File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

What Forms Do I Need To File An Amended Tax Return

Online Ez FormInstructions For 1040ez Form2014 1040ez FormElectronic 1040ezFile 2012 Taxes Late FreeIrs Amended Tax FormIrs E File 2013File 1040 Ez Online FreeIrs Income Tax Forms 2011Free Tax Preparation MilitaryHow To Ammend TaxesFree EfileH&r Block Free MilitaryTurbo Taxes 20112010 Tax Software Free DownloadFile Past Taxes For FreeHrblock FreeHow Do I Refile My TaxesFree Irs Tax FilingCan I Do My 2012 Taxes NowE-file State Tax OnlyFree 1040xWww Irs Gov Amended Tax ReturnFree Tax Forms 2011Where To Mail 1040x2010 Federal Tax Form 1040140ezIrs 1040ez FormTax Filing Sites Federal California State Tax ReturnsTaxact 2011 Login Tax ReturnFile 2009 Taxes For FreeFederal Tax Form 1040Turbotax Free MilitaryWhere Can I Get My State Taxes Done For Free1041xWww Myfreetaxes Com McrsvpHow To File Back Taxes1040ez State Tax FormHow To Efile 2011 TaxesIrs File Taxes Online

What Forms Do I Need To File An Amended Tax Return

What forms do i need to file an amended tax return 2. What forms do i need to file an amended tax return   Accounting Methods Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Accounting MethodsCash Method Accrual Method Farm Inventory Cash Versus Accrual Method Special Methods of Accounting Combination Method Changes in Methods of Accounting Introduction You must use an accounting method that clearly shows your income and expenses. What forms do i need to file an amended tax return You must also figure your taxable income and file an income tax return for an annual accounting period called a tax year. What forms do i need to file an amended tax return This chapter discusses accounting methods. What forms do i need to file an amended tax return For information on accounting periods, see Publication 538, Accounting Periods and Methods, and the Instructions for Form 1128, Application To Adopt, Change, or Retain a Tax Year. What forms do i need to file an amended tax return Topics - This chapter discusses: Cash method Accrual method Farm inventory Special methods of accounting Changes in methods of accounting Useful Items - You may want to see: Publication 538 Accounting Periods and Methods 535 Business Expenses Form (and Instructions) 1128 Application To Adopt, Change, or Retain a Tax Year 3115 Application for Change in Accounting Method See chapter 16 for information about getting publications and forms. What forms do i need to file an amended tax return Accounting Methods An accounting method is a set of rules used to determine when and how your income and expenses are reported on your tax return. What forms do i need to file an amended tax return Your accounting method includes not only your overall method of accounting, but also the accounting treatment you use for any material item. What forms do i need to file an amended tax return A material item is one that affects the proper time for inclusion of income or allowance of a deduction. What forms do i need to file an amended tax return An item considered material for financial statement purposes is generally also considered material for income tax purposes. What forms do i need to file an amended tax return See Publication 538 for more information. What forms do i need to file an amended tax return You generally choose an accounting method for your farm business when you file your first income tax return that includes a Schedule F (Form 1040), Profit or Loss From Farming. What forms do i need to file an amended tax return If you later want to change your accounting method, you generally must get IRS approval. What forms do i need to file an amended tax return How to obtain IRS approval is discussed later under Changes in Methods of Accounting . What forms do i need to file an amended tax return Types of accounting methods. What forms do i need to file an amended tax return   Generally, you can use any of the following accounting methods. What forms do i need to file an amended tax return Each method is discussed in detail below. What forms do i need to file an amended tax return Cash method. What forms do i need to file an amended tax return Accrual method. What forms do i need to file an amended tax return Special methods of accounting for certain items of income and expenses. What forms do i need to file an amended tax return Combination (hybrid) method using elements of two or more of the above. What forms do i need to file an amended tax return Business and other items. What forms do i need to file an amended tax return   You can account for business and personal items using different accounting methods. What forms do i need to file an amended tax return For example, you can figure your business income under an accrual method, even if you use the cash method to figure personal items. What forms do i need to file an amended tax return Two or more businesses. What forms do i need to file an amended tax return   If you operate two or more separate and distinct businesses, you can use a different accounting method for each business. What forms do i need to file an amended tax return Generally, no business is separate and distinct unless a complete and separate set of books and records is maintained for each business. What forms do i need to file an amended tax return Cash Method Most farmers use the cash method because they find it easier to keep records using the cash method. What forms do i need to file an amended tax return However, certain farm corporations and partnerships and all tax shelters must use an accrual method of accounting. What forms do i need to file an amended tax return See Accrual Method Required , later. What forms do i need to file an amended tax return Income Under the cash method, include in your gross income all items of income you actually or constructively received during the tax year. What forms do i need to file an amended tax return Items of income include money received as well as property or services received. What forms do i need to file an amended tax return If you receive property or services, you must include the fair market value (FMV) of the property or services in income. What forms do i need to file an amended tax return See chapter 3 for information on how to report farm income on your income tax return. What forms do i need to file an amended tax return Constructive receipt. What forms do i need to file an amended tax return   Income is constructively received when an amount is credited to your account or made available to you without restriction. What forms do i need to file an amended tax return You do not need to have possession of the income for it to be treated as income for the tax year. What forms do i need to file an amended tax return If you authorize someone to be your agent and receive income for you, you are considered to have received the income when your agent receives it. What forms do i need to file an amended tax return Income is not constructively received if your receipt of the income is subject to substantial restrictions or limitations. What forms do i need to file an amended tax return Direct payments and counter-cyclical payments. What forms do i need to file an amended tax return   If you received direct payments or counter-cyclical payments under Subtitle A or C of the Farm Security and Rural Investment Act of 2002, you will not be considered to have constructively received a payment merely because you had the option to receive it in the year before it is required to be paid. What forms do i need to file an amended tax return Delaying receipt of income. What forms do i need to file an amended tax return   You cannot hold checks or postpone taking possession of similar property from one tax year to another to avoid paying tax on the income. What forms do i need to file an amended tax return You must report the income in the year the money or property is received or made available to you without restriction. What forms do i need to file an amended tax return Example. What forms do i need to file an amended tax return Frances Jones, a farmer, was