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Tax Amendment Form 1040x

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Tax Amendment Form 1040x

Tax amendment form 1040x 4. Tax amendment form 1040x   Tax Withholding and Estimated Tax Table of Contents What's New for 2014 Reminders Introduction Useful Items - You may want to see: Tax Withholding for 2014Salaries and Wages Tips Taxable Fringe Benefits Sick Pay Pensions and Annuities Gambling Winnings Unemployment Compensation Federal Payments Backup Withholding Estimated Tax for 2014Who Does Not Have To Pay Estimated Tax Who Must Pay Estimated Tax How To Figure Estimated Tax When To Pay Estimated Tax How To Figure Each Payment How To Pay Estimated Tax Credit for Withholding and Estimated Tax for 2013Withholding Estimated Tax Underpayment Penalty for 2013 What's New for 2014 Tax law changes for 2014. Tax amendment form 1040x  When you figure how much income tax you want withheld from your pay and when you figure your estimated tax, consider tax law changes effective in 2014. Tax amendment form 1040x For more information, see Publication 505. Tax amendment form 1040x Reminders Estimated tax safe harbor for higher income taxpayers. Tax amendment form 1040x  If your 2013 adjusted gross income was more than $150,000 ($75,000 if you are married filing a separate return), you must pay the smaller of 90% of your expected tax for 2014 or 110% of the tax shown on your 2013 return to avoid an estimated tax penalty. Tax amendment form 1040x Introduction This chapter discusses how to pay your tax as you earn or receive income during the year. Tax amendment form 1040x In general, the federal income tax is a pay-as-you-go tax. Tax amendment form 1040x There are two ways to pay as you go. Tax amendment form 1040x Withholding. Tax amendment form 1040x If you are an employee, your employer probably withholds income tax from your pay. Tax amendment form 1040x Tax also may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. Tax amendment form 1040x The amount withheld is paid to the IRS in your name. Tax amendment form 1040x Estimated tax. Tax amendment form 1040x If you do not pay your tax through withholding, or do not pay enough tax that way, you may have to pay estimated tax. Tax amendment form 1040x People who are in business for themselves generally will have to pay their tax this way. Tax amendment form 1040x Also, you may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rent, and royalties. Tax amendment form 1040x Estimated tax is used to pay not only income tax, but self-employment tax and alternative minimum tax as well. Tax amendment form 1040x This chapter explains these methods. Tax amendment form 1040x In addition, it also explains the following. Tax amendment form 1040x Credit for withholding and estimated tax. Tax amendment form 1040x When you file your 2013 income tax return, take credit for all the income tax withheld from your salary, wages, pensions, etc. Tax amendment form 1040x , and for the estimated tax you paid for 2013. Tax amendment form 1040x Also take credit for any excess social security or railroad retirement tax withheld (discussed in chapter 37). Tax amendment form 1040x Underpayment penalty. Tax amendment form 1040x If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. Tax amendment form 1040x In most cases, the IRS can figure this penalty for you. Tax amendment form 1040x See Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) W-4 Employee's Withholding Allowance Certificate W-4P Withholding Certificate for Pension or Annuity Payments W-4S Request for Federal Income Tax Withholding From Sick Pay W-4V Voluntary Withholding Request 1040-ES Estimated Tax for Individuals 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen Tax Withholding for 2014 This section discusses income tax withholding on: Salaries and wages, Tips, Taxable fringe benefits, Sick pay, Pensions and annuities, Gambling winnings, Unemployment compensation, and Certain federal payments. Tax amendment form 1040x This section explains the rules for withholding tax from each of these types of income. Tax amendment form 1040x This section also covers backup withholding on interest, dividends, and other payments. Tax amendment form 1040x Salaries and Wages Income tax is withheld from the pay of most employees. Tax amendment form 1040x Your pay includes your regular pay, bonuses, commissions, and vacation allowances. Tax amendment form 1040x It also includes reimbursements and other expense allowances paid under a nonaccountable plan. Tax amendment form 1040x See Supplemental Wages , later, for more information about reimbursements and allowances paid under a nonaccountable plan. Tax amendment form 1040x If your income is low enough that you will not have to pay income tax for the year, you may be exempt from withholding. Tax amendment form 1040x This is explained under Exemption From Withholding , later. Tax amendment form 1040x You can ask your employer to withhold income tax from noncash wages and other wages not subject to withholding. Tax amendment form 1040x If your employer does not agree to withhold tax, or if not enough is withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Tax amendment form 1040x Military retirees. Tax amendment form 1040x   Military retirement pay is treated in the same manner as regular pay for income tax withholding purposes, even though it is treated as a pension or annuity for other tax purposes. Tax amendment form 1040x Household workers. Tax amendment form 1040x   If you are a household worker, you can ask your employer to withhold income tax from your pay. Tax amendment form 1040x A household worker is an employee who performs household work in a private home, local college club, or local fraternity or sorority chapter. Tax amendment form 1040x   Tax is withheld only if you want it withheld and your employer agrees to withhold it. Tax amendment form 1040x If you do not have enough income tax withheld, you may have to pay estimated tax, as discussed later under Estimated Tax for 2014 . Tax amendment form 1040x Farmworkers. Tax amendment form 1040x   Generally, income tax is withheld from your cash wages for work on a farm unless your employer does both of these: Pays you cash wages of less than $150 during the year, and Has expenditures for agricultural labor totaling less than $2,500 during the year. Tax amendment form 1040x Differential wage payments. Tax amendment form 1040x    When employees are on leave from employment for military duty, some employers make up the difference between the military pay and civilian pay. Tax amendment form 1040x Payments to an employee who is on active duty for a period of more than 30 days will be subject to income tax withholding, but not subject to social security or Medicare taxes. Tax amendment form 1040x The wages and withholding will be reported on Form W-2, Wage and Tax Statement. Tax amendment form 1040x   The credit employers can claim for differential wages paid to activated military reservists is scheduled to expire for wages paid after December 31, 2013. Tax amendment form 1040x Determining Amount of Tax Withheld Using Form W-4 The amount of income tax your employer withholds from your regular pay depends on two things. Tax amendment form 1040x The amount you earn in each payroll period. Tax amendment form 1040x The information you give your employer on Form W-4. Tax amendment form 1040x Form W-4 includes four types of information that your employer will use to figure your withholding. Tax amendment form 1040x Whether to withhold at the single rate or at the lower married rate. Tax amendment form 1040x How many withholding allowances you claim (each allowance reduces the amount withheld). Tax amendment form 1040x Whether you want an additional amount withheld. Tax amendment form 1040x Whether you are claiming an exemption from withholding in 2014. Tax amendment form 1040x See Exemption From Withholding , later. Tax amendment form 1040x Note. Tax amendment form 1040x You must specify a filing status and a number of withholding allowances on Form W-4. Tax amendment form 1040x You cannot specify only a dollar amount of withholding. Tax amendment form 1040x New Job When you start a new job, you must fill out Form W-4 and give it to your employer. Tax amendment form 1040x Your employer should have copies of the form. Tax amendment form 1040x If you need to change the information later, you must fill out a new form. Tax amendment form 1040x If you work only part of the year (for example, you start working after the beginning of the year), too much tax may be