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When Is The Last Day To File Taxes 2012

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When Is The Last Day To File Taxes 2012

When is the last day to file taxes 2012 16. When is the last day to file taxes 2012   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. When is the last day to file taxes 2012 Exception 2. When is the last day to file taxes 2012 File Form 1099-B or Form 1099-S with the IRS. When is the last day to file taxes 2012 Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. When is the last day to file taxes 2012 . When is the last day to file taxes 2012  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. When is the last day to file taxes 2012 Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). When is the last day to file taxes 2012 The discussion includes the following topics. When is the last day to file taxes 2012 How to report short-term gains and losses. When is the last day to file taxes 2012 How to report long-term gains and losses. When is the last day to file taxes 2012 How to figure capital loss carryovers. When is the last day to file taxes 2012 How to figure your tax on a net capital gain. When is the last day to file taxes 2012 If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). When is the last day to file taxes 2012 Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. When is the last day to file taxes 2012 Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). When is the last day to file taxes 2012 Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. When is the last day to file taxes 2012 Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. When is the last day to file taxes 2012 On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. When is the last day to file taxes 2012 , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). When is the last day to file taxes 2012 Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. When is the last day to file taxes 2012 Report short-term gains or losses in Part I. When is the last day to file taxes 2012 Report long-term gains or losses in Part II. When is the last day to file taxes 2012 Use as many Forms 8949 as you need. When is the last day to file taxes 2012 Exceptions to filing Form 8949 and Schedule D (Form 1040). When is the last day to file taxes 2012   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). When is the last day to file taxes 2012 Exception 1. When is the last day to file taxes 2012   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). When is the last day to file taxes 2012 (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. When is the last day to file taxes 2012 ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). When is the last day to file taxes 2012 Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. When is the last day to file taxes 2012 You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. When is the last day to file taxes 2012 Exception 2. When is the last day to file taxes 2012   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. When is the last day to file taxes 2012 Installment sales. When is the last day to file taxes 2012   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. When is the last day to file taxes 2012 You must report the entire gain in the year of sale (the year in which the trade date occurs). When is the last day to file taxes 2012 Passive activity gains and losses. When is the last day to file taxes 2012    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. When is the last day to file taxes 2012 In some cases, the loss may be limited under the passive activity rules. When is the last day to file taxes 2012 Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. When is the last day to file taxes 2012 Form 1099-B transactions. When is the last day to file taxes 2012   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. When is the last day to file taxes 2012 Use the Form 1099-B or the substitute statement to complete Form 8949. When is the last day to file taxes 2012 If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. When is the last day to file taxes 2012 This will help you complete Form 8949. When is the last day to file taxes 2012 Generally, a covered security is a security you acquired after 2010. When is the last day to file taxes 2012   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. When is the last day to file taxes 2012 However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. When is the last day to file taxes 2012    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). When is the last day to file taxes 2012 If you include an expense of sale in column (g), enter “E” in column (f). When is the last day to file taxes 2012 Form 1099-CAP transactions. When is the last day to file taxes 2012   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. When is the last day to file taxes 2012 Use the Form 1099-CAP or substitute statement to fill in Form 8949. When is the last day to file taxes 2012 If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). When is the last day to file taxes 2012 You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. When is the last day to file taxes 2012   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. When is the last day to file taxes 2012 Form 1099-S transactions. When is the last day to file taxes 2012   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. When is the last day to file taxes 2012    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). When is the last day to file taxes 2012   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. When is the last day to file taxes 2012   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. When is the last day to file taxes 2012 See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. When is the last day to file taxes 2012 However, report like-kind exchanges on Form 8824 instead. When is the last day to file taxes 2012   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. When is the last day to file taxes 2012 Nominees. When is the last day to file taxes 2012   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. When is the last day to file taxes 2012 File Form 1099-B or Form 1099-S with the IRS. When is the last day to file taxes 2012   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. When is the last day to file taxes 2012 Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). When is the last day to file taxes 2012 Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. When is the last day to file taxes 2012 On Form 1099-B, you should be listed as the “Payer. When is the last day to file taxes 2012 ” The other owner should be listed as the “Recipient. When is the last day to file taxes 2012 ” On Form 1099-S, you should be listed as the “Filer. When is the last day to file taxes 2012 ” The other owner should be listed as the “Transferor. When is the last day to file taxes 2012 ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. When is the last day to file taxes 2012 For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. When is the last day to file taxes 2012 If you are filing electronically see Publication 1220. When is the last day to file taxes 2012 Sale of property bought at various times. When is the last day to file taxes 2012   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. When is the last day to file taxes 2012 Write “Various” in column (b) for the “Date acquired. When is the last day to file taxes 2012 ” Sale expenses. When is the last day to file taxes 2012    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). When is the last day to file taxes 2012 If you include an expense of sale in column (g), enter “E” in column (f). When is the last day to file taxes 2012   For more information about adjustments to basis, see chapter 13. When is the last day to file taxes 2012 Short-term gains and losses. When is the last day to file taxes 2012   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. When is the last day to file taxes 2012 You report it in Part I of Form 8949. When is the last day to file taxes 2012   