...COVER PAGE Filing Checklist For 2010 Tax Return Filed On Standard Forms Prepared on: 08/11/2011 07:03:55 am Return: C:\Users\user\Documents\HRBlock\Alfred Old 2010 Tax Return.T10 To file your 2010 tax return, simply follow these instructions: Step 1 - Sign and date the return Because you're filing a joint return, Alfred and Beulah both need to sign the tax return. If your return is signed by a representative for you, you must have a power of attorney attached that specifically authorizes the representative to sign your return. To do this, you can use Form 2848, Power of Attorney and Declaration of Representative. Step 2 - Assemble the return These forms should be assembled behind Form 1040 --U.S. Individual Income Tax Return - Schedule A - Schedule M Staple these documents to the front of the first page of the return: Form W-2: Wage and Tax Statement 1st (Cherry, Inc.) 2nd (Legal Aid Society, Inc.) Step 3 - Mail the return Mail the return to this address: Department of the Treasury Internal Revenue Service [If filing before July 1, 2011:] Atlanta, GA 39901-0002 [If filing after June 30, 2011:] Kansas City, MO 64999-0002 We recommend that you use one of these IRS-approved methods to send your return. Retain the proof of mailing to avoid a late filing penalty: - U.S. Postal Service certified mail. - DHL Same Day Service. - FedEx Priority Overnight, Standard Overnight, 2Day, International Priority, or International First. - United Parcel Service Next Day Air, Next Day Air Saver...
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...COVER PAGE Filing Checklist For 2008 Tax Return Filed On Standard Forms Prepared on: 06/14/2009 11:09:19 pm Return: C:\Users\David\Documents\TaxCut\Gloria Ramsay 2008 Tax Return.T08 To file your 2008 tax return, simply follow these instructions: Step 1 - Sign and date the return If your return is signed by a representative for you, you must have a power of attorney attached that specifically authorizes the representative to sign your return. To do this, you can use Form 2848, Power of Attorney and Declaration of Representative. Step 2 - Assemble the return These forms should be assembled behind Form 1040A --U.S. Individual Income Tax Return - Schedule 2 - Form 8812 Staple these documents to the front of the first page of the return: Form W-2: Wage and Tax Statement 1st (News Shopping Network) Step 3 - Mail the return Mail the return to this address: Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0015 We recommend that you use one of these IRS-approved methods to send your return. Retain the proof of mailing to avoid a late filing penalty: - U.S. Postal Service certified mail. - DHL Same Day Service, Next Day 10:30 am, Next Day 12:00 pm, Next Day 3:00 pm, or 2nd Day Service. - FedEx Priority Overnight, Standard Overnight, 2Day, International Priority, or International First. - United Parcel Service Next Day Air, Next Day Air Saver, 2nd Day Air, 2nd Day Air A.M., Worldwide Express Plus, or Worldwide Express. Step 4 - Keep a copy Print a second copy...
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...IRS RETURN PREPARER TEST SPECIFICATIONS Revised August 11, 2011 Preface It is the goal of the IRS to administer a test that is founded on basic preparer competency. As such, the Registered Tax Return Preparer (RTRP) test will focus on the ethical responsibilities of federal tax return preparers and the completion of Form 1040 series along with the basic related schedules and forms. The test specifications provided below are intended to provide guidance on the content of the RTRP test. The examples provided within each item are not all inclusive of what may be tested in a given area. Tax preparers are required to pass this competency test in order to achieve the title of Registered Tax Return Preparer. Domain 1: Preliminary Work and Collection of Taxpayer Data 1. Review prior year’s return for accuracy, comparison, and carryovers for current year return. 2. Collect taxpayer’s biographical information (e.g., date of birth, age, marital status, citizenship, dependents) 3. Determine filing status 4. Determine all sources of taxable and non-taxable income (e.g., wages, interest, business, sale of property, dividends, rental income, income from flow-through entities, alimony, government payments, and pension distributions). 5. Determine applicable adjustments to gross income (e.g., self-employed health insurance, self employment tax, student loan interest deduction, alimony paid, tuition, and fees deduction). 6. Determine standard deduction and Schedule A itemized deductions (i.e....
