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Free State And Federal Tax Returns

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Free State And Federal Tax Returns

Free state and federal tax returns Publication 557 - Additional Material Table of Contents Appendix. Free state and federal tax returns Sample Articles of Organization, continued Organization Reference Chart Section of 1986 Code Description of organization General nature of activities Application  Form Annual return required to be  filed Contributions  allowable 501(c)(1) Corporations Organized under Act of Congress (including Federal Credit Unions) Instrumentalities of the  United States No Form None Yes, if made for exclusively public purposes 501(c)(2) Title Holding Corporation For Exempt Organization Holding title to property of an  exempt organization 1024 9901 or 990-EZ8 No2 501(c)(3) Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations Activities of nature implied by description of class of organization 1023 9901 or 990-EZ8, or 990-PF Yes, generally 501(c)(4) Civic Leagues, Social Welfare Organizations, and Local Associations of Employees Promotion of community welfare; charitable, educational, or recreational 1024 9901 or 990-EZ8 No, generally 2, 3 501(c)(5) Labor, Agricultural, and Horticultural Organizations Educational or instructive, the  purpose being to improve conditions of work, and to improve products of efficiency 1024 9901 or 990-EZ8 No2 501(c)(6) Business Leagues, Chambers of Commerce, Real Estate Boards, etc. Free state and federal tax returns Improvement of business  conditions of one or more lines of business 1024 9901 or 990-EZ8 No2 501(c)(7) Social and Recreational Clubs Pleasure, recreation, social activities 1024 9901 or 990-EZ8 No2 501(c)(8) Fraternal Beneficiary Societies  and Associations Lodge providing for payment of life, sickness, accident or other benefits  to members 1024 9901 or 990-EZ8 Yes, if for certain Sec. Free state and federal tax returns 501(c)(3) purposes 501(c)(9) Voluntary Employees Beneficiary Associations Providing for payment of life, sickness, accident, or other benefits to members 1024 9901 or 990-EZ8 No2 501(c)(10) Domestic Fraternal Societies  and Associations Lodge devoting its net earnings to charitable, fraternal, and other  specified purposes. Free state and federal tax returns No life, sickness, or accident benefits to members 1024 9901 or 990-EZ8 Yes, if for certain Sec. Free state and federal tax returns 501(c)(3) purposes 501(c)(11) Teachers' Retirement Fund Associations Teachers' association for payment of retirement benefits Letter6 9901 or 990-EZ8 No2 501(c)(12) Benevolent Life Insurance Associations, Mutual Ditch or  Irrigation Companies, Mutual or Cooperative Telephone Companies, etc. Free state and federal tax returns Activities of a mutually beneficial  nature similar to those implied by the description of class of organization 1024 9901 or 990-EZ8 No2 501(c)(13) Cemetery Companies Burials and incidental activities 1024 9901 or 990-EZ8 Yes, generally 501(c)(14) State-Chartered Credit Unions,  Mutual Reserve Funds Loans to members Letter6 9901 or 990-EZ8 No2 501(c)(15) Mutual Insurance Companies or Associations Providing insurance to members substantially at cost 1024 9901 or 990-EZ8 No2 501(c)(16) Cooperative Organizations to  Finance Crop Operations Financing crop operations in  conjunction with activities of a marketing  or purchasing association Form 1120-C6 9901 or 990-EZ8 No2 501(c)(17) Supplemental Unemployment  Benefit Trusts Provides for payment of  supplemental unemployment compensation benefits 1024 9901 or 990-EZ8 No2 501(c)(18) Employee Funded Pension Trust (created before June 25, 1959) Payment of benefits under a  pension plan funded by employees Letter6 9901 or 990-EZ8 No2 501(c)(19) Post or Organization of Past or  Present Members of the Armed Forces Activities implied by nature of organization 1024 9901 or 990-EZ8 No, generally7 501(c)(21) Black Lung Benefit Trusts Funded by coal mine operators to satisfy their liability for disability or  death due to black lung diseases Letter6 990-BL No4 501(c)(22) Withdrawal Liability Payment Fund To provide funds to meet the  liability of employers withdrawing from  a multi-employer pension fund Letter6 9901 or 990-EZ8 No5 501(c)(23) Veterans' Organization (created before 1880) To provide insurance and other  benefits to veterans Letter6 9901 or 990-EZ8 No, generally7 501(c)(25) Title Holding Corporations or Trusts with Multiple Parent Corporations Holding title and paying over  income from property to 35 or fewer parents or beneficiaries 1024 9901 or 990-EZ8 No 501(c)(26) State-Sponsored Organization Providing Health Coverage for High-Risk Individuals Provides health care coverage to high-risk individuals Letter6 9901 or 990-EZ8 No 501(c)(27) State-Sponsored Workers' Compensation Reinsurance Organization Reimburses members for losses  under workers' compensation acts Letter6 9901 or 990-EZ8 No 501(c)(28) National Railroad Retirement Investment Trust Manages and invests the assets of the Railroad Retirement Account No Form 99011 No11 501(c)(29) CO-OP health insurance issuers A qualified health insurance issuer which has received a loan or grant under the CO-OP program Letter and Form 871814 9901 No13 501(d) Religious and Apostolic Associations Regular business activities;  Communal religious community No Form 10659 No2 501(e) Cooperative Hospital Service Organizations Performs cooperative services for hospitals 1023 9901 or 990-EZ8 Yes 501(f) Cooperative Service Organizations  of Operating Educational Organizations Performs collective investment  services for educational organizations 1023 9901 or 990-EZ8 Yes 501(k) Child Care Organizations Provides care for children 1023 9901 or 990-EZ8 Yes 501(n) Charitable Risk Pools Pools certain insurance risks of sec. Free state and federal tax returns 501(c)(3) organizations 1023 9901 or 990-EZ8 Yes 501(q) Credit Counseling Organization Credit counseling services 1023 102312 No 521(a) Farmers' Cooperative Associations Cooperative marketing and  purchasing for agricultural procedures 1028 1120-C No 527 Political organizations A party, committee, fund,  association, etc. Free state and federal tax returns , that directly or indirectly accepts contributions or makes expenditures for political campaigns 8871 1120-POL10 9901 or 990-EZ8 No 1For exceptions to the filing requirement, see chapter 2 and the form instructions. Free state and federal tax returns Note: For annual tax periods beginning after 2006, most tax-exempt organizations, other than churches, are required to file an annual Form 990, 990-EZ, or 990-PF with the IRS or to submit an annual electronic notice, Form 990-N (e-Postcard), to the IRS. Free state and federal tax returns Tax-exempt organizations failing to file an annual return or submit an annual notice as required for 3 consecutive years will automatically lose their tax-exempt status. Free state and federal tax returns    2An organization exempt under a subsection of section 501 other than 501(c)(3) can establish a charitable fund, contributions to which are deductible. Free state and federal tax returns Such a fund must itself meet the requirements of section 501(c)(3) and the related notice requirements of section 508(a). Free state and federal tax returns    3Contributions to volunteer fire companies and similar organizations are deductible, but only if made for exclusively public purposes. Free state and federal tax returns    4Deductible as a business expense to the extent allowed by section 192. Free state and federal tax returns    5Deductible as a business expense to the extent allowed by section 194A. Free state and federal tax returns 6Application is by letter to the address shown on Form 8718. Free state and federal tax returns A copy of the organizing document should be attached and the letter should be signed by an officer. Free state and federal tax returns    7Contributions to these organizations are deductible only if 90% or more of the organization's members are war veterans. Free state and federal tax returns    8For limits on the use of Form 990-EZ, see chapter 2 and the general instructions for Form 990-EZ (or Form 990). Free state and federal tax returns    9Although the organization files a partnership return, all distributions are deemed dividends. Free state and federal tax returns The members are not entitled to pass through treatment of the organization's income or expenses. Free state and federal tax returns    10Form 1120-POL is required only if the organization has taxable income as defined in section 527(c). Free state and federal tax returns    11Only required to annually file so much of the Form 990 that relates to the names and addresses of the officers, directors, trustees, and key employees, and their titles, compensation, and hours devoted to their positions (Part VII of Form 990), and to complete Item I in the Heading of Form 990 to confirm its tax-exempt status under section 501(c)(28). Free state and federal tax returns    12See section 501(q) if the organization provides credit counseling services and seeks recognition of exemption under section 501(c)(4). Free state and federal tax returns Use Form 1024 if applying for recognition under section 501(c)(4). Free state and federal tax returns    13See section 501(c)(29) for details. Free state and federal tax returns    14See Revenue Procedure 2012-11, sec. Free state and federal tax returns 4. Free state and federal tax returns 01, 2012-7 I. Free state and