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Irs 1040x Form Instructions

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Irs 1040x Form Instructions

Irs 1040x form instructions 4. Irs 1040x form instructions   Tax Withholding and Estimated Tax Table of Contents What's New for 2014 Reminders Introduction Useful Items - You may want to see: Tax Withholding for 2014Salaries and Wages Tips Taxable Fringe Benefits Sick Pay Pensions and Annuities Gambling Winnings Unemployment Compensation Federal Payments Backup Withholding Estimated Tax for 2014Who Does Not Have To Pay Estimated Tax Who Must Pay Estimated Tax How To Figure Estimated Tax When To Pay Estimated Tax How To Figure Each Payment How To Pay Estimated Tax Credit for Withholding and Estimated Tax for 2013Withholding Estimated Tax Underpayment Penalty for 2013 What's New for 2014 Tax law changes for 2014. Irs 1040x form instructions  When you figure how much income tax you want withheld from your pay and when you figure your estimated tax, consider tax law changes effective in 2014. Irs 1040x form instructions For more information, see Publication 505. Irs 1040x form instructions Reminders Estimated tax safe harbor for higher income taxpayers. Irs 1040x form instructions  If your 2013 adjusted gross income was more than $150,000 ($75,000 if you are married filing a separate return), you must pay the smaller of 90% of your expected tax for 2014 or 110% of the tax shown on your 2013 return to avoid an estimated tax penalty. Irs 1040x form instructions Introduction This chapter discusses how to pay your tax as you earn or receive income during the year. Irs 1040x form instructions In general, the federal income tax is a pay-as-you-go tax. Irs 1040x form instructions There are two ways to pay as you go. Irs 1040x form instructions Withholding. Irs 1040x form instructions If you are an employee, your employer probably withholds income tax from your pay. Irs 1040x form instructions Tax also may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. Irs 1040x form instructions The amount withheld is paid to the IRS in your name. Irs 1040x form instructions Estimated tax. Irs 1040x form instructions If you do not pay your tax through withholding, or do not pay enough tax that way, you may have to pay estimated tax. Irs 1040x form instructions People who are in business for themselves generally will have to pay their tax this way. Irs 1040x form instructions Also, you may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rent, and royalties. Irs 1040x form instructions Estimated tax is used to pay not only income tax, but self-employment tax and alternative minimum tax as well. Irs 1040x form instructions This chapter explains these methods. Irs 1040x form instructions In addition, it also explains the following. Irs 1040x form instructions Credit for withholding and estimated tax. Irs 1040x form instructions When you file your 2013 income tax return, take credit for all the income tax withheld from your salary, wages, pensions, etc. Irs 1040x form instructions , and for the estimated tax you paid for 2013. Irs 1040x form instructions Also take credit for any excess social security or railroad retirement tax withheld (discussed in chapter 37). Irs 1040x form instructions Underpayment penalty. Irs 1040x form instructions If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. Irs 1040x form instructions In most cases, the IRS can figure this penalty for you. Irs 1040x form instructions See Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) W-4 Employee's Withholding Allowance Certificate W-4P Withholding Certificate for Pension or Annuity Payments W-4S Request for Federal Income Tax Withholding From Sick Pay W-4V Voluntary Withholding Request 1040-ES Estimated Tax for Individuals 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen Tax Withholding for 2014 This section discusses income tax withholding on: Salaries and wages, Tips, Taxable fringe benefits, Sick pay, Pensions and annuities, Gambling winnings, Unemployment compensation, and Certain federal payments. Irs 1040x form instructions This section explains the rules for withholding tax from each of these types of income. Irs 1040x form instructions This section also covers backup withholding on interest, dividends, and other payments. Irs 1040x form instructions Salaries and Wages Income tax is withheld from the pay of most employees. Irs 1040x form instructions Your pay includes your regular pay, bonuses, commissions, and vacation allowances. Irs 1040x form instructions It also includes reimbursements and other expense allowances paid under a nonaccountable plan. Irs 1040x form instructions See Supplemental Wages , later, for more information about reimbursements and allowances paid under a nonaccountable plan. Irs 1040x form instructions If your income is low enough that you will not have to pay income tax for the year, you may be exempt from withholding. Irs 1040x form instructions This is explained under Exemption From Withholding , later. Irs 1040x form instructions You can ask your employer to withhold income tax from noncash wages and other wages not subject to withholding. Irs 1040x form instructions If your employer does not agree to withhold tax, or if not enough is withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Irs 1040x form instructions Military retirees. Irs 1040x form instructions   Military retirement pay is treated in the same manner as regular pay for income tax withholding purposes, even though it is treated as a pension or annuity for other tax purposes. Irs 1040x form instructions Household workers. Irs 1040x form instructions   If you are a household worker, you can ask your employer to withhold income tax from your pay. Irs 1040x form instructions A household worker is an employee who performs household work in a private home, local college club, or local fraternity or sorority chapter. Irs 1040x form instructions   Tax is withheld only if you want it withheld and your employer agrees to withhold it. Irs 1040x form instructions If you do not have enough income tax withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Irs 1040x form instructions Farmworkers. Irs 1040x form instructions   Generally, income tax is withheld from your cash wages for work on a farm unless your employer does both of these: Pays you cash wages of less than $150 during the year, and Has expenditures for agricultural labor totaling less than $2,500 during the year. Irs 1040x form instructions Differential wage payments. Irs 1040x form instructions    When employees are on leave from employment for military duty, some employers make up the difference between the military pay and civilian pay. Irs 1040x form instructions Payments to an employee who is on active duty for a period of more than 30 days will be subject to income tax withholding, but not subject to social security or Medicare taxes. Irs 1040x form instructions The wages and withholding will be reported on Form W-2, Wage and Tax Statement. Irs 1040x form instructions   The credit employers can claim for differential wages paid to activated military reservists is scheduled to expire for wages paid after December 31, 2013. Irs 1040x form instructions Determining Amount of Tax Withheld Using Form W-4 The amount of income tax your employer withholds from your regular pay depends on two things. Irs 1040x form instructions The amount you earn in each payroll period. Irs 1040x form instructions The information you give your employer on Form W-4. Irs 1040x form instructions Form W-4 includes four types of information that your employer will use to figure your withholding. Irs 1040x form instructions Whether to withhold at the single rate or at the lower married rate. Irs 1040x form instructions How many withholding allowances you claim (each allowance reduces the amount withheld). Irs 1040x form instructions Whether you want an additional amount withheld. Irs 1040x form instructions Whether you are claiming an exemption from withholding in 2014. Irs 1040x form instructions See Exemption From Withholding , later. Irs 1040x form instructions Note. Irs 1040x form instructions You must specify a filing status and a number of withholding allowances on Form W-4. Irs 1040x form instructions You cannot specify only a dollar amount of withholding. Irs 1040x form instructions New Job When you start a new job, you must fill out Form W-4 and give it to your employer. Irs 1040x form instructions Your employer should have copies of the form. Irs 1040x form instructions If you need to change the information later, you must fill out a new form. Irs 1040x form instructions If you work only part of the year (for example, you start working after the beginning of the year), too much tax may be withheld. Irs 1040x form instructions You may be able to avoid overwithholding if your employer agrees to use the part-year method. Irs 1040x form instructions See Part-Year Method in chapter 1 of Publication 505 for more information. Irs 1040x form instructions Employee also receiving pension income. Irs 1040x form instructions   If you receive pension or annuity income and begin a new job, you will need to file Form W-4 with your new employer. Irs 1040x form instructions However, you can choose to split your withholding allowances between your pension and job in any manner. Irs 1040x form instructions Changing Your Withholding During the year changes may occur to your marital status, exemptions, adjustments, deductions, or credits you expect to claim on your tax return. Irs 1040x form instructions When this happens, you may need to give your employer a new Form W-4 to