entitled to receive a $10,000 payment on a grain contract in December 2013. What forms do i need to file an amended tax return She was told in December that her payment was available. What forms do i need to file an amended tax return She requested not to be paid until January 2014. What forms do i need to file an amended tax return However, she must still include this payment in her 2013 income because it was made available to her in 2013. What forms do i need to file an amended tax return Debts paid by another person or canceled. What forms do i need to file an amended tax return   If your debts are paid by another person or are canceled by your creditors, you may have to report part or all of this debt relief as income. What forms do i need to file an amended tax return If you receive income in this way, you constructively receive the income when the debt is canceled or paid. What forms do i need to file an amended tax return See Cancellation of Debt in chapter 3. What forms do i need to file an amended tax return Deferred payment contract. What forms do i need to file an amended tax return   If you sell an item under a deferred payment contract that calls for payment in a future year, there is no constructive receipt in the year of sale. What forms do i need to file an amended tax return However, if the sales contract states that you have the right to the proceeds of the sale from the buyer at any time after delivery of the item, then you must include the sales price in income in the year of the sale, regardless of when you actually receive payment. What forms do i need to file an amended tax return Example. What forms do i need to file an amended tax return You are a farmer who uses the cash method and a calendar tax year. What forms do i need to file an amended tax return You sell grain in December 2013 under a bona fide arm's-length contract that calls for payment in 2014. What forms do i need to file an amended tax return You include the proceeds from the sale in your 2014 gross income since that is the year payment is received. What forms do i need to file an amended tax return However, if the contract states that you have the right to the proceeds from the buyer at any time after the grain is delivered, you must include the sales price in your 2013 income, regardless of when you actually receive payment. What forms do i need to file an amended tax return Repayment of income. What forms do i need to file an amended tax return   If you include an amount in income and in a later year you have to repay all or part of it, then you can usually deduct the repayment in the year repaid. What forms do i need to file an amended tax return If the repayment is more than $3,000, a special rule applies. What forms do i need to file an amended tax return For details, see Repayments in chapter 11 of Publication 535, Business Expenses. What forms do i need to file an amended tax return Expenses Under the cash method, generally you deduct expenses in the tax year you pay them. What forms do i need to file an amended tax return This includes business expenses for which you contest liability. What forms do i need to file an amended tax return However, you may not be able to deduct an expense paid in advance or you may be required to capitalize certain costs, as explained under Uniform Capitalization Rules in chapter 6. What forms do i need to file an amended tax return See chapter 4 for information on how to deduct farm business expenses on your income tax return. What forms do i need to file an amended tax return Prepayment. What forms do i need to file an amended tax return   Generally, you cannot deduct expenses paid in advance. What forms do i need to file an amended tax return This rule applies to any expense paid far enough in advance to, in effect, create an asset with a useful life extending substantially beyond the end of the current tax year. What forms do i need to file an amended tax return Example. What forms do i need to file an amended tax return On November 1, 2013, you signed and paid $3,600 for a 3-year (36-month) insurance contract for equipment. What forms do i need to file an amended tax return In 2013, you are allowed to deduct only $200 (2/36 x $3,600) of the cost of the policy that is attributable to 2013. What forms do i need to file an amended tax return In 2014, you'll be able to deduct $1,200 (12/36 x $3,600); in 2015, you'll be able to deduct $1,200 (12/36 x $3,600); and in 2016 you'll be able to deduct the remaining balance of $1,000. What forms do i need to file an amended tax return An exception applies if the expense qualifies for the 12-month rule. What forms do i need to file an amended tax return See Publication 538 for more information and examples. What forms do i need to file an amended tax return See chapter 4 for special rules for prepaid farm supplies and prepaid livestock feed. What forms do i need to file an amended tax return Accrual Method Under an accrual method of accounting, you generally report income in the year earned and deduct or capitalize expenses in the year incurred. What forms do i need to file an amended tax return The purpose of an accrual method of accounting is to correctly match income and expenses. What forms do i need to file an amended tax return Certain businesses engaged in farming must use an accrual method of accounting for its farm business and for sales and purchases of inventory items. What forms do i need to file an amended tax return See Accrual Method Required and Farm Inventory , later. What forms do i need to file an amended tax return Income Generally, you include an amount in income for the tax year in which all events that fix your right to receive the income have occurred, and you can determine the amount with reasonable accuracy. What forms do i need to file an amended tax return Under this rule, include an amount in income on the earliest of the following dates. What forms do i need to file an amended tax return When you receive payment. What forms do i need to file an amended tax return When the income amount is due to you. What forms do i need to file an amended tax return When you earn the income. What forms do i need to file an amended tax return When title passes. What forms do i need to file an amended tax return If you use an accrual method of accounting, complete Part III of Schedule F (Form 1040) to report your income. What forms do i need to file an amended tax return Inventory. What forms do i need to file an amended tax return   If you keep an inventory, generally you must use an accrual method of accounting to determine your gross income. What forms do i need to file an amended tax return An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor. What forms do i need to file an amended tax return See Publication 538 for more information. What forms do i need to file an amended tax return Also see Farm Inventory , later, for more information on items that must be included in inventory by farmers and inventory valuation methods for farmers. What forms do i need to file an amended tax return Expenses Under an accrual method of accounting, you generally deduct or capitalize a business expense when both of the following apply. What forms do i need to file an amended tax return The all-events test has been met. What forms do i need to file an amended tax return This test is met when: All events have occurred that fix the fact that you have a liability, and The amount of the liability can be determined with reasonable accuracy. What forms do i need to file an amended tax return Economic performance has occurred. What forms do i need to file an amended tax return Economic performance. What forms do i need to file an amended tax return   Generally, you cannot deduct or capitalize a business expense until economic performance occurs. What forms do i need to file an amended tax return If your expense is for property or services provided to you, or for your use of property, economic performance occurs as the property or services are provided or as the property is used. What forms do i need to file an amended