Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

File Amended Return

1040x Form For 2013I Need To File My 2012 TaxesIrs Gov Form 1040xH&r Block Tax EstimatorCan You E File An Amended ReturnIrs Gov FreefileTax Act Online FreeH&r Block Online Tax FilingDoes Military Pay State TaxesHow To Fill Out A 1040x Form2009 Tax Returns OnlineH&rblockWho Has Free State Tax FilingH&r Block Free Efile 20111040ez2013 FormState Income Tax By StateHow Do I File Self Employment TaxesTax Amendment Form 20131040ez Tax Form 2010Irs 2012 Tax Forms 1040 EzFree Tax Filing 2013 Turbotax2011 Irs 1040ez FormWhere Mail 1040x Amended ReturnTax Planning Us 1040xTurbo Tax Free FileHow To Submit An Amended Tax ReturnAmend Tax ReturnsTax Forms 1040ez 2014Free State Filing OnlineWhere To File 2012 Federal Tax ReturnH&r Block Military Key CodeHow To File 2010 Tax ReturnsHow Can I File My 2010 TaxesAmend A Tax ReturnHow To File A 1040xFile 2009 Taxes OnlineHow Can I File An Amended Tax ReturnE File 2011 Tax ReturnIrs Gov Efile1040ez Tax

File Amended Return

File amended return 3. File amended return   Savings Incentive Match Plans for Employees (SIMPLE) Table of Contents Introduction What Is a SIMPLE Plan?Eligible Employees How Are Contributions Made? How Much Can Be Contributed on Your Behalf?Matching contributions less than 3%. File amended return Traditional IRA mistakenly moved to SIMPLE IRA. File amended return When Can You Withdraw or Use Assets?Are Distributions Taxable? Introduction This chapter is for employees who need information about savings incentive match plans for employees (SIMPLE plans). File amended return It explains what a SIMPLE plan is, contributions to a SIMPLE plan, and distributions from a SIMPLE plan. File amended return Under a SIMPLE plan, SIMPLE retirement accounts for participating employees can be set up either as: Part of a 401(k) plan, or A plan using IRAs (SIMPLE IRA). File amended return This chapter only discusses the SIMPLE plan rules that relate to SIMPLE IRAs. File amended return See chapter 3 of Publication 560 for information on any special rules for SIMPLE plans that do not use IRAs. File amended return If your employer maintains a SIMPLE plan, you must be notified, in writing, that you can choose the financial institution that will serve as trustee for your SIMPLE IRA and that you can roll over or transfer your SIMPLE IRA to another financial institution. File amended return See Rollovers and Transfers Exception, later under When Can You Withdraw or Use Assets. File amended return What Is a SIMPLE Plan? A SIMPLE plan is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. File amended return See chapter 3 of Publication 560 for information on the requirements employers must satisfy to set up a SIMPLE plan. File amended return A SIMPLE plan is a written agreement (salary reduction agreement) between you and your employer that allows you, if you are an eligible employee (including a self-employed individual), to choose to: Reduce your compensation (salary) by a certain percentage each pay period, and Have your employer contribute the salary reductions to a SIMPLE IRA on your behalf. File amended return These contributions are called salary reduction contributions. File amended return All contributions under a SIMPLE IRA plan must be made to SIMPLE IRAs, not to any other type of IRA. File amended return The SIMPLE IRA can be an individual retirement account or an individual retirement annuity, described in chapter 1. File amended return Contributions are made on behalf of eligible employees. File amended return (See Eligible Employees below. File amended return ) Contributions are also subject to various limits. File amended return (See How Much Can Be Contributed on Your Behalf , later. File amended return ) In addition to salary reduction contributions, your employer must make either matching contributions or nonelective contributions. File amended return See How Are Contributions Made , later. File amended return You may be able to claim a credit for contributions to your SIMPLE plan. File amended return For more information, see chapter 4. File amended return Eligible Employees You must be allowed to participate in your employer's SIMPLE plan if you: Received at least $5,000 in compensation from your employer during any 2 years prior to the current year, and Are reasonably expected to receive at least $5,000 in compensation during the calendar year for which contributions are made. File amended return Self-employed individual. File amended return   For SIMPLE plan purposes, the term employee includes a self-employed individual who received earned income. File amended return Excludable employees. File amended return   Your employer can exclude the following employees from participating in the SIMPLE plan. File amended return Employees whose retirement benefits are covered by a collective bargaining agreement (union contract). File amended return Employees who are nonresident aliens and received no earned income from