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Irs Tax Forms For 2012

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Irs Tax Forms For 2012

Irs tax forms for 2012 Index A Abandonment, Abandonment Accounting method Accrual, Accrual Method Cash, Cash Method Change in, Changes in Methods of Accounting Crop, Crop method. Irs tax forms for 2012 Farm inventory, Farm Inventory Accounting periods, Introduction Accrual method of accounting, Accrual Method Additional Medicare Tax withholding, What's New for 2013, Additional Medicare Tax. Irs tax forms for 2012 Adjusted basis for installment sale, Adjusted basis for installment sale purposes. Irs tax forms for 2012 Adjusted basis of assets, Adjusted Basis Agricultural activity codes, Schedule F, Reminders Agricultural program payments, Agricultural Program Payments Agricultural structure, defined, Agricultural structure. Irs tax forms for 2012 Alternative Depreciation System (ADS), Required use of ADS. Irs tax forms for 2012 , ADS election. Irs tax forms for 2012 Amortization Going into business, Business Start-Up Costs Reforestation expenses, Reforestation Costs Section 197 intangibles, Section 197 Intangibles Assessments By conservation district, Assessment by Conservation District Depreciable property, Assessment for Depreciable Property Assistance (see Tax help) Automobiles, depreciation, Limits for passenger automobiles. Irs tax forms for 2012 B Bankruptcy, Bankruptcy. Irs tax forms for 2012 Barter income, Barter income. Irs tax forms for 2012 Basis Adjusted, Adjusted basis. Irs tax forms for 2012 Installment sale, Adjusted basis for installment sale purposes. Irs tax forms for 2012 Involuntary conversion, Basis for depreciation. Irs tax forms for 2012 Like-kind exchange, Basis for depreciation. Irs tax forms for 2012 Partner's basis, Property Distributed From a Partnership or Corporation Replacement property, Basis of replacement property. Irs tax forms for 2012 Shareholder's basis, Property Distributed From a Partnership or Corporation Basis of assets Adjusted basis, Adjusted Basis Allocating to several assets, Allocating the Basis Changed to business use, Property changed from personal to business or rental use. Irs tax forms for 2012 Constructing assets, Constructing assets. Irs tax forms for 2012 Cost, Cost Basis Decreases, Decreases to Basis Depreciation, What Is the Basis for Depreciation? Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Gifts, Property Received as a Gift Increases, Increases to Basis Real property, Real Property Received for services, Property received for services. Irs tax forms for 2012 Uniform capitalization rules, Uniform Capitalization Rules Below-market loans, Below-market loans. Irs tax forms for 2012 Books and records, Importance of Records Breeding fees, Breeding Fees Business income limit, section 179 expense deduction, Business Income Limit Business use of home, Business Use of Your Home C Canceled debt, Cancellation of Debt Capital assets, Capital Assets Capital expenses, Capital Expenses Car expenses, Truck and Car Expenses Cash method of accounting, Cash Method Casualties and thefts Adjustments to basis, Adjustments to basis. Irs tax forms for 2012 Casualty, defined, Casualty. Irs tax forms for 2012 Disaster area losses, Disaster Area Losses Leased property, Leased property. Irs tax forms for 2012 Livestock, Livestock or produce bought for resale. Irs tax forms for 2012 , Raised draft, breeding, dairy, or sporting animals. Irs tax forms for 2012 Reimbursement, Insurance and other reimbursements. Irs tax forms for 2012 Reporting gains and losses, Reporting Gains and Losses Theft, defined, Theft. Irs tax forms for 2012 Change in accounting method, Changes in Methods of Accounting Chickens, purchased, Chickens, seeds, and young plants. Irs tax forms for 2012 Christmas trees, Christmas tree cultivation. Irs tax forms for 2012 , Christmas trees. Irs tax forms for 2012 Club dues, Club dues and membership fees. Irs tax forms for 2012 Comments on publication, Comments and suggestions. Irs tax forms for 2012 Commodity Futures, Hedging (Commodity Futures) Wages, Noncash wages. Irs tax forms for 2012 Commodity Credit Corporation (CCC) Loans, Commodity Credit Corporation (CCC) Loans Market gain, Market Gain Community property, Community property. Irs tax forms for 2012 , Community property. Irs tax forms for 2012 Computer, software, Computer software. Irs tax forms for 2012 Condemnation, Casualties, Thefts, and Condemnations, Condemnation Conservation Cost-sharing exclusion, Conservation Expenses District assessments, Assessment by Conservation District Expenses, Conservation Expenses Plans, Conservation plan. Irs tax forms for 2012 Conservation Reserve Program, Conservation Reserve Program (CRP) payments. Irs tax forms for 2012 Conservation Reserve Program (CRP), Conservation Reserve Program (CRP) Constructing assets, Constructing assets. Irs tax forms for 2012 Constructive receipt of income, Constructive receipt. Irs tax forms for 2012 Contamination, Soil or other environmental contamination. Irs tax forms for 2012 Contract price, Contract price. Irs tax forms for 2012 Converted wetland, Converted Wetland and Highly Erodible Cropland Cooperatives, income from, Income From Cooperatives Cost-sharing exclusion, Cost-Sharing Exclusion (Improvements) Counter-cyclical payments, Direct payments and counter-cyclical payments. Irs tax forms for 2012 , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Credits Employment, Employment Credits Fuel tax, Fuel tax credit and refund. Irs tax forms for 2012 , How To Claim a Credit or Refund, Claiming a Credit Social security and Medicare, Earning credits in 2013. Irs tax forms for 2012 Social security coverage, How to become insured under social security. Irs tax forms for 2012 State unemployment tax, Tax rate and credit. Irs tax forms for 2012 Crew leaders, Crew Leaders Crop Destroyed, Standing crop destroyed by casualty. Irs tax forms for 2012 Insurance proceeds, Crop Insurance and Crop Disaster Payments Method of accounting, Crop method. Irs tax forms for 2012 Shares, Rents (Including Crop Shares) Unharvested, Cost of raising unharvested crops. Irs tax forms for 2012 , Section 1231 transactions. Irs tax forms for 2012 , Gain or loss. Irs tax forms for 2012 Cropland, highly erodible, Converted Wetland and Highly Erodible Cropland D Damage Casualties and thefts, Casualties and Thefts Crop insurance, Crop Insurance and Crop Disaster Payments Tree seedlings, Tree Seedlings Debt Bad, Nonbusiness bad debt. Irs tax forms for 2012 Canceled, Cancellation of Debt, Canceled debt excluded from income. Irs tax forms for 2012 , Cancellation of debt. Irs tax forms for 2012 , Canceled debt. Irs tax forms for 2012 Nonrecourse, Amount realized on a nonrecourse debt. Irs tax forms for 2012 Qualified farm, Qualified Farm Debt Qualified principal residence, Qualified Principal Residence Debt Recourse, Amount realized on a recourse debt. Irs tax forms for 2012 Depletion, Depletion Depreciation, Claiming the Special Depreciation Allowance ADS election, ADS election. Irs tax forms for 2012 