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How To Refile Taxes For 2012

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How To Refile Taxes For 2012

How to refile taxes for 2012 5. How to refile taxes for 2012   Business Income Table of Contents Introduction Kinds of IncomeBartering for Property or Services Real Estate Rents Personal Property Rents Interest and Dividend Income Canceled Debt Other Income Items That Are Not IncomeAmount you can exclude. How to refile taxes for 2012 Short-term lease. How to refile taxes for 2012 Retail space. How to refile taxes for 2012 Qualified long-term real property. How to refile taxes for 2012 Guidelines for Selected Occupations Accounting for Your Income Introduction This chapter primarily explains business income and how to account for it on your tax return, what items are not considered income, and gives guidelines for selected occupations. How to refile taxes for 2012 If there is a connection between any income you receive and your business, the income is business income. How to refile taxes for 2012 A connection exists if it is clear that the payment of income would not have been made if you did not have the business. How to refile taxes for 2012 You can have business income even if you are not involved in the activity on a regular full-time basis. How to refile taxes for 2012 Income from work you do on the side in addition to your regular job can be business income. How to refile taxes for 2012 You report most business income, such as income from selling your products or services, on Schedule C or C-EZ. How to refile taxes for 2012 But you report the income from the sale of business assets, such as land and office buildings, on other forms instead of Schedule C or C-EZ. How to refile taxes for 2012 For information on selling business assets, see chapter 3. How to refile taxes for 2012 Nonemployee compensation. How to refile taxes for 2012 Business income includes amounts you received in your business that were properly shown on Forms 1099-MISC. How to refile taxes for 2012 This includes amounts reported as nonemployee compensation in box 7 of the form. How to refile taxes for 2012 You can find more information in the instructions on the back of the Form 1099-MISC you received. How to refile taxes for 2012 Kinds of Income You must report on your tax return all income you receive from your business unless it is excluded by law. How to refile taxes for 2012 In most cases, your business income will be in the form of cash, checks, and credit card charges. How to refile taxes for 2012 But business income can be in other forms, such as property or services. How to refile taxes for 2012 These and other types of income are explained next. How to refile taxes for 2012 If you are a U. How to refile taxes for 2012 S. How to refile taxes for 2012 citizen who has business income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt from tax under U. How to refile taxes for 2012 S. How to refile taxes for 2012 law. How to refile taxes for 2012 If you live outside the United States, you may be able to exclude part or all of your foreign-source business income. How to refile taxes for 2012 For details, see Publication 54, Tax Guide for U. How to refile taxes for 2012 S. How to refile taxes for 2012 Citizens and Resident Aliens Abroad. How to refile taxes for 2012 Bartering for Property or Services Bartering is an exchange of property or services. How to refile taxes for 2012 You must include in your gross receipts, at the time received, the fair market value of property or services you receive in exchange for something else. How to refile taxes for 2012 If you exchange services with another person and you both have agreed ahead of time on the value of the services, that value will be accepted as the fair market value unless the value can be shown to be otherwise. How to refile taxes for 2012 Example 1. How to refile taxes for 2012 You are a self-employed lawyer. How to refile taxes for 2012 You perform legal services for a client, a small corporation. How to refile taxes for 2012 In payment for your services, you receive shares of stock in the corporation. How to refile taxes for 2012 You must include the fair market value of the shares in income. How to refile taxes for 2012 Example 2. How to refile taxes for 2012 You are an artist and create a work of art to compensate your landlord for the rent-free use of your apartment. How to refile taxes for 2012 You must include the fair rental value of the apartment in your gross receipts. How to refile taxes for 2012 Your landlord must include the fair market value of the work of art in his or her rental income. How to refile taxes for 2012 Example 3. How to refile taxes for 2012 You are a self-employed accountant. How to refile taxes for 2012 Both you and a house painter are members of a barter club, an organization that each year gives its members a directory of members and the services each member provides. How to refile taxes for 2012 Members get in touch with other members directly and bargain for the value of the services to be performed. How to refile taxes for 2012 In return for accounting services you provided for the house painter's business, the house painter painted your home. How to refile taxes for 2012 You must include in gross receipts the fair market value of the services you received from the house painter. How to refile taxes for 2012 The house painter must include the fair market value of your accounting services in his or her gross receipts. How to refile taxes for 2012 Example 4. How to refile taxes for 2012 You are a member of a barter club that uses credit units to credit or debit members' accounts for goods or services provided or received. How to refile taxes for 2012 As soon as units are credited to your account, you can use them to buy goods or services or sell or transfer the units to other members. How to refile taxes for 2012 You must include the value of credit units you received in your gross receipts for the tax year in which the units are credited to your account. How to refile taxes for 2012 The dollar value of units received for services by an employee of the club, who can use the units in the same manner as other members, must be included in the employee's gross income for the tax year in which received. How to refile taxes for 2012 It is wages subject to social security and Medicare taxes (FICA), federal unemployment taxes (FUTA), and income tax withholding. How to refile taxes for 2012 See Publication 15 (Circular E), Employer's Tax Guide. How to refile taxes for 2012 Example 5. How to refile taxes for 2012 You operate a plumbing business and use the cash method of accounting. How to refile taxes for 2012 You join a barter club and agree to provide plumbing services to any member for a specified number of hours. How to refile taxes for 2012 Each member has access to a directory that lists the members of the club and the services available. How to refile taxes for 2012 Members contact each other directly and request services to be performed. How to refile taxes for 2012 You are not required to provide services unless requested by another member, but you can use as many of the offered services as you wish without paying a fee. How to refile taxes for 2012 You must include the fair market value of any services you receive from club members in your gross receipts when you receive them even if you have not provided any services to club members. How to refile taxes for 2012 Information returns. How to refile taxes for 2012   If you are involved in a bartering transaction, you may have to file either of the following forms. How to refile taxes for 2012 Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. How to refile taxes for 2012 Form 1099-MISC, Miscellaneous Income. How to refile taxes for 2012 For information about these forms, see the General Instructions for Certain Information Returns. How to refile taxes for 2012 Real Estate Rents If you are a real estate dealer who receives income from renting real property or an owner of a hotel, motel, etc. How to refile taxes for 2012 , who provides services (maid services, etc. How to refile taxes for 2012 ) for guests, report the rental income and expenses on Schedule C or C-EZ. How to refile taxes for 2012 If you are not a real estate dealer or the kind of owner described in the preceding sentence, report the rental income and expenses on Schedule E. How to refile taxes for 2012 For more information, see Publication 527, Residential Rental Property (Including Rental of Vacation Homes). How to refile taxes for 2012 Real estate dealer. How to refile taxes for 2012   You are a real estate dealer if you are engaged in the business of selling real estate to customers with the purpose of making a profit from those sales. How to refile taxes for 2012 Rent you receive from real estate held for sale to customers is subject to SE tax. How to refile taxes for 2012 However, rent you receive from real estate held for speculation or investment is not subject to SE tax. How to refile taxes for 2012 Trailer park owner. How to refile taxes for 2012   Rental income from a trailer park is subject to SE tax if you are a self-employed trailer park owner who provides trailer lots and facilities and substantial services for the convenience of your tenants. How to refile taxes for 2012    You generally are considered to provide substantial services for tenants if they are primarily for the tenants' convenience and normally are not provided to maintain the lots in a condition for occupancy. How to refile taxes for 2012 Services are substantial if the compensation for the services makes up a material part of the tenants' rental payments. How to refile taxes for 2012   Examples of services that are not normally provided for the tenants' convenience include supervising and maintaining a recreational hall provided by the park, distributing a monthly newsletter to tenants, operating a laundry facility, and helping tenants buy or sell their trailers. How to refile taxes for 2012   Examples of services that are normally provided to maintain the lots in a condition for tenant occupancy include city sewerage, electrical connections, and roadways. How to refile taxes for 2012 Hotels, boarding houses, and apartments. How to refile taxes for 2012   Rental income you receive for the use or occupancy of hotels, boarding houses, or apartment houses is subject to SE tax if you provide services for the occupants. How to refile taxes for 2012   Generally, you are considered to provide services for the occupants if the services are primarily for their convenience and are not services normally provided with the rental of rooms for occupancy only. How to refile taxes for 2012 An example of a service that is not normally provided for the convenience of the occupants is maid service. How to refile taxes for 2012 However, providing heat and light, cleaning stairways and lobbies, and collecting trash are services normally provided for the occupants' convenience. How to refile taxes for 2012 Prepaid rent. How to refile taxes for 2012   Advance payments received under a lease that does not put any restriction on their use or enjoyment are income in the year you receive them. How to refile taxes for 2012 This is true no matter what accounting method or period you use. How to refile taxes for 2012 Lease bonus. How to refile taxes for 2012   A bonus you receive from a lessee for granting a lease is an addition to the rent. How to refile taxes for 2012 Include it in your gross receipts in the year received. How to refile taxes for 2012 Lease cancellation payments. How to refile taxes for 2012   Report payments you receive from your lessee for canceling a lease in your gross receipts in the year received. How to refile taxes for 2012 Payments to third parties. How to refile taxes for 2012   If your lessee makes payments to someone else under an agreement to pay your debts or obligations, include the payments in your gross receipts when the lessee makes the payments. How to refile taxes for 2012 A common example of this kind of income is a lessee's payment of your property taxes on leased real property. How to refile taxes for 2012 Settlement payments. How to refile taxes for 2012   Payments you receive in settlement of a lessee's obligation to restore the leased property to its original condition are income in the amount that the payments exceed the adjusted basis of the leasehold improvements destroyed, damaged, removed, or disconnected by the lessee. How to refile taxes for 2012 Personal Property Rents If you are in the business of renting personal property (equipment, vehicles, formal wear, etc. How to refile taxes for 2012 ), include the rental amount you receive in your gross receipts on Schedule C or C-EZ. How to refile taxes for 2012 Prepaid rent and other payments described in the preceding Real Estate Rents discussion can also be received for renting personal property. How to refile taxes for 2012 If you receive any of those payments, include them in your gross receipts as explained in that discussion. How to refile taxes for 2012 Interest and Dividend Income Interest and dividends may be considered business income. How to refile taxes for 2012 Interest. How to refile taxes for 2012   Interest received on notes receivable that you have accepted in the ordinary course of business is business income. How to refile taxes for 2012 Interest received on loans is business income if you are in the business of lending money. How to refile taxes for 2012 Uncollectible loans. How to refile taxes for 2012   If a loan payable to you becomes uncollectible during the tax year and you use an accrual method of accounting, you must include in gross income interest accrued up to the time the loan became uncollectible. How to refile taxes for 2012 If the accrued interest later becomes uncollectible, you may be able to take a bad debt deduction. How to refile taxes for 2012 See Bad Debts in chapter 8. How to refile taxes for 2012 Unstated interest. How to refile taxes for 2012   If little or no interest is charged on an installment sale, you may have to treat a part of each payment as unstated interest. How to refile taxes for 2012 See Unstated Interest and Original Issue Discount (OID) in Publication 537, Installment Sales. How to refile taxes for 2012 Dividends. How to refile taxes for 2012   Generally, dividends are business income to dealers in securities. How to refile taxes for 2012 For most sole proprietors and statutory employees, however, dividends are nonbusiness income. How to refile taxes for 2012 If you hold stock as a personal investment separately from your business activity, the dividends from the stock are nonbusiness income. How to refile taxes for 2012   If you receive dividends from business insurance premiums you deducted in an earlier year, you must report all or part of the dividend as business income on your return. How to refile taxes for 2012 To find out how much you have to report, see   Recovery of items previously deducted under Other Income, later. How to refile taxes for 2012 Canceled Debt The following explains the general rule for including canceled debt in income and the exceptions to the general rule. How to refile taxes for 2012 General Rule Generally, if your debt is canceled or forgiven, other than as a gift or bequest to you, you must include the canceled amount in your gross income for tax purposes. How to refile taxes