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State 1040ez Tax Form

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State 1040ez Tax Form

State 1040ez tax form 7. State 1040ez tax form   Filing Information Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: What, When, and Where To FileResident Aliens Nonresident Aliens Amended Returns and Claims for Refund Other Forms You May Have To File PenaltiesCivil Penalties Criminal Penalties Introduction This chapter provides the basic filing information that you may need. State 1040ez tax form Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. State 1040ez tax form Useful Items - You may want to see: Forms (and Instructions) 1040 U. State 1040ez tax form S. State 1040ez tax form Individual Income Tax Return 1040A U. State 1040ez tax form S. State 1040ez tax form Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. State 1040ez tax form S. State 1040ez tax form Nonresident Alien Income Tax Return 1040NR-EZ U. State 1040ez tax form S. State 1040ez tax form Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. State 1040ez tax form What, When, and Where To File What return you must file as well as when and where you file that return, depends on your status at the end of the tax year as a resident or a nonresident alien. State 1040ez tax form Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. State 1040ez tax form The due date for filing the return and paying any tax due is April 15 of the year following the year for which you are filing a return (but see the Tip, later). State 1040ez tax form Under U. State 1040ez tax form S. State 1040ez tax form immigration law, a lawful permanent resident who is required to file a tax return as a resident and fails to do so may be regarded as having abandoned status and may lose permanent resident status. State 1040ez tax form Extensions of time to file. State 1040ez tax form   You are allowed an automatic extension to June 15 to file if your main place of business and the home you live in are outside the United States and Puerto Rico on April 15. State 1040ez tax form You can get an extension of time to October 15 to file your return if you get an extension by April 15 (June 15 if you qualify for the June 15 extension). State 1040ez tax form Use Form 4868 to get the extension to October 15. State 1040ez tax form In addition to this 6-month extension, taxpayers who are out of the country (as defined in the Form 4868 instructions) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). State 1040ez tax form To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. State 1040ez tax form Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address:  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. State 1040ez tax form   The discretionary 2-month additional extension is not available to taxpayers who have an approved extension of time to file on Form 2350 (for U. State 1040ez tax form S. State 1040ez tax form citizens and resident aliens abroad who expect to qualify for special tax treatment). State 1040ez tax form    If the due date for filing falls on a Saturday, Sunday, or legal holiday, the due date is the next day which is not a Saturday, Sunday, or legal holiday. State 1040ez tax form You may be able to file your return electronically. State 1040ez tax form See IRS e-file in your form instructions. State 1040ez tax form Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. State 1040ez tax form If you are any of the following, you must file a return. State 1040ez tax form A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. State 1040ez tax form (But see Exceptions , later. State 1040ez tax form ) You must file even if: Your income did not come from a trade or business conducted in the United States, You have no income from U. State 1040ez tax form S. State 1040ez tax form sources, or Your income is exempt from income tax. State 1040ez tax form A nonresident alien individual not engaged in a trade or business in the United States with U. State 1040ez tax form S. State 1040ez tax form income on which the tax liability was not satisfied by the withholding of tax at the source. State 1040ez tax form A representative or agent responsible for filing the return of an individual described in (1) or (2). State 1040ez tax form A fiduciary for a nonresident alien estate or trust. State 1040ez tax form You must also file if you want to: Claim a refund of overwithheld or overpaid tax, or Claim the benefit of any deductions or credits. State 1040ez tax form For example, if you have no U. State 1040ez tax form S. State 1040ez tax form business activities but have income from real property that you choose to treat as effectively connected income (discussed in chapter 4), you must timely file a true and accurate return to take any allowable deductions against that income. State 1040ez tax form For information on what is timely, see When to file for deductions and credits under When To File, later. State 1040ez tax form Exceptions. State 1040ez tax form   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. State 1040ez tax form Your only U. State 1040ez tax form S. State 1040ez tax form trade or business was the performance of personal services, and Your wages were less than $3,900, and You have no other need to file a return