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1040ez 2010printable Tax Forms

Amend 2010 Tax ReturnCan I File 1040nr OnlineTaxact 2007 Delux EditionStudent Taxes 2013Irs Gov Form 1040a For 20122012 Irs Forms2013 Income Tax Forms 1040ez2012 1040ez Tax Form1040 Tax Form 2011Free Amended Tax Return OnlineMilitary Taxes By State1040ez InstructionsForm 1040 EzWhat If I Didn T File Taxes In 2011File State ReturnAmended FormFree Efile For State And FederalTax Table For 1040ez FormDownload Ez FormFile 2005 Taxes FreeFiling 1040xWww Irs Gov Free File1040ez 2012Free File 1040ezHow To File An Amended Tax Return 2013State Tax Filing Online For FreeWww Irs Gov Form1040x1040ez WorksheetFree E File State Taxes OnlyIt 1040xH&r Block At Home Deluxe State 2012 DownloadH&r Block Coupons 2012 Printable2011 E FileTaxact Returning UserFree 1040x Forms1040ezFree State Tax ReturnsPrintable Tax Forms 1040ezIncome Taxes For Students2009 Taxes Late

1040ez 2010printable Tax Forms

1040ez 2010printable tax forms Index A Accuracy of deposits rule, Accuracy of Deposits Rule Additional Medicare Tax, Reminders, Additional Medicare Tax withholding. 1040ez 2010printable tax forms , Additional Medicare Tax withholding adjustments. 1040ez 2010printable tax forms Adjustments, 13. 1040ez 2010printable tax forms Reporting Adjustments to Form 941 or Form 944 Aliens, nonresident, Withholding income taxes on the wages of nonresident alien employees. 1040ez 2010printable tax forms , Withholding of social security and Medicare taxes on nonresident aliens. 1040ez 2010printable tax forms Allocated tips, Allocated tips. 1040ez 2010printable tax forms Archer MSAs, Health Savings Accounts and medical savings accounts. 1040ez 2010printable tax forms Assistance (see Tax help) B Backup withholding, Nonpayroll Income Tax Withholding Business expenses, employee, Employee business expense reimbursements. 1040ez 2010printable tax forms C Calendar, Calendar Certain foreign persons treated as American employers, Foreign persons treated as American employers. 1040ez 2010printable tax forms Change of business address or responsible party, Change of Business Address or Responsible Party COBRA premium assistance credit, COBRA premium assistance credit. 1040ez 2010printable tax forms Correcting employment taxes, Correcting employment taxes. 1040ez 2010printable tax forms Correcting errors, (prior period adjustments) Form 941, Prior Period Adjustments D Delivery services, private, Private Delivery Services Depositing taxes Penalties, Deposit Penalties Rules, 11. 1040ez 2010printable tax forms Depositing Taxes Differential wage payments, Differential wage payments. 1040ez 2010printable tax forms E E-file, Electronic filing by reporting agents. 1040ez 2010printable tax forms Election worker, State and local government employers. 1040ez 2010printable tax forms Electronic, Electronic deposit requirement. 1040ez 2010printable tax forms Electronic deposit requirement, Electronic deposit requirement. 1040ez 2010printable tax forms Electronic Federal Tax Payment System (EFTPS), Electronic deposit requirement. 1040ez 2010printable tax forms Electronic filing, Electronic Filing and Payment, Electronic filing by reporting agents. 1040ez 2010printable tax forms Eligibility for employment, Hiring New Employees Employees defined, Employee status under common law. 1040ez 2010printable tax forms Employer identification number (EIN), 1. 1040ez 2010printable tax forms Employer Identification Number (EIN) Employer responsibilities, Paying Wages, Pensions, or Annuities F Family employees, 3. 1040ez 2010printable tax forms Family Employees Final return, Final return. 1040ez 2010printable tax forms Form 944, 12. 1040ez 2010printable tax forms Filing Form 941 or Form 944 Fringe benefits, Fringe benefits. 1040ez 2010printable tax forms FUTA tax, 14. 1040ez 2010printable tax forms Federal Unemployment (FUTA) Tax G Government employers, Federal Government employers. 1040ez 2010printable tax forms H Health insurance plans, Health insurance plans. 1040ez 2010printable tax forms Health Savings Accounts (HSAs), Health Savings Accounts and medical savings accounts. 1040ez 2010printable tax forms Hiring new employees, Hiring New Employees Household employees, Exceptions. 