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Income Tax 2012 Forms

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Income Tax 2012 Forms

Income tax 2012 forms 3. Income tax 2012 forms   Limit on Annual Additions Table of Contents Ministers and church employees. Income tax 2012 forms Includible Compensation for Your Most Recent Year of ServiceMost Recent Year of Service Includible Compensation The first component of MAC is the limit on annual additions. Income tax 2012 forms This is a limit on the total contributions (elective deferrals, nonelective contributions, and after-tax contributions) that can be made to your 403(b) account. Income tax 2012 forms The limit on annual additions generally is the lesser of: $51,000 for 2013 and $52,000 for 2014, or 100% of your includible compensation for your most recent year of service. Income tax 2012 forms More than one 403(b) account. Income tax 2012 forms If you contributed to more than one 403(b) account, you must combine the contributions made to all 403(b) accounts on your behalf by your employer. Income tax 2012 forms Ministers and church employees. Income tax 2012 forms   If you are a minister or a church employee, you may be able to increase your limit on annual additions or use different rules when figuring your limit on annual additions. Income tax 2012 forms For more information, see chapter 5. Income tax 2012 forms Participation in a qualified plan. Income tax 2012 forms If you participated in a 403(b) plan and a qualified plan, you must combine contributions made to your 403(b) account with contributions to a qualified plan and simplified employee pensions of all corporations, partnerships, and sole proprietorships in which you have more than 50% control. Income tax 2012 forms You can use Part I of Worksheet 1 in chapter 9 to figure your limit on annual additions. Income tax 2012 forms Includible Compensation for Your Most Recent Year of Service Definition. Income tax 2012 forms   Generally, includible compensation for your most recent year of service is the amount of taxable wages and benefits you received from the employer that maintained a 403(b) account for your benefit during your most recent year of service. Income tax 2012 forms When figuring your includible compensation for your most recent year of service, keep in mind that your most recent year of service may not be the same as your employer's most recent annual work period. Income tax 2012 forms This can happen if your tax year is not the same as your employer's annual work period. Income tax 2012 forms When figuring includible compensation for your most recent year of service, do not mix compensation or service of one employer with compensation or service of another employer. Income tax 2012 forms Most Recent Year of Service Your most recent year of service is your last full year of service, ending on the last day of your tax year that you worked for the employer that maintained a 403(b) account on your behalf. Income tax 2012 forms Tax year different from employer's annual work period. Income tax 2012 forms   If your tax year is not the same as your employer's annual work period, your most recent year of service is made up of parts of at least two of your employer's annual work periods. Income tax 2012 forms Example. Income tax 2012 forms A professor who reports her income on a calendar-year basis is employed on a full-time basis by a university that operates on an academic year (October through May). Income tax 2012 forms To figure her includible compensation for 2013, the professor's most recent year of service is her service from January through May 2013 and from October through December 2013. Income tax 2012 forms Figuring Your Most Recent Year of Service To figure your most recent year of service, begin by determining what is a full year of service for your position. Income tax 2012 forms A full year of service is equal to full-time employment for your employer's annual work period. Income tax 2012 forms After identifying a full year of service, begin counting the service you have provided for your employer starting with the service provided in the current year. Income tax 2012 forms Part-time or employed only part of the year. Income tax 2012 forms   If you are a part-time or a full-time employee who is employed for only part of the year, your most recent year of service is your service this year and your service for as many previous years as is necessary to total 1 full year of service. Income tax 2012 forms To determine your most recent year of service, add the following periods of service: Your service during the year for which you are figuring the limit on annual additions, and Your service during your preceding tax years until the total service equals 1 year of service or you have figured all of your service with the employer. Income tax 2012 forms Example. Income tax 2012 forms You were employed on a full-time basis from July through December 2011 (1/2 year of service), July through December 2012 (1/2 year of