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2012 Income Tax Forms

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2012 Income Tax Forms

2012 income tax forms 5. 2012 income tax forms   How To Get Tax Help Table of Contents Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. 2012 income tax forms Free help with your tax return. 2012 income tax forms   You can get free help preparing your return nationwide from IRS-certified volunteers. 2012 income tax forms The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 2012 income tax forms The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2012 income tax forms Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2012 income tax forms In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 2012 income tax forms To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 2012 income tax forms gov, download the IRS2Go app, or call 1-800-906-9887. 2012 income tax forms   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2012 income tax forms To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2012 income tax forms aarp. 2012 income tax forms org/money/taxaide or call 1-888-227-7669. 2012 income tax forms For more information on these programs, go to IRS. 2012 income tax forms gov and enter “VITA” in the search box. 2012 income tax forms Internet. 2012 income tax forms    IRS. 2012 income tax forms gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 2012 income tax forms Download the free IRS2Go app from the iTunes app store or from Google Play. 2012 income tax forms Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2012 income tax forms Check the status of your 2013 refund with the Where's My Refund? application on IRS. 2012 income tax forms gov or download the IRS2Go app and select the Refund Status option. 2012 income tax forms The IRS issues more than 9 out of 10 refunds in less than 21 days. 2012 income tax forms Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 2012 income tax forms You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 income tax forms The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2012 income tax forms Use the Interactive Tax Assistant (ITA) to research your tax questions. 2012 income tax forms No need to wait on the phone or stand in line. 2012 income tax forms The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. 2012 income tax forms When you reach the response screen, you can print the entire interview and the final response for your records. 2012 income tax forms New subject areas are added on a regular basis. 2012 income tax forms  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 2012 income tax forms gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 2012 income tax forms You can use the IRS Tax Map, to search publications and instructions by topic or keyword. 2012 income tax forms The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 2012 income tax forms When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 2012 income tax forms Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 2012 income tax forms You can also ask the IRS to mail a return or an account transcript to you. 2012 income tax forms Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 2012 income tax forms gov or by calling 1-800-908-9946. 2012 income tax forms Tax return and tax account transcripts are generally available for the current year and the past three years. 2012 income tax forms Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 2012 income tax forms Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 2012 income tax forms If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 2012 income tax forms Check the status of your amended return using Where's My Amended Return? Go to IRS. 2012 income tax forms gov and enter Where's My Amended Return? in the search box. 2012 income tax forms You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2012 income tax forms It can take up to 3 weeks from the date you mailed it to show up in our system. 2012 income tax forms Make a payment using one of several safe and convenient electronic payment options available on IRS. 2012 income tax forms gov. 2012 income tax forms Select the Payment tab on the front page of IRS. 2012 income tax forms gov for more information. 2012 income tax forms Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 2012 income tax forms Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2012 income tax forms gov. 2012 income tax forms Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2012 income tax forms Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2012 income tax forms gov. 2012 income tax forms Request an Electronic Filing PIN by going to IRS. 2012 income tax forms gov and entering Electronic Filing PIN in the search box. 2012 income tax forms Download forms, instructions and publications, including accessible versions for people with disabilities. 2012 income tax forms Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 2012 income tax forms gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 2012 income tax forms An employee can answer questions about your tax account or help you set up a payment plan. 2012 income tax forms Before you visit, check the Office Locator on IRS. 2012 income tax forms gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 2012 income tax forms If you have a special need, such as a disability, you can request an appointment. 