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1040ez Form 2011

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1040ez Form 2011

1040ez form 2011 1. 1040ez form 2011   Importance of Records Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Benefits of Recordkeeping Kinds of Records To Keep How Long To Keep Records Introduction A farmer, like other taxpayers, must keep records to prepare an accurate income tax return and determine the correct amount of tax. 1040ez form 2011 This chapter explains the benefits of keeping records, what kinds of records you must keep, and how long you must keep them for federal tax purposes. 1040ez form 2011 Tax records are not the only type of records you need to keep for your farming business. 1040ez form 2011 You should also keep records that measure your farm's financial performance. 1040ez form 2011 This publication only discusses tax records. 1040ez form 2011 The Farm Financial Standards Council has produced a publication that provides a detailed explanation of the recommendations of the Council for financial reporting and analysis. 1040ez form 2011 For information on recordkeeping, you can purchase and download Financial Guidelines for Agricultural Producers at www. 1040ez form 2011 ffsc. 1040ez form 2011 org. 1040ez form 2011 For more information, contact Countryside Marketing, Inc. 1040ez form 2011 in the following manner. 1040ez form 2011 Call 262-253-6902. 1040ez form 2011 Send a fax to 262-253-6903. 1040ez form 2011 Write to: Farm Financial Standards Council N78 W14573 Appleton Ave. 1040ez form 2011 , #287 Menomonee Falls, WI 53051. 1040ez form 2011 Topics - This chapter discusses: Benefits of recordkeeping Kinds of records to keep How long to keep records Useful Items - You may want to see: Publication 51 (Circular A), Agricultural Employer's Tax Guide 463 Travel, Entertainment, Gift, and Car Expenses See chapter 16 for information about getting publications. 1040ez form 2011 Benefits of Recordkeeping Everyone in business, including farmers, must keep appropriate records. 1040ez form 2011 Recordkeeping will help you do the following. 1040ez form 2011 Monitor the progress of your farming business. 1040ez form 2011   You need records to monitor the progress of your farming business. 1040ez form 2011 Records can show whether your business is improving, which items are selling, or what changes you need to make. 1040ez form 2011 Records can help you make better decisions that may increase the likelihood of business success. 1040ez form 2011 Prepare your financial statements. 1040ez form 2011   You need records to prepare accurate financial statements. 1040ez form 2011 These include income (profit and loss) statements and balance sheets. 1040ez form 2011 These statements can help you in dealing with your bank or creditors and help you to manage your farm business. 1040ez form 2011 Identify source of receipts. 1040ez form 2011   You will receive money or property from many sources. 1040ez form 2011 Your records can identify the source of your receipts. 1040ez form 2011 You need this information to separate farm from nonfarm receipts and taxable from nontaxable income. 1040ez form 2011 Keep track of deductible expenses. 1040ez form 2011   You may forget expenses when you prepare your tax return unless you record them when they occur. 1040ez form 2011 Prepare your tax returns. 1040ez form 2011   You need records to prepare your tax return. 1040ez form 2011 For example, your records must support the income, expenses, and credits you report. 1040ez form 2011 Generally, these are the same records you use to monitor your farming business and prepare your financial statements. 1040ez form 2011 Support items reported on tax returns. 1040ez form 2011   You must keep your business records available at all times for inspection by the IRS. 1040ez form 2011 If the IRS examines any of your tax returns, you may be asked to explain the items reported. 1040ez form 2011 A complete set of records will speed up the examination. 1040ez form 2011 Kinds of Records To Keep Except in a few cases, the law does not require any specific kind of records. 1040ez form 2011 You can choose any recordkeeping system suited to your farming business that clearly shows, for example, your income and expenses. 1040ez form 2011 You should set up your recordkeeping system using an accounting method that clearly shows your income for your tax year. 1040ez form 2011 See  chapter 2. 1040ez form 2011 If you are in more than one business, you should keep a complete and separate set of records for each business. 1040ez form 2011 A corporation should keep minutes of board of directors' meetings. 1040ez form 2011 Your recordkeeping system should include a summary of your business transactions. 1040ez form 2011 This summary is ordinarily made in accounting journals and ledgers. 1040ez form 2011 For example, they must show your gross income, as well as your deductions and credits. 1040ez form 2011 In addition, you must keep supporting documents. 