service), and October through December 2013 (1/4 year of service). Income tax 2012 forms Your most recent year of service for computing your limit on annual additions for 2013 is the total of your service during 2013 (1/4 year of service), your service during 2012 (1/2 year of service), and your service during the months October through December 2011 (1/4 year of service). Income tax 2012 forms Not yet employed for 1 year. Income tax 2012 forms   If, at the close of the year, you have not yet worked for your employer for 1 year (including time you worked for the same employer in all earlier years), use the period of time you have worked for the employer as your most recent year of service. Income tax 2012 forms Includible Compensation After identifying your most recent year of service, the next step is to identify the includible compensation associated with that full year of service. Income tax 2012 forms Includible compensation is not the same as income included on your tax return. Income tax 2012 forms Compensation is a combination of income and benefits received in exchange for services provided to your employer. Income tax 2012 forms Generally, includible compensation is the amount of income and benefits: Received from the employer who maintains your 403(b) account, and Must be included in your income. Income tax 2012 forms Includible compensation includes the following amounts. Income tax 2012 forms Elective deferrals (employer's contributions made on your behalf under a salary reduction agreement). Income tax 2012 forms Amounts contributed or deferred by your employer under a section 125 cafeteria plan. Income tax 2012 forms Amounts contributed or deferred, at the election of the employee, under an eligible section 457 nonqualified deferred compensation plan (state or local government or tax-exempt organization plan). Income tax 2012 forms  Note. Income tax 2012 forms For information about treating elective deferrals under section 457 plans as Roth contributions, see Publication 575. Income tax 2012 forms Wages, salaries, and fees for personal services earned with the employer maintaining your 403(b) account. Income tax 2012 forms Income otherwise excluded under the foreign earned income exclusion. Income tax 2012 forms Pre-tax contributions (employer's contributions made on your behalf according to your election) to a qualified transportation fringe benefit plan. Income tax 2012 forms Includible compensation does not include the following items. Income tax 2012 forms Your employer's contributions to your 403(b) account. Income tax 2012 forms Compensation earned while your employer was not an eligible employer. Income tax 2012 forms Your employer's contributions to a qualified plan that: Are on your behalf, and Are excludable from income. Income tax 2012 forms The cost of incidental life insurance. Income tax 2012 forms See Cost of Incidental Life Insurance, later. Income tax 2012 forms If you are a church employee or a foreign missionary, figure includible compensation using the rules explained in chapter 5. Income tax 2012 forms Contributions after retirement. Income tax 2012 forms   Nonelective contributions may be made for an employee for up to 5 years after retirement. Income tax 2012 forms These contributions would be based on includible compensation for the last year of service before retirement. Income tax 2012 forms Cost of Incidental Life Insurance Includible compensation does not include the cost of incidental life insurance. Income tax 2012 forms If all of your 403(b) accounts invest only in mutual funds, then you have no incidental life insurance. Income tax 2012 forms If you have an annuity contract, a portion of the cost of that contract may be for incidental life insurance. Income tax 2012 forms If so, the cost of the insurance is taxable to you in the year contributed and is considered part of your basis when distributed. Income tax 2012 forms Your employer will include the cost of your insurance as taxable wages in box 1 of Form W-2. Income tax 2012 forms Not all annuity contracts include life insurance. Income tax 2012 forms Contact your plan administrator to determine if your contract includes incidental life insurance. Income tax 2012 forms If it does, you will need to figure the cost of life insurance each year the policy is in effect. Income tax 2012 forms Figuring the cost of incidental life insurance. Income tax 2012 forms If you have determined that part of the cost of your annuity contract is for an incidental life insurance premium, you will need to determine the amount of the premium and subtract it from your includible compensation. Income tax 2012 forms To determine the amount of the life insurance premiums, you will need to know the following information. Income tax 2012 forms The value of your life insurance contract, which is the amount payable upon your death. Income tax 2012 forms The cash value of your life insurance contract at the end of the tax year. Income tax 2012 forms Your age on your birthday nearest the beginning