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Efile 1040ez

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Efile 1040ez

Efile 1040ez Index , Hardest Hit Fund and Emergency Homeowners' Loan Programs. Efile 1040ez , Form 1098. Efile 1040ez , How To Report, Form 1098. Efile 1040ez A Acquisition debt, Fully deductible interest. Efile 1040ez , Home Acquisition Debt, Part of home not a qualified home. Efile 1040ez Alimony, Divorced or separated individuals. Efile 1040ez Amortization Points, General Rule Appraisal fees, Amounts charged for services. Efile 1040ez Armed forces Housing allowance, Ministers' and military housing allowance. Efile 1040ez Assistance (see Tax help) Average mortgage balance, Average Mortgage Balance B Borrowers More than one, More than one borrower. Efile 1040ez Seller-paid points, treatment by buyer, Treatment by buyer. Efile 1040ez Business Average mortgage balance, total amount of interest otherwise allowable to each activity, Line 13 Mortgage proceeds used for, Mortgage proceeds used for business or investment. Efile 1040ez C Clergy Ministers' and military housing allowance, Ministers' and military housing allowance. Efile 1040ez Cooperative housing, Cooperative apartment owner. Efile 1040ez , Cooperative apartment owner. Efile 1040ez , Special Rule for Tenant-Stockholders in Cooperative Housing Corporations, Form 1098. Efile 1040ez Cost of home or improvements, Cost of home or improvements. Efile 1040ez Credits, Mortgage interest credit. Efile 1040ez D Date of mortgage, Date of the mortgage. Efile 1040ez Debt Choice to treat as not secured by home, Choice to treat the debt as not secured by your home. Efile 1040ez Grandfathered, Fully deductible interest. Efile 1040ez , Grandfathered Debt, Line-of-credit mortgage. Efile 1040ez Home acquisition, Fully deductible interest. Efile 1040ez , Home Acquisition Debt Home equity, Fully deductible interest. Efile 1040ez , Home Equity Debt Home equity only (Table 1), Home equity debt only. Efile 1040ez Not secured by home, Debt not secured by home. Efile 1040ez Secured, Secured Debt Deductions, Part I. Efile 1040ez Home Mortgage Interest, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Efile 1040ez Home office, Office in home. Efile 1040ez Mortgage insurance premiums, Claiming your deductible mortgage insurance premiums. Efile 1040ez Points, General Rule, Claiming your deductible points. Efile 1040ez Deed preparation costs, Amounts charged for services. Efile 1040ez Divorced taxpayers, Divorced or separated individuals. Efile 1040ez , Acquiring an interest in a home because of a divorce. Efile 1040ez E Emergency Homeowners' Loan Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Efile 1040ez Equity debt, Fully deductible interest. Efile 1040ez , Home Equity Debt, Fair market value (FMV). Efile 1040ez Equity debt only (Table 1), Home equity debt only. Efile 1040ez F Fair market value (FMV), Fair market value (FMV). Efile 1040ez Fees Appraisal, Amounts charged for services. Efile 1040ez Notaries, Amounts charged for services. Efile 1040ez Points (see Points) Figures (see Tables and figures) Form 1040, Schedule A, How To Report, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Form 1040, Schedule C or C-EZ, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Form 1040, Schedule E, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Form 1040, Schedule F, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Form 1098, Form 1098, Mortgage Interest Statement Mortgage insurance premiums, Form 1098. Efile 1040ez Form 8396, Mortgage interest credit. Efile 1040ez Free tax services, Free help with your tax return. Efile 1040ez G Grandfathered debt, Fully deductible interest. Efile 1040ez , Grandfathered Debt, Line-of-credit mortgage. Efile 1040ez Ground rents, Redeemable ground rents. Efile 1040ez H Hardest Hit Fund Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Efile 1040ez Help (see Tax help) Home, Publication 936 - Introductory Material Acquisition debt, Fully deductible interest. Efile 1040ez , Home Acquisition Debt Construction, Home under construction. Efile 1040ez Cost of, Cost of home or improvements. Efile 1040ez Destroyed, Home destroyed. Efile 1040ez Divided use, Divided use of your home. Efile 1040ez , Part of home not a qualified home. Efile 1040ez , Part of home