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1040 ez online 13. 1040 ez online   Employment Taxes Table of Contents What's New for 2013 What's New for 2014 Reminders Important Dates for 2014 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Farm Employment Family Employees Crew Leaders Social Security and Medicare TaxesReligious exemption. 1040 ez online Wage limit. 1040 ez online Federal Income Tax WithholdingNew Form W-4 for 2014. 1040 ez online Required Notice to Employees About Earned Income Credit (EIC) Reporting and Paying Social Security, Medicare, and Withheld Federal Income TaxesElectronic deposit requirement. 1040 ez online Federal Unemployment (FUTA) TaxReporting and Paying FUTA Tax What's New for 2013 Social security and Medicare tax for 2013. 1040 ez online  The employee tax rate for social security is 6. 1040 ez online 2%. 1040 ez online Previously, the employee tax rate for social security was 4. 1040 ez online 2%. 1040 ez online The employer tax rate for social security remains unchanged at 6. 1040 ez online 2%. 1040 ez online The social security wage base limit is $113,700. 1040 ez online The Medicare tax rate is 1. 1040 ez online 45% each for the employee and employer, unchanged from 2012. 1040 ez online There is no wage base limit for Medicare tax. 1040 ez online Additional Medicare Tax. 1040 ez online  In addition to withholding Medicare tax at 1. 1040 ez online 45%, you must withhold a 0. 1040 ez online 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. 1040 ez online You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. 1040 ez online Additional Medicare Tax is only imposed on the employee. 1040 ez online There is no employer share of Additional Medicare Tax. 1040 ez online All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. 1040 ez online For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. 1040 ez online For more information on Additional Medicare Tax, visit IRS. 1040 ez online gov and enter “Additional Medicare Tax” in the search box. 1040 ez online Leave-based donation programs to aid victims of Hurricane Sandy. 1040 ez online  Under these programs, employees may donate their vacation, sick, or personal leave in exchange for employer cash payments made before January 1, 2014, to qualified tax-exempt organizations providing relief for the victims of Hurricane Sandy. 1040 ez online The donated leave will not be included in the income or wages of the employee. 1040 ez online The employer may deduct the cash payments as business expenses or charitable contributions. 1040 ez online For more information, see Notice 2012-69, 2012-51 I. 1040 ez online R. 1040 ez online B. 1040 ez online 712, available at www. 1040 ez online irs. 1040 ez online gov/irb/2012-51_IRB/ar09. 1040 ez online html. 1040 ez online Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans extended. 1040 ez online  The work opportunity tax credit is now available for eligible unemployed veterans who begin work before January 1, 2014. 1040 ez online Previously, the credit was available for unemployed veterans who began work on or after November 22, 2011, and before January 1, 2013. 1040 ez online Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. 1040 ez online For more information, visit IRS. 1040 ez online gov and enter “work opportunity credit” in the search box. 1040 ez online What's New for 2014 Social security and Medicare tax for 2014. 1040 ez online  The employee and employer tax rates for social security and the maximum amount of wages subject to social security tax for 2014 will be discussed in Publication 51 (Circular A), Agricultural Employer's Tax Guide (For use in 2014). 1040 ez online The Medicare tax rate for 2014 will also be discussed in Publication 51 (Circular A) (For use in 2014). 1040 ez online There is no limit on the amount of wages subject to Medicare tax. 1040 ez online Reminders Additional employment tax information for farmers. 1040 ez online  See Publication 51 (Circular A) for more detailed guidance on employment taxes. 1040 ez online For the latest information about employment tax developments impacting farmers, go to www. 1040 ez online irs. 1040 ez online gov/pub51. 1040 ez online Correcting a previously filed Form 943. 1040 ez online  If you discover an error on a previously filed Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, make the correction using Form 943-X, Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund. 1040 ez online Form 943-X is filed separately from Form 943. 1040 ez online For more information on correcting Form 943, see the Instructions for Form 943-X. 1040 ez online Federal tax deposits must be made by electronic funds transfer. 1040 ez online  You must use electronic funds transfer to make all federal tax deposits. 1040 ez online Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). 1040 ez online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. 1040 ez online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. 1040 ez online EFTPS is a free service provided by the Department of Treasury. 1040 ez online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. 1040 ez online For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). 1040 ez online To get more information about EFTPS or to enroll in EFTPS, visit www. 1040 ez online eftps. 1040 ez online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). 1040 ez online Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. 1040 ez online Important Dates for 2014 You should take the action indicated by the dates listed. 1040 ez online See By February 15 and On February 16 for Form W-4, Employee's Withholding Allowance Certificate, information. 1040 ez online Due dates for deposits of withheld federal income taxes, social security taxes, and Medicare taxes are not listed here. 1040 ez online For these dates, see Publication 509, Tax Calendars (For use in 2014). 1040 ez online Note. 1040 ez online  If any date shown below for filing a return, furnishing a form, or depositing taxes falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. 1040 ez online A statewide legal holiday delays a filing or furnishing due date only if the IRS office where you are required to file a return or furnish a form is located in that state. 1040 ez online For any due date, you will meet the “file” or “furnish” date requirement if the envelope containing the tax return or form is properly addressed, contains sufficient postage, and is postmarked by the U. 1040 ez online S. 1040 ez online Postal Service by the due date, or sent by an IRS-designated delivery service by the due date. 1040 ez online See Private delivery services in Publication 51 (Circular A). 