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File taxes for 2011 Publication 3402 - Main Content Table of Contents What is a Limited Liability Company? Classification of an LLC LLCs Classified as Partnerships LLCs Classified as Disregarded Entities LLCs Classified as Corporations Subsequent Elections How To Get More InformationInternal Revenue Service Small Business Administration Other Federal Agencies What is a Limited Liability Company? For purposes of this publication, a limited liability company (LLC) is a business entity organized in the United States under state law. File taxes for 2011 Unlike a partnership, all of the members of an LLC have limited personal liability for its debts. File taxes for 2011 An LLC may be classified for federal income tax purposes as a partnership, corporation, or an entity disregarded as separate from its owner by applying the rules in Regulations section 301. File taxes for 2011 7701-3. File taxes for 2011 The information in this publication applies to LLCs in general, and different rules may apply to special situations, including banks, insurance companies, or nonprofit organizations that are LLCs or that own LLCs. File taxes for 2011 Check your state's requirements and the federal tax regulations for further information. File taxes for 2011 Classification of an LLC Default classification rules. File taxes for 2011   An LLC with at least two members is classified as a partnership for federal income tax purposes. File taxes for 2011 An LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes). File taxes for 2011 Also, an LLC's federal tax classification can subsequently change under certain default rules discussed later. File taxes for 2011 Elected classification. File taxes for 2011   If an LLC does not choose to be classified under the above default classifications, it can elect to be classified as an association taxable as a corporation or as an S corporation. File taxes for 2011 After an LLC has determined its federal tax classification, it can later elect to change that classification. File taxes for 2011 For details, see Subsequent Elections, later. File taxes for 2011 LLCs Classified as Partnerships If an LLC has at least two members and is classified as a partnership, it generally must file Form 1065, U. File taxes for 2011 S. File taxes for 2011 Return of Partnership Income. File taxes for 2011 Generally, an LLC classified as a partnership is subject to the same filing and reporting requirements as partnerships. File taxes for 2011 For certain purposes, members of an LLC are treated as limited partners in a limited partnership. File taxes for 2011 For example, LLC members are treated as limited partners for purposes of material participation under the passive activity limitation rules (see Temporary Regulation section 1. File taxes for 2011 469-5T(e)). File taxes for 2011 See the Instructions for Form 1065 for reporting rules that apply specifically to LLCs. File taxes for 2011 Member manager. File taxes for 2011   Only a member manager of an LLC can sign the partnership tax return. File taxes for 2011 And only a member manager can represent the LLC as the tax matters partner under the consolidated audit proceedings in sections 6221 through 6234. File taxes for 2011 A member manager is any owner of an interest in the LLC who, alone or together with others, has the continuing authority to make the management decisions necessary to conduct the business for which the LLC was formed. File taxes for 2011 If there are no elected or designated member managers, each owner is treated as a member manager. File taxes for 2011 Change in default classification. File taxes for 2011   If the number of members in an LLC classified as a partnership is reduced to only one member, it becomes an entity disregarded as separate from its owner under Regulations section 301. File taxes for 2011 7701-3(f)(2). File taxes for 2011 However, if the LLC has made an election to be classified as a corporation (discussed later) and that elective classification is in effect at the time of the change in membership, the default classification as a disregarded entity will not apply. File taxes for 2011   Other tax consequences of a change in membership, such as recognition of gain or loss, are determined by the transactions through which an interest in the LLC is acquired or disposed of. File taxes for 2011 If a partnership that becomes a disregarded entity as a result of a decrease in the number of members makes an election to be classified as a corporation, the applicable deemed transactions discussed under Subsequent Elections, later, apply. File taxes for 2011 Example 1. File taxes for 2011 Ethel and Francis are members of an LLC classified as a partnership for federal tax purposes. File taxes for 2011 Each holds an equal membership interest. File taxes for 2011 The LLC does not hold any unrealized receivables or substantially appreciated inventory. File taxes for 2011 Ethel sells her entire interest in the LLC to Francis for $10,000. File taxes for 2011 After the sale, the business is continued by the LLC, which is owned solely by Francis. File taxes for 2011 No entity classification election is made after the sale to treat the LLC as a corporation for federal tax purposes. File taxes for 2011 The partnership terminates when Francis buys Ethel's entire interest. File taxes for 2011 Ethel must treat the transaction as the sale of a partnership interest and must report gain or loss, if any, resulting from the sale of her partnership interest. File taxes for 2011 For purposes of determining the tax treatment of Francis, the partnership is deemed to make a liquidating distribution of all of its assets to Ethel and Francis, and after this distribution, Francis is treated as acquiring the assets deemed to have been distributed to Ethel in liquidation of Ethel's partnership interest. File taxes for 2011 Francis's basis in the assets attributable to Ethel's one-half interest