withheld. Tax amendment form 1040x You may be able to avoid overwithholding if your employer agrees to use the part-year method. Tax amendment form 1040x See Part-Year Method in chapter 1 of Publication 505 for more information. Tax amendment form 1040x Employee also receiving pension income. Tax amendment form 1040x   If you receive pension or annuity income and begin a new job, you will need to file Form W-4 with your new employer. Tax amendment form 1040x However, you can choose to split your withholding allowances between your pension and job in any manner. Tax amendment form 1040x Changing Your Withholding During the year changes may occur to your marital status, exemptions, adjustments, deductions, or credits you expect to claim on your tax return. Tax amendment form 1040x When this happens, you may need to give your employer a new Form W-4 to change your withholding status or your number of allowances. Tax amendment form 1040x If the changes reduce the number of allowances you are claiming or changes your marital status from married to single, you must give your employer a new Form W-4 within 10 days. Tax amendment form 1040x Generally, you can submit a new Form W-4 whenever you wish to change the number of your withholding allowances for any other reason. Tax amendment form 1040x Changing your withholding for 2015. Tax amendment form 1040x   If events in 2014 will decrease the number of your withholding allowances for 2015, you must give your employer a new Form W-4 by December 1, 2014. Tax amendment form 1040x If the event occurs in December 2014, submit a new Form W-4 within 10 days. Tax amendment form 1040x Checking Your Withholding After you have given your employer a Form W-4, you can check to see whether the amount of tax withheld from your pay is too little or too much. Tax amendment form 1040x If too much or too little tax is being withheld, you should give your employer a new Form W-4 to change your withholding. Tax amendment form 1040x You should try to have your withholding match your actual tax liability. Tax amendment form 1040x If not enough tax is withheld, you will owe tax at the end of the year and may have to pay interest and a penalty. Tax amendment form 1040x If too much tax is withheld, you will lose the use of that money until you get your refund. Tax amendment form 1040x Always check your withholding if there are personal or financial changes in your life or changes in the law that might change your tax liability. Tax amendment form 1040x Note. Tax amendment form 1040x You cannot give your employer a payment to cover withholding on salaries and wages for past pay periods or a payment for estimated tax. Tax amendment form 1040x Completing Form W-4 and Worksheets Form W-4 has worksheets to help you figure how many withholding allowances you can claim. Tax amendment form 1040x The worksheets are for your own records. Tax amendment form 1040x Do not give them to your employer. Tax amendment form 1040x Multiple jobs. Tax amendment form 1040x   If you have income from more than one job at the same time, complete only one set of Form W-4 worksheets. Tax amendment form 1040x Then split your allowances between the Forms W-4 for each job. Tax amendment form 1040x You cannot claim the same allowances with more than one employer at the same time. Tax amendment form 1040x You can claim all your allowances with one employer and none with the other(s), or divide them any other way. Tax amendment form 1040x Married individuals. Tax amendment form 1040x   If both you and your spouse are employed and expect to file a joint return, figure your withholding allowances using your combined income, adjustments, deductions, exemptions, and credits. Tax amendment form 1040x Use only one set of worksheets. Tax amendment form 1040x You can divide your total allowances any way, but you cannot claim an allowance that your spouse also claims. Tax amendment form 1040x   If you and your spouse expect to file separate returns, figure your allowances using separate worksheets based on your own individual income, adjustments, deductions, exemptions, and credits. Tax amendment form 1040x Alternative method of figuring withholding allowances. Tax amendment form 1040x   You do not have to use the Form W-4 worksheets if you use a more accurate method of figuring the number of withholding allowances. Tax amendment form 1040x For more information, see Alternative method of figuring withholding allowances under Completing Form W-4 and Worksheets in Publication 505, chapter 1. Tax amendment form 1040x Personal Allowances Worksheet. Tax amendment form 1040x   Use the Personal Allowances Worksheet on Form W-4 to figure your withholding allowances based on exemptions and any special allowances that apply. Tax amendment form 1040x Deduction and Adjustments Worksheet. Tax amendment form 1040x   Use the Deduction and Adjustments Worksheet on Form W-4 if you plan to itemize your deductions, claim certain credits, or claim adjustments to the income on your 2014 tax return and you want to reduce your withholding. Tax amendment form 1040x Also, complete this worksheet when you have changes to these items to see if you need to change your withholding. Tax amendment form 1040x Two-Earners/Multiple Jobs Worksheet. Tax amendment form 1040x   You may need to complete the Two-Earners/Multiple Jobs Worksheet on Form W-4 if you have more than one job, a working spouse, or are also receiving a pension. Tax amendment form 1040x Also, on this worksheet you can add any additional withholding necessary to cover any amount you expect to owe other than income tax, such as self-employment tax. Tax amendment form 1040x Getting the Right Amount of Tax Withheld In most situations, the tax withheld from your pay will be close to the tax you figure on your return if you follow these two rules. Tax amendment form 1040x You accurately complete all the Form W-4 worksheets that apply to you. Tax amendment form 1040x You give your employer a new Form W-4 when changes occur. Tax amendment form 1040x But because the worksheets and withholding methods do not account for all possible situations, you may not be getting the right amount withheld. Tax amendment form 1040x This is most likely to happen in the following situations. Tax amendment form 1040x You are married and both you and your spouse work. Tax amendment form 1040x You have more than one job at a time. Tax amendment form 1040x You have nonwage income, such as interest, dividends, alimony, unemployment compensation, or self-employment income. Tax amendment form 1040x You will owe additional amounts with your return, such as self-employment tax. Tax amendment form 1040x Your withholding is based on obsolete Form W-4 information for a substantial part of the year. Tax amendment form 1040x Your earnings are more than the amount shown under Check your withholding in the instructions at the top of page 1 of Form W-4. Tax amendment form 1040x You work only part of the year. Tax amendment form 1040x You change the number of your withholding allowances during the year. Tax amendment form 1040x Cumulative wage method. Tax amendment form 1040x   If you change the number of your withholding allowances during the year, too much or too little tax may have been withheld for the period before you made the change. Tax amendment form 1040x You may be able to compensate for this if your employer agrees to use the cumulative wage withholding method for the rest of the year. Tax amendment form 1040x You must ask your employer in writing to use this method. Tax amendment form 1040x   To be eligible, you must have been paid for the same kind of payroll period (weekly, biweekly, etc. Tax amendment form 1040x ) since the beginning of the year. Tax amendment form 1040x Publication 505 To make sure you are getting the right amount of tax withheld, get Publication 505. Tax amendment form 1040x It will help you compare the total tax to be withheld during the year with the tax you can expect to figure on your return. Tax amendment form 1040x It also will help you determine how much, if any, additional withholding is needed each payday to avoid owing tax when you file your return. Tax amendment form 1040x If you do not have enough tax withheld, you may have to pay estimated tax, as explained under Estimated Tax for 2014 , later. Tax amendment form 1040x You can use the IRS Withholding Calculator at www. Tax amendment form 1040x irs. Tax amendment form 1040x gov/Individuals, instead of Publication 505 or the worksheets included with Form W-4, to determine whether you need to have your withholding increased or decreased. Tax