1040 ez online Federal tax deposits can only be made by electronic funds transfer and are governed by legal holidays in the District of Columbia. 1040 ez online Statewide holidays no longer apply. 1040 ez online For a list of legal holidays that delay the due date of a federal tax deposit, see section 7 of Publication 51 (Circular A). 1040 ez online Fiscal year taxpayers. 1040 ez online  The due dates listed below apply whether you use a calendar or a fiscal year. 1040 ez online By January 31. 1040 ez online   File Form 943 with the IRS. 1040 ez online If you deposited all Form 943 taxes when due, you have 10 additional days to file. 1040 ez online Furnish each employee with a completed Form W-2, Wage and Tax Statement. 1040 ez online Furnish each recipient to whom you paid $600 or more in nonemployee compensation with a completed Form 1099 (for example, Form 1099-MISC). 1040 ez online File Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, with the IRS. 1040 ez online If you deposited all the FUTA tax when due, you have 10 additional days to file. 1040 ez online File Form 945, Annual Return of Withheld Federal Income Tax, with the IRS to report any nonpayroll income tax withheld during 2013. 1040 ez online If you deposited all Form 945 taxes when due, you have 10 additional days to file. 1040 ez online By February 15. 1040 ez online  Ask for a new Form W-4 or Formulario W-4(SP), Certificado de Exención de Retenciones del Empleado, from each employee who claimed exemption from federal income tax withholding last year. 1040 ez online On February 16. 1040 ez online  Any Form W-4 claiming exemption from withholding for the previous year has now expired. 1040 ez online Begin withholding for any employee who previously claimed exemption from withholding but has not given you a new Form W-4 for the current year. 1040 ez online If the employee does not give you a new Form W-4, withhold taxes based on the last valid Form W-4 you have for the employee that does not claim exemption from withholding or, if one does not exist, as if he or she is single with zero withholding allowances. 1040 ez online If the employee furnishes a new Form W-4 claiming exemption from withholding after February 15, you may apply the exemption to future wages, but do not refund taxes withheld while the exempt status was not in place. 1040 ez online By February 28. 1040 ez online   File paper Forms 1099 and 1096. 1040 ez online File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U. 1040 ez online S. 1040 ez online Information Returns, with the IRS. 1040 ez online For electronically filed returns, see By March 31 below. 1040 ez online File paper Forms W-2 and W-3. 1040 ez online File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA). 1040 ez online For electronically filed returns, see By March 31 below. 1040 ez online By March 31. 1040 ez online   File electronic Forms W-2 and 1099. 1040 ez online File electronic Forms W-2 with the SSA and Forms 1099 with the IRS. 1040 ez online For more information on reporting Form W-2 information to the SSA electronically, visit the SSA's Employer W-2 Filing Instructions & Information webpage at www. 1040 ez online socialsecurity. 1040 ez online gov/employer. 1040 ez online For information on filing information returns electronically with the IRS, see Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. 1040 ez online By April 30, July 31, October 31, and January 31. 1040 ez online   Deposit FUTA taxes. 1040 ez online Deposit FUTA tax due if it is more than $500. 1040 ez online Before December 1. 1040 ez online  Remind employees to submit a new Form W-4 if their withholding allowances have changed or will change for the next year. 1040 ez online Introduction You are generally required to withhold federal income tax from the wages of your employees. 1040 ez online You may also be subject to social security and Medicare taxes under the Federal Insurance Contributions Act (FICA) and federal unemployment tax under the Federal Unemployment Tax Act (FUTA). 1040 ez online You must also withhold Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. 1040 ez online This chapter includes information about these taxes. 1040 ez online You must also pay self-employment tax on your net earnings from farming. 1040 ez online See chapter 12 for information on self-employment tax. 1040 ez online Topics - This chapter discusses: Farm employment, Family employees, Crew leaders, Social security and Medicare taxes, Additional Medicare Tax withholding, Federal income tax withholding, Reporting and paying social security, Medicare, and withheld federal income taxes, and FUTA tax. 1040 ez online Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 51 (Circular A), Agricultural Employer's Tax Guide 926 Household Employer's Tax Guide Form (and Instructions) W-2 Wage and Tax Statement W-4 Employee's Withholding Allowance Certificate W-9 Request for Taxpayer Identification Number and Certification 940 Employer's Annual Federal Unemployment (FUTA) Tax Return 943 Employer's Annual Federal Tax Return for Agricultural Employees 943-X Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund See chapter 16 for information about getting publications and forms. 1040 ez online Farm Employment In general, you are an employer of farmworkers if your employees do any of the following types of work. 1040 ez online Raising or harvesting agricultural or horticultural products on a farm, including raising and feeding of livestock. 1040 ez online Operating, managing, conserving, improving, or maintaining your farm and its tools and equipment. 1040 ez online Services performed in salvaging timber, or clearing land of brush and other debris, left by a hurricane (also known as hurricane labor). 1040 ez online Handling, processing, or packaging any agricultural or horticultural commodity if you produced more than half of the commodity (for a group of up to 20 unincorporated operators, all of the commodity). 1040 ez online Work related to cotton ginning, turpentine, gum resin products, or the operation and maintenance of irrigation facilities. 1040 ez online For more information, see Publication 51 (Circular A). 1040 ez online Generally, a worker who performs services for you is your employee if you have the right to control what will be done and how it will be done. 1040 ez online This is so even when you give the employee freedom of action. 