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Efile 2012 Tax Return

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Efile 2012 Tax Return

Efile 2012 tax return 3. Efile 2012 tax return   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. Efile 2012 tax return The allowance applies only for the first year you place the property in service. Efile 2012 tax return For qualified property placed in service in 2013, you can take an additional 50% special allowance. Efile 2012 tax return The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. Efile 2012 tax return This chapter explains what is qualified property. Efile 2012 tax return It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. Efile 2012 tax return Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. Efile 2012 tax return See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. Efile 2012 tax return See chapter 6 for information about getting publications and forms. Efile 2012 tax return What Is Qualified Property? Your property is qualified property if it is one of the following. Efile 2012 tax return Qualified reuse and recycling property. Efile 2012 tax return Qualified cellulosic biofuel plant property. Efile 2012 tax return Qualified disaster assistance property. Efile 2012 tax return Certain qualified property acquired after December 31, 2007. Efile 2012 tax return The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. Efile 2012 tax return Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. Efile 2012 tax return Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). Efile 2012 tax return Qualified reuse and recycling property also includes software necessary to operate such equipment. Efile 2012 tax return The property must meet the following requirements. Efile 2012 tax return The property must be depreciated under MACRS. Efile 2012 tax return The property must have a useful life of at least 5 years. Efile 2012 tax return The original use of the property must begin with you after August 31, 2008. Efile 2012 tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. Efile 2012 tax return The property must be placed in service for use in your trade or business after August 31, 2008. Efile 2012 tax return Excepted Property Qualified reuse and recycling property does not include any of the following. Efile 2012 tax return Any rolling stock or other equipment used to transport reuse or recyclable materials. Efile 2012 tax return Property required to be depreciated using the Alternative Depreciation System (ADS). Efile 2012 tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Efile 2012 tax return Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Efile 2012 tax return Property for which you elected not to claim any special depreciation allowance (discussed later). Efile 2012 tax return Property placed in service and disposed of in the same tax year. Efile 2012 tax return Property converted from business use to personal use in the same tax year acquired. Efile 2012 tax return Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. Efile 2012 tax return Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. Efile 2012 tax return Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. Efile 2012 tax return Examples include bagasse (from sugar cane), corn stalks, and switchgrass. Efile 2012 tax return The property must meet the following requirements. Efile 2012 tax return The property is used in the United States solely to produce cellulosic biofuel. Efile 2012 tax return The original use of the property must begin with you after December 20, 2006. Efile 2012 tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. Efile 2012 tax return The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. Efile 2012 tax return Note. Efile 2012 tax return For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). Efile 2012 tax return The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. Efile 2012 tax return Special Rules Sale-leaseback. Efile 2012 tax return   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Efile 2012 tax return   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. Efile 2012 tax return Syndicated leasing transactions. Efile 2012 tax return   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Efile 2012 tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Efile 2012 tax return Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. Efile 2012 tax return Property placed in service and disposed of in the same tax year. Efile 2012 tax return Property converted from business use to personal use in the same tax year it is acquired. Efile 2012 tax return Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. Efile 2012 tax return Property required to be depreciated using the Alternative Depreciation System (ADS). Efile 2012 tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Efile 2012 tax return Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. Efile 2012 tax return Property for which you elected not to claim any special depreciation allowance (discussed later). Efile 2012 tax return Property for which a deduction was taken under section 179C for certain qualified refinery property. Efile 2012 tax return Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Efile 2012 tax return Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. Efile 2012 tax return A list of the federally declared disaster areas is available at the FEMA website at www. Efile 2012 tax return fema. Efile 2012 tax return gov. Efile 2012 tax return Your property is qualified disaster assistance property if it meets the following requirements. Efile 2012 tax return The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. Efile 2012 tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. Efile 2012 tax return The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. Efile 2012 tax return The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. Efile 2012 tax return The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. Efile 2012 tax return The property is placed in service by you on or before the date which is the last day of the fourth calendar year. Efile 2012 tax return Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. Efile 2012 tax return It is not excepted property (explained later in Excepted Property ). Efile 2012 tax return Special Rules Sale-leaseback. Efile 2012 tax return   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Efile 2012 tax return   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. Efile 2012 tax return Syndicated leasing transactions. Efile 2012 tax return   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Efile 2012 tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Efile 2012 tax return Excepted Property Qualified disaster assistance property does not include any of the following. Efile 2012 tax return Property required to be depreciated using the Alternative Depreciation