Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

1040ez Fill In Form

Federal Income Tax Amended ReturnFile 2009 Taxes For FreeFreetaxusa 2006Free 2012 TaxesAmmended ReturnAmend1040aWww Irs Gov EitcDownload A 1040ez Federal Tax FormHr Block 2011 Tax SoftwareTax TableWww Irs Gov Efile Com2010 Ez Tax FormAmended 2012 Tax ReturnTaxslayer ComPrintable Irs Tax Forms 2011Vita Free Tax Preparation1040ez Printable Tax FormsI Need To File My 2012 Taxes For FreeWhere Can I File My 2011 TaxesEfile Tax Return For Free1040ez Fill InHrblock Com MyreturnstatusFree E FileFor 1040xWhere To File 1040xTax Software 2011Amended Tax2012 Tax FilingIrs Forms 10402013 Tax Forms 1040ezState Tax Forms FreeH And R Block File OnlineFillable State Tax FormsFill Out 1040ez Online1040ez Income Tax FormEz Tax Return1040 Ez Online1040ezFiling 2010 Taxes Late Online Free

1040ez Fill In Form

1040ez fill in form Publication 15-A - Introductory Material Table of Contents Future Developments What's New Reminders Introduction Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 15-A, such as legislation enacted after it was published, go to www. 1040ez fill in form irs. 1040ez fill in form gov/pub15a. 1040ez fill in form What's New Social security and Medicare tax for 2014. 1040ez fill in form  The social security tax rate is 6. 1040ez fill in form 2% each for the employee and employer, unchanged from 2013. 1040ez fill in form The social security wage base limit is $117,000. 1040ez fill in form The Medicare tax rate is 1. 1040ez fill in form 45% each for the employee and employer, unchanged from 2013. 1040ez fill in form There is no wage base limit for Medicare tax. 1040ez fill in form Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. 1040ez fill in form Social security and Medicare taxes apply to election workers who are paid $1,600 or more in cash or an equivalent form of compensation. 1040ez fill in form Withholding allowance. 1040ez fill in form  The 2014 amount for one withholding allowance on an annual basis is $3,950. 1040ez fill in form Same-sex marriage. 1040ez fill in form  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. 1040ez fill in form For more information, see Revenue Ruling 2013-17, 2013-38 I. 1040ez fill in form R. 1040ez fill in form B. 1040ez fill in form 201, available at www. 1040ez fill in form irs. 1040ez fill in form gov/irb/2013-38_IRB/ar07. 1040ez fill in form html. 1040ez fill in form Notice 2013-61 provides special administrative procedures for employers to make claims for refunds or adjustments of overpayments of social security and Medicare taxes with respect to certain same-sex spouse benefits before expiration of the period of limitations. 1040ez fill in form Notice 2013-61, 2013-44 I. 1040ez fill in form R. 1040ez fill in form B. 1040ez fill in form 432, is available at www. 1040ez fill in form irs. 1040ez fill in form gov/irb/2013-44_IRB/ar10. 1040ez fill in form html. 1040ez fill in form Reminders Additional Medicare Tax withholding. 1040ez fill in form . 1040ez fill in form  In addition to withholding Medicare tax at 1. 1040ez fill in form 45%, you must withhold a 0. 1040ez fill in form 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. 1040ez fill in form 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. 1040ez fill in form Additional Medicare Tax is only imposed on the employee. 1040ez fill in form There is no employer share of Additional Medicare Tax. 1040ez fill in form All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. 1040ez fill in form 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. 1040ez fill in form For more information on Additional Medicare Tax, visit IRS. 1040ez fill in form gov and enter “Additional Medicare Tax” in the search box. 1040ez fill in form Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans. 1040ez fill in form  The work opportunity tax credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2014. 1040ez fill in form 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. 1040ez fill in form For more information, visit IRS. 1040ez fill in form gov and enter “work opportunity tax credit” in the search box. 1040ez fill in form COBRA premium assistance credit. 1040ez fill in form  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. 1040ez fill in form For more information, see COBRA premium assistance credit in Publication 15 (Circular E). 1040ez fill in form Federal tax deposits must be made by electronic funds transfer. 1040ez fill in form  You must use electronic funds transfer to make all federal tax deposits. 1040ez fill in form Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). 1040ez fill in form 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. 1040ez fill in form Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. 1040ez fill in form EFTPS is a free service provided by the Department of Treasury. 1040ez fill in form Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. 