for 2012 Report the canceled amount on line 6 of Schedule C if you incurred the debt in your business. How to refile taxes for 2012 If the debt is a nonbusiness debt, report the canceled amount on line 21 of Form 1040. How to refile taxes for 2012 Exceptions The following discussion covers some exceptions to the general rule for canceled debt. How to refile taxes for 2012 Price reduced after purchase. How to refile taxes for 2012   If you owe a debt to the seller for property you bought and the seller reduces the amount you owe, you generally do not have income from the reduction. How to refile taxes for 2012 Unless you are bankrupt or insolvent, treat the amount of the reduction as a purchase price adjustment and reduce your basis in the property. How to refile taxes for 2012 Deductible debt. How to refile taxes for 2012   You do not realize income from a canceled debt to the extent the payment of the debt would have led to a deduction. How to refile taxes for 2012 Example. How to refile taxes for 2012 You get accounting services for your business on credit. How to refile taxes for 2012 Later, you have trouble paying your business debts, but you are not bankrupt or insolvent. How to refile taxes for 2012 Your accountant forgives part of the amount you owe for the accounting services. How to refile taxes for 2012 How you treat the canceled debt depends on your method of accounting. How to refile taxes for 2012 Cash method — You do not include the canceled debt in income because payment of the debt would have been deductible as a business expense. How to refile taxes for 2012 Accrual method — You include the canceled debt in income because the expense was deductible when you incurred the debt. How to refile taxes for 2012   For information on the cash and accrual methods of accounting, see chapter 2. How to refile taxes for 2012 Exclusions Do not include canceled debt in income in the following situations. How to refile taxes for 2012 However, you may be required to file Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. How to refile taxes for 2012 For more information, see Form 982. How to refile taxes for 2012 The cancellation takes place in a bankruptcy case under title 11 of the U. How to refile taxes for 2012 S. How to refile taxes for 2012 Code (relating to bankruptcy). How to refile taxes for 2012 See Publication 908, Bankruptcy Tax Guide. How to refile taxes for 2012 The cancellation takes place when you are insolvent. How to refile taxes for 2012 You can exclude the canceled debt to the extent you are insolvent. How to refile taxes for 2012 See Publication 908. How to refile taxes for 2012 The canceled debt is a qualified farm debt owed to a qualified person. How to refile taxes for 2012 See chapter 3 in Publication 225, Farmer's Tax Guide. How to refile taxes for 2012 The canceled debt is a qualified real property business debt. How to refile taxes for 2012 This situation is explained later. How to refile taxes for 2012 The canceled debt is qualified principal residence indebtedness which is discharged after 2006. How to refile taxes for 2012 See Form 982. How to refile taxes for 2012 If a canceled debt is excluded from income because it takes place in a bankruptcy case, the exclusions in situations 2 through 5 do not apply. How to refile taxes for 2012 If it takes place when you are insolvent, the exclusions in situations 3 and 4 do not apply to the extent you are insolvent. How to refile taxes for 2012 Debt. How to refile taxes for 2012   For purposes of this discussion, debt includes any debt for which you are liable or which attaches to property you hold. How to refile taxes for 2012 Qualified real property business debt. How to refile taxes for 2012   You can elect to exclude (up to certain limits) the cancellation of qualified real property business debt. How to refile taxes for 2012 If you make the election, you must reduce the basis of your depreciable real property by the amount excluded. How to refile taxes for 2012 Make this reduction at the beginning of your tax year following the tax year in which the cancellation occurs. How to refile taxes for 2012 However, if you dispose of the property before that time, you must reduce its basis immediately before the disposition. How to refile taxes for 2012 Cancellation of qualified real property business debt. How to refile taxes for 2012   Qualified real property business debt is debt (other than qualified farm debt) that meets all the following conditions. How to refile taxes for 2012 It was incurred or assumed in connection with real property used in a trade or business. How to refile taxes for 2012 It was secured by such real property. How to refile taxes for 2012 It was incurred or assumed at either of the following times. How to refile taxes for 2012 Before January 1, 1993. How to refile taxes for 2012 After December 31, 1992, if incurred or assumed to acquire, construct, or substantially improve the real property. How to refile taxes for 2012 It is debt to which you choose to apply these rules. How to refile taxes for 2012   Qualified real property business debt includes refinancing of debt described in (3) earlier, but only to the extent it does not exceed the debt being refinanced. How to refile taxes for 2012   You cannot exclude more than either of the following amounts. How to refile taxes for 2012 The excess (if any) of: The outstanding principal of qualified real property business debt (immediately before the cancellation), over The fair market value (immediately before the cancellation) of the business real property that is security for the debt, reduced by the outstanding principal amount of any other qualified real property business debt secured by this property immediately before the cancellation. How to refile taxes for 2012 The total adjusted bases of depreciable real property held by you immediately before the cancellation. How to refile taxes for 2012 These adjusted bases are determined after any basis reduction due to a cancellation in bankruptcy, insolvency, or of qualified farm debt. How to refile taxes for 2012 Do not take into account depreciable real property acquired in contemplation of the cancellation. How to refile taxes for 2012 Election. How to refile taxes for 2012   To make this election, complete Form 982 and attach it to your income tax return for the tax year in which the cancellation occurs. How to refile taxes for 2012 You must file your return by the due date (including extensions). How to refile taxes for 2012 If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). How to refile taxes for 2012 For more information, see When To File in the form instructions. How to refile taxes for 2012 Other Income The following discussion explains how to treat other types of business income you may receive. How to refile taxes for 2012 Restricted property. How to refile taxes for 2012   Restricted property is property that has certain restrictions that affect its value. How to refile taxes for 2012 If you receive restricted stock or other property for services performed, the fair market value of the property in excess of your cost is included in your income on Schedule C or C-EZ when the restriction is lifted. How to refile taxes for 2012 However, you can choose to be taxed in the year you receive the property. How to refile taxes for 2012 For more information on including restricted property in income, see Publication 525, Taxable and Nontaxable Income. How to refile taxes for 2012 Gains and losses. How to refile taxes for 2012   Do not report on Schedule C or C-EZ a gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers. How to refile taxes for 2012 Instead, you must report these gains and losses on other forms. How to refile taxes for 2012 For more information, see chapter 3. How to refile taxes for 2012 Promissory notes. How to refile taxes for 2012   Report promissory notes and other evidences of debt issued to you in a sale or exchange of property that is stock in trade or held primarily for sale to customers on Schedule C or C-EZ. How to refile taxes for 2012 In general, you report them at their stated principal amount (minus any unstated interest) when you receive them. How to refile taxes for 2012 Lost income payments. How to refile taxes for 2012   If you reduce or stop your business activities, report on Schedule C or C-EZ any payment you receive for the lost income of your business from insurance or other sources. How to refile taxes for 2012 Report it on Schedule C or C-EZ even if your business is inactive when you receive the payment. How to refile taxes for 2012 Damages. How to refile taxes for 2012   You must include in gross income compensation you receive during the tax year as a result of any of the following injuries connected with your business. How to refile taxes for 2012 Patent infringement. How to refile taxes for 2012 Breach of contract or fiduciary duty. How to refile taxes for 2012 Antitrust injury. How to refile taxes for 2012 Economic injury. How to refile taxes for 2012   You may be entitled to a deduction against the income if it compensates you for actual economic injury. How to refile taxes for 2012 Your deduction is the smaller of the following amounts. How to refile taxes for 2012 The amount you receive or accrue for damages in the tax year reduced by the amount you pay or incur in the tax year to recover that amount. How to refile taxes for 2012 Your loss from the injury that you have not yet deducted. How to refile taxes for 2012 Punitive damages. How to refile taxes for 2012   You must also include punitive damages in income. How to refile taxes for 2012 Kickbacks. How to refile taxes for 2012   If you receive any kickbacks, include them in your income on Schedule C or C-EZ. How to refile taxes for 2012 However, do not include them if you properly treat them as a reduction of a related expense item, a capital expenditure, or cost of goods sold. How to refile taxes for 2012 Recovery of items previously deducted. How to refile taxes for 2012   If you recover a bad debt or any other item deducted in a previous year, include the recovery in income on Schedule C or C-EZ. How to refile taxes for 2012 However, if all or part of the deduction in earlier years did not reduce your tax, you can exclude the part that did not reduce your tax. How to refile taxes for 2012 If you exclude part of the recovery from income, you must include with your return a computation showing how you figured the exclusion. How to refile taxes for 2012 Example. How to refile taxes for 2012 Joe Smith, a sole proprietor, had gross income of $8,000, a bad debt deduction of $300, and other allowable deductions of $7,700. How to refile taxes for 2012 He also had 2 personal exemptions for a total of $7,800. How to refile taxes for 2012 He would not pay income tax even if he did not deduct the bad debt. How to refile taxes for 2012 Therefore, he will not report as income any part of the $300 he may recover in any future year. How to refile taxes for 2012 Exception for depreciation. How to refile taxes for 2012   This rule does not apply to depreciation. How to refile taxes for 2012 You recover depreciation using the rules explained next. How to refile taxes for 2012 Recapture of depreciation. How to refile taxes for 2012   In the following situations, you have to recapture the depreciation deduction. How to refile taxes for 2012 This means you include in income part or all of the depreciation you deducted in previous years. How to refile taxes for 2012 Listed property. How to refile taxes for 2012   If your business use of listed property (explained in chapter 8 under Depreciation ) falls to 50% or less in a tax year after the tax year you placed the property in service, you may have to recapture part of the depreciation deduction. How to refile taxes for 2012 You do this by including in income on Schedule C part of the depreciation you deducted in previous years. How to refile taxes for 2012 Use Part IV of Form 4797, Sales of Business Property, to figure the amount to include on Schedule C. How to refile taxes for 2012 For more information, see What is the Business-Use Requirement? in chapter 5 of Publication 946, How To Depreciate Property. How to refile taxes for 2012 That chapter explains how to determine whether property is used more than 50% in your business. How to refile taxes for 2012 Section 179 property. How to refile taxes for 2012   If you take a section 179 deduction (explained in chapter 8 under Depreciation ) for an asset and before the end of the asset's recovery period the percentage of business use drops to 50% or less, you must recapture part of the section 179 deduction. How to refile taxes for 2012 You do this by including in income on Schedule C part of the deduction you took. How to refile taxes for 2012 Use Part IV of Form 4797 to figure the amount to include on Schedule C. How to refile taxes for 2012 See chapter 2 in Publication 946 to find out when you recapture the deduction. How to refile taxes for 2012 Sale or exchange of depreciable property. How to refile taxes for 2012   If you sell or exchange depreciable property at a gain, you may have to treat all or part of the gain due to depreciation as ordinary income. How to refile taxes for 2012 You figure the income due to depreciation recapture in Part III of Form 4797. How to refile taxes for 2012 For more information, see chapter 4 in Publication 544, Sales and Other Dispositions of Assets. How to refile taxes for 2012 Items That Are Not Income In some cases the property or money you receive is not income. How to refile taxes for 2012 Appreciation. How to refile taxes for 2012   Increases in value of your property are not income until you realize the increases through a sale or other taxable disposition. How to refile taxes for 2012 Consignments. How to refile taxes for 2012   Consignments of merchandise to others to sell for you are not sales. How to refile taxes for 2012 The title of merchandise remains with you, the consignor, even after the consignee possesses the merchandise. How to refile taxes for 2012 Therefore, if you ship goods on consignment, you have no profit or loss until the consignee sells the merchandise. How to refile taxes for 2012 Merchandise you have shipped out on consignment is included in your inventory until it is sold. How to refile taxes for 2012   Do not include merchandise you receive on consignment in your inventory. How to refile taxes for 2012 Include your profit or commission on merchandise consigned to you in your income when you sell the merchandise or when you receive your profit or commission, depending upon the method of accounting you use. How to refile taxes for 2012 Construction allowances. How to refile taxes for 2012   If you enter into a lease after August 5, 1997, you can exclude from income the construction allowance you receive (in cash or as a rent reduction) from your landlord if you receive it under both the following conditions. How to refile taxes for 2012 Under a short-term lease of retail space. How to refile taxes for 2012 For the purpose of constructing or improving qualified long-term real property for use in your business at that retail space. How to refile taxes for 2012 Amount you can exclude. How to refile taxes for 2012   You can exclude the construction allowance to the extent it does not exceed the amount you spent for construction or improvements. How to refile taxes for 2012 Short-term lease. How to refile taxes for 2012   