of the policy year. Income tax 2012 forms Your current life insurance protection under an ordinary retirement income life insurance policy, which is the amount payable upon your death minus the cash value of the contract at the end of the year. Income tax 2012 forms You can use Worksheet A, in chapter 9, to determine the cost of your incidental life insurance. Income tax 2012 forms Example. Income tax 2012 forms Your new contract provides that your beneficiary will receive $10,000 if you should die before retirement. Income tax 2012 forms Your cash value in the contract at the end of the first year is zero. Income tax 2012 forms Your current life insurance protection for the first year is $10,000 ($10,000 − 0). Income tax 2012 forms The cash value in the contract at the end of year two is $1,000, and the current life insurance protection for the second year is $9,000 ($10,000 – $1,000). Income tax 2012 forms The 1-year cost of the protection can be calculated by using Figure 3-1, Table of One-Year Term Premiums for $1,000 Life Insurance Protection . Income tax 2012 forms The premium rate is determined based on your age on your birthday nearest the beginning of the policy year. Income tax 2012 forms Figure 3-1. Income tax 2012 forms Table of One-Year Term Premiums for $1,000 Life Insurance Protection Age Cost   Age Cost   Age Cost 0 $0. Income tax 2012 forms 70   35 $0. Income tax 2012 forms 99   70 $20. Income tax 2012 forms 62 1 0. Income tax 2012 forms 41   36 1. Income tax 2012 forms 01   71 22. Income tax 2012 forms 72 2 0. Income tax 2012 forms 27   37 1. Income tax 2012 forms 04   72 25. Income tax 2012 forms 07 3 0. Income tax 2012 forms 19   38 1. Income tax 2012 forms 06   73 27. Income tax 2012 forms 57 4 0. Income tax 2012 forms 13   39 1. Income tax 2012 forms 07   74 30. Income tax 2012 forms 18 5 0. Income tax 2012 forms 13   40 1. Income tax 2012 forms 10   75 33. Income tax 2012 forms 05 6 0. Income tax 2012 forms 14   41 1. Income tax 2012 forms 13   76 36. Income tax 2012 forms 33 7 0. Income tax 2012 forms 15   42 1. Income tax 2012 forms 20   77 40. Income tax 2012 forms 17 8 0. Income tax 2012 forms 16   43 1. Income tax 2012 forms 29   78 44. Income tax 2012 forms 33 9 0. Income tax 2012 forms 16   44 1. Income tax 2012 forms 40   79 49. Income tax 2012 forms 23 10 0. Income tax 2012 forms 16   45 1. Income tax 2012 forms 53   80 54. Income tax 2012 forms 56 11 0. Income tax 2012 forms 19   46 1. Income tax 2012 forms 67   81 60. Income tax 2012 forms 51 12 0. Income tax 2012 forms 24   47 1. Income tax 2012 forms 83   82 66. Income tax 2012 forms 74 13 0. Income tax 2012 forms 28   48 1. Income tax 2012 forms 98   83 73. Income tax 2012 forms 07 14 0. Income tax 2012 forms 33   49 2. Income tax 2012 forms 13   84 80. Income tax 2012 forms 35 15 0. Income tax 2012 forms 38   50 2. Income tax 2012 forms 30   85 88. Income tax 2012 forms 76 16 0. Income tax 2012 forms 52   51 2. Income tax 2012 forms 52   86 99. Income tax 2012 forms 16 17 0. Income tax 2012 forms 57   52 2. Income tax 2012 forms 81   87 110. Income tax 2012 forms 40 18 0. Income tax 2012 forms 59   53 3. Income tax 2012 forms 20   88 121. Income tax 2012 forms 85 19 0. Income tax 2012 forms 61   54 3. Income tax 2012 forms 65   89 133. Income tax 2012 forms 40 20 0. Income tax 2012 forms 62   55 4. Income tax 2012 forms 15   90 144. Income tax 2012 forms 30 21 0. Income tax 2012 forms 62   56 4. Income tax 2012 forms 68   91 155. Income tax 2012 forms 80 22 0. Income tax 2012 forms 64   57 5. Income tax 2012 forms 20   92 168. Income tax 2012 forms 75 23 0. Income tax 2012 forms 66   58 5. Income tax 2012 forms 66   93 186. Income tax 2012 forms 44 24 0. Income tax 2012 forms 68   59 6. Income tax 2012 forms 06   94 206. Income tax 2012 forms 70 25 0. Income tax 2012 forms 71   60 6. Income tax 2012 forms 51   95 228. Income tax 2012 forms 35 26 0. Income tax 2012 forms 73   61 7. Income tax 2012 forms 11   96 250. Income tax 2012 forms 01 27 0. Income tax 2012 forms 76   62 7. Income tax 2012 forms 96   97 265. Income tax 2012 forms 09 28 0. Income tax 2012 forms 80   63 9. Income tax 2012 forms 08   98 270. Income tax 2012 forms 11 29 0. Income tax 2012 forms 83   64 10. Income tax 2012 forms 41   99 281. Income tax 2012 forms 05 30 0. Income tax 2012 forms 87   65 11. Income tax 2012 forms 90       31 0. Income tax 2012 forms 90   66 13. Income tax 2012 forms 51       32 0. Income tax 2012 forms 93   67 15. Income tax 2012 forms 20       33 0. Income tax 2012 forms 96   68 16. Income tax 2012 forms 92       34 0. Income tax 2012 forms 98   69 18. Income tax 2012 forms 70                       If the current published premium rates per $1,000 of insurance protection charged by an insurer for individual 1-year term life insurance premiums available to all standard risks are lower than those in the preceding table, you can use the lower rates for figuring the cost of insurance in connection with individual policies issued by the same insurer. Income tax 2012 forms Example 