2012 income tax forms Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2012 income tax forms Apply for an Employer Identification Number (EIN). 2012 income tax forms Go to IRS. 2012 income tax forms gov and enter Apply for an EIN in the search box. 2012 income tax forms Read the Internal Revenue Code, regulations, or other official guidance. 2012 income tax forms Read Internal Revenue Bulletins. 2012 income tax forms Sign up to receive local and national tax news and more by email. 2012 income tax forms Just click on “subscriptions” above the search box on IRS. 2012 income tax forms gov and choose from a variety of options. 2012 income tax forms Phone. 2012 income tax forms   You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2012 income tax forms Download the free IRS2Go app from the iTunes app store or from Google Play. 2012 income tax forms Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 2012 income tax forms gov, or download the IRS2Go app. 2012 income tax forms Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2012 income tax forms The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2012 income tax forms Most VITA and TCE sites offer free electronic filing. 2012 income tax forms Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2012 income tax forms Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2012 income tax forms Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. 2012 income tax forms If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2012 income tax forms The IRS issues more than 9 out of 10 refunds in less than 21 days. 2012 income tax forms Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 income tax forms Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. 2012 income tax forms The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2012 income tax forms Note, the above information is for our automated hotline. 2012 income tax forms Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. 2012 income tax forms Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2012 income tax forms You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2012 income tax forms It can take up to 3 weeks from the date you mailed it to show up in our system. 2012 income tax forms Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). 2012 income tax forms You should receive your order within 10 business days. 2012 income tax forms Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 2012 income tax forms If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. 2012 income tax forms Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2012 income tax forms The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2012 income tax forms These individuals can also contact the IRS through relay services such as the Federal Relay Service. 2012 income tax forms Walk-in. 2012 income tax forms   You can find a selection of forms, publications and services — in-person. 2012 income tax forms Products. 2012 income tax forms You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2012 income tax forms Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2012 income tax forms Services. 2012 income tax forms You can walk in to your local TAC for face-to-face tax help. 2012 income tax forms An employee can answer questions about your tax account or help you set up a payment plan. 2012 income tax forms Before visiting, use the Office Locator tool on IRS. 2012 income tax forms gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 2012 income tax forms Mail. 2012 income tax forms   You can send your order for forms, instructions, and publications to the address below. 2012 income tax forms You should receive a response within 10 business days after your request is received. 2012 income tax forms Internal Revenue Service 1201 N. 2012 income tax forms Mitsubishi Motorway Bloomington, IL 61705-6613   The Taxpayer Advocate Service Is Here to Help You. 2012 income tax forms The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2012 income tax forms Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2012 income tax forms   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 2012 income tax forms We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 2012 income tax forms You face (or your business is facing) an immediate threat of adverse action. 2012 income tax forms You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2012 income tax forms   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 2012 income tax forms Here's why we can help: TAS is an independent organization within the IRS. 2012 income tax forms Our advocates know how to work with the IRS. 2012 income tax forms Our services are free and tailored to meet your needs. 2012 income tax forms We have offices in every state, the District of Columbia, and Puerto Rico. 2012 income tax forms   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. 2012 income tax forms   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2012 income tax forms If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 2012 income tax forms Prev  Up  Next   Home   More Online Publications
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The 2012 Income Tax Forms

