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How To File A Amended Tax Return

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How To File A Amended Tax Return

How to file a amended tax return Publication 939 - Main Content Table of Contents General Information Taxation of Periodic PaymentsInvestment in the Contract Expected Return Computation Under the General Rule How To Use Actuarial TablesUnisex Annuity Tables Special Elections Worksheets for Determining Taxable Annuity Actuarial Tables Requesting a Ruling on Taxation of Annuity How To Get Tax HelpLow Income Taxpayer Clinics General Information Some of the terms used in this publication are defined in the following paragraphs. How to file a amended tax return A pension is generally a series of payments made to you after you retire from work. How to file a amended tax return Pension payments are made regularly and are for past services with an employer. How to file a amended tax return An annuity is a series of payments under a contract. How to file a amended tax return You can buy the contract alone or you can buy it with the help of your employer. How to file a amended tax return Annuity payments are made regularly for more than one full year. How to file a amended tax return Note. How to file a amended tax return Distributions from pensions and annuities follow the same rules as outlined in this publication unless otherwise noted. How to file a amended tax return Types of pensions and annuities. How to file a amended tax return   Particular types of pensions and annuities include: Fixed period annuities. How to file a amended tax return You receive definite amounts at regular intervals for a definite length of time. How to file a amended tax return Annuities for a single life. How to file a amended tax return You receive definite amounts at regular intervals for life. How to file a amended tax return The payments end at death. How to file a amended tax return Joint and survivor annuities. How to file a amended tax return The first annuitant receives a definite amount at regular intervals for life. How to file a amended tax return After he or she dies, a second annuitant receives a definite amount at regular intervals for life. How to file a amended tax return The amount paid to the second annuitant may or may not differ from the amount paid to the first annuitant. How to file a amended tax return Variable annuities. How to file a amended tax return You receive payments that may vary in amount for a definite length of time or for life. How to file a amended tax return The amounts you receive may depend upon such variables as profits earned by the pension or annuity funds or cost-of-living indexes. How to file a amended tax return Disability pensions. How to file a amended tax return You are under minimum retirement age and receive payments because you retired on disability. How to file a amended tax return If, at the time of your retirement, you were permanently and totally disabled, you may be eligible for the credit for the elderly or the disabled discussed in Publication 524. How to file a amended tax return If your annuity starting date is after November 18, 1996, the General Rule cannot be used for the following qualified plans. How to file a amended tax return A qualified employee plan is an employer's stock bonus, pension, or profit-sharing plan that is for the exclusive benefit of employees or their beneficiaries. How to file a amended tax return This plan must meet Internal Revenue Code requirements. How to file a amended tax return It qualifies for special tax benefits, including tax deferral for employer contributions and rollover distributions. How to file a amended tax return However, you must use the General Rule if you were 75 or over and the annuity payments are guaranteed for more than 5 years. How to file a amended tax return A qualified employee annuity is a retirement annuity purchased by an employer for an employee under a plan that meets Internal Revenue Code requirements. How to file a amended tax return A tax-sheltered annuity is a special annuity plan or contract purchased for an employee of a public school or tax-exempt organization. How to file a amended tax return   The General Rule is used to figure the tax treatment of various types of pensions and annuities, including nonqualified employee plans. How to file a amended tax return A nonqualified employee plan is an employer's plan that does not meet Internal Revenue Code requirements. How to file a amended tax return It does not qualify for most of the tax benefits of a qualified plan. How to file a amended tax return Annuity worksheets. How to file a amended tax return   The worksheets found near the end of the text of this publication may be useful to you in figuring the taxable part of your annuity. How to file a amended tax return Request for a ruling. How to file a amended tax return   If you are unable to determine the income tax treatment of your pension or annuity, you may ask the Internal Revenue Service to figure the taxable part of your annuity payments. How to file a amended tax return This is treated as a request for a ruling. How to file a amended tax return See Requesting a Ruling on Taxation of Annuity near the end of this publication. How to file a amended tax return Withholding tax and estimated tax. How to file a amended tax return   Your pension or annuity is subject to federal income tax withholding unless you choose not to have tax withheld. How to file a amended tax return If you choose not to have tax withheld from your pension or annuity, or if you do not have enough income tax withheld, you may have to make estimated tax payments. How to file a amended tax return Taxation of Periodic Payments This section explains how the periodic payments you receive under a pension or annuity plan are taxed under the General Rule. How to file a amended tax return Periodic payments are amounts paid at regular intervals (such as weekly, monthly, or yearly) for a period of time greater than one year (such as for 15 years or for life). How to file a amended tax return These payments are also known as amounts received as an annuity. How to file a amended tax return If you receive an amount from your plan that is a nonperiodic payment (amount not received as an annuity), see Taxation of Nonperiodic Payments in Publication 575. How to file a amended tax return In general, you can recover your net cost of the pension or annuity tax free over the period you are to receive the payments. How to file a amended tax return The amount of each payment that is more than the part that represents your net cost is taxable. How to file a amended tax return Under the General Rule, the part of each annuity payment that represents your net cost is in the same proportion that your investment in the contract is to your expected return. How to file a amended tax return These terms are explained in the following discussions. How to file a amended tax return Investment in the Contract In figuring how much of your pension or annuity is taxable under the General Rule, you must figure your investment in the contract. How to file a amended tax return First, find your net cost of the contract as of the annuity starting date (defined later). How to file a amended tax return To find this amount, you must first figure the total premiums, contributions, or other amounts paid. How to file a amended tax return This includes the amounts your employer contributed if you were required to include these amounts in income. How to file a amended tax return It also includes amounts you actually contributed (except amounts for health and accident benefits and deductible voluntary employee contributions). How to file a amended tax return From this total cost you subtract: Any refunded premiums, rebates, dividends, or unrepaid loans (any of which were not included in your income) that you received by the later of the annuity starting date or the date on which you received your first payment. How to file a amended tax return Any additional premiums paid for double indemnity or disability benefits. How to file a amended tax return Any other tax-free amounts you received under the contract or plan before the later of the dates in (1). How to file a amended tax return The annuity starting date   is the later of the first day of the first period for which you receive payment under the contract or the date on which the obligation under the contract becomes fixed. How to file a amended tax return Example. How to file a amended tax return On January 1 you completed all your payments required under an annuity contract providing for monthly payments starting on August 1, for the period beginning July 1. How to file a amended tax return The annuity starting date is July 1. How to file a amended tax return This is the date you use in figuring your investment in the contract and your expected return (discussed later). How to file a amended tax return Adjustments If any of the following items apply, adjust (add or subtract) your total cost to find your net cost. How to file a amended tax return Foreign employment. How to file a amended tax return   If you worked abroad, your cost may include contributions by your employer to the retirement plan, but only if those contributions would be excludible from your gross income had they been paid directly to you as compensation. How to file a amended tax return The contributions that apply are: Contributions before 1963 by your employer, Contributions after 1962 by your employer if the contributions would be excludible from your gross income (without regard to the foreign earned income exclusion) had they been paid directly to you, or Contributions after 1996 by your employer on your behalf if you performed the services of a foreign missionary (a duly ordained, commissioned, or licensed minister of a church or a lay person) if the contributions would be excludible from your gross income had they been paid directly to you. How to file a amended tax return Foreign employment contributions while a nonresident alien. How to file a amended tax return   In determining your cost, special rules apply if you are a U. How to file a amended tax return S. How to file a amended tax return citizen or resident alien who received distributions from a plan to which contributions were made while you were a nonresident alien. How to file a amended tax return Your contributions and your employer's contributions are not included in your cost if the contributions: Were made based on compensation which was for services performed outside the United States which you were a nonresident alien, and Were not subject to income tax under the laws of the United States or any foreign country, but only if the contribution would have been subject to income tax if they had been paid as cash compensation when the services were performed. How to file a amended tax return Death benefit exclusion. How to file a amended tax return   If you are the beneficiary of a deceased employee (or former employee), who died before August 21, 1996, you may qualify for a death benefit exclusion of up to $5,000. How to file a amended tax return The beneficiary of a deceased employee who died after August 20, 1996, will not qualify for the death benefit exclusion. How to file a amended tax return How to adjust your total cost. How to file a amended tax return   If you are eligible, treat the amount of any allowable death benefit exclusion as additional cost paid by the employee. How to file a amended tax return Add it to the cost or unrecovered cost of the annuity at the annuity starting date. How to file a amended tax return See Example 3 under Computation Under General Rule for an illustration of the adjustment to the cost of the contract. How to file a amended tax return Net cost. How to file a amended tax return   Your total cost plus certain adjustments and minus other amounts already recovered before the annuity starting date is your net cost. How to file a amended tax return This is the unrecovered investment in the contract as of the annuity starting date. How to file a amended tax return If your annuity starting date is after 1986, this is the maximum amount that you may recover tax free under the contract. How to file a amended tax return Refund feature. How to file a amended tax return   Adjustment for the value of the refund feature is only applicable when you report your pension or annuity under the General Rule. How to file a amended tax return Your annuity contract has a refund feature if: The expected return ( discussed later) of an annuity depends entirely or partly on the life of one or more individuals, The contract provides that payments will be made to a beneficiary or the estate of an annuitant on or after the death of the annuitant if a stated amount or a stated number of payments has not been paid to the annuitant or annuitants before death, and The payments are a refund of the amount you paid for the annuity contract. How to file a amended tax return   If your annuity has a refund feature, you must reduce your net cost of the contract by the value of the refund feature (figured using Table III or VII at the end of this publication, also see How To Use Actuarial Tables , later) to find the investment in the contract. How to file a amended tax return Zero value of refund feature. How to file a amended tax return   For a joint and survivor annuity, the value of the refund feature is zero if: Both annuitants are age 74 or younger, The payments are guaranteed for less than 2½ years, and The survivor's annuity is at least 50% of the first annuitant's annuity. How to file a amended tax return   For a single-life annuity without survivor benefit, the value of the refund feature is zero if: The payments are guaranteed for less than 2½ years, and The annuitant is: Age 57 or younger (if using the new (unisex) annuity tables), Age 42 or younger (if male and using the old annuity tables), or Age 47 or younger (if female and using the old annuity tables). How to file a amended tax return   If you do not meet these requirements, you will have to figure the value of the refund feature, as explained in the following discussion. How to file a amended tax return Examples. How to file a amended tax return The first example shows how to figure the value of the refund feature when there is only one beneficiary. How to file a amended tax return Example 2 shows how to figure the value of the refund feature when the contract provides, in addition to a whole life annuity, one or more temporary life annuities for the lives of children. How to file a amended tax return In both examples, the taxpayer elects to use Tables V through VIII. How to file a amended tax return If you need the value of the refund feature for a joint and survivor annuity, write to the Internal Revenue Service as explained under