédito. Tax extension 2011   Generalmente, hasta finalizar la adopción, se toma el crédito en el año siguiente al año en el que se hayan ocasionado o pagado los gastos calificados. Tax extension 2011 Si se concluye el proceso de adopción, reclame el crédito en el año en el que se hayan ocasionado o pagado los gastos. Tax extension 2011 Vea las Instrucciones del Formulario 8839 para más información sobre cuándo se debe reclamar el crédito. Tax extension 2011 Hijo extranjero. Tax extension 2011   Si el hijo no es ciudadano o residente de los EE. Tax extension 2011 UU. Tax extension 2011 al empezar los trámites de adopción, usted no puede reclamar el crédito a menos que concluya el proceso de adopción. Tax extension 2011 Todo gasto de adopción que se haya ocasionado o pagado en años anteriores al finalizar el proceso de adopción se considera ocasionado o pagado en el año en que se concluya dicho proceso. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Calcule su crédito no reembolsable de 2013 y cualquier crédito que está traspasando a el 2014 en el Formulario 8839 y adjúntelo a su Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque la casilla c y anote “8839” en la línea que se encuentra junto a esa casilla. Tax extension 2011 Más información. Tax extension 2011   Para información adicional, vea las Instrucciones del Formulario 8839, en inglés. Tax extension 2011 Crédito por Vehículo Motorizado Alternativo Quizás pueda reclamar este crédito si pone en uso un vehículo motorizado de pila de combustible calificado en 2013. Tax extension 2011 Cantidad del crédito. Tax extension 2011   Generalmente, puede basarse en la certificación del fabricante al IRS para saber si un vehículo de cierta marca, modelo y año reúne los requisitos para el crédito y para la cantidad máxima del mismo por el cual reúne los requisitos. Tax extension 2011 Si se trata de un fabricante extranjero, por lo general, puede basarse en la certificación de su distribuidor nacional al IRS. Tax extension 2011    Normalmente, la cantidad del crédito suele ser el 100% del crédito máximo permisible tal y como lo certifique el fabricante (o el distribuidor nacional al IRS). Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Para tomar el crédito, tiene que completar el Formulario 8910 y adjuntarlo al Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque el recuadro c y anote “8910” en la línea al lado de dicho recuadro. Tax extension 2011 Información adicional. Tax extension 2011   Para más información sobre el crédito, vea las Instrucciones del Formulario 8910. Tax extension 2011 Crédito por Bienes de Reabastecimiento de Vehículos con Combustible Alternativo Tal vez pueda tomar un crédito si pone en uso en 2013 bienes de reabastecimiento de vehículos con combustible alternativo calificados. Tax extension 2011 Bienes de reabastecimiento de vehículos de combustible alternativo calificados. Tax extension 2011   Los bienes de reabastecimiento de vehículos de combustible alternativo calificados son aquéllos (que no sean edificios ni los componentes estructurales de los mismos) que se utilicen para cualquiera de los siguientes: Para almacenar o surtir un combustible alternativo en el tanque de combustible de un vehículo de motor propulsado por dicho combustible, pero sólo si el proceso de almacenamiento o reabastecimiento se lleva a cabo en el sitio donde el combustible se coloca en ese tanque. Tax extension 2011 Para recargar un vehículo eléctrico, pero sólo si la propiedad de recarga se encuentra en el lugar donde se recarga el vehículo. Tax extension 2011   Los siguientes son combustibles alternativos: Todo combustible del cual por lo menos el 85% del volumen consiste en uno o más de los siguientes: etanol, gas natural, gas natural comprimido, gas natural licuado, gas licuado de petróleo o hidrógeno. Tax extension 2011 Toda mezcla que consista en dos o más de los siguientes: biodiésel, gasóleo (gasolina diésel) o queroseno y de la cual por lo menos el 20% del volumen consiste en biodiésel según determinado sin tener en cuenta cantidad alguna de queroseno. Tax extension 2011 Electricidad. Tax extension 2011 Cantidad del crédito. Tax extension 2011   Para bienes de uso personal, el crédito suele ser la cantidad menor entre el 30% del costo de dichos bienes o $1,000. Tax extension 2011 Para bienes de uso comercial, el crédito suele ser la cantidad menor entre el 30% del costo de dichos bienes o $30,000. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Para tomar el crédito, tiene que completar el Formulario 8911 y adjuntarlo al Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque el recuadro c y anote “8911” en la línea al lado de dicho recuadro. Tax extension 2011 Información adicional. Tax extension 2011   Para más información sobre el crédito, vea las instrucciones del Formulario 8911, en inglés. Tax extension 2011 Crédito para Titulares de Bonos de Crédito Tributario Los bonos de crédito tributario son bonos de los cuales el titular recibe un crédito tributario en vez de los intereses sobre el bono, o una parte de los mismos. Tax extension 2011 Tal vez pueda reclamar un crédito si es titular de uno de los siguientes bonos: Bonos de energía limpia y renovable (emitidos antes de 2010). Tax extension 2011 Bonos de energía limpia y renovable nuevos. Tax extension 2011 Bonos calificados de ahorro de energía. Tax extension 2011 Bonos calificados de construcción de escuelas. Tax extension 2011 Bonos para zonas de academia calificadas. Tax extension 2011 Bonos de construcción de proyectos públicos en los Estados Unidos (Bonos Build America). Tax extension 2011 En algunos casos, un emisor puede optar por recibir un crédito correspondiente a los intereses pagados sobre el bono. Tax extension 2011 Si el emisor elige esta opción, usted no puede también reclamar un crédito. Tax extension 2011 Ingresos procedentes de intereses. Tax extension 2011   La cantidad de todo crédito tributario permitido (calculado antes de aplicarse los límites de responsabilidad tributaria) se tiene que incluir en la declaración como ingresos procedentes de intereses. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Complete el Formulario 8912 y adjúntelo al Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque el recuadro c y anote “8912” en la línea al lado de dicho recuadro. Tax extension 2011 Información adicional. Tax extension 2011   Para más información, vea las Instrucciones del Formulario 8912, en inglés. Tax extension 2011 Crédito por Impuestos Extranjeros Generalmente, puede optar por declarar un crédito por los impuestos sobre el ingreso pagados o acumulados por usted a lo largo del año a un país extranjero o posesión (territorio no autónomo) de los Estados Unidos, aplicándolo como crédito contra el impuesto sobre el ingreso de los Estados Unidos. Tax extension 2011 O puede deducirlos como una deducción detallada (vea el capítulo 22). Tax extension 2011 No puede reclamar un crédito (ni una deducción) por impuestos sobre el ingreso extranjero pagado sobre ingresos que se excluyan del impuesto de los EE. Tax extension 2011 UU. Tax extension 2011 en los siguientes casos: Exclusión de ingresos ganados de fuentes en el extranjero. Tax extension 2011 Exclusión por concepto de vivienda en el extranjero. Tax extension 2011 Ingresos de fuentes en Puerto Rico exentos de impuestos de los Estados Unidos. Tax extension 2011 Exclusión en las posesiones (territorios no autónomos) de los Estados Unidos. Tax extension 2011 Límite del crédito. Tax extension 2011   A menos que decida no presentar el Formulario 1116 (vea Excepción , más adelante), el crédito por impuestos extranjeros pagados no puede superar los impuestos a pagar al gobierno de los Estados Unidos (línea 44 del Formulario 1040), multiplicados por una fracción. Tax extension 2011 El numerador de esta fracción será los ingresos tributables de fuentes fuera de los Estados Unidos. Tax extension 2011 El denominador será el total de los ingresos tributables de fuentes en los Estados Unidos y en el extranjero. Tax extension 2011 Vea la Publicación 514, en inglés, para más información. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Complete el Formulario 1116 y adjúntelo al Formulario 1040. Tax extension 2011 Anote el crédito en la línea 47 del Formulario 1040. Tax extension 2011 Excepción. Tax extension 2011   No necesita llenar el Formulario 1116 para reclamar el crédito si se dan todas las siguientes condiciones: Todos sus ingresos brutos de fuentes en el extranjero provienen de intereses y dividendos y dichos ingresos en su totalidad más los impuestos extranjeros que se pagaron sobre esos ingresos se les informaron a usted en el Formulario 1099-INT, Formulario 1099-DIV o en el Anexo K-1 (o un documento similar sustitutivo). Tax extension 2011 Si usted tuvo ingreso de dividendos provenientes de participación en acciones, usted mantuvo en tenencia dichas acciones por lo menos 16 dias. Tax extension 2011 No está presentando el Formulario 4563 ni excluyendo ingresos provenientes de fuentes en Puerto Rico. Tax extension 2011 El total de los impuestos extranjeros no era superior a $300 ($600 si es casado que presenta una declaración conjunta). Tax extension 2011 Todos sus impuestos extranjeros fueron: Adeudados legalmente y no reunían los requisitos para un reembolso y Pagados a países que son reconocidos como tal por los Estados Unidos y que no apoyan el terrorismo. Tax extension 2011 Más información. Tax extension 2011   Para información más detallada acerca del crédito y estos requisitos, vea las Instrucciones del Formulario 1116, en inglés. Tax extension 2011 Crédito por Intereses Hipotecarios El crédito por intereses hipotecarios tiene la finalidad de ayudar a personas de bajos recursos a comprar una vivienda. Tax extension 2011 Si reúne los requisitos, puede reclamar el crédito cada año para una parte de los intereses hipotecarios de vivienda que pague. Tax extension 2011 Quién reúne los requisitos. Tax extension 2011   Tal vez pueda reclamar el crédito si un gobierno estatal o local le emitió un certificado de crédito hipotecario que reúne los requisitos (MCC, por sus siglas en inglés). Tax extension 2011 Generalmente, un MCC se emite sólo en relación con una nueva hipoteca para la compra de su vivienda principal. Tax extension 2011 Cantidad del crédito. Tax extension 2011   Calcule su crédito en el Formulario 8396. Tax extension 2011 Si la cantidad del préstamo hipotecario es igual (o menor que) a la cantidad adeudada confirmada (préstamo) que aparece en el MCC, anote en la línea 1 del Formulario 8396 todos los intereses que haya pagado sobre la hipoteca durante el año. Tax extension 2011   Si la cantidad del préstamo hipotecario es mayor que la cantidad adeudada confirmada que aparece en el MCC, puede calcular el crédito sólo sobre una parte de los intereses que haya pagado. Tax extension 2011 Para encontrar la cantidad que debe anotar en la línea 1, multiplique por la siguiente fracción el total de los intereses que haya pagado sobre una hipoteca a lo largo del año. Tax extension 2011      Cantidad adeudada confirmada que aparece en el MCC     Cantidad original de la hipoteca      Límite basado en la tasa de crédito. Tax extension 2011   Si la tasa de crédito del certificado es superior al 20%, el crédito que se le permita no puede sobrepasar $2,000. Tax extension 2011 Si dos o más personas (que no sean un matrimonio que presente una declaración conjunta) tienen una participación en la vivienda a la que se refiere el MCC, este límite de $2,000 tiene que dividirse según la participación de cada persona. Tax extension 2011 Vea la Publicación 530, en inglés, para información adicional. Tax extension 2011 Traspasos a un año posterior. Tax extension 2011   El crédito (luego de aplicar el límite basado en la tasa de crédito) también está sujeto a un límite basado en el impuesto calculado en el Formulario 8396. Tax extension 2011 Si el crédito permitido disminuye a causa de este límite sobre los impuestos adeudados, puede traspasar la parte del crédito que no haya utilizado a los 3 próximos años o hasta que se utilice en su totalidad, lo que ocurra primero. Tax extension 2011   Si está sujeto al límite de los $2,000 debido a que la tasa de crédito del certificado es superior al 20%, no puede traspasar a un año posterior ninguna cantidad superior a $2,000 (o, en el caso de que tenga que dividir el crédito, la parte de los $2,000 que le corresponda). Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011    Calcule el crédito de 2013, y toda cantidad que se haya traspasado a 2014, en el Formulario 8396 y adjúntelo al Formulario 1040. Tax extension 2011 Cerciórese de incluir todo crédito traspasado, correspondiente a 2010, 2011 y 2012. Tax extension 2011   Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque el recuadro c y escriba “8396” en la línea al lado de dicho recuadro. Tax extension 2011 Reducción de la deducción por intereses sobre una hipoteca de vivienda. Tax extension 2011   Si detalla sus deducciones en el Anexo A del Formulario 1040, tiene que restar la cantidad del crédito por intereses hipotecarios, indicada en la línea 3 del Formulario 8396, de la deducción por intereses sobre una hipoteca de vivienda. Tax extension 2011 Tiene que hacerlo aunque parte de dicha cantidad se traspase a 2014. Tax extension 2011 Para más información sobre la deducción por intereses sobre una hipoteca de vivienda, vea el capítulo 23. Tax extension 2011 Recuperación del subsidio hipotecario federal. Tax extension 2011   Si recibió un MCC junto con el préstamo hipotecario, podría verse obligado a recuperar (reintegrar) todo o parte del beneficio que haya recibido de ese programa. Tax extension 2011 Se le podría exigir esta recuperación si vende o enajena su vivienda con ganancias durante los 9 años siguientes al cierre de su préstamo hipotecario. Tax extension 2011 Vea las Instrucciones para el Formulario 8828, disponibles en inglés, y el capítulo 15 para más información. Tax extension 2011 Más información. Tax extension 2011   Para información más detallada acerca del crédito, vea las instrucciones del Formulario 8396, en inglés. Tax extension 2011 Crédito no Reembolsable del Impuesto Mínimo de Años Anteriores La ley tributaria concede un trato especial a ciertos tipos de ingresos y permite deducciones y créditos especiales para algunos tipos de gastos. Tax extension 2011 Si se beneficia de estas leyes, podría verse obligado a pagar por lo menos una cantidad mínima de impuestos además de cualquier otro impuesto sobre estas partidas. Tax extension 2011 A esto se le llama impuesto mínimo alternativo (AMT, por sus siglas en inglés). Tax extension 2011 El trato especial de ciertas partidas de ingresos y gastos sólo le permite aplazar el pago de los impuestos hasta un año posterior. Tax extension 2011 Si pagó el impuesto mínimo alternativo en años anteriores a causa de estas partidas tributarias postergadas, tal vez pueda reclamar un crédito por el impuesto mínimo de años anteriores, a favor del impuesto habitual del año en curso. Tax extension 2011 Quizás pueda reclamar un crédito y aplicarlo a favor del impuesto habitual si en 2012 tuvo: Impuesto mínimo alternativo adeudado y ajustes o partidas con beneficio tributario que no sean conceptos a excluirse, Un crédito del impuesto mínimo que traspase a 2013 o Un crédito no permitido por vehículos eléctricos calificados. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011    Calcule el crédito no reembolsable de 2013 (de haberlo), y toda cantidad que se haya traspasado a 2014, en el Formulario 8801 y adjúntelo al Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040 y marque el recuadro b. Tax extension 2011 Puede traspasar a años posteriores, hasta agotarlo, todo crédito del impuesto mínimo de años anteriores que no se haya utilizado. Tax extension 2011 Información adicional. Tax extension 2011   Para más información sobre el crédito, vea las Instrucciones del Formulario 8801, en inglés. Tax extension 2011 Crédito por Vehículos Enchufables con Motor de Dirección Eléctrica Es posible que pueda tomar este crédito si, en 2013, puso en uso por fines de negocios o personales un vehículo enchufable con motor de dirección eléctrica o un vehículo eléctrico enchufable de dos o tres ruedas y dicho vehículo reúne los requisitos. Tax extension 2011 Vehículos enchufables con motor de dirección eléctrica y que reúnen los requisitos. Tax extension 2011   El vehículo reúne los requisitos si es un vehículo nuevo con, por lo menos, cuatro llantas que: Es impulsado en su mayoría por un motor eléctrico que funciona con electricidad generada por una batería que tenga una capacidad de no menos de 4 kilovatios-horas y se puede recargar mediante una fuente externa de energía y El peso bruto del vehículo es menos de 14,000 libras. Tax extension 2011 Vehículos eléctricos enchufables de dos o tres ruedas que reúnen los requisitos. Tax extension 2011   El vehículo reúne los requisitos si es un vehículo nuevo con dos o tres ruedas que: Tiene la capacidad de llegar a una velocidad de 45 millas por hora o más, Es impulsado en su mayoría por un motor eléctrico que funciona con electricidad generada por una batería que tenga una capacidad de no menos de 2. Tax extension 2011 5 kilovatios-horas y se puede recargar mediante una fuente externa de energía y El peso bruto del vehículo es menos de 14,000 libras. Tax extension 2011 Certificación y otros requisitos   Generalmente, puede basarse en la certificación del fabricante al IRS (o en el caso de un fabricante extranjero, en la certificación del distribuidor doméstico) para saber si la marca, modelo y años específicos de un vehículo reúnen los requisitos del crédito y, si es aplicable, la cantidad del crédito para el cual califica. Tax extension 2011 Sin embargo, si el IRS publica un aviso anunciando que la certificación de alguna marca, modelo y año ha sido retirada, usted no puede basarse en la certificación del vehículo si fue comprado después de la fecha de la publicación del aviso del retiro. Tax extension 2011   También tiene que cumplir los requisitos siguientes para calificar para el crédito: Usted es el dueño del vehículo. Tax extension 2011 Si el vehículo es arrendado, sólo el arrendador, y no el arrendatario, tiene derecho al crédito. Tax extension 2011 El vehículo fue puesto en servicio en 2013. Tax extension 2011 El vehículo es fabricado principalmente para uso en calles, caminos y carreteras públicas. Tax extension 2011 El uso original del vehículo comenzó con usted. Tax extension 2011 Adquirió el vehículo para utilizarlo usted mismo o para el arrendamiento a un tercero y no para revenderlo. Tax extension 2011 En el caso de un vehículo eléctrico enchufable de dos o tres ruedas que reúna los requisitos, el vehículo tiene que haber sido adquirido después de 2011 y antes de 2014. Tax extension 2011 Utiliza el vehículo principalmente en los Estados Unidos. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Para tomar el crédito, tiene que completar el Formulario 8936 y adjuntarlo a su Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 53 del Formulario 1040. Tax extension 2011 Marque el recuadro c y anote “8936” en la línea al lado de dicho recuadro. Tax extension 2011    Más información. Tax extension 2011   Para más información acerca del crédito, vea las instrucciones del Formulario 8936, en inglés. Tax extension 2011 Créditos por Energía de la Propiedad Residencial Podría tener derecho a uno o los dos siguientes créditos si hizo mejoras para conservar energía en su vivienda ubicada en los Estados Unidos en 2013. Tax extension 2011 Crédito tributario por energía de la propiedad no empresarial. Tax extension 2011 Crédito de eficiencia energética para propiedades residenciales. Tax extension 2011 Si es integrante de un comité de administración de condominios para un condominio del que sea dueño o inquilino-accionista de una sociedad anónima de cooperativa de viviendas, se considera que ha pagado la parte proporcionada que le corresponde de todo costo de tal comité o sociedad anónima para fines de estos créditos. Tax extension 2011 Crédito tributario por energía de la propiedad no empresarial. Tax extension 2011   Tal vez pueda tomar un crédito igual a la suma de: El 10% de los costos pagados para mejoras de eficiencia energética instaladas en 2013 y Todo costo pagado o incurrido para energía de la propiedad residencial en 2013. Tax extension 2011   Existe un límite vitalicio de $500 para todos los años posteriores al año 2005, de lo que sólo $200 pueden ser por ventanas; $50 por un ventilador de circulación de aire principal avanzado; $150 por un calentador de agua a base de gas natural propano o petróleo; y $300 por cualquier artículo de eficiencia energética para propiedades residenciales. Tax extension 2011 Si la cantidad total de los créditos tributarios por energía de la propiedad no empresarial que ha tomado en años previos (después del 2005) es más de $500, no puede tomar este crédito en el año 2013. Tax extension 2011 Las mejoras de eficiencia energética que reúnen los requisitos son las siguientes mejoras siempre y cuando sean nuevas, se espere que sigan en uso por lo menos 5 años y cumplan determinados requisitos de la eficiencia energética: Todo material aislante o sistema que haya sido diseñado expresa y principalmente para reducir la pérdida o el aumento de temperatura (calentamiento) en una vivienda. Tax extension 2011 Ventanas exteriores (incluidos tragaluces). Tax extension 2011 Puertas exteriores. Tax extension 2011 Todo techo de metal o asfalto que tenga capas pigmentadas o gránulos de enfriamiento adecuados que hayan sido diseñados expresa y principalmente para reducir el aumento de temperatura (calentamiento) de la vivienda. Tax extension 2011 Se considera que la propiedad de energía residencial es cualquiera de los siguientes aparatos: Determinados calentadores eléctricos de agua con bomba de calor, bombas de calor eléctricas, acondicionadores de aire centrales, calentadores de agua a gas natural, propano o petróleo; y estufas que consumen combustibles de biomasa. Tax extension 2011 Calderas de gas natural, propano o petróleo que reúnen los requisitos; y calderas de agua caliente a gas natural, propano o petróleo que reúnen los requisitos. Tax extension 2011 Determinados ventiladores de circulación de aire principal avanzados que sean componentes de las calderas de gas natural, propano o petróleo. Tax extension 2011 Crédito por energía eficaz de la propiedad residencial. Tax extension 2011   Quizás pueda tomar un crédito del 30% de los costos de propiedad eléctrica de energía solar, propiedad de calentamiento de agua por energía solar, propiedad de pilas de combustible, propiedad eólica de menor tamaño y propiedad de bomba de calor geotérmico. Tax extension 2011 En el caso de costos pagados por propiedad de pilas de combustible que reúne los requisitos, la cantidad del crédito está limitada a $500 por cada medio kilovatio de capacidad de dicha propiedad. Tax extension 2011 Reducción en la base. Tax extension 2011   Tiene que reducir la base de su vivienda por la cantidad de todo crédito permitido. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Complete el Formulario 5695 y adjúntelo al Formulario 1040. Tax extension 2011 Anote el crédito en la línea 52 del Formulario 1040. Tax extension 2011 Información adicional. Tax extension 2011   Para más información sobre estos créditos, vea las instrucciones del Formulario 5695, en inglés. Tax extension 2011 Crédito por Aportaciones a Cuentas de Ahorro para la Jubilación (Crédito del Ahorrador) Podría reclamar este crédito si usted, o su cónyuge si presenta una declaración conjunta, hizo: Aportaciones (que no sean reinversiones) a un arreglo IRA tradicional o un arreglo Roth IRA, Aplazamientos optativos a un plan conforme a la sección 401(k) o 403(b) (incluidas aportaciones a un arreglo designado Roth) o a un plan SEP, SIMPLE o plan gubernamental conforme a la sección 457, Aportaciones voluntarias del empleado a un plan de jubilación que reúna los requisitos (incluido el Thrift Savings Plan (Cuenta de Ahorros de Jubilación) para empleados del gobierno federal) o Aportaciones a un plan conforme a la sección 501(c)(18)(D). Tax extension 2011 No obstante, no puede reclamar el crédito si se da cualquiera de las siguientes situaciones: La cantidad de la línea 38 del Formulario 1040 o de la línea 22 del Formulario 1040A es mayor de $29,500 ($44,250 si es cabeza de familia; $59,000 si es casado que presenta una declaración conjunta). Tax extension 2011 La persona que hizo la aportación o el aplazamiento optativo que reúne los requisitos (a) nació después del 1 de enero de 1996, (b) ha sido declarado como dependiente en la declaración de impuestos de 2013 de otra persona o (c) era estudiante (se define a continuación). Tax extension 2011 Estudiante. Tax extension 2011   Usted era estudiante si, durante alguna parte de cada uno de 5 meses del año natural de 2013: Estaba matriculado en una escuela como estudiante a tiempo completo o Tomó un curso a tiempo completo de capacitación agrícola ofrecido en terreno por una escuela o por una agencia del estado, condado o gobierno local. Tax extension 2011 Escuela. Tax extension 2011   El término “escuela” abarca escuelas politécnicas, profesionales e industriales. Tax extension 2011 Una escuela no incluye un curso de capacitación en el trabajo, escuela por correspondencia, ni escuelas que ofrecen cursos sólo por Internet. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Calcule el crédito en el Formulario 8880. Tax extension 2011 Anote el crédito en la línea 50 del Formulario 1040 o la línea 32 del Formulario 1040A y adjunte el Formulario 8880 a su declaración. Tax extension 2011 Más información. Tax extension 2011   Para más información sobre el crédito, vea las instrucciones del Formulario 8880, disponibles en inglés. Tax extension 2011 Créditos Reembolsables Los créditos explicados en esta parte del capítulo se tratan como pagos de impuestos. Tax extension 2011 Si el total de estos créditos, impuestos federales sobre el ingreso retenidos y pagos de su impuesto estimado es mayor al total de sus impuestos, se le puede reembolsar el excedente. Tax extension 2011 Crédito por el Impuesto sobre Ganancias de Capital no Distribuidas Tiene que incluir en los ingresos toda cantidad que le hayan asignado sociedades inversionistas reglamentadas (comúnmente llamadas fondos mutuos) o sociedades de inversión inmobiliaria (REIT, por sus siglas en inglés) como distribuciones de ganancias de capital, aunque de hecho no la haya recibido. Tax extension 2011 Si el fondo mutuo o sociedad de inversión inmobiliaria pagó impuestos sobre la ganancia de capital, se le permite un crédito por los impuestos ya que se considera que usted lo pagó. Tax extension 2011 El fondo mutuo o sociedad de inversión inmobiliaria le enviará el Formulario 2439 indicando su parte de las ganancias de capital no distribuidas y los impuestos pagados, de haberlos. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Para reclamar el crédito, adjunte la Copia B del Formulario 2439 a su Formulario 1040. Tax extension 2011 Incluya la cantidad de la casilla 2 de su Formulario 2439 en el total de la línea 71 del Formulario 1040 y marque la casilla a. Tax extension 2011 Más información. Tax extension 2011   Vea Distribuciones de Ganancias de Capital , en el capítulo 8 para más información sobre ganancias de capital no distribuidas. Tax extension 2011 Crédito Tributario por Cobertura del Seguro Médico Tal vez pueda reclamar este crédito para cualquier mes en el que se cumplan todos los siguientes requisitos el primer día del mes: Tenía derecho, como beneficiario, a recibir pagos de asistencia de ajuste comercial (TAA, por sus siglas en inglés), pagos de asistencia alternativa de ajuste comercial (ATAA, por sus siglas en inglés), pagos de asistencia de ajuste comercial relacionados con el reempleo (RTAA, por sus siglas en inglés) o una pensión de la Pension Benefit Guaranty Corporation (Corporación de garantía de beneficios de pensiones o PBGC, por sus siglas en inglés, y definida más adelante); o si era un miembro calificado de la familia de uno de estos individuos cuando dicho individuo falleció o cuando se finalizó su divorcio con uno de estos individuos. Tax extension 2011 Usted y/o los miembros de su familia estaban cubiertos por un plan de seguro médico que reúne los requisitos y por el cual pagó la totalidad de las primas o su parte correspondiente directamente a dicho plan o al U. Tax extension 2011 S. Tax extension 2011 Treasury— HCTC (Tesoro de los Estados Unidos, Crédito por cobertura del seguro médico). Tax extension 2011 No estaba inscrito en la Parte A, B o C del seguro Medicare o estaba inscrito en el programa Medicare pero su familia reunió los requisitos para el HCTC. Tax extension 2011 No estaba inscrito en el programa Medicaid ni en el Children's Health Insurance Program (Programa de seguro médico para niños, (CHIP, por sus siglas en inglés)). Tax extension 2011 No estaba inscrito en el programa Federal Employees Health Benefits (Seguro médico para empleados federales o FEHBP, por sus siglas en inglés) ni tenía derecho a recibir beneficios conforme al sistema médico militar de los EE. Tax extension 2011 UU. Tax extension 2011 (conocido en inglés como TRICARE). Tax extension 2011 No estaba encarcelado por las autoridades federales, estatales o locales. Tax extension 2011 Su empleador no pagó el 50% o más del costo de la cobertura. Tax extension 2011 No recibió una reducción del 65% de una prima de COBRA de parte de su antiguo empleador o administrador de COBRA. Tax extension 2011 Sin embargo, no puede tomar el crédito si otra persona lo puede reclamar a usted como dependiente en su declaración de impuestos de 2013. Tax extension 2011 Si cumple todas estas condiciones, tal vez pueda tomar un crédito de hasta el 72. Tax extension 2011 5% de la cantidad que usted pagó directamente a un plan de salud calificado para usted y todo miembro de familia que reunió los requisitos. Tax extension 2011 No puede tomar el crédito en el caso de primas de seguro sobre cobertura si en realidad fueron pagadas mediante una National Emergency Grant (Subvención para Emergencias Nacionales). Tax extension 2011 La cantidad pagada por cobertura de seguro médico calificada tiene que reducirse por toda distribución de una cuenta Archer MSA de ahorros médicos u otra cuenta de ahorros para gastos médicos que se haya utilizado para pagar por dicha cobertura. Tax extension 2011 Puede tomar este crédito y anotarlo en la declaración de impuestos o solicitar que se pague por adelantado en nombre suyo a su compañía de seguros. Tax extension 2011 Si se paga el crédito por adelantado en nombre suyo, aquella cantidad disminuye la cantidad del crédito que se pueda declarar en la declaración de impuestos. Tax extension 2011 Beneficiarios de la TAA. Tax extension 2011   Se considera que tiene derecho a la TAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted: Recibió una asignación por reajuste comercial o Hubiera tenido derecho a recibir una asignación de esta índole salvo que no había agotado todos los derechos al seguro por desempleo (con excepción de toda compensación adicional que se pague con fondos estatales y no se reembolse con fondos federales) que le correspondiera recibir (o correspondería recibir si los solicitara). Tax extension 2011 Ejemplo. Tax extension 2011   Recibió una asignación por ajuste comercial para el mes de enero de 2013. Tax extension 2011 Tenía derecho a recibir la TAA el primer día de enero y febrero. Tax extension 2011 Beneficiarios de la alternativa TAA. Tax extension 2011   Se considera que es un recipiente de la alternativa TAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted recibió beneficios conforme a un programa de asistencia alternativa de ajuste comercial para empleados mayores de edad establecido por el Departamento de Trabajo. Tax extension 2011 Ejemplo. Tax extension 2011   Recibió beneficios conforme a un programa de asistencia alternativa de ajuste comercial para empleados mayores de edad para el mes de octubre de 2013. Tax extension 2011 El Departamento de Trabajo estableció el programa. Tax extension 2011 Tenía derecho como beneficiario a recibir la alternativa TAA el primer día de octubre y noviembre. Tax extension 2011 Beneficiarios de la RTAA. Tax extension 2011   Se considera que tiene derecho a la RTAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted recibió beneficios conforme a un programa de asistencia de ajuste comercial relacionados con el reempleo para empleados mayores establecido por el Departamento de Trabajo. Tax extension 2011 Beneficiarios de una pensión de la PBGC. Tax extension 2011   Se considera que tiene derecho como beneficiario a una pensión de la PBGC el primer día del mes si se dan las dos condiciones siguientes: Tenía 55 años de edad o más el primer día del mes. Tax extension 2011 Recibió beneficios para dicho mes pagados por la PBGC conforme al Título IV de la Employee Retirement Income Security Act of 1974 (Ley de Seguridad de los Ingresos de Jubilación del Empleado de 1974 o ERISA, por sus siglas en inglés). Tax extension 2011 Si recibió un pago de suma global de la PGBC después del 5 de agosto de 2002, cumple el requisito (2) anterior para todo mes en el que habría recibido un beneficio de la PBGC si no hubiese recibido el pago de suma global. Tax extension 2011 Cómo reclamar el crédito. Tax extension 2011   Para tomar el crédito, tiene que completar el Formulario 8885 y adjuntarlo al Formulario 1040. Tax extension 2011 Incluya el crédito en el total de la línea 71 del Formulario 1040 y marque el recuadro c. Tax extension 2011   Tiene que adjuntar cuentas de seguro de salud (o cupones de pago de COBRA) y pruebas de pago correspondientes a toda cantidad que se incluya en la línea 2 del Formulario 8885. Tax extension 2011 Para información adicional, vea la Publicación 502 o el Formulario 8885, ambos en inglés. Tax extension 2011 Más información. Tax extension 2011   Si desea ver las definiciones y los requisitos especiales, incluyendo los que se refieren a planes de seguro médico que reúnan los requisitos, familiares que podrían darle derecho al crédito (familiares calificados), el efecto de determinados sucesos importantes en la vida y planes de seguro médico provistos por el empleador, vea la Publicación 502 y las instrucciones del Formulario 8885, ambas en inglés. Tax extension 2011 Crédito por Retención en Exceso del Impuesto del Seguro Social o del Impuesto de la Jubilación Ferroviaria La mayoría de los empleadores tienen que retener el impuesto del Seguro Social de los salarios de sus empleados. Tax extension 2011 Si trabaja para un empleador ferroviario, dicho empleador tiene que retener el impuesto de jubilación ferroviaria (RRTA, por sus siglas en inglés) de nivel 1 y de nivel 2. Tax extension 2011 Si trabajó para dos o más empleadores en 2013, es posible que hayan retenido de su salario demasiado impuesto del Seguro Social. Tax extension 2011 Si uno o mas de esos empleadores era un empleador ferroviario, también es posible que se le haya retenido demasiado impuesto de jubilación ferroviaria de nivel 1 a la tasa de 6. Tax extension 2011 2%. Tax extension 2011 Puede declarar el impuesto del Seguro Social o impuesto de jubilación ferroviaria de nivel 1 en exceso, aplicándolo como crédito a favor de los impuestos sobre los ingresos cuando presente su declaración. Tax extension 2011 Para el impuesto RRTA de nivel 1, utilice únicamente la porción de impuesto de RRTA de nivel 1 que fue gravado a la tasa impositiva de 6. Tax extension 2011 2% al calcular si el exceso de impuesto de RRTA de nivel 1 fue retenido, no incluya ninguna porción del impuesto de RRTA de nivel 1 que fue retenido a la tasa impositiva de Medicare (1. Tax extension 2011 45%) o al a tasa impositiva del Impuesto Adicional del Medicare (0. Tax extension 2011 9%). Tax extension 2011 En la siguiente tabla aparecen la cantidad máxima de salario sujeto a impuestos y la cantidad máxima de impuestos que debió haberse retenido para 2013. Tax extension 2011 Tipo de impuesto Salario  máximo  sujeto a  impuestos Impuesto máximo que debió haberse retenido Seguro Social o  RRTA de nivel 1 $113,700 $7,049. Tax extension 2011 40 RRTA de nivel 2 $84,300 $3,709. Tax extension 2011 20 Todo salario está sujeto a la retención de impuestos al Medicare. Tax extension 2011   Utilice el Formulario 843, Claim for Refund and Request for Abatement (Solicitud de reembolso y reducción de impuestos), en inglés, para solicitar un reembolso del impuesto en exceso de la jubilación ferroviaria de nivel 2. Tax extension 2011 Cerciórese de adjuntar una copia de todos los Formularios W-2 que tenga. Tax extension 2011 Use la hoja de trabajo 3-3 de la Publicación 505, Tax Withholding and Estimated Tax (Retención de impuestos e impuesto estimado), en inglés, para poder calcular la cantidad en exceso. Tax extension 2011 Error del empleador. Tax extension 2011   Si cualquier empleador le retuvo demasiados impuestos del Seguro Social o de la jubilación ferroviaria de nivel 1, no puede reclamar el exceso y aplicarlo como un crédito a favor de los impuestos sobre el ingreso. Tax extension 2011 El empleador debe ajustarle los impuestos. Tax extension 2011 Si el empleador no ajusta la recaudación en exceso, puede solicitar un reembolso utilizando el Formulario 843. Tax extension 2011 Declaración conjunta. Tax extension 2011   Si presenta una declaración conjunta, no puede añadir a la cantidad retenida de su salario los impuestos del Seguro Social ni los de la jubilación ferroviaria de nivel 1 retenidos del salario de su cónyuge. Tax extension 2011 Calcule por separado la retención que le corresponda a usted y la que corresponda a su cónyuge para determinar si se le han retenido impuestos en exceso a cualquiera de los dos. Tax extension 2011 Cómo calcular el crédito si no trabajó para una empresa ferroviaria. Tax extension 2011   Si no trabajó para una empresa ferroviaria en 2013, calcule el crédito de la siguiente forma: 1. Tax extension 2011 Sume todos los impuestos del Seguro Social retenidos (pero no más de $7,049. Tax extension 2011 40 por cada empleador). Tax extension 2011 Anote el total aquí   2. Tax extension 2011 Anote todo impuesto no retenido del Seguro Social sobre propinas o seguro de vida colectivo a término que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT”   3. Tax extension 2011 Sume las líneas 1 y 2. Tax extension 2011 Si el total es $7,049. Tax extension 2011 40 o menos, no siga. Tax extension 2011 No puede reclamar el crédito   4. Tax extension 2011 Límite sobre los impuestos del Seguro Social 7,049. Tax extension 2011 40 5. Tax extension 2011 Crédito. Tax extension 2011 De la línea 3, reste la línea 4. Tax extension 2011 Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $ Ejemplo. Tax extension 2011 Está casado y presenta una declaración conjunta con su cónyuge quien no recibió ingresos brutos en 2013. Tax extension 2011 Durante 2013, usted trabajó para la empresa Brown Technology Company y ganó un salario de $60,000. Tax extension 2011 Le retuvieron impuestos del Seguro Social de $3,720. Tax extension 2011 También trabajó para otro empleador en 2013 y ganó un salario de $55,000. Tax extension 2011 De dicho salario, le retuvieron $3,410 de impuestos del Seguro Social. Tax extension 2011 Como trabajó para más de un empleador y el total de su salario superó los $113,700, puede tomar un crédito de $80. Tax extension 2011 60 por los impuestos del Seguro Social retenidos en exceso. Tax extension 2011 1. Tax extension 2011 Sume todo impuesto del Seguro Social retenido (pero no más de $7,049. Tax extension 2011 40 por cada empleador). Tax extension 2011 Anote el total aquí $7,130. Tax extension 2011 00 2. Tax extension 2011 Anote todo impuesto no retenido del Seguro Social sobre propinas o seguro de vida colectivo a término que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT” −0− 3. Tax extension 2011 Sume las líneas 1 y 2. Tax extension 2011 Si el total es $7,049. Tax extension 2011 40 o menos, no siga. Tax extension 2011 No puede reclamar el crédito 7,130. Tax extension 2011 00 4. Tax extension 2011 Límite sobre los impuestos del Seguro Social 7,049. Tax extension 2011 40 5. Tax extension 2011 Crédito. Tax extension 2011 De la línea 3, reste la línea 4. Tax extension 2011 Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $80. Tax extension 2011 60 Cómo calcular el crédito si trabajó para una empresa ferroviaria. Tax extension 2011   Si fue empleado ferroviario en algún momento durante 2013, calcule el crédito de la siguiente forma: 1. Tax extension 2011 Sume todos los impuestos del Seguro Social y de la jubilación ferroviaria de nivel 1 retenidos a la tasa de 6. Tax extension 2011 2% (pero no más de $7,049. Tax extension 2011 40 por cada empleador). Tax extension 2011 Anote el total aquí   2. Tax extension 2011 Anote todos los impuestos no retenidos del Seguro Social y de la jubilación ferroviaria de nivel 1 sobre propinas o seguro de vida colectivo que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT”   3. Tax extension 2011 Sume las líneas 1 y 2. Tax extension 2011 Si el total es $7,049. Tax extension 2011 40 o menos, no siga. Tax extension 2011 No puede reclamar el crédito   4. Tax extension 2011 Límite sobre los impuestos del Seguro Social y de la jubilación ferroviaria de nivel 1 7,049. Tax extension 2011 40 5. Tax extension 2011 Crédito. Tax extension 2011 De la línea 3, reste la línea 4. Tax extension 2011 Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $ Cómo reclamar el crédito. Tax extension 2011   Anote el crédito en la línea 69 del Formulario 1040 o inclúyalo en el total de la línea 41 del Formulario 1040A. Tax extension 2011 Más información. Tax extension 2011   Para información adicional sobre el crédito, vea la Publicación 505, en inglés. Tax extension 2011 Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Missouri Attorney General's Office