1040 ez online What matters is that you have the right to control the details of how the services are performed. 1040 ez online You are responsible for withholding and paying employment taxes for your employees. 1040 ez online You are also required to file employment tax returns. 1040 ez online These requirements do not apply to amounts that you pay to independent contractors. 1040 ez online See Publication 15-A for more information on how to determine whether an individual providing services is an independent contractor or an employee. 1040 ez online If you employ a family of workers, each worker subject to your control (not just the head of the family) is an employee. 1040 ez online Special rules apply to crew leaders. 1040 ez online See Crew Leaders , later. 1040 ez online Employer identification number (EIN). 1040 ez online   If you have employees, you must have an EIN. 1040 ez online If you do not have an EIN, you may apply for one online. 1040 ez online Go to IRS. 1040 ez online gov and click on the Apply for an EIN Online link under Tools. 1040 ez online You may also apply for an EIN by calling 1-800-829-4933 or 1-800-829-4059 (TDD/TTY for persons who are deaf, hard of hearing, or have a speech disability). 1040 ez online The hours of operation for both numbers are Monday–Friday form 7:00 a. 1040 ez online m. 1040 ez online –7:00 p. 1040 ez online m. 1040 ez online local time (Alaska and Hawaii follow Pacific time). 1040 ez online You can also fax or mail Form SS-4, Application for Employer Identification Number, to the IRS. 1040 ez online Employee's social security number (SSN). 1040 ez online   An employee who does not have an SSN should submit Form SS-5, Application for a Social Security Card, to the Social Security Administration (SSA). 1040 ez online Form SS-5 is available from any SSA office or by calling 1-800-772-1213 (operates 24 hours per day). 1040 ez online It is also available from the SSA's website at www. 1040 ez online socialsecurity. 1040 ez online gov. 1040 ez online   The employee must furnish evidence of age, identity, and U. 1040 ez online S. 1040 ez online citizenship or lawful immigration status permitting employment with the Form SS-5. 1040 ez online An employee who is age 18 or older must appear in person with this evidence at an SSA office. 1040 ez online Form I-9. 1040 ez online    You must verify that each new employee is legally eligible to work in the United States. 1040 ez online This includes completing the Form I-9, Employment Eligibility Verification. 1040 ez online Form I-9 is available from the U. 1040 ez online S. 1040 ez online Citizenship and Immigration Services (USCIS) offices or by calling the Bureau of Citizenship and Immigration Services Forms Request Line at 1-800-870-3676. 1040 ez online Form I-9 is also available from the USCIS website at www. 1040 ez online uscis. 1040 ez online gov. 1040 ez online You can also contact the USCIS at 1-800-375-5283 for more information. 1040 ez online New hire reporting. 1040 ez online   You are required to report any new employee to a designated state new hire registry. 1040 ez online Many states accept a copy of Form W-4 with employer information added. 1040 ez online Visit the Office of Child Support Enforcement website at www. 1040 ez online acf. 1040 ez online hhs. 1040 ez online gov/programs/cse/newhire for more information. 1040 ez online Family Employees Generally, the wages you pay to family members who are your employees are subject to employment taxes. 1040 ez online However, certain exemptions may apply to wages paid to your child, spouse, or parent. 1040 ez online Exemptions for your child. 1040 ez online   Payments for the services of your child under age 18 who works for you in your trade or business (including a farm) are not subject to social security and Medicare taxes. 1040 ez online However, see Nonexempt services of a child or spouse , later. 1040 ez online Payments for the services of your child under age 21 employed by you in other than a trade or business, such as payments for household services in your home, are also not subject to social security or Medicare taxes. 1040 ez online Payments for the services of your child under age 21 employed by you, whether or not in your trade or business, are not subject to FUTA tax. 1040 ez online Although not subject to social security, Medicare, or FUTA tax, the child's wages still may be subject to federal income tax withholding. 1040 ez online Exemptions for your spouse. 1040 ez online   Payments for the services of your spouse who works for you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes, but not FUTA tax. 1040 ez online   Payments for the services of your spouse employed by you in other than a trade or business, such as payments for household services in your home, are not subject to social security, Medicare, or FUTA taxes. 1040 ez online Nonexempt services of a child or spouse. 1040 ez online   Payments for the services of your child or spouse are subject to federal income tax withholding as well as social security, Medicare, and FUTA taxes if he or she works for any of the following entities. 1040 ez online A corporation, even if it is controlled by you. 1040 ez online A partnership, even if you are a partner. 1040 ez online This does not apply to wages paid to your child if each partner is a parent of the child. 1040 ez online An estate or trust, even if it is the estate of a deceased parent. 1040 ez online In these situations, the child or spouse is considered to work for the corporation, partnership, or estate, not you. 1040 ez online Exemptions for your parent. 1040 ez online   Payments for the services of your parent employed by you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes. 1040 ez online Social security and Medicare taxes do not apply to wages paid to your parent for services not in your trade or business, but they do apply to payments for household services in your home if both the following conditions are satisfied. 1040 ez online You have a child living in your home who is under age 18 or has a physical or mental condition that requires care by an adult for at least 4 continuous weeks in a calendar quarter. 1040 ez online You are a widow or widower; or divorced and not remarried; or have a spouse in the home who, because of a physical or mental condition, cannot care for your child for at least 4 continuous weeks in the quarter. 