1. Income tax 2012 forms Lynne Green, age 44, and her employer enter into a 403(b) plan that will provide her with a $500 a month annuity upon retirement at age 65. Income tax 2012 forms The agreement also provides that if she should die before retirement, her beneficiary will receive the greater of $20,000 or the cash surrender value in the life insurance contract. Income tax 2012 forms Using the facts presented we can determine the cost of Lynne's life insurance protection as shown in Table 3-1. Income tax 2012 forms Lynne's employer has included $28 for the cost of the life insurance protection in her current year's income. Income tax 2012 forms When figuring her includible compensation for this year, Lynne will subtract $28. Income tax 2012 forms Table 3-1. Income tax 2012 forms Worksheet A. Income tax 2012 forms Cost of Incidental Life Insurance Note. Income tax 2012 forms Use this worksheet to figure the cost of incidental life insurance included in your annuity contract. Income tax 2012 forms This amount will be used to figure includible compensation for your most recent year of service. Income tax 2012 forms 1. Income tax 2012 forms Enter the value of the contract (amount payable upon your death) 1. Income tax 2012 forms $20,000. Income tax 2012 forms 00 2. Income tax 2012 forms Enter the cash value in the contract at the end of the year 2. Income tax 2012 forms 0. Income tax 2012 forms 00 3. Income tax 2012 forms Subtract line 2 from line 1. Income tax 2012 forms This is the value of your current life insurance protection 3. Income tax 2012 forms $20,000. Income tax 2012 forms 00 4. Income tax 2012 forms Enter your age on your birthday nearest the beginning of the policy year 4. Income tax 2012 forms 44 5. Income tax 2012 forms Enter the 1-year term premium for $1,000 of life insurance based on your age. Income tax 2012 forms (From Figure 3-1) 5. Income tax 2012 forms $1. Income tax 2012 forms 40 6. Income tax 2012 forms Divide line 3 by $1,000 6. Income tax 2012 forms 20 7. Income tax 2012 forms Multiply line 6 by line 5. Income tax 2012 forms This is the cost of your incidental life insurance 7. Income tax 2012 forms $28. Income tax 2012 forms 00 Example 2. Income tax 2012 forms Lynne's cash value in the contract at the end of the second year is $1,000. Income tax 2012 forms In year two, the cost of Lynne's life insurance is calculated as shown in Table 3-2. Income tax 2012 forms In year two, Lynne's employer will include $29. Income tax 2012 forms 07 in her current year's income. Income tax 2012 forms Lynne will subtract this amount when figuring her includible compensation. Income tax 2012 forms Table 3-2. Income tax 2012 forms Worksheet A. Income tax 2012 forms Cost of Incidental Life Insurance Note. Income tax 2012 forms Use this worksheet to figure the cost of incidental life insurance included in your annuity contract. Income tax 2012 forms This amount will be used to figure includible compensation for your most recent year of service. Income tax 2012 forms 1. Income tax 2012 forms Enter the value of the contract (amount payable upon your death) 1. Income tax 2012 forms $20,000. Income tax 2012 forms 00 2. Income tax 2012 forms Enter the cash value in the contract at the end of the year 2. Income tax 2012 forms $1,000. Income tax 2012 forms 00 3. Income tax 2012 forms Subtract line 2 from line 1. Income tax 2012 forms This is the value of your current life insurance protection 3. Income tax 2012 forms $19,000. Income tax 2012 forms 00 4. Income tax 2012 forms Enter your age on your birthday nearest the beginning of the policy year 4. Income tax 2012 forms 45 5. Income tax 2012 forms Enter the 1-year term premium for $1,000 of life insurance based on your age. Income tax 2012 forms (From Figure 3-1) 5. Income tax 2012 forms $1. Income tax 2012 forms 53 6. Income tax 2012 forms Divide line 3 by $1,000 6. Income tax 2012 forms 19 7. Income tax 2012 forms Multiply line 6 by line 5. Income tax 2012 forms This is the cost of your incidental life insurance 7. Income tax 2012 forms $29. Income tax 2012 forms 07 Figuring Includible Compensation for Your Most Recent Year of Service You can use Worksheet B in chapter 9 to determine your includible compensation for your most recent year of service. Income tax 2012 forms Example. Income tax 2012 forms Floyd has been periodically working full-time for a local hospital since September 2011. Income tax 2012 forms He needs to figure his limit on annual additions for 2014. Income tax 2012 forms The hospital's normal annual work period for employees in Floyd's general type of work runs from January to December. Income tax 2012 forms During the periods that Floyd was employed with the hospital, the hospital has always been eligible to provide a 403(b) plan to employees. Income tax 2012 forms Additionally, the hospital has never provided the employees with a 457 deferred compensation plan, a transportation fringe benefit plan, or a cafeteria plan. Income tax 2012 forms Floyd has never worked abroad and there