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Military Tax Returns

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Military Tax Returns

Military tax returns Index A Abandonment, Abandonment Accounting method Accrual, Accrual Method Cash, Cash Method Change in, Changes in Methods of Accounting Crop, Crop method. Military tax returns 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. Military tax returns Adjusted basis for installment sale, Adjusted basis for installment sale purposes. Military tax returns Adjusted basis of assets, Adjusted Basis Agricultural activity codes, Schedule F, Reminders Agricultural program payments, Agricultural Program Payments Agricultural structure, defined, Agricultural structure. Military tax returns Alternative Depreciation System (ADS), Required use of ADS. Military tax returns , ADS election. Military tax returns 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. Military tax returns B Bankruptcy, Bankruptcy. Military tax returns Barter income, Barter income. Military tax returns Basis Adjusted, Adjusted basis. Military tax returns Installment sale, Adjusted basis for installment sale purposes. Military tax returns Involuntary conversion, Basis for depreciation. Military tax returns Like-kind exchange, Basis for depreciation. Military tax returns Partner's basis, Property Distributed From a Partnership or Corporation Replacement property, Basis of replacement property. Military tax returns 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. Military tax returns Constructing assets, Constructing assets. Military tax returns 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. Military tax returns Uniform capitalization rules, Uniform Capitalization Rules Below-market loans, Below-market loans. Military tax returns 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. Military tax returns Casualty, defined, Casualty. Military tax returns Disaster area losses, Disaster Area Losses Leased property, Leased property. Military tax returns Livestock, Livestock or produce bought for resale. Military tax returns , Raised draft, breeding, dairy, or sporting animals. Military tax returns Reimbursement, Insurance and other reimbursements. Military tax returns Reporting gains and losses, Reporting Gains and Losses Theft, defined, Theft. Military tax returns Change in accounting method, Changes in Methods of Accounting Chickens, purchased, Chickens, seeds, and young plants. Military tax returns Christmas trees, Christmas tree cultivation. Military tax returns , Christmas trees. Military tax returns Club dues, Club dues and membership fees. Military tax returns Comments on publication, Comments and suggestions. Military tax returns Commodity Futures, Hedging (Commodity Futures) Wages, Noncash wages. Military tax returns Commodity Credit Corporation (CCC) Loans, Commodity Credit Corporation (CCC) Loans Market gain, Market Gain Community property, Community property. Military tax returns , Community property. Military tax returns Computer, software, Computer software. Military tax returns Condemnation, Casualties, Thefts, and Condemnations, Condemnation Conservation Cost-sharing exclusion, Conservation Expenses District assessments, Assessment by Conservation District Expenses, Conservation Expenses Plans, Conservation plan. Military tax returns Conservation Reserve Program, Conservation Reserve Program (CRP) payments. Military tax returns Conservation Reserve Program (CRP), Conservation Reserve Program (CRP) Constructing assets, Constructing assets. Military tax returns Constructive receipt of income, Constructive receipt. Military tax returns Contamination, Soil or other environmental contamination. Military tax returns Contract price, Contract price. Military tax returns 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. Military tax returns , 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. Military tax returns , How To Claim a Credit or Refund, Claiming a Credit Social security and Medicare, Earning credits in 2013. Military tax returns Social security coverage, How to become insured under social security. Military tax returns State unemployment tax, Tax rate and credit. Military tax returns Crew leaders, Crew Leaders Crop Destroyed, Standing crop destroyed by casualty. Military tax returns Insurance proceeds, Crop Insurance and Crop Disaster Payments Method of accounting, Crop method. Military tax returns Shares, Rents (Including Crop Shares) Unharvested, Cost of raising unharvested crops. Military tax returns , Section 1231 transactions. Military tax returns , Gain or loss. Military tax returns 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. Military tax returns Canceled, Cancellation of Debt, Canceled debt excluded from income. Military tax returns , Cancellation of debt. Military tax returns , Canceled debt. Military tax returns Nonrecourse, Amount realized on a nonrecourse debt. Military tax returns Qualified farm, Qualified Farm Debt Qualified principal residence, Qualified Principal Residence Debt Recourse, Amount realized on a recourse debt. Military tax returns Depletion, Depletion Depreciation, Claiming the Special Depreciation Allowance ADS election, ADS election. Military tax returns Conservation assets, Depreciable conservation assets. Military tax returns Deduction, Overview of Depreciation Incorrect amount deducted, How Do You Correct Depreciation Deductions? Limit for automobiles, Limits for passenger automobiles. Military tax returns Listed property, Additional Rules for Listed Property Raised livestock, Livestock. Military tax returns 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. Military tax returns Depreciation allowed, Basis adjustment for depreciation allowed or allowable. Military tax returns Direct payments, Direct payments and counter-cyclical payments. Military tax returns , 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. Military tax returns Disaster relief payments, Qualified disaster relief payments. Military tax returns Dispositions, Sale or other disposal of land during 9-year period. Military tax returns , Gain on sale of farmland. Military tax returns , 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. Military tax returns , Easements. Military tax returns Election ADS depreciation, Electing ADS. Military tax returns , ADS election. Military tax returns Amortization Business start-up costs, Business Start-Up Costs Reforestation costs, Reforestation Costs Crop method, Election to use crop method. Military tax returns Cutting of timber, Election to treat cutting as a sale or exchange. Military tax returns Deducting conservation expenses, When to Deduct or Capitalize Not excluding cost-sharing payments, Electing not to exclude payments. Military tax returns Out of installment method, Electing out of the installment method. Military tax returns Postponing casualty gain, Postponing Gain Postponing reporting crop insurance proceeds, Election to postpone reporting until the following year. Military tax returns Section 179 expense deduction, How Do You Elect the Deduction? Electronic filing, Reminders Embryo transplants, Transplanted embryo. Military tax returns Employer identification number, Reminders, Employer identification number (EIN). Military tax returns Endangered species recovery expenses, Endangered species recovery expenses. Military tax returns Environmental contamination, Soil or other environmental contamination. Military tax returns 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). Military tax returns , Fair market value (FMV). Military tax returns Family member Business expenses, Special rule for related persons. Military tax returns Installment sale, Sale to a related person. Military tax returns Like-kind exchange, Like-kind exchanges between related persons. Military tax returns Loss on sale or exchange of property, Losses from sales or exchanges between related persons. Military tax returns Personal-use property, Personal-use property. Military tax returns Social security coverage, Family Employees Farm Business expenses, Farm Business Expenses Business, defined, Business of Farming Defined, Farm defined. Military tax returns , Farm. Military tax returns Income averaging, Income Averaging for Farmers Rental, Farm rental. Military tax returns Sale of, Sale of a Farm Farmer, Farmer. Military tax returns 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. Military tax returns Form 1099-A, Form 1099-A. Military tax returns , Forms 1099-A and 1099-C. Military tax returns 1099-C, Cancellation of Debt, Form 1099-C. Military tax returns , Forms 1099-A and 1099-C. Military tax returns 1099-G, Market Gain, Payment to More Than One Person 1099-MISC, Reminders, Nonemployee compensation. Military tax returns 1099-PATR, Form 1099-PATR. Military tax returns 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. Military tax returns , Recapture. Military tax returns , Reporting the exchange. Military tax returns 4835, Rents (Including Crop Shares) 5213, Using the presumption later. Military tax returns 6252, Form 6252. Military tax returns 8822, Reminders 8824, Reporting the exchange. Military tax returns 8849, Claiming a Refund 8886, Reminders 940, Form 940. Military tax returns 943, Form 943. Military tax returns 982, Form 982 I-9, Form I-9. Military tax returns SS-4, Reminders, Employer identification number (EIN). Military tax returns SS-5, Obtaining a social security number. Military tax returns T (Timber), Form T (Timber). Military tax returns W-2, Form W-2. Military tax returns W-4, Reminders, New hire reporting. Military tax returns , Form W-4. Military tax returns W-4V, Commodity Credit Corporation (CCC) Loans, Crop Insurance and Crop Disaster Payments W-7, Obtaining an individual taxpayer identification number. Military tax returns Free tax services, How To Get Tax Help, Free help with your tax return. Military tax returns Fuel tax credit or refund, Fuel tax credit and refund. Military tax returns , 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). Military tax returns , Cost related to gifts. Military tax returns , Property Received as a Gift, Gift. Military tax returns Going into business, Business Start-Up Costs Grants, disaster relief, Federal disaster relief grants. Military tax returns Gross profit percentage, Gross profit percentage. Military tax returns Gross profit, defined, Gross profit. Military tax returns Guarantee, Debt not payable on demand. Military tax returns H Health insurance deduction, Self-employed health insurance deduction. Military tax returns Hedging, Hedging (Commodity Futures) Help (see Tax help) Highway use tax, Highway use tax. Military tax returns Holding period, Holding period. Military tax returns Horticultural structure, Horticultural structure. Military tax returns I Illegal irrigation subsidy, Illegal federal irrigation subsidy. Military tax returns 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. Military tax returns , Gross Income From Farming Gross, Gross Income Not-for-profit farming, Not-for-Profit Farming Pasture, Pasture income and rental. Military tax returns 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. Military tax returns Inherited property, Inherited Property Insolvency, Insolvency. Military tax returns Installment sales, Form 6252. Military tax returns Electing out, Electing out of the installment method. Military tax returns Farm, sale of, Installment Sale of a Farm Figuring income, Figuring Installment Sale Income Reporting income, Form 6252. Military tax returns Unstated interest, Unstated interest. Military tax returns Insurance, Insurance, Self-employed health insurance deduction. Military tax returns Intangible property, Section 197 Intangibles Interest Expense, Interest Income, Interest income. Military tax returns Unstated, Unstated interest. Military tax returns Inventory Items included, Farm Inventory Methods of valuation, Inventory valuation methods. Military tax