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Can You File An Amended Tax Return Online

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Can You File An Amended Tax Return Online

Can you file an amended tax return online Publication 501 - Main Content Table of Contents Who Must FileSelf-employed persons. Can you file an amended tax return online Filing Requirements for Most Taxpayers Dependents Other Situations Who Should File Filing StatusMarital Status Single Married Filing Jointly Married Filing Separately Head of Household Qualifying Widow(er) With Dependent Child ExemptionsForm 1040EZ filers. Can you file an amended tax return online Form 1040A filers. Can you file an amended tax return online Form 1040 filers. Can you file an amended tax return online More information. Can you file an amended tax return online Personal Exemptions Exemptions for Dependents Qualifying Child Qualifying Relative Phaseout of Exemptions Social Security Numbers for DependentsBorn and died in 2013. Can you file an amended tax return online Taxpayer identification numbers for aliens. Can you file an amended tax return online Taxpayer identification numbers for adoptees. Can you file an amended tax return online Standard DeductionStandard Deduction Amount Standard Deduction for Dependents Who Should Itemize How To Get Tax HelpLow Income Taxpayer Clinics Who Must File If you are a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen or resident alien, whether you must file a federal income tax return depends on your gross income, your filing status, your age, and whether you are a dependent. Can you file an amended tax return online For details, see Table 1 and Table 2. Can you file an amended tax return online You also must file if one of the situations described in Table 3 applies. Can you file an amended tax return online The filing requirements apply even if you owe no tax. Can you file an amended tax return online Table 1. Can you file an amended tax return online 2013 Filing Requirements Chart for Most Taxpayers IF your filing status is. Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online AND at the end of 2013 you were. Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online * THEN file a return if your gross income was at least. Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online ** single under 65  $10,000 65 or older $11,500 head of household under 65 $12,850 65 or older $14,350 married, filing jointly*** under 65 (both spouses) $20,000 65 or older (one spouse) $21,200 65 or older (both spouses) $22,400 married, filing separately any age  $3,900 qualifying widow(er) with dependent child under 65 $16,100 65 or older $17,300 * If you were born before January 2, 1949, you are considered to be 65 or older at the end of 2013. Can you file an amended tax return online ** Gross income means all income you receive in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you can exclude part or all of it). Can you file an amended tax return online Do not include any social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time during 2013 or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). Can you file an amended tax return online If (a) or (b) applies, see the Form 1040 instructions to figure the taxable part of social security benefits you must include in gross income. Can you file an amended tax return online Gross income includes gains, but not losses, reported on Form 8949 or Schedule D. Can you file an amended tax return online Gross income from a business means, for example, the amount on Schedule C, line 7, or Schedule F, line 9. Can you file an amended tax return online But in figuring gross income, do not reduce your income by any losses, including any loss on Schedule C, line 7, or Schedule F, line 9. Can you file an amended tax return online *** If you did not live with your spouse at the end of 2013 (or on the date your spouse died) and your gross income was at least $3,900, you must file a return regardless of your age. Can you file an amended tax return online You may have to pay a penalty if you are required to file a return but fail to do so. Can you file an amended tax return online If you willfully fail to file a return, you may be subject to criminal prosecution. Can you file an amended tax return online For information on what form to use — Form 1040EZ, Form 1040A, or Form 1040 — see the instructions for your tax return. Can you file an amended tax return online Gross income. Can you file an amended tax return online    Gross income is all income you receive in the form of money, goods, property, and services that is not exempt from tax. Can you file an amended tax return online If you are married and live with your spouse in a community property state, half of any income defined by state law as community income may be considered yours. Can you file an amended tax return online For a list of community property states, see Community property states under Married Filing Separately, later. Can you file an amended tax return online Self-employed persons. Can you file an amended tax return online    If you are self-employed in a business that provides services (where products are not a factor), your gross income from that business is the gross receipts. Can you file an amended tax return online If you are self-employed in a business involving manufacturing, merchandising, or mining, your gross income from that business is the total sales minus the cost of goods sold. Can you file an amended tax return online In either case, you must add any income from investments and from incidental or outside operations or sources. Can you file an amended tax return online    You must file Form 1040 if you owe any self-employment tax. Can you file an amended tax return online Filing status. Can you file an amended tax return online    Your filing status generally depends on whether you are single or married. Can you file an amended tax return online Whether you are single or married is determined at the end of your tax year, which is December 31 for most taxpayers. Can you file an amended tax return online Filing status is discussed in detail later in this publication. Can you file an amended tax return online Age. Can you file an amended tax return online    Age is a factor in determining if you must file a return only if you are 65 or older at the end of your tax year. Can you file an amended tax return online For 2013, you are 65 or older if you were born before January 2, 1949. Can you file an amended tax return online Filing Requirements for Most Taxpayers You must file a return if your gross income for the year was at least the amount shown on the appropriate line in Table 1. Can you file an amended tax return online Dependents should see Table 2 instead. Can you file an amended tax return online Deceased Persons You must file an income tax return for a decedent (a person who died) if both of the following are true. Can you file an amended tax return online You are the surviving spouse, executor, administrator, or legal representative. Can you file an amended tax return online The decedent met the filing requirements described in this publication at the time of his or her death. Can you file an amended tax return online For more information, see Final Income Tax Return for Decedent — Form 1040 in Publication 559. Can you file an amended tax return online Table 2. Can you file an amended tax return online 2013 Filing Requirements for Dependents See Exemptions for Dependents to find out if you are a dependent. Can you file an amended tax return online If your parent (or someone else) can claim you as a dependent, use this table to see if you must file a return. Can you file an amended tax return online  In this table, unearned income includes taxable interest, ordinary dividends, and capital gain distributions. Can you file an amended tax return online It also includes unemployment compensation, taxable social security benefits, pensions, annuities, and distributions of unearned income from a trust. Can you file an amended tax return online Earned income includes salaries, wages, tips, professional fees, and taxable scholarship and fellowship grants. Can you file an amended tax return online Gross income is the total of your unearned and earned income. Can you file an amended tax return online If your gross income was $3,900 or more, you usually cannot be claimed as a dependent unless you are a qualifying child. Can you file an amended tax return online For details, see Exemptions for Dependents. Can you file an amended tax return online Single dependents—Were you either age 65 or older or blind? □ No. Can you file an amended tax return online You must file a return if any of the following apply. Can you file an amended tax return online Your unearned income was more than $1,000. Can you file an amended tax return online Your earned income was more than $6,100. Can you file an amended tax return online Your gross income was more than the larger of— $1,000, or Your earned income (up to $5,750) plus $350. Can you file an amended tax return online     □ Yes. Can you file an amended tax return online You must file a return if any of the following apply. Can you file an amended tax return online Your unearned income was more than $2,500 ($4,000 if 65 or older and blind). Can you file an amended tax return online Your earned income was more than $7,600 ($9,100 if 65 or older and blind). Can you file an amended tax return online Your gross income was more than the larger of—  $2,500 ($4,000 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). Can you file an amended tax return online     Married dependents—Were you either age 65 or older or blind? □ No. Can you file an amended tax return online You must file a return if any of the following apply. Can you file an amended tax return online Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Can you file an amended tax return online Your unearned income was more than $1,000. Can you file an amended tax return online Your earned income was more than $6,100. Can you file an amended tax return online Your gross income was more than the larger of— $1,000, or Your earned income (up to $5,750 plus $350. Can you file an amended tax return online     □ Yes. Can you file an amended tax return online You must file a return if any of the following apply. Can you file an amended tax return online Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Can you file an amended tax return online Your unearned income was more than $2,200 ($3,400 if 65 or older and blind). Can you file an amended tax return online Your earned income was more than $7,300 ($8,500 if 65 or older and blind). Can you file an amended tax return online Your gross income was more than the larger of— $2,200 ($3,400 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). Can you file an amended tax return online     U. Can you file an amended tax return online S. Can you file an amended tax return online Citizens or Resident Aliens Living Abroad To determine whether you must file a return, include in your gross income any income you earned or received abroad, including any income you can exclude under the foreign earned income exclusion. Can you file an amended tax return online For more information on special tax rules that may apply to you, see Publication 54, Tax Guide for U. Can you file an amended tax return online S. Can you file an amended tax return online Citizens and Resident Aliens Abroad. Can you file an amended tax return online Residents of Puerto Rico If you are a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen and also a bona fide resident of Puerto Rico, you generally must file a U. Can you file an amended tax return online S. Can you file an amended tax return online income tax return for any year in which you meet the income requirements. Can you file an amended tax return online This is in addition to any legal requirement you may have to file an income tax return with Puerto Rico. Can you file an amended tax return online If you are a bona fide resident of Puerto Rico for the whole year, your U. Can you file an amended tax return online S. Can you file an amended tax return online gross income does not include income from sources within Puerto Rico. Can you file an amended tax return online It does, however, include any income you received for your services as an employee of the United States or any U. Can you file an amended tax return online S. Can you file an amended tax return online agency. Can you file an amended tax return online If you receive income from Puerto Rican sources that is not subject to U. Can you file an amended tax return online S. Can you file an amended tax return online tax, you must reduce your standard deduction, which reduces the amount of income you can have before you must file a U. Can you file an amended tax return online S. Can you file an amended tax return online income tax return. Can you file an amended tax return online For more information, see Publication 570, Tax Guide for Individuals With Income From U. Can you file an amended tax return online S. Can you file an amended tax return online Possessions. Can you file an amended tax return online Individuals With Income From U. Can you file an amended tax return online S. Can you file an amended tax return online Possessions If you had income from Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, or the U. Can you file an amended tax return online S. Can you file an amended tax return online Virgin Islands, special rules may apply when determining whether you must file a U. Can you file an amended tax return online S. Can you file an amended tax return online federal income tax return. Can you file an amended tax return online In addition, you may have to file a return with the individual possession government. Can you file an amended tax return online See Publication 570 for more information. Can you file an amended tax return online Dependents A person who is a dependent may still have to file a return. Can you file an amended tax return online It depends on his or her earned income, unearned income, and gross income. Can you file an amended tax return online For details, see Table 2. Can you file an amended tax return online A dependent must also file if one of the situations described in Table 3 applies. Can you file an amended tax return online Responsibility of parent. Can you file an amended tax return online    If a dependent child must file an income tax return but cannot file due to age or any other reason, a parent, guardian, or other legally responsible person must file it for the child. Can you file an amended tax return online If the child cannot sign the return, the parent or guardian must sign the child's name followed by the words “By (your signature), parent for minor child. Can you file an amended tax return online ” Earned income. Can you file an amended tax return online    Earned income includes salaries, wages, professional fees, and other amounts received as pay for work you actually perform. Can you file an amended tax return online Earned income (only for purposes of filing requirements and the standard deduction) also includes any part of a scholarship that you must include in your gross income. Can you file an amended tax return online See chapter 1 of Publication 970, Tax Benefits for Education, for more information on taxable and nontaxable scholarships. Can you file an amended tax return online Child's earnings. Can you file an amended tax return online    Amounts a child earns by performing services are included in his or her gross income and not the gross income of the parent. Can you file an amended tax return online This is true even if under local law the child's parent has the right to the earnings and may actually have received them. Can you file an amended tax return online But if the child does not pay the tax due on this income, the parent is liable for the tax. Can you file an amended tax return online Unearned income. Can you file an amended tax return online    Unearned income includes income such as interest, dividends, and capital gains. Can you file an amended tax return online Trust distributions of interest, dividends, capital gains, and survivor annuities are also considered unearned income. Can you file an amended tax return online Election to report child's unearned income on parent's return. Can you file an amended tax return online    You may be able to include your child's interest and dividend income on your tax return. Can you file an amended tax return online If you do this, your child will not have to file a return. Can you file an amended tax return online To make this election, all of the following conditions must be met. Can you file an amended tax return online Your child was under age 19 (or under age 24 if a student) at the end of 2013. Can you file an amended tax return online (A child born on January 1, 1995, is considered to be age 19 at the end of 2013; you cannot make the election for this child unless the child was a student. Can you file an amended tax return online Similarly, a child born on January 1, 1990, is considered to be age 24 at the end of 2013; you cannot make the election for this child. Can you file an amended tax return online ) Your child had gross income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). Can you file an amended tax return online The interest and dividend income was less than $10,000. Can you file an amended tax return online Your child is required to file a return for 2013 unless you make this election. Can you file an amended tax return online Your child does not file a joint return for 2013. Can you file an amended tax return online No estimated tax payment was made for 2013 and no 2012 overpayment was applied to 2013 