in the partnership is $10,000, the purchase price for Ethel's partnership interest. File taxes for 2011 Upon the termination of the partnership, Francis is considered to receive a distribution of those assets attributable to Francis's former interest in the partnership. File taxes for 2011 Francis must recognize gain or loss, if any, on the deemed distribution of the assets to the extent required by Internal Revenue Code section 731(a). File taxes for 2011 See Partnership Distributions in Publication 541. File taxes for 2011 Example 2. File taxes for 2011 George and Henrietta are members of an LLC classified as a partnership for federal tax purposes. File taxes for 2011 Each holds an equal membership interest. File taxes for 2011 The LLC does not hold any unrealized receivables or substantially appreciated inventory. File taxes for 2011 George and Henrietta each sell their entire interests in the LLC to Ian, an unrelated person, in exchange for $10,000. File taxes for 2011 After the sale, the business is continued by the LLC, which is owned solely by Ian. File taxes for 2011 No entity classification election is made after the sale to treat the LLC as a corporation for federal tax purposes. File taxes for 2011 The partnership terminates when Ian purchases the entire interests of George and Henrietta in the LLC. File taxes for 2011 George and Henrietta must report gain or loss, if any, resulting from the sale of their partnership interests. File taxes for 2011 For purposes of classifying the acquisition by Ian, the partnership is deemed to make a liquidating distribution of its assets to George and Henrietta. File taxes for 2011 Immediately following this distribution, Ian is deemed to acquire, by purchase, all of the former partnership's assets. File taxes for 2011   For more details on the preceding two examples, see Revenue Ruling 99-6, 1999-6 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 6. File taxes for 2011 You can find Revenue Ruling 99-6 at www. File taxes for 2011 irs. File taxes for 2011 gov/pub/irs-irbs/irb99-06. File taxes for 2011 pdf. File taxes for 2011 LLCs Classified as Disregarded Entities If an LLC has only one member and is classified as an entity disregarded as separate from its owner, its income, deductions, gains, losses, and credits are reported on the owner's income tax return. File taxes for 2011 For example, if the owner of the LLC is an individual, the LLC's income and expenses would be reported on the following schedules filed with the owner's Form 1040: Schedule C, Profit or Loss from Business (Sole Proprietorship); Schedule C-EZ, Net Profit From Business (Sole Proprietorship); Schedule E, Supplemental Income and Loss; or Schedule F, Profit or Loss From Farming. File taxes for 2011 Employment tax and certain excise taxes. File taxes for 2011   A single-member LLC that is classified as a disregarded entity for income tax purposes is treated as a separate entity for purposes of employment tax and certain excise taxes. File taxes for 2011 For wages paid after January 1, 2009, the single-member LLC is required to use its name and employer identification number (EIN) for reporting and payment of employment taxes. File taxes for 2011 A single-member LLC is also required to use its name and EIN to register for excise tax activities on Form 637; pay and report excise taxes reported on Forms 720, 730, 2290, and 11-C; and claim any refunds, credits, and payments on Form 8849. File taxes for 2011 See the employment and excise tax returns for more information. File taxes for 2011 Self-employment tax rule for disregarded entity LLCs. File taxes for 2011   An individual owner of a single-member LLC classified as a disregarded entity is not an employee of the LLC. File taxes for 2011 Instead, the owner is subject to tax on the net earnings from self-employment of the LLC which is treated in the same manner as a sole-proprietorship. File taxes for 2011 Example 3. File taxes for 2011 LLC is a disregarded entity owned by Irene. File taxes for 2011 LLC has three employees (Kent, Patricia, and Tex) and pays wages. File taxes for 2011 LLC is treated as an entity separate from its owner for purposes of employment taxes. File taxes for 2011 For the wages paid to Kent, Patricia, and Tex, LLC is liable for income tax withholding, Federal Insurance Contributions Act (FICA) taxes, and Federal Unemployment Tax Act (FUTA) taxes. File taxes for 2011 In addition, LLC must file under its name and EIN the applicable employment tax returns; make timely employment tax deposits; and file with the Social Security Administration and furnish to LLC's employees (Kent, Patricia, and Tex) Forms W-2, Wage and Tax Statement. File taxes for 2011 Irene is self-employed for purposes of the self-employment tax. File taxes for 2011 Thus, Irene is subject to self-employment tax on her net earnings from self-employment with respect to LLC's activities. File taxes for 2011 Irene is not an employee of LLC for purposes of employment taxes. File taxes for 2011 Because LLC is treated as a sole proprietorship of Irene for income tax purposes, Irene must report the income and expenses from LLC on her Schedule C. File taxes for 2011 Irene will figure the tax due on her net earnings from self-employment on Schedule SE. File taxes for 2011 Irene can also deduct one-half of her self-employment tax on line 27 of her Form 1040. File taxes for 2011 Taxpayer identification number. File taxes for 2011   For all income tax purposes, a single-member LLC classified as a disregarded entity must use the owner's social security number (SSN) or EIN. File taxes for 2011 This includes all information returns and reporting related to income tax. File taxes for 2011 For example, if a disregarded entity LLC that is owned by an individual is required to provide a Form W-9, Request for Taxpayer Identification Number and Certification, the LLC must provide the owner's SSN or EIN, not the LLC's EIN. File taxes for 2011   