returns Involuntary conversions, Involuntary Conversions, Property acquired in a like-kind exchange or involuntary conversion. Military tax returns , Introduction Irrigation Illegal subsidy, Illegal federal irrigation subsidy. Military tax returns 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. Military tax returns 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. Military tax returns 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. Military tax returns Prepaid farm supplies, Deduction limit. Military tax returns Reforestation costs, Reforestation Costs Section 179 expense deduction Automobile, Limits for passenger automobiles. Military tax returns 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. Military tax returns Rules, Additional Rules for Listed Property Livestock, Section 1231 transactions. Military tax returns Casualty and theft losses, Livestock or produce bought for resale. Military tax returns Crop shares, Crop shares you use to feed livestock. Military tax returns Depreciation, Livestock. Military tax returns Diseased, Diseased livestock. Military tax returns Feed assistance, Feed Assistance and Payments Immature, Immature livestock. Military tax returns Losses, Loss of livestock. Military tax returns , Livestock Purchased, Purchased livestock. Military tax returns Raised, Raised livestock. Military tax returns Sale of, Sales of Farm Products, Livestock Unit-livestock-price, inventory valuation, Unit-livestock-price method. Military tax returns Used in a farm business, Livestock used in farm business. Military tax returns Weather-related sales, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. Military tax returns Loans, Commodity Credit Corporation (CCC) Loans, Loan expenses. Military tax returns 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. Military tax returns Hobby farming, Not-for-Profit Farming Livestock, Livestock, Diseased livestock. Military tax returns Nondeductible, Other Nondeductible Items Theft, Casualties, Thefts, and Condemnations Lost income payments, Lost income payments. Military tax returns Lost property, Mislaid or lost property. Military tax returns M MACRS property Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. Military tax returns Like-kind exchange, Property acquired in a like-kind exchange or involuntary conversion. Military tax returns Nontaxable transfer, Property acquired in a nontaxable transfer. Military tax returns Market gain, reporting, Market Gain Marketing quota penalties, Marketing Quota Penalties Material participation, Landlord Participation in Farming Meals, Meals. Military tax returns Membership fees, Club dues and membership fees. Military tax returns Methods of accounting, Accounting Methods Modified ACRS (MACRS) ADS election, ADS election. Military tax returns Conventions, Which Convention Applies? Depreciation methods, Which Depreciation Method Applies? Exchange, Property acquired in a like-kind exchange or involuntary conversion. Military tax returns Figuring the deduction, How Is the Depreciation Deduction Figured? Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. Military tax returns Nontaxable transfer, Property acquired in a nontaxable transfer. Military tax returns Percentage tables, Rules for using the tables. Military tax returns Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? N New hire reporting, New hire reporting. Military tax returns Noncapital asset, Noncapital Assets Nontaxable exchanges, Like-Kind Exchanges Nontaxable transfer of MACRS property, Property acquired in a nontaxable transfer. Military tax returns Not-for-profit farming, Not-for-Profit Farming O Organizational costs, Business start-up and organizational costs. Military tax returns P Partners, limited, Limited partner. Military tax returns Partners, retired, Retired partner. Military tax returns Partners, Spouse, Business Owned and Operated by Spouses. Military tax returns Partnership, Partnership income or loss. Military tax returns Passenger automobile, Passenger automobiles. Military tax returns Pasture income, Pasture income and rental. Military tax returns 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. Military tax returns 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. Military tax returns Extends useful life, Prepayment. Military tax returns Farm supplies, Prepaid Farm Supplies Livestock feed, Prepaid Livestock Feed Prizes, Prizes. Military tax returns Produce, Sales of Farm Products Property Changed to business use, Property changed from personal to business or rental use. Military tax returns Received for services, Property received for services. Military tax returns Repairs and improvements, How Do You Treat Repairs and Improvements? Section 1231, Section 1231 transactions. Military tax returns Section 1245, Section 1245 Property Section 1250, Section 1250 Property Section 1252, Section 1252 property. Military tax returns Section 1255, Section 1255 property. Military tax returns Tangible personal, Tangible personal property. Military tax returns Publications (see Tax help) Q Qualified disaster relief payments, Qualified disaster relief payments. Military tax returns Qualified farm debt, Qualified Farm Debt Qualified joint venture, Qualified joint venture. Military tax returns Qualified principal residence debt, Qualified Principal Residence Debt R Recapture Amortization, Depreciation and amortization. Military tax returns Basis reductions, Recapture of basis reductions. Military tax returns Certain depreciation, Recapture of certain depreciation. Military tax returns Cost-sharing payments, Recapture. Military tax returns Depreciation, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Depreciation recapture. Military tax returns 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. Military tax returns Special depreciation allowance, When Must You Recapture an Allowance Recordkeeping, Importance of Records, Meals. Military tax returns Records on depreciable property, Depreciation Recapture Reforestation costs, Forestation and reforestation costs. Military tax returns , Reforestation Costs Refund Deduction taken, Refund or reimbursement. Military tax returns Fuel tax, Fuel tax credit and refund. Military tax returns , Including the Credit or Refund in Income Reimbursements Casualties and thefts, Casualty and theft losses. Military tax returns , Casualties and Thefts, Insurance and other reimbursements. Military tax returns Deduction taken, Refund or reimbursement. Military tax returns Expenses, Reimbursed expenses. Military tax returns Feed assistance, Feed Assistance and Payments Real estate taxes, Real estate taxes. Military tax returns Reforestation expenses, Qualifying costs. Military tax returns To employees, Reimbursements to employees. Military tax returns Related persons, Special rule for related persons. Military tax returns , Losses from sales or exchanges between related persons. Military tax returns , Special rules for related persons. Military tax returns , Like-kind exchanges between related persons. Military tax returns , Sale to a related person. Military tax returns , Buying replacement property from a related person. Military tax returns , Related persons. Military tax returns Rental income, Rents (Including Crop Shares) Rented property, improvements, Improvements to rented property. Military tax returns Repairs, Repairs and Maintenance Repairs and improvements, How Do You Treat Repairs and Improvements? Repayment of income, Repayment of income. Military tax returns Replacement Period, Replacement Period Property, Replacement Property Reportable transactions. Military tax returns , Reminders Repossessions, Foreclosure or Repossession Right-of-way income, Easements and rights-of-way. Military tax returns S Sale of home, Sale of your home. Military tax returns 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. Military tax returns Self-employed health insurance deduction, Self-employed health insurance deduction. Military tax returns Self-employment tax Community property, Community property. Military tax returns Deduction, Deduction for employer-equivalent portion of self-employment tax. Military tax returns How to pay, How To Pay Self-Employment Tax Landlord participation, Landlord Participation in Farming Material participation, Material participation for landlords. Military tax returns 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. Military tax returns Share farming, Share farmer. Military tax returns Tax rates, What's New for 2013 Who must pay, Who Must Pay Self-Employment Tax? Selling expenses, Selling expenses. Military tax returns Selling price Defined, Selling price. Military tax returns Reduced, Selling price reduced. Military tax returns Settlement costs (fees), Settlement costs. Military tax returns Social security and Medicare Credits of coverage, Earning credits in 2013. Military tax returns Withholding of tax, Social Security and Medicare Taxes Social security number, Obtaining a social security number. Military tax returns Software, computer, Computer software. Military tax returns Soil Conservation, Conservation Expenses Contamination, Soil or other environmental contamination. Military tax returns 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. Military tax returns Start-up costs for businesses, Business start-up and organizational costs. Military tax returns Suggestions for publication, Comments and suggestions. Military tax returns T Tangible personal property, Tangible personal property. Military tax returns Tax help, How To Get Tax Help Tax preparation fees, Tax preparation fees. Military tax returns Tax shelter At-risk limits, At-Risk Limits Defined, Tax shelter. Military tax returns Tax-free exchanges, Like-Kind Exchanges Taxes Excise, Excise Taxes Federal use, Highway use tax. Military tax returns General, Taxes Self-employment, Self-Employment Tax State and federal, State and federal income taxes. Military tax returns State and local general sales, State and local general sales taxes. Military tax returns Withholding, Federal income tax withholding. Military tax returns , Social Security and Medicare Taxes, Federal Income Tax Withholding Telephone expense, Telephone expense. Military tax returns Tenant house expenses, Tenant House Expenses Term interests, Certain term interests in property. Military tax returns Theft losses, Casualties, Thefts, and Condemnations Timber, Timber. Military tax returns , 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. Military tax returns TTY/TDD information, How To Get Tax Help U Uniform capitalization rules Basis of assets, Uniform Capitalization Rules Inventory, Uniform capitalization rules. Military tax returns Unstated interest, Unstated interest. Military tax returns W Wages and salaries, Wages and salaries. Military tax returns Water conservation, Conservation Expenses Water well, Water well. Military tax returns , Water wells. Military tax returns Weather-related sales, livestock, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. Military tax returns 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 Military Tax Returns