change your withholding status or your number of allowances. Irs 1040x form instructions If the changes reduce the number of allowances you are claiming or changes your marital status from married to single, you must give your employer a new Form W-4 within 10 days. Irs 1040x form instructions Generally, you can submit a new Form W-4 whenever you wish to change the number of your withholding allowances for any other reason. Irs 1040x form instructions Changing your withholding for 2015. Irs 1040x form instructions   If events in 2014 will decrease the number of your withholding allowances for 2015, you must give your employer a new Form W-4 by December 1, 2014. Irs 1040x form instructions If the event occurs in December 2014, submit a new Form W-4 within 10 days. Irs 1040x form instructions Checking Your Withholding After you have given your employer a Form W-4, you can check to see whether the amount of tax withheld from your pay is too little or too much. Irs 1040x form instructions If too much or too little tax is being withheld, you should give your employer a new Form W-4 to change your withholding. Irs 1040x form instructions You should try to have your withholding match your actual tax liability. Irs 1040x form instructions If not enough tax is withheld, you will owe tax at the end of the year and may have to pay interest and a penalty. Irs 1040x form instructions If too much tax is withheld, you will lose the use of that money until you get your refund. Irs 1040x form instructions Always check your withholding if there are personal or financial changes in your life or changes in the law that might change your tax liability. Irs 1040x form instructions Note. Irs 1040x form instructions You cannot give your employer a payment to cover withholding on salaries and wages for past pay periods or a payment for estimated tax. Irs 1040x form instructions Completing Form W-4 and Worksheets Form W-4 has worksheets to help you figure how many withholding allowances you can claim. Irs 1040x form instructions The worksheets are for your own records. Irs 1040x form instructions Do not give them to your employer. Irs 1040x form instructions Multiple jobs. Irs 1040x form instructions   If you have income from more than one job at the same time, complete only one set of Form W-4 worksheets. Irs 1040x form instructions Then split your allowances between the Forms W-4 for each job. Irs 1040x form instructions You cannot claim the same allowances with more than one employer at the same time. Irs 1040x form instructions You can claim all your allowances with one employer and none with the other(s), or divide them any other way. Irs 1040x form instructions Married individuals. Irs 1040x form instructions   If both you and your spouse are employed and expect to file a joint return, figure your withholding allowances using your combined income, adjustments, deductions, exemptions, and credits. Irs 1040x form instructions Use only one set of worksheets. Irs 1040x form instructions You can divide your total allowances any way, but you cannot claim an allowance that your spouse also claims. Irs 1040x form instructions   If you and your spouse expect to file separate returns, figure your allowances using separate worksheets based on your own individual income, adjustments, deductions, exemptions, and credits. Irs 1040x form instructions Alternative method of figuring withholding allowances. Irs 1040x form instructions   You do not have to use the Form W-4 worksheets if you use a more accurate method of figuring the number of withholding allowances. Irs 1040x form instructions For more information, see Alternative method of figuring withholding allowances under Completing Form W-4 and Worksheets in Publication 505, chapter 1. Irs 1040x form instructions Personal Allowances Worksheet. Irs 1040x form instructions   Use the Personal Allowances Worksheet on Form W-4 to figure your withholding allowances based on exemptions and any special allowances that apply. Irs 1040x form instructions Deduction and Adjustments Worksheet. Irs 1040x form instructions   Use the Deduction and Adjustments Worksheet on Form W-4 if you plan to itemize your deductions, claim certain credits, or claim adjustments to the income on your 2014 tax return and you want to reduce your withholding. Irs 1040x form instructions Also, complete this worksheet when you have changes to these items to see if you need to change your withholding. Irs 1040x form instructions Two-Earners/Multiple Jobs Worksheet. Irs 1040x form instructions   You may need to complete the Two-Earners/Multiple Jobs Worksheet on Form W-4 if you have more than one job, a working spouse, or are also receiving a pension. Irs 1040x form instructions Also, on this worksheet you can add any additional withholding necessary to cover any amount you expect to owe other than income tax, such as self-employment tax. Irs 1040x form instructions Getting the Right Amount of Tax Withheld In most situations, the tax withheld from your pay will be close to the tax you figure on your return if you follow these two rules. Irs 1040x form instructions You accurately complete all the Form W-4 worksheets that apply to you. Irs 1040x form instructions You give your employer a new Form W-4 when changes occur. Irs 1040x form instructions But because the worksheets and withholding methods do not account for all possible situations, you may not be getting the right amount withheld. Irs 1040x form instructions This is most likely to happen in the following situations. Irs 1040x form instructions You are married and both you and your spouse work. Irs 1040x form instructions You have more than one job at a time. Irs 1040x form instructions You have nonwage income, such as interest, dividends, alimony, unemployment compensation, or self-employment income. Irs 1040x form instructions You will owe additional amounts with your return, such as self-employment tax. Irs 1040x form instructions Your withholding is based on obsolete Form W-4 information for a substantial part of the year. Irs 1040x form instructions Your earnings are more than the amount shown under Check your withholding in the instructions at the top of page 1 of Form W-4. Irs 1040x form instructions You work only part of the year. Irs 1040x form instructions You change the number of your withholding allowances during the year. Irs 1040x form instructions Cumulative wage method. Irs 1040x form instructions   If you change the number of your withholding allowances during the year, too much or too little tax may have been withheld for the period before you made the change. Irs 1040x form instructions You may be able to compensate for this if your employer agrees to use the cumulative wage withholding method for the rest of the year. Irs 1040x form instructions You must ask your employer in writing to use this method. Irs 1040x form instructions   To be eligible, you must have been paid for the same kind of payroll period (weekly, biweekly, etc. Irs 1040x form instructions ) since the beginning of the year. Irs 1040x form instructions Publication 505 To make sure you are getting the right amount of tax withheld, get Publication 505. Irs 1040x form instructions It will help you compare the total tax to be withheld during the year with the tax you can expect to figure on your return. Irs 1040x form instructions It also will help you determine how much, if any, additional withholding is needed each payday to avoid owing tax when you file your return. Irs 1040x form instructions If you do not have enough tax withheld, you may have to pay estimated tax, as explained under Estimated Tax for 2014 , later. Irs 1040x form instructions You can use the IRS Withholding Calculator at www. Irs 1040x form instructions irs. Irs 1040x form instructions gov/Individuals, instead of Publication 505 or the worksheets included with Form W-4, to determine whether you need to have your withholding increased or decreased. Irs 1040x form instructions Rules Your Employer Must Follow It may be helpful for you to know some of the withholding rules your employer must follow. Irs 1040x form instructions These rules can affect how to fill out your Form W-4 and how to handle problems that may arise. Irs 1040x form instructions New Form W-4. Irs 1040x form instructions   When you start a new job, your employer should have you complete a Form W-4. Irs 1040x form instructions Beginning with your first payday, your employer will use the information you give on the form to figure your withholding. Irs 1040x form instructions   If you later fill out a new Form W-4, your employer can put it into effect as soon as possible. Irs 1040x form instructions The deadline for putting it into effect is the start of the first payroll period ending 30 or more days after you turn it in. Irs 1040x form instructions No Form W-4. Irs 1040x form instructions   If you do not give your employer a completed Form W-4, your employer must withhold at the highest rate, as if you were single and claimed no withholding allowances. Irs 1040x form instructions Repaying withheld tax. Irs 1040x form instructions   If you find you are having too much tax withheld because you did not claim all the withholding allowances you are entitled to, you should give your employer a new Form W-4. Irs 1040x form instructions Your employer cannot repay any of the tax previously withheld. Irs 1040x form instructions Instead, claim the full amount withheld when you file your tax return. Irs 1040x form instructions   However, if your employer has withheld more than the correct amount of tax for the Form W-4 you have in effect, you do not have to fill out a new Form W-4 