federal tax returns R. Free state and federal tax returns B. Free state and federal tax returns 368, for details. Free state and federal tax returns Appendix. Free state and federal tax returns Sample Articles of Organization The following are examples of Articles of Incorporation (Draft A) and a declaration of trust (Draft B) that contain the required information as to purposes and powers of an organization and disposition of its assets upon dissolution. Free state and federal tax returns You should bear in mind that requirements for these instruments may vary under applicable state law. Free state and federal tax returns See Private Foundations and Public Charities , earlier for the special provisions required in a private foundation's governing instrument in order for it to qualify for exemption. Free state and federal tax returns DRAFT A  Articles of Incorporation of the undersigned, a majority of whom are citizens of the United States, desiring to form a Non-Profit Corporation under the Non-Profit Corporation Law of , do hereby certify: First: The name of the Corporation shall be . Free state and federal tax returns Second: The place in this state where the principal office of the Corporation is to be located is the City of , County. Free state and federal tax returns Third: Said corporation is organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Free state and federal tax returns Fourth: The names and addresses of the persons who are the initial trustees of the corporation are as follows: Name , Address Fifth: No part of the net earnings of the corporation shall inure to the benefit of, or be distributable to its members, trustees, officers, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in Article Third hereof. Free state and federal tax returns No substantial part of the activities of the corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate in, or intervene in (including the publishing or distribution of statements) any political campaign on behalf of or in opposition to any candidate for public office. Free state and federal tax returns Notwithstanding any other provision of these articles, the corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or (b) by a corporation, contributions to which are deductible under section 170(c)(2) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Free state and federal tax returns   If reference to federal law in articles of incorporation imposes a limitation that is invalid in your state, you may wish to substitute the following for the last sentence of the preceding paragraph: “Notwithstanding any other provision of these articles, this corporation shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the purposes of this corporation. Free state and federal tax returns ” Sixth: Upon the dissolution of the corporation, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. Free state and federal tax returns Any such assets not so disposed of shall be disposed of by a Court of Competent Jurisdiction of the county in which the principal office of the corporation is then located, exclusively for such purposes or to such organization or organizations, as said Court shall determine, which are organized and operated exclusively for such purposes. Free state and federal tax returns   In witness whereof, we have hereunto subscribed our names this day of , 20. Free state and federal tax returns Appendix. Free state and federal tax returns Sample Articles of Organization, continued Draft B The Charitable Trust. Free state and federal tax returns Declaration of Trust made as of the day of , 20 , by , of , and , of , who hereby declare and agree that they have received this day from , as Donor, the sum of Ten Dollars ($10) and that they will hold and manage the same, and any additions to it, in trust, as follows: First: This trust shall be called “The Charitable Trust. Free state and federal tax returns ” Second: The trustees may receive and accept property, whether real, personal, or mixed, by way of gift, bequest, or devise, from any person, firm, trust, or corporation, to be held, administered, and disposed of in accordance with and pursuant to the provisions of this Declaration of Trust; but no gift, bequest, or devise of any such property shall be received and accepted if it is conditioned or limited in such manner as to require the disposition of the income or its principal to any person or organization other than a “charitable organization” or for other than “charitable purposes” within the meaning of such terms as defined in Article Third of this Declaration of Trust, or as shall, in the opinion of the trustees, jeopardize the federal income tax exemption of this trust pursuant to section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Free state and federal tax returns Third: a) The principal and income of all property received and accepted by the trustees to be administered under this Declaration of Trust shall be held in trust by them, and the trustees may make payments or distributions from income or principal, or both, to or for the use of such charitable organizations, within the meaning of that term as defined in paragraph C, in such amounts and for such charitable purposes of the trust as the trustees shall from time to time select and determine; and the trustees may make payments or distributions from income or principal, or both, directly for such charitable purposes, within the meaning of that term as defined in paragraph D, in such amounts as the trustees shall from time to time select and determine without making use of any other charitable organization. Free state and federal tax returns The trustees may also make payments or distributions of all or any part of the income or principal to states, territories, or possessions of the United States, any political subdivision of any of the foregoing, or to the United States or the District of Columbia but only for charitable purposes within the meaning of that term as defined in paragraph D. Free state and federal tax returns Income or principal derived from contributions by corporations shall be distributed by the trustees for use solely within the United States or its possessions. Free state and federal tax returns No part of the net earnings of this trust shall inure or be payable to or for the benefit of any private shareholder or individual, and no substantial part of the activities of this trust shall be the carrying on of propaganda, or otherwise attempting to influence legislation. Free state and federal tax returns No part of the activities of this trust shall be the participation in, or intervention in (including the publishing or distributing of statements), any political campaign on behalf of or in opposition to any candidate for public office. Free state and federal tax returns b) The trust shall continue forever unless the trustees terminate it and distribute all of the principal and income, which action may be taken by the trustees in their discretion at any time. Free state and federal tax returns On such termination, assets shall be distributed for one or more exempt purposes within the meaning of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government, for a public purpose. Free state and federal tax returns The donor authorizes and empowers the trustees to form and organize a nonprofit corporation limited to the uses and purposes provided for in this Declaration of Trust, such corporation to be organized under the laws of any state or under the laws of the United States as may be determined by the trustees; such corporation when organized to have power to administer and control the affairs and property and to carry out the uses, objects, and purposes of this trust. Free state and federal tax returns Upon the creation and organization of such corporation, the trustees are authorized and empowered to convey, transfer, and deliver to such corporation all the property and assets to which this trust may be or become entitled. Free state and federal tax returns The charter, bylaws, and other provisions for the organization and management of such corporation and its affairs and property shall be such as the trustees shall determine, consistent with the provisions of this paragraph. Free state and federal tax returns c) In this Declaration of Trust and in any amendments to it, references to “charitable organizations” or “charitable organization” mean corporations, trusts, funds, foundations, or community chests created or organized in the United States or in any of its possessions, whether under the laws of the United States, any state or territory, the District of Columbia, or any possession of the United States, organized and operated exclusively for charitable purposes, no part of the net earnings of which inures or is payable to or for the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, and which do not participate in or intervene in (including the publishing or distributing of statements) any political campaign on behalf of or in opposition to any candidate for public office. Free state and federal tax returns It is intended that the organization described in this paragraph C shall be entitled to exemption from federal income tax under section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Free state and federal tax returns d) In this Declaration of Trust and in any amendments to it, the term “charitable purposes” shall be limited to and shall include only religious, charitable, scientific, literary, or educational purposes within the meaning of