Since March 2013, you can now track the status of your amended return using a new web or toll-free application. Go to IRS.gov and click on “Where’s My Amended Return,” or call 1-866-464-2050. With either application, you will need to provide your Taxpayer Identification Number (usually SSN), your date of birth, and your zip code.

The new telephone and web applications will provide information similar to “Where’s My Refund?” The new application will allow you to:
1. Confirm Receipt of a Form 1040X Filing;
2. Obtain an update of the current status of a Form 1040X Filing;
3. Receive an estimated time of completion.

You can find it at IRS.gov under the “Tools” tab or IRS.gov and click on “Where’s My Amended Return.”

Vincent Mangiapane, EA
Federal Analyst, Taxbrain

On the federal side, you can apply for an automatic extension to file your return any time before April 15, 2013. Using IRS Form 4868 extends your filing deadline to October 15, 2013. Filing an extension is quick and easy requiring only basic contact information and an estimate of your tax liability due.

Remember though, you are still required to pay any taxes due by April 15th in order to avoid possible penalties and interest. The tax extension provides you with time to file your paperwork but does NOT provide an extension to pay your taxes.

If you think you will need a tax extension then file it now and breathe easy knowing that you’ll have the extra six months to finish your return.

Not using Taxbrain yet? Get a free account today and get unlimited free technical support to help you finish your tax return or file an extension.

If you already filed and realize you need to make a change, here are some helpful tips on where to start!

If you prepared and filed your return on Taxbrain

Making changes is easy with these simple steps:

• Access the completed return in your Taxbrain account
• Click on the “Amend” link to the right of your completed return name
• Taxbrain will create the amended 1040X return and put it under “Unfinished Returns”
• Open the return, make your updates
• Print the return and mail it to the address provided

Need help? Contact our Customer Support team to get started at 1-866-Taxbrain (1-866-829-2724)!

If you didn’t use Taxbrain to prepare and file your return

No problem! We can help you prepare your amended return and we’ll waive all fees!
Contact our Customer Support team to get started at 1-866-Taxbrain (1-866-829-2724)!

Filing an Amended Return

1. Use Form 1040X if you filed your tax return using one of the following Forms: 1040, 1040A or 1040EZ. Along with this form, you’ll need to include:

• A copy of the return you are amending, supporting forms, schedules and any worksheets you completed;
• Any notices from the IRS on any adjustments to that return; and
• Instructions for the return you are amending. If you don’t have the instructions, you can order them by calling 1-800-TAX-FORM (1-800-829-3676) or find them online at www.irs.gov/formspubs.

2. Complete it by paper and mail it to the IRS address for filing Form 1040X.

3. For each year you are correcting, you’ll have to file and mail a separate amended return. Be sure to enter the year of the return you are amending at the top of Form 1040X.

4. If the changes involve another schedule or form, attach them to the amended return.

Finally, if you’re expecting a refund from a recently filed tax return, you must wait until you receive it before filing an amended return. Once you receive it, you may cash that check while waiting for any additional refund. Processing time for amended returns typically take 8-12 weeks.

If you owe additional balance, to avoid further late fees and penalties, include your payment with the 1040X Amended Return. Otherwise, contact the IRS directly to arrange a payment plan.

For complete details, see the IRS Instructions for 1040X.

Remember, if you’re a Taxbrain customer, we will help you prepare an amended return FREE. It’s easy – simply contact our Customer Support team.

Not using Taxbrain yet and still confused about amendments? Don’t worry – We will do our best to help you navigate through this complicated process. For more info, visit Taxbrain today.

1. Dependents. In most cases, you can claim a child as a dependent even if your child was born anytime in 2012.

2. Child Tax Credit. You may be able to claim the Child Tax Credit for each of your children that were under age 17 at the end of 2012. If you do not benefit from the full amount of the credit, you may be eligible for the Additional Child Tax Credit.

3. Child and Dependent Care Credit. You may be able to claim this credit if you paid someone to care for your child or children under age 13, so that you could work or look for work.

4. Earned Income Tax Credit. If you worked but earned less than $50,270 last year, you may qualify for EITC. If you have qualifying children, you may get up to $5,891 dollars extra back when you file a return and claim it.

5. Adoption Credit. You may be able to take a tax credit for certain expenses you incurred to adopt a child.

6. Higher education credits. If you paid higher education costs for yourself or an immediate family member, you may qualify for either the American Opportunity Credit or the Lifetime Learning Credit. Both credits may reduce the amount of tax you owe. If the American Opportunity Credit is more than the tax you owe, you could be eligible for a refund of up to $1,000.

7. Student loan interest. You may be able to deduct interest you paid on a qualified student loan, even if you do not itemize your deductions.

8. Self-employed health insurance deduction. If you were self-employed and paid for health insurance, you may be able to deduct premiums you paid to cover your child. It applies to children under age 27 at the end of the year, even if not your dependent. Visit www.IRS.gov/aca for information on the Affordable Care Act.