is no life insurance provided under the plan. Income tax 2012 forms Table 3-3 shows the service Floyd provided to his employer, his compensation for the periods worked, his elective deferrals, and his taxable wages. Income tax 2012 forms Table 3-3. Income tax 2012 forms Floyd's Compensation Note. Income tax 2012 forms This table shows information Floyd will use to figure includible compensation for his most recent year of service. Income tax 2012 forms   Year Years of Service Taxable Wages Elective Deferrals 2014 6/12 of  a year $42,000 $2,000 2013 4/12 of  a year $16,000 $1,650 2012 4/12 of  a year $16,000 $1,650 Before Floyd can figure his limit on annual additions, he must figure includible compensation for his most recent year of service. Income tax 2012 forms Because Floyd is not planning to work the entire 2014 year, his most recent year of service will include the time he is planning to work in 2014 plus time he worked in the preceding 3 years until the time he worked for the hospital totals 1 year. Income tax 2012 forms If the total time he worked is less than 1 year, Floyd will treat it as if it were 1 year. Income tax 2012 forms He figures his most recent year of service shown in the following list. Income tax 2012 forms Time he will work in 2014 is 6/12 of a year. Income tax 2012 forms Time worked in 2013 is 4/12 of a year. Income tax 2012 forms All of this time will be used to determine Floyd's most recent year of service. Income tax 2012 forms Time worked in 2012 is 4/12 of a year. Income tax 2012 forms Floyd only needs 2 months of the 4 months he worked in 2012 to have enough time to total 1 full year. Income tax 2012 forms Because he needs only one-half of the actual time he worked, Floyd will use only one-half of his income earned during that period to calculate wages that will be used in figuring his includible compensation. Income tax 2012 forms Using the information provided in Table 3-3, wages for Floyd's most recent year of service are $66,000 ($42,000 + $16,000 + $8,000). Income tax 2012 forms His includible compensation for his most recent year of service is figured as shown in Table 3-4. Income tax 2012 forms After figuring his includible compensation, Floyd determines his limit on annual additions for 2014 to be $52,000, the lesser of his includible compensation, $70,475 (Table 3-4), and the maximum amount of $52,000. Income tax 2012 forms Table 3-4. Income tax 2012 forms Worksheet B. Income tax 2012 forms Includible Compensation for Your Most Recent Year of Service1 Note. Income tax 2012 forms Use this worksheet to figure includible compensation for your most recent year of service. Income tax 2012 forms 1. Income tax 2012 forms Enter your includible wages from the employer maintaining your 403(b) account for your most recent year of service 1. Income tax 2012 forms $66,000 2. Income tax 2012 forms Enter elective deferrals excluded from your gross income for your most recent year of service2 2. Income tax 2012 forms 4,4753 3. Income tax 2012 forms Enter amounts contributed or deferred by your employer under a cafeteria plan for your most recent year of service 3. Income tax 2012 forms -0- 4. Income tax 2012 forms Enter amounts contributed or deferred by your employer according to your election to your 457 account (a nonqualified plan of a state or local government, or of a tax-exempt organization) for your most recent year of service 4. Income tax 2012 forms -0- 5. Income tax 2012 forms Enter pre-tax contributions (employer's contributions made on your behalf according to your election) to a qualified transportation fringe benefit plan for your most recent year of service 5. Income tax 2012 forms -0- 6. Income tax 2012 forms Enter your foreign earned income exclusion for your most recent year of service 6. Income tax 2012 forms -0- 7. Income tax 2012 forms Add lines 1, 2, 3, 4, 5, and 6 7. Income tax 2012 forms 70,475 8. Income tax 2012 forms Enter the cost of incidental life insurance that is part of your annuity contract for your most recent year of service 8. Income tax 2012 forms -0- 9. Income tax 2012 forms Enter compensation that was both: Earned during your most recent year of service, and Earned while your employer was not qualified to maintain a 403(b) plan 9. Income tax 2012 forms -0- 10. Income tax 2012 forms Add lines 8 and 9 10. Income tax 2012 forms -0- 11. Income tax 2012 forms Subtract line 10 from line 7. Income tax 2012 forms This is your includible compensation for your most recent year of service 11. Income tax 2012 forms 70,475 1Use estimated amounts if figuring includible compensation before the end of the year. Income tax 2012 forms 2Elective deferrals made to a designated Roth account are not excluded from your gross income and should not be included on this line. Income tax 2012 forms  3$4,475 ($2,000 + $1,650 + $825). Income tax 2012 forms Prev  Up  Next   Home   More Online Publications

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The Income Tax 2012 Forms

