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Irs Amended Return

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Irs Amended Return

Irs amended return Publication 525 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionAssignment of income. Irs amended return Ordering forms and publications. Irs amended return Tax questions. Irs amended return Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 525, such as legislation enacted after it was published, go to www. Irs amended return irs. Irs amended return gov/pub525. Irs amended return What's New Health flexible spending arrangements (health FSAs) under cafeteria plans. Irs amended return  For plan years beginning after 2012, health FSAs are subject to a $2,500 limit on salary reduction contributions. Irs amended return For plan years beginning after 2013, the $2,500 limit is subject to an inflation adjustment. Irs amended return Itemized deduction for medical expenses. Irs amended return  Beginning in 2013, an itemized deduction is generally allowed for uncompensated medical expenses that exceed 10% of adjusted gross income (AGI). Irs amended return If an individual or an individual’s spouse was born before January 2, 1949, the deduction is allowed for expenses that exceed 7. Irs amended return 5% of AGI. Irs amended return Additional Medicare Tax. Irs amended return  Beginning in 2013, a 0. Irs amended return 9% Additional Medicare Tax applies to Medicare wages, railroad retirement (RRTA) compensation, and self-employment income that are more than: $125,000 if married filing separately, $250,000 if married filing jointly, or $200,000 if single, head of household, or qualifying widow(er). Irs amended return For more information, see Form 8959 and its instructions. Irs amended return Net Investment Income Tax (NIIT). Irs amended return  Beginning in 2013, the NIIT applies at a rate of 3. Irs amended return 8% to certain net investment income of individuals, estates and trusts that have income above the threshold amounts. Irs amended return Individuals will owe the tax if they have net investment income and also have modified adjusted gross income over the following thresholds for their filing status: Married filing jointly, $250,000; Married filing separately, $125,000; Single, $200,000; Head of household (with qualifying person), $200,000; Qualifying widow(er) with dependent child, $250,000. Irs amended return For more information, see Form 8960 and its instructions. Irs amended return Reminders Terrorist attacks. Irs amended return  You can exclude from income certain disaster assistance, disability, and death payments received as a result of a terrorist or military action. Irs amended return For more information, see Publication 3920, Tax Relief for Victims of Terrorist Attacks. Irs amended return Gulf oil spill. Irs amended return  You are required to include in your gross income payments you received for lost wages, lost business income, or lost profits. Irs amended return See Gulf oil spill under Other Income, later. Irs amended return Qualified settlement income. Irs amended return . Irs amended return  If you are a qualified taxpayer, you can contribute all or part of your qualified settlement income, up to $100,000, to an eligible retirement plan, including an IRA. Irs amended return Contributions to eligible retirement plans, other than a Roth IRA or a designated Roth contribution, reduce the qualified settlement income that you must include in income. Irs amended return See Exxon Valdez settlement income under Other Income, later. Irs amended return Foreign income. Irs amended return  If you are a U. Irs amended return S. Irs amended return citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it is exempt by U. Irs amended return S. Irs amended return law. Irs amended return This is true whether you reside inside or outside the United States and whether or not you receive a Form W-2, Wage and Tax Statement, or Form 1099 from the foreign payer. Irs amended return This applies to earned income (such as wages and tips) as well as unearned income (such as interest, dividends, capital gains, pensions, rents, and royalties). Irs amended return If you reside outside the United States, you may be able to exclude part or all of your foreign source earned income. Irs amended return For details, see Publication 54, Tax Guide for U. Irs amended return S. Irs amended return Citizens and Resident Aliens Abroad. Irs amended return Disaster mitigation payments. Irs amended return . Irs amended return  You can exclude from income grants you use to mitigate (reduce the severity of) potential damage from future natural disasters that are paid to you through state and local governments. Irs amended return For more information, see Disaster mitigation payments under Welfare and Other Public Assistance Benefits, later. Irs amended return Qualified joint venture. Irs amended return  A qualified joint venture conducted by you and your spouse may not be treated as a partnership if you file a joint return for the tax year. Irs amended return See Partnership Income under Business and Investment Income, later. Irs amended return Photographs of missing children. Irs amended return  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Irs amended return Photographs of missing children selected by the Center may appear in this publication on pages that otherwise would be blank. Irs amended return You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs amended return Introduction You can receive income in the form of money, property, or services. Irs amended return This publication discusses many kinds of income and explains whether they are taxable or nontaxable. Irs amended return It includes discussions on employee wages and fringe benefits, and income from bartering, partnerships, S corporations, and royalties. Irs amended return It also includes information on disability pensions, life insurance proceeds, and welfare and other public assistance benefits. Irs amended return Check the index for the location of a specific subject. Irs amended return In most cases, an amount included in your income is taxable unless it is specifically exempted by law. Irs amended return Income that is taxable must be reported on your return and is subject to tax. Irs amended return Income that is nontaxable may have to be shown on your tax return but is not taxable. Irs amended return Constructively received income. Irs amended return   You are generally taxed on income that is available to you, regardless of whether it is actually in your possession. Irs amended return    A valid check that you received or that was made available to you before the end of the tax year is considered income constructively received in that year, even if you do not cash the check or deposit it to your account until the next year. Irs amended return For example, if the postal service tries to deliver a check to you on the last day of the tax year but you are not at home to receive it, you must include the amount in your income for that tax year. Irs amended return If the check was mailed so that it could not possibly reach you until after the end of the tax year, and you otherwise could not get the funds before the end of the year, you include the amount in your income for the next tax year. Irs amended return Assignment of income. Irs amended return   Income received by an agent for you is income you constructively received in the year the agent received it. Irs amended return If you agree by contract that a third party is to receive income for you, you must include the amount in your income when the third party receives it. Irs amended return Example. Irs amended return You and your employer agree that part of your salary is to be paid directly to one of your creditors. Irs amended return You must include that amount in your income when your creditor receives it. Irs amended return Prepaid income. Irs amended return   In most cases, prepaid income, such as compensation for future services, is included in your income in the year you receive it. Irs amended return However, if you use an accrual method of accounting, you can defer prepaid income you receive for services to be performed before the end of the next tax year. Irs amended return In this case, you include the payment in your income as you earn it by performing the services. Irs amended return Comments and suggestions. Irs amended return   We welcome your comments about this publication and your suggestions for future editions. Irs amended return   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Irs amended return NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs amended return Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs amended return   You can send your comments from www. Irs amended return irs. Irs amended return gov/formspubs/. Irs amended return Click on “More Information” and then on “Comment on Tax Forms and Publications. Irs amended return ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Irs amended return Ordering forms and publications. Irs amended return   Visit www. Irs amended return irs. Irs amended return gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Irs amended return Internal Revenue Service 1201 N. Irs amended return Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Irs amended return   If you have a tax question, check the information available on IRS. Irs amended return gov or call 1-800-829-1040. Irs amended return We cannot answer tax questions sent to either of the above addresses. Irs amended return Useful Items - You may want to see: Publication 334 Tax Guide for Small Business 523 Selling Your Home 527 Residential Rental Property 541 Partnerships 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses 559 Survivors, Executors, and Administrators 575 Pension and Annuity Income 915 Social Security and Equivalent Railroad Retirement Benefits 970 Tax Benefits for Education 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments Form (and Instructions) 1040 U. Irs amended return S. Irs amended return Individual Income Tax Return 1040A U. Irs amended return S. Irs amended return Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. Irs amended return S. Irs amended return Nonresident Alien Income Tax Return 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Irs amended return W-2 Wage and Tax Statement  See How To Get Tax Help , near the end of this publication, for information about getting these publications. Irs amended return Prev  Up  Next   Home   More Online Publications
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Learn more about filing your federal and state taxes.