to claim a refund of overwithheld taxes, to satisfy additional withholding at source, or to claim income exempt or partly exempt by treaty. State 1040ez tax form You were a nonresident alien student, teacher, or trainee who was temporarily present in the United States under an “F,” “J,” “M,” or “Q” visa and you have no income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc. State 1040ez tax form Even if you have left the United States and filed a Form 1040-C, U. State 1040ez tax form S. State 1040ez tax form Departing Alien Income Tax Return, on departure, you still must file an annual U. State 1040ez tax form S. State 1040ez tax form income tax return. State 1040ez tax form If you are married and both you and your spouse are required to file, you must each file a separate return. State 1040ez tax form Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. State 1040ez tax form You do not claim any dependents. State 1040ez tax form You cannot be claimed as a dependent on someone else's U. State 1040ez tax form S. State 1040ez tax form tax return. State 1040ez tax form If you were married, you do not claim an exemption for your spouse. State 1040ez tax form Your taxable income is less than $100,000. State 1040ez tax form The only itemized deduction you can claim is for state and local income taxes. State 1040ez tax form Note. State 1040ez tax form Residents of India who were students or business apprentices may be able to take the standard deduction instead of the itemized deduction for state and local income taxes. State 1040ez tax form See chapter 5. State 1040ez tax form Your only U. State 1040ez tax form S. State 1040ez tax form source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. State 1040ez tax form (If you had taxable interest or dividend income, you cannot use this form. State 1040ez tax form ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. State 1040ez tax form You are not claiming any tax credits. State 1040ez tax form This is not an “expatriation return. State 1040ez tax form ” See Expatriation Tax in chapter 4. State 1040ez tax form The only taxes you owe are: The income tax from the Tax Table. State 1040ez tax form The social security and Medicare tax from Form 4137 or Form 8919. State 1040ez tax form You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. State 1040ez tax form You are not filing Form 8959, to figure the amount of Additional Medicare Tax you owe and/or the amount of Additional Medicare Tax withheld by your employer, if any. State 1040ez tax form If you do not meet all of the above conditions, you must file Form 1040NR. State 1040ez tax form When To File If you are an employee and you receive wages subject to U. State 1040ez tax form S. State 1040ez tax form income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. State 1040ez tax form For the 2013 calendar year, file your return by April 15, 2014. State 1040ez tax form If you are not an employee who receives wages subject to U. State 1040ez tax form S. State 1040ez tax form income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. State 1040ez tax form For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. State 1040ez tax form ) Extensions of time to file. State 1040ez tax form   If you cannot file your return by the due date, file Form 4868 or use one of the electronic filing options explained in the Form 4868 instructions. State 1040ez tax form For the 2013 calendar year, this will extend the due date to October 15, 2014 (December 15, 2014, if the regular due date of your return is June 16, 2014). State 1040ez tax form You must file the extension by the regular due date of your return. State 1040ez tax form   In addition to the 6-month extension to October 15, taxpayers whose main place of business is outside the United States and Puerto Rico and who live outside those jurisdictions can request a discretionary 2-month extension of time to file their returns (to December 15 for calendar year taxpayers). State 1040ez tax form To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. State 1040ez tax form Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address: Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. State 1040ez tax form When to file for deductions and credits. State 1040ez tax form   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. State 1040ez tax form For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. State 1040ez tax form However, if you did not file a 2012 tax return and 2013 is not the first year for which you are required to file one, your 2013 return is timely for this purpose if it is filed by the earlier of: The date that is 16 months after the due date for filing your 2013 return, or The date the IRS notifies you that your 2013 return has not been filed and that you cannot claim certain deductions and credits. State 1040ez tax form The allowance of the following credits is not affected by this time requirement. State 1040ez tax form Credit for withheld taxes. State 1040ez tax form Credit for excise tax on certain uses of gasoline and special fuels. State 1040ez tax form Credit for tax paid by a mutual fund (or other regulated investment company) or a real estate investment trust on undistributed long-term capital gains. State 1040ez tax form Protective return. State 1040ez