Military tax returns Publication 4492 - Main Contents Table of Contents DefinitionsHurricane Katrina Disaster Area Katrina Covered Disaster Area Gulf Opportunity (GO) Zone (Core Disaster Area) Hurricane Rita Disaster Area (Rita Covered Disaster Area) Rita GO Zone Hurricane Wilma Disaster Area Wilma Covered Disaster Area Wilma GO Zone Extended Tax Deadlines Charitable Giving IncentivesTemporary Suspension of Limits on Charitable Contributions Standard Mileage Rate for Charitable Use of Vehicles Mileage Reimbursements to Charitable Volunteers Charitable Deduction for Contributions of Food Inventory Charitable Deduction for Contributions of Book Inventories to Public Schools Casualty and Theft LossesTime limit for making election. Military tax returns Replacement Period for Nonrecognition of Gain Net Operating Losses IRAs and Other Retirement PlansDefinitions Taxation of Qualified Hurricane Distributions Repayment of Qualified Hurricane Distributions Repayment of Qualified Distributions for the Purchase or Construction of a Main Home Loans From Qualified Plans Additional Tax Relief for IndividualsEarned Income Credit and Child Tax Credit Additional Exemption for Housing Individuals Displaced by Hurricane Katrina Education Credits Recapture of Federal Mortgage Subsidy Exclusion of Certain Cancellations of Indebtedness by Reason of Hurricane Katrina Tax Relief for Temporary Relocation Additional Tax Relief for BusinessesSpecial Depreciation Allowance Increased Section 179 Deduction Work Opportunity Credit Employee Retention Credit Hurricane Katrina Housing Credit Reforestation Costs Demolition and Clean-up Costs Increase in Rehabilitation Tax Credit Request for Copy or Transcript of Tax Return How To Get Tax Help Definitions The following definitions are used throughout this publication. Military tax returns Hurricane Katrina Disaster Area The Hurricane Katrina disaster area covers the area for which the President declared a major disaster before September 14, 2005, because of Hurricane Katrina. Military tax returns The Hurricane Katrina disaster area covers the entire states of Alabama, Florida, Louisiana, and Mississippi. Military tax returns Katrina Covered Disaster Area A portion of the Hurricane Katrina disaster area has been designated by the IRS as a covered disaster area. Military tax returns The Katrina covered disaster area covers the following areas in four states. Military tax returns Alabama. Military tax returns   The counties of Baldwin, Bibb, Choctaw, Clarke, Colbert, Cullman, Greene, Hale, Jefferson, Lamar, Lauderdale, Marengo, Marion, Mobile, Monroe, Perry, Pickens, Sumter, Tuscaloosa, Washington, Wilcox, and Winston. Military tax returns Florida. Military tax returns   The counties of Bay, Broward, Collier, Escambia, Franklin, Gulf, Miami-Dade, Monroe, Okaloosa, Santa Rosa, and Walton. Military tax returns Louisiana. Military tax returns   All parishes. Military tax returns Mississippi. Military tax returns   All counties. Military tax returns Gulf Opportunity (GO) Zone (Core Disaster Area) The GO Zone (also called the core disaster area) covers the portion of the Hurricane Katrina disaster area determined by the Federal Emergency Management Agency (FEMA) to be eligible for either individual only or both individual and public assistance from the Federal Government. Military tax returns The GO Zone covers the following areas in three states. Military tax returns Alabama. Military tax returns   The counties of Baldwin, Choctaw, Clarke, Greene, Hale, Marengo, Mobile, Pickens, Sumter, Tuscaloosa, and Washington. Military tax returns Louisiana. Military tax returns   The parishes of Acadia, Ascension, Assumption, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Military tax returns Bernard, St. Military tax returns Charles, St. Military tax returns Helena, St. Military tax returns James, St. Military tax returns John the Baptist, St. Military tax returns Martin, St. Military tax returns Mary, St. Military tax returns Tammany, Tangipahoa, Terrebonne, Vermilion, Washington, West Baton Rouge, and West Feliciana. Military tax returns Mississippi. Military tax returns   The counties of Adams, Amite, Attala, Choctaw, Claiborne, Clarke, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Holmes, Humphreys, Jackson, Jasper, Jefferson, Jefferson Davis, Jones, Kemper, Lamar, Lauderdale, Lawrence, Leake, Lincoln, Lowndes, Madison, Marion, Neshoba, Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Wilkinson, Winston, and Yazoo. Military tax returns Hurricane Rita Disaster Area (Rita Covered Disaster Area) The Hurricane Rita disaster area (also designated by the IRS as the Rita covered disaster area) covers the area for which the President declared a major disaster before October 6, 2005, because of Hurricane Rita. Military tax returns This area covers the entire states of Louisiana and Texas. Military tax returns Rita GO Zone The Rita GO Zone covers the portion of the Hurricane Rita disaster area determined by FEMA to be eligible for either individual only or both individual and public assistance from the Federal Government. Military tax returns The Rita GO Zone covers the following areas in two states. Military tax returns Louisiana. Military tax returns   The parishes of Acadia, Allen, Ascension, Beauregard, Calcasieu, Cameron, Evangeline, Iberia, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Plaquemines, Sabine, St. Military tax returns Landry, St. Military tax returns Martin, St. Military tax returns Mary, St. Military tax returns Tammany, Terrebonne, Vermilion, Vernon, and West Baton Rouge. Military tax returns Texas. Military tax returns   The counties of Angelina, Brazoria, Chambers, Fort Bend, Galveston, Hardin, Harris, Jasper, Jefferson, Liberty, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler, and Walker. Military tax returns Hurricane Wilma Disaster Area The Hurricane Wilma disaster area covers the area for which the President declared a major disaster before November 14, 2005, because of Hurricane Wilma. Military tax returns The Hurricane Wilma disaster area covers the entire state of Florida. Military tax returns Wilma Covered Disaster Area A portion of the Hurricane Wilma disaster area has been designated by the IRS as a covered disaster area. Military tax returns The Wilma covered disaster area covers the following counties. Military tax returns Florida. Military tax returns   Brevard, Broward, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Osceola, Palm Beach, Polk, St. Military tax returns Lucie, and Sarasota. Military tax returns Wilma GO Zone The Wilma GO Zone covers the portion of the Hurricane Wilma disaster area determined by FEMA to be eligible for either individual only or both individual and public assistance from the Federal Government. Military tax returns The Wilma GO Zone covers the following counties. Military tax returns Florida. Military tax returns   Brevard, Broward, Collier, Glades, Hendry, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Palm Beach, and St. Military tax returns Lucie. Military tax returns Extended Tax Deadlines The IRS has extended deadlines that apply to filing returns, paying taxes, and performing certain other time-sensitive acts for certain taxpayers affected by Hurricane Katrina, Rita, or Wilma, until February 28, 2006. Military tax returns The extension applies to deadlines (either an original or extended due date) that occur during the following periods. Military tax returns After August 28, 2005 (August 23, 2005, for Florida affected taxpayers), and before February 28, 2006, for taxpayers affected by Hurricane Katrina. Military tax returns After September 22, 2005, and before February 28, 2006, for taxpayers affected by Hurricane Rita. Military tax returns After October 22, 2005, and before February 28, 2006, for taxpayers affected by Hurricane Wilma. Military tax returns Affected taxpayer. Military tax returns   The following taxpayers are eligible for the extension. Military tax returns Any individual whose main home is located in a covered disaster area. Military tax returns Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. Military tax returns Any individual, business entity, or sole proprietor whose records needed to meet a postponed deadline are maintained or whose tax professional's office is in a covered disaster area. Military tax returns The main home or principal place of business does not have to be located in the covered area. Military tax returns Any individual visiting a county or parish in the Hurricane Katrina or Hurricane Rita covered disaster area that was injured or killed (and the estate of an individual killed) as a result of the hurricane or its aftermath. Military tax returns Any estate or trust whose tax records needed to meet a filing or payment deadline are maintained in a covered disaster area. Military tax returns Generally, any individual who is a worker assisting in the relief activities in a covered disaster area. Military tax returns However, a relief worker assisting in the Wilma covered disaster area is not an affected taxpayer unless the worker is affiliated with a recognized government or philanthropic organization assisting in the relief activities. Military tax returns The spouse of an affected taxpayer, solely with regard to a joint income tax return with that taxpayer. Military tax returns   To ensure correct processing, affected taxpayers should write the assigned disaster designation (for example, “Hurricane Katrina”) in red ink at the top of any forms or documents filed with the IRS. Military tax returns Affected taxpayers can also identify themselves to the IRS or ask hurricane-related questions by calling the special IRS disaster hotline at 1-866-562-5227. Military tax returns Acts extended. Military tax returns   Deadlines for performing the following acts are extended. Military tax returns Filing any return of income, estate, gift, generation-skipping transfer, excise, or employment tax. Military tax returns Paying any income, estate, gift, generation-skipping transfer, excise, or employment tax. Military tax returns This includes making estimated tax payments. Military tax returns Making certain contributions, distributions, recharacterizing contributions, or making a rollover to or from a qualified retirement plan. Military tax returns Filing certain petitions with the Tax Court. Military tax returns Filing a claim for credit or refund of any tax. Military tax returns Bringing suit upon a claim for credit or refund. Military tax returns Certain other acts described in Revenue Procedure 2005-27. Military tax returns You can find Revenue Procedure 2005-27 on page 1050 of Internal Revenue Bulletin 2005-20 at www. Military tax returns irs. Military tax returns gov/pub/irs-irbs/irb05-20. Military tax returns pdf. Military tax returns Forgiveness of interest and penalties. Military tax returns   The IRS may forgive the interest and penalties on any underpaid income, estate, gift, employment, or excise tax for the length of any extension. Military tax returns Charitable Giving Incentives Temporary Suspension of Limits on Charitable Contributions Individuals. Military tax returns   Qualified contributions are not subject to the overall limit on itemized deductions or the 50% adjusted gross income (AGI) limit. Military tax returns A qualified contribution is a charitable contribution paid in cash or by check after August 27, 2005, and before January 1, 2006, to a 50% limit organization (other than certain private foundations described in section 509(a)(3)) if you make an election to have the 50% limit not apply to these contributions. Military tax returns   Your deduction for qualified contributions is limited to your AGI minus your deduction for all other charitable contributions. Military tax returns You can carry over any contributions you are not able to deduct for 2005 because of this limit. Military tax returns In 2006, treat the carryover of your unused qualified contributions as a carryover of contributions subject to the 50% limit. Military tax returns Exception. Military tax returns   Qualified contributions do not include a contribution to a segregated fund or account for which you (or any person you appoint or designate) have or expect to have advisory privileges with respect to distributions or investments based on your contribution. Military tax returns Corporations. Military tax returns   A corporation may elect to deduct qualified cash contributions without regard to the 10% taxable income limit if the contributions were made after August 27, 2005, and before January 1, 2006, to a qualified charitable organization (other than certain private foundations described in section 509(a)(3)), for Hurricane Katrina, Rita, or Wilma relief efforts. Military tax returns The corporation's