under your child's name and social security number. Can you file an amended tax return online No federal income tax was withheld from your child's income under the backup withholding rules. Can you file an amended tax return online You are the parent whose return must be used when making the election to report your child's unearned income. Can you file an amended tax return online   For more information, see Form 8814 and Parent's Election To Report Child's Interest and Dividends in Publication 929. Can you file an amended tax return online Other Situations You may have to file a tax return even if your gross income is less than the amount shown in Table 1 or Table 2 for your filing status. Can you file an amended tax return online See Table 3 for those other situations when you must file. Can you file an amended tax return online Table 3. Can you file an amended tax return online Other Situations When You Must File a 2013 Return If any of the four conditions listed below applied to you for 2013, you must file a return. Can you file an amended tax return online 1. Can you file an amended tax return online You owe any special taxes, including any of the following. Can you file an amended tax return online   a. Can you file an amended tax return online Alternative minimum tax. Can you file an amended tax return online (See Form 6251. Can you file an amended tax return online )   b. Can you file an amended tax return online Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. Can you file an amended tax return online (See Publication 590, Individual Retirement Arrangements (IRAs), and Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans. Can you file an amended tax return online ) But if you are filing a return only because you owe this tax, you can file Form 5329 by itself. Can you file an amended tax return online   c. Can you file an amended tax return online Social security or Medicare tax on tips you did not report to your employer (see Publication 531, Reporting Tip Income) or on wages you received from an employer who did not withhold these taxes (see Form 8919). Can you file an amended tax return online   d. Can you file an amended tax return online Write-in taxes, including uncollected social security, Medicare, or railroad retirement tax on tips you reported to your employer or on group-term life insurance and additional tax on health savings accounts. Can you file an amended tax return online (See Publication 531, Publication 969, and the Form 1040 instructions for line 60. Can you file an amended tax return online )   e. Can you file an amended tax return online Household employment taxes. Can you file an amended tax return online But if you are filing a return only because you owe these taxes, you can file Schedule H (Form 1040) by itself. Can you file an amended tax return online   f. Can you file an amended tax return online Recapture taxes. Can you file an amended tax return online (See the Form 1040 instructions for lines 44, 59b, and 60. Can you file an amended tax return online ) 2. Can you file an amended tax return online You (or your spouse if filing jointly) received Archer MSA, Medicare Advantage MSA, or health savings account distributions. Can you file an amended tax return online 3. Can you file an amended tax return online You had net earnings from self-employment of at least $400. Can you file an amended tax return online (See Schedule SE (Form 1040) and its instructions. Can you file an amended tax return online ) 4. Can you file an amended tax return online You had wages of $108. Can you file an amended tax return online 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes. Can you file an amended tax return online (See Schedule SE (Form 1040) and its instructions. Can you file an amended tax return online ) Who Should File Even if you do not have to file, you should file a tax return if you can get money back. Can you file an amended tax return online For example, you should file if one of the following applies. Can you file an amended tax return online You had income tax withheld from your pay. Can you file an amended tax return online You made estimated tax payments for the year or had any of your overpayment for last year applied to this year's estimated tax. Can you file an amended tax return online You qualify for the earned income credit. Can you file an amended tax return online See Publication 596, Earned Income Credit (EIC), for more information. Can you file an amended tax return online You qualify for the additional child tax credit. Can you file an amended tax return online See the instructions for the tax form you file (Form 1040 or 1040A) for more information. Can you file an amended tax return online You qualify for the refundable American opportunity education credit. Can you file an amended tax return online See Form 8863, Education Credits. Can you file an amended tax return online You qualify for the health coverage tax credit. Can you file an amended tax return online For information about this credit, see Form 8885, Health Coverage Tax Credit. Can you file an amended tax return online You qualify for the credit for federal tax on fuels. Can you file an amended tax return online See Form 4136, Credit for Federal Tax Paid on Fuels. Can you file an amended tax return online Form 1099-B received. Can you file an amended tax return online    Even if you are not required to file a return, you should consider filing if all of the following apply. Can you file an amended tax return online You received a Form 1099-B, Proceeds From Broker and Barter Exchange Transactions (or substitute statement). Can you file an amended tax return online The amount in box 2a of Form 1099-B (or substitute statement), when added to your other gross income, means you have to file a tax return because of the filing requirement in Table 1 or Table 2 that applies to you. Can you file an amended tax return online Box 3 of Form 1099-B (or substitute statement) is blank. Can you file an amended tax return online In this case, filing a return may keep you from getting a notice from the IRS. Can you file an amended tax return online Filing Status You must determine your filing status before you can determine whether you must file a tax return, your standard deduction (discussed later), and your tax. Can you file an amended tax return online You also use your filing status to determine whether you are eligible to claim certain other deductions and credits. Can you file an amended tax return online There are five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow(er) With Dependent Child. Can you file an amended tax return online If more than one filing status applies to you, choose the one that will give you the lowest tax. Can you file an amended tax return online Marital Status In general, your filing status depends on whether you are considered unmarried or married. Can you file an amended tax return online Unmarried persons. Can you file an amended tax return online    You are considered unmarried for the whole year if, on the last day of your tax year, you are unmarried or legally separated from your spouse under a divorce or separate maintenance decree. Can you file an amended tax return online   State law governs whether you are married or legally separated under a divorce or separate maintenance decree. Can you file an amended tax return online Divorced persons. Can you file an amended tax return online    If you are divorced under a final decree by the last day of the year, you are considered unmarried for the whole year. Can you file an amended tax return online Divorce and remarriage. Can you file an amended tax return online    If you obtain a divorce for the sole purpose of filing tax returns as unmarried individuals, and at the time of divorce you intend to and do, in fact, remarry each other in the next tax year, you and your spouse must file as married individuals in both years. Can you file an amended tax return online Annulled marriages. Can you file an amended tax return online    If you obtain a court decree of annulment, which holds that no valid marriage ever existed, you are considered unmarried even if you filed joint returns for earlier years. Can you file an amended tax return online You must file amended returns (Form 1040X) claiming single or head of household status for all tax years that are affected by the annulment and not closed by the statute of limitations for filing a tax return. Can you file an amended tax return online Generally, for a credit or refund, you must file Form 1040X within 3 years (including extensions) after the date you filed your original return or within 2 years after the date you paid the tax, whichever is later. Can you file an amended tax return online If you filed your original tax return early (for example, March 1), your return is considered filed on the due date (generally April 15). Can you file an amended tax return online However, if you had an extension to file (for example, until October 15) but you filed earlier and we received it on July 1, your return is considered filed on July 1. Can you file an amended tax return online Head of household or qualifying widow(er) with dependent child. Can you file an amended tax return online    If you are considered unmarried, you may be able to file as a head of household or as a qualifying widow(er) with a dependent child. Can you file an amended tax return online See Head of Household and Qualifying Widow(er) With Dependent Child to see if you qualify. Can you file an amended tax return online Married persons. Can you file an amended tax return online    If you are considered married, you and your spouse can file a joint return or separate returns. Can you file an amended tax return online Considered married. Can you file an amended tax return online    You are considered married for the whole year if, on the last day of your tax year, you and your spouse meet any one of the following tests. Can you file an amended tax return online You are married and living together. Can you file an amended tax return online You are living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began. Can you file an amended tax return online You are married and living apart but not legally separated under a decree of divorce or separate maintenance. Can you file an amended tax return online You are separated under an interlocutory (not final) decree of divorce. Can you file an amended tax return online Same-sex marriage. Can you file an amended tax return online    For federal tax purposes, individuals of the same sex are married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. Can you file an amended tax return online The term "spouse" includes an individual married to a person of the same sex if the couple is lawfully married under state (or foreign) law. Can you file an amended tax return online However, individuals who have entered into a registered domestic partnership, civil union, or other similar relationship that is not called a marriage under state (or foreign) law are not married for federal tax purposes. Can you file an amended tax return online   The word “state” as used here includes the District of Columbia, Puerto Rico, and U. Can you file an amended tax return online S. Can you file an amended tax return online territories and possessions. Can you file an amended tax return online It means any domestic jurisdiction that has the legal authority to sanction marriages. Can you file an amended tax return online The term “foreign country” means any foreign jurisdiction that has the legal authority to sanction marriages. Can you file an amended tax return online   If individuals of the same sex are married, they generally must use the married filing jointly or married filing separately filing status. Can you file an amended tax return online However, if they did not live together during the last 6 months of the year, one or both of them may be able to use the head of household filing status, as explained later. Can you file an amended tax return online   For more details, see Answers to Frequently Asked Questions For Individuals of the Same Sex Who Are Married Under State Law on IRS. Can you file an amended tax return online gov. Can you file an amended tax return online Spouse died during the year. Can you file an amended tax return online    If your spouse died during the year, you are considered married for the whole year for filing status purposes. Can you file an amended tax return online   If you did not remarry before the end of the tax year, you can file a joint return for yourself and your deceased spouse. Can you file an amended tax return online For the next 2 years, you may be entitled to the special benefits described later under Qualifying Widow(er) With Dependent Child . Can you file an amended tax return online   If you remarried before the end of the tax year, you can file a joint return with your new spouse. Can you file an amended tax return online Your deceased spouse's filing status is married filing separately for that year. Can you file an amended tax return online Married persons living apart. Can you file an amended tax return online    If you live apart from your spouse and meet certain tests, you may be able to file as head of household even if you are not divorced or legally separated. Can you file an amended tax return online If you qualify to file as head of household instead of as married filing separately, your standard deduction will be higher. Can you file an amended tax return online Also, your tax may be lower, and you may be able to claim the earned income credit. Can you file an amended tax return online See Head of Household , later. Can you file an amended tax return online Single Your filing status is single if you are considered unmarried and you do not qualify for another filing status. Can you file an amended tax return online To determine your marital status, see Marital Status , earlier. Can you file an amended tax return online Widow(er). Can you file an amended tax return online    Your filing status may be single if you were widowed before January 1, 2013, and did not remarry before the end of 2013. Can you file an amended tax return online You may, however, be able to use another filing status that will give you a lower tax. Can you file an amended tax return online See Head of Household and Qualifying Widow(er) With Dependent Child , later, to see if you qualify. Can you file an amended tax return online How to file. Can you file an amended tax return online    You can file Form 1040. Can you file an amended tax return online If you have taxable income of less than $100,000, you may be able to file Form 1040A. Can you file an amended tax return online If, in addition, you have no dependents, are under 65 and not blind, and meet other requirements, you can file Form 1040EZ. Can you file an amended tax return online If you file Form 1040A or Form 1040, show your filing status as single by checking the box on line 1. Can you file an amended tax return online Use the Single column of the Tax Table, or Section A of the Tax Computation Worksheet, to figure your tax. Can you file an amended tax return online Married Filing Jointly You can choose married filing jointly as your filing status if you are considered married and both you and your spouse agree to file a joint return. Can you file an amended tax return online On a joint return, you and your spouse report your combined income and deduct your combined allowable expenses. Can you file an amended tax return online You can file a joint return even if one of you had no income or deductions. Can you file an amended tax return online If you and your spouse decide to file a joint return, your tax may be lower than your combined tax for the other filing statuses. Can you file an amended tax return online Also, your standard deduction (if you do not itemize deductions) may be higher, and you may qualify for tax benefits that do not apply to other filing statuses. Can you file an amended tax return online If you and your spouse each have income, you may want to figure your tax both on a joint return and on separate returns (using the filing status of married filing separately). Can you file an amended tax return online You can choose the method that gives the two of you the lower combined tax. Can you file an amended tax return online How to file. Can you file an amended tax return online    If you file as married filing jointly, you can use Form 1040. Can you file an amended tax return online If you and your spouse have taxable income of less than $100,000, you may be able to file Form 1040A. Can you file an amended tax return online If, in addition, you and your spouse have no dependents, are both under 65 and not blind, and meet other requirements, you can file Form 1040EZ. Can you file an amended tax return online If you file Form 1040 or Form 1040A, show this filing status by checking the box on line 2. Can you file an amended tax return online Use the Married filing jointly column of the Tax Table, or Section B of the Tax Computation Worksheet, to figure your tax. Can you file an amended tax return online Spouse died. Can you file an amended tax return online    If your spouse died during the year, you are considered married for the whole year and can choose married filing jointly as your filing status. Can you file an amended tax return online See Spouse died during the year , under Married persons, earlier. Can you file an amended tax return online   If your spouse died in 2014 before filing a 2013 return, you can choose married filing jointly as your filing status on your 2013 return. Can you file an amended tax return online Divorced persons. Can you file an amended tax return online    If you are divorced under a final decree by the last