However, most new single-member LLCs classified as a disregarded entity will need to obtain an EIN for the LLC. File taxes for 2011 An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed above (see Employment tax and certain excise taxes earlier). File taxes for 2011 See Form SS-4, Application for Employer Identification Number, for information on applying for an EIN. File taxes for 2011 Change in default classification. File taxes for 2011   If a single-member LLC classified as a disregarded entity for income tax purposes acquires an additional member, it becomes a partnership under Regulations section 301. File taxes for 2011 7701-3(f)(2). File taxes for 2011 However, if the LLC has made an election to be classified as a corporation (discussed later) and that elective classification is in effect at the time of the change in membership, the default classification as a partnership will not apply. File taxes for 2011   Other tax consequences of a change in membership, such as recognition of gain or loss, are determined by the transactions through which an interest in the LLC is acquired or disposed of. File taxes for 2011 If a disregarded entity that becomes a partnership as a result of an increase in the number of members makes an election to be classified as a corporation, the applicable deemed transactions discussed in Subsequent Elections, later, apply. File taxes for 2011 Example 4. File taxes for 2011 Bart, who is not related to Alain, buys 50% of Alain's interest in an LLC that is a disregarded entity for $5,000. File taxes for 2011 Alain does not contribute any portion of the $5,000 to the LLC. File taxes for 2011 Alain and Bart continue to operate the business of the LLC as co-owners of the LLC. File taxes for 2011 The LLC is converted to a partnership when the new member, Bart, buys an interest in the disregarded entity from the owner, Alain. File taxes for 2011 Bart's buying a 50% interest in Alain's ownership interest in the LLC is treated as Bart's buying a 50% interest in each of the LLC's assets, which are treated as owned directly by Alain for federal income tax purposes. File taxes for 2011 Immediately thereafter, Alain and Bart are treated as contributing their respective interests in those assets to a partnership in exchange for ownership interests in the partnership. File taxes for 2011 Alain recognizes gain or loss from the deemed sale to Bart of the 50% interest in the assets. File taxes for 2011 Neither Alain nor Bart recognizes any gain or loss as a result of the deemed contribution of the assets to the partnership. File taxes for 2011 Example 5. File taxes for 2011 Charles, who is not related to Danielle, contributes $10,000 to an LLC owned by Danielle for a 50% ownership interest in the LLC. File taxes for 2011 The LLC uses all of the contributed cash in its business. File taxes for 2011 Charles and Danielle continue to operate the business of the LLC as co-owners of the LLC. File taxes for 2011 The LLC is converted from a disregarded entity to a partnership when Charles contributes cash to the LLC. File taxes for 2011 Charles's contribution is treated as a contribution to a partnership in exchange for an ownership interest in the partnership. File taxes for 2011 Danielle is treated as contributing all of the assets of the LLC to the partnership in exchange for a partnership interest. File taxes for 2011 Neither Charles nor Danielle recognizes gain or loss as a result of the conversion of the disregarded entity to a partnership. File taxes for 2011   For more details on the preceding two examples, see Revenue Ruling 99-5, 1999-6 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 8. File taxes for 2011 You can find Revenue Ruling 99-5 at www. File taxes for 2011 irs. File taxes for 2011 gov/pub/irs-irbs/irb99-06. File taxes for 2011 pdf. File taxes for 2011 LLCs Classified as Corporations An LLC with either a single member or more than one member can elect to be classified as a corporation rather than be classified as a partnership or disregarded entity under the default rules discussed earlier. File taxes for 2011 File Form 8832, Entity Classification Election, to elect classification as a C corporation. File taxes for 2011 File Form 2553, Election by a Small Business Corporation, to elect classification as an S corporation. File taxes for 2011 LLCs electing classification as an S corporation are not required to file Form 8832 to elect classification as a corporation before filing Form 2553. File taxes for 2011 By filing Form 2553, an LLC is deemed to have elected classification as a corporation in addition to the S corporation classification. File taxes for 2011 If the LLC elects to be classified as a corporation by filing Form 8832, a copy of the LLC's Form 8832 must be attached to the federal income tax return of each direct and indirect owner of the LLC for the tax year of the owner that includes the date on which the election took effect. File taxes for 2011 Example 6. File taxes for 2011 Classification as a corporation without an S election. File taxes for 2011 Wanda and Sylvester are members of an LLC. File taxes for 2011 They agree that the LLC should be classified as a corporation but do not want to elect to have the LLC be treated as an S corporation. File taxes for 2011 The LLC must file Form 8832. File taxes for 2011 Example 7. File taxes for 2011 Classification as a corporation with an S election. File taxes for 2011 Evelyn and Carol are members of an LLC. File taxes for 2011 They agree that the LLC should be classified as an S corporation. File taxes for 2011 The LLC must file Form 2553 instead of Form 8832. File taxes for 2011 If the LLC is classified as a corporation, it must file a corporation income tax return. File taxes for 2011 If it is a C corporation, it is taxed on its taxable income and distributions to the members are includible in the members' gross income to the extent of the corporation's earnings and profits (double taxation). File