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How To Get 2012 Tax Forms

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How To Get 2012 Tax Forms

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The How To Get 2012 Tax Forms

How to get 2012 tax forms 7. How to get 2012 tax forms   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. How to get 2012 tax forms Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. How to get 2012 tax forms Useful Items - You may want to see: Forms (and Instructions) 1040 U. How to get 2012 tax forms S. How to get 2012 tax forms Individual Income Tax Return 1040A U. How to get 2012 tax forms S. How to get 2012 tax forms Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. How to get 2012 tax forms S. How to get 2012 tax forms Nonresident Alien Income Tax Return 1040NR-EZ U. How to get 2012 tax forms S. How to get 2012 tax forms Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. How to get 2012 tax forms 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. How to get 2012 tax forms Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. How to get 2012 tax forms 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). How to get 2012 tax forms Under U. How to get 2012 tax forms S. How to get 2012 tax forms 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. How to get 2012 tax forms Extensions of time to file. How to get 2012 tax forms   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. How to get 2012 tax forms 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). How to get 2012 tax forms Use Form 4868 to get the extension to October 15. How to get 2012 tax forms 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). How to get 2012 tax forms To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. How to get 2012 tax forms 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. How to get 2012 tax forms   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. How to get 2012 tax forms S. How to get 2012 tax forms citizens and resident aliens abroad who expect to qualify for special tax treatment). How to get 2012 tax forms    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. How to get 2012 tax forms You may be able to file your return electronically. How to get 2012 tax forms See IRS e-file in your form instructions. How to get 2012 tax forms Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. How to get 2012 tax forms If you are any of the following, you must file a return. How to get 2012 tax forms A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. How to get 2012 tax forms (But see Exceptions , later. How to get 2012 tax forms ) 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. How to get 2012 tax forms S. How to get 2012 tax forms sources, or Your income is exempt from income tax. How to get 2012 tax forms A nonresident alien individual not engaged in a trade or business in the United States with U. How to get 2012 tax forms S. How to get 2012 tax forms income on which the tax liability was not satisfied by the withholding of tax at the source. How to get 2012 tax forms A representative or agent responsible for filing the return of an individual described in (1) or (2). How to get 2012 tax forms A fiduciary for a nonresident alien estate or trust. How to get 2012 tax forms 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. How to get 2012 tax forms For example, if you have no U. How to get 2012 tax forms S. How to get 2012 tax forms 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. How to get 2012 tax forms For information on what is timely, see When to file for deductions and credits under When To File, later. How to get 2012 tax forms Exceptions. How to get 2012 tax forms   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. How to get 2012 tax forms Your only U. How to get 2012 tax forms S. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms Even if you have left the United States and filed a Form 1040-C, U. How to get 2012 tax forms S. How to get 2012 tax forms Departing Alien Income Tax Return, on departure, you still must file an annual U. How to get 2012 tax forms S. How to get 2012 tax forms income tax return. How to get 2012 tax forms If you are married and both you and your spouse are required to file, you must each file a separate return. How to get 2012 tax forms Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. How to get 2012 tax forms You do not claim any dependents. How to get 2012 tax forms You cannot be claimed as a dependent on someone else's U. How to get 2012 tax forms S. How to get 2012 tax forms tax return. How to get 2012 tax forms If you were married, you do not claim an exemption for your spouse. How to get 2012 tax forms Your taxable income is less than $100,000. How to get 2012 tax forms The only itemized deduction you can claim is for state and local income taxes. How to get 2012 tax forms Note. How to get 2012 tax forms 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. How to get 2012 tax forms See chapter 5. How to get 2012 tax forms Your only U. How to get 2012 tax forms S. How to get 2012 tax forms source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. How to get 2012 tax forms (If you had taxable interest or dividend income, you cannot use this form. How to get 2012 tax forms ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. How to get 2012 tax forms You are not claiming any tax credits. How to get 2012 tax forms This is not an “expatriation return. How to get 2012 tax forms ” See Expatriation Tax in chapter 4. How to get 2012 tax forms The only taxes you owe are: The income tax from the Tax Table. How to get 2012 tax forms The social security and Medicare tax from Form 4137 or Form 8919. How to get 2012 tax forms You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. How to get 2012 tax forms 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. How to get 2012 tax forms If you do not meet all of the above conditions, you must file Form 1040NR. How to get 2012 tax forms When To File If you are an employee and you receive wages subject to U. How to get 2012 tax forms S. How to get 2012 tax forms income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. How to get 2012 tax forms For the 2013 calendar year, file your return by April 15, 2014. How to get 2012 tax forms If you are not an employee who receives wages subject to U. How to get 2012 tax forms S. How to get 2012 tax forms income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. How to get 2012 tax forms For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. How to get 2012 tax forms ) Extensions of time to file. How to get 2012 tax forms   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. How to get 2012 tax forms 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). How to get 2012 tax forms You must file the extension by the regular due date of your return. How to get 2012 tax forms   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). How to get 2012 tax forms