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1040x Filing Instructions

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1040x Filing Instructions

1040x filing instructions 5. 1040x filing instructions   How To Get Tax Help Table of Contents Low Income Taxpayer Clinics Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. 1040x filing instructions Free help with your tax return. 1040x filing instructions   You can get free help preparing your return nationwide from IRS-certified volunteers. 1040x filing instructions The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 1040x filing instructions The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 1040x filing instructions Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 1040x filing instructions In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 1040x filing instructions To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 1040x filing instructions gov, download the IRS2Go app, or call 1-800-906-9887. 1040x filing instructions   As part of the TCE program, AARP offers the Tax-Aide counseling program. 1040x filing instructions To find the nearest AARP Tax-Aide site, visit AARP's website at www. 1040x filing instructions aarp. 1040x filing instructions org/money/taxaide or call 1-888-227-7669. 1040x filing instructions For more information on these programs, go to IRS. 1040x filing instructions gov and enter “VITA” in the search box. 1040x filing instructions Internet. 1040x filing instructions    IRS. 1040x filing instructions gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 1040x filing instructions Download the free IRS2Go app from the iTunes app store or from Google Play. 1040x filing instructions Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 1040x filing instructions Check the status of your 2013 refund with the Where's My Refund? application on IRS. 1040x filing instructions gov or download the IRS2Go app and select the Refund Status option. 1040x filing instructions The IRS issues more than 9 out of 10 refunds in less than 21 days. 1040x filing instructions Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 1040x filing instructions You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 1040x filing instructions The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 1040x filing instructions Use the Interactive Tax Assistant (ITA) to research your tax questions. 1040x filing instructions No need to wait on the phone or stand in line. 1040x filing instructions The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. 1040x filing instructions When you reach the response screen, you can print the entire interview and the final response for your records. 1040x filing instructions New subject areas are added on a regular basis. 1040x filing instructions  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 1040x filing instructions gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 1040x filing instructions You can use the IRS Tax Map, to search publications and instructions by topic or keyword. 1040x filing instructions The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 1040x filing instructions When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 1040x filing instructions Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 1040x filing instructions You can also ask the IRS to mail a return or an account transcript to you. 1040x filing instructions Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 1040x filing instructions gov or by calling 1-800-908-9946. 1040x filing instructions Tax return and tax account transcripts are generally available for the current year and the past three years. 1040x filing instructions Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 1040x filing instructions Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 1040x filing instructions If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 1040x filing instructions Check the status of your amended return using Where's My Amended Return? Go to IRS. 1040x filing instructions gov and enter Where's My Amended Return? in the search box. 1040x filing instructions You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 1040x filing instructions It can take up to 3 weeks from the date you mailed it to show up in our system. 1040x filing instructions Make a payment using one of several safe and convenient electronic payment options available on IRS. 1040x filing instructions gov. 1040x filing instructions Select the Payment tab on the front page of IRS. 1040x filing instructions gov for more information. 1040x filing instructions Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 1040x filing instructions Figure your income tax withholding with the IRS Withholding Calculator on IRS. 1040x filing instructions gov. 1040x filing instructions Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 1040x filing instructions Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 1040x filing instructions gov. 1040x filing instructions Request an Electronic Filing PIN by going to IRS. 1040x filing instructions gov and entering Electronic Filing PIN in the search box. 1040x filing instructions Download forms, instructions and publications, including accessible versions for people with disabilities. 