1040ez fill in form For more information on making federal tax deposits, see How To Deposit in Publication 15 (Circular E). 1040ez fill in form To get more information about EFTPS or to enroll in EFTPS, visit www. 1040ez fill in form eftps. 1040ez fill in form gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). 1040ez fill in form Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. 1040ez fill in form You must receive written notice from the IRS to file Form 944. 1040ez fill in form  If you have been filing Forms 941, Employer's QUARTERLY Federal Tax Return (or Forms 941-SS, Employer's QUARTERLY Federal Tax Return—American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U. 1040ez fill in form S. 1040ez fill in form Virgin Islands, or Formularios 941-PR, Planilla para la Declaración Federal TRIMESTRAL del Patrono), and believe your employment taxes for the calendar year will be $1,000 or less, and you would like to file Form 944, Employer's ANNUAL Federal Tax Return, instead of Forms 941, you must contact the IRS to request to file Form 944. 1040ez fill in form You must receive written notice from the IRS to file Form 944 instead of Forms 941 before you may file this form. 1040ez fill in form For more information on requesting to file Form 944, visit IRS. 1040ez fill in form gov and enter “file employment taxes annually” in the search box. 1040ez fill in form Employers can request to file Forms 941 instead of Form 944. 1040ez fill in form  If you received notice from the IRS and have been filing Form 944 but would like to file Forms 941 instead, you must contact the IRS to request to file Forms 941. 1040ez fill in form You must receive written notice from the IRS to file Forms 941 instead of Form 944 before you may file these forms. 1040ez fill in form For more information on requesting to file Form 944, visit IRS. 1040ez fill in form gov and enter “file employment taxes annually” in the search box. 1040ez fill in form Aggregate Form 941 filers. 1040ez fill in form  Agents must complete Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, when filing an aggregate Form 941. 1040ez fill in form Aggregate Forms 941 can only be filed by agents approved by the IRS under section 3504 of the Internal Revenue Code. 1040ez fill in form To request approval to act as an agent for an employer, the agent must file Form 2678, Employer/Payer Appointment of Agent, with the IRS. 1040ez fill in form Aggregate Form 940 filers. 1040ez fill in form  Agents must complete Schedule R (Form 940), Allocation Schedule for Aggregate Form 940 Filers, when filing an aggregate Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. 1040ez fill in form Aggregate Forms 940 may only be filed by agents acting on behalf of home care service recipients who receive home care services through a program administered by a federal, state, or local government. 1040ez fill in form To request approval to act as an agent on behalf of home care service recipients, the agent must file Form 2678 with the IRS. 1040ez fill in form Electronic filing and payment. 1040ez fill in form  Now, more than ever before, businesses can enjoy the benefits of filing and paying their federal taxes electronically. 1040ez fill in form Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make filing and payment easier. 1040ez fill in form Spend less time and worry about taxes and more time running your business. 1040ez fill in form Use e-file and the Electronic Federal Tax Payment System (EFTPS) to your benefit. 1040ez fill in form For e-file, visit www. 1040ez fill in form irs. 1040ez fill in form gov/efile for additional information. 1040ez fill in form For EFTPS, visit www. 1040ez fill in form eftps. 1040ez fill in form gov or call EFTPS Customer Service at 1-800-555-4477 or 1-800-733-4829 (TDD). 1040ez fill in form Electronic submission of Forms W-4, W-4P, W-4S and W-4V. 1040ez fill in form  You may set up a system to electronically receive any or all of the following forms (and their Spanish versions, if available) from an employee or payee. 1040ez fill in form Form W-4, Employee's Withholding Allowance Certificate. 1040ez fill in form Form W-4P, Withholding Certificate for Pension or Annuity Payments. 1040ez fill in form Form W-4S, Request for Federal Income Tax Withholding From Sick Pay. 1040ez fill in form Form W-4V, Voluntary Withholding Request. 1040ez fill in form For each form that you establish an electronic submission system for, you must meet each of the following five requirements. 1040ez fill in form The electronic system must ensure that the information received by the payer is the information sent by the payee. 1040ez fill in form The system must document all occasions of user access that result in a submission. 