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Internal Revenue Tax Forms 2012

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Internal Revenue Tax Forms 2012

Internal revenue tax forms 2012 Publication 590 - Introductory Material Table of Contents What's New for 2013 What's New for 2014 Reminders IntroductionOrdering forms and publications. Internal revenue tax forms 2012 Tax questions. Internal revenue tax forms 2012 Useful Items - You may want to see: Note. Internal revenue tax forms 2012 After 2013, Publication 590 will be split into two separate publications as follows. Internal revenue tax forms 2012 Publication 590-A, will focus on contributions to traditional IRAs as well as Roth IRAs. Internal revenue tax forms 2012 This publication will include the rules for rollover and conversion contributions. Internal revenue tax forms 2012 Publication 590-B, will focus on distributions from traditional IRAs as well as Roth IRAs. Internal revenue tax forms 2012 This publication will include the rules for required minimum distributions and IRA beneficiaries. Internal revenue tax forms 2012 What's New for 2013 Traditional IRA contribution and deduction limit. Internal revenue tax forms 2012  The contribution limit to your traditional IRA for 2013 will be increased to the smaller of the following amounts: $5,500, or Your taxable compensation for the year. Internal revenue tax forms 2012 If you were age 50 or older before 2014, the most that can be contributed to your traditional IRA for 2013 will be the smaller of the following amounts: $6,500, or Your taxable compensation for the year. Internal revenue tax forms 2012 For more information, see How Much Can Be Contributed? in chapter 1. Internal revenue tax forms 2012 Roth IRA contribution limit. Internal revenue tax forms 2012  If contributions on your behalf are made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $5,500, or Your taxable compensation for the year. Internal revenue tax forms 2012 If you were age 50 or older before 2014 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $6,500, or Your taxable compensation for the year. Internal revenue tax forms 2012 However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Internal revenue tax forms 2012 For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? in chapter 2. Internal revenue tax forms 2012 Modified AGI limit for traditional IRA contributions increased. Internal revenue tax forms 2012  For 2013, if you were covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $95,000 but less than $115,000 for a married couple filing a joint return or a qualifying widow(er), More than $59,000 but less than $69,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Internal revenue tax forms 2012 If you either lived with your spouse or file a joint return, and your spouse was covered by a retirement plan at work, but you were not, your deduction is phased out if your modified AGI is more than $178,000 but less than $188,000. Internal revenue tax forms 2012 If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Internal revenue tax forms 2012 See How Much Can You Deduct? in chapter 1. Internal revenue tax forms 2012 Modified AGI limit for Roth IRA contributions increased. Internal revenue tax forms 2012  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Internal revenue tax forms 2012 Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Internal revenue tax forms 2012 Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2013 and your modified AGI is at least $112,000. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Internal revenue tax forms 2012 Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Internal revenue tax forms 2012 See Can You Contribute to a Roth IRA? in chapter 2. Internal revenue tax forms 2012 Net Investment Income Tax. Internal revenue tax forms 2012  For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 457(b) plans, and IRAs). Internal revenue tax forms 2012 However, these distributions are taken into account when determining the modified adjusted gross income threshold. Internal revenue tax forms 2012 Distributions from a nonqualified retirement plan are included in net investment income. Internal revenue tax forms 2012 See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information. Internal revenue tax forms 2012 Kay Bailey Hutchison Spousal IRA. Internal revenue tax forms 2012 . Internal revenue tax forms 2012  In 2013, spousal IRAs were renamed to Kay Bailey Hutchison Spousal IRAs. Internal revenue tax forms 2012 There are no changes to the rules regarding these IRAs. Internal revenue tax forms 2012 See Kay Bailey Hutchison Spousal IRA Limit in chapter 1 for more information. Internal revenue tax forms 2012 What's New for 2014 Modified AGI limit for traditional IRA contributions increased. Internal revenue tax forms 2012  For 2014, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $96,000 but less than $116,000 for a married couple filing a joint return or a qualifying widow(er), More than $60,000 but less than $70,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Internal revenue tax forms 2012 If you either live with your spouse or file a joint return, and your spouse is covered by a retirement plan at work, but you are not, your deduction is phased out if your modified AGI is more than $181,000 but less than $191,000. Internal revenue tax forms 2012 If your modified AGI is $191,000 or more, you cannot take a deduction for contributions to a traditional IRA. Internal revenue tax forms 2012 Modified AGI limit for Roth IRA contributions increased. Internal revenue tax forms 2012  For 2014, your Roth IRA contribution limit is reduced (phased out) in the following situations. Internal revenue tax forms 2012 Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $181,000. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $191,000 or more. Internal revenue tax forms 2012 Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2014 and your modified AGI is at least $114,000. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $129,000 or more. Internal revenue tax forms 2012 Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Internal revenue tax forms 2012 You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Internal revenue tax forms 2012 Reminders Future developments. Internal revenue tax forms 2012  For the latest information about developments related to Publication 590, such as legislation enacted after it was published, go to www. Internal revenue tax forms 2012 irs. Internal revenue tax forms 2012 gov/pub590. Internal revenue tax forms 2012 Simplified employee pension (SEP). Internal revenue tax forms 2012  SEP IRAs are not covered in this publication. Internal revenue tax forms 2012 They are covered in Publication 560, Retirement Plans for Small Business. Internal revenue tax forms 2012 Deemed IRAs. Internal revenue tax forms 2012  A qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. Internal revenue tax forms 2012 If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. Internal revenue tax forms 2012 An employee's account can be treated as a traditional IRA or a Roth IRA. Internal revenue tax forms 2012 For this purpose, a “qualified employer plan” includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), A tax-sheltered annuity plan (section 403(b) plan), and A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Internal revenue tax forms 2012 Contributions to both traditional and Roth IRAs. Internal revenue tax forms 2012  For information on your combined contribution limit if you contribute to both traditional and Roth IRAs, see Roth IRAs and traditional IRAs under How Much Can Be Contributed? in chapter 2. Internal revenue tax forms 2012 Statement of required minimum distribution (RMD). Internal revenue tax forms 2012  If an RMD is required from your IRA, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the RMD to you, or offer to calculate it for you. Internal revenue tax forms 2012 The report or offer must include the date by which the amount must be distributed. Internal revenue tax forms 2012 The report is due January 31 of the year in which the minimum distribution is required. Internal revenue tax forms 2012 It can be provided with the year-end fair market value statement that you normally get each year. Internal revenue tax forms 2012 No report is required for section 403(b) contracts (generally tax-sheltered annuities) or for IRAs of owners who have died. Internal revenue tax forms 2012 IRA interest. Internal revenue tax forms 2012  Although interest earned from your IRA is generally not taxed in the year earned, it is not tax-exempt interest. Internal revenue tax forms 2012 Tax on your traditional IRA is generally deferred until you take a distribution. Internal revenue tax forms 2012 Do not report this interest on your return as tax-exempt interest. Internal revenue tax forms 2012 For more information on tax-exempt interest, see the instructions for your tax return. Internal revenue tax forms 2012 Photographs of missing children. Internal revenue tax forms 2012  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Internal revenue tax forms 2012 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Internal revenue tax forms 2012 You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Internal revenue tax forms 2012 Introduction This publication discusses individual retirement arrangements (IRAs). Internal revenue tax forms 2012 An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. Internal revenue tax forms 2012 What are some tax advantages of an IRA?   Two tax advantages of an IRA are that: Contributions you make to an IRA may be fully or partially deductible, depending on which type of IRA you have and on your circumstances, and Generally, amounts in your IRA (including earnings and gains) are not taxed until distributed. Internal revenue tax forms 2012 In some cases, amounts are not taxed at all if distributed according to the rules. Internal revenue tax forms 2012 What's in this publication?   