1040x filing instructions Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 1040x filing instructions gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 1040x filing instructions An employee can answer questions about your tax account or help you set up a payment plan. 1040x filing instructions Before you visit, check the Office Locator on IRS. 1040x filing instructions gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 1040x filing instructions If you have a special need, such as a disability, you can request an appointment. 1040x filing instructions Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 1040x filing instructions Apply for an Employer Identification Number (EIN). 1040x filing instructions Go to IRS. 1040x filing instructions gov and enter Apply for an EIN in the search box. 1040x filing instructions Read the Internal Revenue Code, regulations, or other official guidance. 1040x filing instructions Read Internal Revenue Bulletins. 1040x filing instructions Sign up to receive local and national tax news and more by email. 1040x filing instructions Just click on “subscriptions” above the search box on IRS. 1040x filing instructions gov and choose from a variety of options. 1040x filing instructions    Phone. 1040x filing instructions You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 1040x filing instructions Download the free IRS2Go app from the iTunes app store or from Google Play. 1040x filing instructions Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 1040x filing instructions gov, or download the IRS2Go app. 1040x filing instructions Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 1040x filing instructions The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 1040x filing instructions Most VITA and TCE sites offer free electronic filing. 1040x filing instructions Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 1040x filing instructions Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 1040x filing instructions Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. 1040x filing instructions If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 1040x filing instructions The IRS issues more than 9 out of 10 refunds in less than 21 days. 1040x filing instructions Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 1040x filing instructions Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. 1040x filing instructions The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 1040x filing instructions Note, the above information is for our automated hotline. 1040x filing instructions Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. 1040x filing instructions Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 1040x filing instructions You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 1040x filing instructions It can take up to 3 weeks from the date you mailed it to show up in our system. 1040x filing instructions Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). 1040x filing instructions You should receive your order within 10 business days. 1040x filing instructions Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 1040x filing instructions If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. 1040x filing instructions Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 1040x filing instructions The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 1040x filing instructions These individuals can also contact the IRS through relay services such as the Federal Relay Service. 1040x filing instructions    Walk-in. 1040x filing instructions You can find a selection of forms, publications and services — in-person. 1040x filing instructions Products. 1040x filing instructions You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 1040x filing instructions Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 1040x filing instructions Services. 1040x filing instructions You can walk in to your local TAC for face-to-face tax help. 1040x filing instructions An employee can answer questions about your tax account or help you set up a payment plan. 1040x filing instructions Before visiting, use the Office Locator tool on IRS. 1040x filing instructions gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 1040x filing instructions    Mail. 1040x filing instructions You can send your order for forms, instructions, and publications to the address below. 1040x filing instructions You should receive a response within 10 business days after your request is received. 1040x filing instructions Internal Revenue Service 1201 N. 1040x filing instructions Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. 