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1040ez Tax Return

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1040ez Tax Return

1040ez tax return 6. 1040ez tax return   Tip Income Table of Contents Introduction Useful Items - You may want to see: Keeping a Daily Tip RecordElectronic tip record. 1040ez tax return Reporting Tips to Your EmployerElectronic tip statement. 1040ez tax return Final report. 1040ez tax return Reporting Tips on Your Tax Return Allocated Tips Introduction This chapter is for employees who receive tips. 1040ez tax return All tips you receive are income and are subject to federal income tax. 1040ez tax return You must include in gross income all tips you receive directly, charged tips paid to you by your employer, and your share of any tips you receive under a tip-splitting or tip-pooling arrangement. 1040ez tax return The value of noncash tips, such as tickets, passes, or other items of value, is also income and subject to tax. 1040ez tax return Reporting your tip income correctly is not difficult. 1040ez tax return You must do three things. 1040ez tax return Keep a daily tip record. 1040ez tax return Report tips to your employer. 1040ez tax return Report all your tips on your income tax return. 1040ez tax return  This chapter will explain these three things and show you what to do on your tax return if you have not done the first two. 1040ez tax return This chapter will also show you how to treat allocated tips. 1040ez tax return For information on special tip programs and agreements, see Publication 531. 1040ez tax return Useful Items - You may want to see: Publication 531 Reporting Tip Income 1244 Employee's Daily Record of Tips and Report to Employer Form (and Instructions) 4137 Social Security and Medicare Tax on Unreported Tip Income 4070 Employee's Report of Tips to Employer Keeping a Daily Tip Record Why keep a daily tip record. 1040ez tax return   You must keep a daily tip record so you can: Report your tips accurately to your employer, Report your tips accurately on your tax return, and Prove your tip income if your return is ever questioned. 1040ez tax return How to keep a daily tip record. 1040ez tax return   There are two ways to keep a daily tip record. 1040ez tax return You can either: Write information about your tips in a tip diary, or Keep copies of documents that show your tips, such as restaurant bills and credit or debit card charge slips. 1040ez tax return You should keep your daily tip record with your tax or other personal records. 1040ez tax return You must keep your records for as long as they are important for administration of the federal tax law. 1040ez tax return For information on how long to keep records, see How long to keep records in chapter 1. 1040ez tax return    If you keep a tip diary, you can use Form 4070A, Employee's Daily Record of Tips. 1040ez tax return To get Form 4070A, ask the Internal Revenue Service (IRS) or your employer for Publication 1244. 1040ez tax return Also, Publication 1244 is available online at www. 1040ez tax return irs. 1040ez tax return gov/pub/irs-pdf/p1244. 1040ez tax return pdf. 1040ez tax return Publication 1244 includes a 1-year supply of Form 4070A. 1040ez tax return Each day, write in the information asked for on the form. 1040ez tax return   In addition to the information asked for on Form 4070A, you also need to keep a record of the date and value of any noncash tips you get, such as tickets, passes, or other items of value. 1040ez tax return Although you do not report these tips to your employer, you must report them on your tax return. 1040ez tax return   If you do not use Form 4070A, start your records by writing your name, your employer's name, and the name of the business (if it is different from your employer's name). 1040ez tax return Then, each workday, write the date and the following information. 1040ez tax return Cash tips you get directly from customers or from other employees. 1040ez tax return Tips from credit and debit card charge customers that your employer pays you. 1040ez tax return The value of any noncash tips you get, such as tickets, passes, or other items of value. 1040ez tax return The amount of tips you paid out to other employees through tip pools or tip splitting, or other arrangements, and the names of the employees to whom you paid the tips. 1040ez tax return Electronic tip record. 1040ez tax return   You can use an electronic system provided by your employer to record your daily tips. 1040ez tax return If you do, you must receive and keep a paper copy of this record. 1040ez tax return Service charges. 1040ez tax return    Do not write in your tip diary the amount of any service charge that your employer adds to a customer's bill and then pays to you and treats as wages. 1040ez tax return This is part of your wages, not a tip. 1040ez tax return See examples below. 