System (ADS). Efile 2012 tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Efile 2012 tax return Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. Efile 2012 tax return Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. Efile 2012 tax return Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. Efile 2012 tax return Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. Efile 2012 tax return Property for which you elected not to claim any special depreciation allowance (discussed later). Efile 2012 tax return Property placed in service and disposed of in the same tax year. Efile 2012 tax return Property converted from business use to personal use in the same tax year acquired. Efile 2012 tax return Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. Efile 2012 tax return Any gambling or animal racing property (defined later). Efile 2012 tax return Qualified revitalization building. Efile 2012 tax return   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. Efile 2012 tax return If the building is new, the original use of the building must begin with you. Efile 2012 tax return If the building is not new, you must substantially rehabilitate the building and then place it in service. Efile 2012 tax return For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. Efile 2012 tax return Gambling or animal racing property. Efile 2012 tax return   Gambling or animal racing property includes the following personal and real property. Efile 2012 tax return Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. Efile 2012 tax return Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. Efile 2012 tax return Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. Efile 2012 tax return Your property is qualified property if it meets the following requirements. Efile 2012 tax return It is one of the following types of property. Efile 2012 tax return Tangible property depreciated under MACRS with a recovery period of 20 years or less. Efile 2012 tax return Water utility property. Efile 2012 tax return Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. Efile 2012 tax return (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Efile 2012 tax return ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). Efile 2012 tax return You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. Efile 2012 tax return The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). Efile 2012 tax return The original use of the property must begin with you after December 31, 2007. Efile 2012 tax return It is not excepted property (explained later in Excepted property). Efile 2012 tax return Qualified leasehold improvement property. Efile 2012 tax return    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. Efile 2012 tax return The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. Efile 2012 tax return That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Efile 2012 tax return The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. Efile 2012 tax return The improvement is section 1250 property. Efile 2012 tax return See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. Efile 2012 tax return   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Efile 2012 tax return The enlargement of the building. Efile 2012 tax return Any elevator or escalator. Efile 2012 tax return Any structural component benefiting a common area. Efile 2012 tax return The internal structural framework of the building. Efile 2012 tax return   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. Efile 2012 tax return However, a lease between related persons is not treated as a lease. Efile 2012 tax return Related persons. Efile 2012 tax return   For this purpose, the following are related persons. Efile 2012 tax return Members of an affiliated group. Efile 2012 tax return An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. Efile 2012 tax return A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. Efile 2012 tax return Two corporations that are members of the same controlled group. Efile 2012 tax return A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. Efile 2012 tax return The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Efile 2012 tax return The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. Efile 2012 tax return A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. Efile 2012 tax return Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. Efile 2012 tax return A corporation and a partnership if the same persons own both of the following. Efile 2012 tax return 80% or more of the value of the outstanding stock of the corporation. Efile 2012 tax return 80% or more of the capital or profits interest in the partnership. Efile 2012 tax return The executor and beneficiary of any estate. Efile 2012 tax return Long Production Period Property To be qualified property, long production period property must meet the following requirements. Efile 2012 tax return It must meet the requirements in (2)-(5), above. Efile 2012 tax return The property has a recovery period of at least 10 years or is transportation property. Efile 2012 tax return Transportation property is tangible personal property used in the trade or business of transporting persons or property. Efile 2012 tax return The property is subject to section 263A of the Internal Revenue Code. Efile 2012 tax return The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. Efile 2012 tax return Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. Efile 2012 tax return It must meet the requirements in (2)-(5), above. Efile 2012 tax return The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). Efile 2012 tax return The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. Efile 2012 tax return The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. Efile 2012 tax return Special Rules Sale-leaseback. Efile 2012 tax return   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Efile 2012 tax return   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. Efile 2012 tax return Syndicated leasing transactions. Efile 2012 tax return   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Efile 2012 tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. Efile 2012 tax return Excepted Property Qualified property does not include any of the following. Efile 2012 tax return Property placed in service and disposed of in the same tax year. Efile 2012 tax return Property converted from business use to personal use in the same tax year acquired. Efile 2012 tax return Property converted from personal use to business use in the same or later tax year may be qualified property. Efile 2012 tax return Property required to be depreciated under the Alternative Depreciation System (ADS). Efile 2012 tax return This includes listed property used 50% or less in a qualified business use. Efile 2012 tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Efile 2012 