to have your withholding lowered to the correct amount. Irs 1040x form instructions Your employer can repay the amount that was withheld incorrectly. Irs 1040x form instructions If you are not repaid, your Form W-2 will reflect the full amount actually withheld, which you would claim when you file your tax return. Irs 1040x form instructions Exemption From Withholding If you claim exemption from withholding, your employer will not withhold federal income tax from your wages. Irs 1040x form instructions The exemption applies only to income tax, not to social security or Medicare tax. Irs 1040x form instructions You can claim exemption from withholding for 2014 only if both of the following situations apply. Irs 1040x form instructions For 2013 you had a right to a refund of all federal income tax withheld because you had no tax liability. Irs 1040x form instructions For 2014 you expect a refund of all federal income tax withheld because you expect to have no tax liability. Irs 1040x form instructions Students. Irs 1040x form instructions   If you are a student, you are not automatically exempt. Irs 1040x form instructions See chapter 1 to find out if you must file a return. Irs 1040x form instructions If you work only part time or only during the summer, you may qualify for exemption from withholding. Irs 1040x form instructions Age 65 or older or blind. Irs 1040x form instructions   If you are 65 or older or blind, use Worksheet 1-3 or 1-4 in chapter 1 of Publication 505, to help you decide if you qualify for exemption from withholding. Irs 1040x form instructions Do not use either worksheet if you will itemize deductions, claim exemptions for dependents, or claim tax credits on your 2014 return. Irs 1040x form instructions Instead, see Itemizing deductions or claiming exemptions or credits in chapter 1 of Publication 505. Irs 1040x form instructions Claiming exemption from withholding. Irs 1040x form instructions   To claim exemption, you must give your employer a Form W-4. Irs 1040x form instructions Do not complete lines 5 and 6. Irs 1040x form instructions Enter “Exempt” on line 7. Irs 1040x form instructions   If you claim exemption, but later your situation changes so that you will have to pay income tax after all, you must file a new Form W-4 within 10 days after the change. Irs 1040x form instructions If you claim exemption in 2014, but you expect to owe income tax for 2015, you must file a new Form W-4 by December 1, 2014. Irs 1040x form instructions   Your claim of exempt status may be reviewed by the IRS. Irs 1040x form instructions An exemption is good for only 1 year. Irs 1040x form instructions   You must give your employer a new Form W-4 by February 15 each year to continue your exemption. Irs 1040x form instructions Supplemental Wages Supplemental wages include bonuses, commissions, overtime pay, vacation allowances, certain sick pay, and expense allowances under certain plans. Irs 1040x form instructions The payer can figure withholding on supplemental wages using the same method used for your regular wages. Irs 1040x form instructions However, if these payments are identified separately from your regular wages, your employer or other payer of supplemental wages can withhold income tax from these wages at a flat rate. Irs 1040x form instructions Expense allowances. Irs 1040x form instructions   Reimbursements or other expense allowances paid by your employer under a nonaccountable plan are treated as supplemental wages. Irs 1040x form instructions   Reimbursements or other expense allowances paid under an accountable plan that are more than your proven expenses are treated as paid under a nonaccountable plan if you do not return the excess payments within a reasonable period of time. Irs 1040x form instructions   For more information about accountable and nonaccountable expense allowance plans, see Reimbursements in chapter 26. Irs 1040x form instructions Penalties You may have to pay a penalty of $500 if both of the following apply. Irs 1040x form instructions You make statements or claim withholding allowances on your Form W-4 that reduce the amount of tax withheld. Irs 1040x form instructions You have no reasonable basis for those statements or allowances at the time you prepare your Form W-4. Irs 1040x form instructions There is also a criminal penalty for willfully supplying false or fraudulent information on your Form W-4 or for willfully failing to supply information that would increase the amount withheld. Irs 1040x form instructions The penalty upon conviction can be either a fine of up to $1,000 or imprisonment for up to 1 year, or both. Irs 1040x form instructions These penalties will apply if you deliberately and knowingly falsify your Form W-4 in an attempt to reduce or eliminate the proper withholding of taxes. Irs 1040x form instructions A simple error or an honest mistake will not result in one of these penalties. Irs 1040x form instructions For example, a person who has tried to figure the number of withholding allowances correctly, but claims seven when the proper number is six, will not be charged a W-4 penalty. Irs 1040x form instructions Tips The tips you receive while working on your job are considered part of your pay. Irs 1040x form instructions You must include your tips on your tax return on the same line as your regular pay. Irs 1040x form instructions However, tax is not withheld directly from tip income, as it is from your regular pay. Irs 1040x form instructions Nevertheless, your employer will take into account the tips you report when figuring how much to withhold from your regular pay. Irs 1040x form instructions See chapter 6 for information on reporting your tips to your employer. Irs 1040x form instructions For more information on the withholding rules for tip income, see Publication 531, Reporting Tip Income. Irs 1040x form instructions How employer figures amount to withhold. Irs 1040x form instructions   The tips you report to your employer are counted as part of your income for the month you report them. Irs 1040x form instructions Your employer can figure your withholding in either of two ways. Irs 1040x form instructions By withholding at the regular rate on the sum of your pay plus your reported tips. Irs 1040x form instructions By withholding at the regular rate on your pay plus a percentage of your reported tips. Irs 1040x form instructions Not enough pay to cover taxes. Irs 1040x form instructions   If your regular pay is not enough for your employer to withhold all the tax (including income tax and social security and Medicare taxes (or the equivalent railroad retirement tax)) due on your pay plus your tips, you can give your employer money to cover the shortage. Irs 1040x form instructions See Giving your employer money for taxes in chapter 6. Irs 1040x form instructions Allocated tips. Irs 1040x form instructions   Your employer should not withhold income tax, Medicare tax, social security tax, or railroad retirement tax on any allocated tips. Irs 1040x form instructions Withholding is based only on your pay plus your reported tips. Irs 1040x form instructions Your employer should refund to you any incorrectly withheld tax. Irs 1040x form instructions See Allocated Tips in chapter 6 for more information. Irs 1040x form instructions Taxable Fringe Benefits The value of certain noncash fringe benefits you receive from your employer is considered part of your pay. Irs 1040x form instructions Your employer generally must withhold income tax on these benefits from your regular pay. Irs 1040x form instructions For information on fringe benefits, see Fringe Benefits under Employee Compensation in chapter 5. Irs 1040x form instructions Although the value of your personal use of an employer-provided car, truck, or other highway motor vehicle is taxable, your employer can choose not to withhold income tax on that amount. Irs 1040x form instructions Your employer must notify you if this choice is made. Irs 1040x form instructions For more information on withholding on taxable fringe benefits, see chapter 1 of Publication 505. Irs 1040x form instructions Sick Pay Sick pay is a payment to you to replace your regular wages while you are temporarily absent from work due to sickness or personal injury. Irs 1040x form instructions To qualify as sick pay, it must be paid under a plan to which your employer is a party. Irs 1040x form instructions If you receive sick pay from your employer or an agent of your employer, income tax must be withheld. Irs 1040x form instructions An agent who does not pay regular wages to you may choose to withhold income tax at a flat rate. Irs 1040x form instructions However, if you receive sick pay from a third party who is not acting as an agent of your employer, income tax will be withheld only if you choose to have it withheld. Irs 1040x form instructions See Form W-4S , later. Irs 1040x form instructions If you receive payments under a plan in which your employer does not participate (such as an accident or health plan where you paid all the premiums), the payments are not sick pay and usually are not taxable. Irs 1040x form instructions Union agreements. Irs 1040x form instructions   If you receive sick pay under a collective bargaining agreement between your union and your employer, the agreement may determine the amount of income tax withholding. Irs 1040x form instructions See your union representative or your employer for more information. Irs 1040x form instructions Form W-4S. Irs 1040x form instructions   If you choose to have income tax withheld from sick pay paid by a third party, such as an insurance company, you must fill out Form