Conservation assets, Depreciable conservation assets. Irs tax forms for 2012 Deduction, Overview of Depreciation Incorrect amount deducted, How Do You Correct Depreciation Deductions? Limit for automobiles, Limits for passenger automobiles. Irs tax forms for 2012 Listed property, Additional Rules for Listed Property Raised livestock, Livestock. Irs tax forms for 2012 Recapture, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Section 1250 Property When to file, Do You Have To File Form 4562? Depreciation allowable, Basis adjustment for depreciation allowed or allowable. Irs tax forms for 2012 Depreciation allowed, Basis adjustment for depreciation allowed or allowable. Irs tax forms for 2012 Direct payments, Direct payments and counter-cyclical payments. Irs tax forms for 2012 , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Disaster area losses, Disaster Area Losses Disaster payments, Crop Insurance and Crop Disaster Payments Disaster relief grants, Federal disaster relief grants. Irs tax forms for 2012 Disaster relief payments, Qualified disaster relief payments. Irs tax forms for 2012 Dispositions, Sale or other disposal of land during 9-year period. Irs tax forms for 2012 , Gain on sale of farmland. Irs tax forms for 2012 , Introduction Domestic production activities deduction, Domestic Production Activities Deduction Dyed diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Dyed kerosene, Dyed Diesel Fuel and Dyed Kerosene E e-file, Reminders Easement, Easements and rights-of-way. Irs tax forms for 2012 , Easements. Irs tax forms for 2012 Election ADS depreciation, Electing ADS. Irs tax forms for 2012 , ADS election. Irs tax forms for 2012 Amortization Business start-up costs, Business Start-Up Costs Reforestation costs, Reforestation Costs Crop method, Election to use crop method. Irs tax forms for 2012 Cutting of timber, Election to treat cutting as a sale or exchange. Irs tax forms for 2012 Deducting conservation expenses, When to Deduct or Capitalize Not excluding cost-sharing payments, Electing not to exclude payments. Irs tax forms for 2012 Out of installment method, Electing out of the installment method. Irs tax forms for 2012 Postponing casualty gain, Postponing Gain Postponing reporting crop insurance proceeds, Election to postpone reporting until the following year. Irs tax forms for 2012 Section 179 expense deduction, How Do You Elect the Deduction? Electronic filing, Reminders Embryo transplants, Transplanted embryo. Irs tax forms for 2012 Employer identification number, Reminders, Employer identification number (EIN). Irs tax forms for 2012 Endangered species recovery expenses, Endangered species recovery expenses. Irs tax forms for 2012 Environmental contamination, Soil or other environmental contamination. Irs tax forms for 2012 Estimated tax Farm gross income, Gross Income From Farming Gross income, Gross Income Penalties, Estimated Tax Penalty for 2013 Exchanges Basis Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Like-Kind Exchanges Excise taxes Credit, Claiming a Credit Diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Farming purposes, Fuels Used in Farming Home use of fuels, Fuels Used for Household Purposes or Other Than as a Fuel for Propulsion Engines Off-highway uses, Fuels Used in Off-Highway Business Use Refund, Claiming a Refund F Fair market value defined, Fair market value (FMV). Irs tax forms for 2012 , Fair market value (FMV). Irs tax forms for 2012 Family member Business expenses, Special rule for related persons. Irs tax forms for 2012 Installment sale, Sale to a related person. Irs tax forms for 2012 Like-kind exchange, Like-kind exchanges between related persons. Irs tax forms for 2012 Loss on sale or exchange of property, Losses from sales or exchanges between related persons. Irs tax forms for 2012 Personal-use property, Personal-use property. Irs tax forms for 2012 Social security coverage, Family Employees Farm Business expenses, Farm Business Expenses Business, defined, Business of Farming Defined, Farm defined. Irs tax forms for 2012 , Farm. Irs tax forms for 2012 Income averaging, Income Averaging for Farmers Rental, Farm rental. Irs tax forms for 2012 Sale of, Sale of a Farm Farmer, Farmer. Irs tax forms for 2012 Federal unemployment tax (FUTA), Federal Unemployment (FUTA) Tax Fertilizer, Fertilizer and Lime, Fertilizer and Lime Foreclosure, Foreclosure or Repossession Forestation costs, Forestation and reforestation costs. Irs tax forms for 2012 Form 1099-A, Form 1099-A. Irs tax forms for 2012 , Forms 1099-A and 1099-C. Irs tax forms for 2012 1099-C, Cancellation of Debt, Form 1099-C. Irs tax forms for 2012 , Forms 1099-A and 1099-C. Irs tax forms for 2012 1099-G, Market Gain, Payment to More Than One Person 1099-MISC, Reminders, Nonemployee compensation. Irs tax forms for 2012 1099-PATR, Form 1099-PATR. Irs tax forms for 2012 1128, Introduction 2210-F, Estimated Tax Penalty for 2013 3115, Changes in Methods of Accounting 4136, Claiming a Credit 4562, Do You Have To File Form 4562? 4797, Form 4797. Irs tax forms for 2012 , Recapture. Irs tax forms for 2012 , Reporting the exchange. Irs tax forms for 2012 4835, Rents (Including Crop Shares) 5213, Using the presumption later. Irs tax forms for 2012 6252, Form 6252. Irs tax forms for 2012 8822, Reminders 8824, Reporting the exchange. Irs tax forms for 2012 8849, Claiming a Refund 8886, Reminders 940, Form 940. Irs tax forms for 2012 943, Form 943. Irs tax forms for 2012 982, Form 982 I-9, Form I-9. Irs tax forms for 2012 SS-4, Reminders, Employer identification number (EIN). Irs tax forms for 2012 SS-5, Obtaining a social security number. Irs tax forms for 2012 T (Timber), Form T (Timber). Irs tax forms for 2012 W-2, Form W-2. Irs tax forms for 2012 W-4, Reminders, New hire reporting. Irs tax forms for 2012 , Form W-4. Irs tax forms for 2012 W-4V, Commodity Credit Corporation (CCC) Loans, Crop Insurance and Crop Disaster Payments W-7, Obtaining an individual taxpayer identification number. Irs tax forms for 2012 Free tax services, How To Get Tax Help, Free help with your tax return. Irs tax forms for 2012 Fuel tax credit or refund, Fuel tax credit and refund. Irs tax forms for 2012 , How To Claim a Credit or Refund G Gains and losses Basis of assets, Cost Basis Capital assets, defined, Capital Assets Casualty, How To Figure a Loss, Figuring a Gain Installment sales, Installment Sales Livestock, Livestock Long- or short-term, Long and Short Term Ordinary or capital, Ordinary or Capital Gain or Loss Sale of farm, Sale of a Farm Section 1231, Section 1231 Gains and Losses Theft, How To Figure a Loss, Figuring a Gain Timber, Timber General asset accounts, How Do You Use General Asset Accounts? Gifts, Crop shares you give to others (gift). Irs tax forms for 2012 , Cost related to gifts. Irs tax forms for 2012 , Property Received as a Gift, Gift. Irs tax forms for 2012 Going into business, Business Start-Up Costs Grants, disaster relief, Federal disaster relief grants. Irs tax forms for 2012 Gross profit percentage, Gross profit percentage. Irs tax forms for 2012 Gross profit, defined, Gross