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

When Is The Last Day To File Taxes 2012

Amend 2011 Tax Return OnlineWww Irs Gov E File2010 Taxes1040 Tax Form 2011File A Amended Tax Return OnlineForm 1040nr-ezH&r Block Free Tax SoftwareFiling State Tax Free2011 Tax Return FormDoes A Full Time Student Have To File TaxesFile Free State ReturnFiling State Returns1040ez Instruction Book1040 Tax Forms PrintableFile 2012 Taxes ElectronicallyTax Act 2012 Login Return User2012 Amended ReturnTaxact 2010 Free2011 10402011 Form 1040Can I File My 2011 TaxesTax Form 1040ezHow To File A Amended Tax ReturnFiling An Amended Tax ReturnCan You File Back Taxes TurbotaxIrs E File 2011Taxslayer Com LoginH R Block 2011Free State FilingFree Tax Filing Online State And FederalPast Year TaxDo I File Taxes Past YearsForm 1040 Ez 2013 InstructionsFile 2007 Taxes OnlineHow To Do Tax AmendmentE File A 1040xHow To Amend TaxesH&r Block Free Tax For MilitaryTurbotax FreeHow To Fill Out A 1040x Instructions

When Is The Last Day To File Taxes 2012

When is the last day to file taxes 2012 Publication 515 - Main Content Table of Contents Withholding of TaxWithholding Agent Withholding and Reporting Obligations Persons Subject to NRA WithholdingIdentifying the Payee Foreign Persons DocumentationBeneficial Owners Foreign Intermediaries and Foreign Flow-Through Entities Standards of Knowledge Presumption Rules Income Subject to NRA WithholdingSource of Income Fixed or Determinable Annual or Periodical Income (FDAP) Withholding on Specific IncomeEffectively Connected Income Income Not Effectively Connected Pay for Personal Services Performed Artists and Athletes (Income Codes 42 and 43) Other Income Foreign Governments and Certain Other Foreign Organizations U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Taxpayer Identification NumbersUnexpected payment. When is the last day to file taxes 2012 Depositing Withheld TaxesWhen Deposits Are Required Adjustment for Overwithholding Returns RequiredJoint owners. When is the last day to file taxes 2012 Electronic reporting. When is the last day to file taxes 2012 Partnership Withholding on Effectively Connected IncomeWho Must Withhold Foreign Partner Publicly Traded Partnerships U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Real Property InterestForeign corporations. When is the last day to file taxes 2012 Domestic corporations. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 real property holding corporations. When is the last day to file taxes 2012 Partnerships. When is the last day to file taxes 2012 Trusts and estates. When is the last day to file taxes 2012 Domestically controlled QIE. When is the last day to file taxes 2012 Late filing of certifications or notices. When is the last day to file taxes 2012 Certifications. When is the last day to file taxes 2012 Liability of agent or qualified substitute. When is the last day to file taxes 2012 Reporting and Paying the Tax Withholding Certificates Tax Treaty TablesTable 1 Table 2 Table 3 How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). When is the last day to file taxes 2012 Withholding of Tax In most cases, a foreign person is subject to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 tax on its U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source income. When is the last day to file taxes 2012 Most types of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source income received by a foreign person are subject to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 tax of 30%. When is the last day to file taxes 2012 A reduced rate, including exemption, may apply if there is a tax treaty between the foreign person's country of residence and the United States. When is the last day to file taxes 2012 The tax is generally withheld (NRA withholding) from the payment made to the foreign person. When is the last day to file taxes 2012 The term “NRA withholding” is used in this publication descriptively to refer to withholding required under sections 1441, 1442, and 1443 of the Internal Revenue Code. When is the last day to file taxes 2012 In most cases, NRA withholding describes the withholding regime that requires withholding on a payment of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source income. When is the last day to file taxes 2012 Payments to foreign persons, including nonresident alien individuals, foreign entities, and governments, may be subject to NRA withholding. When is the last day to file taxes 2012 NRA withholding does not include withholding under section 1445 of the Code (see U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Real Property Interest, later) or under section 1446 of the Code (see Partnership Withholding on Effectively Connected Income , later). When is the last day to file taxes 2012 A withholding agent (defined next) is the person responsible for withholding on payments made to a foreign person. When is the last day to file taxes 2012 However, a withholding agent that can reliably associate the payment with documentation (discussed later) from a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person is not required to withhold. When is the last day to file taxes 2012 In addition, a withholding agent may apply a reduced rate of withholding (including an exemption from withholding) if it can reliably associate the payment with documentation from a beneficial owner that is a foreign person entitled to a reduced rate of withholding. When is the last day to file taxes 2012 Withholding Agent You are a withholding agent if you are a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign person that has control, receipt, custody, disposal, or payment of any item of income of a foreign person that is subject to withholding. When is the last day to file taxes 2012 A withholding agent may be an individual, corporation, partnership, trust, association, nominee (under section 1446 of the Code), or any other entity, including any foreign intermediary, foreign partnership, or U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch of certain foreign banks and insurance companies. When is the last day to file taxes 2012 You may be a withholding agent even if there is no requirement to withhold from a payment or even if another person has withheld the required amount from the payment. When is the last day to file taxes 2012 Although several persons may be withholding agents for a single payment, the full tax is required to be withheld only once. When is the last day to file taxes 2012 In most cases, the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person who pays an amount subject to NRA withholding is the person responsible for withholding. When is the last day to file taxes 2012 However, other persons may be required to withhold. When is the last day to file taxes 2012 For example, a payment made by a flow-through entity or nonqualified intermediary that knows, or has reason to know, that the full amount of NRA withholding was not done by the person from which it receives a payment is required to do the appropriate withholding since it also falls within the definition of a withholding agent. When is the last day to file taxes 2012 In addition, withholding must be done by any qualified intermediary, withholding foreign partnership, or withholding foreign trust in accordance with the terms of its withholding agreement, discussed later. When is the last day to file taxes 2012 Liability for tax. When is the last day to file taxes 2012   As a withholding agent, you are personally liable for any tax required to be withheld. When is the last day to file taxes 2012 This liability is independent of the tax liability of the foreign person to whom the payment is made. When is the last day to file taxes 2012 If you fail to withhold and the foreign payee fails to satisfy its U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 tax liability, then both you and the foreign person are liable for tax, as well as interest and any applicable penalties. When is the last day to file taxes 2012   The applicable tax will be collected only once. When is the last day to file taxes 2012 If the foreign person satisfies its U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 tax liability, you are not liable for the tax but remain liable for any interest and penalties for failure to withhold. When is the last day to file taxes 2012 Determination of amount to withhold. When is the last day to file taxes 2012   You must withhold on the gross amount subject to NRA withholding. When is the last day to file taxes 2012 You cannot reduce the gross amount by any deductions. When is the last day to file taxes 2012 However, see Scholarships and Fellowship Grants and Pay for Personal Services Performed , later, for when a deduction for a personal exemption may be allowed. When is the last day to file taxes 2012   If the determination of the source of the income or the amount subject to tax depends on facts that are not known at the time of payment, you must withhold an amount sufficient to ensure that at least 30% of the amount subsequently determined to be subject to withholding is withheld. When is the last day to file taxes 2012 In no case, however, should you withhold more than 30% of the total amount paid. When is the last day to file taxes 2012 Or, you may make a reasonable estimate of the amount from U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 sources and put a corresponding part of the amount due in escrow until the amount from U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 sources can be determined, at which time withholding becomes due. When is the last day to file taxes 2012 When to withhold. When is the last day to file taxes 2012   Withholding is required at the time you make a payment of an amount subject to withholding. When is the last day to file taxes 2012 A payment is made to a person if that person realizes income, whether or not there is an actual transfer of cash or other property. When is the last day to file taxes 2012 A payment is considered made to a person if it is paid for that person's benefit. When is the last day to file taxes 2012 For example, a payment made to a creditor of a person in satisfaction of that person's debt to the creditor is considered made to the person. When is the last day to file taxes 2012 A payment also is considered made to a person if it is made to that person's agent. When is the last day to file taxes 2012   A U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 partnership should withhold when any distributions that include amounts subject to withholding are made. When is the last day to file taxes 2012 However, if a foreign partner's distributive share of income subject to withholding is not actually distributed, the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 partnership must withhold on the foreign partner's distributive share of the income on the earlier of the date that a Schedule K-1 (Form 1065) is provided or mailed to the partner or the due date for furnishing that schedule. When is the last day to file taxes 2012 If the distributable amount consists of effectively connected income, see Partnership Withholding on Effectively Connected Income , later. When is the last day to file taxes 2012 A U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trust is required to withhold on the amount includible in the gross income of a foreign beneficiary to the extent the trust's distributable net income consists of an amount subject to withholding. When is the last day to file taxes 2012 To the extent a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trust is required to distribute an amount subject to withholding but does not actually distribute the amount, it must withhold on the foreign beneficiary's allocable share at the time the income is required to be reported on Form 1042-S. When is the last day to file taxes 2012 Withholding and Reporting Obligations You are required to report payments subject to NRA withholding on Form 1042-S and to file a tax return on Form 1042. When is the last day to file taxes 2012 (See Returns Required , later. When is the last day to file taxes 2012 ) An exception from reporting may apply to individuals who are not required to withhold from a payment and who do not make the payment in the course of their trade or business. When is the last day to file taxes 2012 Form 1099 reporting and backup withholding. When is the last day to file taxes 2012    You also may be responsible as a payer for reporting on Form 1099 payments made to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person. When is the last day to file taxes 2012 You must withhold 28% (backup withholding rate) from a reportable payment made to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person that is subject to Form 1099 reporting if any of the following apply. When is the last day to file taxes 2012 The U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person has not provided its taxpayer identification number (TIN) in the manner required. When is the last day to file taxes 2012 The IRS notifies you that the TIN furnished by the payee is incorrect. When is the last day to file taxes 2012 There has been a notified payee underreporting. When is the last day to file taxes 2012 There has been a payee certification failure. When is the last day to file taxes 2012 In most cases, a TIN must be provided by a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt recipient on Form W-9, Request for Taxpayer Identification Number and Certification. When is the last day to file taxes 2012 A payer files a tax return on Form 945, Annual Return of Withheld Federal Income Tax, for backup withholding. When is the last day to file taxes 2012 You may be required to file Form 1099 and, if appropriate, backup withhold, even if you do not make the payments directly to that U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person. When is the last day to file taxes 2012 For example, you are required to report income paid to a foreign intermediary or flow-through entity that collects for a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person subject to Form 1099 reporting. When is the last day to file taxes 2012 See Identifying the Payee , later, for more information. When is the last day to file taxes 2012 Also see Section S. When is the last day to file taxes 2012 Special Rules for Reporting Payments Made Through Foreign Intermediaries and Foreign Flow-Through Entities on Form 1099 in the General Instructions for Certain Information Returns. When is the last day to file taxes 2012 Foreign persons who provide Form W-8BEN, Form W-8ECI, or Form W-8EXP (or applicable documentary evidence) are exempt from backup withholding and Form 1099 reporting. When is the last day to file taxes 2012 Wages paid to employees. When is the last day to file taxes 2012   If you are the employer of a nonresident alien, you generally must withhold taxes at graduated rates. When is the last day to file taxes 2012 See Pay for Personal Services Performed , later. When is the last day to file taxes 2012 Effectively connected income by partnerships. When is the last day to file taxes 2012   A withholding agent that is a partnership (whether U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign) is also responsible for withholding on its income effectively connected with a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trade or business that is allocable to foreign partners. When is the last day to file taxes 2012 See Partnership Withholding on Effectively Connected Income , later, for more information. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 real property interest. When is the last day to file taxes 2012   A withholding agent also may be responsible for withholding if a foreign person transfers a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 real property interest to the agent, or if it is a corporation, partnership, trust, or estate that distributes a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 real property interest to a shareholder, partner, or beneficiary that is a foreign person. When is the last day to file taxes 2012 See U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Real Property Interest , later. When is the last day to file taxes 2012 Persons Subject to NRA Withholding NRA withholding applies only to payments made to a payee that is a foreign person. When is the last day to file taxes 2012 It does not apply to payments made to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 persons. When is the last day to file taxes 2012 Usually, you determine the payee's status as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign person based on the documentation that person provides. When is the last day to file taxes 2012 See Documentation , later. When is the last day to file taxes 2012 However, if you have received no documentation or you cannot reliably associate all or a part of a payment with documentation, then you must apply certain presumption rules, discussed later. When is the last day to file taxes 2012 Identifying the Payee In most cases, the payee is the person to whom you make the payment, regardless of whether that person is the beneficial owner of the income. When is the last day to file taxes 2012 However, there are situations in which the payee is a person other than the one to whom you actually make a payment. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 agent of foreign person. When is the last day to file taxes 2012   If you make a payment to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person and you have actual knowledge that the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person is receiving the payment as an agent of a foreign person, you must treat the payment as made to the foreign person. When is the last day to file taxes 2012 However, if the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person is a financial institution, you may treat the institution as the payee provided you have no reason to believe that the institution will not comply with its own obligation to withhold. When is the last day to file taxes 2012   If the payment is not subject to NRA withholding (for example, gross proceeds from the sales of securities), you must treat the payment as made to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person and not as a payment to a foreign person. When is the last day to file taxes 2012 You may be required to report the payment on Form 1099 and, if applicable, backup withhold. When is the last day to file taxes 2012 Disregarded entities. When is the last day to file taxes 2012   A business entity that is not a corporation and that has a single owner may be disregarded as an entity separate from its owner (a disregarded entity) for federal tax purposes. When is the last day to file taxes 2012 The payee of a payment made to a disregarded entity is the owner of the entity. When is the last day to file taxes 2012   If the owner of the entity is a foreign person, you must apply NRA withholding unless you can treat the foreign owner as a beneficial owner entitled to a reduced rate of withholding. When is the last day to file taxes 2012   If the owner is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person, you do not apply NRA withholding. When is the last day to file taxes 2012 However, you may be required to report the payment on Form 1099 and, if applicable, backup withhold. When is the last day to file taxes 2012 You may assume that a foreign entity is not a disregarded entity unless you can reliably associate the payment with documentation provided by the owner or you have actual knowledge or reason to know that the foreign entity is a disregarded entity. When is the last day to file taxes 2012 Flow-Through Entities The payees of payments (other than income effectively connected with a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trade or business) made to a foreign flow-through entity are the owners or beneficiaries of the flow-through entity. When is the last day to file taxes 2012 This rule applies for purposes of NRA withholding and for Form 1099 reporting and backup withholding. When is the last day to file taxes 2012 Income that is, or is deemed to be, effectively connected with the conduct of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trade or business of a flow-through entity is treated as paid to the entity. When is the last day to file taxes 2012 All of the following are flow-through entities. When is the last day to file taxes 2012 A foreign partnership (other than a withholding foreign partnership). When is the last day to file taxes 2012 A foreign simple or foreign grantor trust (other than a withholding foreign trust). When is the last day to file taxes 2012 A fiscally transparent entity receiving income for which treaty benefits are claimed. When is the last day to file taxes 2012 See Fiscally transparent entity , later. When is the last day to file taxes 2012 In most cases, you treat a payee as a flow-through entity if it provides you with a Form W-8IMY (see Documentation , later) on which it claims such status. When is the last day to file taxes 2012 You also may be required to treat the entity as a flow-through entity under the presumption rules, discussed later. When is the last day to file taxes 2012 You must determine whether the owners or beneficiaries of a flow-through entity are U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign persons, how much of the payment relates to each owner or beneficiary, and, if the owner or beneficiary is foreign, whether a reduced rate of NRA withholding applies. When is the last day to file taxes 2012 You make these determinations based on the documentation and other information (contained in a withholding statement) that is associated with the flow-through entity's Form W-8IMY. When is the last day to file taxes 2012 If you do not have all of the information that is required to reliably associate a payment with a specific payee, you must apply the presumption rules. When is the last day to file taxes 2012 See Documentation and Presumption Rules , later. When is the last day to file taxes 2012 Withholding foreign partnerships and withholding foreign trusts are not flow-through entities. When is the last day to file taxes 2012 Foreign partnerships. When is the last day to file taxes 2012    A foreign partnership is any partnership that is not organized under the laws of any state of the United States or the District of Columbia or any partnership that is treated as foreign under the income tax regulations. When is the last day to file taxes 2012 If a foreign partnership is not a withholding foreign partnership, the payees of income are the partners of the partnership, provided the partners are not themselves a flow-through entity or a foreign intermediary. When is the last day to file taxes 2012 However, the payee is the partnership itself if the partnership is claiming treaty benefits on the basis that it is not fiscally transparent and that it meets all the other requirements for claiming treaty benefits. When is the last day to file taxes 2012 If a partner is a foreign flow-through entity or a foreign intermediary, you apply the payee determination rules to that partner to determine the payees. When is the last day to file taxes 2012 Example 1. When is the last day to file taxes 2012 A nonwithholding foreign partnership has three partners: a nonresident alien individual; a foreign corporation; and a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen. When is the last day to file taxes 2012 You make a payment of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source interest to the partnership. When is the last day to file taxes 2012 It gives you a Form W-8IMY with which it associates Form W-8BEN from the nonresident alien; Form W-8BEN from the foreign corporation; and Form W-9 from the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen. When is the last day to file taxes 2012 The partnership also gives you a complete withholding statement that enables you to associate a part of the interest payment to each partner. When is the last day to file taxes 2012 You must treat all three partners as the payees of the interest payment as if the payment were made directly to them. When is the last day to file taxes 2012 Report the payment to the nonresident alien and the foreign corporation on Forms 1042-S. When is the last day to file taxes 2012 Report the payment to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen on Form 1099-INT. When is the last day to file taxes 2012 Example 2. When is the last day to file taxes 2012 A nonwithholding foreign partnership has two partners: a foreign corporation and a nonwithholding foreign partnership. When is the last day to file taxes 2012 The second partnership has two partners, both nonresident alien individuals. When is the last day to file taxes 2012 You make a payment of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source interest to the first partnership. When is the last day to file taxes 2012 It gives you a valid Form W-8IMY with which it associates a Form W-8BEN from the foreign corporation and a Form W-8IMY from the second partnership. When is the last day to file taxes 2012 In addition, Forms W-8BEN from the partners are associated with the Form W-8IMY from the second partnership. When is the last day to file taxes 2012 The Forms W-8IMY from the partnerships have complete withholding statements associated with them. When is the last day to file taxes 2012 Because you can reliably associate a part of the interest payment with the Form W-8BEN provided by the foreign corporation and the Forms W-8BEN provided by the nonresident alien individual partners as a result of the withholding statements, you must treat them as the payees of the interest. When is the last day to file taxes 2012 Example 3. When is the last day to file taxes 2012 You make a payment of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source dividends to a withholding foreign partnership. When is the last day to file taxes 2012 The partnership has two partners, both foreign corporations. When is the last day to file taxes 2012 You can reliably associate the payment with a valid Form W-8IMY from the partnership on which it represents that it is a withholding foreign partnership. When is the last day to file taxes 2012 You must treat the partnership as the payee of the dividends. When is the last day to file taxes 2012 Foreign simple and grantor trust. When is the last day to file taxes 2012   A trust is foreign unless it meets both of the following tests. When is the last day to file taxes 2012 A court within the United States is able to exercise primary supervision over the administration of the trust. When is the last day to file taxes 2012 One or more U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 persons have the authority to control all substantial decisions of the trust. When is the last day to file taxes 2012   In most cases, a foreign simple trust is a foreign trust that is required to distribute all of its income annually. When is the last day to file taxes 2012 A foreign grantor trust is a foreign trust that is treated as a grantor trust under sections 671 through 679 of the Code. When is the last day to file taxes 2012   The payees of a payment made to a foreign simple trust are the beneficiaries of the trust. When is the last day to file taxes 2012 The payees of a payment made to a foreign grantor trust are the owners of the trust. When is the last day to file taxes 2012 However, the payee is the foreign simple or grantor trust itself if the trust is claiming treaty benefits on the basis that it is not fiscally transparent and that it meets all the other requirements for claiming treaty benefits. When is the last day to file taxes 2012 If the beneficiaries or owners are themselves flow-through entities or foreign intermediaries, you apply the payee determination rules to that beneficiary or owner to determine the payees. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 A foreign simple trust has three beneficiaries: two nonresident alien individuals and a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen. When is the last day to file taxes 2012 You make a payment of interest to the foreign trust. When is the last day to file taxes 2012 It gives you a Form W-8IMY with which it associates Forms W-8BEN from the nonresident aliens and a Form W-9 from the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen. When is the last day to file taxes 2012 The trust also gives you a complete withholding statement that enables you to associate a part of the interest payment with the forms provided by each beneficiary. When is the last day to file taxes 2012 You must treat all three beneficiaries as the payees of the interest payment as if the payment were made directly to them. When is the last day to file taxes 2012 Report the payment to the nonresident aliens on Forms 1042-S. When is the last day to file taxes 2012 Report the payment to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen on Form 1099-INT. When is the last day to file taxes 2012 Fiscally transparent entity. When is the last day to file taxes 2012   If a reduced rate of withholding under an income tax treaty is claimed, a flow-through entity includes any entity in which the interest holder must treat the entity as fiscally transparent. When is the last day to file taxes 2012 The determination of whether an entity is fiscally transparent is made on an item of income basis (that is, the determination is made separately for interest, dividends, royalties, etc. When is the last day to file taxes 2012 ). When is the last day to file taxes 2012 The interest holder in an entity makes the determination by applying the laws of the jurisdiction where the interest holder is organized, incorporated, or otherwise considered a resident. When is the last day to file taxes 2012 An entity is considered to be fiscally transparent for the income to the extent the laws of that jurisdiction require the interest holder to separately take into account on a current basis the interest holder's share of the income, whether or not distributed to the interest holder, and the character and source of the income to the interest holder are determined as if the income was realized directly from the source that paid it to the entity. When is the last day to file taxes 2012 Subject to the standards of knowledge rules discussed later, you generally make the determination that an entity is fiscally transparent based on a Form W-8IMY provided by the entity. When is the last day to file taxes 2012   The payees of a payment made to a fiscally transparent entity are the interest holders of the entity. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 Entity A is a business organization organized under the laws of country X that has an income tax treaty in force with the United States. When is the last day to file taxes 2012 A has two interest holders, B and C. When is the last day to file taxes 2012 B is a corporation organized under the laws of country Y. When is the last day to file taxes 2012 C is a corporation organized under the laws of country Z. When is the last day to file taxes 2012 Both countries Y and Z have an income tax treaty in force with the United States. When is the last day to file taxes 2012 A receives royalty income from U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 sources that is not effectively connected with the conduct of a trade or business in the United States. When is the last day to file taxes 2012 For U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 income tax purposes, A is treated as a partnership. When is the last day to file taxes 2012 Country X treats A as a partnership and requires the interest holders in A to separately take into account on a current basis their respective shares of the income paid to A even if the income is not distributed. When is the last day to file taxes 2012 The laws of country X provide that the character and source of the income to A's interest holders are determined as if the income was realized directly from the source that paid it to A. When is the last day to file taxes 2012 Accordingly, A is fiscally transparent in its jurisdiction, country X. When is the last day to file taxes 2012 B and C are not fiscally transparent under the laws of their respective countries of incorporation. When is the last day to file taxes 2012 Country Y requires B to separately take into account on a current basis B's share of the income paid to A, and the character and source of the income to B is determined as if the income was realized directly from the source that paid it to A. When is the last day to file taxes 2012 Accordingly, A is fiscally transparent for that income under the laws of country Y, and B is treated as deriving its share of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source royalty income for purposes of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 -Y income tax treaty. When is the last day to file taxes 2012 Country Z, on the other hand, treats A as a corporation and does not require C to take into account its share of A's income on a current basis whether or not distributed. When is the last day to file taxes 2012 Therefore, A is not treated as fiscally transparent under the laws of country Z. When is the last day to file taxes 2012 Accordingly, C is not treated as deriving its share of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source royalty income for purposes of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 -Z income tax treaty. When is the last day to file taxes 2012 Foreign Intermediaries In most cases, if you make payments to a foreign intermediary, the payees are the persons for whom the foreign intermediary collects the payment, such as account holders or customers, not the intermediary itself. When is the last day to file taxes 2012 This rule applies for purposes of NRA withholding and for Form 1099 reporting and backup withholding. When is the last day to file taxes 2012 You may, however, treat a qualified intermediary that has assumed primary withholding responsibility for a payment as the payee, and you are not required to withhold. When is the last day to file taxes 2012 An intermediary is a custodian, broker, nominee, or any other person that acts as an agent for another person. When is the last day to file taxes 2012 A foreign intermediary is either a qualified intermediary or a nonqualified intermediary. When is the last day to file taxes 2012 In most cases, you determine whether an entity is a qualified intermediary or a nonqualified intermediary based on the representations the intermediary makes on Form W-8IMY. When is the last day to file taxes 2012 You must determine whether the customers or account holders of a foreign intermediary are U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign persons and, if the account holder or customer is foreign, whether a reduced rate of NRA withholding applies. When is the last day to file taxes 2012 You make these determinations based on the foreign intermediary's Form W-8IMY and associated information and documentation. When is the last day to file taxes 2012 If you do not have all of the information or documentation that is required to reliably associate a payment with a payee, you must apply the presumption rules. When is the last day to file taxes 2012 See Documentation and Presumption Rules , later. When is the last day to file taxes 2012 Nonqualified intermediary. When is the last day to file taxes 2012   A nonqualified intermediary (NQI) is any intermediary that is a foreign person and that is not a qualified intermediary. When is the last day to file taxes 2012 The payees of a payment made to an NQI are the customers or account holders on whose behalf the NQI is acting. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You make a payment of interest to a foreign bank that is a nonqualified intermediary. When is the last day to file taxes 2012 The bank gives you a Form W-8IMY and the Forms W-8BEN of two foreign persons, and a Form W-9 from a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person for whom the bank is collecting the payments. When is the last day to file taxes 2012 The bank also associates with its Form W-8IMY a withholding statement on which it allocates the interest payment to each account holder and provides all other information required to be on the withholding statement. When is the last day to file taxes 2012 The account holders are the payees of the interest payment. When is the last day to file taxes 2012 You should report the part of the interest paid to the two foreign persons on Forms 1042-S and the part paid to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person on Form 1099-INT. When is the last day to file taxes 2012 Qualified intermediary. When is the last day to file taxes 2012   A qualified intermediary (QI) is any foreign intermediary (or foreign branch of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 intermediary) that has entered into a qualified intermediary withholding agreement (discussed later) with the IRS. When is the last day to file taxes 2012 You may treat a QI as a payee to the extent the QI assumes primary withholding responsibility or primary Form 1099 reporting and backup withholding responsibility for a payment. When is the last day to file taxes 2012 In this situation, the QI is required to withhold the tax. When is the last day to file taxes 2012 You can determine whether a QI has assumed responsibility from the Form W-8IMY provided by the QI. When is the last day to file taxes 2012   A payment to a QI to the extent it does not assume primary NRA withholding responsibility is considered made to the person on whose behalf the QI acts. When is the last day to file taxes 2012 If a QI does not assume Form 1099 reporting and backup withholding responsibility, you must report on Form 1099 and, if applicable, backup withhold as if you were making the payment directly to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person. When is the last day to file taxes 2012 Branches of financial institutions. When is the last day to file taxes 2012   Branches of financial institutions are not permitted to operate as QIs if they are located outside of countries having approved “know-your-customer” (KYC) rules. When is the last day to file taxes 2012 The countries with approved KYC rules are listed on IRS. When is the last day to file taxes 2012 gov. When is the last day to file taxes 2012 QI withholding agreement. When is the last day to file taxes 2012   Foreign financial institutions and foreign branches of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 financial institutions can enter into an agreement with the IRS to be a qualified intermediary. When is the last day to file taxes 2012   A QI is entitled to certain simplified withholding and reporting rules. When is the last day to file taxes 2012 In general, there are three major areas whereby intermediaries with QI status are afforded such simplified treatment. When is the last day to file taxes 2012   To apply for QI status, complete Form 14345, Qualified Intermediary Application, and Form SS-4, Application for Employer Identification Number. When is the last day to file taxes 2012 These forms, and the procedures required to obtain a QI withholding agreement are available at www. When is the last day to file taxes 2012 irs. When is the last day to file taxes 2012 gov/Businesses/Corporations/Qualified-Intermediaries-(QI). When is the last day to file taxes 2012 Documentation. When is the last day to file taxes 2012   A QI is not required to forward documentation obtained from foreign account holders to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 withholding agent from whom the QI receives a payment of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 source income. When is the last day to file taxes 2012 The QI maintains such documentation at its location and provides the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 withholding agent with withholding rate pools. When is the last day to file taxes 2012 A withholding rate pool is a payment of a single type of income that is subject to a single rate of withholding. When is the last day to file taxes 2012   A QI is required to provide the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 withholding agent with information regarding U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 persons subject to Form 1099 information reporting unless the QI assumes the primary obligation to do Form 1099 reporting and backup withholding. When is the last day to file taxes 2012   If a QI obtains documentary evidence under the “know-your-customer” rules that apply to the QI under local law, and the documentary evidence is of a type specified in an attachment to the QI agreement, the documentary evidence remains valid until there is a change in circumstances or the QI knows the information is incorrect. When is the last day to file taxes 2012 This indefinite validity period rule does not apply to Forms W-8 or to documentary evidence that is not of the type specified in the attachment to the agreement. When is the last day to file taxes 2012 Form 1042-S reporting. When is the last day to file taxes 2012   A QI is permitted to report payments made to its direct foreign account holders on a pooled basis rather than reporting payments to each direct account holder specifically. When is the last day to file taxes 2012 Pooled basis reporting is not available for payments to certain account holders, such as a nonqualified intermediary or a flow-through entity (discussed earlier). When is the last day to file taxes 2012 Collective refund procedures. When is the last day to file taxes 2012   A QI may seek a refund on behalf of its direct account holders. When is the last day to file taxes 2012 The direct account holders, therefore, are not required to file returns with the IRS to obtain refunds, but rather may obtain them from the QI. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branches of foreign banks and foreign insurance companies. When is the last day to file taxes 2012   Special rules apply to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch of a foreign bank subject to Federal Reserve Board supervision or a foreign insurance company subject to state regulatory supervision. When is the last day to file taxes 2012 If you agree to treat the branch as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person, you may treat the branch as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 payee for a payment subject to NRA withholding provided you receive a Form W-8IMY from the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch on which the agreement is evidenced. When is the last day to file taxes 2012 If you treat the branch as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 payee, you are not required to withhold. When is the last day to file taxes 2012 Even though you agree to treat the branch as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person, you must report the payment on Form 1042-S. When is the last day to file taxes 2012   A financial institution organized in a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 possession is treated as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch. When is the last day to file taxes 2012 The special rules discussed in this section apply to a possessions financial institution. When is the last day to file taxes 2012   If you are paying a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch an amount that is not subject to NRA withholding, treat the payment as made to a foreign person, irrespective of any agreement to treat the branch as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person for amounts subject to NRA withholding. When is the last day to file taxes 2012 Consequently, amounts not subject to NRA withholding that are paid to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch are not subject to Form 1099 reporting or backup withholding. When is the last day to file taxes 2012   Alternatively, a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch may provide you with a Form W-8IMY with which it associates the documentation of the persons on whose behalf it acts. When is the last day to file taxes 2012 In this situation, the payees are the persons on whose behalf the branch acts provided you can reliably associate the payment with valid documentation from those persons. When is the last day to file taxes 2012 See Nonqualified Intermediaries under  Documentation, later. When is the last day to file taxes 2012   If the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch does not provide you with a Form W-8IMY, then you should treat a payment subject to NRA withholding as made to the foreign person of which the branch is a part and the income as effectively connected with the conduct of a trade or business in the United States. When is the last day to file taxes 2012 Withholding foreign partnership and foreign trust. When is the last day to file taxes 2012   A withholding foreign partnership (WP) is any foreign partnership that has entered into a WP withholding agreement with the IRS and is acting in that capacity. When is the last day to file taxes 2012 A withholding foreign trust (WT) is a foreign simple or grantor trust that has entered into a WT withholding agreement with the IRS and is acting in that capacity. When is the last day to file taxes 2012   A WP or WT may act in that capacity only for payments of amounts subject to NRA withholding that are distributed to, or included in the distributive share of, its direct partners, beneficiaries, or owners. When is the last day to file taxes 2012 A WP or WT acting in that capacity must assume NRA withholding responsibility for these amounts. When is the last day to file taxes 2012 You may treat a WP or WT as a payee if it has provided you with documentation (discussed later) that represents that it is acting as a WP or WT for such amounts. When is the last day to file taxes 2012 WP and WT withholding agreements. When is the last day to file taxes 2012   The WP and WT withholding agreements and the application procedures for the agreements are in Revenue Procedure 2003-64. When is the last day to file taxes 2012 Also see the following items. When is the last day to file taxes 2012 Revenue Procedure 2004-21. When is the last day to file taxes 2012 Revenue Procedure 2005-77. When is the last day to file taxes 2012 Employer identification number (EIN). When is the last day to file taxes 2012   A completed Form SS-4 must be submitted with the application for being a WP or WT. When is the last day to file taxes 2012 The WP or WT will be assigned a WP-EIN or WT-EIN to be used only when acting in that capacity. When is the last day to file taxes 2012 Documentation. When is the last day to file taxes 2012   A WP or WT must provide you with a Form W-8IMY that certifies that the WP or WT is acting in that capacity and a written statement identifying the amounts for which it is so acting. When is the last day to file taxes 2012 The statement is not required to contain withholding rate pool information or any information relating to the identity of a direct partner, beneficiary, or owner. When is the last day to file taxes 2012 The Form W-8IMY must contain the WP-EIN or WT-EIN. When is the last day to file taxes 2012 Foreign Persons A payee is subject to NRA withholding only if it is a foreign person. When is the last day to file taxes 2012 A foreign person includes a nonresident alien individual, foreign corporation, foreign partnership, foreign trust, foreign estate, and any other person that is not a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person. When is the last day to file taxes 2012 It also includes a foreign branch of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 financial institution if the foreign branch is a qualified intermediary. When is the last day to file taxes 2012 In most cases, the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch of a foreign corporation or partnership is treated as a foreign person. When is the last day to file taxes 2012 Nonresident alien. When is the last day to file taxes 2012   A nonresident alien is an individual who is not a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen or a resident alien. When is the last day to file taxes 2012 A resident of a foreign country under the residence article of an income tax treaty is a nonresident alien individual for purposes of withholding. When is the last day to file taxes 2012 Married to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen or resident alien. When is the last day to file taxes 2012   Nonresident alien individuals married to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizens or resident aliens may choose to be treated as resident aliens for certain income tax purposes. When is the last day to file taxes 2012 However, these individuals are still subject to the NRA withholding rules that apply to nonresident aliens for all income except wages. When is the last day to file taxes 2012 Wages paid to these individuals are subject to graduated withholding. When is the last day to file taxes 2012 See Wages Paid to Employees—Graduated Withholding . When is the last day to file taxes 2012 Resident alien. When is the last day to file taxes 2012   A resident alien is an individual who is not a citizen or national of the United States and who meets either the green card test or the substantial presence test for the calendar year. When is the last day to file taxes 2012 Green card test. When is the last day to file taxes 2012 An alien is a resident alien if the individual was a lawful permanent resident of the United States at any time during the calendar year. When is the last day to file taxes 2012 This is known as the green card test because these aliens hold immigrant visas (also known as green cards). When is the last day to file taxes 2012 Substantial presence test. When is the last day to file taxes 2012 An alien is considered a resident alien if the individual meets the substantial presence test for the calendar year. When is the last day to file taxes 2012 Under this test, the individual must be physically present in the United States on at least: 31 days during the current calendar year, and 183 days during the current year and the 2 preceding years, counting all the days of physical presence in the current year, but only 1/3 the number of days of presence in the first preceding year, and only 1/6 the number of days in the second preceding year. When is the last day to file taxes 2012   In most cases, the days the alien is in the United States as a teacher, student, or trainee on an “F,” “J,” “M,” or “Q” visa are not counted. When is the last day to file taxes 2012 This exception is for a limited period of time. When is the last day to file taxes 2012   For more information on resident and nonresident status, the tests for residence, and the exceptions to them, see Publication 519. When is the last day to file taxes 2012 Note. When is the last day to file taxes 2012   If your employee is late in notifying you that his or her status changed from nonresident alien to resident alien, you may have to make an adjustment to Form 941 if that employee was exempt from withholding of social security and Medicare taxes as a nonresident alien. When is the last day to file taxes 2012 For more information on making adjustments, see chapter 13 of Publication 15 (Circular E). When is the last day to file taxes 2012 Resident of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 possession. When is the last day to file taxes 2012   A bona fide resident of Puerto Rico, the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands (CNMI), or American Samoa who is not a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 citizen or a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 national is treated as a nonresident alien for the withholding rules explained here. When is the last day to file taxes 2012 A bona fide resident of a possession is someone who: Meets the presence test, Does not have a tax home outside the possession, and Does not have a closer connection to the United States or to a foreign country than to the possession. When is the last day to file taxes 2012   For more information, see Publication 570, Tax Guide for Individuals With Income From U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Possessions. When is the last day to file taxes 2012 Foreign corporations. When is the last day to file taxes 2012   A foreign corporation is one that does not fit the definition of a domestic corporation. When is the last day to file taxes 2012 A domestic corporation is one that was created or organized in the United States or under the laws of the United States, any of its states, or the District of Columbia. When is the last day to file taxes 2012 Guam or Northern Mariana Islands corporations. When is the last day to file taxes 2012   A corporation created or organized in, or under the laws of, Guam or the CNMI is not considered a foreign corporation for the purpose of withholding tax for the tax year if: At all times during the tax year less than 25% in value of the corporation's stock is owned, directly or indirectly, by foreign persons; and At least 20% of the corporation's gross income is derived from sources within Guam or the CNMI for the 3-year period ending with the close of the preceding tax year of the corporation (or the period the corporation has been in existence, if less). When is the last day to file taxes 2012 Note. When is the last day to file taxes 2012   The provisions discussed below under U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands and American Samoa corporations will apply to Guam or CNMI corporations when an implementing agreement is in effect between the United States and that possession. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands and American Samoa corporations. When is the last day to file taxes 2012   A corporation created or organized in, or under the laws of, the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands or American Samoa is not considered a foreign corporation for the purposes of withholding tax for the tax year if: At all times during the tax year less than 25% in value of the corporation's stock is owned, directly or indirectly, by foreign persons, At least 65% of the corporation's gross income is effectively connected with the conduct of a trade or business in the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands, American Samoa, Guam, the CNMI, or the United States for the 3-year period ending with the close of the tax year of the corporation (or the period the corporation or any predecessor has been in existence, if less), and No substantial part of the income of the corporation is used, directly or indirectly, to satisfy obligations to a person who is not a bona fide resident of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Virgin Islands, American Samoa, Guam, the CNMI, or the United States. When is the last day to file taxes 2012 Foreign private foundations. When is the last day to file taxes 2012   A private foundation that was created or organized under the laws of a foreign country is a foreign private foundation. When is the last day to file taxes 2012 Gross investment income from sources within the United States paid to a qualified foreign private foundation is subject to NRA withholding at a 4% rate (unless exempted by a treaty) rather than the ordinary statutory 30% rate. When is the last day to file taxes 2012 Other foreign organizations, associations, and charitable institutions. When is the last day to file taxes 2012   An organization may be exempt from income tax under section 501(a) of the Internal Revenue Code even if it was formed under foreign law. When is the last day to file taxes 2012 In most cases, you do not have to withhold tax on payments of income to these foreign tax-exempt organizations unless the IRS has determined that they are foreign private foundations. When is the last day to file taxes 2012   Payments to these organizations, however, must be reported on Form 1042-S, even though no tax is withheld. When is the last day to file taxes 2012   You must withhold tax on the unrelated business income (as described in Publication 598, Tax on Unrelated Business Income of Exempt Organizations) of foreign tax-exempt organizations in the same way that you would withhold tax on similar income of nonexempt organizations. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branches of foreign persons. When is the last day to file taxes 2012   In most cases, a payment to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch of a foreign person is a payment made to the foreign person. When is the last day to file taxes 2012 However, you may treat payments to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branches of foreign banks and foreign insurance companies (discussed earlier) that are subject to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 regulatory supervision as payments made to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person, if you and the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch have agreed to do so, and if their agreement is evidenced by a withholding certificate, Form W-8IMY. When is the last day to file taxes 2012 For this purpose, a financial institution organized under the laws of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 possession is treated as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch. When is the last day to file taxes 2012 Documentation In most cases, you must withhold 30% from the gross amount paid to a foreign payee unless you can reliably associate the payment with valid documentation that establishes either of the following. When is the last day to file taxes 2012 The payee is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person. When is the last day to file taxes 2012 The payee is a foreign person that is the beneficial owner of the income and is entitled to a reduced rate of withholding. When is the last day to file taxes 2012 In most cases, you must get the documentation before you make the payment. When is the last day to file taxes 2012 The documentation is not valid if you know, or have reason to know, that it is unreliable or incorrect. When is the last day to file taxes 2012 See Standards of Knowledge , later. When is the last day to file taxes 2012 If you cannot reliably associate a payment with valid documentation, you must use the presumption rules discussed later. When is the last day to file taxes 2012 For example, if you do not have documentation or you cannot determine the part of a payment that is allocable to specific documentation, you must use the presumption rules. When is the last day to file taxes 2012 The specific types of documentation are discussed in this section. When is the last day to file taxes 2012 However, see Withholding on Specific Income , later, as well as the instructions to the particular forms. When is the last day to file taxes 2012 As the withholding agent, you also may want to see the Instructions for the Requester of Forms W-8BEN, W-8ECI, W-8EXP, and W-8IMY. When is the last day to file taxes 2012 Section 1446 withholding. When is the last day to file taxes 2012   Under section 1446 of the Code, a partnership must withhold tax on its effectively connected income allocable to a foreign partner. When is the last day to file taxes 2012 In most cases, a partnership determines if a partner is a foreign partner and the partner's tax classification based on the withholding certificate provided by the partner. When is the last day to file taxes 2012 This is the same documentation that is filed for NRA withholding, but may require additional information as discussed under each of the forms in this section. When is the last day to file taxes 2012 Joint owners. When is the last day to file taxes 2012    If you make a payment to joint owners, you need to get documentation from each owner. When is the last day to file taxes 2012 Form W-9. When is the last day to file taxes 2012   In most cases, you can treat the payee as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person if the payee gives you a Form W-9. When is the last day to file taxes 2012 The Form W-9 can be used only by a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person and must contain the payee's taxpayer identification number (TIN). When is the last day to file taxes 2012 If there is more than one owner, you may treat the total amount as paid to a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person if any one of the owners gives you a Form W-9. When is the last day to file taxes 2012 See U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Taxpayer Identification Numbers , later. When is the last day to file taxes 2012 U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 persons are not subject to NRA withholding, but may be subject to Form 1099 reporting and backup withholding. When is the last day to file taxes 2012 Form W-8. When is the last day to file taxes 2012   In most cases, a foreign payee of the income should give you a form in the Form W-8 series. When is the last day to file taxes 2012 Until further notice, you can rely upon Forms W-8 that contain a P. When is the last day to file taxes 2012 O. When is the last day to file taxes 2012 box as a permanent residence address provided you do not know, or have reason to know, that the person providing the form is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person and that a street address is available. When is the last day to file taxes 2012 You may rely on Forms W-8 for which there is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 mailing address provided you received the form prior to December 31, 2001. When is the last day to file taxes 2012   If certain requirements are met, the foreign person can give you documentary evidence, rather than a Form W-8. When is the last day to file taxes 2012 You can rely on documentary evidence in lieu of a Form W-8 for a payment made in a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 possession. When is the last day to file taxes 2012 Other documentation. When is the last day to file taxes 2012   Other documentation may be required to claim an exemption from, or a reduced rate of, withholding on pay for personal services. When is the last day to file taxes 2012 The nonresident alien individual may have to give you a Form W-4 or a Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual. When is the last day to file taxes 2012 These forms are discussed in Pay for Personal Services Performed under Withholding on Specific Income. When is the last day to file taxes 2012 Beneficial Owners If all the appropriate requirements have been established on a Form W-8BEN, W-8ECI, W-8EXP or, if applicable, on documentary evidence, you may treat the payee as a foreign beneficial owner. When is the last day to file taxes 2012 Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding. When is the last day to file taxes 2012   This form is used by a foreign person to: Establish foreign status; Claim that such person is the beneficial owner of the income for which the form is being furnished or a partner in a partnership subject to section 1446 withholding; and If applicable, claim a reduced rate of, or exemption from, withholding under an income tax treaty. When is the last day to file taxes 2012   Form W-8BEN also may be used to claim that the foreign person is exempt from Form 1099 reporting and backup withholding for income that is not subject to NRA withholding. When is the last day to file taxes 2012 For example, a foreign person may provide a Form W-8BEN to a broker to establish that the gross proceeds from the sale of securities are not subject to Form 1099 reporting or backup withholding. When is the last day to file taxes 2012 Claiming treaty benefits. When is the last day to file taxes 2012   You may apply a reduced rate of withholding to a foreign person that provides a Form W-8BEN claiming a reduced rate of withholding under an income tax treaty only if the person provides a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 TIN and certifies that: It is a resident of a treaty country; It is the beneficial owner of the income; If it is an entity, it derives the income within the meaning of section 894 of the Internal Revenue Code (it is not fiscally transparent); and It meets any limitation on benefits provision contained in the treaty, if applicable. When is the last day to file taxes 2012   If the foreign beneficial owner claiming a treaty benefit is related to you, the foreign beneficial owner also must certify on Form W-8BEN that it will file Form 8833, Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b), if the amount subject to NRA withholding received during a calendar year exceeds, in the aggregate, $500,000. When is the last day to file taxes 2012   An entity derives income for which it is claiming treaty benefits only if the entity is not treated as fiscally transparent for that income. When is the last day to file taxes 2012 See Fiscally transparent entity discussed earlier under Flow-Through Entities. When is the last day to file taxes 2012   Limitations on benefits provisions generally prohibit third country residents from obtaining treaty benefits. When is the last day to file taxes 2012 For example, a foreign corporation may not be entitled to a reduced rate of withholding unless a minimum percentage of its owners are citizens or residents of the United States or the treaty country. When is the last day to file taxes 2012   The exemptions from, or reduced rates of, U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 tax vary under each treaty. When is the last day to file taxes 2012 You must check the provisions of the tax treaty that apply. When is the last day to file taxes 2012 Tables at the end of this publication show the countries with which the United States has income tax treaties and the rates of withholding that apply in cases where all conditions of the particular treaty articles are satisfied. When is the last day to file taxes 2012   If you know, or have reason to know, that an owner of income is not eligible for treaty benefits claimed, you must not apply the treaty rate. When is the last day to file taxes 2012 You are not, however, responsible for misstatements on a Form W-8, documentary evidence, or statements accompanying documentary evidence for which you did not have actual knowledge, or reason to know, that the statements were incorrect. When is the last day to file taxes 2012 Exceptions to TIN requirement. When is the last day to file taxes 2012   A foreign person does not have to provide a TIN to claim a reduced rate of withholding under a treaty if the requirements for the following exceptions are met. When is the last day to file taxes 2012 Income from marketable securities (discussed next). When is the last day to file taxes 2012 Unexpected payments to an individual (discussed under U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Taxpayer Identification Numbers ). When is the last day to file taxes 2012 Marketable securities. When is the last day to file taxes 2012   A Form W-8BEN provided to claim treaty benefits does not need a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 TIN if the foreign beneficial owner is claiming the benefits on income from marketable securities. When is the last day to file taxes 2012 For this purpose, income from a marketable security consists of the following items. When is the last day to file taxes 2012 Dividends and interest from stocks and debt obligations that are actively traded. When is the last day to file taxes 2012 Dividends from any redeemable security issued by an investment company registered under the Investment Company Act of 1940 (mutual fund). When is the last day to file taxes 2012 Dividends, interest, or royalties from units of beneficial interest in a unit investment trust that are (or were upon issuance) publicly offered and are registered with the SEC under the Securities Act of 1933. When is the last day to file taxes 2012 Income related to loans of any of the above securities. When is the last day to file taxes 2012 Offshore accounts. When is the last day to file taxes 2012   If a payment is made outside the United States to an offshore account, a payee may give you documentary evidence, rather than Form W-8BEN. When is the last day to file taxes 2012   In most cases, a payment is made outside the United States if you complete the acts necessary to effect the payment outside the United States. When is the last day to file taxes 2012 However, an amount paid by a bank or other financial institution on a deposit or account usually will be treated as paid at the branch or office where the amount is credited. When is the last day to file taxes 2012 An offshore account is an account maintained at an office or branch of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 or foreign bank or other financial institution at any location outside the United States. When is the last day to file taxes 2012   You may rely on documentary evidence given to you by a nonqualified intermediary or a flow-through entity with its Form W-8IMY. When is the last day to file taxes 2012 This rule applies even though you make the payment to a nonqualified intermediary or flow-through entity in the United States. When is the last day to file taxes 2012 In most cases, the nonqualified intermediary or flow-through entity that gives you documentary evidence also will have to give you a withholding statement, discussed later. When is the last day to file taxes 2012 Documentary evidence. When is the last day to file taxes 2012   You may apply a reduced rate of withholding to income from marketable securities (discussed earlier) paid outside the United States to an offshore account if the beneficial owner gives you documentary evidence in place of a Form W-8BEN. When is the last day to file taxes 2012 To claim treaty benefits, the documentary evidence must be one of the following: A certificate of residence that: Is issued by a tax official of the treaty country of which the foreign beneficial owner claims to be a resident, States that the person has filed its most recent income tax return as a resident of that country, and Is issued within 3 years prior to being presented to you. When is the last day to file taxes 2012 Documentation for an individual that: Includes the individual's name, address, and photograph, Is an official document issued by an authorized governmental body, and Is issued no more than 3 years prior to being presented to you. When is the last day to file taxes 2012 Documentation for an entity that: Includes the name of the entity, Includes the address of its principal office in the treaty country, and Is an official document issued by an authorized governmental body. When is the last day to file taxes 2012 In addition to the documentary evidence, a foreign beneficial owner that is an entity must provide a statement that it derives the income for which it claims treaty benefits and that it meets one or more of the conditions set forth in a limitation on benefits article, if any, (or similar provision) contained in the applicable treaty. When is the last day to file taxes 2012 Form W-8ECI, Certificate of Foreign Person's Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States. When is the last day to file taxes 2012   This form is used by a foreign person to: Establish foreign status, Claim that such person is the beneficial owner of the income for which the form is being furnished, and Claim that the income is effectively connected with the conduct of a trade or business in the United States. When is the last day to file taxes 2012 (See Effectively Connected Income , later. When is the last day to file taxes 2012 )   Effectively connected income for which a valid Form W-8ECI has been provided is generally not subject to NRA withholding. When is the last day to file taxes 2012   If a partner submits this form to a partnership, the income claimed to be effectively connected with the conduct of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 trade or business is subject to withholding under section 1446. When is the last day to file taxes 2012 If the partner has made, or will make, an election under section 871(d) or 882(d), the partner must submit Form W-8ECI, and attach a copy of the election, or a statement of intent to elect, to the form. When is the last day to file taxes 2012    If the partner's only effectively connected income is the income allocated from the partnership and the partner is not making the election under section 871(d) or 882(d), the partner should provide Form W-8BEN to the partnership. When is the last day to file taxes 2012 Form W-8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding. When is the last day to file taxes 2012   This form is