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). When is the last day to file taxes 2012 Long-term gains and losses. When is the last day to file taxes 2012    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. When is the last day to file taxes 2012 You report it in Part II of Form 8949. When is the last day to file taxes 2012   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. When is the last day to file taxes 2012    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). When is the last day to file taxes 2012 Total net gain or loss. When is the last day to file taxes 2012   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). When is the last day to file taxes 2012 Enter the result on Schedule D (Form 1040), Part III, line 16. When is the last day to file taxes 2012 If your losses are more than your gains, see Capital Losses , next. When is the last day to file taxes 2012 If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. When is the last day to file taxes 2012 Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. When is the last day to file taxes 2012 Report the amount of the deduction on line 13 of Form 1040, in parentheses. When is the last day to file taxes 2012 Limit on deduction. When is the last day to file taxes 2012   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). When is the last day to file taxes 2012   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. When is the last day to file taxes 2012 Capital loss carryover. When is the last day to file taxes 2012   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. When is the last day to file taxes 2012 If part of the loss is still unused, you can carry it over to later years until it is completely used up. When is the last day to file taxes 2012   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. When is the last day to file taxes 2012   When you carry over a loss, it remains long term or short term. When is the last day to file taxes 2012 A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. When is the last day to file taxes 2012 Figuring your carryover. When is the last day to file taxes 2012   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. When is the last day to file taxes 2012   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). When is the last day to file taxes 2012    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 Bob and Gloria sold securities in 2013. When is the last day to file taxes 2012 The sales resulted in a capital loss of $7,000. When is the last day to file taxes 2012 They had no other capital transactions. When is the last day to file taxes 2012 Their taxable income was $26,000. When is the last day to file taxes 2012 On their joint 2013 return, they can deduct $3,000. When is the last day to file taxes 2012 The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. When is the last day to file taxes 2012 If their capital loss had been $2,000, their capital loss deduction would have been $2,000. When is the last day to file taxes 2012 They would have no carryover. When is the last day to file taxes 2012 Use short-term losses first. When is the last day to file taxes 2012   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. When is the last day to file taxes 2012 If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. When is the last day to file taxes 2012 Decedent's capital loss. When is the last day to file taxes 2012    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. When is the last day to file taxes 2012 The capital loss limits discussed earlier still apply in this situation. When is the last day to file taxes 2012 The decedent's estate cannot deduct any of the loss or carry it over to following years. When is the last day to file taxes 2012 Joint and separate returns. When is the last day to file taxes 2012   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. When is the last day to file taxes 2012 However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. When is the last day to file taxes 2012 Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. When is the last day to file taxes 2012 These lower rates are called the maximum capital gain rates. When is the last day to file taxes 2012 The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. When is the last day to file taxes 2012 For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. When is the last day to file taxes 2012 See Table 16-1 for details. When is the last day to file taxes 2012 If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. When is the last day to file taxes 2012 If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. When is the last day to file taxes 2012 Investment interest deducted. When is the last day to file taxes 2012   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. When is the last day to file taxes 2012 Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. When is the last day to file taxes 2012 This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. When is the last day to file taxes 2012 For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. When is the last day to file taxes 2012 Table 16-1. When is the last day to file taxes 2012 What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . When is the last day to file taxes 2012 . When is the last day to file taxes 2012 . When is the last day to file taxes 2012 THEN your  maximum capital gain rate is . When is the last day to file taxes 2012 . When is the last day to file taxes 2012 . When is the last day to file taxes 2012 a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. When is the last day to file taxes 2012 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. When is the last day to file taxes 2012     Collectibles gain or loss. When is the last day to file taxes 2012   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. When is the last day to file taxes 2012   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. When is the last day to file taxes 2012 Gain on qualified small business stock. When is the last day to file taxes 2012    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. When is the last day to file taxes 2012 The eligible gain minus your section 1202 exclusion is a 28% rate gain. When is the last day to file taxes 2012 See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. When is the last day to file taxes 2012 Unrecaptured section 1250 gain. When is the last day to file taxes 2012    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. When is the last day to file taxes 2012 Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. When is the last day to file taxes 2012 For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. When is the last day to file taxes 2012 Tax computation using maximum capital gain rates. When is the last day to file taxes 2012   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. When is the last day to file taxes 2012 You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. When is the last day to file taxes 2012 Schedule D Tax Worksheet. When is the last day to file taxes 2012   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. When is the last day to file taxes 2012 Qualified Dividends and Capital Gain Tax Worksheet. When is the last day to file taxes 2012   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. When is the last day to file taxes 2012 You received qualified dividends. When is the last day to file taxes 2012 (See Qualified Dividends in chapter 8. When is the last day to file taxes 2012 ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. When is the last day to file taxes 2012 (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. When is the last day to file taxes 2012 ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. When is the last day to file taxes 2012 Alternative minimum tax. When is the last day to file taxes 2012   These capital gain rates are also used in figuring alternative minimum tax. When is the last day to file taxes 2012 Prev  Up  Next   Home   More Online Publications
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Tax Relief for Victims of Hurricane Irene in New York