Requesting a Ruling on Taxation of Annuity near the end of this publication. How to file a amended tax return Example 1. How to file a amended tax return At age 65, Barbara bought for $21,053 an annuity with a refund feature. How to file a amended tax return She will get $100 a month for life. How to file a amended tax return Barbara's contract provides that if she does not live long enough to recover the full $21,053, similar payments will be made to her surviving beneficiary until a total of $21,053 has been paid under the contract. How to file a amended tax return In this case, the contract cost and the total guaranteed return are the same ($21,053). How to file a amended tax return Barbara's investment in the contract is figured as follows: Net cost $21,053 Amount to be received annually $1,200   Number of years for which payment is guaranteed ($21,053 divided by $1,200) 17. How to file a amended tax return 54   Rounded to nearest whole number of years 18   Percentage from Actuarial Table VII for age 65 with 18 years of guaranteed payments 15%   Value of the refund feature (rounded to the nearest dollar)—15% of $21,053 3,158 Investment in the contract, adjusted for value of refund feature $17,895       If the total guaranteed return were less than the $21,053 net cost of the contract, Barbara would apply the appropriate percentage from the tables to the lesser amount. How to file a amended tax return For example, if the contract guaranteed the $100 monthly payments for 17 years to Barbara's estate or beneficiary if she were to die before receiving all the payments for that period, the total guaranteed return would be $20,400 ($100 × 12 × 17 years). How to file a amended tax return In this case, the value of the refund feature would be $2,856 (14% of $20,400) and Barbara's investment in the contract would be $18,197 ($21,053 minus $2,856) instead of $17,895. How to file a amended tax return Example 2. How to file a amended tax return John died while still employed. How to file a amended tax return His widow, Eleanor, age 48, receives $171 a month for the rest of her life. How to file a amended tax return John's son, Elmer, age 9, receives $50 a month until he reaches age 18. How to file a amended tax return John's contributions to the retirement fund totaled $7,559. How to file a amended tax return 45, with interest on those contributions of $1,602. How to file a amended tax return 53. How to file a amended tax return The guarantee or total refund feature of the contract is $9,161. How to file a amended tax return 98 ($7,559. How to file a amended tax return 45 plus $1,602. How to file a amended tax return 53). How to file a amended tax return The adjustment in the investment in the contract is figured as follows: A) Expected return:*       1) Widow's expected return:         Annual annuity ($171 × 12) $2,052       Multiplied by factor from Table V         (nearest age 48) 34. How to file a amended tax return 9 $71,614. How to file a amended tax return 80   2) Child's expected return:         Annual annuity ($50 × 12) $600       Multiplied by factor from         Table VIII (nearest age 9         for term of 9 years) 9. How to file a amended tax return 0 5,400. How to file a amended tax return 00   3) Total expected return   $77,014. How to file a amended tax return 80 B) Adjustment for refund feature:       1) Contributions (net cost) $7,559. How to file a amended tax return 45   2) Guaranteed amount (contributions of $7,559. How to file a amended tax return 45 plus interest of $1,602. How to file a amended tax return 53) $9,161. How to file a amended tax return 98   3) Minus: Expected return under child's (temporary life) annuity (A(2)) 5,400. How to file a amended tax return 00   4) Net guaranteed amount $3,761. How to file a amended tax return 98   5) Multiple from Table VII (nearest age 48 for 2 years duration (recovery of $3,761. How to file a amended tax return 98 at $171 a month to nearest whole year)) 0%   6) Adjustment required for value of refund feature rounded to the nearest whole dollar  (0% × $3,761. How to file a amended tax return 98, the smaller of B(3) or B(6)) 0 *Expected return is the total amount you and other eligible annuitants can expect to receive under the contract. How to file a amended tax return See the discussion of expected return, later in this publication. How to file a amended tax return Free IRS help. How to file a amended tax return   If you need to request assistance to figure the value of the refund feature, see Requesting a Ruling on Taxation of Annuity near the end of this publication. How to file a amended tax return Expected Return Your expected return is the total amount you and other eligible annuitants can expect to receive under the contract. How to file a amended tax return The following discussions explain how to figure the expected return with each type of annuity. How to file a amended tax return A person's age, for purposes of figuring the expected return, is the age at the birthday nearest to the annuity starting date. How to file a amended tax return Fixed period annuity. How to file a amended tax return   If you will get annuity payments for a fixed number of years, without regard to your life expectancy, you must figure your expected return based on that fixed number of years. How to file a amended tax return It is the total amount you will get beginning at the annuity starting date. How to file a amended tax return You will receive specific periodic payments for a definite period of time, such as a fixed number of months (but not less than 13). How to file a amended tax return To figure your expected return, multiply the fixed number of months for which payments are to be made by the amount of the payment specified for each period. How to file a amended tax return Single life annuity. How to file a amended tax return   If you are to get annuity payments for the rest of your life, find your expected return as follows. How to file a amended tax return You must multiply the amount of the annual payment by a multiple based on your life expectancy as of the annuity starting date. How to file a amended tax return These multiples are set out in actuarial Tables I and V near the end of this publication (see How To Use Actuarial Tables , later). How to file a amended tax return   You may need to adjust these multiples if the payments are made quarterly, semiannually, or annually. How to file a amended tax return See Adjustments to Tables I, II, V, VI, and VIA following Table I. How to file a amended tax return Example. How to file a amended tax return Henry bought an annuity contract that will give him an annuity of $500 a month for his life. How to file a amended tax return If at the annuity starting date Henry's nearest birthday is 66, the expected return is figured as follows: Annual payment ($500 × 12 months) $6,000 Multiple shown in Table V, age 66 × 19. How to file a amended tax return 2 Expected return $115,200 If the payments were to be made to Henry quarterly and the first payment was made one full month after the annuity starting date, Henry would adjust the 19. How to file a amended tax return 2 multiple by +. How to file a amended tax return 1. How to file a amended tax return His expected return would then be $115,800 ($6,000 × 19. How to file a amended tax return 3). How to file a amended tax return Annuity for shorter of life or specified period. How to file a amended tax return   With this type of annuity, you are to get annuity payments either for the rest of your life or until the end of a specified period, whichever period is shorter. How to file a amended tax return To figure your expected return, multiply the amount of your annual payment by a multiple in Table IV or VIII for temporary life annuities. How to file a amended tax return Find the proper multiple based on your sex (if using Table IV), your age at the annuity starting date, and the nearest whole number of years in the specified period. How to file a amended tax return Example. How to file a amended tax return Harriet purchased an annuity this year that will pay her $200 each month for five years or until she dies, whichever period is shorter. How to file a amended tax return She was age 65 at her birthday nearest the annuity starting date. How to file a amended tax return She figures the expected return as follows: Annual payment ($200 × 12 months) $2,400 Multiple shown in Table VIII, age 65, 5-year term × 4. How to file a amended tax return 9 Expected return $11,760 She uses Table VIII (not Table IV) because all her contributions were made after June 30, 1986. How to file a amended tax return See Special Elections, later. How to file a amended tax return Joint and survivor annuities. How to file a amended tax return   If you have an annuity that pays you a periodic income for life and after your death provides an identical lifetime periodic income to your spouse (or some other person), you figure the expected return based on your combined life expectancies. How to file a amended tax return To figure the expected return, multiply the annual payment by a multiple in Table II or VI based on your joint life expectancies. How to file a amended tax return If your payments are made quarterly, semiannually, or annually, you may need to adjust these multiples. How to file a amended tax return See Adjustments to Tables I, II, V, VI, and VIA following Table I near the end of this publication. How to file a amended tax return Example. How to file a amended tax return John bought a joint and survivor annuity providing payments of $500 a month for his life, and, after his death, $500 a month for the remainder of his wife's life. How to file a amended tax return At John's annuity starting date, his age at his nearest birthday is 70 and his wife's at her nearest birthday is 67. How to file a amended tax return The expected return is figured as follows: Annual payment ($500 × 12 months) $6,000 Multiple shown in Table VI, ages 67 and 70 × 22. How to file a amended tax return 0 Expected return $132,000 Different payments to survivor. How to file a amended tax return   If your contract provides that payments to a survivor annuitant will be different from the amount you receive, you must use a computation which accounts for both the joint lives of the annuitants and the life of the survivor. How to file a amended tax return Example 1. How to file a amended tax return Gerald bought a contract providing for payments to him of $500 a month for life and, after his death, payments to his wife, Mary, of $350 a month for life. How to file a amended tax return If, at the annuity starting date, Gerald's nearest birthday is 70 and Mary's is 67, the expected return under the contract is figured as follows: Combined multiple for Gerald and Mary, ages 70 and 67 (from Table VI)   22. How to file a amended tax return 0 Multiple for Gerald, age 70 (from Table V)   16. How to file a amended tax return 0 Difference: Multiple applicable to Mary   6. How to file a amended tax return 0 Gerald's annual payment ($500 × 12) $6,000   Gerald's multiple 16. How to file a amended tax return 0   Gerald's expected return   $96,000 Mary's annual payment ($350 × 12) $4,200   Mary's multiple 6. How to file a amended tax return 0   Mary's expected return   25,200 Total expected return under the contract   $121,200 Example 2. How to file a amended tax return Your husband died while still employed. How to file a amended tax return Under the terms of his employer's retirement plan, you are entitled to get an immediate annuity of $400 a month for the rest of your life or until you remarry. How to file a amended tax return Your daughters, Marie and Jean, are each entitled to immediate temporary life annuities of $150 a month until they reach age 18. How to file a amended tax return You were 50 years old at the annuity starting date. How to file a amended tax return Marie was 16 and Jean was 14. How to file a amended tax return Using the multiples shown in Tables V and VIII at the end of this publication, the total expected return on the annuity starting date is $169,680, figured as follows: Widow, age 50 (multiple from Table V—33. How to file a amended tax return 1 × $4,800 annual payment) $158,880 Marie, age 16 for 2 years duration (multiple from Table VIII—2. How to file a amended tax return 0 × $1,800 annual payment) 3,600 Jean, age 14 for 4 years duration (multiple from Table VIII—4. How to file a amended tax return 0 × $1,800 annual payment) 7,200 Total expected return $169,680 No computation of expected return is made based on your husband's age at the date of death because he died before the annuity starting date. How to file a amended tax return Computation Under the General Rule Note. How to file a amended tax return Variable annuities use a different computation for determining the exclusion amounts. How to file a amended tax return See Variable annuities later. How to file a amended tax return Under the General Rule, you figure the taxable part of your annuity by using the following steps: Step 1. How to file a amended tax return   Figure the amount of your investment in the contract, including any adjustments for the refund feature and the death benefit exclusion, if applicable. How to file a amended tax return See Death benefit exclusion , earlier. How to file a amended tax return Step 2. How to file a amended tax return   Figure your expected return. How to file a amended tax return Step 3. How to file a amended tax return   Divide Step 1 by Step 2 and round to three decimal places. How to file a amended tax return This will give you the exclusion percentage. How to file a amended tax return Step 4. How to file a amended tax return   Multiply the exclusion percentage by the first regular periodic payment. How to file a amended tax return The result is the tax-free part of each pension or annuity payment. How to file a amended tax return   The tax-free part remains the same even if the total payment increases due to variation in the annuity amount such as cost of living increases, or you outlive the life expectancy factor used. How to file a amended tax return However, if your annuity starting date is after 1986, the total amount of annuity income that is tax free over the years cannot exceed your net cost. How to file a amended tax return   Each annuitant applies the same exclusion percentage to his or her initial payment called for in the contract. How to file a amended tax return Step 5. How to file a amended tax return   Multiply the tax-free part of each payment (step 4) by the number of payments received during the year. How to file a amended tax return This will give you the tax-free part of the total payment for the year. How to file a amended tax return    In the first year of your annuity, your first payment or part of your first payment may be for a fraction of the payment