tax form   If your activities in the United States were limited and you do not believe that you had any gross income effectively connected with a U. State 1040ez tax form S. State 1040ez tax form trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. State 1040ez tax form By filing a protective return, you protect your right to receive the benefit of deductions and credits in the event it is later determined that some or all of your income is effectively connected. State 1040ez tax form You are not required to report any effectively connected income or any deductions on the protective return, but you must give the reason the return is being filed. State 1040ez tax form   If you believe some of your activities resulted in effectively connected income, file your return reporting that income and related deductions by the regular due date. State 1040ez tax form To protect your right to claim deductions or credits resulting from other activities, attach a statement to that return explaining that you wish to protect your right to claim deductions and credits if it is later determined that the other activities produced effectively connected income. State 1040ez tax form   You can follow the same procedure if you believe you have no U. State 1040ez tax form S. State 1040ez tax form tax liability because of a U. State 1040ez tax form S. State 1040ez tax form tax treaty. State 1040ez tax form Be sure to also complete item L on page 5 of Form 1040NR. State 1040ez tax form Waiver of filing deadline. State 1040ez tax form   The IRS may waive the filing deadline if you establish that, based on the facts and circumstances, you acted reasonably and in good faith in failing to file a U. State 1040ez tax form S. State 1040ez tax form income tax return (including a protective return) and you cooperate with the IRS in determining your U. State 1040ez tax form S. State 1040ez tax form income tax liability for the tax year for which you did not file a return. State 1040ez tax form Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. State 1040ez tax form  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. State 1040ez tax form O. State 1040ez tax form Box 1303 Charlotte, NC 28201-1303 Aliens from the U. State 1040ez tax form S. State 1040ez tax form Virgin Islands. State 1040ez tax form    If you are a bona fide resident of the U. State 1040ez tax form S. State 1040ez tax form Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. State 1040ez tax form S. State 1040ez tax form Virgin Islands and file your income tax returns at the following address. State 1040ez tax form Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. State 1040ez tax form Thomas, VI 00802   Report all income from U. State 1040ez tax form S. State 1040ez tax form sources, as well as income from other sources, on your return. State 1040ez tax form For information on filing U. State 1040ez tax form S. State 1040ez tax form Virgin Islands returns, contact the U. State 1040ez tax form S. State 1040ez tax form Virgin Islands Bureau of Internal Revenue. State 1040ez tax form   Chapter 8 discusses withholding from U. State 1040ez tax form S. State 1040ez tax form wages of U. State 1040ez tax form S. State 1040ez tax form Virgin Islanders. State 1040ez tax form Aliens from Guam or the Commonwealth of the Northern Mariana Islands. State 1040ez tax form   If you are a bona fide resident of Guam or the Commonwealth of the Northern Mariana Islands (CNMI) during your entire tax year, you must file your return with, and pay any tax due to, Guam or the CNMI. State 1040ez tax form Report all income, including income from U. State 1040ez tax form S. State 1040ez tax form sources, on your return. State 1040ez tax form It is not necessary to file a separate U. State 1040ez tax form S. State 1040ez tax form income tax return. State 1040ez tax form    Bona fide residents of Guam should file their Guam returns at the following address. State 1040ez tax form   Department of Revenue and Taxation Government of Guam P. State 1040ez tax form O. State 1040ez tax form Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. State 1040ez tax form   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. State 1040ez tax form O. State 1040ez tax form Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. State 1040ez tax form 570, Tax Guide for Individuals With Income From U. State 1040ez tax form S. State 1040ez tax form Possessions, for information on where to file your return. State 1040ez tax form Amended Returns and Claims for Refund If you find changes in your income, deductions, or credits after you mail your return, file Form 1040X, Amended U. State 1040ez tax form S. State 1040ez tax form Individual Income Tax Return. State 1040ez tax form Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. State 1040ez tax form If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. State 1040ez tax form ) to Form 1040X. State 1040ez tax form Print “Amended” across the top. State 1040ez tax form Ordinarily, an amended return claiming a refund must be filed within 3 years from the date your return was filed or within 2 years from the time the tax was paid, whichever is later. State 1040ez tax form A return filed before the final due date is considered to have been filed on the due date. State 1040ez