2012 income tax forms Internal Revenue Bulletin:  2011-12  March 21, 2011  Rev. 2012 income tax forms Proc. 2012 income tax forms 2011-21 Table of Contents SECTION 1. 2012 income tax forms PURPOSE SECTION 2. 2012 income tax forms BACKGROUND SECTION 3. 2012 income tax forms SCOPE SECTION 4. 2012 income tax forms APPLICATION SECTION 5. 2012 income tax forms EFFECTIVE DATE SECTION 6. 2012 income tax forms EFFECT ON OTHER DOCUMENTS SECTION 7. 2012 income tax forms DRAFTING INFORMATION SECTION 1. 2012 income tax forms PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2011, including separate tables of limitations on depreciation deductions for trucks and vans; (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2011, including a separate table of inclusion amounts for lessees of trucks and vans; and (3) revised tables of depreciation limitations and lessee inclusion amounts for passenger automobiles that were first placed in service or first leased by the taxpayer, respectively, during 2010 and to which the 50 percent additional first year depreciation deduction under § 168(k)(1)(A) of the Internal Revenue Code or the 100 percent additional first year depreciation deduction under § 168(k)(5) applies. 2012 income tax forms The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7). 2012 income tax forms SECTION 2. 2012 income tax forms BACKGROUND . 2012 income tax forms 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 2012 income tax forms For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. 2012 income tax forms The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 2012 income tax forms This change reflects the higher rate of price inflation for trucks and vans since 1988. 2012 income tax forms . 2012 income tax forms 02 Section 2022(a) of the Small Business Jobs Act of 2010, Pub. 2012 income tax forms L. 2012 income tax forms No. 2012 income tax forms 111-240, 124 Stat. 2012 income tax forms 2504 (September 27, 2010), extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property (as defined in § 168(k)(2)) acquired by the taxpayer after December 31, 2007, and before January 1, 2011, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2011. 2012 income tax forms Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. 2012 income tax forms L. 2012 income tax forms No. 2012 income tax forms 111-312, 124 Stat. 2012 income tax forms 3296 (Dec. 2012 income tax forms 17, 2010) (the “Act”) further extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. 2012 income tax forms Section 401(b) of the Act further amended § 168(k) by adding § 168(k)(5). 2012 income tax forms It allows a 100 percent additional first year depreciation deduction for qualified property acquired by a taxpayer after September 8, 2010, and before January 1, 2012, if the taxpayer places the property in service generally before January 1, 2012. 2012 income tax forms Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. 2012 income tax forms . 2012 income tax forms 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). 2012 income tax forms Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. 2012 income tax forms Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv). 2012 income tax forms Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. 2012 income tax forms This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2011 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. 2012 income tax forms . 2012 income tax forms 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 2012 income tax forms The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 2012 income tax forms Under § 1. 2012 income tax forms 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. 2012 income tax forms One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 2012 income tax forms Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 2012 income tax forms SECTION 3. 2012 income tax forms SCOPE . 2012 income tax forms 01 The limitations on depreciation deductions in section 4. 2012 income tax forms 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2011, and continue to apply for each taxable year that the passenger automobile remains in service. 2012 income tax forms . 2012 income tax forms 02 The tables in section 4. 2012 income tax forms 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2011. 2012 income tax forms Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 2012 income tax forms See Rev. 2012 income tax forms Proc. 2012 income tax forms 2006-18, 2006-1 C. 2012 income tax forms B. 2012 income tax forms 645, for passenger automobiles first leased during calendar year 2006; Rev. 2012 income tax forms Proc. 2012 income tax forms 2007-30, 2007-1 C. 2012 income tax forms B. 2012 income tax forms 1104, for passenger automobiles first leased during calendar year 2007; Rev. 2012 income tax forms Proc. 2012 income tax forms 2008-22, 2008-1 C. 2012 income tax forms B. 2012 income tax forms 658, for passenger automobiles first leased during calendar year 2008; Rev. 2012 income tax forms Proc. 2012 income tax forms 2009-24, 2009-1 C. 2012 income tax forms B. 2012 income tax forms 885, for passenger automobiles first leased during calendar year 2009; and Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18, 2010-1 C. 2012 income tax forms B. 2012 income tax forms 427, as amplified and modified by section 4. 2012 income tax forms 03 of this revenue procedure, for passenger automobiles first leased during calendar year 2010. 2012 income tax forms SECTION 4. 2012 income tax forms APPLICATION . 2012 income tax forms 01 Limitations on Depreciation Deductions for Certain Automobiles. 