1040ez tax return Example 1. 1040ez tax return Good Food Restaurant adds an 18% charge to the bill for parties of 6 or more customers. 1040ez tax return Jane’s bill for food and beverages for her party of 8 includes an amount on the tip line equal to 18% of the charges for food and beverages, and the total includes this amount. 1040ez tax return Because Jane did not have an unrestricted right to determine the amount on the “tip line,” the 18% charge is considered a service charge. 1040ez tax return Do not include the 18% charge in your tip diary. 1040ez tax return Service charges that are paid to you are considered wages, not tips. 1040ez tax return Example 2. 1040ez tax return Good Food Restaurant also includes sample calculations of tip amounts at the bottom of its bills for food and beverages provided to customers. 1040ez tax return David’s bill includes a blank “tip line,” with sample tip calculations of 15%, 18%, and 20% of his charges for food and beverages at the bottom of the bill beneath the signature line. 1040ez tax return Because David is free to enter any amount on the “tip line” or leave it blank, any amount he includes is considered a tip. 1040ez tax return Be sure to include this amount in your tip diary. 1040ez tax return Reporting Tips to Your Employer Why report tips to your employer. 1040ez tax return   You must report tips to your employer so that: Your employer can withhold federal income tax and social security, Medicare, Additional Medicare, or railroad retirement taxes, Your employer can report the correct amount of your earnings to the Social Security Administration or Railroad Retirement Board (which affects your benefits when you retire or if you become disabled, or your family's benefits if you die), and You can avoid the penalty for not reporting tips to your employer (explained later). 1040ez tax return What tips to report. 1040ez tax return   Report to your employer only cash, check, and debit and credit card tips you receive. 1040ez tax return   If your total tips for any 1 month from any one job are less than $20, do not report the tips for that month to that employer. 1040ez tax return   If you participate in a tip-splitting or tip-pooling arrangement, report only the tips you receive and retain. 1040ez tax return Do not report to your employer any portion of the tips you receive that you pass on to other employees. 1040ez tax return However, you must report tips you receive from other employees. 1040ez tax return    Do not report the value of any noncash tips, such as tickets or passes, to your employer. 1040ez tax return You do not pay social security, Medicare, Additional Medicare or railroad retirement taxes on these tips. 1040ez tax return How to report. 1040ez tax return    If your employer does not give you any other way to report tips, you can use Form 4070. 1040ez tax return Fill in the information asked for on the form, sign and date the form, and give it to your employer. 1040ez tax return To get a 1-year supply of the form, ask the IRS or your employer for Publication 1244. 1040ez tax return   If you do not use Form 4070, give your employer a statement with the following information. 1040ez tax return Your name, address, and social security number. 1040ez tax return Your employer's name, address, and business name (if it is different from your employer's name). 1040ez tax return The month (or the dates of any shorter period) in which you received tips. 1040ez tax return The total tips required to be reported for that period. 1040ez tax return You must sign and date the statement. 1040ez tax return Be sure to keep a copy with your tax or other personal records. 1040ez tax return   Your employer may require you to report your tips more than once a month. 1040ez tax return However, the statement cannot cover a period of more than 1 calendar month. 1040ez tax return Electronic tip statement. 1040ez tax return   Your employer can have you furnish your tip statements electronically. 1040ez tax return When to report. 1040ez tax return   Give your report for each month to your employer by the 10th of the next month. 1040ez tax return If the 10th falls on a Saturday, Sunday, or legal holiday, give your employer the report by the next day that is not a Saturday, Sunday, or legal holiday. 1040ez tax return Example. 1040ez tax return You must report your tips received in September 2014 by October 10, 2014. 1040ez tax return Final report. 1040ez tax return   If your employment ends during the month, you can report your tips when your employment ends. 1040ez tax return Penalty for not reporting tips. 1040ez tax return   If you do not report tips to your employer as required, you may be subject to a penalty equal to 50% of the social security, Medicare, and Additional Medicare taxes or railroad retirement tax you owe on the unreported tips. 1040ez tax return (For information about these taxes, see Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer under Reporting Tips on Your Tax Return, later. 