day of the year, you are considered unmarried for the whole year and you cannot choose married filing jointly as your filing status. Can you file an amended tax return online Filing a Joint Return Both you and your spouse must include all of your income, exemptions, and deductions on your joint return. Can you file an amended tax return online Accounting period. Can you file an amended tax return online    Both of you must use the same accounting period, but you can use different accounting methods. Can you file an amended tax return online Joint responsibility. Can you file an amended tax return online    Both of you may be held responsible, jointly and individually, for the tax and any interest or penalty due on your joint return. Can you file an amended tax return online This means that if one spouse does not pay the tax due, the other may have to. Can you file an amended tax return online Or, if one spouse does not report the correct tax, both spouses may be responsible for any additional taxes assessed by the IRS. Can you file an amended tax return online One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse. Can you file an amended tax return online   You may want to file separately if: You believe your spouse is not reporting all of his or her income, or You do not want to be responsible for any taxes due if your spouse does not have enough tax withheld or does not pay enough estimated tax. Can you file an amended tax return online Divorced taxpayer. Can you file an amended tax return online    You may be held jointly and individually responsible for any tax, interest, and penalties due on a joint return filed before your divorce. Can you file an amended tax return online This responsibility may apply even if your divorce decree states that your former spouse will be responsible for any amounts due on previously filed joint returns. Can you file an amended tax return online Relief from joint responsibility. Can you file an amended tax return online    In some cases, one spouse may be relieved of joint responsibility for tax, interest, and penalties on a joint return for items of the other spouse that were incorrectly reported on the joint return. Can you file an amended tax return online You can ask for relief no matter how small the liability. Can you file an amended tax return online   There are three types of relief available. Can you file an amended tax return online Innocent spouse relief. Can you file an amended tax return online Separation of liability (available only to joint filers who are divorced, widowed, legally separated, or who have not lived together for the 12 months ending on the date the election for this relief is filed). Can you file an amended tax return online Equitable relief. Can you file an amended tax return online    You must file Form 8857, Request for Innocent Spouse Relief, to request relief from joint responsibility. Can you file an amended tax return online Publication 971, Innocent Spouse Relief, explains the kinds of relief and who may qualify for them. Can you file an amended tax return online Signing a joint return. Can you file an amended tax return online    For a return to be considered a joint return, both spouses generally must sign the return. Can you file an amended tax return online Spouse died before signing. Can you file an amended tax return online    If your spouse died before signing the return, the executor or administrator must sign the return for your spouse. Can you file an amended tax return online If neither you nor anyone else has been appointed as executor or administrator, you can sign the return for your spouse and enter “Filing as surviving spouse” in the area where you sign the return. Can you file an amended tax return online Spouse away from home. Can you file an amended tax return online    If your spouse is away from home, you should prepare the return, sign it, and send it to your spouse to sign so it can be filed on time. Can you file an amended tax return online Injury or disease prevents signing. Can you file an amended tax return online    If your spouse cannot sign because of injury or disease and tells you to sign for him or her, you can sign your spouse's name in the proper space on the return followed by the words “By (your name), Husband (or Wife). Can you file an amended tax return online ” Be sure to also sign in the space provided for your signature. Can you file an amended tax return online Attach a dated statement, signed by you, to the return. Can you file an amended tax return online The statement should include the form number of the return you are filing, the tax year, and the reason your spouse cannot sign, and should state that your spouse has agreed to your signing for him or her. Can you file an amended tax return online Signing as guardian of spouse. Can you file an amended tax return online    If you are the guardian of your spouse who is mentally incompetent, you can sign the return for your spouse as guardian. Can you file an amended tax return online Spouse in combat zone. Can you file an amended tax return online    You can sign a joint return for your spouse if your spouse cannot sign because he or she is serving in a combat zone (such as the Persian Gulf area, Serbia, Montenegro, Albania, or Afghanistan), even if you do not have a power of attorney or other statement. Can you file an amended tax return online Attach a signed statement to your return explaining that your spouse is serving in a combat zone. Can you file an amended tax return online For more information on special tax rules for persons who are serving in a combat zone, or who are in missing status as a result of serving in a combat zone, see Publication 3, Armed Forces' Tax Guide. Can you file an amended tax return online Other reasons spouse cannot sign. Can you file an amended tax return online    If your spouse cannot sign the joint return for any other reason, you can sign for your spouse only if you are given a valid power of attorney (a legal document giving you permission to act for your spouse). Can you file an amended tax return online Attach the power of attorney (or a copy of it) to your tax return. Can you file an amended tax return online You can use Form 2848. Can you file an amended tax return online Nonresident alien or dual-status alien. Can you file an amended tax return online    Generally, a married couple cannot file a joint return if either one is a nonresident alien at any time during the tax year. Can you file an amended tax return online However, if one spouse was a nonresident alien or dual-status alien who was married to a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen or resident alien at the end of the year, the spouses can choose to file a joint return. Can you file an amended tax return online If you do file a joint return, you and your spouse are both treated as U. Can you file an amended tax return online S. Can you file an amended tax return online residents for the entire tax year. Can you file an amended tax return online See chapter 1 of Publication 519. Can you file an amended tax return online Married Filing Separately You can choose married filing separately as your filing status if you are married. Can you file an amended tax return online This filing status may benefit you if you want to be responsible only for your own tax or if it results in less tax than filing a joint return. Can you file an amended tax return online If you and your spouse do not agree to file a joint return, you must use this filing status unless you qualify for head of household status, discussed later. Can you file an amended tax return online You may be able to choose head of household filing status if you are considered unmarried because you live apart from your spouse and meet certain tests (explained later, under Head of Household ). Can you file an amended tax return online This can apply to you even if you are not divorced or legally separated. Can you file an amended tax return online If you qualify to file as head of household, instead of as married filing separately, your tax may be lower, you may be able to claim the earned income credit and certain other credits, and your standard deduction will be higher. Can you file an amended tax return online The head of household filing status allows you to choose the standard deduction even if your spouse chooses to itemize deductions. Can you file an amended tax return online See Head of Household , later, for more information. Can you file an amended tax return online You will generally pay more combined tax on separate returns than you would on a joint return for the reasons listed under Special Rules, later. Can you file an amended tax return online However, unless you are required to file separately, you should figure your tax both ways (on a joint return and on separate returns). Can you file an amended tax return online This way you can make sure you are using the filing status that results in the lowest combined tax. Can you file an amended tax return online When figuring the combined tax of a married couple, you may want to consider state taxes as well as federal taxes. Can you file an amended tax return online How to file. Can you file an amended tax return online    If you file a separate return, you generally report only your own income, exemptions, credits, and deductions. Can you file an amended tax return online You can claim an exemption for your spouse only if your spouse had no gross income, is not filing a return, and was not the dependent of another person. Can you file an amended tax return online   You can file Form 1040. Can you file an amended tax return online If your taxable income is less than $100,000, you may be able to file Form 1040A. Can you file an amended tax return online Select this filing status by checking the box on line 3 of either form. Can you file an amended tax return online Enter your spouse's full name and SSN or ITIN in the spaces provided. Can you file an amended tax return online If your spouse does not have and is not required to have an SSN or ITIN, enter “NRA” in the space for your spouse's SSN. Can you file an amended tax return online Use the Married filing separately column of the Tax Table or Section C of the Tax Computation Worksheet to figure your tax. Can you file an amended tax return online Special Rules If you choose married filing separately as your filing status, the following special rules apply. Can you file an amended tax return online Because of these special rules, you usually pay more tax on a separate return than if you use another filing status you qualify for. Can you file an amended tax return online Your tax rate generally is higher than on a joint return. Can you file an amended tax return online Your exemption amount for figuring the alternative minimum tax is half that allowed on a joint return. Can you file an amended tax return online You cannot take the credit for child and dependent care expenses in most cases, and the amount you can exclude from income under an employer's dependent care assistance program is limited to $2,500 (instead of $5,000 on a joint return). Can you file an amended tax return online If you are legally separated or living apart from your spouse, you may be able to file a separate return and still take the credit. Can you file an amended tax return online See Joint Return Test in Publication 503, Child and Dependent Care Expenses, for more information. Can you file an amended tax return online You cannot take the earned income credit. Can you file an amended tax return online You cannot take the exclusion or credit for adoption expenses in most cases. Can you file an amended tax return online You cannot take the education credits (the American opportunity credit and lifetime learning credit), the deduction for student loan interest, or the tuition and fees deduction. Can you file an amended tax return online You cannot exclude any interest income from qualified U. Can you file an amended tax return online S. Can you file an amended tax return online savings bonds you used for higher education expenses. Can you file an amended tax return online If you lived with your spouse at any time during the tax year: You cannot claim the credit for the elderly or the disabled, and You must include in income a greater percentage (up to 85%) of any social security or equivalent railroad retirement benefits you received. Can you file an amended tax return online The following credits and deductions are reduced at income levels half those for a joint return: The child tax credit, The retirement savings contributions credit, The deduction for personal exemptions, and Itemized deductions. Can you file an amended tax return online Your capital loss deduction limit is $1,500 (instead of $3,000 on a joint return). Can you file an amended tax return online If your spouse itemizes deductions, you cannot claim the standard deduction. Can you file an amended tax return online If you can claim the standard deduction, your basic standard deduction is half the amount allowed on a joint return. Can you file an amended tax return online Adjusted gross income (AGI) limits. Can you file an amended tax return online    If your AGI on a separate return is lower than it would have been on a joint return, you may be able to deduct a larger amount for certain deductions that are limited by AGI, such as medical expenses. Can you file an amended tax return online Individual retirement arrangements (IRAs). Can you file an amended tax return online    You may not be able to deduct all or part of your contributions to a traditional IRA if you or your spouse were covered by an employee retirement plan at work during the year. Can you file an amended tax return online Your deduction is reduced or eliminated if your income is more than a certain amount. Can you file an amended tax return online This amount is much lower for married individuals who file separately and lived together at any time during the year. Can you file an amended tax return online For more information, see How Much Can You Deduct? in chapter 1 of Publication 590. Can you file an amended tax return online Rental activity losses. Can you file an amended tax return online    If you actively participated in a passive rental real estate activity that produced a loss, you generally can deduct the loss from your nonpassive income up to $25,000. Can you file an amended tax return online This is called a special allowance. Can you file an amended tax return online However, married persons filing separate returns who lived together at any time during the year cannot claim this special allowance. Can you file an amended tax return online Married persons filing separate returns who lived apart at all times during the year are each allowed a $12,500 maximum special allowance for losses from passive real estate activities. Can you file an amended tax return online See Rental Activities in Publication 925, Passive Activity and At-Risk Rules. Can you file an amended tax return online Community property states. Can you file an amended tax return online    If you live in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin and file separately, your income may be considered separate income or community income for income tax purposes. Can you file an amended tax return online See Publication 555, Community Property. Can you file an amended tax return online Joint Return After Separate Returns You can change your filing status from a separate return to a joint return by filing an amended return using Form 1040X. Can you file an amended tax return online You generally can change to a joint return any time within 3 years from the due date of the separate return or returns. Can you file an amended tax return online This does not include any extensions. Can you file an amended tax return online A separate return includes a return filed by you or your spouse claiming married filing separately, single, or head of household filing status. Can you file an amended tax return online Separate Returns After Joint Return Once you file a joint return, you cannot choose to file separate returns for that year after the due date of the return. Can you file an amended tax return online Exception. Can you file an amended tax return online    A personal representative for a decedent can change from a joint return elected by the surviving spouse to a separate return for the decedent. Can you file an amended tax return online The personal representative has 1 year from the due date (including extensions) of the return to make the change. Can you file an amended tax return online See Publication 559 for more information on filing income tax returns for a decedent. Can you file an amended tax return online Head of Household You may be able to file as head of household if you meet all the following requirements. Can you file an amended tax return online You are unmarried or considered unmarried on the last day of the year. Can you file an amended tax return online See Marital Status , earlier, and Considered Unmarried , later. Can you file an amended tax return online You paid more than half the cost of keeping up a home for the year. Can you file an amended tax return online A qualifying person lived with you in the home for more than half the year (except for temporary absences, such as school). Can you file an amended tax return online However, if the qualifying person is your dependent parent, he or she does not have to live with you. Can you file an amended tax return online See Special rule for parent , later, under Qualifying Person. Can you file an amended tax return online If you qualify to file as head of household, your tax rate usually will be lower than the rates for single or married filing separately. Can you file an amended