Tax Forms 2012
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Tax Forms 2012
Tax forms 2012 6. Tax forms 2012 How To Get Tax Help Table of Contents Low Income Taxpayer Clinics (LITCs). Tax forms 2012 Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Tax forms 2012 Free help with your tax return. Tax forms 2012 You can get free help preparing your return nationwide from IRS-certified volunteers. Tax forms 2012 The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Tax forms 2012 The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Tax forms 2012 Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Tax forms 2012 In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Tax forms 2012 To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Tax forms 2012 gov, download the IRS2Go app, or call 1-800-906-9887. Tax forms 2012 As part of the TCE program, AARP offers the Tax-Aide counseling program. Tax forms 2012 To find the nearest AARP Tax-Aide site, visit AARP's website at www. Tax forms 2012 aarp. Tax forms 2012 org/money/taxaide or call 1-888-227-7669. Tax forms 2012 For more information on these programs, go to IRS. Tax forms 2012 gov and enter “VITA” in the search box. Tax forms 2012 Internet. Tax forms 2012 IRS. Tax forms 2012 gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Tax forms 2012 Download the free IRS2Go app from the iTunes app store or from Google Play. Tax forms 2012 Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Tax forms 2012 Check the status of your 2013 refund with the Where's My Refund? application on IRS. Tax forms 2012 gov or download the IRS2Go app and select the Refund Status option. Tax forms 2012 The IRS issues more than 9 out of 10 refunds in less than 21 days. Tax forms 2012 Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Tax forms 2012 You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Tax forms 2012 The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Tax forms 2012 Use the Interactive Tax Assistant (ITA) to research your tax questions. Tax forms 2012 No need to wait on the phone or stand in line. Tax forms 2012 The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Tax forms 2012 When you reach the response screen, you can print the entire interview and the final response for your records. Tax forms 2012 New subject areas are added on a regular basis. Tax forms 2012 Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Tax forms 2012 gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Tax forms 2012 You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Tax forms 2012 The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Tax forms 2012 When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Tax forms 2012 Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Tax forms 2012 You can also ask the IRS to mail a return or an account transcript to you. Tax forms 2012 Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Tax forms 2012 gov or by calling 1-800-908-9946. Tax forms 2012 Tax return and tax account transcripts are generally available for the current year and the past three years. Tax forms 2012 Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Tax forms 2012 Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Tax forms 2012 If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Tax forms 2012 Check the status of your amended return using Where's My Amended Return? Go to IRS. Tax forms 2012 gov and enter Where's My Amended Return? in the search box. Tax forms 2012 You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Tax forms 2012 It can take up to 3 weeks from the date you mailed it to show up in our system. Tax forms 2012 Make a payment using one of several safe and convenient electronic payment options available on IRS. Tax forms 2012 gov. Tax forms 2012 Select the Payment tab on the front page of IRS. Tax forms 2012 gov for more information. Tax forms 2012 Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Tax forms 2012 Figure your income tax withholding with the IRS Withholding Calculator on IRS. Tax forms 2012 gov. Tax forms 2012 Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Tax forms 2012 Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Tax forms 2012 gov. Tax forms 2012 Request an Electronic Filing PIN by going to IRS. Tax forms 2012 gov and entering Electronic Filing PIN in the search box. Tax forms 2012 Download forms, instructions and publications, including accessible versions for people with disabilities. Tax forms 2012 Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Tax forms 2012 gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Tax forms 2012 An employee can answer questions about your tax account or help you set up a payment plan. Tax forms 2012 Before you visit, check the Office Locator on IRS. Tax forms 2012 gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Tax forms 2012 If you have a special need, such as a disability, you can request an appointment. Tax forms 2012 Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Tax forms 2012 Apply for an Employer Identification Number (EIN). Tax forms 2012 Go to IRS. Tax forms 2012 gov and enter Apply for an EIN in the search box. Tax forms 2012 Read the Internal Revenue Code, regulations, or other official guidance. Tax forms 2012 Read Internal Revenue Bulletins. Tax forms 2012 Sign up to receive local and national tax news and more by email. Tax forms 2012 Just click on “subscriptions” above the search box on IRS. Tax forms 2012 gov and choose from a variety of options. Tax forms 2012 Phone. Tax forms 2012 You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Tax forms 2012 Download the free IRS2Go app from the iTunes app store or from Google Play. Tax forms 2012 Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Tax forms 2012 gov, or download the IRS2Go app. Tax forms 2012 Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Tax forms 2012 The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Tax forms 2012 Most VITA and TCE sites offer free electronic filing. Tax forms 2012 Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Tax forms 2012 Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Tax forms 2012 Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Tax