File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Free 2012 State Tax Filing

H&r Block Free FileFile 1040ez For FreeIrs Form 1040ez Tax TablesHow To File 1040x Amended ReturnTaxact 1040xHow To File Taxes For Self Employment IncomeForm 1040a 2012How To File Self Employment TaxesNeed To File My 2012 TaxesHow To File Military TaxesInstructions For 1040ezHrblock Free File2011 Irs Forms And PublicationsH&r Block Online TaxesCan I File 1040nr Online2011 Irs Form 10412010 Tax Filing SoftwareH&r Block Free TaxBack Tax DebtWhere Do I File My 2012 Federal Tax ReturnFile 1040ez OnlineHow To File Amended Tax Return For 2011Bankruptcy Married Filing Income Taxes Separately1040 Short FormForm 1040ezHow To Amend Federal Tax ReturnStandard Deduction For Form 1040How Do You Amend TaxesFree 2012 Tax SoftwareAmending 2012 Federal Tax ReturnFree Online State Tax Preparation2010 Ez Tax FormFile State And Federal Taxes FreeNeed 2009 Tax ReturnPast Year TaxesFree Federal State Tax Filing2011 Online Tax Software1040ez2013 FormH And R Block State TaxesVita Irs

Free 2012 State Tax Filing

Free 2012 state tax filing Publication 1544(SP) - Main Content Table of Contents ¿Por qué hay que declarar estos pagos? ¿Quién tiene que presentar el Formulario 8300-SP?¿Qué pagos tienen que declararse? ¿Qué es efectivo? Número de identificación del contribuyente (TIN) ¿Qué son transacciones relacionadas? ¿Qué se hace en el caso de transacciones sospechosas? Cuándo, dónde y qué se tiene que presentar Ejemplos Multas y sanciones Cómo Obtener Ayuda con los ImpuestosTalleres de Asistencia Tributaria para Contribuyentes de Bajos Recursos (LITC, por sus siglas en inglés). Free 2012 state tax filing ¿Por qué hay que declarar estos pagos? A menudo, los contrabandistas y narcotraficantes hacen transacciones de grandes cantidades de efectivo con el propósito de “blanquear” (lavar) dinero proveniente de actividades ilícitas. Free 2012 state tax filing El término “blanquear” (lavar) significa convertir el dinero “sucio”, u obtenido ilegalmente, en dinero “limpio” (como si fuera obtenido legalmente). Free 2012 state tax filing El gobierno a menudo puede rastrear el origen de este dinero blanqueado (lavado) mediante los pagos que se declaran. Free 2012 state tax filing Determinadas leyes aprobadas por el Congreso requieren que se declaren estos pagos. Free 2012 state tax filing Al cumplir con estas leyes, se proporciona información valiosa para ayudar a poner fin a las operaciones de los evasores de impuestos y los que se benefician del narcotráfico y otras actividades delictivas. Free 2012 state tax filing La USA Patriot Act (Ley patriota de los Estados Unidos) del año 2001 amplió el alcance de dichas leyes con el propósito de rastrear los fondos usados para llevar a cabo acciones terroristas. Free 2012 state tax filing ¿Quién tiene que presentar el Formulario 8300-SP? Por regla general, toda persona que se dedique a una ocupación o negocio en los que reciba más de $10,000 en efectivo en una sola transacción, o en varias transacciones relacionadas, tiene que presentar el Formulario 8300-SP. Free 2012 state tax filing Por ejemplo, es posible que tenga que presentar el Formulario 8300-SP si la ocupación o negocio al cual se dedica es la compraventa de joyas, muebles, barcos, aeronaves o automóviles, si es prestamista, abogado o corredor de bienes raíces, o si se trata de una compañía de seguros o de una agencia de viajes. Free 2012 state tax filing Las reglas especiales que deben cumplir los secretarios de los tribunales federales o estatales aparecen más adelante bajo Fianza recibida por secretarios de los tribunales. Free 2012 state tax filing Sin embargo, usted no tiene que presentar el Formulario 8300-SP si la transacción no está relacionada con su ocupación o negocio. Free 2012 state tax filing Por ejemplo, si es dueño de una joyería y vende su automóvil personal por una cantidad superior a $10,000 en efectivo, no tendrá que presentar el Formulario 8300-SP por esta transacción. Free 2012 state tax filing Definición de transacción. Free 2012 state tax filing   Se lleva a cabo una “transacción” cuando: Se venden bienes o propiedades, o se prestan servicios; Se alquila una propiedad; Se intercambia efectivo por otro efectivo; Se contribuye a una cuenta de fideicomiso o a una cuenta en plica (depósito en custodia de un tercero); Se saca o se paga un préstamo; o Se convierte el efectivo en un instrumento negociable, como un cheque o un bono. Free 2012 state tax filing Definición de persona. Free 2012 state tax filing   Una “persona” incluye una persona física, una empresa o compañía, una sociedad anónima, una sociedad colectiva, una asociación, un fideicomiso o un caudal hereditario. Free 2012 state tax filing   A las organizaciones exentas, incluidas las que tienen planes para sus empleados, se las considera también “personas”. Free 2012 state tax filing Sin embargo, las organizaciones exentas no tienen que presentar el Formulario 8300-SP cuando reciben una donación caritativa superior a $10,000 en efectivo, debido a que dicha donación no la reciben en el transcurso de una ocupación o negocio. Free 2012 state tax filing Transacciones en el extranjero. Free 2012 state tax filing   No tiene que presentar el Formulario 8300-SP si toda la transacción (incluyendo la recepción del efectivo) se lleva a cabo fuera de: Los 50 estados de los Estados Unidos, El Distrito de Columbia, Puerto Rico o Una posesión o territorio de los Estados Unidos. Free 2012 state tax filing Sin embargo, tiene que presentar el Formulario 8300-SP si alguna parte de la transacción (incluyendo la recepción del efectivo) se lleva a cabo en Puerto Rico o en una posesión o territorio de los Estados Unidos y usted está sujeto a las disposiciones del Código Federal de Impuestos Internos. Free 2012 state tax filing Fianza recibida por los secretarios de los tribunales. Free 2012 state tax filing   Todo secretario de un tribunal federal o estatal que reciba más de $10,000 en efectivo en concepto de fianza a favor de una persona que ha sido acusada de cualquiera de los delitos penales enumerados a continuación tiene que presentar el Formulario 8300-SP: Todo delito federal relacionado con la ley de control de narcóticos (sustancias controladas), Extorsión (racketeering), Blanqueo (lavado) de dinero y Todo delito estatal que sea considerablemente similar a los mencionados anteriormente en los puntos 1, 2 ó 3. Free 2012 state tax filing Para obtener más información acerca del reglamento con el que deben cumplir los secretarios de los tribunales, vea la sección 1. Free 2012 state tax filing 6050I-2 de los Reglamentos Federales del Impuesto Sobre los Ingresos Federales. Free 2012 state tax filing ¿Qué pagos tienen que declararse? Tiene que presentar el Formulario 8300-SP para declarar el efectivo que le paguen si el mismo: Supera los $10,000, Lo recibió en: Un solo pago en efectivo superior a $10,000, Varios pagos en efectivo recibidos en un período de un año, contado a partir de la fecha en que se hizo el pago inicial, que sumen un total de $10,000 u Otros pagos en efectivo no declarados anteriormente, cuya suma total recibida durante un período de 12 meses sea superior a $10,000. Free 2012 state tax filing Lo recibió en el curso de su ocupación o negocio, Lo recibió del mismo comprador (o agente) y Lo recibió en una sola transacción o en varias transacciones relacionadas (las cuales se definen más adelante). Free 2012 state tax filing ¿Qué es efectivo? Efectivo es: El dinero en monedas y billetes de los Estados Unidos (y de cualquier otro país) y Un cheque de cajero, giro bancario, cheque de viajero o giro que se reciba, si tiene un valor nominal de $10,000 o menos y se recibe en: Una transacción que tiene que ser declarada, como se define más adelante o Toda transacción en que a usted le conste que el pagador evita declarar en el Formulario 8300-SP. Free 2012 state tax filing El efectivo puede incluir un cheque de cajero aunque a éste se le llame “cheque de tesorero” o “cheque bancario”. Free 2012 state tax filing El efectivo no incluye un cheque girado contra la cuenta bancaria particular de una persona. Free 2012 state tax filing Un cheque de cajero, giro bancario, cheque de viajero o giro con un valor nominal de más de $10,000 no se considera efectivo. Free 2012 state tax filing Éstos no se consideran efectivo y usted no tiene que presentar el Formulario 8300-SP cuando los recibe porque, si fueron comprados con dinero en efectivo, el banco u otra institución financiera que los emitió debe presentar el Formulario 104 de la FinCEN para declararlos. Free 2012 state tax filing Ejemplo 1. Free 2012 state tax filing Usted es comerciante y se dedica a la compraventa y colección de monedas (numismático). Free 2012 state tax filing Roberto Coruña le compró monedas de oro por un precio de $13,200. Free 2012 state tax filing El Sr. Free 2012 state tax filing Coruña le pagó con $6,200 en moneda estadounidense y un cheque de cajero con un valor nominal de $7,000. Free 2012 state tax filing El cheque de cajero se considera efectivo. Free 2012 state tax filing En este caso, ha recibido más de $10,000 en efectivo y tiene que presentar el Formulario 8300-SP para declarar esta transacción. Free 2012 state tax filing Ejemplo 2. Free 2012 state tax filing Usted se dedica a la venta de joyas al por menor. Free 2012 state tax filing María Núñez le compra una joya por $12,000 y le paga con un cheque personal pagadero a usted por la cantidad de $9,600 y con cheques de viajero que ascienden a $2,400. Free 2012 state tax filing Debido a que el cheque personal no se considera efectivo, usted no ha recibido más de $10,000 en efectivo en la transacción. Free 2012 state tax filing No tiene que presentar el Formulario 8300-SP. Free 2012 state tax filing Ejemplo 3. Free 2012 state tax filing Usted es un comerciante que se dedica a la venta de barcos. Free 2012 state tax filing Emilia Espinosa le compra un barco por $16,500 y le paga con un cheque de cajero pagadero a usted por dicha cantidad. Free 2012 state tax filing El cheque de cajero no se considera efectivo, ya que el valor nominal del mismo es más de $10,000. Free 2012 state tax filing Usted no tiene que presentar el Formulario 8300-SP para declarar esta transacción. Free 2012 state tax filing Transacciones que se tienen que declarar Una transacción que tiene que declararse es aquélla que consiste en la venta al por menor de alguno de los siguientes: Un artículo de consumo duradero, como un automóvil o un barco. Free 2012 state tax filing Un artículo de consumo duradero es una propiedad que no es un terreno o un edificio y que: Es apropiado para uso personal, Se espera que dure por lo menos un año bajo uso normal, Tiene un precio de venta mayor de $10,000 y Se puede ver o tocar (propiedad tangible). Free 2012 state tax filing Por ejemplo, un automóvil cuyo valor es $20,000 es un artículo de consumo duradero, pero un camión de descarga (volquete) o maquinaria utilizada en una fábrica con un valor de $20,000 no lo es. Free 2012 state tax filing El automóvil es un artículo de consumo duradero aún cuando lo venda a un comprador para uso en una ocupación o negocio. Free 2012 state tax filing Un artículo coleccionable (por ejemplo, una obra de arte, alfombra, antigüedad, metal, piedra preciosa, sello o moneda). Free 2012 state tax filing Un viaje o entretenimiento, si el precio total de venta de todos los artículos vendidos para el mismo viaje o evento de entretenimiento en una sola transacción (o varias transacciones relacionadas) es más de $10,000. Free 2012 state tax filing Al calcular el precio total de venta de todos los artículos vendidos para un viaje o evento de entretenimiento, incluya el precio de venta de los artículos vendidos, como pasajes de avión, habitaciones de hotel y boletos de entrada. Free 2012 state tax filing Ejemplo. Free 2012 state tax filing Usted es agente de viajes. Free 2012 state tax filing Su cliente, Eduardo Juanes, le solicita que flete un avión de pasajeros con el propósito de llevar a un grupo de personas a un evento deportivo en otra ciudad. Free 2012 state tax filing Además, le solicita que reserve habitaciones en un hotel y boletos de entrada al evento deportivo para los miembros del grupo. Free 2012 state tax filing El Sr. Free 2012 state tax filing Juanes le paga a usted con dos giros por un valor de $6,000 cada uno. Free 2012 state tax filing En esta transacción usted ha recibido más de $10,000 en efectivo y, por lo tanto, tiene que presentar el Formulario 8300-SP. Free 2012 state tax filing Ventas al por menor. Free 2012 state tax filing   El término “ventas al por