taxes for 2011 If it is an S corporation, the corporation is generally not subject to any income tax and the income, deductions, gains, losses, and credits of the corporation “pass through” to the members. File taxes for 2011 Corporations generally file either: Form 1120, U. File taxes for 2011 S. File taxes for 2011 Corporation Income Tax Return; or Form 1120S, U. File taxes for 2011 S. File taxes for 2011 Income Tax Return for an S Corporation. File taxes for 2011 For more information on the income taxation of corporations and their shareholders, see Publication 542, Corporations. File taxes for 2011 For more information on the income taxation of S corporations and their shareholders, see the Instructions for Form 1120S, U. File taxes for 2011 S. File taxes for 2011 Income Tax Return for an S Corporation. File taxes for 2011 Subsequent Elections An LLC can elect to change its classification. File taxes for 2011 Generally, once an LLC has elected to change its classification, it cannot elect again to change it classification during the 60 months after the effective date of the election. File taxes for 2011 An election by a newly formed LLC that is effective on the date of formation is not considered a change for purposes of this limitation. File taxes for 2011 For more information and exceptions, see Regulations section 301. File taxes for 2011 7701-3(c) and the Form 8832 instructions. File taxes for 2011 An election to change classification can have significant tax consequences based on the following transactions that are deemed to occur as a result of the election. File taxes for 2011 Partnership to corporation. File taxes for 2011   An election to change classification from a partnership to a corporation will be treated as if the partnership contributed all of its assets and liabilities to the corporation in exchange for stock and the partnership then immediately liquidated by distributing the stock to its partners. File taxes for 2011   For more information, see Partnership Distributions in Publication 541 and Property Exchanged for Stock in Publication 542. File taxes for 2011 Corporation to partnership. File taxes for 2011   An election to change classification from a corporation to a partnership will be treated as if the corporation distributed all of its assets and liabilities to its shareholders in liquidation and the shareholders then immediately contributed all of the distributed assets and liabilities to a new partnership. File taxes for 2011   For more information, see Contribution of Property in Publication 541 and Distributions to Shareholders in Publication 542. File taxes for 2011 Corporation to disregarded entity. File taxes for 2011   An election to change classification from a corporation to a disregarded entity will be treated as if the corporation distributed all of its assets and liabilities to its single owner in liquidation. File taxes for 2011   For more information, see Distributions to Shareholders in Publication 542. File taxes for 2011 Disregarded entity to corporation. File taxes for 2011   An election to change classification from a disregarded entity to a corporation will be treated as if the owner of the disregarded entity contributed all of the assets and liabilities to the corporation in exchange for stock. File taxes for 2011   For more information, see Property Exchanged for Stock in Publication 542. File taxes for 2011 How To Get More Information This section describes the help the IRS and other federal agencies offer to taxpayers who operate their own businesses. File taxes for 2011 Internal Revenue Service 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. File taxes for 2011 By selecting the method that is best for you, you will have quick and easy access to tax help. File taxes for 2011 Contacting your Taxpayer Advocate. File taxes for 2011   The Taxpayer Advocate Service (TAS) is an independent organization within the IRS whose employees assist taxpayers who are experiencing economic harm, who are seeking help in resolving tax problems that have not been resolved through normal channels, or who believe that an IRS system or procedure is not working as it should. File taxes for 2011   You can contact the TAS by calling the TAS toll-free case intake line at 1-877-777-4778 or TTY/TDD 1-800-829-4059 to see if you are eligible for assistance. File taxes for 2011 You can also call or write to your local taxpayer advocate, whose phone number and address are listed in your local telephone directory and in Publication 1546, Taxpayer Advocate Service — Your Voice at the IRS. File taxes for 2011 You can file Form 911, Request for Taxpayer Advocate Service Assistance (And Application for Taxpayer Assistance Order), or ask an IRS employee to complete it on your behalf. File taxes for 2011 For more information, go to www. File taxes for 2011 irs. File taxes for 2011 gov/advocate. File taxes for 2011 Low Income Taxpayer Clinics (LITCs). File taxes for 2011   LITCs are independent organizations that provide low income taxpayers with representation in federal tax controversies with the IRS for free or for a nominal charge. File taxes for 2011 The clinics also provide tax education and outreach for taxpayers with limited English proficiency or who speak English as a second language. File taxes for 2011 Publication 4134, Low Income Taxpayer Clinic List, provides information on clinics in your area. File taxes for 2011 It is available at www. File taxes for 2011 irs. File taxes for 2011 gov or at your local IRS office. File taxes for 2011 Small business workshops. File taxes for 2011   Small business workshops are designed to help the small business owner understand and fulfill their federal tax responsibilities. File taxes for 2011 Workshops are sponsored and presented by IRS partners who are federal tax specialists. File taxes for 2011 Workshop topics vary from a general overview of taxes to more specific topics such as recordkeeping and retirement plans. File