forms 2012 If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Tax forms 2012 The IRS issues more than 9 out of 10 refunds in less than 21 days. Tax forms 2012 Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Tax forms 2012 Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Tax forms 2012 The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Tax forms 2012 Note, the above information is for our automated hotline. Tax forms 2012 Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Tax forms 2012 Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Tax forms 2012 You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Tax forms 2012 It can take up to 3 weeks from the date you mailed it to show up in our system. Tax forms 2012 Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Tax forms 2012 You should receive your order within 10 business days. Tax forms 2012 Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Tax forms 2012 If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Tax forms 2012 Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Tax forms 2012 The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Tax forms 2012 These individuals can also contact the IRS through relay services such as the Federal Relay Service. Tax forms 2012 Walk-in. Tax forms 2012 You can find a selection of forms, publications and services — in-person. Tax forms 2012 Products. Tax forms 2012 You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Tax forms 2012 Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Tax forms 2012 Services. Tax forms 2012 You can walk in to your local TAC for face-to-face tax help. Tax forms 2012 An employee can answer questions about your tax account or help you set up a payment plan. Tax forms 2012 Before visiting, use the Office Locator tool on IRS. Tax forms 2012 gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Tax forms 2012 Mail. Tax forms 2012 You can send your order for forms, instructions, and publications to the address below. Tax forms 2012 You should receive a response within 10 business days after your request is received. Tax forms 2012 Internal Revenue Service 1201 N. Tax forms 2012 Mitsubishi Motorway Bloomington, IL 61705-6613 The Taxpayer Advocate Service Is Here to Help You. Tax forms 2012 The Taxpayer Advocate Service (TAS) is your voice at the IRS. Tax forms 2012 Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Tax forms 2012 What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Tax forms 2012 We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Tax forms 2012 You face (or your business is facing) an immediate threat of adverse action. Tax forms 2012 You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Tax forms 2012 If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Tax forms 2012 Here's why we can help: TAS is an independent organization within the IRS. Tax forms 2012 Our advocates know how to work with the IRS. Tax forms 2012 Our services are free and tailored to meet your needs. Tax forms 2012 We have offices in every state, the District of Columbia, and Puerto Rico. Tax forms 2012 How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Tax forms 2012 How else does TAS help taxpayers? TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Tax forms 2012 If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Tax forms 2012 Low Income Taxpayer Clinics (LITCs). Tax forms 2012 Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Tax forms 2012 Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Tax forms 2012 Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Tax forms 2012 Prev Up Next Home More Online Publications
Understanding Your CP268 Notice
We made changes to your return because we believe there is a miscalculation on your return. You have a potential overpayment credit because of this miscalculation.
What you need to do
- Read and review your notice carefully ― it will explain the change
- Compare our changes to the information on your tax return
- Call the toll-free number listed on your notice within 30 days to request a refund check or to apply the credit to other types of tax or tax periods
- Correct your copy of your tax return for your records
You may want to...
Answers to Common Questions
What do I do if I find an uncredited or misapplied payment?
Contact us at the toll-free number listed on your notice with your information. Our representative will discuss the issue with you and provide further instructions.
What choices do I have about what to do with my overpayment?
You can have your overpayment credit refunded to you or you can have it applied to other taxes or tax periods.
When can I expect to receive my refund?
You will receive it in four to six weeks if you respond to your notice within 30 days and if you owe no other taxes or debts we’re required to collect.
What can I do if I don't receive my refund in four to six weeks?
Call us at the toll-free number listed on the top right corner of your notice.
What do I do if I need to make a correction to my account?
Contact us at the toll-free number listed on your notice with your information. Our representative will discuss the issue with you and provide further instructions.
What do I need to do next year to get my refund through a direct deposit?
Complete a Form 8050, Direct Deposit of Corporate Tax Refund and attach it to your return next year when you file your Form 1120, U.S. Corporation Income Tax Return, or your Form 1120S, U.S. Income Tax Return for an S Corporation.
Tips for next year
Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions for which you may qualify. In many cases, you can file free. Learn more about how to file electronically here.
Understanding your notice
Your notice may look different from the sample because the information contained in your notice is tailored to your situation.
Notice CP268, Page 1
Notice CP268, Page 2
Notice CP268, Page 3
Page Last Reviewed or Updated: 30-Jan-2014
Printable samples of this notice (PDF)
Tax publications you may find useful
How to get help
- Call the 1-800 number listed on the top right corner of your notice.
- Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
- See if you qualify for help from a Low Income Taxpayer Clinic.