period. How to file a amended tax return This fractional amount is multiplied by your exclusion percentage to get the tax-free part. How to file a amended tax return Step 6. How to file a amended tax return   Subtract the tax-free part from the total payment you received. How to file a amended tax return The rest is the taxable part of your pension or annuity. How to file a amended tax return Example 1. How to file a amended tax return You purchased an annuity with an investment in the contract of $10,800. How to file a amended tax return Under its terms, the annuity will pay you $100 a month for life. How to file a amended tax return The multiple for your age (age 65) is 20. How to file a amended tax return 0 as shown in Table V. How to file a amended tax return Your expected return is $24,000 (20 × 12 × $100). How to file a amended tax return Your cost of $10,800, divided by your expected return of $24,000, equals 45. How to file a amended tax return 0%. How to file a amended tax return This is the percentage you will not have to include in income. How to file a amended tax return Each year, until your net cost is recovered, $540 (45% of $1,200) will be tax free and you will include $660 ($1,200 − $540) in your income. How to file a amended tax return If you had received only six payments of $100 ($600) during the year, your exclusion would have been $270 (45% of $100 × 6 payments). How to file a amended tax return Example 2. How to file a amended tax return Gerald bought a joint and survivor annuity. How to file a amended tax return Gerald's investment in the contract is $62,712 and the expected return is $121,200. How to file a amended tax return The exclusion percentage is 51. How to file a amended tax return 7% ($62,712 ÷ $121,200). How to file a amended tax return Gerald will receive $500 a month ($6,000 a year). How to file a amended tax return Each year, until his net cost is recovered, $3,102 (51. How to file a amended tax return 7% of his total payments received of $6,000) will be tax free and $2,898 ($6,000 − $3,102) will be included in his income. How to file a amended tax return If Gerald dies, his wife will receive $350 a month ($4,200 a year). How to file a amended tax return If Gerald had not recovered all of his net cost before his death, his wife will use the same exclusion percentage (51. How to file a amended tax return 7%). How to file a amended tax return Each year, until the entire net cost is recovered, his wife will receive $2,171. How to file a amended tax return 40 (51. How to file a amended tax return 7% of her payments received of $4,200) tax free. How to file a amended tax return She will include $2,028. How to file a amended tax return 60 ($4,200 − $2,171. How to file a amended tax return 40) in her income tax return. How to file a amended tax return Example 3. How to file a amended tax return Using the same facts as Example 2 under Different payments to survivor, you are to receive an annual annuity of $4,800 until you die or remarry. How to file a amended tax return Your two daughters each receive annual annuities of $1,800 until they reach age 18. How to file a amended tax return Your husband contributed $25,576 to the plan. How to file a amended tax return You are eligible for the $5,000 death benefit exclusion because your husband died before August 21, 1996. How to file a amended tax return Adjusted Investment in the Contract Contributions $25,576 Plus: Death benefit exclusion 5,000 Adjusted investment in the contract $30,576 The total expected return, as previously figured (in Example 2 under Different payments to survivor), is $169,680. How to file a amended tax return The exclusion percentage of 18. How to file a amended tax return 0% ($30,576 ÷ $169,680) applies to the annuity payments you and each of your daughters receive. How to file a amended tax return Each full year $864 (18. How to file a amended tax return 0% × $4,800) will be tax free to you, and you must include $3,936 in your income tax return. How to file a amended tax return Each year, until age 18, $324 (18. How to file a amended tax return 0% × $1,800) of each of your daughters' payments will be tax free and each must include the balance, $1,476, as income on her own income tax return. How to file a amended tax return Part-year payments. How to file a amended tax return   If you receive payments for only part of a year, apply the exclusion percentage to the first regular periodic payment, and multiply the result by the number of payments received during the year. How to file a amended tax return   If you receive amounts during the year that represent 12 payments, one for each month in that year, and an amount that represents payments for months in a prior year, apply the exclusion percentage to the first regular periodic payment, and multiply the result by the number of payments the amounts received represent. How to file a amended tax return For instance, if you received amounts during the year that represent the 12 payments for that year plus an amount that represents three payments for a prior year, multiply that amount by the 15 (12 + 3) payments received that the year. How to file a amended tax return   If you received a fractional payment, follow Step 5, discussed earlier. How to file a amended tax return This gives you the tax-free part of your total payment. How to file a amended tax return Example. How to file a amended tax return On September 28, Mary bought an annuity contract for $22,050 that will give her $125 a month for life, beginning October 30. How to file a amended tax return The applicable multiple from Table V is 23. How to file a amended tax return 3 (age 61). How to file a amended tax return Her expected return is $34,950 ($125 × 12 × 23. How to file a amended tax return 3). How to file a amended tax return Mary's investment in the contract of $22,050, divided by her expected return of $34,950, equals 63. How to file a amended tax return 1%. How to file a amended tax return Each payment received will consist of 63. How to file a amended tax return 1% return of cost and 36. How to file a amended tax return 9% taxable income, until her net cost of the contract is fully recovered. How to file a amended tax return During the first year, Mary received three payments of $125, or $375, of which $236. How to file a amended tax return 63 (63. How to file a amended tax return 1% × $375) is a return of cost. How to file a amended tax return The remaining $138. How to file a amended tax return 37 is included in income. How to file a amended tax return Increase in annuity payments. How to file a amended tax return   The tax-free amount remains the same as the amount figured at the annuity starting date, even if the payment increases. How to file a amended tax return All increases in the installment payments are fully taxable. How to file a amended tax return   However, if your annuity payments are scheduled to increase at a definite date in the future you must figure the expected return for that annuity using the method described in section 1. How to file a amended tax return 72-5(a)(5) of the regulations. How to file a amended tax return Example. How to file a amended tax return Joe's wife died while she was still employed and, as her beneficiary, he began receiving an annuity of $147 per month. How to file a amended tax return In figuring the taxable part, Joe elects to use Tables V through VIII. How to file a amended tax return The cost of the contract was $7,938, consisting of the sum of his wife's net contributions, adjusted for any refund feature. How to file a amended tax return His expected return as of the annuity starting date is $35,280 (age 65, multiple of 20. How to file a amended tax return 0 × $1,764 annual payment). How to file a amended tax return The exclusion percentage is $7,938 ÷ $35,280, or 22. How to file a amended tax return 5%. How to file a amended tax return During the year he received 11 monthly payments of $147, or $1,617. How to file a amended tax return Of this amount, 22. How to file a amended tax return 5% × $147 × 11 ($363. How to file a amended tax return 83) is tax free as a return of cost and the balance of $1,253. How to file a amended tax return 17 is taxable. How to file a amended tax return Later, because of a cost-of-living increase, his annuity payment was increased to $166 per month, or $1,992 a year (12 × $166). How to file a amended tax return The tax-free part is still only 22. How to file a amended tax return 5% of the annuity payments as of the annuity starting date (22. How to file a amended tax return 5% × $147 × 12 = $396. How to file a amended tax return 90 for a full year). How to file a amended tax return The increase of $228 ($1,992 − $1,764 (12 × $147)) is fully taxable. How to file a amended tax return Variable annuities. How to file a amended tax return   For variable annuity payments, figure the amount of each payment that is tax free by dividing your investment in the contract (adjusted for any refund feature) by the total number of periodic payments you expect to get under the contract. How to file a amended tax return   If the annuity is for a definite period, you determine the total number of payments by multiplying the number of payments to be made each year by the number of years you will receive payments. How to file a amended tax return If the annuity is for life, you determine the total number of payments by using a multiple from the appropriate actuarial table. How to file a amended tax return Example. How to file a amended tax return Frank purchased a variable annuity at age 65. How to file a amended tax return The total cost of the contract was $12,000. How to file a amended tax return The annuity starting date is January 1 of the year of purchase. How to file a amended tax return His annuity will be paid, starting July 1, in variable annual installments for his life. How to file a amended tax return The tax-free amount of each payment, until he has recovered his cost of his contract, is: Investment in the contract $12,000 Number of expected annual payments (multiple for age 65 from Table V) 20 Tax-free amount of each payment ($12,000 ÷ 20) $600 If Frank's first payment is $920, he includes only $320 ($920 − $600) in his gross income. How to file a amended tax return   If the tax-free amount for a year is more than the payments you receive in that year, you may choose, when you receive the next payment, to refigure the tax-free part. How to file a amended tax return Divide the amount of the periodic tax-free part that is more than the payment you received by the remaining number of payments you expect. How to file a amended tax return The result is added to the previously figured periodic tax-free part. How to file a amended tax return The sum is the amount of each future payment that will be tax free. How to file a amended tax return Example. How to file a amended tax return Using the facts of the previous example about Frank, assume that after Frank's $920 payment, he received $500 in the following year, and $1,200 in the year after that. How to file a amended tax return Frank does not pay tax on the $500 (second year) payment because $600 of each annual pension payment is tax free. How to file a amended tax return Since the $500 payment is less than the $600 annual tax-free amount, he may choose to refigure his tax-free part when he receives his $1,200 (third year) payment, as follows: Amount tax free in second year $600. How to file a amended tax return 00 Amount received in second year 500. How to file a amended tax return 00 Difference $100. How to file a amended tax return 00 Number of remaining payments after the first 2 payments (age 67, from Table V) 18. How to file a amended tax return 4 Amount to be added to previously determined annual tax-free part ($100 ÷ 18. How to file a amended tax return 4) $5. How to file a amended tax return 43 Revised annual tax-free part for third and later years ($600 + $5. How to file a amended tax return 43) $605. How to file a amended tax return 43 Amount taxable in third year ($1,200 − $605. How to file a amended tax return 43) $594. How to file a amended tax return 57 If you choose to refigure your tax-free amount,   you must file a statement with your income tax return stating that you are refiguring the tax-free amount in accordance with the rules of section 1. How to file a amended tax return 72–4(d)(3) of the Income Tax Regulations. How to file a amended tax return The statement must also show the following information: The annuity starting date and your age on that date. How to file a amended tax return The first day of the first period for which you received an annuity payment in the current year. How to file a amended tax return Your investment in the contract as originally figured. How to file a amended tax return The total of all amounts received tax free under the annuity from the annuity starting date through the first day of the first period for which you received an annuity payment in the current tax year. How to file a amended tax return Exclusion Limits Your annuity starting date determines the total amount of annuity income that you can exclude from income over the years. How to file a amended tax return Exclusion limited to net cost. How to file a amended tax return   If your annuity starting date is after 1986, the total amount of annuity income that you can exclude over the years as a return of your cost cannot exceed your net cost (figured without any reduction for a refund feature). How to file a amended tax return This is the unrecovered investment in the contract as of the annuity starting date. How to file a amended tax return   If your annuity starting date is after July 1, 1986, any unrecovered net cost at your (or last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. How to file a amended tax return This deduction is not subject to the 2%-of-adjusted-gross-income limit. How to file a amended tax return Example 1. How to file a amended tax return Your annuity starting date is after 1986. How to file a amended tax return Your total cost is $12,500, and your net cost is $10,000, taking into account certain adjustments. How to file a amended tax return There is no refund feature. How to file a amended tax return Your monthly annuity payment is $833. How to file a amended tax return 33. How to file a amended tax return Your exclusion ratio is 12% and you exclude $100 a month. How to file a amended tax return Your exclusion ends after 100 months, when you have excluded your net cost of $10,000. How to file a amended tax return Thereafter, your annuity payments are fully taxable. How to file a amended tax return Example 2. How to file a amended tax return The facts are the same as in Example 1, except that there is a refund feature, and you die after 5 years with no surviving annuitant. How to file a amended tax return The