tax return If your expense is for property or services you provide to others, economic performance occurs as you provide the property or services. What forms do i need to file an amended tax return Example. What forms do i need to file an amended tax return Jane, who is a farmer, uses a calendar tax year and an accrual method of accounting. What forms do i need to file an amended tax return She entered into a contract with ABC Farm Consulting in 2012. What forms do i need to file an amended tax return The contract stated that Jane pay ABC Farm Consulting $2,000 in December 2012. What forms do i need to file an amended tax return It further stipulates that ABC Farm Consulting will develop a plan for integrating her farm with a larger farm operation based in a neighboring state by March 1, 2013. What forms do i need to file an amended tax return Jane paid ABC Farm Consulting $2,000 in December 2012. What forms do i need to file an amended tax return Integration of operations according to the plan began in May 2013 and they completed the integration in December 2013. What forms do i need to file an amended tax return Economic performance for Jane's liability in the contract occurs as the services are provided. What forms do i need to file an amended tax return Jane incurs the $2,000 cost in 2013. What forms do i need to file an amended tax return An exception to the economic performance rule allows certain recurring items to be treated as incurred during a tax year even though economic performance has not occurred. What forms do i need to file an amended tax return For more information, see Economic Performance in Publication 538. What forms do i need to file an amended tax return Special rule for related persons. What forms do i need to file an amended tax return   Business expenses and interest owed to a related person who uses the cash method of accounting are not deductible until you make the payment and the corresponding amount is includible in the related person's gross income. What forms do i need to file an amended tax return Determine the relationship for this rule as of the end of the tax year for which the expense or interest would otherwise be deductible. What forms do i need to file an amended tax return For more information, see Internal Revenue Code section 267. What forms do i need to file an amended tax return Accrual Method Required Generally, the following businesses, if engaged in farming, must use an accrual method of accounting. What forms do i need to file an amended tax return A corporation (other than a family corporation) that had gross receipts of more than $1,000,000 for any tax year beginning after 1975. What forms do i need to file an amended tax return A family corporation that had gross receipts of more than $25,000,000 for any tax year beginning after 1985. What forms do i need to file an amended tax return A partnership with a corporation as a partner, if that corporation meets the requirements of (1) or (2) above. What forms do i need to file an amended tax return A tax shelter. What forms do i need to file an amended tax return Note. What forms do i need to file an amended tax return Items (1), (2), and (3) above do not apply to an S corporation or a business operating a nursery or sod farm, or the raising or harvesting of trees (other than fruit and nut trees). What forms do i need to file an amended tax return Family corporation. What forms do i need to file an amended tax return   A family corporation is generally a corporation that meets one of the following ownership requirements. What forms do i need to file an amended tax return Members of the same family own at least 50% of the total combined voting power of all classes of stock entitled to vote and at least 50% of the total shares of all other classes of stock of the corporation. What forms do i need to file an amended tax return Members of two families have owned, directly or indirectly, since October 4, 1976, at least 65% of the total combined voting power of all classes of voting stock and at least 65% of the total shares of all other classes of the corporation's stock. What forms do i need to file an amended tax return Members of three families have owned, directly or indirectly, since October 4, 1976, at least 50% of the total combined voting power of all classes of voting stock and at least 50% of the total shares of all other classes of the corporation's stock. What forms do i need to file an amended tax return For more information on family corporations, see Internal Revenue Code section 447. What forms do i need to file an amended tax return Tax shelter. What forms do i need to file an amended tax return   A tax shelter is a partnership, noncorporate enterprise, or S corporation that meets either of the following tests. What forms do i need to file an amended tax return Its principal purpose is the avoidance or evasion of federal income tax. What forms do i need to file an amended tax return It is a farming syndicate. What forms do i need to file an amended tax return A farming syndicate is an entity that meets either of the following tests. What forms do i need to file an amended tax return Interests in the activity have been offered for sale in an offering required to be registered with a federal or state agency with the authority to regulate the offering of securities for sale. What forms do i need to file an amended tax return More than 35% of the losses during the tax year are allocable to limited partners or limited entrepreneurs. What forms do i need to file an amended tax return   A “limited partner” is one whose personal liability for partnership debts is limited to the money or other property the partner contributed or is required to contribute to the partnership. What forms do i need to file an amended tax return   A “limited entrepreneur” is one who has an interest in an enterprise other than as a limited partner and does not actively participate in the management of the enterprise. What forms do i need to file an amended tax return Farm Inventory If you are required to keep an inventory, you should keep a complete record of your inventory as part of your farm records. What forms do i need to file an amended tax return This record should show the actual count or measurement of the inventory. What forms do i need to file an amended tax return It should also show all factors that enter into its valuation, including quality and weight, if applicable. What forms do i need to file an amended tax return Hatchery business. What forms do i need to file an amended tax return   If you are in the hatchery business, and use an accrual method of accounting, you must include in inventory eggs in the process of incubation. What forms do i need to file an amended tax return Products held for sale. What forms do i need to file an amended tax return   All harvested and purchased farm products held for sale or for feed or seed, such as grain, hay, silage, concentrates, cotton, tobacco, etc. What forms do i need to file an amended tax return , must be included in inventory. What forms do i need to file an amended tax return Supplies. What forms do i need to file an amended tax return   Supplies acquired for sale or that become a physical part of items held for sale must be included in inventory. What forms do i need to file an amended tax return Deduct the cost of supplies in the year used or consumed in operations. What forms do i need to file an amended tax return Do not include incidental supplies in inventory as these are deductible in the year of purchase. What forms do i need to file an amended tax return Livestock. What forms do i need to file an amended tax return   Livestock held primarily for sale must be included in inventory. What forms do i need to file an amended tax return Livestock held for draft, breeding, or dairy purposes can either be depreciated or included in inventory. What forms do i need to file an amended tax return See also Unit-livestock-price method , later. What forms do i need to file an amended tax return If you are in the business of breeding and raising