not a qualified home. Efile 1040ez Equity debt, Fully deductible interest. Efile 1040ez , Home Equity Debt Equity debt only (Table 1), Home equity debt only. Efile 1040ez Fair market value, Fair market value (FMV). Efile 1040ez Grandfathered debt, Fully deductible interest. Efile 1040ez , Grandfathered Debt, Line-of-credit mortgage. Efile 1040ez Improvement loan, points, Home improvement loan. Efile 1040ez Main, Main home. Efile 1040ez Office in, Office in home. Efile 1040ez Qualified, Qualified Home Renting out part of, Renting out part of home. Efile 1040ez Sale of, Sale of home. Efile 1040ez Second, Second home. Efile 1040ez Time-sharing arrangements, Time-sharing arrangements. Efile 1040ez Housing allowance Ministers and military, Ministers' and military housing allowance. Efile 1040ez I Improvements Cost of, Cost of home or improvements. Efile 1040ez Home acquisition debt, Mortgage treated as used to buy, build, or improve home. Efile 1040ez Points, Home improvement loan. Efile 1040ez Substantial, Substantial improvement. Efile 1040ez Interest, Part I. Efile 1040ez Home Mortgage Interest (see also Mortgage interest) Interest rate method, Interest paid divided by interest rate method. Efile 1040ez Refunded, Refunds of interest. Efile 1040ez , Refunded interest. Efile 1040ez Where to deduct, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Investments Average mortgage balance and total amount of interest allowable, Line 13 Mortgage proceeds used for, Mortgage proceeds invested in tax-exempt securities. Efile 1040ez , Mortgage proceeds used for business or investment. Efile 1040ez J Joint returns, Married taxpayers. Efile 1040ez L Lender mortgage statements, Statements provided by your lender. Efile 1040ez Limits Cooperative housing, mortgage interest deduction, Limits on deduction. Efile 1040ez Deductibility of mortgage insurance premiums, Limit on deduction. Efile 1040ez Deductibility of points, Limits on deduction. Efile 1040ez Home acquisition debt, Home acquisition debt limit. Efile 1040ez Home equity debt, Home equity debt limit. Efile 1040ez Home mortgage interest deduction, Form 1098. Efile 1040ez Qualified loan limit, Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez , Average Mortgage Balance Line-of-credit mortgage, Line-of-credit mortgage. Efile 1040ez Loans, Mortgage proceeds used for business or investment. Efile 1040ez , Mortgage treated as used to buy, build, or improve home. Efile 1040ez (see also Mortgages) Home improvement, points, Home improvement loan. Efile 1040ez Qualified loan limit, Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez M Main home, Main home. Efile 1040ez Married taxpayers, Married taxpayers. Efile 1040ez Military housing allowance, Ministers' and military housing allowance. Efile 1040ez Ministers' housing allowance, Ministers' and military housing allowance. Efile 1040ez Missing children, photographs of, Reminders Mixed-use mortgages, Mixed-use mortgages. Efile 1040ez Mortgage insurance premiums Claiming deductible, Claiming your deductible mortgage insurance premiums. Efile 1040ez Mortgage interest, Publication 936 - Introductory Material, Part I. Efile 1040ez Home Mortgage Interest Cooperative housing, Figuring deductible home mortgage interest. Efile 1040ez Credit, Mortgage interest credit. Efile 1040ez Fully deductible interest, Fully deductible interest. Efile 1040ez Home mortgage interest, Part I. Efile 1040ez Home Mortgage Interest, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Efile 1040ez How to report, How To Report Late payment charges, Late payment charge on mortgage payment. Efile 1040ez Limits on deduction, Part II. Efile 1040ez Limits on Home Mortgage Interest Deduction Ministers' and military housing allowance, Ministers' and military housing allowance. Efile 1040ez Prepaid interest, Prepaid interest. Efile 1040ez , Prepaid interest on Form 1098. Efile 1040ez Prepayment penalty, Mortgage prepayment penalty. Efile 1040ez Refunds, Refunds of interest. Efile 1040ez , Refunded interest. Efile 1040ez Sale of home, Sale of home. Efile 1040ez Special situations, Special Situations Statement, Form 1098, Mortgage Interest Statement Where to deduct, Table 2. Efile 1040ez Where To Deduct Your Interest Expense Worksheet to figure (Table 1), Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez Mortgages Assistance payments (under sec. Efile 1040ez 235 of National Housing Act), Mortgage assistance payments under section 235 of the National Housing Act. Efile 1040ez Average balance, Average Mortgage Balance Date of, Date of the mortgage. Efile 1040ez Ending early, Mortgage ending early. Efile 1040ez Late qualifying, Mortgage that qualifies later. Efile 1040ez Line-of-credit, Line-of-credit mortgage. Efile 1040ez Mixed-use, Mixed-use mortgages. Efile 1040ez Preparation costs for note or deed of trust, Amounts charged for services. Efile 1040ez Proceeds invested in tax-exempt securities, Mortgage proceeds invested in tax-exempt securities. Efile 1040ez Proceeds used for business, Mortgage proceeds used for business or investment. Efile 1040ez Proceeds used for investment, Mortgage proceeds used for business or investment. Efile 1040ez Qualified loan limit, Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez , Average Mortgage Balance Refinanced, Refinancing. Efile 1040ez , Refinanced home acquisition debt. Efile 1040ez , Refinanced grandfathered debt. Efile 1040ez Reverse, Reverse mortgages. Efile 1040ez Statements provided by lender, Statements provided by your lender. Efile 1040ez To buy, build, or improve, Mortgage treated as used to buy, build, or improve home. Efile 1040ez Wraparound, Wraparound mortgage. Efile 1040ez N Nonredeemable ground rents, Nonredeemable ground rents. Efile 1040ez Notary fees, Amounts charged for services. Efile 1040ez O Office in home, Office in home. Efile 1040ez P Penalties Mortgage prepayment, Mortgage prepayment penalty. Efile 1040ez Points, Points, Deduction Allowed in Year Paid, Form 1098. Efile 1040ez Claiming deductible, Claiming your deductible points. Efile 1040ez Exception to general rule, Deduction Allowed in Year Paid Excess, Excess points. Efile 1040ez Funds provided less than, Funds provided are less than points. Efile 1040ez General rule, General Rule Home improvement loans, Home improvement loan. Efile 1040ez Seller paid, Points paid by the seller. Efile 1040ez Prepaid interest, Prepaid interest. Efile 1040ez , Prepaid interest on Form 1098. Efile 1040ez Prepayment penalties, Mortgage prepayment penalty. Efile 1040ez Publications (see Tax help) Q Qualified homes, Qualified Home Qualified loan limit Average mortgage balance, Average Mortgage Balance Worksheet to figure (Table 1), Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez R Redeemable ground rents, Redeemable ground rents. Efile 1040ez Refinancing, Refinancing. Efile 1040ez Grandfathered debt, Refinanced grandfathered debt. Efile 1040ez Home acquisition debt, Refinanced home acquisition debt. Efile 1040ez Refunds, Refunds of interest. Efile 1040ez , Refunded interest. Efile 1040ez Rent Nonredeemable ground rents, Nonredeemable ground rents. Efile 1040ez Redeemable ground rents, Redeemable ground rents. Efile 1040ez Rental payments, Rental payments. Efile 1040ez Renting of home Part of, Renting out part of home. Efile 1040ez Time-sharing arrangements, Rental of time-share. Efile 1040ez Repairs, Substantial improvement. Efile 1040ez Reverse Mortgages, Reverse mortgages. Efile 1040ez S Sale of home, Sale of home. Efile 1040ez Second home, Second home. Efile 1040ez , Deduction Allowed in Year Paid Secured debt, Secured Debt Seller-paid points, Points paid by the seller. Efile 1040ez Separate returns, Separate returns. Efile 1040ez Separated taxpayers, Divorced or separated individuals. Efile 1040ez Spouses, Married taxpayers. Efile 1040ez Statements provided by lender, Statements provided by your lender. Efile 1040ez Stock Cooperative housing, Stock used to secure debt. Efile 1040ez T Tables and figures Deductible home mortgage interest Fully deductible, determination of (Figure A), Fully deductible interest. Efile 1040ez How to figure (Table 1), Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez Mortgage to buy, build, or improve home (Figure C), Mortgage treated as used to buy, build, or improve home. Efile 1040ez Points (Figure B), Points Qualified loan limit worksheet (Table 1), Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez Tax credits, Mortgage interest credit. Efile 1040ez Tax help, How To Get Tax Help Tax-exempt securities Mortgage proceeds invested in, Mortgage proceeds invested in tax-exempt securities. Efile 1040ez Time-sharing arrangements, Time-sharing arrangements. Efile 1040ez V Valuation Fair market value, Fair market value (FMV). Efile 1040ez W Worksheets Deductible home mortgage interest, Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez Qualified loan limit, Table 1. Efile 1040ez Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year See the Table 1 Instructions. Efile 1040ez Wraparound mortgages, Wraparound mortgage. 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The Efile 1040ez