W-4S. Irs 1040x form instructions Its instructions contain a worksheet you can use to figure the amount you want withheld. Irs 1040x form instructions They also explain restrictions that may apply. Irs 1040x form instructions   Give the completed form to the payer of your sick pay. Irs 1040x form instructions The payer must withhold according to your directions on the form. Irs 1040x form instructions Estimated tax. Irs 1040x form instructions   If you do not request withholding on Form W-4S, or if you do not have enough tax withheld, you may have to make estimated tax payments. Irs 1040x form instructions If you do not pay enough tax, either through estimated tax or withholding, or a combination of both, you may have to pay a penalty. Irs 1040x form instructions See Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions Pensions and Annuities Income tax usually will be withheld from your pension or annuity distributions unless you choose not to have it withheld. Irs 1040x form instructions This rule applies to distributions from: A traditional individual retirement arrangement (IRA); A life insurance company under an endowment, annuity, or life insurance contract; A pension, annuity, or profit-sharing plan; A stock bonus plan; and Any other plan that defers the time you receive compensation. Irs 1040x form instructions The amount withheld depends on whether you receive payments spread out over more than 1 year (periodic payments), within 1 year (nonperiodic payments), or as an eligible rollover distribution (ERD). Irs 1040x form instructions Income tax withholding from an ERD is mandatory. Irs 1040x form instructions More information. Irs 1040x form instructions   For more information on taxation of annuities and distributions (including ERDs) from qualified retirement plans, see chapter 10. Irs 1040x form instructions For information on IRAs, see chapter 17. Irs 1040x form instructions For more information on withholding on pensions and annuities, including a discussion of Form W-4P, see Pensions and Annuities in chapter 1 of Publication 505. Irs 1040x form instructions Gambling Winnings Income tax is withheld at a flat 25% rate from certain kinds of gambling winnings. Irs 1040x form instructions Gambling winnings of more than $5,000 from the following sources are subject to income tax withholding. Irs 1040x form instructions Any sweepstakes; wagering pool, including payments made to winners of poker tournaments; or lottery. Irs 1040x form instructions Any other wager, if the proceeds are at least 300 times the amount of the bet. Irs 1040x form instructions It does not matter whether your winnings are paid in cash, in property, or as an annuity. Irs 1040x form instructions Winnings not paid in cash are taken into account at their fair market value. Irs 1040x form instructions Exception. Irs 1040x form instructions   Gambling winnings from bingo, keno, and slot machines generally are not subject to income tax withholding. Irs 1040x form instructions However, you may need to provide the payer with a social security number to avoid withholding. Irs 1040x form instructions See Backup withholding on gambling winnings in chapter 1 of Publication 505. Irs 1040x form instructions If you receive gambling winnings not subject to withholding, you may need to pay estimated tax. Irs 1040x form instructions See Estimated Tax for 2014 , later. Irs 1040x form instructions If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs 1040x form instructions See Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions Form W-2G. Irs 1040x form instructions   If a payer withholds income tax from your gambling winnings, you should receive a Form W-2G, Certain Gambling Winnings, showing the amount you won and the amount withheld. Irs 1040x form instructions Report the tax withheld on line 62 of Form 1040. Irs 1040x form instructions Unemployment Compensation You can choose to have income tax withheld from unemployment compensation. Irs 1040x form instructions To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Irs 1040x form instructions All unemployment compensation is taxable. Irs 1040x form instructions So, if you do not have income tax withheld, you may have to pay estimated tax. Irs 1040x form instructions See Estimated Tax for 2014 , later. Irs 1040x form instructions If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs 1040x form instructions For information, see Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions Federal Payments You can choose to have income tax withheld from certain federal payments you receive. Irs 1040x form instructions These payments are: Social security benefits, Tier 1 railroad retirement benefits, Commodity credit corporation loans you choose to include in your gross income, Payments under the Agricultural Act of 1949 (7 U. Irs 1040x form instructions S. Irs 1040x form instructions C. Irs 1040x form instructions 1421 et. Irs 1040x form instructions seq. Irs 1040x form instructions ), as amended, or title II of the Disaster Assistance Act of 1988, that are treated as insurance proceeds and that you receive because: Your crops were destroyed or damaged by drought, flood, or any other natural disaster, or You were unable to plant crops because of a natural disaster described in (a), and Any other payment under Federal law as determined by the Secretary. Irs 1040x form instructions To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Irs 1040x form instructions If you do not choose to have income tax withheld, you may have to pay estimated tax. Irs 1040x form instructions See Estimated Tax for 2014 , later. Irs 1040x form instructions If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs 1040x form instructions For information, see Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions More information. Irs 1040x form instructions   For more information about the tax treatment of social security and railroad retirement benefits, see chapter 11. Irs 1040x form instructions Get Publication 225, Farmer's Tax Guide, for information about the tax treatment of commodity credit corporation loans or crop disaster payments. Irs 1040x form instructions Backup Withholding Banks or other businesses that pay you certain kinds of income must file an information return (Form 1099) with the IRS. Irs 1040x form instructions The information return shows how much you were paid during the year. Irs 1040x form instructions It also includes your name and taxpayer identification number (TIN). Irs 1040x form instructions TINs are explained in chapter 1 under Social Security Number (SSN) . Irs 1040x form instructions These payments generally are not subject to withholding. Irs 1040x form instructions However, “backup” withholding is required in certain situations. Irs 1040x form instructions Backup withholding can apply to most kinds of payments that are reported on Form 1099. Irs 1040x form instructions The payer must withhold at a flat 28% rate in the following situations. Irs 1040x form instructions You do not give the payer your TIN in the required manner. Irs 1040x form instructions The IRS notifies the payer that the TIN you gave is incorrect. Irs 1040x form instructions You are required, but fail, to certify that you are not subject to backup withholding. Irs 1040x form instructions The IRS notifies the payer to start withholding on interest or dividends because you have underreported interest or dividends on your income tax return. Irs 1040x form instructions The IRS will do this only after it has mailed you four notices over at least a 210-day period. Irs 1040x form instructions See Backup Withholding in chapter 1 of Publication 505 for more information. Irs 1040x form instructions Penalties. Irs 1040x form instructions   There are civil and criminal penalties for giving false information to avoid backup withholding. Irs 1040x form instructions The civil penalty is $500. Irs 1040x form instructions The criminal penalty, upon conviction, is a fine of up to $1,000 or imprisonment of up to 1 year, or both. Irs 1040x form instructions Estimated Tax for 2014 Estimated tax is the method used to pay tax on income that is not subject to withholding. Irs 1040x form instructions This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. Irs 1040x form instructions You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough. Irs 1040x form instructions Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. Irs 1040x form instructions If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Irs 1040x form instructions If you do not pay enough by the due date of each payment period (see When To Pay Estimated Tax , later), you may be charged a penalty even if you are due a refund when you file your tax return. Irs 1040x form instructions For information on when the penalty applies, see Underpayment Penalty for 2013 at the end of this chapter. Irs 1040x form instructions Who Does Not Have To Pay Estimated Tax If you receive salaries or wages, you can avoid having to pay estimated tax by asking your employer to take more tax out of your earnings. Irs 1040x form instructions To do this, give a new Form W-4 to your employer. Irs 1040x form instructions See chapter 1 of Publication 505. Irs 1040x form instructions Estimated tax not required. Irs 1040x form instructions   You do not have to pay estimated tax for 2014 if you meet all three of the following conditions. Irs 1040x form instructions You had no tax liability for 2013. Irs 1040x form instructions You were a U. Irs 1040x form instructions S. Irs 1040x form instructions citizen or resident alien for the whole year. Irs 1040x form instructions Your 2013 tax year covered a 