1040ez fill in form In addition, the design and operation of the electronic system, including access procedures, must make it reasonably certain that the person accessing the system and submitting the form is the person identified on the form. 1040ez fill in form The electronic system must provide exactly the same information as the paper form. 1040ez fill in form The electronic submission must be signed with an electronic signature by the payee whose name is on the form. 1040ez fill in form The electronic signature must be the final entry in the submission. 1040ez fill in form Upon request, you must furnish a hard copy of any completed electronic form to the IRS and a statement that, to the best of the payer's knowledge, the electronic form was submitted by the named payee. 1040ez fill in form The hard copy of the electronic form must provide exactly the same information as, but need not be a facsimile of, the paper form. 1040ez fill in form For Form W-4, the signature must be under penalty of perjury, and must contain the same language that appears on the paper version of the form. 1040ez fill in form The electronic system must inform the employee that he or she must make a declaration contained in the perjury statement and that the declaration is made by signing the Form W-4. 1040ez fill in form You must also meet all recordkeeping requirements that apply to the paper forms. 1040ez fill in form For more information, see: Regulations sections 31. 1040ez fill in form 3402(f)(5)-1(c) (for Form W-4), and Announcement 99-6 (for Forms W-4P, W-4S, and W-4V). 1040ez fill in form You can find Announcement 99-6 on page 24 of Internal Revenue Bulletin 1999-4 at www. 1040ez fill in form irs. 1040ez fill in form gov/pub/irs-irbs/irb99-04. 1040ez fill in form pdf. 1040ez fill in form Additional employment tax information. 1040ez fill in form  Visit the IRS website at www. 1040ez fill in form irs. 1040ez fill in form gov/businesses and click on the Employment Taxes link under Businesses Topics. 1040ez fill in form Telephone help. 1040ez fill in form  You can call the IRS Business and Specialty Tax Line with your employment tax questions at 1-800-829-4933. 1040ez fill in form Help for people with disabilities. 1040ez fill in form  You may call 1-800-829-4059 (TDD/TTY for persons who are deaf, heard of hearing, or have a speech disability) with any tax question or to order forms and publications. 1040ez fill in form You may also use this number for assistance with unresolved tax problems. 1040ez fill in form Furnishing Form W-2 to employees electronically. 1040ez fill in form  You may set up a system to furnish Form W-2, Wage and Tax Statement, electronically. 1040ez fill in form Each employee participating must consent (either electronically or by paper document) to receive his or her Form W-2 electronically, and you must notify the employee of all hardware and software requirements to receive the form. 1040ez fill in form You may not send a Form W-2 electronically to any employee who does not consent or who has revoked consent previously provided. 1040ez fill in form To furnish Forms W-2 electronically, you must meet the following disclosure requirements and provide a clear and conspicuous statement of each requirement to your employees. 1040ez fill in form The employee must be informed that he or she will receive a paper Form W-2 if consent is not given to receive it electronically. 1040ez fill in form The employee must be informed of the scope and duration of the consent. 1040ez fill in form The employee must be informed of any procedure for obtaining a paper copy of his or her Form W-2 and whether or not the request for a paper statement is treated as a withdrawal of his or her consent to receiving his or her Form W-2 electronically. 1040ez fill in form The employee must be notified about how to withdraw a consent and the effective date and manner by which the employer will confirm the withdrawn consent. 1040ez fill in form The employee must also be notified that the withdrawn consent does not apply to the previously issued Forms W-2. 1040ez fill in form The employee must be informed about any conditions under which electronic Forms W-2 will no longer be furnished (for example, termination of employment). 1040ez fill in form The employee must be informed of any procedures for updating his or her contact information that enables the employer to provide electronic Forms W-2. 1040ez fill in form The employer must notify the employee of any changes to the employer's contact information. 1040ez fill in form You must furnish electronic Forms W-2 by the same due date as the paper Forms W-2. 1040ez fill in form For more information on furnishing Form W-2 to employees electronically, see Regulations section 31. 1040ez fill in form 6051-1(j). 1040ez fill in form Photographs of missing children. 1040ez fill in form  The IRS is a proud partner with the National Center for Missing and Exploited Children. 1040ez fill in form Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 1040ez fill in form You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 1040ez fill in form Introduction This publication supplements Publication 15 (Circular E). 