tax return Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). Efile 2012 tax return Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). Efile 2012 tax return Property for which you elected not to claim any special depreciation allowance (discussed later). Efile 2012 tax return Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). Efile 2012 tax return Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. Efile 2012 tax return For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. Efile 2012 tax return An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. Efile 2012 tax return If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. Efile 2012 tax return If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. Efile 2012 tax return See Which Depreciation Method Applies in chapter 4 . Efile 2012 tax return Once made, the election cannot be revoked without IRS consent. Efile 2012 tax return Additional guidance. Efile 2012 tax return   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. Efile 2012 tax return Proc. Efile 2012 tax return 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. Efile 2012 tax return irs. Efile 2012 tax return gov/pub/irs-irbs/irb08-44. Efile 2012 tax return pdf, Rev. Efile 2012 tax return Proc. Efile 2012 tax return 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. Efile 2012 tax return irs. Efile 2012 tax return gov/pub/irs-irbs/irb09-06. Efile 2012 tax return pdf, and Rev. Efile 2012 tax return Proc. Efile 2012 tax return 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. Efile 2012 tax return irs. Efile 2012 tax return gov/pub/irs-irbs/irb09-29. Efile 2012 tax return pdf. Efile 2012 tax return Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. Efile 2012 tax return   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. Efile 2012 tax return irs. Efile 2012 tax return gov/irb. Efile 2012 tax return How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. Efile 2012 tax return For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. Efile 2012 tax return For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. Efile 2012 tax return If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. Efile 2012 tax return Depreciable basis. Efile 2012 tax return   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. Efile 2012 tax return   The following are examples of some credits and deductions that reduce depreciable basis. Efile 2012 tax return Any section 179 deduction. Efile 2012 tax return Any deduction for removal of barriers to the disabled and the elderly. Efile 2012 tax return Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. Efile 2012 tax return Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. Efile 2012 tax return   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. Efile 2012 tax return   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . Efile 2012 tax return For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . Efile 2012 tax return Depreciating the remaining cost. Efile 2012 tax return   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . Efile 2012 tax return Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. Efile 2012 tax return Example. Efile 2012 tax return On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. Efile 2012 tax return He did not elect to claim a section 179 deduction. Efile 2012 tax return He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. Efile 2012 tax return He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. Efile 2012 tax return Like-kind exchanges and involuntary conversions. Efile 2012 tax return   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. Efile 2012 tax return After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. Efile 2012 tax return In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. Efile 2012 tax return See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . Efile 2012 tax return The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. Efile 2012 tax return How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. Efile 2012 tax return To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. Efile 2012 tax return When to make election. Efile 2012 tax return   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Efile 2012 tax return   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Efile 2012 tax return Attach the election statement to the amended return. Efile 2012 tax return On the amended return, write “Filed pursuant to section 301. Efile 2012 tax return 9100-2. Efile 2012 tax return ” Revoking an election. Efile 2012 tax return   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Efile 2012 tax return A request to revoke the election is a request for a letter ruling. Efile 2012 tax return If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. Efile 2012 tax return When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. Efile 2012 tax return See When Do You Recapture MACRS Depreciation in chapter 4 or more information. Efile 2012 tax return Recapture of allowance deducted for qualified GO Zone property. Efile 2012 tax return   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Efile 2012 tax return For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. Efile 2012 tax return Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. Efile 2012 tax return   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Efile 2012 tax return Recapture of allowance for qualified Recovery Assistance property. Efile 2012 tax return   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Efile 2012 tax return For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Efile 2012 tax return Recapture of allowance for qualified disaster assistance property. Efile 2012 tax return   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Efile 2012 tax return   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Efile 2012 tax return Prev  Up  Next   Home   More Online Publications
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The Efile 2012 Tax Return

