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State Return Tax Form 2013

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State Return Tax Form 2013

State return tax form 2013 Publication 560 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionSEP plans. State return tax form 2013 SIMPLE plans. State return tax form 2013 Qualified plans. State return tax form 2013 Ordering forms and publications. State return tax form 2013 Tax questions. State return tax form 2013 Future Developments For the latest information about developments related to Publication 560, such as legislation enacted after we release it, go to www. State return tax form 2013 irs. State return tax form 2013 gov/pub560. State return tax form 2013 What's New Compensation limit increased for 2013 and 2014. State return tax form 2013  For 2013 the maximum compensation used for figuring contributions and benefits increases to $255,000. State return tax form 2013 This limit increases to $260,000 for 2014. State return tax form 2013 Elective deferral limit for 2013 and 2014. State return tax form 2013  The limit on elective deferrals, other than catch-up contributions, increases to $17,500 for 2013 and remains at $17,500 for 2014. State return tax form 2013 These limits apply for participants in SARSEPs, 401(k) plans (excluding SIMPLE plans), section 403(b) plans and section 457(b) plans. State return tax form 2013 Defined contribution limit increased for 2013 and 2014. State return tax form 2013  The limit on contributions, other than catch-up contributions, for a participant in a defined contribution plan increases to $51,000 for 2013. State return tax form 2013 This limit increases to $52,000 for 2014. State return tax form 2013 SIMPLE plan salary reduction contribution limit for 2013 and 2014. State return tax form 2013  The limit on salary reduction contributions, other than catch-up contributions, increases to $12,000 for 2013 and remains at $12,000 for 2014. State return tax form 2013 Catch-up contribution limit remains unchanged for 2013 and 2014. State return tax form 2013  A plan can permit participants who are age 50 or over at the end of the calendar year to make catch-up contributions in addition to elective deferrals and SIMPLE plan salary reduction contributions. State return tax form 2013 The catch-up contribution limitation for defined contribution plans other than SIMPLE plans remains unchanged at $5,500 for 2013 and 2014. State return tax form 2013 The catch-up contribution limitation for SIMPLE plans remains unchanged at $2,500 for 2013 and 2014. State return tax form 2013 The catch-up contributions a participant can make for a year cannot exceed the lesser of the following amounts. State return tax form 2013 The catch-up contribution limit. State return tax form 2013 The excess of the participant's compensation over the elective deferrals that are not catch-up contributions. State return tax form 2013 See “Catch-up contributions” under Contribution Limits and Limit on Elective Deferrals in chapters 3 and 4, respectively, for more information. State return tax form 2013 All section references are to the Internal Revenue Code, unless otherwise stated. State return tax form 2013 Reminders In-plan Roth rollovers. State return tax form 2013  Section 402A(c)(4) provides for a distribution from an individual's account in a 401(k) plan, other than from a designated Roth account, that is rolled over to the individual's designated Roth account in the same plan. State return tax form 2013 An in-plan Roth rollover is not treated as a distribution for most purposes. State return tax form 2013 Section 402A(c)(4) was added by the Small Business Jobs Act of 2010 and applies to distributions made after September 27, 2010. State return tax form 2013 For additional guidance on in-plan Roth rollovers, see Notice 2010-84, 2010-51 I. State return tax form 2013 R. State return tax form 2013 B. State return tax form 2013 872, available at  www. State return tax form 2013 irs. State return tax form 2013 gov/irb/2010-51_IRB/ar11. State return tax form 2013 html. State return tax form 2013 In-plan Roth rollovers expanded. State return tax form 2013  Beginning in 2013, a plan with designated Roth accounts can permit a participant to roll over amounts into a designated Roth account from his or her other accounts in the same plan, regardless of whether the participant is eligible for a distribution from the other accounts. State return tax form 2013 Section 402A(c)(4) was amended by the American Taxpayer Relief Act of 2012. State return tax form 2013 For more information, see Notice 2013-74, 2013-52 I. State return tax form 2013 R. State return tax form 2013 B. State return tax form 2013 819, available at www. State return tax form 2013 irs. State return tax form 2013 gov/irb/2013-52_IRB/ar11. State return tax form 2013 html. State return tax form 2013 Credit for startup costs. State return tax form 2013  You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SEP, SIMPLE, or qualified plan. State return tax form 2013 The credit equals 50% of the cost to set up and administer the plan and educate employees about the plan, up to a maximum of $500 per year for each of the first 3 years of the plan. State return tax form 2013 You can choose to start claiming the credit in the tax year before the tax year in which the plan becomes effective. State return tax form 2013 You must have had 100 or fewer employees who received at least $5,000 in compensation from you for the preceding year. State return tax form 2013 At least one participant must be a non-highly compensated employee. State return tax form 2013 The employees generally cannot be substantially the same employees for whom contributions were made or benefits accrued under a plan of any of the following employers in the 3-tax-year period immediately before the first year to which the credit applies. State return tax form 2013 You. State return tax form 2013 A member of a controlled group that includes you. State return tax form 