menor” significa toda venta hecha en el transcurso de un negocio u ocupación, principalmente las ventas al consumidor final. Free 2012 state tax filing   Por lo tanto, si su negocio u ocupación es principalmente de ventas al consumidor final, todas las ventas que haga en el transcurso de su ocupación o negocio son ventas al por menor. Free 2012 state tax filing Esto incluye toda venta de artículos para reventa. Free 2012 state tax filing Agente o intermediario. Free 2012 state tax filing   Una transacción que debe declararse incluye la venta al por menor de los artículos que aparecen en los puntos 1, 2 ó 3 de la lista anterior, aunque el pago haya sido recibido por un agente u otro intermediario en vez de directamente por el vendedor. Free 2012 state tax filing Excepción a la definición del término “efectivo” No se clasifican como efectivo un cheque de cajero, giro bancario, cheque de viajero o giro que usted reciba en una transacción que tenga que declararse, si una de las siguientes excepciones le corresponde: Excepción en el caso de ciertos préstamos bancarios. Free 2012 state tax filing   No se clasifican como efectivo un cheque de cajero, giro bancario, cheque de viajero o giro si provienen de un préstamo bancario. Free 2012 state tax filing Como prueba de que se obtuvieron de un préstamo bancario, puede usar una copia del contrato del préstamo, un documento escrito, instrucciones del banco acerca del gravamen u otra prueba similar. Free 2012 state tax filing Ejemplo. Free 2012 state tax filing Usted es concesionario de automóviles. Free 2012 state tax filing Le vende un automóvil a Carlota Blanco por $11,500. Free 2012 state tax filing La Srta. Free 2012 state tax filing Blanco le pagó a usted $2,000 en moneda estadounidense y le entregó un cheque de cajero por $9,500, pagadero a usted y a ella. Free 2012 state tax filing Se sabe que el cheque de cajero proviene de un préstamo bancario porque contiene instrucciones para que se le registre un gravamen al automóvil como garantía de pago del préstamo y, por lo tanto, el cheque de cajero no se considera efectivo. Free 2012 state tax filing No tiene que presentar el Formulario 8300-SP en este caso. Free 2012 state tax filing Excepción en el caso de ciertas ventas a plazos. Free 2012 state tax filing   No se considera efectivo un cheque de cajero, giro bancario, cheque de viajero o giro, si el mismo se recibe como el pago de un pagaré o de un contrato de ventas a plazos (incluido un contrato de arrendamiento que se considera una venta para propósitos del impuesto federal). Free 2012 state tax filing Sin embargo, esta excepción le corresponde solamente si: Usa pagarés o contratos similares en otras ventas a consumidores en el transcurso normal de su negocio u ocupación y El total de pagos que reciba como producto de la venta el sexagésimo (60) día después de la fecha en que se efectúe la venta o antes, asciende a un 50% o menos del precio de compra. Free 2012 state tax filing Excepción en el caso de ciertos planes de pagos iniciales. Free 2012 state tax filing   No se considera efectivo un cheque de cajero, giro bancario, cheque de viajero o giro si lo recibió como pago por un artículo de consumo duradero o coleccionable y, además, se dan todas las condiciones siguientes: Lo recibe conforme a un plan de pagos que requiere: Uno o más pagos iniciales y El pago del saldo del precio de la compra en la fecha de la venta. Free 2012 state tax filing Lo recibe más de 60 días antes de la fecha de la venta. Free 2012 state tax filing Durante el transcurso normal de su ocupación o negocio, usa planes de pagos con las mismas condiciones (o similares) cuando hace ventas a consumidores. Free 2012 state tax filing Excepción en el caso de viajes y entretenimiento. Free 2012 state tax filing   No se considera efectivo un cheque de cajero, giro bancario, cheque de viajero o giro recibido para un viaje o entretenimiento, si se dan todas las condiciones siguientes: Lo recibe conforme a un plan de pagos que requiere: Uno o más pagos iniciales y Que el saldo del precio de compra se pague antes de que se proporcione el artículo de viaje o entretenimiento (como el precio de un pasaje aéreo). Free 2012 state tax filing Lo recibe más de 60 días antes de la fecha en la cual vence el pago final. Free 2012 state tax filing Durante el transcurso normal de su ocupación o negocio, usa planes de pagos con las mismas condiciones (o similares) cuando hace ventas a consumidores. Free 2012 state tax filing Número de identificación del contribuyente (TIN) Tiene que proveer el número correcto de identificación del contribuyente (TIN, por sus siglas en inglés) de la(s) persona(s) de la(s) cual(es) recibe el efectivo. Free 2012 state tax filing Si la transacción se hace en representación de otra(s) persona(s), usted tiene que proveer el número de identificación del contribuyente de esa(s) persona(s). Free 2012 state tax filing Si no sabe cuál es el número de identificación del contribuyente de la(s) persona(s), tiene que pedírselo. Free 2012 state tax filing Usted podría estar sujeto a multas o sanciones por no incluir el número de identificación del contribuyente o por incluir un número incorrecto. Free 2012 state tax filing Hay tres tipos de número de identificación del contribuyente: El número de identificación de una persona física, incluida una persona que es dueña única de un negocio, es su número de Seguro Social (SSN, por sus siglas en inglés). Free 2012 state tax filing El número de identificación del contribuyente de una persona que es extranjera y no residente, pero necesita dicho número y no tiene derecho a obtener un número de Seguro Social, es el número de identificación del contribuyente individual (ITIN, por sus siglas en inglés) expedido por el IRS. Free 2012 state tax filing Un número de identificación del contribuyente individual consta de nueve dígitos, similar a un número de Seguro Social. Free 2012 state tax filing El número de identificación del contribuyente individual de otras personas, incluidas las sociedades anónimas, sociedades colectivas y caudales hereditarios, es el número de identificación del empleador (EIN, por sus siglas en inglés). Free 2012 state tax filing Excepción. Free 2012 state tax filing    Usted no está obligado a proporcionar el TIN de un extranjero no residente o una organización extranjera si dicha persona u organización extranjera: No recibe ingresos que estén realmente relacionados con la operación de una ocupación o negocio en los Estados Unidos; No tiene oficina o lugar de negocios, ni agente financiero o agente pagador en los Estados Unidos; No presenta una declaración de impuestos federales; No proporciona un certificado de retención de impuestos, el cual se describe en la sección 1. Free 2012 state tax filing 1441-1(e)(2) ó (3) ó 1. Free 2012 state tax filing 1441-5(c)(2)(iv) ó (3)(iii), según se exija en la sección 1. Free 2012 state tax filing 1441-1(e)(4)(vii); No tiene que proporcionar el TIN en una declaración escrita ni en ningún otro documento obligatorio conforme a la sección 897 o la sección 1445 de los reglamentos de los impuestos sobre el ingreso o En el caso de un extranjero no residente, el mismo no ha optado por presentar una declaración conjunta de impuesto federal sobre los ingresos con su cónyuge, que es ciudadano estadounidense o residente de los Estados Unidos. Free 2012 state tax filing ¿Qué son transacciones relacionadas? Las transacciones que se lleven a cabo entre un comprador (o un agente del comprador) y un vendedor en un período de 24 horas son transacciones relacionadas. Free 2012 state tax filing Si usted recibe de un mismo comprador más de $10,000 en efectivo en dos o más transacciones en un período de 24 horas, tiene que tratar las transacciones como una sola transacción y declarar los pagos en el Formulario 8300-SP. Free 2012 state tax filing Por ejemplo, si en un mismo día le vende a un cliente dos productos por un valor de $6,000 cada uno y el cliente le paga en efectivo, estas transacciones están relacionadas. Free 2012 state tax filing Debido a que el total de ambas transacciones asciende a $12,000 (más de $10,000), tiene que presentar el Formulario 8300-SP. Free 2012 state tax filing Más de 24 horas entre transacciones. Free 2012 state tax filing   Las transacciones son relacionadas aunque se lleven a cabo en un período de más de 24 horas entre ellas y se tiene conocimiento, o tiene razón para saber, que cada transacción es una de una serie de transacciones relacionadas entre ellas. Free 2012 state tax filing   Por ejemplo, usted es agente de viajes y un cliente le paga $8,000 en efectivo para un viaje. Free 2012 state tax filing Dos días más tarde, el mismo cliente le paga $3,000 adicionales en efectivo para incluir a otra persona en el viaje. Free 2012 state tax filing Estas transacciones están relacionadas y, por lo tanto, tiene que presentar el Formulario 8300-SP para declararlas. Free 2012 state tax filing ¿Qué se hace en el caso de transacciones sospechosas? Si recibe $10,000 o menos en efectivo, puede presentar voluntariamente el Formulario 8300-SP si la transacción parece ser sospechosa. Free 2012 state tax filing Una transacción es sospechosa si parece que una persona trata de persuadirlo para no presentar el Formulario 8300-SP o trata de que usted presente un Formulario 8300-SP con información falsa o incompleta, o si hay indicios de una posible actividad ilegal. Free 2012 state tax filing Si usted tiene alguna sospecha, le instamos a que se comunique lo antes posible con Investigación Penal del IRS (Criminal Investigation) de su localidad. Free 2012 state tax filing O puede llamar gratis a la línea directa de la FinCEN para instituciones financieras, al 1-866-556-3974. Free 2012 state tax filing El servicio en esta línea telefónica está disponible en inglés. Free 2012 state tax filing Cuándo, dónde y qué se tiene que presentar La cantidad que usted reciba, así como cuándo la reciba, determinará cuándo tiene que presentar la declaración. Free 2012 state tax filing Por lo general, tiene que presentar el Formulario 8300-SP dentro de un plazo de 15 días después de recibir un pago. Free 2012 state tax filing Si el día en que se vence el plazo para presentar el Formulario 8300-SP (el decimoquinto (15) día o el último día en el que puede presentar el formulario a tiempo) es un sábado, domingo o día feriado oficial, dicho día de vencimiento se pospone hasta el próximo día que no sea sábado, domingo o día feriado oficial. Free 2012 state tax filing Más de un pago. Free 2012 state tax filing   En algunas transacciones, el comprador puede acordar con usted pagarle en efectivo a plazos. Free 2012 state tax filing Si el primer pago es más de $10,000, tiene que presentar el Formulario 8300-SP dentro de un plazo de 15 días. Free 2012 state tax filing Si el primer pago no excede de $10,000, tiene que sumar el primer pago y todo pago posterior que haya recibido en un período de un año, a partir de la fecha en que recibió el primer pago. Free 2012 state tax filing Cuando el total de los pagos en efectivo ascienda a más de $10,000, tiene que presentar el Formulario 8300-SP dentro de un plazo de 15 días. Free 2012 state tax filing   Después de presentar el Formulario 8300-SP, tiene que comenzar a contar de nuevo los pagos en efectivo que reciba de ese comprador. Free 2012 state tax filing Si recibe de dicho comprador más de $10,000 en pagos adicionales en efectivo dentro de un período de 12 meses, tiene que presentar otro Formulario 8300-SP. Free 2012 state tax filing Tiene que presentar el formulario dentro de un plazo de 15 días a partir de la fecha en la cual recibió el pago que causó que los pagos adicionales sumaran más de $10,000. Free 2012 state tax filing   Si ya está obligado a presentar el Formulario 8300-SP y recibe pagos adicionales en un período de 15 días antes de la fecha en que debe presentarlo, puede declarar en un solo formulario todos los pagos recibidos. Free 2012 state tax filing Ejemplo. Free 2012 state tax filing El 10 de enero usted recibió un pago de $11,000 en efectivo. Free 2012 state tax filing Recibió también $4,000 el 15 de febrero, $5,000 el 20 de marzo y $6,000 el 12 de mayo en pagos adicionales en efectivo correspondientes a la misma transacción. Free 2012 state tax filing Tiene que presentar el Formulario 8300-SP a más tardar el 25 de enero por el pago de $11,000. Free 2012 state tax filing A más tardar el 27 de mayo, debe presentar un Formulario 8300-SP adicional por los pagos adicionales que suman $15,000. Free 2012 state tax filing ¿Cómo enmendar un informe?    