deduction for these qualified contributions is limited to 100% of taxable income (as modified for the 10% limit) minus the corporation's deduction for all other charitable contributions. Military tax returns Any qualified contributions over this limit can be carried over to the next 5 years, subject to the 10% limit. Military tax returns Partners and shareholders. Military tax returns   Each partner in a partnership and each shareholder in an S corporation makes a separate election to have the appropriate limit not apply. Military tax returns More information. Military tax returns   For more information, see Publication 526 or Publication 542, Corporations. Military tax returns Publication 526 includes a worksheet you can use to figure your deduction if any limits apply to your charitable contributions. Military tax returns Standard Mileage Rate for Charitable Use of Vehicles The following are special standard mileage rates in effect in 2005 and 2006 for the cost of operating your automobile for providing charitable services solely related to Hurricane Katrina. Military tax returns 29 cents per mile for the period August 25 through August 31, 2005. Military tax returns 34 cents per mile for the period September 1 through December 31, 2005. Military tax returns 32 cents per mile for the period January 1 through December 31, 2006. Military tax returns Mileage Reimbursements to Charitable Volunteers You can exclude from income amounts you receive as mileage reimbursements for the use of a private passenger automobile for the benefit of a qualified charitable organization in providing relief related to Hurricane Katrina during the period beginning on August 25, 2005, and ending on December 31, 2006. Military tax returns You cannot claim a deduction or credit for amounts you receive as a mileage reimbursement. Military tax returns You must keep records of miles driven, time, place (or use), and purpose of the mileage. Military tax returns The amount you can exclude from income cannot exceed the standard business mileage rate (shown below) for expenses incurred during the following periods. Military tax returns 40. Military tax returns 5 cents per mile for the period August 25 through August 31, 2005. Military tax returns 48. Military tax returns 5 cents per mile for the period September 1 through December 31, 2005. Military tax returns 44. Military tax returns 5 cents per mile for the period January 1 through December 31, 2006. Military tax returns Charitable Deduction for Contributions of Food Inventory Any taxpayer engaged in a trade or business is eligible to claim a deduction for a contribution of “apparently wholesome food” inventory to a qualified charitable organization described in section 501(c)(3) (except for private nonoperating foundations) after August 27, 2005, and before January 1, 2006. Military tax returns “Apparently wholesome food” is food that meets all quality and labeling standards imposed by federal, state, and local laws and regulations even though the food may not be readily marketable due to appearance, age, freshness, grade, size, surplus, or other conditions. Military tax returns The deduction is equal to the lesser of: The basis of the donated food plus one-half of the gain that would have been realized if the donated food had been sold at fair market value on the date of the donation, or Two times the basis of the donated food. Military tax returns The taxpayer must receive written certification from the donee stating: The donated food is related to the purpose or function of the donee's basis for exemption under section 501(c)(3) and is to be used solely for the care of the ill, the needy, or infants; and The food was not given in exchange for money, other property, or services. Military tax returns For a taxpayer other than a C corporation, the deduction is limited to 10% of the taxpayer's total net income from all trades or businesses from which the food contributions were made (figured without regard to the deduction for charitable contributions). Military tax returns For example, if a taxpayer is a sole proprietor, a shareholder in an S corporation, and a partner in a partnership, and each made a contribution of apparently wholesome food inventory, the taxpayer's deduction is limited to 10% of the taxpayer's total net income from the sole proprietorship, S corporation, and partnership (figured without regard to the deduction for charitable contributions). Military tax returns Charitable Deduction for Contributions of Book Inventories to Public Schools A corporation (other than an S corporation) may be allowed a charitable deduction for a qualified book contribution made after August 27, 2005, and before January 1, 2006, to a public school that: Provides elementary or secondary education (kindergarten through grade 12), and Normally maintains a regular faculty and curriculum and has a regular enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on. Military tax returns . Military tax returns The deduction is equal to the lesser of: The basis of the donated books plus one-half of the gain that would have been realized if the donated books had been sold at fair market value on the date of the donation, or Two times the basis of the donated books. Military tax returns The corporation must receive written certification from the school stating that the donated books are suitable for the organization's educational programs and will be used for such programs. Military tax returns Casualty and Theft Losses The following paragraphs explain changes to casualty and theft losses that were caused by Hurricane Katrina, Rita, or Wilma. Military tax returns For more information, see Publication 547. Military tax returns Limits on personal casualty or theft losses caused by Hurricane Katrina, Rita, or Wilma. Military tax returns   The following losses to personal use property are not subject to the $100 or 10% of adjusted gross income limits. Military tax returns Losses that arose in the Hurricane Katrina disaster area after August 24, 2005, and that were caused by Hurricane Katrina. Military tax returns Losses that arose in the Hurricane Rita disaster area after September 22, 2005, and that were caused by Hurricane Rita. Military tax returns Losses that arose in the Hurricane Wilma disaster area after October 22, 2005, and that were caused by Hurricane Wilma. Military tax returns Qualifying losses include losses from flooding or other casualty, and from theft, that arose in the hurricane disaster area and that were caused by the hurricane. Military tax returns Special instructions for individuals who elect to claim a Hurricane Katrina, Rita, or Wilma casualty or theft loss for 2004. Military tax returns   Casualty and theft losses are generally deductible only in the year the casualty occurred or theft was discovered. Military tax returns However, Hurricane Katrina, Rita, and Wilma are Presidentially declared disasters. Military tax returns Therefore, you can elect to deduct losses from these hurricanes on your tax return for the previous year. Military tax returns If you make this election, use the following additional instructions to complete your forms. Military tax returns   Individuals filing or amending their 2004 tax return whose only casualty or theft losses to personal use property claimed on that return were caused by Hurricane Katrina, Rita, or Wilma should write “Hurricane Katrina,” “Hurricane Rita,” or “Hurricane Wilma” at the top of Form 1040 or 1040X. Military tax returns They must also complete and attach the 2004 Form 4684 and write “Hurricane Katrina,”“Hurricane Rita,” or “Hurricane Wilma” on the dotted line next to line 11 and enter -0- on lines 11 and 17. Military tax returns   Individuals filing or amending their 2004 tax return who also have casualty or theft losses to personal use property not related to Hurricane Katrina, Rita, or Wilma should disregard the caution directing taxpayers to use only one Form 4684, located above line 13, and complete lines 13 through 18 on two Forms 4684. Military tax returns The Form 1040 or 1040X and the first Form 4684 should be prepared as explained above for Hurricane Katrina, Rita, or Wilma losses only. Military tax returns The second Form 4684 should be prepared in the normal manner for all gains and non-Hurricane Katrina, Rita or Wilma losses. Military tax returns If both Forms 4684 have a loss on line 18, they should carry the combined losses from that line to Schedule A (Form 1040), line 19. Military tax returns If there is a gain on line 15 of the second Form 4684, disregard the instruction to enter it on Schedule D (Form 1040), and instead enter on Schedule A (Form 1040), line 19, the excess of the loss from the first Form 4684 over the gain on line 15 of the second Form 4684. Military tax returns , Time limit for making election. Military tax returns   You must make this election to claim your casualty or theft loss in 2004 by the later of the following dates. Military tax returns The due date (without extensions) for filing your 2005 income tax return. Military tax returns The due date (with extensions) for filing your 2004 income tax return. Military tax returns Example. Military tax returns If you are a calendar year individual taxpayer, you have until April 17, 2006, to amend your 2004 tax return to claim a casualty or theft loss that occurred during 2005. Military tax returns Replacement Period for Nonrecognition of Gain Generally, an involuntary conversion occurs when property is damaged, destroyed, stolen, seized, requisitioned, or condemned, and you receive other property or money in payment, such as insurance or a condemnation award. Military tax returns Generally, you do not have to report a gain (if any) if you replace the property within 2 years (4 years for a main home in a Presidentially declared disaster area). Military tax returns However, for property that was involuntarily converted after August 24, 2005, as a result of Hurricane Katrina, a 5-year replacement period applies if substantially all of the use of the replacement property is in the Hurricane Katrina disaster area. Military tax returns For more information, see the Instructions for Form 4684. Military tax returns Net Operating Losses Qualified GO Zone loss. Military tax returns   Generally, you can carry a net operating loss (NOL) back to the 2 tax years before the NOL year. Military tax returns However, the portion of an NOL that is a qualified GO Zone loss can be carried back to the 5 tax years before the NOL year. Military tax returns In addition, the 90% limit on the alternative tax NOL deduction (ATNOLD) does not apply to such portion of the ATNOLD. Military tax returns   A qualified GO Zone loss is the smaller of: The excess of the NOL for the year over the specified liability loss for the year to which a 10-year carryback applies, or The total of the following deductions (to the extent they are taken into account in computing the NOL for the tax year): Qualified GO Zone casualty loss (as defined below), Moving expenses paid or incurred after August 27, 2005, and before January 1, 2008, for the employment of an individual whose main home was in the GO Zone before August 28, 2005, who was unable to remain in that home because of Hurricane Katrina, and whose main job location (after the move) is in the GO Zone, Temporary housing expenses paid or incurred after August 27, 2005, and before January 1, 2008, to house employees of the taxpayer whose main job location is in the GO Zone, Depreciation or amortization allowable for any qualified GO Zone property (even if you elected not to claim the special GO Zone depreciation allowance for such property) for the year placed in service, and Repair expenses (including expenses for the removal of debris) paid or incurred after August 27, 2005, and before January 1, 2008, for any damage from Hurricane Katrina to property located in the GO Zone. Military tax returns Qualified