This publication discusses traditional, Roth, and SIMPLE IRAs. Internal revenue tax forms 2012 It explains the rules for: Setting up an IRA, Contributing to an IRA, Transferring money or property to and from an IRA, Handling an inherited IRA, Receiving distributions (making withdrawals) from an IRA, and Taking a credit for contributions to an IRA. Internal revenue tax forms 2012   It also explains the penalties and additional taxes that apply when the rules are not followed. Internal revenue tax forms 2012 To assist you in complying with the tax rules for IRAs, this publication contains worksheets, sample forms, and tables, which can be found throughout the publication and in the appendices at the back of the publication. Internal revenue tax forms 2012 How to use this publication. Internal revenue tax forms 2012   The rules that you must follow depend on which type of IRA you have. Internal revenue tax forms 2012 Use Table I-1 to help you determine which parts of this publication to read. Internal revenue tax forms 2012 Also use Table I-1 if you were referred to this publication from instructions to a form. Internal revenue tax forms 2012 Comments and suggestions. Internal revenue tax forms 2012   We welcome your comments about this publication and your suggestions for future editions. Internal revenue tax forms 2012   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Internal revenue tax forms 2012 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Internal revenue tax forms 2012 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Internal revenue tax forms 2012   You can send your comments from www. Internal revenue tax forms 2012 irs. Internal revenue tax forms 2012 gov/formspubs/. Internal revenue tax forms 2012 Click on “More Information” and then on “Comment on Tax Forms and Publications”. Internal revenue tax forms 2012   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Internal revenue tax forms 2012 Ordering forms and publications. Internal revenue tax forms 2012   Visit www. Internal revenue tax forms 2012 irs. Internal revenue tax forms 2012 gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Internal revenue tax forms 2012 Internal Revenue Service 1201 N. Internal revenue tax forms 2012 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Internal revenue tax forms 2012   If you have a tax question, check the information available on IRS. Internal revenue tax forms 2012 gov or call 1-800-829-1040. Internal revenue tax forms 2012 We cannot answer tax questions sent to either of the above addresses. Internal revenue tax forms 2012 Useful Items - You may want to see: Publications 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) 571 Tax-Sheltered Annuity Plans (403(b) Plans) 575 Pension and Annuity Income 939 General Rule for Pensions and Annuities Forms (and instructions) W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Internal revenue tax forms 2012 5304-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–Not for Use With a Designated Financial Institution 5305-S SIMPLE Individual Retirement Trust Account 5305-SA SIMPLE Individual Retirement Custodial Account 5305-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–for Use With a Designated Financial Institution 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 5498 IRA Contribution Information 8606 Nondeductible IRAs 8815 Exclusion of Interest From Series EE and I U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 Savings Bonds Issued After 1989 8839 Qualified Adoption Expenses 8880 Credit for Qualified Retirement Savings Contributions See chapter 5 for information about getting these publications and forms. Internal revenue tax forms 2012 Table I-1. Internal revenue tax forms 2012 Using This Publication IF you need information on . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 THEN see . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 traditional IRAs chapter 1. Internal revenue tax forms 2012 Roth IRAs chapter 2, and parts of  chapter 1. Internal revenue tax forms 2012 SIMPLE IRAs chapter 3. Internal revenue tax forms 2012 the credit for qualified retirement savings contributions (the saver's credit) chapter 4. Internal revenue tax forms 2012 how to keep a record of your contributions to, and distributions from, your traditional IRA(s) appendix A. Internal revenue tax forms 2012 SEP IRAs and 401(k) plans Publication 560. Internal revenue tax forms 2012 Coverdell education savings accounts (formerly called education IRAs) Publication 970. Internal revenue tax forms 2012 IF for 2013, you received social security benefits, had taxable compensation, contributed to a traditional IRA, and you or your spouse was covered by an employer retirement plan, and you want to. Internal revenue tax forms 2012 . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 THEN see . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 . Internal revenue tax forms 2012 first figure your modified adjusted gross income (AGI) appendix B, worksheet 1. Internal revenue tax forms 2012 then figure how much of your traditional IRA contribution you can deduct appendix B, worksheet 2. Internal revenue tax forms 2012 and finally figure how much of your social security is taxable appendix B, worksheet 3. Internal revenue tax forms 2012 Table I-2. Internal revenue tax forms 2012 How Are a Traditional IRA and a Roth IRA Different? This table shows the differences between traditional and Roth IRAs. Internal revenue tax forms 2012 Answers in the middle column apply to traditional IRAs. Internal revenue tax forms 2012 Answers in the right column apply to Roth IRAs. Internal revenue tax forms 2012 Question Answer   Traditional IRA? Roth IRA? Is there an age limit on when I can open and contribute to a Yes. Internal revenue tax forms 2012 You must not have reached age  70½ by the end of the year. Internal revenue tax forms 2012 See Who Can Open a Traditional IRA? in chapter 1. Internal revenue tax forms 2012 No. Internal revenue tax forms 2012 You can be any age. Internal revenue tax forms 2012 See Can You Contribute to a Roth IRA? in chapter 2. Internal revenue tax forms 2012 If I earned more than $5,500 in 2013 ($6,500 if I was 50 or older by the end of 2013), is there a limit on how much I can contribute to a Yes. Internal revenue tax forms 2012 For 2013, you can contribute to a traditional IRA up to: $5,500, or $6,500 if you were age 50 or older by the end of 2013. Internal revenue tax forms 2012  There is no upper limit on how much you can earn and still contribute. Internal revenue tax forms 2012 See How Much Can Be Contributed? in chapter 1. Internal revenue tax forms 2012 Yes. Internal revenue tax forms 2012 For 2013, you may be able to contribute to a Roth IRA up to: $5,500, or $6,500 if you were age 50 or older by the end of 2013,  but the amount you can contribute may be less than that depending on your income, filing status, and if you contribute to another IRA. Internal revenue tax forms 2012 See How Much Can Be Contributed? and Table 2-1 in chapter 2. Internal revenue tax forms 2012 Can I deduct contributions to a Yes. Internal revenue tax forms 2012 You may be able to deduct your contributions to a traditional IRA depending on your income, filing status, whether you are covered by a retirement plan at work, and whether you receive social security benefits. Internal revenue tax forms 2012 See How Much Can You Deduct? in chapter 1. Internal revenue tax forms 2012 No. Internal revenue tax forms 2012 You can never deduct contributions to a Roth IRA. Internal revenue tax forms 2012 See What Is a Roth IRA? in chapter 2. Internal revenue tax forms 2012 Do I have to file a form just because I contribute to a Not unless you make nondeductible contributions to your traditional IRA. Internal revenue tax forms 2012 In that case, you must file Form 8606. Internal revenue tax forms 2012 See Nondeductible Contributions in chapter 1. Internal revenue tax forms 2012 No. Internal revenue tax forms 2012 You do not have to file a form if you contribute to a Roth IRA. Internal revenue tax forms 2012 See Contributions not reported in chapter 2. Internal revenue tax forms 2012 Do I have to start taking distributions when I reach a certain age from a Yes. Internal revenue tax forms 2012 You must begin receiving required minimum distributions by April 1 of the year following the year you reach age 70½. Internal revenue tax forms 2012 See When Must You Withdraw Assets? (Required Minimum Distributions) in chapter 1. Internal revenue tax forms 2012 No. Internal revenue tax forms 2012 If you are the original owner of a Roth IRA, you do not have to take distributions regardless of your age. Internal revenue tax forms 2012 See Are Distributions Taxable? in chapter 2. Internal revenue tax forms 2012 However, if you are the beneficiary of a Roth IRA, you may have to take distributions. Internal revenue tax forms 2012 See Distributions After Owner's Death in chapter 2. Internal revenue tax forms 2012 How are distributions taxed from a Distributions from a traditional IRA are taxed as ordinary income, but if you made nondeductible contributions, not all of the distribution is taxable. Internal revenue tax forms 2012 See Are Distributions Taxable? in chapter 1. Internal revenue tax forms 2012 Distributions from a Roth IRA are not taxed as long as you meet certain criteria. Internal revenue tax forms 2012 See Are Distributions Taxable? in chapter 2. Internal revenue tax forms 2012 Do I have to file a form just because I receive distributions from a Not unless you have ever made a nondeductible contribution to a traditional IRA. Internal revenue tax forms 2012 If you have, file Form 8606. Internal revenue tax forms 2012 See Nondeductible Contributions in chapter 1. Internal revenue tax forms 2012 Yes. Internal revenue tax forms 2012 File Form 8606 if you received distributions from a Roth IRA (other than a rollover, qualified charitable distribution, one-time distribution to fund an HSA, recharacterization, certain qualified distributions, or a return of certain contributions). Internal revenue tax forms 2012 Prev  Up  Next   Home   More Online Publications
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Excise Tax

Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks. Excise Tax has several general excise tax programs. One of the major components of the excise program is motor fuel.

Various Fuel Tax Credits Extended:

Here Are Special Instructions On How To Report
The American Taxpayer Relief Act, enacted Jan. 2, 2013, retroactively extends certain fuel tax credits that expired at the end of 2011. These include the biodiesel mixture credit, biodiesel credit, alternative fuel credit and alternative fuel mixture credit. Generally, eligible taxpayers can now claim these credits on their federal excise tax returns, and if the credits exceed their excise tax liability, the excess can be claimed as a refund or income tax credit. 

Indoor Tanning Service Providers Must File a Federal Excise Tax Return
Beginning July 1, 2010, indoor tanning services will be subject to a 10 percent excise tax under the Affordable Care Act. Filing your Excise Tax return.

Directors Directive on Announcement 2008-18, FET Compliance Initiative
This Directive provides guidance to examiners auditing taxpayers participating in the voluntary compliance initiative (Announcement 2008-18) regarding foreign insurance excise tax (FET) under IRC 4371- 4374.

Excise Summary Terminal Activity Reporting System (ExSTARS)
ExSTARS is a fuel reporting system developed with the cooperation of the IRS, Department of Transportation, states, and motor fuel industry, which details the movement of any product into or out of an IRS approved terminal. A facility control number (FCN) designates a storage location within the motor fuel, or renewable fuel production or the bulk transfer / terminal system. Information regarding the use of FCNs was made public by an announcement in the Federal Register on April 12, 2010.

Excise Tax Electronic Data Interchange (EDI) Guides (Pub. 3536)
Terminal Operators and Bulk Carriers refer to Publication 3536 for EDI filing requirements.

637 Registration Program
Under the Code and regulations, each person that engages in certain specified activities relating to excise tax must be registered by the IRS before engaging in that activity.

Online Form 637 Registration Status Check
This Web application provides the ability for businesses to confirm whether individuals/companies have a valid IRS registration.

Exemption From Excise Tax for Certain Wooden Arrows
On Friday, October 3, 2008, P.L. 110-343 (H.R. 1424), the Emergency Economic Stabilization Act of 2008 (Act), also known as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, was signed into law by the President. The Act includes a key provision in Title V, Section 503 that impacts the Archery federal excise tax.

Field Directive Federal Excise Tax on the Importation and Manufacture of Fishing and Archery Products
This updates the field directive that discusses the Federal Excise Tax on the importation and manufacture of fishing and archery products.

Idling Reduction Devices Exempt from 12% Retail Excise Tax
The Environmental Protection Agency's (EPA) list of devices that reduce highway tractor idling is now available. These devices may be exempt from the 12 percent retail excise tax provided they meet the criteria set forth in section 4053(9) of the Internal Revenue Code.

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The Internal Revenue Tax Forms 2012