1040ez fill in form It contains specialized and detailed employment tax information supplementing the basic information provided in Publication 15 (Circular E). 1040ez fill in form This publication also contains tables for withholding on distributions of Indian gaming profits to tribal members. 1040ez fill in form Publication 15-B, Employer's Tax Guide to Fringe Benefits, contains information about the employment tax treatment of various types of noncash compensation. 1040ez fill in form Ordering publications and forms. 1040ez fill in form   See Ordering Employer Tax Forms and Publications in Publication 15 (Circular E) and How To Get Tax Help , later, for more information on how to obtain forms and publications. 1040ez fill in form Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 505 Tax Withholding and Estimated Tax 515 Withholding of Tax on Nonresident Aliens and Foreign Entities 583 Starting a Business and Keeping Records 1635 Employer Identification Number: Understanding Your EIN Comments and suggestions. 1040ez fill in form   We welcome your comments about this publication and your suggestions for future editions. 1040ez fill in form    You can write to us at the following address: Internal Revenue Service Tax Forms & Publications Division 1111 Constitution Ave. 1040ez fill in form NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 1040ez fill in form Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040ez fill in form   You can also send us comments from www. 1040ez fill in form irs. 1040ez fill in form gov/formspubs. 1040ez fill in form Click on More Information and then click on Comment on Tax Forms and Publications. 1040ez fill in form   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications. 1040ez fill in form Prev  Up  Next   Home   More Online Publications
Español

The 1040ez Fill In Form

1040ez fill in form Tax Changes for Businesses Table of Contents 2001 ChangesNew 5-Year Carryback Rule for Net Operating Losses (NOLs) Electronic Form 1099 Tax Incentives for New York Liberty Zone Other 2001 Changes 2002 ChangesNonaccrual-Experience Method Issuance of Qualified Zone Academy Bonds Depletion Work Opportunity Credit Expanded in New York Liberty Zone Credit For Pension Plan Startup Costs Welfare-to-Work Credit Extended Work Opportunity Credit Extended Electric and Clean-Fuel Vehicles Renewable Electricity Production Credit Later ChangesSpecial Depreciation Allowance Extension of Placed in Service Date Special Liberty Zone Depreciation Allowance for New and Used Property Depreciation of Property Used on Indian Reservations Indian Employment Credit Extended 2001 Changes New 5-Year Carryback Rule for Net Operating Losses (NOLs) If you have an NOL from a tax year ending during 2001 or 2002, you must generally carry back the entire amount of the NOL to the 5 tax years before the NOL year (the carryback period). 1040ez fill in form However, you can still choose to use the previous carryback period. 1040ez fill in form You also can choose not to carry back an NOL and only carry it forward. 1040ez fill in form Individuals, estates, and trusts can file Form 1045, Application for Tentative Refund. 1040ez fill in form Corporations can file Form 1139, Corporation Application for Tentative Refund. 1040ez fill in form The instructions for these forms will be revised to reflect the new law. 1040ez fill in form Electronic Form 1099 For tax years ending after March 9, 2002, most Forms 1099 can be furnished electronically if the recipient consents, according to IRS regulations, to receive it that way. 1040ez fill in form Tax Incentives for New York Liberty Zone New tax benefits are provided for the parts of New York City damaged in the terrorist attacks on September 11, 2001. 1040ez fill in form These benefits apply to the newly created New York Liberty Zone, which is the area located on or south of Canal Street, East Broadway (east of its intersection with Canal Street), or Grand Street (east of its intersection with East Broadway), in the Borough of Manhattan. 1040ez fill in form Tax benefits for the New York Liberty Zone include the following. 1040ez fill in form A special depreciation allowance equal to 30% of the adjusted basis of qualified Liberty Zone property. 1040ez fill in form It is allowed for the year the property is placed in service. 1040ez fill in form No alternative minimum tax depreciation adjustment for qualified Liberty Zone property. 1040ez fill in form Classification of Liberty Zone leasehold improvement property as 5-year property. 1040ez fill in form Authorization of the issuance of tax-exempt New York Liberty bonds to finance the acquisition, construction, reconstruction, and renovation of nonresidential real property, residential rental property, and public utility property in the Liberty Zone. 1040ez fill in form An increased section 179 deduction for certain Liberty Zone property. 