2012 income tax forms (1) Amount of the inflation adjustment. 2012 income tax forms (a) Passenger automobiles (other than trucks or vans). 2012 income tax forms Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 2012 income tax forms Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 2012 income tax forms The new car component of the CPI was 115. 2012 income tax forms 2 for October 1987 and 137. 2012 income tax forms 880 for October 2010. 2012 income tax forms The October 2010 index exceeded the October 1987 index by 22. 2012 income tax forms 680. 2012 income tax forms Therefore, the automobile price inflation adjustment for 2011 for passenger automobiles (other than trucks and vans) is 19. 2012 income tax forms 69 percent (22. 2012 income tax forms 680/115. 2012 income tax forms 2 x 100%). 2012 income tax forms The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2012 income tax forms 1969, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2011. 2012 income tax forms This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2011. 2012 income tax forms (b) Trucks and vans. 2012 income tax forms To determine the dollar limitations for trucks and vans first placed in service during calendar year 2011, the Service uses the new truck component of the CPI instead of the new car component. 2012 income tax forms The new truck component of the CPI was 112. 2012 income tax forms 4 for October 1987 and 142. 2012 income tax forms 556 for October 2010. 2012 income tax forms The October 2010 index exceeded the October 1987 index by 30. 2012 income tax forms 156. 2012 income tax forms Therefore, the automobile price inflation adjustment for 2011 for trucks and vans is 26. 2012 income tax forms 83 percent (30. 2012 income tax forms 156/112. 2012 income tax forms 4 x 100%). 2012 income tax forms The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2012 income tax forms 2683, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 2012 income tax forms This adjustment applies to all trucks and vans that are first placed in service in calendar year 2011. 2012 income tax forms (2) Amount of the limitation. 2012 income tax forms Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2011. 2012 income tax forms Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction applies. 2012 income tax forms Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction does not apply. 2012 income tax forms The Service intends to issue additional guidance addressing the interaction between the 100 percent additional first year depreciation deduction and § 280F(a) for the taxable years subsequent to the first taxable year. 2012 income tax forms REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 . 2012 income tax forms 02 Inclusions in Income of Lessees of Passenger Automobiles. 2012 income tax forms A taxpayer must follow the procedures in § 1. 2012 income tax forms 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2011. 2012 income tax forms In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. 2012 income tax forms REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $18,500 $19,000 3 8 11 13 16 19,000 19,500 4 9 13 15 18 19,500 20,000 4 10 15 17 20 20,000 20,500 5 11 16 19 23 20,500 21,000 5 12 18 21 25 21,000 21,500 6 13 19 24 26 21,500 22,000 6 14 21 26 29 22,000 23,000 7 16 23 29 32 23,000 24,000 8 18 27 32 37 24,000 25,000 9 20 30 36 42 25,000 26,000 10 23 33 40 46 26,000 27,000 11 25 36 44 51 27,000 28,000 12 27 40 48 55 28,000 29,000 13 29 43 52 60 29,000 30,000 14 31 47 55 65 30,000 31,000 15 34 49 60 69 31,000 32,000 16 36 53 63 73 32,000 33,000 17 38 56 68 77 33,000 34,000 18 40 60 71 82 34,000 35,000 19 42 63 75 87 35,000 36,000 20 45 66 79 91 36,000 37,000 21 47 69 83 96 37,000 38,000 22 49 73 87 100 38,000 39,000 23 51 76 91 105 39,000 40,000 24 53 80 94 110 40,000 41,000 25 56 82 99 114 41,000 42,000 26 58 86 102 119 42,000 43,000 27 60 89 107 123 43,000 44,000 28 62 93 110 128 44,000 45,000 29 64 96 114 133 45,000 46,000 30 67 98 119 137 46,000 47,000 31 69 102 122 141 47,000 48,000 32 71 105 127 145 48,000 49,000 33 73 109 130 150 49,000 50,000 34 76 111 134 155 50,000 51,000 35 78 115 138 159 51,000 52,000 36 80 118 142 164 52,000 53,000 37 82 122 146 168 53,000 54,000 38 84 125 150 173 54,000 55,000 39 87 128 153 178 55,000 56,000 40 89 131 158 182 56,000 57,000 41 91 135 161 187 57,000 58,000 42 93 138 166 191 58,000 59,000 43 95 142 169 196 59,000 60,000 44 98 144 174 200 60,000 62,000 46 101 149 179 207 62,000 64,000 48 105 156 187 216 64,000 66,000 50 109 163 195 225 66,000 68,000 52 114 169 203 234 68,000 70,000 54 118 176 211 243 70,000 72,000 56 123 182 218 253 72,000 74,000 58 127 189 226 262 74,000 76,000 60 132 195 234 270 76,000 78,000 62 136 202 242 279 78,000 80,000 64 140 209 250 288 80,000 85,000 67 148 220 264 304 85,000 90,000 72 159 237 283 327 90,000 95,000 77 170 253 303 350 95,000 100,000 82 181 269 323 372 100,000 110,000 90 198 293 352 406 110,000 120,000 100 220 326 391 452 120,000 130,000 110 242 359 430 497 130,000 140,000 120 264 392 469 543 140,000 150,000 130 286 424 509 588 150,000 160,000 140 308 457 548 633 160,000 170,000 150 330 490 587 679 170,000 180,000 160 352 523 626 724 180,000 190,000 170 374 555 666 769 190,000 200,000 180 396 588 705 815 200,000 210,000 190 418 621 744 860 210,000 220,000 200 440 654 784 904 220,000 230,000 210 462 687 823 950 230,000 240,000 220 484 719 863 995 240,000 And up 230 506 752 902 1,040 REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 3 7 9 12 13 19,500 20,000 3 8 11 14 15 20,000 20,500 4 9 13 15 18 20,500 21,000 4 10 15 17 20 21,000 21,500 5 11 16 20 22 21,500 22,000 5 12 18 22 24 22,000 23,000 6 14 20 24 29 23,000 24,000 7 16 24 28 32 24,000 25,000 8 18 27 32 37 25,000 26,000 9 20 31 36 41 26,000 27,000 10 23 33 40 46 27,000 28,000 11 25 37 43 51 28,000 29,000 12 27 40 48 55 29,000 30,000 13 29 43 52 60 30,000 31,000 14 31 47 56 64 31,000 32,000 15 34 49 60 69 32,000 33,000 16 36 53 63 74 33,000 34,000 17 38 56 68 78 34,000 35,000 18 40 60 71 83 35,000 36,000 19 43 62 76 87 36,000 37,000 20 45 66 79 92 37,000 38,000 21 47 69 83 97 38,000 39,000 22 49 73 87 101 39,000 40,000 23 51 76 91 105 40,000 41,000 24 54 79 95 109 41,000 42,000 25 56 82 99 114 42,000 43,000 26 58 86 103 118 43,000 44,000 27 60 89 107 123 44,000 45,000 28 62 93 110 128 45,000 46,000 29 65 95 115 132 46,000 47,000 30 67 99 118 137 47,000 48,000 31 69 102 123 141 48,000 49,000 32 71 106 126 146 49,000 50,000 33 73 109 130 151 50,000 51,000 34 76 112 134 155 51,000 52,000 35 78 115 138 160 52,000 53,000 36 80 118 143 164 53,000 54,000 37 82 122 146 169 54,000 55,000 38 84 125 150 173 55,000 56,000 39 87 128 154 177 56,000 57,000 40 89 131 158 182 57,000 58,000 41 91 135 162 186 58,000 59,000 42 93 138 166 191 59,000 60,000 43 95 142 169 196 60,000 62,000 45 99 146 175 203 62,000 64,000 47 103 153 183 212 64,000 66,000 49 107 160 191 221 66,000 68,000 51 112 166 199 229 68,000 70,000 53 116 173 206 239 70,000 72,000 55 121 179 214 248 72,000 74,000 57 125 186 222 257 74,000 76,000 59 129 192 231 266 76,000 78,000 61 134 198 239 275 78,000 80,000 63 138 205 246 285 80,000 85,000 66 146 217 260 300 85,000 90,000 71 157 233 280 322 90,000 95,000 76 168 250 299 345 95,000 100,000 81 179 266 319 368 100,000 110,000 89 196 290 348 402 110,000 120,000 99 218 323 387 447 120,000 130,000 109 240 355 427 493 130,000 140,000 119 262 388 466 538 140,000 150,000 129 284 421 505 583 150,000 160,000 139 306 454 544 629 160,000 170,000 149 328 487 583 674 170,000 180,000 159 350 519 623 719 180,000 190,000 169 372 552 662 765 190,000 200,000 179 394 585 701 810 200,000 210,000 189 416 618 740 856 210,000 220,000 199 438 651 779 901 220,000 230,000 209 460 683 819 946 230,000 240,000 219 482 716 858 992 240,000 And up 229 504 749 897 1,037 . 2012 income tax forms 03 Revised Amounts for Passenger Automobiles Placed in Service During 2010. 2012 income tax forms (1) Calculation of the Revised Amount. 2012 income tax forms The revised depreciation limits provided in this section 4. 2012 income tax forms 03 were calculated by increasing the existing limitations on the first year allowance in Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 by $8,000 as provided in § 168(k)(2)(F)(i). 2012 income tax forms (2) Amount of the Revised Limitation. 2012 income tax forms For passenger automobiles (that are not trucks or vans) placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 7 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. 2012 income tax forms For trucks or vans placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 8 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. 2012 income tax forms If the § 168(k) additional first year depreciation deduction does not apply to a passenger automobile placed in service by the taxpayer in calendar year 2010, the depreciation limitations for each taxable year in Tables 1 and 2 of Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 apply. 2012 income tax forms REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 7 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 2012 income tax forms PROC. 2012 income tax forms 2011-21 TABLE 8 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 (3) Modification to lease inclusion amounts for 2010. 2012 income tax forms The lease inclusion amounts in Tables 3 and 4 of Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 are modified by striking the first four lines of the inclusion amounts in each table. 2012 income tax forms Consequently, Table 3 of Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 applies to passenger automobiles (other than trucks and vans) that are first leased by the taxpayer in calendar year 2010 with a fair market value over $18,500, and Table 4 of Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 applies to trucks and vans that are first leased by the taxpayer in calendar year 2010 with a fair market value over $19,000. 2012 income tax forms SECTION 5. 2012 income tax forms EFFECTIVE DATE This revenue procedure, with the exception of section 4. 2012 income tax forms 03, applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2011. 2012 income tax forms Section 4. 2012 income tax forms 03 of this revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. 2012 income tax forms SECTION 6. 2012 income tax forms EFFECT ON OTHER DOCUMENTS Rev. 2012 income tax forms Proc. 2012 income tax forms 2010-18 is amplified and modified. 2012 income tax forms SECTION 7. 2012 income tax forms DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 2012 income tax forms Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 2012 income tax forms For further information regarding this revenue procedure, contact Mr. 2012 income tax forms Harvey at (202) 622-4930 (not a toll-free call). 2012 income tax forms Prev  Up  Next   Home   More Internal Revenue Bulletins