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...Name ACC 401 – Federal Income Taxes Teacher Date Federal Income Taxes In order to complete the Federal Income Taxes necessary for this couple, there are multiple specific items that needed to be taken care of and specific forms that needed to be used. In the case of many Federal Income Taxes, these specific things occur taxpayer by taxpayer and will need to be taken on a case by case basis in order to best determine the route necessary to be taken to ensure the correct information is given and the correct tax return is received. Following the proper procedure in each case will ensure the correct return and proper information to be given to the IRS. For this specific return, the form for a married return, filing jointly was used. This means a Form 1040 was necessary in this case, as it allows for a married filing jointly return with itemized deductions and credits. The stumbling points in this return fall to the IRA contributions and the healthcare costs. In the case of the IRA contributions, Box 12 from the W-2 is necessary to be used to account for the payroll deductions that take place. For the Healthcare payroll deduction contributions, Box 14 must be used on the 1040 Form. Now, a tricky point was the addition of SDI, or mandatory disability insurance, that needed to be added to box 14 as well, since the deduction is something that is required in California. Once the specifics for the standard income are set, once must move on to the...
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...Form Department of the Treasury - Internal Revenue Service 1040A Your first name and initial U.S. Individual Income Tax Return Last name (99) 2013 IRS Use Only - Do not write or staple in this space. OMB No. 1545-0074 Your social security number Robert If a joint return, spouse's first name and initial Greene Last name 412-34-5670 Spouse's social security number Vilma 1001 N.W. 93 Street Greene Apt. no. 412-34-5671 Make sure the SSN(s) above and on line 6c are correct. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund. Home address (number and street). If you have a P.O. box, see instructions. City, town or post office, state and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Miami, FL 33168 Foreign country name Foreign province/state/county Foreign postal code X You X Spouse Filing status Check only one box. 1 2 3 6a X X X Exemptions b If more than six dependents, see Instructions. 4 Single Head of household (with qualifying person). (See instr.) If the qualifying person is a child but not your dependent, Married filing jointly (even if only one had income) enter this child's name here. Married filing separately. Enter spouse's SSN above and 5 full name here. Qualifying widow(er) with dependent child (see instructions) Boxes Yourself. If...
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...S. Individual Income Tax Return For the year Jan. 1–Dec. 31, 2014, or other tax year beginning Your first name and initial , 2014, ending MELISSA IRS Use Only—Do not write or staple in this space. See separate instructions. Last name DOWDY If a joint return, spouse’s first name and initial OMB No. 1545-0074 , 20 Last name Your social security number 256 47 4410 Spouse’s social security number Apt. no. Home address (number and street). If you have a P.O. box, see instructions. Make sure the SSN(s) above and on line 6c are correct. 12821 SNOWVIEW CT City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). VICTORVILLE, CA 92392 Foreign country name Filing Status Check only one box. Exemptions Foreign province/state/county 1 2 3 6a b c Single Married filing jointly (even if only one had income) X Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child’s name here. 5 Qualifying widow(er) with dependent child Yourself. If someone can claim you as a dependent, do not check box 6a . Spouse . Dependents: . . . . . . . . . . . (2) Dependent’s social security number Last name JUAN FERNANDEZ JR MALLORY G FERNANDEZ JOHNNY FERNANDEZ d X 4 Married filing separately. Enter spouse’s...
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...gl 040 U.S. Individual Income Tax Return Department of the Treasury - Internal Revenue Service For the year Jan. 1 - Dec. 31, 2013, or other tax year beginning (99) 12013 ,2013, ending _ OMB No. 1545 - 0074 ,20 IRS Use Only Do not write or staple in this space. See separate instructions. Your social security number Your first name and initial Last name JERAD GADDY If a joint return, spouse's first name and initial Last name 072-70-1163 Spouse's social security number Home address (number and street). If you have a P.O. box, see instructions. Apt. no. 702 CHURCH ST City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). A Make sure the SSN(s) above and on line 6c are correct. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax — or refund. — EATONTON GA 31024 Foreign country name Foreign province/county Foreign postal code You Spouse Filing Status Check only one box. 1 2 3 Single 4 Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child's name here. ► ri Married filing separately. Enter spouse's SSN above and full name here. Married filing jointly (even if only one had income) Exemptions 6a b Qualifying widow(er) with dependent child...