Efile 2012 tax return Publication 1544 - Main Content Table of Contents Why Report These Payments? Who Must File Form 8300?What Payments Must Be Reported? What Is Cash? Taxpayer Identification Number (TIN) What Is a Related Transaction? What About Suspicious Transactions? When, Where, and What To File Examples Penalties How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). Efile 2012 tax return Why Report These Payments? Drug dealers and smugglers often use large cash payments to “launder” money from illegal activities. Efile 2012 tax return Laundering means converting “dirty” or illegally-gained money to “clean” money. Efile 2012 tax return The government can often trace this laundered money through the payments you report. Efile 2012 tax return Laws passed by Congress require you to report these payments. Efile 2012 tax return Your compliance with these laws provides valuable information that can stop those who evade taxes and those who profit from the drug trade and other criminal activities. Efile 2012 tax return The USA PATRIOT Act of 2001 increased the scope of these laws to help trace funds used for terrorism. Efile 2012 tax return Who Must File Form 8300? Generally, any person in a trade or business who receives more than $10,000 in cash in a single transaction or in related transactions must file Form 8300. Efile 2012 tax return For example, you may have to file Form 8300 if you are a dealer in jewelry, furniture, boats, aircraft, or automobiles; a pawnbroker; an attorney; a real estate broker; an insurance company; or a travel agency. Efile 2012 tax return Special rules for clerks of federal or state courts are discussed later under Bail received by court clerks. Efile 2012 tax return However, you do not have to file Form 8300 if the transaction is not related to your trade or business. Efile 2012 tax return For example, if you own a jewelry store and sell your personal automobile for more than $10,000 in cash, you would not submit a Form 8300 for that transaction. Efile 2012 tax return Transaction defined. Efile 2012 tax return    A “transaction” occurs when: Goods, services, or property are sold; Property is rented; Cash is exchanged for other cash; A contribution is made to a trust or escrow account; A loan is made or repaid; or Cash is converted to a negotiable instrument, such as a check or a bond. Efile 2012 tax return Person defined. Efile 2012 tax return   A “person” includes an individual, a company, a corporation, a partnership, an association, a trust, or an estate. Efile 2012 tax return   Exempt organizations, including employee plans, are also “persons. Efile 2012 tax return ” However, exempt organizations do not have to file Form 8300 for a more-than-$10,000 charitable cash contribution they receive since it is not received in the course of a trade or business. Efile 2012 tax return Foreign transactions. Efile 2012 tax return   You do not have to file Form 8300 if the entire transaction (including the receipt of cash) takes place outside of: The 50 states, The District of Columbia, Puerto Rico, or A possession or territory of the United States. Efile 2012 tax return However, you must file Form 8300 if any part of the transaction (including the receipt of cash) occurs in Puerto Rico or a possession or territory of the United States and you are subject to the Internal Revenue Code. Efile 2012 tax return Bail received by court clerks. Efile 2012 tax return   Any clerk of a federal or state court who receives more than $10,000 in cash as bail for an individual charged with any of the following criminal offenses must file Form 8300: Any federal offense involving a controlled substance, Racketeering, Money laundering, and Any state offense substantially similar to (1), (2), or (3) above. Efile 2012 tax return For more information about the rules that apply to court clerks, see Section 1. Efile 2012 tax return 6050I-2 of the Income Tax Regulations. Efile 2012 tax return What Payments Must Be Reported? You must file Form 8300 to report cash paid to you if it is: Over $10,000, Received as: One lump sum of over $10,000, Installment payments that cause the total cash received within 1 year of the initial payment to total more than $10,000, or Other previously unreportable payments that cause the total cash received within a 12-month period to total more than $10,000, Received in the course of your trade or business, Received from the same buyer (or agent), and Received in a single transaction or in related transactions (defined later). Efile 2012 tax return What Is Cash? Cash is: The coins and currency of the United States (and any other country), and A cashier's check, bank draft, traveler's check, or money order you receive, if it has a face amount of $10,000 or less and you receive it in: A designated reporting transaction (defined later), or Any transaction in which you know the payer is trying to avoid the reporting of the transaction on Form 8300. Efile 2012 tax return Cash may include a cashier's check even if it is called a “treasurer's check” or “bank check. Efile 2012 tax return ” Cash does not include a check drawn on an individual's personal account. Efile 2012 tax return A cashier's check, bank draft, traveler's check, or money order with a face amount of more than $10,000 is not treated as cash. Efile 2012 tax return These items are not defined as cash and you do not have to file Form 8300 when you receive them because, if they were bought with currency, the bank or other financial institution that issued them must file a report on FinCEN Form 104. Efile 2012 tax return Example 1. Efile 2012 tax return You are a coin dealer. Efile 2012 tax return Bob Green buys gold coins from you for $13,200. Efile 2012 tax return He pays for them with $6,200 in U. Efile 2012 tax return S. Efile 2012 tax return currency and a cashier's check having a face amount of $7,000. Efile 2012 tax return The cashier's check is treated as cash. Efile 2012 tax return You have received more than $10,000 cash and must file Form 8300 for this transaction. Efile 2012 tax return Example 2. Efile 2012 tax return You are a retail jeweler. Efile 2012 tax return Mary North buys an item of jewelry from you for $12,000. Efile 2012 tax return She pays for it with a personal check payable to you in the amount of $9,600 and traveler's checks totaling $2,400. Efile 2012 tax return Because the personal check is not treated as cash, you have not received more than $10,000 cash in the transaction. Efile 2012 tax return You do not have to file Form 8300. Efile 2012 tax return Example 3. Efile 2012 tax return You are a boat dealer. Efile 2012 tax return Emily Jones buys a boat from you for $16,500. Efile 2012 tax return She pays for it with a cashier's check payable to you in the amount of $16,500. Efile 2012 tax return The cashier's check is not treated as cash because its face amount is more than $10,000. Efile 2012 tax return You do not have to file Form 8300 for this transaction. Efile 2012 tax return Designated Reporting Transaction A designated reporting transaction is the retail sale of any of the following: A consumer durable, such as an automobile or boat. Efile 2012 tax return A consumer durable is property, other than land or buildings, that: Is suitable for personal use, Can reasonably be expected to last at least 1 year under ordinary use, Has a sales price of more than $10,000, and Can be seen or touched (tangible property). Efile 2012 tax return For example, a $20,000 car is a consumer durable, but a $20,000 dump truck or factory machine is not. Efile 2012 tax return The car is a consumer durable even if you sell it to a buyer who will use it in a business. Efile 2012 tax return A collectible (for example, a work of art, rug, antique, metal, gem, stamp, or