Where can I find the 2017 federal income tax form?
Tax treatment of donations. Specific Organizations. Volunteer fire companies. ... 2017. Excise tax on executive compensation. Section 4960, added by Public Law 115-97, effective for tax years beginning after December 17, 2017, imposes an excise tax on an organization that pays to any covered employee more than $1 million in remuneration or pays ...
What are the qualified disasters for 2017 tax purposes?
Form 8937 (12-2017) Page 2 Part II Organizational Action (continued) 17 List the applicable Internal Revenue Code section(s) and subsection(s) upon which the tax treatment is based a 18 Can any resulting loss be recognized? a 19 Provide any other information necessary to implement the adjustment, such as the reportable tax year a Sign Here
Can I repay a 2016 or 2017 disaster distribution?
Introduction. This publication explains special tax law provisions to help taxpayers and businesses to recover from the impact of 2016 qualified disasters and 2017 qualified disasters attributable to Hurricane Harvey and Tropical Storm Harvey, Hurricane Irma, Hurricane Maria, and the California wildfires.
When do I have to file my tax return for Hurricane 2017-18?
Tax for Certain Children Who Have Unearned Income. Use Form 8615 PDF to figure the child's tax on unearned income over $2,200 if the child is under age 18, and in certain situations if the child is older (see below). Attach Form 8615 to the child’s tax return if all of the following conditions are met. The child's unearned income was more ...
Is Kentucky use tax due?
Kentucky use tax may be due on internet, mail order, or other out-of-state purchases made throughout the year. Please click here to see if you are required to report Kentucky use tax on your individual income tax return.
What form do you use to claim child care in Kentucky?
Kentucky taxpayers claiming the child and dependent care credit will claim this credit on Form 740 or 740-NP. The credit is claimed on line 24 of Form 740 or Form 740-NP by entering the amount of the federal credit from federal Form 2441 and multiplying by 20 percent.
What is the family size tax credit?
This credit is only available to taxpayers who are eligible to take the Family Size tax credit and have a family size of three or less. This credit was created for those taxpayers whose tax rate increased after HB 487 implemented a flat tax rate of 5%. This credit will be available for tax years 2019 and 2020.
Do you have to send 1099G to Kentucky?
If you received a Kentucky income tax refund last year, we’re required by federal law to send Form 1099-G to you to remind you that the state refund must be reported as income on your federal tax return if you itemize deductions.
What is a 1099 G?
Form 1099-G reflects all Kentucky refunds that were credited to you for last year, including refunds from amended returns and prior year returns. The form will include any or all of your refund that was applied to the following: 1 estimated tax account 2 use tax 3 child support debt 4 delinquent tax liability or another bill
What is Revenue Procedure 2015-21?
Revenue Procedure 2015–21 provides correction and disclosure procedures under which certain failures to meet the requirements of section 501 (r) will be excused for purposes of sections 501 (r) (1) and 501 (r) (2) (B). See Rev. Proc. 2015–21, 2015-13 I.R.B. 817, or later guidance.
When are 990-PF due?
Forms 990, 990-EZ, or 990-PF must be filed by the 15th day of the fifth month after the end of your organization's accounting period. Thus, for a calendar year taxpayer, Forms 990, 990-EZ, or 990-PF are due May 15 of the following year. If any due date falls on a Saturday, Sunday, or legal holiday, the return will be due the next business day.
What is tax revenue?
Tax revenues levied for the benefit of an organization and either paid to or spent on behalf of the organization, and. The value of services or facilities furnished by a governmental unit to an organization without charge (except services or facilities generally furnished to the public without charge).
When will the IRS accept 990-EZ?
For small exempt organizations, the legislation specifically allowed a postponement (“transitional relief”). For tax years ending before July 31, 2021, the IRS will accept either paper or electronic filing of Form 990-EZ, Short Form Return of Organization Exempt from Income Tax.
What is automatic revocation?
116-25, added a requirement that the IRS notify the organization after the organization has failed to file for two consecutive years. See Automatic Revocation, later, for more information, including applicability dates.
What is a Form 8871?
Use Form 8871, Political Organization Notice of Section 527 Status, if you are a political organization seeking to be treated as tax-exempt under section 527 unless an exception applies. See Political Organization Income Tax Return , later.
What is a conformed copy of a certificate of incorporation?
A conformed copy is a copy that agrees with the original and all amendments to it. If the original document required a signature, the copy should either be signed by a principal officer or, if not signed, be accompanied by a written declaration signed by an authorized officer of the organization. With either option, the officer must certify that the document is a complete and accurate copy of the original. A certificate of incorporation should be approved and dated by an appropriate state official.
What is a qualified 2016 distribution?
A qualified 2016 disaster distribution is any distribution you received from an eligible retirement plan made on or after January 1, 2016, and before January 1, 2018, if at any time during the calendar year 2016 your main home was located in a major disaster area declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act and you sustained an economic loss by reason of the events giving rise to such Presidential declaration. If the previous sentence applies to you, you can generally designate any distribution (including a periodic payment or a required minimum distribution) from an eligible retirement plan as a qualified 2016 disaster distribution, regardless of whether the distribution was made on account of a federally declared disaster in calendar year 2016. Qualified 2016 disaster distributions are permitted without regard to your need or the actual amount of your economic loss, described later.