amendment form 1040x Rules Your Employer Must Follow It may be helpful for you to know some of the withholding rules your employer must follow. Tax amendment form 1040x These rules can affect how to fill out your Form W-4 and how to handle problems that may arise. Tax amendment form 1040x New Form W-4. Tax amendment form 1040x   When you start a new job, your employer should have you complete a Form W-4. Tax amendment form 1040x Beginning with your first payday, your employer will use the information you give on the form to figure your withholding. Tax amendment form 1040x   If you later fill out a new Form W-4, your employer can put it into effect as soon as possible. Tax amendment form 1040x The deadline for putting it into effect is the start of the first payroll period ending 30 or more days after you turn it in. Tax amendment form 1040x No Form W-4. Tax amendment form 1040x   If you do not give your employer a completed Form W-4, your employer must withhold at the highest rate, as if you were single and claimed no withholding allowances. Tax amendment form 1040x Repaying withheld tax. Tax amendment form 1040x   If you find you are having too much tax withheld because you did not claim all the withholding allowances you are entitled to, you should give your employer a new Form W-4. Tax amendment form 1040x Your employer cannot repay any of the tax previously withheld. Tax amendment form 1040x Instead, claim the full amount withheld when you file your tax return. Tax amendment form 1040x   However, if your employer has withheld more than the correct amount of tax for the Form W-4 you have in effect, you do not have to fill out a new Form W-4 to have your withholding lowered to the correct amount. Tax amendment form 1040x Your employer can repay the amount that was withheld incorrectly. Tax amendment form 1040x If you are not repaid, your Form W-2 will reflect the full amount actually withheld, which you would claim when you file your tax return. Tax amendment form 1040x Exemption From Withholding If you claim exemption from withholding, your employer will not withhold federal income tax from your wages. Tax amendment form 1040x The exemption applies only to income tax, not to social security or Medicare tax. Tax amendment form 1040x You can claim exemption from withholding for 2014 only if both of the following situations apply. Tax amendment form 1040x For 2013 you had a right to a refund of all federal income tax withheld because you had no tax liability. Tax amendment form 1040x For 2014 you expect a refund of all federal income tax withheld because you expect to have no tax liability. Tax amendment form 1040x Students. Tax amendment form 1040x   If you are a student, you are not automatically exempt. Tax amendment form 1040x See chapter 1 to find out if you must file a return. Tax amendment form 1040x If you work only part time or only during the summer, you may qualify for exemption from withholding. Tax amendment form 1040x Age 65 or older or blind. Tax amendment form 1040x   If you are 65 or older or blind, use Worksheet 1-3 or 1-4 in chapter 1 of Publication 505, to help you decide if you qualify for exemption from withholding. Tax amendment form 1040x Do not use either worksheet if you will itemize deductions, claim exemptions for dependents, or claim tax credits on your 2014 return. Tax amendment form 1040x Instead, see Itemizing deductions or claiming exemptions or credits in chapter 1 of Publication 505. Tax amendment form 1040x Claiming exemption from withholding. Tax amendment form 1040x   To claim exemption, you must give your employer a Form W-4. Tax amendment form 1040x Do not complete lines 5 and 6. Tax amendment form 1040x Enter “Exempt” on line 7. Tax amendment form 1040x   If you claim exemption, but later your situation changes so that you will have to pay income tax after all, you must file a new Form W-4 within 10 days after the change. Tax amendment form 1040x If you claim exemption in 2014, but you expect to owe income tax for 2015, you must file a new Form W-4 by December 1, 2014. Tax amendment form 1040x   Your claim of exempt status may be reviewed by the IRS. Tax amendment form 1040x An exemption is good for only 1 year. Tax amendment form 1040x   You must give your employer a new Form W-4 by February 15 each year to continue your exemption. Tax amendment form 1040x Supplemental Wages Supplemental wages include bonuses, commissions, overtime pay, vacation allowances, certain sick pay, and expense allowances under certain plans. Tax amendment form 1040x The payer can figure withholding on supplemental wages using the same method used for your regular wages. Tax amendment form 1040x However, if these payments are identified separately from your regular wages, your employer or other payer of supplemental wages can withhold income tax from these wages at a flat rate. Tax amendment form 1040x Expense allowances. Tax amendment form 1040x   Reimbursements or other expense allowances paid by your employer under a nonaccountable plan are treated as supplemental wages. Tax amendment form 1040x   Reimbursements or other expense allowances paid under an accountable plan that are more than your proven expenses are treated as paid under a nonaccountable plan if you do not return the excess payments within a reasonable period of time. Tax amendment form 1040x   For more information about accountable and nonaccountable expense allowance plans, see Reimbursements in chapter 26. Tax amendment form 1040x Penalties You may have to pay a penalty of $500 if both of the following apply. Tax amendment form 1040x You make statements or claim withholding allowances on your Form W-4 that reduce the amount of tax withheld. Tax amendment form 1040x You have no reasonable basis for those statements or allowances at the time you prepare your Form W-4. Tax amendment form 1040x There is also a criminal penalty for willfully supplying false or fraudulent information on your Form W-4 or for willfully failing to supply information that would increase the amount withheld. Tax amendment form 1040x The penalty upon conviction can be either a fine of up to $1,000 or imprisonment for up to 1 year, or both. Tax amendment form 1040x These penalties will apply if you deliberately and knowingly falsify your Form W-4 in an attempt to reduce or eliminate the proper withholding of taxes. Tax amendment form 1040x A simple error or an honest mistake will not result in one of these penalties. Tax amendment form 1040x For example, a person who has tried to figure the number of withholding allowances correctly, but claims seven when the proper number is six, will not be charged a W-4 penalty. Tax amendment form 1040x Tips The tips you receive while working on your job are considered part of your pay. Tax amendment form 1040x You must include your tips on your tax return on the same line as your regular pay. Tax amendment form 1040x However, tax is not withheld directly from tip income, as it is from your regular pay. Tax amendment form 1040x Nevertheless, your employer will take into account the tips you report when figuring how much to withhold from your regular pay. Tax amendment form 1040x See chapter 6 for information on reporting your tips to your employer. Tax amendment form 1040x For more information on the withholding rules for tip income, see Publication 531, Reporting Tip Income. Tax amendment form 1040x How employer figures amount to withhold. Tax amendment form 1040x   The tips you report to your employer are counted as part of your income for the month you report them. Tax amendment form 1040x Your employer can figure your withholding in either of two ways. Tax amendment form 1040x By withholding at the regular rate on the sum of your pay plus your reported tips. Tax amendment form 1040x By withholding at the regular rate on your pay plus a percentage of your reported tips. Tax amendment form 1040x Not enough pay to cover taxes. Tax amendment form 1040x   If your regular pay is not enough for your employer to withhold all the tax (including income tax and social security and Medicare taxes (or the equivalent railroad retirement tax)) due on your pay plus your tips, you can give your employer money to cover the shortage. Tax amendment form 1040x See Giving your employer money for taxes in chapter 6. Tax amendment form 1040x Allocated tips. Tax amendment form 1040x   Your employer should not withhold income tax, Medicare tax, social security tax, or railroad retirement tax on any allocated tips. Tax amendment form 1040x Withholding is based only on your pay plus your reported tips. Tax amendment