taxes for 2011 Although most are free, some workshops have fees associated with them. File taxes for 2011 Any fees charged for a workshop are paid to the sponsoring organization, not the IRS. File taxes for 2011   For more information, visit www. File taxes for 2011 irs. File taxes for 2011 gov/businesses/small. File taxes for 2011 Subscribe to e-news for small businesses. File taxes for 2011   Join the e-News for Small Businesses mailing list to receive updates, reminders, and other information useful to small business owners and self employed individuals. File taxes for 2011 Visit the website at www. File taxes for 2011 irs. File taxes for 2011 gov/businesses/small and click on “Subscribe to e-News. File taxes for 2011 ” Free tax services. File taxes for 2011   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. File taxes for 2011 It contains a list of free tax publications and describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. File taxes for 2011   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with disabilities. File taxes for 2011 Internet. File taxes for 2011 You can access the IRS website at www. File taxes for 2011 irs. File taxes for 2011 gov 24 hours a day, 7 days a week, to: E-file your return. File taxes for 2011 Find out about commercial tax preparation and e-file services available free to eligible taxpayers. File taxes for 2011 Check the status of your refund. File taxes for 2011 Go to www. File taxes for 2011 irs. File taxes for 2011 gov and click on Where's My Refund. File taxes for 2011 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. File taxes for 2011 If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). File taxes for 2011 Have your tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. File taxes for 2011 Download forms, instructions, and publications. File taxes for 2011 Order IRS products online. File taxes for 2011 Research your tax questions online. File taxes for 2011 Search publications online by topic or keyword. File taxes for 2011 View Internal Revenue Bulletins (IRBs) published in the last few years. File taxes for 2011 Figure your withholding allowances using the withholding calculator online at www. File taxes for 2011 irs. File taxes for 2011 gov/individuals. File taxes for 2011 Determine if Form 6251 must be filed using our Alternative Minimum Tax (AMT) Assistant. File taxes for 2011 Sign up to receive local and national tax news by email. File taxes for 2011 Get information on starting and operating a small business. File taxes for 2011 Phone. File taxes for 2011 Many services are available by phone. File taxes for 2011 Ordering forms, instructions, and publications. File taxes for 2011 Call 1-800-829-3676 to order current-year forms, instructions, and publications, and prior-year forms and instructions. File taxes for 2011 You should receive your order within 10 days. File taxes for 2011 Asking tax questions. File taxes for 2011 Call the IRS with your tax questions at 1-800-829-1040. File taxes for 2011 Solving problems. File taxes for 2011 You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. File taxes for 2011 An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. File taxes for 2011 Call your local Taxpayer Assistance Center for an appointment. File taxes for 2011 To find the number, go to www. File taxes for 2011 irs. File taxes for 2011 gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. File taxes for 2011 TTY/TDD equipment. File taxes for 2011 If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. File taxes for 2011 TeleTax topics. File taxes for 2011 Call 1-800-829-4477 to listen to pre-recorded messages covering various tax topics. File taxes for 2011 Refund information. File taxes for 2011 To check the status of your 2009 refund, call 1-800-829-1954 during business hours or 1-800-829-4477 (automated refund information 24 hours a day, 7 days a week). File taxes for 2011 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. File taxes for 2011 If you filed Form 8379 with your return, wait 14 weeks (11 weeks if you filed electronically). File taxes for 2011 Have your 2009 tax return available so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. File taxes for 2011 Refunds are sent out weekly on Fridays. File taxes for 2011 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. File taxes for 2011 Evaluating the quality of our telephone services. File taxes for 2011 To ensure IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. File taxes for 2011 One method is for a second IRS representative to listen in on or record random telephone calls. File taxes for 2011 Another is to ask some callers to complete a short survey at the end of the call. File taxes for 2011 Walk-in. File taxes for 2011 Many products and services are available on a walk-in basis. File taxes for 2011 Products. File taxes for 2011 You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. File taxes for 2011 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. File taxes for 2011 Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. File taxes for 2011 Services. File taxes for 2011 You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. File taxes for 2011 An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. File taxes for 2011 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. File taxes for 2011 No appointment is necessary—just walk in. File taxes for 2011 If you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. File taxes for 2011 A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. File taxes for 2011 If you have an ongoing, complex tax account problem or a special need, such as a disability, an appointment can be requested. File taxes for 2011 All other issues will be handled without an appointment. File taxes for 2011 To find the number of your local office, go to www. File taxes for 2011 irs. File taxes for 2011 gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. File taxes for 2011 