12-month period. Irs 1040x form instructions   You had no tax liability for 2013 if your total tax was zero or you did not have to file an income tax return. Irs 1040x form instructions For the definition of “total tax” for 2013, see Publication 505, chapter 2. Irs 1040x form instructions Who Must Pay Estimated Tax If you owe additional tax for 2013, you may have to pay estimated tax for 2014. Irs 1040x form instructions You can use the following general rule as a guide during the year to see if you will have enough withholding, or if you should increase your withholding or make estimated tax payments. Irs 1040x form instructions General rule. Irs 1040x form instructions   In most cases, you must pay estimated tax for 2014 if both of the following apply. Irs 1040x form instructions You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. Irs 1040x form instructions You expect your withholding plus your refundable credits to be less than the smaller of: 90% of the tax to be shown on your 2014 tax return, or 100% of the tax shown on your 2013 tax return (but see Special rules for farmers, fishermen, and higher income taxpayers, later). Irs 1040x form instructions Your 2013 tax return must cover all 12 months. Irs 1040x form instructions    If the result from using the general rule above suggests that you will not have enough withholding, complete the 2014 Estimated Tax Worksheet in Publication 505 for a more accurate calculation. Irs 1040x form instructions Special rules for farmers, fishermen, and higher income taxpayers. Irs 1040x form instructions   If at least two-thirds of your gross income for tax year 2013 or 2014 is from farming or fishing, substitute 662/3% for 90% in (2a) under the General rule, earlier. Irs 1040x form instructions If your AGI for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing a separate return), substitute 110% for 100% in (2b) under General rule , earlier. Irs 1040x form instructions See Figure 4-A and Publication 505, chapter 2 for more information. Irs 1040x form instructions Figure 4-A. Irs 1040x form instructions Do You Have To Pay Estimated Tax? Please click here for the text description of the image. Irs 1040x form instructions Figure 4-A Do You Have To Pay Estimated Tax? Aliens. Irs 1040x form instructions   Resident and nonresident aliens also may have to pay estimated tax. Irs 1040x form instructions Resident aliens should follow the rules in this chapter unless noted otherwise. Irs 1040x form instructions Nonresident aliens should get Form 1040-ES (NR), U. Irs 1040x form instructions S. Irs 1040x form instructions Estimated Tax for Nonresident Alien Individuals. Irs 1040x form instructions   You are an alien if you are not a citizen or national of the United States. Irs 1040x form instructions You are a resident alien if you either have a green card or meet the substantial presence test. Irs 1040x form instructions For more information about the substantial presence test, see Publication 519, U. Irs 1040x form instructions S. Irs 1040x form instructions Tax Guide for Aliens. Irs 1040x form instructions Married taxpayers. Irs 1040x form instructions   If you qualify to make joint estimated tax payments, apply the rules discussed here to your joint estimated income. Irs 1040x form instructions   You and your spouse can make joint estimated tax payments even if you are not living together. Irs 1040x form instructions   However, you and your spouse cannot make joint estimated tax payments if:  You are legally separated under a decree of divorce or separate maintenance, You and your spouse have different tax years, or Either spouse is a nonresident alien (unless that spouse elected to be treated as a resident alien for tax purposes (see chapter 1 of Publication 519)). Irs 1040x form instructions   If you do not qualify to make joint estimated tax payments, apply these rules to your separate estimated income. Irs 1040x form instructions Making joint or separate estimated tax payments will not affect your choice of filing a joint tax return or separate returns for 2014. Irs 1040x form instructions 2013 separate returns and 2014 joint return. Irs 1040x form instructions   If you plan to file a joint return with your spouse for 2014, but you filed separate returns for 2013, your 2013 tax is the total of the tax shown on your separate returns. Irs 1040x form instructions You filed a separate return if you filed as single, head of household, or married filing separately. Irs 1040x form instructions 2013 joint return and 2014 separate returns. Irs 1040x form instructions   If you plan to file a separate return for 2014 but you filed a joint return for 2013, your 2013 tax is your share of the tax on the joint return. Irs 1040x form instructions You file a separate return if you file as single, head of household, or married filing separately. Irs 1040x form instructions   To figure your share of the tax on the joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2013 using the same filing status as for 2014. Irs 1040x form instructions Then multiply the tax on the joint return by the following fraction. Irs 1040x form instructions     The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Irs 1040x form instructions Joe and Heather filed a joint return for 2013 showing taxable income of $48,500 and a tax of $6,386. Irs 1040x form instructions Of the $48,500 taxable income, $40,100 was Joe's and the rest was Heather's. Irs 1040x form instructions For 2014, they plan to file married filing separately. Irs 1040x form instructions Joe figures his share of the tax on the 2013 joint return as follows. Irs 1040x form instructions   Tax on $40,100 based on a separate return $5,960     Tax on $8,400 based on a separate return 843     Total $6,803     Joe's percentage of total ($5,960 ÷ $6,803) 87. Irs 1040x form instructions 6%     Joe's share of tax on joint return  ($6,386 × 87. Irs 1040x form instructions 6%) $5,594   How To Figure Estimated Tax To figure your estimated tax, you must figure your expected adjusted gross income (AGI), taxable income, taxes, deductions, and credits for the year. Irs 1040x form instructions When figuring your 2014 estimated tax, it may be helpful to use your income, deductions, and credits for 2013 as a starting point. Irs 1040x form instructions Use your 2013 federal tax return as a guide. Irs 1040x form instructions You can use Form 1040-ES and Publication 505 to figure your estimated tax. Irs 1040x form instructions Nonresident aliens use Form 1040-ES (NR) and Publication 505 to figure estimated tax (see chapter 8 of Publication 519 for more information). Irs 1040x form instructions You must make adjustments both for changes in your own situation and for recent changes in the tax law. Irs 1040x form instructions For a discussion of these changes, visit IRS. Irs 1040x form instructions gov. Irs 1040x form instructions For more complete information on how to figure your estimated tax for 2014, see chapter 2 of Publication 505. Irs 1040x form instructions When To Pay Estimated Tax For estimated tax purposes, the tax year is divided into four payment periods. Irs 1040x form instructions Each period has a specific payment due date. Irs 1040x form instructions If you do not pay enough tax by the due date of each payment period, you may be charged a penalty even if you are due a refund when you file your income tax return. Irs 1040x form instructions The payment periods and due dates for estimated tax payments are shown next. Irs 1040x form instructions   For the period: Due date:*     Jan. Irs 1040x form instructions 1 – March 31 April 15     April 1 – May 31 June 16     June 1 – August 31 Sept. Irs 1040x form instructions 15     Sept. Irs 1040x form instructions 1– Dec. Irs 1040x form instructions 31 Jan. Irs 1040x form instructions 15, next year     *See Saturday, Sunday, holiday rule and January payment . Irs 1040x form instructions Saturday, Sunday, holiday rule. Irs 1040x form instructions   If the due date for an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday, or legal holiday. Irs 1040x form instructions January payment. Irs 1040x form instructions   If you file your 2014 Form 1040 or Form 1040A by January 31, 2015, and pay the rest of the tax you owe, you do not need to make the payment due on January 15, 2015. Irs 1040x form instructions Fiscal year taxpayers. Irs 1040x form instructions   If your tax year does not start on January 1, see the Form 1040-ES instructions for your payment due dates. Irs 1040x form instructions When To Start You do not have to make estimated tax payments until you have income on which you will owe income tax. Irs 1040x form instructions If you have income subject to estimated tax during the first payment period, you must make your first payment by the due date for the first payment period. Irs 1040x form instructions You can pay all your estimated tax at that time, or you can pay it in installments. Irs 1040x form instructions If you choose to pay in installments, make your first payment by the due date for the first payment period. Irs 1040x form instructions Make your remaining installment payments by the due dates for the later periods. Irs 1040x form instructions No income subject to estimated tax during first period. Irs 1040x form instructions    If you do not have income subject to estimated tax until a later payment period, you must make your first payment by the due date for that period. Irs 1040x form instructions You can pay your entire estimated tax by the due date for that period or you can pay it in installments by the due date for that period and the due dates for the remaining periods. Irs 1040x form instructions