GO Zone casualty loss. Military tax returns   A qualified GO Zone casualty loss is any deductible section 1231 loss of property located in the GO Zone if the loss was caused by Hurricane Katrina. Military tax returns For this purpose, the amount of the loss is reduced by any recognized gain from an involuntary conversion caused by Hurricane Katrina of property located in the GO Zone. Military tax returns Any such loss taken into account in figuring your qualified GO Zone loss is not eligible for the election to be treated as having occurred in the previous tax year. Military tax returns 5-year NOL carryback of certain timber losses. Military tax returns   Generally, you can carry the portion of an NOL due to income and deductions attributable to a farming business back to the 5 tax years before the NOL year. Military tax returns You can treat income and deductions attributable to qualified timber property as attributable to a farming business if any portion of the property is located in the GO Zone, Rita GO Zone, or Wilma GO Zone, and the income and deductions are allocable to the part of your tax year which is after the applicable date below. Military tax returns August 27, 2005, if any portion of the property is located in the GO Zone. Military tax returns September 22, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone). Military tax returns October 22, 2005, if any portion of the property is located in the Wilma GO Zone (but not in the GO Zone or the RITA GO Zone). Military tax returns   These rules will not apply after 2006. Military tax returns   However, these rules apply only to a timber producer who: Held qualified timber property (defined in Publication 535, Business Expenses) on the applicable date below: August 28, 2005, if any portion of the property is located in the GO Zone, September 23, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone), or October 23, 2005, if any portion of the property is located in the Wilma GO Zone (but not in the GO Zone or the Rita GO Zone); Is not a corporation with stock publicly traded on an established securities market; Is not a real estate investment trust; and Did not hold more than 500 acres of qualified timber property on the applicable date above. Military tax returns More information. Military tax returns   For more information on NOLs, see Publication 536 or Publication 542, Corporations. Military tax returns IRAs and Other Retirement Plans New rules provide for tax-favored withdrawals, repayments, and loans from certain retirement plans for taxpayers who suffered economic losses as a result of Hurricane Katrina, Rita, or Wilma. Military tax returns Definitions Qualified hurricane distribution. Military tax returns   A qualified hurricane distribution is any distribution you received from an eligible retirement plan if all of the following apply. Military tax returns The distribution was made: After August 24, 2005, and before January 1, 2007, for Hurricane Katrina; After September 22, 2005, and before January 1, 2007, for Hurricane Rita; or After October 22, 2005, and before January 1, 2007, for Hurricane Wilma. Military tax returns Your main home was located in a hurricane disaster area listed below on the date shown for that area. Military tax returns August 28, 2005, for the Hurricane Katrina disaster area. Military tax returns September 23, 2005, for the Hurricane Rita disaster area. Military tax returns October 23, 2005, for the Hurricane Wilma disaster area. Military tax returns You sustained an economic loss because of Hurricane Katrina, Rita, or Wilma and your main home was in that hurricane disaster area on the date shown in (2) above for that hurricane. Military tax returns Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Military tax returns   If (1) through (3) above apply, you can generally designate any distribution (including periodic payments and required minimum distributions) from an eligible retirement plan as a qualified hurricane distribution, regardless of whether the distribution was made on account of Hurricane Katrina, Rita, or Wilma. Military tax returns Qualified hurricane distributions are permitted without regard to your need or the actual amount of your economic loss. Military tax returns   The total of your qualified hurricane distributions from all plans is limited to $100,000. Military tax returns If you have distributions in excess of $100,000 from more than one type of plan, such as a 401(k) plan and an IRA, you may allocate the $100,000 limit among the plans any way you choose. Military tax returns   A reduction or offset (after August 24, 2005, for Katrina; after September 22, 2005, for Rita; or after October 22, 2005, for Wilma) of your account balance in an eligible retirement plan in order to repay a loan can also be designated as a qualified hurricane distribution. Military tax returns Eligible retirement plan. Military tax returns   An eligible retirement plan can be any of the following. Military tax returns A qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan). Military tax returns A qualified annuity plan. Military tax returns A tax-sheltered annuity contract. Military tax returns A governmental section 457 deferred compensation plan. Military tax returns A traditional, SEP, SIMPLE, or Roth IRA. Military tax returns Main home. Military tax returns   Generally, your main home is the home where you live most of the time. Military tax returns A temporary absence due to special circumstances, such as illness, education, business, military service, evacuation, or vacation, will not change your main home. Military tax returns Taxation of Qualified Hurricane Distributions Qualified hurricane distributions are included in income in equal amounts over three years. Military tax returns However, if you elect, you can include the entire distribution in your income in the year it was received. Military tax returns Qualified hurricane distributions are not subject to the additional 10% tax (or the additional 25% tax for certain distributions from SIMPLE IRAs) on early distributions from qualified retirement plans (including IRAs). Military tax returns However, any distributions you receive in excess of the $100,000 qualified hurricane distribution limit may be subject to the additional tax on early distributions. Military tax returns For more information, see Form 8915. Military tax returns Repayment of Qualified Hurricane Distributions If you choose, you generally can repay any portion of a qualified hurricane distribution that is eligible for tax-free rollover treatment to an eligible retirement plan. Military tax returns Also, you can repay a qualified hurricane distribution made on account of a hardship from a retirement plan. Military tax returns However, see Exceptions below for qualified hurricane distributions you cannot repay. Military tax returns You have three years from the day after the date you received the distribution to make a repayment. Military tax returns Amounts that are repaid are treated as a qualified rollover and are not included in income. Military tax returns Also, for purposes of the one-rollover-per-year limitation for IRAs, a repayment to an IRA is not considered a qualified rollover. Military tax returns See Form 8915 for more information on how to report repayments. Military tax returns Exceptions. Military tax returns   You cannot repay the following types of distributions. Military tax returns Qualified hurricane distributions received as a beneficiary (other than a surviving spouse). Military tax returns Required minimum distributions. Military tax returns Periodic payments (other than from an IRA) that are for: A period of 10 years or more, Your life or life expectancy, or The joint lives or joint life expectancies of you and your beneficiary. Military tax returns Repayment of Qualified Distributions for the Purchase or Construction of a Main Home If you received a qualified distribution to purchase or construct a main home in the Hurricane Katrina, Rita, or Wilma disaster area, you can repay that distribution before March 1, 2006, to an eligible retirement plan after August 24, 2005 (Katrina); after September 22, 2005 (Rita); or after October 22, 2005 (Wilma). Military tax returns For this purpose, an eligible retirement plan is any plan, annuity, or IRA to which a qualified rollover can be made. Military tax returns To be a qualified distribution, the distribution must meet all of the following requirements. Military tax returns The distribution is a hardship distribution from a 401(k) plan, a hardship distribution from a tax-sheltered annuity contract, or a qualified first-time homebuyer distribution from an IRA. Military tax returns The distribution was received in 2005 after February 28 and before: August 29 for Hurricane Katrina; September 24 for Hurricane Rita; or October 24 for Hurricane Wilma. Military tax returns The distribution was to be used to purchase or construct a main home in the Hurricane Katrina, Rita, or Wilma disaster area that was not purchased or constructed because of Hurricane Katrina, Rita, or Wilma. Military tax returns Amounts that are repaid before March 1, 2006, are treated as a qualified rollover and are not included in income. Military tax returns Also, for purposes of the one-rollover-per-year limitation for IRAs, a repayment to an IRA is not considered a qualified rollover. Military tax returns A qualified distribution not repaid before March 1, 2006, may be taxable for 2005 and subject to the additional 10% tax (or the additional 25% tax for certain SIMPLE IRAs) on early distributions. Military tax returns You must file Form 8915 if you received a qualified distribution that you repaid, in whole or in part, before March 1, 2006. Military tax returns Loans From Qualified Plans The following benefits are available to qualified individuals. Military tax returns Increases to the limits for distributions treated as loans from employer plans. Military tax returns A 1-year suspension for payments due on plan loans. Military tax returns Qualified individual. Military tax returns   You are a qualified individual if any of the following apply. Military tax returns Your main home on August 28, 2005, was located in the Hurricane Katrina disaster area and you had an economic loss because of Hurricane Katrina. Military tax returns Your main home on September 23, 2005, was located in the Hurricane Rita disaster area and you had an economic loss because of Hurricane Rita. Military tax returns Your main home on October 23, 2005, was located in the Hurricane Wilma disaster area and you had an economic loss because of Hurricane Wilma. Military tax returns Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Military tax returns Limits on plan loans. Military tax returns   The $50,000 limit for distributions treated as plan loans is increased to $100,000. Military tax returns In addition, the limit based on 50% of your vested accrued benefit is increased to 100% of that benefit. Military tax returns The higher limits apply only to loans received during the following period. Military tax returns If your main home was located in the Hurricane Katrina disaster area, the period began on September 24, 2005, and ends on December 31, 2006. Military tax returns If your main home was located in the Hurricane Rita or Wilma disaster area, the period began on December 21, 2005, and ends on December 31, 2006. Military tax returns If you are a qualified individual based on Hurricane Katrina and another hurricane, use the period based on Hurricane Katrina. Military tax returns One-year suspension of loan payments. Military tax returns   Payments on plan loans due before 2007 may be suspended for 1 year by the plan administrator. Military tax returns To qualify for the suspension, the due date for any loan payment must occur during the period beginning on: August 28, 2005, if your main home was located in the Hurricane Katrina disaster