used by a foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization, foreign private foundation, or government of a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 possession to: Establish foreign status, Claim that such person is the beneficial owner of the income for which the form is being furnished, and Claim a reduced rate of, or an exemption from, withholding as such an entity. When is the last day to file taxes 2012   If the government or organization is a partner in a partnership carrying on a trade or business in the United States, the effectively connected income allocable to the partner is subject to withholding under section 1446. When is the last day to file taxes 2012   See Foreign Governments and Certain Other Foreign Organizations , later. When is the last day to file taxes 2012 Foreign Intermediaries and Foreign Flow-Through Entities Payments made to a foreign intermediary or foreign flow-through entity are treated as made to the payees on whose behalf the intermediary or entity acts. When is the last day to file taxes 2012 The Form W-8IMY provided by a foreign intermediary or flow-through entity must be accompanied by additional information for you to be able to reliably associate the payment with a payee. When is the last day to file taxes 2012 The additional information required depends on the type of intermediary or flow-through entity and the extent of the withholding responsibilities it assumes. When is the last day to file taxes 2012 Form W-8IMY, Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Branches for United States Tax Withholding. When is the last day to file taxes 2012   This form is used by foreign intermediaries and foreign flow-through entities, as well as certain U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branches, to: Represent that a foreign person is a qualified intermediary or nonqualified intermediary, Represent, if applicable, that the qualified intermediary is assuming primary NRA withholding responsibility and/or primary Form 1099 reporting and backup withholding responsibility, Represent that a foreign partnership or a foreign simple or grantor trust is a withholding foreign partnership or a withholding foreign trust, Represent that a foreign flow-through entity is a nonwithholding foreign partnership, or a nonwithholding foreign trust and that the income is not effectively connected with the conduct of a trade or business in the United States, Represent that the provider is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch of a foreign bank or insurance company and either is agreeing to be treated as a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person or is transmitting documentation of the persons on whose behalf it is acting, or Represent that, for purposes of section 1446, it is an upper-tier foreign partnership or a foreign grantor trust and that the form is being used to transmit the required documentation. When is the last day to file taxes 2012 For information on qualifying as an upper-tier foreign partnership, see Regulations section 1. When is the last day to file taxes 2012 1446-5. When is the last day to file taxes 2012 Qualified Intermediaries In most cases, a QI is any foreign intermediary that has entered into a QI withholding agreement (discussed earlier) with the IRS. When is the last day to file taxes 2012 A foreign intermediary that has received a QI employer identification number (QI-EIN) may represent on Form W-8IMY that it is a QI before it receives a fully executed agreement. When is the last day to file taxes 2012 The intermediary can claim that it is a QI until the IRS revokes its QI-EIN. When is the last day to file taxes 2012 The IRS will revoke a QI-EIN if the QI agreement is not executed and returned to the IRS within a reasonable period of time after the agreement was sent to the intermediary for signature. When is the last day to file taxes 2012 Responsibilities. When is the last day to file taxes 2012   Payments made to a QI that does not assume NRA withholding responsibility are treated as paid to its account holders and customers. When is the last day to file taxes 2012 However, a QI is not required to provide you with documentation it obtains from its foreign account holders and customers. When is the last day to file taxes 2012 Instead, it provides you with a withholding statement that contains withholding rate pool information. When is the last day to file taxes 2012 A withholding rate pool is a payment of a single type of income, determined in accordance with the categories of income reported on Form 1042-S that is subject to a single rate of withholding. When is the last day to file taxes 2012 A qualified intermediary is required to provide you with information regarding U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 persons subject to Form 1099 reporting and to provide you withholding rate pool information separately for each such U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person unless it has assumed Form 1099 reporting and backup withholding responsibility. When is the last day to file taxes 2012 For the alternative procedure for providing rate pool information for U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt persons, see the Form W-8IMY instructions. When is the last day to file taxes 2012   The withholding statement must: Designate those accounts for which it acts as a qualified intermediary, Designate those accounts for which it assumes primary NRA withholding responsibility and/or primary Form 1099 and backup withholding responsibility, and Provide sufficient information for you to allocate the payment to a withholding rate pool. When is the last day to file taxes 2012   The extent to which you must have withholding rate pool information depends on the withholding and reporting obligations assumed by the QI. When is the last day to file taxes 2012 Primary responsibility not assumed. When is the last day to file taxes 2012   If a QI does not assume primary NRA withholding responsibility or primary Form 1099 reporting and backup withholding responsibility for the payment, you can reliably associate the payment with valid documentation only to the extent you can reliably determine the part of the payment that relates to each withholding rate pool for foreign payees. When is the last day to file taxes 2012 Unless the alternative procedure applies, the qualified intermediary must provide you with a separate withholding rate pool for each U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person subject to Form 1099 reporting and/or backup withholding. When is the last day to file taxes 2012 The QI must provide a Form W-9 or, in the absence of the form, the name, address, and TIN, if available, for such person. When is the last day to file taxes 2012 Primary NRA withholding responsibility assumed. When is the last day to file taxes 2012   If you make a payment to a QI that assumes primary NRA withholding responsibility (but not primary Form 1099 reporting and backup withholding responsibility), you can reliably associate the payment with valid documentation only to the extent you can reliably determine the part of the payment that relates to the withholding rate pool for which the QI assumes primary NRA withholding responsibility and the part of the payment attributable to withholding rate pools for each U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person, unless the alternative procedure applies, subject to Form 1099 reporting and/or backup withholding. When is the last day to file taxes 2012 The QI must provide a Form W-9 or, in the absence of the form, the name, address, and TIN, if available, for such person. When is the last day to file taxes 2012 Primary NRA and Form 1099 responsibility assumed. When is the last day to file taxes 2012   If you make a payment to a QI that assumes both primary NRA withholding responsibility and primary Form 1099 reporting and backup withholding responsibility, you can reliably associate a payment with valid documentation provided that you receive a valid Form W-8IMY. When is the last day to file taxes 2012 It is not necessary to associate the payment with withholding rate pools. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You make a payment of dividends to a QI. When is the last day to file taxes 2012 It has five customers: two are foreign persons who have provided documentation entitling them to a 15% rate of withholding on dividends; two are foreign persons subject to a 30% rate of withholding on dividends; and one is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 individual who provides it with a Form W-9. When is the last day to file taxes 2012 Each customer is entitled to 20% of the dividend payment. When is the last day to file taxes 2012 The QI does not assume any primary withholding responsibility. When is the last day to file taxes 2012 The QI gives you a Form W-8IMY with which it associates the Form W-9 and a withholding statement that allocates 40% of the dividend to a 15% withholding rate pool, 40% to a 30% withholding rate pool, and 20% to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 individual. When is the last day to file taxes 2012 You should report on Forms 1042-S 40% of the payment as made to a 15% rate dividend pool and 40% of the payment as made to a 30% rate dividend pool. When is the last day to file taxes 2012 The part of the payment allocable to the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 individual (20%) is reportable on Form 1099-DIV. When is the last day to file taxes 2012 Smaller partnerships and trusts. When is the last day to file taxes 2012   A QI may apply special rules to a smaller partnership or trust (Joint Account Provision) only if the partnership or trust meets the following conditions. When is the last day to file taxes 2012 It is a foreign partnership or foreign simple or grantor trust. When is the last day to file taxes 2012 It is a direct account holder of the QI. When is the last day to file taxes 2012 It does not have any partner, beneficiary, or owner that is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person or a pass- through partner, beneficiary, or owner. When is the last day to file taxes 2012   For information on these rules, see section 4A. When is the last day to file taxes 2012 01 of the QI agreement. When is the last day to file taxes 2012 This is found in Appendix 3 of Revenue Procedure 2003-64. When is the last day to file taxes 2012 Also see Revenue Procedure 2004-21. When is the last day to file taxes 2012 Related partnerships and trusts. When is the last day to file taxes 2012    A QI may apply special rules to a related partnership or trust only if the partnership or trust meets the following conditions. When is the last day to file taxes 2012 It is a foreign partnership or foreign simple or grantor trust. When is the last day to file taxes 2012 It is either: A direct account holder of the QI, or An indirect account holder of the QI that is a direct partner, beneficiary, or owner of a partnership or trust to which the QI has applied this rule. When is the last day to file taxes 2012 For information on these rules, see section 4A. When is the last day to file taxes 2012 02 of the QI agreement. When is the last day to file taxes 2012 This is found in Appendix 3 of Revenue Procedure 2003-64. When is the last day to file taxes 2012 Also see Revenue Procedure 2005-77. When is the last day to file taxes 2012 Nonqualified Intermediaries If you are making a payment to an NQI, foreign flow-through entity, or U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch that is using Form W-8IMY to transmit information about the branch's account holders or customers, you can treat the payment (or a part of the payment) as reliably associated with valid documentation from a specific payee only if, prior to making the payment: You can allocate the payment to a valid Form W-8IMY, You can reliably determine how much of the payment relates to valid documentation provided by a payee (a person that is not itself a foreign intermediary, flow- through entity, or U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch), and You have sufficient information to report the payment on Form 1042-S or Form 1099, if reporting is required. When is the last day to file taxes 2012 The NQI, flow-through entity, or U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch must give you certain information on a withholding statement that is associated with the Form W-8IMY. When is the last day to file taxes 2012 A withholding statement must be updated to keep the information accurate prior to each payment. When is the last day to file taxes 2012 Withholding statement. When is the last day to file taxes 2012   In most cases, a withholding statement must contain the following information. When is the last day to file taxes 2012 The name, address, and TIN (if any, or if required) of each person for whom documentation is provided. When is the last day to file taxes 2012 The type of documentation (documentary evidence, Form W-8, or Form W-9) for every person for whom documentation has been provided. When is the last day to file taxes 2012 The status of the person for whom the documentation has been provided, such as whether the person is a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 exempt recipient (U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person exempt from Form 1099 reporting), U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt recipient (U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 person subject to Form 1099 reporting), or a foreign person. When is the last day to file taxes 2012 For a foreign person, the statement must indicate whether the person is a beneficial owner or a foreign intermediary, flow-through entity, or a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch. When is the last day to file taxes 2012 The type of recipient the person is, based on the recipient codes used on Form 1042-S. When is the last day to file taxes 2012 Information allocating each payment, by income type, to each payee (including U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 exempt and U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt recipients) for whom documentation has been provided. When is the last day to file taxes 2012 The rate of withholding that applies to each foreign person to whom a payment is allocated. When is the last day to file taxes 2012 A foreign payee's country of residence. When is the last day to file taxes 2012 If a reduced rate of withholding is claimed, the basis for a reduced rate of withholding (for example, portfolio interest, treaty benefit, etc. When is the last day to file taxes 2012 ). When is the last day to file taxes 2012 In the case of treaty benefits claimed by entities, whether the applicable limitation on benefits statement and the statement that the foreign person derives the income for which treaty benefits are claimed, have been made. When is the last day to file taxes 2012 The name, address, and TIN (if any) of any other NQI, flow-through entity, or U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 branch from which the payee will directly receive a payment. When is the last day to file taxes 2012 Any other information a withholding agent requests to fulfill its reporting and withholding obligations. When is the last day to file taxes 2012 Alternative procedure. When is the last day to file taxes 2012   Under this alternative procedure the NQI can give you the information that allocates each payment to each foreign and U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 exempt recipient by January 31 following the calendar year of payment, rather than prior to the payment being made as otherwise required. When is the last day to file taxes 2012 To take advantage of this procedure, the NQI must: (a) inform you, on its withholding statement, that it is using the alternative procedure; and (b) obtain your consent. When is the last day to file taxes 2012 You must receive the withholding statement with all the required information (other than item 5) prior to making the payment. When is the last day to file taxes 2012    This alternative procedure cannot be used for payments to U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt recipients. When is the last day to file taxes 2012 Therefore, an NQI must always provide you with allocation information for all U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 non-exempt recipients prior to a payment being made. When is the last day to file taxes 2012 Pooled withholding information. When is the last day to file taxes 2012   If an NQI uses the alternative procedure, it must provide you with withholding rate pool information, as opposed to individual allocation information, prior to the payment of a reportable amount. When is the last day to file taxes 2012 A withholding rate pool is a payment of a single type of income (as determined by the income categories on Form 1042-S) that is subject to a single rate of withholding. When is the last day to file taxes 2012 For example, an NQI that has foreign account holders receiving royalties and dividends, both subject to the 15% rate, will provide you with information for two withholding rate pools (one for royalties and one for dividends). When is the last day to file taxes 2012 The NQI must provide you with the payee specific allocation information (information allocating each payment to each payee) by January 31 following the calendar year of payment. When is the last day to file taxes 2012 Failure to provide allocation information. When is the last day to file taxes 2012   If an NQI fails to provide you with the payee specific allocation information for a withholding rate pool by January 31, you must not apply the alternative procedure to any of the NQI's withholding rate pools from that date forward. When is the last day to file taxes 2012 You must treat the payees as undocumented and apply the presumption rules, discussed later in Presumption Rules . When is the last day to file taxes 2012 An NQI is deemed to have f
Español

Center for the Study of Services (CSS)

CSS publishes Consumers CHECKBOOK so that consumers can evaluate the quality and prices of service firms and stores in their local area.