profit. Irs tax forms for 2012 Guarantee, Debt not payable on demand. Irs tax forms for 2012 H Health insurance deduction, Self-employed health insurance deduction. Irs tax forms for 2012 Hedging, Hedging (Commodity Futures) Help (see Tax help) Highway use tax, Highway use tax. Irs tax forms for 2012 Holding period, Holding period. Irs tax forms for 2012 Horticultural structure, Horticultural structure. Irs tax forms for 2012 I Illegal irrigation subsidy, Illegal federal irrigation subsidy. Irs tax forms for 2012 Important dates, Important Dates for 2014 Improvements, Cost-Sharing Exclusion (Improvements) Income Accounting for, Accounting Methods Accrual method of accounting, Income Canceled debt excluded, Cancellation of Debt From farming, Farm Income, Gross income from farming. Irs tax forms for 2012 , Gross Income From Farming Gross, Gross Income Not-for-profit farming, Not-for-Profit Farming Pasture, Pasture income and rental. Irs tax forms for 2012 Schedule F, Farm Income Withholding of tax, Federal Income Tax Withholding Income averaging (see Farm: Income averaging) Incorrect amount of depreciation deducted, How Do You Correct Depreciation Deductions? Individual taxpayer identification number (ITIN), Obtaining an individual taxpayer identification number. Irs tax forms for 2012 Inherited property, Inherited Property Insolvency, Insolvency. Irs tax forms for 2012 Installment sales, Form 6252. Irs tax forms for 2012 Electing out, Electing out of the installment method. Irs tax forms for 2012 Farm, sale of, Installment Sale of a Farm Figuring income, Figuring Installment Sale Income Reporting income, Form 6252. Irs tax forms for 2012 Unstated interest, Unstated interest. Irs tax forms for 2012 Insurance, Insurance, Self-employed health insurance deduction. Irs tax forms for 2012 Intangible property, Section 197 Intangibles Interest Expense, Interest Income, Interest income. Irs tax forms for 2012 Unstated, Unstated interest. Irs tax forms for 2012 Inventory Items included, Farm Inventory Methods of valuation, Inventory valuation methods. Irs tax forms for 2012 Involuntary conversions, Involuntary Conversions, Property acquired in a like-kind exchange or involuntary conversion. Irs tax forms for 2012 , Introduction Irrigation Illegal subsidy, Illegal federal irrigation subsidy. Irs tax forms for 2012 Project, Irrigation Project L Labor hired, Labor Hired Landlord participation, Landlord Participation in Farming Lease or purchase, Lease or Purchase Life tenant (see Term interests) Like-kind exchanges, Like-Kind Exchanges, Like-Kind Exchanges Lime, Fertilizer and Lime Limits At-risk, At-Risk Limits Business use of home, Deduction limit. Irs tax forms for 2012 Capital losses, Treatment of Capital Losses Conservation expenses, Assessment for Depreciable Property, 25% Limit on Deduction Depreciation Business-use, What Is the Business-Use Requirement? Excluded farm debt, Exclusion limit. Irs tax forms for 2012 Farm losses, Losses From Operating a Farm Loss of personal-use property, Deduction Limits on Losses of Personal-Use Property Not-for-profit farming, Not-for-Profit Farming Passive activity, Passive Activity Limits Percentage depletion, Taxable income limit. Irs tax forms for 2012 Prepaid farm supplies, Deduction limit. Irs tax forms for 2012 Reforestation costs, Reforestation Costs Section 179 expense deduction Automobile, Limits for passenger automobiles. Irs tax forms for 2012 Business income, Business Income Limit Dollar, Dollar Limits Time to keep records, How Long To Keep Records Listed property Defined, What Is Listed Property? Passenger automobile, Passenger automobiles. Irs tax forms for 2012 Rules, Additional Rules for Listed Property Livestock, Section 1231 transactions. Irs tax forms for 2012 Casualty and theft losses, Livestock or produce bought for resale. Irs tax forms for 2012 Crop shares, Crop shares you use to feed livestock. Irs tax forms for 2012 Depreciation, Livestock. Irs tax forms for 2012 Diseased, Diseased livestock. Irs tax forms for 2012 Feed assistance, Feed Assistance and Payments Immature, Immature livestock. Irs tax forms for 2012 Losses, Loss of livestock. Irs tax forms for 2012 , Livestock Purchased, Purchased livestock. Irs tax forms for 2012 Raised, Raised livestock. Irs tax forms for 2012 Sale of, Sales of Farm Products, Livestock Unit-livestock-price, inventory valuation, Unit-livestock-price method. Irs tax forms for 2012 Used in a farm business, Livestock used in farm business. Irs tax forms for 2012 Weather-related sales, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. Irs tax forms for 2012 Loans, Commodity Credit Corporation (CCC) Loans, Loan expenses. Irs tax forms for 2012 Losses At-risk limits, At-Risk Limits Casualty, Casualties, Thefts, and Condemnations Disaster areas, Disaster Area Losses Farming, Farming Losses Growing crops, Loss of growing plants, produce, and crops. Irs tax forms for 2012 Hobby farming, Not-for-Profit Farming Livestock, Livestock, Diseased livestock. Irs tax forms for 2012 Nondeductible, Other Nondeductible Items Theft, Casualties, Thefts, and Condemnations Lost income payments, Lost income payments. Irs tax forms for 2012 Lost property, Mislaid or lost property. Irs tax forms for 2012 M MACRS property Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. Irs tax forms for 2012 Like-kind exchange, Property acquired in a like-kind exchange or involuntary conversion. Irs tax forms for 2012 Nontaxable transfer, Property acquired in a nontaxable transfer. Irs tax forms for 2012 Market gain, reporting, Market Gain Marketing quota penalties, Marketing Quota Penalties Material participation, Landlord Participation in Farming Meals, Meals. Irs tax forms for 2012 Membership fees, Club dues and membership fees. Irs tax forms for 2012 Methods of accounting, Accounting Methods Modified ACRS (MACRS) ADS election, ADS election. Irs tax forms for 2012 Conventions, Which Convention Applies? Depreciation methods, Which Depreciation Method Applies? Exchange, Property acquired in a like-kind exchange or involuntary conversion. Irs tax forms for 2012 Figuring the deduction, How Is the Depreciation Deduction Figured? Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. Irs tax forms for 2012 Nontaxable transfer, Property acquired in a nontaxable transfer. Irs tax forms for 2012 Percentage tables, Rules for using the tables. Irs tax forms for 2012 Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? N New hire reporting, New hire reporting. Irs tax forms for 2012 Noncapital asset, Noncapital Assets Nontaxable exchanges, Like-Kind Exchanges Nontaxable transfer of MACRS property, Property acquired in a nontaxable transfer. Irs tax forms for 2012 Not-for-profit farming, Not-for-Profit Farming O Organizational costs, Business start-up and organizational costs. Irs tax forms for 2012 P Partners, limited, Limited partner. Irs tax forms for 2012 Partners, retired, Retired partner. Irs tax forms for 2012 Partners, Spouse, Business Owned and Operated by Spouses. Irs tax forms for 2012 Partnership, Partnership income or loss. Irs tax forms for 2012 Passenger automobile, Passenger automobiles. Irs tax forms for 2012 Pasture income, Pasture income and rental. Irs tax forms for 2012 Patronage dividends, Patronage Dividends Payments considered received, Payments Received or Considered Received Payments received, Payments Received or Considered Received Penalties Estimated tax, Estimated Tax Penalty for 2013 Returns, Estimated Tax Penalty for 2013 Trust fund recovery, Trust fund recovery penalty. Irs tax forms for 2012 Per-unit retain certificates, Per-Unit Retain Certificates Personal expenses, Personal, Living, and Family Expenses Placed in service, Placed in Service, What Is the Placed-in-Service Date? Postponing casualty gain, Postponing Gain Prepaid expense Advance premiums, Advance premiums. Irs tax forms for 2012 Extends useful life, Prepayment. Irs tax forms for 2012 Farm supplies, Prepaid Farm Supplies Livestock feed, Prepaid Livestock Feed Prizes, Prizes. Irs tax forms for 2012 Produce, Sales of Farm Products Property Changed to business use, Property changed from personal to business or rental use. Irs tax forms for 2012 Received for services, Property received for services. Irs tax forms for 2012 Repairs and improvements, How Do You Treat Repairs and Improvements? Section 1231, Section 1231 transactions. Irs tax forms for 2012 Section 1245, Section 1245 Property Section 1250, Section 1250 Property Section 1252, Section 1252 property. Irs tax forms for 2012 Section 1255, Section 1255 property. Irs tax forms for 2012 Tangible personal, Tangible personal property. Irs tax forms for 2012 Publications (see Tax help) Q Qualified disaster relief payments, Qualified disaster relief payments. Irs tax forms for 2012 Qualified farm debt, Qualified Farm Debt Qualified joint venture, Qualified joint venture. Irs tax forms for 2012 Qualified principal residence debt, Qualified Principal Residence Debt R Recapture Amortization, Depreciation and amortization. Irs tax forms for 2012 Basis reductions, Recapture of basis reductions. Irs tax forms for 2012 Certain depreciation, Recapture of certain depreciation. Irs tax forms for 2012 Cost-sharing payments, Recapture. Irs tax forms for 2012 Depreciation, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Depreciation recapture. Irs tax forms for 2012 Section 1245 property, Section 1245 Property Section 1250 property, Section 1250 Property Section 179 expense deduction, When Must You Recapture the Deduction? Section 179 GO Zone property, Recapture for qualified section 179 GO Zone property. Irs tax forms for 2012 Special depreciation allowance, When Must You Recapture an Allowance Recordkeeping, Importance of Records, Meals. Irs tax forms for 2012 Records on depreciable property, Depreciation Recapture Reforestation costs, Forestation and reforestation costs. Irs tax forms for 2012 , Reforestation Costs Refund Deduction taken, Refund or reimbursement. Irs tax forms for 2012 Fuel tax, Fuel tax credit and refund. Irs tax forms for 2012 , Including the Credit or Refund in Income Reimbursements Casualties and thefts, Casualty and theft losses. Irs tax forms for 2012 , Casualties and Thefts, Insurance and other reimbursements. Irs tax forms for 2012 Deduction taken, Refund or reimbursement. Irs tax forms for 2012 Expenses, Reimbursed expenses. Irs tax forms for 2012 Feed assistance, Feed Assistance and Payments Real estate taxes, Real estate taxes. Irs tax forms for 2012 Reforestation expenses, Qualifying costs. Irs tax forms for 2012 To employees, Reimbursements to employees. Irs tax forms for 2012 Related persons, Special rule for related persons. Irs tax forms for 2012 , Losses from sales or exchanges between related persons. Irs tax forms for 2012 , Special rules for related persons. Irs tax forms for 2012 , Like-kind exchanges between related persons. Irs tax forms for 2012 , Sale to a related person. Irs tax forms for 2012 , Buying replacement property from a related person. Irs tax forms for 2012 , Related persons. Irs tax forms for 2012 Rental income, Rents (Including Crop Shares) Rented property, improvements, Improvements to rented property. Irs tax forms for 2012 Repairs, Repairs and Maintenance Repairs and improvements, How Do You Treat Repairs and Improvements? Repayment of income, Repayment of income. Irs tax forms for 2012 Replacement Period, Replacement Period Property, Replacement Property Reportable transactions. Irs tax forms for 2012 , Reminders Repossessions, Foreclosure or Repossession Right-of-way income, Easements and rights-of-way. Irs tax forms for 2012 S Sale of home, Sale of your home. Irs tax forms for 2012 Section 179 expense deduction, Section 179 Expense Deduction How to elect, How Do You Elect the Deduction? Listed property, Additional Rules for Listed Property Qualifying property, What Property Qualifies? Recapture, When Must You Recapture the Deduction? Self-employed health insurance, Self-employed health insurance deduction. Irs tax forms for 2012 Self-employed health insurance deduction, Self-employed health insurance deduction. Irs tax forms for 2012 Self-employment tax Community property, Community property. Irs tax forms for 2012 Deduction, Deduction for employer-equivalent portion of self-employment tax. Irs tax forms for 2012 How to pay, How To Pay Self-Employment Tax Landlord participation, Landlord Participation in Farming Material participation, Material participation for landlords. Irs tax forms for 2012 Maximum net earnings, What's New for 2013 Methods for figuring net earnings, Methods for Figuring Net Earnings Optional method, Farm Optional Method Regular method, Regular Method Rental income, Landlord Participation in Farming Reporting, Reporting Self-Employment Tax Self-employment tax rate, Self-employment tax rate. Irs tax forms for 2012 Share farming, Share farmer. Irs tax forms for 2012 Tax rates, What's New for 2013 Who must pay, Who Must Pay Self-Employment Tax? Selling expenses, Selling expenses. Irs tax forms for 2012 Selling price Defined, Selling price. Irs tax forms for 2012 Reduced, Selling price reduced. Irs tax forms for 2012 Settlement costs (fees), Settlement costs. Irs tax forms for 2012 Social security and Medicare Credits of coverage, Earning credits in 2013. Irs tax forms for 2012 Withholding of tax, Social Security and Medicare Taxes Social security number, Obtaining a social security number. Irs tax forms for 2012 Software, computer, Computer software. Irs tax forms for 2012 Soil Conservation, Conservation Expenses Contamination, Soil or other environmental contamination. Irs tax forms for 2012 Special depreciation allowance How to elect not to claim, How Can You Elect Not To Claim the Allowance? Recapture, When Must You Recapture an Allowance Standard mileage rate, Standard mileage rate. Irs tax forms for 2012 Start-up costs for businesses, Business start-up and organizational costs. Irs tax forms for 2012 Suggestions for publication, Comments and suggestions. Irs tax forms for 2012 T Tangible personal property, Tangible personal property. Irs tax forms for 2012 Tax help, How To Get Tax Help Tax preparation fees, Tax