1040ez tax return ) The penalty amount is in addition to the taxes you owe. 1040ez tax return   You can avoid this penalty if you can show reasonable cause for not reporting the tips to your employer. 1040ez tax return To do so, attach a statement to your return explaining why you did not report them. 1040ez tax return Giving your employer money for taxes. 1040ez tax return   Your regular pay may not be enough for your employer to withhold all the taxes you owe on your regular pay plus your reported tips. 1040ez tax return If this happens, you can give your employer money until the close of the calendar year to pay the rest of the taxes. 1040ez tax return   If you do not give your employer enough money, your employer will apply your regular pay and any money you give in the following order. 1040ez tax return All taxes on your regular pay. 1040ez tax return Social security, Medicare, and Additional Medicare taxes or railroad retirement taxes on your reported tips. 1040ez tax return Federal, state, and local income taxes on your reported tips. 1040ez tax return    Any taxes that remain unpaid can be collected by your employer from your next paycheck. 1040ez tax return If withholding taxes remain uncollected at the end of the year, you may be subject to a penalty for underpayment of estimated taxes. 1040ez tax return See Publication 505, Tax Withholding and Estimated Tax, for more information. 1040ez tax return    Uncollected taxes. 1040ez tax return You must report on your tax return any social security and Medicare taxes or railroad retirement tax that remained uncollected at the end of 2013. 1040ez tax return These uncollected taxes will be shown on your 2013 Form W-2. 1040ez tax return See Reporting uncollected social security, Medicare, or railroad retirement taxes on tips reported to your employer under Reporting Tips on Your Tax Return, later. 1040ez tax return Reporting Tips on Your Tax Return How to report tips. 1040ez tax return    Report your tips with your wages on Form 1040, line 7; Form 1040A, line 7; or Form 1040EZ, line 1. 1040ez tax return What tips to report. 1040ez tax return   You must report all tips you received in 2013 on your tax return, including both cash tips and noncash tips. 1040ez tax return Any tips you reported to your employer for 2013 are included in the wages shown in box 1 of your Form W-2. 1040ez tax return Add to the amount in box 1 only the tips you did not report to your employer. 1040ez tax return    If you received $20 or more in cash and charge tips in a month and did not report all of those tips to your employer, see Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer, later. 1040ez tax return    If you did not keep a daily tip record as required and an amount is shown in box 8 of your Form W-2, see Allocated Tips, later. 1040ez tax return   If you kept a daily tip record and reported tips to your employer as required under the rules explained earlier, add the following tips to the amount in box 1 of your Form W-2. 1040ez tax return Cash and charge tips you received that totaled less than $20 for any month. 1040ez tax return The value of noncash tips, such as tickets, passes, or other items of value. 1040ez tax return Example. 1040ez tax return Ben Smith began working at the Blue Ocean Restaurant (his only employer in 2013) on June 30 and received $10,000 in wages during the year. 1040ez tax return Ben kept a daily tip record showing that his tips for June were $18 and his tips for the rest of the year totaled $7,000. 1040ez tax return He was not required to report his June tips to his employer, but he reported all of the rest of his tips to his employer as required. 1040ez tax return Ben's Form W-2 from Blue Ocean Restaurant shows $17,000 ($10,000 wages plus $7,000 reported tips) in box 1. 1040ez tax return He adds the $18 unreported tips to that amount and reports $17,018 as wages on his tax return. 1040ez tax return Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer. 1040ez tax return    If you received $20 or more in cash and charge tips in a month from any one job and did not report all of those tips to your employer, you must report the social security, Medicare, and Additional Medicare taxes on the unreported tips as additional tax on your return. 1040ez tax return To report these taxes, you must file a return even if you would not otherwise have to file. 1040ez tax return You must use Form 1040. 1040ez tax return (You cannot file Form 1040EZ or Form 1040A. 1040ez tax return )    Use Form 4137 to figure social security and Medicare taxes. 1040ez tax return Enter the tax on your return as instructed, and attach the completed Form 4137 to your return. 