1040ez form 2011 Purchases, sales, payroll, and other transactions you have in your business generate supporting documents such as invoices and receipts. 1040ez form 2011 These documents contain the information you need to record in your journals and ledgers. 1040ez form 2011 It is important to keep these documents because they support the entries in your journals and ledgers and on your tax return. 1040ez form 2011 Keep them in an orderly fashion and in a safe place. 1040ez form 2011 For instance, organize them by year and type of income or expense. 1040ez form 2011 Electronic records. 1040ez form 2011   All requirements that apply to hard copy books and records also apply to electronic storage systems that maintain tax books and records. 1040ez form 2011 When you replace hard copy books and records, you must maintain the electronic storage systems for as long as they are material to the administration of tax law. 1040ez form 2011 An electronic storage system is any system for preparing or keeping your records either by electronic imaging or by transfer to an electronic storage media. 1040ez form 2011 The electronic storage system must index, store, preserve, retrieve and reproduce the electronically stored books and records in legible format. 1040ez form 2011 All electronic storage systems must provide a complete and accurate record of your data that is accessible to the IRS. 1040ez form 2011 Electronic storage systems are also subject to the same controls and retention guidelines as those imposed on your original hard copy books and records. 1040ez form 2011 The original hard copy books and records may be destroyed provided that the electronic storage system has been tested to establish that the hard copy books and records are being reproduced in compliance with IRS requirements for an electronic storage system and procedures are established to ensure continued compliance with all applicable rules and regulations. 1040ez form 2011 You still have the responsibility of retaining any other books and records that are required to be retained. 1040ez form 2011 The IRS may test your electronic storage system, including the equipment used, indexing methodology, software and retrieval capabilities. 1040ez form 2011 This test is not considered an examination and the results must be shared with you. 1040ez form 2011 If your electronic storage system meets the requirements mentioned earlier, you will be in compliance. 1040ez form 2011 If not, you may be subject to penalties for non-compliance, unless you continue to maintain your original hard copybooks and records in a manner that allows you and the IRS to determine your correct tax. 1040ez form 2011 For details on electronic storage system requirements, see Rev. 1040ez form 2011 Proc. 1040ez form 2011 97-22. 1040ez form 2011 You can find Rev. 1040ez form 2011 Proc. 1040ez form 2011 97-22 on page 9 of Internal Revenue Bulletin 1997-13 at  www. 1040ez form 2011 irs. 1040ez form 2011 gov/pub/irs-irbs/irb97-13. 1040ez form 2011 pdf. 1040ez form 2011 Travel, transportation, entertainment, and gift expenses. 1040ez form 2011   Specific recordkeeping rules apply to these expenses. 1040ez form 2011 For more information, see Publication 463. 1040ez form 2011 Employment taxes. 1040ez form 2011   There are specific employment tax records you must keep. 1040ez form 2011 For a list, see Publication 51 (Circular A). 1040ez form 2011 Excise taxes. 1040ez form 2011   See How To Claim a Credit or Refund in chapter 14 for the specific records you must keep to verify your claim for credit or refund of excise taxes on certain fuels. 1040ez form 2011 Assets. 1040ez form 2011   Assets are the property, such as machinery and equipment, you own and use in your business. 1040ez form 2011 You must keep records to verify certain information about your business assets. 1040ez form 2011 You need records to figure your annual depreciation deduction and the gain or (loss) when you sell the assets. 1040ez form 2011 Your records should show all the following. 1040ez form 2011 When and how you acquired the asset. 1040ez form 2011 Purchase price. 1040ez form 2011 Cost of any improvements. 1040ez form 2011 Section 179 deduction taken. 1040ez form 2011 Deductions taken for depreciation. 1040ez form 2011 Deductions taken for casualty losses, such as losses resulting from fires or storms. 1040ez form 2011 How you used the asset. 1040ez form 2011 When and how you disposed of the asset. 1040ez form 2011 Selling price. 1040ez form 2011 Expenses of sale. 1040ez form 2011   The following are examples of records that may show this information. 1040ez form 2011 Purchase and sales invoices. 1040ez form 2011 Real estate closing statements. 1040ez form 2011 Canceled checks. 1040ez form 2011 Bank statements. 1040ez form 2011 Financial account statements as proof of payment. 1040ez form 2011   If you do not have a canceled check, you may be able to prove payment with certain financial account statements prepared by financial institutions. 1040ez form 2011 These include account statements prepared for the financial institution by a third party. 1040ez form 2011 These account statements must be legible. 