To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. How to get 2012 tax forms 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. How to get 2012 tax forms When to file for deductions and credits. How to get 2012 tax forms   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. How to get 2012 tax forms For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. How to get 2012 tax forms 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. How to get 2012 tax forms The allowance of the following credits is not affected by this time requirement. How to get 2012 tax forms Credit for withheld taxes. How to get 2012 tax forms Credit for excise tax on certain uses of gasoline and special fuels. How to get 2012 tax forms 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. How to get 2012 tax forms Protective return. How to get 2012 tax forms   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. How to get 2012 tax forms S. How to get 2012 tax forms trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms   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. How to get 2012 tax forms 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. How to get 2012 tax forms   You can follow the same procedure if you believe you have no U. How to get 2012 tax forms S. How to get 2012 tax forms tax liability because of a U. How to get 2012 tax forms S. How to get 2012 tax forms tax treaty. How to get 2012 tax forms Be sure to also complete item L on page 5 of Form 1040NR. How to get 2012 tax forms Waiver of filing deadline. How to get 2012 tax forms   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. How to get 2012 tax forms S. How to get 2012 tax forms income tax return (including a protective return) and you cooperate with the IRS in determining your U. How to get 2012 tax forms S. How to get 2012 tax forms income tax liability for the tax year for which you did not file a return. How to get 2012 tax forms Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. How to get 2012 tax forms  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. How to get 2012 tax forms O. How to get 2012 tax forms Box 1303 Charlotte, NC 28201-1303 Aliens from the U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islands. How to get 2012 tax forms    If you are a bona fide resident of the U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islands and file your income tax returns at the following address. How to get 2012 tax forms Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. How to get 2012 tax forms Thomas, VI 00802   Report all income from U. How to get 2012 tax forms S. How to get 2012 tax forms sources, as well as income from other sources, on your return. How to get 2012 tax forms For information on filing U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islands returns, contact the U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islands Bureau of Internal Revenue. How to get 2012 tax forms   Chapter 8 discusses withholding from U. How to get 2012 tax forms S. How to get 2012 tax forms wages of U. How to get 2012 tax forms S. How to get 2012 tax forms Virgin Islanders. How to get 2012 tax forms Aliens from Guam or the Commonwealth of the Northern Mariana Islands. How to get 2012 tax forms   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. How to get 2012 tax forms Report all income, including income from U. How to get 2012 tax forms S. How to get 2012 tax forms sources, on your return. How to get 2012 tax forms It is not necessary to file a separate U. How to get 2012 tax forms S. How to get 2012 tax forms income tax return. How to get 2012 tax forms    Bona fide residents of Guam should file their Guam returns at the following address. How to get 2012 tax forms   Department of Revenue and Taxation Government of Guam P. How to get 2012 tax forms O. How to get 2012 tax forms Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. How to get 2012 tax forms   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. How to get 2012 tax forms O. How to get 2012 tax forms Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. How to get 2012 tax forms 570, Tax Guide for Individuals With Income From U. How to get 2012 tax forms S. How to get 2012 tax forms Possessions, for information on where to file your return. How to get 2012 tax forms 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. How to get 2012 tax forms S. How to get 2012 tax forms Individual Income Tax Return. How to get 2012 tax forms Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. How to get 2012 tax forms If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. How to get 2012 tax forms ) to Form 1040X. How to get 2012 tax forms Print “Amended” across the top. How to get 2012 tax forms 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. How to get 2012 tax forms A return filed before the final due date is considered to have been filed on the due date. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms Filing requirements. How to get 2012 tax forms   FinCEN Form 105 filing requirements follow. How to get 2012 tax forms Recipients. How to get 2012 tax forms   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. How to get 2012 tax forms Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. How to get 2012 tax forms   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. How to get 2012 tax forms Travelers. How to get 2012 tax forms   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. How to get 2012 tax forms Penalties. How to get 2012 tax forms   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. How to get 2012 tax forms Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. How to get 2012 tax forms More information. How to get 2012 tax forms   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. How to get 2012 tax forms 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. How to get 2012 tax forms A resident alien of the United States for any part of the tax year. How to get 2012 tax forms 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. How to get 2012 tax forms S. How to get 2012 tax forms income tax treaty. How to get 2012 tax forms See Effect of Tax Treaties in chapter 1. How to get 2012 tax forms A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. How to get 2012 tax forms See chapter 1 for information about this election. How to get 2012 tax forms A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. How to get 2012 tax forms See Publication 570, Tax Guide for Individuals With Income From U. How to get 2012 tax forms S. How to get 2012 tax forms Possessions, for a definition of bona fide resident. How to get 2012 tax forms You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms S. How to get 2012 tax forms person. How to get 2012 tax forms 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. How to get 2012 tax forms More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. How to get 2012 tax forms Penalties The law provides penalties for failure to file returns or pay taxes as required. How to get 2012 tax