Federal Taxes

The government collects taxes to pay its bills and provide public goods and services. The Internal Revenue Service (IRS) is the nation's tax collection agency.

The taxes you owe to the government are generally paid through withholding (money taken out of your paycheck), estimated tax payments, and payments made with tax forms that you file with the government. April 15 of each year is usually the due date for filing your federal individual income tax return for the previous calendar year.

Many people file a return even though their income is below the filing requirement. Check if you need to file an income tax return with the IRS.

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Over 100 million people filed their taxes electronically last year. Electronic filing (e-file) makes filing your taxes easier, reduces the risk of error, and you’ll receive your refund faster. The IRS can help you find an authorized e-file provider in your area.

You can also file your federal tax return by mail. You can print forms and publications from the IRS website or find them at your local library. Before mailing them in, make sure to double check your math for errors. Visit the IRS for a list of the most common tax forms and instruction booklets for each form. The IRS has information about which form to use: the 1040-EZ, 1040A, or 1040.

Deadline to File and Requesting an Extension

April 15, 2014 is the due date for filing your federal individual income tax return for the 2013 calendar year. For other deadlines, review Publication 509 Tax Calendar (PDF).

If you cannot file by the deadline, you need to request an extension. There are electronic and paper options available to file an extension. Download the form and learn more about your options.

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If you pay more money than you owe, the government will issue you a tax refund. If you expect a refund, visit Where's My Refund? to track it.