Si va a enmendar un informe, marque el encasillado 1a, en la parte superior del Formulario 8300-SP. Free 2012 state tax filing Complete el formulario en su totalidad (de la Parte I a la Parte IV) e incluya la información que está enmendando. Free 2012 state tax filing No adjunte una copia del informe original. Free 2012 state tax filing Dónde se presenta el Formulario 8300-SP. Free 2012 state tax filing   Envíe el formulario por correo a la dirección que aparece en las instrucciones del Formulario 8300-SP. Free 2012 state tax filing Requisito de entregar una notificación al comprador. Free 2012 state tax filing   Tiene que entregar una notificación por escrito o por vía electrónica a cada persona cuyo nombre aparezca en algún Formulario 8300-SP que usted tenga que presentar. Free 2012 state tax filing Puede dar la notificación por vía electrónica únicamente si el receptor acepta recibirla en tal formato. Free 2012 state tax filing La notificación tiene que incluir el nombre y la dirección de su establecimiento, el nombre y el número de teléfono de la persona de contacto y el total de efectivo recibido de esa persona durante el año que usted tiene que declarar. Free 2012 state tax filing En dicha notificación, tiene que indicar también que está suministrando esta información al IRS . Free 2012 state tax filing   Tiene que enviar esta notificación al comprador a más tardar el 31 de enero del año siguiente al año en el cual recibió el efectivo que causó que tuviera que presentar el formulario. Free 2012 state tax filing Debe guardar durante 5 años una copia de cada Formulario 8300-SP que haya presentado. Free 2012 state tax filing Ejemplos Ejemplo 1. Free 2012 state tax filing Patricio Moreno es el gerente de ventas de “Automóviles de Exhibición, Inc. Free 2012 state tax filing ”. Free 2012 state tax filing El 6 de enero de 2013, Juana Leal le compra un automóvil nuevo y se lo paga con $18,000 en efectivo. Free 2012 state tax filing Patricio le pide a Juana que le muestre una identificación con el propósito de obtener los datos necesarios para completar el Formulario 8300-SP. Free 2012 state tax filing Un Formulario 8300-SP debidamente completado correspondiente a esta transacción aparece al final de esta publicación. Free 2012 state tax filing Patricio tiene que enviar por correo el Formulario 8300-SP a más tardar el día 21 de enero de 2013 a la dirección que aparece en las instrucciones del mismo. Free 2012 state tax filing Además, tiene que enviarle a Juana una notificación a más tardar el 31 de enero de 2014. Free 2012 state tax filing Ejemplo 2. Free 2012 state tax filing Usemos los mismos datos del Ejemplo 1, pero supongamos que en este caso Juana acordó hacer varios pagos en efectivo de $6,000 cada uno el día 6 de enero, el día 6 de febrero y el día 6 de marzo. Free 2012 state tax filing Patricio tendrá que presentar un Formulario 8300-SP a más tardar el 21 de febrero (15 días después de recibir la totalidad de los pagos en efectivo que asciendan a más de $10,000 dentro de un período de un año. Free 2012 state tax filing Patricio no está obligado a declarar los $6,000 restantes recibidos en efectivo, ya que esa cantidad no es más de $10,000. Free 2012 state tax filing No obstante, puede declararlos si cree que se trata de una transacción sospechosa. Free 2012 state tax filing Multas y sanciones La ley establece que se impongan multas civiles por no: Presentar un Formulario 8300-SP correcto para la fecha de vencimiento del mismo y Cumplir con el requisito de entregar una notificación a cada persona cuyo nombre aparece en el Formulario 8300-SP. Free 2012 state tax filing Si usted, a sabiendas, hace caso omiso del requisito de presentar un Formulario 8300-SP correcto para la fecha de vencimiento del mismo, la multa que se le impondrá será la mayor de las dos cantidades siguientes: $25,000 o La cantidad de efectivo que recibió y que estaba obligado a declarar (hasta un máximo de $100,000). Free 2012 state tax filing La ley establece que se impongan multas y sanciones por: No presentar intencionalmente el Formulario 8300-SP, Presentar intencionalmente un Formulario 8300-SP falso o fraudulento, Impedir o tratar de impedir que se presente el Formulario 8300-SP y Hacer arreglos, ayudar a que se hagan arreglos, o tratar de que se hagan arreglos para que se lleve a cabo una transacción de tal manera que parezca que no es necesario presentar el Formulario 8300-SP. Free 2012 state tax filing Si intencionalmente no cumple el requisito de presentar el Formulario 8300-SP, podría imponérsele una multa de hasta $250,000 a las personas físicas ($500,000 en el caso de una sociedad anónima) o una condena de hasta 5 años de cárcel, o ambas. Free 2012 state tax filing Estas cantidades en dólares se imponen de acuerdo a lo estipulado en la sección 3571 del Título 18 del Código de los Estados Unidos. Free 2012 state tax filing Las sanciones por no presentar el Formulario 8300-SP se pueden imponer también a toda persona (incluso a un pagador) que trate de dificultar o impedir que el vendedor (o el establecimiento comercial) presente un Formulario 8300-SP correcto. Free 2012 state tax filing Esto incluye todo intento de estructurar la transacción de manera que parezca innecesario presentar el Formulario 8300-SP. Free 2012 state tax filing “Estructurar” significa dividir una transacción cuantiosa de efectivo en pequeñas transacciones de efectivo. Free 2012 state tax filing Cómo Obtener Ayuda con los Impuestos Puede obtener ayuda con asuntos relacionados con sus impuestos que no hayan sido aún resueltos, pedir gratuitamente publicaciones y formularios, hacer preguntas acerca de los impuestos, así como obtener más información del IRS de varias maneras. Free 2012 state tax filing Al seleccionar el método que le resulte mejor, usted tendrá acceso rápido y fácil a ayuda relacionada con los impuestos. Free 2012 state tax filing Ayuda gratuita con la preparación de la declaración de impuestos. Free 2012 state tax filing   Existe ayuda gratuita para la preparación de la declaración de impuestos en todo el país con voluntarios capacitados por el IRS. Free 2012 state tax filing El programa Volunteer Income Tax Assistance (Programa de Ayuda Voluntaria a los Contribuyentes o VITA, por sus siglas en inglés) está diseñado para ayudar a los contribuyentes de bajos recursos y el programa Tax Counseling for the Elderly (Programa de Asesoramiento para las Personas Mayores o TCE, por sus siglas en inglés) está diseñado para ayudar a los contribuyentes de 60 años de edad o más con su declaración de impuestos. Free 2012 state tax filing En muchas de estas oficinas usted puede presentar la declaración electrónicamente gratis y los voluntarios le informarán sobre los créditos y deducciones a los que quizás tenga derecho. Free 2012 state tax filing Para ubicar un sitio de ayuda VITA o TCE cerca de usted, visite IRS. Free 2012 state tax filing gov o llame al 1-800-906-9887 o al 1-800-829-1040. Free 2012 state tax filing   Como parte del programa TCE, la Asociación Estadounidense de Personas Jubiladas (AARP, por sus siglas en inglés) ofrece el programa de asesoramiento AARP Tax-Aide (Programa de Ayuda Tributaria de la Asociación Estadounidense de Personas Jubiladas). Free 2012 state tax filing Para ubicar el sitio del programa AARP Tax-Aide más cercano a usted, llame al 1-888-227-7669 o visite el sitio web de la AARP, www. Free 2012 state tax filing aarp. Free 2012 state tax filing org/money/taxaide. Free 2012 state tax filing   Para más información sobre estos programas, visite www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/espanol e ingrese la palabra clave “ VITA ” en la esquina superior derecha. Free 2012 state tax filing La información está disponible en inglés. Free 2012 state tax filing Internet. Free 2012 state tax filing Puede tener acceso al sitio web del IRS, en IRS. Free 2012 state tax filing gov las 24 horas del día, los 7 días a la semana para: Revisar el estado de su reembolso. Free 2012 state tax filing Visite www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/espanol y pulse sobre el enlace “¿Dónde Está mi Reembolso?”. Free 2012 state tax filing Asegúrese de esperar por lo menos 72 horas después de que el IRS acuse recibo de su declaración presentada por vía electrónica o 3 a 4 semanas después de enviar una declaración en papel. Free 2012 state tax filing Si presentó el Formulario 8379 junto con su declaración, espere 14 semanas (11 semanas si la presentó electrónicamente). Free 2012 state tax filing Tenga a mano su declaración de impuestos para poder facilitar su número de Seguro Social, su estado civil para efectos de la declaración y la cantidad exacta en dólares enteros de su reembolso. Free 2012 state tax filing Presentar la declaración por medio del sistema electrónico e-file. Free 2012 state tax filing Aprenda sobre programas comerciales para la preparación de la declaración y los servicios e-file gratuitos para los contribuyentes que cumplan los requisitos. Free 2012 state tax filing Descargar formularios, instrucciones y publicaciones (incluyendo los formularios, instrucciones y publicaciones en audio). Free 2012 state tax filing Pedir productos del IRS a través de Internet. Free 2012 state tax filing Buscar información sobre sus preguntas acerca de impuestos en Internet. Free 2012 state tax filing Buscar publicaciones en Internet por tema o palabra clave. Free 2012 state tax filing Utilizar el Código de Impuestos Internos, los reglamentos u otras guías oficiales a través de Internet. Free 2012 state tax filing Ver los Internal Revenue Bulletins (Boletines del IRS, o IRB por sus siglas en inglés) publicados en los últimos años. Free 2012 state tax filing Calcular los descuentos de la retención usando nuestra calculadora diseñada para este propósito en el sitio web www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/individuals. Free 2012 state tax filing Esta herramienta está disponible en inglés. Free 2012 state tax filing Saber si tiene que presentar el Formulario 6251, utilizando el Alternative Minimum Tax (AMT) Assistant (Hoja de Cómputo Electrónica para Calcular el Impuesto Mínimo Alternativo). Free 2012 state tax filing Esta herramienta está disponible en inglés en el sitio www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/individuals. Free 2012 state tax filing Suscribirse para recibir noticias sobre impuestos locales y nacionales por medio de correo electrónico. Free 2012 state tax filing Obtener información acerca de cómo comenzar y administrar un pequeño negocio. Free 2012 state tax filing Teléfono. Free 2012 state tax filing Muchos servicios están disponibles por teléfono:  Cómo pedir formularios, instrucciones y publicaciones. Free 2012 state tax filing Llame al 1-800-829-3676 (servicio disponible en español) para pedir formularios, instrucciones y publicaciones de este año, así como de años anteriores. Free 2012 state tax filing Deberá recibir lo que ha pedido dentro de 10 días. Free 2012 state tax filing Cómo hacer preguntas relacionadas con los impuestos. Free 2012 state tax filing Llame al IRS para hacer preguntas al 1-800-829-1040. Free 2012 state tax filing Cómo resolver problemas. Free 2012 state tax filing Puede recibir ayuda en persona para resolver problemas tributarios en días laborables en los IRS Taxpayer Assistance Centers (Centros de Ayuda del IRS para Contribuyentes). Free 2012 state tax filing Un funcionario le puede explicar las cartas del IRS, ayudar a hacer solicitudes para ajustes a su cuenta tributaria o ayudarle a establecer un plan de pagos. Free 2012 state tax filing Llame al Centro de Ayuda del IRS para Contribuyentes local para pedir una cita. Free 2012 state tax filing Para obtener el número telefónico, visite el sitio web www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/localcontacts o consulte la guía telefónica bajo United States Government, Internal Revenue Service (Gobierno de los Estados Unidos, Servicio de Impuestos Internos). Free 2012 state tax filing Equipo TTY/TDD. Free 2012 state tax filing Las personas que son sordas, tienen problemas auditivos o quienes tienen incapacidades del habla y tienen acceso a equipo TTY/TDD, llame al 1-800-829-4059 para hacer preguntas relacionadas con los impuestos o para pedir formularios y publicaciones. Free 2012 state tax filing Temas TeleTax. Free 2012 state tax filing Llame al 1-800-829-4477 y presione el 2 para escuchar mensajes grabados en español sobre varios temas relacionados con los impuestos. Free 2012 state tax filing Información sobre los reembolsos. Free 2012 state tax filing Puede verificar el estado de su reembolso en la nueva aplicación del IRS para teléfonos móviles. Free 2012 state tax