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Taxact 2007 Delux Edition

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Taxact 2007 Delux Edition

Taxact 2007 delux edition Publication 509 - Main Content Table of Contents General Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter Fiscal-Year Taxpayers Employer's Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter Excise Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter How To Get Tax Help General Tax Calendar This tax calendar has the due dates for 2014 that most taxpayers will need. Taxact 2007 delux edition Employers and persons who pay excise taxes also should use the Employer's Tax Calendar and the Excise Tax Calendar . Taxact 2007 delux edition Fiscal-year taxpayers. Taxact 2007 delux edition   If you file your income tax return for a fiscal year rather than the calendar year, you must change some of the dates in this calendar. Taxact 2007 delux edition These changes are described under Fiscal-Year Taxpayers at the end of this calendar. Taxact 2007 delux edition First Quarter The first quarter of a calendar year is made up of January, February, and March. Taxact 2007 delux edition Second Quarter The second quarter of a calendar year is made up of April, May, and June. Taxact 2007 delux edition Third Quarter The third quarter of a calendar year is made up of July, August, and September. Taxact 2007 delux edition Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. Taxact 2007 delux edition Fiscal-Year Taxpayers If you use a fiscal year (rather than the calendar year) as your tax year, you should change some of the dates in this calendar. Taxact 2007 delux edition Use the following general guidelines to make these changes. Taxact 2007 delux edition The 3 months that make up each quarter of a fiscal year may be different from those of each calendar quarter, depending on when the fiscal year begins. Taxact 2007 delux edition Also see Saturday, Sunday, or legal holiday, earlier. Taxact 2007 delux edition Individuals Form 1040. Taxact 2007 delux edition    This form is due on the 15th day of the 4th month after the end of your tax year. Taxact 2007 delux edition Form 4868 is used to request an extension of time to file Form 1040. Taxact 2007 delux edition Estimated tax payments (Form 1040-ES). Taxact 2007 delux edition   Payments are due on the 15th day of the 4th, 6th, and 9th months of your tax year and on the 15th day of the 1st month after your tax year ends. Taxact 2007 delux edition Partnerships Form 1065. Taxact 2007 delux edition   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. Taxact 2007 delux edition Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1. Taxact 2007 delux edition Form 1065-B (electing large partnerships). Taxact 2007 delux edition   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. Taxact 2007 delux edition Provide each partner with a copy of Schedule K-1 (Form 1065-B) or a substitute Schedule K-1 by the first March 15 following the close of the partnership's tax year. Taxact 2007 delux edition Corporations and S Corporations Form 1120 and Form 1120S (or Form 7004). Taxact 2007 delux edition   These forms are due on the 15th day of the 3rd month after the end of the corporation's tax year. Taxact 2007 delux edition S corporations must provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1. Taxact 2007 delux edition Form 7004 is used to request an extension of time to file Form 1120 or Form 1120S. Taxact 2007 delux edition Estimated tax payments. Taxact 2007 delux edition   Payments are due on the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year. Taxact 2007 delux edition Form 2553. Taxact 2007 delux edition   This form is used to choose S corporation treatment. Taxact 2007 delux edition It is due no more than two months and 15 days after the beginning of the tax year the election is to take effect or at any time during the preceding tax year. Taxact 2007 delux edition Employer's Tax Calendar This tax calendar covers various due dates of interest to employers. Taxact 2007 delux edition Principally, it covers the following federal taxes. Taxact 2007 delux edition Income tax you withhold from your employees' wages or from nonpayroll amounts you pay out. Taxact 2007 delux edition Social security and Medicare taxes (FICA taxes) you withhold from your employees' wages and the social security and Medicare taxes you must pay as an employer. Taxact 2007 delux edition Federal unemployment (FUTA) tax you must pay as an employer. Taxact 2007 delux edition The calendar lists due dates for filing returns and for making deposits of these three taxes throughout the year. Taxact 2007 delux edition Use this calendar with Publication 15 (Circular E), which gives the deposit rules. Taxact 2007 delux edition Forms you may need. Taxact 2007 delux edition   The following is a list and description of the primary employment tax forms you may need. Taxact 2007 delux edition Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. Taxact 2007 delux edition This form is due the last day of the first calendar month after the calendar year ends. Taxact 2007 delux edition Use it to report the FUTA tax on wages you paid. Taxact 2007 delux edition Form 941, Employer's QUARTERLY Federal Tax Return. Taxact 2007 delux edition This form is due the last day of the first calendar month after the calendar quarter ends. Taxact 2007 delux edition Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are not farm workers or household employees. Taxact 2007 delux edition Form 943, Employer's Annual Federal Tax Return for Agricultural Employees. Taxact 2007 delux edition This form is due the last day of the first calendar month after the calendar year ends. Taxact 2007 delux edition Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are farm workers. Taxact 2007 delux edition Form 944, Employer's ANNUAL Federal Tax Return. Taxact 2007 delux edition This form is due the last day of the first calendar month after the calendar year ends. Taxact 2007 delux edition Certain