tax return online You will also receive a higher standard deduction than if you file as single or married filing separately. Can you file an amended tax return online How to file. Can you file an amended tax return online    If you file as head of household, you can use Form 1040. Can you file an amended tax return online If you have taxable income of less than $100,000 and meet certain other conditions, you may be able to file Form 1040A. Can you file an amended tax return online Indicate your choice of this filing status by checking the box on line 4 of either form. Can you file an amended tax return online Use the Head of a household column of the Tax Table or Section D of the Tax Computation Worksheet to figure your tax. Can you file an amended tax return online Considered Unmarried To qualify for head of household status, you must be either unmarried or considered unmarried on the last day of the year. Can you file an amended tax return online You are considered unmarried on the last day of the tax year if you meet all the following tests. Can you file an amended tax return online You file a separate return (defined earlier under Joint Return After Separate Returns ). Can you file an amended tax return online You paid more than half the cost of keeping up your home for the tax year. Can you file an amended tax return online Your spouse did not live in your home during the last 6 months of the tax year. Can you file an amended tax return online Your spouse is considered to live in your home even if he or she is temporarily absent due to special circumstances. Can you file an amended tax return online See Temporary absences , later. Can you file an amended tax return online Your home was the main home of your child, stepchild, or foster child for more than half the year. Can you file an amended tax return online (See Home of qualifying person , later, for rules applying to a child's birth, death, or temporary absence during the year. Can you file an amended tax return online ) You must be able to claim an exemption for the child. Can you file an amended tax return online However, you meet this test if you cannot claim the exemption only because the noncustodial parent can claim the child using the rules described later in Children of divorced or separated parents (or parents who live apart) under Qualifying Child or in Support Test for Children of Divorced or Separated Parents (or Parents Who Live Apart) under Qualifying Relative. Can you file an amended tax return online The general rules for claiming an exemption for a dependent are explained later under Exemptions for Dependents . Can you file an amended tax return online If you were considered married for part of the year and lived in a community property state (listed earlier under Married Filing Separately), special rules may apply in determining your income and expenses. Can you file an amended tax return online See Publication 555 for more information. Can you file an amended tax return online Nonresident alien spouse. Can you file an amended tax return online    You are considered unmarried for head of household purposes if your spouse was a nonresident alien at any time during the year and you do not choose to treat your nonresident spouse as a resident alien. Can you file an amended tax return online However, your spouse is not a qualifying person for head of household purposes. Can you file an amended tax return online You must have another qualifying person and meet the other tests to be eligible to file as a head of household. Can you file an amended tax return online Choice to treat spouse as resident. Can you file an amended tax return online    You are considered married if you choose to treat your spouse as a resident alien. Can you file an amended tax return online See chapter 1 of Publication 519. Can you file an amended tax return online Keeping Up a Home To qualify for head of household status, you must pay more than half of the cost of keeping up a home for the year. Can you file an amended tax return online You can determine whether you paid more than half of the cost of keeping up a home by using Worksheet 1. Can you file an amended tax return online Worksheet 1. Can you file an amended tax return online Cost of Keeping Up a Home         Amount You  Paid Total  Cost Property taxes $ $ Mortgage interest expense     Rent     Utility charges     Repairs/maintenance     Property insurance     Food consumed on the premises     Other household expenses     Totals $ $       Minus total amount you paid   ()       Amount others paid   $       If the total amount you paid is more than the amount others paid, you meet the requirement of paying more than half the cost of keeping up the home. Can you file an amended tax return online Costs you include. Can you file an amended tax return online    Include in the cost of keeping up a home expenses such as rent, mortgage interest, real estate taxes, insurance on the home, repairs, utilities, and food eaten in the home. Can you file an amended tax return online   If you used payments you received under Temporary Assistance for Needy Families (TANF) or other public assistance programs to pay part of the cost of keeping up your home, you cannot count them as money you paid. Can you file an amended tax return online However, you must include them in the total cost of keeping up your home to figure if you paid over half the cost. Can you file an amended tax return online Costs you do not include. Can you file an amended tax return online    Do not include the cost of clothing, education, medical treatment, vacations, life insurance, or transportation. Can you file an amended tax return online Also, do not include the rental value of a home you own or the value of your services or those of a member of your household. Can you file an amended tax return online Qualifying Person See Table 4 to see who is a qualifying person. Can you file an amended tax return online Any person not described in Table 4 is not a qualifying person. Can you file an amended tax return online Example 1—child. Can you file an amended tax return online Your unmarried son lived with you all year and was 18 years old at the end of the year. Can you file an amended tax return online He did not provide more than half of his own support and does not meet the tests to be a qualifying child of anyone else. Can you file an amended tax return online As a result, he is your qualifying child (see Qualifying Child , later) and, because he is single, your qualifying person for head of household purposes. Can you file an amended tax return online Example 2—child who is not qualifying person. Can you file an amended tax return online The facts are the same as in Example 1 except your son was 25 years old at the end of the year and his gross income was $5,000. Can you file an amended tax return online Because he does not meet the age test (explained later under Qualifying Child), your son is not your qualifying child. Can you file an amended tax return online Because he does not meet the gross income test (explained later under Qualifying Relative), he is not your qualifying relative. Can you file an amended tax return online As a result, he is not your qualifying person for head of household purposes. Can you file an amended tax return online Example 3—girlfriend. Can you file an amended tax return online Your girlfriend lived with you all year. Can you file an amended tax return online Even though she may be your qualifying relative if the gross income and support tests (explained later) are met, she is not your qualifying person for head of household purposes because she is not related to you in one of the ways listed under Relatives who do not have to live with you . Can you file an amended tax return online See Table 4. Can you file an amended tax return online Example 4—girlfriend's child. Can you file an amended tax return online The facts are the same as in Example 3 except your girlfriend's 10-year-old son also lived with you all year. Can you file an amended tax return online He is not your qualifying child and, because he is your girlfriend's qualifying child, he is not your qualifying relative (see Not a Qualifying Child Test , later). Can you file an amended tax return online As a result, he is not your qualifying person for head of household purposes. Can you file an amended tax return online Home of qualifying person. Can you file an amended tax return online    Generally, the qualifying person must live with you for more than half of the year. Can you file an amended tax return online Special rule for parent. Can you file an amended tax return online    If your qualifying person is your father or mother, you may be eligible to file as head of household even if your father or mother does not live with you. Can you file an amended tax return online However, you must be able to claim an exemption for your father or mother. Can you file an amended tax return online Also, you must pay more than half the cost of keeping up a home that was the main home for the entire year for your father or mother. Can you file an amended tax return online   You are keeping up a main home for your father or mother if you pay more than half the cost of keeping your parent in a rest home or home for the elderly. Can you file an amended tax return online Death or birth. Can you file an amended tax return online    You may be eligible to file as head of household even if the qualifying person who qualifies you for this filing status is born or dies during the year. Can you file an amended tax return online To qualify you for head of household filing status, the qualifying person (as defined in Table 4) must be one of the following. Can you file an amended tax return online Your qualifying child or qualifying relative who lived with you for more than half the part of the year he or she was alive. Can you file an amended tax return online Your parent for whom you paid, for the entire part of the year he or she was alive, more than half the cost of keeping up the home he or she lived in. Can you file an amended tax return online Example. Can you file an amended tax return online You are unmarried. Can you file an amended tax return online Your mother, for whom you can claim an exemption, lived in an apartment by herself. Can you file an amended tax return online She died on September 2. Can you file an amended tax return online The cost of the upkeep of her apartment for the year until her death was $6,000. Can you file an amended tax return online You paid $4,000 and your brother paid $2,000. Can you file an amended tax return online Your brother made no other payments towards your mother's support. Can you file an amended tax return online Your mother had no income. Can you file an amended tax return online Because you paid more than half of the cost of keeping up your mother's apartment from January 1 until her death, and you can claim an exemption for her, you can file as a head of household. Can you file an amended tax return online Temporary absences. Can you file an amended tax return online    You and your qualifying person are considered to live together even if one or both of you are temporarily absent from your home due to special circumstances such as illness, education, business, vacation, or military service. Can you file an amended tax return online It must be reasonable to assume the absent person will return to the home after the temporary absence. Can you file an amended tax return online You must continue to keep up the home during the absence. Can you file an amended tax return online Kidnapped child. Can you file an amended tax return online    You may be eligible to file as head of household even if the child who is your qualifying person has been kidnapped. Can you file an amended tax return online You can claim head of household filing status if all the following statements are true. Can you file an amended tax return online The child is presumed by law enforcement authorities to have been kidnapped by someone who is not a member of your family or the child's family. Can you file an amended tax return online In the year of the kidnapping, the child lived with you for more than half the part of the year before the kidnapping. Can you file an amended tax return online You would have qualified for head of household filing status if the child had not been kidnapped. Can you file an amended tax return online   This treatment applies for all years until the earliest of: The year the child is returned, The year there is a determination that the child is dead, or The year the child would have reached age 18. Can you file an amended tax return online Qualifying Widow(er) With Dependent Child If your spouse died in 2013, you can use married filing jointly as your filing status for 2013 if you otherwise qualify to use that status. Can you file an amended tax return online The year of death is the last year for which you can file jointly with your deceased spouse. Can you file an amended tax return online See Married Filing Jointly , earlier. Can you file an amended tax return online You may be eligible to use qualifying widow(er) with dependent child as your filing status for 2 years following the year your spouse died. Can you file an amended tax return online For example, if your spouse died in 2012 and you have not remarried, you may be able to use this filing status for 2013 and 2014. Can you file an amended tax return online The rules for using this filing status are explained in detail here. Can you file an amended tax return online This filing status entitles you to use joint return tax rates and the highest standard deduction amount (if you do not itemize deductions). Can you file an amended tax return online It does not entitle you to file a joint return. Can you file an amended tax return online How to file. Can you file an amended tax return online    If you file as a qualifying widow(er) with dependent child, you can use Form 1040. Can you file an amended tax return online If you also have taxable income of less than $100,000 and meet certain other conditions, you may be able to file Form 1040A. Can you file an amended tax return online Check the box on line 5 of either form. Can you file an amended tax return online Use the Married filing jointly column of the Tax Table or Section B of the Tax Computation Worksheet to figure your tax. Can you file an amended tax return online Table 4. Can you file an amended tax return online Who Is a Qualifying Person Qualifying You To File as Head of Household?1 See the text of this publication for the other requirements you must meet to claim head of household filing status. Can you file an amended tax return online IF the person is your . Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online   AND . Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online   THEN that person is . Can you file an amended tax return online . Can you file an amended tax return online . Can you file an amended tax return online qualifying child (such as a son, daughter, or grandchild who lived with you more than half the year and meets certain other tests)2   he or she is single   a qualifying person, whether or not you can claim an exemption for the person. Can you file an amended tax return online   he or she is married and you can claim an exemption for him or her   a qualifying person. Can you file an amended tax return online   he or she is married and you cannot claim an exemption for him or her   not a qualifying person. Can you file an amended tax return online 3 qualifying relative4 who is your father or mother   you can claim an exemption for him or her5   a qualifying person. Can you file an amended tax return online 6   you cannot claim an exemption for him or her   not a qualifying person. Can you file an amended tax return online qualifying relative4 other than your father or mother (such as a grandparent, brother, or sister who meets certain tests). Can you file an amended tax return online   he or she lived with you more than half the year, and he or she is related to you in one of the ways listed under Relatives who do not have to live with you , later, and you can claim an exemption for him or her5   a qualifying person. Can you file an amended tax return online   he or she did not live with you more than half the year   not a qualifying person. Can you file an amended tax return online   he or she is not related to you in one of the ways listed under Relatives who do not have to live with you , later, and is your qualifying relative only because he or she lived with you all year as a member of your household   not a qualifying person. Can you file an amended tax return online   you cannot claim an exemption for him or her   not a qualifying person. Can you file an amended tax return online 1 A person cannot qualify more than one taxpayer to use the head of household filing status for the year. Can you file an amended tax return online 2 The term “qualifying child” is defined under Exemptions for Dependents, later. Can you file an amended tax return online Note: If you are a noncustodial parent, the term “qualifying child” for head of household filing status does not include a child who is your qualifying child for exemption purposes only because of the rules described under Children of divorced or separated parents (or parents who live apart) under Qualifying Child, later. Can you file an amended tax return online If you are the custodial parent and those rules apply, the child generally is your qualifying child for head of household filing status even though the child is not a qualifying child for whom you can claim an exemption. Can you file an amended tax return online 3 This person is a qualifying person if the only reason you cannot claim the