1040ez fill in form Extension of the replacement period from 2 years to 5 years for certain property involuntarily converted as a result of the terrorist attacks on September 11, 2001, but only if substantially all of the use of the replacement property is in New York City. 1040ez fill in form For more information about involuntary conversions, see Postponement of Gain in Publication 547, Casualties, Disasters, and Thefts. 1040ez fill in form In addition, for 2002 and 2003, the work opportunity credit is expanded by creating a new targeted group, consisting generally of employees who work in the Liberty Zone or, in certain cases, in New York City outside the Liberty Zone. 1040ez fill in form For more information, see Work Opportunity Credit Expanded in New York Liberty Zone under 2002 Changes, later. 1040ez fill in form For more information about the 30% special depreciation allowance, Liberty Zone leasehold improvement property, or increased section 179 deduction, see New York Liberty Zone Benefits, in chapter 5. 1040ez fill in form In addition, the tax benefits for the Liberty Zone will be covered in a new edition of Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities, available later in 2002. 1040ez fill in form Other 2001 Changes Other changes are discussed in the following chapters. 1040ez fill in form Chapter 4 Car Expenses Chapter 5 Depreciation 2002 Changes Nonaccrual-Experience Method Under current law, if you perform services and use an accrual method of accounting, you do not accrue income which, based on experience, you expect to be uncollectible. 1040ez fill in form Beginning in 2002, this rule only applies if you perform services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, and consulting, or your average annual gross receipts for the 3 prior tax years does not exceed $5,000,000. 1040ez fill in form As under current law, the nonaccrual-experience method will not apply to amounts on which you charge interest or a late payment penalty. 1040ez fill in form For more information, see Nonaccrual-Experience Method in chapter 11 of Publication 535, Business Expenses. 1040ez fill in form Issuance of Qualified Zone Academy Bonds State and local governments issue qualified zone academy bonds to raise funds for the use of qualified zone academies. 1040ez fill in form The amount of bonds that may be issued was limited to $400 million each year for 1998, 1999, 2000, and 2001. 1040ez fill in form This provision has been extended to provide for an additional $400 million of bonds to be issued each year for 2002 and 2003. 1040ez fill in form For more information about qualified zone academy bonds, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. 1040ez fill in form Depletion The suspension of the taxable income limit on percentage depletion from the marginal production of oil and natural gas that was scheduled to expire for tax years beginning after 2001 has been extended to tax years beginning before 2004. 1040ez fill in form For more information on marginal production, see section 613A(c) of the Internal Revenue Code. 1040ez fill in form Work Opportunity Credit Expanded in New York Liberty Zone The work opportunity credit is expanded to include a new targeted group consisting generally of employees who perform substantially all their services: In the New York Liberty Zone (defined earlier under Tax Incentives for New York Liberty Zone, under 2001 Changes), or Elsewhere in New York City for a business that relocated from the Liberty Zone due to the destruction or damage of its place of business by the September 11, 2001, terrorist attack. 1040ez fill in form The credit is available to employers for wages paid to new employees and existing employees for work performed during 2002 or 2003. 1040ez fill in form Certain limits apply. 1040ez fill in form For more information about the work opportunity credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. 1040ez fill in form Credit For Pension Plan Startup Costs The credit for pension plan startup costs is now allowed for plans that become effective after December 31, 2001. 1040ez fill in form Previously, the credit was only allowed for plans established after December 31, 2001. 1040ez fill in form For more information on the credit, see Important Changes for 2002 in Publication 560, Retirement Plans for Small Business. 1040ez fill in form Welfare-to-Work Credit Extended The welfare-to-work credit that was scheduled to expire for wages paid to individuals who began working for you after 2001 has been extended to include wages paid to qualified individuals who begin work for you in 2002 or 2003. 1040ez fill in form For more information on the welfare-to-work credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. 1040ez fill in form Work Opportunity Credit Extended The work opportunity credit that was scheduled to expire for wages paid to individuals who began working for you after 2001 has been extended to include wages paid to qualified individuals who begin work for you in 2002 or 2003. 