area. Military tax returns September 23, 2005, if your main home was located in the Hurricane Rita disaster area. Military tax returns October 23, 2005, if your main home was located in the Hurricane Wilma disaster area. Military tax returns If you are a qualified individual based on more than one hurricane, use the period with the earliest beginning date. Military tax returns Additional Tax Relief for Individuals Earned Income Credit and Child Tax Credit You can elect to use your 2004 earned income to figure your earned income credit (EIC) and additional child tax credit for 2005 if: Your 2005 earned income is less than your 2004 earned income, and At least one of the following statements is true. Military tax returns Your main home on August 25, 2005, was in the Gulf Opportunity (GO) Zone. Military tax returns Your main home on August 25, 2005, was in the Hurricane Katrina disaster area and you were displaced from that home because of Hurricane Katrina. Military tax returns Your main home on September 23, 2005, was in the Rita GO Zone. Military tax returns Your main home on September 23, 2005, was in the Hurricane Rita disaster area and you were displaced from that home because of Hurricane Rita. Military tax returns Your main home on October 23, 2005, was in the Wilma GO Zone. Military tax returns Your main home on October 23, 2005, was in the Hurricane Wilma disaster area and you were displaced from that home because of Hurricane Wilma. Military tax returns Earned income. Military tax returns    For the purpose of this election, your earned income for both the EIC and the additional child tax credit is the amount of earned income used to figure your EIC, even if you did not take the EIC and even if that amount is different than your earned income for the additional child tax credit. Military tax returns If you are claiming only the additional child tax credit, you must figure the amount of your earned income for EIC purposes to determine your eligibility to make the election and the amount of the credit. Military tax returns Joint returns. Military tax returns   If you file a joint return, you qualify to make this election even if only one spouse meets the requirements. Military tax returns If you make the election, your 2004 earned income is the sum of your 2004 earned income and your spouse's 2004 earned income. Military tax returns Making the election. Military tax returns   If you make the election to use your 2004 earned income, the election applies for figuring both the EIC and the additional child tax credit. Military tax returns However, you can make the election for the additional child tax credit even if you do not take the EIC. Military tax returns   Electing to use your 2004 earned income may increase or decrease your EIC. Military tax returns Take the following steps to decide whether to make the election. Military tax returns Figure your 2005 EIC using your 2004 earned income. Military tax returns Figure your 2005 additional child tax credit using your 2004 earned income for EIC purposes. Military tax returns Add the results of (1) and (2). Military tax returns Figure your 2005 EIC using your 2005 earned income. Military tax returns Figure your 2005 additional child tax credit using your 2005 earned income for additional child tax credit purposes. Military tax returns Add the results of (4) and (5). Military tax returns Compare the results of (3) and (6). Military tax returns If (3) is larger than (6), it is to your benefit to make the election. Military tax returns If (3) is equal to or smaller than (6), making the election will not help you. Military tax returns   If you elect to use your 2004 earned income and you are claiming the EIC, enter “PYEI” and the amount of your 2004 earned income on the dotted line next to line 66a of Form 1040, on the line next to line 41a of Form 1040A, or in the space to the left of line 8a of Form 1040EZ. Military tax returns   If you elect to use your 2004 earned income and you are claiming the additional child tax credit, enter your 2004 earned income for EIC purposes (even if you did not claim the EIC) on Form 8812, Additional Child Tax Credit, line 4a, and check the box on that line. Military tax returns   Because Form 8812 was released before the GO Zone legislation was enacted, the instructions refer only to individuals whose main home was in the Hurricane Katrina disaster area. Military tax returns When completing Form 8812, line 4a, use the above rules to determine your eligibility to make the election (instead of the Form 8812 instructions). Military tax returns Getting your 2004 tax return information. Military tax returns   If you do not have your 2004 tax records, you can get the amount of earned income used to figure your 2004 EIC by calling 1-866-562-5227. Military tax returns You can also get this information by visiting the IRS website at www. Military tax returns irs. Military tax returns gov. Military tax returns   If you prefer to figure your 2004 earned income yourself, copies or transcripts of your filed and processed tax returns can help you reconstruct your tax records. Military tax returns See Request for Copy or Transcript of Tax Return on page 16. Military tax returns Additional Exemption for Housing Individuals Displaced by Hurricane Katrina You may be able to claim an additional exemption amount of $500 for providing housing in your main home for each individual displaced by Hurricane Katrina. Military tax returns The additional exemption amount is claimed on new Form 8914. Military tax returns The additional exemption amount is allowable once per taxpayer for a specific individual in 2005 or 2006, but not in both years. Military tax returns The maximum additional exemption amount you can claim for all displaced individuals is $2,000 ($1,000 if married filing separately). Military tax returns The additional exemption amount you claim for displaced individuals in 2005 will reduce the $2,000 maximum for 2006. Military tax returns If two or more taxpayers share the same main home, only one taxpayer in that main home can claim the additional exemption amount for a specific displaced individual. Military tax returns If married filing separately, only one spouse may claim the additional exemption amount for a specific displaced individual. Military tax returns In order for you to be considered to have provided housing, you must have a legal interest in the main home (that is, own or rent the home). Military tax returns To qualify as a displaced individual, the individual: Must have had his or her main home in the Hurricane Katrina disaster area on August 28, 2005, and he or she must have been displaced from that home. Military tax returns If the individual's main home was located outside the core disaster area, that home must have been damaged by Hurricane Katrina or the individual must have been evacuated from that home because of Hurricane Katrina, Must have been provided housing in your main home for a period of at least 60 consecutive days ending in the tax year in which the exemption is claimed, and Cannot be your spouse or dependent. Military tax returns You cannot claim the additional exemption amount if you received rent (or any other amount) from any source for providing the housing. Military tax returns You are permitted to receive payments or reimbursements that do not relate to normal housing costs, including the following. Military tax returns Food, clothing, or personal items consumed or used by the displaced individual. Military tax returns Reimbursement for the cost of any long distance telephone calls made by the displaced individual. Military tax returns Reimbursement for the cost of gasoline for the displaced individual's use of your vehicle. Military tax returns However, you cannot claim the additional exemption amount if you received any reimbursement for the extra costs of heat, electricity, or water used by the displaced individual. Military tax returns Also, you must report on Form 8914 the displaced individual's social security number or individual taxpayer identification number to claim an additional exemption amount. Military tax returns For more information, see Form 8914. Military tax returns Education Credits The education credits have been expanded for students attending an eligible educational institution located in the Gulf Opportunity Zone (GOZ students) for any tax year beginning in 2005 or 2006. Military tax returns The Hope credit for a GOZ student is increased to 100% of the first $2,000 in qualified education expenses and 50% of the next $2,000 of qualified education expenses for a maximum credit of $3,000 per student. Military tax returns The lifetime learning credit rate for a GOZ student is increased from 20% to 40%. Military tax returns The definition of qualified education expenses for a GOZ student also has been expanded. Military tax returns In addition to tuition and fees required for the student's enrollment or attendance at an eligible educational institution, qualified education expenses for a GOZ student include the following. Military tax returns Books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. Military tax returns For a special needs student, expenses that are necessary for that person's enrollment or attendance at an eligible educational institution. Military tax returns For a student who is at least a half-time student, the reasonable costs of room and board, but only to the extent that the costs are not more than the greater of the following two amounts. Military tax returns The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Military tax returns The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Military tax returns You will need to contact the eligible educational institution for qualified room and board costs. Military tax returns For more information, see Form 8863. Military tax returns Recapture of Federal Mortgage Subsidy Generally, if you financed your home under a federally subsidized program (loans from tax-exempt qualified mortgage bonds or loans with mortgage credit certificates), you may have to recapture all or part of the benefit you received from that program when you sell or otherwise dispose of your home. Military tax returns However, you do not have to recapture any benefit if your mortgage loan was a qualified home improvement loan of not more than $15,000. Military tax returns This amount is increased to $150,000 if the loan was provided before 2011 and was used to: Repair damage caused by Hurricane Katrina to a residence in the Hurricane Katrina disaster area, or Alter, repair, or improve an existing owner-occupied residence in the GO Zone, Rita GO Zone, or Wilma GO Zone. Military tax returns Exclusion of Certain Cancellations of Indebtedness by Reason of Hurricane Katrina Generally, discharges of nonbusiness debts (such as mortgages) made after August 24, 2005, and before January 1, 2007, are excluded from income for individuals whose main home was in the Hurricane Katrina disaster area on August 25, 2005. Military tax returns If the individual's main home was located outside the core disaster area, the individual also must have had an economic loss because of Hurricane Katrina. Military tax returns Examples of an economic loss include, but are not limited to: Loss, damage to, or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause; Loss related to displacement from your home; or Loss of livelihood due to temporary or permanent layoffs. Military tax returns This relief does not apply to any debt secured by real property located outside the Hurricane Katrina disaster area. Military tax returns You may also have to reduce certain tax attributes by the amount excluded. Military tax returns For more information, see Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment). Military tax returns Tax Relief for Temporary Relocation Under the Gulf Opportunity Zone Act of 2005, the IRS may adjust the internal revenue laws