adjustment for the refund feature is $1,000, so the investment in the contract is $9,000. How to file a amended tax return The exclusion ratio is 10. How to file a amended tax return 8%, and your monthly exclusion is $90. How to file a amended tax return After 5 years (60 months), you have recovered tax free only $5,400 ($90 x 60). How to file a amended tax return An itemized deduction for the unrecovered net cost of $4,600 ($10,000 net cost minus $5,400) may be taken on your final income tax return. How to file a amended tax return Your unrecovered investment is determined without regard to the refund feature adjustment, discussed earlier, under Adjustments. How to file a amended tax return Exclusion not limited to net cost. How to file a amended tax return   If your annuity starting date was before 1987, you could continue to take your monthly exclusion for as long as you receive your annuity. How to file a amended tax return If you choose a joint and survivor annuity, your survivor continues to take the survivor's exclusion figured as of the annuity starting date. How to file a amended tax return The total exclusion may be more than your investment in the contract. How to file a amended tax return How To Use Actuarial Tables In figuring, under the General Rule, the taxable part of your annuity payments that you are to get for the rest of your life (rather than for a fixed number of years), you must use one or more of the actuarial tables in this publication. How to file a amended tax return Unisex Annuity Tables Effective July 1, 1986, the Internal Revenue Service adopted new annuity Tables V through VIII, in which your sex is not considered when determining the applicable factor. How to file a amended tax return These tables correspond to the old Tables I through IV. How to file a amended tax return In general, Tables V through VIII must be used if you made contributions to the retirement plan after June 30, 1986. How to file a amended tax return If you made no contributions to the plan after June 30, 1986, generally you must use only Tables I through IV. How to file a amended tax return However, if you received an annuity payment after June 30, 1986, you may elect to use Tables V through VIII (see Annuity received after June 30, 1986, later). How to file a amended tax return Special Elections Although you generally must use Tables V through VIII if you made contributions to the retirement plan after June 30, 1986, and Tables I through IV if you made no contributions after June 30, 1986, you can make the following special elections to select which tables to use. How to file a amended tax return Contributions made both before July 1986 and after June 1986. How to file a amended tax return   If you made contributions to the retirement plan both before July 1986 and after June 1986, you may elect to use Tables I through IV for the pre-July 1986 cost of the contract, and Tables V through VIII for the post-June 1986 cost. How to file a amended tax return (See the examples below. How to file a amended tax return )    Making the election. How to file a amended tax return Attach this statement to your income tax return for the first year in which you receive an annuity:    “I elect to apply the provisions of paragraph (d) of section 1. How to file a amended tax return 72–6 of the Income Tax Regulations. How to file a amended tax return ”   The statement must also include your name, address, social security number, and the amount of the pre-July 1986 investment in the contract. How to file a amended tax return   If your investment in the contract includes post-June 1986 contributions to the plan, and you do not make the election to use Tables I through IV and Tables V through VIII, then you can only use Tables V through VIII in figuring the taxable part of your annuity. How to file a amended tax return You must also use Tables V through VIII if you are unable or do not wish to determine the portions of your contributions which were made before July 1, 1986, and after June 30, 1986. How to file a amended tax return    Advantages of election. How to file a amended tax return In general, a lesser amount of each annual annuity payment is taxable if you separately figure your exclusion ratio for pre-July 1986 and post-June 1986 contributions. How to file a amended tax return    If you intend to make this election, save your records that substantiate your pre-July 1986 and post-June 1986 contributions. How to file a amended tax return If the death benefit exclusion applies (see discussion, earlier), you do not have to apportion it between the pre-July 1986 and the post-June 1986 investment in the contract. How to file a amended tax return   The following examples illustrate the separate computations required if you elect to use Tables I through IV for your pre-July 1986 investment in the contract and Tables V through VIII for your post-June 1986 investment in the contract. How to file a amended tax return Example 1. How to file a amended tax return Bill, who is single, contributed $42,000 to the retirement plan and will receive an annual annuity of $24,000 for life. How to file a amended tax return Payment of the $42,000 contribution is guaranteed under a refund feature. How to file a amended tax return Bill is 55 years old as of the annuity starting date. How to file a amended tax return For figuring the taxable part of Bill's annuity, he chose to make separate computations for his pre-July 1986 investment in the contract of $41,300, and for his post-June 1986 investment in the contract of $700. How to file a amended tax return       Pre- July 1986   Post- June 1986 A. How to file a amended tax return Adjustment for refund feature         1) Net cost $41,300   $700   2) Annual annuity—$24,000  ($41,300/$42,000 × $24,000) $23,600       ($700/$42,000 × $24,000)     $400   3) Guarantee under contract $41,300   $700   4) No. How to file a amended tax return of years payments  guaranteed (rounded), A(3) ÷ A(2) 2   2   5) Applicable percentage from  Tables III and VII 1%   0%   6) Adjustment for value of refund  feature, A(5) × smaller of A(1)  or A(3) $413   $0 B. How to file a amended tax return Investment in the contract         1) Net cost $41,300   $700   2) Minus: Amount in A(6) 413   0   3) Investment in the contract $40,887   $700 C. How to file a amended tax return Expected return         1) Annual annuity receivable $24,000   $24,000   2) Multiples from Tables I and V 21. How to file a amended tax return 7   28. How to file a amended tax return 6   3) Expected return, C(1) × C(2) $520,800   $686,400 D. How to file a amended tax return Tax-free part of annuity         1) Exclusion ratio as decimal,  B(3) ÷ C(3) . How to file a amended tax return 079   . How to file a amended tax return 001   2) Tax-free part, C(1) × D(1) $1,896   $24 The tax-free part of Bill's total annuity is $1,920 ($1,896 plus $24). How to file a amended tax return The taxable part of his annuity is $22,080 ($24,000 minus $1,920). How to file a amended tax return If the annuity starting date is after 1986, the exclusion over the years cannot exceed the net cost (figured without any reduction for a refund feature). How to file a amended tax return Example 2. How to file a amended tax return Al is age 62 at his nearest birthday to the annuity starting date. How to file a amended tax return Al's wife is age 60 at her nearest birthday to the annuity starting date. How to file a amended tax return The joint and survivor annuity pays $1,000 per month to Al for life, and $500 per month to Al's surviving wife after his death. How to file a amended tax return The pre-July 1986 investment in the contract is $53,100 and the post-June 1986 investment in the contract is $7,000. How to file a amended tax return Al makes the election described in Example 1 . How to file a amended tax return For purposes of this example, assume the refund feature adjustment is zero. How to file a amended tax return If an adjustment is required, IRS will figure the amount. How to file a amended tax return See Requesting a Ruling on Taxation of Annuity near the end of this publication. How to file a amended tax return       Pre-  July 1986   Post-  June 1986 A. How to file a amended tax return Adjustment for refund feature         1) Net cost $53,100   $7,000   2) Annual annuity—$12,000  ($53,100/$60,100 × $12,000) $10,602       ($7,000/$60,100 × $12,000)     $1,398   3) Guaranteed under the contract $53,100   $7,000   4) Number of years guaranteed,  rounded, A(3) ÷ A(2) 5   5   5) Applicable percentages 0%   0%   6) Refund feature adjustment, A(5) × smaller of A(1) or A(3) 0   0 B. How to file a amended tax return Investment in the contract         1) Net cost $53,100   $7,000   2) Refund feature adjustment 0   0   3) Investment in the contract adjusted for refund feature $53,100   $7,000 C. How to file a amended tax return Expected return         1) Multiple for both annuitants from Tables II and VI 25. How to file a amended tax return 4   28. How to file a amended tax return 8   2) Multiple for first annuitant from Tables I and V 16. How to file a amended tax return 9   22. How to file a amended tax return 5   3) Multiple applicable to surviving annuitant, subtract C(2) from C(1) 8. How to file a amended tax return 5   6. How to file a amended tax return 3   4) Annual annuity to surviving annuitant $6,000   $6,000   5) Portion of expected return for surviving annuitant, C(4) × C(3) $51,000   $37,800   6) Annual annuity to first annuitant $12,000   $12,000   7) Plus: Portion of expected return for first annuitant, C(6) × C(2) $202,800   $270,000   8) Expected return for both annuitants, C(5) + C(7) $253,800   $307,800 D. How to file a amended tax return Tax-free part of annuity         1) Exclusion ratio as a decimal, B(3) ÷ C(8) . How to file a amended tax return 209   . How to file a amended tax return 023   2) Retiree's tax-free part of annuity, C(6) × D(1) $2,508   $276   3) Survivor's tax-free part of annuity, C(4) × D(1) $1,254   $138 The tax-free part of Al's total annuity is $2,784 ($2,508 + $276). How to file a amended tax return The taxable part of his annuity is $9,216 ($12,000 − $2,784). How to file a amended tax return The exclusion over the years cannot exceed the net cost of the contract (figured without any reduction for a refund feature) if the annuity starting date is after 1986. How to file a amended tax return After Al's death, his widow will apply the same exclusion percentages (20. How to file a amended tax return 9% and 2. How to file a amended tax return 3%) to her annual annuity of $6,000 to figure the tax-free part of her annuity. How to file a amended tax return Annuity received after June 30, 1986. How to file a amended tax return   If you receive an annuity payment after June 30, 1986, (regardless of your annuity starting date), you may elect to treat the entire cost of the contract as post-June 1986 cost (even if you made no post-June 1986 contributions to the plan) and use Tables V through VIII. How to file a amended tax return Once made, you cannot revoke the election, which will apply to all payments during the year and in any later year. How to file a amended tax return    Make the election by attaching the following statement to your income tax return. How to file a amended tax return    “I elect, under section 1. How to file a amended tax return 72–9 of the Income Tax Regulations, to treat my entire cost of the contract as a post-June 1986 cost of the plan. How to file a amended tax return ”   The statement must also include your name, address, and social security number. How to file a amended tax return   You should also indicate you are making this election if you are unable or do not wish to determine the parts of your contributions which were made before July 1, 1986, and after June 30, 1986. How to file a amended tax return Disqualifying form of payment or settlement. How to file a amended tax return   If your annuity starting date is after June 30, 1986, and the contract provides for a disqualifying form of payment or settlement, such as an option to receive a lump sum in full discharge of the obligation under the contract, the entire investment in the contract is treated as post-June 1986 investment in the contract. How to file a amended tax return See regulations section 1. How to file a amended tax return 72–6(d)(3) for additional examples of disqualifying forms of payment or settlement. How to file a amended tax return You can find the Income Tax Regulations in many libraries and at Internal Revenue Service Offices. How to file a amended tax return Worksheets for Determining Taxable Annuity Worksheets I and II. How to file a amended tax return   Worksheets I and II follow for determining your taxable annuity under Regulations Section 1. How to file a amended tax return 72–6(d)(6) Election. How to file a amended tax return Worksheet I For Determining Taxable Annuity Under Regulations Section 1. How to file a amended tax return 72-6(d)(6) Election For Single Annuitant With No Survivor Annuity               Pre-July 1986   Post-June 1986 A. How to file a amended tax return   Refund Feature Adjustment             1)   Net cost (total cost less returned premiums, dividends, etc. How to file a amended tax return )             2)   Annual annuity allocation:                   Portion of net cost in A(1) x annual annuity                   Net cost             3)   Guaranteed under the contract             4)   Number of years guaranteed, rounded to whole years:                   A(3) divided by A(2)             5)   Applicable percentages* from Tables III and VII                   *If your annuity meets the three conditions listed in Zero value of refund feature in Investment in the Contract, earlier, both percentages are 0. How to file a amended tax return If not, the IRS will calculate the refund feature percentage. How to file a amended tax return             6)   Refund feature adjustment:                   A(5) times lesser of A(1) or A(3)                             B. How to file a amended tax return   Investment in the Contract             1)   Net cost:                   A(1)             2)   Refund feature adjustment:                   A(6)             3)   Investment in the contract adjusted for refund feature:                   B(1) minus B(2)                             C. How to file a amended tax return   Expected Return             1)   Annual Annuity:                   12 times monthly annuity**             2)   Expected return multiples from Tables I and V             3)     Expected return:                   C(1) times C(2)                             D. How to file a amended tax return   Tax-Free Part of Annuity             1)     Exclusion ratio, as a decimal rounded to 3 places:                   B(3) divided by C(3)             2)     Tax-free part of annuity:                   