chinchillas, mink, foxes, or other fur-bearing animals, these animals are livestock for inventory purposes. What forms do i need to file an amended tax return Growing crops. What forms do i need to file an amended tax return   Generally, growing crops are not required to be included in inventory. What forms do i need to file an amended tax return However, if the crop has a preproductive period of more than 2 years, you may have to capitalize (or include in inventory) costs associated with the crop. What forms do i need to file an amended tax return See Uniform capitalization rules below. What forms do i need to file an amended tax return Also see Uniform Capitalization Rules in  chapter 6. What forms do i need to file an amended tax return Items to include in inventory. What forms do i need to file an amended tax return   Your inventory should include all items held for sale, or for use as feed, seed, etc. What forms do i need to file an amended tax return , whether raised or purchased, that are unsold at the end of the year. What forms do i need to file an amended tax return Uniform capitalization rules. What forms do i need to file an amended tax return   The following applies if you are required to use an accrual method of accounting. What forms do i need to file an amended tax return The uniform capitalization rules apply to all costs of raising a plant, even if the preproductive period of raising a plant is 2 years or less. What forms do i need to file an amended tax return The costs of animals are subject to the uniform capitalization rules. What forms do i need to file an amended tax return Inventory valuation methods. What forms do i need to file an amended tax return   The following methods, described below, are those generally available for valuing inventory. What forms do i need to file an amended tax return The method you use must conform to generally accepted accounting principles for similar businesses and must clearly reflect income. What forms do i need to file an amended tax return Cost. What forms do i need to file an amended tax return Lower of cost or market. What forms do i need to file an amended tax return Farm-price method. What forms do i need to file an amended tax return Unit-livestock-price method. What forms do i need to file an amended tax return Cost and lower of cost or market methods. What forms do i need to file an amended tax return   See Publication 538 for information on these valuation methods. What forms do i need to file an amended tax return If you value your livestock inventory at cost or the lower of cost or market, you do not need IRS approval to change to the unit-livestock-price method. What forms do i need to file an amended tax return However, if you value your livestock inventory using the farm-price method, then you must obtain permission from the IRS to change to the unit-livestock-price method. What forms do i need to file an amended tax return Farm-price method. What forms do i need to file an amended tax return   Under this method, each item, whether raised or purchased, is valued at its market price less the direct cost of disposition. What forms do i need to file an amended tax return Market price is the current price at the nearest market in the quantities you usually sell. What forms do i need to file an amended tax return Cost of disposition includes broker's commissions, freight, hauling to market, and other marketing costs. What forms do i need to file an amended tax return If you use this method, you must use it for your entire inventory, except that livestock can be inventoried under the unit-livestock-price method. What forms do i need to file an amended tax return Unit-livestock-price method. What forms do i need to file an amended tax return   This method recognizes the difficulty of establishing the exact costs of producing and raising each animal. What forms do i need to file an amended tax return You group or classify livestock according to type and age and use a standard unit price for each animal within a class or group. What forms do i need to file an amended tax return The unit price you assign should reasonably approximate the normal costs incurred in producing the animals in such classes. What forms do i need to file an amended tax return Unit prices and classifications are subject to approval by the IRS on examination of your return. What forms do i need to file an amended tax return You must annually reevaluate your unit livestock prices and adjust the prices upward or downward to reflect increases or decreases in the costs of raising livestock. What forms do i need to file an amended tax return IRS approval is not required for these adjustments. What forms do i need to file an amended tax return Any other changes in unit prices or classifications do require IRS approval. What forms do i need to file an amended tax return   If you use this method, include all raised livestock in inventory, regardless of whether they are held for sale or for draft, breeding, sport, or dairy purposes. What forms do i need to file an amended tax return This method accounts only for the increase in cost of raising an animal to maturity. What forms do i need to file an amended tax return It does not provide for any decrease in the animal's market value after it reaches maturity. What forms do i need to file an amended tax return Also, if you raise cattle, you are not required to inventory hay you grow to feed your herd. What forms do i need to file an amended tax return   Do not include sold or lost animals in the year-end inventory. What forms do i need to file an amended tax return If your records do not show which animals were sold or lost, treat the first animals acquired as sold or lost. What forms do i need to file an amended tax return The animals on hand at the end of the year are considered those most recently acquired. What forms do i need to file an amended tax return   You must include in inventory all livestock purchased primarily for sale. What forms do i need to file an amended tax return You can choose either to include in inventory or depreciate livestock purchased for draft, breeding, sport or dairy purposes. What forms do i need to file an amended tax return However, you must be consistent from year to year, regardless of the method you have chosen. What forms do i need to file an amended tax return You cannot change your method without obtaining approval from the IRS. What forms do i need to file an amended tax return   You must include in inventory animals purchased after maturity or capitalize them at their purchase price. What forms do i need to file an amended tax return If the animals are not mature at purchase, increase the cost at the end of each tax year according to the established unit price. What forms do i need to file an amended tax return However, in the year of purchase, do not increase the cost of any animal purchased during the last 6 months of the year. What forms do i need to file an amended tax return This “no increase” rule does not apply to tax shelters which must make an adjustment for any animal purchased during the year. What forms do i need to file an amended tax return It also does not apply to taxpayers that must make an adjustment to reasonably reflect the particular period in the year in which animals are purchased, if necessary to avoid significant distortions in income. What forms do i need to file an amended tax return Uniform capitalization rules. What forms do i need to file an amended tax return   A farmer can determine costs required to be allocated under the uniform capitalization rules by using the farm-price or unit-livestock-price inventory method. What forms do i need to file an amended tax return This applies to any plant or animal, even if the farmer does not hold or treat the plant or animal as inventory property. What forms do i need to file an amended tax return Cash Versus Accrual Method The following examples compare the cash and accrual methods of accounting. What forms do i need to file an amended tax return Example 1. What forms do i need to file an amended tax