A short-term lease is a lease (or other agreement for occupancy or use) of retail space for 15 years or less. How to refile taxes for 2012 The following rules apply in determining whether the lease is for 15 years or less. How to refile taxes for 2012 Take into account options to renew when figuring whether the lease is for 15 years or less. How to refile taxes for 2012 But do not take into account any option to renew at fair market value determined at the time of renewal. How to refile taxes for 2012 Two or more successive leases that are part of the same transaction (or a series of related transactions) for the same or substantially similar retail space are treated as one lease. How to refile taxes for 2012 Retail space. How to refile taxes for 2012   Retail space is real property leased, occupied, or otherwise used by you as a tenant in your business of selling tangible personal property or services to the general public. How to refile taxes for 2012 Qualified long-term real property. How to refile taxes for 2012   Qualified long-term real property is nonresidential real property that is part of, or otherwise present at, your retail space and that reverts to the landlord when the lease ends. How to refile taxes for 2012 Exchange of like-kind property. How to refile taxes for 2012   If you exchange your business property or property you hold for investment solely for property of a like kind to be used in your business or to be held for investment, no gain or loss is recognized. How to refile taxes for 2012 This means that the gain is not taxable and the loss is not deductible. How to refile taxes for 2012 A common type of nontaxable exchange is the trade-in of a business automobile for another business automobile. How to refile taxes for 2012 For more information, see Form 8824. How to refile taxes for 2012 Leasehold improvements. How to refile taxes for 2012   If a tenant erects buildings or makes improvements to your property, the increase in the value of the property due to the improvements is not income to you. How to refile taxes for 2012 However, if the facts indicate that the improvements are a payment of rent to you, then the increase in value would be income. How to refile taxes for 2012 Loans. How to refile taxes for 2012   Money borrowed through a bona fide loan is not income. How to refile taxes for 2012 Sales tax. How to refile taxes for 2012   State and local sales taxes imposed on the buyer, which you were required to collect and pay over to state or local governments, are not income. How to refile taxes for 2012 Guidelines for Selected Occupations This section provides information to determine whether your earnings should be reported on Schedule C (Form 1040) or C-EZ (Form 1040). How to refile taxes for 2012 Direct seller. How to refile taxes for 2012   You must report all income you receive as a direct seller on Schedule C or C-EZ. How to refile taxes for 2012 This includes any of the following. How to refile taxes for 2012 Income from sales—payments you receive from customers for products they buy from you. How to refile taxes for 2012 Commissions, bonuses, or percentages you receive for sales and the sales of others who work under you. How to refile taxes for 2012 Prizes, awards, and gifts you receive from your selling business. How to refile taxes for 2012 You must report this income regardless of whether it is reported to you on an information return. How to refile taxes for 2012   You are a direct seller if you meet all the following conditions. How to refile taxes for 2012 You are engaged in one of the following trades or businesses. How to refile taxes for 2012 Selling or soliciting the sale of consumer products either in a home or other place that is not a permanent retail establishment, or to any buyer on a buy-sell basis or a deposit-commission basis for resale in a home or other place of business that is not a permanent retail establishment. How to refile taxes for 2012 Delivering or distributing newspapers or shopping news (including any services directly related to that trade or business). How to refile taxes for 2012 Substantially all your pay (whether paid in cash or not) for services described above is directly related to sales or other output (including performance of services) rather than to the number of hours worked. How to refile taxes for 2012 Your services are performed under a written contract between you and the person for whom you perform the services, and the contract provides that you will not be treated as an employee for federal tax purposes. How to refile taxes for 2012 Executor or administrator. How to refile taxes for 2012   If you administer a deceased person's estate, your fees are reported on Schedule C or C-EZ if you are one of the following: A professional fiduciary. How to refile taxes for 2012 A nonprofessional fiduciary (personal representative) and both of the following apply. How to refile taxes for 2012 The estate includes an active trade or business in which you actively participate. How to refile taxes for 2012 Your fees are related to the operation of that trade or business. How to refile taxes for 2012 A nonprofessional fiduciary of a single estate that requires extensive managerial activities on your part for a long period of time, provided these activities are enough to be considered a trade or business. How to refile taxes for 2012    If the fees do not meet the above requirements, report them on line 21 of Form 1040. How to refile taxes for 2012 Fishing crew member. How to refile taxes for 2012    If you are a member of the crew that catches fish or other water life, your earnings are reported on Schedule C or C-EZ if you meet all the requirements shown in chapter 10 under Fishing crew member . How to refile taxes for 2012 Insurance agent, former. How to refile taxes for 2012   Termination payments you receive as a former self-employed insurance agent from an insurance company because of services you performed for that company are not reported on Schedule C or C-EZ if all the following conditions are met. How to refile taxes for 2012 You received payments after your agreement to perform services for the company ended. How to refile taxes for 2012 You did not perform any services for the company after your service agreement ended and before the end of the year in which you received the payment. How to refile taxes for 2012 You entered into a covenant not to compete against the company for at least a 1-year period beginning on the date your service agreement ended. How to refile taxes for 2012 The amount of the payments depended primarily on policies sold by you or credited to your account during the last year of your service agreement or the extent to which those policies remain in force for some period after your service agreement ended, or both. How to refile taxes for 2012 The amount of the payment did not depend to any extent on length of service or overall earnings from services performed for the company (regardless of whether eligibility for the payments depended on length of service). How to refile taxes for 2012 Insurance agent, retired. How to refile taxes for 2012   Income paid by an insurance company to a retired self-employed insurance agent based on a percentage of commissions received before retirement is reported on Schedule C or C-EZ. How to refile taxes for 2012 Also, renewal commissions and deferred commissions for sales made before retirement are generally reported on Schedule C or C-EZ. How to refile taxes for 2012   However, renewal commissions paid to the survivor of an insurance agent are not reported on Schedule C or C-EZ. How to refile taxes for 2012 Newspaper carrier or distributor. How to refile taxes for 2012   You are a direct seller and your earnings are reported on Schedule C or C-EZ if all the following conditions apply. How to refile taxes for 2012 You are in the business of delivering or distributing newspapers or shopping news (including directly related services such as soliciting customers and collecting receipts). How to refile taxes for 2012 Substantially all your pay for these services directly relates to your sales or other output rather than to the number of hours you work. How to refile taxes for 2012 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. How to refile taxes for 2012   This rule applies whether or not you hire others to help you make deliveries. How to refile taxes for 2012 It also applies whether you buy the papers from the publisher or are paid based on the number of papers you deliver. How to refile taxes for 2012 Newspaper or magazine vendor. How to refile taxes for 2012   If you are 18 or older and you sell newspapers or magazines, your earnings are reported on Schedule C or C-EZ if all the following conditions apply. How to refile taxes for 2012 You sell newspapers or magazines to ultimate consumers. How to refile taxes for 2012 You sell them at a fixed price. How to refile taxes for 2012 Your earnings are based on the difference between the sales price and your cost of goods sold. How to refile taxes for 2012   This rule applies whether or not you are guaranteed a minimum amount of earnings. How to refile taxes for 2012 It also applies whether or not you receive credit for unsold newspapers or magazines you return to your supplier. How to refile taxes for 2012 Notary public. How to refile taxes for 2012   Fees you receive for services you perform as a notary public are reported on Schedule C or C-EZ. How to refile taxes for 2012 These payments are not subject to self-employment tax (see the instructions for Schedule SE (Form 1040)). How to refile taxes for 2012 Public official. How to refile taxes for 2012   Public officials generally do not report what they earn for serving in public office on Schedule C or C-EZ. How to refile taxes for 2012 This rule applies to payments received by an elected tax collector from state funds on the basis of a fixed percentage of the taxes collected. How to refile taxes for 2012 Public office includes any elective or appointive office of the United States or its possessions, the District of Columbia, a state or its political subdivisions, or a wholly owned instrumentality of any of these. How to refile taxes for 2012   Public officials of state or local governments report their fees on Schedule C or C-EZ if they are paid solely on a fee basis and if their services are eligible for, but not covered by, social security under a federal-state agreement. How to refile taxes for 2012 Real estate agent or direct seller. How to refile taxes for 2012   If you are a licensed real estate agent or a direct seller, your earnings are reported on Schedule C or C-EZ if both the following apply. How to refile taxes for 2012 Substantially all your pay for services as a real estate agent or direct seller directly relates to your sales or other output rather than to the number of hours you work. How to refile taxes for 2012 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. How to refile taxes for 2012 Securities dealer. How to refile taxes for 2012   If you are a dealer in options or commodities, your gains and losses from dealing or trading in section 1256 contracts (regulated futures contracts, foreign currency contracts, nonequity options, dealer equity options, and dealer securities futures contracts) or property related to those contracts (such as stock used to hedge options) are reported on Schedule C or C-EZ. How to refile taxes for 2012 For more information, see sections 1256 and 1402(i). How to refile taxes for 2012 Securities trader. How to refile taxes for 2012   You are a trader in securities if you are engaged in the business of buying and selling securities for your own account. How to refile taxes for 2012 As a trader in securities, your gain or loss from the disposition of securities is not reported on Schedule C or C-EZ. How to refile taxes for 2012 However, see Securities dealer , earlier, for an exception that applies to section 1256 contracts. How to refile taxes for 2012 For more information about securities traders, see Publication 550, Investment Income and Expenses. How to refile taxes for 2012 Accounting for Your Income Accounting for your income for income tax purposes differs at times from accounting for financial purposes. How to refile taxes for 2012 This section discusses some of the more common differences that may affect business transactions. How to refile taxes for 2012 Figure your business income on the basis of a tax year and according to your regular method of accounting (see chapter 2). How to refile taxes for 2012 If the sale of a product is an income-producing factor in your business, you usually have to use inventories to clearly show your income. How to refile taxes for 2012 Dealers in real estate are not allowed to use inventories. How to refile taxes for 2012 For more information on inventories, see chapter 2. How to refile taxes for 2012 Income paid to a third party. How to refile taxes for 2012   All income you earn is taxable to you. How to refile taxes for 2012 You cannot avoid tax by having the income paid to a third party. How to refile taxes for 2012 Example. How to refile taxes for 2012 You rent out your property and the rental agreement directs the lessee to pay the rent to your son. How to refile taxes for 2012 The amount paid to your son is gross income to you. How to refile taxes for 2012 Cash discounts. How to refile taxes for 2012   These are amounts the seller permits you to deduct from the invoice price for prompt payment. How to refile taxes for 2012 For income tax purposes, you can use either of the following two methods to account for cash discounts. How to refile taxes for 2012 Deduct the cash discount from purchases (see Line 36, Purchases Less Cost of Items Withdrawn for Personal Use in chapter 6). How to refile taxes for 2012 Credit the cash discount to a discount income account. How to refile taxes for 2012 You must use the chosen method every year for all your purchase discounts. How to refile taxes for 2012   If you use the second method, the credit balance in the account at the end of your tax year is business income. How to refile taxes for 2012 Under this method, you do not reduce the cost of goods sold by the cash discounts you received. How to refile taxes for 2012 When valuing your closing inventory, you cannot reduce the invoice price of merchandise on hand at the close of the tax year by the average or estimated discounts received on the merchandise. How to refile taxes for 2012 Trade discounts. How to refile taxes for 2012   These are reductions from list or catalog prices and usually are not written into the invoice or charged to the customer. How to refile taxes for 2012 Do not enter these discounts on your books of account. How to refile taxes for 2012 Instead, use only the net amount as the cost of the merchandise purchased. How to refile taxes for 2012 For more information, see Trade discounts in chapter 6. How to refile taxes for 2012 Payment placed in escrow. How to refile taxes for 2012   If the buyer of your property places part or all of the purchase price in escrow, you do not include any part of it in gross sales until you actually or constructively receive it. How to refile taxes for 2012 However, upon completion of the terms of the contract and the escrow agreement, you will have taxable income, even if you do not accept the money until the next year. How to refile taxes for 2012 Sales returns and allowances. How to refile taxes for 2012   Credits you allow customers for returned merchandise and any other allowances you make on sales are deductions from gross sales in figuring net sales. How to refile taxes for 2012 Advance payments. How to refile taxes for 2012   Special rules dealing with an accrual method of accounting for payments received in advance are discussed in chapter 2 under Accrual Method. How to refile taxes for 2012 Insurance proceeds. How to refile taxes for 2012   If you receive insurance or another type of reimbursement for a casualty or theft loss, you must subtract it from the loss when you figure your deduction. How to refile taxes for 2012 You cannot deduct the reimbursed part of a casualty or theft loss. How to refile taxes for 2012   For information on casualty or theft losses, see Publication 547, Casualties, Disasters, and Thefts. How to refile taxes for 2012 Prev  Up  Next   Home   More Online Publications