filing Descargue gratuitamente la aplicación IRS2Go visitando la tienda de aplicaciones de iTunes o la tienda para las aplicaciones para los teléfonos Android. Free 2012 state tax filing IRS2Go es una nueva manera en donde puede obtener información y recursos. Free 2012 state tax filing Para revisar el estado de su reembolso, llame al 1-800-829-4477 (información automatizada sobre reembolsos en español, 24 horas al día, 7 días a la semana). Free 2012 state tax filing Asegúrese de esperar por lo menos 72 horas después de que el IRS acuse recibo de su declaración presentada por vía electrónica o 3 a 4 semanas después de enviar una declaración en papel. Free 2012 state tax filing Si presentó el Formulario 8379 junto con su declaración, espere 14 semanas (11 semanas si la presentó electrónicamente). Free 2012 state tax filing Tenga a mano su declaración de impuestos para poder facilitar su número de Seguro Social, su estado civil para efectos de la declaración y la cantidad exacta en dólares enteros de su reembolso. Free 2012 state tax filing Los reembolsos se envían el viernes de cada semana. Free 2012 state tax filing Si comprueba el estado de su reembolso y no se le da una fecha de envío, espere a la siguiente semana para volver a comprobarlo. Free 2012 state tax filing Otra información sobre reembolsos. Free 2012 state tax filing Para revisar el estado de un reembolso de un año anterior o un reembolso de una declaración enmendada, llame al 1-800-829-1040. Free 2012 state tax filing Evaluación de la calidad de nuestros servicios telefónicos. Free 2012 state tax filing Para asegurar que las respuestas que reciba de los funcionarios del IRS sean correctas, corteses y profesionales, evaluamos la calidad de nuestros servicios telefónicos de diversas maneras. Free 2012 state tax filing Una manera es que un segundo funcionario del IRS escuche o grabe las llamadas telefónicas en el momento en que éstas se lleven a cabo. Free 2012 state tax filing Otra manera es pedirles a algunas de las personas que llaman que contesten una breve encuesta al final de la llamada. Free 2012 state tax filing Visitas en persona. Free 2012 state tax filing Muchos productos y servicios están disponibles en varios lugares sin la necesidad de tener cita previa. Free 2012 state tax filing   Productos. Free 2012 state tax filing Puede visitar diversas oficinas de correos, bibliotecas y oficinas del IRS para obtener ciertos formularios, instrucciones y publicaciones. Free 2012 state tax filing Algunas oficinas del IRS, bibliotecas, supermercados, centros para hacer copias, oficinas de gobiernos municipales y de condados, cooperativas de crédito y tiendas de artículos de oficina tienen una colección de productos que se pueden imprimir de un CD o fotocopiar del documento original impreso. Free 2012 state tax filing Además, algunas oficinas del IRS así como algunas bibliotecas tienen el Código de Impuestos Internos, reglamentos, Boletines del IRS y Boletines Cumulativos disponibles para la búsqueda de información. Free 2012 state tax filing Servicios. Free 2012 state tax filing Usted puede visitar su Taxpayer Assistance Center (Centro de Ayuda para el Contribuyente) local del IRS cada día laborable para recibir ayuda en persona con respecto a todo problema relacionado con los impuestos. Free 2012 state tax filing Un funcionario puede explicarle las cartas que le envía el IRS, le puede ayudar a hacer solicitudes para ajustar su cuenta tributaria o ayudarle a establecer un plan de pagos. Free 2012 state tax filing Si necesita resolver un problema relacionado con los impuestos, tiene preguntas sobre cómo las leyes tributarias son aplicables a su declaración de impuestos personal o se siente más a gusto hablando con alguien en persona, visite su Centro de Ayuda para el Contribuyente a nivel local donde podrá mostrar sus archivos y documentación y hablar con un funcionario del IRS en persona. Free 2012 state tax filing No se necesita cita, simplemente visite y haga su consulta. Free 2012 state tax filing Pero si prefiere, puede llamar a su centro local y dejar un mensaje solicitando una cita para resolver un asunto relacionado con su cuenta tributaria. Free 2012 state tax filing Un funcionario le llamará dentro de 2 días laborables para hacer una cita en persona con usted. Free 2012 state tax filing Si le queda por resolver algún problema complicado relacionado con los impuestos o si tiene alguna necesidad especial, como una discapacidad, puede solicitar una cita. Free 2012 state tax filing Los demás asuntos se tramitan sin necesidad de hacer una cita. Free 2012 state tax filing Para obtener el número telefónico de la oficina local, visite el sitio web www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/localcontacts o consulte la guía telefónica bajo United States Government, Internal Revenue Service (Gobierno de los Estados Unidos, Servicio de Impuestos Internos). Free 2012 state tax filing Correspondencia. Free 2012 state tax filing Puede solicitar formularios, instrucciones y publicaciones enviando una solicitud a la dirección que se proporciona a continuación y le contestaremos dentro de un período de 10 días después de haber recibido su solicitud. Free 2012 state tax filing  Internal Revenue Service 1201 N. Free 2012 state tax filing Mitsubishi Motorway Bloomington, IL 61705-6613 Servicio del Defensor del Contribuyente. Free 2012 state tax filing    El Servicio del Defensor del Contribuyente (TAS, por sus siglas en inglés) es su voz ante el IRS. Free 2012 state tax filing Nuestro trabajo es asegurarnos que cada contribuyente sea tratado de manera justa y que usted conozca y entienda sus derechos. Free 2012 state tax filing Nosotros ofrecemos ayuda gratuita para guiarle a través del proceso confuso de resolver problemas tributarios que usted no ha podido resolver por su cuenta. Free 2012 state tax filing Recuerde, lo peor que puede hacer es no hacer nada al respecto. Free 2012 state tax filing    TAS le puede ayudar si usted no puede resolver su problema con el IRS y: Su problema le está causando dificultades económicas a usted, a su familia o a su negocio. Free 2012 state tax filing Usted (o su negocio) está enfrentando una amenaza inmediata de alguna acción que se podría tomar en contra de usted. Free 2012 state tax filing Usted se ha tratado de comunicar con el IRS, pero nadie le ha respondido o el IRS no le ha respondido para la fecha prometida. Free 2012 state tax filing   Si usted reúne los requisitos para recibir nuestra ayuda, nosotros haremos todo lo que esté en nuestro poder para resolver su problema. Free 2012 state tax filing A usted se le asignará un defensor, quien estará con usted durante todo el proceso. Free 2012 state tax filing Tenemos oficinas en cada estado, el Distrito de Columbia y Puerto Rico. Free 2012 state tax filing Aunque TAS es una organización independiente dentro del IRS, nuestros defensores conocen cómo trabajar con el IRS para poder resolver sus problemas. Free 2012 state tax filing Y nuestros servicios siempre son gratuitos. Free 2012 state tax filing   Como contribuyente, usted tiene derechos. Free 2012 state tax filing El IRS tiene que cumplir con esos derechos al tratar con usted. Free 2012 state tax filing Nuestro conjunto de recursos en www. Free 2012 state tax filing TaxpayerAdvocate. Free 2012 state tax filing irs. Free 2012 state tax filing gov le puede ayudar a entender estos derechos. Free 2012 state tax filing   Si cree que TAS podría ayudarle, comuníquese con su defensor local, cuyo número telefónico se encuentra en su guía telefónica y en nuestro sitio web en www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/advocate. Free 2012 state tax filing Además, puede llamar a nuestro número telefónico libre de cargos, al 1-877-777-4778. Free 2012 state tax filing   Además, TAS también maneja problemas de gran escala y problemas sistémicos que afectan a muchos contribuyentes. Free 2012 state tax filing Si usted conoce acerca de alguno de estos asuntos, por favor, infórmelo a nuestra oficina a través del Systemic Advocacy Management System (Sistema de administración de la defensa sistémica), en inglés, en www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/advocate. Free 2012 state tax filing Talleres de Asistencia Tributaria para Contribuyentes de Bajos Recursos (LITC, por sus siglas en inglés). Free 2012 state tax filing   Los LITC son organizaciones independientes del IRS. Free 2012 state tax filing Algunos talleres le prestan servicios a personas cuyos ingresos están por debajo de ciertos niveles y necesitan resolver un asunto tributario. Free 2012 state tax filing Estos talleres proveen representación profesional ante el IRS o en los tribunales con asuntos como auditorías, apelaciones, litigios sobre el cobro de impuestos y otros asuntos de manera gratuita o por un cargo mínimo. Free 2012 state tax filing Además, algunos talleres pueden proveer información sobre los derechos y responsabilidades de los contribuyentes en muchos idiomas para las personas que hablan inglés como segunda lengua. Free 2012 state tax filing Si desea más información y para encontrar un taller que le quede cerca, vea la página dedicada a los LITC en www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/espanol, la cual se encuentra bajo el enlace “Defensor del Contribuyente” o vea la Publicación 4134(SP), Lista de Talleres para Contribuyentes de Bajos Ingresos (o la Publicación 4134, en inglés). Free 2012 state tax filing Puede obtener esta publicación llamando al 1-800-829-3676 o en su oficina local del IRS. Free 2012 state tax filing Servicios gratuitos para los impuestos. Free 2012 state tax filing   Para saber qué servicios están disponibles, obtenga la Publicación 910, IRS Guide to Free Tax Services (Guía de servicios gratuitos relacionados con los impuestos), en inglés. Free 2012 state tax filing Contiene una lista de recursos gratuitos relacionados con los impuestos, incluidas las publicaciones, y explica sobre servicios de educación tributaria y programas de ayuda. Free 2012 state tax filing Además, cuenta con un índice de más de 100 temas tributarios (TeleTax), o sea, información tributaria grabada que puede escuchar por teléfono. Free 2012 state tax filing La mayor parte de la información y los servicios identificados en esta publicación están disponibles a usted libre de cargos. Free 2012 state tax filing Si acaso tendría que incurrir en un cargo para obtener algún recurso o servicio, la publicación así lo indicaría. Free 2012 state tax filing   Para personas discapacitadas, se pueden solicitar versiones de productos publicados por el IRS en formatos alternativos. Free 2012 state tax filing Discos DVD para productos tributarios. Free 2012 state tax filing Usted puede solicitar la Publicación 1796, IRS Tax Products DVD (DVD de productos del IRS), en inglés, y obtener: Formularios, instrucciones y publicaciones de impuestos del año en curso. Free 2012 state tax filing Formularios, instrucciones y publicaciones de impuestos de años anteriores. Free 2012 state tax filing Tax Map (Mapa Tributario): una herramienta de búsqueda electrónica y de ayuda. Free 2012 state tax filing Preguntas sobre leyes tributarias hechas con frecuencia. Free 2012 state tax filing Tax Topics (Temas Tributarios) del sistema telefónico de respuesta del IRS. Free 2012 state tax filing Código de Impuestos Internos — Título 26 del Código de los Estados Unidos. Free 2012 state tax filing Enlaces a otros materiales tributarios para búsqueda en la Internet. Free 2012 state tax filing Opciones para completar, imprimir y guardar la mayoría de los formularios de impuestos. Free 2012 state tax filing Internal Revenue Bulletins (Boletines del IRS). Free 2012 state tax filing Apoyo técnico telefónico gratuito y por correo electrónico. Free 2012 state tax filing El CD que se expide dos veces al año. Free 2012 state tax filing  — La primera entrega se envía a principios de enero. Free 2012 state tax filing  — La última entrega se envía a principios de marzo. Free 2012 state tax filing Compre el DVD del National Technical Information Service (NTIS, por sus siglas en inglés) en la página web www. Free 2012 state tax filing irs. Free 2012 state tax filing gov/cdorders por $30 (sin costo de tramitación) o llame gratuitamente al 1-877-233-6767 para comprar el DVD por $30 (más un cargo de tramitación de $6). Free 2012 state tax filing This image is too large to be displayed in the current screen. Free 2012 state tax filing Please click the link to view the image. Free 2012 state tax filing Filled-In Form 8300-SP Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Published Guidance