1040 ez online   Wages you pay to your parent are not subject to FUTA tax, regardless of the type of services provided. 1040 ez online Qualified joint venture. 1040 ez online   If spouses elect to be treated as a qualified joint venture instead of a partnership, either spouse may report and pay the employment taxes due on the wages paid to employees using the EIN of that spouse's sole proprietorship. 1040 ez online For more information about qualified joint ventures, see chapter 12. 1040 ez online Crew Leaders If farmworkers are provided by a crew leader, the crew leader may be the employer of the workers. 1040 ez online Social security and Medicare taxes. 1040 ez online   For social security and Medicare tax purposes, the crew leader is the employer of the workers if both of the following requirements are met. 1040 ez online The crew leader pays (either on his or her own behalf or on behalf of the farmer) the workers for their farm labor. 1040 ez online The crew leader has not entered into a written agreement with the farmer under which the crew leader is designated as an employee of the farmer. 1040 ez online Federal income tax withholding. 1040 ez online   If the crew leader is the employer for social security and Medicare tax purposes, the crew leader is the employer for federal income tax withholding purposes. 1040 ez online Federal unemployment (FUTA) tax. 1040 ez online   For FUTA tax purposes, the crew leader is the employer of the workers if, in addition to the earlier requirements, either of the following requirements are met. 1040 ez online The crew leader is registered under the Migrant and Seasonal Agricultural Worker Protection Act. 1040 ez online Substantially all crew members operate or maintain mechanized equipment provided by the crew leader as part of the service to the farmer. 1040 ez online   The farmer is the employer of workers furnished by a crew leader in all other situations. 1040 ez online In addition, the farmer is the employer of workers furnished by a registered crew leader if the workers are the employees of the farmer under the common-law test. 1040 ez online For example, some farmers employ individuals to recruit farmworkers exclusively for them. 1040 ez online Although these individuals may be required to register under the Migrant and Seasonal Agricultural Worker Protection Act, the workers are employed directly by the farmer. 1040 ez online The farmer is the employer in these cases. 1040 ez online For information about common-law employees, see section 1 of Publication 15-A. 1040 ez online For information about crew leaders, see the Department of Labor website at www. 1040 ez online dol. 1040 ez online gov/whd/regs/compliance/whdfs49. 1040 ez online htm. 1040 ez online Social Security and Medicare Taxes All cash wages you pay to an employee during the year for farmwork are subject to social security and Medicare taxes if you meet either of the following tests. 1040 ez online You pay the employee $150 or more in cash wages (count all wages paid on a time, piecework, or other basis) during the year for farmwork (the $150 test). 1040 ez online The $150 test applies separately to each farmworker that you employ. 1040 ez online If you employ a family of workers, each member is treated separately. 1040 ez online Do not count wages paid by other employers. 1040 ez online You pay cash and noncash wages of $2,500 or more during the year to all your employees for farmwork (the $2,500 test). 1040 ez online If the $2,500 test for the group is not met, the $150 test for an employee still applies. 1040 ez online Exceptions. 1040 ez online   Annual cash wages of less than $150 you pay to a seasonal farmworker are not subject to social security and Medicare taxes, even if you pay $2,500 or more to all your farmworkers. 1040 ez online However, these wages count toward the $2,500 test for determining whether other farmworkers' wages are subject to social security and Medicare taxes. 1040 ez online   A seasonal farmworker is a worker who: Works as a hand-harvest laborer, Is paid piece rates in an operation usually paid on this basis in the region of employment, Commutes daily from his or her permanent home to the farm, and Worked in agriculture less than 13 weeks in the preceding calendar year. 1040 ez online   See Family Employees , earlier, for certain exemptions from social security and Medicare taxes that apply to your child, spouse, and parent. 1040 ez online Religious exemption. 1040 ez online   An exemption from social security and Medicare taxes is available to members of a recognized religious group or division opposed to public insurance. 1040 ez online This exemption is available only if both the employee and the employer are members of the group or division. 1040 ez online   For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. 1040 ez online Cash wages. 1040 ez online   Only cash wages paid to farmworkers are subject to social security and Medicare taxes. 1040 ez online Cash wages include checks, money orders, and any kind of money or cash. 1040 ez online   Only cash wages subject to social security and Medicare taxes are credited to your employees for social security benefit purposes. 1040 ez online Payments not subject to these taxes, such as commodity wages, do not contribute to your employees' social security coverage. 1040 ez online For information about social security benefits, contact the SSA at 1-800-772-1213 or online at www. 1040 ez online socialsecurity. 1040 ez online gov. 1040 ez online Noncash wages. 1040 ez online    Noncash wages include food, lodging, clothing, transportation passes, and other goods and services. 1040 ez online Noncash wages paid to farmworkers, including commodity wages, are not subject to social security and Medicare taxes. 1040 ez online However, they are subject to these taxes if the substance of the transaction is a cash payment. 1040 ez online For information on lodging provided as a condition of employment, see Publication 15-B. 1040 ez online   Report the value of noncash wages in box 1 of Form W-2 together with cash wages. 1040 ez online Do not show noncash wages in box 3 or in box 5, (unless the substance of the transaction is a cash payment). 1040 ez online Tax rates and social security wage limit. 1040 ez online   For 2013, the employer and the employee will pay the following taxes. 1040 ez online The employer and employee each pay 6. 