IRS e-File to Remain Open through Oct. 31 for Victims of Hurricane Irene

Updated 9/14/11 to include Herkimer county.
Updated 9/12/11 to include Bronx, Kings, Queens and Richmond counties.
Updated 9/911 to include Columbia, Putnam and Washington counties.
Updated 9/6/11 to include Clinton, Montgomery, Orange, Otsego, Rockland, Saratoga, Sullivan, Suffolk and Warren counties.
Updated 9/2/11 to include Nassau, Rensselaer and Westchester counties.

NY-2011-34, Sept. 1, 2011

NEW YORK — Victims of Hurricane Irene that began on Aug. 26, 2011, in parts of New York may qualify for tax relief from the Internal Revenue Service.

The President has declared the following counties a federal disaster area: Albany, Bronx, Clinton, Columbia, Delaware, Dutchess, Essex, Greene, Herkimer, Kings, Montgomery, Nassau, Orange, Otsego, Putnam, Queens, Rensselaer, Richmond, Rockland, Saratoga, Schenectady, Schoharie, Suffolk, Sullivan, Ulster, Warren, Washington and Westchester. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 26 and on or before Oct. 31 have been postponed to Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns, and individuals and businesses that received a similar extension until Oct. 17. It also includes the estimated tax payment for the third quarter, normally due Sept. 15.  

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Aug. 26 and on or before Sept. 12 as long as the deposits are made by Sept. 12, 2011.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 1-866-562-5227 to request this tax relief.

Covered Disaster Area

The counties listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Oct. 31 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Aug. 26 and on or before Oct. 31.

The IRS also gives affected taxpayers until Oct. 31 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Aug. 26 and on or before Oct. 31.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Aug. 26 and on or before Sept. 12 provided the taxpayer makes these deposits by Sept. 12.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “New York/Hurricane Irene” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040.