1040x filing instructions The Taxpayer Advocate Service (TAS) is your voice at the IRS. 1040x filing instructions Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 1040x filing instructions   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 1040x filing instructions We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 1040x filing instructions You face (or your business is facing) an immediate threat of adverse action. 1040x filing instructions You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 1040x filing instructions   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 1040x filing instructions Here's why we can help: TAS is an independent organization within the IRS. 1040x filing instructions Our advocates know how to work with the IRS. 1040x filing instructions Our services are free and tailored to meet your needs. 1040x filing instructions We have offices in every state, the District of Columbia, and Puerto Rico. 1040x filing instructions   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. 1040x filing instructions   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 1040x filing instructions If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 1040x filing instructions Low Income Taxpayer Clinics Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. 1040x filing instructions Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. 1040x filing instructions Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. 1040x filing instructions Prev  Up  Next   Home   More Online Publications
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The 1040x Filing Instructions

1040x filing instructions Internal Revenue Bulletin:  2012-14  April 2, 2012  Rev. 1040x filing instructions Proc. 1040x filing instructions 2012-23 Table of Contents SECTION 1. 1040x filing instructions PURPOSE SECTION 2. 1040x filing instructions BACKGROUND SECTION 3. 1040x filing instructions SCOPE SECTION 4. 1040x filing instructions APPLICATION. 1040x filing instructions 01 Limitations on Depreciation Deductions for Certain Automobiles. 1040x filing instructions . 1040x filing instructions 02 Inclusions in Income of Lessees of Passenger Automobiles. 1040x filing instructions SECTION 5. 1040x filing instructions EFFECTIVE DATE SECTION 6. 1040x filing instructions DRAFTING INFORMATION SECTION 1. 1040x filing instructions PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2012, including separate tables of limitations on depreciation deductions for trucks and vans; and (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2012, including a separate table of inclusion amounts for lessees of trucks and vans. 1040x filing instructions The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. 1040x filing instructions SECTION 2. 1040x filing instructions BACKGROUND . 1040x filing instructions 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 1040x filing instructions For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. 1040x filing instructions The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 1040x filing instructions This change reflects the higher rate of price inflation for trucks and vans since 1988. 1040x filing instructions . 1040x filing instructions 02 Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. 1040x filing instructions L. 1040x filing instructions No. 1040x filing instructions 111-312, 124 Stat. 1040x filing instructions 3296 (Dec. 1040x filing instructions 17, 2010) (the “Act”) extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. 1040x filing instructions Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. 1040x filing instructions . 1040x filing instructions 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). 1040x filing instructions Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. 1040x filing instructions Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv)). 1040x filing instructions Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. 1040x filing instructions This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2012 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. 1040x filing instructions . 1040x filing instructions 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 1040x filing instructions The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 1040x filing instructions Under § 1. 1040x filing instructions 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. 1040x filing instructions One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 1040x filing instructions Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 1040x filing instructions SECTION 3. 1040x filing instructions SCOPE . 1040x filing instructions 01 The limitations on depreciation deductions in section 4. 1040x filing instructions 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2012, and continue to apply for each taxable year that the passenger automobile remains in service. 1040x filing instructions . 1040x filing instructions 02 The tables in section 4. 1040x filing instructions 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2012. 