preparation fees. Irs tax forms for 2012 Tax shelter At-risk limits, At-Risk Limits Defined, Tax shelter. Irs tax forms for 2012 Tax-free exchanges, Like-Kind Exchanges Taxes Excise, Excise Taxes Federal use, Highway use tax. Irs tax forms for 2012 General, Taxes Self-employment, Self-Employment Tax State and federal, State and federal income taxes. Irs tax forms for 2012 State and local general sales, State and local general sales taxes. Irs tax forms for 2012 Withholding, Federal income tax withholding. Irs tax forms for 2012 , Social Security and Medicare Taxes, Federal Income Tax Withholding Telephone expense, Telephone expense. Irs tax forms for 2012 Tenant house expenses, Tenant House Expenses Term interests, Certain term interests in property. Irs tax forms for 2012 Theft losses, Casualties, Thefts, and Condemnations Timber, Timber. Irs tax forms for 2012 , Timber Depletion, Timber Tobacco quota buyout payments, Tobacco Quota Buyout Program Payments Tobacco settlement payments, National Tobacco Growers' Settlement Trust Fund Payments Trade-in, Sale and Purchase Travel expenses, Travel Expenses Truck expenses, Truck and Car Expenses Trust fund recovery penalty, Trust fund recovery penalty. Irs tax forms for 2012 TTY/TDD information, How To Get Tax Help U Uniform capitalization rules Basis of assets, Uniform Capitalization Rules Inventory, Uniform capitalization rules. Irs tax forms for 2012 Unstated interest, Unstated interest. Irs tax forms for 2012 W Wages and salaries, Wages and salaries. Irs tax forms for 2012 Water conservation, Conservation Expenses Water well, Water well. Irs tax forms for 2012 , Water wells. Irs tax forms for 2012 Weather-related sales, livestock, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. Irs tax forms for 2012 Withholding Income tax, Federal Income Tax Withholding Social security and Medicare tax, Social Security and Medicare Taxes Prev  Up     Home   More Online Publications
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The Irs Tax Forms For 2012

Irs tax forms for 2012 3. Irs tax forms for 2012   SIMPLE Plans Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: SIMPLE IRA PlanWho Can Set Up a SIMPLE IRA Plan? Who Can Participate in a SIMPLE IRA Plan? How To Set Up a SIMPLE IRA Plan Notification Requirement Contribution Limits When To Deduct Contributions Where To Deduct Contributions Tax Treatment of Contributions Distributions (Withdrawals) More Information on SIMPLE IRA Plans SIMPLE 401(k) Plan Topics - This chapter discusses: SIMPLE IRA plan SIMPLE 401(k) plan Useful Items - You may want to see: Publications 590 Individual Retirement Arrangements (IRAs) 3998 Choosing A Retirement Solution for Your Small Business 4284 SIMPLE IRA Plan Checklist 4334 SIMPLE IRA Plans for Small Businesses Forms (and Instructions) W-2 Wage and Tax Statement 5304-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–Not for Use With a Designated Financial Institution 5305-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–for Use With a Designated Financial Institution 8880 Credit for Qualified Retirement Savings Contributions 8881 Credit for Small Employer Pension Plan Startup Costs A savings incentive match plan for employees (SIMPLE plan) is a written arrangement that provides you and your employees with a simplified way to make contributions to provide retirement income. Irs tax forms for 2012 Under a SIMPLE plan, employees can choose to make salary reduction contributions to the plan rather than receiving these amounts as part of their regular pay. Irs tax forms for 2012 In addition, you will contribute matching or nonelective contributions. Irs tax forms for 2012 SIMPLE plans can only be maintained on a calendar-year basis. Irs tax forms for 2012 A SIMPLE plan can be set up in either of the following ways. Irs tax forms for 2012 Using SIMPLE IRAs (SIMPLE IRA plan). Irs tax forms for 2012 As part of a 401(k) plan (SIMPLE 401(k) plan). Irs tax forms for 2012 Many financial institutions will help you set up a SIMPLE plan. Irs tax forms for 2012 SIMPLE IRA Plan A SIMPLE IRA plan is a retirement plan that uses SIMPLE IRAs for each eligible employee. Irs tax forms for 2012 Under a SIMPLE IRA plan, a SIMPLE IRA must be set up for each eligible employee. Irs tax forms for 2012 For the definition of an eligible employee, see Who Can Participate in a SIMPLE IRA Plan , later. Irs tax forms for 2012 Who Can Set Up a SIMPLE IRA Plan? You can set up a SIMPLE IRA plan if you meet both the following requirements. Irs tax forms for 2012 You meet the employee limit. Irs tax forms for 2012 You do not maintain another qualified plan unless the other plan is for collective bargaining employees. Irs tax forms for 2012 Employee limit. Irs tax forms for 2012   You can set up a SIMPLE IRA plan only if you had 100 or fewer employees who received $5,000 or more in compensation from you for the preceding year. Irs tax forms for 2012 Under this rule, you must take into account all employees employed at any time during the calendar year regardless of whether they are eligible to participate. Irs tax forms for 2012 Employees include self-employed individuals who received earned income and leased employees (defined in chapter 1). Irs tax forms for 2012   Once you set up a SIMPLE IRA plan, you must continue to meet the 100-employee limit each year you maintain the plan. Irs tax forms for 2012 Grace period for employers who cease to meet the 100-employee limit. Irs tax forms for 2012   If you maintain the SIMPLE IRA plan for at least 1 year and you cease to meet the 100-employee limit in a later year, you will be treated as meeting it for the 2 calendar years immediately following the calendar year for which you last met it. Irs tax forms for 2012   A different rule applies if you do not meet the 100-employee limit because of an acquisition, disposition, or similar transaction. Irs tax forms for 2012 Under this rule, the SIMPLE IRA plan will be treated as meeting the 100-employee limit for the year of the transaction and the 2 following years if both the following conditions are satisfied. Irs tax forms for 2012 Coverage under the plan has not significantly changed during the grace period. Irs tax forms for 2012 The SIMPLE IRA plan would have continued to qualify after the transaction if you had remained a separate employer. Irs tax forms for 2012    The grace period for acquisitions, dispositions, and similar transactions also applies if, because of these types of transactions, you do not meet the rules explained under Other qualified plan or Who Can Participate in a SIMPLE IRA Plan, below. Irs tax forms for 2012 Other qualified plan. Irs tax forms for 2012   The SIMPLE IRA plan generally must be the only retirement plan to which you make contributions, or to which benefits accrue, for service in any year beginning with the year the SIMPLE IRA plan becomes effective. Irs tax forms for 2012 Exception. Irs tax forms for 2012   If you maintain a qualified plan for collective bargaining employees, you are permitted to maintain a SIMPLE IRA plan for other employees. Irs tax forms for 2012 Who