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W2 Book For 1040ez

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W2 Book For 1040ez

W2 book for 1040ez Index A Acontecimientos futuros, Acontecimientos futuros Administración del Seguro Social (SSA) Ayuda para radicar documentos ante la SSA , Ayuda para radicar documentos ante la SSA. W2 book for 1040ez Ajustes a los Formularios 941-PR, 944(SP) o 943-PR Ajustes del período en curso, Ajustes del período en curso. W2 book for 1040ez Ajustes de períodos anteriores a los Formularios 941-PR, 944(SP) o 943-PR, Ajustes de períodos anteriores Cambio en el proceso para hacer ajustes libres de intereses, Antecedentes. W2 book for 1040ez Excepciones a las correcciones de las contribuciones sobre la nómina libres de intereses , Excepciones a las correcciones de las contribuciones sobre la nómina libres de intereses. W2 book for 1040ez Planillas para ajustes en períodos anteriores, Planillas para ajustes en períodos anteriores. W2 book for 1040ez Proceso para hacer ajustes a las contribuciones sobre la nómina, Proceso para hacer ajustes a las contribuciones sobre la nómina. W2 book for 1040ez Recaudando las contribuciones retenidas de menos de los empleados, Recaudando las contribuciones retenidas de menos de los empleados. W2 book for 1040ez Reintegro de cantidades incorrectamente retenidas de los empleados, Reintegro de cantidades incorrectamente retenidas de los empleados. W2 book for 1040ez Ayuda contributiva, Cómo obtener ayuda relacionada con las contribuciones Ayuda provista por el IRS , Ayuda provista por el IRS. W2 book for 1040ez Ayuda relacionada con las contribuciones, Ayuda relacionada con las contribuciones. W2 book for 1040ez B Beneficios marginales, Retención y declaración de la contribución sobre beneficios marginales proporcionados a los empleados Cuándo se tratan los beneficios marginales como pagados al empleado, Cuándo se tratan los beneficios marginales como pagados al empleado. W2 book for 1040ez Depósito de la contribución sobre los beneficios marginales, Depósito de la contribución sobre los beneficios marginales. W2 book for 1040ez Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre, Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre. W2 book for 1040ez Retención de las contribuciones al Seguro Social y al seguro Medicare sobre los beneficios marginales, Retención de las contribuciones al Seguro Social y al seguro Medicare sobre los beneficios marginales. W2 book for 1040ez Valorización de vehículos proporcionados a los empleados, Valorización de vehículos proporcionados a los empleados. W2 book for 1040ez C Cálculo de las contribuciones al Seguro Social, al seguro Medicare y al FUTA , 9. W2 book for 1040ez Cálculo de las contribuciones al Seguro Social, al seguro Medicare y al FUTA Compensación por enfermedad, Pagos de compensación por enfermedad. W2 book for 1040ez Contribución Adicional al Medicare , Retención de la Contribución Adicional al Medicare. W2 book for 1040ez Contribuciones al Seguro Social y al Medicare , Contribuciones al Seguro Social y al Medicare. W2 book for 1040ez Contribuciones pagadas por el patrono, Contribución pagada por el patrono correspondiente al empleado. W2 book for 1040ez Deducción de la contribución, Deducción de la contribución. W2 book for 1040ez Patronos domésticos y agrícolas, Patronos domésticos y agrícolas. W2 book for 1040ez Calendario, Calendario Formulario 499R-2/W-2PR, Calendario Formulario 940-PR, Calendario Formulario 943-PR, Calendario Formulario 944(SP), Calendario Formulario 944-PR, Calendario Para el 28 de febrero, Calendario Para el 30 de abril, Calendario Para el 31 de enero, Calendario Para el 31 de julio, Calendario Para el 31 de marzo, Calendario Para el 31 de octubre, Calendario Clasificación errónea de empleados, Clasificación errónea de empleados. W2 book for 1040ez COBRA Crédito de asistencia para las primas COBRA , Recordatorios, Crédito de asistencia para las primas de COBRA. W2 book for 1040ez Comentarios y sugerencias, Recordatorios Compañías subsidarias calificadas conforme al subcapítulo S QSubs, Entidades no consideradas como separadas de sus dueños y compañías subsidarias calificadas conforme al subcapítulo S (QSubs). W2 book for 1040ez Compensación por enfermedad, Compensación por enfermedad Patronos Compensación por enfermedad procedentes de una compañía de seguros o de algún otro tercero pagador, Patronos. W2 book for 1040ez Terceros pagadores, Terceros pagadores. W2 book for 1040ez Contratación de nuevos empleados, Recordatorios Contratistas independientes, Contratistas independientes. W2 book for 1040ez Contribución Adicional al Medicare Retención de la Contribución Adicional al Medicare , Recordatorios Contribución Adicional al Medicare, ajustes a la retención, Ajustes a la retención de la Contribución Adicional al Medicare. W2 book for 1040ez Contribución al Seguro Social y al seguro Medicare por trabajo agrícola, 7. W2 book for 1040ez Contribución al Seguro Social y al seguro Medicare por trabajo agrícola El requisito de los $150 o $2,500, El requisito de los $150 o $2,500. W2 book for 1040ez Excepciones al requisito de los $150 o $2,500, Excepciones. W2 book for 1040ez Contribución al Seguro Social y al seguro Medicare por trabajo doméstico, 8. W2 book for 1040ez Contribución al Seguro Social y al seguro Medicare por trabajo doméstico Contribución FUTA , Contribución federal para el desempleo (contribución FUTA). W2 book for 1040ez Contribución sobre los ingresos de Puerto Rico, Contribuciones sobre los ingresos de Puerto Rico. W2 book for 1040ez Contribuciones al Seguro Social y al Medicare para 2014, Contribuciones al Seguro Social y al Medicare para 2014. W2 book for 1040ez Crédito contributivo por oportunidad de trabajo, Recordatorios D Defensor del Contribuyente, Servicio del Defensor del Contribuyente. W2 book for 1040ez Depósito de las contribuciones al Seguro Social y al seguro  Medicare, requisitos de Ajustes a las contribuciones del período retroactivo , Ajustes a las contribuciones del período retroactivo. W2 book for 1040ez Aplicación de los