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I Need To File My 2012 Tax Return

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I Need To File My 2012 Tax Return

I need to file my 2012 tax return Publication 538 - Main Content Table of Contents Accounting PeriodsCalendar Year Fiscal Year Short Tax Year Improper Tax Year Change in Tax Year Individuals Partnerships, S Corporations, and Personal Service Corporations (PSCs) Corporations (Other Than S Corporations and PSCs) Accounting MethodsSpecial methods. I need to file my 2012 tax return Hybrid method. I need to file my 2012 tax return Cash Method Accrual Method Inventories Change in Accounting Method How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). I need to file my 2012 tax return Accounting Periods You must use a tax year to figure your taxable income. I need to file my 2012 tax return A tax year is an annual accounting period for keeping records and reporting income and expenses. I need to file my 2012 tax return An annual accounting period does not include a short tax year (discussed later). I need to file my 2012 tax return You can use the following tax years: A calendar year; or A fiscal year (including a 52-53-week tax year). I need to file my 2012 tax return Unless you have a required tax year, you adopt a tax year by filing your first income tax return using that tax year. I need to file my 2012 tax return A required tax year is a tax year required under the Internal Revenue Code or the Income Tax Regulations. I need to file my 2012 tax return You cannot adopt a tax year by merely: Filing an application for an extension of time to file an income tax return; Filing an application for an employer identification number (Form SS-4); or Paying estimated taxes. I need to file my 2012 tax return This section discusses: A calendar year. I need to file my 2012 tax return A fiscal year (including a period of 52 or 53 weeks). I need to file my 2012 tax return A short tax year. I need to file my 2012 tax return An improper tax year. I need to file my 2012 tax return A change in tax year. I need to file my 2012 tax return Special situations that apply to individuals. I need to file my 2012 tax return Restrictions that apply to the accounting period of a partnership, S corporation, or personal service corporation. I need to file my 2012 tax return Special situations that apply to corporations. I need to file my 2012 tax return Calendar Year A calendar year is 12 consecutive months beginning on January 1st and ending on December 31st. I need to file my 2012 tax return If you adopt the calendar year, you must maintain your books and records and report your income and expenses from January 1st through December 31st of each year. I need to file my 2012 tax return If you file your first tax return using the calendar tax year and you later begin business as a sole proprietor, become a partner in a partnership, or become a shareholder in an S corporation, you must continue to use the calendar year unless you obtain approval from the IRS to change it, or are otherwise allowed to change it without IRS approval. I need to file my 2012 tax return See Change in Tax Year, later. I need to file my 2012 tax return Generally, anyone can adopt the calendar year. I need to file my 2012 tax return However, you must adopt the calendar year if: You keep no books or records; You have no annual accounting period; Your present tax year does not qualify as a fiscal year; or You are required to use a calendar year by a provision in the Internal Revenue Code or the Income Tax Regulations. I need to file my 2012 tax return Fiscal Year A fiscal year is 12 consecutive months ending on the last day of any month except December 31st. I need to file my 2012 tax return If you are allowed to adopt a fiscal year, you must consistently maintain your books and records and report your income and expenses using the time period adopted. I need to file my 2012 tax return 52-53-Week Tax Year You can elect to use a 52-53-week tax year if you keep your books and records and report your income and expenses on that basis. I need to file my 2012 tax return If you make this election, your 52-53-week tax year must always end on the same day of the week. I need to file my 2012 tax return Your 52-53-week tax year must always end on: Whatever date this same day of the week last occurs in a calendar month, or Whatever date this same day of the week falls that is nearest to the last day of the calendar month. I need to file my 2012 tax return For example, if you elect a tax year that always ends on the last Monday in March, your 2012 tax year will end on March 25, 2013. I need to file my 2012 tax return Election. I need to file my 2012 tax return   To make the election for the 52-53-week tax year, attach a statement with the following information to your tax return. I need to file my 2012 tax return The month in which the new 52-53-week tax year ends. I need to file my 2012 tax return The day of the week on which the tax year always ends. I need to file my 2012 tax return The date the tax year ends. I need to file my 2012 tax return It can be either of the following dates on which the chosen day: Last occurs in the month in (1), above, or Occurs nearest to the last day of the month in (1), above. I need to file my 2012 tax return   When you figure depreciation or amortization, a 52-53-week tax year is generally considered a year of 12 calendar months. I need to file my 2012 tax return   To determine an effective date (or apply provisions of any law) expressed in terms of tax years beginning, including, or ending on the first or last day of a specified calendar month, a 52-53-week tax year is considered to: Begin on the first day of the calendar month beginning nearest to the first day of the 52-53-week tax year, and End on the last day of the calendar month ending nearest to the last day of the 52-53-week tax year. I need to file my 2012 tax return Example. I need to file my 2012 tax return Assume a tax provision applies to tax years beginning on or after July 1, 2012, which happens to be a Sunday. I need to file my 2012 tax return For this purpose, a 52-53-week tax year that begins on the last Tuesday of June, which falls on June 26, 2012, is treated as beginning on July 1, 2012. I need to file my 2012 tax return Short Tax Year A short tax year is a tax year of less than 12 months. I need to file my 2012 tax return A short period tax return may be required when you (as a taxable entity): Are not in existence for an entire tax year, or Change your accounting period. I need to file my 2012 tax return Tax on a short period tax return is figured differently for each situation. I need to file my 2012 tax return Not in Existence Entire Year Even if a taxable entity was not in existence for the entire year, a tax return is required for the time it was in existence. I need to file my 2012 tax return Requirements for filing the return and figuring the tax are generally the same as the requirements for a return for a full tax year (12 months) ending on the last day of the short tax year. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return XYZ Corporation was organized on July 1, 2012. I need to file my 2012 tax return It elected the calendar year as its tax year. I need to file my 2012 tax return Therefore, its first tax return was due March 15, 2013. I need to file my 2012 tax return This short period return will cover the period from July 1, 2012, through December 31, 2012. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return A calendar year corporation dissolved on July 23, 2012. I need to file my 2012 tax return Its final return is due by October 15, 2012. I need to file my 2012 tax return It will cover the short period from January 1, 2012, through July 23, 2012. I need to file my 2012 tax return Death of individual. I need to file my 2012 tax return   When an individual dies, a tax return must be filed for the decedent by the 15th day of the 4th month after the close of the individual's regular tax year. I need to file my 2012 tax return The decedent's final return will be a short period tax return that begins on January 1st, and ends on the date of death. I need to file my 2012 tax return In the case of a decedent who dies on December 31st, the last day of the regular tax year, a full calendar-year tax return is required. I need to file my 2012 tax return Example. I need to file my 2012 tax return   Agnes Green was a single, calendar year taxpayer. I need to file my 2012 tax return She died on March 6, 2012. I need to file my 2012 tax return Her final income tax return must be filed by April 15, 2013. I need to file my 2012 tax return It will cover the short period from January 1, 2012, to March 6, 2012. I need to file my 2012 tax return Figuring Tax for Short Year If the IRS approves a change in your tax year or you are required to change your tax year, you must figure the tax and file your return for the short tax period. I need to file my 2012 tax return The short tax period begins on the first day after the close of your old tax year and ends on the day before the first day of your new tax year. I need to file my 2012 tax return Figure tax for a short year under the general rule, explained below. I need to file my 2012 tax return You may then be able to use a relief procedure, explained later, and claim a refund of part of the tax you paid. I need to file my 2012 tax return General rule. I need to file my 2012 tax return   Income tax for a short tax year must be annualized. I need to file my 2012 tax return However, self-employment tax is figured on the actual self-employment income for the short period. I need to file my 2012 tax return Individuals. I need to file my 2012 tax return   An individual must figure income tax for the short tax year as follows. I need to file my 2012 tax return Determine your adjusted gross income (AGI) for the short tax year and then subtract your actual itemized deductions for the short tax year. I need to file my 2012 tax return You must itemize deductions when you file a short period tax return. I need to file my 2012 tax return Multiply the dollar amount of your exemptions by the number of months in the short tax year and divide the result by 12. I need to file my 2012 tax return Subtract the amount in (2) from the amount in (1). I need to file my 2012 tax return The result is your modified taxable income. I need to file my 2012 tax return Multiply the modified taxable income in (3) by 12, then divide the result by the number of months in the short tax year. I need to file my 2012 tax return The result is your annualized income. I need to file my 2012 tax return Figure the total tax on your annualized income using the appropriate tax rate schedule. I need to file my 2012 tax return Multiply the total tax by the number of months in the short tax year and divide the result by 12. I need to file my 2012 tax return The result is your tax for the short tax year. I need to file my 2012 tax return Relief procedure. I need to file my 2012 tax return   Individuals and corporations can use a relief procedure to figure the tax for the short tax year. I need to file my 2012 tax return It may result in less tax. I need to file my 2012 tax return Under this procedure, the tax is figured by two separate methods. I need to file my 2012 tax return If the tax figured under both methods is less than the tax figured under the general rule, you can file a claim for a refund of part of the tax you paid. I need to file my 2012 tax return For more information, see section 443(b)(2) of the Internal Revenue Code. I need to file my 2012 tax return Alternative minimum tax. I need to file my 2012 tax return   To figure the alternative minimum tax (AMT) due for a short tax year: Figure the annualized alternative minimum taxable income (AMTI) for the short tax period by completing the following steps. I need to file my 2012 tax return Multiply the AMTI by 12. I need to file my 2012 tax return Divide the result by the number of months in the short tax year. I need to file my 2012 tax return Multiply the annualized AMTI by the appropriate rate of tax under section 55(b)(1) of the Internal Revenue Code. I need to file my 2012 tax return The result is the annualized AMT. I need to file my 2012 tax return Multiply the annualized AMT by the number of months in the short tax year and divide the result by 12. I need to file my 2012 tax return   For information on the AMT for individuals, see the Instructions for Form 6251, Alternative Minimum Tax–Individuals. I need to file my 2012 tax return For information on the AMT for corporations, see the Instructions to Form 4626, Alternative Minimum Tax–Corporations. I need to file my 2012 tax return Tax withheld from wages. I need to file my 2012 tax return   You can claim a credit against your income tax liability for federal income tax withheld from your wages. I need to file my 2012 tax return Federal income tax is withheld on a calendar year basis. I need to file my 2012 tax return The amount withheld in any calendar year is allowed as a credit for the tax year beginning in the calendar year. I need to file my 2012 tax return Improper Tax Year Taxpayers that have adopted an improper tax year must change to a proper tax year. I need to file my 2012 tax return For example, if a taxpayer began business on March 15 and adopted a tax year ending on March 14 (a period of exactly 12 months), this would be an improper tax year. I need to file my 2012 tax return See Accounting Periods, earlier, for a description of permissible tax years. I need to file my 2012 tax return To change to a proper tax year, you must do one of the following. I need to file my 2012 tax return If you are requesting a change to a calendar tax year, file an amended income tax return based on a calendar tax year that corrects the most recently filed tax return that was filed on the basis of an improper tax year. I need to file my 2012 tax return Attach a completed Form 1128 to the amended tax return. I need to file my 2012 tax return Write “FILED UNDER REV. I need to file my 2012 tax return PROC. I need to file my 2012 tax return 85-15” at the top of Form 1128 and file the forms with the Internal Revenue Service Center where you filed your original return. I need to file my 2012 tax return If you are requesting a change to a fiscal tax year, file Form 1128 in accordance with the form instructions to request IRS approval for the change. I