The following chart shows when to make installment payments. Irs 1040x form instructions If you first have income on which you must pay estimated tax: Make a payment  by:* Make later installments by:* Before April 1 April 15 June 16 Sept. Irs 1040x form instructions 15 Jan. Irs 1040x form instructions 15 next year April 1–May 31 June 16 Sept. Irs 1040x form instructions 15 Jan. Irs 1040x form instructions 15 next year June 1–Aug. Irs 1040x form instructions 31 Sept. Irs 1040x form instructions 15 Jan. Irs 1040x form instructions 15 next year After Aug. Irs 1040x form instructions 31 Jan. Irs 1040x form instructions 15 next year (None) *See Saturday, Sunday, holiday rule and January payment . Irs 1040x form instructions How much to pay to avoid a penalty. Irs 1040x form instructions   To determine how much you should pay by each payment due date, see How To Figure Each Payment, next. Irs 1040x form instructions How To Figure Each Payment You should pay enough estimated tax by the due date of each payment period to avoid a penalty for that period. Irs 1040x form instructions You can figure your required payment for each period by using either the regular installment method or the annualized income installment method. Irs 1040x form instructions These methods are described in chapter 2 of Publication 505. Irs 1040x form instructions If you do not pay enough during each payment period, you may be charged a penalty even if you are due a refund when you file your tax return. Irs 1040x form instructions If the earlier discussion of No income subject to estimated tax during first period or the later discussion of Change in estimated tax applies to you, you may benefit from reading Annualized Income Installment Method in chapter 2 of Publication 505 for information on how to avoid a penalty. Irs 1040x form instructions Underpayment penalty. Irs 1040x form instructions   Under the regular installment method, if your estimated tax payment for any period is less than one-fourth of your estimated tax, you may be charged a penalty for underpayment of estimated tax for that period when you file your tax return. Irs 1040x form instructions Under the annualized income installment method, your estimated tax payments vary with your income, but the amount required must be paid each period. Irs 1040x form instructions See chapter 4 of Publication 505 for more information. Irs 1040x form instructions Change in estimated tax. Irs 1040x form instructions   After you make an estimated tax payment, changes in your income, adjustments, deductions, credits, or exemptions may make it necessary for you to refigure your estimated tax. Irs 1040x form instructions Pay the unpaid balance of your amended estimated tax by the next payment due date after the change or in installments by that date and the due dates for the remaining payment periods. Irs 1040x form instructions Estimated Tax Payments Not Required You do not have to pay estimated tax if your withholding in each payment period is at least as much as: One-fourth of your required annual payment, or Your required annualized income installment for that period. Irs 1040x form instructions You also do not have to pay estimated tax if you will pay enough through withholding to keep the amount you owe with your return under $1,000. Irs 1040x form instructions How To Pay Estimated Tax There are several ways to pay estimated tax. Irs 1040x form instructions Credit an overpayment on your 2013 return to your 2014 estimated tax. Irs 1040x form instructions Pay by direct transfer from your bank account, or pay by credit or debit card using a pay-by-phone system or the Internet. Irs 1040x form instructions Send in your payment (check or money order) with a payment voucher from Form 1040-ES. Irs 1040x form instructions Credit an Overpayment If you show an overpayment of tax after completing your Form 1040 or Form 1040A for 2013, you can apply part or all of it to your estimated tax for 2014. Irs 1040x form instructions On line 75 of Form 1040, or line 44 of Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Irs 1040x form instructions Take the amount you have credited into account when figuring your estimated tax payments. Irs 1040x form instructions You cannot have any of the amount you credited to your estimated tax refunded to you until you file your tax return for the following year. Irs 1040x form instructions You also cannot use that overpayment in any other way. Irs 1040x form instructions Pay Online Paying online is convenient and secure and helps make sure we get your payments on time. Irs 1040x form instructions You can pay using either of the following electronic payment methods. Irs 1040x form instructions Direct transfer from your bank account. Irs 1040x form instructions Credit or debit card. Irs 1040x form instructions To pay your taxes online or for more information, go to www. Irs 1040x form instructions irs. Irs 1040x form instructions gov/e-pay. Irs 1040x form instructions Pay by Phone Paying by phone is another safe and secure method of paying electronically. Irs 1040x form instructions Use one of the following methods. Irs 1040x form instructions Direct transfer from your bank account. Irs 1040x form instructions Credit or debit card. Irs 1040x form instructions To pay by direct transfer from your bank account, call 1-800-555-4477 (English), 1-800-244-4829 (Espanol). Irs 1040x form instructions People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD can call 1-800-733-4829. Irs 1040x form instructions To pay using a credit or debit card, you can call one of the following service providers. Irs 1040x form instructions There is a convenience fee charged by these providers that varies by provider, card type, and payment amount. Irs 1040x form instructions WorldPay 1-888-9-PAY-TAXTM(1-888-972-9829) www. Irs 1040x form instructions payUSAtax. Irs 1040x form instructions com Official Payments Corporation 1-888-UPAY-TAXTM (1-888-872-9829) www. Irs 1040x form instructions officialpayments. Irs 1040x form instructions com Link2Gov Corporation 1-888-PAY-1040TM (1-888-729-1040) www. Irs 1040x form instructions PAY1040. Irs 1040x form instructions com For the latest details on how to pay by phone, go to www. Irs 1040x form instructions irs. Irs 1040x form instructions gov/e-pay. Irs 1040x form instructions Pay by Check or Money Order Using the Estimated Tax Payment Voucher Each payment of estimated tax by check or money order must be accompanied by a payment voucher from Form 1040-ES. Irs 1040x form instructions During 2013, if you: made at least one estimated tax payment but not by electronic means, did not use software or a paid preparer to prepare or file your return,  then you should receive a copy of the 2014 Form 1040-ES/V. Irs 1040x form instructions The enclosed payment vouchers will be preprinted with your name, address, and social security number. Irs 1040x form instructions Using the preprinted vouchers will speed processing, reduce the chance of error, and help save processing costs. Irs 1040x form instructions Use the window envelopes that came with your Form 1040-ES package. Irs 1040x form instructions If you use your own envelopes, make sure you mail your payment vouchers to the address shown in the Form 1040-ES instructions for the place where you live. Irs 1040x form instructions Note. Irs 1040x form instructions These criteria can change without notice. Irs 1040x form instructions If you do not receive a Form 1040-ES/V package and you are required to make an estimated tax payment, you should go to www. Irs 1040x form instructions irs. Irs 1040x form instructions gov and print a copy of Form 1040-ES which includes four blank payment vouchers. Irs 1040x form instructions Complete one of these and make your payment timely to avoid penalties for paying late. Irs 1040x form instructions Do not use the address shown in the Form 1040 or Form 1040A instructions for your estimated tax payments. Irs 1040x form instructions If you did not pay estimated tax last year, you can order Form 1040-ES from the IRS (see inside back cover of this publication) or download it from IRS. Irs 1040x form instructions gov. Irs 1040x form instructions Follow the instructions to make sure you use the vouchers correctly. Irs 1040x form instructions Joint estimated tax payments. Irs 1040x form instructions   If you file a joint return and are making joint estimated tax payments, enter the names and social security numbers on the payment voucher in the same order as they will appear on the joint return. Irs 1040x form instructions Change of address. Irs 1040x form instructions   You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Irs 1040x form instructions Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form. Irs 1040x form instructions Credit for Withholding and Estimated Tax for 2013 When you file your 2013 income tax return, take credit for all the income tax and excess social security or railroad retirement tax withheld from your salary, wages, pensions, etc. Irs 1040x form instructions Also take credit for the estimated tax you paid for 2013. Irs 1040x form instructions These credits are subtracted from your total tax. Irs 1040x form instructions Because these credits are refundable, you should file a return and claim these credits, even if you do not owe tax. Irs 1040x form instructions Two or more employers. Irs 1040x form instructions   If you had two or more employers in 2013 and were paid wages of more than $113,700, too much social security or tier 1 railroad retirement tax may have been withheld from your pay. Irs 1040x form instructions You may be able to claim the excess as a credit