Mail. File taxes for 2011 You can send your order for forms, instructions, and publications to the address below. File taxes for 2011 You should receive a response within 10 days after your request is received. File taxes for 2011 Internal Revenue Service1201 N. File taxes for 2011 Mitsubishi MotorwayBloomington, IL 61705–6613 DVD for tax products. File taxes for 2011 You can order Publication 1796, IRS Tax Products DVD, and obtain: Current-year forms, instructions, and publications. File taxes for 2011 Prior-year forms, instructions, and publications. File taxes for 2011 Tax Map: an electronic research tool and finding aid. File taxes for 2011 Tax law frequently asked questions. File taxes for 2011 Tax Topics from the IRS telephone response system. File taxes for 2011 Internal Revenue Code—Title 26 of the U. File taxes for 2011 S. File taxes for 2011 Code. File taxes for 2011 Fill-in, print, and save features for most tax forms. File taxes for 2011 Internal Revenue Bulletins. File taxes for 2011 Toll-free and email technical support. File taxes for 2011 Two releases during the year. File taxes for 2011 – The first release will ship the beginning of January. File taxes for 2011 – The final release will ship the beginning of March. File taxes for 2011 Purchase the DVD from National Technical Information Service (NTIS) at www. File taxes for 2011 irs. File taxes for 2011 gov/cdorders for $30 (no handling fee) or call 1-877-CDFORMS (1-877-233-6767) toll free to buy the DVD for $30 (plus a $6 handling fee). File taxes for 2011 Small Business Administration The Small Business Administration (SBA) offers training and educational programs, counseling services, financial programs, and contract assistance for small business owners. File taxes for 2011 The SBA also has publications and videos on a variety of business topics. File taxes for 2011 The following briefly describes assistance provided by the SBA. File taxes for 2011 Small Business Development Centers (SBDCs). File taxes for 2011   SBDCs provide counseling, training, and technical services to current and prospective small business owners who cannot afford the services of a private consultant. File taxes for 2011 Help is available when beginning, improving, or expanding a small business. File taxes for 2011 Business Information Centers (BICs). File taxes for 2011   BICs offer a small business reference library, management video tapes, and computer technology to help plan a business. File taxes for 2011 BICs also offer one-on-one assistance. File taxes for 2011 Individuals who are in business or are interested in starting a business can use BICs as often as they wish at no charge. File taxes for 2011 Service Corps of Retired Executives (SCORE). File taxes for 2011   SCORE provides small business counseling and training to current and prospective small business owners. File taxes for 2011 SCORE is made up of current and former business people who offer their expertise and knowledge to help people start, manage, and expand a small business. File taxes for 2011 SCORE also offers a variety of small business workshops. File taxes for 2011    Internet. File taxes for 2011 You can visit the SBA website at www. File taxes for 2011 sba. File taxes for 2011 gov. File taxes for 2011 While visiting the SBA website, you can find a variety of information of interest to small business owners. File taxes for 2011    Phone. File taxes for 2011 Call the SBA Answer Desk at 1-800-UASK-SBA (1-800-827-5722) for general information about programs available to assist small business owners. File taxes for 2011    Walk-in. File taxes for 2011 You can walk in to a Small Business Development Center or Business Information Center to request assistance with your small business. File taxes for 2011 To find the location nearest you, visit the SBA website or call the SBA Answer Desk. File taxes for 2011 Other Federal Agencies Other federal agencies also publish publications and pamphlets to assist small businesses. File taxes for 2011 Most of these are available from the Superintendent of Documents at the Government Printing Office. File taxes for 2011 You can get information and order these publications and pamphlets in several ways. File taxes for 2011 Internet. File taxes for 2011 You can visit the GPO website at www. File taxes for 2011 access. File taxes for 2011 gpo. File taxes for 2011 gov. File taxes for 2011 Mail. File taxes for 2011 Write to the GPO at the following address. File taxes for 2011 Superintendent of DocumentsU. File taxes for 2011 S. File taxes for 2011 Government Printing OfficeP. File taxes for 2011 O. File taxes for 2011 Box 979050St. File taxes for 2011 Louis, MO 63917-9000 Phone. File taxes for 2011 Call the GPO toll-free at 1-866-512-1800 or at 202-512-1800 from the Washington, DC area. File taxes for 2011 Prev  Up  Next   Home   More Online Publications
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File taxes for 2011 Internal Revenue Bulletin:  2013-12  March 18, 2013  Rev. File taxes for 2011 Proc. File taxes for 2011 2013-21 Table of Contents SECTION 1. File taxes for 2011 PURPOSE SECTION 2. File taxes for 2011 BACKGROUND SECTION 3. File taxes for 2011 SCOPE SECTION 4. File taxes for 2011 APPLICATION. File taxes for 2011 01 Limitations on Depreciation Deductions for Certain Automobiles. File taxes for 2011 . File taxes for 2011 02 Inclusions in Income of Lessees of Passenger Automobiles. File taxes for 2011 SECTION 5. File taxes for 2011 EFFECTIVE DATE SECTION 6. File taxes for 2011 DRAFTING INFORMATION SECTION 1. File taxes for 2011 PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2013, including separate tables of limitations on depreciation deductions for trucks and vans; and (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2013, including a separate table of inclusion amounts for lessees of trucks and vans. File taxes for 2011 The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. File taxes for 2011 SECTION 2. File