Efile 1040ez Tax Changes for Businesses Table of Contents 2001 ChangesNew 5-Year Carryback Rule for Net Operating Losses (NOLs) Electronic Form 1099 Tax Incentives for New York Liberty Zone Other 2001 Changes 2002 ChangesNonaccrual-Experience Method Issuance of Qualified Zone Academy Bonds Depletion Work Opportunity Credit Expanded in New York Liberty Zone Credit For Pension Plan Startup Costs Welfare-to-Work Credit Extended Work Opportunity Credit Extended Electric and Clean-Fuel Vehicles Renewable Electricity Production Credit Later ChangesSpecial Depreciation Allowance Extension of Placed in Service Date Special Liberty Zone Depreciation Allowance for New and Used Property Depreciation of Property Used on Indian Reservations Indian Employment Credit Extended 2001 Changes New 5-Year Carryback Rule for Net Operating Losses (NOLs) If you have an NOL from a tax year ending during 2001 or 2002, you must generally carry back the entire amount of the NOL to the 5 tax years before the NOL year (the carryback period). Efile 1040ez However, you can still choose to use the previous carryback period. Efile 1040ez You also can choose not to carry back an NOL and only carry it forward. Efile 1040ez Individuals, estates, and trusts can file Form 1045, Application for Tentative Refund. Efile 1040ez Corporations can file Form 1139, Corporation Application for Tentative Refund. Efile 1040ez The instructions for these forms will be revised to reflect the new law. Efile 1040ez Electronic Form 1099 For tax years ending after March 9, 2002, most Forms 1099 can be furnished electronically if the recipient consents, according to IRS regulations, to receive it that way. Efile 1040ez Tax Incentives for New York Liberty Zone New tax benefits are provided for the parts of New York City damaged in the terrorist attacks on September 11, 2001. Efile 1040ez These benefits apply to the newly created New York Liberty Zone, which is the area located on or south of Canal Street, East Broadway (east of its intersection with Canal Street), or Grand Street (east of its intersection with East Broadway), in the Borough of Manhattan. Efile 1040ez Tax benefits for the New York Liberty Zone include the following. Efile 1040ez A special depreciation allowance equal to 30% of the adjusted basis of qualified Liberty Zone property. Efile 1040ez It is allowed for the year the property is placed in service. Efile 1040ez No alternative minimum tax depreciation adjustment for qualified Liberty Zone property. Efile 1040ez Classification of Liberty Zone leasehold improvement property as 5-year property. Efile 1040ez Authorization of the issuance of tax-exempt New York Liberty bonds to finance the acquisition, construction, reconstruction, and renovation of nonresidential real property, residential rental property, and public utility property in the Liberty Zone. Efile 1040ez An increased section 179 deduction for certain Liberty Zone property. Efile 1040ez Extension of the replacement period from 2 years to 5 years for certain property involuntarily converted as a result of the terrorist attacks on September 11, 2001, but only if substantially all of the use of the replacement property is in New York City. Efile 1040ez For more information about involuntary conversions, see Postponement of Gain in Publication 547, Casualties, Disasters, and Thefts. Efile 1040ez In addition, for 2002 and 2003, the work opportunity credit is expanded by creating a new targeted group, consisting generally of employees who work in the Liberty Zone or, in certain cases, in New York City outside the Liberty Zone. Efile 1040ez For more information, see Work Opportunity Credit Expanded in New York Liberty Zone under 2002 Changes, later. Efile 1040ez For more information about the 30% special depreciation allowance, Liberty Zone leasehold