C(1) times D(1)             **If the annuity is not paid monthly, figure the amount to enter by using the total number of periodic payments for the year times the amount of the periodic payment. How to file a amended tax return     Worksheet II For Determining Taxable Annuity Under Regulations Section 1. How to file a amended tax return 72-6(d)(6) Election For Joint and Survivor Annuity               Pre-July 1986   Post-June 1986 A. How to file a amended tax return   Refund Feature Adjustment             1)   Net cost (total cost less returned premiums, dividends, etc. How to file a amended tax return )             2)   Annual annuity allocation:                   Portion of net cost in A(1) x annual annuity                   Net cost             3)   Guaranteed under the contract             4)     Number of years guaranteed, rounded to whole years:                   A(3) divided by A(2)             5)   Applicable percentages*                   *If your annuity meets the three conditions listed in Zero value of refund feature in Investment in the Contract, earlier, both percentages are 0. How to file a amended tax return If not, the IRS will calculate the refund feature percentage. How to file a amended tax return             6)   Refund feature adjustment:                   A(5) times lesser of A(1) or A(3)                             B. How to file a amended tax return   Investment in the Contract             1)   Net cost:                   A(1)             2)   Refund feature adjustment:                   A(6)             3)   Investment in the contract adjusted for refund future:                   B(1) minus B(2)                             C. How to file a amended tax return   Expected Return             1)   Multiples for both annuitants, Tables II and VI             2)   Multiple for retiree. How to file a amended tax return Tables I and VI             3)   Multiple for survivor:                   C(1) minus C(2)             4)   Annual annuity to survivor:                   12 times potential monthly rate for survivor**             5)   Expected return for survivor:                   C(3) times C(4)             6)   Annual annuity to retiree:                   12 times monthly rate for retiree**             7)   Expected return for retiree:                   C(2) times C(6)             8)   Total expected return:                   C(5) plus C(7)                             D. How to file a amended tax return   Tax-Free Part of Annuity             1)   Exclusion ratio, as a decimal rounded to 3 places:                   B(3) divided by C(8)             2)   Retiree's tax-free part of annuity:                   C(6) times D(1)             3)   Survivor's tax-free part of annuity, if surviving after death of retiree:                   C(4) times D(1)             **If the annuity is not paid monthly, figure the amount to enter by using the total number of periodic payments for the year times the amount of the periodic payment. How to file a amended tax return   Actuarial Tables Please click here for the text description of the image. How to file a amended tax return Actuarial Tables Please click here for the text description of the image. How to file a amended tax return Actuarial Tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. 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How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. 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How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Please click here for the text description of the image. How to file a amended tax return Actuarial tables Requesting a Ruling on Taxation of Annuity If you are a retiree, or the survivor of an employee or retiree, you may ask the Internal Revenue Service to help you determine the taxation of your annuity. How to file a amended tax return If you make this request, you are asking for a ruling. How to file a amended tax return User fee. How to file a amended tax return   Under the law in effect at the time this publication went to print, the IRS must charge a user fee for all ruling requests. How to file a amended tax return You should call the IRS for the proper fee. How to file a amended tax return A request solely for the value of the refund feature is not treated as a ruling request and requires no fee. How to file a amended tax return Send your request to:     Internal Revenue Service  Attention: EP Letter Rulings P. How to file a amended tax return O. How to file a amended tax return Box 27063 McPherson Station Washington, DC 20038 The user fee is allowed as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit. How to file a amended tax return When to make the request. How to file a amended tax return   Please note that requests sent between February 1 and April 15 may experience some delay. How to file a amended tax return We process requests in the order received, and we will reply to your request as soon as we can process it. How to file a amended tax return If you do not receive your ruling by the required filing date, you may use Form 4868, Application for Automatic Extension of Time To File U. How to file a amended tax return S. How to file a amended tax return Individual Income Tax Return, to get an extension of time to file. How to file a amended tax return Information you must furnish. How to file a amended tax return   You must furnish the information listed below so the IRS can comply with your request. How to file a amended tax return Failure to furnish the information will result in a delay in processing your request. How to file a amended tax return Please send only copies of the following documents, as the IRS retains all material sent for its records: A letter explaining the question(s) you wish to have resolved or the information you need from the ruling. How to file a amended tax return Copies of any documents showing distributions, annuity rates, and annuity options available to you. How to file a amended tax return A copy of any Form 1099–R you received since your annuity began. How to file a amended tax return A statement indicating whether you have filed your return for the year for which you are making the request. How to file a amended tax return If you have requested an extension of time to file that return, please indicate the extension date. How to file a amended tax return Your daytime phone number. How to file a amended tax return Your current mailing address. How to file a amended tax return A power of attorney if someone other than you, an attorney, a certified public accountant, or an enrolled agent is signing this request. How to file a amended tax return Form 2848, Power of Attorney and Declaration of Representative, may be used for this purpose. How to file a amended tax return A completed Tax Information Sheet (or facsimile) shown on the next page. How to file a amended tax return Sign and date the Disclosure and Perjury Statement (or facsimile) at the end of the tax information sheet. How to file a amended tax return This statement must be signed by the retiree or the survivor annuitant. How to file a amended tax return It cannot be signed by a representative. How to file a amended tax return Tax Information Sheet Please click here for the text description of the image. How to file a amended tax return Tax Information Sheet Please click here for the text description of the image. How to file a amended tax return Tax Information Sheet (continued) How To Get Tax Help 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. How to file a amended tax return Free help with your tax return. How to file a amended tax return   You can get free help preparing your return nationwide from IRS-certified volunteers. How to file a amended tax return The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. How to file a amended tax return The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. How to file a amended tax return 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. How to file a amended tax return In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. How to file a amended tax return To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. How to file a amended tax return gov, download the IRS2Go app, or call 1-800-906-9887. How to file a amended tax return   As part of the TCE program, AARP offers the Tax-Aide counseling program. How to file a amended tax return To find the nearest AARP Tax-Aide site, visit AARP's website at www. How to file a amended tax return aarp. How to file a amended tax return org/money/taxaide or call 1-888-227-7669. How to file a amended tax return For more information on these programs, go to IRS. How to file a amended tax return gov and enter “VITA” in the search box. How to file a amended tax return Internet. How to file a amended tax return    IRS. How to file a amended tax return gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. How to file a amended tax return Download the free IRS2Go app from the iTunes app store or from Google Play. How to file a amended tax return 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. How to file a amended tax return Check the status of your 2013 refund with the Where's My Refund? application on IRS. How to file a amended tax return gov or download the IRS2Go app and select the Refund Status option. How to file a amended tax return The IRS issues more than 9 out of 10 refunds in less than 21 days. How to file a amended tax return 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. How to file a amended tax return You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. How to file a amended tax return The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. How to file a amended tax return Use the Interactive Tax Assistant (ITA) to research your tax questions. How to file a amended tax return No need to wait on the phone or stand in line. How to file a amended tax return 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. How to file a amended tax return When you reach the response screen, you can print the entire interview and the final response for your records. How to file a amended tax return New subject areas are added on a regular basis. How to file a amended tax return  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. How to file a amended tax return gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. How to file a amended tax return You can use the IRS Tax Map, to search publications and instructions by topic or keyword. How to file a amended tax return The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. How to file a amended tax return 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. How to file a amended tax return 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. How to file a amended tax return You can also ask the IRS to mail a return or an account transcript to you. How to file a amended tax return Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. How to file a amended tax return gov or by calling 1-800-908-9946. How to file a amended tax return Tax return and tax account transcripts are generally available for the current year and the past three years. How to file a amended tax return Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. How to file a amended tax return Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. How to file a amended tax return 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. How to file a amended tax return Check the status of your amended return using Where's My Amended Return? Go to IRS. How to file a amended tax return gov and enter Where's My Amended Return? in the search box. How to file a amended tax return You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. How to file a amended tax return It can take up to 3 weeks from the date you mailed it to show up in our system. How to file a amended tax return Make a payment using one of several safe and convenient electronic payment options available on IRS. How to file a amended tax return gov. How to file a amended tax return Select the Payment tab on the front page of IRS. How to file a amended tax return gov for more information. How to file a amended tax return Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. How to file a amended tax return Figure your income tax withholding with the IRS Withholding Calculator on IRS. How to file a amended tax return gov. How to file a amended tax return 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. How to file a amended tax return Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. How to file a amended tax return gov. How to file a amended tax return Request an Electronic Filing PIN by going to IRS. How to file a amended tax return gov and entering Electronic Filing PIN in the search box. How to file a amended tax return Download forms, instructions and publications, including accessible versions for people with disabilities. How to file a amended tax return Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. How to file a amended tax return gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. How to file a amended tax return An employee can answer questions about your tax account or help you set up a payment plan. How to file a amended tax return Before you visit, check the Office Locator on IRS. How to file a amended tax return gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. How to file a amended tax return If you have a special need, such as a disability, you can request an appointment. How to file a amended tax return Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. How to file a amended tax return Apply for an Employer Identification Number (EIN). How to file a amended tax return Go to IRS. How to file a amended tax return gov and enter Apply for an EIN in the search box. How to file a amended tax return Read the Internal Revenue Code, regulations, or other official guidance. How to file a amended tax return Read Internal Revenue Bulletins. How to file a amended tax return Sign up to receive local and national tax news and more by email. How to file a amended tax return Just click on “subscriptions” above the search box on IRS. How to file a amended tax return gov and choose from a variety of options. How to file a amended tax return    Phone. How to file a amended tax return You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. How to file a amended tax return Download the free IRS2Go app from the iTunes app store or from Google Play. How to file a amended tax return Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. How to file a amended tax return gov, or download the IRS2Go app. How to file a amended tax return 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. How to file a amended tax return The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. How to file a amended tax return Mos
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Office of the Attorney General