coin). Efile 2012 tax return Travel or entertainment, if the total sales price of all items sold for the same trip or entertainment event in one transaction (or related transactions) is more than $10,000. Efile 2012 tax return To figure the total sales price of all items sold for a trip or entertainment event, you include the sales price of items such as airfare, hotel rooms, and admission tickets. Efile 2012 tax return Example. Efile 2012 tax return You are a travel agent. Efile 2012 tax return Ed Johnson asks you to charter a passenger airplane to take a group to a sports event in another city. Efile 2012 tax return He also asks you to book hotel rooms and admission tickets for the group. Efile 2012 tax return In payment, he gives you two money orders, each for $6,000. Efile 2012 tax return You have received more than $10,000 cash in this designated reporting transaction. Efile 2012 tax return You must file Form 8300. Efile 2012 tax return Retail sale. Efile 2012 tax return   The term “retail sale” means any sale made in the course of a trade or business that consists mainly of making sales to ultimate consumers. Efile 2012 tax return   Thus, if your business consists mainly of making sales to ultimate consumers, all sales you make in the course of that business are retail sales. Efile 2012 tax return This includes any sales of items that will be resold. Efile 2012 tax return Broker or intermediary. Efile 2012 tax return   A designated reporting transaction includes the retail sale of items (1), (2), or (3) of the preceding list, even if the funds are received by a broker or other intermediary, rather than directly by the seller. Efile 2012 tax return Exceptions to Definition of Cash A cashier's check, bank draft, traveler's check, or money order you received in a designated reporting transaction is not treated as cash if one of the following exceptions applies. Efile 2012 tax return Exception for certain bank loans. Efile 2012 tax return   A cashier's check, bank draft, traveler's check, or money order is not treated as cash if it is the proceeds from a bank loan. Efile 2012 tax return As proof that it is from a bank loan, you may rely on a copy of the loan document, a written statement or lien instruction from the bank, or similar proof. Efile 2012 tax return Example. Efile 2012 tax return You are a car dealer. Efile 2012 tax return Mandy White buys a new car from you for $11,500. Efile 2012 tax return She pays you with $2,000 of U. Efile 2012 tax return S. Efile 2012 tax return currency and a cashier's check for $9,500 payable to you and her. Efile 2012 tax return You can tell that the cashier's check is the proceeds of a bank loan because it includes instructions to you to have a lien put on the car as security for the loan. Efile 2012 tax return For this reason, the cashier's check is not treated as cash. Efile 2012 tax return You do not have to file Form 8300 for the transaction. Efile 2012 tax return Exception for certain installment sales. Efile 2012 tax return   A cashier's check, bank draft, traveler's check, or money order is not treated as cash if it is received in payment on a promissory note or an installment sales contract (including a lease that is considered a sale for federal tax purposes). Efile 2012 tax return However, this exception applies only if: You use similar notes or contracts in other sales to ultimate consumers in the ordinary course of your trade or business, and The total payments for the sale that you receive on or before the 60th day after the sale are 50% or less of the purchase price. Efile 2012 tax return Exception for certain down payment plans. Efile 2012 tax return   A cashier's check, bank draft, traveler's check, or money order is not treated as cash if you received it in payment for a consumer durable or collectible, and all three of the following statements are true. Efile 2012 tax return You receive it under a payment plan requiring: One or more down payments, and Payment of the rest of the purchase price by the date of sale. Efile 2012 tax return You receive it more than 60 days before the date of sale. Efile 2012 tax return You use payment plans with the same or substantially similar terms when selling to ultimate consumers in the ordinary course of your trade or business. Efile 2012 tax return Exception for travel and entertainment. Efile 2012 tax return   A cashier's check, bank draft, traveler's check, or money order received for travel or entertainment is not treated as cash if all three of the following statements are true. Efile 2012 tax return You receive it under a payment plan requiring: One or more down payments, and Payment of the rest of the purchase price by the earliest date that any travel or entertainment item (such as airfare) is furnished for the trip or entertainment event. Efile 2012 tax return You receive it more than 60 days before the date on which the final payment is due. Efile 2012 tax return You use payment plans with the same or substantially similar terms when selling to ultimate consumers in the ordinary course of your trade or business. Efile 2012 tax return Taxpayer Identification Number (TIN) You must furnish the correct TIN of the person or persons from whom you receive the cash. Efile 2012 tax return If the transaction is conducted on the behalf of another person or persons, you must furnish the TIN of that person or persons. Efile 2012 tax return If you do not know a person's TIN, you have to ask for it. Efile 2012 tax return You may be subject to penalties for an incorrect or missing TIN. Efile 2012 tax return There are three types of TINs. Efile 2012 tax return The TIN for an individual, including a sole proprietor, is the individual's social security number (SSN). Efile 2012 tax return The TIN for a nonresident alien individual who needs a TIN but is not eligible to get an SSN is an IRS individual taxpayer identification number (ITIN). Efile 2012 tax return An ITIN has nine digits, similar to an SSN. Efile 2012 tax return The TIN for other persons, including corporations, partnerships, and estates, is the employer identification number (EIN). Efile 2012 tax return Exception. Efile 2012 tax return   You are not required to provide the TIN of a person who is a nonresident alien individual or a foreign organization if that person or foreign organization: Does not have income effectively connected with the conduct of a U. Efile 2012 tax return S. Efile 2012 tax return trade or business; Does not have an office or place of business, or a fiscal or paying agent in the United States; Does not file a federal tax return; Does not furnish a withholding certificate described in §1. Efile 2012 tax return 1441-1(e)(2) or (3) or 1. Efile 2012 tax return 1441-5(c)(2)(iv) or (3)(iii) to the extent required under 1. Efile 2012 tax return 1441-1(e)(4)(vii); Does not have to furnish a TIN on any