itinerarios mensuales y bisemanales, Aplicación de los itinerarios mensuales y bisemanales. W2 book for 1040ez Cuándo se tienen que hacer los depósitos, Cuándo se tienen que hacer los depósitos. W2 book for 1040ez Depósitos en días laborables solamente, Depósitos en días laborables solamente. W2 book for 1040ez Depósitos, cuándo se hacen, 11. W2 book for 1040ez Depósito de las contribuciones al Seguro Social y al seguro  Medicare Días feriados oficiales, Días feriados oficiales. W2 book for 1040ez Ejemplo de itinerario bisemanal, Ejemplo de itinerario bisemanal. W2 book for 1040ez Ejemplo de itinerario mensual, Ejemplo de itinerario mensual. W2 book for 1040ez Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados agrícolas, Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados agrícolas. W2 book for 1040ez Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados no agrícolas, Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados no agrícolas. W2 book for 1040ez Fecha compensatoria para una cantidad depositada de menos, Fecha compensatoria para una cantidad depositada de menos: Formularios 941-X (PR), 944-X (PR), 944-X (SP), 943-X (PR), Ajustes a las contribuciones del período retroactivo. W2 book for 1040ez Patronos de empleados agrícolas nuevos, Patronos de empleados agrícolas nuevos. W2 book for 1040ez Patronos nuevos, Patronos nuevos. W2 book for 1040ez Patronos que tienen empleados tanto agrícolas como no agrícolas, Patronos que tienen empleados tanto agrícolas como no agrícolas. W2 book for 1040ez Período de depósito, Período de depósito. W2 book for 1040ez Período de depósito de itinerario bisemanal que abarca 2 trimestres, Período de depósito de itinerario bisemanal que abarca 2 trimestres. W2 book for 1040ez Período retroactivo para patronos de empleados agrícolas, Período retroactivo para patronos de empleados agrícolas. W2 book for 1040ez Período retroactivo para patronos de empleados no agrícolas, Período retroactivo para patronos de empleados no agrícolas. W2 book for 1040ez Regla de depositar $100,000 el próximo día, Regla de depositar $100,000 el próximo día. W2 book for 1040ez Regla de depósito de itinerario mensual, Regla de depósito de itinerario mensual. W2 book for 1040ez Regla de la exactitud de los depósitos, Regla de la exactitud de los depósitos. W2 book for 1040ez Reglas para los depositantes de itinerario bisemanal, Reglas para los depositantes de itinerario bisemanal. W2 book for 1040ez Requisito de los $2,500, Requisito de los $2,500. W2 book for 1040ez Depósito electrónico Contribución federal, Recordatorios Depósitos de la contribución al Seguro Social y al seguro  Medicare, cómo se hacen, Cómo hacer los depósitos Cuando usted recibe su EIN , Cuando usted recibe su EIN. W2 book for 1040ez Depósitos hechos a tiempo, Depósitos hechos a tiempo. W2 book for 1040ez Opción de pago el mismo día, Opción de pago el mismo día. W2 book for 1040ez Reclamación de créditos por pagos en exceso, Reclamación de créditos por pagos en exceso. W2 book for 1040ez Registro de depósitos, Registro de depósitos. W2 book for 1040ez Requisito de depósito electrónico, Requisito de depósito electrónico. W2 book for 1040ez Dirección Cambio de dirección, Recordatorios Discrepancias entre los Formularios 941-PR or 944-PR y los Formularios 499R-2/W-2PR, Recordatorios E Elegibilidad para empleo, Elegibilidad para empleo. W2 book for 1040ez Empleado Definición, 2. W2 book for 1040ez ¿Quiénes son empleados? Estatutarios, Empleados estatutarios. W2 book for 1040ez Según el derecho común, Definición de empleado según el derecho común. W2 book for 1040ez Empleado doméstico Requisito de $1,900, Requisito de $1,900. W2 book for 1040ez Empleados Clasificación errónea de empleados, Clasificación errónea de empleados. W2 book for 1040ez Empleados arrendados, Empleados arrendados. W2 book for 1040ez Entidades no consideradas como separadas de sus dueños, Entidades no consideradas como separadas de sus dueños y compañías subsidarias calificadas conforme al subcapítulo S (QSubs). W2 book for 1040ez Exención, disposiciones de, Disposiciones de exención. W2 book for 1040ez Especialista en servicios técnicos, Especialista en servicios técnicos. W2 book for 1040ez F Formulario 499R-2/W-2PR, 13. W2 book for 1040ez Los Formularios 499R-2/W-2PR y W-3PR SS-5-SP, Recordatorios, Tarjeta de Seguro Social del empleado. W2 book for 1040ez SS-8PR, Ayuda provista por el IRS. W2 book for 1040ez W-3PR, 13. W2 book for 1040ez Los Formularios 499R-2/W-2PR y W-3PR Formulario 944-PR descontinuado, Recordatorios Fotografías de niños desaparecidos, Recordatorios FUTA Ley Federal de Contribución para el Desempleo (FUTA). W2 book for 1040ez , Ley Federal de Contribución para el Desempleo (FUTA). W2 book for 1040ez Reducción en el crédito contra la contribución FUTA , Estados o territorios con reducción en el crédito. W2 book for 1040ez G Gastos de viaje y de representación, Gastos de viaje y de representación. W2 book for 1040ez I Individuos que no son empleados estatutarios, Individuos que no son empleados estatutarios. W2 book for 1040ez Agentes de bienes inmuebles autorizados, Agentes de bienes inmuebles autorizados. W2 book for 1040ez Personas a quienes se les paga por acompañar y posiblemente cuidar a otras, Personas a quienes se les paga por acompañar y posiblemente cuidar a otras. W2 book for 1040ez Vendedores directos, Vendedores directos. W2 book for 1040ez Introducción, Introduction L Líder de cuadrilla agrícola, Líder de cuadrilla agrícola. W2 book for 1040ez Los Formularios 499R-2/W-2PR y W-3PR, 13. W2 book for 1040ez Los Formularios 499R-2/W-2PR y W-3PR Problemas con la radicación electrónica, Problemas con la radicación electrónica. W2 book for 1040ez Radicación de Formularios 499R-2/W-2PR ante el Departamento de Hacienda, Radicación de Formularios 499R-2/W-2PR ante el Departamento de Hacienda. W2 book for 1040ez Solicitud de exención de radicación de declaraciones informativas por medios electrónicos, Solicitud de exención de radicación de declaraciones informativas por medios electrónicos. W2 book for 1040ez M Mantenimiento de