Website: Office of the Attorney General

Address: Office of the Attorney General
Consumer Services Division
1400 Bremer Tower
445 Minnesota St.
St. Paul, MN 55101

Phone Number: 651-296-3353

Toll-free: 1-800-657-3787 (MN)

TTY: 651-297-7206 or 1-800-366-4812

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City Consumer Protection Offices

Minneapolis Department of Regulatory Services

Website: Minneapolis Department of Regulatory Services

Address: Minneapolis Department of Regulatory Services
Business Licenses & Consumer Services
City Hall, Room 1C
350 S. 5th St.
Minneapolis, MN 55415

Phone Number: 612-673-2080

TTY: 612-673-2157

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Commerce

Website: Department of Commerce

Address: Department of Commerce
Financial Institutions Division
85 7th Pl. E, Suite 500
St. Paul, MN 55101

Phone Number: 651-296-2488

Toll-free: 1-800-657-3602

TTY: 651-296-2860

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Commerce

Website: Department of Commerce

Address: Department of Commerce
Insurance Division
85 7th Place E
Suite 500
St. Paul, MN 55101

Phone Number: 651-296-4026

Toll-free: 1-800-657-3602 (MN)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Department of Commerce

Website: Department of Commerce

Address: Department of Commerce
Securities Unit
Consumer Protection and Education

85 7th Pl. E, Suite 500
St. Paul, MN 55101

Phone Number: 651-296-4973 (Securities) 651-296-2488 (Consumer Protection)

Toll-free: 1-800-657-3602 (MN)

TTY: 651-296-2860

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Utilities Commission

Website: Public Utilities Commission

Address: Public Utilities Commission
Consumer Affairs Office
121 7th Pl. E, Suite 350
St. Paul, MN 55101-2147

Phone Number: 651-296-0406

Toll-free: 1-800-657-3782

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The How To File A Amended Tax Return