improvement property, or increased section 179 deduction, see New York Liberty Zone Benefits, in chapter 5. Efile 1040ez In addition, the tax benefits for the Liberty Zone will be covered in a new edition of Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities, available later in 2002. Efile 1040ez Other 2001 Changes Other changes are discussed in the following chapters. Efile 1040ez Chapter 4 Car Expenses Chapter 5 Depreciation 2002 Changes Nonaccrual-Experience Method Under current law, if you perform services and use an accrual method of accounting, you do not accrue income which, based on experience, you expect to be uncollectible. Efile 1040ez Beginning in 2002, this rule only applies if you perform services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, and consulting, or your average annual gross receipts for the 3 prior tax years does not exceed $5,000,000. Efile 1040ez As under current law, the nonaccrual-experience method will not apply to amounts on which you charge interest or a late payment penalty. Efile 1040ez For more information, see Nonaccrual-Experience Method in chapter 11 of Publication 535, Business Expenses. Efile 1040ez Issuance of Qualified Zone Academy Bonds State and local governments issue qualified zone academy bonds to raise funds for the use of qualified zone academies. Efile 1040ez The amount of bonds that may be issued was limited to $400 million each year for 1998, 1999, 2000, and 2001. Efile 1040ez This provision has been extended to provide for an additional $400 million of bonds to be issued each year for 2002 and 2003. Efile 1040ez For more information about qualified zone academy bonds, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. Efile 1040ez Depletion The suspension of the taxable income limit on percentage depletion from the marginal production of oil and natural gas that was scheduled to expire for tax years beginning after 2001 has been extended to tax years beginning before 2004. Efile 1040ez For more information on marginal production, see section 613A(c) of the Internal Revenue Code. Efile 1040ez Work Opportunity Credit Expanded in New York Liberty Zone The work opportunity credit is expanded to include a new targeted group consisting generally of employees who perform substantially all their services: In the New York Liberty Zone (defined earlier under Tax Incentives for New York Liberty Zone, under 2001 Changes), or Elsewhere in New York City for a business that relocated from the Liberty Zone due to the destruction or damage of its place of business by the September 11, 2001, terrorist attack. Efile 1040ez The credit is available to employers for wages paid to new employees and existing employees for work performed during 2002 or 2003. Efile 1040ez Certain limits apply. Efile 1040ez For more information about the work opportunity credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. Efile 1040ez Credit For Pension Plan Startup Costs The credit for pension plan startup costs is now allowed for plans that become effective after December 31, 2001. Efile 1040ez Previously, the credit was only allowed for plans established after December 31, 2001. Efile 1040ez For more information on the credit, see Important Changes for 2002 in Publication 560, Retirement Plans for Small Business. Efile 1040ez Welfare-to-Work Credit Extended The welfare-to-work credit that was scheduled to expire for wages paid to individuals who began working for you after 2001 has been extended to include wages paid to qualified individuals who begin work for you in 2002 or 2003. Efile 1040ez For more information on the welfare-to-work credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. Efile 1040ez Work Opportunity Credit Extended The work opportunity credit that was scheduled to expire for wages paid to individuals who began working for you after 2001 has been extended to include wages paid to qualified individuals who begin work for you in 2002 or 2003. Efile 1040ez For more information about the work opportunity credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. Efile 1040ez Electric and Clean-Fuel Vehicles The maximum clean-fuel vehicle deduction and qualified electric vehicle credit were scheduled to be 25% lower for 2002 and both were scheduled to be phased out completely by 2005. Efile 1040ez