Form 1040ez 2012
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Form 1040ez 2012
Form 1040ez 2012 10. Form 1040ez 2012 Retirement Savings Contributions Credit (Saver's Credit) Table of Contents Full-time student. Form 1040ez 2012 Adjusted gross income. Form 1040ez 2012 Distributions received by spouse. Form 1040ez 2012 Testing period. Form 1040ez 2012 If you or your employer make eligible contributions (defined later) to a retirement plan, you may be able to take a credit of up to $1,000 (up to $2,000 if filing jointly). Form 1040ez 2012 This credit could reduce the federal income tax you pay dollar for dollar. Form 1040ez 2012 Can you claim the credit? If you or your employer make eligible contributions to a retirement plan, you can claim the credit if all of the following apply. Form 1040ez 2012 You are not under age 18. Form 1040ez 2012 You are not a full-time student (explained next). Form 1040ez 2012 No one else, such as your parent(s), claims an exemption for you on their tax return. Form 1040ez 2012 Your adjusted gross income (defined later) is not more than: $59,000 for 2013 ($60,000 for 2014) if your filing status is married filing jointly, $44,250 for 2013 ($45,000 for 2014) if your filing status is head of household (with qualifying person), or $29,500 for 2013 ($30,000 for 2014) if your filing status is single, married filing separately, or qualifying widow(er) with dependent child. Form 1040ez 2012 Full-time student. Form 1040ez 2012 You are a full-time student if, during some part of each of 5 calendar months (not necessarily consecutive) during the calendar year, you are either: A full-time student at a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or A student taking a full-time, on-farm training course given by either a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or a state, county, or local government. Form 1040ez 2012 You are a full-time student if you are enrolled for the number of hours or courses the school considers to be full-time. Form 1040ez 2012 Adjusted gross income. Form 1040ez 2012 This is generally the amount on line 38 of your 2013 Form 1040 or line 22 of your 2013 Form 1040A. Form 1040ez 2012 However, you must add to that amount any exclusion or deduction claimed for the year for: Foreign earned income, Foreign housing costs, Income for bona fide residents of American Samoa, and Income from Puerto Rico. Form 1040ez 2012 Eligible contributions. Form 1040ez 2012 These include: Contributions to a traditional or Roth IRA, Elective deferrals, including amounts designated as after-tax Roth contributions, to: A 401(k) plan (including a SIMPLE 401(k)), A section 403(b) annuity, An eligible deferred compensation plan of a state or local government (a governmental 457 plan), A SIMPLE IRA plan, or A salary reduction SEP, and Contributions to a section 501(c)(18) plan. Form 1040ez 2012 They also include voluntary after-tax employee contributions to a tax-qualified retirement plan or a section 403(b) annuity. Form 1040ez 2012 For purposes of the credit, an employee contribution will be voluntary as long as it is not required as a condition of employment. Form 1040ez 2012 Reducing eligible contributions. Form 1040ez 2012 Reduce your eligible contributions (but not below zero) by the total distributions you received during the testing period (defined later) from any IRA, plan, or annuity included earlier under Eligible contributions. Form 1040ez 2012 Also reduce your eligible contributions by any distribution from a Roth IRA that is not rolled over, even if the distribution is not taxable. Form 1040ez 2012 Do not reduce your eligible contributions by any of the following: The portion of any distribution which is not includible in income because it is a trustee-to-trustee transfer or a rollover distribution. Form 1040ez 2012 Any distribution that is a return of a contribution to an IRA (including a Roth IRA) made during the year for which you claim the credit if: The distribution is made before the due date (including extensions) of your tax return for that year, You do not take a deduction for the contribution, and The distribution includes any income attributable to the contribution. Form 1040ez 2012 Loans from a qualified employer plan treated as a distribution. Form 1040ez 2012 Distributions of excess contributions or deferrals (and income attributable to excess contributions and deferrals). Form 1040ez 2012 Distributions of dividends paid on stock held by an employee stock ownership plan under section 404(k). Form 1040ez 2012 Distributions from an eligible retirement plan that are converted or rolled over to a Roth IRA. Form 1040ez 2012 Distributions from a military retirement plan. Form 1040ez 2012 Distributions received by spouse. Form 1040ez 2012 Any distributions your spouse receives are treated as received by you if you file a joint return with your spouse both for the year of the distribution and for the year for which you claim the credit. Form 1040ez 2012 Testing period. Form 1040ez 2012 The testing period consists of: The year in which you claim the credit, The 2 years before the year in which you claim the credit, and The period after the end of the year in which you claim the credit and before the due date of the return (including extensions) for filing your return for the year in which you claimed the credit. Form 1040ez 2012 Example. Form 1040ez 2012 You and your spouse filed joint returns in 2011 and 2012, and plan to do so in 2013 and 2014. Form 1040ez 2012 You received a taxable distribution from a qualified plan in 2011 and a taxable distribution from