exemption is that you can be claimed as a dependent on someone else's return. Can you file an amended tax return online 4 The term “qualifying relative” is defined under Exemptions for Dependents, later. Can you file an amended tax return online 5 If you can claim an exemption for a person only because of a multiple support agreement, that person is not a qualifying person. Can you file an amended tax return online See Multiple Support Agreement . Can you file an amended tax return online 6 See Special rule for parent . Can you file an amended tax return online Eligibility rules. Can you file an amended tax return online    You are eligible to file your 2013 return as a qualifying widow(er) with dependent child if you meet all the following tests. Can you file an amended tax return online You were entitled to file a joint return with your spouse for the year your spouse died. Can you file an amended tax return online It does not matter whether you actually filed a joint return. Can you file an amended tax return online Your spouse died in 2011 or 2012 and you did not remarry before the end of 2013. Can you file an amended tax return online You have a child or stepchild for whom you can claim an exemption. Can you file an amended tax return online This does not include a foster child. Can you file an amended tax return online This child lived in your home all year, except for temporary absences. Can you file an amended tax return online See Temporary absences , earlier, under Head of Household. Can you file an amended tax return online There are also exceptions, described later, for a child who was born or died during the year and for a kidnapped child. Can you file an amended tax return online You paid more than half the cost of keeping up a home for the year. Can you file an amended tax return online See Keeping Up a Home , earlier, under Head of Household. Can you file an amended tax return online Example. Can you file an amended tax return online John's wife died in 2011. Can you file an amended tax return online John has not remarried. Can you file an amended tax return online He has continued during 2012 and 2013 to keep up a home for himself and his child, who lives with him and for whom he can claim an exemption. Can you file an amended tax return online For 2011 he was entitled to file a joint return for himself and his deceased wife. Can you file an amended tax return online For 2012 and 2013, he can file as a qualifying widower with a dependent child. Can you file an amended tax return online After 2013, he can file as head of household if he qualifies. Can you file an amended tax return online Death or birth. Can you file an amended tax return online    You may be eligible to file as a qualifying widow(er) with dependent child if the child who qualifies you for this filing status is born or dies during the year. Can you file an amended tax return online You must have provided more than half of the cost of keeping up a home that was the child's main home during the entire part of the year he or she was alive. Can you file an amended tax return online Kidnapped child. Can you file an amended tax return online    You may be eligible to file as a qualifying widow(er) with dependent child even if the child who qualifies you for this filing status has been kidnapped. Can you file an amended tax return online You can claim qualifying widow(er) with dependent child filing status if all the following statements are true. Can you file an amended tax return online The child is presumed by law enforcement authorities to have been kidnapped by someone who is not a member of your family or the child's family. Can you file an amended tax return online In the year of the kidnapping, the child lived with you for more than half the part of the year before the kidnapping. Can you file an amended tax return online You would have qualified for qualifying widow(er) with dependent child filing status if the child had not been kidnapped. Can you file an amended tax return online As mentioned earlier, this filing status is available for only 2 years following the year your spouse died. Can you file an amended tax return online Exemptions Exemptions reduce your taxable income. Can you file an amended tax return online You can deduct $3,900 for each exemption you claim in 2013. Can you file an amended tax return online If you are entitled to two exemptions for 2013, you can deduct $7,800 ($3,900 × 2). Can you file an amended tax return online But you may lose the benefit of part or all of your exemptions if your adjusted gross income is above a certain amount. Can you file an amended tax return online See Phaseout of Exemptions , later. Can you file an amended tax return online Types of exemptions. Can you file an amended tax return online    There are two types of exemptions you may be able to take: Personal exemptions for yourself and your spouse, and Exemptions for dependents (dependency exemptions). Can you file an amended tax return online While each is worth the same amount ($3,900 for 2013), different rules, discussed later, apply to each type. Can you file an amended tax return online Dependent cannot claim a personal exemption. Can you file an amended tax return online    If you are entitled to claim an exemption for a dependent (such as your child), that dependent cannot claim a personal exemption on his or her own tax return. Can you file an amended tax return online How to claim exemptions. Can you file an amended tax return online    How you claim an exemption on your tax return depends on which form you file. Can you file an amended tax return online Form 1040EZ filers. Can you file an amended tax return online    If you file Form 1040EZ, the exemption amount is combined with the standard deduction and entered on line 5. Can you file an amended tax return online Form 1040A filers. Can you file an amended tax return online    If you file Form 1040A, complete lines 6a through 6d. Can you file an amended tax return online The total number of exemptions you can claim is the total in the box on line 6d. Can you file an amended tax return online Also complete line 26. Can you file an amended tax return online Form 1040 filers. Can you file an amended tax return online    If you file Form 1040, complete lines 6a through 6d. Can you file an amended tax return online The total number of exemptions you can claim is the total in the box on line 6d. Can you file an amended tax return online Also complete line 42. Can you file an amended tax return online If your adjusted gross income is more than $150,000, see Phaseout of Exemptions , later. Can you file an amended tax return online U. Can you file an amended tax return online S. Can you file an amended tax return online citizen or resident alien. Can you file an amended tax return online    If you are a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen, U. Can you file an amended tax return online S. Can you file an amended tax return online resident alien, U. Can you file an amended tax return online S. Can you file an amended tax return online national (defined later) or a resident of Canada or Mexico, you may qualify for any of the exemptions discussed here. Can you file an amended tax return online Nonresident aliens. Can you file an amended tax return online    Generally, if you are a nonresident alien (other than a resident of Canada or Mexico, or certain residents of India or Korea), you can qualify for only one personal exemption for yourself. Can you file an amended tax return online You cannot claim exemptions for a spouse or dependents. Can you file an amended tax return online   These restrictions do not apply if you are a nonresident alien married to a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen or resident alien and have chosen to be treated as a resident of the United States. Can you file an amended tax return online More information. Can you file an amended tax return online    For more information on exemptions if you are a nonresident alien, see chapter 5 in Publication 519. Can you file an amended tax return online Dual-status taxpayers. Can you file an amended tax return online    If you have been both a nonresident alien and a resident alien in the same tax year, you should see Publication 519 for information on determining your exemptions. Can you file an amended tax return online Personal Exemptions You are generally allowed one exemption for yourself. Can you file an amended tax return online If you are married, you may be allowed one exemption for your spouse. Can you file an amended tax return online These are called personal exemptions. Can you file an amended tax return online Your Own Exemption You can take one exemption for yourself unless you can be claimed as a dependent by another taxpayer. Can you file an amended tax return online If another taxpayer is entitled to claim you as a dependent, you cannot take an exemption for yourself even if the other taxpayer does not actually claim you as a dependent. Can you file an amended tax return online Your Spouse's Exemption Your spouse is never considered your dependent. Can you file an amended tax return online Joint return. Can you file an amended tax return online    On a joint return, you can claim one exemption for yourself and one for your spouse. Can you file an amended tax return online Separate return. Can you file an amended tax return online    If you file a separate return, you can claim an exemption for your spouse only if your spouse had no gross income, is not filing a return, and was not the dependent of another taxpayer. Can you file an amended tax return online This is true even if the other taxpayer does not actually claim your spouse as a dependent. Can you file an amended tax return online You can claim an exemption for your spouse even if he or she is a nonresident alien; in that case, your spouse must have no gross income for U. Can you file an amended tax return online S. Can you file an amended tax return online tax purposes and satisfy the other conditions listed above. Can you file an amended tax return online Head of household. Can you file an amended tax return online    If you qualify for head of household filing status because you are considered unmarried, you can claim an exemption for your spouse if the conditions described in the preceding paragraph are satisfied. Can you file an amended tax return online   To claim the exemption for your spouse, check the box on line 6b of Form 1040 or Form 1040A and enter the name of your spouse in the space to the right of the box. Can you file an amended tax return online Enter the SSN or ITIN of your spouse in the space provided at the top of Form 1040 or Form 1040A. Can you file an amended tax return online Death of spouse. Can you file an amended tax return online    If your spouse died during the year and you file a joint return for yourself and your deceased spouse, you generally can claim your spouse's exemption under the rules just explained in Joint return . Can you file an amended tax return online If you file a separate return for the year, you may be able to claim your spouse's exemption under the rules just described in Separate return . Can you file an amended tax return online   If you remarried during the year, you cannot take an exemption for your deceased spouse. Can you file an amended tax return online   If you are a surviving spouse without gross income and you remarry in the year your spouse died, you can be claimed as an exemption on both the final separate return of your deceased spouse and the separate return of your new spouse for that year. Can you file an amended tax return online If you file a joint return with your new spouse, you can be claimed as an exemption only on that return. Can you file an amended tax return online Divorced or separated spouse. Can you file an amended tax return online    If you obtained a final decree of divorce or separate maintenance during the year, you cannot take your former spouse's exemption. Can you file an amended tax return online This rule applies even if you provided all of your former spouse's support. Can you file an amended tax return online Exemptions for Dependents You are allowed one exemption for each person you can claim as a dependent. Can you file an amended tax return online You can claim an exemption for a dependent even if your dependent files a return. Can you file an amended tax return online The term “dependent” means: A qualifying child, or A qualifying relative. Can you file an amended tax return online The terms “ qualifying child ” and “ qualifying relative ” are defined later. Can you file an amended tax return online You can claim an exemption for a qualifying child or qualifying relative only if these three tests are met. Can you file an amended tax return online Dependent taxpayer test. Can you file an amended tax return online Joint return test. Can you file an amended tax return online Citizen or resident test. Can you file an amended tax return online These three tests are explained in detail later. Can you file an amended tax return online All the requirements for claiming an exemption for a dependent are summarized in Table 5. Can you file an amended tax return online Table 5. Can you file an amended tax return online Overview of the Rules for Claiming an Exemption for a Dependent This table is only an overview of the rules. Can you file an amended tax return online For details, see the rest of this publication. Can you file an amended tax return online You cannot claim any dependents if you, or your spouse if filing jointly, could be claimed as a dependent by another taxpayer. Can you file an amended tax return online   You cannot claim a married person who files a joint return as a dependent unless that joint return is filed only to claim a refund of withheld income tax or estimated tax paid. Can you file an amended tax return online   You cannot claim a person as a dependent unless that person is a U. Can you file an amended tax return online S. Can you file an amended tax return online citizen, U. Can you file an amended tax return online S. Can you file an amended tax return online resident alien, U. Can you file an amended tax return online S. Can you file an amended tax return online national, or a resident of Canada or Mexico. Can you file an amended tax return online 1  You cannot claim a person as a dependent unless that person is your qualifying child or qualifying relative. Can you file an amended tax return online   Tests To Be a Qualifying Child Tests To Be a Qualifying Relative The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them. Can you file an amended tax return online   The child must be (a) under age 19 at the end of the year and younger than you (or your spouse if filing jointly), (b) under age 24 at the end of the year, a student, and younger than you (or your spouse if filing jointly), or (c) any age if permanently and totally disabled. Can you file an amended tax return online   The child must have lived with you for more than half of the year. Can you file an amended tax return online 2  The child must not have provided more than half of his or her own support for the year. Can you file an amended tax return online   The child is not filing a joint return for the year (unless that joint return is filed only to claim a refund of withheld income tax or estimated tax paid). Can you file an amended tax return online  If the child meets the rules to be a qualifying child of more than one person, only one person can actually treat the child as a qualifying child. Can you file an amended tax return online See the Special Rule for Qualifying Child of More Than One Person described later to find out which person is the person entitled to claim the child as a qualifying child. Can you file an amended tax return online The person cannot be your qualifying child or the qualifying child of any other taxpayer. Can you file an amended tax return online   The person either (a) must be related to you in one of the ways listed under Relatives who do not have to live with you , or (b) must live with you all year as a member of your household2 (and your relationship must not violate local law). Can you file an amended tax return online   The person's gross income for the year must be less than $3,900. Can you file an amended tax return online 3  You must provide more than half of the person's total support for the year. Can you file an amended tax return online 4  1 There is an exception for certain adopted children. Can you file an amended tax return online 2 There are exceptions for temporary absences, children who were born or died during the year, children of divorced or separated parents (or parents who live apart), and kidnapped children. Can you file an amended tax return online 3 There is an exception if the person is disabled and has income from a sheltered workshop. Can you file an amended tax return online 4 There are exceptions for multiple support agreements, children of divorced or separated parents (or parents who live apart), and kidnapped children. Can you file an amended tax return online Dependent not allowed a personal exemption. Can you file an amended tax return online If you can claim an exemption for your dependent, the dependent cannot claim his or her own personal exemption on his or her own tax return. Can you file an amended tax return online This is true even if you do not claim the dependent's exemption on your return. Can you file an amended tax return online It is also true if the dependent's exemption on your return is reduced or eliminated under the phaseout rule described under Phaseout of Exemptions, later. Can you file an amended tax return online Housekeepers, maids, or servants. Can you file an amended tax return online    