Contact the Agency or Department

Website: Center for the Study of Services (CSS)

Address: 1625 K St., NW, 8th Floor
Washington, DC 20006

Toll-free: 1-800-213-7283

The When Is The Last Day To File Taxes 2012

When is the last day to file taxes 2012 6. When is the last day to file taxes 2012   Basis of Assets Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Cost BasisReal Property Allocating the Basis Uniform Capitalization Rules Adjusted BasisIncreases to Basis Decreases to Basis Basis Other Than CostTaxable Exchanges Involuntary Conversions Nontaxable Exchanges Property Received as a Gift Property Transferred From a Spouse Inherited Property Property Distributed From a Partnership or Corporation Introduction Your basis is the amount of your investment in property for tax purposes. When is the last day to file taxes 2012 Use basis to figure the gain or loss on the sale, exchange, or other disposition of property. When is the last day to file taxes 2012 Also use basis to figure depreciation, amortization, depletion, and casualty losses. When is the last day to file taxes 2012 If you use property for both business or investment purposes and for personal purposes, you must allocate the basis based on the use. When is the last day to file taxes 2012 Only the basis allocated to the business or investment use of the property can be depreciated. When is the last day to file taxes 2012 Your original basis in property is adjusted (increased or decreased) by certain events. When is the last day to file taxes 2012 For example, if you make improvements to the property, increase your basis. When is the last day to file taxes 2012 If you take deductions for depreciation, or casualty losses, or claim certain credits, reduce your basis. When is the last day to file taxes 2012 Keep accurate records of all items that affect the basis of your assets. When is the last day to file taxes 2012 For information on keeping records, see chapter 1. When is the last day to file taxes 2012 Topics - This chapter discusses: Cost basis Adjusted basis Basis other than cost Useful Items - You may want to see: Publication 535 Business Expenses 544 Sales and Other Dispositions of Assets 551 Basis of Assets 946 How To Depreciate Property See chapter 16 for information about getting publications and forms. When is the last day to file taxes 2012 Cost Basis The basis of property you buy is usually its cost. When is the last day to file taxes 2012 Cost is the amount you pay in cash, debt obligations, other property, or services. When is the last day to file taxes 2012 Your cost includes amounts you pay for sales tax, freight, installation, and testing. When is the last day to file taxes 2012 The basis of real estate and business assets will include other items, discussed later. When is the last day to file taxes 2012 Basis generally does not include interest payments. When is the last day to file taxes 2012 However, see Carrying charges and Capitalized interest in chapter 4 of Publication 535. When is the last day to file taxes 2012 You also may have to capitalize (add to basis) certain other costs related to buying or producing property. When is the last day to file taxes 2012 Under the uniform capitalization rules, discussed later, you may have to capitalize direct costs and certain indirect costs of producing property. When is the last day to file taxes 2012 Loans with low or no interest. When is the last day to file taxes 2012   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price minus the amount considered to be unstated interest. When is the last day to file taxes 2012 You generally have unstated interest if your interest rate is less than the applicable federal rate. When is the last day to file taxes 2012 See the discussion of unstated interest in Publication 537, Installment Sales. When is the last day to file taxes 2012 Real Property Real property, also called real estate, is land and generally anything built on, growing on, or attached to land. When is the last day to file taxes 2012 If you buy real property, certain fees and other expenses you pay are part of your cost basis in the property. When is the last day to file taxes 2012 Some of these expenses are discussed next. When is the last day to file taxes 2012 Lump sum purchase. When is the last day to file taxes 2012   If you buy improvements, such as buildings, and the land on which they stand for a lump sum, allocate your cost basis between the land and improvements. When is the last day to file taxes 2012 Allocate the cost basis according to the respective fair market values (FMVs) of the land and improvements at the time of purchase. When is the last day to file taxes 2012 Figure the basis of each asset by multiplying the lump sum by a fraction. When is the last day to file taxes 2012 The numerator is the FMV of that asset and the denominator is the FMV of the whole property at the time of purchase. When is the last day to file taxes 2012 Fair market value (FMV). When is the last day to file taxes 2012   FMV is the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. When is the last day to file taxes 2012 Sales of similar property on or about the same date may help in figuring the FMV of the property. When is the last day to file taxes 2012 If you are not certain of the FMV of the land and improvements, you can allocate the basis according to their assessed values for real estate tax purposes. When is the last day to file taxes 2012 Real estate taxes. When is the last day to file taxes 2012   If you pay the real estate taxes the seller owed on real property you bought, and the seller did not reimburse you, treat those taxes as part of your basis. When is the last day to file taxes 2012   If you reimburse the seller for taxes the seller paid for you, you generally can deduct that amount as a tax expense. When is the last day to file taxes 2012 Whether or not you reimburse the seller, do not include that amount in the basis of your property. When is the last day to file taxes 2012 Settlement costs. When is the last day to file taxes 2012   Your basis includes the settlement fees and closing costs for buying the property. When is the last day to file taxes 2012 See Publication 551 for a detailed list of items you can and cannot include in basis. When is the last day to file taxes 2012   Do not include fees and costs for getting a loan on the property. When is the last day to file taxes 2012 Also, do not include amounts placed in escrow for the future payment of items such as taxes and insurance. When is the last day to file taxes 2012 Points. When is the last day to file taxes 2012   If you pay points to get a loan (including a mortgage, second mortgage, or line-of-credit), do not add the points to the basis of the related property. When is the last day to file taxes 2012 You may be able to deduct the points currently or over the term of the loan. When is the last day to file taxes 2012 For more information about deducting points, see Points in chapter 4 of Publication 535. When is the last day to file taxes 2012 Assumption of a mortgage. When is the last day to file taxes 2012   If you buy property and assume (or buy the property subject to) an existing mortgage, your basis includes the amount you pay for the property plus the amount you owe on the mortgage. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 If you buy a farm for $100,000 cash and assume a mortgage of $400,000, your basis is $500,000. When is the last day to file taxes 2012 Constructing assets. When is the last day to file taxes 2012   If you build property or have assets built for you, your expenses for this construction are part of your basis. When is the last day to file taxes 2012 Some of these expenses include the following costs: Land, Labor and materials, Architect's fees, Building permit charges, Payments to contractors, Payments for rental equipment, and Inspection fees. When is the last day to file taxes 2012   In addition, if you use your own employees, farm materials, and equipment to build an asset, do not deduct the following expenses. When is the last day to file taxes 2012 You must capitalize them (include them in the asset's basis). When is the last day to file taxes 2012 Employee wages paid for the construction work, reduced by any employment credits allowed. When is the last day to file taxes 2012 Depreciation on equipment you own while it is used in the construction. When is the last day to file taxes 2012 Operating and maintenance costs for equipment used in the construction. When is the last day to file taxes 2012 The cost of business supplies and materials used in the construction. When is the last day to file taxes 2012    Do not include the value of your own labor, or any other labor you did not pay for, in the basis of any property you construct. When is the last day to file taxes 2012 Allocating the Basis In some instances, the rules for determining basis apply to a group of assets acquired in the same transaction or to property that consists of separate items. When is the last day to file taxes 2012 To determine the basis of these assets or separate items, there must be an allocation of basis. When is the last day to file taxes 2012 Group of assets acquired. When is the last day to file taxes 2012   If you buy multiple assets for a lump sum, allocate the amount you pay among the assets. When is the last day to file taxes 2012 Use this allocation to figure your basis for depreciation and gain or loss on a later disposition of any of these assets. When is the last day to file taxes 2012 You and the seller may agree in the sales contract to a specific allocation of the purchase price among the assets. When is the last day to file taxes 2012 If this allocation is based on the value of each asset and you and the seller have adverse tax interests, the allocation generally will be accepted. When is the last day to file taxes 2012 Farming business acquired. When is the last day to file taxes 2012   If you buy a group of assets that makes up a farming business, there are special rules you must use to allocate the purchase price among the assets. When is the last day to file taxes 2012 Generally, reduce the purchase price by any cash received. When is the last day to file taxes 2012 Allocate the remaining purchase price to the other business assets received in proportion to (but not more than) their FMV and in a certain order. When is the last day to file taxes 2012 See Trade or Business Acquired under Allocating the Basis in Publication 551 for more information. When is the last day to file taxes 2012 Transplanted embryo. When is the last day to file taxes 2012   If you buy a cow that is pregnant with a transplanted embryo, allocate to the basis of the cow the part of the purchase price equal to the FMV of the cow without the implant. When is the last day to file taxes 2012 Allocate the rest of the purchase price to the basis of the calf. When is the last day to file taxes 2012 Neither the cost allocated to the cow nor the cost allocated to the calf is deductible as a current business expense. When is the last day to file taxes 2012 Uniform Capitalization Rules Under the uniform capitalization rules, you must include certain direct and indirect costs in the basis of property you produce or in your inventory costs, rather than claim them as a current deduction. When is the last day to file taxes 2012 You recover these costs through depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. When is the last day to file taxes 2012 Generally, you are subject to the uniform capitalization rules if you do any of the following: Produce real or tangible personal property, or Acquire property for resale. When is the last day to file taxes 2012 However, this rule does not apply to personal property if your average annual gross receipts for the 3-tax-year period ending with the year preceding the current tax year are $10 million or less. When is the last day to file taxes 2012 You produce property if you construct, build, install, manufacture, develop, improve, or create the property. When is the last day to file taxes 2012 You are not subject to the uniform capitalization rules if the property is produced for personal use. When is the last day to file taxes 2012 In a farming business, you produce property if you raise or grow any agricultural or horticultural commodity, including plants and animals. When is the last day to file taxes 2012 Plants. When is the last day to file taxes 2012   A plant produced in a farming business includes the following items: A fruit, nut, or other crop-bearing tree; An ornamental tree; A vine; A bush; Sod; and The crop or yield of a plant that will have more than one crop or yield. When is the last day to file taxes 2012 Animals. When is the last day to file taxes 2012   An animal produced in a farming business includes any stock, poultry or other bird, and fish or other sea life. When is the last day to file taxes 2012 The direct and indirect costs of producing plants or animals include preparatory costs and preproductive period costs. When is the last day to file taxes 2012 Preparatory costs include the acquisition costs of the seed, seedling, plant, or animal. When is the last day to file taxes 2012 For plants, preproductive period costs include the costs of items such as irrigation, pruning, frost protection, spraying, and harvesting. When is the last day to file taxes 2012 For animals, preproductive period costs include the costs of items such as feed, maintaining pasture or pen areas, breeding, veterinary services, and bedding. When is the last day to file taxes 2012 Exceptions. When is the last day to file taxes 2012   In a farming business, the uniform capitalization rules do not apply to: Any animal, Any plant with a preproductive period of 2 years or less, or Any costs of replanting certain plants lost or damaged due to casualty. When is the last day to file taxes 2012   Exceptions (1) and (2) do not apply to a corporation, partnership, or tax shelter required to use an accrual method of accounting. When is the last day to file taxes 2012 See Accrual Method Required under Accounting Methods in chapter 2. When is the last day to file taxes 2012   In addition, you can elect not to use the uniform capitalization rules for plants with a preproductive period of more than 2 years. When is the last day to file taxes 2012 If you make this election, special rules apply. When is the last day to file taxes 2012 This election cannot be made by a corporation, partnership, or tax shelter required to use an accrual method of accounting. When is the last day to file taxes 2012 This election also does not apply to any costs incurred for the planting, cultivation, maintenance, or development of any citrus or almond grove (or any part thereof) within the first 4 years the trees were planted. When is the last day to file taxes 2012    If you elect not to use the uniform capitalization rules, you must use the alternative depreciation system for all property used in any of your farming businesses and placed in service in any tax year during which the election is in effect. When is the last day to file taxes 2012 See chapter 7, for additional information on depreciation. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You grow trees that have a preproductive period of more than 2 years. When is the last day to file taxes 2012 The trees produce an annual crop. When is the last day to file taxes 2012 You are an individual and the uniform capitalization rules apply to your farming business. When is the last day to file taxes 2012 You must capitalize the direct costs and an allocable part of indirect costs incurred due to the production of the trees. When is the last day to file taxes 2012 You are not required to capitalize the costs of producing the annual crop because its preproductive period is 2 years or less. When is the last day to file taxes 2012 Preproductive period of more than 2 years. When is the last day to file taxes 2012   The preproductive period of plants grown in commercial quantities in the United States is based on their nationwide weighted average preproductive period. When is the last day to file taxes 2012 Plants producing the crops or yields shown in Table 6-1 have a nationwide weighted average preproductive period of more than 2 years. When is the last day to file taxes 2012 Other plants (not shown in Table 6-1) may also have a nationwide weighted average preproductive period of more than 2 years. When is the last day to file taxes 2012 More information. When is the last day to file taxes 2012   For more information on the uniform capitalization rules that apply to property produced in a farming business, see Regulations section 1. When is the last day to file taxes 2012 263A-4. When is the last day to file taxes 2012 Table 6-1. When is the last day to file taxes 2012 Plants With a Preproductive Period of More Than 2 Years Plants producing the following crops or yields have a nationwide weighted average preproductive period of more than 2 years. When is the last day to file taxes 2012 Almonds Apples Apricots Avocados Blueberries Cherries Chestnuts Coffee beans Currants Dates Figs Grapefruit Grapes Guavas Kiwifruit Kumquats Lemons Limes Macadamia nuts Mangoes Nectarines Olives Oranges Peaches Pears Pecans Persimmons Pistachio nuts Plums Pomegranates Prunes Tangelos Tangerines Tangors Walnuts Adjusted Basis Before figuring gain or loss on a sale, exchange, or other disposition of property or figuring allowable depreciation, depletion, or amortization, you must usually make certain adjustments to the cost basis or basis other than cost (discussed later) of the property. When is the last day to file taxes 2012 The adjustments to the original basis are increases or decreases to the cost basis or other basis which result in the adjusted basis of the property. When is the last day to file taxes 2012 Increases to Basis Increase the basis of any property by all items properly added to a capital account. When is the last day to file taxes 2012 These include the cost of any improvements having a useful life of more than 1 year. When is the last day to file taxes 2012 The following costs increase the basis of property. When is the last day to file taxes 2012 The cost of extending utility service lines to property. When is the last day to file taxes 2012 Legal fees, such as the cost of defending and perfecting title. When is the last day to file taxes 2012 Legal fees for seeking a decrease in an assessment levied against property to pay for local improvements. When is the last day to file taxes 2012 Assessments for items such as paving roads and building ditches that increase the value of the property assessed. When is the last day to file taxes 2012 Do not deduct these expenses as taxes. When is the last day to file taxes 2012 However, you can deduct as taxes amounts assessed for maintenance or repairs, or for meeting interest charges related to the