Recent Published Guidance
Guidance published by IRS related to retirement plans.

Published Guidance by Topic (2010-current)
Index of retirement plan guidance by subject matter

Archive of Published Guidance
Retirement plan guidance by type - October 2000 to date

Interest Rates Tables
Monthly weighted-average interest rates

Actuarial Tables
Section 7520 tables for valuing annuities, life estates, remainders and reversions

Priority Guidance Plan
Information relating to the Priority Guidance Plan, including links to both the current and prior versions, and news or notices about the Plan.

Advance Releases
Text of revenue rulings, revenue procedures, and other technical items in advance of their Internal Revenue Bulletin publication date

Tax Code, Regulations and Official Guidance
The place to start for researching publicly accessible versions of the Internal Revenue Code, Treasury (Tax) Regulations, or other forms of official IRS tax guidance.

Key Legislative History Affecting Retirement Plans
Law and technical explanations of ACTs related to retirement plans

Page Last Reviewed or Updated: 28-Mar-2014

The Free 2012 State Tax Filing

Free 2012 state tax filing Internal Revenue Bulletin:  2009-36  September 8, 2009  Rev. Free 2012 state tax filing Proc. Free 2012 state tax filing 2009-37 Table of Contents SECTION 1. Free 2012 state tax filing PURPOSE SECTION 2. Free 2012 state tax filing BACKGROUND SECTION 3. Free 2012 state tax filing SCOPE SECTION 4. Free 2012 state tax filing ELECTION PROCEDURES SECTION 5. Free 2012 state tax filing REQUIRED INFORMATION STATEMENT SECTION 6. Free 2012 state tax filing EFFECTIVE DATE SECTION 7. Free 2012 state tax filing TRANSITION RULE SECTION 8. Free 2012 state tax filing PAPERWORK REDUCTION ACT DRAFTING INFORMATION SECTION 1. Free 2012 state tax filing PURPOSE . Free 2012 state tax filing 01 This revenue procedure provides the exclusive procedures for taxpayers to make an election to defer recognizing discharge of indebtedness income (“COD income”) under § 108(i) of the Internal Revenue Code. Free 2012 state tax filing . Free 2012 state tax filing 02 This revenue procedure also requires taxpayers making the § 108(i) election to provide additional information on returns beginning with the taxable year following the taxable year for which the taxpayer makes the election. Free 2012 state tax filing This revenue procedure describes the time and manner of providing this additional information. Free 2012 state tax filing . Free 2012 state tax filing 03 The Internal Revenue Service and Treasury Department intend to issue additional guidance under § 108(i) that may include regulations addressing matters in this revenue procedure. Free 2012 state tax filing Taxpayers should be aware that these regulations may be retroactive. Free 2012 state tax filing See § 7805(b)(2). Free 2012 state tax filing This revenue procedure may be modified to provide procedures consistent with additional guidance. Free 2012 state tax filing SECTION 2. Free 2012 state tax filing BACKGROUND . Free 2012 state tax filing 01 Section 108(i), Generally. Free 2012 state tax filing Section 108(i) was added to the Code by § 1231 of the American Recovery and Reinvestment Tax Act of 2009, Pub. Free 2012 state tax filing L. Free 2012 state tax filing No. Free 2012 state tax filing 111-5, 123 Stat. Free 2012 state tax filing 338. Free 2012 state tax filing In general, § 108(i) provides that, at the election of a taxpayer, COD income realized in connection with a reacquisition after December 31, 2008, and before January 1, 2011, of an applicable debt instrument is includible in gross income ratably over a 5-taxable-year inclusion period, beginning with the taxpayer’s fourth or fifth taxable year following the taxable year of the reacquisition. Free 2012 state tax filing Generally, if a taxpayer makes a § 108(i) election and reacquires (or is treated as reacquiring) the applicable debt instrument generating the COD income for a new debt instrument with original issue discount (“OID”), then interest deductions for this OID also are deferred, as provided in § 108(i)(2). Free 2012 state tax filing The OID deferral rule, however, does not apply if the amount of OID is less than a de minimis amount, as determined under § 1273(a)(3) and § 1. Free 2012 state tax filing 1273-1(d) of the Income Tax Regulations. Free 2012 state tax filing The OID deferral rule in § 108(i)(2) applies at the entity level for a pass-through entity. Free 2012 state tax filing For example, a partnership (and therefore its partners) may not deduct currently the OID described in § 108(i)(2)(A)(i). Free 2012 state tax filing A taxpayer must take into account any item of income or deduction deferred under § 108(i), and not previously taken into account, in the taxable year in which certain events occur (such as the liquidation of the taxpayer and upon other events specified in administrative guidance). Free 2012 state tax filing See § 108(i)(5)(D). Free 2012 state tax filing The rule regarding acceleration of deferred COD income and OID deductions also applies in the case of certain dispositions by persons holding ownership interests in pass-through entities. Free 2012 state tax filing Section 108(i)(5)(D)(ii). Free 2012 state tax filing For purposes of § 108(i), regulated investment companies (as defined in § 851(a)) and real estate investment trusts (as defined in § 856(a)) are not pass-through entities. Free 2012 state tax filing . Free 2012 state tax filing 02 Applicable Debt Instrument. Free 2012 state tax filing Section 108(i)(3)(A) defines the term “applicable debt instrument” to mean any debt instrument issued by a C corporation or by any other person in connection with the conduct of a trade or business by that person. Free 2012 state tax filing The term “debt instrument” means any bond, debenture, note, certificate, or any other instrument or contractual arrangement constituting indebtedness within the meaning of § 1275(a)(1). Free 2012 state tax filing Section 108(i)(3)(B). Free 2012 state tax filing For purposes of § 108(i), in the case of an intercompany obligation (as defined in § 1. Free 2012 state tax filing 1502-13(g)(2)(ii)), an applicable debt instrument includes only an instrument for which COD income is realized upon the instrument’s deemed satisfaction under § 1. Free 2012 state tax filing 1502-13(g)(5). Free 2012 state tax filing . Free 2012 state tax filing 03 Reacquisition. Free 2012 state tax filing Section 108(i)(4)(A) defines the term “reacquisition” to mean, with respect to any applicable debt instrument, any acquisition of the debt instrument by the debtor that issued (or is otherwise the obligor under) the debt instrument, or a person related to the debtor under § 108(e)(4). Free 2012 state tax filing The term “acquisition” includes an acquisition of the debt instrument for cash or other property, the exchange of the debt instrument for another debt instrument (including an exchange resulting from a modification of the debt instrument), the exchange of the debt instrument for corporate stock or a partnership interest, the contribution of the debt instrument to capital, and the complete forgiveness of the indebtedness by the holder of the debt instrument. Free 2012 state tax filing See § 108(i)(4)(B). Free 2012 state tax filing The term “acquisition” also includes an indirect acquisition within the meaning of § 1. Free 2012 state tax filing 108-2(c) if a direct acquisition of the debt instrument would qualify for an election under § 108(i). Free 2012 state tax filing For example, if a corporation acquires debt of a partnership that the partnership issued in connection with its trade or business, and the partnership and corporation become related within six months of the corporation’s acquisition of the debt, the indirect acquisition is an acquisition for which an election under § 108(i) may be made. Free 2012 state tax filing . Free 2012 state tax filing 04 General Requirements for the Section 108(i) Election. Free 2012 state tax filing Section 108(i)(5)(B) provides, in general, that a taxpayer makes the § 108(i) election by including a statement that clearly identifies the applicable debt instrument with the return of tax imposed for the taxable year in which the reacquisition of the instrument occurs. Free 2012 state tax filing (For purposes of this revenue procedure, a return of tax or income tax return includes an information return, and a taxpayer includes a person that files an information return. Free 2012 state tax filing ) The statement must include the amount of income to which § 108(i)(1) applies and other information the Service may prescribe. Free 2012 state tax filing Once made, a § 108(i) election is irrevocable and, except as provided in section 7 of this revenue procedure, may not be modified. Free 2012 state tax filing . Free 2012 state tax filing 05 Section 108(i) Elections Made by Pass-through Entities. Free 2012 state tax filing In the case of COD income realized by a pass-through entity from the reacquisition of an applicable debt instrument, the pass-through entity makes the § 108(i) election. Free 2012 state tax filing Section 108(i)(5)(B)(iii). Free 2012 state tax filing . Free 2012 state tax filing 06 Additional Information on Subsequent Years’ Returns. Free 2012 state tax filing Section 108(i)(7) authorizes the Service to issue guidance necessary or appropriate for applying § 108(i), including requiring reporting the election and other information on returns of tax for subsequent taxable years. Free 2012 state tax filing . Free 2012 state tax filing 07 Exclusivity. Free 2012 state tax filing Section 108(i)(5)(C) provides that if a taxpayer elects to apply § 108(i) to an applicable debt instrument, § 108(a)(1)(A), (B), (C), and (D) do not apply to COD income deferred under § 108(i). Free 2012 state tax filing . Free 2012 state tax filing 08 Allocation of Deferred COD Income on Partnership Indebtedness. Free 2012 state tax filing Section 4. Free 2012 state tax filing 04(3) of this revenue procedure describes how a partnership may elect under § 108(i) to defer a portion of the COD income realized from the reacquisition of an applicable debt instrument. Free 2012 state tax filing If a partnership elects to defer all or any portion of COD income realized from the reacquisition of an applicable debt instrument, all of the COD income with respect to that debt instrument, without regard to § 108(i), is allocated to the partners in the partnership immediately before the reacquisition in the manner in which the income would be included in the distributive shares of these partners under § 704 and the regulations thereunder, including § 1. Free 2012 state tax filing 704-1(b)(2)(iii). Free 2012 state tax filing Each partner’s share of this COD income is the partner’s COD income amount (“COD income amount”). Free 2012 state tax filing The partner’s COD income amount that is deferred under § 108(i) is the partner’s deferred amount (“deferred amount”). Free 2012 state tax filing The partner’s COD income amount that is not deferred and is included in the partner’s distributive share of partnership income for the taxable year of the partnership in which the reacquisition occurs is the partner’s included amount (“included amount”). Free 2012 state tax filing . Free 2012 state tax filing 09 Partner’s Deferred § 752 Amount. Free 2012 state tax filing A decrease in a partner’s share of a partnership liability resulting from the reacquisition of an applicable debt instrument that is not treated as a current distribution of money to the partner under § 752 by reason of § 108(i)(6) is the partner’s deferred § 752 amount (“deferred § 752 amount”). Free 2012 state tax filing A partner’s deferred § 752 amount may not exceed the lesser of (i) the partner’s deferred amount or (ii) gain that the partner would recognize in the year of reacquisition under § 731 as a result of the reacquisition absent § 108(i)(6). Free 2012 state tax filing To determine the amount of gain the partner would recognize under clause (ii) of the preceding sentence, the amount of any deemed distribution of money under § 752(b) resulting from the decrease in the partner’s share of a reacquired applicable debt instrument that is treated as an advance or draw of money under § 1. Free 2012 state tax filing 731-1(a)(1)(ii) is determined as if no COD income resulting from the reacquisition of the applicable debt instrument is deferred under § 108(i). Free 2012 state tax filing See Rev. Free 2012 state tax filing Rul. Free 2012 state tax filing 92-97, 1992-2 C. Free 2012 state tax filing B. Free 2012 state tax filing 124, and Rev. Free 2012 state tax filing Rul. Free 2012 state tax filing 94-4, 1994-1 C. Free 2012 state tax filing B. Free 2012 state tax filing 195. Free 2012 state tax filing A partner’s deferred § 752 amount is treated as a distribution of money to the partner under § 752 at the same time, and to the extent remaining in the same amount, as the partner recognizes the COD income deferred under § 108(i). Free 2012 state tax filing . Free 2012 state tax filing 10 Allocation of Deferred COD Income on S Corporation Indebtedness. Free 2012 state tax filing For purposes of § 108(i), an S corporation’s COD income deferred under § 108(i) is shared pro rata only among those shareholders that are shareholders of the S corporation immediately before the reacquisition transaction. Free 2012 state tax filing . Free 2012 state tax filing 11 Deferred COD Income, Earnings and Profits, and Alternative Minimum Taxable Income. Free 2012 state tax filing (1) In general. Free 2012 state tax filing The Service and Treasury Department intend to issue regulations regarding the computation of a corporation’s earnings and profits with respect to COD income and OID deductions that are deferred under § 108(i). Free 2012 state tax filing These regulations generally will provide that deferred COD income increases earnings and profits in the taxable year that it is realized and not in the taxable year or years that the deferred COD income is includible in gross income. Free 2012 state tax filing OID deductions deferred under § 108(i) generally will decrease earnings and profits in the taxable year or years in which the deduction would be allowed without regard to § 108(i). Free 2012 state tax filing COD income and OID deductions that are deferred increase or decrease adjusted current earnings under § 56(g)(4) in the taxable year or years that the income or deduction is includible or deductible in determining taxable income. Free 2012 state tax filing See § 1. Free 2012 state tax filing 56(g)-1(c)(1). Free 2012 state tax filing (2) Exceptions for certain special status corporations. Free 2012 state tax filing The Service and Treasury Department intend to issue regulations providing that in the case of regulated investment companies and real estate investment trusts, COD income deferred under § 108(i) generally increases earnings and profits in the taxable year or years in which the deferred COD income is includible in gross income and not in the year that the deferred COD income is realized. Free 2012 state tax filing OID deductions deferred under § 108(i) generally decrease earnings and profits in the taxable year or years that the deferred OID deductions are deductible. Free 2012 state tax filing . Free 2012 state tax filing 12 Extension of Time to Make Election. Free 2012 state tax filing Under § 301. Free 2012 state tax filing 9100-1 of the Procedure and Administration Regulations, the Service may grant an extension of time to make a regulatory election. Free 2012 state tax filing An election is a regulatory election if the due date is prescribed by regulation or other published guidance of general applicability. Free 2012 state tax filing Section 301. Free 2012 state tax filing 9100-2(a) provides an automatic 12-month extension from the due date for making certain regulatory elections. Free 2012 state tax filing SECTION 3. Free 2012 state tax filing SCOPE This revenue procedure applies to taxpayers that realize COD income from a reacquisition after December 31, 2008, and before January 1, 2011, of an applicable debt instrument, as provided in § 108(i). Free 2012 state tax filing SECTION 4. Free 2012 state tax filing ELECTION PROCEDURES . Free 2012 state tax filing 01 In General. Free 2012 state tax filing (1) A taxpayer within the scope of this revenue procedure makes the § 108(i) election by— (a) Attaching a statement meeting the requirements of section 4. Free 2012 state tax filing 05 of this revenue procedure to the taxpayer’s timely filed (including extensions) original federal income tax return for the taxable year in which the reacquisition of the applicable debt instrument occurs, and (b) If applicable, satisfying the additional requirements of section 4. Free 2012 state tax filing 07, 4. Free 2012 state tax filing 08, 4. Free 2012 state tax filing 09, or 4. Free 2012 state tax filing 10 of this revenue procedure. Free 2012 state tax filing (2) The Service grants an automatic extension of 12 months from the due date prescribed in section 4. Free 2012 state tax filing 01(1)(a) of this revenue procedure for making the § 108(i) election. Free 2012 state tax filing The rules that apply to an automatic extension under § 301. Free 2012 state tax filing 9100-2(a) apply to this automatic extension. Free 2012 state tax filing . Free 2012 state tax filing 02 Section 108(i) Elections Made by Members of Consolidated Groups. Free 2012 state tax filing The common parent of a consolidated group makes the § 108(i) election on behalf of all members of the group. Free 2012 state tax filing See § 1. Free 2012 state tax filing 1502-77(a). Free 2012 state tax filing . Free 2012 state tax filing 03 Aggregation Rule. Free 2012 state tax filing A taxpayer within the scope of this revenue procedure