1040ez 2010printable tax forms I Income tax withholding, Income Tax Withholding, 16. 1040ez 2010printable tax forms How To Use the Income Tax Withholding Tables Information returns, Information Returns International social security agreements, International social security agreements. 1040ez 2010printable tax forms L Long-term care insurance, Health insurance plans. 1040ez 2010printable tax forms Lookback period, When To Deposit M Meals and lodging, Meals and lodging. 1040ez 2010printable tax forms Medical care, Medical care reimbursements. 1040ez 2010printable tax forms Medical savings accounts, Health Savings Accounts and medical savings accounts. 1040ez 2010printable tax forms Medicare tax, Social Security and Medicare Taxes Mileage, Per diem or other fixed allowance. 1040ez 2010printable tax forms Monthly deposit schedule, Monthly Deposit Schedule Moving expenses, Moving expenses. 1040ez 2010printable tax forms N New employees, Hiring New Employees Noncash wages, Wages not paid in money. 1040ez 2010printable tax forms Nonemployee compensation, Nonpayroll Income Tax Withholding P Part-time workers, Part-Time Workers Payroll period, 8. 1040ez 2010printable tax forms Payroll Period Penalties, Deposit Penalties, Penalties. 1040ez 2010printable tax forms Private delivery services, Private Delivery Services Publications (see Tax help) R Reconciling Forms W-2 and Forms 941 or 944, Reconciling Forms W-2, W-3, and 941 or 944. 1040ez 2010printable tax forms Recordkeeping, Recordkeeping Reimbursements, Accountable plan. 1040ez 2010printable tax forms , Nonaccountable plan. 1040ez 2010printable tax forms , Per diem or other fixed allowance. 1040ez 2010printable tax forms Repayments, wages, Wage Repayments S Seasonal employers, Exceptions. 1040ez 2010printable tax forms Semiweekly deposit schedule, Semiweekly Deposit Schedule Sick pay, Sick pay. 1040ez 2010printable tax forms Social security and Medicare taxes, Social Security and Medicare Taxes Social security number, employee, 4. 1040ez 2010printable tax forms Employee's Social Security Number (SSN) Spouse, Business Owned and Operated by Spouses Standard mileage rate, Per diem or other fixed allowance. 1040ez 2010printable tax forms Statutory employees, Employee status under common law. 1040ez 2010printable tax forms Statutory nonemployees, Statutory employees. 1040ez 2010printable tax forms Successor employer, Successor employer. 1040ez 2010printable tax forms , Successor employer. 1040ez 2010printable tax forms Supplemental wages, 7. 1040ez 2010printable tax forms Supplemental Wages T Tax help, How To Get Tax Help Telephone help, Telephone Help Third-party sick pay tax adjustment, Adjustment of tax on third-party sick pay. 1040ez 2010printable tax forms Tip Rate Determination Agreement, Tip Rate Determination and Education Program. 1040ez 2010printable tax forms Tip Rate Determination and Education Program, Tip Rate Determination and Education Program. 1040ez 2010printable tax forms Tips, 6. 1040ez 2010printable tax forms Tips, Tips treated as supplemental wages. 1040ez 2010printable tax forms Trust fund recovery penalty, Trust fund recovery penalty. 1040ez 2010printable tax forms TTY/TDD information, How To Get Tax Help U Unemployment tax, federal, 14. 1040ez 2010printable tax forms Federal Unemployment (FUTA) Tax V Vacation pay, Vacation pay. 1040ez 2010printable tax forms W Wage repayments, Wage Repayments Wages defined, 5. 1040ez 2010printable tax forms Wages and Other Compensation Wages not paid in money, Wages not paid in money. 1040ez 2010printable tax forms Withholding Backup, Nonpayroll Income Tax Withholding Certificate, Using Form W-4 to figure withholding. 1040ez 2010printable tax forms Exemption, Exemption from federal income tax withholding. 1040ez 2010printable tax forms Fringe benefits, Withholding on fringe benefits. 1040ez 2010printable tax forms Income tax, Income Tax Withholding Levies, Amounts exempt from levy on wages, salary, and other income. 1040ez 2010printable tax forms Nonresident aliens, Withholding of social security and Medicare taxes on nonresident aliens. 1040ez 2010printable tax forms Pensions and annuities, Nonpayroll Income Tax Withholding Percentage method, Percentage Method Social security and Medicare taxes, Social Security and Medicare Taxes Table instructions, 16. 1040ez 2010printable tax forms How To Use the Income Tax Withholding Tables Tips, Tips treated as supplemental wages. 1040ez 2010printable tax forms Wage bracket method, Wage Bracket Method Z Zero wage return, Paying Wages, Pensions, or Annuities Prev  Up     Home   More Online Publications