Website: Missouri Attorney General's Office

Address: Missouri Attorney General's Office
Consumer Protection Unit
PO Box 899
Jefferson City, MO 65102

Phone Number: 573-751-3321

Toll-free: 1-800-392-8222 (MO, Hotline)

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Regional Consumer Protection Offices

Missouri Attorney Generals Office- St Louis

Website: Missouri Attorney Generals Office- St Louis

Address: Missouri Attorney Generals Office- St Louis
Consumer Protection Division
Old Post Office Building
815 Olive St., Suite 200
St. Louis, MO 63101

Phone Number: 314-340-6816

Toll-free: 1-800-392-8222 (MO, Hotline)

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Finance

Website: Department of Finance

Address: Department of Finance
PO Box 716
Jefferson City, MO 65102

Phone Number: 573-751-3242

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Insurance, Financial, and Professional Registration

Website: Department of Insurance, Financial, and Professional Registration

Address: Department of Insurance, Financial, and Professional Registration
Consumer Affairs Division
PO Box 690
Jefferson City, MO 65102-0690

Toll-free: 1-800-726-7390 (MO)

TTY: 573-526-4536

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Office of the Secretary of State

Website: Office of the Secretary of State

Address: Office of the Secretary of State
Securities Division
600 W. Main St.
Jefferson City, MO 65101-1276

Phone Number: 573-751-4136

Toll-free: 1-800-721-7996 (MO)

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Service Commission

Website: Public Service Commission

Address: Public Service Commission
Consumer Services Department
200 Madison St.
PO Box 360
Jefferson City, MO 65102-0360

Phone Number: 573-751-3234

Toll-free: 1-800-392-4211 (MO)