1040ez form 2011 The following table lists acceptable account statements. 1040ez form 2011 IF payment is by. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 THEN the statement must show the. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 Check Check number. 1040ez form 2011 Amount. 1040ez form 2011 Payee's name. 1040ez form 2011 Date the check amount was posted to the account by the financial institution. 1040ez form 2011 Electronic funds  transfer Amount transferred. 1040ez form 2011 Payee's name. 1040ez form 2011 Date the transfer was posted to the account by the financial institution. 1040ez form 2011 Credit card Amount charged. 1040ez form 2011 Payee's name. 1040ez form 2011 Transaction date. 1040ez form 2011    Proof of payment of an amount, by itself, does not establish you are entitled to a tax deduction. 1040ez form 2011 You should also keep other documents, such as credit card sales slips and invoices, to show that you also incurred the cost. 1040ez form 2011 Tax returns. 1040ez form 2011   Keep copies of your filed tax returns. 1040ez form 2011 They help in preparing future tax returns and making computations if you file an amended return. 1040ez form 2011 Keep copies of your information returns such as Form 1099, Schedule K-1, and Form W-2. 1040ez form 2011 How Long To Keep Records You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. 1040ez form 2011 Keep records that support an item of income or a deduction appearing on a return until the period of limitations for the return runs out. 1040ez form 2011 A period of limitations is the period of time after which no legal action can be brought. 1040ez form 2011 Generally, that means you must keep your records for at least 3 years from when your tax return was due or filed or within 2 years of the date the tax was paid, whichever is later. 1040ez form 2011 However, certain records must be kept for a longer period of time, as discussed below. 1040ez form 2011 Employment taxes. 1040ez form 2011   If you have employees, you must keep all employment tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later. 1040ez form 2011 Assets. 1040ez form 2011   Keep records relating to property until the period of limitations expires for the year in which you dispose of the property in a taxable disposition. 1040ez form 2011 You must keep these records to figure any depreciation, amortization, or depletion deduction and to figure your basis for computing gain or (loss) when you sell or otherwise dispose of the property. 1040ez form 2011   You may need to keep records relating to the basis of property longer than the period of limitation. 1040ez form 2011 Keep those records as long as they are important in figuring the basis of the original or replacement property. 1040ez form 2011 Generally, this means as long as you own the property and, after you dispose of it, for the period of limitations that applies to you. 1040ez form 2011 For example, if you received property in a nontaxable exchange, you must keep the records for the old property, as well as for the new property, until the period of limitations expires for the year in which you dispose of the new property in a taxable disposition. 1040ez form 2011 For more information on basis, see chapter 6. 1040ez form 2011 Records for nontax purposes. 1040ez form 2011   When your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes. 1040ez form 2011 For example, your insurance company or creditors may require you to keep them longer than the IRS does. 1040ez form 2011 Prev  Up  Next   Home   More Online Publications
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Identity Protection

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The IRS is committed to working with taxpayers who are the victims of identity theft

The IRS has taken numerous steps to combat identity theft and protect taxpayers. We are continually looking at ways to increase data security and protect taxpayers' identities with assistance from our Identity Protection Specialized Unit. Identity theft cases are among the most complex ones we handle.

We know identity theft is a frustrating process for victims. We take this issue very seriously and continue to expand on our robust screening process in order to stop fraudulent returns and protect innocent taxpayers.

On this page, you will find a wide range of information. Depending upon your personal circumstances, the information found here will cover a variety of scenarios involving identity theft, ranging from contacting us with a case of identity theft to providing tips to help keep your records safe.

  • Victim of identity theft?

Do you have reason to believe you are the victim of identity theft and your tax accounts have been affected?

Have you been informed that someone may be using your Social Security number for employment purposes?

Remember:
The IRS does not initiate contact with taxpayers by email to request personal or financial information.  This includes any type of electronic communication, such as text messages and social media channels.