How to file a amended tax return 7. How to file a amended tax return   Filing Information Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: What, When, and Where To FileResident Aliens Nonresident Aliens Amended Returns and Claims for Refund Other Forms You May Have To File PenaltiesCivil Penalties Criminal Penalties Introduction This chapter provides the basic filing information that you may need. How to file a amended tax return Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. How to file a amended tax return Useful Items - You may want to see: Forms (and Instructions) 1040 U. How to file a amended tax return S. How to file a amended tax return Individual Income Tax Return 1040A U. How to file a amended tax return S. How to file a amended tax return Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. How to file a amended tax return S. How to file a amended tax return Nonresident Alien Income Tax Return 1040NR-EZ U. How to file a amended tax return S. How to file a amended tax return Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. How to file a amended tax return What, When, and Where To File What return you must file as well as when and where you file that return, depends on your status at the end of the tax year as a resident or a nonresident alien. How to file a amended tax return Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. How to file a amended tax return The due date for filing the return and paying any tax due is April 15 of the year following the year for which you are filing a return (but see the Tip, later). How to file a amended tax return Under U. How to file a amended tax return S. How to file a amended tax return immigration law, a lawful permanent resident who is required to file a tax return as a resident and fails to do so may be regarded as having abandoned status and may lose permanent resident status. How to file a amended tax return Extensions of time to file. How to file a amended tax return   You are allowed an automatic extension to June 15 to file if your main place of business and the home you live in are outside the United States and Puerto Rico on April 15. How to file a amended tax return You can get an extension of time to October 15 to file your return if you get an extension by April 15 (June 15 if you qualify for the June 15 extension). How to file a amended tax return Use Form 4868 to get the extension to October 15. How to file a amended tax return In addition to this 6-month extension, taxpayers who are out of the country (as defined in the Form 4868 instructions) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). How to file a amended tax return To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. How to file a amended tax return Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address:  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. How to file a amended tax return   The discretionary 2-month additional extension is not available to taxpayers who have an approved extension of time to file on Form 2350 (for U. How to file a amended tax return S. How to file a amended tax return citizens and resident aliens abroad who expect to qualify for special tax treatment). How to file a amended tax return    If the due date for filing falls on a Saturday, Sunday, or legal holiday, the due date is the next day which is not a Saturday, Sunday, or legal holiday. How to file a amended tax return You may be able to file your return electronically. How to file a amended tax return See IRS e-file in your form instructions. How to file a amended tax return Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. How to file a amended tax return If you are any of the following, you must file a return. How to file a amended tax return A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. How to file a amended tax return (But see Exceptions , later. How to file a amended tax return ) You must file even if: Your income did not come from a trade or business conducted in the United States, You have no income from U. How to file a amended tax return S. How to file a amended tax return sources, or Your income is exempt from income tax. How to file a amended tax return A nonresident alien individual not engaged in a trade or business in the United States with U. How to file a amended tax return S. How to file a amended tax return income on which the tax liability was not satisfied by the withholding of tax at the source. How to file a amended tax return A representative or agent responsible for filing the return of an individual described in (1) or (2). How to file a amended tax return A fiduciary for a nonresident alien estate or trust. How to file a amended tax return You must also file if you want to: Claim a refund of overwithheld or overpaid tax, or Claim the benefit of any deductions or credits. How to file a amended tax return For example, if you have no U. How to file a amended tax return S. How to file a amended tax return business activities but have income from real property that you choose to treat as effectively connected income (discussed in chapter 4), you must timely file a true and accurate return to take any allowable deductions against that income. How to file a amended tax return For information on what is timely, see When to file for deductions and credits under When To File, later. How to file a amended tax return Exceptions. How to file a amended tax return   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. How to file a amended tax return Your only U. How to file a amended tax return S. How to file a amended tax return trade or business was the performance of personal services, and Your wages were less than $3,900, and You have no other need to file a return to claim a refund of overwithheld taxes, to satisfy additional withholding at source, or to claim income exempt or partly exempt by treaty. How to file a amended tax return You were a nonresident alien student, teacher, or trainee who was temporarily present in the United States under an “F,” “J,” “M,” or “Q” visa and you have no income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc. How to file a amended tax return Even if you have left the United States and filed a Form 1040-C, U. How to file a amended tax return S. How to file a amended tax return Departing Alien Income Tax Return, on departure, you still must file an annual U. How to file a amended tax return S. How to file a amended tax return income tax return. How to file a amended tax return If you are married and both you and your spouse are required to file, you must each file a separate return. How to file a amended tax return Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. How to file a amended tax return You do not claim any dependents. How to file a amended tax return You cannot be claimed as a dependent on someone else's U. How to file a amended tax return S. How to file a amended tax return tax return. How to file a amended tax return If you were married, you do not claim an exemption for your spouse. How to file a amended tax return Your taxable income is less than $100,000. How to file a amended tax return The only itemized deduction you can claim is for state and local income taxes. How to file a amended tax return Note. How to file a amended tax return Residents of India who were students or business apprentices may be able to take the standard deduction instead of the itemized deduction for state and local income taxes. How to file a amended tax return See chapter 5. How to file a amended tax return Your only U. How to file a amended tax return S. How to file a amended tax return source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. How to file a amended tax return (If you had taxable interest or dividend income, you cannot use this form. How to file a amended tax return ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. How to file a amended tax return You are not claiming any tax credits. How to file a amended tax return This is not an “expatriation return. How to file a amended tax return ” See Expatriation Tax in chapter 4. How to file a amended tax return The only taxes you owe are: The income tax from the Tax Table. How to file a amended tax return The social security and Medicare tax from Form 4137 or Form 8919. How to file a amended tax return You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. How to file a amended tax return You are not filing Form 8959, to figure the amount of Additional Medicare Tax you owe and/or the amount of Additional Medicare Tax withheld by your employer, if any. How to file a amended tax return If you do not meet all of the above conditions, you must file Form 1040NR. How to file a amended tax return When To File If you are an employee and you receive wages subject to U. How to file a amended tax return S. How to file a amended tax return income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. How to file a amended tax return For the 2013 calendar year, file your return by April 15, 2014. How to file a amended tax return If you are not an employee who receives wages subject to U. How to file a amended tax return S. How to file a amended tax return income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. How to file a amended tax return For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. How to file a amended tax return ) Extensions of time to file. How to file a amended tax return   If you cannot file your return by the due date, file Form 4868 or use one of the electronic filing options explained in the Form 4868 instructions. How to file a amended tax return For the 2013 calendar year, this will extend the due date to October 15, 2014 (December 15, 2014, if the regular due date of your return is June 16, 2014). How to file a amended tax return You must file the extension by the regular due date of your return. How to file a amended tax return   In addition to the 6-month extension to October 15, taxpayers whose main place of business is outside the United States and Puerto Rico and who live outside those jurisdictions can request a discretionary 2-month extension of time to file their returns (to December 15 for calendar year taxpayers). How to file a amended tax return To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. How to file a amended tax return Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address: Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. How to file a amended tax return When to file for deductions and credits. How to file a amended tax return   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. How to file a amended tax return For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. How to file a amended tax return However, if you did not file a 2012 tax return and 2013 is not the first year for which you are required to file one, your 2013 return is timely for this purpose if it is filed by the earlier of: The date that is 16 months after the due date for filing your 2013 return, or The date the IRS notifies you that your 2013 return has not been filed and that you cannot claim certain deductions and credits. How to file a amended tax return The allowance of the following credits is not affected by this time requirement. How to file a amended tax return Credit for withheld taxes. How to file a amended tax return Credit for excise tax on certain uses of gasoline and special fuels. How to file a amended tax return Credit for tax paid by a mutual fund (or other regulated investment company) or a real estate investment trust on undistributed long-term capital gains. How to file a amended tax return Protective return. How to file a amended tax return   If your activities in the United States were limited and you do not believe that you had any gross income effectively connected with a U. How to file a amended tax return S. How to file a amended tax return trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. How to file a amended tax return By filing a protective return, you protect your right to receive the benefit of deductions and credits in the event it is later determined that some or all of your income is effectively connected. How to file a amended tax return You are not required to report any effectively connected income or any deductions on the protective return, but you must give the reason the return is being filed. How to file a amended tax return   If you believe some of your activities resulted in effectively connected income, file your return reporting that income and related deductions by the regular due date. How to file a amended tax return To protect your right to claim deductions or credits resulting from other activities, attach a statement to that return explaining that you wish to protect your right to claim deductions and credits if it is later determined that the other activities produced effectively connected income. How to file a amended tax return   You can follow the same procedure if you believe you have no U. How to file a amended tax return S. How to file a amended tax return tax liability because of a U. How to file a amended tax return S. How to file a amended tax return tax treaty. How to file a amended tax return Be sure to also complete item L on page 5 of Form 1040NR. How to file a amended tax return Waiver of filing deadline. How to file a amended tax return   The IRS may waive the filing deadline if you establish that, based on the facts and circumstances, you acted reasonably and in good faith in failing to file a U. How to file a amended tax return S. How to file a amended tax return income tax return (including a protective return) and you cooperate with the IRS in determining your U. How to file a amended tax return S. How to file a amended tax return income tax liability for the tax year for which you did not file a return. How to file a amended tax return Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. How to file a amended tax return  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. How to file a amended tax return O. How to file a amended tax return Box 1303 Charlotte, NC 28201-1303 Aliens from the U. How to file a amended tax return S. How to file a amended tax return Virgin Islands. How to file a amended tax return    If you are a bona fide resident of the U. How to file a amended tax return S. How to file a amended tax return Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. How to file a amended tax return S. How to file a amended tax return Virgin Islands and file your income tax returns at the following address. How to file a amended tax return Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. How to file a amended tax return Thomas, VI 00802   Report all income from U. How to file a amended tax return S. How to file a amended tax return sources, as well as income from other sources, on your return. How to file a amended tax return For information on filing U. How to file a amended tax return S. How to file a amended tax return Virgin Islands returns, contact the U. How to file a amended tax return S. How to file a amended tax return Virgin Islands Bureau of Internal Revenue. How to file a amended tax return   Chapter 8 discusses withholding from U. How to file a amended tax return S. How to file a amended tax return wages of U. How to file a amended tax return S. How to file a amended tax return Virgin Islanders. How to file a amended tax return Aliens from Guam or the Commonwealth of the Northern Mariana Islands. How to file a amended tax return   If you are a bona fide resident of Guam or the Commonwealth of the Northern Mariana Islands (CNMI) during your entire tax year, you must file your return with, and pay any tax due to, Guam or the CNMI. How to file a amended tax return Report all income, including income from U. How to file a amended tax return S. How to file a amended tax return sources, on your return. How to file a amended tax return It is not necessary to file a separate U. How to file a amended tax return S. How to file a amended tax return income tax return. How to file a amended tax return    Bona fide residents of Guam should file their Guam returns at the following address. How to file a amended tax return   Department of Revenue and Taxation Government of Guam P. How to file a amended tax return O. How to file a amended tax return Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. How to file a amended tax return   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. How to file a amended tax return O. How to file a amended tax return Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. How to file a amended tax return 570, Tax Guide for Individuals With Income From U. How to file a amended tax return S. How to file a amended tax return Possessions, for information on where to file your return. How to file a amended tax return Amended Returns and Claims for Refund If you find changes in your income, deductions, or credits after you mail your return, file Form 1040X, Amended U. How to file a amended tax return S. How to file a amended tax return Individual Income Tax Return. How to file a amended tax return Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. How to file a amended tax return If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. How to file a amended tax return ) to Form 1040X. How to file a amended tax return Print “Amended” across the top. How to file a amended tax return Ordinarily, an amended return claiming a refund must be filed within 3 years from the date your return was filed or within 2 years from the time the tax was paid, whichever is later. How to file a amended tax return A return filed before the final due date is considered to have been filed on the due date. How to file a amended tax return Other Forms You May Have To File You may be required to file information returns to report certain foreign income or assets, or monetary transactions. How to file a amended tax return FinCen Form 105 FinCEN Form 105 (formerly Customs Form 4790), Report of International Transportation of Currency or Monetary Instruments, must be filed by each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped, currency or other monetary instruments in a total amount of more than $10,000 at one time from the United States to any place outside the United States, or into the United States from any place outside the United States. How to file a amended tax return The filing requirement also applies to each person who receives in the United States currency or monetary instruments totaling more than $10,000 at one time from any place outside of the United States. How to file a amended tax return The term “monetary instruments” means the following: Coin and currency of the United States or of any other country, Travelers' checks in any form, Investment securities or stock in bearer form or otherwise in such form that title to them passes upon delivery, Negotiable instruments (including checks, promissory notes, and money orders) in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title to them passes upon delivery, and Checks, promissory notes, and money orders which are signed but on which the name of the payee has been omitted. How to file a amended tax return However, the term does not include: Checks or money orders made payable to the order of a named person which have not been endorsed or which contain restrictive endorsements, Warehouse receipts, or Bills of lading. How to file a amended tax return A transfer of funds through normal banking procedures (wire transfer) that does not involve the physical transportation of currency or monetary instruments is not required to be reported on FinCEN Form 105. How to file a amended tax return Filing requirements. How to file a amended tax return   FinCEN Form 105 filing requirements follow. How to file a amended tax return Recipients. How to file a amended tax return   Each person who receives currency or other monetary instruments in the United States must file FinCEN Form 105 within 15 days after receipt, with the Customs officer in charge at any port of entry or departure, or by mail at the following address. How to file a amended tax return Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. How to file a amended tax return   If the currency or other monetary instrument does not accompany the person entering or departing the United States, FinCEN Form 105 can be filed by mail at the above address on or before the date of entry, departure, mailing, or shipping. How to file a amended tax return Travelers. How to file a amended tax return   Travelers must file FinCEN Form 105 with the Customs officer in charge at any Customs port of entry or departure, when entering or departing the United States. How to file a amended tax return Penalties. How to file a amended tax return   Civil and criminal penalties are provided for failing to file a report, filing a report containing material omissions or misstatements, or filing a false or fraudulent report. How to file a amended tax return Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. How to file a amended tax return More information. How to file a amended tax return   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. How to file a amended tax return Form 8938 You may have to file Form 8938, Statement of Specified Foreign Financial Assets, to report the ownership of specified foreign financial asset(s) if you are one of the following individuals. How to file a amended tax return A resident alien of the United States for any part of the tax year. How to file a amended tax return A resident alien of the United States who elects to be treated as a resident of a foreign country under the provisions of a U. How to file a amended tax return S. How to file a amended tax return income tax treaty. How to file a amended tax return See Effect of Tax Treaties in chapter 1. How to file a amended tax return A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. How to file a amended tax return See chapter 1 for information about this election. How to file a amended tax return A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. How to file a amended tax return See Publication 570, Tax Guide for Individuals With Income From U. How to file a amended tax return S. How to file a amended tax return Possessions, for a definition of bona fide resident. How to file a amended tax return You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). How to file a amended tax return The reporting threshold varies depending on whether you live in the United States, are married, or file a joint income tax return with your spouse. How to file a amended tax return Specified foreign financial assets include any financial account maintained by a foreign financial institution and, to the extent held for investment, any stock, securities, or any other interest in a foreign entity and any financial instrument or contract with an issuer or counterparty that is not a U. How to file a amended tax return S. How to file a amended tax return person. How to file a amended tax return You may have to pay penalties if you are required to file Form 8938 and fail to do so, or if you have an understatement of tax due to any transaction involving an undisclosed foreign financial asset. How to file a amended tax return More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. How to file a amended tax return Penalties The law provides penalties for failure to file returns or pay taxes as required. How to file a amended tax return Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. How to file a amended tax return You may also have to pay a penalty if you substantially understate your tax, file a frivolous tax submission, or fail to supply your taxpayer identification number. How to file a amended tax return If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. How to file a amended tax return Filing late. How to file a amended tax return   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. How to file a amended tax return The penalty is based on the tax not paid by the due date (without regard to extensions). How to file a amended tax return The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. How to file a amended tax return Fraud. How to file a amended tax return   If your failure to file is due to fraud, the penalty is 15% for each month or part of a month that your return is late, up to a maximum of 75%. How to file a amended tax return Return over 60 days late. How to file a amended tax return   If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. How to file a amended tax return Exception. How to file a amended tax return   You will not have to pay the penalty if you show that you failed to file on time because of reasonable cause and not because of willful neglect. How to file a amended tax return Paying tax late. How to file a amended tax return   You will have to pay a failure-to-pay penalty of ½ of 1% (. How to file a amended tax return 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. How to file a amended tax return This penalty does not apply during the automatic 6-month extension of time to file period, if you paid at least 90% of your actual tax liability on or before the due date of your return and pay the balance when you file the return. How to file a amended tax return   The monthly rate of the failure-to-pay penalty is half the usual rate (. How to file a amended tax return 25% instead of . How to file a amended tax return 50%) if an installment agreement is in effect for that month. How to file a amended tax return You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. How to file a amended tax return   If a notice of intent to levy is issued, the rate will increase to 1% at the start of the first month beginning at least 10 days after the day that the notice is issued. How to file a amended tax return If a notice and demand for immediate payment is issued, the rate will increase to 1% at the start of the first month beginning after the day that the notice and demand is issued. How to file a amended tax return   This penalty cannot be more than 25% of your unpaid tax. How to file a amended tax return You will not have to pay the penalty if you can show that you had a good reason for not paying your tax on time. How to file a amended tax return Combined penalties. How to file a amended tax return   If both the failure-to-file penalty and the failure-to-pay penalty (discussed earlier) apply in any month, the 5% (or 15%) failure-to-file penalty is reduced by the failure-to-pay penalty. How to file a amended tax return However, if you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. How to file a amended tax return Accuracy-related penalty. How to file a amended tax return   You may have to pay an accuracy-related penalty if you underpay your tax because: You show negligence or disregard of rules or regulations, You substantially understate your income tax, You claim tax benefits for a transaction that lacks economic substance, or You fail to disclose a foreign financial asset. How to file a amended tax return The penalty is equal to 20% of the underpayment. How to file a amended tax return The penalty is 40% of any portion of the underpayment that is attributable to an undisclosed noneconomic substance transaction or an undisclosed foreign financial asset transaction. How to file a amended tax return The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. How to file a amended tax return Negligence or disregard. How to file a amended tax return   The term “negligence” includes a failure to make a reasonable attempt to comply with the tax law or to exercise ordinary and reasonable care in preparing a return. How to file a amended tax return Negligence also includes failure to keep adequate books and records. How to file a amended tax return You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. How to file a amended tax return   The term “disregard” includes any careless, reckless, or intentional disregard. How to file a amended tax return Adequate disclosure. How to file a amended tax return   You can avoid the penalty for disregard of rules or regulations if you adequately disclose on your return a position that has at least a reasonable basis. How to file a amended tax return See Disclosure statement , later. How to file a amended tax return   This exception will not apply to an item that is attributable to a tax shelter. How to file a amended tax return In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. How to file a amended tax return Substantial understatement of income tax. How to file a amended tax return   You understate your tax if the tax shown on your return is less than the correct tax. How to file a amended tax return The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. How to file a amended tax return However, the amount of the understatement is reduced to the extent the understatement is due to: Substantial authority, or Adequate disclosure and a reasonable basis. How to file a amended tax return   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. How to file a amended tax return However, there is a reduction for a position with substantial authority, but only if you reasonably believed that your tax treatment was more likely than not the proper treatment. How to file a amended tax return Substantial authority. How to file a amended tax return   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. How to file a amended tax return Consideration will be given to court opinions, Treasury regulations, revenue rulings, revenue procedures, and notices and announcements issued by the IRS and published in the Internal Revenue Bulletin that involve the same or similar circumstances as yours. How to file a amended tax return Disclosure statement. How to file a amended tax return   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. How to file a amended tax return You must also have a reasonable basis for treating the item the way you did. How to file a amended tax return   In cases of substantial understatement only, items that meet the requirements of Revenue Procedure 2012-51, 2012-51 IRB 719 (or later update) are considered adequately disclosed on your return without filing Form 8275. How to file a amended tax return   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. How to file a amended tax return Transaction lacking economic substance. How to file a amended tax return   For more information on economic substance, see section 7701(o). How to file a amended tax return Foreign financial asset. How to file a amended tax return   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. How to file a amended tax return Reasonable cause. How to file a amended tax return   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. How to file a amended tax return You must also show that you acted in good faith. How to file a amended tax return This does not apply to a transaction that lacks economic substance. How to file a amended tax return Filing erroneous claim for refund or credit. How to file a amended tax return   You may have to pay a penalty if you file an erroneous claim for refund or credit. How to file a amended tax return The penalty is equal to 20% of the disallowed amount of the claim, unless you can show a reasonable basis for the way you treated an item. How to file a amended tax return However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. How to file a amended tax return The penalty will not be figured on any part of the disallowed amount of the claim that relates to the earned income credit or on which the accuracy-related or fraud penalties are charged. How to file a amended tax return Frivolous tax submission. How to file a amended tax return   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. How to file a amended tax return A frivolous tax return is one that does not include enough information to figure the correct tax or that contains information clearly showing that the tax you reported is substantially incorrect. How to file a amended tax return For more information on frivolous returns, frivolous submissions, and a list of positions that are identified as frivolous, see Notice 2010-33, 2010-17 IRB 609 available at www. How to file a amended tax return irs. How to file a amended tax return gov/irb/2010-17_irb/ar13. How to file a amended tax return html. How to file a amended tax return   You will have to pay the penalty if you filed this kind of return or submission based on a frivolous position or a desire to delay or interfere with the administration of federal tax laws. How to file a amended tax return This includes altering or striking out the preprinted language above the space provided for your signature. How to file a amended tax return   This penalty is added to any other penalty provided by law. How to file a amended tax return Fraud. How to file a amended tax return   If there is any underpayment of tax on your return due to fraud, a penalty of 75% of the underpayment due to fraud will be added to your tax. How to file a amended tax return Failure to supply taxpayer identification number. How to file a amended tax return   If you do not include your social security number (SSN) or individual taxpayer identification number (ITIN) or the SSN or ITIN of another person where required on a return, statement, or other document, you will be subject to a penalty of $50 for each failure. How to file a amended tax return You will also be subject to a penalty of $50 if you do not give your SSN or ITIN to another person when it is required on a return, statement, or other document. How to file a amended tax return   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. How to file a amended tax return The number must be shown on the Form 1099-INT or other statement the bank sends you. How to file a amended tax return If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. How to file a amended tax return (You also may be subject to “backup” withholding of income tax. How to file a amended tax return )   You will not have to pay the penalty if you are able to show that the failure was due to reasonable cause and not willful neglect. How to file a amended tax return Criminal Penalties You may be subject to criminal prosecution (brought to trial) for actions such as: Tax evasion, Willful failure to file a return, supply information, or pay any tax due, Fraud and false statements, or Preparing and filing a fraudulent return. How to file a amended tax return Prev  Up  Next   Home   More Online Publications