TTY: 573-522-9061

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The Tax Extension 2011

Tax extension 2011 5. Tax extension 2011   Wages, Salaries, and Other Earnings Table of Contents Reminder Introduction Useful Items - You may want to see: Employee CompensationBabysitting. Tax extension 2011 Miscellaneous Compensation Fringe Benefits Retirement Plan Contributions Stock Options Restricted Property Special Rules for Certain EmployeesClergy Members of Religious Orders Foreign Employer Military Volunteers Sickness and Injury BenefitsDisability Pensions Long-Term Care Insurance Contracts Workers' Compensation Other Sickness and Injury Benefits Reminder Foreign income. Tax extension 2011   If you are a U. Tax extension 2011 S. Tax extension 2011 citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it is exempt by U. Tax extension 2011 S. Tax extension 2011 law. Tax extension 2011 This is true whether you reside inside or outside the United States and whether or not you receive a Form W-2, Wage and Tax Statement, or Form 1099 from the foreign payer. Tax extension 2011 This applies to earned income (such as wages and tips) as well as unearned income (such as interest, dividends, capital gains, pensions, rents, and royalties). Tax extension 2011 If you reside outside the United States, you may be able to exclude part or all of your foreign source earned income. Tax extension 2011 For details, see Publication 54, Tax Guide for U. Tax extension 2011 S. Tax extension 2011 Citizens and Resident Aliens Abroad. Tax extension 2011 Introduction This chapter discusses compensation received for services as an employee, such as wages, salaries, and fringe benefits. Tax extension 2011 The following topics are included. Tax extension 2011 Bonuses and awards. Tax extension 2011 Special rules for certain employees. Tax extension 2011 Sickness and injury benefits. Tax extension 2011 The chapter explains what income is included in the employee's gross income and what is not included. Tax extension 2011 Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 525 Taxable and Nontaxable Income Employee Compensation This section discusses various types of employee compensation including fringe benefits, retirement plan contributions, stock options, and restricted property. Tax extension 2011 Form W-2. Tax extension 2011    If you are an employee, you should receive Form W-2 from your employer showing the pay you received for your services. Tax extension 2011 Include your pay on line 7 of Form 1040 or Form 1040A, or on line 1 of Form 1040EZ, even if you do not receive a Form W-2. Tax extension 2011   If you performed services, other than as an independent contractor, and your employer did not withhold social security and Medicare taxes from your pay, you must file Form 8919, Uncollected Social Security and Medicare Tax on Wages, with your Form 1040. Tax extension 2011 These wages must be included on line 7 of Form 1040. Tax extension 2011 See Form 8919 for more information. Tax extension 2011 Childcare providers. Tax extension 2011    If you provide childcare, either in the child's home or in your home or other place of business, the pay you receive must be included in your income. Tax extension 2011 If you are not an employee, you are probably self-employed and must include payments for your services on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business. Tax extension 2011 You generally are not an employee unless you are subject to the will and control of the person who employs you as to what you are to do and how you are to do it. Tax extension 2011 Babysitting. Tax extension 2011   If you babysit for relatives or neighborhood children, whether on a regular basis or only periodically, the rules for childcare providers apply to you. Tax extension 2011 Miscellaneous Compensation This section discusses different types of employee compensation. Tax extension 2011 Advance commissions and other earnings. Tax extension 2011   If you receive advance commissions or other amounts for services to be performed in the future and you are a cash-method taxpayer, you must include these amounts in your income in the year you receive them. Tax extension 2011    If you repay unearned commissions or other amounts in the same year you receive them, reduce the amount included in your income by the repayment. Tax extension 2011 If you repay them in a later tax year, you can deduct the repayment as an itemized deduction on your Schedule A (Form 1040), or you may be able to take a credit for that year. Tax extension 2011 See Repayments in chapter 12. Tax extension 2011 Allowances and reimbursements. Tax extension 2011    If you receive travel, transportation, or other business expense allowances or reimbursements from your employer, see Publication 463. Tax extension 2011 If you are reimbursed for moving expenses, see Publication 521, Moving Expenses. Tax extension 2011 Back pay awards. Tax extension 2011    Include in income amounts you are awarded in a settlement or judgment for back pay. Tax extension 2011 These include payments made to you for damages, unpaid life insurance premiums, and unpaid health insurance premiums. Tax extension 2011 They should be reported to you by your employer on Form W-2. Tax extension 2011 Bonuses and awards. Tax extension 2011   Bonuses or awards you receive for outstanding work are included in your income and should be shown on your Form W-2. Tax extension 2011 These include prizes such as vacation trips for meeting sales goals. Tax extension 2011 If the prize or award you receive is goods or services, you must include the fair market value of the goods or services in your income. Tax extension 2011 However, if your employer merely promises to pay you a bonus or award at some future time, it is not taxable until you receive it or it is made available to you. Tax extension 2011 Employee achievement award. Tax extension 2011   If you receive tangible personal property (other than cash, a gift certificate, or an equivalent item) as an award for length of service or safety achievement, you generally can exclude its value from your income. Tax extension 2011 However, the amount you can exclude is limited to your employer's cost and cannot be more than $1,600 ($400 for awards that are not qualified plan awards) for all such awards you receive during the year. Tax extension 2011 Your employer can tell you whether your award is a qualified plan award. Tax extension 2011 Your employer must make the award as part of a meaningful presentation, under conditions and circumstances that do not create a significant likelihood of it being disguised pay. Tax extension 2011   However, the exclusion does not apply to the following awards: A length-of-service award if you received it for less than 5 years of service or if you received another length-of-service award during the year or the previous 4 years. Tax extension 2011 A safety achievement award if you are a manager, administrator, clerical employee, or other professional employee or if more than 10% of eligible employees previously received safety achievement awards during the year. Tax extension 2011 Example. Tax extension 2011 Ben Green received three employee achievement awards during the year: a nonqualified plan award of a watch valued at $250, and two qualified plan awards of a stereo valued at $1,000 and a set of golf clubs valued at $500. Tax extension 2011 Assuming that the requirements for qualified plan awards are otherwise satisfied, each award by itself would be excluded from income. Tax extension 2011 However, because the $1,750 total value of the awards is more than $1,600, Ben must include $150 ($1,750 – $1,600) in his income. Tax extension 2011 Differential wage payments. Tax extension 2011   This is any payment made to you by an employer for any period during which you are, for a period of more than 30 days, an active duty member of the uniformed services and represents all or a portion of the wages you would have received from the employer during that period. Tax extension 2011 These payments are treated as wages and are subject to income tax withholding, but not FICA or FUTA taxes. Tax extension 2011 The payments are reported as wages on Form W-2. Tax extension 2011 Government cost-of-living allowances. Tax extension 2011   Most payments received by U. Tax extension 2011 S. Tax extension 2011 Government civilian employees for working abroad are taxable. Tax extension 2011 However, certain cost-of-living allowances are tax free. Tax extension 2011 Publication 516, U. Tax extension 2011 S. Tax extension 2011 Government Civilian Employees Stationed Abroad, explains the tax treatment of allowances, differentials, and other special pay you receive for employment abroad. Tax extension 2011 Nonqualified deferred compensation plans. Tax extension 2011   Your employer will report to you the total amount of deferrals for the year under a nonqualified deferred compensation plan. Tax extension 2011 This amount is shown on Form W-2, box 12, using code Y. Tax extension 2011 This amount is not included in your income. Tax extension 2011   However, if at any time during the tax year, the plan fails to meet certain requirements, or is not operated under those requirements, all amounts deferred under the plan for the tax year and all preceding tax years are included in your income for the current year. Tax extension 2011 This amount is included in your wages shown on Form W-2, box 1. Tax extension 2011 It is also shown on Form W-2, box 12, using code Z. Tax extension 2011 Note received for services. Tax extension 2011    If your employer gives you a secured note as payment for your services, you must include the fair market value (usually the discount value) of the note in your income for the year you receive it. Tax extension 2011 When you later receive payments on the note, a proportionate part of each payment is the recovery of the fair market value that you previously included in your income. Tax extension 2011 Do not include that part again in your income. Tax extension 2011 Include the rest of the payment in your income in the year of payment. Tax extension 2011   If your employer gives you a nonnegotiable unsecured note as payment for your services, payments on the note that are credited toward the principal amount of the note are compensation income when you receive them. Tax extension 2011 Severance pay. Tax extension 2011   You must include in income amounts you receive as severance pay and any payment for the cancellation of your employment contract. Tax extension 2011 Accrued leave payment. Tax extension 2011    If you are a federal employee and receive a lump-sum payment for accrued annual leave when you retire or resign, this amount will be included as wages on your Form W-2. Tax extension 2011   If you resign from one agency and are reemployed by another agency, you may have to repay part of your lump-sum annual leave payment to the second agency. Tax extension 2011 You can reduce gross wages by the amount you repaid in the same tax year in which you received it. Tax extension 2011 Attach to your tax return a copy of the receipt or statement given to you by the agency you repaid to explain the difference between the wages on the return and the wages on your Forms W-2. Tax extension 2011 Outplacement services. Tax extension 2011   If you choose to accept a reduced amount of severance pay so that you can receive outplacement services (such as training in résumé writing and interview techniques), you must include the unreduced amount of the severance pay in income. Tax extension 2011    However, you can deduct the value of these outplacement services (up to the difference between the severance pay included in income and the amount actually received) as a miscellaneous deduction (subject to the 2%-of-adjusted-gross-income (AGI) limit) on Schedule A (Form 1040). Tax extension 2011 Sick pay. Tax extension 2011   Pay you receive from your employer while you are sick or injured is part of your salary or wages. Tax extension 2011 In addition, you must include in your income sick pay benefits received from any of the following payers: A welfare fund. Tax extension 2011 A state sickness or disability fund. Tax extension 2011 An association of employers or employees. Tax extension 2011 An insurance company, if your employer paid for the plan. Tax extension 2011 However, if you paid the premiums on an accident or health insurance policy, the benefits you receive under the policy are not taxable. Tax extension 2011 For more information, see Publication 525. Tax extension 2011 Social security and Medicare taxes paid by employer. Tax extension 2011   If you and your employer have an agreement that your employer pays your social security and Medicare taxes without deducting them from your gross wages, you must report the amount of tax paid for you as taxable wages on your tax return. Tax extension 2011 The payment also is treated as wages for figuring your social security and Medicare taxes and your social security and Medicare benefits. Tax extension 2011 However, these payments are not treated as social security and Medicare wages if you are a household worker or a farm worker. Tax extension 2011 Stock appreciation rights. Tax extension 2011   Do not include a stock appreciation right granted by your employer in income until you exercise (use) the right. Tax extension 2011 When you use the right, you are entitled to a cash payment equal to the fair market value of the corporation's stock on the date of use minus the fair market value on the date the right was granted. Tax extension 2011 You include the cash payment in your income in the year you use the right. Tax extension 2011 Fringe Benefits Fringe benefits received in connection with the performance of your services are included in your income as compensation unless you pay fair market value for them or they are specifically excluded by law. Tax extension 2011 Abstaining from the performance of services (for example, under a covenant not to compete) is treated as the performance of services for purposes of these rules. Tax extension 2011 Accounting period. Tax extension 2011   You must use the same accounting period your employer uses to report your taxable noncash fringe benefits. Tax extension 2011 Your employer has the option to report taxable noncash fringe benefits by using either of the following rules. Tax extension 2011 The general rule: benefits are reported for a full calendar year (January 1–December 31). Tax extension 2011 The special accounting period rule: benefits provided during the last 2 months of the calendar year (or any shorter period) are treated as paid during the following calendar year. Tax extension 2011 For example, each year your employer reports the value of benefits provided during the last 2 months of the prior year and the first 10 months of the current year. Tax extension 2011  Your employer does not have to use the same accounting period for each fringe benefit, but must use the same period for all employees who receive a particular benefit. Tax extension 2011   You must use the same accounting period that you use to report the benefit to claim an employee business deduction (for use of a car, for example). Tax extension 2011 Form W-2. Tax extension 2011   Your employer must include all taxable fringe benefits in box 1 of Form W-2 as wages, tips, and other compensation and, if applicable, in boxes 3 and 5 as social security and Medicare wages. Tax extension 2011 Although not required, your employer may include the total value of fringe benefits in box 14 (or on a separate statement). Tax extension 2011 However, if your employer provided you with a vehicle and included 100% of its annual lease value in your income, the employer must separately report this value to you in box 14 (or on a separate statement). Tax extension 2011 Accident or Health Plan In most cases, the value of accident or health plan coverage provided to you by your employer is not included in your income. Tax extension 2011 Benefits you receive from the plan may be taxable, as explained later under Sickness and Injury Benefits . Tax extension 2011 For information on the items covered in this section, other than Long-term care coverage, see Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans. Tax extension 2011 Long-term care coverage. Tax extension 2011    Contributions by your employer to provide coverage for long-term care services generally are not included in your income. Tax extension 2011 However, contributions made through a flexible spending or similar arrangement (such as a cafeteria plan) must be included in your income. Tax extension 2011 This amount will be reported as wages in box 1 of your Form W-2. Tax extension 2011   Contributions you make to the plan are discussed in Publication 502, Medical and Dental Expenses. Tax extension 2011 Archer MSA contributions. Tax extension 2011    Contributions by your employer to your Archer MSA generally are not included in your income. Tax extension 2011 Their total will be reported in box 12 of Form W-2 with code R. Tax extension 2011 You must report this amount on Form 8853, Archer MSAs and Long-Term Care Insurance Contracts. Tax extension 2011 File the form with your return. Tax extension 2011 Health flexible spending arrangement (health FSA). Tax extension 2011   If your employer provides a health FSA that qualifies as an accident or health plan, the amount of your salary reduction, and reimbursements of your medical care expenses, in most cases, are not included in your income. Tax extension 2011 Note. Tax extension 2011 Health FSAs are subject to a $2,500 limit on salary reduction contributions for plan years beginning after 2012. Tax extension 2011 The $2,500 limit is subject to an inflation adjustment for plan years beginning after 2013. Tax extension 