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How To File 2012 Taxes

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How To File 2012 Taxes

How to file 2012 taxes Part One -   Fuel Taxes and Fuel Tax Credits and Refunds Chapter 1 defines the types of fuel, taxable events, and exemptions or exceptions to the fuel taxes. How to file 2012 taxes Chapter 2 provides information on, and definitions of, the nontaxable uses and explains how to make a claim. How to file 2012 taxes Table of Contents 1. How to file 2012 taxes   Fuel TaxesDefinitions Information Returns Registration RequirementsAdditional information. How to file 2012 taxes Gasoline and Aviation GasolineTaxable Events Gasoline Blendstocks Diesel Fuel and KeroseneTaxable Events Dyed Diesel Fuel and Dyed Kerosene Alaska and Feedstocks Back-up Tax Diesel-Water Fuel Emulsion Kerosene for Use in AviationTaxable Events Liability For Tax Surtax on any liquid used in a fractional ownership program aircraft as fuel Certificate for Commercial Aviation and Exempt UsesExempt use. How to file 2012 taxes Reseller statement. How to file 2012 taxes Other Fuels (Including Alternative Fuels)Taxable Events Compressed Natural Gas (CNG)Taxable Events Fuels Used on Inland WaterwaysFishing vessels. How to file 2012 taxes Deep-draft ocean-going vessels. How to file 2012 taxes Passenger vessels. How to file 2012 taxes Ocean-going barges. How to file 2012 taxes State or local governments. How to file 2012 taxes Cellulosic or Second Generation Biofuel Not Used as Fuel Biodiesel Sold as But Not Used as Fuel 2. How to file 2012 taxes   Fuel Tax Credits and RefundsGasoline and Aviation Gasoline Undyed Diesel Fuel and Undyed Kerosene (Other Than Kerosene Used in Aviation)Sales by Registered Ultimate Vendors Diesel-Water Fuel Emulsion Kerosene for Use in AviationSales by Registered Ultimate Vendors Other Fuels (Including Alternative Fuels) Refunds of Second TaxOptional reporting. How to file 2012 taxes Providing information. How to file 2012 taxes Definitions of Nontaxable UsesCustom application of fertilizer and pesticide. How to file 2012 taxes Fuel used between airfield and farm. How to file 2012 taxes Fuel not used for farming. How to file 2012 taxes Vehicles not considered highway vehicles. How to file 2012 taxes Biodiesel or Renewable Diesel Mixture Credit, Alternative Fuel Credit, and Alternative Fuel Mixture CreditHow to Claim the Credit Filing Claims Claiming A Refund Claiming a Credit on Form 4136 Including the Credit or Refund in Income Prev  Up  Next   Home   More Online Publications
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IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply

IR-2014-36, March. 25, 2014

WASHINGTON — The Internal Revenue Service today issued a notice providing answers to frequently asked questions (FAQs) on virtual currency, such as bitcoin. These FAQs provide basic information on the U.S. federal tax implications of transactions in, or transactions that use, virtual currency.

In some environments, virtual currency operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.  General tax principles that apply to property transactions apply to transactions using virtual currency.  Among other things, this means that:

  • Wages paid to employees using virtual currency are taxable to the employee, must be reported by an employer on a Form W-2, and are subject to federal income tax withholding and payroll taxes.
  • Payments using virtual currency made to independent contractors and other service providers are taxable and self-employment tax rules generally apply.  Normally, payers must issue Form 1099.
  • The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
  • A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property. 

Further details, including a set of 16 questions and answers, are in Notice 2014-21, posted today on IRS.gov.

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Page Last Reviewed or Updated: 25-Mar-2014

The How To File 2012 Taxes

How to file 2012 taxes Publication 597 - Introductory Material Table of Contents Introduction Introduction This publication provides information on the income tax treaty between the United States and Canada. How to file 2012 taxes It discusses a number of treaty provisions that often apply to U. How to file 2012 taxes S. How to file 2012 taxes citizens or residents who may be liable for Canadian tax. How to file 2012 taxes Treaty provisions are generally reciprocal (the same rules apply to both treaty countries). How to file 2012 taxes Therefore, a Canadian resident who receives income from the United States may refer to this publication to see if a treaty provision may affect the tax to be paid to the United States. How to file 2012 taxes This publication does not deal with Canadian income tax laws; nor does it provide Canada's interpretation of treaty articles, definitions, or specific terms not defined in the treaty itself. How to file 2012 taxes The United States—Canada income tax treaty was signed on September 26, 1980. How to file 2012 taxes It has been amended by five protocols, the most recent of which generally became effective January 1, 2009. How to file 2012 taxes In this publication, the term “article” refers to the particular article of the treaty, as amended. How to file 2012 taxes Prev  Up  Next   Home   More Online Publications