1040x filing instructions Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 1040x filing instructions See Rev. 1040x filing instructions Proc. 1040x filing instructions 2007-30, 2007-1 C. 1040x filing instructions B. 1040x filing instructions 1104, for passenger automobiles first leased during calendar year 2007; Rev. 1040x filing instructions Proc. 1040x filing instructions 2008-22, 2008-1 C. 1040x filing instructions B. 1040x filing instructions 658, for passenger automobiles first leased during calendar year 2008; Rev. 1040x filing instructions Proc. 1040x filing instructions 2009-24, 2009-17 I. 1040x filing instructions R. 1040x filing instructions B. 1040x filing instructions 885, for passenger automobiles first leased during calendar year 2009; Rev. 1040x filing instructions Proc. 1040x filing instructions 2010-18, 2010-9 I. 1040x filing instructions R. 1040x filing instructions B. 1040x filing instructions 427, as amplified and modified by section 4. 1040x filing instructions 03 of Rev. 1040x filing instructions Proc. 1040x filing instructions 2011-21, 2011-12 I. 1040x filing instructions R. 1040x filing instructions B. 1040x filing instructions 560, for passenger automobiles first leased during calendar year 2010; and Rev. 1040x filing instructions Proc. 1040x filing instructions 2011-21, for passenger automobiles first leased during calendar year 2011. 1040x filing instructions SECTION 4. 1040x filing instructions APPLICATION . 1040x filing instructions 01 Limitations on Depreciation Deductions for Certain Automobiles. 1040x filing instructions (1) Amount of the inflation adjustment. 1040x filing instructions (a) Passenger automobiles (other than trucks or vans). 1040x filing instructions Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 1040x filing instructions Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 1040x filing instructions The new car component of the CPI was 115. 1040x filing instructions 2 for October 1987 and 143. 1040x filing instructions 419 for October 2011. 1040x filing instructions The October 2011 index exceeded the October 1987 index by 28. 1040x filing instructions 219. 1040x filing instructions Therefore, the automobile price inflation adjustment for 2012 for passenger automobiles (other than trucks and vans) is 24. 1040x filing instructions 5 percent (28. 1040x filing instructions 219/115. 1040x filing instructions 2 x 100%). 1040x filing instructions The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040x filing instructions 245, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2012. 1040x filing instructions This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2012. 1040x filing instructions (b) Trucks and vans. 1040x filing instructions To determine the dollar limitations for trucks and vans first placed in service during calendar year 2012, the Service uses the new truck component of the CPI instead of the new car component. 1040x filing instructions The new truck component of the CPI was 112. 1040x filing instructions 4 for October 1987 and 146. 1040x filing instructions 607 for October 2011. 1040x filing instructions The October 2011 index exceeded the October 1987 index by 34. 1040x filing instructions 207. 1040x filing instructions Therefore, the automobile price inflation adjustment for 2012 for trucks and vans is 30. 1040x filing instructions 43 percent (34. 1040x filing instructions 207/112. 1040x filing instructions 4 x 100%). 1040x filing instructions The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040x filing instructions 3043, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 1040x filing instructions This adjustment applies to all trucks and vans that are first placed in service in calendar year 2012. 1040x filing instructions (2) Amount of the limitation. 1040x filing instructions Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2012. 1040x filing instructions Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2012 for which the § 168(k) additional first year depreciation deduction applies. 1040x filing instructions Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2012 for which the § 168(k) additional first year depreciation deduction does not apply. 1040x filing instructions REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,360 2nd Tax Year $5,300 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,360 2nd Tax Year $5,300 3rd Tax Year $3,150 Each Succeeding Year $1,875 . 1040x filing instructions 02 Inclusions in Income of Lessees of Passenger Automobiles. 1040x filing instructions A taxpayer must follow the procedures in § 1. 1040x filing instructions 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2012. 1040x filing instructions In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. 