1040ez tax return Use Form 8959 to figure Additional Medicare Tax. 1040ez tax return    If you are subject to the Railroad Retirement Tax Act, you cannot use Form 4137 to pay railroad retirement tax on unreported tips. 1040ez tax return To get railroad retirement credit, you must report tips to your employer. 1040ez tax return Reporting uncollected social security, Medicare, or railroad retirement taxes on tips reported to your employer. 1040ez tax return   You may have uncollected taxes if your regular pay was not enough for your employer to withhold all the taxes you owe and you did not give your employer enough money to pay the rest of the taxes. 1040ez tax return For more information, see Giving your employer money for taxes , under Reporting Tips to Your Employer, earlier. 1040ez tax return   If your employer could not collect all the social security and Medicare taxes or railroad retirement tax you owe on tips reported for 2013, the uncollected taxes will be shown in box 12 of your Form W-2 (codes A and B). 1040ez tax return You must report these amounts as additional tax on your return. 1040ez tax return Unlike the uncollected portion of the regular (1. 1040ez tax return 45%) Medicare tax, the uncollected Additional Medicare Tax is not reported in box 12 of Form W-2 with code B. 1040ez tax return    To report these uncollected taxes, you must file a return even if you would not otherwise have to file. 1040ez tax return You must report these taxes on Form 1040, line 60. 1040ez tax return See the instructions for Form 1040, line 60. 1040ez tax return (You cannot file Form 1040EZ or Form 1040A. 1040ez tax return ) Allocated Tips If your employer allocated tips to you, they are shown separately in box 8 of your Form W-2. 1040ez tax return They are not included in box 1 with your wages and reported tips. 1040ez tax return If box 8 is blank, this discussion does not apply to you. 1040ez tax return What are allocated tips. 1040ez tax return   These are tips that your employer assigned to you in addition to the tips you reported to your employer for the year. 1040ez tax return Your employer will have done this only if: You worked in an establishment (restaurant, cocktail lounge, or similar business) that must allocate tips to employees, and The tips you reported to your employer were less than your share of 8% of food and drink sales. 1040ez tax return No income, social security, Medicare, Additional Medicare or railroad retirement taxes are withheld on allocated tips. 1040ez tax return How were your allocated tips figured. 1040ez tax return   The tips allocated to you are your share of an amount figured by subtracting the reported tips of all employees from 8% (or an approved lower rate) of food and drink sales (other than carryout sales and sales with a service charge of 10% or more). 1040ez tax return Your share of that amount was figured using either a method provided by an employer-employee agreement or a method provided by IRS regulations based on employees' sales or hours worked. 1040ez tax return For information about the exact allocation method used, ask your employer. 1040ez tax return Must you report your allocated tips on your tax return. 1040ez tax return   You must report all tips you received in 2013 on your tax return, including both cash tips and noncash tips. 1040ez tax return Any tips you reported to your employer for 2013 are included in the wages shown in box 1 of your Form W-2. 1040ez tax return Add to the amount in box 1 only the tips you did not report to your employer. 1040ez tax return This should include any allocated tips shown in box 8 on your Form(s) W-2, unless you have adequate records to show that you received less tips in the year than the allocated figures. 1040ez tax return   See What tips to report under Reporting Tips on Your Tax Return, and Keeping a Daily Tip Record , earlier. 1040ez tax return How to report allocated tips. 1040ez tax return   Report the amount in box 1 and the allocated tips in box 8 of your Form(s) W-2 as wages on Form 1040, line 7; Form 1040NR, line 8; or Form 1040NR-EZ, line 3. 1040ez tax return (You cannot file Form 1040A or Form 1040EZ when you have allocated tips. 1040ez tax return )    Because social security, Medicare, and Additional Medicare taxes were not withheld from the allocated tips, you must report those taxes as additional tax on your return. 1040ez tax return Complete Form 4137, and include the allocated tips on line 1 of the form. 1040ez tax return See Reporting social security, Medicare, Additional Medicare, or railroad retirement taxes on tips not reported to your employer under Reporting Tips on Your Tax Return, earlier. 1040ez tax return Prev  Up  Next   Home   More Online Publications
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Before You Buy