tax form Other Forms You May Have To File You may be required to file information returns to report certain foreign income or assets, or monetary transactions. State 1040ez tax form FinCen Form 105 FinCEN Form 105 (formerly Customs Form 4790), Report of International Transportation of Currency or Monetary Instruments, must be filed by each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped, currency or other monetary instruments in a total amount of more than $10,000 at one time from the United States to any place outside the United States, or into the United States from any place outside the United States. State 1040ez tax form The filing requirement also applies to each person who receives in the United States currency or monetary instruments totaling more than $10,000 at one time from any place outside of the United States. State 1040ez tax form The term “monetary instruments” means the following: Coin and currency of the United States or of any other country, Travelers' checks in any form, Investment securities or stock in bearer form or otherwise in such form that title to them passes upon delivery, Negotiable instruments (including checks, promissory notes, and money orders) in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title to them passes upon delivery, and Checks, promissory notes, and money orders which are signed but on which the name of the payee has been omitted. State 1040ez tax form However, the term does not include: Checks or money orders made payable to the order of a named person which have not been endorsed or which contain restrictive endorsements, Warehouse receipts, or Bills of lading. State 1040ez tax form A transfer of funds through normal banking procedures (wire transfer) that does not involve the physical transportation of currency or monetary instruments is not required to be reported on FinCEN Form 105. State 1040ez tax form Filing requirements. State 1040ez tax form   FinCEN Form 105 filing requirements follow. State 1040ez tax form Recipients. State 1040ez tax form   Each person who receives currency or other monetary instruments in the United States must file FinCEN Form 105 within 15 days after receipt, with the Customs officer in charge at any port of entry or departure, or by mail at the following address. State 1040ez tax form Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. State 1040ez tax form   If the currency or other monetary instrument does not accompany the person entering or departing the United States, FinCEN Form 105 can be filed by mail at the above address on or before the date of entry, departure, mailing, or shipping. State 1040ez tax form Travelers. State 1040ez tax form   Travelers must file FinCEN Form 105 with the Customs officer in charge at any Customs port of entry or departure, when entering or departing the United States. State 1040ez tax form Penalties. State 1040ez tax form   Civil and criminal penalties are provided for failing to file a report, filing a report containing material omissions or misstatements, or filing a false or fraudulent report. State 1040ez tax form Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. State 1040ez tax form More information. State 1040ez tax form   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. State 1040ez tax form Form 8938 You may have to file Form 8938, Statement of Specified Foreign Financial Assets, to report the ownership of specified foreign financial asset(s) if you are one of the following individuals. State 1040ez tax form A resident alien of the United States for any part of the tax year. State 1040ez tax form A resident alien of the United States who elects to be treated as a resident of a foreign country under the provisions of a U. State 1040ez tax form S. State 1040ez tax form income tax treaty. State 1040ez tax form See Effect of Tax Treaties in chapter 1. State 1040ez tax form A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. State 1040ez tax form See chapter 1 for information about this election. State 1040ez tax form A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. State 1040ez tax form See Publication 570, Tax Guide for Individuals With Income From U. State 1040ez tax form S. State 1040ez tax form Possessions, for a definition of bona fide resident. State 1040ez tax form You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). State 1040ez tax form The reporting threshold varies depending on whether you live in the United States, are married, or file a joint income tax return with your spouse. State 1040ez tax form Specified foreign financial assets include any financial account maintained by a foreign financial institution and, to the extent held for investment, any stock, securities, or any other interest in a foreign entity and any financial instrument or contract with an issuer or counterparty that is not a U. State 1040ez tax form S. State 1040ez tax form person. State 1040ez tax form You may have to pay penalties if you are required to file Form 8938 and fail to do so, or if you have an understatement of tax due to any transaction involving an undisclosed foreign financial asset. State 1040ez tax form More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. State 1040ez tax form Penalties The law provides penalties for failure to file returns or pay