return, statement, or other document as required by the income tax regulations under section 897 or 1445; or In the case of a nonresident alien individual, the individual has not chosen to file a joint federal income tax return with a spouse who is a U. Efile 2012 tax return S. Efile 2012 tax return citizen or resident. Efile 2012 tax return What Is a Related Transaction? Any transactions between a buyer (or an agent of the buyer) and a seller that occur within a 24-hour period are related transactions. Efile 2012 tax return If you receive over $10,000 in cash during two or more transactions with one buyer in a 24-hour period, you must treat the transactions as one transaction and report the payments on Form 8300. Efile 2012 tax return For example, if you sell two products for $6,000 each to the same customer in 1 day and the customer pays you in cash, these are related transactions. Efile 2012 tax return Because they total $12,000 (more than $10,000), you must file Form 8300. Efile 2012 tax return More than 24 hours between transactions. Efile 2012 tax return   Transactions are related even if they are more than 24 hours apart if you know, or have reason to know, that each is one of a series of connected transactions. Efile 2012 tax return   For example, you are a travel agent. Efile 2012 tax return A client pays you $8,000 in cash for a trip. Efile 2012 tax return Two days later, the same client pays you $3,000 more in cash to include another person on the trip. Efile 2012 tax return These are related transactions, and you must file Form 8300 to report them. Efile 2012 tax return What About Suspicious Transactions? If you receive $10,000 or less in cash, you may voluntarily file Form 8300 if the transaction appears to be suspicious. Efile 2012 tax return A transaction is suspicious if it appears that a person is trying to cause you not to file Form 8300 or is trying to cause you to file a false or incomplete Form 8300, or if there is a sign of possible illegal activity. Efile 2012 tax return If you are suspicious, you are encouraged to call the local IRS Criminal Investigation Division as soon as possible. Efile 2012 tax return Or, you can call the FinCEN Financial Institution Hotline toll free at 1-866-556-3974. Efile 2012 tax return When, Where, and What To File The amount you receive and when you receive it determine when you must file. Efile 2012 tax return Generally, you must file Form 8300 within 15 days after receiving a payment. Efile 2012 tax return If the Form 8300 due date (the 15th or last day you can timely file the form) falls on a Saturday, Sunday, or legal holiday, it is delayed until the next day that is not a Saturday, Sunday, or legal holiday. Efile 2012 tax return More than one payment. Efile 2012 tax return   In some transactions, the buyer may arrange to pay you in cash installment payments. Efile 2012 tax return If the first payment is more than $10,000, you must file Form 8300 within 15 days. Efile 2012 tax return If the first payment is not more than $10,000, you must add the first payment and any later payments made within 1 year of the first payment. Efile 2012 tax return When the total cash payments are more than $10,000, you must file Form 8300 within 15 days. Efile 2012 tax return   After you file Form 8300, you must start a new count of cash payments received from that buyer. Efile 2012 tax return If you receive more than $10,000 in additional cash payments from that buyer within a 12-month period, you must file another Form 8300. Efile 2012 tax return You must file the form within 15 days of the payment that causes the additional payments to total more than $10,000. Efile 2012 tax return   If you are already required to file Form 8300 and you receive additional payments within the 15 days before you must file, you can report all the payments on one form. Efile 2012 tax return Example. Efile 2012 tax return On January 10, you receive a cash payment of $11,000. Efile 2012 tax return You receive additional cash payments on the same transaction of $4,000 on February 15, $5,000 on March 20, and $6,000 on May 12. Efile 2012 tax return By January 25, you must file a Form 8300 for the $11,000 payment. Efile 2012 tax return By May 27, you must file an additional Form 8300 for the additional payments that total $15,000. Efile 2012 tax return Amending a Report?   If you are amending a report, check box 1a at the top of Form 8300. Efile 2012 tax return Complete the form in its entirety (Parts I-IV) and include the amended information. Efile 2012 tax return Do not attach a copy of the original report. Efile 2012 tax return Where to file. Efile 2012 tax return   Mail the form to the address given in the Form 8300 instructions. Efile 2012 tax return Required statement to buyer. Efile 2012 tax return   You must give a written or electronic statement to each person named on any Form 8300 you must file. Efile 2012 tax return You can give the statement electronically only if the recipient agrees to receive it in that format. Efile 2012 tax return The statement must show the name and address of your business, the name and phone number of a contact person, and the total amount of reportable cash you received from the person during the year. Efile 2012 tax return It must state that you are also reporting this information to the IRS. Efile 2012 tax return   You must send this statement to the buyer by January 31 of the year after the year in which you received the cash that caused you to file the form. Efile 2012 tax return    You must keep a copy of every Form 8300 you file for 5 years. Efile 2012 tax return Examples Example 1. Efile 2012 tax return Pat Brown is the sales manager for Small Town Cars. Efile 2012 tax return On January 6, 2009, Jane Smith buys a new car from Pat and pays $18,000 in cash. Efile 2012 tax return Pat asks for identification from Jane to get the necessary information to complete Form 8300. Efile 2012 tax return A filled-in form is shown in this publication. Efile 2012 tax return Pat must mail the form to the address shown in the form's instructions by January 21, 2009. Efile 2012 tax return He must also send a statement to Jane by January 31, 2010. Efile 2012 tax return Example 2. Efile 2012 tax return Using the same facts given in Example 1, suppose Jane had arranged to make cash payments of $6,000 each on January 6, February 6, and March 6. Efile 2012 tax return Pat would have to file a Form 8300 by February 26 (17 days after receiving total cash payments within 1 year over $10,000 because February 21, 2009, is a Saturday). Efile 2012 tax return Pat would not have to report the remaining $6,000 cash payment because it is not more than $10,000. Efile 2012 tax return However, he could report it if he felt it was a suspicious transaction. Efile 2012 tax return Penalties There are civil penalties for failure to: File a correct Form 8300 by the date it is