1040 ez online 2% of cash wages for social security tax (old-age, survivors, and disability insurance). 1040 ez online The employer and employee each pay 1. 1040 ez online 45% of cash wages for Medicare tax (hospital insurance). 1040 ez online The employee pays 0. 1040 ez online 9% of cash wages in excess of $200,000 for Additional Medicare Tax. 1040 ez online Wage limit. 1040 ez online   The limit on wages subject to the social security tax for 2013 is $113,700. 1040 ez online There is no limit on wages subject to the Medicare tax. 1040 ez online All covered wages are subject to the Medicare tax. 1040 ez online Additionally, all wages in excess of $200,000 are subject to Additional Medicare Tax withholding. 1040 ez online Paying employee's share. 1040 ez online   If you would rather pay the employee's share of social security and Medicare taxes without deducting it from his or her wages, you may do so. 1040 ez online It is additional income to the employee. 1040 ez online You must include it in box 1 of the employee's Form W-2, but do not count it as social security and Medicare wages (boxes 3 and 5 on Form W-2) or as wages for federal unemployment (FUTA) tax purposes. 1040 ez online Example. 1040 ez online Jane operates a small family fruit farm. 1040 ez online She employs day laborers in the picking season to enable her to timely get her crop to market. 1040 ez online She does not deduct the employees' share of social security and Medicare taxes from their pay; instead, she pays it on their behalf. 1040 ez online When her accountant, Susan, prepares the employees' Forms W-2, she adds each employee's share of social security and Medicare taxes paid by Jane to the employee's wage income (box 1 of Form W-2), but does not include it in box 3 (social security wages) or box 5 (Medicare wages and tips). 1040 ez online For 2013, Jane paid Mary $1,000 during the year. 1040 ez online Susan enters $1,076. 1040 ez online 50 in box 1 of Mary's Form W-2 ($1,000 wages plus $76. 1040 ez online 50 social security and Medicare taxes paid for Mary). 1040 ez online She enters $1,000 in boxes 3 and 5 of Mary's Form W-2. 1040 ez online Additional Medicare Tax. 1040 ez online   In addition to withholding Medicare tax at 1. 1040 ez online 45%, you must withhold a 0. 1040 ez online 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. 1040 ez online You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. 1040 ez online Additional Medicare Tax is only imposed on the employee. 1040 ez online There is no employer share of Additional Medicare Tax. 1040 ez online All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. 1040 ez online   For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E). 1040 ez online For more information on Additional Medicare Tax, visit IRS. 1040 ez online gov and enter “Additional Medicare Tax” in the search box. 1040 ez online Federal Income Tax Withholding If the cash wages you pay to farmworkers are subject to social security and Medicare taxes, they are also subject to federal income tax withholding. 1040 ez online Although noncash wages are subject to federal income tax, withhold income tax only if you and the employee agree to do so. 1040 ez online The amount to withhold is figured on gross wages without taking out social security and Medicare taxes, union dues, insurance, etc. 1040 ez online Form W-4. 1040 ez online   Generally, the amount of federal income tax you withhold is based on the employee's marital status and withholding allowances claimed on the employee's Form W-4. 1040 ez online In general, an employee can claim withholding allowances on Form W-4 equal to the number of exemptions the employee will be entitled to claim on his or her tax return. 1040 ez online An employee may also be able to claim a special withholding allowance and allowances for estimated deductions and credits. 1040 ez online   Do not withhold federal income tax from the wages of an employee who, by filing Form W-4, certifies that he or she had no federal income tax liability last year and anticipates no liability for the current year. 1040 ez online   You should give each new employee a Form W-4 as soon as you hire the employee. 1040 ez online For Spanish-speaking employees, you may use Formulario W-4(SP) which is the Spanish translation of Form W-4. 1040 ez online Have the employee complete and return the form to you before the first payday. 1040 ez online If the employee does not return the completed form, you must withhold federal income tax as if the employee is single and claims no withholding allowances. 1040 ez online New Form W-4 for 2014. 1040 ez online   You should make the 2014 Form W-4 available to your employees and encourage them to check their income tax withholding for 2014. 1040 ez online Those employees who owed a large amount of tax or received a large refund for 2013 may want to submit a new Form W-4. 1040 ez online You cannot accept substitute Forms W-4 developed by employees. 1040 ez online How to figure withholding. 1040 ez online   You can use one of several methods to determine the amount to withhold. 1040 ez online The methods are described in Publication 51 (Circular A), which contains tables showing the correct amount of federal income tax you should withhold. 1040 ez online Publication 51 (Circular A) also contains additional information about federal income tax withholding. 1040 ez online Nonemployee compensation. 1040 ez online   Generally, you do not have to withhold federal income tax on payments for services to individuals who are not your employees. 1040 ez online However, you may be required to report these payments on Form 1099-MISC, Miscellaneous Income, and to withhold under the backup withholding rules. 1040 ez online For more information, see the Instructions for Form 1099-MISC. 1040 ez online Required Notice to Employees About Earned Income Credit (EIC) You must provide notification about EIC to each employee who worked for you at any time during the year and from whom you did not withhold any federal income tax. 1040 ez online However, you do not have to notify employees who claim exemption from federal income tax withholding on Form W-4. 1040 ez online You meet the notification requirement by giving each employee any of the following. 1040 ez online Form W-2, which contains EIC notification on the back of Copy B. 1040 ez online A substitute Form W-2 with the exact EIC wording shown on the back of copy B of Form W-2. 1040 ez online Notice 797, Possible Federal Tax Refund Due to the Earned Income Credit (EIC). 