What’s New for 2005

• Qualifying child—New definition
• Foster child—New rules.
• Dependents cannot claim exemptions for dependents.
• Hurricane Katrina Tax Relief.
• Domestic production activities deduction.
• IRA deduction expanded.
• Earned income credit (EIC).
• Standard mileage rates.
• Elective salary deferrals.
• Certain deductions reordered.
• Mailing your return.

What To Look for in 2006

• Personal exemption and itemized deduction phaseouts reduced.
• IRA deduction expanded for certain people.
• Residential energy credit—New.
• Alternative motor vehicles.
• Clean renewable energy bond credit— New.
• Certain credits no longer allowed against alternative minimum tax (AMT).
• AMT exemption amount decreased.
• Educator expense deduction expires.
• Tuition and fees deduction expires.
• District of Columbia first-time homebuyer credit expires.

Do You Have To File?

• Chart A: For Most People
• Chart B: For Children and Other Dependents
• Chart C: Other Situations When You Must File
• Exception for Children Under Age 14
• Resident Aliens
• Nonresident Aliens and Dual-Status Aliens

When Should You File?

• What if You Cannot File on Time?

Where Do You File?

• Where Do You File?

Where to Report Certain Items from 2006 Forms W-2, 1098, & 1099

• Where to Report Certain Items From 2005 Forms W-2s, 1098, and 1099s
• Where to Report Certain Items From 2005 Forms W-2s, 1098, and 1099s (cont.)
• Private Delivery Services

Name & Address

• Use the Peel-Off Label
• Address Change
• Name Change
• What If You Do Not Have a Label?
• P.O. Box
• Foreign Address
• Death of a Taxpayer

Social Security Number (SSN)

• Social Security Number (SSN)
• IRS Individual Taxpayer Identification Numbers (ITINs) for Aliens
• Nonresident Alien Spouse

Presidential Election Campaign Fund

• Presidential Election Campaign Fund

Filing Status

• Filing Status
• Line 1 - Single
• Line 2 - Married Filing Jointly
• Line 3 - Married Filing Separately
• Line 4 - Head of Household
• Line 5 - Qualifying Widow(er) With Dependent Child

Exemptions

• Line 6b - Spouse
• Line 6c - Dependents
• Definitions and Special Rules

Income

• Foreign-Source Income
• Foreign Retirement Plans
• Community Property States
• Line 7 - Wages, Salaries, Tips, etc.
• Line 8a - Taxable Interest
• Line 8b - Tax-Exempt Interest
• Line 9 - Ordinary Dividends
• Line 9b - Qualified Dividends
• Line 10 - Taxable Refunds, Credits, or Offsets of State & Local Income Taxes
• State and Local Income Tax Refund Worksheet--Line 10
• Line 11 - Alimony Received
• Line 12 - Business Income or (Loss)
• Line 13 - Capital Gain or (Loss)
• Line 14 - Other Gains or (Losses)
• Lines 15a and 15b - IRA Distributions
• Lines 16a and 16b - Pensions and Annuities
• Simplified Method
• Cost
• Rollovers
• Lump-Sum Distributions
• Simplified Method Worksheet--Lines 16a & 16b
• Line 19 - Unemployment Compensation
• Lines 20a and 20b - Social Security Benefits
• Social Security Benefits Worksheet--Lines 20a & 20b
• Line 21 - Other Income

Examples of income to report

Adjusted Gross Income

• Line 23 - Educator Expenses
• Line 24 - AGI_Reservists_Artists_Government
• Line 25 - Health Savings Account Deduction
• Line 26 - Moving Expenses
• Student Loan Interest Deduction Worksheet--Line 26
• Line 27 - One-Half of Self-Employment Tax
• Line 28 - Self-Employed SEP, SIMPLE and Qualified Plans
• Line 29 - Self-Employed Health Insurance Deduction
• Self-Employed Health Insurance Deduction Worksheet--Line 29
• Line 30 - Penalty on Early Withdrawal of Savings
• Line 31a and 31b - Alimony Paid
• Line 32 - IRA Deduction
• IRA Deduction Worksheet--Line 32
• Line 33 - Student Loan Interest Deduction
• Lines 34 - Tuition and Fees Deduction
• Line 35 - Domestic Production Activities Deduction
• Line 36