return You are a farmer who uses an accrual method of accounting. What forms do i need to file an amended tax return You keep your books on the calendar year basis. What forms do i need to file an amended tax return You sell grain in December 2013 but you are not paid until January 2014. What forms do i need to file an amended tax return Because the accrual method was used and 2013 was the tax year in which the grain was sold, you must both include the sales proceeds and deduct the costs incurred in producing the grain on your 2013 tax return. What forms do i need to file an amended tax return Example 2. What forms do i need to file an amended tax return Assume the same facts as in Example 1 except that you use the cash method and there was no constructive receipt of the sales proceeds in 2013. What forms do i need to file an amended tax return Under this method, you include the sales proceeds in income for 2014, the year you receive payment. What forms do i need to file an amended tax return Deduct the costs of producing the grain in the year you pay for them. What forms do i need to file an amended tax return Special Methods of Accounting There are special methods of accounting for certain items of income and expense. What forms do i need to file an amended tax return Crop method. What forms do i need to file an amended tax return   If you do not harvest and dispose of your crop in the same tax year that you plant it, you can, with IRS approval, use the crop method of accounting. What forms do i need to file an amended tax return You cannot use the crop method for any tax return, including your first tax return, unless you receive approval from the IRS. What forms do i need to file an amended tax return Under this method, you deduct the entire cost of producing the crop, including the expense of seed or young plants, in the year you realize income from the crop. What forms do i need to file an amended tax return    See chapter 4 for details on deducting the costs of operating a farm. What forms do i need to file an amended tax return Also see Regulations section 1. What forms do i need to file an amended tax return 162-12. What forms do i need to file an amended tax return Other special methods. What forms do i need to file an amended tax return   Other special methods of accounting apply to the following items. What forms do i need to file an amended tax return Amortization, see chapter 7. What forms do i need to file an amended tax return Casualties, see chapter 11. What forms do i need to file an amended tax return Condemnations, see chapter 11. What forms do i need to file an amended tax return Depletion, see chapter 7. What forms do i need to file an amended tax return Depreciation, see chapter 7. What forms do i need to file an amended tax return Farm business expenses, see chapter 4. What forms do i need to file an amended tax return Farm income, see chapter 3. What forms do i need to file an amended tax return Installment sales, see chapter 10. What forms do i need to file an amended tax return Soil and water conservation expenses, see chapter 5. What forms do i need to file an amended tax return Thefts, see chapter 11. What forms do i need to file an amended tax return Combination Method Generally, you can use any combination of cash, accrual, and special methods of accounting if the combination clearly shows your income and expenses and you use it consistently. What forms do i need to file an amended tax return However, the following restrictions apply. What forms do i need to file an amended tax return If you use the cash method for figuring your income, you must use the cash method for reporting your expenses. What forms do i need to file an amended tax return If you use an accrual method for reporting your expenses, you must use an accrual method for figuring your income. What forms do i need to file an amended tax return Changes in Methods of Accounting A change in your method of accounting includes a change in: Your overall method, such as from the cash method to an accrual method, and Your treatment of any material item, such as a change in your method of valuing inventory (for example, a change from the farm-price method to the unit-livestock-price method, discussed earlier). What forms do i need to file an amended tax return Generally, once you have set up your accounting method, you must receive approval from the IRS before you can change to another method of accounting. What forms do i need to file an amended tax return You may also have to pay a fee. What forms do i need to file an amended tax return To obtain approval, you must generally file Form 3115. What forms do i need to file an amended tax return There are instances when you can obtain automatic consent to change certain methods of accounting. What forms do i need to file an amended tax return See the List of Automatic Accounting Method Changes located in the Instructions for Form 3115. What forms do i need to file an amended tax return For more information on changes in methods of accounting, see Form 3115 and the Instructions for Form 3115. What forms do i need to file an amended tax return Also see Publication 538. What forms do i need to file an amended tax return Prev  Up  Next   Home   More Online Publications

Topic 303 - Checklist of Common Errors When Preparing Your Tax Return

Before filing your return, review it to make sure it is correct and complete. The following checklist may help you to avoid common errors:

  • Did you consider filing your tax return electronically? By electronically filing your tax return, many common errors may be avoided or corrected by the computer software. Depending on your income, you may even qualify to e-file for free by using Free File tax software. For more information, visit the IRS website at www.irs.gov and click on the e-file logo on our home page.
  • Did you clearly print your name, social security number, and address, including ZIP code directly on your return? Note that if you are married but filing a separate return, do not include your spouse's name in the name, address and social security number fields on the return.
  • Did you enter the names and social security numbers for yourself, your spouse (if filing jointly), your dependents, and qualifying children for the earned income credit or child tax credit, exactly as those names and numbers appear on each person's social security card? If there have been any name changes be sure to contact the Social Security Administration at www.ssa.gov or call at 800-772-1213.
  • Did you check only one filing status?
  • Did you check the appropriate exemption boxes and enter the names and social security numbers exactly as those names and numbers appear on each person's social security card, for all dependents you claimed? Is the total number of exemptions entered?
  • Did you enter income, deductions, and credits on the correct lines and are the totals correct?
  • If you show a negative amount on your return, did you put brackets around it?
  • If you are taking the standard deduction and checked any box indicating either you or your spouse were age 65 or older or blind, did you find the correct standard deduction using the chart in the Form 1040 Instructions (PDF) or the Form 1040A Instructions (PDF)?
  • Did you figure the tax correctly? If you used the tax tables, did you use the correct column for your filing status?
  • Did you sign and date the return? If it is a joint return, did your spouse also sign and date the return?
  • Do you have a Form W-2 (PDF) from each of your employers and did you attach Copy B of each Form W-2 to your return? If you have more than one job, combine the wages and withholdings from all Form W-2s you receive and report those amounts on one return.
  • Did you attach each Form 1099-R (PDF) that shows federal tax was withheld?
  • Did you attach all other necessary schedules and forms in sequence number order as shown in the upper right-hand corner?
  • Did you use the correct mailing address from your tax form instructions?
  • Did you use a postage stamp on the envelope?