2013 A predecessor of (1) or (2). State return tax form 2013 The credit is part of the general business credit, which can be carried back or forward to other tax years if it cannot be used in the current year. State return tax form 2013 However, the part of the general business credit attributable to the small employer pension plan startup cost credit cannot be carried back to a tax year beginning before January 1, 2002. State return tax form 2013 You cannot deduct the part of the startup costs equal to the credit claimed for a tax year, but you can choose not to claim the allowable credit for a tax year. State return tax form 2013 To take the credit, use Form 8881, Credit for Small Employer Pension Plan Startup Costs. State return tax form 2013 Retirement savings contributions credit. State return tax form 2013  Retirement plan participants (including self-employed individuals) who make contributions to their plan may qualify for the retirement savings contribution credit. State return tax form 2013 The maximum contribution eligible for the credit is $2,000. State return tax form 2013 To take the credit, use Form 8880, Credit for Qualified Retirement Savings Contributions. State return tax form 2013 For more information on who is eligible for the credit, retirement plan contributions eligible for the credit and how to figure the credit, see Form 8880 and its instructions or go to the IRS website and search Retirement Topics-Retirement Savings Contributions Credit (Saver's Credit). State return tax form 2013 Photographs of missing children. State return tax form 2013  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. State return tax form 2013 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. State return tax form 2013 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. State return tax form 2013 Introduction This publication discusses retirement plans you can set up and maintain for yourself and your employees. State return tax form 2013 In this publication, “you” refers to the employer. State return tax form 2013 See chapter 1 for the definition of the term employer and the definitions of other terms used in this publication. State return tax form 2013 This publication covers the following types of retirement plans. State return tax form 2013 SEP (simplified employee pension) plans. State return tax form 2013 SIMPLE (savings incentive match plan for employees) plans. State return tax form 2013 Qualified plans (also called H. State return tax form 2013 R. State return tax form 2013 10 plans or Keogh plans when covering self-employed individuals), including 401(k) plans. State return tax form 2013 SEP, SIMPLE, and qualified plans offer you and your employees a tax-favored way to save for retirement. State return tax form 2013 You can deduct contributions you make to the plan for your employees. State return tax form 2013 If you are a sole proprietor, you can deduct contributions you make to the plan for yourself. State return tax form 2013 You can also deduct trustees' fees if contributions to the plan do not cover them. State return tax form 2013 Earnings on the contributions are generally tax free until you or your employees receive distributions from the plan. State return tax form 2013 Under a 401(k) plan, employees can have you contribute limited amounts of their before-tax (after-tax, in the case of a qualified Roth contribution program) pay to the plan. State return tax form 2013 These amounts (and the earnings on them) are generally tax free until your employees receive distributions from the plan or, in the case of a qualified distribution from a designated Roth account, completely tax free. State return tax form 2013 What this publication covers. State return tax form 2013   This publication contains the information you need to understand the following topics. State return tax form 2013 What type of plan to set up. State return tax form 2013 How to set up a plan. State return tax form 2013 How much you can contribute to a plan. State return tax form 2013 How much of your contribution is deductible. State return tax form 2013 How to treat certain distributions. State return tax form 2013 How to report information about the plan to the IRS and your employees. State return tax form 2013 Basic features of SEP, SIMPLE, and qualified plans. State return tax form 2013 The key rules for SEP, SIMPLE, and qualified plans are outlined in Table 1. State return tax form 2013 SEP plans. State return tax form 2013   SEPs provide a simplified method for you to make contributions to a retirement plan for yourself and your employees. State return tax form 2013 Instead of setting up a profit-sharing or money purchase plan with a trust, you can adopt a SEP agreement and make contributions directly to a traditional individual retirement account or a traditional individual retirement annuity (SEP-IRA) set up for yourself and each eligible employee. State return tax form 2013 SIMPLE plans. State return tax form 2013   Generally, if you had 100 or fewer employees who received at least $5,000 in compensation last year, you can set up a SIMPLE plan. State return tax form 2013 Under a SIMPLE plan, employees can choose to make salary reduction contributions rather than receiving these amounts as part of their regular pay. State return tax form 2013 In addition, you will contribute matching or nonelective contributions. State return tax form 2013 The two types of SIMPLE plans are the SIMPLE IRA plan and the SIMPLE 401(k) plan. State return tax form 2013 Qualified plans. State return tax form 2013   The qualified plan rules are more complex than the SEP plan and SIMPLE plan rules. State return tax form 2013 However, there are advantages to qualified plans, such as increased flexibility in designing plans and increased contribution and deduction limits in some cases. State return tax form 2013 Table 1. State return tax form 2013 Key Retirement Plan Rules for 2013 Type  of  Plan Last Date for Contribution Maximum Contribution Maximum Deduction When