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The How To Refile Taxes For 2012

How to refile taxes for 2012 Publication 4492 - Main Contents Table of Contents DefinitionsHurricane Katrina Disaster Area Katrina Covered Disaster Area Gulf Opportunity (GO) Zone (Core Disaster Area) Hurricane Rita Disaster Area (Rita Covered Disaster Area) Rita GO Zone Hurricane Wilma Disaster Area Wilma Covered Disaster Area Wilma GO Zone Extended Tax Deadlines Charitable Giving IncentivesTemporary Suspension of Limits on Charitable Contributions Standard Mileage Rate for Charitable Use of Vehicles Mileage Reimbursements to Charitable Volunteers Charitable Deduction for Contributions of Food Inventory Charitable Deduction for Contributions of Book Inventories to Public Schools Casualty and Theft LossesTime limit for making election. How to refile taxes for 2012 Replacement Period for Nonrecognition of Gain Net Operating Losses IRAs and Other Retirement PlansDefinitions Taxation of Qualified Hurricane Distributions Repayment of Qualified Hurricane Distributions Repayment of Qualified Distributions for the Purchase or Construction of a Main Home Loans From Qualified Plans Additional Tax Relief for IndividualsEarned Income Credit and Child Tax Credit Additional Exemption for Housing Individuals Displaced by Hurricane Katrina Education Credits Recapture of Federal Mortgage Subsidy Exclusion of Certain Cancellations of Indebtedness by Reason of Hurricane Katrina Tax Relief for Temporary Relocation Additional Tax Relief for BusinessesSpecial Depreciation Allowance Increased Section 179 Deduction Work Opportunity Credit Employee Retention Credit Hurricane Katrina Housing Credit Reforestation Costs Demolition and Clean-up Costs Increase in Rehabilitation Tax Credit Request for Copy or Transcript of Tax Return How To Get Tax Help Definitions The following definitions are used throughout this publication. How to refile taxes for 2012 Hurricane Katrina Disaster Area The Hurricane Katrina disaster area covers the area for which the President declared a major disaster before September 14, 2005, because of Hurricane Katrina. How to refile taxes for 2012 The Hurricane Katrina disaster area covers the entire states of Alabama, Florida, Louisiana, and Mississippi. How to refile taxes for 2012 Katrina Covered Disaster Area A portion of the Hurricane Katrina disaster area has been designated by the IRS as a covered disaster area. How to refile taxes for 2012 The Katrina covered disaster area covers the following areas in four states. How to refile taxes for 2012 Alabama. How to refile taxes for 2012   The counties of Baldwin, Bibb, Choctaw, Clarke, Colbert, Cullman, Greene, Hale, Jefferson, Lamar, Lauderdale, Marengo, Marion, Mobile, Monroe, Perry, Pickens, Sumter, Tuscaloosa, Washington, Wilcox, and Winston. How to refile taxes for 2012 Florida. How to refile taxes for 2012   The counties of Bay, Broward, Collier, Escambia, Franklin, Gulf, Miami-Dade, Monroe, Okaloosa, Santa Rosa, and Walton. How to refile taxes for 2012 Louisiana. How to refile taxes for 2012   All parishes. How to refile taxes for 2012 Mississippi. How to refile taxes for 2012   All counties. How to refile taxes for 2012 Gulf Opportunity (GO) Zone (Core Disaster Area) The GO Zone (also called the core disaster area) covers the portion of the Hurricane Katrina disaster area determined by the Federal Emergency Management Agency (FEMA) to be eligible for either individual only or both individual and public assistance from the Federal Government. How to refile taxes for 2012 The GO Zone covers the following areas in three states. How to refile taxes for 2012 Alabama. How to refile taxes for 2012   The counties of Baldwin, Choctaw, Clarke, Greene, Hale, Marengo, Mobile, Pickens, Sumter, Tuscaloosa, and Washington. How to refile taxes for 2012 Louisiana. How to refile taxes for 2012   The parishes of Acadia, Ascension, Assumption, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. How to refile taxes for 2012 Bernard, St. How to refile taxes for 2012 Charles, St. How to refile taxes for 2012 Helena, St. How to refile taxes for 2012 James, St. How to refile taxes for 2012 John the Baptist, St. How to refile taxes for 2012 Martin, St. How to refile taxes for 2012 Mary, St. How to refile taxes for 2012 Tammany, Tangipahoa, Terrebonne, Vermilion, Washington, West Baton Rouge, and West Feliciana. How to refile taxes for 2012 Mississippi. How to refile taxes for 2012   The counties of Adams, Amite, Attala, Choctaw, Claiborne, Clarke, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Holmes, Humphreys, Jackson, Jasper, Jefferson, Jefferson Davis, Jones, Kemper, Lamar, Lauderdale, Lawrence, Leake, Lincoln, Lowndes, Madison, Marion, Neshoba, Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Wilkinson, Winston, and Yazoo. How to refile taxes for 2012 Hurricane Rita Disaster Area (Rita Covered Disaster Area) The Hurricane Rita disaster area (also designated by the IRS as the Rita covered disaster area) covers the area for which the President declared a major disaster before October 6, 2005, because of Hurricane Rita. How to refile taxes for 2012 This area covers the entire states of Louisiana and Texas. How to refile taxes for 2012 Rita GO Zone The Rita GO Zone covers the portion of the Hurricane Rita disaster area determined by FEMA to be eligible for either individual only or both individual and public assistance from the Federal Government. How to refile taxes for 2012 The Rita GO Zone covers the following areas in two states. How to refile taxes for 2012 Louisiana. How to refile taxes for 2012   The parishes of Acadia, Allen, Ascension, Beauregard, Calcasieu, Cameron, Evangeline, Iberia, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Plaquemines, Sabine, St. How to refile taxes for 2012 Landry, St. How to refile taxes for 2012 Martin, St. How to refile taxes for 2012 Mary, St. How to refile taxes for 2012 Tammany, Terrebonne, Vermilion, Vernon, and West Baton Rouge. How to refile taxes for 2012 Texas. How to refile taxes for 2012   The counties of Angelina, Brazoria, Chambers, Fort Bend, Galveston, Hardin, Harris, Jasper, Jefferson, Liberty, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler, and Walker. How to refile taxes for 2012 Hurricane Wilma Disaster Area The Hurricane Wilma disaster area covers the area for which the President declared a major disaster before November 14, 2005, because of Hurricane Wilma. How to refile taxes for 2012 The Hurricane Wilma disaster area covers the entire state of Florida. How to refile taxes for 2012 Wilma Covered Disaster Area A portion of the Hurricane Wilma disaster area has been designated by the IRS as a covered disaster area. How to refile taxes for 2012 The Wilma covered disaster area covers the following counties. How to refile taxes for 2012 Florida. How to refile taxes for 2012   Brevard, Broward, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Osceola, Palm Beach, Polk, St. How to refile taxes for 2012 Lucie, and Sarasota. How to refile taxes for 2012 Wilma GO Zone The Wilma GO Zone covers the portion of the Hurricane Wilma disaster area determined by FEMA to be eligible for either individual only or both individual and public assistance from the Federal Government. How to refile taxes for 2012 The Wilma GO Zone covers the following counties. How to refile taxes for 2012 Florida. How to refile taxes for 2012   Brevard, Broward, Collier, Glades, Hendry, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Palm Beach, and St. How to refile taxes for 2012 Lucie. How to refile taxes for 2012 Extended Tax Deadlines The IRS has extended deadlines that apply to filing returns, paying taxes, and performing certain other time-sensitive acts for certain taxpayers affected by Hurricane Katrina, Rita, or Wilma, until February 28, 2006. How to refile taxes for 2012 The extension applies to deadlines (either an original or extended due date) that occur during the following periods. How to refile taxes for 2012 After August 28, 2005 (August 23, 2005, for Florida affected taxpayers), and before February 28, 2006, for taxpayers affected by Hurricane Katrina. How to refile taxes for 2012 After September 22, 2005, and before February 28, 2006, for taxpayers affected by Hurricane Rita. How to refile taxes for 2012 After October 22, 2005, and before February 28, 2006, for taxpayers affected by Hurricane Wilma. How to refile taxes for 2012 Affected taxpayer. How to refile taxes for 2012   The following taxpayers are eligible for the extension. How to refile taxes for 2012 Any individual whose main home is located in a covered disaster area. How to refile taxes for 2012 Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. How to refile taxes for 2012 Any individual, business entity, or sole proprietor whose records needed to meet a postponed deadline are maintained or whose tax professional's office is in a covered disaster area. How to refile taxes for 2012 The main home or principal place of business does not have to be located in the covered area. How to refile taxes for 2012 Any individual visiting a county or parish in the Hurricane Katrina or Hurricane Rita covered disaster area that was injured or killed (and the estate of an individual killed) as a result of the hurricane or its aftermath. How to refile taxes for 2012 Any estate or trust whose tax records needed to meet a filing or payment deadline are maintained in a covered disaster area. How to refile taxes for 2012 Generally, any individual who is a worker assisting in the relief activities in a covered disaster area. How to refile taxes for 2012 However, a relief worker assisting in the Wilma covered disaster area is not an affected taxpayer unless the worker is affiliated with a recognized government or philanthropic organization assisting in the relief activities. How to refile taxes for 2012 The spouse of an affected taxpayer, solely with regard to a joint income tax return with that taxpayer. How to refile taxes for 2012   To ensure correct processing, affected taxpayers should write the assigned disaster designation (for example, “Hurricane Katrina”) in red ink at the top of any forms or documents filed with the IRS. How to refile taxes for 2012 Affected taxpayers can also identify themselves to the IRS or ask hurricane-related questions by calling the special IRS disaster hotline at 1-866-562-5227. How to refile taxes for 2012 Acts extended. How to refile taxes for 2012   Deadlines for performing the following acts are extended. How to refile taxes for 2012 Filing any return of income, estate, gift, generation-skipping transfer, excise, or employment tax. How to refile taxes for 2012 Paying any income, estate, gift, generation-skipping transfer, excise, or employment tax. How to refile taxes for 2012 This includes making estimated tax payments. How to refile taxes for 2012 Making certain contributions, distributions, recharacterizing contributions, or making a rollover to or from a qualified retirement plan. How to refile taxes for 2012 Filing certain petitions with the Tax Court. How to refile taxes for 2012 Filing a claim for credit or refund of any tax. How to refile taxes for 2012 Bringing suit upon a claim for credit or refund. How to refile taxes for 2012 Certain other acts described in Revenue Procedure 2005-27. How to refile taxes for 2012 You can find Revenue Procedure 2005-27 on page 1050 of Internal Revenue Bulletin 2005-20 at www. How to refile taxes for 2012 irs. How to refile taxes for 2012 gov/pub/irs-irbs/irb05-20. How to refile taxes for 2012 pdf. How to refile taxes for 2012 Forgiveness of interest and penalties. How to refile taxes for 2012   The IRS may forgive the interest and penalties on any underpaid income, estate, gift, employment, or excise tax for the length of any extension. How to refile taxes for 2012 Charitable Giving Incentives Temporary Suspension of Limits on Charitable Contributions Individuals. How to refile taxes for 2012   Qualified contributions are not subject to the overall limit on itemized deductions or the 50% adjusted gross income (AGI) limit. How to refile taxes for 2012 A qualified contribution is a charitable contribution paid in cash or by check after August 27, 2005, and before January 1, 2006, to a 50% limit organization (other than certain private foundations described in section 509(a)(3)) if you make an election to have the 50% limit not apply to these contributions. How to refile taxes for 2012   Your deduction for qualified contributions is limited to your AGI minus your deduction for all other charitable contributions. How to refile taxes for 2012 You can carry over any contributions you are not able to deduct for 2005 because of this limit. How to refile taxes for 2012 In 2006, treat the carryover of your unused qualified contributions as a carryover of contributions subject to the 50% limit. How to refile taxes for 2012 Exception. How to refile taxes for 2012   Qualified contributions do not include a contribution to a segregated fund or account for which you (or any person you appoint or designate) have or expect to have advisory privileges with respect to distributions or investments based on your contribution. How to refile taxes for 2012 Corporations. How to refile taxes for 2012   A corporation may elect to deduct qualified cash contributions without regard to the 10% taxable income limit if the contributions were made after August 27, 2005, and before January 1, 2006, to a qualified charitable organization (other than certain private foundations described in section 509(a)(3)), for Hurricane Katrina, Rita, or Wilma relief efforts. How to refile taxes for 2012 The corporation's deduction for these qualified contributions is limited to 100% of taxable income (as modified for the 10% limit) minus the corporation's deduction for all other charitable contributions. How to refile taxes for 2012 Any qualified contributions over this limit can be carried over to the next 5 years, subject to the 10% limit. How to refile taxes for 2012 Partners and shareholders. How to refile taxes for 2012   Each partner in a partnership and each shareholder in an S corporation makes a separate election to have the appropriate limit not apply. How to refile taxes for 2012 More information. How to refile taxes for 2012   For more information, see Publication 526 or Publication 542, Corporations. How to refile taxes for 2012 Publication 526 includes a worksheet you can use to figure your deduction if any limits apply to your charitable contributions. How to refile