Page Last Reviewed or Updated: 13-Mar-2014

The 1040ez Form 2011

1040ez form 2011 5. 1040ez form 2011   Credits Table of Contents Credit for the Elderly or the DisabledCan You Take the Credit? Figuring the Credit Child and Dependent Care Credit Earned Income Credit (EIC)Do You Qualify for the Earned Income Credit (EIC)? Figuring the EIC This chapter briefly discusses the credit for the elderly or disabled, the child and dependent care credit, and the earned income credit. 1040ez form 2011 You may be able to reduce your federal income tax by claiming one or more of these credits. 1040ez form 2011 Credit for the Elderly or the Disabled This section explains who qualifies for the credit for the elderly or the disabled and how to figure this credit. 1040ez form 2011 For more information, see Publication 524, Credit for the Elderly or the Disabled. 1040ez form 2011 You can take the credit only if you file Form 1040 or Form 1040A. 1040ez form 2011 You cannot take the credit if you file Form 1040EZ or Form 1040NR. 1040ez form 2011 Can You Take the Credit? You can take the credit for the elderly or the disabled if you meet both of the following requirements. 1040ez form 2011 You are a qualified individual. 1040ez form 2011 Your income is not more than certain limits. 1040ez form 2011  You can use Figure 5-A and Figure 5-B as guides to see if you are eligible for the credit. 1040ez form 2011   Qualified Individual You are a qualified individual for this credit if you are a U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien, and either of the following applies. 1040ez form 2011 You were age 65 or older at the end of 2013. 1040ez form 2011 You were under age 65 at the end of 2013 and all three of the following statements are true. 1040ez form 2011 You retired on permanent and total disability (explained later). 1040ez form 2011 You received taxable disability income for 2013. 1040ez form 2011 On January 1, 2013, you had not reached mandatory retirement age (defined later under Disability income ). 1040ez form 2011 Age 65. 1040ez form 2011 You are considered to be age 65 on the day before your 65th birthday. 1040ez form 2011 Therefore, you are considered to be age 65 at the end of 2013 if you were born before January 2, 1949. 1040ez form 2011 Figure 5-A. 1040ez form 2011 Are You a Qualified Individual? This image is too large to be displayed in the current screen. 1040ez form 2011 Please click the link to view the image. 1040ez form 2011 Figure 5-A, Are you a qualified individual? U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien. 1040ez form 2011   You must be a U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien (or be treated as a resident alien) to take the credit. 1040ez form 2011 Generally, you cannot take the credit if you were a nonresident alien at any time during the tax year. 1040ez form 2011 Exceptions. 1040ez form 2011   You may be able to take the credit if you are a nonresident alien who is married to a U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien at the end of the tax year and you and your spouse choose to treat you as a U. 1040ez form 2011 S. 1040ez form 2011 resident alien. 1040ez form 2011 If you make that choice, both you and your spouse are taxed on your worldwide income. 1040ez form 2011   If you were a nonresident alien at the beginning of the year and a resident alien at the end of the year, and you were married to a U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien at the end of the year, you may be able to choose to be treated as a U. 1040ez form 2011 S. 1040ez form 2011 resident alien for the entire year. 1040ez form 2011 In that case, you may be allowed to take the credit. 1040ez form 2011   For information on these choices, see chapter 1 of Publication 519, U. 1040ez form 2011 S. 1040ez form 2011 Tax Guide for Aliens. 1040ez form 2011 Married persons. 1040ez form 2011   Generally, if you are married at the end of the tax year, you and your spouse must file a joint return to take the credit. 1040ez form 2011 However, if you and your spouse did not live in the same household at any time during the tax year, you can file either a joint return or separate returns and still take the credit. 1040ez form 2011 Head of household. 1040ez form 2011   You can file as head of household and qualify to take the credit even if your spouse lived with you during the first 6 months of the year if you meet certain tests. 1040ez form 2011 See Publication 524 and Publication 501. 1040ez form 2011 Under age 65. 1040ez form 2011   If you are under age 65 at the end of 2013, you can qualify for the credit only if you are retired on permanent and total disability and have taxable disability income (discussed later under Disability income ). 1040ez form 2011 You are considered to be under age 65 at the end of 2013 if you were born after January 1, 1949. 