taxes as required. State 1040ez tax form Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. State 1040ez tax form You may also have to pay a penalty if you substantially understate your tax, file a frivolous tax submission, or fail to supply your taxpayer identification number. State 1040ez tax form If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. State 1040ez tax form Filing late. State 1040ez tax form   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. State 1040ez tax form The penalty is based on the tax not paid by the due date (without regard to extensions). State 1040ez tax form The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. State 1040ez tax form Fraud. State 1040ez tax form   If your failure to file is due to fraud, the penalty is 15% for each month or part of a month that your return is late, up to a maximum of 75%. State 1040ez tax form Return over 60 days late. State 1040ez tax form   If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. State 1040ez tax form Exception. State 1040ez tax form   You will not have to pay the penalty if you show that you failed to file on time because of reasonable cause and not because of willful neglect. State 1040ez tax form Paying tax late. State 1040ez tax form   You will have to pay a failure-to-pay penalty of ½ of 1% (. State 1040ez tax form 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. State 1040ez tax form This penalty does not apply during the automatic 6-month extension of time to file period, if you paid at least 90% of your actual tax liability on or before the due date of your return and pay the balance when you file the return. State 1040ez tax form   The monthly rate of the failure-to-pay penalty is half the usual rate (. State 1040ez tax form 25% instead of . State 1040ez tax form 50%) if an installment agreement is in effect for that month. State 1040ez tax form You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. State 1040ez tax form   If a notice of intent to levy is issued, the rate will increase to 1% at the start of the first month beginning at least 10 days after the day that the notice is issued. State 1040ez tax form If a notice and demand for immediate payment is issued, the rate will increase to 1% at the start of the first month beginning after the day that the notice and demand is issued. State 1040ez tax form   This penalty cannot be more than 25% of your unpaid tax. State 1040ez tax form You will not have to pay the penalty if you can show that you had a good reason for not paying your tax on time. State 1040ez tax form Combined penalties. State 1040ez tax form   If both the failure-to-file penalty and the failure-to-pay penalty (discussed earlier) apply in any month, the 5% (or 15%) failure-to-file penalty is reduced by the failure-to-pay penalty. State 1040ez tax form However, if you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. State 1040ez tax form Accuracy-related penalty. State 1040ez tax form   You may have to pay an accuracy-related penalty if you underpay your tax because: You show negligence or disregard of rules or regulations, You substantially understate your income tax, You claim tax benefits for a transaction that lacks economic substance, or You fail to disclose a foreign financial asset. State 1040ez tax form The penalty is equal to 20% of the underpayment. State 1040ez tax form The penalty is 40% of any portion of the underpayment that is attributable to an undisclosed noneconomic substance transaction or an undisclosed foreign financial asset transaction. State 1040ez tax form The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. State 1040ez tax form Negligence or disregard. State 1040ez tax form   The term “negligence” includes a failure to make a reasonable attempt to comply with the tax law or to exercise ordinary and reasonable care in preparing a return. State 1040ez tax form Negligence also includes failure to keep adequate books and records. State 1040ez tax form You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. State 1040ez tax form   The term “disregard” includes any careless, reckless, or intentional disregard. State 1040ez tax form Adequate disclosure. State 1040ez tax form   You can avoid the penalty for disregard of rules or regulations if you adequately disclose on your return a position that has at least a reasonable basis. State 1040ez tax form See Disclosure statement , later. State 1040ez tax form   This exception will not apply to an item that is attributable to a tax shelter. State 1040ez tax form In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. State 1040ez tax form Substantial understatement of income tax. State 1040ez tax form   You understate your tax if the tax shown on your return is less than the correct tax. State 1040ez tax form The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. State 1040ez tax form However, the amount of the understatement is reduced to the extent the understatement is due to: Substantial authority, or Adequate disclosure and a reasonable basis. State 1040ez tax form   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. State 1040ez tax form However, there is a reduction for a position with substantial authority, but only if you reasonably believed that your tax treatment was more likely than not the