those terms as used in section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, but only such purposes as also constitute public charitable purposes under the law of trusts of the State of. Free state and federal tax returns Fourth: This Declaration of Trust may be amended at any time or times by written instrument or instruments signed and sealed by the trustees, and acknowledged by any of the trustees, provided that no amendment shall authorize the trustees to conduct the affairs of this trust in any manner or for any purpose contrary to the provisions of section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code. Free state and federal tax returns An amendment of the provisions of this Article Fourth (or any amendment to it) shall be valid only if and to the extent that such amendment further restricts the trustees' amending power. Free state and federal tax returns All instruments amending this Declaration of Trust shall be noted upon or kept attached to the executed original of this Declaration of Trust held by the trustees. Free state and federal tax returns Fifth: Any trustee under this Declaration of Trust may, by written instrument, signed and acknowledged, resign his office. Free state and federal tax returns The number of trustees shall be at all times not less than two, and whenever for any reason the number is reduced to one, there shall be, and at any other time there may be, appointed one or more additional trustees. Free state and federal tax returns Appointments shall be made by the trustee or trustees for the time in office by written instruments signed and acknowledged. Free state and federal tax returns Any succeeding or additional trustee shall, upon his or her acceptance of the office by written instrument signed and acknowledged, have the same powers, rights, and duties, and the same title to the trust estate jointly with the surviving or remaining trustee or trustees as if originally appointed. Free state and federal tax returns  None of the trustees shall be required to furnish any bond or surety. Free state and federal tax returns None of them shall be responsible or liable for the acts or omissions of any other of the trustees or of any predecessor or of a custodian, agent, depositary, or counsel selected with reasonable care. Free state and federal tax returns  The one or more trustees, whether original or successor, for the time being in office, shall have full authority to act even though one or more vacancies may exist. Free state and federal tax returns A trustee may, by appropriate written instrument, delegate all or any part of his or her powers to another or others of the trustees for such periods and subject to such conditions as such delegating trustee may determine. Free state and federal tax returns  The trustees serving under this Declaration of Trust are authorized to pay to themselves amounts for reasonable expenses incurred and reasonable compensation for services rendered in the administration of this trust, but in no event shall any trustee who has made a contribution to this trust ever receive any compensation thereafter. Free state and federal tax returns Sixth: In extension and not in limitation of the common law and statutory powers of trustees and other powers granted in this Declaration of Trust, the trustees shall have the following discretionary powers. Free state and federal tax returns a) To invest and reinvest the principal and income of the trust in such property, real, personal, or mixed, and in such manner as they shall deem proper, and from time to time to change investments as they shall deem advisable; to invest in or retain any stocks, shares, bonds, notes, obligations, or personal or real property (including without limitation any interests in or obligations of any corporation, association, business trust, investment trust, common trust fund, or investment company) although some or all of the property so acquired or retained is of a kind or size which but for this express authority would not be considered proper and although all of the trust funds are invested in the securities of one company. Free state and federal tax returns No principal or income, however, shall be loaned, directly or indirectly, to any trustee or to anyone else, corporate or otherwise, who has at any time made a contribution to this trust, nor to anyone except on the basis of an adequate interest charge and with adequate security. Free state and federal tax returns b) To sell, lease, or exchange any personal, mixed, or real property, at public auction or by private contract, for such consideration and on such terms as to credit or otherwise, and to make such contracts and enter into such undertakings relating to the trust property, as they consider advisable, whether or not such leases or contracts may extend beyond the duration of the trust. Free state and federal tax returns c) To borrow money for such periods, at such rates of interest, and upon such terms as the trustees consider advisable, and as security for such loans to mortgage or pledge any real or personal property with or without power of sale; to acquire or hold any real or personal property, subject to any mortgage or pledge on or of property acquired or held by this trust. Free state and federal tax returns d) To execute and deliver deeds, assignments, transfers, mortgages, pledges, leases, covenants, contracts, promissory notes, releases, and other instruments, sealed or unsealed, incident to any transaction in which they engage. Free state and federal tax returns e) To vote, to give proxies, to participate in the reorganization, merger, or consolidation of any concern, or in the sale, lease, disposition, or distribution of its assets; to join with other security holders in acting through a committee, depositary, voting trustees, or otherwise, and in this connection to delegate authority to such committee, depositary, or trustees and to deposit securities with them or transfer securities to them; to pay assessments levied on securities or to exercise subscription rights in respect of securities. Free state and federal tax returns f) To employ a bank or trust company as custodian of any funds or securities and to delegate to it such powers as they deem appropriate; to hold trust property without indication of fiduciary capacity but only in the name of a registered nominee, provided the trust property is at all times identified as such on the books of the trust; to keep any or all of the trust property or funds in any place or places in the United States of America; to employ clerks, accountants, investment counsel, investment agents, and any special services, and to pay the reasonable compensation and expenses of all such services in addition to the compensation of the trustees. Free state and federal tax returns Seventh: The trustees' powers are exercisable solely in the fiduciary capacity consistent with and in furtherance of the charitable purposes of this trust as specified in Article Third and not otherwise. Free state and federal tax returns Eighth: In this Declaration of Trust and in any amendment to it, references to “trustees” mean the one or more trustees, whether original or successor, for the time being in office. Free state and federal tax returns Ninth: Any person may rely on a copy, certified by a notary public, of the executed original of this Declaration of Trust held by the trustees, and of any of the notations on it and writings attached to it, as fully as he might rely on the original documents themselves. Free state and federal tax returns Any such person may rely fully on any statements of fact certified by anyone who appears from such original documents or from such certified copy to be a trustee under this Declaration of Trust. Free state and federal tax returns No one dealing with the trustees need inquire concerning the validity of anything the trustees purport to do. Free state and federal tax returns No one dealing with the trustees need see to the application of anything paid or transferred to or upon the order of the trustees of the trust. Free state and federal tax returns Tenth: This Declaration of Trust is to be governed in all respects by the laws of the State of . Free state and federal tax returns Trustee Trustee Prev  Up  Next   Home   More Online Publications
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Small Business Tax Workshops and Webinars

Small Business Webinars

The IRS broadcasts webinars on a variety of subjects aimed at educating small business owners on issues affecting them. Online access provides the convenience of viewing webinars whenever and wherever you choose.

Visit Webinars for Small Businesses for a list of upcoming webinars.

Small Business Tax Workshops

Small Business Taxes: The Virtual Workshop is available on online to help new small business owners understand and meet their federal tax obligations.

Small business workshops, designed to help the small business owner understand and fulfill their federal tax responsibilities, are held at various locations throughout the country. Workshops are sponsored and presented by IRS partners specializing in federal tax.

Workshop topics vary from a general overview of taxes to more specific topics such as recordkeeping and retirement plans. Although most are free, some workshops have fees paid directly to the sponsoring organization, not the IRS.

Workshops in Spanish (Talleres en español)

If you live near a state line, please look for workshops in nearby cities of the bordering state.