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Historical Documents

Find historical documents such as the Bill of Rights, Constitution of the United States, Declaration of Independence, and more.


  • Declaration of Independence (1776)  – Drafted by Thomas Jefferson in June 1776, this document is the nation's most cherished symbol of liberty. It set forth a list of grievances against the King of England in order to justify breaking the ties between the colonies and the mother country.
  • Articles of Confederation (1777)  – This document served as the United States' first constitution, and was in force from March 1, 1781, until 1789 when the present day Constitution went into effect.
  • Treaty of Paris (1783)  – This treaty between the American colonies and Great Britain formally recognized the United States as an independent nation.
  • Constitution of the United States (1787)  – This four-page document, signed on September 17, 1787, established the government of the United States.
  • Federalist Papers (1787-1788)  – This series of essays was published in newspapers by James Madison, Alexander Hamilton, and John Jay to promote the ratification of the Constitution.
  • Bill of Rights (1791)  – The First Congress proposed 12 amendements to the Constitution and the 10 that were approved became known as the Bill of Rights.
  • Gettysburg Address (1863)  – President Lincoln gave this speech at the dedication of the cemetery for the Union war dead after the Civil War battle in Gettysburg, PA.
  • Emancipation Proclamation (1863)  – President Lincoln issued the Proclamation announcing that persons held as slaves shall be free.
  • Find More Documents  – Explore 100 milestone documents of American history, find tools for educators, and more.

The 1040ez 2010printable Tax Forms

1040ez 2010printable tax forms 3. 1040ez 2010printable tax forms   Savings Incentive Match Plans for Employees (SIMPLE) Table of Contents Introduction What Is a SIMPLE Plan?Eligible Employees How Are Contributions Made? How Much Can Be Contributed on Your Behalf?Matching contributions less than 3%. 1040ez 2010printable tax forms Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez 2010printable tax forms When Can You Withdraw or Use Assets?Are Distributions Taxable? Introduction This chapter is for employees who need information about savings incentive match plans for employees (SIMPLE plans). 1040ez 2010printable tax forms It explains what a SIMPLE plan is, contributions to a SIMPLE plan, and distributions from a SIMPLE plan. 1040ez 2010printable tax forms Under a SIMPLE plan, SIMPLE retirement accounts for participating employees can be set up either as: Part of a 401(k) plan, or A plan using IRAs (SIMPLE IRA). 1040ez 2010printable tax forms This chapter only discusses the SIMPLE plan rules that relate to SIMPLE IRAs. 1040ez 2010printable tax forms See chapter 3 of Publication 560 for information on any special rules for SIMPLE plans that do not use IRAs. 1040ez 2010printable tax forms If your employer maintains a SIMPLE plan, you must be notified, in writing, that you can choose the financial institution that will serve as trustee for your SIMPLE IRA and that you can roll over or transfer your SIMPLE IRA to another financial institution. 1040ez 2010printable tax forms See Rollovers and Transfers Exception, later under When Can You Withdraw or Use Assets. 1040ez 2010printable tax forms What Is a SIMPLE Plan? A SIMPLE plan is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. 1040ez 2010printable tax forms See chapter 3 of Publication 560 for information on the requirements employers must satisfy to set up a SIMPLE plan. 1040ez 2010printable tax forms A SIMPLE plan is a written agreement (salary reduction agreement) between you and your employer that allows you, if you are an eligible employee (including a self-employed individual), to choose to: Reduce your compensation (salary) by a certain percentage each pay period, and Have your employer contribute the salary reductions to a SIMPLE IRA on your behalf. 