form 1040x Your employer should refund to you any incorrectly withheld tax. Tax amendment form 1040x See Allocated Tips in chapter 6 for more information. Tax amendment form 1040x Taxable Fringe Benefits The value of certain noncash fringe benefits you receive from your employer is considered part of your pay. Tax amendment form 1040x Your employer generally must withhold income tax on these benefits from your regular pay. Tax amendment form 1040x For information on fringe benefits, see Fringe Benefits under Employee Compensation in chapter 5. Tax amendment form 1040x Although the value of your personal use of an employer-provided car, truck, or other highway motor vehicle is taxable, your employer can choose not to withhold income tax on that amount. Tax amendment form 1040x Your employer must notify you if this choice is made. Tax amendment form 1040x For more information on withholding on taxable fringe benefits, see chapter 1 of Publication 505. Tax amendment form 1040x Sick Pay Sick pay is a payment to you to replace your regular wages while you are temporarily absent from work due to sickness or personal injury. Tax amendment form 1040x To qualify as sick pay, it must be paid under a plan to which your employer is a party. Tax amendment form 1040x If you receive sick pay from your employer or an agent of your employer, income tax must be withheld. Tax amendment form 1040x An agent who does not pay regular wages to you may choose to withhold income tax at a flat rate. Tax amendment form 1040x However, if you receive sick pay from a third party who is not acting as an agent of your employer, income tax will be withheld only if you choose to have it withheld. Tax amendment form 1040x See Form W-4S , later. Tax amendment form 1040x If you receive payments under a plan in which your employer does not participate (such as an accident or health plan where you paid all the premiums), the payments are not sick pay and usually are not taxable. Tax amendment form 1040x Union agreements. Tax amendment form 1040x   If you receive sick pay under a collective bargaining agreement between your union and your employer, the agreement may determine the amount of income tax withholding. Tax amendment form 1040x See your union representative or your employer for more information. Tax amendment form 1040x Form W-4S. Tax amendment form 1040x   If you choose to have income tax withheld from sick pay paid by a third party, such as an insurance company, you must fill out Form W-4S. Tax amendment form 1040x Its instructions contain a worksheet you can use to figure the amount you want withheld. Tax amendment form 1040x They also explain restrictions that may apply. Tax amendment form 1040x   Give the completed form to the payer of your sick pay. Tax amendment form 1040x The payer must withhold according to your directions on the form. Tax amendment form 1040x Estimated tax. Tax amendment form 1040x   If you do not request withholding on Form W-4S, or if you do not have enough tax withheld, you may have to make estimated tax payments. Tax amendment form 1040x If you do not pay enough tax, either through estimated tax or withholding, or a combination of both, you may have to pay a penalty. Tax amendment form 1040x See Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x Pensions and Annuities Income tax usually will be withheld from your pension or annuity distributions unless you choose not to have it withheld. Tax amendment form 1040x This rule applies to distributions from: A traditional individual retirement arrangement (IRA); A life insurance company under an endowment, annuity, or life insurance contract; A pension, annuity, or profit-sharing plan; A stock bonus plan; and Any other plan that defers the time you receive compensation. Tax amendment form 1040x The amount withheld depends on whether you receive payments spread out over more than 1 year (periodic payments), within 1 year (nonperiodic payments), or as an eligible rollover distribution (ERD). Tax amendment form 1040x Income tax withholding from an ERD is mandatory. Tax amendment form 1040x More information. Tax amendment form 1040x   For more information on taxation of annuities and distributions (including ERDs) from qualified retirement plans, see chapter 10. Tax amendment form 1040x For information on IRAs, see chapter 17. Tax amendment form 1040x For more information on withholding on pensions and annuities, including a discussion of Form W-4P, see Pensions and Annuities in chapter 1 of Publication 505. Tax amendment form 1040x Gambling Winnings Income tax is withheld at a flat 25% rate from certain kinds of gambling winnings. Tax amendment form 1040x Gambling winnings of more than $5,000 from the following sources are subject to income tax withholding. Tax amendment form 1040x Any sweepstakes; wagering pool, including payments made to winners of poker tournaments; or lottery. Tax amendment form 1040x Any other wager, if the proceeds are at least 300 times the amount of the bet. Tax amendment form 1040x It does not matter whether your winnings are paid in cash, in property, or as an annuity. Tax amendment form 1040x Winnings not paid in cash are taken into account at their fair market value. Tax amendment form 1040x Exception. Tax amendment form 1040x   Gambling winnings from bingo, keno, and slot machines generally are not subject to income tax withholding. Tax amendment form 1040x However, you may need to provide the payer with a social security number to avoid withholding. Tax amendment form 1040x See Backup withholding on gambling winnings in chapter 1 of Publication 505. Tax amendment form 1040x If you receive gambling winnings not subject to withholding, you may need to pay estimated tax. Tax amendment form 1040x See Estimated Tax for 2014 , later. Tax amendment form 1040x If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Tax amendment form 1040x See Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x Form W-2G. Tax amendment form 1040x   If a payer withholds income tax from your gambling winnings, you should receive a Form W-2G, Certain Gambling Winnings, showing the amount you won and the amount withheld. Tax amendment form 1040x Report the tax withheld on line 62 of Form 1040. Tax amendment form 1040x Unemployment Compensation You can choose to have income tax withheld from unemployment compensation. Tax amendment form 1040x To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Tax amendment form 1040x All unemployment compensation is taxable. Tax amendment form 1040x So, if you do not have income tax withheld, you may have to pay estimated tax. Tax amendment form 1040x See Estimated Tax for 2014 , later. Tax amendment form 1040x If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Tax amendment form 1040x For information, see Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x Federal Payments You can choose to have income tax withheld from certain federal payments you receive. Tax amendment form 1040x These payments are: Social security benefits, Tier 1 railroad retirement benefits, Commodity credit corporation loans you choose to include in your gross income, Payments under the Agricultural Act of 1949 (7 U. Tax amendment form 1040x S. Tax amendment form 1040x C. Tax amendment form 1040x 1421 et. Tax amendment form 1040x seq. Tax amendment form 1040x ), as amended, or title II of the Disaster Assistance Act of 1988, that are treated as insurance proceeds and that you receive because: Your crops were destroyed or damaged by drought, flood, or any other natural disaster, or You were unable to plant crops because of a natural disaster described in (a), and Any other payment under Federal law as determined by the Secretary. Tax amendment form 1040x To make this choice, fill out Form W-4V (or a similar form provided by the payer) and give it to the payer. Tax amendment form 1040x If you do not choose to have income tax withheld, you may have to pay estimated tax. Tax amendment form 1040x See Estimated Tax for 2014 , later. Tax amendment form 1040x If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Tax amendment form 1040x For information, see Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x More information. Tax amendment form 1040x   For more information about the tax treatment of social security and railroad retirement benefits, see chapter 11. Tax amendment form 1040x Get Publication 225, Farmer's Tax Guide, for information about the tax treatment of commodity credit corporation loans or crop disaster payments. Tax amendment form 1040x Backup Withholding Banks or other businesses that pay you certain kinds of income