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Page Last Reviewed or Updated: 03-Dec-2013

The Free State And Federal Tax Returns

Free state and federal tax returns 4. Free state and federal tax returns   Underpayment Penalty for 2013 Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: General RuleFarmers and fishermen. Free state and federal tax returns Higher income taxpayers. Free state and federal tax returns Minimum required for higher income taxpayers. Free state and federal tax returns Estate or trust payments of estimated tax. Free state and federal tax returns Lowering or eliminating the penalty. Free state and federal tax returns ExceptionsLess Than $1,000 Due No Tax Liability Last Year Figuring Your Required Annual Payment (Part I) Short Method for Figuring the Penalty (Part III) Regular Method for Figuring the Penalty (Part IV)Figuring Your Underpayment (Part IV, Section A) Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Annualized Income Installment Method (Schedule AI) Farmers and Fishermen Waiver of PenaltyFarmers and fishermen. Free state and federal tax returns Introduction If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have underpaid your estimated tax and may have to pay a penalty. Free state and federal tax returns You may understand this chapter better if you can refer to a copy of your latest federal income tax return. Free state and federal tax returns No penalty. Free state and federal tax returns   Generally, you will not have to pay a penalty for 2013 if any of the following apply. Free state and federal tax returns The total of your withholding and timely estimated tax payments was at least as much as your 2012 tax. Free state and federal tax returns (See Special rules for certain individuals for higher income taxpayers and farmers and fishermen. Free state and federal tax returns ) The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. Free state and federal tax returns Your total tax for 2013 (defined later) minus your withholding is less than $1,000. Free state and federal tax returns You did not have a tax liability for 2012. Free state and federal tax returns You did not have any withholding taxes and your current year tax (less any household employment taxes) is less than $1,000. Free state and federal tax returns IRS can figure the penalty for you. Free state and federal tax returns   If you think you owe the penalty, but you do not want to figure it yourself when you file your tax return, you may not have to. Free state and federal tax returns Generally, the IRS will figure the penalty for you and send you a bill. Free state and federal tax returns   You only need to figure your penalty in the following three situations. Free state and federal tax returns You are requesting a waiver of part, but not all, of the penalty. Free state and federal tax returns You are using the annualized income installment method to figure the penalty. Free state and federal tax returns You are treating the federal income tax withheld from your income as paid on the dates actually withheld. Free state and federal tax returns However, if these situations do not apply to you, and you think you can lower or eliminate your penalty, complete Form 2210 or Form 2210-F and attach it to your return. Free state and federal tax returns See Form 2210 , later. Free state and federal tax returns Topics - This chapter discusses: The general rule for the underpayment penalty, Special rules for certain individuals, Exceptions to the underpayment penalty, How to figure your underpayment and the amount of your penalty on Form 2210, and How to ask the IRS to waive the penalty. Free state and federal tax returns Useful Items - You may want to see: Form (and Instructions) 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen See chapter 5 for information about getting these forms. Free state and federal tax returns General Rule In general, you may owe a penalty for 2013 if the total of your withholding and timely estimated tax payments did not equal at least the smaller of: 90% of your 2013 tax, or 100% of your 2012 tax. Free state and federal tax returns (Your 2012 tax return must cover a 12-month period. Free state and federal tax returns ) Your 2013 tax, for this purpose, is defined under Total tax for 2013 , later. Free state and federal tax returns Special rules for certain individuals. Free state and federal tax returns   There are special rules for farmers and fishermen and certain higher income taxpayers. Free state and federal tax returns Farmers and fishermen. Free state and federal tax returns   If at least two-thirds of your gross income for 2012 or 2013 is from farming or fishing, substitute  662/3% for 90% in (1) above. Free state and federal tax returns   See Farmers and Fishermen , later. Free state and federal tax returns Higher income taxpayers. Free state and federal tax returns   If your AGI for 2012 was more than $150,000 ($75,000 if your 2013 filing status is married filing a separate return), substitute 110% for 100% in (2) under General Rule . Free state and federal tax returns This rule does not apply to farmers or fishermen. Free state and federal tax returns   For 2012, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Free state and federal tax returns Penalty figured separately for each period. Free state and federal tax returns   Because the penalty is figured separately for each payment period, you may owe a penalty for an earlier payment period even if you later paid enough to make up the underpayment. Free state and federal tax returns This is true even if you are due a refund when you file your income tax return. Free state and federal tax returns Example. Free state and federal tax returns You did not make estimated tax payments for 2013 because you thought you had enough tax withheld from your wages. Free state and federal tax returns Early in January 2014, you made an estimate of your total 2013 tax. Free state and federal tax returns Then you realized that your withholding was $2,000 less than the amount needed to avoid a penalty for underpayment of estimated tax. Free state and federal tax returns On January 10, you made an estimated tax payment of $3,000, which is the difference between your withholding and your estimate of your total tax. Free state and federal tax returns Your final return shows your total tax to be $50 less than your estimate, so you are due a refund. Free state and federal tax returns You do not owe a penalty for your payment due January 15, 2014. Free state and federal tax returns However, you may owe a penalty through January 10, 2014, the day you made the $3,000 payment, for your underpayments for the earlier payment periods. Free state and federal tax returns Minimum required each period. Free state and federal tax returns   You will owe a penalty for any 2013 payment period for which your estimated tax payment plus your withholding for the period and overpayments applied from previous periods was less than the smaller of: 22. Free state and federal tax returns 5% of your 2013 tax, or 25% of your 2012 tax. Free state and federal tax returns (Your 2012 tax return must cover a 12-month period. Free state and federal tax returns ) Minimum required for higher income taxpayers. Free state and federal tax returns   If you are subject to the rule for higher income taxpayers, discussed above, substitute 27. Free state and federal tax returns 5% for 25% in (2) under General Rule . Free state and federal tax returns When penalty is charged. Free state and federal tax returns   If you miss a payment or you paid less than the minimum required in a period, you may be charged an underpayment penalty from the date the amount was due to the date the payment is made. Free state and federal tax returns If a payment is mailed, the date of the U. Free state and federal tax returns S. Free state and federal tax returns postmark is considered the date of payment. Free state and federal tax returns   If a payment is made electronically, the date the payment is shown on your payment account (checking, savings, etc. Free state and federal tax returns ) is considered to be the date of payment. Free state and federal tax returns Estate or trust payments of estimated tax. Free state and federal tax returns   If you have estimated taxes credited to you from an estate or trust (Schedule K-1 (Form 1041)), treat the payment as made by you on January 15, 2014. Free state and federal tax returns Amended returns. Free state and federal tax returns    If you file an amended return by the due date of your original return, use the tax shown on your amended return to figure your required estimated tax payments. Free state and federal tax returns If you file an amended return after the due date of the original return, use the tax shown on the original return. Free state and federal tax returns   However, if you and your spouse file a joint return after the due date to replace separate returns you originally filed by the due date, use the tax shown on the joint return to figure your required estimated tax payments. Free state and federal tax returns This rule applies only if both original separate returns were filed on time. Free state and federal tax returns 2012 separate returns and 2013 joint return. Free state and federal tax returns    If you file a joint return with your spouse for 2013, but you filed separate returns for 2012, your 2012 tax is the total of the tax shown on your separate returns. Free state and federal tax returns You filed a separate return if you filed as single, head of household, or married filing separately. Free state and federal tax returns 2012 joint return and 2013 separate returns. Free state and federal tax returns    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, your 2012 tax is your share of the tax on the joint return. Free state and federal tax returns You are filing a separate return if you file as single, head of household, or married