1040ez 2010printable tax forms These contributions are called salary reduction contributions. 1040ez 2010printable tax forms All contributions under a SIMPLE IRA plan must be made to SIMPLE IRAs, not to any other type of IRA. 1040ez 2010printable tax forms The SIMPLE IRA can be an individual retirement account or an individual retirement annuity, described in chapter 1. 1040ez 2010printable tax forms Contributions are made on behalf of eligible employees. 1040ez 2010printable tax forms (See Eligible Employees below. 1040ez 2010printable tax forms ) Contributions are also subject to various limits. 1040ez 2010printable tax forms (See How Much Can Be Contributed on Your Behalf , later. 1040ez 2010printable tax forms ) In addition to salary reduction contributions, your employer must make either matching contributions or nonelective contributions. 1040ez 2010printable tax forms See How Are Contributions Made , later. 1040ez 2010printable tax forms You may be able to claim a credit for contributions to your SIMPLE plan. 1040ez 2010printable tax forms For more information, see chapter 4. 1040ez 2010printable tax forms Eligible Employees You must be allowed to participate in your employer's SIMPLE plan if you: Received at least $5,000 in compensation from your employer during any 2 years prior to the current year, and Are reasonably expected to receive at least $5,000 in compensation during the calendar year for which contributions are made. 1040ez 2010printable tax forms Self-employed individual. 1040ez 2010printable tax forms   For SIMPLE plan purposes, the term employee includes a self-employed individual who received earned income. 1040ez 2010printable tax forms Excludable employees. 1040ez 2010printable tax forms   Your employer can exclude the following employees from participating in the SIMPLE plan. 1040ez 2010printable tax forms Employees whose retirement benefits are covered by a collective bargaining agreement (union contract). 1040ez 2010printable tax forms Employees who are nonresident aliens and received no earned income from sources within the United States. 1040ez 2010printable tax forms Employees who would not have been eligible employees if an acquisition, disposition, or similar transaction had not occurred during the year. 1040ez 2010printable tax forms Compensation. 1040ez 2010printable tax forms   For purposes of the SIMPLE plan rules, your compensation for a year generally includes the following amounts. 1040ez 2010printable tax forms Wages, tips, and other pay from your employer that is subject to income tax withholding. 1040ez 2010printable tax forms Deferred amounts elected under any 401(k) plans, 403(b) plans, government (section 457) plans, SEP plans, and SIMPLE plans. 1040ez 2010printable tax forms Self-employed individual compensation. 1040ez 2010printable tax forms   For purposes of the SIMPLE plan rules, if you are self-employed, your compensation for a year is your net earnings from self-employment (Schedule SE (Form 1040), Section A, line 4, or Section B, line 6) before subtracting any contributions made to a SIMPLE IRA on your behalf. 1040ez 2010printable tax forms   For these purposes, net earnings from self-employment include services performed while claiming exemption from self-employment tax as a member of a group conscientiously opposed to social security benefits. 1040ez 2010printable tax forms How Are Contributions Made? Contributions under a salary reduction agreement are called salary reduction contributions. 1040ez 2010printable tax forms They are made on your behalf by your employer. 1040ez 2010printable tax forms Your employer must also make either matching contributions or nonelective contributions. 1040ez 2010printable tax forms Salary reduction contributions. 1040ez 2010printable tax forms   During the 60-day period before the beginning of any year, and during the 60-day period before you are eligible, you can choose salary reduction contributions expressed either as a percentage of compensation, or as a specific dollar amount (if your employer offers this choice). 