1040ez form 2011 You are retired on permanent and total disability if: You were permanently and totally disabled when you retired, and You retired on disability before the end of the tax year. 1040ez form 2011   Even if you do not retire formally, you may be considered retired on disability when you have stopped working because of your disability. 1040ez form 2011 If you retired on disability before 1977 and were not permanently and totally disabled at the time, you can qualify for the credit if you were permanently and totally disabled on January 1, 1976, or January 1, 1977. 1040ez form 2011 Permanent and total disability. 1040ez form 2011   You are permanently and totally disabled if you cannot engage in any substantial gainful activity because of your physical or mental condition. 1040ez form 2011 A physician must certify that the condition has lasted or can be expected to last continuously for 12 months or more, or that the condition can be expected to result in death. 1040ez form 2011 See Physician's statement , later. 1040ez form 2011 Substantial gainful activity. 1040ez form 2011   Substantial gainful activity is the performance of significant duties over a reasonable period of time while working for pay or profit, or in work generally done for pay or profit. 1040ez form 2011   Full-time work (or part-time work done at the employer's convenience) in a competitive work situation for at least the minimum wage conclusively shows that you are able to engage in substantial gainful activity. 1040ez form 2011   Substantial gainful activity is not work you do to take care of yourself or your home. 1040ez form 2011 It is not unpaid work on hobbies, institutional therapy or training, school attendance, clubs, social programs, and similar activities. 1040ez form 2011 However, doing this kind of work may show that you are able to engage in substantial gainful activity. 1040ez form 2011    Figure 5-B. 1040ez form 2011 Income Limits IF your filing status is. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 THEN even if you qualify (see Figure 5-A), you CANNOT take the credit if: Your adjusted gross income (AGI)* is equal to or more than. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 OR the total of your nontaxable social security and other nontaxable pension(s), annuities, or disability income is equal to or more than. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 single, head of household, or qualifying widow(er) with dependent child $17,500 $5,000 married filing jointly and only one spouse qualifies in Figure 5-A $20,000 $5,000 married filing jointly and both spouses qualify in Figure 5-A $25,000 $7,500 married filing separately and you lived apart from your spouse for all of 2013 $12,500 $3,750 *AGI is the amount on Form 1040A, line 22, or Form 1040, line 38      The fact that you have not worked for some time is not, of itself, conclusive evidence that you cannot engage in substantial gainful activity. 1040ez form 2011 Physician's statement. 1040ez form 2011   If you are under age 65, you must have your physician complete a statement certifying that you were permanently and totally disabled on the date you retired. 1040ez form 2011   You do not have to file this statement with your tax return, but you must keep it for your records. 1040ez form 2011 The Instructions for Schedule R (Form 1040A or 1040) include a statement your physician can complete and that you can keep for your records. 1040ez form 2011 Veterans. 1040ez form 2011   If the Department of Veterans Affairs (VA) certifies that you are permanently and totally disabled, you can substitute VA Form 21-0172, Certification of Permanent and Total Disability, for the physician's statement you are required to keep. 1040ez form 2011 VA Form 21-0172 must be signed by a person authorized by the VA to do so. 1040ez form 2011 You can get this form from your local VA regional office. 1040ez form 2011 Physician's statement obtained in earlier year. 1040ez form 2011   If you got a physician's statement in an earlier year and, due to your continued disabled condition, you were unable to engage in any substantial gainful activity during 2013, you may not need to get another physician's statement for 2013. 1040ez form 2011 For a detailed explanation of the conditions you must meet, see the instructions for Schedule R (Form 1040A or 1040), Part II. 1040ez form 2011 If you meet the required conditions, you must check the box on Schedule R (Form 1040A or 1040), Part II, line 2. 1040ez form 2011   If you checked Schedule R (Form 1040A or 1040), Part I, box 4, 5, or 6, print in the space above the box in Part II, line 2, the first name(s) of the spouse(s) for whom the box is checked. 1040ez form 2011 Disability income. 1040ez form 2011   If you are under age 65, you must also have taxable disability income to qualify for the credit. 1040ez form 2011   Disability income must meet the following two requirements. 