to ensure that taxpayers do not lose a deduction or credit or experience a change of filing status in 2005 or 2006 as a result of a temporary relocation caused by Hurricane Katrina, Rita, or Wilma. Military tax returns However, any such adjustment must ensure that an individual is not taken into account by more than one taxpayer for the same tax benefit. Military tax returns The IRS has exercised this authority as follows. Military tax returns In determining whether you furnished over one-half of the cost of maintaining a household, you can exclude from total household costs any assistance received from the government or charitable organizations because you were temporarily relocated as a result of Hurricane Katrina, Rita, or Wilma. Military tax returns In determining whether you provided more than one-half of an individual's support, you can disregard any assistance received from the government or charitable organizations because you were temporarily relocated as a result of Hurricane Katrina, Rita, or Wilma. Military tax returns You can treat as a student an individual who enrolled in school before August 25, 2005, and who is unable to attend classes because of Hurricane Katrina, for each month of the enrollment period that individual is prevented by Hurricane Katrina from attending school as planned. Military tax returns You can treat as a student an individual who enrolled in school before September 23, 2005, and who is unable to attend classes because of Hurricane Rita, for each month of the enrollment period that individual is prevented by Hurricane Rita from attending school as planned. Military tax returns You can treat as a student an individual who enrolled in school before October 23, 2005, and who is unable to attend classes because of Hurricane Wilma, for each month of the enrollment period that individual is prevented by Hurricane Wilma from attending school as planned. Military tax returns Additional Tax Relief for Businesses Special Depreciation Allowance You can take a special depreciation allowance for qualified Gulf Opportunity (GO) Zone property (as defined below) you place in service after August 27, 2005. Military tax returns The allowance is an additional deduction of 50% of the property's depreciable basis (after any section 179 deduction and before figuring your regular depreciation deduction). Military tax returns The special allowance applies only for the first year the property is placed in service. Military tax returns The allowance is deductible for both the regular tax and the alternative minimum tax (AMT). Military tax returns There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. Military tax returns You can elect not to deduct the special GO Zone depreciation allowance for qualified property. Military tax returns If you make this election for any property, it applies to all property in the same class placed in service during the year. Military tax returns Qualified GO Zone property. Military tax returns   Property that qualifies for the special GO Zone depreciation allowance includes the following. Military tax returns Tangible property depreciated under the modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less. Military tax returns Water utility property. Military tax returns Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. Military tax returns (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Military tax returns ) Qualified leasehold improvement property. Military tax returns Nonresidential real property and residential rental property. Military tax returns   For more information on this property, see Publication 946. Military tax returns Other tests to be met. Military tax returns   To be qualified GO Zone property, the property must also meet all of the following tests. Military tax returns You must have acquired the property, by purchase, after August 27, 2005, but only if no binding written contract for the acquisition was in effect before August 28, 2005. Military tax returns The property must be placed in service before 2008 (2009 in the case of nonresidential real property and residential rental property). Military tax returns Substantially all of the use of the property must be in the GO Zone and in the active conduct of your trade or business in the GO Zone. Military tax returns The original use of the property in the GO Zone must begin with you after August 27, 2005. Military tax returns Used property can be qualified GO Zone property if it has not previously been used within the GO Zone. Military tax returns Also, additional capital expenditures you incurred after August 27, 2005, to recondition or rebuild your property meet the original use test if the original use of the property in the GO Zone began with you. Military tax returns Excepted property. Military tax returns   Qualified GO Zone property does not include any of the following. Military tax returns Property required to be depreciated using the Alternative Depreciation System (ADS). Military tax returns Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103. Military tax returns Property for which you are claiming a commercial revitalization deduction. Military tax returns Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. Military tax returns Any gambling or animal racing property (as defined below). Military tax returns Property in the same class as that for which you elected not to claim the special GO Zone depreciation allowance. Military tax returns   Gambling or animal racing property is: Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing, and The portion of any real property (determined by square footage) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing, unless this portion is less than 100 square feet. Military tax returns Recapture of special allowance. Military tax returns   If, in any year after the year you claim the special allowance, the property ceases to be qualified GO Zone property, you may have to recapture as ordinary income any excess benefit you received from claiming the special allowance. Military tax returns Increased Section 179 Deduction An increased section 179 deduction is allowable for qualified section 179 Gulf Opportunity (GO) Zone property (as defined later) placed in service in the GO Zone. Military tax returns Increased dollar limit. Military tax returns   The limit on the section 179 deduction ($105,000 for 2005, $108,000 for 2006) for qualified section 179 GO Zone property acquired after August 27, 2005, is increased by the smaller of: $100,000, or The cost of qualified section 179 GO Zone property placed in service during the year (including such property placed in service by your spouse, even if you are filing a separate return). Military tax returns   The amount for which you can make the election is reduced if the cost of all qualified section 179 GO Zone property you placed in service during the year exceeds $420,000 for 2005 ($430,000 for 2006) increased by the smaller of: $600,000, or The cost of qualified section 179 GO Zone property placed in service during the year. Military tax returns Qualified section 179 GO Zone property. Military tax returns   Qualified section 179 GO Zone property is section 179 property that is qualified GO Zone property (explained earlier under Special Depreciation Allowance). Military tax returns Section 179 property does not include nonresidential real property or residential rental property. Military tax returns For more information, including the requirements that must be met for property to qualify for the section 179 deduction, see chapter 2 of Publication 946. Military tax returns Work Opportunity Credit For the work opportunity credit, the definition of “targeted group employee” has been expanded to include a Hurricane Katrina employee. Military tax returns Hurricane Katrina employee. Military tax returns   A Hurricane Katrina employee is: A person who, on August 28, 2005, had a main home in the core disaster area and, within a two-year period beginning on that date, is hired to perform services principally in the core disaster area; or A person who, on August 28, 2005, had a main home in the core disaster area, was displaced from that main home as a result of Hurricane Katrina, and was hired during the period beginning on August 28, 2005, and ending on December 31, 2005. Military tax returns Qualified wages. Military tax returns   Generally, qualified wages do not include wages you paid to a targeted group employee who worked for you previously. Military tax returns However, wages will qualify if: You paid them to an employee who is a Hurricane Katrina employee, The employee was not in your employment on August 28, 2005, and This is your first hire of the employee as a Hurricane Katrina employee after August 28, 2005. Military tax returns   For more information, see Form 5884. Military tax returns Certification requirements. Military tax returns   An employee must provide to the employer reasonable evidence that he or she is a Hurricane Katrina employee. Military tax returns An employer may accept a completed Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity and Welfare-to-Work Credits, as such evidence. Military tax returns The certification requirements described in Form 8850 do not apply to a Hurricane Katrina employee. Military tax returns Do not send any Forms 8850 that have only box 1 checked to the state employment security agency. Military tax returns Instead, the employer should keep these Forms 8850 with the employer's other records. Military tax returns For more information, see Form 8850 and its instructions. Military tax returns Employee Retention Credit An eligible employer who conducted an active trade or business in the Gulf Opportunity (GO) Zone, the Rita GO Zone, or the Wilma GO Zone can claim the employee retention credit. Military tax returns The credit is 40% of qualified wages for each eligible employee (up to a maximum of $6,000 in qualified wages per employee). Military tax returns Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). Military tax returns Use Form 5884-A to claim the credit. Military tax returns See the following rules and definitions for each hurricane. Military tax returns Employers affected by Hurricane Katrina. Military tax returns   The following definitions apply to employers affected by Hurricane Katrina. Military tax returns Eligible employer. Military tax returns   For this purpose, an eligible employer is any employer who conducted an active trade or business on August 28, 2005, in the GO Zone and whose trade or business was inoperable on any day after August 28, 2005, and before January 1, 2006, because of damage caused by Hurricane Katrina. Military tax returns Eligible employee. Military tax returns   For this purpose, an eligible employee is an employee whose principal place of employment on August 28, 2005, with such eligible employer was in the GO Zone. Military tax returns An employee is not an eligible employee for purposes of Hurricane Katrina if the employee is treated as an eligible employee for the work opportunity credit. Military tax returns Employers affected by Hurricane Rita. Military tax returns   The following definitions apply to employers affected by Hurricane Rita. Military tax returns Eligible employer. Military tax returns   For this purpose, an eligible employer is any employer who conducted an active trade or business on September 23, 2005, in the Rita GO Zone and whose trade or business was inoperable on any day after September 23, 2005, and before January 1, 2006, because of damage caused by Hurricane Rita. Military tax returns Eligible employee. Military tax returns   For this purpose, an eligible employee is an employee whose principal place of employment on September 23, 2005, with such eligible employer was in the Rita GO Zone. Military tax returns An employee is not an eligible employee for purposes of Hurricane Rita if the employee is treated as an eligible employee