Internal revenue tax forms 2012 34. Internal revenue tax forms 2012   Child Tax Credit Table of Contents Introduction Useful Items - You may want to see: Qualifying Child Amount of CreditLimits on the Credit Claiming the Credit Additional Child Tax Credit Completing Schedule 8812 (Form 1040A or 1040)Part I Parts II–IV Introduction The child tax credit is a credit that may reduce your tax by as much as $1,000 for each of your qualifying children. Internal revenue tax forms 2012 The additional child tax credit is a credit you may be able to take if you are not able to claim the full amount of the child tax credit. Internal revenue tax forms 2012 This chapter explains the following. Internal revenue tax forms 2012 Who is a qualifying child. Internal revenue tax forms 2012 The amount of the credit. Internal revenue tax forms 2012 How to claim the credit. Internal revenue tax forms 2012 The child tax credit and the additional child tax credit should not be confused with the child and dependent care credit discussed in chapter 32. Internal revenue tax forms 2012 If you have no tax. Internal revenue tax forms 2012   Credits, such as the child tax credit or the credit for child and dependent care expenses, are used to reduce tax. Internal revenue tax forms 2012 If your tax on Form 1040, line 46, or Form 1040A, line 28, is zero, do not figure the child tax credit because there is no tax to reduce. Internal revenue tax forms 2012 However, you may qualify for the additional child tax credit on line 65 (Form 1040) or line 39 (Form 1040A). Internal revenue tax forms 2012 Useful Items - You may want to see: Publication 972 Child Tax Credit Form (and Instructions) Schedule 8812 (Form 1040A or 1040) Child Tax Credit W-4 Employee's Withholding Allowance Certificate Qualifying Child A qualifying child for purposes of the child tax credit is a child who: Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild, niece, or nephew), Was under age 17 at the end of 2013, Did not provide over half of his or her own support for 2013, Lived with you for more than half of 2013 (see Exceptions to time lived with you , later), Is claimed as a dependent on your return, Does not file a joint return for the year (or files it only as a claim for refund), and Was a U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 citizen, a U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 national, or a resident of the United States. Internal revenue tax forms 2012 If the child was adopted, see Adopted child , later. Internal revenue tax forms 2012 For each qualifying child you must check the box on Form 1040 or Form 1040A, line 6c. Internal revenue tax forms 2012 Example 1. Internal revenue tax forms 2012 Your son turned 17 on December 30, 2013. Internal revenue tax forms 2012 He is a citizen of the United States and you claimed him as a dependent on your return. Internal revenue tax forms 2012 He is not a qualifying child for the child tax credit because he was not under age 17 at the end of 2013. Internal revenue tax forms 2012 Example 2. Internal revenue tax forms 2012 Your daughter turned 8 years old in 2013. Internal revenue tax forms 2012 She is not a citizen of the United States, has an ITIN, and lived in Mexico all of 2013. Internal revenue tax forms 2012 She is not a qualifying child for the child tax credit because she was not a resident of the United States for 2013. Internal revenue tax forms 2012 Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN). Internal revenue tax forms 2012   If you are claiming a child tax credit or additional child tax credit for a child you identified on your tax return with an ITIN instead of an SSN, you must complete Part I of Schedule 8812 (Form 1040A or 1040). Internal revenue tax forms 2012   Although a child may be your dependent, you may only claim a child tax credit or additional child tax credit for a dependent who is a citizen, national, or resident of the United States. Internal revenue tax forms 2012 To be treated as a resident of the United States, a child generally will need to meet the requirements of the substantial presence test. Internal revenue tax forms 2012 For more information about the substantial presence test, see Publication 519, U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 Tax Guide for Aliens. Internal revenue tax forms 2012 Adopted child. Internal revenue tax forms 2012   An adopted child is always treated as your own child. Internal revenue tax forms 2012 An adopted child includes a child lawfully placed with you for legal adoption. Internal revenue tax forms 2012   If you are a U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 citizen or U. Internal revenue tax forms 2012 S. Internal revenue tax forms 2012 national and your adopted child lived with you all year as a member of your household in 2013, that child meets condition (7) above to be a qualifying child for the child tax credit. Internal revenue tax forms 2012 Exceptions to time lived with you. Internal revenue tax forms 2012   A child is considered to have lived with you for more than half of 2013 if the child was born or died in 2013 and your home was this child's home for more than half the time he or she was alive. Internal revenue tax forms 2012 Temporary absences by you or the child for special circumstances, such as for school, vacation, business, medical care, military service, or detention in a juvenile facility, count as time the child lived with you. Internal revenue tax forms 2012   There are also exceptions for kidnapped children and children of divorced or separated parents. Internal revenue tax forms 2012 For details, see Residency Test in chapter 3. Internal revenue tax forms 2012 Qualifying child of more than one person. Internal revenue tax forms 2012   A special rule applies if your qualifying child is the qualifying child of more than one person. Internal revenue tax forms 2012 For details, see Special Rule for Qualifying Child of More Than One Person in chapter 