Related Information

Page Last Reviewed or Updated: 20-Mar-2014

The When Is The Last Day To File Taxes 2012

When is the last day to file taxes 2012 8. When is the last day to file taxes 2012   Qualified Tuition Program (QTP) Table of Contents Introduction What Is a Qualified Tuition ProgramDesignated beneficiary. When is the last day to file taxes 2012 Half-time student. When is the last day to file taxes 2012 How Much Can You Contribute Are Distributions TaxableFiguring the Taxable Portion of a Distribution Additional Tax on Taxable Distributions Rollovers and Other TransfersRollovers Changing the Designated Beneficiary Introduction Qualified tuition programs (QTPs) are also called “529 plans. When is the last day to file taxes 2012 ” States may establish and maintain programs that allow you to either prepay or contribute to an account for paying a student's qualified education expenses at a postsecondary institution. When is the last day to file taxes 2012 Eligible educational institutions may establish and maintain programs that allow you to prepay a student's qualified education expenses. When is the last day to file taxes 2012 If you prepay tuition, the student (designated beneficiary) will be entitled to a waiver or a payment of qualified education expenses. When is the last day to file taxes 2012 You cannot deduct either payments or contributions to a QTP. When is the last day to file taxes 2012 For information on a specific QTP, you will need to contact the state agency or eligible educational institution that established and maintains it. When is the last day to file taxes 2012 What is the tax benefit of a QTP. When is the last day to file taxes 2012   No tax is due on a distribution from a QTP unless the amount distributed is greater than the beneficiary's adjusted qualified education expenses. When is the last day to file taxes 2012 See Are Distributions Taxable , later, for more information. When is the last day to file taxes 2012    Even if a QTP is used to finance a student's education, the student or the student's parents still may be eligible to claim the American opportunity credit or the lifetime learning credit. When is the last day to file taxes 2012 See Coordination With American Opportunity and Lifetime Learning Credits, later. When is the last day to file taxes 2012 What Is a Qualified Tuition Program A qualified tuition program is a program set up to allow you to either prepay, or contribute to an account established for paying, a student's qualified education expenses at an eligible educational institution. When is the last day to file taxes 2012 QTPs can be established and maintained by states (or agencies or instrumentalities of a state) and eligible educational institutions. When is the last day to file taxes 2012 The program must meet certain requirements. When is the last day to file taxes 2012 Your state government or the eligible educational institution in which you are interested can tell you whether or not they participate in a QTP. When is the last day to file taxes 2012 Qualified education expenses. When is the last day to file taxes 2012   These are expenses related to enrollment or attendance at an Eligible educational institution (defined later). When is the last day to file taxes 2012 As shown in the following list, to be qualified, some of the expenses must be required by the institution and some must be incurred by students who are enrolled at least half-time. When is the last day to file taxes 2012 See Half-time student , later. When is the last day to file taxes 2012 The following expenses must be required for enrollment or attendance of a Designated beneficiary (defined later) at an eligible educational institution. When is the last day to file taxes 2012 Tuition and fees. When is the last day to file taxes 2012 Books, supplies, and equipment. When is the last day to file taxes 2012 Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with enrollment or attendance at an eligible educational institution. When is the last day to file taxes 2012 Expenses for room and board must be incurred by students who are enrolled at least half-time. When is the last day to file taxes 2012 The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. When is the last day to file taxes 2012 The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. When is the last day to file taxes 2012 The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. When is the last day to file taxes 2012 You will need to contact the eligible educational institution for qualified room and board costs. When is the last day to file taxes 2012    For tax years after 2010, the purchase of computer technology or equipment is only a qualified education expense if the computer technology or equipment is required for enrollment or attendance at an eligible institution. When is the last day to file taxes 2012 Designated beneficiary. When is the last day to file taxes 2012   The designated beneficiary is generally the student (or future student) for whom the QTP is intended to provide benefits. When is the last day to file taxes 2012 The designated beneficiary can be changed after participation in the QTP begins. When is the last day to file taxes 2012 If a state or local government or certain tax-exempt organizations purchase an interest in a QTP as part of a scholarship program, the designated beneficiary is the person who receives the interest as a scholarship. When is the last day to file taxes 2012 Half-time student. When is the last day to file taxes 2012   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic workload for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. When is the last day to file taxes 2012 Eligible educational institution. When is the last day to file taxes 2012   For purposes of a QTP, this is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Department of