récords, Recordatorios Matrimonio Matrimonio entre personas del mismo sexo. W2 book for 1040ez , Qué hay de nuevo Medicare Retención de la Contribución Adicional al Medicare , Retención de la Contribución Adicional al Medicare. W2 book for 1040ez Medios electrónicos, pago y radicación por, Recordatorios Multas relacionadas con los depósitos de la contribución al Seguro Social y al seguro  Medicare , Multas relacionadas con los depósitos. W2 book for 1040ez Agentes de reportación, Agentes de reportación. W2 book for 1040ez Multa por recuperación del fondo fiduciario, Multa por recuperación del fondo fiduciario. W2 book for 1040ez Multa promediada por no depositar, Multa promediada por no depositar. W2 book for 1040ez Orden en que se aplican los depósitos, Orden en que se aplican los depósitos. W2 book for 1040ez Regla especial para los que radicaron el Formulario 944(SP) anteriormente, Regla especial para los que radicaron el Formulario 944(SP) anteriormente. W2 book for 1040ez N Negocio perteneciente y administrado por cónyuges, Negocio que pertenece y es administrado por los cónyuges Excepción: Negocio en participación calificado, Excepción: Negocio en participación calificado. W2 book for 1040ez Nómina Externalización de las obligaciones de la nómina, Recordatorios Outsourcing payroll duties , Recordatorios Número de identificación de contribuyente individual (ITIN), Número de identificación personal del contribuyente (ITIN) del IRS para extranjeros. W2 book for 1040ez Número de identificación patronal (EIN), 3. W2 book for 1040ez Número de identificación patronal (EIN) Número de identificación patronal en linea (EIN), solicitud de un, Recordatorios Número de Seguro Social Dónde se obtienen los formularios , Dónde se obtienen los formularios para solicitar un Número de Seguro Social. W2 book for 1040ez Número de Seguro Social (SSN) , 4. W2 book for 1040ez Número de Seguro Social (SSN), Tarjeta de Seguro Social del empleado. W2 book for 1040ez Escriba correctamente el nombre y número de Seguro Social del empleado, Escriba correctamente el nombre y número de Seguro Social del empleado. W2 book for 1040ez Tarjeta de Seguro Social del empleado, Tarjeta de Seguro Social del empleado. W2 book for 1040ez Verificación de los números de Seguro Social, Verificación de los números de Seguro Social. W2 book for 1040ez P Pago por medios electrónicos, Recordatorios Pagos con tarjeta de crédito o débito, Recordatorios Pagos que no se consideran salarios Empleado doméstico, Pagos que no se consideran salarios. W2 book for 1040ez Transportación (beneficios de transporte), Transportación (beneficios de transporte). W2 book for 1040ez Pagos rechazados, Recordatorios Pagos y depósitos de la contribución FUTA , 10. W2 book for 1040ez Pagos y depósitos de la contribución federal para el desempleo (la contribución FUTA) Depósitos, Depósitos. W2 book for 1040ez Empleados domésticos, Empleados domésticos. W2 book for 1040ez Formulario 940-PR, Formulario 940-PR. W2 book for 1040ez Tasa de la contribución, Tasa de la contribución FUTA. W2 book for 1040ez Trabajadores agrícolas, Trabajadores agrícolas. W2 book for 1040ez Parte responsable Cambio de parte responsable, Qué hay de nuevo Patrono, definición, 1. W2 book for 1040ez ¿Quién es patrono? Planillas para patronos Formulario 944(SP), Formulario 944(SP). W2 book for 1040ez Multas por no radicar y por no pagar, Multas o penalidades. W2 book for 1040ez Patrono sucesor, Patrono sucesor. W2 book for 1040ez Patrono sucesor, crédito especial, Crédito especial para un patrono sucesor. W2 book for 1040ez Patronos de empleados domésticos que declaran las contribuciones al Seguro Social y al Medicare , Patronos de empleados domésticos que declaran las contribuciones al Seguro Social y al Medicare. W2 book for 1040ez Patronos de trabajadores agrícolas, Patronos de trabajadores agrícolas. W2 book for 1040ez Patronos que no son patronos agrícolas, Patronos que no son patronos agrícolas. W2 book for 1040ez Planilla anual y pago de la contribución federal para el desempleo (contribución  FUTA), Planilla anual y pago de la contribución federal para el desempleo (contribución FUTA). W2 book for 1040ez Programa de acuerdo voluntario para la clasificación de trabajadores (VCSP), Programa para el acuerdo de clasificación voluntaria de trabajadores (VCSP, por sus siglas en inglés). W2 book for 1040ez Propinas, 6. W2 book for 1040ez Propinas Formulario 4070-PR, 6. W2 book for 1040ez Propinas Formulario 4070A-PR, 6. W2 book for 1040ez Propinas Informe de propinas, Informe de propinas. W2 book for 1040ez Recaudación de las contribuciones sobre las propinas, Recaudación de las contribuciones sobre las propinas. W2 book for 1040ez Regla de disposición, Regla de disposición. W2 book for 1040ez Q Qué hay de nuevo Contribuciones al Medicare para 2014, Qué hay de nuevo Contribuciones al Seguro Social para 2014, Qué hay de nuevo R Radicación por medios electrónicos, Recordatorios Radicar el Formulario 944(SP) en vez del Formulario 941-PR, Recordatorios Recordatorios, Recordatorios Récords, Recordatorios Reglas especiales para varias clases de servicios y de pagos, 15. W2 book for 1040ez Reglas especiales para varias clases de servicios y de pagos Retención de la contribución federal sobre ingresos, 14. W2 book for 1040ez Retención de la contribución federal sobre ingresos S Salarios sujetos a la contribución Compensaciones sujetos a la contribución, 5. W2 book for 1040ez Salarios y otra compensación Servicio del Defensor del Contribuyente, Servicio del Defensor del Contribuyente. W2 book for 1040ez Servicios de entrega privados, Recordatorios T Tarjetas de crédito o débito, pagos con, Recordatorios TAS , Servicio del Defensor del Contribuyente. W2 book for 1040ez Trabajo doméstico, Trabajo doméstico. W2 book for 1040ez V Veteranos calificados, contratación, Recordatorios Visa H-2A, Trabajadores agrícolas. W2 book for 1040ez Remuneración pagada a trabajadores agrícolas con visa H-2A, Recordatorios Prev  Up     Home   More Online Publications
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Understanding Your CP284 Notice