improvements. When is the last day to file taxes 2012 If you make additions or improvements to business property, depreciate the basis of each addition or improvement as separate depreciable property using the rules that would apply to the original property if you had placed it in service at the same time you placed the addition or improvement in service. When is the last day to file taxes 2012 See chapter 7. When is the last day to file taxes 2012 Deducting vs. When is the last day to file taxes 2012 capitalizing costs. When is the last day to file taxes 2012   Do not add to your basis costs you can deduct as current expenses. When is the last day to file taxes 2012 For example, amounts paid for incidental repairs or maintenance are deductible as business expenses and are not added to basis. When is the last day to file taxes 2012 However, you can elect either to deduct or to capitalize certain other costs. When is the last day to file taxes 2012 See chapter 7 in Publication 535. When is the last day to file taxes 2012 Decreases to Basis The following are some items that reduce the basis of property. When is the last day to file taxes 2012 Section 179 deduction. When is the last day to file taxes 2012 Deductions previously allowed or allowable for amortization, depreciation, and depletion. When is the last day to file taxes 2012 Alternative motor vehicle credit. When is the last day to file taxes 2012 See Form 8910. When is the last day to file taxes 2012 Alternative fuel vehicle refueling property credit. When is the last day to file taxes 2012 See Form 8911. When is the last day to file taxes 2012 Residential energy efficient property credits. When is the last day to file taxes 2012 See Form 5695. When is the last day to file taxes 2012 Investment credit (part or all) taken. When is the last day to file taxes 2012 Casualty and theft losses and insurance reimbursements. When is the last day to file taxes 2012 Payments you receive for granting an easement. When is the last day to file taxes 2012 Exclusion from income of subsidies for energy conservation measures. When is the last day to file taxes 2012 Certain canceled debt excluded from income. When is the last day to file taxes 2012 Rebates from a manufacturer or seller. When is the last day to file taxes 2012 Patronage dividends received from a cooperative association as a result of a purchase of property. When is the last day to file taxes 2012 See Patronage Dividends in chapter 3. When is the last day to file taxes 2012 Gas-guzzler tax. When is the last day to file taxes 2012 See Form 6197. When is the last day to file taxes 2012 Some of these items are discussed next. When is the last day to file taxes 2012 For a more detailed list of items that decrease basis, see section 1016 of the Internal Revenue Code and Publication 551. When is the last day to file taxes 2012 Depreciation and section 179 deduction. When is the last day to file taxes 2012   The adjustments you must make to the basis of the property if you take the section 179 deduction or depreciate the property are explained next. When is the last day to file taxes 2012 For more information on these deductions, see chapter 7. When is the last day to file taxes 2012 Section 179 deduction. When is the last day to file taxes 2012   If you take the section 179 expense deduction for all or part of the cost of qualifying business property, decrease the basis of the property by the deduction. When is the last day to file taxes 2012 Depreciation. When is the last day to file taxes 2012   Decrease the basis of property by the depreciation you deducted or could have deducted on your tax returns under the method of depreciation you chose. When is the last day to file taxes 2012 If you took less depreciation than you could have under the method chosen, decrease the basis by the amount you could have taken under that method. When is the last day to file taxes 2012 If you did not take a depreciation deduction, reduce the basis by the full amount of the depreciation you could have taken. When is the last day to file taxes 2012   If you deducted more depreciation than you should have, decrease your basis by the amount you should have deducted plus the part of the excess depreciation you deducted that actually reduced your tax liability for any year. When is the last day to file taxes 2012   See chapter 7 for information on figuring the depreciation you should have claimed. When is the last day to file taxes 2012   In decreasing your basis for depreciation, take into account the amount deducted on your tax returns as depreciation and any depreciation you must capitalize under the uniform capitalization rules. When is the last day to file taxes 2012 Casualty and theft losses. When is the last day to file taxes 2012   If you have a casualty or theft loss, decrease the basis of the property by any insurance or other reimbursement. When is the last day to file taxes 2012 Also, decrease it by any deductible loss not covered by insurance. When is the last day to file taxes 2012 See chapter 11 for information about figuring your casualty or theft loss. When is the last day to file taxes 2012   You must increase your basis in the property by the amount you spend on clean-up costs (such as debris removal) and repairs that restore the property to its pre-casualty condition. When is the last day to file taxes 2012 To make this determination, compare the repaired property to the property before the casualty. When is the last day to file taxes 2012 Easements. When is the last day to file taxes 2012   The amount you receive for granting an easement is usually considered to be proceeds from the sale of an interest in the real property. When is the last day to file taxes 2012 It reduces the basis of the affected part of the property. When is the last day to file taxes 2012 If the amount received is more than the basis of the part of the property affected by the easement, reduce your basis in that part to zero and treat the excess as a recognized gain. When is the last day to file taxes 2012 See Easements and rights-of-way in chapter 3. When is the last day to file taxes 2012 Exclusion from income of subsidies for energy conservation measures. When is the last day to file taxes 2012   You can exclude from gross income any subsidy you received from a public utility company for the purchase or installation of an energy conservation measure for a dwelling unit. When is the last day to file taxes 2012 Reduce the basis of the property by the excluded amount. When is the last day to file taxes 2012 Canceled debt excluded from income. When is the last day to file taxes 2012   If a debt you owe is canceled or forgiven, other than as a gift or bequest, you generally must include the canceled amount in your gross income for tax purposes. When is the last day to file taxes 2012 A debt includes any indebtedness for which you are liable or which attaches to property you hold. When is the last day to file taxes 2012   You can exclude your canceled debt from income if the debt is any of the following. When is the last day to file taxes 2012 Debt canceled in a bankruptcy case or when you are insolvent. When is the last day to file taxes 2012 Qualified farm debt. When is the last day to file taxes 2012 Qualified real property business debt (provided you are not a C corporation). When is the last day to file taxes 2012 Qualified principal residence indebtedness. When is the last day to file taxes 2012 Discharge of certain indebtedness of a qualified individual because of Midwestern disasters. When is the last day to file taxes 2012 If you exclude canceled debt described in (1) or (2), you may have to reduce the basis of your depreciable and nondepreciable property. When is the last day to file taxes 2012 If you exclude canceled debt described in (3), you must only reduce the basis of your depreciable property by the excluded amount. When is the last day to file taxes 2012   For more information about canceled debt in a bankruptcy case, see Publication 908, Bankruptcy Tax Guide. When is the last day to file taxes 2012 For more information about insolvency and canceled debt that is qualified farm debt or qualified principal residence indebtedness, see chapter 3. When is the last day to file taxes 2012 For more information about qualified real property business debt, see Publication 334, Tax Guide for Small Business. When is the last day to file taxes 2012 For more information about canceled debt in Midwestern disaster areas, see Publication 4492-B, Information for Affected Taxpayers in the Midwestern Disaster Areas. When is the last day to file taxes 2012 Basis Other Than Cost There are times when you cannot use cost as basis. When is the last day to file taxes 2012 In these situations, the fair market value or the adjusted basis of property may be used. When is the last day to file taxes 2012 Examples are discussed next. When is the last day to file taxes 2012 Property changed from personal to business or rental use. When is the last day to file taxes 2012   When you hold property for personal use and then change it to business use or use it to produce rent, you must figure its basis for depreciation. When is the last day to file taxes 2012 An example of changing property from personal to business use would be changing the use of your pickup truck that you originally purchased for your personal use to use in your farming business. When is the last day to file taxes 2012   The basis for depreciation is the lesser of: The FMV of the property on the date of the change, or Your adjusted basis on the date of the change. When is the last day to file taxes 2012   If you later sell or dispose of this property, the basis you use will depend on whether you are figuring a gain or loss. When is the last day to file taxes 2012 The basis for figuring a gain is your adjusted basis in the property when you sell the property. When is the last day to file taxes 2012 Figure the basis for a loss starting with the smaller of your adjusted basis or the FMV of the property at the time of the change to business or rental use. When is the last day to file taxes 2012 Then make adjustments (increases and decreases) for the period after the change in the property's use, as discussed earlier under Adjusted Basis . When is the last day to file taxes 2012 Property received for services. When is the last day to file taxes 2012   If you receive property for services, include the property's FMV in income. When is the last day to file taxes 2012 The amount you include in income becomes your basis. When is the last day to file taxes 2012 If the services were performed for a price agreed on beforehand, it will be accepted as the FMV of the property if there is no evidence to the contrary. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 George Smith is an accountant and also operates a farming business. When is the last day to file taxes 2012 George agreed to do some accounting work for his neighbor in exchange for a dairy cow. When is the last day to file taxes 2012 The accounting work and the cow are each worth $1,500. When is the last day to file taxes 2012 George must include $1,500 in income for his accounting services. When is the last day to file taxes 2012 George's basis in the cow is $1,500. When is the last day to file taxes 2012 Taxable Exchanges A taxable exchange is one in which the gain is taxable, or the loss is deductible. When is the last day to file taxes 2012 A taxable gain or deductible loss also is known as a recognized gain or loss. When is the last day to file taxes 2012 A taxable exchange occurs when you receive cash or get property that is not similar or related in use to the property exchanged. When is the last day to file taxes 2012 If you receive property in exchange for other property in a taxable exchange, the basis of the property you receive is usually its FMV at the time of the exchange. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You trade a tract of farmland with an adjusted basis of $2,000 for a tractor that has an FMV of $6,000. When is the last day to file taxes 2012 You must report a taxable gain of $4,000 for the land. When is the last day to file taxes 2012 The tractor has a basis of $6,000. When is the last day to file taxes 2012 Involuntary Conversions If you receive property as a result of an involuntary conversion, such as a casualty, theft, or condemnation, figure the basis of the replacement property you receive using the basis of the converted property. When is the last day to file taxes 2012 Similar or related property. When is the last day to file taxes 2012   If the replacement property is similar or related in service or use to the converted property, the replacement property's basis is the same as the old property's basis on the date of the conversion. When is the last day to file taxes 2012 However, make the following adjustments. When is the last day to file taxes 2012 Decrease the basis by the following amounts. When is the last day to file taxes 2012 Any loss you recognize on the involuntary conversion. When is the last day to file taxes 2012 Any money you receive that you do not spend on similar property. When is the last day to file taxes 2012 Increase the basis by the following amounts. When is the last day to file taxes 2012 Any gain you recognize on the involuntary conversion. When is the last day to file taxes 2012 Any cost of acquiring the replacement property. When is the last day to file taxes 2012 Money or property not similar or related. When is the last day to file taxes 2012   If you receive money or property not similar or related in service or use to the converted property and you buy replacement property similar or related in service or use to the converted property, the basis of the replacement property is its cost decreased by the gain not recognized on the involuntary conversion. When is the last day to file taxes 2012 Allocating the basis. When is the last day to file taxes 2012   If you buy more than one piece of replacement property, allocate your basis among the properties based on their respective costs. When is the last day to file taxes 2012 Basis for depreciation. When is the last day to file taxes 2012   Special rules apply in determining and depreciating the basis of MACRS property acquired in an involuntary conversion. When is the last day to file taxes 2012 For information, see Figuring the Deduction for Property Acquired in a Nontaxable Exchange under Figuring Depreciation Under MACRS in chapter 7. When is the last day to file taxes 2012 For more information about involuntary conversions, see chapter 11. When is the last day to file taxes 2012 Nontaxable Exchanges A nontaxable exchange is an exchange in which you are not taxed on any gain and you cannot deduct any loss. When is the last day to file taxes 2012 A nontaxable gain or loss also is known as an unrecognized gain or loss. When is the last day to file taxes 2012 If you receive property in a nontaxable exchange, its basis is usually the same as the basis of the property you transferred. When is the last day to file taxes 2012 Like-Kind Exchanges The exchange of property for the same kind of property is the most common type of nontaxable exchange. When is the last day to file taxes 2012 For an exchange to qualify as a like-kind exchange, you must hold for business or investment purposes both the property you transfer and the property you receive. When is the last day to file taxes 2012 There must also be an exchange of like-kind property. When is the last day to file taxes 2012 For more information, see Like-Kind Exchanges in  chapter 8. When is the last day to file taxes 2012 The basis of the property you receive generally is the same as the adjusted basis of the property you gave up. When is the last day to file taxes 2012 Example 1. When is the last day to file taxes 2012 You traded a truck you used in your farming business for a new smaller truck to use in farming. When is the last day to file taxes 2012 The adjusted basis of the old truck was $10,000. When is the last day to file taxes 2012 The FMV of the new truck is $30,000. When is the last day to file taxes 2012 Because this is a nontaxable exchange, you do not recognize any gain, and your basis in the new truck is $10,000, the same as the adjusted basis of the truck you traded. When is the last day to file taxes 2012 Example 2. When is the last day to file taxes 2012 You trade a field cultivator (adjusted basis of $8,000) for a planter (FMV of $9,000). When is the last day to file taxes 2012 You use both the field cultivator and the planter in your farming business. When is the last day to file taxes 2012 The basis of the planter you receive is $8,000, the same as the field cultivator traded Exchange expenses. When is the last day to file taxes 2012   Exchange expenses generally are the closing costs that you pay. When is the last day to file taxes 2012 They include such items as brokerage commissions, attorney fees, and deed preparation fees. When is the last day to file taxes 2012 Add them to the basis of the like-kind property you receive. When is the last day to file taxes 2012 Property plus cash. When is the last day to file taxes 2012   If you trade property in a like-kind exchange and also pay money, the basis of the property you receive is the adjusted basis of the property you gave up plus the money you paid. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You trade in a truck (adjusted basis of $3,000) for another truck (FMV of $7,500) and pay $4,000. When is the last day to file taxes 2012 Your basis in the new truck is $7,000 (the $3,000 adjusted basis of the old truck plus the $4,000 cash). When is the last day to file taxes 2012 Special rules for related persons. When is the last day to file taxes 2012   If a like-kind exchange takes place directly or indirectly between related persons and either party disposes of the property within 2 years after the exchange, the exchange no longer qualifies for like-kind exchange treatment. When is the last day to file taxes 2012 Each person must report any gain or loss not recognized on the original exchange unless the loss is not deductible under the related party rules. When is the last day to file taxes 2012 Each person reports it on the tax return filed for the year in which the later disposition occurred. When is the last day to file taxes 2012 If this rule applies, the basis of the property received in the original exchange will be its FMV. When is the last day to file taxes 2012 For more information, see chapter 8. When is the last day to file taxes 2012 Exchange of business property. When is the last day to file taxes 2012   Exchanging the property of one business for the property of another business generally is a multiple property exchange. When is the last day to file taxes 2012 For information on figuring basis, see Multiple Property Exchanges in chapter 1 of Publication 544. When is the last day to file taxes 2012 Basis for depreciation. When is the last day to file taxes 2012   Special rules apply in determining and depreciating the basis of MACRS property acquired in a like-kind transaction. When is the last day to file taxes 2012 For information, see Figuring the Deduction for Property Acquired in a Nontaxable Exchange under Figuring Depreciation Under MACRS in chapter 7. When is the last day to file taxes 2012 Partially Nontaxable Exchanges A partially nontaxable exchange is an exchange in which you receive unlike property or money in addition to like-kind property. When is the last day to file taxes 2012 The basis of the property you receive is the same as the adjusted basis of the property you gave up with the following adjustments. When is the last day to file taxes 2012 Decrease the basis by the following amounts. When is the last day to file taxes 2012 Any money you receive. When is the last day to file taxes 2012 Any loss you recognize on the exchange. When is the last day to file taxes 2012 Increase the basis by the following amounts. When is the last day to file taxes 2012 Any additional costs you incur. When is the last day to file taxes 2012 Any gain you recognize on the exchange. When is the last day to file taxes 2012 If the other party to the exchange assumes your liabilities, treat the debt assumption as money you received in the exchange. When is the last day to file taxes 2012 Example 1. When is the last day to file taxes 2012 You trade farmland (basis of $100,000) for another tract of farmland (FMV of $110,000) and $30,000 cash. When is the last day to file taxes 2012 You realize a gain of $40,000. When is the last day to file taxes 2012 This is the FMV of the land received plus the cash minus the basis of the land you traded ($110,000 + $30,000 − $100,000). When is the last day to file taxes 2012 Include your gain in income (recognize gain) only to the extent of the cash received. When is the last day to file taxes 2012 Your basis in the land you received is figured as follows. When is the last day to file taxes 2012 Basis of land traded $100,000 Minus: Cash received (adjustment 1(a)) − 30,000   $70,000 Plus: Gain recognized (adjustment 2(b)) + 30,000 Basis of land received $100,000 Example 2. When is the last day to file taxes 2012 You trade a truck (adjusted basis of $22,750) for another truck (FMV of $20,000) and $10,000 cash. When is the last day to file taxes 2012 You realize a gain of $7,250. When is the last day to file taxes 2012 This is the FMV of the truck received plus the cash minus the adjusted basis of the truck you traded ($20,000 + $10,000 − $22,750). When is the last day to file taxes 2012 You include all the gain in your income (recognize gain) because the gain is less than the cash you received. When is the last day to file taxes 2012 Your basis in the truck you received is figured as follows. When is the last day to file taxes 2012 Adjusted basis of truck traded $22,750 Minus: Cash received (adjustment 1(a)) −10,000   $12,750 Plus: Gain recognized (adjustment 2(b)) + 7,250 Basis of truck received $20,000 Allocation of basis. When is the last day to file taxes 2012   If you receive like-kind and unlike properties in the exchange, allocate the basis first to the unlike property, other than money, up to its FMV on the date of the exchange. When is the last day to file taxes 2012 The rest is the basis of the like-kind property. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You traded a tractor with an adjusted basis of $15,000 for another tractor that had an FMV of $12,500. When is the last day to file taxes 2012 You also received $1,000 cash and a truck that had an FMV of $3,000. When is the last day to file taxes 2012 The truck is unlike property. When is the last day to file taxes 2012 You realized a gain of $1,500. When is the last day to file taxes 2012 This is the FMV of the tractor received plus the FMV of the truck received plus the cash minus the adjusted basis of the tractor you traded ($12,500 + $3,000 + $1,000 − $15,000). When is the last day to file taxes 2012 You include in income (recognize) all $1,500 of the gain because it is less than the FMV of the unlike property plus the cash received. When is the last day to file taxes 2012 Your basis in the properties you received is figured as follows. When is the last day to file taxes 2012 Adjusted basis of old tractor $15,000 Minus: Cash received (adjustment 1(a)) − 1,000   $14,000 Plus: Gain recognized (adjustment 2(b)) + 1,500 Total basis of properties received $15,500 Allocate the total basis of $15,500 first to the unlike property—the truck ($3,000). When is the last day to file taxes 2012 This is the truck's FMV. When is the last day to file taxes 2012 The rest ($12,500) is the basis of the tractor. When is the last day to file taxes 2012 Sale and Purchase If you sell property and buy similar property in two mutually dependent transactions, you may have to treat the sale and purchase as a single nontaxable exchange. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You used a tractor on your farm for 3 years. When is the last day to file taxes 2012 Its adjusted basis is $22,000 and its FMV is $40,000. When is the last day to file taxes 2012 You are interested in a new tractor, which sells for $60,000. When is the last day to file taxes 2012 Ordinarily, you would trade your old tractor for the new one and pay the dealer $20,000. When is the last day to file taxes 2012 Your basis for depreciating the new tractor would then be $42,000 ($20,000 + $22,000, the adjusted basis of your old tractor). When is the last day to file taxes 2012 However, you want a higher basis for depreciating the new tractor, so you agree to pay the dealer $60,000 for the new tractor if he will pay you $40,000 for your old tractor. When is the last day to file taxes 2012 Because the two transactions are dependent on each other, you are treated as having exchanged your old tractor for the new one and paid $20,000 ($60,000 − $40,000). When is the last day to file taxes 2012 Your basis for depreciating the new tractor is $42,000, the same as if you traded the old tractor. When is the last day to file taxes 2012 Property Received as a Gift To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor just before it was given to you. When is the last day to file taxes 2012 You also must know its FMV at the time it was given to you and any gift tax paid on it. When is the last day to file taxes 2012 FMV equal to or greater than donor's adjusted basis. When is the last day to file taxes 2012   If the FMV of the property is equal to or greater than the donor's adjusted basis, your basis is the donor's adjusted basis when you received the gift. When is the last day to file taxes 2012 Increase your basis by all or part of any gift tax paid, depending on the date of the gift. When is the last day to file taxes 2012   Also, for figuring gain or loss from a sale or other disposition of the property, or for figuring depreciation, depletion, or amortization deductions on business property, you must increase or decrease your basis (the donor's adjusted basis) by any required adjustments to basis while you held the property. When is the last day to file taxes 2012 See Adjusted Basis , earlier. When is the last day to file taxes 2012   If you received a gift during the tax year, increase your basis in the gift (the donor's adjusted basis) by the part of the gift tax paid on it due to the net increase in value of the gift. When is the last day to file taxes 2012 Figure the increase by multiplying the gift tax paid by the following fraction. When is the last day to file taxes 2012 Net increase in value of the gift Amount of the gift   The net increase in value of the gift is the FMV of the gift minus the donor's adjusted basis. When is the last day to file taxes 2012 The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 In 2013, you received a gift of property from your mother that had an FMV of $50,000. When is the last day to file taxes 2012 Her adjusted basis was $20,000. When is the last day to file taxes 2012 The amount of the gift for gift tax purposes was $36,000 ($50,000 minus the $14,000 annual exclusion). When is the last day to file taxes 2012 She paid a gift tax of $7,320. When is the last day to file taxes 2012 Your basis, $26,076, is figured as follows. When is the last day to file taxes 2012 Fair market value $50,000 Minus: Adjusted basis −20,000 Net increase in value $30,000 Gift tax paid $7,320 Multiplied by ($30,000 ÷ $36,000) × . When is the last day to file taxes 2012 83 Gift tax due to net increase in value $6,076 Adjusted basis of property to your mother +20,000 Your basis in the property $26,076 Note. When is the last day to file taxes 2012 If you received a gift before 1977, your basis in the gift (the donor's adjusted basis) includes any gift tax paid on it. When is the last day to file taxes 2012 However, your basis cannot exceed the FMV of the gift when it was given to you. When is the last day to file taxes 2012 FMV less than donor's adjusted basis. When is the last day to file taxes 2012   If the FMV of the property at the time of the gift is less than the donor's adjusted basis, your basis depends on whether you have a gain or a loss when you dispose of the property. When is the last day to file taxes 2012 Your basis for figuring gain is the donor's adjusted basis plus or minus any required adjustments to basis while you held the property. When is the last day to file taxes 2012 Your basis for figuring loss is its FMV when you received the gift plus or minus any required adjustments to basis while you held the property. When is the last day to file taxes 2012 (See Adjusted Basis , earlier. When is the last day to file taxes 2012 )   If you use the donor's adjusted basis for figuring a gain and get a loss, and then use the FMV for figuring a loss and get a gain, you have neither gain nor loss on the sale or other disposition of the property. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 You received farmland as a gift from your parents when they retired from farming. When is the last day to file taxes 2012 At the time of the gift, the land had an FMV of $80,000. When is the last day to file taxes 2012 Your parents' adjusted basis was $100,000. When is the last day to file taxes 2012 After you received the land, no events occurred that would increase or decrease your basis. When is the last day to file taxes 2012 If you sell the land for $120,000, you will have a $20,000 gain because you must use the donor's adjusted basis at the time of the gift ($100,000) as your basis to figure a gain. When is the last day to file taxes 2012 If you sell the land for $70,000, you will have a $10,000 loss because you must use the FMV at the time of the gift ($80,000) as your basis to figure a loss. When is the last day to file taxes 2012 If the sales price is between $80,000 and $100,000, you have neither gain nor loss. When is the last day to file taxes 2012 For instance, if the sales price was $90,000 and you tried to figure a gain using the donor's adjusted basis ($100,000), you would get a $10,000 loss. When is the last day to file taxes 2012 If you then tried to figure a loss using the FMV ($80,000), you would get a $10,000 gain. When is the last day to file taxes 2012 Business property. When is the last day to file taxes 2012   If you hold the gift as business property, your basis for figuring any depreciation, depletion, or amortization deductions is the same as the donor's adjusted basis plus or minus any required adjustments to basis while you hold the property. When is the last day to file taxes 2012 Property Transferred From a Spouse The basis of property transferred to you or transferred in trust for your benefit by your spouse is the same as your spouse's adjusted basis. When is the last day to file taxes 2012 The same rule applies to a transfer by your former spouse if the transfer is incident to divorce. When is the last day to file taxes 2012 However, for property transferred in trust, adjust your basis for any gain recognized by your spouse or former spouse if the liabilities assumed plus the liabilities to which the property is subject are more than the adjusted basis of the property transferred. When is the last day to file taxes 2012 The transferor must give you the records needed to determine the adjusted basis and holding period of the property as of the date of the transfer. When is the last day to file taxes 2012 For more information, see Property Settlements in Publication 504, Divorced or Separated Individuals. When is the last day to file taxes 2012 Inherited Property Your basis in property you inherited from a decedent, who died before January 1, 2010, or after December 31, 2010, is generally one of the following: The FMV of the property at the date of the decedent's death. When is the last day to file taxes 2012 If a federal estate return is filed, you can use its appraised value. When is the last day to file taxes 2012 The FMV on the alternate valuation date, if the personal representative for the estate elects to use alternate valuation. When is the last day to file taxes 2012 For information on the alternate valuation, see the Instructions for Form 706. When is the last day to file taxes 2012 The decedent's adjusted basis in land to the extent of the value that is excluded from the decedent's taxable estate as a qualified conservation easement. When is the last day to file taxes 2012 If a federal estate tax return does not have to be filed, your basis in the inherited property is its appraised value at the date of death for state inheritance or transmission taxes. When is the last day to file taxes 2012 Special-use valuation method. When is the last day to file taxes 2012   Under certain conditions, when a person dies, the executor or personal representative of that person's estate may elect to value qualified real property at other than its FMV. When is the last day to file taxes 2012 If so, the executor or personal representative values the qualified real property based on its use as a farm or other closely held business. When is the last day to file taxes 2012 If the executor or personal representative elects this method of valuation for estate tax purposes, this value is the basis of the property for the qualified heirs. When is the last day to file taxes 2012 The qualified heirs should be able to get the necessary value from the executor or personal representative of the estate. When is the last day to file taxes 2012   If you are a qualified heir who received special-use valuation property, increase your basis by any gain recognized by the estate or trust because of post-death appreciation. When is the last day to file taxes 2012 Post-death appreciation is the property's FMV on the date of distribution minus the property's FMV either on the date of the individual's death or on the alternate valuation date. When is the last day to file taxes 2012 Figure all FMVs without regard to the special-use valuation. When is the last day to file taxes 2012   You may be liable for an additional estate tax if, within 10 years after the death of the decedent, you transfer the property or the property stops being used as a farm. When is the last day to file taxes 2012 This tax does not apply if you dispose of the property in a like-kind exchange or in an involuntary conversion in which all of the proceeds are reinvested in qualified replacement property. When is the last day to file taxes 2012 The tax also does not apply if you transfer the property to a member of your family and certain requirements are met. When is the last day to file taxes 2012   You can elect to increase your basis in special-use valuation property if it becomes subject to the additional estate tax. When is the last day to file taxes 2012 To increase your basis, you must make an irrevocable election and pay interest on the additional estate tax figured from the date 9 months after the decedent's death until the date of payment of the additional estate tax. When is the last day to file taxes 2012 If you meet these requirements, increase your basis in the property to its FMV on the date of the decedent's death or the alternate valuation date. When is the last day to file taxes 2012 The increase in your basis is considered to have occurred immediately before the event that resulted in the additional estate tax. When is the last day to file taxes 2012   You make the election by filing, with Form 706-A, United States Additional Estate Tax Return, a statement that: Contains your (and the estate's) name, address, and taxpayer identification number; Identifies the election as an election under section 1016(c) of the Internal Revenue Code; Specifies the property for which you are making the election; and Provides any additional information required by the Form 706-A instructions. When is the last day to file taxes 2012   For more information, see Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, Form 706-A, and the related instructions. When is the last day to file taxes 2012 Property inherited from a decedent who died in 2010. When is the last day to file taxes 2012   If you inherited property from a decedent who died in 2010, different rules may apply. When is the last day to file taxes 2012 See Publication 4895, Tax Treatment of Property Acquired From a Decendent Dying in 2010, for details. When is the last day to file taxes 2012 Property Distributed From a Partnership or Corporation The following rules apply to determine a partner's basis and a shareholder's basis in property distributed respectively from a partnership to the partner with respect to the partner's interest in the partnership and from a corporation to the shareholder with respect to the shareholder's ownership of stock in the corporation. When is the last day to file taxes 2012 Partner's basis. When is the last day to file taxes 2012   Unless there is a complete liquidation of a partner's interest, the basis of property (other than money) distributed by a partnership to the partner is its adjusted basis to the partnership immediately before the distribution. When is the last day to file taxes 2012 However, the basis of the property to the partner cannot be more than the adjusted basis of his or her interest in the partnership reduced by any money received in the same transaction. When is the last day to file taxes 2012 For more information, see Partner's Basis for Distributed Property in Publication 541, Partnerships. When is the last day to file taxes 2012 Shareholder's basis. When is the last day to file taxes 2012   The basis of property distributed by a corporation to a shareholder is its fair market value. When is the last day to file taxes 2012 For more information about corporate distributions, see Distributions to Shareholders in Publication 542, Corporations. When is the last day to file taxes 2012 Prev  Up  Next   Home   More Online Publications