filing separately. Free state and federal tax returns   To figure your share of the taxes on a joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2012 using the same filing status as for 2013. Free state and federal tax returns Then multiply the tax on the joint return by the following fraction. Free state and federal tax returns   The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Free state and federal tax returns Lisa and Paul filed a joint return for 2012 showing taxable income of $49,000 and a tax of $6,484. Free state and federal tax returns Of the $49,000 taxable income, $41,000 was Lisa's and the rest was Paul's. Free state and federal tax returns For 2013, they file married filing separately. Free state and federal tax returns Lisa figures her share of the tax on the 2012 joint return as follows. Free state and federal tax returns 2012 tax on $41,000 based on a separate return $ 6,286 2012 tax on $8,000 based on a  separate return 803 Total $ 7,089 Lisa's percentage of total tax  ($6,286 ÷ $ 7,089) 88. Free state and federal tax returns 67% Lisa's part of tax on joint return ($6,484 × 88. Free state and federal tax returns 67%) $ 5,749 Form 2210. Free state and federal tax returns   In most cases, you do not need to file Form 2210. Free state and federal tax returns The IRS will figure the penalty for you and send you a bill. Free state and federal tax returns If you want us to figure the penalty for you, leave the penalty line on your return blank. Free state and federal tax returns Do not file Form 2210. Free state and federal tax returns   To determine if you should file Form 2210, see Part II of Form 2210. Free state and federal tax returns If you decide to figure your penalty, complete Part I, Part II, and either Part III or Part IV of the form and the Penalty Worksheet in the Instructions for Form 2210. Free state and federal tax returns If you use Form 2210, you cannot file Form 1040EZ. Free state and federal tax returns   On Form 1040, enter the amount of your penalty on line 77. Free state and federal tax returns If you owe tax on line 76, add the penalty to your tax due and show your total payment on line 76. Free state and federal tax returns If you are due a refund, subtract the penalty from the overpayment and enter the result on line 73. Free state and federal tax returns   On Form 1040A, enter the amount of your penalty on line 46. Free state and federal tax returns If you owe tax on line 45, add the penalty to your tax due and show your total payment on line 45. Free state and federal tax returns If you are due a refund, subtract the penalty from the overpayment and enter the result on line 42. Free state and federal tax returns Lowering or eliminating the penalty. Free state and federal tax returns    You may be able to lower or eliminate your penalty if you file Form 2210. Free state and federal tax returns You must file Form 2210 with your return if any of the following applies. Free state and federal tax returns You request a waiver. Free state and federal tax returns See Waiver of Penalty , later. Free state and federal tax returns You use the annualized income installment method. Free state and federal tax returns See the explanation of this method under Annualized Income Installment Method (Schedule AI) . Free state and federal tax returns You use your actual withholding for each payment period for estimated tax purposes. Free state and federal tax returns See Actual withholding method under Figuring Your Underpayment (Part IV, Section A). Free state and federal tax returns You base any of your required installments on the tax shown on your 2012 return and you filed or are filing a joint return for either 2012 or 2013, but not for both years. Free state and federal tax returns Exceptions Generally, you do not have to pay an underpayment penalty if either: Your total tax is less than $1,000, or You had no tax liability last year. Free state and federal tax returns Less Than $1,000 Due You do not owe a penalty if the total tax shown on your return minus the amount you paid through withholding (including excess social security and tier 1 railroad retirement (RRTA) tax withholding) is less than $1,000. Free state and federal tax returns Total tax for 2013. Free state and federal tax returns   For 2013, your total tax on Form 1040 is the amount on line 61 reduced by the following. Free state and federal tax returns    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Free state and federal tax returns Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. Free state and federal tax returns The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. Free state and federal tax returns Any refundable credit amounts listed on lines 64a, 65, 66, 70, and any credit from Form 8885 included on line 71. Free state and federal tax returns   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. Free state and federal tax returns   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. Free state and federal tax returns Note. Free state and federal tax returns When figuring the amount on line 60, include household employment taxes only if you had federal income tax withheld from your income or you would owe the penalty even if you did not include those taxes. Free state and federal tax returns Paid through withholding. Free state and federal tax returns    For 2013, the amount you paid through withholding on Form 1040 is the amount on line 62 plus any excess social security or tier 1 RRTA tax withholding on line 69. Free state and federal tax returns Add to that any write-in amount on line 72 identified as “Form 8689. Free state and federal tax returns ” On Form 1040A, the amount you paid through withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included on line 41. Free state and federal tax returns On Form 1040EZ, it is the amount on line 7. Free state and federal tax returns No Tax Liability Last Year You do not owe a penalty if you had no tax liability last year and you were a U. Free state and federal tax returns S. Free state and federal tax returns citizen or resident for the whole year. Free state and federal tax returns For this rule to apply, your tax year must have included all 12 months of the year. Free state and federal tax returns You had no tax liability for 2012 if your total tax was zero or you were not required to file an income tax return. Free state and federal tax returns Example. Free state and federal tax returns Ray, who is single and 22 years old, was unemployed for a few months during 2012. Free state and federal tax returns He earned $6,700 in wages before he was laid off, and he received $1,400 in unemployment compensation afterwards. Free state and federal tax returns He had no other income. Free state and federal tax returns Even though he had gross income of $8,100, he did not have to pay income tax because his gross income was less than the filing requirement for a single person under age 65 ($9,750 for 2012). Free state and federal tax returns He filed a return only to have his withheld income tax refunded to him. Free state and federal tax returns In 2013, Ray began regular work as an independent contractor. Free state and federal tax returns Ray made no estimated tax payments in 2013. Free state and federal tax returns Even though he did owe tax at the end of the year, Ray does not owe the underpayment penalty for 2013 because he had no tax liability in 2012. Free state and federal tax returns Total tax for 2012. Free state and federal tax returns   For 2012, your total tax on Form 1040 is the amount on line 61 reduced by the following. Free state and federal tax returns    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Free state and federal tax returns Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. Free state and federal tax returns The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. Free state and federal tax returns Any refundable credit amounts listed on lines 64a, 65, 66, 70, and credits from Forms 8801 (line 27 only), and 8885 included on line 71. Free state and federal tax returns   If you filed Form 1040A, your 2012 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. Free state and federal tax returns   If you filed Form 1040EZ, your 2012 total tax is the amount on line 11 reduced by the amount on line 8a. Free state and federal tax returns Figuring Your Required Annual Payment (Part I) Figure your required annual payment in Part I of Form 2210, following the line-by-line instructions. Free state and federal tax returns If you rounded the entries on your tax return to whole dollars, you can round on Form 2210. Free state and federal tax returns Example. Free state and federal tax returns The tax on Lori Lane's 2012 return was $12,400. Free state and federal tax returns Her AGI was not more than $150,000 for either 2012 or 2013. Free state and federal tax returns The tax on her 2013 return (Form 1040, line 55) is $13,044. Free state and federal tax returns Line 56 (self-employment tax) is $8,902. Free state and federal tax returns Her 2013 total tax is $21,946. Free state and federal tax returns For 2013, Lori had $1,600 income tax withheld and made four equal estimated tax payments ($1,000 each). Free state and federal tax returns 90% of her 2013 tax is $19,751. Free state and federal tax returns Because she paid less than her 2012 tax ($12,400) and less than 90% of her 2013 tax ($19,751), and does not meet an exception, Lori knows that she owes a penalty for underpayment of estimated tax. Free state and federal tax returns The IRS will figure the penalty for Lori, but she decides to figure it herself on Form 2210 and pay it with her taxes when she files her tax return. Free state and federal tax returns Lori's required annual payment is $12,400 (100% of 2012 tax) because that is smaller than 90% of her 2013 tax. Free state and federal tax returns Different 2012 filing status. Free state and federal tax returns    