an eligible section 457(b) deferred compensation plan in 2012. Form 1040ez 2012 Your spouse received taxable distributions from a Roth IRA in 2013 and tax-free distributions from a Roth IRA in 2014 before April 15. Form 1040ez 2012 You made eligible contributions to an IRA in 2013 and you otherwise qualify for this credit. Form 1040ez 2012 You must reduce the amount of your qualifying contributions in 2013 by the total of the distributions you and your spouse received in 2011, 2012, 2013, and 2014. Form 1040ez 2012 Maximum eligible contributions. Form 1040ez 2012 After your contributions are reduced, the maximum annual contribution on which you can base the credit is $2,000 per person. Form 1040ez 2012 Effect on other credits. Form 1040ez 2012 The amount of this credit will not change the amount of your refundable tax credits. Form 1040ez 2012 A refundable tax credit, such as the earned income credit or the additional child tax credit, is an amount that you would receive as a refund even if you did not otherwise owe any taxes. Form 1040ez 2012 Maximum credit. Form 1040ez 2012 This is a nonrefundable credit. Form 1040ez 2012 The amount of the credit in any year cannot be more than the amount of tax that you would otherwise pay (not counting any refundable credits or the adoption credit) in any year. Form 1040ez 2012 If your tax liability is reduced to zero because of other nonrefundable credits, such as the education credits, then you will not be entitled to this credit. Form 1040ez 2012 How to figure and report the credit. Form 1040ez 2012 The amount of the credit you can get is based on the contributions you make and your credit rate. Form 1040ez 2012 The credit rate can be as low as 10% or as high as 50%. Form 1040ez 2012 Your credit rate depends on your income and your filing status. Form 1040ez 2012 See Form 8880, Credit for Qualified Retirement Savings Contributions, to determine your credit rate. Form 1040ez 2012 The maximum contribution taken into account is $2,000 per person. Form 1040ez 2012 On a joint return, up to $2,000 is taken into account for each spouse. Form 1040ez 2012 Figure the credit on Form 8880. Form 1040ez 2012 Report the credit on line 50 of your Form 1040 or line 32 of your Form 1040A, and attach Form 8880 to your return. Form 1040ez 2012 Prev Up Next Home More Online Publications
IRS Advisory Committees General Information
The Advisory Committee on Tax Exempt and Government Entities (ACT) is an organized public forum for discussion of relevant employee plans, exempt organizations, tax-exempt bonds, and federal, state, local and Indian tribal government issues. The ACT also enables the IRS to receive regular input on the development and implementation of IRS policy concerning these communities. ACT members present interested public's observations about current or proposed IRS policies, programs and procedures as well as suggest improvements through a yearly final report.
The Art Advisory Panel assists IRS by reviewing and evaluating property appraisals submitted by taxpayers in support of the fair market value claimed in works of art involved in federal income, estate and gift tax cases in accordance with the Internal Revenue Code. The panel consists of 25 renowned art experts who serve without compensation.
The Electronic Tax Administration Advisory Committee (ETAAC) provides an organized public forum for discussion of electronic tax administration issues in support of the overriding goal that paperless filing should be the preferred and most convenient method of filing tax and information returns. ETAAC members convey the public’s perception of the IRS electronic tax administration activities, offer constructive observations about current or proposed policies, programs, and procedures, and suggest improvements. Read past reports.
The Information Reporting Program Advisory Committee (IRPAC) advises the IRS on information reporting issues of mutual concern to the private sector and the federal government. The committee works with the Commissioner and other IRS executives to provide recommendations on a wide range of information reporting administration issues. Membership is balanced to include representation from the taxpaying public, the tax professional community, and small and large businesses, state tax administration, and the payroll community. Read past reports and comment letters.
The Internal Revenue Service Advisory Council (IRSAC) provides an organized public forum for IRS officials and representatives of the public to discuss relevant tax administration issues. The Council advises the IRS on issues that have a substantive effect on federal tax administration. As a body designed to focus on broad policy matters, the IRSAC reviews existing tax policy and/or recommends policies with respect to emerging tax administration issues. The IRSAC suggests operational improvements, offers constructive observations about IRS’ current or proposed policies, programs, and procedures and advises the IRS on particular issues having substantive effect on federal tax administration. Find out what IRSAC is doing now and read past reports.
The Taxpayer Advocacy Panel (TAP) is a group of 75 citizen volunteers who listen to taxpayers, identify taxpayers’ issues, and make suggestions for improving IRS service and customer satisfaction. The Panel is demographically and geographically diverse with taxpayers from all walks of life representing each state, the District of Columbia and Puerto Rico. In 2014, the TAP will also have at least one member living abroad to represent international taxpayers.