taxes for 2012 Standard Mileage Rate for Charitable Use of Vehicles The following are special standard mileage rates in effect in 2005 and 2006 for the cost of operating your automobile for providing charitable services solely related to Hurricane Katrina. How to refile taxes for 2012 29 cents per mile for the period August 25 through August 31, 2005. How to refile taxes for 2012 34 cents per mile for the period September 1 through December 31, 2005. How to refile taxes for 2012 32 cents per mile for the period January 1 through December 31, 2006. How to refile taxes for 2012 Mileage Reimbursements to Charitable Volunteers You can exclude from income amounts you receive as mileage reimbursements for the use of a private passenger automobile for the benefit of a qualified charitable organization in providing relief related to Hurricane Katrina during the period beginning on August 25, 2005, and ending on December 31, 2006. How to refile taxes for 2012 You cannot claim a deduction or credit for amounts you receive as a mileage reimbursement. How to refile taxes for 2012 You must keep records of miles driven, time, place (or use), and purpose of the mileage. How to refile taxes for 2012 The amount you can exclude from income cannot exceed the standard business mileage rate (shown below) for expenses incurred during the following periods. How to refile taxes for 2012 40. How to refile taxes for 2012 5 cents per mile for the period August 25 through August 31, 2005. How to refile taxes for 2012 48. How to refile taxes for 2012 5 cents per mile for the period September 1 through December 31, 2005. How to refile taxes for 2012 44. How to refile taxes for 2012 5 cents per mile for the period January 1 through December 31, 2006. How to refile taxes for 2012 Charitable Deduction for Contributions of Food Inventory Any taxpayer engaged in a trade or business is eligible to claim a deduction for a contribution of “apparently wholesome food” inventory to a qualified charitable organization described in section 501(c)(3) (except for private nonoperating foundations) after August 27, 2005, and before January 1, 2006. How to refile taxes for 2012 “Apparently wholesome food” is food that meets all quality and labeling standards imposed by federal, state, and local laws and regulations even though the food may not be readily marketable due to appearance, age, freshness, grade, size, surplus, or other conditions. How to refile taxes for 2012 The deduction is equal to the lesser of: The basis of the donated food plus one-half of the gain that would have been realized if the donated food had been sold at fair market value on the date of the donation, or Two times the basis of the donated food. How to refile taxes for 2012 The taxpayer must receive written certification from the donee stating: The donated food is related to the purpose or function of the donee's basis for exemption under section 501(c)(3) and is to be used solely for the care of the ill, the needy, or infants; and The food was not given in exchange for money, other property, or services. How to refile taxes for 2012 For a taxpayer other than a C corporation, the deduction is limited to 10% of the taxpayer's total net income from all trades or businesses from which the food contributions were made (figured without regard to the deduction for charitable contributions). How to refile taxes for 2012 For example, if a taxpayer is a sole proprietor, a shareholder in an S corporation, and a partner in a partnership, and each made a contribution of apparently wholesome food inventory, the taxpayer's deduction is limited to 10% of the taxpayer's total net income from the sole proprietorship, S corporation, and partnership (figured without regard to the deduction for charitable contributions). How to refile taxes for 2012 Charitable Deduction for Contributions of Book Inventories to Public Schools A corporation (other than an S corporation) may be allowed a charitable deduction for a qualified book contribution made after August 27, 2005, and before January 1, 2006, to a public school that: Provides elementary or secondary education (kindergarten through grade 12), and Normally maintains a regular faculty and curriculum and has a regular enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on. How to refile taxes for 2012 . How to refile taxes for 2012 The deduction is equal to the lesser of: The basis of the donated books plus one-half of the gain that would have been realized if the donated books had been sold at fair market value on the date of the donation, or Two times the basis of the donated books. How to refile taxes for 2012 The corporation must receive written certification from the school stating that the donated books are suitable for the organization's educational programs and will be used for such programs. How to refile taxes for 2012 Casualty and Theft Losses The following paragraphs explain changes to casualty and theft losses that were caused by Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 For more information, see Publication 547. How to refile taxes for 2012 Limits on personal casualty or theft losses caused by Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012   The following losses to personal use property are not subject to the $100 or 10% of adjusted gross income limits. How to refile taxes for 2012 Losses that arose in the Hurricane Katrina disaster area after August 24, 2005, and that were caused by Hurricane Katrina. How to refile taxes for 2012 Losses that arose in the Hurricane Rita disaster area after September 22, 2005, and that were caused by Hurricane Rita. How to refile taxes for 2012 Losses that arose in the Hurricane Wilma disaster area after October 22, 2005, and that were caused by Hurricane Wilma. How to refile taxes for 2012 Qualifying losses include losses from flooding or other casualty, and from theft, that arose in the hurricane disaster area and that were caused by the hurricane. How to refile taxes for 2012 Special instructions for individuals who elect to claim a Hurricane Katrina, Rita, or Wilma casualty or theft loss for 2004. How to refile taxes for 2012   Casualty and theft losses are generally deductible only in the year the casualty occurred or theft was discovered. How to refile taxes for 2012 However, Hurricane Katrina, Rita, and Wilma are Presidentially declared disasters. How to refile taxes for 2012 Therefore, you can elect to deduct losses from these hurricanes on your tax return for the previous year. How to refile taxes for 2012 If you make this election, use the following additional instructions to complete your forms. How to refile taxes for 2012   Individuals filing or amending their 2004 tax return whose only casualty or theft losses to personal use property claimed on that return were caused by Hurricane Katrina, Rita, or Wilma should write “Hurricane Katrina,” “Hurricane Rita,” or “Hurricane Wilma” at the top of Form 1040 or 1040X. How to refile taxes for 2012 They must also complete and attach the 2004 Form 4684 and write “Hurricane Katrina,”“Hurricane Rita,” or “Hurricane Wilma” on the dotted line next to line 11 and enter -0- on lines 11 and 17. How to refile taxes for 2012   Individuals filing or amending their 2004 tax return who also have casualty or theft losses to personal use property not related to Hurricane Katrina, Rita, or Wilma should disregard the caution directing taxpayers to use only one Form 4684, located above line 13, and complete lines 13 through 18 on two Forms 4684. How to refile taxes for 2012 The Form 1040 or 1040X and the first Form 4684 should be prepared as explained above for Hurricane Katrina, Rita, or Wilma losses only. How to refile taxes for 2012 The second Form 4684 should be prepared in the normal manner for all gains and non-Hurricane Katrina, Rita or Wilma losses. How to refile taxes for 2012 If both Forms 4684 have a loss on line 18, they should carry the combined losses from that line to Schedule A (Form 1040), line 19. How to refile taxes for 2012 If there is a gain on line 15 of the second Form 4684, disregard the instruction to enter it on Schedule D (Form 1040), and instead enter on Schedule A (Form 1040), line 19, the excess of the loss from the first Form 4684 over the gain on line 15 of the second Form 4684. How to refile taxes for 2012 , Time limit for making election. How to refile taxes for 2012   You must make this election to claim your casualty or theft loss in 2004 by the later of the following dates. How to refile taxes for 2012 The due date (without extensions) for filing your 2005 income tax return. How to refile taxes for 2012 The due date (with extensions) for filing your 2004 income tax return. How to refile taxes for 2012 Example. How to refile taxes for 2012 If you are a calendar year individual taxpayer, you have until April 17, 2006, to amend your 2004 tax return to claim a casualty or theft loss that occurred during 2005. How to refile taxes for 2012 Replacement Period for Nonrecognition of Gain Generally, an involuntary conversion occurs when property is damaged, destroyed, stolen, seized, requisitioned, or condemned, and you receive other property or money in payment, such as insurance or a condemnation award. How to refile taxes for 2012 Generally, you do not have to report a gain (if any) if you replace the property within 2 years (4 years for a main home in a Presidentially declared disaster area). How to refile taxes for 2012 However, for property that was involuntarily converted after August 24, 2005, as a result of Hurricane Katrina, a 5-year replacement period applies if substantially all of the use of the replacement property is in the Hurricane Katrina disaster area. How to refile taxes for 2012 For more information, see the Instructions for Form 4684. How to refile taxes for 2012 Net Operating Losses Qualified GO Zone loss. How to refile taxes for 2012   Generally, you can carry a net operating loss (NOL) back to the 2 tax years before the NOL year. How to refile taxes for 2012 However, the portion of an NOL that is a qualified GO Zone loss can be carried back to the 5 tax years before the NOL year. How to refile taxes for 2012 In addition, the 90% limit on the alternative tax NOL deduction (ATNOLD) does not apply to such portion of the ATNOLD. How to refile taxes for 2012   A qualified GO Zone loss is the smaller of: The excess of the NOL for the year over the specified liability loss for the year to which a 10-year carryback applies, or The total of the following deductions (to the extent they are taken into account in computing the NOL for the tax year): Qualified GO Zone casualty loss (as defined below), Moving expenses paid or incurred after August 27, 2005, and before January 1, 2008, for the employment of an individual whose main home was in the GO Zone before August 28, 2005, who was unable to remain in that home because of Hurricane Katrina, and whose main job location (after the move) is in the GO Zone, Temporary housing expenses paid or incurred after August 27, 2005, and before January 1, 2008, to house employees of the taxpayer whose main job location is in the GO Zone, Depreciation or amortization allowable for any qualified GO Zone property (even if you elected not to claim the special GO Zone depreciation allowance for such property) for the year placed in service, and Repair expenses (including expenses for the removal of debris) paid or incurred after August 27, 2005, and before January 1, 2008, for any damage from Hurricane Katrina to property located in the GO Zone. How to refile taxes for 2012 Qualified GO Zone casualty loss. How to refile taxes for 2012   A qualified GO Zone casualty loss is any deductible section 1231 loss of property located in the GO Zone if the loss was caused by Hurricane Katrina. How to refile taxes for 2012 For this purpose, the amount of the loss is reduced by any recognized gain from an involuntary conversion caused by Hurricane Katrina of property located in the GO Zone. How to refile taxes for 2012 Any such loss taken into account in figuring your qualified GO Zone loss is not eligible for the election to be treated as having occurred in the previous tax year. How to refile taxes for 2012 5-year NOL carryback of certain timber losses. How to refile taxes for 2012   Generally, you can carry the portion of an NOL due to income and deductions attributable to a farming business back to the 5 tax years before the NOL year. How to refile taxes for 2012 You can treat income and deductions attributable to qualified timber property as attributable to a farming business if any portion of the property is located in the GO Zone, Rita GO Zone, or Wilma GO Zone, and the income and deductions are allocable to the part of your tax year which is after the applicable date below. How to refile taxes for 2012 August 27, 2005, if any portion of the property is located in the GO Zone. How to refile taxes for 2012 September 22, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone). How to refile taxes for 2012 October 22, 2005, if any portion of the property is located in the Wilma GO Zone (but not in the GO Zone or the RITA GO Zone). How to refile taxes for 2012   These rules will not apply after 2006. How to refile taxes for 2012   However, these rules apply only to a timber producer who: Held qualified timber property (defined in Publication 535, Business Expenses) on the applicable date below: August 28, 2005, if any portion of the property is located in the GO Zone, September 23, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone), or October 23, 2005, if any portion of the property is located in the Wilma GO Zone (but not in the GO Zone or the Rita GO Zone); Is not a corporation with stock publicly traded on an established securities market; Is not a real estate investment trust; and Did not hold more than 500 acres of qualified timber property on the applicable date above. How to refile taxes for 2012 More information. How to refile taxes for 2012   For more information on NOLs, see Publication 536 or Publication 542, Corporations. How to refile taxes for 2012 IRAs and Other Retirement Plans New rules provide for tax-favored withdrawals, repayments, and loans from certain retirement plans for taxpayers who suffered economic losses as a result of Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 Definitions Qualified hurricane distribution. How to refile taxes for 2012   A qualified hurricane distribution is any distribution you received from an eligible retirement plan if all of the following apply. How to refile taxes for 2012 The distribution was made: After August 24, 2005, and before January 1, 2007, for Hurricane Katrina; After September 22, 2005, and before January 1, 2007, for Hurricane Rita; or After October 22, 2005, and before January 1, 2007, for Hurricane Wilma. How to refile taxes for 2012 Your main home was located in a hurricane disaster area listed below on the date shown for that area. How to refile taxes for 2012 August 28, 2005, for the Hurricane Katrina disaster area. How to refile taxes for 2012 September 23, 2005, for the Hurricane Rita disaster area. How to refile taxes for 2012 October 23, 2005, for the Hurricane Wilma disaster area. How to refile taxes for 2012 You sustained an economic loss because of Hurricane Katrina, Rita, or Wilma and your main home was in that hurricane disaster area on the date shown in (2) above for that hurricane. How to refile taxes for 2012 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. How