Can Participate in a SIMPLE IRA Plan? Eligible employee. Irs tax forms for 2012   Any employee who received at least $5,000 in compensation during any 2 years preceding the current calendar year and is reasonably expected to receive at least $5,000 during the current calendar year is eligible to participate. Irs tax forms for 2012 The term “employee” includes a self-employed individual who received earned income. Irs tax forms for 2012   You can use less restrictive eligibility requirements (but not more restrictive ones) by eliminating or reducing the prior year compensation requirements, the current year compensation requirements, or both. Irs tax forms for 2012 For example, you can allow participation for employees who received at least $3,000 in compensation during any preceding calendar year. Irs tax forms for 2012 However, you cannot impose any other conditions for participating in a SIMPLE IRA plan. Irs tax forms for 2012 Excludable employees. Irs tax forms for 2012   The following employees do not need to be covered under a SIMPLE IRA plan. Irs tax forms for 2012 Employees who are covered by a union agreement and whose retirement benefits were bargained for in good faith by the employees' union and you. Irs tax forms for 2012 Nonresident alien employees who have received no U. Irs tax forms for 2012 S. Irs tax forms for 2012 source wages, salaries, or other personal services compensation from you. Irs tax forms for 2012 Compensation. Irs tax forms for 2012   Compensation for employees is the total wages, tips, and other compensation from the employer subject to federal income tax withholding and the amounts paid for domestic service in a private home, local college club, or local chapter of a college fraternity or sorority. Irs tax forms for 2012 Compensation also includes the employee's salary reduction contributions made under this plan and, if applicable, elective deferrals under a section 401(k) plan, a SARSEP, or a section 403(b) annuity contract and compensation deferred under a section 457 plan required to be reported by the employer on Form W-2. Irs tax forms for 2012 If you are self-employed, compensation is your net earnings from self-employment (line 4 of Short Schedule SE or line 6 of Long Schedule SE (Form 1040)) before subtracting any contributions made to the SIMPLE IRA plan for yourself. Irs tax forms for 2012 How To Set Up a SIMPLE IRA Plan You can use Form 5304-SIMPLE or Form 5305-SIMPLE to set up a SIMPLE IRA plan. Irs tax forms for 2012 Each form is a model savings incentive match plan for employees (SIMPLE) plan document. Irs tax forms for 2012 Which form you use depends on whether you select a financial institution or your employees select the institution that will receive the contributions. Irs tax forms for 2012 Use Form 5304-SIMPLE if you allow each plan participant to select the financial institution for receiving his or her SIMPLE IRA plan contributions. Irs tax forms for 2012 Use Form 5305-SIMPLE if you require that all contributions under the SIMPLE IRA plan be deposited initially at a designated financial institution. Irs tax forms for 2012 The SIMPLE IRA plan is adopted when you have completed all appropriate boxes and blanks on the form and you (and the designated financial institution, if any) have signed it. Irs tax forms for 2012 Keep the original form. Irs tax forms for 2012 Do not file it with the IRS. Irs tax forms for 2012 Other uses of the forms. Irs tax forms for 2012   If you set up a SIMPLE IRA plan using Form 5304-SIMPLE or Form 5305-SIMPLE, you can use the form to satisfy other requirements, including the following. Irs tax forms for 2012 Meeting employer notification requirements for the SIMPLE IRA plan. Irs tax forms for 2012 Form 5304-SIMPLE and Form 5305-SIMPLE contain a Model Notification to Eligible Employees that provides the necessary information to the employee. Irs tax forms for 2012 Maintaining the SIMPLE IRA plan records and proving you set up a SIMPLE IRA plan for employees. Irs tax forms for 2012 Deadline for setting up a SIMPLE IRA plan. Irs tax forms for 2012   You can set up a SIMPLE IRA plan effective on any date from January 1 through October 1 of a year, provided you did not previously maintain a SIMPLE IRA plan. Irs tax forms for 2012 This requirement does not apply if you are a new employer that comes into existence after October 1 of the year the SIMPLE IRA plan is set up and you set up a SIMPLE IRA plan as soon as administratively feasible after your business comes into existence. Irs tax forms for 2012 If you previously maintained a SIMPLE IRA plan, you can set up a SIMPLE IRA plan effective only on January 1 of a year. Irs tax forms for 2012 A SIMPLE IRA plan cannot have an effective date that is before the date you actually adopt the plan. Irs tax forms for 2012 Setting up a SIMPLE IRA. Irs tax forms for 2012   SIMPLE IRAs are the individual retirement accounts or annuities into which the contributions are deposited. Irs tax forms for 2012 A SIMPLE IRA must be set up for each eligible employee. Irs tax forms for 2012 Forms 5305-S, SIMPLE Individual Retirement Trust Account, and 5305-SA, SIMPLE Individual Retirement Custodial Account, are model trust and custodial account documents the participant and the trustee (or custodian) can use for this purpose. Irs tax forms for 2012   A SIMPLE IRA cannot be a Roth IRA. Irs tax forms for 2012 Contributions to a SIMPLE IRA will not affect the amount an individual can contribute to a Roth or traditional IRA. Irs tax forms for 2012 Deadline for setting up a SIMPLE IRA. Irs tax forms for 2012   A SIMPLE IRA must be set up for an employee before the first date by which a contribution is required to be deposited into the employee's IRA. Irs tax forms for 2012 See Time limits for contributing funds , later, under Contribution Limits. Irs tax forms for 2012 Credit for startup costs. Irs tax forms for 2012   You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SIMPLE IRA plan that first became effective in 2013. Irs tax forms for 2012 For more information, see Credit for startup costs under Reminders, earlier. Irs tax forms for 2012 Notification Requirement If you adopt a SIMPLE IRA plan, you must notify each employee of the following information before the beginning of the election period. Irs tax forms for 2012 The employee's opportunity to make or change a salary reduction choice under a SIMPLE IRA plan. Irs tax forms for 2012 Your decision to make either matching contributions or nonelective contributions (discussed later). Irs tax forms for 2012 A summary description provided by the financial institution. Irs tax forms for 2012 Written notice that his or her balance can be transferred without cost or penalty if they use a designated financial institution. Irs tax forms for 2012 Election period. Irs tax forms for 2012   The election period is generally the 60-day period immediately preceding January 1 of a calendar year (November 2 to December 31 of the preceding calendar year). Irs tax forms for 2012 However, the dates of this period are modified if you set up a SIMPLE IRA plan