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...SCHEDULE M (Form 1040A or 1040) Department of the Treasury Internal Revenue Service (99) Making Work Pay Credit ▶ Attach to Form 1040A or 1040. ▶ See separate instructions. OMB No. 1545-0074 2010 Attachment Sequence No. 166 Name(s) shown on return Your social security number 1 (e) You are filing Form 2555 or 2555-EZ. a Important: Check the “No” box on line 1a and see the instructions if: Do you (and your spouse if filing jointly) have 2010 wages of more than $6,451 ($12,903 if married filing jointly)? Yes. Skip lines 1a through 3. Enter $400 ($800 if married filing jointly) on line 4 and go to line 5. No. Enter your earned income (see instructions) ....... 1a b Nontaxable combat pay included on line 1a (see instructions) ......... 1b 2 Multiply line 1a by 6.2% (.062) .............. 2 3 Enter $400 ($800 if married filing jointly) ........... 3 4 Enter the smaller of line 2 or line 3 (unless you checked “Yes” on line 1a) ......... 4 5 Enter the amount from Form 1040, line 38*, or Form 1040A, line 22 .. 5 6 Enter $75,000 ($150,000 if married filing jointly) ........ 6 7 Is the amount on line 5 more than the amount on line 6? No. Skip line 8. Enter the amount from line 4 on line 9 below. Yes. Subtract line 6 from line 5 ............ 7 8 Multiply line 7 by 2% (.02) ........................ 8 9 Subtract line 8 from line 4. If zero or less, enter -0- ................ 10 Did you (or your spouse, if filing jointly) receive an economic recovery...
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...BARBARA K. CEGAVSKE Secretary of State 202 North Carson Street Carson City, Nevada 89701-4201 (775) 684-5708 Website: www.nvsos.gov Articles of Incorporation of(Name of Close Corporation)A Close Corporation(PURSUANT TO NRS CHAPTER 78A) | (Name of corporation MUST appear in the above heading) ABOVE SPACE IS FOR OFFICE USE ONLY USE BLACK INK ONLY - DO NOT HIGHLIGHT . Name of Close 1 Corporation: 2 . Registered Agent for Service of Process: (check only one box) Commercial Registered Agent: Noncommercial Registered Agent name and address below ) ( Name Office or Position with Entity ) name and address below ( Nevada eet Address Str City Zip Code Zip Code City ling Address (if different from street address) Mai Na me of Noncommercial Registered Agent OR Name of Title of Office or Other Position with Entity Nevada . Authorized 3 Stock: number of ( shares corporation is authorized to issue) N umber of sh ares with pa r value: Par valu e per shar e: $ Number of shares without par value: State eet Address Str City Zip Code Name 1) 2) State Street Address City Zip Code Name : . Purpose 6 (optional; see instructions) The purpose of the corporation shall be: State Address City Zip Code X Incorporator Signature Name X Authorized Signature of Registered Agent or On Behalf of Registered Agent Entity Date I hereby accept appointment as Registered Agent for the above named Entity. 8 Name...
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...Form 1040 Department of the Treasury - Internal Revenue Service (99) U.S. Individual Income Tax Return Last name 2012 OMB No. 1545-0074 , 2012, ending , 20 IRS Use Only-Do not write or staple in this space. For the year Jan. 1-Dec. 31, 2012, or other tax year beginning Your first name and initial See separate instructions. Your social security number Same A If a joint return, spouse's first name and initial Morris Last name 741-85-2963 Spouse's social security number Sarah B Home address (number and street). Morris Apt. no. 321-65-4987 Make sure the SSN(s) above and on line 6c are correct. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund. 54321 Gala Avenue City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Tyler Foreign country name TX 1 2 3 Single X Married filing jointly (even if only one had income) Married filing separately. Enter spouse's SSN above and full name here. 75701 Foreign postal code Foreign province/state/county You Spouse Filing Status Check only one box. 4 Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child's name here. 5 Qualifying widow(er) with dependent child Boxes checked on 6a and 6b No...
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...2010 Instructions for Form 2441 (Rev. January 2011) Child and Dependent Care Expenses Purpose of Form If you paid someone to care for your child or other qualifying person so you (and your spouse if filing jointly) could work or look for work in 2010, you may be able to take the credit for child and dependent care expenses. You (and your spouse if filing jointly) must have earned income to take the credit. But see Spouse Who Was a Student or Disabled on page 4. If you can take the credit, use Form 2441 to figure the amount of your credit. If you (or your spouse if filing jointly) received any dependent care benefits for 2010, you must use Form 2441 to figure the amount, if any, of the benefits you can exclude from your income on Form 1040, line 7, Form 1040A, line 7, or Form 1040NR, line 8. You must complete Part III of Form 2441 before you can figure the credit, if any, in Part II. Additional information. See Pub. 503, Child and Dependent Care Expenses, for more details. Department of the Treasury Internal Revenue Service If you are divorced or separated, see Special rule for children of divorced or separated parents below. To find out who is a qualifying child and who is a dependent, see Pub. 501, Exemptions, Standard Deduction, and Filing Information. CAUTION ! To be a qualifying person, the person must have lived with you for more than half of 2010. Definitions Dependent Care Benefits Dependent care benefits include: • Amounts your employer paid directly...