must file an information return (Form 1099) with the IRS. Tax amendment form 1040x The information return shows how much you were paid during the year. Tax amendment form 1040x It also includes your name and taxpayer identification number (TIN). Tax amendment form 1040x TINs are explained in chapter 1 under Social Security Number (SSN) . Tax amendment form 1040x These payments generally are not subject to withholding. Tax amendment form 1040x However, “backup” withholding is required in certain situations. Tax amendment form 1040x Backup withholding can apply to most kinds of payments that are reported on Form 1099. Tax amendment form 1040x The payer must withhold at a flat 28% rate in the following situations. Tax amendment form 1040x You do not give the payer your TIN in the required manner. Tax amendment form 1040x The IRS notifies the payer that the TIN you gave is incorrect. Tax amendment form 1040x You are required, but fail, to certify that you are not subject to backup withholding. Tax amendment form 1040x The IRS notifies the payer to start withholding on interest or dividends because you have underreported interest or dividends on your income tax return. Tax amendment form 1040x The IRS will do this only after it has mailed you four notices over at least a 210-day period. Tax amendment form 1040x See Backup Withholding in chapter 1 of Publication 505 for more information. Tax amendment form 1040x Penalties. Tax amendment form 1040x   There are civil and criminal penalties for giving false information to avoid backup withholding. Tax amendment form 1040x The civil penalty is $500. Tax amendment form 1040x The criminal penalty, upon conviction, is a fine of up to $1,000 or imprisonment of up to 1 year, or both. Tax amendment form 1040x Estimated Tax for 2014 Estimated tax is the method used to pay tax on income that is not subject to withholding. Tax amendment form 1040x This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. Tax amendment form 1040x You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough. Tax amendment form 1040x Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. Tax amendment form 1040x If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. Tax amendment form 1040x If you do not pay enough by the due date of each payment period (see When To Pay Estimated Tax , later), you may be charged a penalty even if you are due a refund when you file your tax return. Tax amendment form 1040x For information on when the penalty applies, see Underpayment Penalty for 2013 at the end of this chapter. Tax amendment form 1040x Who Does Not Have To Pay Estimated Tax If you receive salaries or wages, you can avoid having to pay estimated tax by asking your employer to take more tax out of your earnings. Tax amendment form 1040x To do this, give a new Form W-4 to your employer. Tax amendment form 1040x See chapter 1 of Publication 505. Tax amendment form 1040x Estimated tax not required. Tax amendment form 1040x   You do not have to pay estimated tax for 2014 if you meet all three of the following conditions. Tax amendment form 1040x You had no tax liability for 2013. Tax amendment form 1040x You were a U. Tax amendment form 1040x S. Tax amendment form 1040x citizen or resident alien for the whole year. Tax amendment form 1040x Your 2013 tax year covered a 12-month period. Tax amendment form 1040x   You had no tax liability for 2013 if your total tax was zero or you did not have to file an income tax return. Tax amendment form 1040x For the definition of “total tax” for 2013, see Publication 505, chapter 2. Tax amendment form 1040x Who Must Pay Estimated Tax If you owe additional tax for 2013, you may have to pay estimated tax for 2014. Tax amendment form 1040x You can use the following general rule as a guide during the year to see if you will have enough withholding, or if you should increase your withholding or make estimated tax payments. Tax amendment form 1040x General rule. Tax amendment form 1040x   In most cases, you must pay estimated tax for 2014 if both of the following apply. Tax amendment form 1040x You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. Tax amendment form 1040x You expect your withholding plus your refundable credits to be less than the smaller of: 90% of the tax to be shown on your 2014 tax return, or 100% of the tax shown on your 2013 tax return (but see Special rules for farmers, fishermen, and higher income taxpayers, later). Tax amendment form 1040x Your 2013 tax return must cover all 12 months. Tax amendment form 1040x    If the result from using the general rule above suggests that you will not have enough withholding, complete the 2014 Estimated Tax Worksheet in Publication 505 for a more accurate calculation. Tax amendment form 1040x Special rules for farmers, fishermen, and higher income taxpayers. Tax amendment form 1040x   If at least two-thirds of your gross income for tax year 2013 or 2014 is from farming or fishing, substitute 662/3% for 90% in (2a) under the General rule, earlier. Tax amendment form 1040x If your AGI for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing a separate return), substitute 110% for 100% in (2b) under General rule , earlier. Tax amendment form 1040x See Figure 4-A and Publication 505, chapter 2 for more information. Tax amendment form 1040x Figure 4-A. Tax amendment form 1040x Do You Have To Pay Estimated Tax? Please click here for the text description of the image. Tax amendment form 1040x Figure 4-A Do You Have To Pay Estimated Tax? Aliens. Tax amendment form 1040x   Resident and nonresident aliens also may have to pay estimated tax. Tax amendment form 1040x Resident aliens should follow the rules in this chapter unless noted otherwise. Tax amendment form 1040x Nonresident aliens should get Form 1040-ES (NR), U. Tax amendment form 1040x S. Tax amendment form 1040x Estimated Tax for Nonresident Alien Individuals. Tax amendment form 1040x   You are an alien if you are not a citizen or national of the United States. Tax amendment form 1040x You are a resident alien if you either have a green card or meet the substantial presence test. Tax amendment form 1040x For more information about the substantial presence test, see Publication 519, U. Tax amendment form 1040x S. Tax amendment form 1040x Tax Guide for Aliens. Tax amendment form 1040x Married taxpayers. Tax amendment form 1040x   If you qualify to make joint estimated tax payments, apply the rules discussed here to your joint estimated income. Tax amendment form 1040x   You and your spouse can make joint estimated tax payments even if you are not living together. Tax amendment form 1040x   However, you and your spouse cannot make joint estimated tax payments if:  You are legally separated under a decree of divorce or separate maintenance, You and your spouse have different tax years, or Either spouse is a nonresident alien (unless that spouse elected to be treated as a resident alien for tax purposes (see chapter 1 of Publication 519)). Tax amendment form 1040x   If you do not qualify to make joint estimated tax payments, apply these rules to your separate estimated income. Tax amendment form 1040x Making joint or separate estimated tax payments will not affect your choice of filing a joint tax return or separate returns for 2014. Tax amendment form 1040x 2013 separate returns and 2014 joint return. Tax amendment form 1040x   If you plan to file a joint return with your spouse for 2014, but you filed separate returns for 2013, your 2013 tax is the total of the tax shown on your separate returns. Tax amendment form 1040x You filed a separate return if you filed as single, head of household, or married filing separately. Tax amendment form 1040x 2013 joint return and 2014 separate returns. Tax amendment form 1040x   If you plan to file a separate return for 2014 but you filed a joint return for 2013, your 2013 tax is your share of the tax on the joint return. Tax amendment form 1040x You file a separate return if you file as single, head of household, or married filing separately. Tax amendment form 1040x   To figure your share of the tax on the joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2013 using the same filing status as for 2014. Tax amendment form 1040x Then multiply the tax on the joint return by the following fraction. Tax amendment form 1040x     The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Tax amendment form 1040x Joe and Heather filed a joint return for 2013 showing taxable income of $48,500 and a tax of $6,386. Tax amendment form 1040x Of the $48,500 taxable income, $40,100 was Joe's and the rest was