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For detailed information on tax help, download the IRS Guide to Free Tax Services (PDF).

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State and Local Taxes

State and local taxes come from transaction taxes, such as sales tax; income taxes, the money withheld from your paycheck; and property taxes from homeowners. The type and amount of tax varies from state to state and between local communities.

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The Irs Amended Return

Irs amended return 3. Irs amended return   Environmental Taxes Table of Contents Oil Spill Liability Tax ODCs Imported Taxable Products Floor Stocks Tax Environmental taxes are imposed on crude oil and petroleum products (oil spill liability), the sale or use of ozone-depleting chemicals (ODCs), and imported products containing or manufactured with ODCs. Irs amended return In addition, a floor stocks tax is imposed on ODCs held on January 1 by any person (other than the manufacturer or importer of the ODCs) for sale or for use in further manufacture. Irs amended return Figure the environmental tax on Form 6627. Irs amended return Enter the tax on the appropriate lines of Form 720 and attach Form 6627 to Form 720. Irs amended return For environmental tax purposes, United States includes the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, any possession of the United States, the Commonwealth of the Northern Mariana Islands, the Trust Territory of the Pacific Islands, the continental shelf areas (applying the principles of section 638), and foreign trade zones. Irs amended return No one is exempt from the environmental taxes, including the federal government, state and local governments, Indian tribal governments, and nonprofit educational organizations. Irs amended return Oil Spill Liability Tax The oil spill liability tax is reported on Form 6627, Environmental Taxes, and Form 720, Quarterly Federal Excise Tax Return (IRS Nos. Irs amended return 18 and 21). Irs amended return The oil spill liability tax rate is $. Irs amended return 08 per barrel and generally applies to crude oil received at a U. Irs amended return S. Irs amended return refinery and to petroleum products entered into the United States for consumption, use, or warehousing. Irs amended return The tax also applies to certain uses and the exportation of domestic crude oil. Irs amended return Crude oil includes crude oil condensates and natural gasoline. Irs amended return Petroleum products include crude oil, refined and residual oil, and other liquid hydrocarbon refinery products. Irs amended return Crude oil. Irs amended return   Tax is imposed on crude oil when it is received at a United Sates refinery. Irs amended return The operator of the refinery is liable for the tax. Irs amended return   Tax is imposed on domestic crude oil used or exported before it is received at a United States refinery. Irs amended return However, the use of crude oil for extracting oil or natural gas on the premises where such crude oil was produced is not taxable. Irs amended return The user or exporter is liable for the tax. Irs amended return Imported petroleum products. Irs amended return   Tax is imposed on petroleum products when they enter the United States for consumption, use, or warehousing. Irs amended return The person entering the petroleum product into the country is liable for the tax, including the tax on imported crude oil, even if it is subsequently received at a U. Irs amended return S. Irs amended return refinery. Irs amended return   Tax is imposed only once on any imported petroleum product. Irs amended return Thus, the operator of a U. Irs amended return S. Irs amended return refinery that receives imported crude oil must establish that the petroleum tax has already been imposed on such crude oil in order not to be liable for the tax. Irs amended return ODCs For a list of the taxable ODCs and tax rates, see the Form 6627 instructions. Irs amended return Taxable event. Irs amended return   Tax is imposed on an ODC when it is first used or sold by its manufacturer or importer. Irs amended return The manufacturer or importer is liable for the tax. Irs amended return Use of ODCs. Irs amended return   You use an ODC if you put it into service in a trade or business or for the production of income. Irs amended return Also, an ODC is used if you use it in the making of an article, including incorporation into the article, chemical transformation, or release into the air. Irs amended return The loss, destruction, packaging, repackaging, or warehousing of ODCs is not a use of the ODC. Irs amended return   The creation of a mixture containing an ODC is treated as a taxable use of the ODC contained in the mixture. Irs amended return An ODC is contained in a mixture only if the chemical identity of the ODC is not changed. Irs amended return Generally, tax is imposed when the mixture is created and not on its sale or use. Irs amended return However, you can choose to have the tax imposed on its sale or use by checking the appropriate box on Form 6627. Irs amended return You can revoke this choice only with IRS consent. Irs amended return   The creation of a mixture for export or for use as a feedstock is not a taxable use of the ODCs contained in the mixture. Irs amended return Exceptions. Irs amended return   The following may be exempt from the tax on ODCs. Irs amended return Metered-dose inhalers. Irs amended return Recycled ODCs. Irs amended return Exported ODCs. Irs amended return ODCs used as feedstock. Irs amended return Metered-dose inhalers. Irs amended return   There is no tax on ODCs used or sold for use as propellants in metered-dose inhalers. Irs amended return For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs amended