taxes for 2011 BACKGROUND . File taxes for 2011 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. File taxes for 2011 For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. File taxes for 2011 The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. File taxes for 2011 This change reflects the higher rate of price inflation for trucks and vans since 1988. File taxes for 2011 . File taxes for 2011 02 Section 331(a) of the American Taxpayer Relief Act of 2012, Pub. File taxes for 2011 L. File taxes for 2011 No. File taxes for 2011 112-240, 126 Stat. File taxes for 2011 2313 (Jan. File taxes for 2011 2, 2013) (the “Act”) extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2014, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2014. File taxes for 2011 Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. File taxes for 2011 . File taxes for 2011 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). File taxes for 2011 Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. File taxes for 2011 Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2012, that is round 3 extension property (as defined in § 168(k)(4)(J)(iv)). File taxes for 2011 Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. File taxes for 2011 This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer: (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2013 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. File taxes for 2011 . File taxes for 2011 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. File taxes for 2011 The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. File taxes for 2011 Under § 1. File taxes for 2011 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. File taxes for 2011 One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. File taxes for 2011 Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. File taxes for 2011 SECTION 3. File taxes for 2011 SCOPE . File taxes for 2011 01 The limitations on depreciation deductions in section 4. File taxes for 2011 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2013, and continue to apply for each taxable year that the passenger automobile remains in service. File taxes for 2011 . File taxes for 2011 02 The tables in section 4. File taxes for 2011 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2013. File taxes for 2011 Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. File taxes for 2011 See Rev. File taxes for 2011 Proc. File taxes for 2011 2008-22, 2008-1 C. File taxes for 2011 B. File taxes for 2011 658, for passenger automobiles first leased during calendar year 2008; Rev. File taxes for 2011 Proc. File taxes for 2011 2009-24, 2009-17 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 885, for passenger automobiles first leased during calendar year 2009; Rev. File taxes for 2011 Proc. File taxes for 2011 2010-18, 2010-09 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 427, as amplified and modified by section 4. File taxes for 2011 03 of Rev. File taxes for 2011 Proc. File taxes for 2011 2011-21, 2011-12 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 560, for passenger automobiles first leased during calendar year 2010; Rev. File taxes for 2011 Proc. File taxes for 2011 2011-21, for passenger automobiles first leased during calendar year 2011; and Rev. File taxes for 2011 Proc. File taxes for 2011 2012-23, 2012-14 I. File taxes for 2011 R. File taxes for 2011 B. File taxes for 2011 712, for passenger automobiles first leased during calendar year 2012. File taxes for 2011 SECTION 4. File taxes for 2011 APPLICATION . File taxes for 2011 01 Limitations on Depreciation Deductions for Certain Automobiles. File taxes for 2011 (1) Amount of the inflation adjustment. File taxes for 2011 (a) Passenger automobiles (other than trucks or vans). File taxes for 2011 Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. File taxes for 2011 Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. File taxes for 2011 The new car component of the CPI was 115. File taxes for 2011 2 for October 1987 and 143. File taxes for 2011 787 for October 2012. File taxes for 2011 The October 2012 index exceeded the October 1987 index by 28. File taxes for 2011 587. File taxes for 2011 Therefore, the automobile price inflation adjustment for 2013 for passenger automobiles (other than trucks and vans) is 24. File taxes for 2011 8 percent (28. File taxes for 2011 587/115. File taxes for 2011 2 x 100%). File taxes for 2011 The dollar limitations in § 280F(a) are multiplied by a factor of 0. File taxes for 2011 248, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2013. File taxes for 2011 This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2013. File taxes for 2011 (b) Trucks and vans. File taxes for 2011 To determine the dollar limitations for trucks and vans first placed in service during calendar year 2013, the Service uses the new truck component of the CPI instead of the new car component. File taxes for 2011 The new truck component of the CPI was 112. File taxes for 2011 4 for October 1987 and 149. File taxes for 2011 386 for October 2012. File taxes for 2011 The October 2012 index exceeded the October 1987 index by 36. File taxes for 2011 986. File taxes for 2011 Therefore, the automobile price inflation adjustment for 2013 for trucks and vans is 32. File taxes for 2011 9 percent (36. File taxes for 2011 986/112. File taxes for 2011 4 x 100%). File taxes for 2011 The dollar limitations in § 280F(a) are multiplied by a factor of 0. File taxes for 2011 329, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. File taxes for 2011 This adjustment applies to all trucks and vans that are first placed in service in calendar year 2013. File taxes for 2011 (2) Amount of the limitation. File taxes for 2011 Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2013. File taxes for 2011 Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2013 for which the § 168(k) additional first year depreciation deduction applies. File