proper treatment. State 1040ez tax form Substantial authority. State 1040ez tax form   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. State 1040ez tax form Consideration will be given to court opinions, Treasury regulations, revenue rulings, revenue procedures, and notices and announcements issued by the IRS and published in the Internal Revenue Bulletin that involve the same or similar circumstances as yours. State 1040ez tax form Disclosure statement. State 1040ez tax form   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. State 1040ez tax form You must also have a reasonable basis for treating the item the way you did. State 1040ez tax form   In cases of substantial understatement only, items that meet the requirements of Revenue Procedure 2012-51, 2012-51 IRB 719 (or later update) are considered adequately disclosed on your return without filing Form 8275. State 1040ez tax form   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. State 1040ez tax form Transaction lacking economic substance. State 1040ez tax form   For more information on economic substance, see section 7701(o). State 1040ez tax form Foreign financial asset. State 1040ez tax form   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. State 1040ez tax form Reasonable cause. State 1040ez tax form   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. State 1040ez tax form You must also show that you acted in good faith. State 1040ez tax form This does not apply to a transaction that lacks economic substance. State 1040ez tax form Filing erroneous claim for refund or credit. State 1040ez tax form   You may have to pay a penalty if you file an erroneous claim for refund or credit. State 1040ez tax form The penalty is equal to 20% of the disallowed amount of the claim, unless you can show a reasonable basis for the way you treated an item. State 1040ez tax form However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. State 1040ez tax form The penalty will not be figured on any part of the disallowed amount of the claim that relates to the earned income credit or on which the accuracy-related or fraud penalties are charged. State 1040ez tax form Frivolous tax submission. State 1040ez tax form   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. State 1040ez tax form A frivolous tax return is one that does not include enough information to figure the correct tax or that contains information clearly showing that the tax you reported is substantially incorrect. State 1040ez tax form For more information on frivolous returns, frivolous submissions, and a list of positions that are identified as frivolous, see Notice 2010-33, 2010-17 IRB 609 available at www. State 1040ez tax form irs. State 1040ez tax form gov/irb/2010-17_irb/ar13. State 1040ez tax form html. State 1040ez tax form   You will have to pay the penalty if you filed this kind of return or submission based on a frivolous position or a desire to delay or interfere with the administration of federal tax laws. State 1040ez tax form This includes altering or striking out the preprinted language above the space provided for your signature. State 1040ez tax form   This penalty is added to any other penalty provided by law. State 1040ez tax form Fraud. State 1040ez tax form   If there is any underpayment of tax on your return due to fraud, a penalty of 75% of the underpayment due to fraud will be added to your tax. State 1040ez tax form Failure to supply taxpayer identification number. State 1040ez tax form   If you do not include your social security number (SSN) or individual taxpayer identification number (ITIN) or the SSN or ITIN of another person where required on a return, statement, or other document, you will be subject to a penalty of $50 for each failure. State 1040ez tax form You will also be subject to a penalty of $50 if you do not give your SSN or ITIN to another person when it is required on a return, statement, or other document. State 1040ez tax form   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. State 1040ez tax form The number must be shown on the Form 1099-INT or other statement the bank sends you. State 1040ez tax form If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. State 1040ez tax form (You also may be subject to “backup” withholding of income tax. State 1040ez tax form )   You will not have to pay the penalty if you are able to show that the failure was due to reasonable cause and not willful neglect. State 1040ez tax form Criminal Penalties You may be subject to criminal prosecution (brought to trial) for actions such as: Tax evasion, Willful failure to file a return, supply information, or pay any tax due, Fraud and false statements, or Preparing and filing a fraudulent return. State 1040ez tax form Prev  Up  Next   Home   More Online Publications
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The State 1040ez Tax Form

