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2011 Tax Form
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2011 Tax Form
2011 tax form Publication 544 - Introductory Material Table of Contents Future Developments What's New Important Reminders IntroductionOrdering forms and publications. 2011 tax form Tax questions. 2011 tax form Future Developments For the latest information about developments related to Publication 544, such as legislation enacted after it was published, go to www. 2011 tax form irs. 2011 tax form gov/pub544. 2011 tax form What's New Direct reporting on Schedule D. 2011 tax form For 2013, certain transactions may be combined and the totals reported directly on Schedule D. 2011 tax form If you choose to do that, you do not need to include these transactions on Form 8949, Sales and Other Dispositions of Capital Assets. 2011 tax form For additional information, see Schedule D and Form 8949 in chapter 4. 2011 tax form Tax rate on net capital gain and qualified dividends. 2011 tax form The maximum tax rate of 15% on net capital gain and qualified dividends has increased to 20% for some taxpayers. 2011 tax form See Capital Gains Tax Rates in chapter 4. 2011 tax form Important Reminders Dispositions of U. 2011 tax form S. 2011 tax form real property interests by foreign persons. 2011 tax form If you are a foreign person or firm and you sell or otherwise dispose of a U. 2011 tax form S. 2011 tax form real property interest, the buyer (or other transferee) may have to withhold income tax on the amount you receive for the property (including cash, the fair market value of other property, and any assumed liability). 2011 tax form Corporations, partnerships, trusts, and estates also may have to withhold on certain U. 2011 tax form S. 2011 tax form real property interests they distribute to you. 2011 tax form You must report these dispositions and distributions and any income tax withheld on your U. 2011 tax form S. 2011 tax form income tax return. 2011 tax form For more information on dispositions of U. 2011 tax form S. 2011 tax form real property interests, see Publication 519, U. 2011 tax form S. 2011 tax form Tax Guide for Aliens. 2011 tax form Also see Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities. 2011 tax form Foreign source income. 2011 tax form If you are a U. 2011 tax form S. 2011 tax form citizen with income from dispositions of property outside the United States (foreign income), you must report all such income on your tax return unless it is exempt from U. 2011 tax form S. 2011 tax form law. 2011 tax form This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payor. 2011 tax form Photographs of missing children. 2011 tax form The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 2011 tax form Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 2011 tax form You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 2011 tax form Introduction You dispose of property when any of the following occurs. 2011 tax form You sell property. 2011 tax form You exchange property for other property. 2011 tax form Your property is condemned or disposed of under threat of condemnation. 2011 tax form Your property is repossessed. 2011 tax form You abandon property. 2011 tax form You give property away. 2011 tax form This publication explains the tax rules that apply when you dispose of property. 2011 tax form It discusses the following topics. 2011 tax form How to figure a gain or loss. 2011 tax form Whether your gain or loss is ordinary or capital. 2011 tax form How to treat your gain or loss when you dispose of business property. 2011 tax form How to report a gain or loss. 2011 tax form This publication also explains whether your gain is taxable or your loss is deductible. 2011 tax form This publication does not discuss certain transactions covered in other IRS publications. 2011 tax form These include the following. 2011 tax form Most transactions involving stocks, bonds, options, forward and futures contracts, and similar investments. 2011 tax form See chapter 4 of Publication 550, Investment Income and Expenses. 2011 tax form Sale of your main home. 2011 tax form See Publication 523, Selling Your Home. 2011 tax form Installment sales. 2011 tax form See Publication 537, Installment Sales. 2011 tax form Transfers of property at death. 2011 tax form See Publication 559, Survivors, Executors, and Administrators. 2011 tax form Forms to file. 2011 tax form When you dispose of property, you usually will have to file one or more of the following forms. 2011 tax form Schedule D, Capital Gains and Losses. 2011 tax form Form 4797, Sales of Business Property. 2011 tax form Form 8824, Like-Kind Exchanges. 2011 tax form Form 8949, Sales and Other Dispositions of Capital Assets. 2011 tax form Although the discussions in this publication may at times refer mainly to individuals, many of the rules discussed also apply to taxpayers other than individuals. 