small employers use it instead of Form 941 to report social security and Medicare taxes and withheld income tax. Taxact 2007 delux edition Form 945, Annual Return of Withheld Federal Income Tax. Taxact 2007 delux edition This form is due the last day of the first calendar month after the calendar year ends. Taxact 2007 delux edition Use it to report income tax withheld on all nonpayroll items. Taxact 2007 delux edition Nonpayroll items include the following. Taxact 2007 delux edition Backup withholding. Taxact 2007 delux edition Withholding on pensions, annuities, IRAs, and gambling winnings. Taxact 2007 delux edition Payments of Indian gaming profits to tribal members. Taxact 2007 delux edition Fiscal-year taxpayers. Taxact 2007 delux edition   The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. Taxact 2007 delux edition The only exception is the date for filing Forms 5500, Annual Return/Report of Employee Benefit Plan, and 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan. Taxact 2007 delux edition These employee benefit plan forms are due by the last day of the seventh month after the plan year ends. Taxact 2007 delux edition See July 31 , later. Taxact 2007 delux edition Extended due dates. Taxact 2007 delux edition   If you timely deposit in full the tax you are required to report on Form 940, 941, 943, 944, or 945, you have an additional 10 calendar days to file that form. Taxact 2007 delux edition If you are subject to the semiweekly deposit rule, use Table 2 near the end of this publication for your deposit due dates. Taxact 2007 delux edition However, if you accumulate $100,000 or more of taxes on any day during a deposit period, you must deposit the tax by the next business day instead of the date shown in Table 2. Taxact 2007 delux edition First Quarter The first quarter of a calendar year is made up of January, February, and March. Taxact 2007 delux edition Second Quarter The second quarter of a calendar year is made up of April, May, and June. Taxact 2007 delux edition Third Quarter The third quarter of a calendar year is made up of July, August, and September. Taxact 2007 delux edition Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. Taxact 2007 delux edition Excise Tax Calendar This tax calendar gives the due dates for filing returns and making deposits of excise taxes. Taxact 2007 delux edition Use this calendar with Publication 510. Taxact 2007 delux edition Also see the instructions for Forms 11-C, 720, 730, and 2290 for more information. Taxact 2007 delux edition References to Form 2290 also apply to Form 2290(SP). Taxact 2007 delux edition Forms you may need. Taxact 2007 delux edition   The following is a list and description of the excise tax forms you may need. Taxact 2007 delux edition Form 11-C, Occupational Tax and Registration Return for Wagering. Taxact 2007 delux edition Use this form to register any wagering activity and to pay an occupational tax on wagering. Taxact 2007 delux edition File Form 11-C if you are in the business of accepting wagers, including conducting a wagering pool or lottery, or are an agent of someone who accepts wagers. Taxact 2007 delux edition You must file the form before you begin accepting wagers. Taxact 2007 delux edition After that, file the form by July 1 of each year. Taxact 2007 delux edition Also, see Form 730, later. Taxact 2007 delux edition Form 720, Quarterly Federal Excise Tax Return. Taxact 2007 delux edition File this form by the last day of the month following the calendar quarter. Taxact 2007 delux edition Use this form to report a wide variety of excise taxes, including: Communications and air transportation taxes, Fuel taxes, Retail tax, Ship passenger tax, and Manufacturers taxes. Taxact 2007 delux edition Form 730, Monthly Tax Return for Wagers. Taxact 2007 delux edition Use this form to pay an excise tax on wagers you accept. Taxact 2007 delux edition File this form for each month by the last day of the following month. Taxact 2007 delux edition Also, see Form 11-C, earlier. Taxact 2007 delux edition Form 2290, Heavy Highway Vehicle Use Tax Return. Taxact 2007 delux edition Use this form to pay the federal use tax on heavy highway vehicles registered in your name. Taxact 2007 delux edition File this form by the last day of the month following the month of the vehicle's first taxable use in the tax period. Taxact 2007 delux edition The tax period begins on July 1 and ends the following June 30. Taxact 2007 delux edition You must pay the full year's tax on all vehicles you have in use during the month of July. Taxact 2007 delux edition You must also pay a partial-year tax on taxable vehicles that you put into use in a month after July. Taxact 2007 delux edition For more information, see the Instructions for Form 2290. Taxact 2007 delux edition Fiscal-year taxpayers. Taxact 2007 delux edition   The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. Taxact 2007 delux edition Adjustments for Saturday, Sunday, or legal holidays. Taxact 2007 delux edition   Generally, if a due date falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next day that is not a Saturday, Sunday, or legal holiday. Taxact 2007 delux edition For excise taxes, there are two exceptions to this rule. Taxact 2007 delux edition For deposits of regular method taxes, if the due date is a Saturday, Sunday, or legal holiday, the due date is the immediately preceding day that is not a Saturday, Sunday, or legal holiday. Taxact 2007 delux edition Under the special September deposit rules, if the due date falls on a Saturday, the deposit is due on the preceding Friday. Taxact 2007 delux edition If the due date falls on a Sunday, the deposit is due on the following Monday. Taxact 2007 delux edition For more information, see the Instructions for Form 720. Taxact 2007 delux edition The Excise Tax Calendar has been adjusted for all of these provisions. Taxact 2007 delux edition Regular method taxes. Taxact 2007 delux edition   These are taxes, other than alternative method taxes used for communication and