State 1040ez tax form Publication 534 - Introductory Material Table of Contents Important Change for 1995 Introduction How To Use This Publication Important Change for 1995 Major changes to Publications 534 and 946. State 1040ez tax form  This publication, as well as Publication 946,How To Depreciate Property, has been changed. State 1040ez tax form Publication 534 has been shortened. State 1040ez tax form It no longer contains general information on MACRS and the section 179 deduction. State 1040ez tax form It contains a discussion of the accelerated cost recovery system (ACRS), the ACRS Percentage Tables, a discussion of other methods of depreciation, and a limited discussion of listed property. State 1040ez tax form We expanded Publication 946 by adding material taken from Publication 534. State 1040ez tax form We added more detail to the discussions of the section 179 deduction, the modified accelerated cost recovery system (MACRS), and listed property. State 1040ez tax form We replaced the partialMACRS Percentage Tables with the complete ones from Publication 534. State 1040ez tax form We also added the Table of Class Lives and Recovery Periods from Publication 534. State 1040ez tax form We made these changes to eliminate most of the duplication that existed in the two publications. State 1040ez tax form This will save money and make it easier for you to decide which publication you need. State 1040ez tax form Use this publication to figure depreciation on property you placed in service before 1987; use Publication 946 to figure depreciation on property you placed in service after 1986. State 1040ez tax form Introduction The law allows you to recover your cost in business or income-producing property through yearly tax deductions. State 1040ez tax form You do this by depreciating your property, that is, by deducting some of your cost on your tax return each year. State 1040ez tax form You can depreciate both tangible property, such as a car, building, or machinery, and certain intangible property, such as a copyright or a patent. State 1040ez tax form The amount you can deduct depends on: How much the property cost, When you began using it, How long it will take to recover your cost, and Which of several depreciation methods you use. State 1040ez tax form Depreciation defined. State 1040ez tax form   Depreciation is a loss in the value of property over the time the property is being used. State 1040ez tax form Events that can cause property to depreciate include wear and tear, age, deterioration, and obsolescence. State 1040ez tax form You can get back your cost of certain property, such as equipment you use in your business or property used for the production of income by taking deductions for depreciation. State 1040ez tax form Black's Law Dictionary Amortization. State 1040ez tax form   Amortization is similar to depreciation. State 1040ez tax form Using amortization, you can recover your cost or basis in certain property proportionately over a specific number of years or months. State 1040ez tax form Examples of costs you can amortize are the costs of starting a business, reforestation, and pollution control facilities. State 1040ez tax form You can find information on amortization inchapter 12 of Publication 535, Business Expenses. State 1040ez tax form Alternative minimum tax. State 1040ez tax form   If you use accelerated depreciation for real property, or personal property that is leased to others, you may be liable for the alternative minimum tax. State 1040ez tax form Accelerated depreciation is any method, that allows recovery at a faster rate in the earlier years than the straight line method. State 1040ez tax form For more information, you may wish to see the following: Form 6251, Alternative Minimum Tax-Individuals, and Publication 542, Tax Information on Corporations. State 1040ez tax form Ordering publications and forms. State 1040ez tax form   To order free publications and forms, 1-800-TAX-FORM (1-800-829-3676). State 1040ez tax form You can also write to the IRS Forms Distribution Center nearest you. State 1040ez tax form Check your income tax package for the address. State 1040ez tax form   If you have access to a personal computer and a modem, you can also get many forms and publications electronically. State 1040ez tax form See How To Get Forms and Publications in your income tax package for details. State 1040ez tax form Telephone help. State 1040ez tax form   You can call the IRS with your tax question Monday through Friday during regular business hours. State 1040ez tax form Check your telephone book for the local number or you can call1-800-829-1040. State 1040ez tax form Telephone help for hearing-impaired persons. State 1040ez tax form   If you have access to TDD equipment, you can call 1-800-829-4059 with your tax question or to order forms and publications. State 1040ez tax form See your tax package for the hours of operation. State 1040ez tax form How To Use This Publication This publication describes the kinds of property that can be depreciated and the methods used to figure depreciation on property placed in service before 1987. State 1040ez tax form It is divided into three chapters and contains an appendix. State 1040ez tax form Chapter 1 explains the rules for depreciating property under the Accelerated Cost Recovery System (ACRS). State 1040ez tax form Chapter 2 explains the rules for depreciating property first used before 1981. State 1040ez tax form Chapter 3 explains the rules for listed property. State 1040ez tax form Also this chapter defines listed property. State 1040ez tax form The appendix contains the ACRS Percentage Tables. 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