2011 tax form However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. 2011 tax form Comments and suggestions. 2011 tax form We welcome your comments about this publication and your suggestions for future editions. 2011 tax form You can send your comments to the following address. 2011 tax form Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 2011 tax form NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. 2011 tax form Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 2011 tax form You can also send us comments from www. 2011 tax form irs. 2011 tax form gov/formspubs/. 2011 tax form Click on “More Information ” and then on “Give us feedback. 2011 tax form ” Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax products. 2011 tax form Ordering forms and publications. 2011 tax form Visit www. 2011 tax form irs. 2011 tax form gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. 2011 tax form Internal Revenue Service 1201 N. 2011 tax form Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 2011 tax form If you have a tax question, check the information available on IRS. 2011 tax form gov or call 1-800-829-1040. 2011 tax form We cannot answer tax questions sent to either of the above addresses. 2011 tax form Prev Up Next Home More Online Publications
The 2011 Tax Form
2011 tax form 13. 2011 tax form Payment of Taxes Table of Contents How To Make Deposits When To Make Deposits Amount of DepositsSafe Harbor Rule Generally, semimonthly deposits of excise taxes are required. 2011 tax form A semimonthly period is the first 15 days of a month (the first semimonthly period) or the 16th through the last day of a month (the second semimonthly period). 2011 tax form However, no deposit is required for the situations listed below; the taxes are payable with Form 720. 2011 tax form The net liability for taxes listed in Part I (Form 720) does not exceed $2,500 for the quarter. 2011 tax form The gas guzzler tax is being paid on a one-time filing. 2011 tax form The liability is for taxes listed in Part II (Form 720), except for the floor stocks tax which generally requires a single deposit. 2011 tax form How To Make Deposits Electronic deposit requirement. 2011 tax form You must use electronic funds transfer to make excise tax deposits. 2011 tax form Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). 2011 tax form If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make deposits on your behalf. 2011 tax form Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. 2011 tax form EFTPS is a free service provided by the Department of Treasury. 2011 tax form Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. 2011 tax form To get more information about EFTPS or to enroll in EFTPS, visit www. 2011 tax form eftps. 2011 tax form gov or call 1-800-555-4477. 2011 tax form Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide to Getting Started. 2011 tax form Depositing on time. 2011 tax form For EFTPS deposits to be on time, you must initiate the transaction at least 1 day before the date the deposit is due (before 8:00 p. 2011 tax form m. 2011 tax form Eastern time). 2011 tax form You will automatically be enrolled in EFTPS when you apply for an EIN. 2011 tax form You will receive a separate mailing containing instructions for activating your EFTPS enrollment after you receive your EIN. 2011 tax form When To Make Deposits There are two methods for determining deposits: the regular method and the alternative method. 2011 tax form The regular method applies to all taxes in Part I of Form 720 except for communications and air transportation taxes if deposits are based on amounts billed or tickets sold, rather than on amounts actually collected. 2011 tax form See Alternative method below. 2011 tax form If you are depositing more than one tax under a method, combine all the taxes under the method and make one deposit for the semimonthly period. 2011 tax form Regular method. 2011 tax form The deposit of tax for a semimonthly period is due by the 14th day following that period. 2011 tax form Generally, this is the 29th day of a month for the first semimonthly period and the 14th day of the following month for the second semimonthly period. 2011 tax form If the 14th or the 29th day falls on a Saturday, Sunday, or legal holiday, you must make the deposit by the immediately preceding day that is not a Saturday, Sunday, or legal holiday. 2011 tax form Alternative method (IRS Nos. 2011 tax form 22, 26, 27, and 28). 2011 tax form Deposits of communications and air transportation taxes may be based on taxes included in amounts billed or tickets sold during a semimonthly period instead of on taxes actually collected during the period. 2011 tax form Under the alternative method, the tax included in amounts billed or tickets sold during a semimonthly period is considered collected during the first 7 days of the second following semimonthly period. 