sources within the United States. File amended return Employees who would not have been eligible employees if an acquisition, disposition, or similar transaction had not occurred during the year. File amended return Compensation. File amended return   For purposes of the SIMPLE plan rules, your compensation for a year generally includes the following amounts. File amended return Wages, tips, and other pay from your employer that is subject to income tax withholding. File amended return Deferred amounts elected under any 401(k) plans, 403(b) plans, government (section 457) plans, SEP plans, and SIMPLE plans. File amended return Self-employed individual compensation. File amended return   For purposes of the SIMPLE plan rules, if you are self-employed, your compensation for a year is your net earnings from self-employment (Schedule SE (Form 1040), Section A, line 4, or Section B, line 6) before subtracting any contributions made to a SIMPLE IRA on your behalf. File amended return   For these purposes, net earnings from self-employment include services performed while claiming exemption from self-employment tax as a member of a group conscientiously opposed to social security benefits. File amended return How Are Contributions Made? Contributions under a salary reduction agreement are called salary reduction contributions. File amended return They are made on your behalf by your employer. File amended return Your employer must also make either matching contributions or nonelective contributions. File amended return Salary reduction contributions. File amended return   During the 60-day period before the beginning of any year, and during the 60-day period before you are eligible, you can choose salary reduction contributions expressed either as a percentage of compensation, or as a specific dollar amount (if your employer offers this choice). File amended return You can choose to cancel the election at any time during the year. File amended return   Salary reduction contributions are also referred to as “elective deferrals. File amended return ”   Your employer cannot place restrictions on the contributions amount (such as by limiting the contributions percentage), except to comply with the salary reduction contributions limit, discussed under How Much Can Be Contributed on Your Behalf, later. File amended return Matching contributions. File amended return   Unless your employer chooses to make nonelective contributions, your employer must make contributions equal to the salary reduction contributions you choose (elect), but only up to certain limits. File amended return See How Much Can Be Contributed on Your Behalf below. File amended return These contributions are in addition to the salary reduction contributions and must be made to the SIMPLE IRAs of all eligible employees (defined earlier) who chose salary reductions. File amended return These contributions are referred to as matching contributions. File amended return   Matching contributions on behalf of a self-employed individual are not treated as salary reduction contributions. File amended return Nonelective contributions. File amended return   Instead of making matching contributions, your employer may be able to choose to make nonelective contributions on behalf of all eligible employees. File amended return These nonelective contributions must be made on behalf of each eligible employee who has at least $5,000 of compensation from your employer, whether or not the employee chose salary reductions. File amended return   One of the requirements your employer must satisfy is notifying the employees that the election was made. File amended return For other requirements that your employer must satisfy, see chapter 3 of Publication 560. File amended return How Much Can Be Contributed on Your Behalf? The limits on contributions to a SIMPLE IRA vary with the type of contribution that is made. File amended return Salary reduction contributions limit. File amended return   Salary reduction contributions (employee-chosen contributions or elective deferrals) that your employer can make on your behalf under a SIMPLE plan are limited to $12,000 for 2013. File amended return The limitation remains at $12,000 for 2014. File amended return If you are a participant in any other employer plans during 2013 and you have elective salary reductions or deferred compensation under those plans, the salary reduction contributions under the SIMPLE plan also are included in the annual limit of $17,500 for 2013 on exclusions of salary reductions and other elective deferrals. File amended return You, not your employer, are responsible for monitoring compliance with these limits. File amended return Additional elective deferrals can be contributed to your SIMPLE plan if: You reached age 50 by the end of 2013, and No other elective deferrals can be made for you to the plan for the year because of limits or restrictions, such as the regular annual limit. File amended return The most that can be contributed in