return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs amended return 4682-2(d)(5). Irs amended return The certificate may be included as part of the sales documentation. Irs amended return Keep the certificate with your records. Irs amended return Recycled ODCs. Irs amended return   There is no tax on any ODC diverted or recovered in the United States as part of a recycling process (and not as part of the original manufacturing or production process). Irs amended return There is no tax on recycled Halon-1301 or recycled Halon-2402 imported from a country that has signed the Montreal Protocol on Substances that Deplete the Ozone Layer (Montreal Protocol). Irs amended return   The Montreal Protocol is administered by the United Nations (U. Irs amended return N. Irs amended return ). Irs amended return To determine if a country has signed the Montreal Protocol, contact the U. Irs amended return N. Irs amended return The website is untreaty. Irs amended return un. Irs amended return org. Irs amended return Exported ODCs. Irs amended return   Generally, there is no tax on ODCs sold for export if certain requirements are met. Irs amended return For a sale to be nontaxable, you and the purchaser must be registered. Irs amended return See Form 637, Application for Registration (for Certain Excise Tax Activities). Irs amended return Also, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs amended return Keep the certificate with your records. Irs amended return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs amended return 4682-5(d)(3). Irs amended return The tax benefit of this exemption is limited. Irs amended return For more information, see Regulations section 52. Irs amended return 4682-5. Irs amended return ODCs used as feedstock. Irs amended return   There is no tax on ODCs sold for use or used as a feedstock. Irs amended return An ODC is used as a feedstock only if the ODC is entirely consumed in the manufacture of another chemical. Irs amended return The transformation of an ODC into one or more new compounds qualifies as use as a feedstock, but use of an ODC in a mixture does not qualify. Irs amended return   For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Irs amended return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Irs amended return 4682-2(d)(2). Irs amended return Keep the certificate with your records. Irs amended return Credits or refunds. Irs amended return   A credit or refund (without interest) of tax paid on ODCs may be claimed if a taxed ODC is: Used as a propellant in a metered-dose inhaler (the person who used the ODC as a propellant may file a claim), Exported (the manufacturer may file a claim), or Used as a feedstock (the person who used the ODC may file a claim). Irs amended return For information on how to file for credits or refunds, see the Instructions for Form 720 or Schedule 6 (Form 8849). Irs amended return Conditions to allowance for ODCs exported. Irs amended return   To claim a credit or refund for ODCs that are exported, you must have repaid or agreed to repay the tax to the exporter, or obtained the exporter's written consent to allowance of the credit or refund. Irs amended return You must also have the evidence required by the EPA as proof that the ODCs were exported. Irs amended return Imported Taxable Products An imported product containing or manufactured with ODCs is subject to tax if it is entered into the United States for consumption, use, or warehousing and is listed in the Imported Products Table. Irs amended return The Imported Products Table is listed in Regulations section 52. Irs amended return 4682-3(f)(6). Irs amended return The tax is based on the weight of the ODCs used in the manufacture of the product. Irs amended return Use the following methods to figure the ODC weight. Irs amended return The actual (exact) weight of each ODC used as a material in manufacturing the product. Irs amended return If the actual weight cannot be determined, the ODC weight listed for the product in the Imported Products Table. Irs amended return However, if you cannot determine the actual weight and the table does not list an ODC weight for the product, the rate of tax is 1% of the entry value of the product. Irs amended return Taxable event. Irs amended return   Tax is imposed on an imported taxable product when the product is first sold or used by its importer. Irs amended return The importer is liable for the tax. Irs amended return Use of imported products. Irs amended return   You use an imported product if you put it into service in a trade or business or for the production of income or use it in the making of an article, including incorporation into the article. Irs amended return The loss, destruction, packaging, repackaging, warehousing, or repair of an imported product is not a use of that product. Irs amended return Entry as use. Irs amended return   The importer may choose to treat the entry of a product into the United States as the use of the product. Irs amended return Tax is imposed on the date of entry instead of when the product is sold or used. Irs amended return The choice applies to all imported taxable products that you own and have not used when you make the choice and all later entries. Irs amended return Make the choice by checking the box in Part II of Form 6627. Irs amended return The choice is effective as of the beginning of the calendar quarter to which the Form 6627 applies. Irs amended return You can revoke this choice only with IRS consent. Irs amended return Sale of article incorporating imported product. Irs amended return   The importer may treat the sale of an article manufactured or assembled in the United States as the first sale or use of an imported taxable product incorporated in that article if both the following apply. Irs amended return The importer has consistently treated the