3. Internal revenue tax forms 2012 Amount of Credit The maximum amount you can claim for the credit is $1,000 for each qualifying child. Internal revenue tax forms 2012 Limits on the Credit You must reduce your child tax credit if either (1) or (2) applies. Internal revenue tax forms 2012 The amount on Form 1040, line 46, or Form 1040A, line 28, is less than the credit. Internal revenue tax forms 2012 If this amount is zero, you cannot take this credit because there is no tax to reduce. Internal revenue tax forms 2012 But you may be able to take the additional child tax credit. Internal revenue tax forms 2012 See Additional Child Tax Credit , later. Internal revenue tax forms 2012 Your modified adjusted gross income (AGI) is more than the amount shown below for your filing status. Internal revenue tax forms 2012 Married filing jointly - $110,000. Internal revenue tax forms 2012 Single, head of household, or qualifying widow(er) - $75,000. Internal revenue tax forms 2012 Married filing separately - $55,000. Internal revenue tax forms 2012 Modified AGI. Internal revenue tax forms 2012   For purposes of the child tax credit, your modified AGI is your AGI plus the following amounts that may apply to you. Internal revenue tax forms 2012 Any amount excluded from income because of the exclusion of income from  Puerto Rico. Internal revenue tax forms 2012 On the dotted line next to Form 1040, line 38, enter the amount excluded and identify it as “EPRI. Internal revenue tax forms 2012 ” Also attach a copy of any Form(s) 499R-2/W-2PR to your return. Internal revenue tax forms 2012 Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income. Internal revenue tax forms 2012 Any amount on line 18 of Form 2555-EZ, Foreign Earned Income Exclusion. Internal revenue tax forms 2012 Any amount on line 15 of Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa. Internal revenue tax forms 2012   If you do not have any of the above, your modified AGI is the same as your AGI. Internal revenue tax forms 2012 AGI. Internal revenue tax forms 2012   Your AGI is the amount on Form 1040, line 38, or Form 1040A, line 22. Internal revenue tax forms 2012 Claiming the Credit To claim the child tax credit, you must file Form 1040 or Form 1040A. Internal revenue tax forms 2012 You cannot claim the child tax credit on Form 1040EZ. Internal revenue tax forms 2012 You must provide the name and identification number (usually a social security number) on your tax return for each qualifying child. Internal revenue tax forms 2012 If you claim the child tax credit with a child identified by an ITIN, you must also file Schedule 8812. Internal revenue tax forms 2012 To figure your credit, first review the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions. Internal revenue tax forms 2012 If you are instructed to use Publication 972, you may not use the worksheet in your tax return instructions; instead, you must use Publication 972 to figure the credit. Internal revenue tax forms 2012 If you are not instructed to use Publication 972, you may use the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions or Publication 972 to figure the credit. Internal revenue tax forms 2012 Additional Child Tax Credit This credit is for certain individuals who get less than the full amount of the child tax credit. Internal revenue tax forms 2012 The additional child tax credit may give you a refund even if you do not owe any tax. Internal revenue tax forms 2012 How to claim the additional child tax credit. Internal revenue tax forms 2012   To claim the additional child tax credit, follow the steps below. Internal revenue tax forms 2012 Make sure you figured the amount, if any, of your child tax credit. Internal revenue tax forms 2012 See Claiming the Credit , earlier. Internal revenue tax forms 2012 If you answered “Yes” on line 9 or line 10 of the Child Tax Credit Worksheet in the Form 1040 or Form 1040A instructions, or line 13 of the Child Tax Credit Worksheet in Publication 972, use Parts II through IV of Schedule 8812 to see if you can take the additional child tax credit. Internal revenue tax forms 2012 If you have an additional child tax credit on line 13 of Schedule 8812, carry it to Form 1040, line 65, or Form 1040A, line 39. Internal revenue tax forms 2012 Completing Schedule 8812 (Form 1040A or 1040) Schedule 8812 contains four parts, but can really be thought of as two sections. Internal revenue tax forms 2012 Part I is distinct and separate from Parts II–IV. Internal revenue tax forms 2012 If all your children are identified by social security numbers or IRS adoption taxpayer identification numbers and you are not claiming the additional child tax credit, you do not need to complete or attach Schedule 8812 to your tax return. Internal revenue tax forms 2012 Part I You only need to complete Part I if you are claiming the child tax credit for a child identified by an IRS individual taxpayer identification number (ITIN). Internal revenue tax forms 2012 When completing Part I, only answer the questions with regard to children identified by an ITIN; you do not need to complete Part I of Schedule 8812 for any child that is identified by a social security number (SSN) or an IRS adoption taxpayer identification number (ATIN). Internal revenue tax forms 2012 If all the children for whom you checked the box in column 4 of line 6c on your Form 1040 or Form 1040A are identified by an SSN or an ATIN, you do not need to complete Part I of Schedule 8812. Internal revenue tax forms 2012 Parts II–IV Parts II–IV help you figure your additional child tax credit. Internal revenue tax forms 2012 Generally, you should only complete Parts II–IV if you are instructed to do so after completing the Child Tax Credit Worksheet in your tax return instructions or Publication 972. Internal revenue tax forms 2012 See How to claim the additional child tax credit , earlier. Internal revenue tax forms 2012 Prev  Up  Next   Home   More Online Publications