against your income tax when you file your return. Irs 1040x form instructions See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld in chapter 37. Irs 1040x form instructions Withholding If you had income tax withheld during 2013, you should be sent a statement by January 31, 2014, showing your income and the tax withheld. Irs 1040x form instructions Depending on the source of your income, you should receive: Form W-2, Wage and Tax Statement, Form W-2G, Certain Gambling Winnings, or A form in the 1099 series. Irs 1040x form instructions Forms W-2 and W-2G. Irs 1040x form instructions   If you file a paper return, always file Form W-2 with your income tax return. Irs 1040x form instructions File Form W-2G with your return only if it shows any federal income tax withheld from your winnings. Irs 1040x form instructions   You should get at least two copies of each form. Irs 1040x form instructions If you file a paper return, attach one copy to the front of your federal income tax return. Irs 1040x form instructions Keep one copy for your records. Irs 1040x form instructions You also should receive copies to file with your state and local returns. Irs 1040x form instructions Form W-2 Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. Irs 1040x form instructions You should receive a separate Form W-2 from each employer you worked for. Irs 1040x form instructions If you stopped working before the end of 2013, your employer could have given you your Form W-2 at any time after you stopped working. Irs 1040x form instructions However, your employer must provide or send it to you by January 31, 2014. Irs 1040x form instructions If you ask for the form, your employer must send it to you within 30 days after receiving your written request or within 30 days after your final wage payment, whichever is later. Irs 1040x form instructions If you have not received your Form W-2 by January 31, you should ask your employer for it. Irs 1040x form instructions If you do not receive it by February 15, call the IRS. Irs 1040x form instructions Form W-2 shows your total pay and other compensation and the income tax, social security tax, and Medicare tax that was withheld during the year. Irs 1040x form instructions Include the federal income tax withheld (as shown in box 2 of Form W-2) on: Line 62 if you file Form 1040, Line 36 if you file Form 1040A, or Line 7 if you file Form 1040EZ. Irs 1040x form instructions In addition, Form W-2 is used to report any taxable sick pay you received and any income tax withheld from your sick pay. Irs 1040x form instructions Form W-2G If you had gambling winnings in 2013, the payer may have withheld income tax. Irs 1040x form instructions If tax was withheld, the payer will give you a Form W-2G showing the amount you won and the amount of tax withheld. Irs 1040x form instructions Report the amounts you won on line 21 of Form 1040. Irs 1040x form instructions Take credit for the tax withheld on line 62 of Form 1040. Irs 1040x form instructions If you had gambling winnings, you must use Form 1040; you cannot use Form 1040A or Form 1040EZ. Irs 1040x form instructions The 1099 Series Most forms in the 1099 series are not filed with your return. Irs 1040x form instructions These forms should be furnished to you by January 31, 2014 (or, for Forms 1099-B, 1099-S, and certain Forms 1099-MISC, by February 15, 2014). Irs 1040x form instructions Unless instructed to file any of these forms with your return, keep them for your records. Irs 1040x form instructions There are several different forms in this series, including: Form 1099-B, Proceeds From Broker and Barter Exchange Transactions; Form 1099-DIV, Dividends and Distributions; Form 1099-G, Certain Government Payments; Form 1099-INT, Interest Income; Form 1099-K, Payment Card and Third Party Network Transactions; Form 1099-MISC, Miscellaneous Income; Form 1099-OID, Original Issue Discount; Form 1099-PATR, Taxable Distributions Received from Cooperatives; Form 1099-Q, Payments From Qualified Education Programs; Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Irs 1040x form instructions ; Form 1099-S, Proceeds From Real Estate Transactions; Form RRB-1099, Payments by the Railroad Retirement Board. Irs 1040x form instructions If you received the types of income reported on some forms in the 1099 series, you may not be able to use Form 1040A or Form 1040EZ. Irs 1040x form instructions See the instructions to these forms for details. Irs 1040x form instructions Form 1099-R. Irs 1040x form instructions   Attach Form 1099-R to your paper return if box 4 shows federal income tax withheld. Irs 1040x form instructions Include the amount withheld in the total on line 62 of Form 1040 or line 36 of Form 1040A. Irs 1040x form instructions You cannot use Form 1040EZ if you received payments reported on Form 1099-R. Irs 1040x form instructions Backup withholding. Irs 1040x form instructions   If you were subject to backup withholding on income you received during 2013, include the amount withheld, as shown on your Form 1099, in the total on line 62 of Form 1040, line 36 of Form 1040A, or line 7 of Form 1040EZ. Irs 1040x form instructions Form Not Correct If you receive a form with incorrect information on it, you should ask the payer for a corrected form. Irs 1040x form instructions Call the telephone number or write to the address given for the payer on the form. Irs 1040x form instructions The corrected Form W-2G or Form 1099 you receive will have an “X” in the “CORRECTED” box at the top of the form. Irs 1040x form instructions A special form, Form W-2c, Corrected Wage and Tax Statement, is used to correct a Form W-2. Irs 1040x form instructions In certain situations, you will receive two forms in place of the original incorrect form. Irs 1040x form instructions This will happen when your taxpayer identification number is wrong or missing, your name and address are wrong, or you received the wrong type of form (for example, a Form 1099-DIV instead of a Form 1099-INT). Irs 1040x form instructions One new form you receive will be the same incorrect form or have the same incorrect information, but all money amounts will be zero. Irs 1040x form instructions This form will have an “X” in the “CORRECTED” box at the top of the form. Irs 1040x form instructions The second new form should have all the correct information, prepared as though it is the original (the “CORRECTED” box will not be checked). Irs 1040x form instructions Form Received After Filing If you file your return and you later receive a form for income that you did not include on your return, you should report the income and take credit for any income tax withheld by filing Form 1040X, Amended U. Irs 1040x form instructions S. Irs 1040x form instructions Individual Income Tax Return. Irs 1040x form instructions Separate Returns If you are married but file a separate return, you can take credit only for the tax withheld from your own income. Irs 1040x form instructions Do not include any amount withheld from your spouse's income. Irs 1040x form instructions However, different rules may apply if you live in a community property state. Irs 1040x form instructions Community property states are listed in chapter 2. Irs 1040x form instructions For more information on these rules, and some exceptions, see Publication 555, Community Property. Irs 1040x form instructions Fiscal Years If you file your tax return on the basis of a fiscal year (a 12-month period ending on the last day of any month except December), you must follow special rules to determine your credit for federal income tax withholding. Irs 1040x form instructions For a discussion of how to take credit for withholding on a fiscal year return, see Fiscal Years (FY) in chapter 3 of Publication 505. Irs 1040x form instructions Estimated Tax Take credit for all your estimated tax payments for 2013 on line 63 of Form 1040 or line 37 of Form 1040A. Irs 1040x form instructions Include any overpayment from 2012 that you had credited to your 2013 estimated tax. Irs 1040x form instructions You must use Form 1040 or Form 1040A if you paid estimated tax. Irs 1040x form instructions You cannot use Form 1040EZ. Irs 1040x form instructions Name changed. Irs 1040x form instructions   If you changed your name, and you made estimated tax payments using your old name, attach a brief statement to the front of your paper tax return indicating: When you made the payments, The amount of each payment, Your name when you made the payments, and Your social security number. Irs 1040x form instructions The statement should cover payments you made jointly with your spouse as well as any you made separately. Irs 1040x form instructions   Be sure to report the change to the Social Security Administration. Irs 1040x form instructions This prevents delays in processing your return and issuing any refunds. Irs 1040x form instructions Separate Returns If you and your spouse made separate estimated tax payments for 2013 and you file separate returns, you can take credit only for your own payments. Irs 1040x form instructions If you made joint estimated tax payments, you must decide how to divide the payments between your returns. Irs 1040x form instructions One of you can claim all of the estimated tax paid and the other none, or you can divide it in any other way you agree on. Irs 1040x form instructions If you cannot agree, you must divide the payments in proportion to each spouse's individual tax as shown on your separate returns for 2013. Irs 1040x form instructions Divorced Taxpayers If you made joint estimated tax payments for 2013, and you were divorced during the year, either you or