need to file my 2012 tax return Change in Tax Year Generally, you must file Form 1128 to request IRS approval to change your tax year. I need to file my 2012 tax return See the Instructions for Form 1128 for exceptions. I need to file my 2012 tax return If you qualify for an automatic approval request, a user fee is not required. I need to file my 2012 tax return Individuals Generally, individuals must adopt the calendar year as their tax year. I need to file my 2012 tax return An individual can adopt a fiscal year provided that the individual maintains his or her books and records on the basis of the adopted fiscal year. I need to file my 2012 tax return Partnerships, S Corporations, and Personal Service Corporations (PSCs) Generally, partnerships, S corporations (including electing S corporations), and PSCs must use a required tax year. I need to file my 2012 tax return A required tax year is a tax year that is required under the Internal Revenue Code and Income Tax Regulations. I need to file my 2012 tax return The entity does not have to use the required tax year if it receives IRS approval to use another permitted tax year or makes an election under section 444 of the Internal Revenue Code (discussed later). I need to file my 2012 tax return The following discussions provide the rules for partnerships, S corporations, and PSCs. I need to file my 2012 tax return Partnership A partnership must conform its tax year to its partners' tax years unless any of the following apply. I need to file my 2012 tax return The partnership makes an election under section 444 of the Internal Revenue Code to have a tax year other than a required tax year by filing Form 8716. I need to file my 2012 tax return The partnership elects to use a 52-53-week tax year that ends with reference to either its required tax year or a tax year elected under section 444. I need to file my 2012 tax return The partnership can establish a business purpose for a different tax year. I need to file my 2012 tax return The rules for the required tax year for partnerships are as follows. I need to file my 2012 tax return If one or more partners having the same tax year own a majority interest (more than 50%) in partnership profits and capital, the partnership must use the tax year of those partners. I need to file my 2012 tax return If there is no majority interest tax year, the partnership must use the tax year of all its principal partners. I need to file my 2012 tax return A principal partner is one who has a 5% or more interest in the profits or capital of the partnership. I need to file my 2012 tax return If there is no majority interest tax year and the principal partners do not have the same tax year, the partnership generally must use a tax year that results in the least aggregate deferral of income to the partners. I need to file my 2012 tax return If a partnership changes to a required tax year because of these rules, it can get automatic approval by filing Form 1128. I need to file my 2012 tax return Least aggregate deferral of income. I need to file my 2012 tax return   The tax year that results in the least aggregate deferral of income is determined as follows. I need to file my 2012 tax return Figure the number of months of deferral for each partner using one partner's tax year. I need to file my 2012 tax return Find the months of deferral by counting the months from the end of that tax year forward to the end of each other partner's tax year. I need to file my 2012 tax return Multiply each partner's months of deferral figured in step (1) by that partner's share of interest in the partnership profits for the year used in step (1). I need to file my 2012 tax return Add the amounts in step (2) to get the aggregate (total) deferral for the tax year used in step (1). I need to file my 2012 tax return Repeat steps (1) through (3) for each partner's tax year that is different from the other partners' years. I need to file my 2012 tax return   The partner's tax year that results in the lowest aggregate (total) number is the tax year that must be used by the partnership. I need to file my 2012 tax return If the calculation results in more than one tax year qualifying as the tax year with the least aggregate deferral, the partnership can choose any one of those tax years as its tax year. I need to file my 2012 tax return However, if one of the tax years that qualifies is the partnership's existing tax year, the partnership must retain that tax year. I need to file my 2012 tax return Example. I need to file my 2012 tax return A and B each have a 50% interest in partnership P, which uses a fiscal year ending June 30. I need to file my 2012 tax return A uses the calendar year and B uses a fiscal year ending November 30. I need to file my 2012 tax return P must change its tax year to a fiscal year ending November 30 because this results in the least aggregate deferral of income to the partners, as shown in the following table. I need to file my 2012 tax return Year End 12/31: Year End Profits Interest Months of Deferral Interest × Deferral A 12/31 0. I need to file my 2012 tax return 5 -0- -0- B 11/30 0. I need to file my 2012 tax return 5 11 5. I need to file my 2012 tax return 5 Total Deferral 5. I need to file my 2012 tax return 5 Year End 11/30: Year End Profits Interest Months of Deferral Interest × Deferral A 12/31 0. I need to file my 2012 tax return 5 1 0. I need to file my 2012 tax return 5 B 11/30 0. I need to file my 2012 tax return 5 -0- -0- Total Deferral 0. I need to file my 2012 tax return 5 When determination is made. I need to file my 2012 tax return   The determination of the tax year under the least aggregate deferral rules must generally be made at the beginning of the partnership's current tax year. I need to file my 2012 tax return However, the IRS can require the partnership to use another day or period that will more accurately reflect the ownership of the partnership. I need to file my 2012 tax return This could occur, for example, if a partnership interest was transferred for the purpose of qualifying for a particular tax year. I need to file my 2012 tax return Short period return. I need to file my 2012 tax return   When a partnership changes its tax year, a short period return must be filed. I need to file my 2012 tax return The short period return covers the months between the end of the partnership's prior tax year and the beginning of its new tax year. I need to file my 2012 tax return   If a partnership changes to the tax year resulting in the least aggregate deferral, it must file a Form 1128 with the short period return showing the computations used to determine that tax year. I need to file my 2012 tax return The short period return must indicate at the top of page 1, “FILED UNDER SECTION 1. I need to file my 2012 tax return 706-1. I need to file my 2012 tax return ” More information. I need to file my 2012 tax return   For more information about changing a partnership's tax year, and information about ruling requests, see the Instructions for Form 1128. I need to file my 2012 tax return S Corporation All S corporations, regardless of when they became an S corporation, must use a permitted tax year. I need to file my 2012 tax return A permitted tax year is any of the following. I need to file my 2012 tax return The calendar year. I need to file my 2012 tax return A tax year elected under section 444 of the Internal Revenue Code. I need to file my 2012 tax return See Section 444 Election, below for details. I need to file my 2012 tax return A 52-53-week tax year ending with reference to the calendar year or a tax year elected under section 444. I need to file my 2012 tax return Any other tax year for which the corporation establishes a business purpose. I need to file my 2012 tax return If an electing S corporation wishes to adopt a tax year other than a calendar year, it must request IRS approval using Form 2553, instead of filing Form 1128. I need to file my 2012 tax return For information about changing an S corporation's tax year and information about ruling requests, see the Instructions for Form 1128. I need to file my 2012 tax return Personal Service Corporation (PSC) A PSC must use a calendar tax year unless any of the following apply. I need to file my 2012 tax return The corporation makes an election under section 444 of the Internal Revenue Code. I need to file my 2012 tax return See Section 444 Election, below for details. I need to file my 2012 tax return The corporation elects to use a 52-53-week tax year ending with reference to the calendar year or a tax year elected under section 444. I need to file my 2012 tax return The corporation establishes a business purpose for a fiscal year. I need to file my 2012 tax return See the Instructions for Form 1120 for general information about PSCs. I need to file my 2012 tax return For information on adopting or changing tax years for PSCs and information about ruling requests, see the Instructions for Form 1128. I need to file my 2012 tax return Section 444 Election A partnership, S corporation, electing S corporation, or PSC can elect under section 444 of the Internal Revenue Code to use a tax year other than its required tax year. I need to file my 2012 tax return Certain restrictions apply to the election. I need to file my 2012 tax return A partnership or an S corporation that makes a section 444 election must make certain required payments and a PSC must make certain distributions (discussed later). I need to file my 2012 tax return The section 444 election does not apply to any partnership, S corporation, or PSC that establishes a business purpose for a different period, explained later. I need to file my 2012 tax return A partnership, S corporation, or PSC can make a section 444 election if it meets all the following requirements. I need to file my 2012 tax return It is not a member of a tiered structure (defined in section 1. I need to file my 2012 tax return 444-2T of the regulations). I need to file my 2012 tax return It has not previously had a section 444 election in effect. I need to file my 2012 tax return It elects a year that meets the deferral period requirement. I need to file my 2012 tax return Deferral period. I need to file my 2012 tax return   The determination of the deferral period depends on whether the partnership, S corporation, or PSC is retaining its tax year or adopting or changing its tax year with a section 444 election. I need to file my 2012 tax return Retaining tax year. I need to file my 2012 tax return   Generally, a partnership, S corporation, or PSC can make a section 444 election to retain its tax year only if the deferral period of the new tax year is 3 months or less. I need to file my 2012 tax return This deferral period is the number of months between the beginning of the retained year and the close of the first required tax year. I need to file my 2012 tax return Adopting or changing tax year. I need to file my 2012 tax return   If the partnership, S corporation, or PSC is adopting or changing to a tax year other than its required year, the deferral period is the number of months from the end of the new tax year to the end of the required tax year. I need to file my 2012 tax return The IRS will allow a section 444 election only if the deferral period of the new tax year is less than the shorter of: Three months, or The deferral period of the tax year being changed. I need to file my 2012 tax return This is the tax year immediately preceding the year for which the partnership, S corporation, or PSC wishes to make the section 444 election. I need to file my 2012 tax return If the partnership, S corporation, or PSC's tax year is the same as its required tax year, the deferral period is zero. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return BD Partnership uses a calendar year, which is also its required tax year. I need to file my 2012 tax return BD cannot make a section 444 election because the deferral period is zero. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return E, a newly formed partnership, began operations on December 1. I need to file my 2012 tax return E is owned by calendar year partners. I need to file my 2012 tax return E wants to make a section 444 election to adopt a September 30 tax year. I need to file my 2012 tax return E's deferral period for the tax year beginning December 1 is 3 months, the number of months between September 30 and December 31. I need to file my 2012 tax return Making the election. I need to file my 2012 tax return   Make a section 444 election by filing Form 8716 with the Internal Revenue Service Center where the entity will file its tax return. I need to file my 2012 tax return Form 8716 must be filed by the earlier of: The due date (not including extensions) of the income tax return for the tax year resulting from the section 444 election, or The 15th day of the 6th month of the tax year for which the election will be effective. I need to file my 2012 tax return For this purpose, count the month in which the tax year begins, even if it begins after the first day of that month. I need to file my 2012 tax return Note. I need to file my 2012 tax return If the due date falls on a Saturday, Sunday, or legal holiday, file on the next business day. I need to file my 2012 tax return   Attach a copy of Form 8716 to Form 1065, Form 1120S, or Form 1120 for the first tax year for which the election is made. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return AB, a partnership, begins operations on September 13, 2012, and is qualified to make a section 444 election to use a September 30 tax year for its tax year beginning September 13, 2012. I need to file my 2012 tax return AB must file Form 8716 by January 15, 2013, which is the due date of the partnership's tax return for the period from September 13, 2012, to September 30, 2012. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return The facts are the same as in Example 1 except that AB begins operations on October 21, 2012. I need to file my 2012 tax return AB must file Form 8716 by March 17, 2013. I need to file my 2012 tax return Example 3. I need to file my 2012 tax return B is a corporation that first becomes a PSC for its tax year beginning September 1, 2012. I need to file my 2012 tax return B qualifies to make a section 444 election to use a September 30 tax year for its tax year beginning September 1, 2012. I need to file my 2012 tax return B must file Form 8716 by December 17, 2012, the due date of the income tax return for the short period from September 1, 2012, to September 30, 2012. I need to file my 2012 tax return Note. I need to file my 2012 tax return The due dates in Examples 2 and 3 are adjusted because the dates fall on a Saturday, Sunday or legal holiday. I need to file my 2012 tax return Extension of time for filing. I need to file my 2012 tax return   There is an automatic extension of 12 months to make this election. I need to file my 2012 tax return See the Form 8716 instructions for more information. I need to file my 2012 tax return Terminating the election. I need to file my 2012 tax return   The section 444 election remains in effect until it is terminated. I need to file my 2012 tax return If the election is terminated, another section 444 election cannot be made for any tax year. I need to file my 2012 tax return   The election ends when any of the following applies to the partnership, S corporation, or PSC. I need to file my 2012 tax return The entity changes to its required tax year. I need to file my 2012 tax return The entity liquidates. I need to file my 2012 tax return The entity becomes a member of a tiered structure. I need to file my 2012 tax return The IRS determines that the entity willfully failed to comply with the required payments or distributions. I need to file my 2012 tax return   The election will also end if either of the following events occur. I need to file my 2012 tax return An S corporation's S election is terminated. I need to file my 2012 tax return However, if the S corporation immediately becomes a PSC, the PSC can continue the section 444 election of the S corporation. I need to file my 2012 tax return A PSC ceases to be a PSC. I need to file my 2012 tax return If the PSC elects to be an S corporation, the S corporation can continue the election of the PSC. I need to file my 2012 tax return Required payment for partnership or S corporation. I need to file my 2012 tax return   A partnership or an S corporation must make a required payment for any tax year: The section 444 election is in effect. I need to file my 2012 tax return The required payment for that year (or any preceding tax year) is more than $500. I need to file my 2012 tax return    This payment represents the value of the tax deferral the owners receive by using a tax year different from the required tax year. I need to file my 2012 tax return   Form 8752, Required Payment or Refund Under Section 7519, must be filed each year the section 444 election is in effect, even if no payment is due. I need to file my 2012 tax return If the required payment is more than $500 (or the required payment for any prior year was more than $500), the payment must be made when Form 8752 is filed. I need to file my 2012 tax return If the required payment is $500 or less and no payment was required in a prior year, Form 8752 must be filed showing a zero amount. I need to file my 2012 tax return Applicable election year. I need to file my 2012 tax return   Any tax year a section 444 election is in effect, including the first year, is called an applicable election year. I need to file my 2012 tax return Form 8752 must be filed and the required payment made (or zero amount reported) by May 15th of the calendar year following the calendar year in which the applicable election year begins. I need to file my 2012 tax return Required distribution for PSC. I need to file my 2012 tax return   A PSC with a section 444 election in effect must distribute certain amounts to employee-owners by December 31 of each applicable year. I need to file my 2012 tax return If it fails to make these distributions, it may be required to defer certain deductions for amounts paid to owner-employees. I need to file my 2012 tax return The amount deferred is treated as paid or incurred in the following tax year. I need to file my 2012 tax return   For information on the minimum distribution, see the instructions for Part I of Schedule H (Form 1120), Section 280H Limitations for a Personal Service Corporation (PSC). I need to file my 2012 tax return Back-up election. I need to file my 2012 tax return   A partnership, S corporation, or PSC can file a back-up section 444 election if it requests (or plans to request) permission to use a business purpose tax year, discussed later. I need to file my 2012 tax return If the request is denied, the back-up section 444 election must be activated (if the partnership, S corporation, or PSC otherwise qualifies). I need to file my 2012 tax return Making back-up election. I need to file my 2012 tax return   The general rules for making a section 444 election, as discussed earlier, apply. I need to file my 2012 tax return When filing Form 8716, type or print “BACK-UP ELECTION” at the top of the form. I need to file my 2012 tax return However, if Form 8716 is filed on or after the date Form 1128 (or Form 2553) is filed, type or print “FORM 1128 (or FORM 2553) BACK-UP ELECTION” at the top of Form 8716. I need to file my 2012 tax return Activating election. I need to file my 2012 tax return   A partnership or S corporation activates its back-up election by filing the return required and making the required payment with Form 8752. I need to file my 2012 tax return The due date for filing Form 8752 and making the payment is the later of the following dates. I need to file my 2012 tax return May 15 of the calendar year following the calendar year in which the applicable election year begins. I need to file my 2012 tax return 60 days after the partnership or S corporation has been notified by the IRS that the business year request has been denied. I need to file my 2012 tax return   A PSC activates its back-up election by filing Form 8716 with its original or amended income tax return for the tax year in which the election is first effective and printing on the top of the income tax return, “ACTIVATING BACK-UP ELECTION. I need to file my 2012 tax return ” 52-53-Week Tax Year A partnership, S corporation, or PSC can use a tax year other than its required tax year if it elects a 52-53-week tax year (discussed earlier) that ends with reference to either its required tax year or a tax year elected under section 444 (discussed earlier). I need to file my 2012 tax return A newly formed partnership, S corporation, or PSC can adopt a 52-53-week tax year ending with reference to either its required tax year or a tax year elected under section 444 without IRS approval. I need to file my 2012 tax return However, if the entity wishes to change to a 52-53-week tax year or change from a 52-53-week tax year that references a particular month to a non-52-53-week tax year that ends on the last day of that month, it must request IRS approval by filing Form 1128. I need to file my 2012 tax return Business Purpose Tax Year A partnership, S corporation, or PSC establishes the business purpose for a tax year by filing Form 1128. I need to file my 2012 tax return See the Instructions for Form 1128 for details. I need to file my 2012 tax return Corporations (Other Than S Corporations and PSCs) A new corporation establishes its tax year when it files its first tax return. I need to file my 2012 tax return A newly reactivated corporation that has been inactive for a number of years is treated as a new taxpayer for the purpose of adopting a tax year. I need to file my 2012 tax return An S corporation or a PSC must use the required tax year rules, discussed earlier, to establish a tax year. I need to file my 2012 tax return Generally, a corporation that wants to change its tax year must obtain approval from the IRS under either the: (a) automatic approval procedures; or (b) ruling request procedures. I need to file my 2012 tax return See the Instructions for Form 1128 for details. I need to file my 2012 tax return Accounting Methods An accounting method is a set of rules used to determine when income and expenses are reported on your tax return. I need to file my 2012 tax return Your accounting method includes not only your overall method of accounting, but also the accounting treatment you use for any material item. I need to file my 2012 tax return You choose an accounting method when you file your first tax return. I need to file my 2012 tax return If you later want to change your accounting method, you must get IRS approval. I need to file my 2012 tax return See Change in Accounting Method, later. I need to file my 2012 tax return No single accounting method is required of all taxpayers. I need to file my 2012 tax return You must use a system that clearly reflects your income and expenses and you must maintain records that will enable you to file a correct return. I need to file my 2012 tax return In addition to your permanent accounting books, you must keep any other records necessary to support the entries on your books and tax returns. I need to file my 2012 tax return You must use the same accounting method from year to year. I need to file my 2012 tax return An accounting method clearly reflects income only if all items of gross income and expenses are treated the same from year to year. I need to file my 2012 tax return If you do not regularly use an accounting method that clearly reflects your income, your income will be refigured under the method that, in the opinion of the IRS, does clearly reflect income. I need to file my 2012 tax return Methods you can use. I need to file my 2012 tax return   In general, you can compute your taxable income under any of the following accounting methods. I need to file my 2012 tax return Cash method. I need to file my 2012 tax return Accrual method. I need to file my 2012 tax return Special methods of accounting for certain items of income and expenses. I need to file my 2012 tax return A hybrid method which combines elements of two or more of the above accounting methods. I need to file my 2012 tax return The cash and accrual methods of accounting are explained later. I need to file my 2012 tax return Special methods. I need to file my 2012 tax return   This publication does not discuss special methods of accounting for certain items of income or expenses. I need to file my 2012 tax return For information on reporting income using one of the long-term contract methods, see section 460 of the Internal Revenue Code and the related regulations. I need to file my 2012 tax return The following publications also discuss special methods of reporting income or expenses. I need to file my 2012 tax return Publication 225, Farmer's Tax Guide. I need to file my 2012 tax return Publication 535, Business Expenses. I need to file my 2012 tax return Publication 537, Installment Sales. I need to file my 2012 tax return Publication 946, How To Depreciate Property. I need to file my 2012 tax return Hybrid method. I need to file my 2012 tax return   Generally, you can use any combination of cash, accrual, and special methods of accounting if the combination clearly reflects your income and you use it consistently. I need to file my 2012 tax return However, the following restrictions apply. I need to file my 2012 tax return If an inventory is necessary to account for your income, you must use an accrual method for purchases and sales. I need to file my 2012 tax return See Exceptions under Inventories, later. I need to file my 2012 tax return Generally, you can use the cash method for all other items of income and expenses. I need to file my 2012 tax return See Inventories, later. I need to file my 2012 tax return If you use the cash method for reporting your income, you must use the cash method for reporting your expenses. I need to file my 2012 tax return If you use an accrual method for reporting your expenses, you must use an accrual method for figuring your income. I need to file my 2012 tax return Any combination that includes the cash method is treated as the cash method for purposes of section 448 of the Internal Revenue Code. I need to file my 2012 tax return Business and personal items. I need to file my 2012 tax return   You can account for business and personal items using different accounting methods. I need to file my 2012 tax return For example, you can determine your business income and expenses under an accrual method, even if you use the cash method to figure personal items. I need to file my 2012 tax return Two or more businesses. I need to file my 2012 tax return   If you operate two or more separate and distinct businesses, you can use a different accounting method for each business. I need to file my 2012 tax return No business is separate and distinct, unless a complete and separate set of books and records is maintained for each business. I need to file my 2012 tax return Note. I need to file my 2012 tax return If you use different accounting methods to create or shift profits or losses between businesses (for example, through inventory adjustments, sales, purchases, or expenses) so that income is not clearly reflected, the businesses will not be considered separate and distinct. I need to file my 2012 tax return Cash Method Most individuals and many small businesses use the cash method of accounting. I need to file my 2012 tax return Generally, if you produce, purchase, or sell merchandise, you must keep an inventory and use an accrual method for sales and purchases of merchandise. I need to file my 2012 tax return See Inventories, later, for exceptions to this rule. I need to file my 2012 tax return Income Under the cash method, you include in your gross income all items of income you actually or constructively receive during the tax year. I need to file my 2012 tax return If you receive property and services, you must include their fair market value (FMV) in income. I need to file my 2012 tax return Constructive receipt. I need to file my 2012 tax return   Income is constructively received when an amount is credited to your account or made available to you without restriction. I need to file my 2012 tax return You need not have possession of it. I need to file my 2012 tax return If you authorize someone to be your agent and receive income for you, you are considered to have received it when your agent receives it. I need to file my 2012 tax return Income is not constructively received if your control of its receipt is subject to substantial restrictions or limitations. I need to file my 2012 tax return Example. I need to file my 2012 tax return You are a calendar year taxpayer. I need to file my 2012 tax return Your bank credited, and made available, interest to your bank account in December 2012. I need to file my 2012 tax return You did not withdraw it or enter it into your books until 2013. I need to file my 2012 tax return You must include the amount in gross income for 2012, the year you constructively received it. I need to file my 2012 tax return You cannot hold checks or postpone taking possession of similar property from one tax year to another to postpone paying tax on the income. I need to file my 2012 tax return You must report the income in the year the property is received or made available to you without restriction. I need to file my 2012 tax return Expenses Under the cash method, generally, you deduct expenses in the tax year in which you actually pay them. I need to file my 2012 tax return This includes business expenses for which you contest liability. I need to file my 2012 tax return However, you may not be able to deduct an expense paid in advance. I need to file my 2012 tax return Instead, you may be required to capitalize certain costs, as explained later under Uniform Capitalization Rules. I need to file my 2012 tax return Expense paid in advance. I need to file my 2012 tax return   An expense you pay in advance is deductible only in the year to which it applies, unless the expense qualifies for the 12-month rule. I need to file my 2012 tax return   Under the 12-month rule, a taxpayer is not required to capitalize amounts paid to create certain rights or benefits for the taxpayer that do not extend beyond the earlier of the following. I need to file my 2012 tax return 12 months after the right or benefit begins, or The end of the tax year after the tax year in which payment is made. I need to file my 2012 tax return   If you have not been applying the general rule (an expense paid in advance is deductible only in the year to which it applies) and/or the 12-month rule to the expenses you paid in advance, you must obtain approval from the IRS before using the general rule and/or the 12-month rule. I need to file my 2012 tax return See Change in Accounting Method, later. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return You are a calendar year taxpayer and pay $3,000 in 2012 for a business insurance policy that is effective for three years (36 months), beginning on July 1, 2012. I need to file my 2012 tax return The general rule that an expense paid in advance is deductible only in the year to which it applies is applicable to this payment because the payment does not qualify for the 12-month rule. I need to file my 2012 tax return Therefore, only $500 (6/36 x $3,000) is deductible in 2012, $1,000 (12/36 x $3,000) is deductible in 2013, $1,000 (12/36 x $3,000) is deductible in 2014, and the remaining $500 is deductible in 2015. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return You are a calendar year taxpayer and pay $10,000 on July 1, 2012, for a business insurance policy that is effective for only one year beginning on July 1, 2012. I need to file my 2012 tax return The 12-month rule applies. I need to file my 2012 tax return Therefore, the full $10,000 is deductible in 2012. I need to file my 2012 tax return Excluded Entities The following entities cannot use the cash method, including any combination of methods that includes the cash method. I need to file my 2012 tax return (See Special rules for farming businesses, later. I need to file my 2012 tax return ) A corporation (other than an S corporation) with average annual gross receipts exceeding $5 million. I need to file my 2012 tax return See Gross receipts test, below. I need to file my 2012 tax return A partnership with a corporation (other than an S corporation) as a partner, and with the partnership having average annual gross receipts exceeding $5 million. I need to file my 2012 tax return See Gross receipts test, below. I need to file my 2012 tax return A tax shelter. I need to file my 2012 tax return Exceptions The following entities are not prohibited from using the cash method of accounting. I need to file my 2012 tax return Any corporation or partnership, other than a tax shelter, that meets the gross receipts test for all tax years after 1985. I need to file my 2012 tax return A qualified personal service corporation (PSC). I need to file my 2012 tax return Gross receipts test. I need to file my 2012 tax return   A corporation or partnership, other than a tax shelter, that meets the gross receipts test can generally use the cash method. I need to file my 2012 tax return A corporation or a partnership meets the test if, for each prior tax year beginning after 1985, its average annual gross receipts are $5 million or less. I need to file my 2012 tax return    An entity's average annual gross receipts for a prior tax year is determined by: Adding the gross receipts for that tax year and the 2 preceding tax years; and Dividing the total by 3. I need to file my 2012 tax return See Gross receipts test for qualifying taxpayers, for more information. I need to file my 2012 tax return Generally, a partnership applies the test at the partnership level. I need to file my 2012 tax return Gross receipts for a short tax year are annualized. I need to file my 2012 tax return Aggregation rules. I need to file my 2012 tax return   Organizations that are members of an affiliated service group or a controlled group of corporations treated as a single employer for tax purposes are required to aggregate their gross receipts to determine whether the gross receipts test is met. I need to file my 2012 tax return Change to accrual method. I need to file my 2012 tax return   A corporation or partnership that fails to meet the gross receipts test for any tax year is prohibited from using the cash method and must change to an accrual method of accounting, effective for the tax year in which the entity fails to meet this test. I need to file my 2012 tax return Special rules for farming businesses. I need to file my 2012 tax return   Generally, a taxpayer engaged in the trade or business of farming is allowed to use the cash method for its farming business. I need to file my 2012 tax return However, certain corporations (other than S corporations) and partnerships that have a partner that is a corporation must use an accrual method for their farming business. I need to file my 2012 tax return For this purpose, farming does not include the operation of a nursery or sod farm or the raising or harvesting of trees (other than fruit and nut trees). I need to file my 2012 tax return   There is an exception to the requirement to use an accrual method for corporations with gross receipts of $1 million or less for each prior tax year after 1975. I need to file my 2012 tax return For family corporations engaged in farming, the exception applies if gross receipts were $25 million or less for each prior tax year after 1985. I need to file my 2012 tax return See chapter 2 of Publication 225, Farmer's Tax Guide, for more information. I need to file my 2012 tax return Qualified PSC. I need to file my 2012 tax return   A PSC that meets the following function and ownership tests can use the cash method. I need to file my 2012 tax return Function test. I need to file my 2012 tax return   A corporation meets the function test if at least 95% of its activities are in the performance of services in the fields of health, veterinary services, law, engineering (including surveying and mapping), architecture, accounting, actuarial science, performing arts, or consulting. I need to file my 2012 tax return Ownership test. I need to file my 2012 tax return   A corporation meets the ownership test if at least 95% of its stock is owned, directly or indirectly, at all times during the year by one or more of the following. I need to file my 2012 tax return Employees performing services for the corporation in a field qualifying under the function test. I need to file my 2012 tax return Retired employees who had performed services in those fields. I need to file my 2012 tax return The estate of an employee described in (1) or (2). I need to file my 2012 tax return Any other person who acquired the stock by reason of the death of an employee referred to in (1) or (2), but only for the 2-year period beginning on the date of death. I need to file my 2012 tax return   Indirect ownership is generally taken into account if the stock is owned indirectly through one or more partnerships, S corporations, or qualified PSCs. I need to file my 2012 tax return Stock owned by one of these entities is considered owned by the entity's owners in proportion to their ownership interest in that entity. I need to file my 2012 tax return Other forms of indirect stock ownership, such as stock owned by family members, are generally not considered when determining if the ownership test is met. I need to file my 2012 tax return   For purposes of the ownership test, a person is not considered an employee of a corporation unless that person performs more than minimal services for the corporation. I need to file my 2012 tax return Change to accrual method. I need to file my 2012 tax return   A corporation that fails to meet the function test for any tax year; or fails to meet the ownership test at any time during any tax year must change to an accrual method of accounting, effective for the year in which the corporation fails to meet either test. I need to file my 2012 tax return A corporation that fails to meet the function test or the ownership test is not treated as a qualified PSC for any part of that tax year. I need to file my 2012 tax return Accrual Method Under the accrual method of accounting, generally you report income in the year it is earned and deduct or capitalize expenses in the year incurred. I need to file my 2012 tax return The purpose of an accrual method of accounting is to match income and expenses in the correct year. I need to file my 2012 tax return Income Generally, you include an amount in gross income for the tax year in which all events that fix your right to receive the income have occurred and you can determine the amount with reasonable accuracy. I need to file my 2012 tax return Under this rule, you report an amount in your gross income on the earliest of the following dates. I need to file my 2012 tax return When you receive payment. I need to file my 2012 tax return When the income amount is due to you. I need to file my 2012 tax return When you earn the income. I need to file my 2012 tax return When title has passed. I need to file my 2012 tax return Estimated income. I need to file my 2012 tax return   If you include a reasonably estimated amount in gross income and later determine the exact amount is different, take the difference into account in the tax year you make that determination. I need to file my 2012 tax return Change in payment schedule. I need to file my 2012 tax return   If you perform services for a basic rate specified in a contract, you must accrue the income at the basic rate, even if you agree to receive payments at a reduced rate. I need to file my 2012 tax return Continue this procedure until you complete the services, then account for the difference. I need to file my 2012 tax return Advance Payment for Services Generally, you report an advance payment for services to be performed in a later tax year as income in the year you receive the payment. I need to file my 2012 tax return However, if you receive an advance payment for services you agree to perform by the end of the next tax year, you can elect to postpone including the advance payment in income until the next tax year. I need to file my 2012 tax return However, you cannot postpone including any payment beyond that tax year. I need to file my 2012 tax return Service agreement. I need to file my 2012 tax return   You can postpone reporting income from an advance payment you receive for a service agreement on property you sell, lease, build, install, or construct. I need to file my 2012 tax return This includes an agreement providing for incidental replacement of parts or materials. I need to file my 2012 tax return However, this applies only if you offer the property without a service agreement in the normal course of business. I need to file my 2012 tax return Postponement not allowed. I need to file my 2012 tax return   Generally, one cannot postpone including an advance payment in income for services if either of the following applies. I need to file my 2012 tax return You are to perform any part of the service after the end of the tax year immediately following the year you receive the advance payment. I need to file my 2012 tax return You are to perform any part of the service at any unspecified future date that may be after the end of the tax year immediately following the year you receive the advance payment. I need to file my 2012 tax return Examples. I need to file my 2012 tax return   In each of the following examples, assume the tax year is a calendar year and that the accrual method of accounting is used. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return You manufacture, sell, and service computers. I need to file my 2012 tax return You received payment in 2012 for a one-year contingent service contract on a computer you sold. I need to file my 2012 tax return You can postpone including in income the part of the payment you did not earn in 2012 if, in the normal course of your business, you offer computers for sale without a contingent service contract. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return You are in the television repair business. I need to file my 2012 tax return You received payments in 2012 for one-year contracts under which you agree to repair or replace certain parts that fail to function properly in television sets manufactured and sold by unrelated parties. I need to file my 2012 tax return You include the payments in gross income as you earn them. I need to file my 2012 tax return Example 3. I need to file my 2012 tax return You own a dance studio. I need to file my 2012 tax return On October 1, 2012, you receive payment for a one-year contract for 48 one-hour lessons beginning on that date. I need to file my 2012 tax return You give eight lessons in 2012. I need to file my 2012 tax return Under this method of including advance payments, you must include one-sixth (8/48) of the payment in income for 2012, and five-sixths (40/48) of the payment in 2013, even if you do not give all the lessons by the end of 2013. I need to file my 2012 tax return Example 4. I need to file my 2012 tax return Assume the same facts as in Example 3, except the payment is for a two-year contract for 96 lessons. I need to file my 2012 tax return You must include the entire payment in income in 2012 since part of the services may be performed after the following year. I need to file my 2012 tax return Guarantee or warranty. I need to file my 2012 tax return   Generally, you cannot postpone reporting income you receive under a guarantee or warranty contract. I need to file my 2012 tax return Prepaid rent. I need to file my 2012 tax return   You cannot postpone reporting income from prepaid rent. I need to file my 2012 tax return Prepaid rent does not include payment for the use of a room or other space when significant service is also provided for the occupant. I need to file my 2012 tax return You provide significant service when you supply space in a hotel, boarding house, tourist home, motor court, motel, or apartment house that furnishes hotel services. I need to file my 2012 tax return Books and records. I need to file my 2012 tax return   Any advance payment you include in gross receipts on your tax return for the year you receive payment must not be less than the payment you include in income for financial reports under the method of accounting used for those reports. I need to file my 2012 tax return Financial reports include reports to shareholders, partners, beneficiaries, and other proprietors for credit purposes and consolidated financial statements. I need to file my 2012 tax return IRS approval. I need to file my 2012 tax return   You must file Form 3115 to obtain IRS approval to change your method of accounting for advance payment for services. I need to file my 2012 tax return Advance Payment for Sales Special rules apply to including income from advance payments on agreements for future sales or other dispositions of goods held primarily for sale to customers in the ordinary course of your trade or business. I need to file my 2012 tax return However, the rules do not apply to a payment (or part of a payment) for services that are not an integral part of the main activities covered under the agreement. I need to file my 2012 tax return An agreement includes a gift certificate that can be redeemed for goods. I need to file my 2012 tax return Amounts due and payable are considered received. I need to file my 2012 tax return How to report payments. I need to file my 2012 tax return   Generally, include an advance payment in income in the year in which you receive it. I need to file my 2012 tax return However, you can use the alternative method, discussed next. I need to file my 2012 tax return Alternative method of reporting. I need to file my 2012 tax return   Under the alternative method, generally include an advance payment in income in the earlier tax year in which you: Include advance payments in gross receipts under the method of accounting you use for tax purposes, or Include any part of advance payments in income for financial reports under the method of accounting used for those reports. I need to file my 2012 tax return Financial reports include reports to shareholders, partners, beneficiaries, and other proprietors for credit purposes and consolidated financial statements. I need to file my 2012 tax return Example 1. I need to file my 2012 tax return You are a retailer. I need to file my 2012 tax return You use an accrual method of accounting and account for the sale of goods when you ship the goods. I need to file my 2012 tax return You use this method for both tax and financial reporting purposes. I need to file my 2012 tax return You can include advance payments in gross receipts for tax purposes in either: (a) the tax year in which you receive the payments; or (b) the tax year in which you ship the goods. I need to file my 2012 tax return However, see Exception for inventory goods, later. I need to file my 2012 tax return Example 2. I need to file my 2012 tax return You are a calendar year taxpayer. I need to file my 2012 tax return You manufacture household furniture and use an accrual method of accounting. I need to file my 2012 tax return Under this method, you accrue income for your financial reports when you ship the furniture. I need to file my 2012 tax return For tax purposes, you do not accrue income until the furniture has been delivered and accepted. I need to file my 2012 tax return In 2012, you received an advance payment of $8,000 for an order of furniture to be manufactured for a total price of $20,000. I need to file my 2012 tax return You shipped the furniture to the customer in December 2012, but it was not delivered and accepted until January 2013. I need to file my 2012 tax return For tax purposes, you include the $8,000 advance payment in gross income for 2012; and include the remaining $12,000 of the contract price in gross income for 2013. I need to file my 2012 tax return Information schedule. I need to file my 2012 tax return   If you use the alternative method of reporting advance payments, you must attach a statement with the following information to your tax return each year. I need to file my 2012 tax return Total advance payments received in the current tax year. I need to file my 2012 tax return Total advance payments received in earlier tax years and not included in income before the current tax year. I need to file my 2012 tax return Total payments received in earlier tax years included in income for the current tax year. I need to file my 2012 tax return Exception for inventory goods. I need to file my 2012 tax return   If you have an agreement to sell goods properly included in inventory, you can postpone including the advance payment in income until the end of the second tax year following the year you receive an advance payment if, on the last day of the tax year, you meet the following requirements. I need to file my 2012 tax return You account for the advance payment under the alternative method (discussed earlier). I need to file my 2012 tax return You have received a substantial advance payment on the agreement (discussed next). I need to file my 2012 tax return You have enough substantially similar goods on hand, or available through your normal source of supply, to satisfy the agreement. I need to file my 2012 tax return These rules also apply to an agreement, such as a gift certificate, that can be satisfied with goods that cannot be identified in the tax year you receive an advance payment. I need to file my 2012 tax return   If you meet these conditions, all advance payments you receive by the end of the second tax year, including payments received in prior years but not reported, must be included in income by the second tax year following the tax year of receipt of substantial advance payments. I need to file my 2012 tax return You must also deduct in that second year all actual or estimated costs for the goods required to satisfy the agreement. I need to file my 2012 tax return If you estimated the cost, you must take into account any difference between the estimate and the actual cost when the goods are delivered. I need to file my 2012 tax return Note. I need to file my 2012 tax return You must report any advance payments you receive after the second year in the year received. I need to file my 2012 tax return No further deferral is allowed. I need to file my 2012 tax return Substantial advance payments. I need to file my 2012 tax return   Under an agreement for a future sale, you have substantial advance payments if, by the end of the tax year, the total advance payments received during that year and preceding tax years are equal to or more than the total costs reasonably estimated to be includible in inventory because of the agreement. I need to file my 2012 tax return Example. I need to file my 2012 tax return You are a calendar year, accrual method taxpayer who accounts for advance payments under the alternative method. I need to file my 2012 tax return In 2008, you entered into a contract for the sale of goods properly includible in your inventory. I need to file my 2012 tax return The total contract price is $50,000 and you estimate that your total inventoriable costs for the goods will be $25,000. I need to file my 2012 tax return You receive the following advance payments under the contract. I need to file my 2012 tax return 2009 $17,500 2010 10,000 2011 7,500 2012 5,000 2013 5,000 2014 5,000 Total contract price $50,000   Your customer asked you to deliver the goods in 2015. I need to file my 2012 tax return In your 2010 closing inventory, you had on hand enough of the type of goods specified in the contract to satisfy the contract. I need to file my 2012 tax return Since the advance payments you had received by the end of 2010 were more than the costs you estimated, the payments are substantial advance payments. I need to file my 2012 tax return   For 2012, include in income all payments you received by the end of 2012, the second tax year following the tax year in which you received substantial advance payments. I need to file my 2012 tax return You must include $40,000 in sales for 2012 (the total amounts received from 2009 through 2012) and include in inventory the cost of the goods (or similar goods) on hand. I need to file my 2012 tax return If no such goods are on hand, then estimate the cost necessary to satisfy the contract. I need to file my 2012 tax return   No further deferral is allowed. I need to file my 2012 tax return You must include in gross income the advance payment you receive each remaining year of the contract. I need to file my 2012 tax return Take into account the difference between any estimated cost of goods sold and the actual cost when you deliver the goods in 2015. I need to file my 2012 tax return IRS approval. I need to file my 2012 tax return   You must file Form 3115 to obtain IRS approval to change your method of accounting for advance payments for sales. I need to file my 2012 tax return Expenses Under an accrual method of accounting, you generally deduct or capitalize a business expense when both the following apply. I need to file my 2012 tax return The all-events test has been met. I need to file my 2012 tax return The test is met when: All events have occurred that fix the fact of liability, and The liability can be determined with reasonable accuracy. I need to file my 2012 tax return Economic performance has occurred. I need to file my 2012 tax return Economic Performance Generally, you cannot deduct or capitalize a business expense until economic performance occurs. I need to file my 2012 tax return If your expense is for property or services provided to you, or for your use of property, economic performance occurs as the property or services are provided or the property is used. I need to file my 2012 tax return If your expense is for property or services you provide to others, economic performance occurs as you provide the property or services. I need to file my 2012 tax return Example. I need to file my 2012 tax return You are a calendar year taxpayer. I need to file my 2012 tax return You buy office supplies in December 2012. I need to file my 2012 tax return You receive the supplies and the bill in December, but you pay the bill in January 2013. I need to file my 2012 tax return You can deduct the expense in 2012 because all events have occurred to fix the liability, the amount of the liability can be determined, and economic performance occurred in 2012. I need to file my 2012 tax return Your office supplies may qualify as a recurring item, discussed later. I need to file my 2012 tax return If so, you can deduct them in 2012, even if the supplies are not delivered until 2013 (when economic performance occurs). I need to file my 2012 tax return Workers' compensation and tort liability. I need to file my 2012 tax return   If you are required to make payments under workers' compensation laws or in satisfaction of any tort liability, economic performance occurs as you make the payments. I need to file my 2012 tax return If you are required to make payments to a special designated settlement fund established by court order for a tort liability, economic performance occurs as you make the payments. I need to file my 2012 tax return Taxes. I need to file my 2012 tax return   Economic performance generally occurs as estimated income tax, property taxes, employment taxes, etc. I need to file my 2012 tax return are paid. I need to file my 2012 tax return However, you can elect to treat taxes as a recurring item, discussed later. I need to file my 2012 tax return You can also elect to ratably accrue real estate taxes. I need to file my 2012 tax return See chapter 5 of Publication 535 for information about real estate taxes. I need to file my 2012 tax return Other liabilities. I need to file my 2012 tax return   Other liabilities for which economic performance occurs as you make payments include liabilities for breach of contract (to the extent of incidental, consequential, and liquidated damages), violation of law, rebates and refunds, awards, prizes, jackpots, insurance, and warranty and service contracts. I need to file my 2012 tax return Interest. I need to file my 2012 tax return   Economic performance occurs with the passage of time (as the borrower uses, and the lender forgoes use of, the lender's money) rather than as payments are made. I need to file my 2012 tax return Compensation for services. I need to file my 2012 tax return   Generally, economic performance occurs as an employee renders service to the employer. I need to file my 2012 tax return However, deductions for compensation or other benefits paid to an employee in a year subsequent to economic performance are subject to the rules governing deferred compensation, deferred benefits, and funded welfare benefit plans. I need to file my 2012 tax return For information on employee benefit programs, see Publication 15-B, Employer's Tax Guide to Fringe Benefits. I need to file my 2012 tax return Vacation pay. I need to file my 2012 tax return   You can take a current deduction for vacation pay earned by your employees if you pay it during the year or, if the amount is vested, within 2½ months after the end of the year. I need to file my 2012 tax return If you pay it later than this, you must deduct it in the year actually paid. I need to file my 2012 tax return An amount is vested if your right to it cannot be