to refile taxes for 2012   If (1) through (3) above apply, you can generally designate any distribution (including periodic payments and required minimum distributions) from an eligible retirement plan as a qualified hurricane distribution, regardless of whether the distribution was made on account of Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 Qualified hurricane distributions are permitted without regard to your need or the actual amount of your economic loss. How to refile taxes for 2012   The total of your qualified hurricane distributions from all plans is limited to $100,000. How to refile taxes for 2012 If you have distributions in excess of $100,000 from more than one type of plan, such as a 401(k) plan and an IRA, you may allocate the $100,000 limit among the plans any way you choose. How to refile taxes for 2012   A reduction or offset (after August 24, 2005, for Katrina; after September 22, 2005, for Rita; or after October 22, 2005, for Wilma) of your account balance in an eligible retirement plan in order to repay a loan can also be designated as a qualified hurricane distribution. How to refile taxes for 2012 Eligible retirement plan. How to refile taxes for 2012   An eligible retirement plan can be any of the following. How to refile taxes for 2012 A qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan). How to refile taxes for 2012 A qualified annuity plan. How to refile taxes for 2012 A tax-sheltered annuity contract. How to refile taxes for 2012 A governmental section 457 deferred compensation plan. How to refile taxes for 2012 A traditional, SEP, SIMPLE, or Roth IRA. How to refile taxes for 2012 Main home. How to refile taxes for 2012   Generally, your main home is the home where you live most of the time. How to refile taxes for 2012 A temporary absence due to special circumstances, such as illness, education, business, military service, evacuation, or vacation, will not change your main home. How to refile taxes for 2012 Taxation of Qualified Hurricane Distributions Qualified hurricane distributions are included in income in equal amounts over three years. How to refile taxes for 2012 However, if you elect, you can include the entire distribution in your income in the year it was received. How to refile taxes for 2012 Qualified hurricane distributions are not subject to the additional 10% tax (or the additional 25% tax for certain distributions from SIMPLE IRAs) on early distributions from qualified retirement plans (including IRAs). How to refile taxes for 2012 However, any distributions you receive in excess of the $100,000 qualified hurricane distribution limit may be subject to the additional tax on early distributions. How to refile taxes for 2012 For more information, see Form 8915. How to refile taxes for 2012 Repayment of Qualified Hurricane Distributions If you choose, you generally can repay any portion of a qualified hurricane distribution that is eligible for tax-free rollover treatment to an eligible retirement plan. How to refile taxes for 2012 Also, you can repay a qualified hurricane distribution made on account of a hardship from a retirement plan. How to refile taxes for 2012 However, see Exceptions below for qualified hurricane distributions you cannot repay. How to refile taxes for 2012 You have three years from the day after the date you received the distribution to make a repayment. How to refile taxes for 2012 Amounts that are repaid are treated as a qualified rollover and are not included in income. How to refile taxes for 2012 Also, for purposes of the one-rollover-per-year limitation for IRAs, a repayment to an IRA is not considered a qualified rollover. How to refile taxes for 2012 See Form 8915 for more information on how to report repayments. How to refile taxes for 2012 Exceptions. How to refile taxes for 2012   You cannot repay the following types of distributions. How to refile taxes for 2012 Qualified hurricane distributions received as a beneficiary (other than a surviving spouse). How to refile taxes for 2012 Required minimum distributions. How to refile taxes for 2012 Periodic payments (other than from an IRA) that are for: A period of 10 years or more, Your life or life expectancy, or The joint lives or joint life expectancies of you and your beneficiary. How to refile taxes for 2012 Repayment of Qualified Distributions for the Purchase or Construction of a Main Home If you received a qualified distribution to purchase or construct a main home in the Hurricane Katrina, Rita, or Wilma disaster area, you can repay that distribution before March 1, 2006, to an eligible retirement plan after August 24, 2005 (Katrina); after September 22, 2005 (Rita); or after October 22, 2005 (Wilma). How to refile taxes for 2012 For this purpose, an eligible retirement plan is any plan, annuity, or IRA to which a qualified rollover can be made. How to refile taxes for 2012 To be a qualified distribution, the distribution must meet all of the following requirements. How to refile taxes for 2012 The distribution is a hardship distribution from a 401(k) plan, a hardship distribution from a tax-sheltered annuity contract, or a qualified first-time homebuyer distribution from an IRA. How to refile taxes for 2012 The distribution was received in 2005 after February 28 and before: August 29 for Hurricane Katrina; September 24 for Hurricane Rita; or October 24 for Hurricane Wilma. How to refile taxes for 2012 The distribution was to be used to purchase or construct a main home in the Hurricane Katrina, Rita, or Wilma disaster area that was not purchased or constructed because of Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 Amounts that are repaid before March 1, 2006, are treated as a qualified rollover and are not included in income. How to refile taxes for 2012 Also, for purposes of the one-rollover-per-year limitation for IRAs, a repayment to an IRA is not considered a qualified rollover. How to refile taxes for 2012 A qualified distribution not repaid before March 1, 2006, may be taxable for 2005 and subject to the additional 10% tax (or the additional 25% tax for certain SIMPLE IRAs) on early distributions. How to refile taxes for 2012 You must file Form 8915 if you received a qualified distribution that you repaid, in whole or in part, before March 1, 2006. How to refile taxes for 2012 Loans From Qualified Plans The following benefits are available to qualified individuals. How to refile taxes for 2012 Increases to the limits for distributions treated as loans from employer plans. How to refile taxes for 2012 A 1-year suspension for payments due on plan loans. How to refile taxes for 2012 Qualified individual. How to refile taxes for 2012   You are a qualified individual if any of the following apply. How to refile taxes for 2012 Your main home on August 28, 2005, was located in the Hurricane Katrina disaster area and you had an economic loss because of Hurricane Katrina. How to refile taxes for 2012 Your main home on September 23, 2005, was located in the Hurricane Rita disaster area and you had an economic loss because of Hurricane Rita. How to refile taxes for 2012 Your main home on October 23, 2005, was located in the Hurricane Wilma disaster area and you had an economic loss because of Hurricane Wilma. How to refile taxes for 2012 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. How to refile taxes for 2012 Limits on plan loans. How to refile taxes for 2012   The $50,000 limit for distributions treated as plan loans is increased to $100,000. How to refile taxes for 2012 In addition, the limit based on 50% of your vested accrued benefit is increased to 100% of that benefit. How to refile taxes for 2012 The higher limits apply only to loans received during the following period. How to refile taxes for 2012 If your main home was located in the Hurricane Katrina disaster area, the period began on September 24, 2005, and ends on December 31, 2006. How to refile taxes for 2012 If your main home was located in the Hurricane Rita or Wilma disaster area, the period began on December 21, 2005, and ends on December 31, 2006. How to refile taxes for 2012 If you are a qualified individual based on Hurricane Katrina and another hurricane, use the period based on Hurricane Katrina. How to refile taxes for 2012 One-year suspension of loan payments. How to refile taxes for 2012   Payments on plan loans due before 2007 may be suspended for 1 year by the plan administrator. How to refile taxes for 2012 To qualify for the suspension, the due date for any loan payment must occur during the period beginning on: August 28, 2005, if your main home was located in the Hurricane Katrina disaster area. How to refile taxes for 2012 September 23, 2005, if your main home was located in the Hurricane Rita disaster area. How to refile taxes for 2012 October 23, 2005, if your main home was located in the Hurricane Wilma disaster area. How to refile taxes for 2012 If you are a qualified individual based on more than one hurricane, use the period with the earliest beginning date. How to refile taxes for 2012 Additional Tax Relief for Individuals Earned Income Credit and Child Tax Credit You can elect to use your 2004 earned income to figure your earned income credit (EIC) and additional child tax credit for 2005 if: Your 2005 earned income is less than your 2004 earned income, and At least one of the following statements is true. How to refile taxes for 2012 Your main home on August 25, 2005, was in the Gulf Opportunity (GO) Zone. How to refile taxes for 2012 Your main home on August 25, 2005, was in the Hurricane Katrina disaster area and you were displaced from that home because of Hurricane Katrina. How to refile taxes for 2012 Your main home on September 23, 2005, was in the Rita GO Zone. How to refile taxes for 2012 Your main home on September 23, 2005, was in the Hurricane Rita disaster area and you were displaced from that home because of Hurricane Rita. How to refile taxes for 2012 Your main home on October 23, 2005, was in the Wilma GO Zone. How to refile taxes for 2012 Your main home on October 23, 2005, was in the Hurricane Wilma disaster area and you were displaced from that home because of Hurricane Wilma. How to refile taxes for 2012 Earned income. How to refile taxes for 2012    For the purpose of this election, your earned income for both the EIC and the additional child tax credit is the amount of earned income used to figure your EIC, even if you did not take the EIC and even if that amount is different than your earned income for the additional child tax credit. How to refile taxes for 2012 If you are claiming only the additional child tax credit, you must figure the amount of your earned income for EIC purposes to determine your eligibility to make the election and the amount of the credit. How to refile taxes for 2012 Joint returns. How to refile taxes for 2012   If you file a joint return, you qualify to make this election even if only one spouse meets the requirements. How to refile taxes for 2012 If you make the election, your 2004 earned income is the sum of your 2004 earned income and your spouse's 2004 earned income. How to refile taxes for 2012 Making the election. How to refile taxes for 2012   If you make the election to use your 2004 earned income, the election applies for figuring both the EIC and the additional child tax credit. How to refile taxes for 2012 However, you can make the election for the additional child tax credit even if you do not take the EIC. How to refile taxes for 2012   Electing to use your 2004 earned income may increase or decrease your EIC. How to refile taxes for 2012 Take the following steps to decide whether to make the election. How to refile taxes for 2012 Figure your 2005 EIC using your 2004 earned income. How to refile taxes for 2012 Figure your 2005 additional child tax credit using your 2004 earned income for EIC purposes. How to refile taxes for 2012 Add the results of (1) and (2). How to refile taxes for 2012 Figure your 2005 EIC using your 2005 earned income. How to refile taxes for 2012 Figure your 2005 additional child tax credit using your 2005 earned income for additional child tax credit purposes. How to refile taxes for 2012 Add the results of (4) and (5). How to refile taxes for 2012 Compare the results of (3) and (6). How to refile taxes for 2012 If (3) is larger than (6), it is to your benefit to make the election. How to refile taxes for 2012 If (3) is equal to or smaller than (6), making the election will not help you. How to refile taxes for 2012   If you elect to use your 2004 earned income and you are claiming the EIC, enter “PYEI” and the amount of your 2004 earned income on the dotted line next to line 66a of Form 1040, on the line next to line 41a of Form 1040A, or in the space to the left of line 8a of Form 1040EZ. How to refile taxes for 2012   If you elect to use your 2004 earned income and you are claiming the additional child tax credit, enter your 2004 earned income for EIC purposes (even if you did not claim the EIC) on Form 8812, Additional Child Tax Credit, line 4a, and check the box on that line. How to refile taxes for 2012   Because Form 8812 was released before the GO Zone legislation was enacted, the instructions refer only to individuals whose main home was in the Hurricane Katrina disaster area. How to refile taxes for 2012 When completing Form 8812, line 4a, use the above rules to determine your eligibility to make the election (instead of the Form 8812 instructions). How to refile taxes for 2012 Getting your 2004 tax return information. How to refile taxes for 2012   If you do not have your 2004 tax records, you can get the amount of earned income used to figure your 2004 EIC by calling 1-866-562-5227. How to refile taxes for 2012 You can also get this information by visiting the IRS website at www. How to refile taxes for 2012 irs. How to refile taxes for 2012 gov. How to refile taxes for 2012   If you prefer to figure your 2004 earned income yourself, copies or transcripts of your filed and processed tax returns can help you reconstruct your tax records. How to refile taxes for 2012 See Request for Copy or Transcript of Tax Return on page 16. How to refile taxes for 2012 Additional Exemption for Housing Individuals Displaced by Hurricane Katrina You may be able to claim an additional exemption amount of $500 for providing housing in your main home for each individual displaced by Hurricane Katrina. How to refile taxes for 2012 The additional exemption amount is claimed on new Form 8914. How to refile taxes for 2012 The additional exemption amount is allowable once per taxpayer for a specific individual in 2005 or 2006, but not in both years. How to refile taxes for 2012 The maximum additional exemption amount you can claim for all displaced individuals is $2,000 ($1,000 if married filing separately). How to refile taxes for 2012 The additional exemption amount you claim for displaced individuals in 2005 will reduce the $2,000 maximum for 2006. How to refile taxes for 2012 If two or more taxpayers share the same main home, only one taxpayer in that main home can claim the additional exemption amount for a specific displaced individual. How to refile taxes for 2012 If married filing separately, only one spouse may claim the additional exemption amount for a specific displaced individual. How to refile taxes for 2012 In order for you to be considered to have provided housing, you must have a legal interest