Being a smart consumer in a world with so many products and services can be somewhat daunting. With so many options available, it is easy to get overwhelmed with major purchase decisions- from the initial research, visiting stores to look at actual products, and then deciding which item to purchase, there are a lot of factors to consider. Fortunately, the Consumer Action Handbook is here to make the purchasing process easier and help you get the most for your money. Keep reading to learn more about this valuable resource.

Do Your Research

Before you begin your search for a new product, it is always helpful to assess your needs and what you can realistically afford. Although many companies produce or sell the item that you want, there can be a wide range of features and prices charged for what seems like a very easy purchase. Deciding what you need in advance helps to narrow the focus of your search and avoid paying for bells and whistles that you do not need.

In order to know what you should look for, you will need to do some preliminary research. There are a variety of sources of valuable information to consult during this step. Your research can be as simple as talking to trusted family and friends that have bought the same type of product recently or picking up a copy of Consumer Reports for unbiased ratings about the products. More than just the product itself, you should also be concerned about the type of customer service that the manufacturer or retailer has provided. Be sure to contact the Better Business Bureau or your local consumer affairs department to determine if any other consumers have filed a complaint against the companies you may possibly work with on your purchase.

Ready, Set, Shop

Once you have done your basic research, it’s time to start shopping. This could mean reading the sales flyers in the newspaper to get an understanding of the price ranges for the products you are looking for. If you are making a purchase that requires financing, such as a car or home, you may also want get a free copy of your credit report to see if you can qualify for a favorable interest rate.

You should now go and look at actual models in person. It may be helpful to take along the wishlist and your budget to keep you focused on your requirements for the item you choose. Keep in mind that there will be sales support on hand in the store; ask them to clarify facts, definitions, or other technical details rather than considering them as your advocate. Remain committed to your initial research and budget so you can avoid making an impulse decision or being pressured by sales staff to buy something that is more expensive than you need.

Once you have narrowed down the field to the item that you want and can afford, be sure to ask about service, return and refund policies, other fees, and the manufacturer warranties. If possible get all of the company’s policies and procedures in writing. Some companies offer extended warranties or service contracts for your purchases. Before agreeing to purchase this additional coverage, ask yourself questions such as:

  • Who manages the warranty (the manufacturer, the seller, or a third party)?
  • How is this coverage different from the manufacturer’s product warranty?
  • How are claims handled?

Drip Pricing

Have you ever planned to make a purchase, only to find out that there are additional, sometimes mandatory, fees that weren’t included in the advertised price? The total cost is not revealed until the end of the purchasing process. If so, you have been the victim of drip pricing. This practice makes it difficult for consumers to determine the full cost and compare similar options, when all the fees aren’t disclosed up front. You can protect yourself by reading the policies before completing the sale and asking questions of sales personnel. Also, if you have charged your purchase on your credit card, you may be able to dispute the extra fees if they are more than you had agreed to with the seller.