1040ez 2010printable tax forms You can choose to cancel the election at any time during the year. 1040ez 2010printable tax forms   Salary reduction contributions are also referred to as “elective deferrals. 1040ez 2010printable tax forms ”   Your employer cannot place restrictions on the contributions amount (such as by limiting the contributions percentage), except to comply with the salary reduction contributions limit, discussed under How Much Can Be Contributed on Your Behalf, later. 1040ez 2010printable tax forms Matching contributions. 1040ez 2010printable tax forms   Unless your employer chooses to make nonelective contributions, your employer must make contributions equal to the salary reduction contributions you choose (elect), but only up to certain limits. 1040ez 2010printable tax forms See How Much Can Be Contributed on Your Behalf below. 1040ez 2010printable tax forms These contributions are in addition to the salary reduction contributions and must be made to the SIMPLE IRAs of all eligible employees (defined earlier) who chose salary reductions. 1040ez 2010printable tax forms These contributions are referred to as matching contributions. 1040ez 2010printable tax forms   Matching contributions on behalf of a self-employed individual are not treated as salary reduction contributions. 1040ez 2010printable tax forms Nonelective contributions. 1040ez 2010printable tax forms   Instead of making matching contributions, your employer may be able to choose to make nonelective contributions on behalf of all eligible employees. 1040ez 2010printable tax forms These nonelective contributions must be made on behalf of each eligible employee who has at least $5,000 of compensation from your employer, whether or not the employee chose salary reductions. 1040ez 2010printable tax forms   One of the requirements your employer must satisfy is notifying the employees that the election was made. 1040ez 2010printable tax forms For other requirements that your employer must satisfy, see chapter 3 of Publication 560. 1040ez 2010printable tax forms How Much Can Be Contributed on Your Behalf? The limits on contributions to a SIMPLE IRA vary with the type of contribution that is made. 1040ez 2010printable tax forms Salary reduction contributions limit. 1040ez 2010printable tax forms   Salary reduction contributions (employee-chosen contributions or elective deferrals) that your employer can make on your behalf under a SIMPLE plan are limited to $12,000 for 2013. 1040ez 2010printable tax forms The limitation remains at $12,000 for 2014. 1040ez 2010printable tax forms If you are a participant in any other employer plans during 2013 and you have elective salary reductions or deferred compensation under those plans, the salary reduction contributions under the SIMPLE plan also are included in the annual limit of $17,500 for 2013 on exclusions of salary reductions and other elective deferrals. 1040ez 2010printable tax forms You, not your employer, are responsible for monitoring compliance with these limits. 1040ez 2010printable tax forms Additional elective deferrals can be contributed to your SIMPLE plan if: You reached age 50 by the end of 2013, and No other elective deferrals can be made for you to the plan for the year because of limits or restrictions, such as the regular annual limit. 1040ez 2010printable tax forms The most that can be contributed in additional elective deferrals to your SIMPLE plan is the lesser of the following two amounts. 1040ez 2010printable tax forms $2,500 for 2013, or Your compensation for the year reduced by your other elective deferrals for the year. 1040ez 2010printable tax forms The additional deferrals are not subject to any other contribution limit and are not taken into account in applying other contribution limits. 1040ez 2010printable tax forms The additional deferrals are not subject to the nondiscrimination rules as long as all eligible participants are allowed to make them. 1040ez 2010printable tax forms Matching employer contributions limit. 1040ez 2010printable tax forms   Generally, your employer must make matching contributions to your SIMPLE IRA in an amount equal to your salary reduction contributions. 