Page Last Reviewed or Updated: 28-Feb-2014
The Form 1040ez 2012
Form 1040ez 2012 Publication 544 - Additional Material Table of Contents Tax Publications for Business TaxpayersSee How To Get Tax Help for a variety of ways to get publications, including by computer, phone, and mail. Form 1040ez 2012 General Guides 1 Your Rights as a Taxpayer 17 Your Federal Income Tax (For Individuals) 334 Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) 509 Tax Calendars 910 IRS Guide to Free Tax Services Employer's Guides 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 51 (Circular A), Agricultural Employer's Tax Guide 80 (Circular SS), Federal Tax Guide For Employers in the U. Form 1040ez 2012 S. Form 1040ez 2012 Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands 926 Household Employer's Tax Guide Specialized Publications 225 Farmer's Tax Guide 463 Travel, Entertainment, Gift, and Car Expenses 505 Tax Withholding and Estimated Tax 510 Excise Taxes (Including Fuel Tax Credits and Refunds) 515 Withholding of Tax on Nonresident Aliens and Foreign Entities 517 Social Security and Other Information for Members of the Clergy and Religious Workers 527 Residential Rental Property 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts 537 Installment Sales 538 Accounting Periods and Methods 541 Partnerships 542 Corporations 544 Sales and Other Dispositions of Assets 551 Basis of Assets 556 Examination of Returns, Appeal Rights, and Claims for Refund 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) 561 Determining the Value of Donated Property 583 Starting a Business and Keeping Records 587 Business Use of Your Home (Including Use by Daycare Providers) 594 What You Should Know About The IRS Collection Process 595 Capital Construction Fund for Commercial Fishermen 597 Information on the United States-Canada Income Tax Treaty 598 Tax on Unrelated Business Income of Exempt Organizations 686 Certification for Reduced Tax Rates in Tax Treaty Countries 901 U. Form 1040ez 2012 S. Form 1040ez 2012 Tax Treaties 908 Bankruptcy Tax Guide 925 Passive Activity and At-Risk Rules 946 How To Depreciate Property 947 Practice Before the IRS and Power of Attorney 1544 Reporting Cash Payments of Over $10,000 (Received in a Trade or Business) 1546 Taxpayer Advocate Service - Your Voice at the IRS Spanish Language Publications 1SP Derechos del Contribuyente 179 (Circular PR), Guía Contributiva Federal Para Patronos Puertorriqueños 579SP Cómo Preparar la Declaración de Impuesto Federal 594SP Qué es lo Debemos Saber Sobre El Proceso de Cobro del IRS 850 English-Spanish Glossary of Words and Phrases Used in Publications Issued by the Internal Revenue Service 1544SP Informe de Pagos en Efectivo en Exceso de $10,000 (Recibidos en una Ocupación o Negocio) Commonly Used Tax FormsSee How To Get Tax Help for a variety of ways to get forms, including by computer, phone, and mail. Form 1040ez 2012 Form Number and Form Title W-2 Wage and Tax Statement W-4 Employee's Withholding Allowance Certificate 940 Employer's Annual Federal Unemployment (FUTA) Tax Return 941 Employer's QUARTERLY Federal Tax Return 944 Employer's ANNUAL Federal Tax Return 1040 U. Form 1040ez 2012 S. Form 1040ez 2012 Individual Income Tax Return Sch. Form 1040ez 2012 A & B Itemized Deductions & Interest and Ordinary Dividends Sch. Form 1040ez 2012 C Profit or Loss From Business Sch. Form 1040ez 2012 C-EZ Net Profit From Business Sch. Form 1040ez 2012 D Capital Gains and Losses Sch. Form 1040ez 2012 E Supplemental Income and Loss Sch. Form 1040ez 2012 F Profit or Loss From Farming Sch. Form 1040ez 2012 H Household Employment Taxes Sch. Form 1040ez 2012 J Income Averaging for Farmers and Fishermen Sch. Form 1040ez 2012 R Credit for the Elderly or the Disabled Sch. Form 1040ez 2012 SE Self-Employment Tax 1040-ES Estimated Tax for Individuals 1040X Amended U. Form 1040ez 2012 S. Form 1040ez 2012 Individual Income Tax Return 1065 U. Form 1040ez 2012 S. Form 1040ez 2012 Return of Partnership Income Sch. Form 1040ez 2012 D Capital Gains and Losses Sch. Form 1040ez 2012 K-1 Partner's Share of Income, Deductions, Credits, etc. Form 1040ez 2012 1120 U. Form 1040ez 2012 S. Form 1040ez 2012 Corporation Income Tax Return Sch. Form 1040ez 2012 D Capital Gains and Losses 1120S U. Form 1040ez 2012 S. Form 1040ez 2012 Income Tax Return for an S Corporation Sch. Form 1040ez 2012 D Capital Gains and Losses and Built-In Gains Sch. Form 1040ez 2012 K-1 Shareholder's Share of Income, Deductions, Credits, etc. Form 1040ez 2012 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2441 Child and Dependent Care Expenses 2848 Power of Attorney and Declaration of Representative 3800 General Business Credit 3903 Moving Expenses 4562 Depreciation and Amortization 4797 Sales of Business Property 4868 Application for Automatic Extension of Time To File U. Form 1040ez 2012 S. Form 1040ez 2012 Individual Income Tax Return 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 6252 Installment Sale Income 7004 Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns 8283 Noncash Charitable Contributions 8300 Report of Cash Payments Over $10,000 Received in a Trade or Business 8582 Passive Activity Loss Limitations 8606 Nondeductible IRAs 8822 Change of Address 8829 Expenses for Business Use of Your Home 8949 Sales and Other Dispositions of Capital Assets Prev Up Next Home More Online Publications