forms Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. How to get 2012 tax forms 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. How to get 2012 tax forms If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. How to get 2012 tax forms Filing late. How to get 2012 tax forms   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. How to get 2012 tax forms The penalty is based on the tax not paid by the due date (without regard to extensions). How to get 2012 tax forms The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. How to get 2012 tax forms Fraud. How to get 2012 tax forms   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%. How to get 2012 tax forms Return over 60 days late. How to get 2012 tax forms   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. How to get 2012 tax forms Exception. How to get 2012 tax forms   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. How to get 2012 tax forms Paying tax late. How to get 2012 tax forms   You will have to pay a failure-to-pay penalty of ½ of 1% (. How to get 2012 tax forms 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. How to get 2012 tax forms 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. How to get 2012 tax forms   The monthly rate of the failure-to-pay penalty is half the usual rate (. How to get 2012 tax forms 25% instead of . How to get 2012 tax forms 50%) if an installment agreement is in effect for that month. How to get 2012 tax forms You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. How to get 2012 tax forms   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. How to get 2012 tax forms 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. How to get 2012 tax forms   This penalty cannot be more than 25% of your unpaid tax. How to get 2012 tax forms 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. How to get 2012 tax forms Combined penalties. How to get 2012 tax forms   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. How to get 2012 tax forms 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. How to get 2012 tax forms Accuracy-related penalty. How to get 2012 tax forms   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. How to get 2012 tax forms The penalty is equal to 20% of the underpayment. How to get 2012 tax forms 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. How to get 2012 tax forms The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. How to get 2012 tax forms Negligence or disregard. How to get 2012 tax forms   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. How to get 2012 tax forms Negligence also includes failure to keep adequate books and records. How to get 2012 tax forms You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. How to get 2012 tax forms   The term “disregard” includes any careless, reckless, or intentional disregard. How to get 2012 tax forms Adequate disclosure. How to get 2012 tax forms   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. How to get 2012 tax forms See Disclosure statement , later. How to get 2012 tax forms   This exception will not apply to an item that is attributable to a tax shelter. How to get 2012 tax forms In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. How to get 2012 tax forms Substantial understatement of income tax. How to get 2012 tax forms   You understate your tax if the tax shown on your return is less than the correct tax. How to get 2012 tax forms The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. How to get 2012 tax forms 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. How to get 2012 tax forms   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. How to get 2012 tax forms 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. How to get 2012 tax forms Substantial authority. How to get 2012 tax forms   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. How to get 2012 tax forms 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. How to get 2012 tax forms Disclosure statement. How to get 2012 tax forms   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. How to get 2012 tax forms You must also have a reasonable basis for treating the item the way you did. How to get 2012 tax forms   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. How to get 2012 tax forms   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. How to get 2012 tax forms Transaction lacking economic substance. How to get 2012 tax forms   For more information on economic substance, see section 7701(o). How to get 2012 tax forms Foreign financial asset. How to get 2012 tax forms   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. How to get 2012 tax forms Reasonable cause. How to get 2012 tax forms   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. How to get 2012 tax forms You must also show that you acted in good faith. How to get 2012 tax forms This does not apply to a transaction that lacks economic substance. How to get 2012 tax forms Filing erroneous claim for refund or credit. How to get 2012 tax forms   You may have to pay a penalty if you file an erroneous claim for refund or credit. How to get 2012 tax forms 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. How to get 2012 tax forms However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. How to get 2012 tax forms 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. How to get 2012 tax forms Frivolous tax submission. How to get 2012 tax forms   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. How to get 2012 tax forms 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. How to get 2012 tax forms 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. How to get 2012 tax forms irs. How to get 2012 tax forms gov/irb/2010-17_irb/ar13. How to get 2012 tax forms html. How to get 2012 tax forms   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. How to get 2012 tax forms This includes altering or striking out the preprinted language above the space provided for your signature. How to get 2012 tax forms   This penalty is added to any other penalty provided by law. How to get 2012 tax forms Fraud. How to get 2012 tax forms   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. How to get 2012 tax forms Failure to supply taxpayer identification number. How to get 2012 tax forms   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. How to get 2012 tax forms 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. How to get 2012 tax forms   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. How to get 2012 tax forms The number must be shown on the Form 1099-INT or other statement the bank sends you. How to get 2012 tax forms If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. How to get 2012 tax forms (You also may be subject to “backup” withholding of income tax. How to get 2012 tax forms )   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. How to get 2012 tax forms 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. How to get 2012 tax forms Prev  Up  Next   Home   More Online Publications