Taxbrain’s self-guided, flexible questionnaire asks you as series of questions. Based on your answers, it determines which tax credits and deductions are available for your situation. Get your free Taxbrain account today, and get the refund you deserve.

Source: IRS Tax Tip 2013-11

When starting a job, employers ask the new hire to fill out a Form W-4. That information goes into the payroll system and is used to determine the amounts withheld from each paycheck. Over time situations change and it’s up to us to change the information used to calculate our paychecks.

If your refund wasn’t what you expected or you had to pay taxes, you may be able to turn it around by making some adjustments to your withholding allocations.

The Form W-4 (Employee’s Withholding Allowance Certificate) includes a worksheet to help you figure out how much federal tax should be withheld from your paychecks. The information collected is specific to your personal tax situation and includes information pertaining to:

• Marital status, dependents and other allowances

You can modify your W-4 anytime your personal situation changes, and changing your W-4 will result in more or less taxes being withheld from your paycheck. Some of these life changes may include:

• Getting married or divorced
• Adding a child or other dependent to your household
• Having a child or other dependent leave your household
• Changing jobs or being unemployed for a portion of the year

If you feel that you should be getting a larger refund or need to have more money in your paycheck, you may need to adjust your allocations and submit a new From W-4 to your employer. Try modifying the number of withholding allowances on our W-4 calculator to see what works best for you.

All Systems Go!

The late start to the filing season and major changes to IRS and state filing systems has made 2013 a difficult year for America’s taxpayers. Typically, filing starts in mid-January with nearly all federal and state forms ready to process by the beginning of February. This year, the first returns could not be processed until the final days of January and even then many forms and schedules were delayed beyond that date.

The good news is that taxpayers that had been waiting to file can now get their returns done without worry that the IRS isn’t ready to process.

Remaining Tax Forms Now Being Processed:

• Form 3800 General Business Credit
• Form 4136 Credit for Federal Tax Paid on Fuels
• Form 5074 Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana Islands
• Form 5471 Information Return of U.S. Persons With Respect to Certain Foreign Corporations
• Form 5695 Residential Energy Credits
• Form 5735 American Samoa Economic Development Credit
• Form 5884 Work Opportunity Credit
• Form 6478 Credit for Alcohol Used as Fuel
• Form 6765 Credit for Increasing Research Activities
• Form 8396 Mortgage Interest Credit
• Form 8582 Passive Activity Loss Limitations
• Form 8820 Orphan Drug Credit
• Form 8834 Qualified Plug-in Electric and Electric Vehicle Credit
• Form 8844 Empowerment Zone and Renewal Community Employment Credit
• Form 8845 Indian Employment Credit
• Form 8859 District of Columbia First-Time Homebuyer Credit
• Form 8864 Biodiesel and Renewable Diesel Fuels Credit
• Form 8874 New Markets Credits
• Form 8900 Qualified Railroad Track Maintenance Credit
• Form 8903 Domestic Production Activities Deduction
• Form 8908 Energy Efficient Home Credit
• Form 8909 Energy Efficient Appliance Credit
• Form 8910 Alternative Motor Vehicle Credit
• Form 8911 Alternative Fuel Vehicle Refueling Property Credit
• Form 8912 Credit to Holders of Tax Credit Bonds
• Form 8923 Mine Rescue Team Training Credit
• Form 8932 Credit for Employer Differential Wage Payments
• Form 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit

The IRS is strongly urging taxpayers to only check on their refunds once a day. The agency notes that its systems are only updated once a day, usually overnight, and taxpayer account data will not change that frequently. Whether you check on the internet, IRS2go smartphone app or call the IRS, the information provided will be the same. The IRS also advises the best time to check is evenings and weekends.

When you check, you’ll need the following:

• Social Security number
• Filing status (married, single, head of household)
• Refund amount you’re expecting

With the convenience of checking on smartphones and tablets, there is the illusion that your refund status may be updated quicker; however, we’re talking about the IRS – not UPS. Refunds are still expected within 21 days for most taxpayers.

For more information, visit the IRS Press Center.

Step 1: File A Report
Identity theft has become so common that Federal and local authorities regularly coordinate to deal with this crime. If you think someone has stolen your identity, the Federal Trade Commission says to file an Identity Theft Report. Go to the FTC website and complete the online reporting form they have created. After doing that, take a printed copy of the FTC report to your local police.

An Identity Theft Report gives you some important rights and tools that can help you recover from the theft:

• Get fraudulent information removed from your credit report
• Stop a company from collecting debts that result from identity theft, or from selling the debt to another company for collection
• Place an extended fraud alert on your credit report
• Get information from companies about accounts the identity thief opened or misused

Step 2: Contact the Credit Reporting Companies
The IRS provides information at the helpful Taxpayer Guide to Identity Theft. Here the IRS lays out the steps you should take to avoiding or resolve tax problems that may arise from identity theft. They recommend contacting the credit bureaus right away.