If these people work for you, you cannot claim exemptions for them. Can you file an amended tax return online Child tax credit. Can you file an amended tax return online    You may be entitled to a child tax credit for each qualifying child who was under age 17 at the end of the year if you claimed an exemption for that child. Can you file an amended tax return online For more information, see the instructions for the tax form you file (Form 1040 or 1040A). Can you file an amended tax return online Dependent Taxpayer Test If you can be claimed as a dependent by another person, you cannot claim anyone else as a dependent. Can you file an amended tax return online Even if you have a qualifying child or qualifying relative, you cannot claim that person as a dependent. Can you file an amended tax return online If you are filing a joint return and your spouse can be claimed as a dependent by someone else, you and your spouse cannot claim any dependents on your joint return. Can you file an amended tax return online Joint Return Test You generally cannot claim a married person as a dependent if he or she files a joint return. Can you file an amended tax return online Exception. Can you file an amended tax return online    You can claim an exemption for a person who files a joint return if that person and his or her spouse file the joint return only to claim a refund of income tax withheld or estimated tax paid. Can you file an amended tax return online Example 1—child files joint return. Can you file an amended tax return online You supported your 18-year-old daughter, and she lived with you all year while her husband was in the Armed Forces. Can you file an amended tax return online He earned $25,000 for the year. Can you file an amended tax return online The couple files a joint return. Can you file an amended tax return online You cannot take an exemption for your daughter. Can you file an amended tax return online Example 2—child files joint return only as claim for refund of withheld tax. Can you file an amended tax return online Your 18-year-old son and his 17-year-old wife had $800 of wages from part-time jobs and no other income. Can you file an amended tax return online Neither is required to file a tax return. Can you file an amended tax return online They do not have a child. Can you file an amended tax return online Taxes were taken out of their pay so they file a joint return only to get a refund of the withheld taxes. Can you file an amended tax return online The exception to the joint return test applies, so you are not disqualified from claiming an exemption for each of them just because they file a joint return. Can you file an amended tax return online You can claim exemptions for each of them if all the other tests to do so are met. Can you file an amended tax return online Example 3—child files joint return to claim American opportunity credit. Can you file an amended tax return online The facts are the same as in Example 2 except no taxes were taken out of your son's pay. Can you file an amended tax return online He and his wife are not required to file a tax return. Can you file an amended tax return online However, they file a joint return to claim an American opportunity credit of $124 and get a refund of that amount. Can you file an amended tax return online Because claiming the American opportunity credit is their reason for filing the return, they are not filing it only to get a refund of income
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Can you file an amended tax return online Internal Revenue Bulletin:  2013-7  February 11, 2013  Rev. Can you file an amended tax return online Proc. Can you file an amended tax return online 2013-16 Table of Contents SECTION 1. Can you file an amended tax return online PURPOSE SECTION 2. Can you file an amended tax return online BACKGROUND—HAMP AND THE HAMP PRINCIPAL REDUCTION ALTERNATIVE SECTION 3. Can you file an amended tax return online BACKGROUND—APPLICABLE PROVISIONS OF LAW SECTION 4. Can you file an amended tax return online FEDERAL INCOME TAX TREATMENT SECTION 5. Can you file an amended tax return online INFORMATION-REPORTING OBLIGATIONS SECTION 6. Can you file an amended tax return online HAMP-PRA BORROWERS’ REPORTING OF DISCHARGES OF INDEBTEDNESS UNDER HAMP-PRA SECTION 7. Can you file an amended tax return online PENALTY RELIEF FOR 2012 SECTION 8. Can you file an amended tax return online SCOPE AND EFFECTIVE DATE SECTION 9. Can you file an amended tax return online DRAFTING INFORMATION SECTION 1. Can you file an amended tax return online PURPOSE This revenue procedure provides guidance to mortgage loan holders, loan servicers, and borrowers who are participating in the Department of the Treasury’s (Treasury) and Department of Housing and Urban Development’s (HUD) Home Affordable Modification Program® (HAMP®). Can you file an amended tax return online Under HAMP, a borrower may be eligible for principal reduction of the outstanding balance of a qualifying mortgage pursuant to the program’s Principal Reduction AlternativeSM (PRA). Can you file an amended tax return online In appropriate cases, HAMP has been offering the PRA as part of a HAMP loan modification since the last quarter of 2010. Can you file an amended tax return online Current plans call for HAMP to continue accepting new borrowers through the end of 2013. Can you file an amended tax return online The Internal Revenue Service (Service) is providing this guidance to address the tax consequences for borrowers (HAMP-PRA borrowers) who are participating in the PRA and the reporting obligations for participating mortgage loan holders and servicers. Can you file an amended tax return online SECTION 2. Can you file an amended tax return online BACKGROUND—HAMP AND THE HAMP PRINCIPAL REDUCTION ALTERNATIVE . Can you file an amended tax return online 01 To help distressed borrowers lower their monthly mortgage payments, Treasury and HUD established HAMP for mortgage loans that are not owned or guaranteed by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). Can you file an amended tax return online A description of the program can be found at www. Can you file an amended tax return online makinghomeaffordable. Can you file an amended tax return online gov. Can you file an amended tax return online . Can you file an amended tax return online 02 Under HAMP, a participating loan servicer, acting on behalf of the mortgage loan holder, must consider a sequence of modification steps for each eligible borrower’s mortgage loan until the borrower’s monthly payment is reduced to a monthly payment amount determined under the HAMP guidelines. Can you file an amended tax return online These steps include a reduction in the mortgage loan’s interest rate, an extension of the mortgage loan’s term, and a reduction in the mortgage loan’s principal balance. Can you file an amended tax return online . Can you file an amended tax return online 03 In some cases, the unpaid principal balance of the modified mortgage loan is divided into (1) an amount that bears stated interest and that is used to calculate the borrower’s new monthly mortgage payment (the “Non-forbearance Portion”), and (2) a forbearance amount, which does not bear stated interest and on which periodic payments of stated principal are not required. Can you file an amended tax return online The stated principal of the forbearance amount is due upon the earliest of the borrower’s transfer of the property, payoff of the balance on the Non-forbearance Portion of the mortgage loan, or maturity of the mortgage loan. Can you file an amended tax return online However, as noted in section 2. Can you file an amended tax return online 06 of this revenue procedure, a HAMP-PRA borrower sometimes may not have to pay all or a portion of the forbearance amount. Can you file an amended tax return online (The forbearance amount associated with a HAMP-PRA principal reduction is called the “PRA Forbearance Amount. Can you file an amended tax return online ”) . Can you file an amended tax return online 04 If a mortgage loan is being considered for a HAMP modification and the amount owed on the mortgage loan is greater than 115 percent of the value of the property, then the servicer must consider whether principal reduction under PRA should be used as part of the HAMP modification. Can you file an amended tax return online . Can you file an amended tax return online 05 The first step toward a HAMP modification is a trial period plan, in which the borrower’s monthly mortgage payment is set at a monthly payment amount determined under the HAMP guidelines. Can you file an amended tax return online The trial period plan effective date is the due date for the first of the reduced payments that are to be made under the trial period plan. Can you file an amended tax return online (It is the first day of either the first or the second month after the servicer transmits the trial period notice to the borrower. Can you file an amended tax return online ) In general, the trial period is three months, and, during this period, the borrower must satisfy certain conditions before the changes to the terms of the mortgage loan become permanent (the “Trial Period Conditions”). Can you file an amended tax return online Specifically, depending on the borrower’s trial period payment history, the borrower’s compliance with HAMP and servicer guidelines, and his or her satisfaction of all other Trial Period Conditions, the borrower will be offered a permanent modification of the terms of the mortgage loan, including monthly mortgage payments that are lower than those under the old mortgage loan. Can you file an amended tax return online Until the effective date of a permanent modification, the terms of the existing mortgage loan continue to apply. Can you file an amended tax return online . Can you file an amended tax return online 06 After the mortgage loan is permanently modified under HAMP, if the modified mortgage loan is in good standing on the first, second, or third annual anniversary of the trial period plan effective date (the “Three-year Period”), the servicer must reduce the unpaid principal balance of the mortgage loan on the respective anniversary date by one-third of the initial PRA Forbearance Amount. Can you file an amended tax return online (The servicer allocates the entire reduction to the remaining PRA Forbearance Amount. Can you file an amended tax return online ) In general, if a HAMP-PRA borrower’s mortgage loan is in good standing and if the HAMP-PRA borrower pays in full the Non-forbearance Portion of the mortgage loan prior to the reduction of the entire PRA Forbearance Amount, the servicer must reduce the remaining outstanding principal balance of the mortgage loan by the remaining PRA Forbearance Amount. Can you file an amended tax return online . Can you file an amended tax return online 07 In connection with every HAMP loan modification, the HAMP program administrator (acting on behalf of the federal government) provides incentives to the borrower, the servicer, and the investor (that is, the holder of the mortgage loan). Can you file an amended tax return online If a HAMP loan modification includes a PRA principal reduction, the HAMP program administrator makes additional incentive payments to the investor. Can you file an amended tax return online These additional incentives are called “PRA Investor Incentive Payments” and are generally spread over three years. Can you file an amended tax return online The size of the PRA Investor Incentive Payments depends on the amount of principal reduced, the loan-to-value ratio at the time of the HAMP modification, and the loan’s payment history before the modification. Can you file an amended tax return online The PRA Investor Incentive Payments range from 18 to 63 percent of the principal amounts reduced. Can you file an amended tax return online For purposes of this revenue procedure, the excess of the initial PRA Forbearance Amount of a mortgage loan over the aggregate PRA Investor Incentive Payments scheduled to be paid with respect to that loan is called the “PRA Adjusted Forbearance Amount. Can you file an amended tax return online ” . Can you file an amended tax return online 08 A PRA Investor Incentive Payment is earned by the investor on each date on which the servicer reduces the unpaid principal balance of the mortgage loan by a portion of the PRA Forbearance Amount (generally, on the first three annual anniversaries of the trial period plan effective date). Can you file an amended tax return online . Can you file an amended tax return online 09 If a HAMP-PRA borrower’s early payment in full of the Non-forbearance Portion of the mortgage loan accelerates the reduction of the remaining PRA Forbearance Amount (described above in section 2. Can you file an amended tax return online 06 of this revenue procedure), the remaining PRA Investor Incentive Payments from the HAMP program administrator are also accelerated. Can you file an amended tax return online . Can you file an amended tax return online 10 If, prior to completion of the Three-year Period, a mortgage loan ceases to be in good standing because of the HAMP-PRA borrower’s payment history, then the remaining PRA Forbearance Amount is not further reduced and is due when the HAMP-PRA borrower transfers the property, the HAMP-PRA borrower refinances, or otherwise pays off the Non-forbearance Portion of the mortgage loan, or the mortgage loan matures. Can you file an amended tax return online SECTION 3. Can you file an amended tax return online BACKGROUND—APPLICABLE PROVISIONS OF LAW . Can you file an amended tax return online 01 Under § 61 of the Internal Revenue Code, except as otherwise provided in subtitle A, gross income means all income from whatever source derived, including income from discharge of indebtedness. Can you file an amended tax return online See § 61(a)(12). Can you file an amended tax return online . Can you file an amended tax return online 02 Under § 1. Can you file an amended tax return online 1001-3 of the Income Tax Regulations, if a debt instrument undergoes a significant modification, then the modification results in an exchange of the original debt instrument for the modified debt instrument. Can you file an amended tax return online In general, an agreement to change a term of a debt instrument is a modification at the time the borrower and holder enter into the agreement, even if the change in term is not immediately effective. Can you file an amended tax return online However, if the change is conditioned on reasonable closing conditions, a modification occurs on the closing date of the agreement. Can you file an amended tax return online See § 1. Can you file an amended tax return online 1001-3(c)(6). Can you file an amended tax return online . Can you file an amended tax return online 03 Under § 108(e)(10), in the case of a debt-for-debt exchange (including a deemed exchange under § 1. Can you file an amended tax return online 1001-3), the borrower is treated as having satisfied the original debt instrument with an amount of money equal to the issue price of the new debt instrument. Can you file an amended tax return online If the amount of debt satisfied in this manner exceeds that issue price, the borrower realizes discharge of indebtedness income on the exchange. Can you file an amended tax return online See also § 1. Can you file an amended tax return online 61-12(c). Can you file an amended tax return online . Can you file an amended tax return online 04 The issue price of a non-publicly traded debt instrument issued for non-publicly traded property generally reflects the amount of principal that the borrower is required to pay to the holder of the instrument. Can you file an amended tax return online If a borrower has the ability to avoid paying certain amounts (including principal) without violating the terms of the instrument, the payment schedule for the instrument is generally determined based on an assumption that the borrower will avoid any requirement to make those payments. Can you file an amended tax return online See, e. Can you file an amended tax return online g. Can you file an amended tax return online , §§ 1. Can you file an amended tax return online 1272-1(c)(5) and 1. Can you file an amended tax return online 1274-2(d). Can you file an amended tax return online . Can you file an amended tax return online 05 Under § 108(a), gross income does not include any amount that but for § 108(a) would be includible in gross income by reason of the discharge (in whole or in part) of a taxpayer’s indebtedness if (1) the indebtedness discharged is qualified principal residence indebtedness that is discharged before January 1, 2014, or (2) the discharge occurs when the taxpayer is insolvent. Can you file an amended tax return online Section 108(a)(1)(E) and 108(a)(1)(B). Can you file an amended tax return online (Although § 108 contains other exclusions as well, this revenue procedure focuses on these two exclusions because they are the most likely to apply to the greatest number of HAMP-PRA borrowers. Can you file an amended tax return online ) . Can you file an amended tax return online 06 Under §§ 108(h) and 163(h)(3)(B), qualified principal residence indebtedness is any indebtedness that is incurred by a borrower to buy, build, or substantially improve the borrower’s principal residence and is secured by that residence. Can you file an amended tax return online . Can you file an amended tax return online 07 Qualified principal residence indebtedness also includes a loan secured by the borrower’s principal residence that refinances qualified principal residence indebtedness, but only to the extent of the amount of the refinanced indebtedness. Can you file an