1040 ez online Your own written statement with the exact wording of Notice 797. 1040 ez online For more information, see Publication 51 (Circular A). 1040 ez online Reporting and Paying Social Security, Medicare, and Withheld Federal Income Taxes You must withhold federal income, social security, and Medicare taxes required to be withheld from the salaries and wages of your employees. 1040 ez online You are liable for the payment of these taxes to the federal government whether or not you collect them from your employees. 1040 ez online If, for example, you withhold less than the correct tax from an employee's wages, you are still liable for the full amount. 1040 ez online You must also pay the employer's share of social security and Medicare taxes. 1040 ez online There is no employer share of Additional Medicare Tax. 1040 ez online Form 943. 1040 ez online   Report withheld federal income tax, social security tax, and Medicare tax on Form 943. 1040 ez online Your 2013 Form 943 is due by January 31, 2014 (or February 10, 2014, if you made deposits on time in full payment of the taxes due for the year). 1040 ez online Deposits. 1040 ez online   Generally, you must deposit both the employer and employee shares of social security and Medicare taxes and federal income tax withheld during the year. 1040 ez online However, you may make payments with Form 943 instead of depositing them if you accumulate less than a $2,500 tax liability (“Total taxes after adjustments” line on Form 943) during the year and you pay in full with a timely filed return. 1040 ez online   For more information on deposit rules, see Publication 51 (Circular A). 1040 ez online Electronic deposit requirement. 1040 ez online   You must use electronic funds transfer to make all federal tax deposits. 1040 ez online Generally, electronic funds transfers are made using EFTPS. 1040 ez online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. 1040 ez online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. 1040 ez online EFTPS is a free service provided by the Department of Treasury. 1040 ez online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. 1040 ez online   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). 1040 ez online To get more information about EFTPS or to enroll in EFTPS, visit www. 1040 ez online eftps. 1040 ez online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). 1040 ez online Additional information about EFTPS is also available in Publication 966. 1040 ez online Form W-2. 1040 ez online   By January 31, you must furnish each employee a Form W-2 showing total wages for the previous year and total federal income tax, social security tax, and Medicare tax withheld. 1040 ez online However, if an employee stops working for you and requests the form earlier, you must give it to the employee within 30 days of the later of the following dates. 1040 ez online The date the employee requests the form. 1040 ez online The date you make your final payment of wages to the employee. 1040 ez online Compensation paid to H-2A visa holders. 1040 ez online   Report compensation of $600 or more paid to foreign agricultural workers who entered the country on H-2A visas in box 1 of Form W-2. 1040 ez online Compensation paid to H-2A workers for agricultural labor performed in connection with this visa is not subject to social security and Medicare taxes, and therefore should not be reported as wages subject to social security tax (line 2), Medicare tax (line 4), or Additional Medicare Tax (line 6) on Form 943, and should not be reported as social security wages (box 3) or Medicare wages (box 5) on Form W-2. 1040 ez online   An employer is not required to withhold federal income tax from compensation it pays to an H-2A worker for agricultural labor performed in connection with this visa unless the worker asks for withholding and the employer agrees. 1040 ez online In this case, the worker must give the employer a completed Form W-4. 1040 ez online Federal income tax withheld should be reported on Form 943, line 8, and in box 2 of Form W-2. 1040 ez online   These reporting rules apply when the H-2A worker provides his or her taxpayer identification number (TIN) to the employer. 1040 ez online For the rules relating to backup withholding and reporting when the H-2A worker does not provide a TIN, see the Instructions for Form 1099-MISC and the Instructions for Form 945. 1040 ez online Trust fund recovery penalty. 1040 ez online   If you are responsible for withholding, accounting for, depositing, or paying federal withholding taxes and willfully fail to do so, you can be held liable for a penalty equal to the withheld tax not paid. 1040 ez online A responsible person can be an officer of a corporation, a partner, a sole proprietor, or an employee of any form of business. 1040 ez online A trustee or agent with authority over the funds of the business can also be held responsible for the penalty. 1040 ez online   Willfully means voluntarily, consciously, and intentionally. 1040 ez online Paying other expenses of the business instead of the taxes due is acting willfully. 1040 ez online Consequences of treating an employee as an independent contractor. 1040 ez online   If you classify an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that worker. 1040 ez online See Publication 15-A for more information. 1040 ez online Federal Unemployment (FUTA) Tax You must pay FUTA tax if you meet either of the following tests. 1040 ez online You paid cash wages of $20,000 or more to farmworkers in any calendar quarter during the current or preceding calendar year. 1040 ez online You employed 10 or more farmworkers for some part of at least 1 day during any 20 or more different calendar weeks during the current or preceding calendar year. 1040 ez online These rules do not apply to exempt services of your spouse, your parents, or your children under age 21. 1040 ez online See Family Employees , earlier. 1040 ez online Alien farmworkers. 1040 ez online   Wages paid to aliens admitted on a temporary basis to the United States to perform farmwork (also known as “H-2A visa workers”) are exempt from FUTA tax. 1040 ez online However, include your employment of these workers and the wages you paid them to determine whether you meet either of the above tests. 1040 ez online Commodity wages. 1040 ez online   Payments in kind for farm labor are not cash wages. 