2011 For more information, see Notice 2012-40, 2012-26 I. Tax extension 2011 R. Tax extension 2011 B. Tax extension 2011 1046, available at www. Tax extension 2011 irs. Tax extension 2011 gov/irb/2012-26 IRB/ar09. Tax extension 2011 html. Tax extension 2011 Health reimbursement arrangement (HRA). Tax extension 2011   If your employer provides an HRA that qualifies as an accident or health plan, coverage and reimbursements of your medical care expenses generally are not included in your income. Tax extension 2011 Health savings accounts (HSA). Tax extension 2011   If you are an eligible individual, you and any other person, including your employer or a family member, can make contributions to your HSA. Tax extension 2011 Contributions, other than employer contributions, are deductible on your return whether or not you itemize deductions. Tax extension 2011 Contributions made by your employer are not included in your income. Tax extension 2011 Distributions from your HSA that are used to pay qualified medical expenses are not included in your income. Tax extension 2011 Distributions not used for qualified medical expenses are included in your income. Tax extension 2011 See Publication 969 for the requirements of an HSA. Tax extension 2011   Contributions by a partnership to a bona fide partner's HSA are not contributions by an employer. Tax extension 2011 The contributions are treated as a distribution of money and are not included in the partner's gross income. Tax extension 2011 Contributions by a partnership to a partner's HSA for services rendered are treated as guaranteed payments that are includible in the partner's gross income. Tax extension 2011 In both situations, the partner can deduct the contribution made to the partner's HSA. Tax extension 2011   Contributions by an S corporation to a 2% shareholder-employee's HSA for services rendered are treated as guaranteed payments and are includible in the shareholder-employee's gross income. Tax extension 2011 The shareholder-employee can deduct the contribution made to the shareholder-employee's HSA. Tax extension 2011 Qualified HSA funding distribution. Tax extension 2011   You can make a one-time distribution from your individual retirement account (IRA) to an HSA and you generally will not include any of the distribution in your income. Tax extension 2011 See Publication 590 for the requirements for these qualified HSA funding distributions. Tax extension 2011 Failure to maintain eligibility. Tax extension 2011   If your HSA received qualified HSA distributions from a health FSA or HRA (discussed earlier) or a qualified HSA funding distribution, you must be an eligible individual for HSA purposes for the period beginning with the month in which the qualified distribution was made and ending on the last day of the 12th month following that month. Tax extension 2011 If you fail to be an eligible individual during this period, other than because of death or disability, you must include the distribution in your income for the tax year in which you become ineligible. Tax extension 2011 This income is also subject to an additional 10% tax. Tax extension 2011 Adoption Assistance You may be able to exclude from your income amounts paid or expenses incurred by your employer for qualified adoption expenses in connection with your adoption of an eligible child. Tax extension 2011 See the Instructions for Form 8839, Qualified Adoption Expenses, for more information. Tax extension 2011 Adoption benefits are reported by your employer in box 12 of Form W-2 with code T. Tax extension 2011 They also are included as social security and Medicare wages in boxes 3 and 5. Tax extension 2011 However, they are not included as wages in box 1. Tax extension 2011 To determine the taxable and nontaxable amounts, you must complete Part III of Form 8839. Tax extension 2011 File the form with your return. Tax extension 2011 De Minimis (Minimal) Benefits If your employer provides you with a product or service and the cost of it is so small that it would be unreasonable for the employer to account for it, the value is not included in your income. Tax extension 2011 In most cases, the value of benefits such as discounts at company cafeterias, cab fares home when working overtime, and company picnics are not included in your income. Tax extension 2011 Holiday gifts. Tax extension 2011   If your employer gives you a turkey, ham, or other item of nominal value at Christmas or other holidays, do not include the value of the gift in your income. Tax extension 2011 However, if your employer gives you cash, a gift certificate, or a similar item that you can easily exchange for cash, you include the value of that gift as extra salary or wages regardless of the amount involved. Tax extension 2011 Educational Assistance You can exclude from your income up to $5,250 of qualified employer-provided educational assistance. Tax extension 2011 For more information, see Publication 970, Tax Benefits for Education. Tax extension 2011 Group-Term Life Insurance In most cases, the cost of up to $50,000 of group-term life insurance coverage provided to you by your employer (or former employer) is not included in your income. Tax extension 2011 However, you must include in income the cost of employer-provided insurance that is more than the cost of $50,000 of coverage reduced by any amount you pay toward the purchase of the insurance. Tax extension 2011 For exceptions, see Entire cost excluded , and Entire cost taxed , later. Tax extension 2011 If your employer provided more than $50,000 of coverage, the amount included in your income is reported as part of your wages in box 1 of your Form W-2. Tax extension 2011 Also, it is shown separately in box 12 with code C. Tax extension 2011 Group-term life insurance. Tax extension 2011   This insurance is term life insurance protection (insurance for a fixed period of time) that: Provides a general death benefit, Is provided to a group of employees, Is provided under a policy carried by the employer, and Provides an amount of insurance to each employee based on a formula that prevents individual selection. Tax extension 2011 Permanent benefits. Tax extension 2011   If your group-term life insurance policy includes permanent benefits, such as a paid-up or cash surrender value, you must include in your income, as wages, the cost of the permanent benefits minus the amount you pay for them. Tax extension 2011 Your employer should be able to tell you the amount to include in your income. Tax extension 2011 Accidental death benefits. Tax extension 2011   Insurance that provides accidental or other death benefits but does not provide general death benefits (travel insurance, for example) is not group-term life insurance. Tax extension 2011 Former employer. Tax extension 2011   If your former employer provided more than $50,000 of group-term life insurance coverage during the year, the amount included in your income is reported as wages in box 1 of Form W-2. Tax extension 2011 Also, it is shown separately in box 12 with code C. Tax extension 2011 Box 12 also will show the amount of uncollected social security and Medicare taxes on the excess coverage, with codes M and N. Tax extension 2011 You must pay these taxes with your income tax return. Tax extension 2011 Include them on line 60, Form 1040, and follow the instructions for line 60. Tax extension 2011 For more information, see the Instructions for Form 1040. Tax extension 2011 Two or more employers. Tax extension 2011   Your exclusion for employer-provided group-term life insurance coverage cannot exceed the cost of $50,000 of coverage, whether the insurance is provided by a single employer or multiple employers. Tax extension 2011 If two or more employers provide insurance coverage that totals more than $50,000, the amounts reported as wages on your Forms W-2 will not be correct. Tax extension 2011 You must figure how much to include in your income. Tax extension 2011 Reduce the amount you figure by any amount reported with code C in box 12 of your Forms W-2, add the result to the wages reported in box 1, and report the total on your return. Tax extension 2011 Figuring the taxable cost. Tax extension 2011   Use the following worksheet to figure the amount to include in your income. Tax extension 2011     Worksheet 5-1. Tax extension 2011 Figuring the Cost of Group-Term Life Insurance To Include in Income 1. Tax extension 2011 Enter the total amount of your insurance coverage from your employer(s) 1. Tax extension 2011   2. Tax extension 2011 Limit on exclusion for employer-provided group-term life insurance coverage 2. Tax extension 2011 50,000 3. Tax extension 2011 Subtract line 2 from line 1 3. Tax extension 2011   4. Tax extension 2011 Divide line 3 by $1,000. Tax extension 2011 Figure to the nearest tenth 4. Tax extension 2011   5. Tax extension 2011 Go to Table 5-1. Tax extension 2011 Using your age on the last day of the tax year, find your age group in the left column, and enter the cost from the column on the right for your age group 5. Tax extension 2011   6. Tax extension 2011 Multiply line 4 by line 5 6. Tax extension 2011   7. Tax extension 2011 Enter the number of full months of coverage at this cost. Tax extension 2011 7. Tax extension 2011   8. Tax extension 2011 Multiply line 6 by line 7 8. Tax extension 2011   9. Tax extension 2011 Enter the premiums you paid per month 9. Tax extension 2011       10. Tax extension 2011 Enter the number of months you paid the premiums 10. Tax extension 2011       11. Tax extension 2011 Multiply line 9 by line 10. Tax extension 2011 11. Tax extension 2011   12. Tax extension 2011 Subtract line 11 from line 8. Tax extension 2011 Include this amount in your income as wages 12. Tax extension 2011      Table 5-1. Tax extension 2011 Cost of $1,000 of Group-Term Life Insurance for One Month Age Cost Under 25 $. Tax extension 2011 05 25 through 29 . Tax extension 2011 06 30 through 34 . Tax extension 2011 08 35 through 39 . Tax extension 2011 09 40 through 44 . Tax extension 2011 10 45 through 49 . Tax extension 2011 15 50 through 54 . Tax extension 2011 23 55 through 59 . Tax extension 2011 43 60 through 64 . Tax extension 2011 66 65 through 69 1. Tax extension 2011 27 70 and older 2. Tax extension 2011 06 Example. Tax extension 2011 You are 51 years old and work for employers A and B. Tax extension 2011 Both employers provide group-term life insurance coverage for you for the entire year. Tax extension 2011 Your coverage is $35,000 with employer A and $45,000 with employer B. Tax extension 2011 You pay premiums of $4. Tax extension 2011 15 a month under the employer B group plan. Tax extension 2011 You figure the amount to include in your income as shown in Worksheet 5-1. Tax extension 2011 Figuring the Cost of Group-Term Life Insurance to Include in Income—Illustrated, later. Tax extension 2011 Worksheet 5-1. Tax extension 2011 Figuring the Cost of Group-Term Life Insurance to Include in Income—Illustrated 1. Tax extension 2011 Enter the total amount of your insurance coverage from your employer(s) 1. Tax extension 2011 80,000 2. Tax extension 2011 Limit on exclusion for employer-provided group-term life insurance coverage 2. Tax extension 2011 50,000 3. Tax extension 2011 Subtract line 2 from line 1 3. Tax extension 2011 30,000 4. Tax extension 2011 Divide line 3 by $1,000. Tax extension 2011 Figure to the nearest tenth 4. Tax extension 2011 30. Tax extension 2011 0 5. Tax extension 2011 Go to Table 5-1. Tax extension 2011 Using your age on the last day of the tax year, find your age group in the left column, and enter the cost from the column on the right for your age group 5. Tax extension 2011 . Tax extension 2011 23 6. Tax extension 2011 Multiply line 4 by line 5 6. Tax extension 2011 6. Tax extension 2011 90 7. Tax extension 2011 Enter the number of full months of coverage at this cost. Tax extension 2011 7. Tax extension 2011 12 8. Tax extension 2011 Multiply line 6 by line 7 8. Tax extension 2011 82. Tax extension 2011 80 9. Tax extension 2011 Enter the premiums you paid per month 9. Tax extension 2011 4. Tax extension 2011 15     10. Tax extension 2011 Enter the number of months you paid the premiums 10. Tax extension 2011 12     11. Tax extension 2011 Multiply line 9 by line 10. Tax extension 2011 11. Tax extension 2011 49. Tax extension 2011 80 12. Tax extension 2011 Subtract line 11 from line 8. Tax extension 2011 Include this amount in your income as wages 12. Tax extension 2011 33. Tax extension 2011 00 Entire cost excluded. Tax extension 2011   You are not taxed on the cost of group-term life insurance if any of the following circumstances apply. Tax extension 2011 You are permanently and totally disabled and have ended your employment. Tax extension 2011 Your employer is the beneficiary of the policy for the entire period the insurance is in force during the tax year. Tax extension 2011 A charitable organization (defined in chapter 24) to which contributions are deductible is the only beneficiary of the policy for the entire period the insurance is in force during the tax year. Tax extension 2011 (You are not entitled to a deduction for a charitable contribution for naming a charitable organization as the beneficiary of your policy. Tax extension 2011 ) The plan existed on January 1, 1984, and You retired before January 2, 1984, and were covered by the plan when you retired, or You reached age 55 before January 2, 1984, and were employed by the employer or its predecessor in 1983. Tax extension 2011 Entire cost taxed. Tax extension 2011   You are taxed on the entire cost of group-term life insurance if either of the following circumstances apply: The insurance is provided by your employer through a qualified employees' trust, such as a pension trust or a qualified annuity plan. Tax extension 2011 You are a key employee and your employer's plan discriminates in favor of key employees. Tax extension 2011 Retirement Planning Services If your employer has a qualified retirement plan, qualified retirement planning services provided to you (and your spouse) by your employer are not included in your income. Tax extension 2011 Qualified services include retirement planning advice, information about your employer's retirement plan, and information about how the plan may fit into your overall individual retirement income plan. Tax extension 2011 You cannot exclude the value of any tax preparation, accounting, legal, or brokerage services provided by your employer. Tax extension 2011 Transportation If your employer provides you with a qualified transportation fringe benefit, it can be excluded from your income, up to certain limits. Tax extension 2011 A qualified transportation fringe benefit is: Transportation in a commuter highway vehicle (such as a van) between your home and work place, A transit pass, Qualified parking, or Qualified bicycle commuting reimbursement. Tax extension 2011 Cash reimbursement by your employer for these expenses under a bona fide reimbursement arrangement is also excludable. Tax extension 2011 However, cash reimbursement for a transit pass is excludable only if a voucher or similar item that can be exchanged only for a transit pass is not readily available for direct distribution to you. Tax extension 2011 Exclusion limit. Tax extension 2011   The exclusion for commuter vehicle transportation and transit pass fringe benefits cannot be more than $245 a month. Tax extension 2011   The exclusion for the qualified parking fringe benefit cannot be more than $245 a month. Tax extension 2011   The exclusion for qualified bicycle commuting in a calendar year is $20 multiplied by the number of qualified bicycle commuting months that year. Tax extension 2011   If the benefits have a value that is more than these limits, the excess must be included in your income. Tax extension 2011 You are not entitled to these exclusions if the reimbursements are made under a compensation reduction agreement. Tax extension 2011 Commuter highway vehicle. Tax extension 2011   This is a highway vehicle that seats at least six adults (not including the driver). Tax extension 2011 At least 80% of the vehicle's mileage must reasonably be expected to be: For transporting employees between their homes and work place, and On trips during which employees occupy at least half of the vehicle's adult seating capacity (not including the driver). Tax extension 2011 Transit pass. Tax extension 2011   This is any pass, token, farecard, voucher, or similar item entitling a person to ride mass transit (whether public or private) free or at a reduced rate or to ride in a commuter highway vehicle operated by a person in the business of transporting persons for compensation. Tax extension 2011 Qualified parking. Tax extension 2011   This is parking provided to an employee at or near the employer's place of business. Tax extension 2011 It also includes parking provided on or near a location from which the employee commutes to work by mass transit, in a commuter highway vehicle, or by carpool. Tax extension 2011 It does not include parking at or near the employee's home. Tax extension 2011 Qualified bicycle commuting. Tax extension 2011   This is reimbursement based on the number of qualified bicycle commuting months for the year. Tax extension 2011 A qualified bicycle commuting month is any month you use the bicycle regularly for a substantial portion of the travel between your home and place of employment and you do not receive any of the other qualified transportation fringe benefits. Tax extension 2011 The reimbursement can be for expenses you incurred during the year for the purchase of a bicycle and bicycle improvements, repair, and storage. Tax extension 2011 Retirement Plan Contributions Your employer's contributions to a qualified retirement plan for you are not included in income