in mid-year (for example, on July 1) or if the 60-day period falls before the first day an employee becomes eligible to participate in the SIMPLE IRA plan. Irs tax forms for 2012   A SIMPLE IRA plan can provide longer periods for permitting employees to enter into salary reduction agreements or to modify prior agreements. Irs tax forms for 2012 For example, a SIMPLE IRA plan can provide a 90-day election period instead of the 60-day period. Irs tax forms for 2012 Similarly, in addition to the 60-day period, a SIMPLE IRA plan can provide quarterly election periods during the 30 days before each calendar quarter, other than the first quarter of each year. Irs tax forms for 2012 Contribution Limits Contributions are made up of salary reduction contributions and employer contributions. Irs tax forms for 2012 You, as the employer, must make either matching contributions or nonelective contributions, defined later. Irs tax forms for 2012 No other contributions can be made to the SIMPLE IRA plan. Irs tax forms for 2012 These contributions, which you can deduct, must be made timely. Irs tax forms for 2012 See Time limits for contributing funds , later. Irs tax forms for 2012 Salary reduction contributions. Irs tax forms for 2012   The amount the employee chooses to have you contribute to a SIMPLE IRA on his or her behalf cannot be more than $12,000 for 2013 and 2014. Irs tax forms for 2012 These contributions must be expressed as a percentage of the employee's compensation unless you permit the employee to express them as a specific dollar amount. Irs tax forms for 2012 You cannot place restrictions on the contribution amount (such as limiting the contribution percentage), except to comply with the $12,000 limit. Irs tax forms for 2012   If you or an employee participates in any other qualified plan during the year and you or your employee have salary reduction contributions (elective deferrals) under those plans, the salary reduction contributions under a SIMPLE IRA plan also count toward the overall annual limit ($17,500 for 2013 and 2014) on exclusion of salary reduction contributions and other elective deferrals. Irs tax forms for 2012 Catch-up contributions. Irs tax forms for 2012   A SIMPLE IRA plan can permit participants who are age 50 or over at the end of the calendar year to also make catch-up contributions. Irs tax forms for 2012 The catch-up contribution limit for 2013 and 2014 for SIMPLE IRA plans is $2,500. Irs tax forms for 2012 Salary reduction contributions are not treated as catch-up contributions for 2013 or 2014 until they exceed $12,000. Irs tax forms for 2012 However, the catch-up contribution a participant can make for a year cannot exceed the lesser of the following amounts. Irs tax forms for 2012 The catch-up contribution limit. Irs tax forms for 2012 The excess of the participant's compensation over the salary reduction contributions that are not catch-up contributions. Irs tax forms for 2012 Employer matching contributions. Irs tax forms for 2012   You are generally required to match each employee's salary reduction contributions on a dollar-for-dollar basis up to 3% of the employee's compensation. Irs tax forms for 2012 This requirement does not apply if you make nonelective contributions as discussed later. Irs tax forms for 2012 Example. Irs tax forms for 2012 In 2013, your employee, John Rose, earned $25,000 and chose to defer 5% of his salary. Irs tax forms for 2012 Your net earnings from self-employment are $40,000, and you choose to contribute 10% of your earnings to your SIMPLE IRA. Irs tax forms for 2012 You make 3% matching contributions. Irs tax forms for 2012 The total contribution you make for John is $2,000, figured as follows. Irs tax forms for 2012 Salary reduction contributions ($25,000 × . Irs tax forms for 2012 05) $1,250 Employer matching contribution ($25,000 × . Irs tax forms for 2012 03) 750 Total contributions $2,000     The total contribution you make for yourself is $5,200, figured as follows. Irs tax forms for 2012 Salary reduction contributions ($40,000 × . Irs tax forms for 2012 10) $4,000 Employer matching contribution ($40,000 × . Irs tax forms for 2012 03) 1,200 Total contributions $5,200 Lower percentage. Irs tax forms for 2012   If you choose a matching contribution less than 3%, the percentage must be at least 1%. Irs tax forms for 2012 You must notify the employees of the lower match within a reasonable period of time before the 60-day election period (discussed earlier) for the calendar year. Irs tax forms for 2012 You cannot choose a percentage less than 3% for more than 2 years during the 5-year period that ends with (and includes) the year for which the choice is effective. Irs tax forms for 2012 Nonelective contributions. Irs tax forms for 2012   Instead of matching contributions, you can choose to make nonelective contributions of 2% of compensation on behalf of each eligible employee who has at least $5,000 (or some lower amount you select) of compensation from you for the year. Irs tax forms for 2012 If you make this choice, you must make nonelective contributions whether or not the employee chooses to make salary reduction contributions. Irs tax forms for 2012 Only $255,000 of the employee's compensation can be taken into account to figure the contribution limit in 2013 ($260,000 in 2014). Irs tax forms for 2012   If you choose this 2% contribution formula, you must notify the employees within a reasonable period of time before the 60-day election period (discussed earlier) for the calendar year. Irs tax forms for 2012 Example 1. Irs tax forms for 2012 In 2013, your employee, Jane Wood, earned $36,000 and chose to have you contribute 10% of her salary. Irs tax forms for 2012 Your net earnings from self-employment are $50,000, and you choose to contribute 10% of your earnings to your SIMPLE IRA. Irs tax forms for 2012 You make a 2% nonelective contribution. Irs tax forms for 2012 Both of you are under age 50. Irs tax forms for 2012 The total contribution you make for Jane is $4,320, figured as follows. Irs tax forms for 2012 Salary reduction contributions ($36,000 × . Irs tax forms for 2012 10) $3,600 2% nonelective contributions ($36,000 × . Irs tax forms for 2012 02) 720 Total contributions $4,320     The total contribution you make for yourself is $6,000, figured as follows. Irs tax forms for 2012 Salary reduction contributions ($50,000 × . Irs tax forms for 2012 10) $5,000 2% nonelective contributions ($50,000 × . Irs tax forms for 2012 02) 1,000 Total contributions $6,000 Example 2. Irs tax forms for 2012 Using the same facts as in Example 1, above, the maximum contribution you make for Jane or for yourself if you each earned $75,000 is $13,500, figured as follows. Irs tax forms for 2012 Salary reduction contributions (maximum amount allowed) $12,000 2% nonelective contributions ($75,000 × . Irs tax forms for 2012 02) 1,500 Total contributions $13,500 Time limits for contributing funds. Irs tax forms for 2012   You must make the salary reduction contributions to the SIMPLE IRA within 30 days after the end of the month in which