Education. When is the last day to file taxes 2012 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. When is the last day to file taxes 2012 The educational institution should be able to tell you if it is an eligible educational institution. When is the last day to file taxes 2012   Certain educational institutions located outside the United States also participate in the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Department of Education's Federal Student Aid (FSA) programs. When is the last day to file taxes 2012   How Much Can You Contribute Contributions to a QTP on behalf of any beneficiary cannot be more than the amount necessary to provide for the qualified education expenses of the beneficiary. When is the last day to file taxes 2012 There are no income restrictions on the individual contributors. When is the last day to file taxes 2012 You can contribute to both a QTP and a Coverdell ESA in the same year for the same designated beneficiary. When is the last day to file taxes 2012   Are Distributions Taxable The part of a distribution representing the amount paid or contributed to a QTP does not have to be included in income. When is the last day to file taxes 2012 This is a return of the investment in the plan. When is the last day to file taxes 2012 The designated beneficiary generally does not have to include in income any earnings distributed from a QTP if the total distribution is less than or equal to adjusted qualified education expenses (defined under Figuring the Taxable Portion of a Distribution , later). When is the last day to file taxes 2012 Earnings and return of investment. When is the last day to file taxes 2012    You will receive a Form 1099-Q, from each of the programs from which you received a QTP distribution in 2013. When is the last day to file taxes 2012 The amount of your gross distribution (box 1) shown on each form will be divided between your earnings (box 2) and your basis, or return of investment (box 3). When is the last day to file taxes 2012 Form 1099-Q should be sent to you by January 31, 2014. When is the last day to file taxes 2012 Figuring the Taxable Portion of a Distribution To determine if total distributions for the year are more or less than the amount of qualified education expenses, you must compare the total of all QTP distributions for the tax year to the adjusted qualified education expenses. When is the last day to file taxes 2012 Adjusted qualified education expenses. When is the last day to file taxes 2012   This amount is the total qualified education expenses reduced by any tax-free educational assistance. When is the last day to file taxes 2012 Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. When is the last day to file taxes 2012 Taxable earnings. When is the last day to file taxes 2012   Use the following steps to figure the taxable part. When is the last day to file taxes 2012 Multiply the total distributed earnings shown in box 2 of Form 1099-Q by a fraction. When is the last day to file taxes 2012 The numerator is the adjusted qualified education expenses paid during the year and the denominator is the total amount distributed during the year. When is the last day to file taxes 2012 Subtract the amount figured in (1) from the total distributed earnings. When is the last day to file taxes 2012 The result is the amount the beneficiary must include in income. When is the last day to file taxes 2012 Report it on Form 1040 or Form 1040NR, line 21. When is the last day to file taxes 2012 Example 1. When is the last day to file taxes 2012 In 2007, Sara Clarke's parents opened a savings account for her with a QTP maintained by their state government. When is the last day to file taxes 2012 Over the years they contributed $18,000 to the account. When is the last day to file taxes 2012 The total balance in the account was $27,000 on the date the distribution was made. When is the last day to file taxes 2012 In the summer of 2013, Sara enrolled in college and had $8,300 of qualified education expenses for the rest of the year. When is the last day to file taxes 2012 She paid her college expenses from the following sources. When is the last day to file taxes 2012   Gift from parents $1,600     Partial tuition scholarship (tax-free) 3,100     QTP distribution 5,300           Before Sara can determine the taxable part of her QTP distribution, she must reduce her total qualified education expenses by any tax-free educational assistance. When is the last day to file taxes 2012   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Equals: Adjusted qualified  education expenses (AQEE) $5,200   Since the remaining expenses ($5,200) are less than the QTP distribution, part of the earnings will be taxable. When is the last day to file taxes 2012 Sara's Form 1099-Q shows that $950 of the QTP distribution is earnings. When is the last day to file taxes 2012 Sara figures the taxable part of the distributed earnings as follows. When is the last day to file taxes 2012   1. When is the last day to file taxes 2012 $950 (earnings) × $5,200 AQEE  $5,300 distribution           =$932 (tax-free earnings)     2. When is the last day to file taxes 2012 $950 (earnings)−$932 (tax-free earnings)     =$18 (taxable earnings)  Sara must include $18 in income (Form 1040, line 21) as distributed QTP earnings not used for adjusted qualified education expenses. When is the last day to file taxes 2012 Coordination With American Opportunity and Lifetime Learning Credits An American opportunity or lifetime learning credit (education credit) can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. When is the last day to file taxes 2012 This means that after the beneficiary reduces qualified education expenses by tax-free educational assistance, he or she must further reduce them by the expenses taken into account in determining the credit. When is the last day