air transportation taxes, reported on Form 720 for which deposits are required. Taxact 2007 delux edition First Quarter The first quarter of a calendar year is made up of January, February, and March. Taxact 2007 delux edition Second Quarter The second quarter of a calendar year is made up of April, May, and June. Taxact 2007 delux edition Third Quarter The third quarter of a calendar year is made up of July, August, and September. Taxact 2007 delux edition Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. Taxact 2007 delux edition How To Get Tax Help Go online, use a smart phone, call or walk in to an office near you. Taxact 2007 delux edition Whether it's help with a tax issue, preparing your tax return or picking up a free publication or form, get the help you need the way you want it. Taxact 2007 delux edition Free help with your tax return. Taxact 2007 delux edition   Free help in preparing your return is available nationwide from IRS-certified volunteers. Taxact 2007 delux edition The Volunteer Income Tax Assistance (VITA) program is designed to help low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers. Taxact 2007 delux edition The Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. Taxact 2007 delux edition Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Taxact 2007 delux edition Some VITA and TCE sites provide taxpayers the opportunity to prepare their return with the assistance of an IRS-certified volunteer. Taxact 2007 delux edition To find the nearest VITA or TCE site, visit IRS. Taxact 2007 delux edition gov or call 1-800-906-9887. Taxact 2007 delux edition   As part of the TCE program, AARP offers the Tax-Aide counseling program. Taxact 2007 delux edition To find the nearest AARP Tax-Aide site, visit AARP's website at www. Taxact 2007 delux edition aarp. Taxact 2007 delux edition org/money/taxaide or call 1-888-227-7669. Taxact 2007 delux edition   For more information on these programs, go to IRS. Taxact 2007 delux edition gov and enter “VITA” in the search box. Taxact 2007 delux edition Internet. Taxact 2007 delux edition IRS. Taxact 2007 delux edition gov and IRS2Go are ready when you are — every day, every night, 24 hours a day, 7 days a week. Taxact 2007 delux edition Apply for an Employer Identification Number (EIN). Taxact 2007 delux edition Go to IRS. Taxact 2007 delux edition gov and enter Apply for an EIN in the search box. Taxact 2007 delux edition Request an Electronic Filing PIN by going to IRS. Taxact 2007 delux edition gov and entering Electronic Filing PIN in the search box. Taxact 2007 delux edition Check the status of your 2013 refund with Where's My Refund? Go to IRS. Taxact 2007 delux edition gov or the IRS2Go app, and click on Where's My Refund? You'll get a personalized refund date as soon as the IRS processes your tax return and approves your refund. Taxact 2007 delux edition If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Taxact 2007 delux edition Checking the status of your amended return. Taxact 2007 delux edition Go to IRS. Taxact 2007 delux edition gov and enter Where's My Amended Return in the search box. Taxact 2007 delux edition Download forms, instructions, and publications, including some accessible versions. Taxact 2007 delux edition Order free transcripts of your tax returns or tax account using the Order a Transcript tool on IRS. Taxact 2007 delux edition gov or IRS2Go. Taxact 2007 delux edition Tax return and tax account transcripts are generally available for the current year and past three years. Taxact 2007 delux edition Figure your income tax withholding with the IRS Withholding Calculator on IRS. Taxact 2007 delux edition gov. Taxact 2007 delux edition Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Taxact 2007 delux edition Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Taxact 2007 delux edition gov. Taxact 2007 delux edition Locate the nearest Taxpayer Assistance Center using the Office Locator tool on IRS. Taxact 2007 delux edition gov or IRS2Go. Taxact 2007 delux edition Stop by most business days for face-to-face tax help, no appointment necessary — just walk in. Taxact 2007 delux edition An employee can explain IRS letters, request adjustments to your tax account or help you set up a payment plan. Taxact 2007 delux edition Before you visit, check the Office Locator for the address, phone number, hours of operation and the services provided. Taxact 2007 delux edition If you have an ongoing tax account problem or a special need, such as a disability, you can request an appointment. Taxact 2007 delux edition Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Taxact 2007 delux edition Locate the nearest volunteer help site with the VITA Locator Tool on IRS. Taxact 2007 delux edition gov. Taxact 2007 delux edition Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Taxact 2007 delux edition The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Taxact 2007 delux edition Most VITA and TCE sites offer free electronic filing and some provide IRS-certified volunteers who can help prepare your tax return. Taxact 2007 delux edition AARP offers the Tax-Aide counseling program as part of the TCE program. Taxact 2007 delux edition Visit AARP's website to find the nearest Tax-Aide location. Taxact 2007 delux edition Research your tax questions. Taxact 2007 delux edition Search publications and instructions by topic or keyword. Taxact 2007 delux edition Read the Internal Revenue Code, regulations, or other official guidance. Taxact 2007 delux edition Read Internal Revenue Bulletins. Taxact 2007 delux edition Sign up to receive local and national tax news by email. Taxact 2007 delux edition Phone. Taxact 2007 delux edition You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Taxact 2007 delux edition Download the free IRS2Go mobile app from the iTunes app store or from Google Play. Taxact 2007 delux edition Use it to watch the IRS YouTube channel, get IRS news as soon as it's released to the public, order transcripts of your tax returns or tax account, check your refund status, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Taxact 2007 delux edition Call to locate the nearest volunteer help site, 1-800-906-9887. Taxact 2007 delux edition Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Taxact 2007 delux edition The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Taxact 2007 delux edition Most VITA and TCE sites offer free electronic filing. Taxact 2007 delux edition Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Taxact 2007 delux edition Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Taxact 2007 delux edition Call to check the status of your 2013 refund, 1-800-829-1954 or 1-800-829-4477. Taxact 2007 delux edition The automated Where's My Refund? information is available 24 hours a day, 7 days a week. Taxact 2007 delux edition If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Taxact 2007 delux edition Before you call, have your 2013 tax return handy so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Taxact 2007 delux edition Where's My Refund? can give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Taxact 2007 delux edition Where's My Refund? includes information for the most recent return filed in the current year and does not include information about amended returns. Taxact 2007 delux edition Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Taxact 2007 delux edition Call to order forms, instructions and publications, 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions and publications, and prior-year forms and instructions (limited to 5 years). Taxact 2007 delux edition You should receive your order within 10 business days. Taxact 2007 delux edition Call to order transcripts of your tax returns or tax account, 1-800-908-9946. Taxact 2007 delux edition Follow the prompts to provide your Social Security Number or Individual Taxpayer Identification Number, date of birth, street address and ZIP code. Taxact 2007 delux edition Call for TeleTax topics, 1-800-829-4477, to listen to pre-recorded messages covering various tax topics. Taxact 2007 delux edition Call to ask tax questions, 1-800-829-1040. Taxact 2007 delux edition Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Taxact 2007 delux edition The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Taxact 2007 delux edition These individuals can also contact the IRS through relay services such as the Federal Relay Service available at www. Taxact 2007 delux edition gsa. Taxact 2007 delux edition gov/fedrelay. Taxact 2007 delux edition Walk-in. Taxact 2007 delux edition You can find a selection of forms, publications and services — in-person, face-to-face. Taxact 2007 delux edition Products. Taxact 2007 delux edition You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Taxact 2007 delux edition Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Taxact 2007 delux edition Services. Taxact 2007 delux edition You can walk in to your local TAC most business days for personal, face-to-face tax help. Taxact 2007 delux edition An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Taxact 2007 delux edition If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local TAC where you can talk with an IRS representative face-to-face. Taxact 2007 delux edition No appointment is necessary—just walk in. Taxact 2007 delux edition Before visiting, check www. Taxact 2007 delux edition irs. Taxact 2007 delux edition gov/localcontacts for hours of operation and services provided. Taxact 2007 delux edition Mail. Taxact 2007 delux edition You can send your order for forms, instructions, and publications to the address below. Taxact 2007 delux edition You should receive a response within 10 business days after your request is received. Taxact 2007 delux edition  Internal Revenue Service 1201 N. Taxact 2007 delux edition Mitsubishi Motorway Bloomington, IL 61705-6613 The Taxpayer Advocate Service Is Here to Help You. Taxact 2007 delux edition   The Taxpayer Advocate Service (TAS) is your voice at the IRS. Taxact 2007 delux edition Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Taxact 2007 delux edition What can TAS do for you?   We can offer you free help with IRS problems that you can't resolve on your own. Taxact 2007 delux edition We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Taxact 2007 delux edition You face (or your business is facing) an immediate threat of adverse action. Taxact 2007 delux edition You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Taxact 2007 delux edition   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Taxact 2007 delux edition Here's why we can help: TAS is an independent organization within the IRS. Taxact 2007 delux edition Our advocates know how to work with the IRS. Taxact 2007 delux edition Our services are free and tailored to meet your needs. Taxact 2007 delux edition We have offices in every state, the District of Columbia, and Puerto Rico. Taxact 2007 delux edition How can you reach us?   If you think TAS can help you, call your local advocate, whose number is in your local directory and at www. Taxact 2007 delux edition irs. Taxact 2007 delux edition gov/advocate, or call us toll-free at 1-877-777-4778. Taxact 2007 delux edition How else does TAS help taxpayers?   TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Taxact 2007 delux edition If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. Taxact 2007 delux edition irs. Taxact 2007 delux edition gov/sams. Taxact 2007 delux edition Low Income Taxpayer Clinics. Taxact 2007 delux edition   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals, and tax collection disputes. Taxact 2007 delux edition Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Taxact 2007 delux edition Visit www. Taxact 2007 delux edition TaxpayerAdvocate. Taxact 2007 delux edition irs. Taxact 2007 delux edition gov or see IRS Publication 4134, Low Income Taxpayer Clinic List. Taxact 2007 delux edition gnewbus01 Prev  Up  Next   Home   More Online Publications
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Taxpayer Identification Numbers (TIN)