We approved your Form 1128, Application to Adopt, Change, or Retain a Tax Year.


What you need to do

  • Timely file a short period annual return for the tax year ending that is shown on Form 1128.
  • Keep this notice for your records.

You may want to

Call 1-800-829-3676 (1-800-TAX-FORM) to order forms and publications or visit our website, www.irs.gov, to download them.


Answers to Common Questions

What is Form 1128?
When approved, this form allows a taxpayer to change the date on which they close their tax year. Partnerships, S corporations, personal service corporations (PSCs), or trusts may be required to file the form to adopt or retain a certain tax year.


Understanding your notice

Your notice may look different from the sample because the information contained in your notice is tailored to your situation.

Notice CP284, Page 1

Page Last Reviewed or Updated: 09-Dec-2013

Printable samples of this notice (PDF)

 

 

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The W2 Book For 1040ez

W2 book for 1040ez 2. W2 book for 1040ez   Tax Shelters and Other Reportable Transactions Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Abusive Tax SheltersRules To Curb Abusive Tax Shelters Investor Reporting Penalties Whether To Invest Introduction Investments that yield tax benefits are sometimes called “tax shelters. W2 book for 1040ez ” In some cases, Congress has concluded that the loss of revenue is an acceptable side effect of special tax provisions designed to encourage taxpayers to make certain types of investments. W2 book for 1040ez In many cases, however, losses from tax shelters produce little or no benefit to society, or the tax benefits are exaggerated beyond those intended. W2 book for 1040ez Those cases are called “abusive tax shelters. W2 book for 1040ez ” An investment that is considered a tax shelter is subject to restrictions, including the requirement that it be disclosed, as discussed later. W2 book for 1040ez Topics - This chapter discusses: Abusive Tax Shelters , Rules To Curb Abusive Tax Shelters , Investor Reporting , Penalties , and Whether To Invest . W2 book for 1040ez Useful Items - You may want to see: Publication 538 Accounting Periods and Methods 556 Examination of Returns, Appeal Rights, and Claims for Refund 561 Determining the Value of Donated Property 925 Passive Activity and At-Risk Rules Form (and Instructions) 8275 Disclosure Statement 8275-R Regulation Disclosure Statement 8283 Noncash Charitable Contributions 8886 Reportable Transaction Disclosure Statement See chapter 5, How To Get Tax Help , for information about getting these publications and forms. W2 book for 1040ez Abusive Tax Shelters Abusive tax shelters are marketing schemes involving artificial transactions with little or no economic reality. W2 book for 1040ez They often make use of unrealistic allocations, inflated appraisals, losses in connection with nonrecourse loans, mismatching of income and deductions, financing techniques that do not conform to standard commercial business practices, or mischaracterization of the substance of the transaction. W2 book for 1040ez Despite appearances to the contrary, the taxpayer generally risks little. W2 book for 1040ez Abusive tax shelters commonly involve package deals designed from the start to generate losses, deductions, or credits that will be far more than present or future investment. W2 book for 1040ez Or, they may promise investors from the start that future inflated appraisals will enable them, for example, to reap charitable contribution deductions based on those appraisals. W2 book for 1040ez (But see the appraisal requirements discussed under Rules To Curb Abusive Tax Shelters , later. W2 book for 1040ez ) They are commonly marketed in terms of the ratio of tax deductions allegedly available to each dollar invested. W2 book for 1040ez This ratio (or “write-off”) is frequently said to be several times greater than one-to-one. W2 book for 1040ez Because there are many abusive tax shelters, it is not possible to list all the factors you should consider in determining whether an offering is an abusive tax shelter. W2 book for 1040ez However, you should ask the following questions, which might provide a clue to the abusive nature of the plan. W2 book for 1040ez Do the tax benefits far outweigh the economic benefits? Is this a transaction you would seriously consider, apart from the tax benefits, if you hoped to make a profit? Do shelter assets really exist and, if so, are they insured for less than their purchase price? Is there a nontax justification for the way profits and losses are allocated to partners? Do the facts and supporting documents make economic sense? In that connection, are there sales and resales of the tax shelter property at ever increasing prices? Does the investment plan involve a gimmick, device, or sham to hide the economic reality of the transaction? Does the promoter offer to backdate documents after the close of the year? Are you instructed to backdate checks covering your investment? Is your debt a real debt or are you assured by the promoter that you will never have to pay it? Does this transaction involve laundering United States source income through foreign corporations incorporated in a tax haven and owned by United States shareholders? Rules To Curb Abusive Tax Shelters Congress has enacted a series of income tax laws designed to halt the growth of abusive tax shelters. W2 book for 1040ez These provisions include the following. W2 book for 1040ez Disclosure of reportable transactions. W2 book for 1040ez   You must disclose information for each reportable transaction in which you participate. W2 book for 1040ez See Reportable Transaction Disclosure Statement , later. W2 book for 1040ez   Material advisors with respect to any reportable transaction must disclose information about the transaction on Form 8918, Material Advisor Disclosure Statement. W2 book for 1040ez To determine whether you are a material advisor to a transaction, see the Instructions for Form 8918. W2 book for 1040ez   Material advisors will receive a reportable transaction number for the disclosed reportable transaction. W2 book for 1040ez They must provide this number to all persons to whom they acted as a material advisor. W2 book for 1040ez They must provide the number at the