nullified or cancelled. I need to file my 2012 tax return Exception for recurring items. I need to file my 2012 tax return   An exception to the economic performance rule allows certain recurring items to be treated as incurred during the tax year even though economic performance has not occurred. I need to file my 2012 tax return The exception applies if all the following requirements are met. I need to file my 2012 tax return The all-events test, discussed earlier, is met. I need to file my 2012 tax return Economic performance occurs by the earlier of the following dates. I need to file my 2012 tax return 8½ months after the close of the year. I need to file my 2012 tax return The date you file a timely return (including extensions) for the year. I need to file my 2012 tax return The item is recurring in nature and you consistently treat similar items as incurred in the tax year in which the all-events test is met. I need to file my 2012 tax return Either: The item is not material, or Accruing the item in the year in which the all-events test is met results in a better match against income than accruing the item in the year of economic performance. I need to file my 2012 tax return This exception does not apply to workers' compensation or tort liabilities. I need to file my 2012 tax return Amended return. I need to file my 2012 tax return   You may be able to file an amended return and treat a liability as incurred under the recurring item exception. I need to file my 2012 tax return You can do so if economic performance for the liability occurs after you file your tax return for the year, but within 8½ months after the close of the tax year. I need to file my 2012 tax return Recurrence and consistency. I need to file my 2012 tax return   To determine whether an item is recurring and consistently reported, consider the frequency with which the item and similar items are incurred (or expected to be incurred) and how you report these items for tax purposes. I need to file my 2012 tax return A new expense or an expense not incurred every year can be treated as recurring if it is reasonable to expect that it will be incurred regularly in the future. I need to file my 2012 tax return Materiality. I need to file my 2012 tax return   Factors to consider in determining the materiality of a recurring item include the size of the item (both in absolute terms and in relation to your income and other expenses) and the treatment of the item on your financial statements. I need to file my 2012 tax return   An item considered material for financial statement purposes is also considered material for tax purposes. I need to file my 2012 tax return However, in certain situations an immaterial item for financial accounting purposes is treated as material for purposes of economic performance. I need to file my 2012 tax return Matching expenses with income. I need to file my 2012 tax return   Costs directly associated with the revenue of a period are properly allocable to that period. I need to file my 2012 tax return To determine whether the accrual of an expense in a particular year results in a better match with the income to which it relates, generally accepted accounting principles (GAAP; visit www. I need to file my 2012 tax return fasab. I need to file my 2012 tax return gov/accepted. I need to file my 2012 tax return html) are an important factor. I need to file my 2012 tax return   For example, if you report sales income in the year of sale, but you do not ship the goods until the following year, the shipping costs are more properly matched to income in the year of sale than the year the goods are shipped. I need to file my 2012 tax return Expenses that cannot be practically associated with income of a particular period, such as advertising costs, should be assigned to the period the costs are incurred. I need to file my 2012 tax return However, the matching requirement is considered met for certain types of expenses. I need to file my 2012 tax return These expenses include taxes, payments under insurance, warranty, and service contracts, rebates, refunds, awards, prizes, and jackpots. I need to file my 2012 tax return Expenses Paid in Advance An expense you pay in advance is deductible only in the year to which it applies, unless the expense qualifies for the 12-month rule. I need to file my 2012 tax return Under the 12-month rule, a taxpayer is not required to capitalize amounts paid to create certain rights or benefits for the taxpayer that do not extend beyond the earlier of the following. I need to file my 2012 tax return 12 months after the right or benefit begins, or The end of the tax year after the tax year in which payment is made. I need to file my 2012 tax return If you have not been applying the general rule (an expense paid in advance is deductible only in the year to which it applies) and/or the 12-month rule to the expenses you paid in advance, you must get IRS approval before using the general rule and/or the 12-month rule. I need to file my 2012 tax return See Change in Accounting Method, later, for information on how to get IRS approval. I need to file my 2012 tax return See Expense paid in advance under Cash Method, earlier, for examples illustrating the application of the general and 12-month rules. I need to file my 2012 tax return Related Persons Business expenses and interest owed to a related person who uses the cash method of accounting are not deductible until you make the payment and the corresponding amount is includible in the related person's gross income. I need to file my 2012 tax return Determine the relationship for this rule as of the end of the tax year for which the expense or interest would otherwise be deductible. I need to file my 2012 tax return See section 267 of the Internal Revenue Code and Publication 542, Corporations, for the definition of related person. I need to file my 2012 tax return Inventories An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor. I need to file my 2012 tax return If you must account for an inventory in your business, you must use an accrual method of accounting for your purchases and sales. I need to file my 2012 tax return However, see Exceptions, next. I need to file my 2012 tax return See also Accrual Method, earlier. I need to file my 2012 tax return To figure taxable income, you must value your inventory at the beginning and end of each tax year. I need to file my 2012 tax return To determine the value, you need a method for identifying the items in your inventory and a method for valuing these items. I need to file my 2012 tax return See Identifying Cost and Valuing Inventory, later. I need to file my 2012 tax return The rules for valuing inventory are not the same for all businesses. I need to file my 2012 tax return The method you use must conform to generally accepted accounting principles for similar businesses and must clearly reflect income. I need to file my 2012 tax return Your inventory practices must be consistent from year to year. I need to file my 2012 tax return The rules discussed here apply only if they do not conflict with the uniform capitalization rules of section 263A and the mark-to-market rules of section 475. I need to file my 2012 tax return Exceptions The following taxpayers can use the cash method of accounting even if they produce, purchase, or sell merchandise. I need to file my 2012 tax return These taxpayers can also account for inventoriable items as materials and supplies that are not incidental (discussed later). I need to file my 2012 tax return A qualifying taxpayer under Revenue Procedure 2001-10 on page 272 of Internal Revenue Bulletin 2001-2, available at www. I need to file my 2012 tax return irs. I need to file my 2012 tax return gov/pub/irs-irbs/irb01–02. I need to file my 2012 tax return pdf. I need to file my 2012 tax return A qualifying small business taxpayer under Revenue Procedure 2002-28, on page 815 of Internal Revenue Bulletin 2002-18, available at www. I need to file my 2012 tax return irs. I need to file my 2012 tax return gov/pub/irs-irbs/irb02–18. I need to file my 2012 tax return pdf. I need to file my 2012 tax return In addition to the information provided in this publication, you should see the revenue procedures referenced in the list, above, and the instructions for Form 3115 for information you will need to adopt or change to these accounting methods (see Changing methods, later). I need to file my 2012 tax return Qualifying taxpayer. I need to file my 2012 tax return   You are a qualifying taxpayer under Revenue Procedure 2001-10 only if: You satisfy the gross receipts test for each prior tax year ending on or after December 17, 1998 (see Gross receipts test for qualifying taxpayers, next). I need to file my 2012 tax return Your average annual gross receipts for each test year (explained in Step 1, listed next) must be $1 million or less. I need to file my 2012 tax return You are not a tax shelter as defined under section 448(d)(3) of the Internal Revenue Code. I need to file my 2012 tax return Gross receipts test for qualifying taxpayers. I need to file my 2012 tax return   To determine if you meet the gross receipts test for qualifying taxpayers, use the following steps: Step 1. I need to file my 2012 tax return List each of the test years. I need to file my 2012 tax return For qualifying taxpayers under Revenue Procedure 2001-10, the test years are each prior tax year ending on or after December 17, 1998. I need to file my 2012 tax return Step 2. I need to file my 2012 tax return Determine your average annual gross receipts for each test year listed in Step 1. I need to file my 2012 tax return Your average annual gross receipts for a tax year is determined by adding the gross receipts for that tax year and the 2 preceding tax years and dividing the total by 3. I need to file my 2012 tax return Step 3. I need to file my 2012 tax return You meet the gross receipts test for qualifying taxpayers if your average annual gross receipts for each test year listed in Step 1 is $1 million or less. I need to file my 2012 tax return Qualifying small business taxpayer. I need to file my 2012 tax return   You are a qualifying small business taxpayer under Revenue Procedure 2002-28 only if: You satisfy the gross receipts test for each prior tax year ending on or after December 31, 2000 (see Gross receipts test for qualifying small business taxpayers, next). I need to file my 2012 tax return Your average annual gross receipts for each test year (explained in Step 1, listed next) must be $10 million or less. I need to file my 2012 tax return You are not prohibited from using the cash method under section 448 of the Internal Revenue Code. I need to file my 2012 tax return Your principle business activity is an eligible business. I need to file my 2012 tax return See Eligible business, later. I need to file my 2012 tax return You have not changed (or have not been required to change) from the cash method because you became ineligible to use the cash method under Revenue Procedure 2002-28. I need to file my 2012 tax return Note. I need to file my 2012 tax return Revenue Procedure 2002-28 does not apply to a farming business of a qualifying small business taxpayer. I need to file my 2012 tax return A taxpayer engaged in the trade or business of farming generally is allowed to use the cash method for any farming business. I need to file my 2012 tax return See Special rules for farming businesses under Cash Method, earlier. I need to file my 2012 tax return Gross receipts test for qualifying small business taxpayers. I need to file my 2012 tax return   To determine if you meet the gross receipts test for qualifying small business taxpayers, use the following steps: Step 1. I need to file my 2012 tax return List each of the test years. I need to file my 2012 tax return For qualifying small business taxpayers under Revenue Procedure 2002-28, the test years are each prior tax year ending on or after December 31, 2000. I need to file my 2012 tax return Step 2. I need to file my 2012 tax return Determine your average annual gross receipts for each test year listed in Step 1. I need to file my 2012 tax return Your average annual gross receipts for a tax year is determined by adding the gross receipts for that tax year and the 2 preceding tax years and dividing the total by 3. I need to file my 2012 tax return Step 3. I need to file my 2012 tax return You meet the gross receipts test for qualifying small business taxpayers if your average annual gross receipts for each test year listed in Step 1 is $10 million or less. I need to file my 2012 tax return Eligible business. I need to file my 2012 tax return   An eligible business is any business for which a qualified small business taxpayer can use the cash method and choose to not keep an inventory. I need to file my 2012 tax return You have an eligible business if you meet any of the following requirements. I need to file my 2012 tax return Your principal business activity is described in a North American Industry Classification System (NAICS) code other than any of the following NAICS subsector codes: NAICS codes 211 and 212 (mining activities). I need to file my 2012 tax return NAICS codes 31-33 (manufacturing). I need to file my 2012 tax return NAICS code 42 (wholesale trade). I need to file my 2012 tax return NAICS codes 44-45 (retail trade). I need to file my 2012 tax return NAICS codes 5111 and 5122 (information industries). I need to file my 2012 tax return Your principal business activity is the provision of services, including the provision of property incident to those services. I need to file my 2012 tax return Your principal business activity is the fabrication or modification of tangible personal property upon demand in accordance with customer design or specifications. I need to file my 2012 tax return   Information about the NAICS codes can be found at http://www. I need to file my 2012 tax return census. I need to file my 2012 tax return gov/naics or in the instructions for your federal income tax return. I need to file my 2012 tax return Gross receipts. I need to file my 2012 tax return   In general, gross receipts must include all receipts from all your trades or businesses that must be recognized under the method of accounting you used for that tax year for federal income tax purposes. I need to file my 2012 tax return See the definit
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Forms you can use