your former spouse can claim all of the joint payments, or you each can claim part of them. Irs 1040x form instructions If you cannot agree on how to divide the payments, you must divide them in proportion to each spouse's individual tax as shown on your separate returns for 2013. Irs 1040x form instructions If you claim any of the joint payments on your tax return, enter your former spouse's social security number (SSN) in the space provided on the front of Form 1040 or Form 1040A. Irs 1040x form instructions If you divorced and remarried in 2013, enter your present spouse's SSN in that space and write your former spouse's SSN, followed by “DIV,” to the left of Form 1040, line 63, or Form 1040A, line 37. Irs 1040x form instructions Underpayment Penalty for 2013 If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have an underpayment of estimated tax and you may have to pay a penalty. Irs 1040x form instructions Generally, you will not have to pay a penalty for 2013 if any of the following apply. Irs 1040x form instructions The total of your withholding and estimated tax payments was at least as much as your 2012 tax (or 110% of your 2012 tax if your AGI was more than $150,000, $75,000 if your 2013 filing status is married filing separately) and you paid all required estimated tax payments on time. Irs 1040x form instructions The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. Irs 1040x form instructions Your total 2013 tax minus your withholding and refundable credits is less than $1,000. Irs 1040x form instructions You did not have a tax liability for 2012 and your 2012 tax year was 12 months, or You did not have any withholding taxes and your current year tax less any household employment taxes is less than $1,000. Irs 1040x form instructions See Publication 505, chapter 4, for a definition of “total tax” for 2012 and 2013. Irs 1040x form instructions Farmers and fishermen. Irs 1040x form instructions   Special rules apply if you are a farmer or fisherman. Irs 1040x form instructions See Farmers and Fishermen in chapter 4 of Publication 505 for more information. Irs 1040x form instructions IRS can figure the penalty for you. Irs 1040x form instructions   If you think you owe the penalty but you do not want to figure it yourself when you file your tax return, you may not have to. Irs 1040x form instructions Generally, the IRS will figure the penalty for you and send you a bill. Irs 1040x form instructions However, if you think you are able to lower or eliminate your penalty, you must complete Form 2210 or Form 2210-F and attach it to your paper return. Irs 1040x form instructions See chapter 4 of Publication 505. Irs 1040x form instructions Prev  Up  Next   Home   More Online Publications
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The Irs 1040x Form Instructions

Irs 1040x form instructions Publication 561 - Additional Material Table of Contents Tax Publications for Individual Taxpayers and Commonly Used Tax Forms Tax Publications for Individual Taxpayers and Commonly Used Tax Forms. Irs 1040x form instructions  Summary: This is a listing of tax publications and commonly used tax forms. Irs 1040x form instructions The text states:Tax Publications for Individual Taxpayers. Irs 1040x form instructions  See How to Get Tax Help for a variety of ways to get publications, including by computer, phone, and mail. Irs 1040x form instructions General Guides. Irs 1040x form instructions   1--Your Rights as a Taxpayer 17--Your Federal Income Tax (For Individuals) 334--Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) 509--Tax Calendars for 2007 553--Highlights of 2006 Tax Changes 910--IRS Guide to Free Tax Services Specialized Publications. Irs 1040x form instructions   3--Armed Forces' Tax Guide 54--Tax Guide for U. Irs 1040x form instructions S. Irs 1040x form instructions Citizens and Residents Aliens Abroad 225--Farmer's Tax Guide 463--Travel, Entertainment, Gift, and Car Expenses 501--Exemptions, Standard Deduction, and Filing Information 502--Medical and Dental Expenses 503--Child and Dependent Care Expenses 504--Divorced or Separated Individuals 505--Tax Withholding and Estimated Tax 514--Foreign Tax Credit for Individuals 516--U. Irs 1040x form instructions S. Irs 1040x form instructions Government Civilian Employees Stationed Abroad 517--Social Security and Other Information for Members of the Clergy and Religious Workers 519--U. Irs 1040x form instructions S. Irs 1040x form instructions Tax Guide for Aliens 520--Scholarships and Fellowships 521--Moving Expenses 523--Selling Your Home 524--Credit for the Elderly or the Disabled 525--Taxable and Nontaxable Income 526--Charitable Contributions 527--Residential Rental Property 529--Miscellaneous Deductions 530--Tax Information for First-Time Homeowners 531--Reporting Tip Income 536--Net Operating Losses (NOLs) for Individuals, Estates, and Trusts 537--Installment Sales 541--Partnerships 544--Sales and Other Dispositions of Assets 547--Casualties, Disasters, and Thefts 550--Investment Income and Expenses 551--Basis of Assets 552--Recordkeeping for Individuals 554--Older Americans' Tax Guide 555--Community Property 556--Examination of Returns, Appeal Rights, and Claims for Refund 559--Survivors, Executors, and Administrators 561--Determining the Value of Donated Property 564--Mutual Fund Distributions 570--Tax Guide for Individuals With Income From U. Irs 1040x form instructions S. Irs 1040x form instructions Possessions 571--Tax-Sheltered Annuity Plans (403(b) Plans) 575--Pension and Annuity Income 584--Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property) 587--Business Use of Your Home (Including Use by Daycare Providers) 590--Individual Retirement Arrangements (IRAs) 593--Tax Highlights for U. Irs 1040x form instructions S. Irs 1040x form instructions Citizens and Residents Going Abroad 594--What You Should Know About the IRS Collection Process 596--Earned Income Credit (EIC) 721--Tax Guide to U. Irs 1040x form instructions S. Irs 1040x form instructions Civil Service Retirement Benefits 901--U. Irs 1040x form instructions S. Irs 1040x form instructions Tax Treaties 907--Tax Highlights for Persons with Disabilities 908--Bankruptcy Tax Guide 915--Social Security and Equivalent Railroad Retirement Benefits 919--How Do I Adjust My Tax Withholding? 925--Passive Activity and At-Risk Rules 926--Household Employer's Tax Guide 929--Tax Rules for Children and Dependents 936--Home Mortgage Interest Deduction 946--How to Depreciate Property 947--Practice Before the IRS and Power of Attorney 950--Introduction to Estate and Gift Taxes 967--The IRS Will Figure Your Tax 969--Health Savings Accounts and Other Tax-Favored Health Plans 970--Tax Benefits for Education 971--Innocent Spouse Relief 972--Child Tax Credit 1542--Per Diem Rates 1544--Reporting Cash Payments of Over $10,000 (Received in a Trade or Business) 1546--The Taxpayer Advocate Service of the IRS - How to Get Help With Unresolved Tax Problems Spanish Language Publications. Irs 1040x form instructions   1SP--Derechos del Contribuyente 579SP--Cómo Preparar la Declaración de Impuesto Federal 594SP--Que es lo que Debemos Saber sobre el Proceso de Cobro del IRS 596SP--Crédito por Ingreso del Trabajo 850--English-Spanish Glossary of Words and Phrases Used in Publications Issued by the Internal Revenue Service 1544SP--Informe de Pagos en Efectivo en Exceso de $10,000 (Recibidos en una Ocupación o Negocio) Commonly Used Tax Forms. Irs 1040x form instructions  See How To Get Tax Help for a variety of ways to get forms, including by computer, fax, phone, and mail. Irs 1040x form instructions 1040--U. Irs 1040x form instructions S. Irs 1040x form instructions Individual Income Tax Return Schedule A&B--Itemized Deductions & Interest and Ordinary Dividends Schedule C--Profit or Loss From Business Schedule C-EZ--Net Profit From Business Schedule D--Capital Gains and Losses Schedule D-1--Continuation Sheet for Schedule D Schedule E--Supplemental Income and Loss Schedule EIC--Earned Income Credit Schedule F--Profit or Loss From Farming Schedule H--Household Employment Taxes Schedule J--Income Averaging for Farmers and Fishermen Schedule R--Credit for the Elderly or the Disabled Schedule SE--Self-Employment Tax 1040A--U. Irs 1040x form instructions S. Irs 1040x form instructions Individual Income Tax Return Schedule 1--Interest and Ordinary Dividends for Form 1040A Filers Schedule 2--Child and Dependent Care Expenses for Form 1040A Filers Schedule 3--Credit for the Elderly or the Disabled for Form 1040A Filers 1040EZ--Income Tax Return for Single and Joint Filers With No Dependents 1040-ES--Estimated Tax for Individuals 1040X--Amended U. Irs 1040x form instructions S. Irs 1040x form instructions Individual Income Tax Return 2106--Employee Business Expenses 2106-EZ--Unreimbursed Employee Business Expenses 2210--Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2441--Child and Dependent Care Expenses 2848--Power of Attorney and Declaration of Representative 3903--Moving Expenses 4562--Depreciation and Amortization 4868--Application for Automatic Extension of Time To File U. Irs 1040x form instructions S. Irs 1040x form instructions Individual Income Tax Return 4952--Investment Interest Expense Deduction 5329--Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 6251--Alternative Minimum Tax--Individuals 8283--Noncash Charitable Contributions 8582--Passive Activity Loss Limitations 8606--Nondeductible IRAs 8812--Additional Child Tax Credit 8822--Change of Address 8829--Expenses for Business Use of Your Home 8863--Education Credits 9465--Installment Agreement Request Prev  Up  Next   Home   More Online Publications