Heather's. Tax amendment form 1040x For 2014, they plan to file married filing separately. Tax amendment form 1040x Joe figures his share of the tax on the 2013 joint return as follows. Tax amendment form 1040x   Tax on $40,100 based on a separate return $5,960     Tax on $8,400 based on a separate return 843     Total $6,803     Joe's percentage of total ($5,960 ÷ $6,803) 87. Tax amendment form 1040x 6%     Joe's share of tax on joint return  ($6,386 × 87. Tax amendment form 1040x 6%) $5,594   How To Figure Estimated Tax To figure your estimated tax, you must figure your expected adjusted gross income (AGI), taxable income, taxes, deductions, and credits for the year. Tax amendment form 1040x When figuring your 2014 estimated tax, it may be helpful to use your income, deductions, and credits for 2013 as a starting point. Tax amendment form 1040x Use your 2013 federal tax return as a guide. Tax amendment form 1040x You can use Form 1040-ES and Publication 505 to figure your estimated tax. Tax amendment form 1040x Nonresident aliens use Form 1040-ES (NR) and Publication 505 to figure estimated tax (see chapter 8 of Publication 519 for more information). Tax amendment form 1040x You must make adjustments both for changes in your own situation and for recent changes in the tax law. Tax amendment form 1040x For a discussion of these changes, visit IRS. Tax amendment form 1040x gov. Tax amendment form 1040x For more complete information on how to figure your estimated tax for 2014, see chapter 2 of Publication 505. Tax amendment form 1040x When To Pay Estimated Tax For estimated tax purposes, the tax year is divided into four payment periods. Tax amendment form 1040x Each period has a specific payment due date. Tax amendment form 1040x If you do not pay enough tax by the due date of each payment period, you may be charged a penalty even if you are due a refund when you file your income tax return. Tax amendment form 1040x The payment periods and due dates for estimated tax payments are shown next. Tax amendment form 1040x   For the period: Due date:*     Jan. Tax amendment form 1040x 1 – March 31 April 15     April 1 – May 31 June 16     June 1 – August 31 Sept. Tax amendment form 1040x 15     Sept. Tax amendment form 1040x 1– Dec. Tax amendment form 1040x 31 Jan. Tax amendment form 1040x 15, next year     *See Saturday, Sunday, holiday rule and January payment . Tax amendment form 1040x Saturday, Sunday, holiday rule. Tax amendment form 1040x   If the due date for an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday, or legal holiday. Tax amendment form 1040x January payment. Tax amendment form 1040x   If you file your 2014 Form 1040 or Form 1040A by January 31, 2015, and pay the rest of the tax you owe, you do not need to make the payment due on January 15, 2015. Tax amendment form 1040x Fiscal year taxpayers. Tax amendment form 1040x   If your tax year does not start on January 1, see the Form 1040-ES instructions for your payment due dates. Tax amendment form 1040x When To Start You do not have to make estimated tax payments until you have income on which you will owe income tax. Tax amendment form 1040x If you have income subject to estimated tax during the first payment period, you must make your first payment by the due date for the first payment period. Tax amendment form 1040x You can pay all your estimated tax at that time, or you can pay it in installments. Tax amendment form 1040x If you choose to pay in installments, make your first payment by the due date for the first payment period. Tax amendment form 1040x Make your remaining installment payments by the due dates for the later periods. Tax amendment form 1040x No income subject to estimated tax during first period. Tax amendment form 1040x    If you do not have income subject to estimated tax until a later payment period, you must make your first payment by the due date for that period. Tax amendment form 1040x You can pay your entire estimated tax by the due date for that period or you can pay it in installments by the due date for that period and the due dates for the remaining periods. Tax amendment form 1040x The following chart shows when to make installment payments. Tax amendment form 1040x If you first have income on which you must pay estimated tax: Make a payment  by:* Make later installments by:* Before April 1 April 15 June 16 Sept. Tax amendment form 1040x 15 Jan. Tax amendment form 1040x 15 next year April 1–May 31 June 16 Sept. Tax amendment form 1040x 15 Jan. Tax amendment form 1040x 15 next year June 1–Aug. Tax amendment form 1040x 31 Sept. Tax amendment form 1040x 15 Jan. Tax amendment form 1040x 15 next year After Aug. Tax amendment form 1040x 31 Jan. Tax amendment form 1040x 15 next year (None) *See Saturday, Sunday, holiday rule and January payment . Tax amendment form 1040x How much to pay to avoid a penalty. Tax amendment form 1040x   To determine how much you should pay by each payment due date, see How To Figure Each Payment, next. Tax amendment form 1040x How To Figure Each Payment You should pay enough estimated tax by the due date of each payment period to avoid a penalty for that period. Tax amendment form 1040x You can figure your required payment for each period by using either the regular installment method or the annualized income installment method. Tax amendment form 1040x These methods are described in chapter 2 of Publication 505. Tax amendment form 1040x If you do not pay enough during each payment period, you may be charged a penalty even if you are due a refund when you file your tax return. Tax amendment form 1040x If the earlier discussion of No income subject to estimated tax during first period or the later discussion of Change in estimated tax applies to you, you may benefit from reading Annualized Income Installment Method in chapter 2 of Publication 505 for information on how to avoid a penalty. Tax amendment form 1040x Underpayment penalty. Tax amendment form 1040x   Under the regular installment method, if your estimated tax payment for any period is less than one-fourth of your estimated tax, you may be charged a penalty for underpayment of estimated tax for that period when you file your tax return. Tax amendment form 1040x Under the annualized income installment method, your estimated tax payments vary with your income, but the amount required must be paid each period. Tax amendment form 1040x See chapter 4 of Publication 505 for more information. Tax amendment form 1040x Change in estimated tax. Tax amendment form 1040x   After you make an estimated tax payment, changes in your income, adjustments, deductions, credits, or exemptions may make it necessary for you to refigure your estimated tax. Tax amendment form 1040x Pay the unpaid balance of your amended estimated tax by the next payment due date after the change or in installments by that date and the due dates for the remaining payment periods. Tax amendment form 1040x Estimated Tax Payments Not Required You do not have to pay estimated tax if your withholding in each payment period is at least as much as: One-fourth of your required annual payment, or Your required annualized income installment for that period. Tax amendment form 1040x You also do not have to pay estimated tax if you will pay enough through withholding to keep the amount you owe with your return under $1,000. Tax amendment form 1040x How To Pay Estimated Tax There are several ways to pay estimated tax. Tax amendment form 1040x Credit an overpayment on your 2013 return to your 2014 estimated tax. Tax amendment form 1040x Pay by direct transfer from your bank account, or pay by credit or debit card using a pay-by-phone system or the Internet. Tax amendment form 1040x Send in your payment (check or money order) with a payment voucher from Form 1040-ES. Tax amendment form 1040x Credit an Overpayment If you show an overpayment of tax after completing your Form 1040 or Form 1040A for 2013, you can apply part or all of it to your estimated tax for 2014. Tax amendment form 1040x On line 75 of Form 1040, or line 44 of Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Tax amendment form 1040x Take the amount you have credited into account when figuring your estimated tax payments. Tax amendment form 1040x You cannot have any of the amount you credited to your estimated tax refunded to you until you file your tax return for the following year. Tax amendment form 1040x You also cannot use that overpayment in any other way. Tax amendment form 1040x Pay Online Paying online is convenient and secure and helps make sure we get your payments on time. Tax amendment form 1040x