1040ez form 2011 It must be paid under your employer's accident or health plan or pension plan. 1040ez form 2011 It must be included in your income as wages (or payments in lieu of wages) for the time you are absent from work because of permanent and total disability. 1040ez form 2011 Payments that are not disability income. 1040ez form 2011   Any payment you receive from a plan that does not provide for disability retirement is not disability income. 1040ez form 2011 Any lump-sum payment for accrued annual leave that you receive when you retire on disability is a salary payment and is not disability income. 1040ez form 2011   For purposes of the credit for the elderly or the disabled, disability income does not include amounts you receive after you reach mandatory retirement age. 1040ez form 2011 Mandatory retirement age is the age set by your employer at which you would have had to retire had you not become disabled. 1040ez form 2011 Figuring the Credit You can figure the credit yourself, or the IRS will figure it for you. 1040ez form 2011 Figuring the credit yourself. 1040ez form 2011   If you figure the credit yourself, fill out the front of Schedule R (Form 1040A or 1040). 1040ez form 2011 Next, fill out Schedule R (Form 1040A or 1040), Part III. 1040ez form 2011 Credit figured for you. 1040ez form 2011   If you can take the credit and you want the IRS to figure the credit for you, see Publication 524 or the Instructions for Schedule R (Form 1040A or 1040). 1040ez form 2011 If you want the IRS to figure your tax, see chapter 30 of Publication 17, Your Federal Income Tax. 1040ez form 2011 Child and Dependent Care Credit You may be able to claim this credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who is not able to care for himself or herself. 1040ez form 2011 The credit can be up to 35% of your expenses. 1040ez form 2011 To qualify, you must pay these expenses so you can work or look for work. 1040ez form 2011 If you claim this credit, you must include on your return the name and taxpayer identification number (generally the social security number) of each qualifying person for whom care is provided. 1040ez form 2011 If the correct information is not shown, the credit may be reduced or disallowed. 1040ez form 2011 You also must show on your return the name, address, and the taxpayer identification number of the person(s) or organization(s) that provided the care. 1040ez form 2011 For more information, see Publication 503, Child and Dependent Care Expenses. 1040ez form 2011 Earned Income Credit (EIC) The earned income credit (EIC) is a refundable tax credit for certain people who work and have earned income under $51,567. 1040ez form 2011 The EIC is available to persons with or without a qualifying child. 1040ez form 2011 Credit has no effect on certain welfare benefits. 1040ez form 2011   Any refund you receive because of the EIC cannot be counted as income when determining whether you or anyone else is eligible for benefits or assistance, or how much you or anyone else can receive, under any federal program or under any state or local program financed in whole or in part with federal funds. 1040ez form 2011 These programs include the following. 1040ez form 2011 Medicaid and supplemental security income (SSI). 1040ez form 2011 Supplemental Nutrition Assistance Program (food stamps). 1040ez form 2011 Low-income housing. 1040ez form 2011 Temporary Assistance for Needy Families (TANF). 1040ez form 2011  In addition, when determining eligibility, the refund cannot be counted as a resource for at least 12 months after you receive it. 1040ez form 2011 Check with your local benefit coordinator to find out if your refund will affect your benefits. 1040ez form 2011 Do You Qualify for the Earned Income Credit (EIC)? Use Table 5-1 as an initial guide to the rules you must meet in order to qualify for the EIC. 1040ez form 2011 The specific rules you must meet depend on whether you have a qualifying child. 1040ez form 2011 If you have a qualifying child, the rules in Parts A, B, and D apply to you. 1040ez form 2011 If you do not have a qualifying child, the rules in Parts A, C, and D apply to you. 1040ez form 2011  If, after reading all the rules in each part that applies to you, you think you may qualify for the credit, see Publication 596, Earned Income Credit, for more details about the EIC. 1040ez form 2011 You can also find information about the EIC in the instructions for Form 1040 (line 64a), Form 1040A (line 38a), or Form 1040EZ (line 8a). 1040ez form 2011 The sections that follow provide additional information for some of the rules. 1040ez form 2011 Adjusted gross income (AGI). 1040ez form 2011   Under Rule 1, you cannot claim the EIC unless your AGI is less than the applicable limit shown in Part A of Table 5-1. 1040ez form 2011 Your AGI is the amount on line 37 (Form 1040), line 21 (Form 1040A), or line 4 (Form 1040EZ). 1040ez form 2011 Table 5-1. 1040ez form 2011 Earned Income Credit (EIC) in a Nutshell First, you must meet all the rules in this column. 