sale of similar items as the first sale or use of similar taxable imported products. Irs amended return The importer has not chosen to treat entry into the United States as use of the product. Irs amended return Imported products table. Irs amended return   The table lists all the products that are subject to the tax on imported taxable products and specifies the ODC weight (discussed later) of each product. Irs amended return   Each listing in the table identifies a product by name and includes only products that are described by that name. Irs amended return Most listings identify a product by both name and Harmonized Tariff Schedule (HTS) heading. Irs amended return In those cases, a product is included in that listing only if the product is described by that name and the rate of duty on the product is determined by reference to that HTS heading. Irs amended return A product is included in the listing even if it is manufactured with or contains a different ODC than the one specified in the table. Irs amended return   Part II of the table lists electronic items that are not included within any other list in the table. Irs amended return An imported product is included in this list only if the product meets one of the following tests. Irs amended return It is an electronic component whose operation involves the use of nonmechanical amplification or switching devices such as tubes, transistors, and integrated circuits. Irs amended return It contains components described in (1), which account for more than 15% of the cost of the product. Irs amended return   These components do not include passive electrical devices, such as resistors and capacitors. Irs amended return Items such as screws, nuts, bolts, plastic parts, and similar specially fabricated parts that may be used to construct an electronic item are not themselves included in the listing for electronic items. Irs amended return Rules for listing products. Irs amended return   Products are listed in the table according to the following rules. Irs amended return A product is listed in Part I of the table if it is a mixture containing ODCs. Irs amended return A product is listed in Part II of the table if the Commissioner has determined that the ODCs used as materials in the manufacture of the product under the predominant method are used for purposes of refrigeration or air conditioning, creating an aerosol or foam, or manufacturing electronic components. Irs amended return A product is listed in Part III of the table if the Commissioner has determined that the product meets both the following tests. Irs amended return It is not an imported taxable product. Irs amended return It would otherwise be included within a list in Part II of the table. Irs amended return   For example, floppy disk drive units are listed in Part III because they are not imported taxable products and would have been included in the Part II list for electronic items not specifically identified, but for their listing in Part III. Irs amended return ODC weight. Irs amended return   The Table ODC weight of a product is the weight, determined by the Commissioner, of the ODCs used as materials in the manufacture of the product under the predominant method of manufacturing. Irs amended return The ODC weight is listed in Part II in pounds per single unit of product unless otherwise specified. Irs amended return Modifying the table. Irs amended return   A manufacturer or importer of a product may request the IRS add a product and its ODC weight to the table. Irs amended return They also may request the IRS remove a product from the table, or change or specify the ODC weight of a product. Irs amended return To request a modification, see Regulations section 52. Irs amended return 4682-3(g) for the mailing address and information that must be included in the request. Irs amended return Floor Stocks Tax Tax is imposed on any ODC held (other than by the manufacturer or importer of the ODC) on January 1 for sale or use in further manufacturing. Irs amended return The person holding title (as determined under local law) to the ODC is liable for the tax, whether or not delivery has been made. Irs amended return These chemicals are taxable without regard to the type or size of storage container in which the ODCs are held. Irs amended return The tax may apply to an ODC whether it is in a 14-ounce can or a 30-pound tank. Irs amended return You are liable for the floor stocks tax if you hold any of the following on January 1. Irs amended return At least 400 pounds of ODCs other than halons or methyl chloroform, At least 50 pounds of halons, or At least 1,000 pounds of methyl chloroform. Irs amended return If you are liable for the tax, prepare an inventory on January 1 of the taxable ODCs held on that date for sale or for use in further manufacturing. Irs amended return You must pay this floor stocks tax by June 30 of each year. Irs amended return Report the tax on Form 6627 and Part II of Form 720 for the second calendar quarter. Irs amended return For the tax rates, see the Form 6627 instructions. Irs amended return ODCs not subject to floor stocks tax. Irs amended return   The floor stocks tax is not imposed on any of the following ODCs. Irs amended return ODCs mixed with other ingredients that contribute to achieving the purpose for which the mixture will be used, unless the mixture contains only ODCs and one or more stabilizers. Irs amended return ODCs contained in a manufactured article in which the ODCs will be used for their intended purpose without being released from the article. Irs amended return ODCs that have been reclaimed or recycled. Irs amended return ODCs sold in a qualifying sale for: Use as a feedstock, Export, or Use as a propellant in a metered-dose inhaler. Irs amended return Prev  Up  Next   Home   More Online Publications