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...Final Paper on Tax Return Paper Assignment Linda Goethe ACC 401: Federal Income Taxes I Instructor: Arlene Rivero July 30, 2012 I used Form 1040 because Appendix A called for a Married filing jointly return, with credits and Itemized Deductions. This return was a tad tricky until I realized that the W2 information required me to utilized Box 12 for the IRA (k) contribution (payroll deductions) and Box 14 for the Healthcare costs (payroll deductions). Also; tricky situation occurred that I am not accustomed to. I needed to add to Box 14 for the SDI (mandatory disability insurance). It appears that California requires this deduction. Living and filing out my own income taxes forms in Utah, I never had to work with a mandatory SDI deduction before. Once I figured out the income from the W-2’s ($90,916.00 from line 7, on form 1040), I then needed to figure out the income from the sales of their home. I should have received a Form 1099-S from the sale of the primary residence. I then proceeded to figure out the gain on the sale of the home and ascertain if it should be taxed. According to the IRS: Gain: 1. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases). 2. If you can exclude all of the gain, you do not need to report the sale on your tax return. 3. If you have gain that cannot be excluded, it is taxable. Report it on Schedule D (Form 1040) (IRS...
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...your questions pertaining to your taxes. I have analyzed the information you provided to my agency and would like to address the following specific issues and recommend alternative strategies to reduce your personal tax liability. First, I’d like to address Mr. Smith’s issues. 1(a). How is the $300,000 treated for purposes of federal tax income? The $300,000 is earned income for you and will be reported as gross income either on the Schedule C of the individual return or as gross income on the LLC tax return for the law firm. The reason why it could be either is a result of different state laws specifying what a single person LLC can report on a business return. For the states that don't allow separate reporting, the LLC is said to be 'transparent,' meaning it does not report separately from the individual. (1) 1(b). How is the $25,000 treated for purposes of federal tax income? The $25,000 advance for expenses would have been classified as a client advance two years ago and reported as a deductible expense on this year’s tax return due to the GAAP matching principle. This year, when the $25,000 is reimbursed, the revenue minus the expense equals zero. In other words, there is no net taxable income to report. 1(c). What is your determination regarding reducing the taxable amount of income for both (a) and (b) above? If the income was received in 2011, there is little you can do now to minimize the tax consequence, except to claim all allowable deductions. Since...
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...CHAPTER 3 INDIVIDUAL TAXATION Individual Taxation—An Overview[->0] OBJECTIVES After completing Chapter 3, you should be able to: 1. Understand the components of the tax formula. 2. Apply the standard deduction to each filing status. 3. Determine whether an individual qualifies as a personal exemption. 4. Distinguish among the five different filing statuses. 5. Apply the tax tables and the tax rate schedules to taxable income. OVERVIEW This chapter discusses the components of the tax formula and studies the implications of the standard deduction to the taxpayer. Additionally, the qualifications for the personal exemption are analyzed. Finally, the basic filing statuses are examined as well as the role of the tax tables and the tax rate schedules. ¶3001 COMPONENTS OF THE TAX FORMULA[->1] Taxable income is computed using one of the two overall accounting methods, the cash method or the accrual method. It is also possible to use a combination of the two overall methods. Under the cash method, income is reported when it is received and deductions are taken when the expense is paid. The accrual method requires income to be reported when all the events necessary to fix the right to receive payment have occurred and there is reasonable certainty regarding the amount. Likewise, accrual basis taxpayers usually claim a deduction in the year in which all events that fix the liability have occurred, provided the amount of the liability is reasonably determinable. A basic understanding...
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...Regressive tax structure: tax rate decreases as the tax base increases * Social security tax system is this way * Average tax rate: total tax paid on a certain amount of taxable income * Marginal tax rate: rate of tax paid on the highest dollar of income Calculation of Tax: Income - deductions = taxable income X tax rates = tax liability - tax payments/credits = tax refund or due with return * For TI up to $100,000 use tax tables * Use tax rate schedules for higher income * Tax rate tables are calculated at midpoint of range; rate schedules are precise Tax Forms: * 1040EZ must be: * Single or married filing jointly * Taxable income less than $100,000 * Have no dependents * May only have income from wages, unemployment and interest * 1040A must be: * Any of 5 filing statuses and have dependents * Income limited to $100,000 * May have more interest, dividends and capital gains * Has most deductions * 1040 is most comprehensive, full form Filing Return: * Tax liability is generally paid throughout the year through withholding tax payments deducted from wages * Also reported on W-2 * Estimated tax payments made by self-practitioners (4 equal payments) * Low income taxpayers may be eligible for...
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