time the transaction is entered into. W2 book for 1040ez If they do not have the number at that time, they must provide it within 60 days from the date the number is mailed to them. W2 book for 1040ez For information on penalties for failure to disclose and failure to maintain lists, see Internal Revenue Code sections 6707, 6707A, and 6708. W2 book for 1040ez Requirement to maintain list. W2 book for 1040ez   Material advisors must maintain a list of persons to whom they provide material aid, assistance, or advice on any reportable transaction. W2 book for 1040ez The list must be available for inspection by the IRS, and the information required to be included on the list generally must be kept for 7 years. W2 book for 1040ez See Regulations section 301. W2 book for 1040ez 6112-1 for more information (including what information is required to be included on the list). W2 book for 1040ez Confidentiality privilege. W2 book for 1040ez   The confidentiality privilege between you and a federally authorized tax practitioner does not apply to written communications made after October 21, 2004, regarding the promotion of your direct or indirect participation in any tax shelter. W2 book for 1040ez Appraisal requirement for donated property. W2 book for 1040ez   If you claim a deduction of more than $5,000 for an item or group of similar items of donated property, you generally must get a qualified appraisal from a qualified appraiser and complete and attach section B of Form 8283 to your return. W2 book for 1040ez If you claim a deduction of more than $500,000 for the donated property, you generally must attach the qualified appraisal to your return. W2 book for 1040ez If you file electronically, see Form 8453, U. W2 book for 1040ez S. W2 book for 1040ez Individual Income Tax Transmittal for an IRS e-file Return, and its instructions. W2 book for 1040ez For more information about appraisals, including exceptions, see Publication 561. W2 book for 1040ez Passive activity loss and credit limits. W2 book for 1040ez   The passive activity loss and credit rules limit the amount of losses and credits that can be claimed from passive activities and limit the amount that can offset nonpassive income, such as certain portfolio income from investments. W2 book for 1040ez For more detailed information about determining and reporting income, losses, and credits from passive activities, see Publication 925. W2 book for 1040ez Interest on penalties. W2 book for 1040ez   If you are assessed an accuracy-related or civil fraud penalty (as discussed under Penalties , later), interest will be imposed on the amount of the penalty from the due date of the return (including any extensions) to the date you pay the penalty. W2 book for 1040ez Accounting method restriction. W2 book for 1040ez   Tax shelters generally cannot use the cash method of accounting. W2 book for 1040ez Uniform capitalization rules. W2 book for 1040ez   The uniform capitalization rules generally apply to producing property or acquiring it for resale. W2 book for 1040ez Under those rules, the direct cost and part of the indirect cost of the property must be capitalized or included in inventory. W2 book for 1040ez For more information, see Publication 538. W2 book for 1040ez Denial of deduction for interest on an underpayment due to a reportable transaction. W2 book for 1040ez   You cannot deduct any interest you paid or accrued on any part of an underpayment of tax due to an understatement arising from a reportable transaction (discussed later) if the relevant facts affecting the tax treatment of the item are not adequately disclosed. W2 book for 1040ez This rule applies to reportable transactions entered into in tax years beginning after October 22, 2004. W2 book for 1040ez Authority for Disallowance of Tax Benefits The IRS has published guidance concluding that the claimed tax benefits of various abusive tax shelters should be disallowed. W2 book for 1040ez The guidance is the conclusion of the IRS on how the law is applied to a particular set of facts. W2 book for 1040ez Guidance is published in the Internal Revenue Bulletin for taxpayers' information and also for use by IRS officials. W2 book for 1040ez So, if your return is examined and an abusive tax shelter is identified and challenged, published guidance dealing with that type of shelter, which disallows certain claimed tax shelter benefits, could serve as the basis for the examining official's challenge of the tax benefits you claimed. W2 book for 1040ez In such a case, the examiner will not compromise even if you or your representative believes you have authority for the positions taken on your tax return. W2 book for 1040ez The courts have generally been unsympathetic to taxpayers involved in abusive tax shelter schemes and have ruled in favor of the IRS in the majority of the cases in which these shelters have been challenged. W2 book for 1040ez Investor Reporting You may be required to file a reportable transaction disclosure statement. W2 book for 1040ez Reportable Transaction Disclosure Statement Use Form 8886 to disclose information for each reportable transaction (discussed later) in which you participated. W2 book for 1040ez Generally, you must attach Form 8886 to your return for each tax year in which you participated in the transaction. W2 book for 1040ez Under certain circumstances, a transaction must be disclosed within 90 days of the transaction being identified as a listed transaction or a transaction of interest (discussed later). W2 book for 1040ez In addition, for the first year Form 8886 is attached to your return, you must send a copy of the form to: Internal Revenue Service OTSA Mail Stop 4915 1973 North Rulon White Blvd. W2 book for 1040ez  Ogden, UT 84404 If you file your return electronically, the copy sent to OTSA must show exactly the same information, word for word, provided with the electronically filed return and it must be provided on the official IRS Form 8886 or an exact copy of the form. W2 book for 1040ez If you use a computer-generated or substitute Form 8886, it must be an exact copy of the official IRS form. W2 book for 1040ez If you fail to file Form 8886 as required or fail to include any required information on the form, you may have to pay a penalty. W2 book for 1040ez See Penalty for failure to disclose