1040ez form 2011 Second, you must meet all the rules in one of these columns, whichever applies. 1040ez form 2011 Third, you must meet the rule in this column. 1040ez form 2011 Part A. 1040ez form 2011  Rules for Everyone Part B. 1040ez form 2011  Rules If You Have a Qualifying Child Part C. 1040ez form 2011  Rules If You Do Not Have a Qualifying Child Part D. 1040ez form 2011  Figuring and Claiming the EIC 1. 1040ez form 2011 Your adjusted gross income (AGI) must be less than: •$46,227 ($51,567 for married filing jointly) if you have three or more qualifying children, •$43,038 ($48,378 for married filing jointly) if you have two qualifying children, •$37,870 ($43,210 for married filing jointly) if you have one qualifying child, or  •$14,340 ($19,680 for married filing jointly) if you do not have a qualifying child. 1040ez form 2011 2. 1040ez form 2011 You must have a valid social security number. 1040ez form 2011  3. 1040ez form 2011 Your filing status cannot be “Married filing separately. 1040ez form 2011 ” 4. 1040ez form 2011 You must be a U. 1040ez form 2011 S. 1040ez form 2011 citizen or resident alien all year. 1040ez form 2011  5. 1040ez form 2011 You cannot file Form 2555 or Form 2555-EZ (relating to foreign earned income). 1040ez form 2011  6. 1040ez form 2011 Your investment income must be $3,300 or less. 1040ez form 2011  7. 1040ez form 2011 You must have earned income. 1040ez form 2011 8. 1040ez form 2011 Your child must meet the relationship, age, residency, and joint return tests. 1040ez form 2011  9. 1040ez form 2011 Your qualifying child cannot be used by more than one person to claim the EIC. 1040ez form 2011  10. 1040ez form 2011 You generally cannot be a qualifying child of another person. 1040ez form 2011 11. 1040ez form 2011 You must be at least age 25 but under age 65. 1040ez form 2011  12. 1040ez form 2011 You cannot be the dependent of another person. 1040ez form 2011  13. 1040ez form 2011 You generally cannot be a qualifying child of another person. 1040ez form 2011  14. 1040ez form 2011 You must have lived in the United States more than half of the year. 1040ez form 2011 15. 1040ez form 2011 Your earned income must be less than: •$46,227 ($51,567 for married filing jointly) if you have three or more qualifying children, •$43,038 ($48,378 for married filing jointly) if you have two qualifying children, •$37,870 ($43,210 for married filing jointly) if you have one qualifying child, or •$14,340 ($19,680 for married filing jointly) if you do not have a qualifying child. 1040ez form 2011 Social security number. 1040ez form 2011   Under Rule 2, you (and your spouse if you are married filing jointly) must have a valid social security number (SSN) issued by the Social Security Administration (SSA). 1040ez form 2011 Any qualifying child listed on Schedule EIC also must have a valid SSN. 1040ez form 2011 (See Qualifying child , later, if you have a qualifying child. 1040ez form 2011 )   If your social security card (or your spouse's if you are married filing jointly) says “Not valid for employment” and your SSN was issued so that you (or your spouse) could get a federally funded benefit, you cannot get the EIC. 1040ez form 2011 An example of a federally funded benefit is Medicaid. 1040ez form 2011 Investment income. 1040ez form 2011   Under Rule 6, you cannot claim the EIC unless your investment income is $3,300 or less. 1040ez form 2011 If your investment income is more than $3,300, you cannot claim the credit. 1040ez form 2011 For most people, investment income is the total of the following amounts. 1040ez form 2011 Taxable interest (line 8a of Form 1040 or 1040A). 1040ez form 2011 Tax-exempt interest (line 8b of Form 1040 or 1040A). 1040ez form 2011 Dividend income (line 9a of Form 1040 or 1040A). 1040ez form 2011 Capital gain net income (line 13 of Form 1040, if more than zero, or line 10 of Form 1040A). 1040ez form 2011  If you file Form 1040EZ, your investment income is the total of the amount of line 2 and the amount of any tax-exempt interest you wrote to the right of the words “Form 1040EZ” on line 2. 1040ez form 2011   For more information about investment income, see Publication 596, Earned Income Credit. 1040ez form 2011 Earned income. 1040ez form 2011   Under Rule 7, you must have earned income to claim the EIC. 1040ez form 2011 Under Rule 15, you cannot claim the EIC unless your earned income is less than the applicable limit shown in Table 5-1, Part D. 1040ez form 2011 Earned income includes all of the following types of income. 1040ez form 2011 Wages, salaries, tips, and other taxable employee pay. 1040ez form 2011 Employee pay is earned income only if it is taxable. 1040ez form 2011 Nontaxable employee pay, such as certain dependent care benefits and adoption benefits, is not earned income. 1040ez form 2011 But there is an exception for nontaxable combat pay, which you can choose to include in earned income. 1040ez form 2011 Net earnings from self-employment. 