1040ez fill in form For more information about the work opportunity credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. 1040ez fill in form Electric and Clean-Fuel Vehicles The maximum clean-fuel vehicle deduction and qualified electric vehicle credit were scheduled to be 25% lower for 2002 and both were scheduled to be phased out completely by 2005. 1040ez fill in form The full deduction and credit are now allowed for qualified property placed in service in 2002 and 2003. 1040ez fill in form The phaseout of the deduction and the credit will begin in 2004, and no deduction or credit will be allowed for property placed in service after 2006. 1040ez fill in form For more information about electric and clean-fuel vehicles, see chapter 12 in Publication 535, Business Expenses. 1040ez fill in form Renewable Electricity Production Credit The renewable electricity production credit is extended to include electricity produced by facilities placed in service after 2001 and before 2004. 1040ez fill in form Later Changes Special Depreciation Allowance You can claim the special depreciation allowance (an additional 30% depreciation deduction) for new property that you acquire before September 11, 2004, and place in service for your business generally before January 1, 2005, if you meet the other requirements for qualified property covered in chapter 5. 1040ez fill in form Accordingly, you will generally no longer be able to claim the special depreciation allowance for the qualified property if you acquire it after September 10, 2004, or place it in service for your business after December 31, 2004. 1040ez fill in form However, you will be able to claim the special Liberty Zone depreciation allowance (an additional 30% depreciation deduction) for most qualified property if you place it in service in the Liberty Zone after December 31, 2004, and generally before January 1, 2007, provided you meet the other requirements for qualified Liberty Zone property covered in chapter 5. 1040ez fill in form Extension of Placed in Service Date To qualify for the special depreciation allowance, your property must meet certain tests, including the placed in service date test, as well as the other requirements covered in chapter 5 of this publication. 1040ez fill in form To meet the placed in service date test, your property must generally be placed in service for use in your trade or business or for the production of income after September 10, 2001, and before January 1, 2005. 1040ez fill in form However, certain property placed in service before January 1, 2006, may meet this test. 1040ez fill in form Transportation property and property with a recovery period of 10 years or longer meet the test if one of the following applies. 1040ez fill in form The property has an estimated production period of more than 2 years. 1040ez fill in form The property has an estimated production period of more than 1 year and it costs more than $1 million. 1040ez fill in form Transportation property is any tangible personal property used in the trade or business of transporting persons or property. 1040ez fill in form For property that qualifies for the special depreciation allowance solely because of the one-year extension of the placed in service date, only the part of the basis attributable to manufacture, construction, or production before September 11, 2004, is eligible for the special depreciation allowance. 1040ez fill in form Special Liberty Zone Depreciation Allowance for New and Used Property You can claim the special Liberty Zone depreciation allowance (an additional 30% depreciation deduction) for used property that you acquire after September 10, 2001, if the property meets the requirements listed under Qualified Liberty Zone Property in chapter 5 of this publication. 1040ez fill in form You will be able to claim the allowance for both new and used property that you acquire after September 10, 2004, provided the property meets the other requirements for qualified Liberty Zone property. 1040ez fill in form Depreciation of Property Used on Indian Reservations The special depreciation rules that apply to qualified property used on an Indian reservation were scheduled to expire for property placed in service after 2003. 1040ez fill in form These special rules have been extended to include property placed in service in 2004. 1040ez fill in form For more information about these rules, see Publication 946, How To Depreciate Property. 1040ez fill in form Indian Employment Credit Extended The Indian employment credit that was scheduled to expire for tax years beginning after 2003 has been extended to include a tax year beginning in 2004. 1040ez fill in form For more information about this credit, see Publication 954, Tax Incentives for Empowerment Zones and Other Distressed Communities. 1040ez fill in form Prev  Up  Next   Home   More Online Publications