at the time contributed. Tax extension 2011 (Your employer can tell you whether your retirement plan is qualified. Tax extension 2011 ) However, the cost of life insurance coverage included in the plan may have to be included. Tax extension 2011 See Group-Term Life Insurance , earlier, under Fringe Benefits. Tax extension 2011 If your employer pays into a nonqualified plan for you, you generally must include the contributions in your income as wages for the tax year in which the contributions are made. Tax extension 2011 However, if your interest in the plan is not transferable or is subject to a substantial risk of forfeiture (you have a good chance of losing it) at the time of the contribution, you do not have to include the value of your interest in your income until it is transferable or is no longer subject to a substantial risk of forfeiture. Tax extension 2011 For information on distributions from retirement plans, see Publication 575, Pension and Annuity Income (or Publication 721, Tax Guide to U. Tax extension 2011 S. Tax extension 2011 Civil Service Retirement Benefits, if you are a federal employee or retiree). Tax extension 2011 Elective deferrals. Tax extension 2011   If you are covered by certain kinds of retirement plans, you can choose to have part of your compensation contributed by your employer to a retirement fund, rather than have it paid to you. Tax extension 2011 The amount you set aside (called an elective deferral) is treated as an employer contribution to a qualified plan. Tax extension 2011 An elective deferral, other than a designated Roth contribution (discussed later), is not included in wages subject to income tax at the time contributed. Tax extension 2011 However, it is included in wages subject to social security and Medicare taxes. Tax extension 2011   Elective deferrals include elective contributions to the following retirement plans. Tax extension 2011 Cash or deferred arrangements (section 401(k) plans). Tax extension 2011 The Thrift Savings Plan for federal employees. Tax extension 2011 Salary reduction simplified employee pension plans (SARSEP). Tax extension 2011 Savings incentive match plans for employees (SIMPLE plans). Tax extension 2011 Tax-sheltered annuity plans (403(b) plans). Tax extension 2011 Section 501(c)(18)(D) plans. Tax extension 2011 Section 457 plans. Tax extension 2011 Qualified automatic contribution arrangements. Tax extension 2011   Under a qualified automatic contribution arrangement, your employer can treat you as having elected to have a part of your compensation contributed to a section 401(k) plan. Tax extension 2011 You are to receive written notice of your rights and obligations under the qualified automatic contribution arrangement. Tax extension 2011 The notice must explain: Your rights to elect not to have elective contributions made, or to have contributions made at a different percentage, and How contributions made will be invested in the absence of any investment decision by you. Tax extension 2011   You must be given a reasonable period of time after receipt of the notice and before the first elective contribution is made to make an election with respect to the contributions. Tax extension 2011 Overall limit on deferrals. Tax extension 2011   For 2013, in most cases, you should not have deferred more than a total of $17,500 of contributions to the plans listed in (1) through (3) and (5) above. Tax extension 2011 The limit for SIMPLE plans is $12,000. Tax extension 2011 The limit for section 501(c)(18)(D) plans is the lesser of $7,000 or 25% of your compensation. Tax extension 2011 The limit for section 457 plans is the lesser of your includible compensation or $17,500. Tax extension 2011 Amounts deferred under specific plan limits are part of the overall limit on deferrals. Tax extension 2011 Designated Roth contributions. Tax extension 2011   Employers with section 401(k) and section 403(b) plans can create qualified Roth contribution programs so that you may elect to have part or all of your elective deferrals to the plan designated as after-tax Roth contributions. Tax extension 2011 Designated Roth contributions are treated as elective deferrals, except that they are included in income. Tax extension 2011 Excess deferrals. Tax extension 2011   Your employer or plan administrator should apply the proper annual limit when figuring your plan contributions. Tax extension 2011 However, you are responsible for monitoring the total you defer to ensure that the deferrals are not more than the overall limit. Tax extension 2011   If you set aside more than the limit, the excess generally must be included in your income for that year, unless you have an excess deferral of a designated Roth contribution. Tax extension 2011 See Publication 525 for a discussion of the tax treatment of excess deferrals. Tax extension 2011 Catch-up contributions. Tax extension 2011   You may be allowed catch-up contributions (additional elective deferral) if you are age 50 or older by the end of your tax year. Tax extension 2011 Stock Options If you receive a nonstatutory option to buy or sell stock or other property as payment for your services, you usually will have income when you receive the option, when you exercise the option (use it to buy or sell the stock or other property), or when you sell or otherwise dispose of the option. Tax extension 2011 However, if your option is a statutory stock option, you will not have any income until you sell or exchange your stock. Tax extension 2011 Your employer can tell you which kind of option you hold. Tax extension 2011 For more information, see Publication 525. Tax extension 2011 Restricted Property In most cases, if you receive property for your services, you must include its fair market value in your income in the year you receive the property. Tax extension 2011 However, if you receive stock or other property that has certain restrictions that affect its value, you do not include the value of the property in your income until it has substantially vested. Tax extension 2011 (You can choose to include the value of the property in your income in the year it is transferred to you. Tax extension 2011 ) For more information, see Restricted Property in Publication 525. Tax extension 2011 Dividends received on restricted stock. Tax extension 2011   Dividends you receive on restricted stock are treated as compensation and not as dividend income. Tax extension 2011 Your employer should include these payments on your Form W-2. Tax extension 2011 Stock you chose to include in income. Tax extension 2011   Dividends you receive on restricted stock you chose to include in your income in the year transferred are treated the same as any other dividends. Tax extension 2011 Report them on your return as dividends. Tax extension 2011 For a discussion of dividends, see chapter 8. Tax extension 2011    For information on how to treat dividends reported on both your Form W-2 and Form 1099-DIV, see Dividends received on restricted stock in Publication 525. Tax extension 2011 Special Rules for Certain Employees This section deals with special rules for people in certain types of employment: members of the clergy, members of religious orders, people working for foreign employers, military personnel, and volunteers. Tax extension 2011 Clergy Generally, if you are a member of the clergy, you must include in your income offerings and fees you receive for marriages, baptisms, funerals, masses, etc. Tax extension 2011 , in addition to your salary. Tax extension 2011 If the offering is made to the religious institution, it is not taxable to you. Tax extension 2011 If you are a member of a religious organization and you give your outside earnings to the religious organization, you still must include the earnings in your income. Tax extension 2011 However, you may be entitled to a charitable contribution deduction for the amount paid to the organization. Tax extension 2011 See chapter 24. Tax extension 2011 Pension. Tax extension 2011    A pension or retirement pay for a member of the clergy usually is treated as any other pension or annuity. Tax extension 2011 It must be reported on lines 16a and 16b of Form 1040 or on lines 12a and 12b of Form 1040A. Tax extension 2011 Housing. Tax extension 2011    Special rules for housing apply to members of the clergy. Tax extension 2011 Under these rules, you do not include in your income the rental value of a home (including utilities) or a designated housing allowance provided to you as part of your pay. Tax extension 2011 However, the exclusion cannot be more than the reasonable pay for your service. Tax extension 2011 If you pay for the utilities, you can exclude any allowance designated for utility cost, up to your actual cost. Tax extension 2011 The home or allowance must be provided as compensation for your services as an ordained, licensed, or commissioned minister. Tax extension 2011 However, you must include the rental value of the home or the housing allowance as earnings from self-employment on Schedule SE (Form 1040) if you are subject to the self-employment tax. Tax extension 2011 For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. Tax extension 2011 Members of Religious Orders If you are a member of a religious order who has taken a vow of poverty, how you treat earnings that you renounce and turn over to the order depends on whether your services are performed for the order. Tax extension 2011 Services performed for the order. Tax extension 2011   If you are performing the services as an agent of the order in the exercise of duties required by the order, do not include in your income the amounts turned over to the order. Tax extension 2011   If your order directs you to perform services for another agency of the supervising church or an associated institution, you are considered to be performing the services as an agent of the order. Tax extension 2011 Any wages you earn as an agent of an order that you turn over to the order are not included in your income. Tax extension 2011 Example. Tax extension 2011 You are a member of a church order and have taken a vow of poverty. Tax extension 2011 You renounce any claims to your earnings and turn over to the order any salaries or wages you earn. Tax extension 2011 You are a registered nurse, so your order assigns you to work in a hospital that is an associated institution of the church. Tax extension 2011 However, you remain under the general direction and control of the order. Tax extension 2011 You are considered to be an agent of the order and any wages you earn at the hospital that you turn over to your order are not included in your income. Tax extension 2011 Services performed outside the order. Tax extension 2011   If you are directed to work outside the order, your services are not an exercise of duties required by the order unless they meet both of the following requirements: They are the kind of services that are ordinarily the duties of members of the order. Tax extension 2011 They are part of the duties that you must exercise for, or on behalf of, the religious order as its agent. Tax extension 2011 If you are an employee of a third party, the services you perform for the third party will not be considered directed or required of you by the order. Tax extension 2011 Amounts you receive for these services are included in your income, even if you have taken a vow of poverty. Tax extension 2011 Example. Tax extension 2011 Mark Brown is a member of a religious order and has taken a vow of poverty. Tax extension 2011 He renounces all claims to his earnings and turns over his earnings to the order. Tax extension 2011 Mark is a schoolteacher. Tax extension 2011 He was instructed by the superiors of the order to get a job with a private tax-exempt school. Tax extension 2011 Mark became an employee of the school, and, at his request, the school made the salary payments directly to the order. Tax extension 2011 Because Mark is an employee of the school, he is performing services for the school rather than as an agent of the order. Tax extension 2011 The wages Mark earns working for the school are included in his income. Tax extension 2011 Foreign Employer Special rules apply if you work for a foreign employer. Tax extension 2011 U. Tax extension 2011 S. Tax extension 2011 citizen. Tax extension 2011   If you are a U. Tax extension 2011 S. Tax extension 2011 citizen who works in the United States for a foreign government, an international organization, a foreign embassy, or any foreign employer, you must include your salary in your income. Tax extension 2011 Social security and Medicare taxes. Tax extension 2011   You are exempt from social security and Medicare employee taxes if you are employed in the United States by an international organization or a foreign government. Tax extension 2011 However, you must pay self-employment tax on your earnings from services performed in the United States, even though you are not self-employed. Tax extension 2011 This rule also applies if you are an employee of a qualifying wholly owned instrumentality of a foreign government. Tax extension 2011 Employees of international organizations or foreign governments. Tax extension 2011   Your compensation for official services to an international organization is exempt from federal income tax if you are not a citizen of the United States or you are a citizen of the Philippines (whether or not you are a citizen of the United States). Tax extension 2011   Your compensation for official services to a foreign government is exempt from federal income tax if all of the following are true. Tax extension 2011 You are not a citizen of the United States or you are a citizen of the Philippines (whether or not you are a citizen of the United States). Tax extension 2011 Your work is like the work done by employees of the United States in foreign countries. Tax extension 2011 The foreign government gives an equal exemption to employees of the United States in its country. Tax extension 2011 Waiver of alien status. Tax extension 2011   If you are an alien who works for a foreign government or international organization and you file a waiver under section 247(b) of the Immigration and Nationality Act to keep your immigrant status, different rules may apply. Tax extension 2011 See Foreign Employer in Publication 525. Tax extension 2011 Employment abroad. Tax extension 2011   For information on the tax treatment of income earned abroad, see Publication 54. Tax extension 2011 Military Payments you receive as a member of a military service generally are taxed as wages except for retirement pay, which is taxed as a pension. Tax extension 2011 Allowances generally are not taxed. Tax extension 2011 For more information on the tax treatment of military allowances and benefits, see Publication 3, Armed Forces' Tax Guide. Tax extension 2011 Differential wage payments. Tax extension 2011   Any payments made to you by an employer during the time you are performing service in the uniformed services are treated as compensation. Tax extension 2011 These wages are subject to income tax withholding and are reported on a Form W-2. Tax extension 2011 See the discussion under Miscellaneous Compensation , earlier. Tax extension 2011 Military retirement pay. Tax extension 2011   If your retirement pay is based on age or length of service, it is taxable and must be included in your income as a pension on lines 16a and 16b of Form 1040 or on lines 12a and 12b of Form 1040A. Tax extension 2011 Do not include in your income the amount of any reduction in retirement or retainer pay to provide a survivor annuity for your spouse or children under the Retired Serviceman's Family Protection Plan or the Survivor Benefit Plan. Tax extension 2011   For more detailed discussion of survivor annuities, see chapter 10. Tax extension 2011 Disability. Tax extension 2011   If you are retired on disability, see Military and Government Disability Pensions under Sickness and Injury Benefits, later. Tax extension 2011 Veterans' benefits. Tax extension 2011   Do not include in your income any veterans' benefits paid under any law, regulation, or administrative practice administered by the Department of Veterans Affairs (VA). Tax extension 2011 The following amounts paid to veterans or their families are not taxable. Tax extension 2011 Education, training, and subsistence allowances. Tax extension 2011 Disability compensation and pension payments for disabilities paid either to veterans or their families. Tax extension 2011 Grants for homes designed for wheelchair living. Tax extension 2011 Grants for motor vehicles for veterans who lost their sight or the use of their limbs. Tax extension 2011 Veterans' insurance proceeds and dividends paid either to veterans or their beneficiaries, including the proceeds of a veteran's endowment policy paid before death. Tax extension 2011 Interest on insurance dividends you leave on deposit with the VA. Tax extension 2011 Benefits under a dependent-care assistance program. Tax extension 2011 The death gratuity paid to a survivor of a member of the Armed Forces who died after September 10, 2001. Tax extension 2011 Payments made under the compensated work therapy program. Tax extension 2011 Any bonus payment by a state or political subdivision because of service in a combat zone. Tax extension 2011 Volunteers The tax treatment of amounts you receive as a volunteer worker for the Peace Corps or similar agency is covered in the following discussions. Tax extension 2011 Peace Corps. Tax extension 2011   Living allowances you receive as a Peace Corps volunteer or volunteer leader for housing, utilities, household supplies, food, and clothing are exempt from tax. Tax extension 2011 Taxable allowances. Tax extension 2011   The following allowances must be included in your income and reported as