The 1040ez Tax Return

1040ez tax return Index A Accrual foreign taxes, adjustments, You may have to post a bond. 1040ez tax return Accrual method of accounting, Accrual method of accounting. 1040ez tax return Allocation Carryback/carryover between spouses, Allocations Between Spouses Foreign losses, Foreign Losses Foreign taxes, Allocation of Foreign Taxes U. 1040ez tax return S. 1040ez tax return losses, U. 1040ez tax return S. 1040ez tax return Losses Alternative minimum tax, Reminders Amended return, Claim for Refund American Samoa, resident of, Possession Exclusion Assistance (see Tax help) B Bankruptcy, effect of, Effect of bankruptcy or insolvency. 1040ez tax return Beneficiary, Partner or S corporation shareholder. 1040ez tax return Bond, income tax, You may have to post a bond. 1040ez tax return Boycotting countries, Taxes From International Boycott Operations C Capital gains and losses, Capital Gains and Losses Carryback and carryover, Carrybacks and carryovers. 1040ez tax return Allocations between spouses, Allocations Between Spouses Claim for refund, Time Limit on Tax Assessment Joint return, Married Couples Joint return–deduction year, Joint Return Filed in a Deduction Year Taxes all credited or deducted, Claim for Refund Time limit on tax assessment, Time Limit on Tax Assessment Choice to take credit or deduction Changing your choice, Making or Changing Your Choice Choice applied to all qualified foreign taxes, Choice Applies to All Qualified Foreign Taxes Claim for refund, Claim for Refund Classes of gross income, Classes of gross income. 1040ez tax return Compensation for labor or personal services, Determining the Source of Compensation for Labor or Personal Services Geographical basis, Geographical basis. 1040ez tax return Comprehensive example, Comprehensive Example — Filled-In Form 1116 Controlled foreign corporation shareholder, Controlled foreign corporation shareholder. 1040ez tax return , Income from controlled foreign corporations. 1040ez tax return Covered asset acquisition, Covered Asset Acquisition Credit How to claim, How To Claim the Credit How to figure, How To Figure the Credit Limit on, Limit on the Credit Credit for taxes paid or accrued, Credit for Taxes Paid or Accrued D Deduction for foreign taxes that are not income taxes, Foreign taxes that are not income taxes. 1040ez tax return Distributions Lump-sum, Lump-Sum Distribution Dividends Taxes on, Taxes Imposed on Certain Dividends Dual-capacity taxpayers, Dual-capacity taxpayers. 1040ez tax return E Economic benefits, Specific economic benefit. 1040ez tax return Examples Comprehensive, Comprehensive Example — Filled-In Form 1116 Simple, Simple Example — Filled-In Form 1116 Excess limit, Carryback and Carryover Exchange rates, Foreign Currency and Exchange Rates Excluded income Foreign earned, Foreign Earned Income and Housing Exclusions Taxes on, Taxes on Excluded Income Exemption from foreign tax credit limit, Exemption from foreign tax credit limit. 1040ez tax return Export financing interest, Export financing interest. 1040ez tax return Extraterritorial income, Extraterritorial Income Exclusion F Financial services income, Financial services income. 1040ez tax return Foreign corporation–U. 1040ez tax return S. 1040ez tax return shareholders, filing requirements, Taxes of U. 1040ez tax return S. 1040ez tax return Persons Controlling Foreign Corporations and Partnerships Foreign country, Foreign country. 1040ez tax return Foreign currency and exchange rates, Foreign Currency and Exchange Rates Foreign income, translating, Translating foreign currency into U. 1040ez tax return S. 1040ez tax return dollars. 1040ez tax return Foreign losses Allocation of, Foreign Losses Recapture of, Recapture of Prior Year Overall Foreign Loss Accounts Foreign mineral income, taxes on, Taxes on Foreign Mineral Income Foreign oil and gas extraction income, taxes on, Taxes on Combined Foreign Oil and Gas Income Foreign partnerships–U. 1040ez tax return S. 1040ez tax return partners, filing requirement, Taxes of U. 1040ez tax return S. 1040ez tax return Persons Controlling Foreign Corporations and Partnerships Foreign tax refund, Foreign tax refund. 