  • If you owe tax, did you enclose a check or money order made payable to the "United States Treasury" with the return and include your name, address, social security number, daytime telephone number, tax form, and tax year on the payment? For additional information, refer to Topic 158.
  • If you are due a refund and requested direct deposit, did you check your financial institution's routing and account numbers?
  • Did you make a copy of the signed return and all schedules for your records?

A few of the most common errors are:

  1. Incorrect or missing social security numbers.
  2. Incorrect tax entered based on taxable income and filing status.
  3. Computation errors in figuring the taxable income, withholding and estimated tax payments, earned income credit, standard deduction for age 65 or over or blind, the taxable amount of social security benefits, and child and dependent care credit. Also, missing or incorrect identification numbers for child care providers.
  4. Withholding and estimated tax payments entered on the wrong line.
  5. Math errors, both addition and subtraction.

It is important that you review your entire return because any errors may delay the processing of your return.

Page Last Reviewed or Updated: January 22, 2014

The What Forms Do I Need To File An Amended Tax Return

What forms do i need to file an amended tax return 3. What forms do i need to file an amended tax return   Savings Incentive Match Plans for Employees (SIMPLE) Table of Contents Introduction What Is a SIMPLE Plan?Eligible Employees How Are Contributions Made? How Much Can Be Contributed on Your Behalf?Matching contributions less than 3%. What forms do i need to file an amended tax return Traditional IRA mistakenly moved to SIMPLE IRA. What forms do i need to file an amended tax return When Can You Withdraw or Use Assets?Are Distributions Taxable? Introduction This chapter is for employees who need information about savings incentive match plans for employees (SIMPLE plans). What forms do i need to file an amended tax return It explains what a SIMPLE plan is, contributions to a SIMPLE plan, and distributions from a SIMPLE plan. What forms do i need to file an amended tax return Under a SIMPLE plan, SIMPLE retirement accounts for participating employees can be set up either as: Part of a 401(k) plan, or A plan using IRAs (SIMPLE IRA). What forms do i need to file an amended tax return This chapter only discusses the SIMPLE plan rules that relate to SIMPLE IRAs. What forms do i need to file an amended tax return See chapter 3 of Publication 560 for information on any special rules for SIMPLE plans that do not use IRAs. What forms do i need to file an amended tax return If your employer maintains a SIMPLE plan, you must be notified, in writing, that you can choose the financial institution that will serve as trustee for your SIMPLE IRA and that you can roll over or transfer your SIMPLE IRA to another financial institution. What forms do i need to file an amended tax return See Rollovers and Transfers Exception, later under When Can You Withdraw or Use Assets. What forms do i need to file an amended tax return What Is a SIMPLE Plan? A SIMPLE plan is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. What forms do i need to file an amended tax return See chapter 3 of Publication 560 for information on the requirements employers must satisfy to set up a SIMPLE plan. What forms do i need to file an amended tax return A SIMPLE plan is a written agreement (salary reduction agreement) between you and your employer that allows you, if you are an eligible employee (including a self-employed individual), to choose to: Reduce your compensation (salary) by a certain percentage each pay period, and Have your employer contribute the salary reductions to a SIMPLE IRA on your behalf. What forms do i need to file an amended tax return These contributions are called salary reduction contributions. What forms do i need to file an amended tax return All contributions under a SIMPLE IRA plan must be made to SIMPLE IRAs, not to any other type of IRA. What forms do i need to file an amended tax return The SIMPLE IRA can be an individual retirement account or an individual retirement annuity, described in chapter 1. What forms do i need to file an amended tax return Contributions are made on behalf of eligible employees. What forms do i need to file an amended tax return (See Eligible Employees below. What forms do i need to file an amended tax return ) Contributions are also subject to various limits. What forms do i need to file an amended tax return (See How Much Can Be Contributed on Your Behalf , later. What forms do i need to file an amended tax return ) In addition to salary reduction contributions, your employer must make either matching contributions or nonelective contributions. What forms do i need to file an amended tax return See How Are Contributions Made , later. What forms do i need to file an amended tax return You may be able to claim a credit for contributions to your SIMPLE plan. What forms do i need to file an amended tax return For more information, see chapter 4. What forms do i need to file an amended tax return Eligible Employees You must be allowed to participate in your employer's SIMPLE plan if you: Received at least $5,000 in compensation from your employer during any 2 years prior to the current year, and Are reasonably expected to receive at least $5,000 in compensation during the calendar year for which contributions are made. What forms do i need to file an amended tax return Self-employed individual. What forms do i need to file an amended tax return   For SIMPLE plan purposes, the term employee includes a self-employed individual who received earned income. What forms do i need to file an amended tax return Excludable employees. What forms do i need to file an amended tax return   Your employer can exclude the following employees from participating in the SIMPLE plan. What forms do i need to file an amended tax return Employees whose retirement benefits are covered by a collective bargaining agreement (union contract). What forms do i need to file an amended tax return Employees who are nonresident aliens and received no earned income from sources within the United States. What forms do i need to file an amended tax return Employees who would not have been eligible employees if an acquisition, disposition, or similar transaction had not occurred during the year. What forms do i need to file an amended tax return Compensation. What forms do i need to file an amended tax return   For purposes of the SIMPLE plan rules, your compensation for a year generally includes the following amounts. What forms do i need to file an amended tax return Wages, tips, and other pay from your employer that is subject to income tax withholding. What forms do i need to file an amended tax return Deferred amounts elected under any 401(k) plans, 403(b) plans, government (section 457) plans, SEP plans, and SIMPLE plans. What forms do i need to file an amended tax return Self-employed individual compensation. What forms do i need to file an amended tax return   For purposes of the SIMPLE plan rules, if you are self-employed, your compensation for a year is your net earnings from self-employment (Schedule SE (Form 1040), Section A, line 4, or Section B, line 6) before subtracting any contributions made to a SIMPLE IRA on your behalf. What forms do i need to file an amended tax return   For these purposes, net earnings from self-employment include services performed while claiming exemption from self-employment tax as a member of a group