1040ez 2010printable tax forms These matching contributions cannot be more than 3% of your compensation for the calendar year. 1040ez 2010printable tax forms See Matching contributions less than 3% below. 1040ez 2010printable tax forms Example 1. 1040ez 2010printable tax forms In 2013, Joshua was a participant in his employer's SIMPLE plan. 1040ez 2010printable tax forms His compensation, before SIMPLE plan contributions, was $41,600 ($800 per week). 1040ez 2010printable tax forms Instead of taking it all in cash, Joshua elected to have 12. 1040ez 2010printable tax forms 5% of his weekly pay ($100) contributed to his SIMPLE IRA. 1040ez 2010printable tax forms For the full year, Joshua's salary reduction contributions were $5,200, which is less than the $12,000 limit on these contributions. 1040ez 2010printable tax forms Under the plan, Joshua's employer was required to make matching contributions to Joshua's SIMPLE IRA. 1040ez 2010printable tax forms Because his employer's matching contributions must equal Joshua's salary reductions, but cannot be more than 3% of his compensation (before salary reductions) for the year, his employer's matching contribution was limited to $1,248 (3% of $41,600). 1040ez 2010printable tax forms Example 2. 1040ez 2010printable tax forms Assume the same facts as in Example 1 , except that Joshua's compensation for the year was $408,163 and he chose to have 2. 1040ez 2010printable tax forms 94% of his weekly pay contributed to his SIMPLE IRA. 1040ez 2010printable tax forms In this example, Joshua's salary reduction contributions for the year (2. 1040ez 2010printable tax forms 94% × $408,163) were equal to the 2013 limit for salary reduction contributions ($12,000). 1040ez 2010printable tax forms Because 3% of Joshua's compensation ($12,245) is more than the amount his employer was required to match ($12,000), his employer's matching contributions were limited to $12,000. 1040ez 2010printable tax forms In this example, total contributions made on Joshua's behalf for the year were $24,000 ($12,000 (Joshua's contributions) + $12,000 (matching contributions)), the maximum contributions permitted under a SIMPLE IRA for 2013. 1040ez 2010printable tax forms Matching contributions less than 3%. 1040ez 2010printable tax forms   Your employer can reduce the 3% limit on matching contributions for a calendar year, but only if: The limit is not reduced below 1%, The limit is not reduced for more than 2 years out of the 5-year period that ends with (and includes) the year for which the election is effective, and Employees are notified of the reduced limit within a reasonable period of time before the 60-day election period during which they can enter into salary reduction agreements. 1040ez 2010printable tax forms   For purposes of applying the rule in item (2) in determining whether the limit was reduced below 3% for the year, any year before the first year in which your employer (or a former employer) maintains a SIMPLE IRA plan will be treated as a year for which the limit was 3%. 1040ez 2010printable tax forms If your employer chooses to make nonelective contributions for a year, that year also will be treated as a year for which the limit was 3%. 1040ez 2010printable tax forms Nonelective employer contributions limit. 1040ez 2010printable tax forms   If your employer chooses to make nonelective contributions, instead of matching contributions, to each eligible employee's SIMPLE IRA, contributions must be 2% of your compensation for the entire year. 1040ez 2010printable tax forms For 2013, only $255,000 of your compensation can be taken into account to figure the contribution limit. 1040ez 2010printable tax forms   Your employer can substitute the 2% nonelective contribution for the matching contribution for a year if both of the following requirements are met. 1040ez 2010printable tax forms Eligible employees are notified that a 2% nonelective contribution will be made instead of a matching contribution. 1040ez 2010printable tax forms This notice is provided within a reasonable period during which employees can enter into salary reduction agreements. 1040ez 2010printable tax forms Example 3. 1040ez 2010printable tax forms Assume the same facts as in Example 2 , except that Joshua's employer chose to make nonelective contributions instead of matching contributions. 