The full deduction and credit are now allowed for qualified property placed in service in 2002 and 2003. Efile 1040ez The phaseout of the deduction and the credit will begin in 2004, and no deduction or credit will be allowed for property placed in service after 2006. Efile 1040ez For more information about electric and clean-fuel vehicles, see chapter 12 in Publication 535, Business Expenses. Efile 1040ez Renewable Electricity Production Credit The renewable electricity production credit is extended to include electricity produced by facilities placed in service after 2001 and before 2004. Efile 1040ez Later Changes Special Depreciation Allowance You can claim the special depreciation allowance (an additional 30% depreciation deduction) for new property that you acquire before September 11, 2004, and place in service for your business generally before January 1, 2005, if you meet the other requirements for qualified property covered in chapter 5. Efile 1040ez Accordingly, you will generally no longer be able to claim the special depreciation allowance for the qualified property if you acquire it after September 10, 2004, or place it in service for your business after December 31, 2004. Efile 1040ez However, you will be able to claim the special Liberty Zone depreciation allowance (an additional 30% depreciation deduction) for most qualified property if you place it in service in the Liberty Zone after December 31, 2004, and generally before January 1, 2007, provided you meet the other requirements for qualified Liberty Zone property covered in chapter 5. Efile 1040ez Extension of Placed in Service Date To qualify for the special depreciation allowance, your property must meet certain tests, including the placed in service date test, as well as the other requirements covered in chapter 5 of this publication. Efile 1040ez To meet the placed in service date test, your property must generally be placed in service for use in your trade or business or for the production of income after September 10, 2001, and before January 1, 2005. Efile 1040ez However, certain property placed in service before January 1, 2006, may meet this test. Efile 1040ez Transportation property and property with a recovery period of 10 years or longer meet the test if one of the following applies. Efile 1040ez The property has an estimated production period of more than 2 years. Efile 1040ez The property has an estimated production period of more than 1 year and it costs more than $1 million. Efile 1040ez Transportation property is any tangible personal property used in the trade or business of transporting persons or property. Efile 1040ez For property that qualifies for the special depreciation allowance solely because of the one-year extension of the placed in service date, only the part of the basis attributable to manufacture, construction, or production before September 11, 2004, is eligible for the special depreciation allowance. Efile 1040ez Special Liberty Zone Depreciation Allowance for New and Used Property You can claim the special Liberty Zone depreciation allowance (an additional 30% depreciation deduction) for used property that you acquire after September 10, 2001, if the property meets the requirements listed under Qualified Liberty Zone Property in chapter 5 of this publication. Efile 1040ez You will be able to claim the allowance for both new and used property that you acquire after September 10, 2004, provided the property meets the other requirements for qualified Liberty Zone property. Efile 1040ez Depreciation of Property Used on Indian Reservations The special depreciation rules that apply to qualified property used on an Indian reservation were scheduled to expire for property placed in service after 2003. Efile 1040ez These special rules have been extended to include property placed in service in 2004. Efile 1040ez For more information about these rules, see Publication 946, How To Depreciate Property. Efile 1040ez Indian Employment Credit Extended The Indian employment credit that was scheduled to expire for tax years beginning after 2003 has been extended to include a tax year beginning in 2004. Efile 1040ez For more information about this credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. Efile 1040ez Prev  Up  Next   Home   More Online Publications