due, and Provide the required statement to those named in the Form 8300. Efile 2012 tax return If you intentionally disregard the requirement to file a correct Form 8300 by the date it is due, the penalty is the greater of: $25,000, or The amount of cash you received and were required to report (up to $100,000). Efile 2012 tax return There are criminal penalties for: Willful failure to file Form 8300, Willfully filing a false or fraudulent Form 8300, Stopping or trying to stop Form 8300 from being filed, and Setting up, helping to set up, or trying to set up a transaction in a way that would make it seem unnecessary to file Form 8300. Efile 2012 tax return If you willfully fail to file Form 8300, you can be fined up to $250,000 for individuals ($500,000 for corporations) or sentenced to up to 5 years in prison, or both. Efile 2012 tax return These dollar amounts are based on Section 3571 of Title 18 of the U. Efile 2012 tax return S. Efile 2012 tax return Code. Efile 2012 tax return The penalties for failure to file may also apply to any person (including a payer) who attempts to interfere with or prevent the seller (or business) from filing a correct Form 8300. Efile 2012 tax return This includes any attempt to structure the transaction in a way that would make it seem unnecessary to file Form 8300. Efile 2012 tax return Structuring means breaking up a large cash transaction into small cash transactions. Efile 2012 tax return How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Efile 2012 tax return By selecting the method that is best for you, you will have quick and easy access to tax help. Efile 2012 tax return Free help with your return. Efile 2012 tax return   Free help in preparing your return is available nationwide from IRS-certified volunteers. Efile 2012 tax return The Volunteer Income Tax Assistance (VITA) program is designed to help low-moderate income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. Efile 2012 tax return Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Efile 2012 tax return To find the nearest VITA or TCE site, visit IRS. Efile 2012 tax return gov or call 1-800-906-9887 or 1-800-829-1040. Efile 2012 tax return   As part of the TCE program, AARP offers the Tax-Aide counseling program. Efile 2012 tax return To find the nearest AARP Tax-Aide site, call 1-888-227-7669 or visit AARP's website at www. Efile 2012 tax return aarp. Efile 2012 tax return org/money/taxaide. Efile 2012 tax return   For more information on these programs, go to IRS. Efile 2012 tax return gov and enter keyword “VITA” in the upper right-hand corner. Efile 2012 tax return Internet. Efile 2012 tax return You can access the IRS website at IRS. Efile 2012 tax return gov 24 hours a day, 7 days a week to: Check the status of your 2011 refund. Efile 2012 tax return Go to IRS. Efile 2012 tax return gov and click on Where's My Refund. Efile 2012 tax return Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Efile 2012 tax return If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Efile 2012 tax return Have your 2011 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Efile 2012 tax return E-file your return. Efile 2012 tax return Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Efile 2012 tax return Download forms, including talking tax forms, instructions, and publications. Efile 2012 tax return Order IRS products online. Efile 2012 tax return Research your tax questions online. Efile 2012 tax return Search publications online by topic or keyword. Efile 2012 tax return Use the online Internal Revenue Code, regulations, or other official guidance. Efile 2012 tax return View Internal Revenue Bulletins (IRBs) published in the last few years. Efile 2012 tax return Figure your withholding allowances using the withholding calculator online at  www. Efile 2012 tax return irs. Efile 2012 tax return gov/individuals. Efile 2012 tax return Determine if Form 6251 must be filed by using our Alternative Minimum Tax (AMT) Assistant available online at  www. Efile 2012 tax return irs. Efile 2012 tax return gov/individuals. Efile 2012 tax return Sign up to receive local and national tax news by email. Efile 2012 tax return Get information on starting and operating a small business. Efile 2012 tax return Phone. Efile 2012 tax return Many services are available by phone. Efile 2012 tax return   Ordering forms, instructions, and publications. Efile 2012 tax return Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, and publications, and prior-year forms and instructions. Efile 2012 tax return You should receive your order within 10 days. Efile 2012 tax return Asking tax questions. Efile 2012 tax return Call the IRS with your tax questions at 1-800-829-1040. Efile 2012 tax return Solving problems. Efile 2012 tax return You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Efile 2012 tax return An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Efile 2012 tax return Call your local Taxpayer Assistance Center for an appointment. Efile 2012 tax return To find the number, go to www. Efile 2012 tax return irs. Efile 2012 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Efile 2012 tax return TTY/TDD equipment. Efile 2012 tax return If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Efile 2012 tax return TeleTax topics. Efile 2012 tax return Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. Efile 2012 tax return Refund information. Efile 2012 tax return You can check the status of your refund on the new IRS phone app. Efile 2012 tax return Download the free IRS2Go app by visiting the iTunes app store or the Android Marketplace. Efile 2012 tax return IRS2Go is a new way to provide you with information and tools. Efile 2012 tax return To check the status of your refund by phone, call 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). Efile 2012 tax return Wait at least 72 hours after the IRS acknowledges receipt of your e-filed return, or 3 to 4 weeks after mailing a paper return. Efile 2012 tax return If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). Efile 2012 tax return Have your 2011 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Efile 2012 tax return If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. Efile 2012 tax return Other refund information. Efile 2012 tax return To check the status of a prior-year refund or amended return refund, call 1-800-829-1040. Efile 2012 tax return Evaluating the quality of our telephone services. Efile 2012 tax return To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Efile 2012 tax return One method is for a second IRS representative to listen in on or record random telephone calls. Efile 2012 tax return Another is to ask some callers to complete a short survey at the end of the call. Efile 2012 tax return Walk-in. Efile 2012 tax return Many products and services are available on a walk-in basis. Efile 2012 tax