2011 tax form The deposit of tax is due by the 3rd banking day after the 7th day of that period. 2011 tax form For an example of the alternative method, see the Instructions for Form 720. 2011 tax form To use the alternative method, you must keep a separate account of the tax included in amounts billed or tickets sold during the month and report on Form 720 the tax included in amounts billed or tickets sold and not the amount of tax that is actually collected. 2011 tax form For example, amounts billed in December, January, and February are considered collected during January, February, and March and are reported on Form 720 as the tax for the 1st quarter of the calendar year. 2011 tax form The separate account for each month must reflect: All items of tax included in amounts billed or tickets sold during the month, and Other items of adjustment relating to tax for prior months (within the statute of limitations on credits or refunds). 2011 tax form The separate account for any month cannot include an adjustment resulting from a refusal to pay or inability to collect unless the refusal has been reported to the IRS. 2011 tax form See Uncollected Tax Report in chapter 4. 2011 tax form The net amount of tax that is considered collected during the semimonthly period must be either: The net amount of tax reflected in the separate account for the corresponding semimonthly period of the preceding month, or One-half of the net amount of tax reflected in the separate account for the preceding month. 2011 tax form Special rule for deposits of taxes in September. 2011 tax form See the Instructions for Form 720 for a special rule on deposits made in September. 2011 tax form Amount of Deposits Deposits for a semimonthly period generally must be at least 95% of the net tax liability for that period unless the safe harbor rule (discussed later) applies. 2011 tax form Generally, you do not have to make a deposit for a period in which you incurred no tax liability. 2011 tax form Net tax liability. 2011 tax form Your net tax liability is your tax liability for the period minus any claims on Schedule C (Form 720) for the period. 2011 tax form You may figure your net tax liability for a semimonthly period by dividing your net liability incurred during the calendar month by two. 2011 tax form If you use this method, you must use it for all semimonthly periods in the calendar quarter. 2011 tax form Do not reduce your liability by any amounts from Form 720X. 2011 tax form Safe Harbor Rule The safe harbor rule applies separately to deposits under the regular method and the alternative method. 2011 tax form Persons who filed Form 720 for the look-back quarter (the 2nd calendar quarter preceding the current quarter) are considered to meet the semimonthly deposit requirement if the deposit for each semimonthly period in the current quarter is at least 1/6 (16. 2011 tax form 67%) of the net tax liability reported for the look-back quarter. 2011 tax form For the semimonthly period for which the additional deposit is required, the additional deposit must be at least 11/90 12. 2011 tax form 23%), 10/90 (11. 2011 tax form 12%) for non-EFTPS, of the net tax liability reported for the look-back quarter. 2011 tax form Also, the total deposit for that semimonthly period must be at least 1/6 (16. 2011 tax form 67%) of the net tax liability reported for the look-back quarter. 2011 tax form Exceptions. 2011 tax form The safe harbor rule does not apply to: The 1st and 2nd quarters beginning on or after the effective date of an increase in the rate of tax unless the deposit of taxes for each semimonthly period in the calendar quarter is at least 1/6 (16. 2011 tax form 67%) of the tax liability you would have had for the look-back quarter if the increased rate of tax had been in effect for that look-back quarter, Any quarter if liability includes any tax not in effect throughout the look-back quarter, or For deposits under the alternative method, any quarter if liability includes any tax not in effect throughout the look-back quarter and the month preceding the look-back quarter. 2011 tax form Requirements to be met. 2011 tax form For the safe harbor rule to apply, you must: Make each deposit timely at an authorized financial institution, and Pay any underpayment for the current quarter by the due date of the return. 2011 tax form The IRS may withdraw the right to make deposits of tax using the safe harbor rule from any person not complying with these rules. 2011 tax form Tax rate increases. 2011 tax form You must modify the safe harbor rule if there has been an increase in the rate of tax. 2011 tax form You must figure your tax liability in the look-back quarter as if the increased rate had been in effect. 2011 tax form To qualify for the safe harbor rule, your deposits cannot be less than 1/6 of the refigured tax liability. 2011 tax form Prev Up Next Home More Online Publications