may treat two or more applicable debt instruments that are part of the same issue and that are reacquired during the same taxable year as one applicable debt instrument for purposes of this revenue procedure. Free 2012 state tax filing A pass-through entity may not treat two or more applicable debt instruments as one applicable debt instrument under this section 4. Free 2012 state tax filing 03 if the owners and their ownership interests in the pass-through entity immediately prior to the reacquisition of each applicable debt instrument are not identical. Free 2012 state tax filing . Free 2012 state tax filing 04 Partial Elections. Free 2012 state tax filing (1) A taxpayer within the scope of this revenue procedure may make an election for any portion of COD income realized from the reacquisition of any applicable debt instrument. Free 2012 state tax filing Thus, for example, if a taxpayer realizes $100 of COD income from the reacquisition of an applicable debt instrument, the taxpayer may elect under § 108(i)(1) to defer only $40 of the $100 of COD income. Free 2012 state tax filing The taxpayer may exclude from income the portion of COD income that the taxpayer does not elect to defer under § 108(i) ($60 in this example) under § 108(a)(1)(A), (B), (C), or (D), if applicable. Free 2012 state tax filing (2) A taxpayer is not required to make an election for the same portion of COD income arising from each applicable debt instrument that it reacquires, but may make an election for different portions of COD income arising from different applicable debt instruments (whether or not part of the same issue). Free 2012 state tax filing Thus, for example, if a taxpayer realizes $100 of COD income from the reacquisition of an applicable debt instrument (Instrument A) and $100 of COD income from the reacquisition of a different applicable debt instrument (Instrument B), the taxpayer may elect to defer all or a portion of the COD income associated with Instrument A and none or a different portion of the COD income associated with Instrument B. Free 2012 state tax filing (3) A partnership that elects to defer less than all of the COD income realized from the reacquisition of an applicable debt instrument may determine, in any manner, the portion, if any, of a partner’s COD income amount that is the partner’s deferred amount and the portion, if any, of a partner’s COD income amount that is the partner’s included amount. Free 2012 state tax filing Thus, for example, one partner’s deferred amount may be zero while another partner’s deferred amount may equal that partner’s COD income amount (or any portion thereof). Free 2012 state tax filing A partner may exclude from income the partner’s included amount under § 108(a)(1)(A), (B), (C), or (D), if applicable. Free 2012 state tax filing The provisions of this section 4. Free 2012 state tax filing 04(3) apply for purposes of § 108(i) only and are not intended as an interpretation of or a change to existing law under § 704. Free 2012 state tax filing . Free 2012 state tax filing 05 Contents of Election Statement. Free 2012 state tax filing A statement meets the requirements of this section 4. Free 2012 state tax filing 05 if the statement— (1) Label. Free 2012 state tax filing States “Section 108(i) Election” across the top. Free 2012 state tax filing (2) Required information. Free 2012 state tax filing Provides, for each applicable debt instrument the reacquisition of which generates COD income that the taxpayer is electing to defer under § 108(i)— (a) The name and taxpayer identification numbers, if any, of the issuer or issuers of the applicable debt instrument; (b) A general description of the applicable debt instrument (including the issue and maturity dates) and, in the case of any person other than a C corporation, a general description of the person’s trade or business to which the applicable debt instrument is connected; (c) A general description of the reacquisition transaction or transactions generating the COD income (including the date(s) of the transaction(s)); (d) The total amount of COD income for the applicable debt instrument that results from the reacquisition (in the case of a partnership, the aggregate of the partners’ COD income amounts) and a general description of the manner in which this amount is calculated; (e) The amount of COD income for the applicable debt instrument that the taxpayer is electing to defer under § 108(i); (f) In the case of a partnership, a list of partners that have a deferred amount, their identifying information and each partner’s deferred amount; and in the case of an S corporation, a list of shareholders with COD income deferred under § 108(i), their identifying information and each shareholder’s share of the S corporation’s deferred COD income; and (g) In cases in which a new debt instrument is issued or deemed issued in exchange for the applicable debt instrument (including exchanges under § 108(e)(4), § 108(i)(2)(B), and § 1. Free 2012 state tax filing 1001-3), the issuer’s name, the issuer’s taxpayer identification number, if any, a general description of the new debt instrument and whether the new debt instrument has OID, and if the new debt instrument has OID, a schedule of the OID that the issuer expects to accrue each taxable year on the instrument and the amount of OID that the issuer expects to defer under § 108(i)(2) each taxable year. Free 2012 state tax filing . Free 2012 state tax filing 06 Supplemental information. Free 2012 state tax filing The statement described in section 4. Free 2012 state tax filing 05 of this revenue procedure may specify for each applicable debt instrument an amount greater than the amount identified in section 4. Free 2012 state tax filing 05(2)(e) of this revenue procedure that the taxpayer elects to defer under § 108(i) in the event the Service subsequently concludes that the taxpayer understated the amount of COD income described in section 4. Free 2012 state tax filing 05(2)(d) of this revenue procedure. Free 2012 state tax filing This additional amount of COD income the taxpayer elects to defer may be described as the entire additional COD income, or as a percentage of any additional COD income. Free 2012 state tax filing If the taxpayer is a partnership, the partnership must specify each partner’s share of the partnership’s additional COD income that would be deferred (the partner’s additional deferred amount), which the partnership may describe for each partner as the partner’s entire share of the partnership’s additional COD income or as a percentage of the partner’s share of the partnership’s additional COD income. Free 2012 state tax filing If the taxpayer is an S corporation, the S corporation must specify each shareholder’s share of the S corporation’s additional COD income that would be deferred, which the S corporation may describe for each shareholder as the shareholder’s entire share of the S corporation’s additional COD income or as a percentage of the shareholder’s share of the S corporation’s additional COD income. Free 2012 state tax filing In the case of partnerships and S corporations, the additional COD income and the portion of additional COD income that would be deferred are allocated or determined as provided in sections 2. Free 2012 state tax filing 08, 2. Free 2012 state tax filing 10 and, if applicable, 4. Free 2012 state tax filing 04(3) of this revenue procedure, respectively, as if the additional COD income was realized. Free 2012 state tax filing . Free 2012 state tax filing 07 Additional Requirements for Certain Partnerships Making a § 108(i) Election. Free 2012 state tax filing The rules of this section 4. Free 2012 state tax filing 07 apply to partnerships other than partnerships described in section 4. Free 2012 state tax filing 10 of this revenue procedure. Free 2012 state tax filing (1) Information filing on Schedule K-1 (Form 1065 and Form 1065-B). Free 2012 state tax filing For the taxable year in which the § 108(i) election is made, the partnership must report on the Schedule K-1 (Form 1065 or Form 1065-B), Partner’s Share of Income, Deductions, Credits, etc. Free 2012 state tax filing , in the manner specified in the instructions to the forms, for each partner § 108(i) information on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made. Free 2012 state tax filing Partnerships reporting § 108(i) information on the 2008 Schedule K-1 (Form 1065 or Form 1065-B) must report for each partner on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made: (a) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(1) or § 108(i)(5)(D)(i) or (ii), in box 11 (“other income”) using code F for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (b) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii) or § 108(i)(5)(D)(i) or (ii), in box 13 (“other deductions”) using code W for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (c) The partner’s deferred amount that has not been included in income in the current or prior taxable years, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (d) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (e) The partner’s deferred § 752 amount that is treated as a distribution of money to the partner under § 752 in the current taxable year, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); and (f) The partner’s deferred § 752 amount remaining as of the end of the current taxable year, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B). Free 2012 state tax filing (2) Election information statement provided to partners. Free 2012 state tax filing The partnership must attach to the Schedule K-1 (Form 1065 or Form 1065-B) provided to each partner for the taxable year in which the § 108(i) election is made a statement satisfying the requirements of this section 4. Free 2012 state tax filing 07(2). Free 2012 state tax filing The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner must retain that partner’s statement, in their respective books and records. Free 2012 state tax filing A statement meets the requirements of this section 4. Free 2012 state tax filing 07(2) if the statement— (a) Label. Free 2012 state tax filing States “Section 108(i) Election Information Statement for Partners” across the top. Free 2012 state tax filing (b) Required information. Free 2012 state tax filing Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies— (i) The partner’s COD income amount, the partner’s deferred amount, and the partner’s included amount; (ii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (iv) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); (v) The partner’s share of each liability of the partnership described in section 4. Free 2012 state tax filing 05(2)(g) of this revenue procedure; (vi) The partner’s share of the decrease in the partnership liability that results from the reacquisition of the applicable debt instrument; (vii) The partner’s share of the decrease in the partnership liability that results from the reacquisition of the applicable debt instrument that is treated as a distribution of money to the partner under § 752 in the current taxable year; (viii) The partner’s deferred § 752 amount as described in section 2. Free 2012 state tax filing 09 of this revenue procedure; (ix) The partner’s additional deferred amount as described in section 4. Free 2012 state tax filing 06 of this revenue procedure; and (x) The date of the reacquisition transaction generating the COD income. Free 2012 state tax filing (c) If a partner fails to provide the written statement required by section 4. Free 2012 state tax filing 07(3) of this revenue procedure, the partnership must indicate that the amounts described in section 4. Free 2012 state tax filing 07(2)(b)(vii) and (viii) of this revenue procedure cannot be calculated because the partner did not provide the information necessary to report these amounts. Free 2012 state tax filing (3) Partner reporting requirements. Free 2012 state tax filing The partnership must make reasonable efforts prior to making a § 108(i) election to secure from each partner with a deferred amount for which it does not have the information necessary to compute the partner’s basis in its partnership interest (and its deferred § 752 amount as described in section 2. Free 2012 state tax filing 09 of this revenue procedure) a written statement signed under penalties of perjury that includes this information. Free 2012 state tax filing Each partner with a deferred amount must provide this written statement to the partnership within 30 days of the date of request by the partnership. Free 2012 state tax filing A partner’s failure to comply with this reporting requirement does not invalidate the partnership’s election under § 108(i) for an applicable debt instrument only if the partnership makes reasonable efforts before making the § 108(i) election to obtain the written statement from the partner and otherwise complies with the requirements of section 4 of this revenue procedure. Free 2012 state tax filing If a partner provides its written statement under this section 4. Free 2012 state tax filing 07(3) after the partnership has provided to the partner the Section 108(i) Election Information Statement for Partners, the partnership must provide to the partner a revised Section 108(i) Election Information Statement for Partners reporting the information required under section 4. Free 2012 state tax filing 07(2)(b)(vii) and (viii) of this revenue procedure and report the partner’s deferred § 752 amount on the partner’s Schedule K-1 (Form 1065 or Form 1065-B) in subsequent taxable years. Free 2012 state tax filing . Free 2012 state tax filing 08 Additional Requirements for an S Corporation Making a § 108(i) Election. Free 2012 state tax filing (1) Information filing on Schedule K-1 (Form 1120S). Free 2012 state tax filing For the taxable year in which the § 108(i) election is made, the S corporation must report on the Schedule K-1 (Form 1120S), Shareholder’s Share of Income, Deductions, Credits, etc. Free 2012 state tax filing , in the manner specified in the instructions to the forms, for each shareholder § 108(i) information on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made. Free 2012 state tax filing S corporations reporting § 108(i) information on the 2008 Schedule K-1 (Form 1120S) must report for each shareholder, on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made, the shareholder’s share of the S corporation’s: (a) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(1) or § 108(i)(5)(D)(i) or (ii), in box 10 (“other income”) using code E; (b) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii), or § 108(i)(5)(D)(i) or (ii), in box 12 (“other deductions”) using code S; (c) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years, in box 17 (“other information”) using code T; and (d) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years, in box 17 (“other information”) using code T. Free 2012 state tax filing (2) Election information statement provided to shareholders. Free 2012 state tax filing The S corporation must attach to the Schedule K-1 (Form 1120S) provided to each shareholder for the taxable year in which the § 108(i) election is made, a statement satisfying the requirements of this section 4. Free 2012 state tax filing 08(2). Free 2012 state tax filing The S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each shareholder must retain that shareholder’s statement, in their respective books and records. Free 2012 state tax filing A statement meets the requirements of this section 4. Free 2012 state tax filing 08(2) if the statement— (a) Label. Free 2012 state tax filing States “Section 108(i) Election Information Statement for Shareholders” across the top. Free 2012 state tax filing (b) Required information. Free 2012 state tax filing Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies, the shareholder’s share of the S corporation’s— (i) COD income that the S corporation elects to defer under § 108(i); (ii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iii) OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (iv) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); and (v) Additional COD income that would be deferred as described in section 4. Free 2012 state tax filing 06 of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 09 Section 108(i) Elections Made on Behalf of Certain Foreign Corporations. Free 2012 state tax filing The controlling domestic shareholder(s) (or common parent of the controlling domestic shareholder(s), if applicable) of a controlled foreign corporation or a noncontrolled § 902 corporation not otherwise required to file a return of tax may make the § 108(i) election on behalf of the foreign corporation by satisfying the requirements of § 1. Free 2012 state tax filing 964-1(c)(3). Free 2012 state tax filing Each controlling domestic shareholder must attach a statement identifying the foreign corporation and satisfying the requirements of section 4. Free 2012 state tax filing 05 of this revenue procedure and, if applicable, section 4. Free 2012 state tax filing 06 of this revenue procedure, to its federal income tax return for the taxable year ending within or with the taxable year of the foreign corporation for which the § 108(i) election is made. Free 2012 state tax filing . Free 2012 state tax filing 10 Section 108(i) Elections Made By Certain Foreign Partnerships. Free 2012 state tax filing The rules of this section 4. Free 2012 state tax filing 10 apply to a foreign partnership making a § 108(i) election that is not otherwise required to file a federal partnership return (“nonfiling foreign partnership”). Free 2012 state tax filing See § 1. Free 2012 state tax filing 6031(a)-1(b). Free 2012 state tax filing (1) A nonfiling foreign partnership making the election must attach a statement satisfying the requirements