conscientiously opposed to social security benefits. What forms do i need to file an amended tax return How Are Contributions Made? Contributions under a salary reduction agreement are called salary reduction contributions. What forms do i need to file an amended tax return They are made on your behalf by your employer. What forms do i need to file an amended tax return Your employer must also make either matching contributions or nonelective contributions. What forms do i need to file an amended tax return Salary reduction contributions. What forms do i need to file an amended tax return   During the 60-day period before the beginning of any year, and during the 60-day period before you are eligible, you can choose salary reduction contributions expressed either as a percentage of compensation, or as a specific dollar amount (if your employer offers this choice). What forms do i need to file an amended tax return You can choose to cancel the election at any time during the year. What forms do i need to file an amended tax return   Salary reduction contributions are also referred to as “elective deferrals. What forms do i need to file an amended tax return ”   Your employer cannot place restrictions on the contributions amount (such as by limiting the contributions percentage), except to comply with the salary reduction contributions limit, discussed under How Much Can Be Contributed on Your Behalf, later. What forms do i need to file an amended tax return Matching contributions. What forms do i need to file an amended tax return   Unless your employer chooses to make nonelective contributions, your employer must make contributions equal to the salary reduction contributions you choose (elect), but only up to certain limits. What forms do i need to file an amended tax return See How Much Can Be Contributed on Your Behalf below. What forms do i need to file an amended tax return These contributions are in addition to the salary reduction contributions and must be made to the SIMPLE IRAs of all eligible employees (defined earlier) who chose salary reductions. What forms do i need to file an amended tax return These contributions are referred to as matching contributions. What forms do i need to file an amended tax return   Matching contributions on behalf of a self-employed individual are not treated as salary reduction contributions. What forms do i need to file an amended tax return Nonelective contributions. What forms do i need to file an amended tax return   Instead of making matching contributions, your employer may be able to choose to make nonelective contributions on behalf of all eligible employees. What forms do i need to file an amended tax return These nonelective contributions must be made on behalf of each eligible employee who has at least $5,000 of compensation from your employer, whether or not the employee chose salary reductions. What forms do i need to file an amended tax return   One of the requirements your employer must satisfy is notifying the employees that the election was made. What forms do i need to file an amended tax return For other requirements that your employer must satisfy, see chapter 3 of Publication 560. What forms do i need to file an amended tax return How Much Can Be Contributed on Your Behalf? The limits on contributions to a SIMPLE IRA vary with the type of contribution that is made. What forms do i need to file an amended tax return Salary reduction contributions limit. What forms do i need to file an amended tax return   Salary reduction contributions (employee-chosen contributions or elective deferrals) that your employer can make on your behalf under a SIMPLE plan are limited to $12,000 for 2013. What forms do i need to file an amended tax return The limitation remains at $12,000 for 2014. What forms do i need to file an amended tax return If you are a participant in any other employer plans during 2013 and you have elective salary reductions or deferred compensation under those plans, the salary reduction contributions under the SIMPLE plan also are included in the annual limit of $17,500 for 2013 on exclusions of salary reductions and other elective deferrals. What forms do i need to file an amended tax return You, not your employer, are responsible for monitoring compliance with these limits. What forms do i need to file an amended tax return Additional elective deferrals can be contributed to your SIMPLE plan if: You reached age 50 by the end of 2013, and No other elective deferrals can be made for you to the plan for the year because of limits or restrictions, such as the regular annual limit. What forms do i need to file an amended tax return The most that can be contributed in additional elective deferrals to your SIMPLE plan is the lesser of the following two amounts. What forms do i need to file an amended tax return $2,500 for 2013, or Your compensation for the year reduced by your other elective deferrals for the year. What forms do i need to file an amended tax return The additional deferrals are not subject to any other contribution limit and are not taken into account in applying other contribution limits. What forms do i need to file an amended tax return The additional deferrals are not subject to the nondiscrimination rules as long as all eligible participants are allowed to make them. What forms do i need to file an amended tax return Matching employer contributions limit. What forms do i need to file an amended tax return   Generally, your employer must make matching contributions to your SIMPLE IRA in an amount equal to your salary reduction contributions. What forms do i need to file an amended tax return These matching contributions cannot be more than 3% of your compensation for the calendar year. What forms do i need to file an amended tax return See Matching contributions less than 3% below. What forms do i need to file an amended tax return Example 1. What forms do i need to file an amended tax return In 2013, Joshua was a participant in his employer's SIMPLE plan. What forms do i need to file an amended tax return His compensation, before SIMPLE plan contributions, was $41,600 ($800 per week). What forms do i need to file an amended tax return Instead of taking it all in cash, Joshua elected to have 12. What forms do i need to file an amended tax return 5% of his weekly pay ($100) contributed to his SIMPLE IRA. What forms do i need to file an amended tax return For the full year, Joshua's salary reduction contributions were $5,200, which is less than the $12,000 limit on these contributions. What forms do i need to file an amended tax return Under the plan, Joshua's employer was required to make matching contributions to Joshua's SIMPLE IRA. What forms do i need to file an amended tax return Because his employer's matching contributions must equal Joshua's salary reductions, but cannot be more than 3% of his compensation (before salary reductions) for the year, his employer's matching contribution was limited to $1,248 (3% of $41,600). What forms do i need to file an amended tax return Example 2. What forms do i need to file an amended tax return Assume the same facts as in Example 1 , except that Joshua's compensation for the year was $408,163 and he chose to have 2. What forms do i need to file an amended tax return 94% of his weekly pay contributed to his SIMPLE IRA. What forms do i need to file an amended tax return In this example, Joshua's salary reduction contributions for the year (2. What forms do i need to file an amended tax return 94% × $408,163) were equal to the 2013 limit for salary reduction contributions ($12,000). What forms do i need to