wages: Allowances paid to your spouse and minor children while you are a volunteer leader training in the United States. Tax extension 2011 Living allowances designated by the Director of the Peace Corps as basic compensation. Tax extension 2011 These are allowances for personal items such as domestic help, laundry and clothing maintenance, entertainment and recreation, transportation, and other miscellaneous expenses. Tax extension 2011 Leave allowances. Tax extension 2011 Readjustment allowances or termination payments. Tax extension 2011 These are considered received by you when credited to your account. Tax extension 2011 Example. Tax extension 2011 Gary Carpenter, a Peace Corps volunteer, gets $175 a month as a readjustment allowance during his period of service, to be paid to him in a lump sum at the end of his tour of duty. Tax extension 2011 Although the allowance is not available to him until the end of his service, Gary must include it in his income on a monthly basis as it is credited to his account. Tax extension 2011 Volunteers in Service to America (VISTA). Tax extension 2011   If you are a VISTA volunteer, you must include meal and lodging allowances paid to you in your income as wages. Tax extension 2011 National Senior Services Corps programs. Tax extension 2011   Do not include in your income amounts you receive for supportive services or reimbursements for out-of-pocket expenses from the following programs. Tax extension 2011 Retired Senior Volunteer Program (RSVP). Tax extension 2011 Foster Grandparent Program. Tax extension 2011 Senior Companion Program. Tax extension 2011 Service Corps of Retired Executives (SCORE). Tax extension 2011   If you receive amounts for supportive services or reimbursements for out-of-pocket expenses from SCORE, do not include these amounts in income. Tax extension 2011 Volunteer tax counseling. Tax extension 2011   Do not include in your income any reimbursements you receive for transportation, meals, and other expenses you have in training for, or actually providing, volunteer federal income tax counseling for the elderly (TCE). Tax extension 2011   You can deduct as a charitable contribution your unreimbursed out-of-pocket expenses in taking part in the volunteer income tax assistance (VITA) program. Tax extension 2011 See chapter 24. Tax extension 2011 Sickness and Injury Benefits This section discusses sickness and injury benefits including disability pensions, long-term care insurance contracts, workers' compensation, and other benefits. Tax extension 2011 In most cases, you must report as income any amount you receive for personal injury or sickness through an accident or health plan that is paid for by your employer. Tax extension 2011 If both you and your employer pay for the plan, only the amount you receive that is due to your employer's payments is reported as income. Tax extension 2011 However, certain payments may not be taxable to you. Tax extension 2011 Your employer should be able to give you specific details about your pension plan and tell you the amount you paid for your disability pension. Tax extension 2011 In addition to disability pensions and annuities, you may be receiving other payments for sickness and injury. Tax extension 2011 Do not report as income any amounts paid to reimburse you for medical expenses you incurred after the plan was established. Tax extension 2011 Cost paid by you. Tax extension 2011   If you pay the entire cost of a health or accident insurance plan, do not include any amounts you receive from the plan for personal injury or sickness as income on your tax return. Tax extension 2011 If your plan reimbursed you for medical expenses you deducted in an earlier year, you may have to include some, or all, of the reimbursement in your income. Tax extension 2011 See Reimbursement in a later year in chapter 21. Tax extension 2011 Cafeteria plans. Tax extension 2011   In most cases, if you are covered by an accident or health insurance plan through a cafeteria plan, and the amount of the insurance premiums was not included in your income, you are not considered to have paid the premiums and you must include any benefits you receive in your income. Tax extension 2011 If the amount of the premiums was included in your income, you are considered to have paid the premiums, and any benefits you receive are not taxable. Tax extension 2011 Disability Pensions If you retired on disability, you must include in income any disability pension you receive under a plan that is paid for by your employer. Tax extension 2011 You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A, until you reach minimum retirement age. Tax extension 2011 Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. Tax extension 2011 You may be entitled to a tax credit if you were permanently and totally disabled when you retired. Tax extension 2011 For information on this credit and the definition of permanent and total disability, see chapter 33. Tax extension 2011 Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. Tax extension 2011 Report the payments on lines 16a and 16b of Form 1040 or on lines 12a and 12b of Form 1040A. Tax extension 2011 The rules for reporting pensions are explained in How To Report in chapter 10. Tax extension 2011 For information on disability payments from a governmental program provided as a substitute for unemployment compensation, see chapter 12. Tax extension 2011 Retirement and profit-sharing plans. Tax extension 2011   If you receive payments from a retirement or profit-sharing plan that does not provide for disability retirement, do not treat the payments as a disability pension. Tax extension 2011 The payments must be reported as a pension or annuity. Tax extension 2011 For more information on pensions, see chapter 10. Tax extension 2011 Accrued leave payment. Tax extension 2011   If you retire on disability, any lump-sum payment you receive for accrued annual leave is a salary payment. Tax extension 2011 The payment is not a disability payment. Tax extension 2011 Include it in your income in the tax year you receive it. Tax extension 2011 Military and Government Disability Pensions Certain military and government disability pensions are not taxable. Tax extension 2011 Service-connected disability. Tax extension 2011   You may be able to exclude from income amounts you receive as a pension, annuity, or similar allowance for personal injury or sickness resulting from active service in one of the following government services. Tax extension 2011 The armed forces of any country. Tax extension 2011 The National Oceanic and Atmospheric Administration. Tax extension 2011 The Public Health Service. Tax extension 2011 The Foreign Service. Tax extension 2011 Conditions for exclusion. Tax extension 2011   Do not include the disability payments in your income if any of the following conditions apply. Tax extension 2011 You were entitled to receive a disability payment before September 25, 1975. Tax extension 2011 You were a member of a listed government service or its reserve component, or were under a binding written commitment to become a member, on September 24, 1975. Tax extension 2011 You receive the disability payments for a combat-related injury. Tax extension 2011 This is a personal injury or sickness that Results directly from armed conflict, Takes place while you are engaged in extra-hazardous service, Takes place under conditions simulating war, including training exercises such as maneuvers, or Is caused by an instrumentality of war. Tax extension 2011 You would be entitled to receive disability compensation from the Department of Veterans Affairs (VA) if you filed an application for it. Tax extension 2011 Your exclusion under this condition is equal to the amount you would be entitled to receive from the VA. Tax extension 2011 Pension based on years of service. Tax extension 2011   If you receive a disability pension based on years of service, in most cases you must include it in your income. Tax extension 2011 However, if the pension qualifies for the exclusion for a service-connected disability (discussed earlier), do not include in income the part of your pension that you would have received if the pension had been based on a percentage of disability. Tax extension 2011 You must include the rest of your pension in your income. Tax extension 2011 Retroactive VA determination. Tax extension 2011   If you retire from the armed services based on years of service and are later given a retroactive service-connected disability rating by the VA, your retirement pay for the retroactive period is excluded from income up to the amount of VA disability benefits you would have been entitled to receive. Tax extension 2011 You can claim a refund of any tax paid on the excludable amount (subject to the statute of limitations) by filing an amended return on Form 1040X for each previous year during the retroactive period. Tax extension 2011 You must include with each Form 1040X a copy of the official VA Determination letter granting the retroactive benefit. Tax extension 2011 The letter must show the amount withheld and the effective date of the benefit. Tax extension 2011   If you receive a lump-sum disability severance payment and are later awarded VA disability benefits, exclude 100% of the severance benefit from your income. Tax extension 2011 However, you must include in your income any lump-sum readjustment or other nondisability severance payment you received on release from active duty, even if you are later given a retroactive disability rating by the VA. Tax extension 2011 Special statute of limitations. Tax extension 2011   In most cases, under the statute of limitations a claim for credit or refund must be filed within 3 years from the time a return was filed. Tax extension 2011 However, if you receive a retroactive service-connected disability rating determination, the statute of limitations is extended by a 1-year period beginning on the date of the determination. Tax extension 2011 This 1-year extended period applies to claims for credit or refund filed after June 17, 2008, and does not apply to any tax year that began more than 5 years before the date of the determination. Tax extension 2011 Example. Tax extension 2011 You retired in 2007 and receive a pension based on your years of service. Tax extension 2011 On August 1, 2013, you receive a determination of service-connected disability retroactive to 2007. Tax extension 2011 Generally, you could claim a refund for the taxes paid on your pension for 2010, 2011, and 2012. Tax extension 2011 However, under the special limitation period, you can also file a claim for 2009 as long as you file the claim by August 1, 2014. Tax extension 2011 You cannot file a claim for 2007 and 2008 because those tax years began more than 5 years before the determination. Tax extension 2011 Terrorist attack or military action. Tax extension 2011   Do not include in your income disability payments you receive for injuries resulting directly from a terrorist or military action. Tax extension 2011 Long-Term Care Insurance Contracts Long-term care insurance contracts in most cases are treated as accident and health insurance contracts. Tax extension 2011 Amounts you receive from them (other than policyholder dividends or premium refunds) in most cases are excludable from income as amounts received for personal injury or sickness. Tax extension 2011 To claim an exclusion for payments made on a per diem or other periodic basis under a long-term care insurance contract, you must file Form 8853 with your return. Tax extension 2011 A long-term care insurance contract is an insurance contract that only provides coverage for qualified long-term care services. Tax extension 2011 The contract must: Be guaranteed renewable, Not provide for a cash surrender value or other money that can be paid, assigned, pledged, or borrowed, Provide that refunds, other than refunds on the death of the insured or complete surrender or cancellation of the contract, and dividends under the contract may be used only to reduce future premiums or increase future benefits, and In most cases, not pay or reimburse expenses incurred for services or items that would be reimbursed under Medicare, except where Medicare is a secondary payer or the contract makes per diem or other periodic payments without regard to expenses. Tax extension 2011 Qualified long-term care services. Tax extension 2011   Qualified long-term care services are: Necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services, and maintenance and personal care services, and Required by a chronically ill individual and provided pursuant to a plan of care as prescribed by a licensed health care practitioner. Tax extension 2011 Chronically ill individual. Tax extension 2011   A chronically ill individual is one who has been certified by a licensed health care practitioner within the previous 12 months as one of the following: An individual who, for at least 90 days, is unable to perform at least two activities of daily living without substantial assistance due to loss of functional capacity. Tax extension 2011 Activities of daily living are eating, toileting, transferring, bathing, dressing, and continence. Tax extension 2011 An individual who requires substantial supervision to be protected from threats to health and safety due to severe cognitive impairment. Tax extension 2011 Limit on exclusion. Tax extension 2011   You generally can exclude from gross income up to $320 a day for 2013. Tax extension 2011 See Limit on exclusion, under Long-Term Care Insurance Contracts, under Sickness and Injury Benefits in Publication 525 for more information. Tax extension 2011 Workers' Compensation Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute in the nature of a workers' compensation act. Tax extension 2011 The exemption also applies to your survivors. Tax extension 2011 The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury. Tax extension 2011 If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits received, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. Tax extension 2011 For more information, see Publication 915, Social Security and Equivalent Railroad Retirement Benefits. Tax extension 2011 Return to work. Tax extension 2011    If you return to work after qualifying for workers' compensation, salary payments you receive for performing light duties are taxable as wages. Tax extension 2011 Other Sickness and Injury Benefits In addition to disability pensions and annuities, you may receive other payments for sickness or injury. Tax extension 2011 Railroad sick pay. Tax extension 2011    Payments you receive as sick pay under the Railroad Unemployment Insurance Act are taxable and you must include them in your income. Tax extension 2011 However, do not include them in your income if they are for an on-the-job injury. Tax extension 2011   If you received income because of a disability, see Disability Pensions , earlier. Tax extension 2011 Federal Employees' Compensation Act (FECA). Tax extension 2011   Payments received under this Act for personal injury or sickness, including payments to beneficiaries in case of death, are not taxable. Tax extension 2011 However, you are taxed on amounts you receive under this Act as continuation of pay for up to 45 days while a claim is being decided. Tax extension 2011 Report this income on line 7 of Form 1040 or Form 1040A or on line 1 of Form 1040-EZ. Tax extension 2011 Also, pay for sick leave while a claim is being processed is taxable and must be included in your income as wages. Tax extension 2011    If part of the payments you receive under FECA reduces your social security or equivalent railroad retirement benefits received, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. Tax extension 2011 For a discussion of the taxability of these benefits, see Social security and equivalent railroad retirement benefits under Other Income, in Publication 525. Tax extension 2011    You can deduct the amount you spend to buy back sick leave for an earlier year to be eligible for nontaxable FECA benefits for that period. Tax extension 2011 It is a miscellaneous deduction subject to the 2%-of-AGI limit on Schedule A (Form 1040). Tax extension 2011 If you buy back sick leave in the same year you used it, the amount reduces your taxable sick leave pay. Tax extension 2011 Do not deduct it separately. Tax extension 2011 Other compensation. Tax extension 2011   Many other amounts you receive as compensation for sickness or injury are not taxable. Tax extension 2011 These include the following amounts. Tax extension 2011 Compensatory damages you receive for physical injury or physical sickness, whether paid in a lump sum or in periodic payments. Tax extension 2011 Benefits you receive under an accident or health insurance policy on which either you paid the premiums or your employer paid the premiums but you had to include them in your income. Tax extension 2011 Disability benefits you receive for loss of income or earning capacity as a result of injuries under a no-fault car insurance policy. Tax extension 2011 Compensation you receive for permanent loss or loss of use of a part or function of your body, or for your permanent disfigurement. Tax extension 2011 This compensation must be based only on the injury and not on the period of your absence from work. Tax extension 2011 These benefits are not taxable even if your employer pays for the accident and health plan that provides these benefits. Tax extension 2011 Reimbursement for medical care. Tax extension 2011    A reimbursement for medical care is generally not taxable. Tax extension 2011 However, it may reduce your medical expense deduction. Tax extension 2011 For more information, see chapter 21. Tax extension 2011 Prev  Up  Next   Home   More Online Publications