in the main home (that is, own or rent the home). How to refile taxes for 2012 To qualify as a displaced individual, the individual: Must have had his or her main home in the Hurricane Katrina disaster area on August 28, 2005, and he or she must have been displaced from that home. How to refile taxes for 2012 If the individual's main home was located outside the core disaster area, that home must have been damaged by Hurricane Katrina or the individual must have been evacuated from that home because of Hurricane Katrina, Must have been provided housing in your main home for a period of at least 60 consecutive days ending in the tax year in which the exemption is claimed, and Cannot be your spouse or dependent. How to refile taxes for 2012 You cannot claim the additional exemption amount if you received rent (or any other amount) from any source for providing the housing. How to refile taxes for 2012 You are permitted to receive payments or reimbursements that do not relate to normal housing costs, including the following. How to refile taxes for 2012 Food, clothing, or personal items consumed or used by the displaced individual. How to refile taxes for 2012 Reimbursement for the cost of any long distance telephone calls made by the displaced individual. How to refile taxes for 2012 Reimbursement for the cost of gasoline for the displaced individual's use of your vehicle. How to refile taxes for 2012 However, you cannot claim the additional exemption amount if you received any reimbursement for the extra costs of heat, electricity, or water used by the displaced individual. How to refile taxes for 2012 Also, you must report on Form 8914 the displaced individual's social security number or individual taxpayer identification number to claim an additional exemption amount. How to refile taxes for 2012 For more information, see Form 8914. How to refile taxes for 2012 Education Credits The education credits have been expanded for students attending an eligible educational institution located in the Gulf Opportunity Zone (GOZ students) for any tax year beginning in 2005 or 2006. How to refile taxes for 2012 The Hope credit for a GOZ student is increased to 100% of the first $2,000 in qualified education expenses and 50% of the next $2,000 of qualified education expenses for a maximum credit of $3,000 per student. How to refile taxes for 2012 The lifetime learning credit rate for a GOZ student is increased from 20% to 40%. How to refile taxes for 2012 The definition of qualified education expenses for a GOZ student also has been expanded. How to refile taxes for 2012 In addition to tuition and fees required for the student's enrollment or attendance at an eligible educational institution, qualified education expenses for a GOZ student include the following. How to refile taxes for 2012 Books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. How to refile taxes for 2012 For a special needs student, expenses that are necessary for that person's enrollment or attendance at an eligible educational institution. How to refile taxes for 2012 For a student who is at least a half-time student, the reasonable costs of room and board, but only to the extent that the costs are not more than the greater of the following two amounts. How to refile taxes for 2012 The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. How to refile taxes for 2012 The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. How to refile taxes for 2012 You will need to contact the eligible educational institution for qualified room and board costs. How to refile taxes for 2012 For more information, see Form 8863. How to refile taxes for 2012 Recapture of Federal Mortgage Subsidy Generally, if you financed your home under a federally subsidized program (loans from tax-exempt qualified mortgage bonds or loans with mortgage credit certificates), you may have to recapture all or part of the benefit you received from that program when you sell or otherwise dispose of your home. How to refile taxes for 2012 However, you do not have to recapture any benefit if your mortgage loan was a qualified home improvement loan of not more than $15,000. How to refile taxes for 2012 This amount is increased to $150,000 if the loan was provided before 2011 and was used to: Repair damage caused by Hurricane Katrina to a residence in the Hurricane Katrina disaster area, or Alter, repair, or improve an existing owner-occupied residence in the GO Zone, Rita GO Zone, or Wilma GO Zone. How to refile taxes for 2012 Exclusion of Certain Cancellations of Indebtedness by Reason of Hurricane Katrina Generally, discharges of nonbusiness debts (such as mortgages) made after August 24, 2005, and before January 1, 2007, are excluded from income for individuals whose main home was in the Hurricane Katrina disaster area on August 25, 2005. How to refile taxes for 2012 If the individual's main home was located outside the core disaster area, the individual also must have had an economic loss because of Hurricane Katrina. How to refile taxes for 2012 Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. How to refile taxes for 2012 This relief does not apply to any debt secured by real property located outside the Hurricane Katrina disaster area. How to refile taxes for 2012 You may also have to reduce certain tax attributes by the amount excluded. How to refile taxes for 2012 For more information, see Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment). How to refile taxes for 2012 Tax Relief for Temporary Relocation Under the Gulf Opportunity Zone Act of 2005, the IRS may adjust the internal revenue laws to ensure that taxpayers do not lose a deduction or credit or experience a change of filing status in 2005 or 2006 as a result of a temporary relocation caused by Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 However, any such adjustment must ensure that an individual is not taken into account by more than one taxpayer for the same tax benefit. How to refile taxes for 2012 The IRS has exercised this authority as follows. How to refile taxes for 2012 In determining whether you furnished over one-half of the cost of maintaining a household, you can exclude from total household costs any assistance received from the government or charitable organizations because you were temporarily relocated as a result of Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 In determining whether you provided more than one-half of an individual's support, you can disregard any assistance received from the government or charitable organizations because you were temporarily relocated as a result of Hurricane Katrina, Rita, or Wilma. How to refile taxes for 2012 You can treat as a student an individual who enrolled in school before August 25, 2005, and who is unable to attend classes because of Hurricane Katrina, for each month of the enrollment period that individual is prevented by Hurricane Katrina from attending school as planned. How to refile taxes for 2012 You can treat as a student an individual who enrolled in school before September 23, 2005, and who is unable to attend classes because of Hurricane Rita, for each month of the enrollment period that individual is prevented by Hurricane Rita from attending school as planned. How to refile taxes for 2012 You can treat as a student an individual who enrolled in school before October 23, 2005, and who is unable to attend classes because of Hurricane Wilma, for each month of the enrollment period that individual is prevented by Hurricane Wilma from attending school as planned. How to refile taxes for 2012 Additional Tax Relief for Businesses Special Depreciation Allowance You can take a special depreciation allowance for qualified Gulf Opportunity (GO) Zone property (as defined below) you place in service after August 27, 2005. How to refile taxes for 2012 The allowance is an additional deduction of 50% of the property's depreciable basis (after any section 179 deduction and before figuring your regular depreciation deduction). How to refile taxes for 2012 The special allowance applies only for the first year the property is placed in service. How to refile taxes for 2012 The allowance is deductible for both the regular tax and the alternative minimum tax (AMT). How to refile taxes for 2012 There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. How to refile taxes for 2012 You can elect not to deduct the special GO Zone depreciation allowance for qualified property. How to refile taxes for 2012 If you make this election for any property, it applies to all property in the same class placed in service during the year. How to refile taxes for 2012 Qualified GO Zone property. How to refile taxes for 2012   Property that qualifies for the special GO Zone depreciation allowance includes the following. How to refile taxes for 2012 Tangible property depreciated under the modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less. How to refile taxes for 2012 Water utility property. How to refile taxes for 2012 Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. How to refile taxes for 2012 (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. How to refile taxes for 2012 ) Qualified leasehold improvement property. How to refile taxes for 2012 Nonresidential real property and residential rental property. How to refile taxes for 2012   For more information on this property, see Publication 946. How to refile taxes for 2012 Other tests to be met. How to refile taxes for 2012   To be qualified GO Zone property, the property must also meet all of the following tests. How to refile taxes for 2012 You must have acquired the property, by purchase, after August 27, 2005, but only if no binding written contract for the acquisition was in effect before August 28, 2005. How to refile taxes for 2012 The property must be placed in service before 2008 (2009 in the case of nonresidential real property and residential rental property). How to refile taxes for 2012 Substantially all of the use of the property must be in the GO Zone and in the active conduct of your trade or business in the GO Zone. How to refile taxes for 2012 The original use of the property in the GO Zone must begin with you after August 27, 2005. How to refile taxes for 2012 Used property can be qualified GO Zone property if it has not previously been used within the GO Zone. How to refile taxes for 2012 Also, additional capital expenditures you incurred after August 27, 2005, to recondition or rebuild your property meet the original use test if the original use of the property in the GO Zone began with you. How to refile taxes for 2012 Excepted property. How to refile taxes for 2012   Qualified GO Zone property does not include any of the following. How to refile taxes for 2012 Property required to be depreciated using the Alternative Depreciation System (ADS). How to refile taxes for 2012 Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103. How to refile taxes for 2012 Property for which you are claiming a commercial revitalization deduction. How to refile taxes for 2012 Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. How to refile taxes for 2012 Any gambling or animal racing property (as defined below). How to refile taxes for 2012 Property in the same class as that for which you elected not to claim the special GO Zone depreciation allowance. How to refile taxes for 2012   Gambling or animal racing property is: Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing, and The portion of any real property (determined by square footage) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing, unless this portion is less than 100 square feet. How to refile taxes for 2012 Recapture of special allowance. How to refile taxes for 2012   If, in any year after the year you claim the special allowance, the property ceases to be qualified GO Zone property, you may have to recapture as ordinary income any excess benefit you received from claiming the special allowance. How to refile taxes for 2012 Increased Section 179 Deduction An increased section 179 deduction is allowable for qualified section 179 Gulf Opportunity (GO) Zone property (as defined later) placed in service in the GO Zone. How to refile taxes for 2012 Increased dollar limit. How to refile taxes for 2012   The limit on the section 179 deduction ($105,000 for 2005, $108,000 for 2006) for qualified section 179 GO Zone property acquired after August 27, 2005, is increased by the smaller of: $100,000, or The cost of qualified section 179 GO Zone property placed in service during the year (including such property placed in service by your spouse, even if you are filing a separate return). How to refile taxes for 2012   The amount for which you can make the election is reduced if the cost of all qualified section 179 GO Zone property you placed in service during the year exceeds $420,000 for 2005 ($430,000 for 2006) increased by the smaller of: $600,000, or The cost of qualified section 179 GO Zone property placed in service during the year. How to refile taxes for 2012 Qualified section 179 GO Zone property. How to refile taxes for 2012   Qualified section 179 GO Zone property is section 179 property that is qualified GO Zone property (explained earlier under Special Depreciation Allowance). How to refile taxes for 2012 Section 179 property does not include nonresidential real property or residential rental property. How to refile taxes for 2012 For more information, including the requirements that must be met for property to qualify for the section 179 deduction, see chapter 2 of Publication 946. How to refile taxes for 2012 Work Opportunity Credit For the work opportunity credit, the definition of “targeted group employee” has been expanded to include a Hurricane Katrina employee. How to refile taxes for 2012 Hurricane Katrina employee. How to refile taxes for 2012   A Hurricane Katrina employee is: A person who, on August 28, 2005, had a main home in the core disaster area and, within a two-year period beginning on that date, is hired to perform services principally in the core disaster area; or A person who, on August 28, 2005, had a main home in the core disaster area, was displaced from that main home as a result of Hurricane Katrina, and was hired during the period beginning on August 28, 2005, and ending on December 31, 2005. How to refile taxes for 2012 Qualified wages. How to refile taxes for 2012   Generally, qualified wages do not include wages you paid to a targeted group employee who worked for you previously. How to refile taxes for 2012 However, wages will qualify if: You paid them to an employee who is a Hurricane Katrina employee, The employee was not in your employment on August 28, 2005, and This is your first hire of the employee as a Hurricane Katrina employee after August 28, 2005. How to refile taxes for 2012   For more information, see Form 5884. How to refile taxes for 2012 Certification requirements. How to refile taxes for 2012   An employee must provide to the employer reasonable evidence that he or she is a Hurricane Katrina employee. How to refile taxes for 2012 An employer may accept a completed Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity and Welfare-to-Work Credits, as such evidence. How to refile taxes for 2012 The certification requirements described in Form 8850 do not apply to a Hurricane Katrina employee. How to refile taxes for 2012 Do not send any Forms 8850 that have only box 1 checked to the state employment security