to file taxes 2012 Example 2. When is the last day to file taxes 2012 Assume the same facts as in Example 1 , except that Sara's parents claimed an American opportunity credit of $2,500 (based on $4,000 expenses). When is the last day to file taxes 2012   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Minus: Expenses taken into account  in figuring American opportunity credit −4,000     Equals: Adjusted qualified  education expenses (AQEE) $1,200           The taxable part of the distribution is figured as follows. When is the last day to file taxes 2012   1. When is the last day to file taxes 2012 $950 (earnings) × $1,200 AQEE  $5,300 distribution           =$215 (tax-free earnings)     2. When is the last day to file taxes 2012 $950 (earnings)−$215 (tax-free earnings)     =$735 (taxable earnings)       Sara must include $735 in income (Form 1040, line 21). When is the last day to file taxes 2012 This represents distributed earnings not used for adjusted qualified education expenses. When is the last day to file taxes 2012 Coordination With Coverdell ESA Distributions If a designated beneficiary receives distributions from both a QTP and a Coverdell ESA in the same year, and the total of these distributions is more than the beneficiary's adjusted qualified higher education expenses, the expenses must be allocated between the distributions. When is the last day to file taxes 2012 For purposes of this allocation, disregard any qualified elementary and secondary education expenses. When is the last day to file taxes 2012 Example 3. When is the last day to file taxes 2012 Assume the same facts as in Example 2 , except that instead of receiving a $5,300 distribution from her QTP, Sara received $4,600 from that account and $700 from her Coverdell ESA. When is the last day to file taxes 2012 In this case, Sara must allocate her $1,200 of adjusted qualified higher education expenses (AQHEE) between the two distributions. When is the last day to file taxes 2012   $1,200 AQHEE × $700 ESA distribution  $5,300 total distribution = $158 AQHEE (ESA)     $1,200 AQHEE × $4,600 QTP distribution  $5,300 total distribution = $1,042 AQHEE (QTP)   Sara then figures the taxable portion of her Coverdell ESA distribution based on qualified higher education expenses of $158, and the taxable portion of her QTP distribution based on the other $1,042. When is the last day to file taxes 2012 Note. When is the last day to file taxes 2012 If you are required to allocate your expenses between Coverdell ESA and QTP distributions, and you have adjusted qualified elementary and secondary education expenses, see the examples in chapter 7, Coverdell Education Savings Account under Coordination With Qualified Tuition Program (QTP) Distributions . When is the last day to file taxes 2012 Coordination With Tuition and Fees Deduction. When is the last day to file taxes 2012   A tuition and fees deduction can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. When is the last day to file taxes 2012 Losses on QTP Investments If you have a loss on your investment in a QTP account, you may be able to take the loss on your income tax return. When is the last day to file taxes 2012 You can take the loss only when all amounts from that account have been distributed and the total distributions are less than your unrecovered basis. When is the last day to file taxes 2012 Your basis is the total amount of contributions to that QTP account. When is the last day to file taxes 2012 You claim the loss as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23 (Schedule A (Form 1040NR), line 9), subject to the 2%-of-adjusted-gross-income limit. When is the last day to file taxes 2012 If you have distributions from more than one QTP account during a year, you must combine the information (amount of distribution, basis, etc. When is the last day to file taxes 2012 ) from all such accounts in order to determine your taxable earnings for the year. When is the last day to file taxes 2012 By doing this, the loss from one QTP account reduces the distributed earnings (if any) from any other QTP accounts. When is the last day to file taxes 2012 Example 1. When is the last day to file taxes 2012 In 2013, Taylor received a final distribution of $1,000 from QTP #1. When is the last day to file taxes 2012 His unrecovered basis in that account before the distribution was $3,000. When is the last day to file taxes 2012 If Taylor itemizes his deductions, he can claim the $2,000 loss on Schedule A (Form 1040). When is the last day to file taxes 2012 Example 2. When is the last day to file taxes 2012 Assume the same facts as in Example 1 , except that Taylor also had a distribution of $9,000 from QTP #2, giving him total distributions for 2013 of $10,000. When is the last day to file taxes 2012 His total basis in these distributions was $4,500 ($3,000 for QTP #1 and $1,500 for QTP #2). When is the last day to file taxes 2012 Taylor's adjusted qualified education expenses for 2013 totaled $6,000. When is the last day to file taxes 2012 In order to figure his taxable earnings, Taylor combines the two accounts and determines his taxable earnings as follows. When is the last day to file taxes 2012   1. When is the last day to file taxes 2012 $10,000 (total distribution)−$4,500 (basis portion of distribution)     = $5,500 (earnings included in distribution)   2. When is the last day to file taxes 2012 $5,500 (earnings) x $6,000 AQEE  $10,000 distribution           =$3,300 (tax-free earnings)     3. When is the last day to file taxes 2012 $5,500 (earnings)−$3,300 (tax-free earnings)     =$2,200 (taxable earnings)                 Taylor must include $2,200 in income on Form 1040, line 21. When is the last day to file taxes 2012 Because Taylor's accounts must be combined, he cannot deduct his $2,000 loss (QTP #1) on Schedule A (Form 1040). When is the last day to file