1040ez form 2011 Gross income received as a statutory employee. 1040ez form 2011 Gross income defined. 1040ez form 2011   Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you can exclude part or all of it). 1040ez form 2011 Do not include any social security benefits unless (a) you are married filing a separate tax return and you lived with your spouse at any time in 2013, or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). 1040ez form 2011 If (a) or (b) applies, see the instructions for Form 1040, lines 20a and 20b to figure the taxable part of social security benefits you must include in gross income. 1040ez form 2011 Self-employed persons. 1040ez form 2011   If you are self-employed and your net earnings are $400 or more, be sure to correctly fill out Schedule SE (Form 1040), Self-Employment Tax, and pay the proper amount of self-employment tax. 1040ez form 2011 If you do not, you may not get all the credit to which you are entitled. 1040ez form 2011 Disability benefits. 1040ez form 2011   If you retired on disability, taxable benefits you receive under your employer's disability retirement plan are considered earned income until you reach minimum retirement age. 1040ez form 2011 Minimum retirement age generally is the earliest age at which you could have received a pension or annuity if you were not disabled. 1040ez form 2011 Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension and are not considered earned income. 1040ez form 2011   Payments you received from a disability insurance policy that you paid the premiums for are not earned income. 1040ez form 2011 It does not matter whether you have reached minimum retirement age. 1040ez form 2011 If this policy is through your employer, the amount may be shown in box 12 of your Form W-2 with code J. 1040ez form 2011 Income that is not earned income. 1040ez form 2011   Examples of items that are not earned income under Rule 7 include interest and dividends, pensions and annuities, social security and railroad retirement benefits (including disability benefits — except for payments covered under Disability benefits earlier), alimony and child support, welfare benefits, workers' compensation benefits, unemployment compensation (insurance), nontaxable foster care payments, and veterans' benefits, including VA rehabilitation payments. 1040ez form 2011 Do not include any of these items in your earned income. 1040ez form 2011 Workfare payments. 1040ez form 2011   Nontaxable workfare payments are not earned income for the EIC. 1040ez form 2011 These are cash payments certain people receive from a state or local agency that administers public assistance programs funded under the federal Temporary Assistance for Needy Families (TANF) program in return for certain work activities such as (1) work experience activities (including remodeling or repairing public housing) if sufficient private sector employment is not available, or (2) community service program activities. 1040ez form 2011 Qualifying child. 1040ez form 2011   Under Rule 8, your child is a qualifying child if your child meets four tests. 1040ez form 2011 The four tests are: Relationship, Age, Residency, and Joint return. 1040ez form 2011   The four tests are illustrated in Figure 5-C. 1040ez form 2011 See Publication 596 for more information about each test. 1040ez form 2011 Figure 5-C. 1040ez form 2011 Tests for Qualifying Child A qualifying child for the EIC is a child who is your. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 Son, daughter, stepchild, foster child,  or a descendant of any of them (for example, your grandchild) OR Brother, sister, half brother, half sister, stepbrother,  stepsister, or a descendant of any of them (for example, your  niece or nephew) was . 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 Under age 19 at the end of 2013 and younger than you (or your spouse if filing jointly) OR Under age 24 at the end of 2013, a student, and younger than you (or your spouse if filing jointly) OR Permanently and totally disabled at any time during the year, regardless of age who. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 Is not filing a joint return for 2013  (or is filing a joint return for 2013 only as a claim for refund of income tax withheld or estimated tax paid) who. 1040ez form 2011 . 1040ez form 2011 . 1040ez form 2011 Lived with you in the United States for more than half of 2013. 1040ez form 2011  If the child did not live with you for the required time, see Publication 596 for more information. 1040ez form 2011 Figuring the EIC To figure the amount of your credit, you have two choices. 1040ez form 2011 Have the IRS figure the EIC for you. 1040ez form 2011 If you want to do this, see IRS Will Figure the EIC for You in Publication 596. 1040ez form 2011 Figure the EIC yourself. 1040ez form 2011 If you want to do this, see How To Figure the EIC Yourself in Publication 596. 1040ez form 2011 Prev  Up  Next   Home   More Online Publications