agency. How to refile taxes for 2012 Instead, the employer should keep these Forms 8850 with the employer's other records. How to refile taxes for 2012 For more information, see Form 8850 and its instructions. How to refile taxes for 2012 Employee Retention Credit An eligible employer who conducted an active trade or business in the Gulf Opportunity (GO) Zone, the Rita GO Zone, or the Wilma GO Zone can claim the employee retention credit. How to refile taxes for 2012 The credit is 40% of qualified wages for each eligible employee (up to a maximum of $6,000 in qualified wages per employee). How to refile taxes for 2012 Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). How to refile taxes for 2012 Use Form 5884-A to claim the credit. How to refile taxes for 2012 See the following rules and definitions for each hurricane. How to refile taxes for 2012 Employers affected by Hurricane Katrina. How to refile taxes for 2012   The following definitions apply to employers affected by Hurricane Katrina. How to refile taxes for 2012 Eligible employer. How to refile taxes for 2012   For this purpose, an eligible employer is any employer who conducted an active trade or business on August 28, 2005, in the GO Zone and whose trade or business was inoperable on any day after August 28, 2005, and before January 1, 2006, because of damage caused by Hurricane Katrina. How to refile taxes for 2012 Eligible employee. How to refile taxes for 2012   For this purpose, an eligible employee is an employee whose principal place of employment on August 28, 2005, with such eligible employer was in the GO Zone. How to refile taxes for 2012 An employee is not an eligible employee for purposes of Hurricane Katrina if the employee is treated as an eligible employee for the work opportunity credit. How to refile taxes for 2012 Employers affected by Hurricane Rita. How to refile taxes for 2012   The following definitions apply to employers affected by Hurricane Rita. How to refile taxes for 2012 Eligible employer. How to refile taxes for 2012   For this purpose, an eligible employer is any employer who conducted an active trade or business on September 23, 2005, in the Rita GO Zone and whose trade or business was inoperable on any day after September 23, 2005, and before January 1, 2006, because of damage caused by Hurricane Rita. How to refile taxes for 2012 Eligible employee. How to refile taxes for 2012   For this purpose, an eligible employee is an employee whose principal place of employment on September 23, 2005, with such eligible employer was in the Rita GO Zone. How to refile taxes for 2012 An employee is not an eligible employee for purposes of Hurricane Rita if the employee is treated as an eligible employee for the work opportunity credit or the Hurricane Katrina employee retention credit. How to refile taxes for 2012 Employers affected by Hurricane Wilma. How to refile taxes for 2012   The following definitions apply to employers affected by Hurricane Wilma. How to refile taxes for 2012 Eligible employer. How to refile taxes for 2012   For this purpose, an eligible employer is any employer who conducted an active trade or business on October 23, 2005, in the Wilma GO Zone and whose trade or business was inoperable on any day after October 23, 2005, and before January 1, 2006, because of damage caused by Hurricane Wilma. How to refile taxes for 2012 Eligible employee. How to refile taxes for 2012   For this purpose, an eligible employee is an employee whose principal place of employment on October 23, 2005, with such eligible employer was in the Wilma GO Zone. How to refile taxes for 2012 An employee is not an eligible employee for purposes of Hurricane Wilma if the employee is treated as an eligible employee for the work opportunity credit or the Hurricane Katrina or Rita employee retention credit. How to refile taxes for 2012 Qualified wages. How to refile taxes for 2012   Qualified wages are wages you paid or incurred before January 1, 2006, (up to $6,000 per employee) for an eligible employee beginning on the date your trade or business first became inoperable at the employee's principal place of employment immediately before the applicable hurricane, and ending on the date your trade or business resumed significant operations at that place. How to refile taxes for 2012 In addition, the wages must have been paid or incurred after the following date. How to refile taxes for 2012 August 28, 2005, for Hurricane Katrina. How to refile taxes for 2012 September 23, 2005, for Hurricane Rita. How to refile taxes for 2012 October 23, 2005, for Hurricane Wilma. How to refile taxes for 2012    This includes wages paid even if the employee performed no services, performed services at a place of employment other than the principal place of employment, or performed services at the principal place of employment before significant operations resumed. How to refile taxes for 2012    Wages qualifying for the credit generally have the same meaning as wages subject to the Federal Unemployment Tax Act (FUTA). How to refile taxes for 2012 Qualified wages also include amounts you paid for medical or hospitalization expenses in connection with sickness or accident disability. How to refile taxes for 2012 Qualified wages for any employee must be reduced by the amount of any work supplementation payment you received under the Social Security Act. How to refile taxes for 2012   For agricultural employees, if the work performed by any employee during more than half of any pay period qualified under FUTA as agricultural labor, that employee's wages subject to social security and Medicare taxes are qualified wages. How to refile taxes for 2012 For a special rule that applies to railroad employees, see section 51(h)(1)(B). How to refile taxes for 2012   Qualified wages do not include the following. How to refile taxes for 2012 Wages paid to your dependent or a related individual. How to refile taxes for 2012 See section 51(i)(1). How to refile taxes for 2012 Wages paid to any employee during the period for which you received payment for the employee from a federally funded on-the-job training program. How to refile taxes for 2012 Wages for services of replacement workers during a strike or lockout. How to refile taxes for 2012   For more information, see Form 5884-A. How to refile taxes for 2012 Hurricane Katrina Housing Credit An employer who conducted an active trade or business in the Gulf Opportunity (GO) Zone can claim the Hurricane Katrina housing credit. How to refile taxes for 2012 The credit is equal to 30% of the value (up to $600 per month per employee) of in-kind lodging furnished to a qualified employee (and the employee's spouse or dependents) from January 1, 2006, through July 1, 2006. How to refile taxes for 2012 The value of the lodging is excluded from the income of the qualified employee but is treated as wages for purposes of taxes imposed under the Federal Insurance Contributions Act (FICA) and the Federal Unemployment Tax Act (FUTA). How to refile taxes for 2012 Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). How to refile taxes for 2012 The employer must use Form 5884-A to claim the credit. How to refile taxes for 2012 A qualified employee is an individual who had a main home in the GO Zone on August 28, 2005, and who performs substantially all employment services in the GO Zone for the employer furnishing the lodging. How to refile taxes for 2012 The employee cannot be your dependent or a related individual. How to refile taxes for 2012 See section 51(i)(1). How to refile taxes for 2012 For more information, see Form 5884-A. How to refile taxes for 2012 Reforestation Costs You may be able to elect to deduct a limited amount of reforestation costs for each qualified timber property. How to refile taxes for 2012 The deduction for any tax year generally is limited to $10,000 ($5,000 if married filing separately, $0 for a trust). How to refile taxes for 2012 However, this limit is increased if you paid or incurred reforestation costs after the applicable date below and any portion of the qualified timber property is located in one of the following areas. How to refile taxes for 2012 August 27, 2005, if any portion of the property is located in the GO Zone. How to refile taxes for 2012 September 22, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone). How to refile taxes for 2012 October 22, 2005, if any portion of the property is located in the Wilma GO Zone. How to refile taxes for 2012 The limit for each qualified timber property is increased by the smaller of: $10,000 ($5,000 if married filing separately, $0 for a trust), or The amount of reforestation costs you paid or incurred after the applicable date for the qualified timber property, any portion of which is located in the zone described above. How to refile taxes for 2012 The increase in the limit applies only to costs paid or incurred before 2008. How to refile taxes for 2012 However, these rules do not apply to any timber producer who: Held more than 500 acres of qualified timber property at any time during the tax year, Is a corporation with stock publicly traded on an established securities market, or Is a real estate investment trust. How to refile taxes for 2012 For more information about the election to deduct reforestation costs, see chapter 8 in Publication 535, Business Expenses. How to refile taxes for 2012 Demolition and Clean-up Costs You can elect to deduct 50% of any qualified GO Zone clean-up costs for the tax year in which the costs are paid or incurred, instead of capitalizing them. How to refile taxes for 2012 Qualified GO Zone clean-up costs are any amounts paid or incurred after August 27, 2005, and before January 1, 2008, for the removal of debris from, or the demolition of structures on, real property located in the GO Zone that is: Held by you for use in a trade or business or for the production of income, or Inventory or other property held primarily for sale to customers in the ordinary course of your trade or business. How to refile taxes for 2012 Increase in Rehabilitation Tax Credit The rehabilitation credit is increased for qualified rehabilitation expenditures paid or incurred after August 27, 2005, and before January 1, 2009, on buildings located in the GO Zone as follows. How to refile taxes for 2012 For pre-1936 buildings (other than certified historic structures), the credit percentage is increased from 10% to 13%. How to refile taxes for 2012 For certified historic structures, the credit percentage is increased from 20% to 26%. How to refile taxes for 2012 For more information, see Form 3468, Investment Credit. How to refile taxes for 2012 Request for Copy or Transcript of Tax Return Request for copy of tax return. How to refile taxes for 2012   You can use Form 4506 to order a copy of your tax return. How to refile taxes for 2012 Generally, there is a $39. How to refile taxes for 2012 00 fee for requesting each copy of a tax return. How to refile taxes for 2012 If your main home, principal place of business, or tax records are located in a Presidentially declared disaster area, the fee will be waived if the assigned disaster designation (for example, “Hurricane Katrina”) is written in red across the top of the form when filed. How to refile taxes for 2012 Request for transcript of tax return. How to refile taxes for 2012   You can use Form 4506-T to order a free transcript of your tax return. How to refile taxes for 2012 A transcript provides most of the line entries from a tax return and usually contains the information that a third party requires. How to refile taxes for 2012 You can also call 1-800-829-1040 to order a transcript. How to refile taxes for 2012 How To Get Tax Help Special IRS assistance. How to refile taxes for 2012   The IRS is providing special help for those affected by Hurricane Katrina, Rita, or Wilma, as well as survivors and personal representatives of the victims. How to refile taxes for 2012 We have set up a special toll-free number for people who may have trouble filing or paying their taxes because they were affected by Hurricane Katrina, Rita, or Wilma, or who have other tax issues related to the hurricanes. How to refile taxes for 2012 Call 1-866-562-5227 Monday through Friday In English-7 a. How to refile taxes for 2012 m. How to refile taxes for 2012 to 10 p. How to refile taxes for 2012 m. How to refile taxes for 2012 local time In Spanish-8 a. How to refile taxes for 2012 m. How to refile taxes for 2012 to 9:30 p. How to refile taxes for 2012 m. How to refile taxes for 2012 local time   The IRS website at www. How to refile taxes for 2012 irs. How to refile taxes for 2012 gov has notices and other tax relief information. How to refile taxes for 2012 Check it periodically for any new guidance. How to refile taxes for 2012 Other help from the IRS. How to refile taxes for 2012   You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get more information from the IRS in several ways. How to refile taxes for 2012 By selecting the method that is best for you, you will have quick and easy access to tax help. How to refile taxes for 2012 Contacting your Taxpayer Advocate. How to refile taxes for 2012   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. How to refile taxes for 2012   The Taxpayer Advocate independently represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. How to refile taxes for 2012 While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. How to refile taxes for 2012   To contact your Taxpayer Advocate: Call the Taxpayer Advocate toll free at 1-877-777-4778. How to refile taxes for 2012 Call, write, or fax the Taxpayer Advocate office in your area. How to refile taxes for 2012 Call 1-800-829-4059 if you are a TTY/TDD user. How to refile taxes for 2012 Visit www. How to refile taxes for 2012 irs. How to refile taxes for 2012 gov/advocate. How to refile taxes for 2012   For more information, see Publication 1546, How To Get Help With Unresolved Tax Problems (now available in Chinese, Korean, Russian, and Vietnamese, in addition to English and Spanish). How to refile taxes for 2012 Free tax services. How to refile taxes for 2012   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. How to refile taxes for 2012 It contains a list of free tax publications and an index of tax topics. How to refile taxes for 2012 It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. How to refile taxes for 2012 Internet. How to refile taxes for 2012 You can access the IRS website 24 hours a day, 7 days a week, at www. How to refile taxes for 2012 irs. How to refile taxes for 2012 gov to: E-file your return. How to refile taxes for 2012 Find out about commercial tax preparation and e-file services available free to eligible taxpayers. How to refile taxes for 2012 Check the status of your refund. How to refile taxes for 2012 Click on Where's My Refund. How to refile taxes for 2012 Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). How to refile taxes for 2012 Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. How to refile taxes for 2012 Download forms, instructions, and publications. How to refile taxes for 2012 Order IRS products online. How to refile taxes for 2012 Research your tax questions online. How to refile taxes for 2012 Search publications online by topic or keyword. How to refile taxes for 2012 View Internal Revenue Bulletins (IRBs) published in the last few years. How to refile taxes for 2012 Figure your withholdin