the amounts would otherwise have been payable to the employee in cash. Irs tax forms for 2012 You must make matching contributions or nonelective contributions by the due date (including extensions) for filing your federal income tax return for the year. Irs tax forms for 2012 Certain plans subject to Department of Labor rules may have an earlier due date for salary reduction contributions. Irs tax forms for 2012 When To Deduct Contributions You can deduct SIMPLE IRA contributions in the tax year within which the calendar year for which contributions were made ends. Irs tax forms for 2012 You can deduct contributions for a particular tax year if they are made for that tax year and are made by the due date (including extensions) of your federal income tax return for that year. Irs tax forms for 2012 Example 1. Irs tax forms for 2012 Your tax year is the fiscal year ending June 30. Irs tax forms for 2012 Contributions under a SIMPLE IRA plan for the calendar year 2013 (including contributions made in 2013 before July 1, 2013) are deductible in the tax year ending June 30, 2014. Irs tax forms for 2012 Example 2. Irs tax forms for 2012 You are a sole proprietor whose tax year is the calendar year. Irs tax forms for 2012 Contributions under a SIMPLE IRA plan for the calendar year 2013 (including contributions made in 2014 by April 15, 2014) are deductible in the 2013 tax year. Irs tax forms for 2012 Where To Deduct Contributions Deduct the contributions you make for your common-law employees on your tax return. Irs tax forms for 2012 For example, sole proprietors deduct them on Schedule C (Form 1040) or Schedule F (Form 1040); partnerships deduct them on Form 1065; and corporations deduct them on Form 1120 or Form 1120S. Irs tax forms for 2012 Sole proprietors and partners deduct contributions for themselves on line 28 of Form 1040. Irs tax forms for 2012 (If you are a partner, contributions for yourself are shown on the Schedule K-1 (Form 1065) you receive from the partnership. Irs tax forms for 2012 ) Tax Treatment of Contributions You can deduct your contributions and your employees can exclude these contributions from their gross income. Irs tax forms for 2012 SIMPLE IRA plan contributions are not subject to federal income tax withholding. Irs tax forms for 2012 However, salary reduction contributions are subject to social security, Medicare, and federal unemployment (FUTA) taxes. Irs tax forms for 2012 Matching and nonelective contributions are not subject to these taxes. Irs tax forms for 2012 Reporting on Form W-2. Irs tax forms for 2012   Do not include SIMPLE IRA plan contributions in the “Wages, tips, other compensation” box of Form W-2. Irs tax forms for 2012 You must, however, include them in the “Social security wages” and “Medicare wages and tips” boxes. Irs tax forms for 2012 You must also include them in box 12. Irs tax forms for 2012 Mark the “Retirement plan” checkbox in box 13. Irs tax forms for 2012 For more information, see the Form W-2 instructions. Irs tax forms for 2012 Distributions (Withdrawals) Distributions from a SIMPLE IRA are subject to IRA rules and generally are includible in income for the year received. Irs tax forms for 2012 Tax-free rollovers can be made from one SIMPLE IRA into another SIMPLE IRA. Irs tax forms for 2012 However, a rollover from a SIMPLE IRA to a non-SIMPLE IRA can be made tax free only after a 2-year participation in the SIMPLE IRA plan. Irs tax forms for 2012 Generally, you or your employee must begin to receive distributions from a SIMPLE IRA by April 1 of the first year after the calendar year in which you or your employee reaches age 70½. Irs tax forms for 2012 Early withdrawals generally are subject to a 10% additional tax. Irs tax forms for 2012 However, the additional tax is increased to 25% if funds are withdrawn within 2 years of beginning participation. Irs tax forms for 2012 More information. Irs tax forms for 2012   See Publication 590 for information about IRA rules, including those on the tax treatment of distributions, rollovers, required distributions, and income tax withholding. Irs tax forms for 2012 More Information on SIMPLE IRA Plans If you need help to set up or maintain a SIMPLE IRA plan, go to the IRS website and search SIMPLE IRA Plan. Irs tax forms for 2012 SIMPLE 401(k) Plan You can adopt a SIMPLE plan as part of a 401(k) plan if you meet the 100-employee limit as discussed earlier under SIMPLE IRA Plan. Irs tax forms for 2012 A SIMPLE 401(k) plan is a qualified retirement plan and generally must satisfy the rules discussed under Qualification Rules in chapter 4, including the required distribution rules. Irs tax forms for 2012 However, a SIMPLE 401(k) plan is not subject to the nondiscrimination and top-heavy rules discussed in chapter 4 if the plan meets the conditions listed below. Irs tax forms for 2012 Under the plan, an employee can choose to have you make salary reduction contributions for the year to a trust in an amount expressed as a percentage of the employee's compensation, but not more than $12,000 for 2013 and 2014. Irs tax forms for 2012 If permitted under the plan, an employee who is age 50 or over can also make a catch-up contribution of up to $2,500 for 2013 and 2014. Irs tax forms for 2012 See Catch-up contributions , earlier under Contribution Limits. Irs tax forms for 2012 You must make either: Matching contributions up to 3% of compensation for the year, or Nonelective contributions of 2% of compensation on behalf of each eligible employee who has at least $5,000 of compensation from you for the year. Irs tax forms for 2012 No other contributions can be made to the trust. Irs tax forms for 2012 No contributions are made, and no benefits accrue, for services during the year under any other qualified retirement plan sponsored by you on behalf of any employee eligible to participate in the SIMPLE 401(k) plan. Irs tax forms for 2012 The employee's rights to any contributions are nonforfeitable. Irs tax forms for 2012 No more than $255,000 of the employee's compensation can be taken into account in figuring matching contributions and nonelective contributions in 2013 ($260,000 in 2014). Irs tax forms for 2012 Compensation is defined earlier in this chapter. Irs tax forms for 2012 Employee notification. Irs tax forms for 2012   The notification requirement that applies to SIMPLE IRA plans also applies to SIMPLE 401(k) plans. Irs tax forms for 2012 See Notification Requirement in this chapter. Irs tax forms for 2012 Credit for startup costs. Irs tax forms for 2012   You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SIMPLE 401(k) plan that first became effective in 2013. Irs tax forms for 2012 For more information, see Credit for startup costs under Reminders, earlier. Irs tax forms for 2012 Note on Forms. Irs tax forms for 2012   Please note that Forms 5304-SIMPLE and 5305-SIMPLE can not be used to establish a SIMPLE 401(k) plan. Irs tax forms for 2012 To set up a SIMPLE 401(k) plan, see Adopting a Written Plan in chapter 4. Irs tax forms for 2012 Prev  Up  Next   Home   More Online Publications