return   Products. Efile 2012 tax return You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Efile 2012 tax return Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD or photocopy from reproducible proofs. Efile 2012 tax return Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Efile 2012 tax return Services. Efile 2012 tax return You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. Efile 2012 tax return An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Efile 2012 tax return If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. Efile 2012 tax return No appointment is necessary—just walk in. Efile 2012 tax return If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. Efile 2012 tax return A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. Efile 2012 tax return If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. Efile 2012 tax return All other issues will be handled without an appointment. Efile 2012 tax return To find the number of your local office, go to www. Efile 2012 tax return irs. Efile 2012 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Efile 2012 tax return Mail. Efile 2012 tax return You can send your order for forms, instructions, and publications to the address below. Efile 2012 tax return You should receive a response within 10 days after your request is received. Efile 2012 tax return  Internal Revenue Service 1201 N. Efile 2012 tax return Mitsubishi Motorway Bloomington, IL 61705-6613 Taxpayer Advocate Service. Efile 2012 tax return   The Taxpayer Advocate Service (TAS) is your voice at the IRS. Efile 2012 tax return Our job is to ensure that every taxpayer is treated fairly, and that you know and understand your rights. Efile 2012 tax return We offer free help to guide you through the often-confusing process of resolving tax problems that you haven’t been able to solve on your own. Efile 2012 tax return Remember, the worst thing you can do is nothing at all. Efile 2012 tax return   TAS can help if you can’t resolve your problem with the IRS and: Your problem is causing financial difficulties for you, your family, or your business. Efile 2012 tax return You face (or your business is facing) an immediate threat of adverse action. Efile 2012 tax return You have tried repeatedly to contact the IRS but no one has responded, or the IRS has not responded to you by the date promised. Efile 2012 tax return   If you qualify for our help, we’ll do everything we can to get your problem resolved. Efile 2012 tax return You will be assigned to one advocate who will be with you at every turn. Efile 2012 tax return We have offices in every state, the District of Columbia, and Puerto Rico. Efile 2012 tax return Although TAS is independent within the IRS, our advocates know how to work with the IRS to get your problems resolved. Efile 2012 tax return And our services are always free. Efile 2012 tax return   As a taxpayer, you have rights that the IRS must abide by in its dealings with you. Efile 2012 tax return Our tax toolkit at www. Efile 2012 tax return TaxpayerAdvocate. Efile 2012 tax return irs. Efile 2012 tax return gov can help you understand these rights. Efile 2012 tax return   If you think TAS might be able to help you, call your local advocate, whose number is in your phone book and on our website at www. Efile 2012 tax return irs. Efile 2012 tax return gov/advocate. Efile 2012 tax return You can also call our toll-free number at 1-877-777-4778. Efile 2012 tax return   TAS also handles large-scale or systemic problems that affect many taxpayers. Efile 2012 tax return If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. Efile 2012 tax return irs. Efile 2012 tax return gov/advocate. Efile 2012 tax return Low Income Taxpayer Clinics (LITCs). Efile 2012 tax return   Low Income Taxpayer Clinics (LITCs) are independent from the IRS. Efile 2012 tax return Some clinics serve individuals whose income is below a certain level and who need to resolve a tax problem. Efile 2012 tax return These clinics provide professional representation before the IRS or in court on audits, appeals, tax collection disputes, and other issues for free or for a small fee. Efile 2012 tax return Some clinics can provide information about taxpayer rights and responsibilities in many different languages for individuals who speak English as a second language. Efile 2012 tax return For more information and to find a clinic near you, see the LITC page on www. Efile 2012 tax return irs. Efile 2012 tax return gov/advocate or IRS Publication 4134, Low Income Taxpayer Clinic List. Efile 2012 tax return This publication is also available by calling 1-800-829-3676 or at your local IRS office. Efile 2012 tax return Free tax services. Efile 2012 tax return   Publication 910, IRS Guide to Free Tax Services, is your guide to IRS services and resources. Efile 2012 tax return Learn about free tax information from the IRS, including publications, services, and education and assistance programs. Efile 2012 tax return The publication also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on the telephone. Efile 2012 tax return The majority of the information and services listed in this publication are available to you free of charge. Efile 2012 tax return If there is a fee associated with a resource or service, it is listed in the publication. Efile 2012 tax return   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. Efile 2012 tax return DVD for tax products. Efile 2012 tax return You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. Efile 2012 tax return Prior-year forms, instructions, and publications. Efile 2012 tax return Tax Map: an electronic research tool and finding aid. Efile 2012 tax return Tax law frequently asked questions. Efile 2012 tax return Tax Topics from the IRS telephone response system. Efile 2012 tax return Internal Revenue Code—Title 26 of the U. Efile 2012 tax return S. Efile 2012 tax return Code. Efile 2012 tax return Links to other Internet based Tax Research Materials. Efile 2012 tax return Fill-in, print, and save features for most tax forms. Efile 2012 tax return Internal Revenue Bulletins. Efile 2012 tax return Toll-free and email technical support. Efile 2012 tax return Two releases during the year. Efile 2012 tax return  – The first release will ship the beginning of January. Efile 2012 tax return  – The final release will ship the beginning of March. Efile 2012 tax return Purchase the DVD from National Technical Information Service (NTIS) at www. Efile 2012 tax return irs. Efile 2012 tax return gov/cdorders for $30 (no handling fee) or call 1-877-233-6767 toll free to buy the DVD for $30 (plus a $6 handling fee). Efile 2012 tax return This image is too large to be displayed in the current screen. Efile 2012 tax return Please click the link to view the image. Efile 2012 tax return Fill-in Form 8300 Prev  Up  Next   Home   More Online Publications