Can you claim a qualified loss on a 4684?
Personal casualty losses resulting from federally declared disasters that occurred in 2016, as well as Hurricane Harvey or Tropical Storm Harvey, Hurricane Irma, Hurricane Maria, and the California wildfires that occurred in 2017, may be claimed as a qualified disaster loss on your Form 4684. You can deduct 2016 and 2017 qualified disaster losses for both regular and AMT purposes without itemizing other deductions on Schedule A. Moreover, your net casualty loss from these qualified disasters does not need to exceed 10% of your AGI to qualify for the deduction, but the $100 limit per casualty is increased to $500. See Qualified 2016 Disasters , later, for a list of 2016 federally declared disasters, and Qualified 2017 disaster losses next.
What is a qualified disaster in 2016?
A 2016 qualified disaster is a major disaster declared in calendar year 2016 for an area determined by the President of the United States under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act to warrant federal disaster assistance.
What is the 401 Act?
These disasters occurred in calendar year 2017 in areas determined by the President of the United States under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act to warrant federal disaster assistance. Not all 2017 federally declared disasters are considered 2017 qualified disasters.
Is Hurricane Harvey a covered disaster?
Hurricane Harvey (or Tropical Storm Harvey) Covered Disaster Area. A portion of the Hurricane Harvey disaster area has been designated by the IRS as a covered disaster area. The Hurricane Harvey (or Tropical Storm Harvey) covered disaster area covers the following counties and parishes in Louisiana and Texas.
What is the hurricane zone?
The term Hurricane Harvey disaster zone means that portion of the Hurricane Harvey disaster area determined by the President to warrant individual or individual and public assistance from the federal government by reason of Hurricane Harvey. The following counties are in the Hurricane Harvey disaster zone.
When did the California wildfires happen?
The California wildfire disaster area covers the area for which the President declared a major disaster between January 1, 2017, through January 18, 2018, because of the California wildfires. The California wildfire disaster area covers the entire state of California.
Tax for Certain Children Who Have Unearned Income
Use Form 8615 to figure the child's tax on unearned income over $2,200 if the child is under age 18, and in certain situations if the child is older (see below). Attach Form 8615 to the child’s tax return if all of the following conditions are met.
Parents' Election to Report Child's Interest and Dividends
You may be able to elect to report your child's interest, ordinary dividends, and capital gains distributions on your return. If you make this election, your child won't have to file a tax return. To make this election, attach Form 8814 to your Form 1040, Form 1040-SR or Form 1040-NR if your child meets all of the following conditions.
Additional Information
Refer to Publication 929, Tax Rules for Children and Dependents for more information, definitions, considerations, and the following issues:
When will the 80% limit be reinstated?
The 80% limitation is reinstated for tax years beginning on or after January 1, 2021. Another new law provides that for a tax year beginning on or after January 1, 2020, Utah exempts the amount of a forgiven Paycheck Protection Program loan from state corporate franchise and income tax.
Do you have to pay Illinois estimated taxes?
Employees that do not have Illinois income tax withheld may need to make estimated payments. Illinois estimated tax payments are required if employees reasonably expect their tax liability to exceed $1,000 after subtracting their Illinois withholding, pass-through withholding, and various tax credits.
When are sales tax and room occupancy taxes due?
The relief includes extending a deferral of regular sales tax, meals tax, and room occupancy taxes for “small businesses” due from March 2020 through April 2021. The due date for these taxes is being extended to May 2021.
When is a pro rated bond deductible?
As discussed, when a bond is issued at a discount, a pro-rated portion of the discount is reported as income by the taxpayer, every year until maturity. 1 When bonds are purchased at a premium (greater than $1,000 per bond), a pro-rated portion of the amount over par can be deducted annually, on the purchaser's tax return.
Is interest on government bonds taxable?
Government Bonds. The interest from Treasury bills, notes and bonds is taxable at the federal level, but not the state and local level. 1 Certain U.S.government agency securities are also taxable at the federal level, but exempt from state and local taxes.
Is interest on a Treasury note taxable?
The interest from Treasury bills, notes and bonds is taxable at the federal level, but not the state and local level. 1 Certain U.S.government agency securities are also taxable at the federal level, but exempt from state and local taxes.
What is zero coupon bond?
Zero-coupon bonds are issued by governments at discounts and they mature at par values, where the amount of the spread is divided equally among the number of years to maturity. They are consequently taxed as interest, just like any other original issue discount bond. 3 .
Do municipal bonds pay taxes?
However, those who buy municipal bonds in the secondary market, then later sell them, may be taxed at ordinary long- or short-term capital gains rates, for any incurred gains. Municipal bonds pay a commensurately lower rate than other bonds, as a result of their tax-free status. 8
Is corporate bond taxable?
Corporate Bonds. Deemed the simplest type of bond, from a tax perspective, corporate bonds are fully taxable at all levels. Because these bonds typically contain the highest level of default risk, they also pay the highest interest rates of any major category of bond.
Why are municipal bonds favored?
Municipal Bonds. Municipal bonds are often favored by high-income investors looking to reduce their taxable investment income. The interest from these bonds is tax free at the federal, state and local levels, as long as investors reside in the same state or municipality as the issuers.