You can pay using either of the following electronic payment methods. Tax amendment form 1040x Direct transfer from your bank account. Tax amendment form 1040x Credit or debit card. Tax amendment form 1040x To pay your taxes online or for more information, go to www. Tax amendment form 1040x irs. Tax amendment form 1040x gov/e-pay. Tax amendment form 1040x Pay by Phone Paying by phone is another safe and secure method of paying electronically. Tax amendment form 1040x Use one of the following methods. Tax amendment form 1040x Direct transfer from your bank account. Tax amendment form 1040x Credit or debit card. Tax amendment form 1040x To pay by direct transfer from your bank account, call 1-800-555-4477 (English), 1-800-244-4829 (Espanol). Tax amendment form 1040x People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD can call 1-800-733-4829. Tax amendment form 1040x To pay using a credit or debit card, you can call one of the following service providers. Tax amendment form 1040x There is a convenience fee charged by these providers that varies by provider, card type, and payment amount. Tax amendment form 1040x WorldPay 1-888-9-PAY-TAXTM(1-888-972-9829) www. Tax amendment form 1040x payUSAtax. Tax amendment form 1040x com Official Payments Corporation 1-888-UPAY-TAXTM (1-888-872-9829) www. Tax amendment form 1040x officialpayments. Tax amendment form 1040x com Link2Gov Corporation 1-888-PAY-1040TM (1-888-729-1040) www. Tax amendment form 1040x PAY1040. Tax amendment form 1040x com For the latest details on how to pay by phone, go to www. Tax amendment form 1040x irs. Tax amendment form 1040x gov/e-pay. Tax amendment form 1040x Pay by Check or Money Order Using the Estimated Tax Payment Voucher Each payment of estimated tax by check or money order must be accompanied by a payment voucher from Form 1040-ES. Tax amendment form 1040x During 2013, if you: made at least one estimated tax payment but not by electronic means, did not use software or a paid preparer to prepare or file your return,  then you should receive a copy of the 2014 Form 1040-ES/V. Tax amendment form 1040x The enclosed payment vouchers will be preprinted with your name, address, and social security number. Tax amendment form 1040x Using the preprinted vouchers will speed processing, reduce the chance of error, and help save processing costs. Tax amendment form 1040x Use the window envelopes that came with your Form 1040-ES package. Tax amendment form 1040x If you use your own envelopes, make sure you mail your payment vouchers to the address shown in the Form 1040-ES instructions for the place where you live. Tax amendment form 1040x Note. Tax amendment form 1040x These criteria can change without notice. Tax amendment form 1040x If you do not receive a Form 1040-ES/V package and you are required to make an estimated tax payment, you should go to www. Tax amendment form 1040x irs. Tax amendment form 1040x gov and print a copy of Form 1040-ES which includes four blank payment vouchers. Tax amendment form 1040x Complete one of these and make your payment timely to avoid penalties for paying late. Tax amendment form 1040x Do not use the address shown in the Form 1040 or Form 1040A instructions for your estimated tax payments. Tax amendment form 1040x If you did not pay estimated tax last year, you can order Form 1040-ES from the IRS (see inside back cover of this publication) or download it from IRS. Tax amendment form 1040x gov. Tax amendment form 1040x Follow the instructions to make sure you use the vouchers correctly. Tax amendment form 1040x Joint estimated tax payments. Tax amendment form 1040x   If you file a joint return and are making joint estimated tax payments, enter the names and social security numbers on the payment voucher in the same order as they will appear on the joint return. Tax amendment form 1040x Change of address. Tax amendment form 1040x   You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Tax amendment form 1040x Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form. Tax amendment form 1040x Credit for Withholding and Estimated Tax for 2013 When you file your 2013 income tax return, take credit for all the income tax and excess social security or railroad retirement tax withheld from your salary, wages, pensions, etc. Tax amendment form 1040x Also take credit for the estimated tax you paid for 2013. Tax amendment form 1040x These credits are subtracted from your total tax. Tax amendment form 1040x Because these credits are refundable, you should file a return and claim these credits, even if you do not owe tax. Tax amendment form 1040x Two or more employers. Tax amendment form 1040x   If you had two or more employers in 2013 and were paid wages of more than $113,700, too much social security or tier 1 railroad retirement tax may have been withheld from your pay. Tax amendment form 1040x You may be able to claim the excess as a credit against your income tax when you file your return. Tax amendment form 1040x See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld in chapter 37. Tax amendment form 1040x Withholding If you had income tax withheld during 2013, you should be sent a statement by January 31, 2014, showing your income and the tax withheld. Tax amendment form 1040x Depending on the source of your income, you should receive: Form W-2, Wage and Tax Statement, Form W-2G, Certain Gambling Winnings, or A form in the 1099 series. Tax amendment form 1040x Forms W-2 and W-2G. Tax amendment form 1040x   If you file a paper return, always file Form W-2 with your income tax return. Tax amendment form 1040x File Form W-2G with your return only if it shows any federal income tax withheld from your winnings. Tax amendment form 1040x   You should get at least two copies of each form. Tax amendment form 1040x If you file a paper return, attach one copy to the front of your federal income tax return. Tax amendment form 1040x Keep one copy for your records. Tax amendment form 1040x You also should receive copies to file with your state and local returns. Tax amendment form 1040x Form W-2 Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. Tax amendment form 1040x You should receive a separate Form W-2 from each employer you worked for. Tax amendment form 1040x If you stopped working before the end of 2013, your employer could have given you your Form W-2 at any time after you stopped working. Tax amendment form 1040x However, your employer must provide or send it to you by January 31, 2014. Tax amendment form 1040x If you ask for the form, your employer must send it to you within 30 days after receiving your written request or within 30 days after your final wage payment, whichever is later. Tax amendment form 1040x If you have not received your Form W-2 by January 31, you should ask your employer for it. Tax amendment form 1040x If you do not receive it by February 15, call the IRS. Tax amendment form 1040x Form W-2 shows your total pay and other compensation and the income tax, social security tax, and Medicare tax that was withheld during the year. Tax amendment form 1040x Include the federal income tax withheld (as shown in box 2 of Form W-2) on: Line 62 if you file Form 1040, Line 36 if you file Form 1040A, or Line 7 if you file Form 1040EZ. Tax amendment form 1040x In addition, Form W-2 is used to report any taxable sick pay you received and any income tax withheld from your sick pay. Tax amendment form 1040x Form W-2G If you had gambling winnings in 2013, the payer may have withheld income tax. Tax amendment form 1040x If tax was withheld, the payer will give you a Form W-2G showing the amount you won and the amount of tax withheld. Tax amendment form 1040x Report the amounts you won on line 21 of Form 1040. Tax amendment form 1040x Take credit for the tax withheld on line 62 of Form 1040. Tax amendment form 1040x If you had gambling winnings, you must use Form 1040; you cannot use Form 1040A or Form 1040EZ. Tax amendment form 1040x The 1099 Series Most forms in the 1099 series are not filed with your return. Tax amendment form 1040x These forms should be furnished to you by January 31, 2014 (or, for Forms 1099-B, 1099-S, and certain Forms 1099-MISC, by February 15, 2014). Tax amendment form 1040x Unless instructed to file any of these forms with your return, keep them for your records. Tax amendment form 1040x There are several different forms in this series, including: Form 1099-B, Proceeds From Broker and Barter Exchange Transactions; Form 1099-DIV, Dividends and Distributions; Form 1099-G, Certain Government Payments; Form 1099-INT, Interest Income; Form 1099-K, Payment Card