amended tax return online See §§ 108(h) and 163(h)(3)(B)(i). Can you file an amended tax return online . Can you file an amended tax return online 08 The maximum amount of discharged indebtedness that a borrower may exclude from gross income under the qualified principal residence indebtedness exclusion is $2,000,000 ($1,000,000 for a married individual filing a separate return). Can you file an amended tax return online Under § 108(h)(4), if only part of the discharged indebtedness is qualified principal residence indebtedness, then the exclusion applies only to the amount of the discharged indebtedness that exceeds the amount of the loan (determined immediately before the discharge) that is not qualified principal residence indebtedness. Can you file an amended tax return online . Can you file an amended tax return online 09 Under § 108(a)(3), the insolvency exclusion applies to the lesser of the amount of the debt discharged or the amount by which the taxpayer is insolvent immediately before the discharge. Can you file an amended tax return online . Can you file an amended tax return online 10 Section 108(d)(3) provides that, for purposes of the insolvency exclusion, a taxpayer is insolvent to the extent that the taxpayer’s total liabilities exceed the fair market value of all of the taxpayer’s assets immediately before the discharge of indebtedness. Can you file an amended tax return online Under § 108(a)(2)(C), the qualified principal residence indebtedness exclusion takes precedence over the insolvency exclusion when both exclusions apply to discharged indebtedness, unless the taxpayer elects to apply the insolvency exclusion. Can you file an amended tax return online . Can you file an amended tax return online 11 If an amount is excluded from gross income as a discharge of qualified principal residence indebtedness, the taxpayer must reduce the basis of the taxpayer’s principal residence. Can you file an amended tax return online See § 108(h)(1). Can you file an amended tax return online If a discharged amount is excluded from gross income because the taxpayer was insolvent when the discharge occurred, the taxpayer must reduce certain tax attributes (possibly including basis). Can you file an amended tax return online See § 108(b). Can you file an amended tax return online For further discussion of income from the discharge of indebtedness, the qualified principal residence indebtedness exclusion, the insolvency exclusion, and other exclusions from gross income that may apply, see Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals). Can you file an amended tax return online . Can you file an amended tax return online 12 Taxpayers who exclude any discharged amounts from gross income report both the exclusion and the resulting reduction in basis or other tax attributes on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment). Can you file an amended tax return online See Form 982 instructions and Publication 4681. Can you file an amended tax return online This form is to be filed with the tax return for the taxable year in which the amount is discharged but is excluded from gross income. Can you file an amended tax return online . Can you file an amended tax return online 13 Governmental payments made to or on behalf of individuals or other persons are included within the broad definition of gross income under § 61 unless an exception applies. Can you file an amended tax return online See Notice 2003-18, 2003-1 C. Can you file an amended tax return online B. Can you file an amended tax return online 699, and Rev. Can you file an amended tax return online Rul. Can you file an amended tax return online 79-356, 1979-2 C. Can you file an amended tax return online B. Can you file an amended tax return online 28. Can you file an amended tax return online However, if disbursements are made by a governmental unit to individuals in the interest of the general welfare (that is, are generally based on individual or family need) and the disbursements do not represent compensation for services, then the amounts disbursed are excluded from the income of the recipient (general welfare exclusion). Can you file an amended tax return online See Rev. Can you file an amended tax return online Rul. Can you file an amended tax return online 2005-46, 2005-2 C. Can you file an amended tax return online B. Can you file an amended tax return online 120, and Rev. Can you file an amended tax return online Rul. Can you file an amended tax return online 75-246, 1975-1 C. Can you file an amended tax return online B. Can you file an amended tax return online 24. Can you file an amended tax return online . Can you file an amended tax return online 14 Under § 451 and § 1. Can you file an amended tax return online 451-1(a), a taxpayer that uses the cash receipts and disbursements method of accounting includes income in gross income when the taxpayer actually or constructively receives the income. Can you file an amended tax return online . Can you file an amended tax return online 15 Section 6041 requires every person engaged in a trade or business (including the United States and its agencies) to (1) file an information return (Form 1099-MISC, Miscellaneous Income, is used for this purpose) for each calendar year in which the person makes, in the course of its trade or business, payments to another person of fixed or determinable income aggregating $600 or more, and (2) furnish a copy of the information return to that other person. Can you file an amended tax return online See § 6041(a) and (d) and § 1. Can you file an amended tax return online 6041-1(a)(1) and (b). Can you file an amended tax return online . Can you file an amended tax return online 16 Section 6050P requires applicable entities (including the United States and its agencies, financial entities, and any organization a significant trade or business of which is the lending of money) to (1) file an information return (Form 1099-C, Cancellation of Debt, is used for this purpose) for each calendar year in which it discharges indebtedness of another person of $600 or more, and (2) furnish a copy of the information return to that other person. Can you file an amended tax return online See § 6050P(a)-(c) and §§ 1. Can you file an amended tax return online 6050P-1(a) and 1. Can you file an amended tax return online 6050P-2(a) and (d). Can you file an amended tax return online . Can you file an amended tax return online 17 Section 6721 imposes penalties with respect to information returns required to be filed with the Service. Can you file an amended tax return online These penalties apply in the case of a failure to timely file an information return, a failure to include all required information on the return, or the inclusion of incorrect information on the return. Can you file an amended tax return online Section 6724(d)(1) includes Forms 1099-MISC and 1099-C in the term “information return. Can you file an amended tax return online ” . Can you file an amended tax return online 18 Section 6722 imposes penalties with respect to payee statements required to be furnished to payees. Can you file an amended tax return online These penalties apply in the case of a failure to timely furnish a payee statement, a failure to include all required information on the statement, or the inclusion of incorrect information on the payee statement. Can you file an amended tax return online Section 6724(d)(2) includes in the term “payee statement” copies of Forms 1099-MISC and 1099-C that are required to be furnished to taxpayers. Can you file an amended tax return online SECTION 4. Can you file an amended tax return online FEDERAL INCOME TAX TREATMENT . Can you file an amended tax return online 01 Because a HAMP modification with a PRA principal reduction is a significant modification, it results in a deemed debt-for-debt exchange in which the HAMP-PRA borrower satisfies the old mortgage loan by issuing a new one. Can you file an amended tax return online See § 1. Can you file an amended tax return online 1001-3. Can you file an amended tax return online At the time of the modification, therefore, under § 108 and this revenue procedure, the HAMP-PRA borrower realizes discharge of indebtedness income equal to any excess of the adjusted issue price of the old mortgage loan (which was satisfied in the deemed exchange) over the issue price of the new (post-modification) mortgage loan. Can you file an amended tax return online See also § 61(a)(12) and § 1. Can you file an amended tax return online 61-12(c). Can you file an amended tax return online . Can you file an amended tax return online 02 A HAMP-PRA borrower has the ability to avoid payment of the PRA Adjusted Forbearance Amount. Can you file an amended tax return online Because the HAMP-PRA borrower has this ability, that amount should not be taken into account in determining the issue price of the new mortgage loan. Can you file an amended tax return online Because the issue price of the new mortgage loan does not include the PRA Adjusted Forbearance Amount, the PRA Adjusted Forbearance Amount contributes to the excess of the adjusted issue price of the old mortgage loan (which was satisfied in the deemed exchange) over the issue price of the new mortgage loan. Can you file an amended tax return online . Can you file an amended tax return online 03 On the other hand, the investor has not given up its right to receive the remainder of the PRA Forbearance Amount, because the HAMP program administrator is expected to make those payments on the HAMP-PRA borrower’s behalf by making the PRA Investor Incentive Payments. Can you file an amended tax return online Because the remainder of the PRA Forbearance Amount is payable in this manner, that remainder is included in the issue price of the new mortgage loan. Can you file an amended tax return online . Can you file an amended tax return online 04 The Trial Period Conditions are reasonable closing conditions that must be satisfied before the changes to the terms of the mortgage loan become permanent. Can you file an amended tax return online Therefore, for purposes of § 1. Can you file an amended tax return online 1001-3, the date of the modification is the date of the permanent modification. Can you file an amended tax return online . Can you file an amended tax return online 05 Unless an exclusion applies, the HAMP-PRA borrower includes in gross income the discharge of indebtedness income described in section 4. Can you file an amended tax return online 01 of this revenue procedure for the taxable year in which the permanent modification occurs. Can you file an amended tax return online Under certain conditions, however, section 6 of this revenue procedure permits a borrower to report the discharge of indebtedness under HAMP-PRA over the Three-year Period. Can you file an amended tax return online The qualified principal residence indebtedness exclusion under § 108(a)(1)(E) and the insolvency exclusion under § 108(a)(1)(B) are two exclusions that may apply to the discharge. Can you file an amended tax return online . Can you file an amended tax return online 06 The PRA Investor Incentive Payment is treated as a payment on the mortgage loan by the HAMP program administrator on behalf of the HAMP-PRA borrower. Can you file an amended tax return online . Can you file an amended tax return online 07 To the extent that the HAMP-PRA borrower uses the property as the HAMP-PRA borrower’s principal residence or the property is occupied by the HAMP-PRA borrower’s legal dependent, parent, or grandparent without rent being charged or collected, the HAMP-PRA borrower excludes from his or her gross income under the general welfare exclusion the PRA Investor Incentive Payments that the HAMP program administrator makes to the investor in the mortgage loan. Can you file an amended tax return online This is consistent with Rev. Can you file an amended tax return online Rul. Can you file an amended tax return online 2009-19, 2009-28 I. Can you file an amended tax return online R. Can you file an amended tax return online B. Can you file an amended tax return online 111, which addressed the treatment of Pay-for-Performance Success Payments. Can you file an amended tax return online . Can you file an amended tax return online 08 To the extent that the HAMP-PRA borrower uses the property as a rental property or holds the property vacant and available for rent, the HAMP-PRA borrower includes PRA Investor Incentive Payments in gross income. Can you file an amended tax return online If the HAMP-PRA borrower uses the cash receipts and disbursements method of accounting, then the HAMP-PRA borrower includes a PRA Investor Incentive Payment in gross income in the taxable year in which it is applied as a payment on the HAMP-PRA borrower’s mortgage loan. Can you file an amended tax return online . Can you file an amended tax return online 09 As described in section 2. Can you file an amended tax return online 09 of this revenue procedure, if a HAMP-PRA borrower pays in full the Non-forbearance Portion of the mortgage loan while the loan is in good standing and prior to completion of the Three-year Period, that payment accelerates both the reduction in the remaining PRA Forbearance Amount and the PRA Investor Incentive Payments from the HAMP program administrator. Can you file an amended tax return online To the extent that the HAMP-PRA borrower is described in section 4. Can you file an amended tax return online 07 of this revenue procedure, the HAMP-PRA borrower excludes from his or her gross income under the general welfare exclusion the accelerated PRA Investor Incentive Payments. Can you file an amended tax return online To the extent that the HAMP-PRA borrower is described in section 4. Can you file an amended tax return online 08 of this revenue procedure, the HAMP-PRA borrower includes in income in the year of the acceleration the remaining amount of the PRA Investor Incentive Payment. Can you file an amended tax return online SECTION 5. Can you file an amended tax return online INFORMATION-REPORTING OBLIGATIONS . Can you file an amended tax return online 01 Under § 6050P, the investor is required to file a Form 1099-C with respect to a borrower who realizes discharge of indebtedness of $600 or more. Can you file an amended tax return online A copy of this form is required to be furnished to the borrower. Can you file an amended tax return online . Can you file an amended tax return online 02 As stated in sections 4. Can you file an amended tax return online 01 and 4. Can you file an amended tax return online 04 of this revenue procedure, the HAMP-PRA discharge of indebtedness is realized at the time of the permanent modification of the mortgage loan. Can you file an amended tax return online . Can you file an amended tax return online 03 An investor is an applicable entity that is required under § 1. Can you file an amended tax return online 6050P-1 and this revenue procedure to issue a Form 1099-C for discharge of indebtedness. Can you file an amended tax return online Under § 1. Can you file an amended tax return online 6050P-1(b)(2)(F), the permanent modification of a mortgage loan is an identifiable event. Can you file an amended tax return online Identifiable events determine when Forms 1099-C have to be issued. Can you file an amended tax return online Thus, the Form 1099-C is issued for the calendar year in which the permanent mortgage loan modification occurs. Can you file an amended tax return online This rule under § 1. Can you file an amended tax return online 6050P-1(b)(2)(F) applies even if, under section 6 of this revenue procedure, the HAMP-PRA borrower chooses to treat the HAMP-PRA discharge as being realized at the times when the unpaid principal balance of the new mortgage loan is reduced. Can you file an amended tax return online . Can you file an amended tax return online 04 The investor (or the loan servicer acting on behalf of the investor) reports the full amount of the discharge on the Form 1099-C regardless of whether some or all of the amount is excludible from income under the qualified principal residence indebtedness exclusion, the insolvency exclusion, or any other exclusion that may apply. Can you file an amended tax return online That discharged amount will generally be the PRA Adjusted Forbearance Amount (which does not include the amounts expected to be satisfied by PRA Investor Incentive Payments). Can you file an amended tax return online . Can you file an amended tax return online 05 To the extent that PRA Investor Incentive Payments are made on behalf of a HAMP-PRA borrower who is described in section 4. Can you file an amended tax return online 07 of this revenue procedure, the PRA Investor Incentive Payments are excluded from the gross income of the HAMP-PRA borrower, and thus they are not fixed or determinable income to the HAMP-PRA borrower. Can you file an amended tax return online Under § 6041, these payments are not subject to information reporting. Can you file an amended tax return online See Notice 2011-14, 2011-11 I. Can you file an amended tax return online R. Can you file an amended tax return online B. Can you file an amended tax return online 544, 546. Can you file an amended tax return online . Can you file an amended tax return online 06 To the extent that PRA Investor Incentive Payments are made on behalf of a HAMP-PRA borrower who is described in section 4. Can you file an amended tax return online 08 of this revenue procedure, the PRA Investor Incentive Payments are includible in gross income as fixed or determinable income in the taxable year required by the HAMP-PRA borrower’s method of accounting. Can you file an amended tax return online The payment is subject to the information reporting requirements of § 6041, as