Income tax 2012 forms Publication 557 - Introductory Material Table of Contents What's New Reminders Introduction What's New Proposed regulations on “good faith determinations”. Income tax 2012 forms  Proposed regulations modify standards for making a good faith determination that a foreign organization is a charitable organization, grants to which may be qualifying distributions and not taxable expenditures. Income tax 2012 forms The proposed regulations identify a broader class of tax practitioners upon whose written advice a private foundation may base a “good faith determination. Income tax 2012 forms ” See, Proposed Regulations: Reliance Standards for Making Good Faith Determinations, REG-134974-12, 2012-47 I. Income tax 2012 forms R. Income tax 2012 forms B. Income tax 2012 forms 553. Income tax 2012 forms Prop. Income tax 2012 forms Regs. Income tax 2012 forms on Good Faith Determinations. Income tax 2012 forms New Requirements for section 501(c)(3) Hospitals Under the Affordable Care Act. Income tax 2012 forms  The Affordable Care Act (ACA), enacted March 23, 2010, added new requirements that hospital organizations must satisfy in order to be described in section 501(c)(3), as well as new reporting requirements and excise taxes. Income tax 2012 forms On June 22, 2012, the Service issued a notice of proposed rulemaking that addresses the new requirements enacted by the ACA applicable to section 501(c)(3) hospital organizations. Income tax 2012 forms See, Proposed Regulations: Additional Requirements for Charitable Hospitals, REG-13026-11, 77 Fed. Income tax 2012 forms Reg. Income tax 2012 forms 38148. Income tax 2012 forms On April 3, 2013, the Service issued proposed regulations on the ACA's community health needs assessment (CHNA) requirements. Income tax 2012 forms The proposed regulations also discuss the related reporting and excise tax requirements for charitable hospitals and the consequences for failure to satisfy the section 501(r) requirements. Income tax 2012 forms See, Proposed Regulations: Community Health Needs Assessments for Charitable Hospitals, REG-106499-12, 78 Fed. Income tax 2012 forms Reg. Income tax 2012 forms 20,523. Income tax 2012 forms Timing of when an Organization is exempt for Federal Tax Purposes. Income tax 2012 forms  As noted in section 2. Income tax 2012 forms 03(4) of Revenue Procedure 2013-9, 2013-2 I. Income tax 2012 forms R. Income tax 2012 forms B. Income tax 2012 forms 267, the provisions in section 11. Income tax 2012 forms 01 regarding the effect of determination letters or rulings recognizing exempt status of organizations described in section 501(c), other than sections 501(c)(3), (9), (17), and (29), have been revised. Income tax 2012 forms Prior to this year, and back to 1962, when such organizations applied for recognition, the IRS would usually recognize the organizations as tax exempt from the date of formation, no matter how long the interval between the date of formation and the date of application. Income tax 2012 forms In addition to the practical difficulties of ascertaining an organization's purposes and activities for this period, such recognition is now potentially inconsistent with the provisions of section 6033(j), which automatically revokes the exempt status of an organization that fails to file required Form 990 series returns or notices for three consecutive years. Income tax 2012 forms The new procedure adopts a practice similar to the rule for section 501(c)(3) organizations for these organizations, generally permitting recognition from the date of formation if the organization has: always met the requirements for exemption, has applied within 27 months from the end of the month in which it was organized, and has not failed to file required Form 990 series returns or notices for three consecutive years. Income tax 2012 forms Section 11. Income tax 2012 forms 01(3) notes: an organization that otherwise meets the requirements for tax-exempt status and the issuance of a determination letter or ruling that does not meet the requirements for recognition from date of formation will generally be recognized from the postmark date of its application. Income tax 2012 forms Exempt Organizations Select Check. Income tax 2012 forms  The IRS has developed an on-line search tool, Exempt Organizations Select Check, that allows users to select an exempt organization and check certain information about its federal tax status and filings. Income tax 2012 forms It consolidates three former search sites into one, providing expanded search capability and a more efficient way to search for organizations that: Are eligible to receive tax-deductible charitable contributions (Publication 78 data). Income tax 2012 forms Users may rely on this list in determining deductibility of contributions, just as they did when Publication 78 was a separate electronic publication rather than part of Select Check. Income tax 2012 forms Have had their tax-exempt status automatically revoked under the law because they have not filed Form 990 series returns or notices