To Set Up Plan SEP Due date of employer's return (including extensions). State return tax form 2013 Smaller of $51,000 or 25%1 of participant's compensation. State return tax form 2013 2 25%1 of all participants' compensation. State return tax form 2013 2 Any time up to the due date of employer's return (including extensions). State return tax form 2013 SIMPLE IRA and SIMPLE 401(k) Salary reduction contributions: 30 days after the end of the month for which the contributions are to be made. State return tax form 2013 4  Matching or nonelective contributions: Due date of employer's return (including extensions). State return tax form 2013 Employee contribution: Salary reduction contribution up to $12,000, $14,500 if age 50 or over. State return tax form 2013   Employer contribution:  Either dollar-for-dollar matching contributions, up to 3% of employee's compensation,3 or fixed nonelective contributions of 2% of compensation. State return tax form 2013 2 Same as maximum contribution. State return tax form 2013 Any time between 1/1 and 10/1 of the calendar year. State return tax form 2013   For a new employer coming into existence after 10/1, as soon as administratively feasible. State return tax form 2013 Qualified Plan: Defined Contribution Plan  Elective deferral: Due date of employer's return (including extensions). State return tax form 2013 4   Employer contribution: Money Purchase or Profit-Sharing: Due date of employer's return (including extensions). State return tax form 2013  Employee contribution: Elective deferral up to $17,500, $23,000 if age 50 or over. State return tax form 2013   Employer contribution: Money Purchase: Smaller of $51,000 or 100%1 of participant's compensation. State return tax form 2013 2  Profit-Sharing: Smaller of $51,000 or 100%1 of participant's compensation. State return tax form 2013 2  25%1 of all participants' compensation2, plus amount of elective deferrals made. State return tax form 2013   By the end of the tax year. State return tax form 2013 Qualified Plan: Defined Benefit Plan Contributions generally must be paid in quarterly installments, due 15 days after the end of each quarter. State return tax form 2013 See Minimum Funding Requirement in chapter 4. State return tax form 2013 Amount needed to provide an annual benefit no larger than the smaller of $205,000 or 100% of the participant's average compensation for his or her highest 3 consecutive calendar years. State return tax form 2013 Based on actuarial assumptions and computations. State return tax form 2013 By the end of the tax year. State return tax form 2013 1Net earnings from self-employment must take the contribution into account. State return tax form 2013 See Deduction Limit for Self-Employed Individuals in chapters 2 and 4 . State return tax form 2013  2Compensation is generally limited to $255,000 in 2013. State return tax form 2013  3Under a SIMPLE 401(k) plan, compensation is generally limited to $255,000 in 2013. State return tax form 2013  4Certain plans subject to Department of Labor rules may have an earlier due date for salary reduction contributions and elective deferrals. State return tax form 2013 What this publication does not cover. State return tax form 2013   Although the purpose of this publication is to provide general information about retirement plans you can set up for your employees, it does not contain all the rules and exceptions that apply to these plans. State return tax form 2013 You may also need professional help and guidance. State return tax form 2013   Also, this publication does not cover all the rules that may be of interest to employees. State return tax form 2013 For example, it does not cover the following topics. State return tax form 2013 The comprehensive IRA rules an employee needs to know. State return tax form 2013 These rules are covered in Publication 590, Individual Retirement Arrangements (IRAs). State return tax form 2013 The comprehensive rules that apply to distributions from retirement plans. State return tax form 2013 These rules are covered in Publication 575, Pension and Annuity Income. State return tax form 2013 The comprehensive rules that apply to section 403(b) plans. State return tax form 2013 These rules are covered in Publication 571, Tax-Sheltered Annuity Plans (403(b) Plans). State return tax form 2013 Comments and suggestions. State return tax form 2013   We welcome your comments about this publication and your suggestions for future editions. State return tax form 2013   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. State return tax form 2013 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. State return tax form 2013 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. State return tax form 2013   You can send your comments from www. State return tax form 2013 irs. State return tax form 2013 gov/formspubs. State return tax form 2013 Click on “More Information” and then on “Give us feedback. State return tax form 2013 ”   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. State return tax form 2013 Ordering forms and publications. State return tax form 2013   Visit www. State return tax form 2013 irs. State return tax form 2013 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. State return tax form 2013 Internal Revenue Service 1201 N. State return tax form 2013 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. State return tax form 2013   If you have a tax question, check the information available on IRS. State return tax form 2013 gov or call 1-800-829-1040. State return tax form 2013 We cannot answer tax questions sent to either of the above addresses. State return tax form 2013 Note. State return tax form 2013 Forms filed electronically with the Department of Labor are not available on the IRS website. State return tax form 2013 Instead, see www. State return tax form 2013 efast. State return tax form 2013 dol. State return tax form 2013 gov. State return tax form 2013 Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Gift Tax Statistics