Forms Available for Filing Season 2014 (TY 2013)
Form Number Form Name Available
Form 1040 U.S. Individual Income Tax Return

1/31/2014

Form 1040A U.S. Individual Income Tax Return

1/31/2014

Form 1040EZ Income Tax Return for Single and Joint Filers With No Dependents

1/31/2014

Form 1040V Payment Voucher

1/31/2014

Form 1040ES Estimated Tax Payments

2/13/2014

Schedule A Itemized Deductions

1/31/2014

Schedule B Interest and Ordinary Dividends

1/31/2014

Schedule C Profit or Loss From Business

1/31/2014

Schedule C-EZ Net Profit from Business

1/31/2014

Schedule D Capital Gains and Losses

1/31/2014

Schedule E Supplemental Income and Loss

1/31/2014

Schedule EIC Earned Income Credit

1/31/2014

Schedule F Profit or Loss From Farming

1/31/2014

Schedule H Household Employment Taxes

1/31/2014

Schedule J Farm Income Averaging

1/31/2014

Schedule L Standard Deduction for Certain Filers

1/31/2014

Schedule R Credit for the Elderly or the Disabled

1/31/2014

Schedule SE Self-Employment Tax

1/31/2014

Form 1116 Foreign Tax Credit

1/31/2014

Form 1310 Statement of Person Claiming Refund Due of a Deceased Taxpayer

1/31/2014

Form 2106 Employee Business Expenses

1/31/2014

Form 2106EZ Unreimbursed Employee Business Expenses

1/31/2014

Form 2120 Multiple Support Declaration

1/31/2014

Form 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts

1/31/2014

Form 2210F Underpayment of Estimated Tax by Farmers and Fishermen

2/13/2014

Form 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains

1/31/2014

Form 2441 Child and Dependent Care Expenses

1/31/2014

Form 2555 Form 2555 Foreign Earned Income

1/31/2014

Form 2555EZ Form 2555EZ Foreign Earned Income Exclusion

1/31/2014

Form 3468 Investment Credit

1/31/2014

Form 3800 General Business Credit

1/31/2014

Form 3903 Moving Expenses

1/31/2014

Form 4136 Credit for Federal Tax Paid on Fuels

1/31/2014

Form 4137 Social Security and Medicare Tax on Unreported Tip Income

1/31/2014

Form 4255 Recapture of Investment Credit

1/31/2014

Form 4562 Depreciation and Amortization (Including Information on Listed Property)

1/31/2014

Form 4684 Casualties and Thefts

1/31/2014

Form 4797 Sales of Business Property

1/31/2014

Form 4835 Farm Rental Income and Expenses

1/31/2014

Form 4868 Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (Can print and mail now)

E-file on 3/5/14

Form 4952 Investment Interest Expense Deduction

1/31/2014

Form 4972 Tax on Lump Sum Distributions

1/31/2014

Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts

1/31/2014

Form 5405 First-Time Homebuyer Credit (Only Page 2, Part IV of the Form, Repayment of Credit may be e-filed)

1/31/2014

Form 5695 Residential Energy Credits

1/31/2014

Form 5884 Work Opportunity Credit

1/31/2014

Form 6198 At-Risk Limitations

1/31/2014

Form 6251 Alternative Minimum Tax-Individuals

1/31/2014

Form 6252 Installment Sale Income

1/31/2014

Form 6478 Credit for Alcohol Used as Fuel

1/31/2014

Form 6765 Credit for Increasing Research Activities

1/31/2014

Form 6781 Gains and Losses from Section 1256 Contracts & Straddles

1/31/2014

Form 8082 Notice of Inconsistent Treatment or Administrative Adjustment Request

1/31/2014

Form 8275 Disclosure Statement

1/31/2014

Form 8275R Regulation Disclosure Statement

1/31/2014

Form 8283 Noncash Charitable Contribution

1/31/2014

Form 8379 Injured Spouse Allocation

1/31/2014

Form 8396 Mortgage Interest Credit

1/31/2014

Form 8453 U.S. Individual Income Tax Transmittal for an IRS e-file Return (This form that can't be e-filed, must be mailed in)