1040ez 2010printable tax forms Because his employer's nonelective contributions are limited to 2% of up to $255,000 of Joshua's compensation, his employer's contribution to Joshua's SIMPLE IRA was limited to $5,100. 1040ez 2010printable tax forms In this example, total contributions made on Joshua's behalf for the year were $17,100 (Joshua's salary reductions of $12,000 plus his employer's contribution of $5,100). 1040ez 2010printable tax forms Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez 2010printable tax forms   If you mistakenly roll over or transfer an amount from a traditional IRA to a SIMPLE IRA, you can later recharacterize the amount as a contribution to another traditional IRA. 1040ez 2010printable tax forms For more information, see Recharacterizations in chapter 1. 1040ez 2010printable tax forms Recharacterizing employer contributions. 1040ez 2010printable tax forms   You cannot recharacterize employer contributions (including elective deferrals) under a SEP or SIMPLE plan as contributions to another IRA. 1040ez 2010printable tax forms SEPs are discussed in chapter 2 of Publication 560. 1040ez 2010printable tax forms SIMPLE plans are discussed in this chapter. 1040ez 2010printable tax forms Converting from a SIMPLE IRA. 1040ez 2010printable tax forms   Generally, you can convert an amount in your SIMPLE IRA to a Roth IRA under the same rules explained in chapter 1 under Converting From Any Traditional IRA Into a Roth IRA . 1040ez 2010printable tax forms    However, you cannot convert any amount distributed from the SIMPLE IRA during the 2-year period beginning on the date you first participated in any SIMPLE IRA plan maintained by your employer. 1040ez 2010printable tax forms When Can You Withdraw or Use Assets? Generally, the same distribution (withdrawal) rules that apply to traditional IRAs apply to SIMPLE IRAs. 1040ez 2010printable tax forms These rules are discussed in chapter 1. 1040ez 2010printable tax forms Your employer cannot restrict you from taking distributions from a SIMPLE IRA. 1040ez 2010printable tax forms Are Distributions Taxable? Generally, distributions from a SIMPLE IRA are fully taxable as ordinary income. 1040ez 2010printable tax forms If the distribution is an early distribution (discussed in chapter 1), it may be subject to the additional tax on early distributions. 1040ez 2010printable tax forms See Additional Tax on Early Distributions, later. 1040ez 2010printable tax forms Rollovers and Transfers Exception Generally, rollovers and trustee-to-trustee transfers are not taxable distributions. 1040ez 2010printable tax forms Two-year rule. 1040ez 2010printable tax forms   To qualify as a tax-free rollover (or a tax-free trustee-to-trustee transfer), a rollover distribution (or a transfer) made from a SIMPLE IRA during the 2-year period beginning on the date on which you first participated in your employer's SIMPLE plan must be contributed (or transferred) to another SIMPLE IRA. 1040ez 2010printable tax forms The 2-year period begins on the first day on which contributions made by your employer are deposited in your SIMPLE IRA. 1040ez 2010printable tax forms   After the 2-year period, amounts in a SIMPLE IRA can be rolled over or transferred tax free to an IRA other than a SIMPLE IRA, or to a qualified plan, a tax-sheltered annuity plan (section 403(b) plan), or deferred compensation plan of a state or local government (section 457 plan). 1040ez 2010printable tax forms Additional Tax on Early Distributions The additional tax on early distributions (discussed in chapter 1) applies to SIMPLE IRAs. 1040ez 2010printable tax forms If a distribution is an early distribution and occurs during the 2-year period following the date on which you first participated in your employer's SIMPLE plan, the additional tax on early distributions is increased from 10% to 25%. 1040ez 2010printable tax forms If a rollover distribution (or transfer) from a SIMPLE IRA does not satisfy the 2-year rule, and is otherwise an early distribution, the additional tax imposed because of the early distribution is increased from 10% to 25% of the amount distributed. 1040ez 2010printable tax forms Prev  Up  Next   Home   More Online Publications