1040 ez online Do not count them to figure whether you are subject to FUTA tax or to figure how much tax you owe. 1040 ez online Tax rate and credit. 1040 ez online   The gross FUTA tax rate is 6. 1040 ez online 0% of the first $7,000 cash wages you pay to each employee during the year. 1040 ez online However, you are given a credit of up to 5. 1040 ez online 4% of the first $7,000 cash wages you pay to each employee for the state unemployment tax you pay. 1040 ez online If your state tax rate (experience rate) is less than 5. 1040 ez online 4%, you may still be allowed the full 5. 1040 ez online 4% credit. 1040 ez online   If you do not pay the state tax, you cannot take the credit. 1040 ez online If you are exempt from state unemployment tax for any reason, the full 6. 1040 ez online 0% rate applies. 1040 ez online See the Instructions for Form 940 for additional information. 1040 ez online More information. 1040 ez online   For more information on FUTA tax, see Publication 51 (Circular A). 1040 ez online Reporting and Paying FUTA Tax The FUTA tax is imposed on you as the employer. 1040 ez online It must not be collected or deducted from the wages of your employees. 1040 ez online Form 940. 1040 ez online   Report FUTA tax on Form 940. 1040 ez online The 2013 Form 940 is due January 31, 2014 (or February 10, 2014, if you timely deposited the full amount of your 2013 FUTA tax). 1040 ez online Deposits. 1040 ez online   If at the end of any calendar quarter you owe, but have not yet deposited, more than $500 in FUTA tax for the year, you must make a deposit by the end of the following month. 1040 ez online If the undeposited tax is $500 or less at the end of a quarter, you do not have to deposit it. 1040 ez online You can add it to the tax for the next quarter. 1040 ez online If the total undeposited tax is more than $500 at the end of the next quarter, a deposit will be required. 1040 ez online If the total undeposited tax at the end of the 4th quarter is $500 or less, you can either make a deposit or pay it with your return by the January 31, 2014, due date. 1040 ez online Electronic deposit requirement. 1040 ez online   You must use electronic funds transfer to make all federal tax deposits. 1040 ez online Generally, electronic funds transfers are made using EFTPS. 1040 ez online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. 1040 ez online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. 1040 ez online EFTPS is a free service provided by the Department of Treasury. 1040 ez online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. 1040 ez online   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). 1040 ez online To get more information about EFTPS or to enroll in EFTPS, visit www. 1040 ez online eftps. 1040 ez online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). 1040 ez online Additional information about EFTPS is also available in Publication 966. 1040 ez online Prev  Up  Next   Home   More Online Publications
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U.S. Central Command (CENTCOM)

Located between the European and Pacific combatant commands, U.S. Central Command’s area of responsibility covers the "central" area of the globe and consists of 20 countries — Afghanistan, Bahrain, Egypt, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Oman, Pakistan, Qatar, Saudi Arabia, Syria, Tajikistan, Turkmenistan, United Arab Emirates, Uzbekistan, and Yemen.

Contact the Agency or Department

Website: U.S. Central Command (CENTCOM)

Address: 7115 South Boundary Boulevard
MacDill Air Force Base, FL 33621-5101

Phone Number: (813) 828-1110

The 1040 Ez Online

1040 ez online 3. 1040 ez online   Dispositions of Business Property Table of Contents Introduction Useful Items - You may want to see: What Is a Disposition of Property?Like-kind exchanges. 1040 ez online How Do I Figure a Gain or Loss?Is My Gain or Loss Ordinary or Capital? Is My Capital Gain or Loss Short Term or Long Term? Where Do I Report Gains and Losses? Introduction If you dispose of business property, you may have a gain or loss that you report on Form 1040. 1040 ez online However, in some cases you may have a gain that is not taxable or a loss that is not deductible. 1040 ez online This chapter discusses whether you have a disposition, how to figure the gain or loss, and where to report the gain or loss. 1040 ez online Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets Form (and Instructions) 4797 Sales of Business Property Sch D (Form 1040) Capital Gains and Losses See chapter 12 for information about getting publications and forms. 1040 ez online What Is a Disposition of Property? A disposition of property includes the following transactions. 1040 ez online You sell property for cash or other property. 1040 ez online You exchange property for other property. 1040 ez online You receive money as a tenant for the cancellation of a lease. 1040 ez online You receive money for granting the exclusive use of a copyright throughout its life in a particular medium. 1040 ez online You transfer property to satisfy a debt. 1040 ez online You abandon property. 1040 ez online Your bank or other financial institution forecloses on your mortgage or repossesses your property. 1040 ez online Your property is damaged, destroyed, or stolen, and you receive property or money in payment. 1040 ez online Your property is condemned, or disposed of under the threat of condemnation, and you receive property or money in payment. 1040 ez online For details about damaged, destroyed, or stolen property, see Publication 547, Casualties, Disasters, and Thefts. 1040 ez online For details about other dispositions, see chapter 1 in Publication 544. 1040 ez online Nontaxable exchanges. 1040 ez online   Certain exchanges of property are not taxable. 1040 ez online This means any gain from the exchange is not recognized and you cannot deduct any loss. 1040 ez online Your gain or loss will not be recognized until you sell or otherwise dispose of the property you receive. 1040 ez online Like-kind exchanges. 1040 ez online   A like-kind exchange is the exchange of property for the same kind of property. 1040 ez online It is the most common type of nontaxable exchange. 1040 ez online To be a like-kind exchange, the property traded and the property received must be both of the following. 1040 ez online Business or investment property. 1040 ez online Like property. 1040 ez online   Report the exchange of like-kind property on Form 8824, Like-Kind Exchanges. 