and Third Party Network Transactions; Form 1099-MISC, Miscellaneous Income; Form 1099-OID, Original Issue Discount; Form 1099-PATR, Taxable Distributions Received from Cooperatives; Form 1099-Q, Payments From Qualified Education Programs; Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Tax amendment form 1040x ; Form 1099-S, Proceeds From Real Estate Transactions; Form RRB-1099, Payments by the Railroad Retirement Board. Tax amendment form 1040x If you received the types of income reported on some forms in the 1099 series, you may not be able to use Form 1040A or Form 1040EZ. Tax amendment form 1040x See the instructions to these forms for details. Tax amendment form 1040x Form 1099-R. Tax amendment form 1040x   Attach Form 1099-R to your paper return if box 4 shows federal income tax withheld. Tax amendment form 1040x Include the amount withheld in the total on line 62 of Form 1040 or line 36 of Form 1040A. Tax amendment form 1040x You cannot use Form 1040EZ if you received payments reported on Form 1099-R. Tax amendment form 1040x Backup withholding. Tax amendment form 1040x   If you were subject to backup withholding on income you received during 2013, include the amount withheld, as shown on your Form 1099, in the total on line 62 of Form 1040, line 36 of Form 1040A, or line 7 of Form 1040EZ. Tax amendment form 1040x Form Not Correct If you receive a form with incorrect information on it, you should ask the payer for a corrected form. Tax amendment form 1040x Call the telephone number or write to the address given for the payer on the form. Tax amendment form 1040x The corrected Form W-2G or Form 1099 you receive will have an “X” in the “CORRECTED” box at the top of the form. Tax amendment form 1040x A special form, Form W-2c, Corrected Wage and Tax Statement, is used to correct a Form W-2. Tax amendment form 1040x In certain situations, you will receive two forms in place of the original incorrect form. Tax amendment form 1040x This will happen when your taxpayer identification number is wrong or missing, your name and address are wrong, or you received the wrong type of form (for example, a Form 1099-DIV instead of a Form 1099-INT). Tax amendment form 1040x One new form you receive will be the same incorrect form or have the same incorrect information, but all money amounts will be zero. Tax amendment form 1040x This form will have an “X” in the “CORRECTED” box at the top of the form. Tax amendment form 1040x The second new form should have all the correct information, prepared as though it is the original (the “CORRECTED” box will not be checked). Tax amendment form 1040x Form Received After Filing If you file your return and you later receive a form for income that you did not include on your return, you should report the income and take credit for any income tax withheld by filing Form 1040X, Amended U. Tax amendment form 1040x S. Tax amendment form 1040x Individual Income Tax Return. Tax amendment form 1040x Separate Returns If you are married but file a separate return, you can take credit only for the tax withheld from your own income. Tax amendment form 1040x Do not include any amount withheld from your spouse's income. Tax amendment form 1040x However, different rules may apply if you live in a community property state. Tax amendment form 1040x Community property states are listed in chapter 2. Tax amendment form 1040x For more information on these rules, and some exceptions, see Publication 555, Community Property. Tax amendment form 1040x Fiscal Years If you file your tax return on the basis of a fiscal year (a 12-month period ending on the last day of any month except December), you must follow special rules to determine your credit for federal income tax withholding. Tax amendment form 1040x For a discussion of how to take credit for withholding on a fiscal year return, see Fiscal Years (FY) in chapter 3 of Publication 505. Tax amendment form 1040x Estimated Tax Take credit for all your estimated tax payments for 2013 on line 63 of Form 1040 or line 37 of Form 1040A. Tax amendment form 1040x Include any overpayment from 2012 that you had credited to your 2013 estimated tax. Tax amendment form 1040x You must use Form 1040 or Form 1040A if you paid estimated tax. Tax amendment form 1040x You cannot use Form 1040EZ. Tax amendment form 1040x Name changed. Tax amendment form 1040x   If you changed your name, and you made estimated tax payments using your old name, attach a brief statement to the front of your paper tax return indicating: When you made the payments, The amount of each payment, Your name when you made the payments, and Your social security number. Tax amendment form 1040x The statement should cover payments you made jointly with your spouse as well as any you made separately. Tax amendment form 1040x   Be sure to report the change to the Social Security Administration. Tax amendment form 1040x This prevents delays in processing your return and issuing any refunds. Tax amendment form 1040x Separate Returns If you and your spouse made separate estimated tax payments for 2013 and you file separate returns, you can take credit only for your own payments. Tax amendment form 1040x If you made joint estimated tax payments, you must decide how to divide the payments between your returns. Tax amendment form 1040x One of you can claim all of the estimated tax paid and the other none, or you can divide it in any other way you agree on. Tax amendment form 1040x If you cannot agree, you must divide the payments in proportion to each spouse's individual tax as shown on your separate returns for 2013. Tax amendment form 1040x Divorced Taxpayers If you made joint estimated tax payments for 2013, and you were divorced during the year, either you or your former spouse can claim all of the joint payments, or you each can claim part of them. Tax amendment form 1040x If you cannot agree on how to divide the payments, you must divide them in proportion to each spouse's individual tax as shown on your separate returns for 2013. Tax amendment form 1040x If you claim any of the joint payments on your tax return, enter your former spouse's social security number (SSN) in the space provided on the front of Form 1040 or Form 1040A. Tax amendment form 1040x If you divorced and remarried in 2013, enter your present spouse's SSN in that space and write your former spouse's SSN, followed by “DIV,” to the left of Form 1040, line 63, or Form 1040A, line 37. Tax amendment form 1040x Underpayment Penalty for 2013 If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have an underpayment of estimated tax and you may have to pay a penalty. Tax amendment form 1040x Generally, you will not have to pay a penalty for 2013 if any of the following apply. Tax amendment form 1040x The total of your withholding and estimated tax payments was at least as much as your 2012 tax (or 110% of your 2012 tax if your AGI was more than $150,000, $75,000 if your 2013 filing status is married filing separately) and you paid all required estimated tax payments on time. Tax amendment form 1040x The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. Tax amendment form 1040x Your total 2013 tax minus your withholding and refundable credits is less than $1,000. Tax amendment form 1040x You did not have a tax liability for 2012 and your 2012 tax year was 12 months, or You did not have any withholding taxes and your current year tax less any household employment taxes is less than $1,000. Tax amendment form 1040x See Publication 505, chapter 4, for a definition of “total tax” for 2012 and 2013. Tax amendment form 1040x Farmers and fishermen. Tax amendment form 1040x   Special rules apply if you are a farmer or fisherman. Tax amendment form 1040x See Farmers and Fishermen in chapter 4 of Publication 505 for more information. Tax amendment form 1040x IRS can figure the penalty for you. Tax amendment form 1040x   If you think you owe the penalty but you do not want to figure it yourself when you file your tax return, you may not have to. Tax amendment form 1040x Generally, the IRS will figure the penalty for you and send you a bill. Tax amendment form 1040x However, if you think you are able to lower or eliminate your penalty, you must complete Form 2210 or Form 2210-F and attach it to your paper return. Tax amendment form 1040x See chapter 4 of Publication 505. Tax amendment form 1040x Prev  Up  Next   Home   More Online Publications
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The Tax Amendment Form 1040x

Tax amendment form 1040x Publication 501 - Additional Material Prev  Up  Next   Home   More Online Publications