The Tax Forms 2012
Tax forms 2012 7. Tax forms 2012 Figuring Gross Profit Table of Contents Introduction Items To Check Testing Gross Profit AccuracyExample. Tax forms 2012 Additions to Gross Profit Introduction After you have figured the gross receipts from your business (chapter 5) and the cost of goods sold (chapter 6), you are ready to figure your gross profit. Tax forms 2012 You must determine gross profit before you can deduct any business expenses. Tax forms 2012 These expenses are discussed in chapter 8. Tax forms 2012 If you are filing Schedule C-EZ, your gross profit is your gross receipts plus certain other amounts, explained later under Additions to Gross Profit. Tax forms 2012 Businesses that sell products. Tax forms 2012 If you are filing Schedule C, figure your gross profit by first figuring your net receipts. Tax forms 2012 Figure net receipts (line 3) on Schedule C by subtracting any returns and allowances (line 2) from gross receipts (line 1). Tax forms 2012 Returns and allowances include cash or credit refunds you make to customers, rebates, and other allowances off the actual sales price. Tax forms 2012 Next, subtract the cost of goods sold (line 4) from net receipts (line 3). Tax forms 2012 The result is the gross profit from your business. Tax forms 2012 Businesses that sell services. Tax forms 2012 You do not have to figure the cost of goods sold if the sale of merchandise is not an income-producing factor for your business. Tax forms 2012 Your gross profit is the same as your net receipts (gross receipts minus any refunds, rebates, or other allowances). Tax forms 2012 Most professions and businesses that sell services rather than products can figure gross profit directly from net receipts in this way. Tax forms 2012 Illustration. Tax forms 2012 This illustration of the gross profit section of the income statement of a retail business shows how gross profit is figured. Tax forms 2012 Income Statement Year Ended December 31, 2013 Gross receipts $400,000 Minus: Returns and allowances 14,940 Net receipts $385,060 Minus: Cost of goods sold 288,140 Gross profit $96,920 The cost of goods sold for this business is figured as follows: Inventory at beginning of year $37,845 Plus: Purchases $285,900 Minus: Items withdrawn for personal use 2,650 283,250 Goods available for sale $321,095 Minus: Inventory at end of year 32,955 Cost of goods sold $288,140 Items To Check Consider the following items before figuring your gross profit. Tax forms 2012 Gross receipts. Tax forms 2012 At the end of each business day, make sure your records balance with your actual cash and credit receipts for the day. Tax forms 2012 You may find it helpful to use cash registers to keep track of receipts. Tax forms 2012 You should also use a proper invoicing system and keep a separate bank account for your business. Tax forms 2012 Sales tax collected. Tax forms 2012 Check to make sure your records show the correct sales tax collected. Tax forms 2012 If you collect state and local sales taxes imposed on you as the seller of goods or services from the buyer, you must include the amount collected in gross receipts. Tax forms 2012 If you are required to collect state and local taxes imposed on the buyer and turn them over to state or local governments, you generally do not include these amounts in income. Tax forms 2012 Inventory at beginning of year. Tax forms 2012 Compare this figure with last year's ending inventory. Tax forms 2012 The two amounts should usually be the same. Tax forms 2012 Purchases. Tax forms 2012 If you take any inventory items for your personal use (use them yourself, provide them to your family, or give them as personal gifts, etc. Tax forms 2012 ) be sure to remove them from the cost of goods sold. Tax forms 2012 For details on how to adjust cost of goods sold, see Merchandise withdrawn from sale in chapter 6. Tax forms 2012 Inventory at end of year. Tax forms 2012 Check to make sure your procedures for taking inventory are adequate. Tax forms 2012 These procedures should ensure all items have been included in inventory and proper pricing techniques have been used. Tax forms 2012 Use inventory forms and adding machine tapes as the only evidence for your inventory. Tax forms 2012 Inventory forms are available at office supply stores. Tax forms 2012 These forms have columns for recording the description, quantity, unit price, and value of each inventory item. Tax forms 2012 Each page has space to record who made the physical count, who priced the items, who made the extensions, and who proofread the calculations. Tax forms 2012 These forms will help satisfy you that the total inventory is accurate. Tax forms 2012 They will also provide you with a permanent record to support its validity. Tax forms 2012 Inventories are discussed in chapter 2. Tax forms 2012 Testing Gross Profit Accuracy If you are in a retail or wholesale business, you can check the accuracy of your gross profit figure. Tax forms 2012 First, divide gross profit by net receipts. Tax forms 2012 The resulting percentage measures the average spread between the merchandise cost of goods sold and the selling price. Tax forms 2012 Next, compare this percentage to your markup policy. Tax forms 2012 Little or no difference between these two percentages shows that your gross profit figure is accurate. Tax forms 2012 A large difference between these percentages may show that you did not accurately figure sales, purchases, inventory, or other items of cost. Tax forms 2012 You should determine the reason for the difference. Tax forms 2012 Example. Tax forms 2012 Joe Able operates a retail business. Tax forms 2012 On the average, he marks up his merchandise so that he will realize a gross profit of 331/3% on its sales. Tax forms 2012 The net receipts (gross receipts minus returns and allowances) shown on his income statement is $300,000. Tax forms 2012 His cost of goods sold is $200,000. Tax forms 2012 This results in a gross profit of $100,000 ($300,000 − $200,000). Tax forms 2012 To test the accuracy of this year's results, Joe divides gross profit ($100,000) by net receipts ($300,000). Tax forms 2012 The resulting 331/3% confirms his markup percentage of 331/3%. Tax forms 2012 Additions to Gross Profit If your business has income from a source other than its regular business operations, enter the income on line 6 of Schedule C and add it to gross profit. Tax forms 2012 The result is gross business income. Tax forms 2012 If you use Schedule C-EZ, include the income on line 1 of the schedule. Tax forms 2012 Some examples include income from an interest-bearing checking account, income from scrap sales, income from certain fuel tax credits and refunds, and amounts recovered from bad debts. 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