1040 ez online For more information about like-kind exchanges, see chapter 1 in Publication 544. 1040 ez online Installment sales. 1040 ez online   An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. 1040 ez online If you finance the buyer's purchase of your property, instead of having the buyer get a loan or mortgage from a third party, you probably have an installment sale. 1040 ez online   For more information about installment sales, see Publication 537, Installment Sales. 1040 ez online Sale of a business. 1040 ez online   The sale of a business usually is not a sale of one asset. 1040 ez online Instead, all the assets of the business are sold. 1040 ez online Generally, when this occurs, each asset is treated as being sold separately for determining the treatment of gain or loss. 1040 ez online   Both the buyer and seller involved in the sale of a business must report to the IRS the allocation of the sales price among the business assets. 1040 ez online Use Form 8594, Asset Acquisition Statement Under Section 1060, to provide this information. 1040 ez online The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. 1040 ez online   For more information about the sale of a business, see chapter 2 of Publication 544. 1040 ez online How Do I Figure a Gain or Loss? Table 3-1. 1040 ez online How To Figure a Gain or Loss IF your. 1040 ez online . 1040 ez online . 1040 ez online THEN you have a. 1040 ez online . 1040 ez online . 1040 ez online Adjusted basis is more than the amount realized Loss. 1040 ez online Amount realized is more than the adjusted basis Gain. 1040 ez online Basis, adjusted basis, amount realized, fair market value, and amount recognized are defined next. 1040 ez online You need to know these definitions to figure your gain or loss. 1040 ez online Basis. 1040 ez online   The cost or purchase price of property is usually its basis for figuring the gain or loss from its sale or other disposition. 1040 ez online However, if you acquired the property by gift, inheritance, or in some way other than buying it, you must use a basis other than its cost. 1040 ez online For more information about basis, see Publication 551, Basis of Assets. 1040 ez online Adjusted basis. 1040 ez online   The adjusted basis of property is your original cost or other basis plus certain additions, and minus certain deductions such as depreciation and casualty losses. 1040 ez online In determining gain or loss, the costs of transferring property to a new owner, such as selling expenses, are added to the adjusted basis of the property. 1040 ez online Amount realized. 1040 ez online   The amount you realize from a disposition is the total of all money you receive plus the fair market value of all property or services you receive. 1040 ez online The amount you realize also includes any of your liabilities that were assumed by the buyer and any liabilities to which the property you transferred is subject, such as real estate taxes or a mortgage. 1040 ez online Fair market value. 1040 ez online   Fair market value is the price at which the property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. 1040 ez online Amount recognized. 1040 ez online   Your gain or loss realized from a disposition of property is usually a recognized gain or loss for tax purposes. 1040 ez online Recognized gains must be included in gross income. 1040 ez online Recognized losses are deductible from gross income. 1040 ez online However, a gain or loss realized from certain exchanges of property is not recognized. 1040 ez online See  Nontaxable exchanges, earlier. 1040 ez online Also, you cannot deduct a loss from the disposition of property held for personal use. 1040 ez online Is My Gain or Loss Ordinary or Capital? You must classify your gains and losses as either ordinary or capital gains or losses. 1040 ez online You must do this to figure your net capital gain or loss. 1040 ez online Generally, you will have a capital gain or loss if you dispose of a capital asset. 1040 ez online For the most part, everything you own and use for personal purposes or investment is a capital asset. 1040 ez online Certain property you use in your business is not a capital asset. 1040 ez online A gain or loss from a disposition of this property is an ordinary gain or loss. 1040 ez online However, if you held the property longer than 1 year, you may be able to treat the gain or loss as a capital gain or loss. 1040 ez online These gains and losses are called section 1231 gains and losses. 1040 ez online For more information about ordinary and capital gains and losses, see chapters 2 and 3 in Publication 544. 1040 ez online Is My Capital Gain or Loss Short Term or Long Term? If you have a capital gain or loss, you must determine whether it is long term or short term. 1040 ez online Whether a gain or loss is long or short term depends on how long you own the property before you dispose of it. 1040 ez online The time you own property before disposing of it is called the holding period. 1040 ez online Table 3-2. 1040 ez online Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. 1040 ez online . 1040 ez online . 1040 ez online THEN you have a. 1040 ez online . 1040 ez online . 1040 ez online 1 year or less Short-term capital gain or loss. 1040 ez online More than 1 year Long-term capital gain or loss. 1040 ez online For more information about short-term and long-term capital gains and losses, see chapter 4 of Publication 544. 1040 ez online Where Do I Report Gains and Losses? Report gains and losses from the following dispositions on the forms indicated. 1040 ez online The instructions for the forms explain how to fill them out. 1040 ez online Dispositions of business property and depreciable property. 1040 ez online   Use Form 4797. 1040 ez online If you have taxable gain, you may also have to use Schedule D (Form 1040). 1040 ez online Like-kind exchanges. 1040 ez online   Use Form 8824, Like-Kind Exchanges. 1040 ez online You may also have to use Form 4797 and Schedule D (Form 1040). 1040 ez online Installment sales. 1040 ez online   Use Form 6252, Installment Sale Income. 1040 ez online You may also have to use Form 4797 and Schedule D (Form 1040). 1040 ez online Casualties and thefts. 1040 ez online   Use Form 4684, Casualties and Thefts. 1040 ez online You may also have to use Form 4797. 1040 ez online Condemned property. 1040 ez online   Use Form 4797. 1040 ez online You may also have to use Schedule D (Form 1040). 1040 ez online Prev  Up  Next   Home   More Online Publications