A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) or by the IRS. A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS.
 

Taxpayer Identification Numbers

  • Social Security Number "SSN"
  • Employer Identification Number "EIN"
  • Individual Taxpayer Identification Number "ITIN"
  • Taxpayer Identification Number for Pending U.S. Adoptions "ATIN"
  • Preparer Taxpayer Identification Number "PTIN"
Note: The temporary IRS Numbers previously assigned are no longer valid.

Do I Need One?

A TIN must be furnished on returns, statements, and other tax related documents. For example a number must be furnished:

  • When filing your tax returns.
  • When claiming treaty benefits.

A TIN must be on a withholding certificate if the beneficial owner is claiming any of the following:

  • Tax treaty benefits (other than for income from marketable securities)
  • Exemption for effectively connected income
  • Exemption for certain annuities

When Claiming Exemptions for Dependent or Spouse:

You generally must list on your individual income tax return the social security number (SSN) of any person for whom you claim an exemption. If your dependent or spouse does not have and is not eligible to get an SSN, you must list the ITIN instead of an SSN. You do not need an SSN or ITIN for a child who was born and died in the same tax year. Instead of an SSN or ITIN, attach a copy of the child's birth certificate and write Died on the appropriate exemption line of your tax return.

How Do I Get A TIN?

SSN

You will need to complete Form SS-5, Application for a Social Security Card (PDF). You also must submit evidence of your identity, age, and U.S. citizenship or lawful alien status. For more information please see the Social Security web site.

Form SS-5 is also available by calling 1-800-772-1213 or visiting your local Social Security office. These services are free.

EIN

An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity. It is also used by estates and trusts which have income which is required to be reported on Form 1041, U.S. Income Tax Return for Estates and Trusts (PDF). Refer to Employer ID Numbers for more information.

The following form is available only to employers located in Puerto Rico, Solicitud de Número de Identificación Patronal (EIN) SS-4PR (PDF).

ITIN

An ITIN, or Individual Taxpayer Identification Number, is a tax processing number only available for certain nonresident and resident aliens, their spouses, and dependents who cannot get a Social Security Number (SSN). It is a 9-digit number, beginning with the number "9", formatted like an SSN (NNN-NN-NNNN).

To obtain an ITIN, you must complete IRS Form W-7, IRS Application for Individual Taxpayer Identification Number (PDF) . The Form W-7 requires documentation substantiating foreign/alien status and true identity for each individual. You may either mail the documentation, along with the Form W-7, to the address shown in the Form W-7 Instructions, present it at IRS walk-in offices, or process your application through an Acceptance Agent authorized by the IRS. Form W-7(SP), Solicitud de Número de Identificación Personal del Contribuyente del Servicio de Impuestos Internos (PDF) is available for use by Spanish speakers.

Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs. They review the applicant's documentation and forward the completed Form W-7 to IRS for processing.

NOTE: You cannot claim the earned income credit using an ITIN.

Foreign persons who are individuals should apply for a social security number (SSN, if permitted) on Form SS-5 with the Social Security Administration, or should apply for an Individual Taxpayer Identification Number (ITIN) on Form W-7. Effective immediately, each ITIN applicant must now:

  • Apply using the revised Form W-7, Application for IRS Individual Taxpayer Identification Number; and
  • Attach a federal income tax return to the Form W-7.

Applicants who meet one of the exceptions to the requirement to file a tax return (see the Instructions for Form W-7) must provide documentation to support the exception.

New W-7/ITIN rules were issued on December 17, 2003. For a summary of those rules, please see the new Form W-7 and its instructions.

For more detailed information on ITINs, refer to:

ATIN

An Adoption Taxpayer Identification Number (ATIN) is a temporary nine-digit number issued by the IRS to individuals who are in the process of legally adopting a U.S. citizen or resident child but who cannot get an SSN for that child in time to file their tax return.

Form W-7A, Application for Taxpayer Identification Number for Pending U.S. Adoptions (PDF) is used to apply for an ATIN. (NOTE: Do not use Form W-7A if the child is not a U.S. citizen or resident.)

PTIN

Beginning January 1, 2011, if you are a paid tax preparer you must use a valid Preparer Tax Identification Number (PTIN) on returns you prepare. Use of the PTIN no longer is optional. If you do not have a PTIN, you must get one by using the new IRS sign-up system. Even if you have a PTIN but you received it prior to September 28, 2010, you must apply for a new or renewed PTIN by using the new system. If all your authentication information matches, you may be issued the same number. You must have a PTIN if you, for compensation, prepare all or substantially all of any federal tax return or claim for refund.

If you do not want to apply for a PTIN online, use Form W-12, IRS Paid Preparer Tax Identification Number Application (PDF). The paper application will take 4-6 weeks to process.

If you are a foreign preparer who is unable to get a U.S. Social Security Number, please see the instructions on New Requirements for Tax Return Preparers: Frequently Asked Questions.