described in section 3. Can you file an amended tax return online 15 of this revenue procedure. Can you file an amended tax return online Accordingly, the HAMP program administrator is required to issue a Form 1099-MISC reporting the PRA Investor Incentive Payment. Can you file an amended tax return online SECTION 6. Can you file an amended tax return online HAMP-PRA BORROWERS’ REPORTING OF DISCHARGES OF INDEBTEDNESS UNDER HAMP-PRA . Can you file an amended tax return online 01 In general. Can you file an amended tax return online The HAMP-PRA program began in the last quarter of 2010, and since that time there has been uncertainty about whether the amount of the discharge of indebtedness should be reported in the year of the permanent modification or over the Three-year Period (when the unpaid principal balance on the new mortgage loan is reduced). Can you file an amended tax return online As a result, some HAMP-PRA borrowers have been reporting the discharge of indebtedness under HAMP-PRA over the Three-year Period. Can you file an amended tax return online Given the temporary nature of the program and the issuance of this guidance after participation in the program has begun, in the interests of equitable and sound tax administration, HAMP-PRA borrowers may report discharges of indebtedness under HAMP-PRA under the rules in this section 6. Can you file an amended tax return online A HAMP-PRA borrower may choose to report discharges of indebtedness under HAMP-PRA pursuant to the rules in this section 6 only if the borrower applies the same borrower option under section 6. Can you file an amended tax return online 02 of this revenue procedure consistently to the taxable year of the permanent modification and to all subsequent taxable years. Can you file an amended tax return online Thus, a HAMP-PRA borrower may not choose a borrower option under section 6. Can you file an amended tax return online 02 of this revenue procedure if a statute of limitations has expired for any of the taxable years that are necessary for consistent application of that option. Can you file an amended tax return online . Can you file an amended tax return online 02 HAMP-PRA borrower options. Can you file an amended tax return online A HAMP-PRA borrower may treat the HAMP-PRA discharge as being realized in either of the following ways— (1) One hundred percent of the PRA Adjusted Forbearance Amount at the time of the permanent modification; or (2) One third of the PRA Adjusted Forbearance Amount on each of the first three annual anniversaries of the trial period plan effective date (described in section 2. Can you file an amended tax return online 06 of this revenue procedure), when, as required by the terms of the new mortgage loan, the servicer reduces the unpaid principal balance of the new mortgage loan. Can you file an amended tax return online If some or all of the reduction in the unpaid principal balance is accelerated (as described in section 2. Can you file an amended tax return online 06 of this revenue procedure) because the HAMP-PRA borrower prepays the Non-forbearance Portion of the mortgage loan, then the HAMP-PRA discharge represented by the amount of the reduction that was accelerated is treated as being realized at the time of the accelerated reduction. Can you file an amended tax return online . Can you file an amended tax return online 03 HAMP-PRA borrowers who choose to realize the HAMP-PRA discharge at the time of the permanent modification. Can you file an amended tax return online (1) If a HAMP-PRA borrower chooses to treat the HAMP-PRA discharge as being realized at the time of the permanent modification, then for the taxable year in which the permanent modification occurs, the HAMP-PRA borrower reports on Form 982 the amount, if any, of the discharge that is excluded from gross income and includes in gross income any remaining discharge. Can you file an amended tax return online (2) If a HAMP-PRA borrower’s mortgage loan was permanently modified under HAMP in 2010 or 2011, and if the borrower was reporting the discharge of indebtedness using the method described in section 6. Can you file an amended tax return online 02(2) of this revenue procedure, then the borrower may change to reporting the discharge of indebtedness using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure by filing a 2012 Form 982 with the borrower’s timely filed (with extensions) 2012 income tax return. Can you file an amended tax return online This section 6. Can you file an amended tax return online 03(2) applies only if the change to reporting the discharge using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure does not change the borrower’s federal income tax liability (including any change in federal income tax liability due to a change in basis or tax attributes (under § 108(h)(1) or § 108(b))) for any taxable year prior to the borrower’s 2012 taxable year. Can you file an amended tax return online To make this change, the borrower must— (i) Compute the amount of discharge of indebtedness that would be included in income under § 61(a)(12) or excluded from gross income under § 108, basing the computation of the discharge on the facts as of the year of the permanent modification; and (ii) Report on a 2012 Form 982 the reduction in basis or tax attributes (under § 108(h)(1) or § 108(b)) due to the permanent modification that the borrower would have reported on the Form 982 for the taxable year of the permanent modification, minus any reductions due to the permanent modification that the borrower actually reported on Forms 982 for taxable years prior to 2012. Can you file an amended tax return online (3) Example. Can you file an amended tax return online The following example illustrates the application of section 6. Can you file an amended tax return online 03(2) of this revenue procedure. Can you file an amended tax return online In 2010, B’s basis in B’s principal residence was $330,000. Can you file an amended tax return online In 2010, B’s mortgage loan on the principal residence is permanently modified under HAMP-PRA. Can you file an amended tax return online B realized $30,000 of cancellation of indebtedness from the permanent modification, all of which qualifies for the exclusion from income for qualified principal residence indebtedness under § 108(a)(1)(E). Can you file an amended tax return online The trial period plan effective date also fell in 2010. Can you file an amended tax return online B’s federal income tax return for 2010 was consistent with B’s reporting this discharge of indebtedness using the method described in section 6. Can you file an amended tax return online 02(2) of this revenue procedure. Can you file an amended tax return online That is, B’s 2010 return did not include income from discharge of indebtedness under HAMP-PRA, nor did the return contain a Form 982 reporting exclusion of any such discharge of indebtedness. Can you file an amended tax return online The next year, B reported on line 10(b) of the 2011 Form 982 that B filed with B’s 2011 federal income tax return a $10,000 reduction in basis in the principal residence. Can you file an amended tax return online For 2012, B chooses to change to reporting the discharge of indebtedness using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure. Can you file an amended tax return online Thus, B files a 2012 Form 982 with B’s timely filed (including extensions) 2012 federal income tax return, and on line 10(b) of that form, B reports a $20,000 basis reduction in the principal residence ($30,000 basis reduction that B would have excluded from income in 2010 using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure, minus the $10,000 basis reduction that B reported on B’s 2011 Form 982). Can you file an amended tax return online (4) If a HAMP-PRA borrower reports the entire HAMP-PRA discharge using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure, and if that HAMP-PRA borrower’s mortgage loan ceases to be in good standing during the Three-year Period as described in section 2. Can you file an amended tax return online 10 of this revenue procedure, then some or all of the anticipated reductions in the PRA Adjusted Forbearance Amount will not take place. Can you file an amended tax return online Because the amount of these anticipated reductions was not included in determining the issue price of the new mortgage loan that, pursuant to § 1. Can you file an amended tax return online 1001-3, the HAMP-PRA borrower is deemed to issue in satisfaction of the old mortgage loan, the issue price of the new mortgage loan was understated. Can you file an amended tax return online Under these circumstances, the discharge of indebtedness income determined as of the date of the permanent modification will have been overstated. Can you file an amended tax return online (5) The Service will not challenge a HAMP-PRA borrower who is described in section 6. Can you file an amended tax return online 03(4) of this revenue procedure and who takes the following corrective measures: (i) If a HAMP-PRA borrower included any of the discharge of indebtedness in gross income, the HAMP-PRA borrower may file an amended return that does not include the amount of the discharge of indebtedness that was previously reported as gross income but that, because of the HAMP-PRA borrower’s failure to keep the new mortgage loan in good standing, was not ultimately discharged. Can you file an amended tax return online The amended return should be for the taxable year in which the income was included (that is, the year of the permanent modification), provided the applicable statute of limitations remains open for that taxable year. Can you file an amended tax return online (ii) If the HAMP-PRA borrower did not include any of the discharge of indebtedness in gross income (that is, if the HAMP-PRA borrower excluded all of it), the HAMP-PRA borrower may file a new Form 982 that the Service will treat as superseding the earlier Form 982. Can you file an amended tax return online The new Form 982 will reflect the revised reduction in basis or in tax attributes (under § 108(h)(1) or § 108(b)). Can you file an amended tax return online The new Form 982 should be the Form 982 for the year of the permanent modification and should be filed with the return for the taxable year in which the HAMP-PRA borrower’s mortgage loan ceased to be in good standing. Can you file an amended tax return online . Can you file an amended tax return online 04 HAMP-PRA borrowers who choose to treat the HAMP-PRA discharge as being realized on the dates on which the unpaid principal balance of the mortgage loan is reduced. Can you file an amended tax return online (1) If a HAMP-PRA borrower chooses to realize the HAMP-PRA discharge at the times that the unpaid principal balance on the new mortgage loan is reduced, instead of at the time of the permanent modification, then the HAMP-PRA borrower’s federal income tax returns for the taxable year that contains the permanent modification and for the subsequent taxable years must not treat any of the discharge as being realized at the time of the permanent modification and must treat the entire HAMP-PRA discharge as being realized in the amounts—and at the times—of the reductions in the unpaid principal balance. Can you file an amended tax return online Except as described in the last sentence of this paragraph, therefore, the income tax return for the year of the permanent modification must include no gross income from—nor report on Form 982 an exclusion of—any amount of the HAMP-PRA discharge. Can you file an amended tax return online Instead, the HAMP-PRA discharge is included in gross income (or is reported on Form 982 as excluded from gross income) in the subsequent years in which the unpaid principal balance is reduced. Can you file an amended tax return online If the first such reduction occurs in the year of the permanent modification, however, then the amount of any such reduction is reflected as an inclusion or exclusion on the federal income tax return for that year. Can you file an amended tax return online (2) A HAMP-PRA borrower who has been using the method described in section 6. Can you file an amended tax return online 02(1) of this revenue procedure may change to the method described in section 6. Can you file an amended tax return online 02(2) but must comply with the consistency and open-year requirements described in section 6. Can you file an amended tax return online 01 of this revenue procedure. Can you file an amended tax return online SECTION 7. Can you file an amended tax return online PENALTY RELIEF FOR 2012 . Can you file an amended tax return online 01 The Service will not assert penalties under § 6721 or § 6722 against an investor for failing to timely file and furnish a 2012 Form 1099-C as required by section 5. Can you file an amended tax return online 03 through 5. Can you file an amended tax return online 04 and section 8. Can you file an amended tax return online 02 of this revenue procedure with respect to discharge of indebtedness resulting from HAMP-PRA permanent modifications that take place during calendar year 2012 if the following requirements are satisfied: (1) Not later than February 28, 2013, a statement is sent to the HAMP-PRA borrower containing the following: (a) The HAMP-PRA borrower’s name, address, and taxpayer identification number; and (b) The date and amount of the discharge of indebtedness (as described in sections 4. Can you file an amended tax return online 01 through 4. Can you file an amended tax return online 04 of this revenue procedure) that is required to be reported for 2012. Can you file an amended tax return online (2) Not later than March 28, 2013, a statement is sent to the Service. Can you file an amended tax return online It must be in the form of a single statement that separately lists for each HAMP-PRA borrower the information specified in section 7. Can you file an amended tax return online 01(1) of this revenue procedure. Can you file an amended tax return online The statement should be sent to the Service at the following address: Internal Revenue Service Center Stop 6728AUSC Austin, TX 73301 . Can you file an amended tax return online 02 The Service will not assert penalties under § 6721 or § 6722 with respect to any Forms 1099-MISC for 2012 that sections 5. Can you file an amended tax return online 06 and 8. Can you file an amended tax return online 02 of this revenue procedure require to be filed with the Service and furnished to taxpayers. Can you file an amended tax return online . Can you file an amended tax return online 03 Section 8. Can you file an amended tax return online 03 and 8. Can you file an amended tax return online 04 of this revenue procedure, below, describes penalty relief regarding Forms 1099-C and 1099-MISC for 2010 and 2011. Can you file an amended tax return online SECTION 8. Can you file an amended tax return online SCOPE AND EFFECTIVE DATE . Can you file an amended tax return online 01 This revenue procedure applies to all borrowers, investors, and servicers who participate, or have participated, in the HAMP-PRA, regardless of when the permanent modification occurs. Can you file an amended tax return online . Can you file an amended tax return online 02 Section 5 of this revenue procedure is effective for Forms 1099-C and 1099-MISC due or filed after January 24, 2013. Can you file an amended tax return online . Can you file an amended tax return online 03 Because of the effective date in section 8. Can you file an amended tax return online 02 of this revenue procedure, an investor is not subject to penalties under § 6721 or § 6722 on the grounds that the investor failed to timely file and furnish a 2010 or 2011 Form 1099-C as described in section 5. Can you file an amended tax return online 03 through 5. Can you file an amended tax return online 04 of this revenue procedure (or on the grounds that the investor filed or furnished a 2010 or 2011 Form 1099-C that is inconsistent with section 5. Can you file an amended tax return online 03 through 5. Can you file an amended tax return online 04 of this revenue procedure), provided that the investor demonstrates a good faith attempt to comply with the requirements of § 6050P and that the failure was not due to willful neglect. Can you file an amended tax return online . Can you file an amended tax return online 04 Because of the effective date in section 8. Can you file an amended tax return online 02 of this revenue procedure, the Service will not assert penalties under § 6721 or § 6722 on the grounds of a failure to timely file and furnish a 2010 or 2011 Form 1099-MISC, as described in section 5. Can you file an amended tax return online 06 of this revenue procedure. Can you file an amended tax return online SECTION 9. Can you file an amended tax return online DRAFTING INFORMATION The principal authors of this revenue procedure are Ronald J. Can you file an amended tax return online Goldstein of the Office of Chief Counsel (Procedure and Administration); Shareen S. Can you file an amended tax return online Pflanz and Sheldon A. Can you file an amended tax return online Iskow of the Office of Chief Counsel (Income Tax and Accounting); and Andrea M. Can you file an amended tax return online Hoffenson of the Office of Chief Counsel (Financial Institutions and Products). Can you file an amended tax return online For further information regarding this revenue procedure, contact Procedure and Administration branch 1 at (202) 622-4910, Income Tax and Accounting branch 4 at (202) 622-4920, or Financial Institutions and Products branch 1 at (202) 622-3920 (not toll-free calls). Can you file an amended tax return online Prev  Up  Next   Home   More Internal Revenue Bulletins