for the work opportunity credit or the Hurricane Katrina employee retention credit. Military tax returns Employers affected by Hurricane Wilma. Military tax returns   The following definitions apply to employers affected by Hurricane Wilma. Military tax returns Eligible employer. Military tax returns   For this purpose, an eligible employer is any employer who conducted an active trade or business on October 23, 2005, in the Wilma GO Zone and whose trade or business was inoperable on any day after October 23, 2005, and before January 1, 2006, because of damage caused by Hurricane Wilma. Military tax returns Eligible employee. Military tax returns   For this purpose, an eligible employee is an employee whose principal place of employment on October 23, 2005, with such eligible employer was in the Wilma GO Zone. Military tax returns An employee is not an eligible employee for purposes of Hurricane Wilma if the employee is treated as an eligible employee for the work opportunity credit or the Hurricane Katrina or Rita employee retention credit. Military tax returns Qualified wages. Military tax returns   Qualified wages are wages you paid or incurred before January 1, 2006, (up to $6,000 per employee) for an eligible employee beginning on the date your trade or business first became inoperable at the employee's principal place of employment immediately before the applicable hurricane, and ending on the date your trade or business resumed significant operations at that place. Military tax returns In addition, the wages must have been paid or incurred after the following date. Military tax returns August 28, 2005, for Hurricane Katrina. Military tax returns September 23, 2005, for Hurricane Rita. Military tax returns October 23, 2005, for Hurricane Wilma. Military tax returns    This includes wages paid even if the employee performed no services, performed services at a place of employment other than the principal place of employment, or performed services at the principal place of employment before significant operations resumed. Military tax returns    Wages qualifying for the credit generally have the same meaning as wages subject to the Federal Unemployment Tax Act (FUTA). Military tax returns Qualified wages also include amounts you paid for medical or hospitalization expenses in connection with sickness or accident disability. Military tax returns Qualified wages for any employee must be reduced by the amount of any work supplementation payment you received under the Social Security Act. Military tax returns   For agricultural employees, if the work performed by any employee during more than half of any pay period qualified under FUTA as agricultural labor, that employee's wages subject to social security and Medicare taxes are qualified wages. Military tax returns For a special rule that applies to railroad employees, see section 51(h)(1)(B). Military tax returns   Qualified wages do not include the following. Military tax returns Wages paid to your dependent or a related individual. Military tax returns See section 51(i)(1). Military tax returns Wages paid to any employee during the period for which you received payment for the employee from a federally funded on-the-job training program. Military tax returns Wages for services of replacement workers during a strike or lockout. Military tax returns   For more information, see Form 5884-A. Military tax returns Hurricane Katrina Housing Credit An employer who conducted an active trade or business in the Gulf Opportunity (GO) Zone can claim the Hurricane Katrina housing credit. Military tax returns The credit is equal to 30% of the value (up to $600 per month per employee) of in-kind lodging furnished to a qualified employee (and the employee's spouse or dependents) from January 1, 2006, through July 1, 2006. Military tax returns The value of the lodging is excluded from the income of the qualified employee but is treated as wages for purposes of taxes imposed under the Federal Insurance Contributions Act (FICA) and the Federal Unemployment Tax Act (FUTA). Military tax returns Generally, you must reduce your deduction for salaries and wages by the amount of this credit (before the tax liability limit). Military tax returns The employer must use Form 5884-A to claim the credit. Military tax returns A qualified employee is an individual who had a main home in the GO Zone on August 28, 2005, and who performs substantially all employment services in the GO Zone for the employer furnishing the lodging. Military tax returns The employee cannot be your dependent or a related individual. Military tax returns See section 51(i)(1). Military tax returns For more information, see Form 5884-A. Military tax returns Reforestation Costs You may be able to elect to deduct a limited amount of reforestation costs for each qualified timber property. Military tax returns The deduction for any tax year generally is limited to $10,000 ($5,000 if married filing separately, $0 for a trust). Military tax returns However, this limit is increased if you paid or incurred reforestation costs after the applicable date below and any portion of the qualified timber property is located in one of the following areas. Military tax returns August 27, 2005, if any portion of the property is located in the GO Zone. Military tax returns September 22, 2005, if any portion of the property is located in the Rita GO Zone (but not in the GO Zone). Military tax returns October 22, 2005, if any portion of the property is located in the Wilma GO Zone. Military tax returns The limit for each qualified timber property is increased by the smaller of: $10,000 ($5,000 if married filing separately, $0 for a trust), or The amount of reforestation costs you paid or incurred after the applicable date for the qualified timber property, any portion of which is located in the zone described above. Military tax returns The increase in the limit applies only to costs paid or incurred before 2008. Military tax returns However, these rules do not apply to any timber producer who: Held more than 500 acres of qualified timber property at any time during the tax year, Is a corporation with stock publicly traded on an established securities market, or Is a real estate investment trust. Military tax returns For more information about the election to deduct reforestation costs, see chapter 8 in Publication 535, Business Expenses. Military tax returns Demolition and Clean-up Costs You can elect to deduct 50% of any qualified GO Zone clean-up costs for the tax year in which the costs are paid or incurred, instead of capitalizing them. Military tax returns Qualified GO Zone clean-up costs are any amounts paid or incurred after August 27, 2005, and before January 1, 2008, for the removal of debris from, or the demolition of structures on, real property located in the GO Zone that is: Held by you for use in a trade or business or for the production of income, or Inventory or other property held primarily for sale to customers in the ordinary course of your trade or business. Military tax returns Increase in Rehabilitation Tax Credit The rehabilitation credit is increased for qualified rehabilitation expenditures paid or incurred after August 27, 2005, and before January 1, 2009, on buildings located in the GO Zone as follows. Military tax returns For pre-1936 buildings (other than certified historic structures), the credit percentage is increased from 10% to 13%. Military tax returns For certified historic structures, the credit percentage is increased from 20% to 26%. Military tax returns For more information, see Form 3468, Investment Credit. Military tax returns Request for Copy or Transcript of Tax Return Request for copy of tax return. Military tax returns   You can use Form 4506 to order a copy of your tax return. Military tax returns Generally, there is a $39. Military tax returns 00 fee for requesting each copy of a tax return. Military tax returns If your main home, principal place of business, or tax records are located in a Presidentially declared disaster area, the fee will be waived if the assigned disaster designation (for example, “Hurricane Katrina”) is written in red across the top of the form when filed. Military tax returns Request for transcript of tax return. Military tax returns   You can use Form 4506-T to order a free transcript of your tax return. Military tax returns A transcript provides most of the line entries from a tax return and usually contains the information that a third party requires. Military tax returns You can also call 1-800-829-1040 to order a transcript. Military tax returns How To Get Tax Help Special IRS assistance. Military tax returns   The IRS is providing special help for those affected by Hurricane Katrina, Rita, or Wilma, as well as survivors and personal representatives of the victims. Military tax returns We have set up a special toll-free number for people who may have trouble filing or paying their taxes because they were affected by Hurricane Katrina, Rita, or Wilma, or who have other tax issues related to the hurricanes. Military tax returns Call 1-866-562-5227 Monday through Friday In English-7 a. Military tax returns m. Military tax returns to 10 p. Military tax returns m. Military tax returns local time In Spanish-8 a. Military tax returns m. Military tax returns to 9:30 p. Military tax returns m. Military tax returns local time   The IRS website at www. Military tax returns irs. Military tax returns gov has notices and other tax relief information. Military tax returns Check it periodically for any new guidance. Military tax returns Other help from the IRS. Military tax returns   You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get more information from the IRS in several ways. Military tax returns By selecting the method that is best for you, you will have quick and easy access to tax help. Military tax returns Contacting your Taxpayer Advocate. Military tax returns   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. Military tax returns   The Taxpayer Advocate independently represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. Military tax returns While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. Military tax returns   To contact your Taxpayer Advocate: Call the Taxpayer Advocate toll free at 1-877-777-4778. Military tax returns Call, write, or fax the Taxpayer Advocate office in your area. Military tax returns Call 1-800-829-4059 if you are a TTY/TDD user. Military tax returns Visit www. Military tax returns irs. Military tax returns gov/advocate. Military tax returns   For more information, see Publication 1546, How To Get Help With Unresolved Tax Problems (now available in Chinese, Korean, Russian, and Vietnamese, in addition to English and Spanish). Military tax returns Free tax services. Military tax returns   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Military tax returns It contains a list of free tax publications and an index of tax topics. Military tax returns It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Military tax returns Internet. Military tax returns You can access the IRS website 24 hours a day, 7 days a week, at www. Military tax returns irs. Military tax returns gov to: E-file your return. Military tax returns Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Military tax returns Check the status of your refund. Military tax returns Click on Where's My Refund. Military tax returns Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Military tax returns Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Military tax returns Download forms, instructions, and publications. Military tax returns Order IRS products online. Military tax returns Research your tax questions online. Military tax returns Search publications online by topic or keyword. Military tax returns View Internal Revenue Bulletins (IRBs) published in the last few years. Military tax returns Figure your withholdin