Foreign Persons and IRS Employer Identification Numbers

Foreign entities that are not individuals (i.e., foreign corporations, etc.) and that are required to have a federal Employer Identification Number (EIN) in order to claim an exemption from withholding because of a tax treaty (claimed on Form W-8BEN), need to submit Form SS-4 Application for Employer Identification Number to the Internal Revenue Service in order to apply for such an EIN. Those foreign entities filing Form SS-4 for the purpose of obtaining an EIN in order to claim a tax treaty exemption and which otherwise have no requirements to file a U.S. income tax return, employment tax return, or excise tax return, should comply with the following special instructions when filling out Form SS-4. When completing line 7b of Form SS-4, the applicant should write "N/A" in the block asking for an SSN or ITIN, unless the applicant already has an SSN or ITIN. When answering question 10 on Form SS-4, the applicant should check the "other" block and write or type in immediately after it one of the following phrases as most appropriate:

"For W-8BEN Purposes Only"
"For Tax Treaty Purposes Only"
"Required under Reg. 1.1441-1(e)(4)(viii)"
"897(i) Election"

If questions 11 through 17 on Form SS-4 do not apply to the applicant because he has no U.S. tax return filing requirement, such questions should be annotated "N/A". A foreign entity that completes Form SS-4 in the manner described above should be entered into IRS records as not having a filing requirement for any U.S. tax returns. However, if the foreign entity receives a letter from the IRS soliciting the filing of a U.S. tax return, the foreign entity should respond to the letter immediately by stating that it has no requirement to file any U.S. tax returns. Failure to respond to the IRS letter may result in a procedural assessment of tax by the IRS against the foreign entity. If the foreign entity later becomes liable to file a U.S. tax return, the foreign entity should not apply for a new EIN, but should instead use the EIN it was first issued on all U.S. tax returns filed thereafter.

To expedite the issuance of an EIN for a foreign entity, please call (267) 941-1099. This is not a toll-free call.