taxes for 2011 Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2013 for which the § 168(k) additional first year depreciation deduction does not apply. File taxes for 2011 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,360 2nd Tax Year $5,400 3rd Tax Year $3,250 Each Succeeding Year $1,975 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2013 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,360 2nd Tax Year $5,400 3rd Tax Year $3,250 Each Succeeding Year $1,975 . File taxes for 2011 02 Inclusions in Income of Lessees of Passenger Automobiles. File taxes for 2011 A taxpayer must follow the procedures in § 1. File taxes for 2011 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2013. File taxes for 2011 In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. File taxes for 2011 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2013 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 2 4 6 7 8 19,500 20,000 2 5 6 9 9 20,000 20,500 2 5 8 9 11 20,500 21,000 3 6 8 10 12 21,000 21,500 3 6 10 11 13 21,500 22,000 3 7 10 13 14 22,000 23,000 4 8 11 14 16 23,000 24,000 4 9 14 16 18 24,000 25,000 5 10 15 18 21 25,000 26,000 5 12 16 21 23 26,000 27,000 6 12 19 23 25 27,000 28,000 6 14 20 25 28 28,000 29,000 7 15 22 27 30 29,000 30,000 7 16 24 29 33 30,000 31,000 8 17 26 31 35 31,000 32,000 8 19 27 33 38 32,000 33,000 9 20 29 35 40 33,000 34,000 10 21 31 37 43 34,000 35,000 10 22 33 39 45 35,000 36,000 11 23 35 41 48 36,000 37,000 11 25 36 43 50 37,000 38,000 12 26 38 45 53 38,000 39,000 12 27 40 47 55 39,000 40,000 13 28 42 49 58 40,000 41,000 13 29 44 52 59 41,000 42,000 14 30 45 54 63 42,000 43,000 14 32 47 56 64 43,000 44,000 15 33 48 59 67 44,000 45,000 15 34 51 60 69 45,000 46,000 16 35 52 63 72 46,000 47,000 17 36 54 65 74 47,000 48,000 17 38 55 67 77 48,000 49,000 18 39 57 69 79 49,000 50,000 18 40 59 71 82 50,000 51,000 19 41 61 73 84 51,000 52,000 19 42 63 75 87 52,000 53,000 20 43 65 77 89 53,000 54,000 20 45 66 79 92 54,000 55,000 21 46 68 81 94 55,000 56,000 21 47 70 84 96 56,000 57,000 22 48 72 85 99 57,000 58,000 22 50 73 88 101 58,000 59,000 23 51 75 90 103 59,000 60,000 24 52 76 92 106 60,000 62,000 24 54 79 95 110 62,000 64,000 25 56 83 99 115 64,000 66,000 27 58 87 103 120 66,000 68,000 28 60 90 108 125 68,000 70,000 29 63 93 112 130 70,000 72,000 30 65 97 117 134 72,000 74,000 31 68 100 121 139 74,000 76,000 32 70 104 125 144 76,000 78,000 33 73 107 129 149 78,000 80,000 34 75 111 133 154 80,000 85,000 36 79 117 141 162 85,000 90,000 39 85 126 151 174 90,000 95,000 41 91 135 162 186 95,000 100,000 44 97 144 172 199 100,000 110,000 48 106 157 188 217 110,000 120,000 53 118 174 210 241 120,000 130,000 59 129 193 230 266 130,000 140,000 64 141 210 252 290 140,000 150,000 70 153 227 273 315 150,000 160,000 75 165 245 294 339 160,000 170,000 80 177 263 315 363 170,000 180,000 86 189 280 336 388 180,000 190,000 91 201 298 357 412 190,000 200,000 97 212 316 378 436 200,000 210,000 102 224 333 400 461 210,000 220,000 107 236 351 420 486 220,000 230,000 113 248 368 442 509 230,000 240,000 118 260 386 463 534 240,000 And up 124 272 403 484 558 REV. File taxes for 2011 PROC. File taxes for 2011 2013-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2013 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 1 3 4 5 6 19,500 20,000 2 3 5 6 7 20,000 20,500 2 4 6 7 8 20,500 21,000 2 5 7 8 9 21,000 21,500 2 5 8 9 11 21,500 22,000 3 6 8 10 12 22,000 23,000 3 7 10 11 14 23,000 24,000 4 8 11 14 16 24,000 25,000 4 9 14 16 18 25,000 26,000 5 10 15 18 21 26,000 27,000 5 12 17 20 23 27,000 28,000 6 13 18 23 25 28,000 29,000 6 14 20 25 28 29,000 30,000 7 15 22 27 30 30,000 31,000 7 16 24 29 33 31,000 32,000 8 17 26 31 35 32,000 33,000 8 19 27 33 38 33,000 34,000 9 20 29 35 41 34,000 35,000 10 21 31 37 43 35,000 36,000 10 22 33 39 46 36,000 37,000 11 23 35 41 48 37,000 38,000 11 25 36 43 51 38,000 39,000 12 26 38 45 53 39,000 40,000 12 27 40 48 55 40,000 41,000 13 28 42 49 58 41,000 42,000 13 29 44 52 60 42,000 43,000 14 30 46 54 62 43,000 44,000 14 32 47 56 65 44,000 45,000 15 33 48 59 67 45,000 46,000 15 34 51 60 70 46,000 47,000 16 35 52 63 72 47,000 48,000 17 36 54 65 74 48,000 49,000 17 38 55 67 77 49,000 50,000 18 39 57 69 79 50,000 51,000 18 40 59 71 82 51,000 52,000 19 41 61 73 84 52,000 53,000 19 42 63 75 87 53,000 54,000 20 43 65 77 89 54,000 55,000 20 45 66 80 91 55,000 56,000 21 46 68 81 94 56,000 57,000 21 47 70 84 96 57,000 58,000 22 48 72 86 98 58,000 59,000 22 50 73 88 101 59,000 60,000 23 51 75 90 103 60,000 62,000 24 52 78 93 108 62,000 64,000 25 55 81 97 113 64,000 66,000 26 57 85 101 118 66,000 68,000 27 60 88 106 122 68,000 70,000 28 62 92 110 127 70,000 72,000 29 64 96 114 132 72,000 74,000 30 67 99 118 137 74,000 76,000 31 69 103 122 142 76,000 78,000 32 72 105 127 147 78,000 80,000 34 73 110 131 151 80,000 85,000 35 78 116 138 160 85,000 90,000 38 84 124 149 172 90,000 95,000 41 90 133 160 184 95,000 100,000 44 95 142 171 196 100,000 110,000 48 104 156 186 214 110,000 120,000 53 116 173 207 240 120,000 130,000 58 128 191 228 264 130,000 140,000 64 140 208 249 288 140,000 150,000 69 152 226 270 313 150,000 160,000 75 164 243 292 336 160,000 170,000 80 176 261 312 361 170,000 180,000 85 188 278 334 386 180,000 190,000 91 199 296 355 410 190,000 200,000 96 211 314 376 434 200,000 210,000 101 223 332 397 459 210,000 220,000 107 235 349 418 483 220,000 230,000 112 247 367 439 507 230,000 240,000 118 259 384 460 532 240,000 And up 123 271 401 482 556 SECTION 5. File taxes for 2011 EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2013. File taxes for 2011 SECTION 6. File taxes for 2011 DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. File taxes for 2011 Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). File taxes for 2011 For further information regarding this revenue procedure, contact Mr. File taxes for 2011 Harvey at (202) 622-4930 (not a toll-free call). File taxes for 2011 Prev  Up  Next   Home   More Internal Revenue Bulletins