2/27/2014

Form 8582 Passive Activity Loss Limitations

1/31/2014

Form 8582-CR Passive Activity Credit Limitations

1/31/2014

Form 8586 Low-Income Housing Credit

1/31/2014

Form 8594 Asset Acquisition Statement

1/31/2014

Form 8606 Nondeductible IRAs

1/31/2014

Form 8609A Annual Statement for Low-Income Housing Credit

1/31/2014

Form 8611 Recapture of Low-income Housing Credit

1/31/2014

Form 8615 Tax for Children Under Age 18/24 With Investment Income of More Than $1,800

1/31/2014

Form 8689 Allocation of Individual Income Tax to the US Virgin Islands

1/31/2014

Form 8697 Interest Computation Under the Look-Back Method for Completed Long-Term Contracts

1/31/2014

Form 8801 Credit for Prior Year Minimum Tax - Individuals, Estates and Trusts

1/31/2014

Form 8812 Additional Child Tax Credit

1/31/2014

Form 8814 Parents' Election To Report Child's Interest and Dividends

1/31/2014

Form 8815 Exclusion of Interest From Series EE US Savings Bonds Issued After 1989

1/31/2014

Form 8820 Orphan Drug Credit

1/31/2014

Form 8824 Like-Kind Exchanges

1/31/2014

Form 8826 Disabled Access Credit

1/31/2014

Form 8828 Recapture of Federal Mortgage Subsidy

1/31/2014

Form 8829 Expenses for Business Use of Your Home

1/31/2014

Form 8833 Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b)

1/31/2014

Form 8834 Qualified Electric Vehicle Credit

1/31/2014

Form 8839 Qualified Adoption Expense

1/31/2014

Form 8844 Empowerment Zone and Renewal Community Employment Credit

1/31/2014

Form 8845 Indian Employment Credit

1/31/2014

Form 8846 Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips

1/31/2014

Form 8847 Credit for Contributions to Selected Community Development Corporations

1/31/2014

Form 8853 Archer MSAs and Long-Term Care Insurance Contracts

1/31/2014

Form 8859 District of Columbia First-Time Homebuyer Credit

2/13/2014

Form 8862 Information To Claim Earned Income Credit After Disallowance

1/31/2014

Form 8863 Education Credits (Hope and Lifetime Learning Credits)

1/31/2014

Form 8864 Biodiesel and Renewable Diesel Fuels Credit

1/31/2014

Form 8874 New Markets Credit

1/31/2014

Form 8880 Credit for Qualified Retirement Savings Contributions

1/31/2014

Form 8881 Credit for Small Employer Pension Plan Startup Costs

1/31/2014

Form 8882 Credit for Employer - Provided ChildCare Facilities and Services

1/31/2014

Form 8885 Health Coverage Tax Credit

1/31/2014

Form 8886 Reportable Transaction Disclosure Statement

1/31/2014

Form 8888 Direct Deposit of Refund to more than 1 account

1/31/2014

Form 8889 Health Savings Accounts (HSAs)

1/31/2014

Form 8891 US Information Return for Beneficiary of Certain Canadian Registered Retirement Plans

1/31/2014

Form 8903 Domestic Production Activities Deduction

1/31/2014

Form 8906 Distilled Spirits Credit

1/31/2014

Form 8907 Nonconventional Source Fuel Credit

1/31/2014

Form 8908 Energy Efficient Home Credit

1/31/2014

Form 8909 Energy Efficient Appliance Credit

1/31/2014

Form 8910 Alternate Motor Vehicle Credit

1/31/2014

Form 8911 Alternate Fuel Vehicle Refueling Credit

1/31/2014

Form 8915 Qualified Hurricane Katrina Retirement Plan Dists and Repayments

1/31/2014

Form 8917 Tuition and Fees Deduction

1/31/2014

Form 8919 Uncollected Social Security and Medicare Tax on Wages

1/31/2014

Form 8930 Midwestern Disaster Area Distributions

1/31/2014

Form 8931 Agricultural Chemicals Security Credit

1/31/2014

Form 8932 Credit for Employer Differential Wage Payments

1/31/2014

Form 8933 Carbon Dioxide Sequestration Credit

1/31/2014

Form 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit

2/13/2014

Form 8941 Credit for Small Employer Health Insurance Premiums

1/31/2014

Form 8949 Sales and other Dispositions of Capital Assets

1/31/2014

Form 8959 Additional Medicare Tax

2/13/2014

Form 8960 Net Investment Income Tax - Individuals, Estates and Trusts

2/13/2014

Form 9465 Installment Agreement Request

1/31/2014

Form 982 Reduction of Tax Attributes Due to Discharge of Indebtedness (And Section 1082 Basis Adjustment)

1/31/2014

     

 

 

 

Page Last Reviewed or Updated: 04-Mar-2014

The I Need To File My 2012 Tax Return

I need to file my 2012 tax return Index A Affected taxpayer, Affected taxpayer. I need to file my 2012 tax return B Book inventories, charitable deduction for, Charitable Deduction for Contributions of Book Inventories to Public Schools C Cancellation of indebtedness, Exclusion of Certain Cancellations of Indebtedness by Reason of Hurricane Katrina Casualty and theft losses, Casualty and Theft Losses Charitable contributions, Temporary Suspension of Limits on Charitable Contributions Charitable deduction: Book inventory, Charitable Deduction for Contributions of Book Inventories to Public Schools Food inventory, Charitable Deduction for Contributions of Food Inventory Child tax credit, Earned Income Credit and Child Tax Credit Clean-up costs, Demolition and Clean-up Costs Copy of tax return, request for, Request for copy of tax return. I need to file my 2012 tax return Core disaster area, Gulf Opportunity (GO) Zone (Core Disaster Area) Covered disaster area: Katrina, Katrina Covered Disaster Area Rita, Hurricane Rita Disaster Area (Rita Covered Disaster Area) Wilma, Wilma Covered Disaster Area Credits: Child tax, Earned Income Credit and Child Tax Credit Earned income, Earned Income Credit and Child Tax Credit Education, Education Credits Employee retention, Employee Retention Credit Hurricane Katrina housing, Hurricane Katrina Housing Credit Rehabilitation tax, Increase in Rehabilitation Tax Credit Work opportunity, Work Opportunity Credit D Deadlines, extended, Extended Tax Deadlines Demolition costs, Demolition and Clean-up Costs Depreciation: Qualified GO Zone property, Qualified GO Zone property. I need to file my 2012 tax return Special allowance, Special Depreciation Allowance Disaster area: Hurricane Katrina, Hurricane Katrina Disaster Area Hurricane Rita, Hurricane Rita Disaster Area (Rita Covered Disaster Area) Hurricane Wilma, Hurricane Wilma Disaster Area Distributions: Home purchase or construction, Repayment of Qualified Distributions for the Purchase or Construction of a Main Home Qualified hurricane, Qualified hurricane distribution. I need to file my 2012 tax return Repayment of, Repayment of Qualified Hurricane Distributions Taxation of, Taxation of Qualified Hurricane Distributions E Earned income credit, Earned Income Credit and Child Tax Credit Education credits, Education Credits Eligible retirement plan, Eligible retirement plan. I need to file my 2012 tax return Employee retention credit, Employee Retention Credit Exemption, additional for housing, Additional Exemption for Housing Individuals Displaced by Hurricane Katrina F Federal mortgage subsidy, recapture of, Recapture of Federal Mortgage Subsidy Food inventory, charitable deduction for, Charitable Deduction for Contributions of Food Inventory G Gulf Opportunity (GO) Zone, Gulf Opportunity (GO) Zone (Core Disaster Area) H Help: How to get, How To Get Tax Help Phone number, How To Get Tax Help Special IRS assistance, How To Get Tax Help Website, How To Get Tax Help Hope credit (see Education credits) Hurricane Katrina disaster area, Hurricane Katrina Disaster Area Hurricane Katrina housing credit, Hurricane Katrina Housing Credit Hurricane Rita disaster area, Hurricane Rita Disaster Area (Rita Covered Disaster Area) Hurricane Wilma disaster area, Hurricane Wilma Disaster Area I Involuntary conversion (see Replacement period for nonrecognition of gain) IRAs and other retirement plans, IRAs and Other Retirement Plans L Lifetime learning credit (see Education credits) M Mileage reimbursements, charitable volunteers, Mileage Reimbursements to Charitable Volunteers N Net operating losses, Net Operating Losses Q Qualified GO Zone loss, Qualified GO Zone loss. I need to file my 2012 tax return Qualified hurricane distribution, Qualified hurricane distribution. I need to file my 2012 tax return R Reforestation costs, Reforestation Costs Rehabilitation tax credit, Increase in Rehabilitation Tax Credit Relocation, temporary, Tax Relief for Temporary Relocation Replacement period for nonrecognition of gain, Replacement Period for Nonrecognition of Gain Retirement plan, eligible, Eligible retirement plan. I need to file my 2012 tax return Retirement plans, IRAs and Other Retirement Plans Rita GO Zone, Rita GO Zone S Section 179 deduction, Increased Section 179 Deduction Standard mileage rate, charitable use, Standard Mileage Rate for Charitable Use of Vehicles T Tax return: Request for copy, Request for copy of tax return. I need to file my 2012 tax return Request for transcript, Request for transcript of tax return. I need to file my 2012 tax return Taxpayer Advocate, Contacting your Taxpayer Advocate. I need to file my 2012 tax return Temporary relocation, Tax Relief for Temporary Relocation Theft losses, Casualty and Theft Losses Timber: 5-year NOL carryback, 5-year NOL carryback of certain timber losses. I need to file my 2012 tax return Reforestation costs, Reforestation Costs Transcript of tax return, request for, Request for transcript of tax return. I need to file my 2012 tax return W Wilma GO Zone, Wilma GO Zone Work opportunity credit, Work Opportunity Credit Prev  Up     Home   More Online Publications