a reportable transaction , later under Penalties. W2 book for 1040ez The following discussion briefly describes reportable transactions. W2 book for 1040ez For more details, see the Instructions for Form 8886. W2 book for 1040ez Reportable transaction. W2 book for 1040ez   A reportable transaction is any of the following. W2 book for 1040ez A listed transaction. W2 book for 1040ez A confidential transaction. W2 book for 1040ez A transaction with contractual protection. W2 book for 1040ez A loss transaction. W2 book for 1040ez A transaction of interest entered into after November 1, 2006. W2 book for 1040ez Note. W2 book for 1040ez Transactions with a brief asset holding period were removed from the definition of reportable transaction for transactions entered into after August 2, 2007. W2 book for 1040ez Listed transaction. W2 book for 1040ez   A listed transaction is the same as, or substantially similar to, one of the types of transactions the IRS has determined to be a tax-avoidance transaction. W2 book for 1040ez These transactions have been identified in notices, regulations, and other published guidance issued by the IRS. W2 book for 1040ez For a list of existing guidance, see Notice 2009-59 in Internal Revenue Bulletin 2009-31, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2009-31_IRB/ar07. W2 book for 1040ez html. W2 book for 1040ez Confidential transaction. W2 book for 1040ez   A confidential transaction is offered to you under conditions of confidentiality and for which you have paid an advisor a minimum fee. W2 book for 1040ez A transaction is offered under conditions of confidentiality if the advisor who is paid the fee places a limit on your disclosure of the tax treatment or tax structure of the transaction and the limit protects the confidentiality of the advisor's tax strategies. W2 book for 1040ez The transaction is treated as confidential even if the conditions of confidentiality are not legally binding on you. W2 book for 1040ez Transaction with contractual protection. W2 book for 1040ez   Generally, a transaction with contractual protection is one in which you or a related party has the right to a full or partial refund of fees if all or part of the intended tax consequences of the transaction are not sustained, or a transaction for which the fees are contingent on your realizing the tax benefits from the transaction. W2 book for 1040ez For information on exceptions, see Revenue Procedure 2007-20 in Internal Revenue Bulletin 2007-7, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2007-07_IRB/ar15. W2 book for 1040ez html. W2 book for 1040ez Loss transaction. W2 book for 1040ez   For individuals, a loss transaction is one that results in a deductible loss if the gross amount of the loss is at least $2 million in a single tax year or $4 million in any combination of tax years. W2 book for 1040ez A loss from a foreign currency transaction under Internal Revenue Code section 988 is a loss transaction if the gross amount of the loss is at least $50,000 in a single tax year, whether or not the loss flows through from an S corporation or partnership. W2 book for 1040ez   Certain losses (such as losses from casualties, thefts, and condemnations) are excepted from this category and do not have to be reported on Form 8886. W2 book for 1040ez For information on other exceptions, see Revenue Procedure 2004-66 in Internal Revenue Bulletin 2004-50, as modified and superseded by Revenue Procedure 2013-11, (or future published guidance) available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2004-50_IRB/ar11. W2 book for 1040ez html. W2 book for 1040ez Transaction of interest. W2 book for 1040ez   A transaction of interest is a transaction entered into after November 1, 2006, that is the same as, or substantially similar to, one of the types of transactions that the IRS has identified by notice, regulation, or other form of published guidance as a transaction of interest. W2 book for 1040ez The IRS has identified the following transactions of interest. W2 book for 1040ez “Toggling” grantor trusts as described in Notice 2007-73, 2007-36 I. W2 book for 1040ez R. W2 book for 1040ez B. W2 book for 1040ez 545, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2007-36_IRB/ar20. W2 book for 1040ez html. W2 book for 1040ez Certain transactions involving contributions of a successor member interest in a limited liability company as described in Notice 2007-72, 2007-36 I. W2 book for 1040ez R. W2 book for 1040ez B. W2 book for 1040ez 544, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2007-36_IRB/ar19. W2 book for 1040ez html. W2 book for 1040ez Certain transactions involving the sale or other disposition of all interests in a charitable remainder trust and claiming little or no taxable gain as described in Notice 2008-99, 2008-47 I. W2 book for 1040ez R. W2 book for 1040ez B. W2 book for 1040ez 1194, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2008-47_IRB/ar11. W2 book for 1040ez html. W2 book for 1040ez Certain transactions involving a U. W2 book for 1040ez S. W2 book for 1040ez taxpayer owning controlled foreign corporations (CFCs) that hold stock of a lower-tier CFC through a domestic partnership to avoid reporting income as described in Notice 2009-7, 2009-3 I. W2 book for 1040ez R. W2 book for 1040ez B. W2 book for 1040ez 312, available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2009-03_IRB/ar10. W2 book for 1040ez html. W2 book for 1040ez   For updates to this list, go to www. W2 book for 1040ez irs. W2 book for 1040ez gov/Businesses/Corporations/Abusive-Tax-Shelters-and-Transactions. W2 book for 1040ez Penalties Investing in an abusive tax shelter may lead to substantial expenses. W2 book for 1040ez First, the promoter generally charges a substantial fee. W2 book for 1040ez If your return is examined by the IRS and a tax deficiency is determined, you will be faced with payment of more tax, interest on the underpayment, possibly a 20%, 30%, or even 40% accuracy-related penalty, or a 75% civil fraud penalty. W2 book for 1040ez You may also be subject to the penalty for failure to pay tax. W2 book for 1040ez These penalties are explained in the following paragraphs. W2 book for 1040ez Accuracy-related penalties. W2 book for 1040ez   An accuracy-related penalty of 20% can be imposed for underpayments