1040ez tax return , Foreign tax refund. 1040ez tax return Foreign tax(es) Allocation to income categories, Allocation of Foreign Taxes For which you cannot take a credit, Foreign Taxes for Which You Cannot Take a Credit Imposed on foreign refund, Foreign tax imposed on foreign refund. 1040ez tax return Qualifying for credit, What Foreign Taxes Qualify for the Credit? Redetermination, Foreign Tax Redetermination Refund, Foreign tax imposed on foreign refund. 1040ez tax return Form 1040X, Claim for Refund 1116, Form 1116, Simple Example — Filled-In Form 1116, Comprehensive Example — Filled-In Form 1116 5471, Taxes of U. 1040ez tax return S. 1040ez tax return Persons Controlling Foreign Corporations and Partnerships 5713, Form 5713 required. 1040ez tax return 8833, Report required. 1040ez tax return 8865, Taxes of U. 1040ez tax return S. 1040ez tax return Persons Controlling Foreign Corporations and Partnerships 8873, Extraterritorial Income Exclusion Free tax services, Free help with your tax return. 1040ez tax return Functional currency, Translating foreign currency into U. 1040ez tax return S. 1040ez tax return dollars. 1040ez tax return G General category income, separate limit, General Category Income H Help (see Tax help) High-taxed income, High-taxed income. 1040ez tax return I Income from sources in U. 1040ez tax return S. 1040ez tax return possessions, Determining the source of income from U. 1040ez tax return S. 1040ez tax return possessions. 1040ez tax return Income re-sourced by treaty, separate limit, Certain Income Re-Sourced By Treaty Income tax, Income Tax Income tax bond, You may have to post a bond. 1040ez tax return Interest, Penalties and interest. 1040ez tax return Interest expense, apportioning, Interest expense. 1040ez tax return International boycott, Taxes From International Boycott Operations Itemized deduction, Taxes for Which You Can Only Take an Itemized Deduction J Joint return Carryback and carryover, Married Couples Credit based on foreign tax of both spouses, Joint return. 1040ez tax return Filed in a deduction year, Joint Return Filed in a Deduction Year L Levy, Income Tax Limit on credit, Limit on the Credit Losses, foreign, Foreign Losses Allocation of, Foreign Losses Recapture of, Recapture of Prior Year Overall Foreign Loss Accounts Losses, U. 1040ez tax return S. 1040ez tax return , U. 1040ez tax return S. 1040ez tax return Losses Allocation of, U. 1040ez tax return S. 1040ez tax return Losses Lump-sum distributions, Lump-Sum Distribution M Making or changing your choice, Making or Changing Your Choice Married couples Carryback and carryover, Married Couples Joint return, Joint return. 1040ez tax return Mineral income, foreign,, Taxes on Foreign Mineral Income Mutual fund distributions, Mutual fund shareholder. 1040ez tax return , Passive income. 1040ez tax return Mutual fund shareholder, Mutual fund shareholder. 1040ez tax return N Nonresident aliens, Nonresident Aliens Notice to the IRS of change in tax, Notice to the Internal Revenue Service (IRS) of Redetermination O Overall foreign loss, Overall foreign loss. 1040ez tax return P Partner, Partner or S corporation shareholder. 1040ez tax return , Partnership distributive share. 1040ez tax return , Foreign Taxes From a Partnership or an S Corporation Passive category income, Passive Category Income Penalties, Failure-to-notify penalty. 1040ez tax return , Penalties and interest. 1040ez tax return Failure to file Form 5471, 8865, Penalty for not filing Form 5471 or Form 8865. 1040ez tax return Failure to file Form 5713, Penalty for failure to file. 1040ez tax return Failure to notify, foreign tax change, Failure-to-notify penalty. 1040ez tax return Failure to report treaty information, Report required. 