Equifax
www.equifax.com
1-800-525-6285

Experian
www.experian.com
1-888-397-3742

TransUnion
www.transunion.com
1-800-680-7289

According to the FTC, the three national credit reporting companies keep records of your credit history. If someone has misused your personal or financial information, call one of the companies and ask for an initial fraud alert on your credit report. A fraud alert is free. You must provide proof of your identity. The company you call must tell the other companies about your alert.

Step 3: Contact your Bank and Credit Card Companies
Identity theft is a problem for banks and credit card companies, too. One study suggested that identity theft costs financial institutions more than $50 billion per year. Consumer protection laws often hold financial institutions for losses related to this crime and so they are eager to help you stop the crooks. For example, Visa International offers its own Identity Theft Assistance and partners with the identity theft consumer network Call For Action. You can reach them by calling 1-866-ID-HOTLINE, or 1-866-434-6854. They’ll walk you step-by-step through the process of regaining your identity.

Your Best Defense

Of course the best way to avoid the headaches of identity theft is to not be a victim. Protect your personal information, shred unnecessary documents that have your personal information and don’t carry your social security card, passport or birth certificate with you. A few simple steps today can save you a lot of trouble down the road. The good news is that businesses, financial institutions, and law enforcement are now more aware and willing to help victims than ever before.

This health care benefit program helps our customers save money on health care items that are not covered by insurance. Similar plans cost in excess of $150 per year, but we are providing our customers with a one year membership as a free gift. It’s our way of expressing appreciation for trusting us with your tax business.

How Do I Get Started?

As a Taxbrain customer, your membership will be activated after you’ve filed your tax return. To start saving, you will receive a temporary USAP Health Card membership ID card with your printed tax return. Then, watch your email for a permanent membership ID card that will have your User ID and Login information.

1. Simply go to usadvantageplans.com.
2. Click on the “Member Login” button in the upper left hand corner of the site.
3. Enter the username and password found on your member ID card.

Once logged in, you will have access to complete plan details and features such as:

• Pharmacy Tools – Find the cheapest prescriptions and pharmacies to get them.
• Vision Discounts – Locate providers and receive discounts on exams, eyewear, contacts and more.
• Dental Benefits – Locate providers and receive discounts on general dentistry and cleanings to root canals, crowns and orthodontia and more.
• Diabetic Supplies – Product packages based on a member’s testing needs with 60% savings off average retail prices and free shipping.
• Lab Testing Network – Convenient, confidential lab work with savings up to 80%. Find a lab near you from over 1,500 CLIA-certified medical reference labs centers nationally.
• MRI and CT Scans – Access to a large panel of radiologists and imaging specialists with over 2,900 outpatient radiology facilities throughout the United States.
• And more – including other great offers to help you save even more money!

If you are unable to access your materials online or if you have any questions about your membership, please call 1-866-325-3356. A customer service representative will be glad to assist you!

*This is not insurance nor is it intended to replace insurance. This discount card program contains a 30 day cancellation period. This plan provides discounts at certain healthcare providers for medical services. This plan does not make payments directly to the providers of medical services. The plan member is obligated to pay for all healthcare services but will receive a discount from those healthcare providers who have contracted with the discount plan organization. For a full list of disclosures, please click here. | Terms and Conditions | Discount Medical Plan Organization: New Benefits, Ltd., Attn: Compliance Department, PO Box 671309, Dallas, TX 75367-1309.

Tax Filers Delayed by Late Changes to These Forms Can Prepare Their Returns Now

Returns containing Form 4562 Depreciation & Amortization will be processed by the IRS on Sunday, February 10, 2013. Returns containing Form 8863 Education Credits will be processed by the IRS on Thursday, February 14, 2013. Taxbrain customers can complete and submit tax returns now.

The IRS will start accepting the remaining forms affected by the January legislation the first week of March. A specific date will be announced later. Most of those in this group file more complex tax returns and typically file closer to the deadline or obtain an extension. A full list of the forms that will be accepted the first week of March is available on IRS.gov.

FAQ

What Is IRS Form 8863 Education Credits?

IRS Form 8863 is used to file for two popular education tax credits – The American Opportunity Tax Credit and the Lifetime Learning Credit. These credits are designed to provide additional savings to college students and certain continuing education students. Approximately 12 million Americans receive one of these two credits.

What is IRS Form 4562 Depreciation & Amortization?

IRS Form 4562 is used by most small businesses that file using the Schedule C Profit or Loss From Business for Sole Proprietorships. Most Small Business returns use this form to take deductions for equipment purchases and to amortize the cost of large purchases over several years.

Learn more about the IRS e-file delay and these forms at the IRS Press Center.

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