annually as required for three consecutive years (Auto-Revocation List). Income tax 2012 forms Have filed a Form 990-N (e-Postcard) annual electronic notice. Income tax 2012 forms  In addition to searching for a particular organization, users may download a complete list of each of the three types of organizations through Exempt Organizations Select Check. Income tax 2012 forms See also Revenue Procedure 2011-33, 2011-25 I. Income tax 2012 forms R. Income tax 2012 forms B. Income tax 2012 forms 887. Income tax 2012 forms Future developments. Income tax 2012 forms . Income tax 2012 forms  The IRS has created a page on IRS. Income tax 2012 forms gov for information about Publication 557, at www. Income tax 2012 forms irs. Income tax 2012 forms gov/pub557. Income tax 2012 forms Information about any future developments affecting Publication 557 (such as legislation enacted after we release it) will be posted on that page. Income tax 2012 forms Reminders The Patient Protection and Affordable Care Act (ACA). Income tax 2012 forms   The ACA added several new laws. Income tax 2012 forms This includes a new excise tax on indoor tanning services, a small business health care tax credit, additional requirements for tax-exempt hospitals, and the section 501(c)(29) CO-OP program. Income tax 2012 forms For more information, go to IRS. Income tax 2012 forms gov and select Affordable Care Act Tax Provisions. Income tax 2012 forms Electronic filing requirement for large organizations. Income tax 2012 forms  For tax years ending on or after December 31, 2006, only organizations that file 250 returns during the calendar year and that have total assets of $10 million or more are required to file Form 990 electronically. Income tax 2012 forms For more information, go to e-file for Charities and Non-Profits. Income tax 2012 forms Section 501(c)(15) gross receipts. Income tax 2012 forms   The definition of gross receipts for purposes of determining whether small insurance companies qualify as tax-exempt under section 501(c)(15) has changed. Income tax 2012 forms See Notice 2006-42, 2006-19 I. Income tax 2012 forms R. Income tax 2012 forms B. Income tax 2012 forms 878, Notice 2006-42. Income tax 2012 forms Prohibited tax shelter transactions. Income tax 2012 forms  New excise taxes are imposed under section 4965 on certain tax-exempt organizations entering into prohibited tax shelter transactions. Income tax 2012 forms See T. Income tax 2012 forms D. Income tax 2012 forms 9492, Excise Taxes on Prohibited Tax Shelter Transactions and Related Disclosure Requirements, 2010-33 I. Income tax 2012 forms R. Income tax 2012 forms B. Income tax 2012 forms 242. Income tax 2012 forms See IRS Issues Final Regulations Regarding Excise Taxes on Prohibited Tax Shelter Transactions and Related Disclosure Requirement. Income tax 2012 forms Pension Protection Act of 2006 tax changes. Income tax 2012 forms  The Pension Protection Act of 2006 made numerous changes to the tax law provisions affecting tax-exempt organizations. Income tax 2012 forms Unless otherwise noted, most of the changes became effective on August 17, 2006. Income tax 2012 forms For key provisions, go to The Pension Protection Act of 2006. Income tax 2012 forms Section 501(c)(3) organizations must make their Form 990-T, Exempt Organization Business Tax Return (and proxy tax under section 6033(e)), open for public inspection for a period of 3 years from the date the Form 990-T is required to be filed (determined with regard to any extension of time for filing) or is actually filed, whichever is later. Income tax 2012 forms There is an increase in excise taxes relating to public charities, social welfare organizations, and private foundations. Income tax 2012 forms There are additional standards for credit counseling organizations. Income tax 2012 forms The definition of convention or association of churches has been modified. Income tax 2012 forms Entities that are not required to file Form 990 or 990-EZ must file new Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ. Income tax 2012 forms The requirements of disclosure to state officials relating to exempt organizations has been modified. Income tax 2012 forms There are excise taxes imposed on excess benefit transactions involving donor advised funds and sponsoring organizations. Income tax 2012 forms There are new excise taxes on prohibited tax shelter transactions. Income tax 2012 forms There is a modification of recordkeeping requirements for certain charitable contributions. Income tax 2012 forms Introduction This publication discusses the rules and procedures for organizations that seek recognition of exemption from federal income tax under section 501(a) of the Internal Revenue Code (the Code). Income tax 2012 forms It explains the procedures you must follow to obtain an appropriate ruling or determination letter recognizing your organization's exemption, as well as certain other information that applies generally to all exempt organizations. Income tax 2012 forms To qualify