additional elective deferrals to your SIMPLE plan is the lesser of the following two amounts. File amended return $2,500 for 2013, or Your compensation for the year reduced by your other elective deferrals for the year. File amended return The additional deferrals are not subject to any other contribution limit and are not taken into account in applying other contribution limits. File amended return The additional deferrals are not subject to the nondiscrimination rules as long as all eligible participants are allowed to make them. File amended return Matching employer contributions limit. File amended return   Generally, your employer must make matching contributions to your SIMPLE IRA in an amount equal to your salary reduction contributions. File amended return These matching contributions cannot be more than 3% of your compensation for the calendar year. File amended return See Matching contributions less than 3% below. File amended return Example 1. File amended return In 2013, Joshua was a participant in his employer's SIMPLE plan. File amended return His compensation, before SIMPLE plan contributions, was $41,600 ($800 per week). File amended return Instead of taking it all in cash, Joshua elected to have 12. File amended return 5% of his weekly pay ($100) contributed to his SIMPLE IRA. File amended return For the full year, Joshua's salary reduction contributions were $5,200, which is less than the $12,000 limit on these contributions. File amended return Under the plan, Joshua's employer was required to make matching contributions to Joshua's SIMPLE IRA. File amended return Because his employer's matching contributions must equal Joshua's salary reductions, but cannot be more than 3% of his compensation (before salary reductions) for the year, his employer's matching contribution was limited to $1,248 (3% of $41,600). File amended return Example 2. File amended return Assume the same facts as in Example 1 , except that Joshua's compensation for the year was $408,163 and he chose to have 2. File amended return 94% of his weekly pay contributed to his SIMPLE IRA. File amended return In this example, Joshua's salary reduction contributions for the year (2. File amended return 94% × $408,163) were equal to the 2013 limit for salary reduction contributions ($12,000). File amended return Because 3% of Joshua's compensation ($12,245) is more than the amount his employer was required to match ($12,000), his employer's matching contributions were limited to $12,000. File amended return In this example, total contributions made on Joshua's behalf for the year were $24,000 ($12,000 (Joshua's contributions) + $12,000 (matching contributions)), the maximum contributions permitted under a SIMPLE IRA for 2013. File amended return Matching contributions less than 3%. File amended return   Your employer can reduce the 3% limit on matching contributions for a calendar year, but only if: The limit is not reduced below 1%, The limit is not reduced for more than 2 years out of the 5-year period that ends with (and includes) the year for which the election is effective, and Employees are notified of the reduced limit within a reasonable period of time before the 60-day election period during which they can enter into salary reduction agreements. File amended return   For purposes of applying the rule in item (2) in determining whether the limit was reduced below 3% for the year, any year before the first year in which your employer (or a former employer) maintains a SIMPLE IRA plan will be treated as a year for which the limit was 3%. File amended return If your employer chooses to make nonelective contributions for a year, that year also will be treated as a year for which the limit was 3%. File amended return Nonelective employer contributions limit. File amended return   If your employer chooses to make nonelective contributions, instead of matching contributions, to each eligible employee's SIMPLE IRA, contributions must be 2% of your compensation for the entire year. File amended return For 2013, only $255,000 of your compensation can be taken into account to figure the contribution limit. File amended return   Your employer can substitute the 2% nonelective contribution for the matching contribution for a year if both of the following requirements are met. File amended return Eligible employees are notified that a 2% nonelective contribution will be made instead of a matching contribution. File amended return This notice is provided within a reasonable period during which employees can enter into salary reduction agreements. File amended return Example 3. File amended return Assume the same facts as in Example 2 , except that Joshua's employer chose to make nonelective contributions instead of matching contributions. File amended return Because his employer's nonelective contributions are limited to 2% of up to $255,000 of Joshua's compensation, his employer's contribution to Joshua's SIMPLE IRA was limited to $5,100. File amended return