1040x filing instructions REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2012 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $18,500 $19,000 2 4 5 6 8 19,000 19,500 2 4 7 7 9 19,500 20,000 2 5 8 8 10 20,000 20,500 3 5 9 10 11 20,500 21,000 3 6 9 12 12 21,000 21,500 3 7 10 12 14 21,500 22,000 3 8 11 13 16 22,000 23,000 4 8 13 15 17 23,000 24,000 4 10 15 17 20 24,000 25,000 5 11 17 19 23 25,000 26,000 6 12 19 21 26 26,000 27,000 6 14 20 24 28 27,000 28,000 7 15 22 26 31 28,000 29,000 7 16 25 28 33 29,000 30,000 8 18 25 32 35 30,000 31,000 9 19 27 34 38 31,000 32,000 9 20 30 36 41 32,000 33,000 10 21 32 38 43 33,000 34,000 10 23 33 41 46 34,000 35,000 11 24 35 43 49 35,000 36,000 12 25 37 45 52 36,000 37,000 12 27 39 47 54 37,000 38,000 13 28 41 49 57 38,000 39,000 13 29 43 52 59 39,000 40,000 14 30 45 54 62 40,000 41,000 14 32 47 56 65 41,000 42,000 15 33 49 58 68 42,000 43,000 16 34 51 61 70 43,000 44,000 16 36 52 63 73 44,000 45,000 17 37 54 66 75 45,000 46,000 17 38 57 67 78 46,000 47,000 18 39 59 70 80 47,000 48,000 19 40 61 72 83 48,000 49,000 19 42 62 75 86 49,000 50,000 20 43 64 77 89 50,000 51,000 20 45 66 79 91 51,000 52,000 21 46 68 81 94 52,000 53,000 21 47 70 84 96 53,000 54,000 22 48 72 86 99 54,000 55,000 23 49 74 88 102 55,000 56,000 23 51 76 90 104 56,000 57,000 24 52 78 92 107 57,000 58,000 24 54 79 95 110 58,000 59,000 25 55 81 97 113 59,000 60,000 26 56 83 100 115 60,000 62,000 26 58 86 103 119 62,000 64,000 28 60 90 108 124 64,000 66,000 29 63 94 112 129 66,000 68,000 30 66 97 117 135 68,000 70,000 31 68 102 121 140 70,000 72,000 32 71 105 126 145 72,000 74,000 33 74 109 130 151 74,000 76,000 35 76 113 135 156 76,000 78,000 36 78 117 140 161 78,000 80,000 37 81 120 145 166 80,000 85,000 39 86 127 152 176 85,000 90,000 42 92 137 163 189 90,000 95,000 45 98 147 175 202 95,000 100,000 48 105 155 187 215 100,000 110,000 52 115 170 203 235 110,000 120,000 58 127 189 227 262 120,000 130,000 64 140 208 250 288 130,000 140,000 70 153 227 272 315 140,000 150,000 75 166 246 296 340 150,000 160,000 81 179 265 318 368 160,000 170,000 87 192 284 341 394 170,000 180,000 93 204 304 364 420 180,000 190,000 99 217 323 387 446 190,000 200,000 105 230 342 409 473 200,000 210,000 111 243 361 432 499 210,000 220,000 116 256 380 455 526 220,000 230,000 122 269 399 478 552 230,000 240,000 128 282 418 501 578 240,000 and up 134 294 437 524 605 REV. 1040x filing instructions PROC. 1040x filing instructions 2012-23 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2012 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $19,000 $19,500 1 4 5 6 7 19,500 20,000 2 4 6 7 9 20,000 20,500 2 5 7 8 10 20,500 21,000 2 5 8 10 11 21,000 21,500 3 6 9 10 13 21,500 22,000 3 6 10 12 14 22,000 23,000 3 8 11 14 15 23,000 24,000 4 9 13 16 18 24,000 25,000 4 10 15 19 21 25,000 26,000 5 11 17 21 24 26,000 27,000 6 12 19 23 26 27,000 28,000 6 14 21 25 29 28,000 29,000 7 15 23 27 32 29,000 30,000 7 17 24 30 34 30,000 31,000 8 18 26 32 37 31,000 32,000 9 19 28 34 40 32,000 33,000 9 20 31 36 42 33,000 34,000 10 21 33 39 44 34,000 35,000 10 23 34 41 48 35,000 36,000 11 24 36 44 50 36,000 37,000 12 25 38 46 53 37,000 38,000 12 27 40 48 55 38,000 39,000 13 28 42 50 58 39,000 40,000 13 29 44 53 60 40,000 41,000 14 31 45 55 63 41,000 42,000 14 32 48 57 66 42,000 43,000 15 33 50 59 69 43,000 44,000 16 34 52 61 72 44,000 45,000 16 36 53 64 74 45,000 46,000 17 37 55 66 77 46,000 47,000 17 38 58 68 79 47,000 48,000 18 40 59 70 82 48,000 49,000 19 41 61 73 84 49,000 50,000 19 42 63 75 87 50,000 51,000 20 43 65 78 89 51,000 52,000 20 45 66 80 93 52,000 53,000 21 46 68 83 95 53,000 54,000 21 48 70 84 98 54,000 55,000 22 49 72 87 100 55,000 56,000 23 50 74 89 103 56,000 57,000 23 51 76 92 105 57,000 58,000 24 52 78 94 108 58,000 59,000 24 54 80 96 111 59,000 60,000 25 55 82 98 114 60,000 62,000 26 57 85 101 118 62,000 64,000 27 60 88 106 123 64,000 66,000 28 62 93 110 128 66,000 68,000 29 65 96 115 134 68,000 70,000 30 67 100 120 139 70,000 72,000 32 70 103 125 144 72,000 74,000 33 72 108 129 149 74,000 76,000 34 75 111 134 155 76,000 78,000 35 78 115 138 160 78,000 80,000 36 80 119 143 165 80,000 85,000 38 85 125 151 175 85,000 90,000 41 91 135 163 187 90,000 95,000 44 98 144 174 201 95,000 100,000 47 104 154 185 214 100,000 110,000 52 113 169 202 234 110,000 120,000 57 127 187 225 261 120,000 130,000 63 139 207 248 287 130,000 140,000 69 152 226 271 313 140,000 150,000 75 165 245 294 339 150,000 160,000 81 178 264 316 366 160,000 170,000 87 190 283 340 392 170,000 180,000 92 204 302 362 419 180,000 190,000 98 216 322 385 445 190,000 200,000 104 229 340 409 471 200,000 210,000 110 242 359 431 498 210,000 220,000 116 255 378 454 524 220,000 230,000 122 267 398 477 551 230,000 240,000 127 281 416 500 577 240,000 and up 133 294 435 523 603 SECTION 5. 1040x filing instructions EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2012. 1040x filing instructions SECTION 6. 1040x filing instructions DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 1040x filing instructions Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 1040x filing instructions For further information regarding this revenue procedure, contact Mr. 1040x filing instructions Harvey at (202) 622-4930 (not a toll-free call). 1040x filing instructions Prev  Up  Next   Home   More Internal Revenue Bulletins