for exemption under the Code, your organization must be organized for one or more of the purposes specifically designated in the Code. Income tax 2012 forms Organizations that are exempt under section 501(a) include those organizations described in section 501(c). Income tax 2012 forms Section 501(c) organizations are covered in this publication. Income tax 2012 forms Chapter 1, Application, Approval, and Appeal Procedures, provides general information about the procedures for obtaining recognition of tax-exempt status. Income tax 2012 forms Chapter 2, Filing Requirements and Required Disclosures, contains information about annual filing requirements and other matters that may affect your organization's tax-exempt status. Income tax 2012 forms Chapter 3, Section 501(c)(3) Organizations, contains detailed information on various matters affecting section 501(c)(3) organizations, including a section on the determination of private foundation status. Income tax 2012 forms Chapter 4, Other Section 501(c) Organizations, includes separate sections for specific types of organizations described in section 501(c). Income tax 2012 forms Chapter 5, Excise Taxes, provides information on when excise taxes may be imposed. Income tax 2012 forms Organizations not discussed in this publication. Income tax 2012 forms   Certain organizations that may qualify for exemption are not discussed in this publication, although they are included in the Organization Reference Chart. Income tax 2012 forms These organizations (and the Code sections that apply to them) are as follows. Income tax 2012 forms Corporations organized under Acts of Congress 501(c)(1) Teachers' retirement fund associations 501(c)(11) Mutual insurance companies 501(c)(15) Corporations organized to finance crop operations 501(c)(16) Employee funded pension trusts (created before June 25, 1959) 501(c)(18) Withdrawal liability payment fund 501(c)(22) Veterans' organizations (created before 1880) 501(c)(23) National Railroad Retirement Investment Trust 501(c)(28) Religious and apostolic associations 501(d) Cooperative hospital service organizations 501(e) Cooperative service organizations of operating educational organizations 501(f)   Section 501(c)(24) organizations (section 4049 ERISA trusts) are neither discussed in the text nor listed in the Organization Reference Chart. Income tax 2012 forms   Similarly, farmers' cooperative associations that qualify for exemption under section 521, qualified state tuition programs described in section 529, and pension, profit-sharing, and stock bonus plans described in section 401(a) are not discussed in this publication. Income tax 2012 forms If you think your organization falls within one of these categories, contact the IRS for any additional information you need. Income tax 2012 forms For telephone assistance, call 1-877-829-5500. Income tax 2012 forms   Check the Table of Contents at the beginning of this publication to determine whether your organization is described in this publication. Income tax 2012 forms If it is, read the chapter (or section) that applies to your type of organization for the specific information you must give when applying for recognition of exemption. Income tax 2012 forms Organization Reference Chart. Income tax 2012 forms   The Organization Reference Chart enables you to locate at a glance the section of the Code under which your organization might qualify for exemption. Income tax 2012 forms It also shows the required application form and, if your organization meets the exemption requirements, the annual return to be filed (if any), and whether or not a contribution to your organization will be deductible by a donor. Income tax 2012 forms It also describes each type of qualifying organization and the general nature of its activities. Income tax 2012 forms   You may use the Organization Reference Chart to determine the Code section that you think applies to your organization. Income tax 2012 forms Any correspondence with the IRS (in requesting forms or otherwise) will be expedited if you indicate in your correspondence the appropriate Code section. Income tax 2012 forms Check the IRS website, IRS. Income tax 2012 forms gov, for the latest updates, Tax Information for Charities & Other Non-Profits, www. Income tax 2012 forms irs. Income tax 2012 forms gov/charities/index. Income tax 2012 forms html. Income tax 2012 forms Comments and suggestions. Income tax 2012 forms   We welcome your comments about this publication and your suggestions for future editions. Income tax 2012 forms   You can e-mail us while visiting our website at IRS. Income tax 2012 forms gov. Income tax 2012 forms   You can send your comments to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Income tax 2012 forms NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Income tax 2012 forms Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Income tax 2012 forms   If you wish telephone assistance, please call 1-877-829-5500. 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