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What is the Federal Gift Tax?


 

The Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts. Reported on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, data are collected on the donor and recipient of gifts that exceed the annual exclusion. The name of the recipient, recipient's relationship to the donor, type of property, and value of gift are reported, as are the total value of a donor's lifetime gifts and tax computation items.

For information about selected terms and concepts and a description of the data sources and limitations, please visit Gift Tax Study Metadata.

 


 

Statistical Tables

Total Gifts of Donor, Total Gifts, Deductions, Credits, and Net Gift Tax

 

 


SOI Bulletin Articles

These articles are in .PDF format.  Adobe Acrobat® reader

 

2009 Gifts
This article presents data on gifts made during 2009. Donors filed a total of 223,093 returns for 2009, reporting a total of $$37.9 billion in assets transferred to 867,507 donees, primarily children and grandchildren.

2008 Gifts
This article presents data on gifts made during 2008. Donors filed a total of 234,714 returns for 2008, reporting a total of $40.2 billion in assets transferred to 927,554 donees, primarily children and grandchildren.

2007 Gifts
This article describes gifts made during calendar year 2007.  There were a total of 257,485 gift tax returns filed in 2008.  247,932 returns, or 96.3 percent, were nontaxable.  The remaining 9,553 (3.7 percent) were taxable.

Wealth Transfers, 2005 Gifts

This article describes gifts made during calendar year 2005.  A total of $38.5 billion in assets was transferred from donors to donees, or gift recipients.  Only 2.9 percent of returns were taxable, with $1.7 billion in gift tax liability reported.

 

Inter Vivos Wealth Transfers, 1997 Gifts
This article describes gifts made during calendar year 1997.  Like transfers of wealth at death, wealth transfers during life—called inter vivos wealth transfers—are subject to Federal taxation.  Only individual gifts in excess of $10,000 were potentially taxable for Gift Year 1997.

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Page Last Reviewed or Updated: 21-Oct-2013

The State Return Tax Form 2013

State return tax form 2013 Publication 559 - Additional Material Prev  Up  Next   Home   More Online Publications