file an amended tax return Because 3% of Joshua's compensation ($12,245) is more than the amount his employer was required to match ($12,000), his employer's matching contributions were limited to $12,000. What forms do i need to file an amended tax return In this example, total contributions made on Joshua's behalf for the year were $24,000 ($12,000 (Joshua's contributions) + $12,000 (matching contributions)), the maximum contributions permitted under a SIMPLE IRA for 2013. What forms do i need to file an amended tax return Matching contributions less than 3%. What forms do i need to file an amended tax return   Your employer can reduce the 3% limit on matching contributions for a calendar year, but only if: The limit is not reduced below 1%, The limit is not reduced for more than 2 years out of the 5-year period that ends with (and includes) the year for which the election is effective, and Employees are notified of the reduced limit within a reasonable period of time before the 60-day election period during which they can enter into salary reduction agreements. What forms do i need to file an amended tax return   For purposes of applying the rule in item (2) in determining whether the limit was reduced below 3% for the year, any year before the first year in which your employer (or a former employer) maintains a SIMPLE IRA plan will be treated as a year for which the limit was 3%. What forms do i need to file an amended tax return If your employer chooses to make nonelective contributions for a year, that year also will be treated as a year for which the limit was 3%. What forms do i need to file an amended tax return Nonelective employer contributions limit. What forms do i need to file an amended tax return   If your employer chooses to make nonelective contributions, instead of matching contributions, to each eligible employee's SIMPLE IRA, contributions must be 2% of your compensation for the entire year. What forms do i need to file an amended tax return For 2013, only $255,000 of your compensation can be taken into account to figure the contribution limit. What forms do i need to file an amended tax return   Your employer can substitute the 2% nonelective contribution for the matching contribution for a year if both of the following requirements are met. What forms do i need to file an amended tax return Eligible employees are notified that a 2% nonelective contribution will be made instead of a matching contribution. What forms do i need to file an amended tax return This notice is provided within a reasonable period during which employees can enter into salary reduction agreements. What forms do i need to file an amended tax return Example 3. What forms do i need to file an amended tax return Assume the same facts as in Example 2 , except that Joshua's employer chose to make nonelective contributions instead of matching contributions. What forms do i need to file an amended tax return Because his employer's nonelective contributions are limited to 2% of up to $255,000 of Joshua's compensation, his employer's contribution to Joshua's SIMPLE IRA was limited to $5,100. What forms do i need to file an amended tax return In this example, total contributions made on Joshua's behalf for the year were $17,100 (Joshua's salary reductions of $12,000 plus his employer's contribution of $5,100). What forms do i need to file an amended tax return Traditional IRA mistakenly moved to SIMPLE IRA. What forms do i need to file an amended tax return   If you mistakenly roll over or transfer an amount from a traditional IRA to a SIMPLE IRA, you can later recharacterize the amount as a contribution to another traditional IRA. What forms do i need to file an amended tax return For more information, see Recharacterizations in chapter 1. What forms do i need to file an amended tax return Recharacterizing employer contributions. What forms do i need to file an amended tax return   You cannot recharacterize employer contributions (including elective deferrals) under a SEP or SIMPLE plan as contributions to another IRA. What forms do i need to file an amended tax return SEPs are discussed in chapter 2 of Publication 560. What forms do i need to file an amended tax return SIMPLE plans are discussed in this chapter. What forms do i need to file an amended tax return Converting from a SIMPLE IRA. What forms do i need to file an amended tax return   Generally, you can convert an amount in your SIMPLE IRA to a Roth IRA under the same rules explained in chapter 1 under Converting From Any Traditional IRA Into a Roth IRA . What forms do i need to file an amended tax return    However, you cannot convert any amount distributed from the SIMPLE IRA during the 2-year period beginning on the date you first participated in any SIMPLE IRA plan maintained by your employer. What forms do i need to file an amended tax return When Can You Withdraw or Use Assets? Generally, the same distribution (withdrawal) rules that apply to traditional IRAs apply to SIMPLE IRAs. What forms do i need to file an amended tax return These rules are discussed in chapter 1. What forms do i need to file an amended tax return Your employer cannot restrict you from taking distributions from a SIMPLE IRA. What forms do i need to file an amended tax return Are Distributions Taxable? Generally, distributions from a SIMPLE IRA are fully taxable as ordinary income. What forms do i need to file an amended tax return If the distribution is an early distribution (discussed in chapter 1), it may be subject to the additional tax on early distributions. What forms do i need to file an amended tax return See Additional Tax on Early Distributions, later. What forms do i need to file an amended tax return Rollovers and Transfers Exception Generally, rollovers and trustee-to-trustee transfers are not taxable distributions. What forms do i need to file an amended tax return Two-year rule. What forms do i need to file an amended tax return   To qualify as a tax-free rollover (or a tax-free trustee-to-trustee transfer), a rollover distribution (or a transfer) made from a SIMPLE IRA during the 2-year period beginning on the date on which you first participated in your employer's SIMPLE plan must be contributed (or transferred) to another SIMPLE IRA. What forms do i need to file an amended tax return The 2-year period begins on the first day on which contributions made by your employer are deposited in your SIMPLE IRA. What forms do i need to file an amended tax return   After the 2-year period, amounts in a SIMPLE IRA can be rolled over or transferred tax free to an IRA other than a SIMPLE IRA, or to a qualified plan, a tax-sheltered annuity plan (section 403(b) plan), or deferred compensation plan of a state or local government (section 457 plan). What forms do i need to file an amended tax return Additional Tax on Early Distributions The additional tax on early distributions (discussed in chapter 1) applies to SIMPLE IRAs. What forms do i need to file an amended tax return If a distribution is an early distribution and occurs during the 2-year period following the date on which you first participated in your employer's SIMPLE plan, the additional tax on early distributions is increased from 10% to 25%. What forms do i need to file an amended tax return If a rollover distribution (or transfer) from a SIMPLE IRA does not satisfy the 2-year rule, and is otherwise an early distribution, the additional tax imposed because of the early distribution is increased from 10% to 25% of the amount distributed. What forms do i need to file an amended tax return Prev  Up  Next   Home   More Online Publications