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, see 2012 joint return and 2013 separate returns , earlier, to figure the amount to enter as your 2012 tax on line 8 of Form 2210. Free state and federal tax returns Short Method for Figuring the Penalty (Part III) You may be able to use the short method in Part III of Form 2210 to figure your penalty for underpayment of estimated tax. Free state and federal tax returns If you qualify to use this method, it will result in the same penalty amount as the regular method. Free state and federal tax returns However, either the annualized income installment method or the actual withholding method, explained later, may result in a smaller penalty. Free state and federal tax returns You can use the short method only if you meet one of the following requirements. Free state and federal tax returns You made no estimated tax payments for 2013 (it does not matter whether you had income tax withholding). Free state and federal tax returns You paid the same amount of estimated tax on each of the four payment due dates. Free state and federal tax returns If you do not meet either requirement, figure your penalty using the regular method in Part IV of Form 2210 and the Penalty Worksheet in the instructions. Free state and federal tax returns Note. Free state and federal tax returns If any payment was made before the due date, you can use the short method, but the penalty may be less if you use the regular method. Free state and federal tax returns However, if the payment was only a few days early, the difference is likely to be small. Free state and federal tax returns You cannot use the short method if any of the following apply. Free state and federal tax returns You made any estimated tax payments late. Free state and federal tax returns You checked box C or D in Part II of Form 2210. Free state and federal tax returns You are filing Form 1040NR or 1040NR-EZ and you did not receive wages as an employee subject to U. Free state and federal tax returns S. Free state and federal tax returns income tax withholding. Free state and federal tax returns If you use the short method, you cannot use the annualized income installment method to figure your underpayment for each payment period. Free state and federal tax returns Also, you cannot use your actual withholding during each period to figure your payments for each period. Free state and federal tax returns These methods, which may give you a smaller penalty amount, are explained under Figuring Your Underpayment (Part IV, Section A). Free state and federal tax returns Complete Part III of Form 2210 following the line-by-line instructions in the Instructions for Form 2210. Free state and federal tax returns Regular Method for Figuring the Penalty (Part IV) You can use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if you paid one or more estimated tax payments earlier than the due date. Free state and federal tax returns You must use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if any of the following apply to you. Free state and federal tax returns You paid one or more estimated tax payments on a date after the due date. Free state and federal tax returns You paid at least one, but less than four, installments of estimated tax. Free state and federal tax returns You paid estimated tax payments in un- equal amounts. Free state and federal tax returns You use the annualized income installment method to figure your underpayment for each payment period. Free state and federal tax returns You use your actual withholding during each payment period to figure your payments. Free state and federal tax returns Under the regular method, figure your underpayment for each payment period in Section A, then figure your penalty using the Penalty Worksheet in the Instructions for Form 2210. Free state and federal tax returns Enter the results on line 27 of Section B. Free state and federal tax returns Figuring Your Underpayment (Part IV, Section A) Figure your underpayment of estimated tax for each payment period in Section A following the line-by-line instructions in the Instructions for Form 2210. Free state and federal tax returns Complete lines 20 through 26 of the first column before going to line 20 of the next column. Free state and federal tax returns Required installments—line 18. Free state and federal tax returns   Your required payment for each payment period (line 18) is usually one-fourth of your required annual payment (Part I, line 9). Free state and federal tax returns This method—the regular method—is the one to use if you received your income evenly throughout the year. Free state and federal tax returns   However, if you did not receive your income evenly throughout the year, you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. Free state and federal tax returns First complete Schedule AI (Form 2210), then enter the amounts from line 25 of that schedule on line 18 of Form 2210, Part IV. Free state and federal tax returns See Annualized Income Installment Method (Schedule AI), later. Free state and federal tax returns Payments made—line 19. Free state and federal tax returns   Enter in each column the total of: Your estimated tax paid after the due date for the previous column and by the due date shown at the top of the column, and One-fourth of your withholding. Free state and federal tax returns For special rules for figuring your payments, see Form 2210 instructions for line 19. Free state and federal tax returns   If you file Form 1040, your withholding is the amount on line 62, plus any excess social security or tier 1 RRTA tax withholding on line 69. Free state and federal tax returns If you file Form 1040A, your withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included in line 41. Free state and federal tax returns Actual withholding method. Free state and federal tax returns    Instead of using one-fourth of your withholding for each quarter, you can choose to use the amounts actually withheld by each due date. Free state and federal tax returns You can make this choice separately for the tax withheld from your wages and for all other withholding. Free state and federal tax returns This includes any excess social security and tier 1 RRTA tax withheld. Free state and federal tax returns   Using your actual withholding may result in a smaller penalty if most of your withholding occurred early in the year. Free state and federal tax returns   If you use your actual withholding, you must check box D in Form 2210, Part II. Free state and federal tax returns Then complete Form 2210 using the regular method (Part IV) and file it with your return. Free state and federal tax returns Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Figure the amount of your penalty for Section B using the Penalty Worksheet in the Form 2210 instructions. Free state and federal tax returns The penalty is imposed on each underpayment amount shown on Form 2210, Section A, line 25, for the number of days that it remained unpaid. Free state and federal tax returns For 2013, there are four rate periods—April 16 through June 30, July 1 through September 30, October 1 through December 31, and January 1, 2014 through April 15, 2014. Free state and federal tax returns A 3% rate applies to all four periods. Free state and federal tax returns Payments. Free state and federal tax returns    Before completing the Penalty Worksheet, it may be helpful to make a list of the payments you made and income tax withheld after the due date (or the last day payments could be made on time) for the earliest payment period an underpayment occurred. Free state and federal tax returns For example, if you had an underpayment for the first payment period, list your payments after April 15, 2013. Free state and federal tax returns You can use the table in the Form 2210 instructions to make your list. Free state and federal tax returns Follow those instructions for listing income tax withheld and payments made with your return. Free state and federal tax returns Use the list to determine when each underpayment was paid. Free state and federal tax returns   If you mail your estimated tax payments, use the date of the U. Free state and federal tax returns S. Free state and federal tax returns postmark as the date of payment. Free state and federal tax returns Line 1b. Free state and federal tax returns   Apply the payments listed to underpayment balance in the first column until it is fully paid. Free state and federal tax returns Apply payments in the order made. Free state and federal tax returns Figuring the penalty. Free state and federal tax returns   If an underpayment was paid in two or more payments on different dates, you must figure the penalty separately for each payment. Free state and federal tax returns On line 3 of the Penalty Worksheet enter the number of days between the due date (line 2) and the date of each payment on line 1b. Free state and federal tax returns On line 4 figure the penalty for the amount of each payment applied on line 1b or the amount remaining unpaid. Free state and federal tax returns If no payments are applied, figure the penalty on the amount on line 1a. Free state and federal tax returns Aid for counting days. Free state and federal tax returns    Table 4-1 provides a simple method for counting the number of days between a due date and a payment date. Free state and federal tax returns Find the number for the date the payment was due by going across to the column of the month the payment was due and moving down the column to the due date. Free state and federal tax returns In the same manner, find the number for the date the payment was made. Free state and federal tax returns Subtract the due date “number” from the payment date “number. Free state and federal tax returns ”   For example, if a payment was due on June 15 (61), but was not paid until September 1 (139), the payment was 78 (139 – 61) days late. Free state and federal tax