1040ez tax return Pension, employment, and disability fund payments, Pension, unemployment, and disability fund payments. 1040ez tax return Personal property, sales or exchanges of, Determining the Source of Income From the Sales or Exchanges of Certain Personal Property Possession exclusion, Possession Exclusion Publications (see Tax help) Purchase or sale of oil or gas, taxes in connection with, Taxes in Connection With the Purchase or Sale of Oil or Gas Q Qualified business unit, Translating foreign currency into U. 1040ez tax return S. 1040ez tax return dollars. 1040ez tax return Qualified dividends, Capital Gains and Losses R Rate of exchange, Rate of exchange for foreign taxes paid. 1040ez tax return Recapture of foreign losses, Recapture of Prior Year Overall Foreign Loss Accounts Records to keep, Records To Keep Redetermination of foreign tax, Foreign Tax Redetermination Refund claims, time limit, Time Limit on Refund Claims Refund, foreign tax, Foreign tax refund. 1040ez tax return Reporting requirements (international boycott), Reporting requirements. 1040ez tax return Resident aliens, Resident Aliens S S corporation shareholder, Partner or S corporation shareholder. 1040ez tax return , Foreign Taxes From a Partnership or an S Corporation Sanctioned countries, Taxes Imposed By Sanctioned Countries (Section 901(j) Income) Section 901(j) income, Section 901(j) Income Section 901(j) sanctioned income, Taxes Imposed By Sanctioned Countries (Section 901(j) Income) Separate limit income, Separate Limit Income General category income, General Category Income Income re-sourced by treaty, Certain Income Re-Sourced By Treaty Lump-sum distribution, Lump-Sum Distribution Passive category income, Passive Category Income Section 901(j) income, Section 901(j) Income Shareholder, Mutual fund shareholder. 1040ez tax return Simple example, Simple Example — Filled-In Form 1116 Soak-up taxes, Soak-up taxes. 1040ez tax return Social security taxes, Pension, unemployment, and disability fund payments. 1040ez tax return Source of compensation for labor or personal services Alternative basis, Alternative basis. 1040ez tax return Multi-year compensation, Multi-year compensation. 1040ez tax return Time basis, Time basis. 1040ez tax return Transportation income, Transportation Income State income taxes, State income taxes. 1040ez tax return Subsidy, Subsidy received. 1040ez tax return T Tax help, How To Get Tax Help Tax treaties, Tax Treaties Taxable income from sources outside the U. 1040ez tax return S. 1040ez tax return , determination of, Determining Taxable Income From Sources Outside the United States Taxes Excluded income, Foreign Earned Income and Housing Exclusions In lieu of income taxes, Taxes in Lieu of Income Taxes On dividends, Taxes Imposed on Certain Dividends Paid or accrued, Credit for Taxes Paid or Accrued Withheld on income or gain, Taxes Withheld on Income or Gain (Other Than Dividends) Taxes related to a foreign tax credit splitting event, Taxes Related to a Foreign Tax Credit Splitting Event Time limit Refund claims, Time Limit on Refund Claims Tax assessment, Time Limit on Tax Assessment Translating foreign currency, Translating foreign currency into U. 1040ez tax return S. 1040ez tax return dollars. 1040ez tax return U U. 1040ez tax return S. 1040ez tax return citizens, U. 1040ez tax return S. 1040ez tax return Citizens U. 1040ez tax return S. 1040ez tax return losses Allocation of, U. 1040ez tax return S. 1040ez tax return Losses U. 1040ez tax return S. 1040ez tax return possessions, U. 1040ez tax return S. 1040ez tax return possessions. 1040ez tax return Unused foreign tax credits, carryback or carryover, Carrybacks and carryovers. 1040ez tax return , Carryback and Carryover W Wages, Wages completely excluded. 1040ez tax return When refunds can be claimed, Time Limit on Refund Claims When tax can be assessed, Time Limit on Tax Assessment Who can take the credit, Who Can Take the Credit? 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