of section 4. Free 2012 state tax filing 05 of this revenue procedure and, if applicable, section 4. Free 2012 state tax filing 06 of this revenue procedure, to a partnership return satisfying the requirements of § 1. Free 2012 state tax filing 6031(a)-1(b)(5) it files with the Service. Free 2012 state tax filing In addition, a nonfiling foreign partnership must include in the information required in section 4. Free 2012 state tax filing 05(2)(d) and (e) of this revenue procedure the aggregate amounts for all partners as well as the aggregate amounts for all U. Free 2012 state tax filing S. Free 2012 state tax filing persons (as defined in § 7701(a)(30)) and controlled foreign corporation(s) that are partners with deferred amounts in the nonfiling foreign partnership (“affected partners”). Free 2012 state tax filing (2) The nonfiling foreign partnership must make the election, in accordance with § 1. Free 2012 state tax filing 6031(a)-1(b)(5), by the date provided in section 4. Free 2012 state tax filing 01(1)(a) of this revenue procedure, as if it had a filing obligation for the taxable year in which the reacquisition of the applicable debt instrument occurs. Free 2012 state tax filing (3) For each affected partner, the partnership must file with the Service a Schedule K-1 (Form 1065) and report on the Schedule K-1 (Form 1065) for the affected partner as provided in section 4. Free 2012 state tax filing 07(1) of this revenue procedure. Free 2012 state tax filing Except for this § 108(i) information, the partnership need not complete Part III of the Schedule K-1 (Form 1065). Free 2012 state tax filing The partnership must provide a copy of the respective Schedule K-1 (Form 1065) to each affected partner and must also attach to the Schedule K-1 (Form 1065) provided to each affected partner a statement satisfying the requirements of section 4. Free 2012 state tax filing 07(2) of this revenue procedure by the date provided in section 4. Free 2012 state tax filing 01(1)(a) of this revenue procedure. Free 2012 state tax filing The partnership should not attach any statement described in section 4. Free 2012 state tax filing 07(2) of this revenue procedure to the Schedules K-1 that are filed with the Service. Free 2012 state tax filing However, the partnership must retain the statements provided to the affected partners, and each affected partner must retain that partner’s statement, in their respective books and records. Free 2012 state tax filing (4) The partnership and each affected partner must satisfy the requirements of section 4. Free 2012 state tax filing 07(3) of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 11 Protective § 108(i) Election. Free 2012 state tax filing (1) In general. Free 2012 state tax filing A taxpayer may make a protective election under § 108(i) for an applicable debt instrument if the taxpayer concludes that a particular transaction does not result in the realization of COD income, reports the transaction on its federal income tax return in a manner consistent with the taxpayer’s conclusion, and would be within the scope of this revenue procedure if the taxpayer’s conclusion were incorrect. Free 2012 state tax filing If the Service at any time determines the taxpayer’s conclusion that the particular transaction does not result in the realization of COD income is incorrect, the taxpayer’s protective election is treated as a valid, irrevocable election under § 108(i). Free 2012 state tax filing Thus, if a taxpayer makes a protective election, the Service subsequently may require the taxpayer to report COD income deferred pursuant to the valid and irrevocable protective election even if the statute of limitations has expired for the year in which the COD income was realized and the protective election was made. Free 2012 state tax filing A taxpayer makes a protective election by attaching a statement satisfying the requirements of this section 4. Free 2012 state tax filing 11(1) to the taxpayer’s original federal income tax return within the period described in section 4. Free 2012 state tax filing 01(1)(a) of this revenue procedure. Free 2012 state tax filing The taxpayer also must attach the election to its federal income tax return in each of the 8 or 9 taxable years, as applicable, following the taxable year of the election. Free 2012 state tax filing A statement meets the requirements of this section 4. Free 2012 state tax filing 11(1) if the statement— (a) States “Section 108(i) Protective Election” across the top; (b) Provides the information required under section 4. Free 2012 state tax filing 05(2)(a), (b), and (c) of this revenue procedure; (c) Provides that the amounts described in sections 4. Free 2012 state tax filing 05(2)(d) and (e) of this revenue procedure are zero; and (d) Provides the information described in section 4. Free 2012 state tax filing 06 of this revenue procedure. Free 2012 state tax filing (2) Statements provided to shareholders and partners. Free 2012 state tax filing (a) For each applicable debt instrument, a partnership or S corporation that makes a protective election must attach to the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) it provides each of its partners or shareholders, as the case may be, for the taxable year in which the protective election is made a statement containing the information described in section 4. Free 2012 state tax filing 11(1)(b) of this revenue procedure (an S corporation need not provide its shareholders with the date(s) of the transaction(s) that would constitute the reacquisition transaction or transactions) and the partner’s or shareholder’s share of the additional COD income that would be deferred as described in section 4. Free 2012 state tax filing 11(1)(d) of this revenue procedure. Free 2012 state tax filing (b) The partnership or S corporation should not attach the statements described in this section 4. Free 2012 state tax filing 11(2) to the Schedules K-1 that are filed with the Service but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Free 2012 state tax filing . Free 2012 state tax filing 12 Election-Year Reporting by Tiered Pass-Through Entities. Free 2012 state tax filing (1) A partnership required to file a U. Free 2012 state tax filing S. Free 2012 state tax filing partnership return other than under § 1. Free 2012 state tax filing 6031(a)-1(b)(5), or an S corporation, that receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting its share of any items listed in section 4. Free 2012 state tax filing 07(1) of this revenue procedure, must report on the Schedules K-1 (Form 1065, Form 1065-B, or Form 1120S) to its partners or shareholders, as the case may be, each partner’s or shareholder’s share of those items (an S corporation only reports to its shareholders the items described in section 4. Free 2012 state tax filing 07(1)(a) through (d) of this revenue procedure). Free 2012 state tax filing (2) If a partnership described in section 4. Free 2012 state tax filing 12(1) of this revenue procedure receives a statement described in sections 4. Free 2012 state tax filing 07(2) or 4. Free 2012 state tax filing 10(3) of this revenue procedure or this section 4. Free 2012 state tax filing 12(2), it must provide each of its partners a statement containing the partner’s share of each of the items listed on each statement received by the partnership, including the information described in section 4. Free 2012 state tax filing 07(2)(b)(x) of this revenue procedure. Free 2012 state tax filing If an S corporation receives a statement described in sections 4. Free 2012 state tax filing 07(2) or 4. Free 2012 state tax filing 10(3) of this revenue procedure or this section 4. Free 2012 state tax filing 12(2), it must provide each of its shareholders a statement containing the shareholder’s share of each of the items listed on each statement received by the S corporation that are described in section 4. Free 2012 state tax filing 07(2)(b)(i), (ii), (iii), (iv) and (ix) of this revenue procedure. Free 2012 state tax filing The partnership or S corporation must attach this statement or statements to the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) that it provides to each of its partners or shareholders, as the case may be, for the taxable year of the partnership or S corporation. Free 2012 state tax filing The partnership or S corporation should not attach these statements to the Schedules K-1 that are filed with the Service but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Free 2012 state tax filing (3) A partnership that receives a statement described in this section 4 identifying its COD income amount with respect to an applicable debt instrument must allocate its COD income amount, without regard to § 108(i), to the partners in the partnership immediately before the reacquisition transaction in the manner in which the income would be included in the distributive shares of these partners under § 704 and the regulations thereunder, including § 1. Free 2012 state tax filing 704-1(b)(2)(iii). Free 2012 state tax filing The partnership may determine in any manner the portion, if any, of a partner’s COD income amount that is the partner’s deferred amount and the portion, if any, of a partner’s COD income amount that is the partner’s included amount. Free 2012 state tax filing No partner’s deferred amount with respect to an applicable debt instrument may exceed its COD income amount with respect to the applicable debt instrument, and the aggregate of deferred amounts of its partners with respect to an applicable debt instrument must equal the partnership’s deferred amount with respect to the applicable debt instrument. Free 2012 state tax filing The partnership allocates amounts described in section 4. Free 2012 state tax filing 06 of this revenue procedure under this section 4. Free 2012 state tax filing 12(3) as if the additional COD income was realized. Free 2012 state tax filing (4) The deferred § 752 amount for partners in a partnership making a § 108(i) election is calculated only for the partnership’s direct partners. Free 2012 state tax filing No further adjustment to the deferred § 752 amount is made to reflect the basis or other attributes of partners that are indirect partners in the partnership. Free 2012 state tax filing (5) If an S corporation receives a statement described in this section 4 identifying its COD income amount, deferred amount, included amount or additional COD income that would be deferred with respect to an applicable debt instrument, these amounts are shared pro rata only among those shareholders that are shareholders in the S corporation immediately before the reacquisition transaction. Free 2012 state tax filing (6) This paragraph 4. Free 2012 state tax filing 12(6) provides the rules for Category 1 and Category 2 filers of Form 8865, Return of U. Free 2012 state tax filing S. Free 2012 state tax filing Persons With Respect to Certain Foreign Partnerships, as defined in the instructions for Form 8865, if the foreign partnership, for which the Category 1 or Category 2 filer has a filing requirement, receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting the partnership’s share of any items listed in section 4. Free 2012 state tax filing 07(1) of this revenue procedure, or a statement described in sections 4. Free 2012 state tax filing 07(2) or 4. Free 2012 state tax filing 10(3) of this revenue procedure (because the foreign partnership owns an interest directly or indirectly in another partnership in which an election was made under § 108(i) with respect to that foreign partnership’s distributive share from the other entity). Free 2012 state tax filing (a) For each partner for whom the Category 1 filer is required to complete a Schedule K-1 (Form 8865) (which includes the Category 1 filer itself), the Category 1 filer must: (i) Include the information described in section 4. Free 2012 state tax filing 07(1) of this revenue procedure in the Schedule K-1 (Form 8865) that the Category 1 filer files with the Service and completes for the partner; (ii) Produce a statement containing the partner’s share of the items listed on each statement received by the partnership; and (iii) Attach the statement described in section 4. Free 2012 state tax filing 12(6)(a)(ii) of this revenue procedure to each Schedule K-1 (Form 8865) that it is required to provide to a partner of the foreign partnership. Free 2012 state tax filing (b) A Category 2 filer must include its share of the information described in section 4. Free 2012 state tax filing 07(1) on the Schedule K-1 (Form 8865) that it is required to complete. Free 2012 state tax filing Category 2 filers also must complete a statement containing their share of the items listed on each statement received by the partnership. Free 2012 state tax filing (c) The Category 1 and Category 2 filers should not attach the statements described in sections 4. Free 2012 state tax filing 12(6)(a)(ii) and 4. Free 2012 state tax filing 12(6)(b) of this revenue procedure, respectively, to the Schedules K-1 that are filed with the Service. Free 2012 state tax filing However, Category 1 filers must retain the statements they complete and each partner must retain its own statement, in their respective books and records. Free 2012 state tax filing (7) If as a result of § 108(i)(5)(D)(ii), a partner of a partnership described in section 4. Free 2012 state tax filing 12(1) of this revenue procedure or a shareholder of an S corporation described in section 4. Free 2012 state tax filing 12(1) of this revenue procedure must recognize items deferred under § 108(i), the partnership or S corporation must report these items on the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) and statements provided to the partner or shareholder pursuant to section 4. Free 2012 state tax filing 12(1) and (2) of this revenue procedure. Free 2012 state tax filing Similar rules apply to Category 1 and Category 2 filers (Form 8865) described in section 4. Free 2012 state tax filing 12(6) of this revenue procedure. Free 2012 state tax filing (8) The provisions of section 4. Free 2012 state tax filing 12(2), (3), (5) and (6) of this revenue procedure also apply to a statement received that is described in section 4. Free 2012 state tax filing 11(2) of this revenue procedure, except that the information that must be provided are those items described in section 4. Free 2012 state tax filing 11(1)(b) of this revenue procedure (an S corporation need not provide its shareholders with the date(s) of the transaction(s) that would constitute the reacquisition transaction or transactions) and the share of the partner or shareholder in the amounts described in section 4. Free 2012 state tax filing 11(1)(d) of this revenue procedure. Free 2012 state tax filing SECTION 5. Free 2012 state tax filing REQUIRED INFORMATION STATEMENT . Free 2012 state tax filing 01 Annual Information Statements. Free 2012 state tax filing Pursuant to § 108(i)(7)(B), a taxpayer that makes an election under § 108(i) (except for a protective election under section 4. Free 2012 state tax filing 11(1) of this revenue procedure) must attach a statement meeting the requirements of section 5. Free 2012 state tax filing 02 of this revenue procedure to its federal income tax return for each taxable year beginning with the taxable year following the taxable year for which the taxpayer makes the election and ending with the first taxable year in which all items deferred under § 108(i) have been recognized. Free 2012 state tax filing . Free 2012 state tax filing 02 Contents of Statement. Free 2012 state tax filing A statement meets the requirements of this section 5. Free 2012 state tax filing 02 if the statement— (1) Label. Free 2012 state tax filing States “Section 108(i) Information Statement” across the top; (2) Required information. Free 2012 state tax filing Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies— (a) COD income deferred under § 108(i) that is included in income in the current taxable year under § 108(i)(1); (b) COD income deferred under § 108(i) that is included in income in the current taxable year under § 108(i)(5)(D), including a description and date of the acceleration event described in § 108(i)(5)(D); (c) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years (in the case of a partnership, the aggregate of the partners’ deferred amounts that have not been included in income in the current or prior taxable years, and in the case of an S corporation, the S corporation’s COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years); (d) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (e) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D); and (f) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years. Free 2012 state tax filing (3) Election attached. Free 2012 state tax filing Includes a copy of the election statement described in section 4. Free 2012 state tax filing 05 of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 03 Additional Annual Reporting Requirements for Certain Partnerships. Free 2012 state tax filing The rules of this section 5. Free 2012 state tax filing 03 apply to partnerships other than partnerships described in section 5. Free 2012 state tax filing 05 of this revenue procedure. Free 2012 state tax filing (1) In general. Free 2012 state tax filing A partnership that makes an election under § 108(i) (except for a protective election under section 4. Free 2012 state tax filing 11(1) of this revenue procedure) must attach to its federal income tax returns the statements required under section 5. Free 2012 state tax filing 01 of this revenue procedure. Free 2012 state tax filing In addition, for each taxable year in which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure, the partnership must report on the Schedule K-1 (Form 1065 or Form 1065-B) for