References/Related Topics

Page Last Reviewed or Updated: 17-Jan-2014

The Taxact 2007 Delux Edition

Taxact 2007 delux edition 7. Taxact 2007 delux edition   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. Taxact 2007 delux edition Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. Taxact 2007 delux edition Useful Items - You may want to see: Forms (and Instructions) 1040 U. Taxact 2007 delux edition S. Taxact 2007 delux edition Individual Income Tax Return 1040A U. Taxact 2007 delux edition S. Taxact 2007 delux edition Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. Taxact 2007 delux edition S. Taxact 2007 delux edition Nonresident Alien Income Tax Return 1040NR-EZ U. Taxact 2007 delux edition S. Taxact 2007 delux edition Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. Taxact 2007 delux edition 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. Taxact 2007 delux edition Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. Taxact 2007 delux edition 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). Taxact 2007 delux edition Under U. Taxact 2007 delux edition S. Taxact 2007 delux edition 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. Taxact 2007 delux edition Extensions of time to file. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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). Taxact 2007 delux edition Use Form 4868 to get the extension to October 15. Taxact 2007 delux edition 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). Taxact 2007 delux edition To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. Taxact 2007 delux edition 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. Taxact 2007 delux edition   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. Taxact 2007 delux edition S. Taxact 2007 delux edition citizens and resident aliens abroad who expect to qualify for special tax treatment). Taxact 2007 delux edition    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. Taxact 2007 delux edition You may be able to file your return electronically. Taxact 2007 delux edition See IRS e-file in your form instructions. Taxact 2007 delux edition Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. Taxact 2007 delux edition If you are any of the following, you must file a return. Taxact 2007 delux edition A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. Taxact 2007 delux edition (But see Exceptions , later. Taxact 2007 delux edition ) 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. Taxact 2007 delux edition S. Taxact 2007 delux edition sources, or Your income is exempt from income tax. Taxact 2007 delux edition A nonresident alien individual not engaged in a trade or business in the United States with U. Taxact 2007 delux edition S. Taxact 2007 delux edition income on which the tax liability was not satisfied by the withholding of tax at the source. Taxact 2007 delux edition A representative or agent responsible for filing the return of an individual described in (1) or (2). Taxact 2007 delux edition A fiduciary for a nonresident alien estate or trust. Taxact 2007 delux edition 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. Taxact 2007 delux edition For example, if you have no U. Taxact 2007 delux edition S. Taxact 2007 delux edition 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. Taxact 2007 delux edition For information on what is timely, see When to file for deductions and credits under When To File, later. Taxact 2007 delux edition Exceptions. Taxact 2007 delux edition   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. Taxact 2007 delux edition Your only U. Taxact 2007 delux edition S. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition Even if you have left the United States and filed a Form 1040-C, U. Taxact 2007 delux edition S. Taxact 2007 delux edition Departing Alien Income Tax Return, on departure, you still must file an annual U. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax return. Taxact 2007 delux edition If you are married and both you and your spouse are required to file, you must each file a separate return. Taxact 2007 delux edition Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. Taxact 2007 delux edition You do not claim any dependents. Taxact 2007 delux edition You cannot be claimed as a dependent on someone else's U. Taxact 2007 delux edition S. Taxact 2007 delux edition tax return. Taxact 2007 delux edition If you were married, you do not claim an exemption for your spouse. Taxact 2007 delux edition Your taxable income is less than $100,000. Taxact 2007 delux edition The only itemized deduction you can claim is for state and local income taxes. Taxact 2007 delux edition Note. Taxact 2007 delux edition 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. Taxact 2007 delux edition See chapter 5. Taxact 2007 delux edition Your only U. Taxact 2007 delux edition S. Taxact 2007 delux edition source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. Taxact 2007 delux edition (If you had taxable interest or dividend income, you cannot use this form. Taxact 2007 delux edition ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. Taxact 2007 delux edition You are not claiming any tax credits. Taxact 2007 delux edition This is not an “expatriation return. Taxact 2007 delux edition ” See Expatriation Tax in chapter 4. Taxact 2007 delux edition The only taxes you owe are: The income tax from the Tax Table. Taxact 2007 delux edition The social security and Medicare tax from Form 4137 or Form 8919. Taxact 2007 delux edition You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. Taxact 2007 delux edition 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. Taxact 2007 delux edition If you do not meet all of the above conditions, you must file Form 1040NR. Taxact 2007 delux edition When To File If you are an employee and you receive wages subject to U. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. Taxact 2007 delux edition For the 2013 calendar year, file your return by April 15, 2014. Taxact 2007 delux edition If you are not an employee who receives wages subject to U. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. Taxact 2007 delux edition For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. Taxact 2007 delux edition ) Extensions of time to file. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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). Taxact 2007 delux edition You must file the extension by the regular due date of your return. Taxact 2007 delux edition   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). Taxact 2007 delux edition To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. Taxact 2007 delux edition 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. Taxact 2007 delux edition When to file for deductions and credits. Taxact 2007 delux edition   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. Taxact 2007 delux edition For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. Taxact 2007 delux edition 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. Taxact 2007 delux edition The allowance of the following credits is not affected by this time requirement. Taxact 2007 delux edition Credit for withheld taxes. Taxact 2007 delux edition Credit for excise tax on certain uses of gasoline and special fuels. Taxact 2007 delux edition 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. Taxact 2007 delux edition Protective return. Taxact 2007 delux edition   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. Taxact 2007 delux edition S. Taxact 2007 delux edition trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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. Taxact 2007 delux edition   You can follow the same procedure if you believe you have no U. Taxact 2007 delux edition S. Taxact 2007 delux edition tax liability because of a U. Taxact 2007 delux edition S. Taxact 2007 delux edition tax treaty. Taxact 2007 delux edition Be sure to also complete item L on page 5 of Form 1040NR. Taxact 2007 delux edition Waiver of filing deadline. Taxact 2007 delux edition   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. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax return (including a protective return) and you cooperate with the IRS in determining your U. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax liability for the tax year for which you did not file a return. Taxact 2007 delux edition Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. Taxact 2007 delux edition  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. Taxact 2007 delux edition O. Taxact 2007 delux edition Box 1303 Charlotte, NC 28201-1303 Aliens from the U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islands. Taxact 2007 delux edition    If you are a bona fide resident of the U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islands and file your income tax returns at the following address. Taxact 2007 delux edition Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. Taxact 2007 delux edition Thomas, VI 00802   Report all income from U. Taxact 2007 delux edition S. Taxact 2007 delux edition sources, as well as income from other sources, on your return. Taxact 2007 delux edition For information on filing U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islands returns, contact the U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islands Bureau of Internal Revenue. Taxact 2007 delux edition   Chapter 8 discusses withholding from U. Taxact 2007 delux edition S. Taxact 2007 delux edition wages of U. Taxact 2007 delux edition S. Taxact 2007 delux edition Virgin Islanders. Taxact 2007 delux edition Aliens from Guam or the Commonwealth of the Northern Mariana Islands. Taxact 2007 delux edition   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. Taxact 2007 delux edition Report all income, including income from U. Taxact 2007 delux edition S. Taxact 2007 delux edition sources, on your return. Taxact 2007 delux edition It is not necessary to file a separate U. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax return. Taxact 2007 delux edition    Bona fide residents of Guam should file their Guam returns at the following address. Taxact 2007 delux edition   Department of Revenue and Taxation Government of Guam P. Taxact 2007 delux edition O. Taxact 2007 delux edition Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. Taxact 2007 delux edition   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. Taxact 2007 delux edition O. Taxact 2007 delux edition Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. Taxact 2007 delux edition 570, Tax Guide for Individuals With Income From U. Taxact 2007 delux edition S. Taxact 2007 delux edition Possessions, for information on where to file your return. Taxact 2007 delux edition 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. Taxact 2007 delux edition S. Taxact 2007 delux edition Individual Income Tax Return. Taxact 2007 delux edition Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. Taxact 2007 delux edition If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. Taxact 2007 delux edition ) to Form 1040X. Taxact 2007 delux edition Print “Amended” across the top. Taxact 2007 delux edition 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. Taxact 2007 delux edition A return filed before the final due date is considered to have been filed on the due date. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition Filing requirements. Taxact 2007 delux edition   FinCEN Form 105 filing requirements follow. Taxact 2007 delux edition Recipients. Taxact 2007 delux edition   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. Taxact 2007 delux edition Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. Taxact 2007 delux edition   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. Taxact 2007 delux edition Travelers. Taxact 2007 delux edition   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. Taxact 2007 delux edition Penalties. Taxact 2007 delux edition   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. Taxact 2007 delux edition Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. Taxact 2007 delux edition More information. Taxact 2007 delux edition   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. Taxact 2007 delux edition 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. Taxact 2007 delux edition A resident alien of the United States for any part of the tax year. Taxact 2007 delux edition 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. Taxact 2007 delux edition S. Taxact 2007 delux edition income tax treaty. Taxact 2007 delux edition See Effect of Tax Treaties in chapter 1. Taxact 2007 delux edition A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. Taxact 2007 delux edition See chapter 1 for information about this election. Taxact 2007 delux edition A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. Taxact 2007 delux edition See Publication 570, Tax Guide for Individuals With Income From U. Taxact 2007 delux edition S. Taxact 2007 delux edition Possessions, for a definition of bona fide resident. Taxact 2007 delux edition You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition S. Taxact 2007 delux edition person. Taxact 2007 delux edition 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. Taxact 2007 delux edition More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. Taxact 2007 delux edition Penalties The law provides penalties for failure to file returns or pay taxes as required. Taxact 2007 delux edition Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. Taxact 2007 delux edition 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. Taxact 2007 delux edition If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. Taxact 2007 delux edition Filing late. Taxact 2007 delux edition   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. Taxact 2007 delux edition The penalty is based on the tax not paid by the due date (without regard to extensions). Taxact 2007 delux edition The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. Taxact 2007 delux edition Fraud. Taxact 2007 delux edition   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%. Taxact 2007 delux edition Return over 60 days late. Taxact 2007 delux edition   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. Taxact 2007 delux edition Exception. Taxact 2007 delux edition   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. Taxact 2007 delux edition Paying tax late. Taxact 2007 delux edition   You will have to pay a failure-to-pay penalty of ½ of 1% (. Taxact 2007 delux edition 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. Taxact 2007 delux edition 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. Taxact 2007 delux edition   The monthly rate of the failure-to-pay penalty is half the usual rate (. Taxact 2007 delux edition 25% instead of . Taxact 2007 delux edition 50%) if an installment agreement is in effect for that month. Taxact 2007 delux edition You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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. Taxact 2007 delux edition   This penalty cannot be more than 25% of your unpaid tax. Taxact 2007 delux edition 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. Taxact 2007 delux edition Combined penalties. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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. Taxact 2007 delux edition Accuracy-related penalty. Taxact 2007 delux edition   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. Taxact 2007 delux edition The penalty is equal to 20% of the underpayment. Taxact 2007 delux edition 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. Taxact 2007 delux edition The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. Taxact 2007 delux edition Negligence or disregard. Taxact 2007 delux edition   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. Taxact 2007 delux edition Negligence also includes failure to keep adequate books and records. Taxact 2007 delux edition You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. Taxact 2007 delux edition   The term “disregard” includes any careless, reckless, or intentional disregard. Taxact 2007 delux edition Adequate disclosure. Taxact 2007 delux edition   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. Taxact 2007 delux edition See Disclosure statement , later. Taxact 2007 delux edition   This exception will not apply to an item that is attributable to a tax shelter. Taxact 2007 delux edition In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. Taxact 2007 delux edition Substantial understatement of income tax. Taxact 2007 delux edition   You understate your tax if the tax shown on your return is less than the correct tax. Taxact 2007 delux edition The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. Taxact 2007 delux edition 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. Taxact 2007 delux edition   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. Taxact 2007 delux edition 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. Taxact 2007 delux edition Substantial authority. Taxact 2007 delux edition   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. Taxact 2007 delux edition 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. Taxact 2007 delux edition Disclosure statement. Taxact 2007 delux edition   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. Taxact 2007 delux edition You must also have a reasonable basis for treating the item the way you did. Taxact 2007 delux edition   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. Taxact 2007 delux edition   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. Taxact 2007 delux edition Transaction lacking economic substance. Taxact 2007 delux edition   For more information on economic substance, see section 7701(o). Taxact 2007 delux edition Foreign financial asset. Taxact 2007 delux edition   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. Taxact 2007 delux edition Reasonable cause. Taxact 2007 delux edition   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. Taxact 2007 delux edition You must also show that you acted in good faith. Taxact 2007 delux edition This does not apply to a transaction that lacks economic substance. Taxact 2007 delux edition Filing erroneous claim for refund or credit. Taxact 2007 delux edition   You may have to pay a penalty if you file an erroneous claim for refund or credit. Taxact 2007 delux edition 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. Taxact 2007 delux edition However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. Taxact 2007 delux edition 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. Taxact 2007 delux edition Frivolous tax submission. Taxact 2007 delux edition   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. Taxact 2007 delux edition 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. Taxact 2007 delux edition 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. Taxact 2007 delux edition irs. Taxact 2007 delux edition gov/irb/2010-17_irb/ar13. Taxact 2007 delux edition html. Taxact 2007 delux edition   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. Taxact 2007 delux edition This includes altering or striking out the preprinted language above the space provided for your signature. Taxact 2007 delux edition   This penalty is added to any other penalty provided by law. Taxact 2007 delux edition Fraud. Taxact 2007 delux edition   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. Taxact 2007 delux edition Failure to supply taxpayer identification number. Taxact 2007 delux edition   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. Taxact 2007 delux edition 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. Taxact 2007 delux edition   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. Taxact 2007 delux edition The number must be shown on the Form 1099-INT or other statement the bank sends you. Taxact 2007 delux edition If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. Taxact 2007 delux edition (You also may be subject to “backup” withholding of income tax. Taxact 2007 delux edition )   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. Taxact 2007 delux edition 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. Taxact 2007 delux edition Prev  Up  Next   Home   More Online Publications