returns Table 4-1. Free state and federal tax returns Calendar To Determine the Number of Days a Payment Is Late Instructions. Free state and federal tax returns Use this table with Form 2210 if you are completing Part IV, Section B. Free state and federal tax returns First, find the number for the payment due date by going across to the column of the month the payment was due and moving down the column to the due date. Free state and federal tax returns Then, in the same manner, find the number for the date the payment was made. Free state and federal tax returns Finally, subtract the due date number from the payment date number. Free state and federal tax returns The result is the number of days the payment is late. Free state and federal tax returns Example. Free state and federal tax returns The payment due date is June 15 (61). Free state and federal tax returns The payment was made on November 4 (203). Free state and federal tax returns The payment is 142 days late (203 – 61). Free state and federal tax returns Tax Year 2013 Day of 2013 2013 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2014 Month April May June July Aug. Free state and federal tax returns Sept. Free state and federal tax returns Oct. Free state and federal tax returns Nov. Free state and federal tax returns Dec. Free state and federal tax returns Jan. Free state and federal tax returns Feb. Free state and federal tax returns Mar. Free state and federal tax returns Apr. Free state and federal tax returns 1   16 47 77 108 139 169 200 230 261 292 320 351 2   17 48 78 109 140 170 201 231 262 293 321 352 3   18 49 79 110 141 171 202 232 263 294 322 353 4   19 50 80 111 142 172 203 233 264 295 323 354 5   20 51 81 112 143 173 204 234 265 296 324 355 6   21 52 82 113 144 174 205 235 266 297 325 356 7   22 53 83 114 145 175 206 236 267 298 326 357 8   23 54 84 115 146 176 207 237 268 299 327 358 9   24 55 85 116 147 177 208 238 269 300 328 359 10   25 56 86 117 148 178 209 239 270 301 329 360 11   26 57 87 118 149 179 210 240 271 302 330 361 12   27 58 88 119 150 180 211 241 272 303 331 362 13   28 59 89 120 151 181 212 242 273 304 332 363 14   29 60 90 121 152 182 213 243 274 305 333 364 15 0 30 61 91 122 153 183 214 244 275 306 334 365 16 1 31 62 92 123 154 184 215 245 276 307 335   17 2 32 63 93 124 155 185 216 246 277 308 336   18 3 33 64 94 125 156 186 217 247 278 309 337   19 4 34 65 95 126 157 187 218 248 279 310 338   20 5 35 66 96 127 158 188 219 249 280 311 339   21 6 36 67 97 128 159 189 220 250 281 312 340   22 7 37 68 98 129 160 190 221 251 282 313 341   23 8 38 69 99 130 161 191 222 252 283 314 342   24 9 39 70 100 131 162 192 223 253 284 315 343   25 10 40 71 101 132 163 193 224 254 285 316 344   26 11 41 72 102 133 164 194 225 255 286 317 345   27 12 42 73 103 134 165 195 226 256 287 318 346   28 13 43 74 104 135 166 196 227 257 288 319 347   29 14 44 75 105 136 167 197 228 258 289   348   30 15 45 76 106 137 168 198 229 259 290   349   31   46   107 138   199   260 291   350   Annualized Income Installment Method (Schedule AI) If you did not receive your income evenly throughout the year (for example, your income from a shop you operated at a marina was much larger in the summer than it was during the rest of the year), you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. Free state and federal tax returns Under this method, your required installment (Part IV, line 18) for one or more payment periods may be less than one-fourth of your required annual payment. Free state and federal tax returns To figure your underpayment using this method, complete Form 2210, Schedule AI. Free state and federal tax returns Schedule AI annualizes your tax at the end of each payment period based on your income, deductions, and other items relating to events that occurred from the beginning of the tax year through the end of the period. Free state and federal tax returns If you use the annualized income installment method, you must check box C in Part II of Form 2210. Free state and federal tax returns Also, you must attach Form 2210 and Schedule AI to your return. Free state and federal tax returns If you use Schedule AI for any payment due date, you must use it for all payment due dates. Free state and federal tax returns Completing Schedule AI. Free state and federal tax returns   Follow the Form 2210 instructions to complete Schedule AI. Free state and federal tax returns For each period shown on Schedule AI, figure your income and deductions based on your method of accounting. Free state and federal tax returns If you use the cash method of accounting (used by most people), include all income actually or constructively received during the period and all deductions actually paid during the period. Free state and federal tax returns Note. Free state and federal tax returns Each period includes amounts from the previous period(s). Free state and federal tax returns Period (a) includes items for January 1 through March 31. Free state and federal tax returns Period (b) includes items for January 1 through May 31. Free state and federal tax returns Period (c) includes items for January 1 through August 31. Free state and federal tax returns Period (d) includes items for the entire year. Free state and federal tax returns Farmers and Fishermen If you are a farmer or fisherman, the following special rules for underpayment of estimated tax apply to you. Free state and federal tax returns The penalty for underpaying your 2013 estimated tax will not apply if you file your return and pay all the tax due by March 3, 2014. Free state and federal tax returns If you are a fiscal year taxpayer, the penalty will not apply if you file your return and pay the tax due by the first day of the third month after the end of your tax year. Free state and federal tax returns Any penalty you owe for underpaying your 2013 estimated tax will be figured from one payment due date, January 15, 2014. Free state and federal tax returns The underpayment penalty for 2013 is figured on the difference between the amount of 2013 withholding plus estimated tax paid by the due date and the smaller of: 662/3% (rather than 90%) of your 2013 tax, or 100% of the tax shown on your 2012 return. Free state and federal tax returns Even if these special rules apply to you, you will not owe the penalty if you meet either of the two conditions discussed under Exceptions . Free state and federal tax returns See Who Must Pay Estimated Tax in chapter 2 for the definition of a farmer or fisherman who is eligible for these special rules. Free state and federal tax returns Form 2210-F. Free state and federal tax returns   Use Form 2210-F to figure any underpayment penalty. Free state and federal tax returns Do not attach it to your return unless you check a box in Part I. Free state and federal tax returns However, if none of the boxes apply to you and you owe a penalty, you do not need to attach Form 2210-F. Free state and federal tax returns Enter the amount from line 16 on Form 1040, line 77 and add the penalty to any balance due on your return or subtract it from your refund. Free state and federal tax returns Keep your filled-in Form 2210-F for your records. Free state and federal tax returns    If none of the boxes on Form 2210-F apply to you and you owe a penalty, the IRS can figure your penalty and send you a bill. Free state and federal tax returns Waiver of Penalty The IRS can waive the penalty for underpayment if either of the following applies. Free state and federal tax returns You did not make a payment because of a casualty, disaster, or other unusual circumstance and it would be inequitable to impose the penalty. Free state and federal tax returns You retired (after reaching age 62) or became disabled in 2012 or 2013 and both the following requirements are met. Free state and federal tax returns You had a reasonable cause for not making the payment. Free state and federal tax returns Your underpayment was not due to willful neglect. Free state and federal tax returns How to request a waiver. Free state and federal tax returns   To request a waiver, see the Instructions for Form 2210. Free state and federal tax returns Farmers and fishermen. Free state and federal tax returns   To request a waiver, see the Instructions for Form 2210-F. Free state and federal tax returns Federally declared disaster. Free state and federal tax returns   Certain estimated tax payment deadlines for taxpayers who reside or have a business in a federally declared disaster area are postponed for a period during and after the disaster. Free state and federal tax returns During the processing of your tax return, the IRS automatically identifies taxpayers located in a covered disaster area (by county or parish) and applies the appropriate penalty relief. Free state and federal tax returns Do not file Form 2210 or 2210-F if your underpayment was due to a federally declared disaster. Free state and federal tax returns If you still owe a penalty after the automatic waiver is applied, we will send you a bill. Free state and federal tax returns   Individuals, estates, and trusts not in a covered disaster area but whose books, records, or tax professionals' offices are in a covered area are also entitled to relief. Free state and federal tax returns Also eligible are relief workers affiliated with a recognized government or charitable organization assisting in the relief activities in a covered disaster area. Free state and federal tax returns If you meet either of these eligibility requirements, you must call the IRS disaster hotline at 1-866-562-5227 and identify yourself as eligible for this relief. Free state and federal tax returns   Details on the applicable disaster postponement period can be found at IRS. Free state and federal tax returns gov. Free state and federal tax returns Enter Tax Relief in Disaster Situations. Free state and federal tax returns Select the federally declared disaster that affected you. Free state and federal tax returns    Worksheet 4-1. Free state and federal tax returns 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Note. Free state and federal tax returns To figure the annualized entries for lines 2, 3, and 5 below, multiply the expected amount for the period by the  annualization amount on line 2 of Schedule AI for the same period. Free state and federal tax returns                   1. Free state and federal tax returns Enter line 11 of your Schedule AI, or line 3 from Worksheet 4-2 1. Free state and federal tax returns       2. Free state and federal tax returns Enter your annualized qualified dividends for the period 2. Free state and federal tax returns           3. Free state and federal tax returns Are you filing Schedule D?               □ Yes. Free state and federal tax returns Enter the smaller of your annualized amount from line 15 or line 16 of Schedule D. Free state and federal tax returns If either line 15 or line 16 is blank or a loss, enter -0-. Free state and federal tax returns 3. Free state and federal tax returns             □ No. Free state and federal tax returns Enter your annualized capital gain distributions from Form 1040, line 13             4. Free state and federal tax returns Add lines 2 and 3   4. Free state and federal tax returns           5. Free state and federal tax returns If you are claiming investment interest expense on Form 4952, enter your annualized amount from line 4g of that form. Free state and federal tax returns Otherwise, enter -0-   5. Free state and federal tax returns           6. Free state and federal tax returns Subtract line 5 from line 4. Free state and federal tax returns If zero or less, enter -0- 6. Free state and federal tax returns       7. Free state and federal tax returns Subtract line 6 from line 1. Free state and federal tax returns If zero or less, enter -0- 7. Free state and federal tax returns       8. Free state and federal tax returns Enter: $36,900 if single or married filing separately, $73,800 if married filing jointly or qualifying widow(er), $49,400 if head of household. Free state and federal tax returns 8. Free state and federal tax returns       9. Free state and federal tax returns Enter the smaller of line 1 or line 8 9. Free state and federal tax returns       10. Free state and federal tax returns Enter the smaller of line 7 or line 9 10. Free state and federal tax returns       11. Free state and federal tax returns Subtract line 10 from line 9. Free state and federal tax returns This amount is taxed at 0% 11. Free state and federal tax returns       12. Free state and federal tax returns Enter the smaller of line 1 or line 6 12. Free state and federal tax returns       13. Free state and federal tax returns Enter the amount from line 11 13. Free state and federal tax returns       14. Free state and federal tax returns Subtract line 13 from line 12 14. Free state and federal tax returns       15. Free state and federal tax returns Multiply line 14 by 15% (. Free state and federal tax returns 15) 15. Free state and federal tax returns   16. Free state and federal tax returns Figure the tax on the amount on line 7. Free state and federal tax returns If the amount on line 7 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Free state and federal tax returns If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 16. Free state and federal tax returns   17. Free state and federal tax returns Add lines 15 and 16 17. Free state and federal tax returns   18. Free state and federal tax returns Figure the tax on the amount on line 1. Free state and federal tax returns If the amount on line 1 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Free state and federal tax returns If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 18. Free state and federal tax returns   19. Free state and federal tax returns Tax on all taxable income. Free state and federal tax returns Enter the smaller of line 17 or line 18. Free state and federal tax returns Also enter this amount on line 12 of Schedule AI in the appropriate column. Free state and federal tax returns However, if you are using this worksheet to figure the tax on the amount on line 3 of Worksheet 4-2, enter the amount from line 19 on Worksheet 4-2, line 4 19. Free state and federal tax returns   Worksheet 4-2. Free state and federal tax returns 2013 Form 2210, Schedule AI—Line 12 Foreign Earned Income Tax Worksheet Before you begin:If Schedule AI, line 11, is zero for the period, do not complete this worksheet. Free state and federal tax returns             1. Free state and federal tax returns Enter the amount from line 11 of Schedule AI for the period 1. Free state and federal tax returns   2. Free state and federal tax returns Enter the annualized amount* of foreign earned income and housing amount excluded or deducted (from  Form 2555, lines 45 and 50, or Form 2555-EZ, line 18) in figuring the amount entered for the period on line 1  of Schedule AI 2. Free state and federal tax returns   3. Free state and federal tax returns Add lines 1 and 2 3. Free state and federal tax returns   4. Free state and federal tax returns Tax on the amount on line 3. Free state and federal tax returns Use the Tax Table, Tax Computation Worksheet, Form 8615**, Qualified Dividends and Capital Gain Tax Worksheet***, or Schedule D Tax Worksheet***, whichever applies. Free state and federal tax returns See the 2013 Instructions for Form 1040, line 44, to find out which tax computation method to use. Free state and federal tax returns (Note. Free state and federal tax returns You do not have to use the same method for each period on Schedule AI. Free state and federal tax returns ) 4. Free state and federal tax returns   5. Free state and federal tax returns Tax on the amount on line 2. Free state and federal tax returns If the amount on line 2 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Free state and federal tax returns If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 5. Free state and federal tax returns   6. Free state and federal tax returns Subtract line 5 from line 4. Free state and federal tax returns Enter the result here and on line 12 of Schedule AI. Free state and federal tax returns If zero or less,  enter -0- 6. Free state and federal tax returns             * To figure the annualized amount for line 2, multiply the exclusion or deduction for the period by the annualization amount on line 2 of Schedule AI for the same period. Free state and federal tax returns     ** If you use Form 8615 to figure the tax on line 4 above, enter the amount from line 3 above on line 4 of Form 8615. Free state and federal tax returns If the child's parent files Form 2555 or 2555-EZ, enter the amounts from lines 3 and 4 of the parent's Foreign Earned Income Tax Worksheet on lines 6 and 10, respectively, of Form 8615. Free state and federal tax returns Complete the rest of Form 8615 according to its instructions. Free state and federal tax returns Then complete lines 5 and 6 above. Free state and federal tax returns     *** Enter the amount from line 3 above on line 1 of the Qualified Dividends and Capital Gain Tax Worksheet (or Worksheet 4-1 in this chapter) or the Schedule D Tax Worksheet, whichever worksheet you use to figure the tax on line 4 above. Free state and federal tax returns Complete that worksheet through line 6 (line 10 if you use the Schedule D Tax Worksheet). Free state and federal tax returns Next, determine if you have a capital gain excess. Free state and federal tax returns     Figuring capital gain excess. Free state and federal tax returns To find out if you have a capital gain excess for the appropriate period, subtract line 11 of Schedule AI from line 6 of Worksheet 4-1 or your Qualified Dividends and Capital Gain Tax Worksheet (line 10 of your Schedule D Tax Worksheet). Free state and federal tax returns If the result is more than zero, that amount is your capital gain excess. Free state and federal tax returns     No capital gain excess. Free state and federal tax returns If you do not have a capital gain excess, complete the rest of Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or the Schedule D Tax Worksheet according to the worksheet's instructions. Free state and federal tax returns Then complete lines 5 and 6 above. Free state and federal tax returns     Capital gain excess. Free state and federal tax returns If you have a capital gain excess, complete a second Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or Schedule D Tax Worksheet (whichever applies) as instructed above but in its entirety and with the following additional modifications. Free state and federal tax returns Then complete lines 5 and 6 above. Free state and federal tax returns     Make the modifications below only for purposes of filling out Worksheet 4-2 above. Free state and federal tax returns     a. Free state and federal tax returns Reduce (but not below zero) the amount you otherwise would enter on line 3 of your Worksheet 4-1, line 3 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 9 of your Schedule D Tax Worksheet by your capital gain excess. Free state and federal tax returns     b. Free state and federal tax returns Reduce (but not below zero) the amount you otherwise would enter on line 2 of your Worksheet 4-1, line 2 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 6 of your Schedule D Tax Worksheet by any of your capital gain excess not used in (a) above. Free state and federal tax returns     c. Free state and federal tax returns Reduce (but not below zero) the amount on your Schedule D (Form 1040), line 18, by your capital gain excess. Free state and federal tax returns     d. Free state and federal tax returns Include your capital gain excess as a loss on line 16 of your Unrecaptured Section 1250 Gain Worksheet in the 2013 Instructions for Schedule D (Form 1040). Free state and federal tax returns   Prev  Up  Next   Home   More Online Publications