each partner § 108(i) information in the manner described in section 4. Free 2012 state tax filing 07(1) of this revenue procedure. Free 2012 state tax filing (2) Annual information statements provided to partners. Free 2012 state tax filing The partnership must attach to the Schedule K-1 (Form 1065) provided to each partner for each taxable year in which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure, a statement meeting the requirements of this section 5. Free 2012 state tax filing 03(2). Free 2012 state tax filing The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner must retain that partner’s statement, in their respective books and records. Free 2012 state tax filing A statement meets the requirements of this section 5. Free 2012 state tax filing 03(2) if the statement— (a) Label. Free 2012 state tax filing States “Section 108(i) Annual Information Statement for Partners” across the top of the statement. Free 2012 state tax filing (b) Required information. Free 2012 state tax filing Clearly identifies for each applicable debt instrument to which a § 108(i) election applies— (i) The partner’s deferred amount that has not been included in income as of the end of the prior taxable year; (ii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(1); (iii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iv) The partner’s deferred amount that has not been included in income in the current or prior taxable years; (v) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (vi) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (vii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); (viii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years; and (ix) The partner’s deferred § 752 amount that is treated as a distribution of money to the partner under § 752 in the current taxable year and any remaining deferred § 752 amount. Free 2012 state tax filing If a partner fails to provide the written statement required by section 4. Free 2012 state tax filing 07(3) of this revenue procedure, the partnership must indicate that the amounts described in this section 5. Free 2012 state tax filing 03(2)(b)(ix) cannot be calculated because the partner did not provide the information necessary to report these amounts. Free 2012 state tax filing . Free 2012 state tax filing 04 Additional Annual Reporting Requirements for an S Corporation. Free 2012 state tax filing (1) In general. Free 2012 state tax filing An S corporation that makes an election under § 108(i) (except for a protective election under section 4. Free 2012 state tax filing 11(1) of this revenue procedure) must attach to its federal income tax returns the statements required under section 5. Free 2012 state tax filing 01 of this revenue procedure. Free 2012 state tax filing In addition, for each taxable year in which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure, the S corporation must report on the Schedule K-1 (Form 1120S) for each shareholder § 108(i) information in the manner described in section 4. Free 2012 state tax filing 08(1) of this revenue procedure. Free 2012 state tax filing (2) Annual information statements provided to shareholders. Free 2012 state tax filing The S corporation must attach to the Schedule K-1 (Form 1120S) provided to each shareholder for each taxable year in which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure a statement meeting the requirements of this section 5. Free 2012 state tax filing 04(2). Free 2012 state tax filing The S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each shareholder must retain that shareholder’s statement, in their respective books and records. Free 2012 state tax filing A statement meets the requirements of this section 5. Free 2012 state tax filing 04(2) if the statement— (a) Label. Free 2012 state tax filing States “Section 108(i) Annual Information Statement for Shareholders” across the top; (b) Required information. Free 2012 state tax filing Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies, the shareholder’s share of the S corporation’s— (i) COD income deferred under § 108(i) that has not been included in income as of the end of the prior taxable year; (ii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(1); (iii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iv) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years; (v) OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (vi) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (vii) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); and (viii) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years. Free 2012 state tax filing . Free 2012 state tax filing 05 Additional Annual Reporting Requirements for Certain Foreign Partnerships. Free 2012 state tax filing (1) The rules of this section 5. Free 2012 state tax filing 05 apply to nonfiling foreign partnerships. Free 2012 state tax filing (2) A nonfiling foreign partnership that makes an election under § 108(i) (except for a protective election under section 4. Free 2012 state tax filing 11(1) of this revenue procedure) must file federal income tax returns with the Service containing the information under § 1. Free 2012 state tax filing 6031(a)-1(b)(5) for each taxable year in which a statement is required by section 5. Free 2012 state tax filing 01 of this revenue procedure. Free 2012 state tax filing (3) The nonfiling foreign partnership must attach to its federal income tax returns the statements required under section 5. Free 2012 state tax filing 01 of this revenue procedure, but only for that portion of the COD income allocated to affected partners. Free 2012 state tax filing (4) For each taxable year in which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure, the nonfiling foreign partnership must provide each affected partner a Schedule K-1 (Form 1065) reporting § 108(i) information in the manner described in section 4. Free 2012 state tax filing 07(1) of this revenue procedure. Free 2012 state tax filing Except for this § 108(i) information, the partnership need not complete Part III of the Schedule K-1 (Form 1065). Free 2012 state tax filing The partnership must provide each affected partner with a copy of the Schedule K-1 (Form 1065) by the date provided in § 1. Free 2012 state tax filing 6031(b)-1T(b). Free 2012 state tax filing The partnership must attach the Schedules K-1 (Form 1065) to the federal income tax returns filed with the Service pursuant to section 5. Free 2012 state tax filing 05(2) of this revenue procedure. Free 2012 state tax filing (5) For each taxable year for which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure, the nonfiling foreign partnership must attach to each affected partner’s Schedule K-1 (Form 1065) a statement meeting the requirements of section 5. Free 2012 state tax filing 03(2) of this revenue procedure. Free 2012 state tax filing The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain the statements, and each partner must retain that partner’s statement, in their respective books and records. Free 2012 state tax filing . Free 2012 state tax filing 06 Information Statements Made on Behalf of Certain Foreign Corporations. Free 2012 state tax filing Each controlling domestic shareholder must attach a statement identifying the foreign corporation and meeting the requirements of section 5. Free 2012 state tax filing 02 of this revenue procedure to the shareholder’s federal income tax return for each taxable year for which a statement is required under section 5. Free 2012 state tax filing 01 of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 07 Additional Annual Reporting Requirements for Tiered Pass-Through Entities. Free 2012 state tax filing (1) A partnership required to file a U. Free 2012 state tax filing S. Free 2012 state tax filing partnership return other than under § 1. Free 2012 state tax filing 6031(a)-1(b)(5), or an S corporation, that receives a Schedule K-1 (Form 1065 or Form 1065-B) described in the second sentence of section 5. Free 2012 state tax filing 03(1) of this revenue procedure reflecting its share of any § 108(i) information must report on the Schedules K-1 (Form 1065, Form 1065-B, or Form 1120S) to its partners or shareholders, as the case may be, each partner’s or shareholder’s share of those items (an S corporation only reports to its shareholders the items described in section 4. Free 2012 state tax filing 07(1)(a) through (d) of this revenue procedure). Free 2012 state tax filing (2) If a partnership described in section 5. Free 2012 state tax filing 07(1) of this revenue procedure receives a statement described in sections 5. Free 2012 state tax filing 03(2) or 5. Free 2012 state tax filing 05(5) of this revenue procedure or this section 5. Free 2012 state tax filing 07(2), it must provide each of its partners a statement containing the partner’s share of each of the items listed on each statement received by the partnership. Free 2012 state tax filing If an S corporation receives a statement described in sections 5. Free 2012 state tax filing 03(2) or 5. Free 2012 state tax filing 05(5) of this revenue procedure or this section 5. Free 2012 state tax filing 07(2), it must provide each of its shareholders a statement containing the shareholder’s share of each of the items listed on each statement received by the S corporation that are described in section 5. Free 2012 state tax filing 03(2)(b)(i) through (viii) of this revenue procedure. Free 2012 state tax filing The partnership or S corporation must attach the statement or statements to the Schedule K-1 (Form 1065 or Form 1065-B) or Schedule K-1 (Form 1120S) that is provided to each of its partners or shareholders, as the case may be, for the taxable year of the partnership or S corporation. Free 2012 state tax filing The partnership or S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Free 2012 state tax filing (3) This paragraph 5. Free 2012 state tax filing 07(3) provides the rules for persons described in section 4. Free 2012 state tax filing 12(6) of this revenue procedure if the foreign partnership, for which the Category 1 or 2 filer has a filing requirement, receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting the partnership’s share of any items described in the second sentence of section 5. Free 2012 state tax filing 03(1) of this revenue procedure, or a statement described in sections 5. Free 2012 state tax filing 03(2) or 5. Free 2012 state tax filing 05(5) of this revenue procedure (because the foreign partnership owns an interest directly or indirectly in another partnership in which an election was made under § 108(i) with respect to that foreign partnership’s distributive share from the other entity). Free 2012 state tax filing (a) For each partner for whom the Category 1 filer is required to complete a Schedule K-1 (Form 8865) (which includes the Category 1 filer itself), the Category 1 filer must: (i) Include the information described in section 4. Free 2012 state tax filing 07(1) of this revenue procedure in the Schedule K-1 (Form 8865) that the Category 1 filer files with the Service and completes for the partner; (ii) Produce a statement containing the partner’s share of the items listed on each statement received by the partnership; and (iii) Attach the statement described in section 5. Free 2012 state tax filing 07(3)(a)(ii) of this revenue procedure to each Schedule K-1 (Form 8865) that it is required to provide to a partner of the foreign partnership. Free 2012 state tax filing (b) A Category 2 filer must include its share of the information described in section 4. Free 2012 state tax filing 07(1) on the Schedule K-1 (Form 8865) that it is required to complete. Free 2012 state tax filing Category 2 filers also must complete a statement containing their share of the items listed on each statement received by the partnership. Free 2012 state tax filing (c) The Category 1 and Category 2 filers should not attach the statements described in sections 5. Free 2012 state tax filing 07(3)(a)(ii) and 5. Free 2012 state tax filing 07(3)(b) of this revenue procedure, respectively, to the Schedules K-1 that are filed with the Service. Free 2012 state tax filing However, Category 1 filers must retain the statements they complete and each partner must retain its own statement, in their respective books and records. Free 2012 state tax filing (4) If as a result of § 108(i)(5)(D)(ii), a partner of a partnership described in section 5. Free 2012 state tax filing 07(1) of this revenue procedure or a shareholder of an S corporation described in section 5. Free 2012 state tax filing 07(1) of this revenue procedure must recognize items deferred under § 108(i), the partnership or S corporation must report these items on the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) and statements provided to the partner or shareholder pursuant to section 5. Free 2012 state tax filing 07(1) and (2) of this revenue procedure. Free 2012 state tax filing Similar rules apply to Category 1 and Category 2 filers (Form 8865) described in section 4. Free 2012 state tax filing 12(6) of this revenue procedure. Free 2012 state tax filing SECTION 6. Free 2012 state tax filing EFFECTIVE DATE This revenue procedure is effective for reacquisitions of applicable debt instruments in taxable years ending after December 31, 2008. Free 2012 state tax filing SECTION 7. Free 2012 state tax filing TRANSITION RULE . Free 2012 state tax filing 01 Noncomplying Election. Free 2012 state tax filing Except as otherwise provided in this section 7. Free 2012 state tax filing 01, the Service will treat a § 108(i) election as effective if a taxpayer files an election with the taxpayer’s federal income tax return filed on or before September 16, 2009, using any reasonable procedure to make the election. Free 2012 state tax filing However, an election that does not comply with section 4 of this revenue procedure will not be effective unless the taxpayer on or before November 16, 2009, files an amended return for the taxable year of the election and complies with the requirements of section 4 of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 02 Modification of Election. Free 2012 state tax filing A taxpayer that files a § 108(i) election on or before September 16, 2009, may modify that election by filing an amended return on or before November 16, 2009 (for example, to modify the amount of COD income the taxpayer elects to defer). Free 2012 state tax filing To be effective, a modification of an election described in the preceding sentence must satisfy the requirements for an election described in section 4 of this revenue procedure. Free 2012 state tax filing . Free 2012 state tax filing 03 Notations. Free 2012 state tax filing A taxpayer that files the amended return on paper must write “Section 108(i) Election” on the top of the first page. Free 2012 state tax filing A taxpayer that files the amended return electronically should indicate “Section 108(i) Election” on the return. Free 2012 state tax filing See Publication 4163, Modernized e-File (MeF) Information for Authorized IRS e-file Providers for Business Returns Tax Year 2008 for more details. Free 2012 state tax filing SECTION 8. Free 2012 state tax filing PAPERWORK REDUCTION ACT The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U. Free 2012 state tax filing S. Free 2012 state tax filing C. Free 2012 state tax filing 3507) under control number 1545-2147. Free 2012 state tax filing An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Free 2012 state tax filing The collection of information in this revenue procedure is in sections 4, 5 and 7. Free 2012 state tax filing This information is required to determine the amount of income and deductions a taxpayer elects to defer and to track those amounts until the taxpayer has reported all deferred income and deductions on the taxpayer’s tax return. Free 2012 state tax filing This information will be used during examination to verify that a taxpayer has correctly deferred income and deductions. Free 2012 state tax filing The collection of information is required to obtain a benefit. Free 2012 state tax filing The likely respondents are C corporations, shareholders of S corporations, partners of partnerships, and other individuals engaged in a trade or business, that reacquire applicable debt instruments in 2009 or 2010. Free 2012 state tax filing The estimated total annual reporting burden is 300,000 hours. Free 2012 state tax filing The estimated annual burden per respondent varies from 1 to 8 hours, depending on individual circumstances, with an estimated average of 6 hours. Free 2012 state tax filing The estimated number of respondents is 50,000. Free 2012 state tax filing Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Free 2012 state tax filing Generally, tax returns and return information are confidential, as required by § 6103. Free 2012 state tax filing DRAFTING INFORMATION The principal authors of this revenue procedure are Megan A. Free 2012 state tax filing Stoner of the Office of Associate Chief Counsel (Passthroughs & Special Industries) and Craig Wojay of the Office of Associate Chief Counsel (Income Tax & Accounting). Free 2012 state tax filing For further information regarding this revenue procedure, contact Megan A. Free 2012 state tax filing Stoner at (202) 622-3070 for questions involving partnerships and S corporations, William E. Free 2012 state tax filing Blanchard at (202) 622-3950 for questions involving OID, Ronald M. Free 2012 state tax filing Gootzeit at (202) 622-3860 for questions involving foreign entities, Robert Rhyne at (202) 622-7790 for questions involving earnings and profits and consolidated groups, and Craig Wojay at (202) 622-4920 for questions on § 108(i) generally (not toll-free calls). Free 2012 state tax filing Prev  Up  Next   Home   More Internal Revenue Bulletins