of tax due to: Negligence or disregard of rules or regulations, Substantial understatement of tax, Substantial valuation misstatement (increased to 40% for gross valuation misstatement), Transaction lacking economic substance (increased to 40% for undisclosed transaction lacking economic substance), or Undisclosed foreign financial asset understatement (40% in all cases). W2 book for 1040ez Except for a transaction lacking economic substance, this penalty will not be imposed if you can show you had reasonable cause for any understatement of tax and that you acted in good faith. W2 book for 1040ez Your failure to disclose a reportable transaction is a strong indication that you failed to act in good faith. W2 book for 1040ez   If you are charged an accuracy-related penalty, interest will be imposed on the amount of the penalty from the due date of the return (including extensions) to the date you pay the penalty. W2 book for 1040ez   The 20% penalties do not apply to any underpayment attributable to a reportable transaction understatement subject to an accuracy-related penalty (discussed later). W2 book for 1040ez Negligence or disregard of rules or regulations. W2 book for 1040ez   The penalty for negligence or disregard of rules or regulations is imposed only on the part of the underpayment due to negligence or disregard of rules or regulations. W2 book for 1040ez The penalty will not be charged if you can show you had reasonable cause for understating your tax and that you acted in good faith. W2 book for 1040ez    Negligence includes any failure to make a reasonable attempt to comply with the provisions of the Internal Revenue Code. W2 book for 1040ez It also includes any failure to keep adequate books and records. W2 book for 1040ez A return position that has a reasonable basis is not negligence. W2 book for 1040ez   Disregard includes any careless, reckless, or intentional disregard of rules or regulations. W2 book for 1040ez   The penalty for disregard of rules and regulations can be avoided if all the following are true. W2 book for 1040ez You keep adequate books and records. W2 book for 1040ez You have a reasonable basis for your position on the tax issue. W2 book for 1040ez You make an adequate disclosure of your position. W2 book for 1040ez Use Form 8275 to make your disclosure and attach it to your return. W2 book for 1040ez To disclose a position contrary to a regulation, use Form 8275-R. W2 book for 1040ez Use Form 8886 to disclose a reportable transaction (discussed earlier). W2 book for 1040ez Substantial understatement of tax. W2 book for 1040ez   An understatement is considered to be substantial if it is more than the greater of: 10% of the tax required to be shown on the return, or $5,000. W2 book for 1040ez An “understatement” is the amount of tax required to be shown on your return for a tax year minus the amount of tax shown on the return, reduced by any rebates. W2 book for 1040ez The term “rebate” generally means a decrease in the tax shown on your original return as the result of your filing an amended return or claim for refund. W2 book for 1040ez   For items other than tax shelters, you can file Form 8275 or Form 8275-R to disclose items that could cause a substantial understatement of income tax. W2 book for 1040ez In that way, you can avoid the substantial understatement penalty if you have a reasonable basis for your position on the tax issue. W2 book for 1040ez Disclosure of the tax shelter item on a tax return does not reduce the amount of the understatement. W2 book for 1040ez   Also, the understatement penalty will not be imposed if you can show there was reasonable cause for the underpayment caused by the understatement and that you acted in good faith. W2 book for 1040ez An important factor in establishing reasonable cause and good faith will be the extent of your effort to determine your proper tax liability under the law. W2 book for 1040ez Substantial valuation misstatement. W2 book for 1040ez   In general, you are liable for a 20% penalty for a substantial valuation misstatement if all the following are true. W2 book for 1040ez The value or adjusted basis of any property claimed on the return is 150% or more of the correct amount. W2 book for 1040ez You underpaid your tax by more than $5,000 because of the misstatement. W2 book for 1040ez You cannot establish that you had reasonable cause for the underpayment and that you acted in good faith. W2 book for 1040ez   You may be assessed a penalty of 40% for a gross valuation misstatement. W2 book for 1040ez If you misstate the value or the adjusted basis of property by 200% or more of the amount determined to be correct, you will be assessed a penalty of 40%, instead of 20%, of the amount you underpaid because of the gross valuation misstatement. W2 book for 1040ez The penalty rate is also 40% if the property's correct value or adjusted basis is zero. W2 book for 1040ez Transaction lacking economic substance. W2 book for 1040ez   The economic substance doctrine only applies to an individual that entered into a transaction in connection with a trade or business or an activity engaged in for the production of income. W2 book for 1040ez For transactions entered into after March 30, 2010, a transaction has economic substance for you as an individual taxpayer only if: The transaction changes your economic position in a meaningful way (apart from federal income tax effects), or You have a substantial purpose (apart from federal income tax effects) for entering into the transaction. W2 book for 1040ez   For purposes of determining whether economic substance exists, a transaction's profit potential will only be taken into account if the present value of the reasonably expected pre-tax profit from the transaction is substantial compared to the present value of the expected net tax benefits that would be allowed if the transaction were respected. W2 book for 1040ez   If any part of your underpayment is due to any disallowance of claimed tax benefits by reason of a transaction lacking economic substance or failing to meet the requirements of any similar rule of law, that part of your underpayment will be subject to the 20% accuracy-related penalty even if you had a reasonable cause and acted in good faith concerning that part. W2 book for 1040ez   Additionally, the