taxes 2012 Instead, the $2,000 loss reduces the total earnings that were distributed, thereby reducing his taxable earnings. When is the last day to file taxes 2012 Additional Tax on Taxable Distributions Generally, if you receive a taxable distribution, you also must pay a 10% additional tax on the amount included in income. When is the last day to file taxes 2012 Exceptions. When is the last day to file taxes 2012   The 10% additional tax does not apply to distributions: Paid to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary. When is the last day to file taxes 2012 Made because the designated beneficiary is disabled. When is the last day to file taxes 2012 A person is considered to be disabled if he or she shows proof that he or she cannot do any substantial gainful activity because of his or her physical or mental condition. When is the last day to file taxes 2012 A physician must determine that his or her condition can be expected to result in death or to be of long-continued and indefinite duration. When is the last day to file taxes 2012 Included in income because the designated beneficiary received: A tax-free scholarship or fellowship (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), or Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. When is the last day to file taxes 2012 Made on account of the attendance of the designated beneficiary at a U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 military academy (such as the USNA at Annapolis). When is the last day to file taxes 2012 This exception applies only to the extent that the amount of the distribution does not exceed the costs of advanced education (as defined in section 2005(d)(3) of title 10 of the U. When is the last day to file taxes 2012 S. When is the last day to file taxes 2012 Code) attributable to such attendance. When is the last day to file taxes 2012 Included in income only because the qualified education expenses were taken into account in determining the American opportunity or lifetime learning credit (see Coordination With American Opportunity and Lifetime Learning Credits , earlier. When is the last day to file taxes 2012 ) Exception (3) applies only to the extent the distribution is not more than the scholarship, allowance, or payment. When is the last day to file taxes 2012 Figuring the additional tax. When is the last day to file taxes 2012    Use Part II of Form 5329, to figure any additional tax. When is the last day to file taxes 2012 Report the amount on Form 1040, line 58, or Form 1040NR, line 56. When is the last day to file taxes 2012 Rollovers and Other Transfers Assets can be rolled over or transferred from one QTP to another. When is the last day to file taxes 2012 In addition, the designated beneficiary can be changed without transferring accounts. When is the last day to file taxes 2012 Rollovers Any amount distributed from a QTP is not taxable if it is rolled over to another QTP for the benefit of the same beneficiary or for the benefit of a member of the beneficiary's family (including the beneficiary's spouse). When is the last day to file taxes 2012 An amount is rolled over if it is paid to another QTP within 60 days after the date of the distribution. When is the last day to file taxes 2012 Do not report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040 or 1040NR. When is the last day to file taxes 2012 These are not taxable distributions. When is the last day to file taxes 2012 Members of the beneficiary's family. When is the last day to file taxes 2012   For these purposes, the beneficiary's family includes the beneficiary's spouse and the following other relatives of the beneficiary. When is the last day to file taxes 2012 Son, daughter, stepchild, foster child, adopted child, or a descendant of any of them. When is the last day to file taxes 2012 Brother, sister, stepbrother, or stepsister. When is the last day to file taxes 2012 Father or mother or ancestor of either. When is the last day to file taxes 2012 Stepfather or stepmother. When is the last day to file taxes 2012 Son or daughter of a brother or sister. When is the last day to file taxes 2012 Brother or sister of father or mother. When is the last day to file taxes 2012 Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. When is the last day to file taxes 2012 The spouse of any individual listed above. When is the last day to file taxes 2012 First cousin. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 When Aaron graduated from college last year he had $5,000 left in his QTP. When is the last day to file taxes 2012 He wanted to give this money to his younger brother, who was in junior high school. When is the last day to file taxes 2012 In order to avoid paying tax on the distribution of the amount remaining in his account, Aaron contributed the same amount to his brother's QTP within 60 days of the distribution. When is the last day to file taxes 2012 If the rollover is to another QTP for the same beneficiary, only one rollover is allowed within 12 months of a previous transfer to any QTP for that designated beneficiary. When is the last day to file taxes 2012 Changing the Designated Beneficiary There are no income tax consequences if the designated beneficiary of an account is changed to a member of the beneficiary's family. When is the last day to file taxes 2012 See Members of the beneficiary's family , earlier. When is the last day to file taxes 2012 Example. When is the last day to file taxes 2012 Assume the same situation as in the last example. When is the last day to file taxes 2012 Instead of closing his QTP and paying the distribution into his brother's QTP, Aaron could have instructed the trustee of his account to simply change the name of the beneficiary on his account to that of his brother. When is the last day to file taxes 2012 Prev  Up  Next   Home   More Online Publications