In this example, total contributions made on Joshua's behalf for the year were $17,100 (Joshua's salary reductions of $12,000 plus his employer's contribution of $5,100). File amended return Traditional IRA mistakenly moved to SIMPLE IRA. File amended return   If you mistakenly roll over or transfer an amount from a traditional IRA to a SIMPLE IRA, you can later recharacterize the amount as a contribution to another traditional IRA. File amended return For more information, see Recharacterizations in chapter 1. File amended return Recharacterizing employer contributions. File amended return   You cannot recharacterize employer contributions (including elective deferrals) under a SEP or SIMPLE plan as contributions to another IRA. File amended return SEPs are discussed in chapter 2 of Publication 560. File amended return SIMPLE plans are discussed in this chapter. File amended return Converting from a SIMPLE IRA. File amended return   Generally, you can convert an amount in your SIMPLE IRA to a Roth IRA under the same rules explained in chapter 1 under Converting From Any Traditional IRA Into a Roth IRA . File amended return    However, you cannot convert any amount distributed from the SIMPLE IRA during the 2-year period beginning on the date you first participated in any SIMPLE IRA plan maintained by your employer. File amended return When Can You Withdraw or Use Assets? Generally, the same distribution (withdrawal) rules that apply to traditional IRAs apply to SIMPLE IRAs. File amended return These rules are discussed in chapter 1. File amended return Your employer cannot restrict you from taking distributions from a SIMPLE IRA. File amended return Are Distributions Taxable? Generally, distributions from a SIMPLE IRA are fully taxable as ordinary income. File amended return If the distribution is an early distribution (discussed in chapter 1), it may be subject to the additional tax on early distributions. File amended return See Additional Tax on Early Distributions, later. File amended return Rollovers and Transfers Exception Generally, rollovers and trustee-to-trustee transfers are not taxable distributions. File amended return Two-year rule. File amended return   To qualify as a tax-free rollover (or a tax-free trustee-to-trustee transfer), a rollover distribution (or a transfer) made from a SIMPLE IRA during the 2-year period beginning on the date on which you first participated in your employer's SIMPLE plan must be contributed (or transferred) to another SIMPLE IRA. File amended return The 2-year period begins on the first day on which contributions made by your employer are deposited in your SIMPLE IRA. File amended return   After the 2-year period, amounts in a SIMPLE IRA can be rolled over or transferred tax free to an IRA other than a SIMPLE IRA, or to a qualified plan, a tax-sheltered annuity plan (section 403(b) plan), or deferred compensation plan of a state or local government (section 457 plan). File amended return Additional Tax on Early Distributions The additional tax on early distributions (discussed in chapter 1) applies to SIMPLE IRAs. File amended return If a distribution is an early distribution and occurs during the 2-year period following the date on which you first participated in your employer's SIMPLE plan, the additional tax on early distributions is increased from 10% to 25%. File amended return If a rollover distribution (or transfer) from a SIMPLE IRA does not satisfy the 2-year rule, and is otherwise an early distribution, the additional tax imposed because of the early distribution is increased from 10% to 25% of the amount distributed. File amended return Prev  Up  Next   Home   More Online Publications
Español

  • Car-Crash Scams on the Rise
    Gangs of thieves stage accidents, fake injuries and then collect millions in fraudulent insurance claims. The criminals usually work in groups to stage the accidents and make fraudulent insurance claims. A typical scam might include paid witnesses, several drivers, passengers who will claim injuries, and medical providers who will make false claims for the treatment. Questionable insurance claims from such staged crashes are on the rise, the National Insurance Crime Bureau reported this week, up 46% from 2007 to 2009. Florida leads the list of states with the highest number of claims from staged accidents in the three years (3,006), followed by New York (1,680), California (1,619), Texas (792) and Illinois (433).
  • No-Fault Insurance Fraud in New York State is Ramping Up Premiums
    Fraud is driving up the cost of auto insurance for New York State drivers, particularly those who live in New York City's five boroughs and its neighboring suburbs. As a result, some people are paying four times more for no-fault auto insurance than the state average and seven times more than drivers in Albany, which has fewer cases of fraud.

The File Amended Return

File amended return Publication 525 - Additional Material Prev  Up  Next   Home   More Online Publications