penalty increases to 40% if you do not adequately disclose on your return or in a statement attached to your return the relevant facts affecting the tax treatment of a transaction that lacks economic substance. W2 book for 1040ez Relevant facts include any facts affecting the tax treatment of the transaction. W2 book for 1040ez    Any excessive amount of an erroneous claim for an income tax refund or credit (other than a refund or credit related to the earned income credit) that results from a transaction found to be lacking economic substance will not be treated as having a reasonable basis and could be subject to a 20% penalty. W2 book for 1040ez Undisclosed foreign financial asset understatement. W2 book for 1040ez   For tax years beginning after March 18, 2010, you may be liable for a 40% penalty for an understatement of your tax liability due to an undisclosed foreign financial asset. W2 book for 1040ez An undisclosed foreign financial asset is any asset for which an information return, required to be provided under Internal Revenue Code section 6038, 6038B, 6038D, 6046A, or 6048 for any taxable year, is not provided. W2 book for 1040ez The penalty applies to any part of an underpayment related to the following undisclosed foreign financial assets. W2 book for 1040ez Any foreign business you control, reportable on Form 5471, Information Return of U. W2 book for 1040ez S. W2 book for 1040ez Persons With Respect To Certain Foreign Corporations, or Form 8865, Return of U. W2 book for 1040ez S. W2 book for 1040ez Persons With Respect to Certain Foreign Partnerships. W2 book for 1040ez Certain transfers of property to a foreign corporation or partnership, reportable on Form 926, Return by a U. W2 book for 1040ez S. W2 book for 1040ez Transferor of Property to a Foreign Corporation, or certain distributions to a foreign person, reportable on Form 8865. W2 book for 1040ez Your ownership interest in certain foreign financial assets, temporarily reportable on Form 8275 or 8275-R. W2 book for 1040ez    Instead of, or in addition to, Form 8275 or 8275-R, you may have to file Form 8938, Statement of Specified Foreign Financial Assets, with your tax return. W2 book for 1040ez See the Instructions for Form 8938 for details. W2 book for 1040ez    Your acquisition, disposition, or substantial change in ownership interest in a foreign partnership, reportable on Form 8865. W2 book for 1040ez Creation or transfer of money or property to certain foreign trusts, reportable on Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. W2 book for 1040ez Penalty for incorrect appraisals. W2 book for 1040ez   The person who prepares an appraisal of the value of property may have to pay a penalty if: He or she knows, or reasonably should have known, that the appraisal would be used in connection with a return or claim for refund; and The claimed value of the property on a return or claim for refund based on that appraisal results in a substantial valuation misstatement or a gross valuation misstatement as discussed earlier. W2 book for 1040ez For details on the penalty amount and exceptions, see Publication 561. W2 book for 1040ez Penalty for failure to disclose a reportable transaction. W2 book for 1040ez   If you fail to include any required information regarding a reportable transaction (discussed earlier) on a return or statement, you may have to pay a penalty of 75% of the decrease in tax shown on your return as a result of such transaction (or that would have resulted if the transaction were respected for federal tax purposes). W2 book for 1040ez For an individual, the minimum penalty is $5,000 and the maximum is $10,000 (or $100,000 for a listed transaction). W2 book for 1040ez This penalty is in addition to any other penalty that may be imposed. W2 book for 1040ez   The IRS may rescind or abate the penalty for failing to disclose a reportable transaction under certain limited circumstances but cannot rescind the penalty for failing to disclose a listed transaction. W2 book for 1040ez For information on rescission, see Revenue Procedure 2007-21 in Internal Revenue Bulletin 2007-9 available at www. W2 book for 1040ez irs. W2 book for 1040ez gov/irb/2007-09_IRB/ar12. W2 book for 1040ez html. W2 book for 1040ez Accuracy-related penalty for a reportable transaction understatement. W2 book for 1040ez   If you have a reportable transaction understatement, you may have to pay a penalty equal to 20% of the amount of that understatement. W2 book for 1040ez This applies to any item due to a listed transaction or other reportable transaction with a significant purpose of avoiding or evading federal income tax. W2 book for 1040ez The penalty is 30% rather than 20% for the part of any reportable transaction understatement if the transaction was not properly disclosed. W2 book for 1040ez You may not have to pay the 20% penalty if you meet the strengthened reasonable cause and good faith exception. W2 book for 1040ez The reasonable cause and good faith exception does not apply to any part of a reportable transaction understatement attributable to one or more transactions that lack economic substance. W2 book for 1040ez   This penalty does not apply to the part of an understatement on which the fraud penalty, gross valuation misstatement penalty, or penalty for nondisclosure of noneconomic substance transactions is imposed. W2 book for 1040ez Civil fraud penalty. W2 book for 1040ez   If any underpayment of tax on your return is due to fraud, a penalty of 75% of the underpayment will be added to your tax. W2 book for 1040ez Joint return. W2 book for 1040ez   The fraud penalty on a joint return applies to a spouse only if some part of the underpayment is due to the fraud of that spouse. W2 book for 1040ez Failure to pay tax. W2 book for 1040ez   If a deficiency is assessed and is not paid within 10 days of the demand for payment, an investor can be penalized with up to a 25% addition to tax if the failure to pay continues. W2 book for 1040ez Whether To Invest In light of the adverse tax consequences and the substantial amount of penalties and interest that will result if the claimed tax benefits are disallowed, you should consider tax shelter investments carefully and seek competent legal and financial advice. W2 book for 1040ez Prev  Up  Next   Home   More Online Publications