Tax and Credits

• Line 39a
• Blindness
• Line 39b
• Line 40 - Itemized Deductions or Standard Deduction
• Standard Deduction Chart for People Age 65 or Older or Blind--Line 40
• Standard Deduction Worksheet for Dependents--Line 40
• Deduction for Exemptions Worksheet--Line 42
• Line 42 - Exemptions
• Line 44 - Tax
• Line 45 - Alternative Minimum Tax
• Worksheet to See if You Should Fill in Form 6251 - Line 45
• Line 47 - Foreign Tax Credit
• Line 48 - Credit for Child and Dependent Care Expenses
• Line 49 - Credit for the Elderly or the Disabled
• Line 50 - Education Credits
• Line 51 - Retirement Savings Contributions Credit
• Line 52 - Child Tax Credit
  • Child Tax Credit Pub 972 Questionnaire
  • Line 51 - Retirement Savings Contributions Credit
  • Child Tax Credit Worksheet--Line 52
• Line 53 - Adoption Credit
• Line 54
• Line 55 - Other Credits

Other Taxes

• Line 59 - Social Security and Medicare Tax on Tip Income Not Reported to Employer
• Line 60 - Additional Tax on IRAs, Other Qualified Retirement Plans, etc.
• Line 61 - Advance Earned Income Credit Payments
• Line 62 - Household Employment Taxes
• Line 63 - Total Tax

Payments

• Line 64 - Federal Income Tax Withheld
• Line 65 - 2005 Estimated Tax Payments
• Line 66a and 65b - Earned Income Credit (EIC)
• Earned Income Credit: Instructions, Steps 1 & 2
• Earned Income Credit: Instructions, Steps 3 & 4
• Earned Income Credit: Instructions, Steps 5 & 6
• Earned Income Credit: Instructions, Details
• Earned Income Credit: Worksheet A
• Earned Income Credit: Worksheet B
• Earned Income Credit: Worksheet B (Cont.)
• Earned Income Credit: Table - from $1 to $5,500
• Earned Income Credit: Table - from $5,500 to $11.500
• Earned Income Credit: Table - from $11,500 to $18,100
• Earned Income Credit: Table - from $18,100 to $24.100
• Earned Income Credit: Table - from $24,100 to $30,100
• Earned Income Credit: Table - from $30,100 to $36,100
• Earned Income Credit: Table - from $36,100 to $37,263 or More
• Line 67 - Excess Social Security and Tier 1 RRTA Tax Withheld
• Line 68 - Additional Child Tax Credit
• Line 69 - Amount Paid With Request for Extension To File
• Line 70- Other Payments

Refund

• Line 72 - Amount Overpaid
• Lines 73b Through 73d - Direct Deposit of Refund
• Line 73b
• Line 73d
• Lines 73b Through 73d - Sample Check
• Line 74 - Applied to 2006 Estimated Tax

Amount You Owe

• Line 75 - Amount You Owe
• Line 76 - Estimated Tax Penalty

Third Party Designee

• Third Party Designee

Sign Your Return

• Child’s Return
• Daytime Telephone Number
• Paid Preparer Must Sign Your Return
• Electronic Return Signatures

Assemble Your Return

• Assemble Your Return

General Information

• How to Avoid Common Mistakes
• What Are Your Rights as a Taxpayer?
• Innocent Spouse Relief
• Income Tax Withholding and Estimated Tax Payments for 2006
• Do Both the Name and SSN on Your Tax Forms Agree With Your Social Security Card?
• Identity Theft
• How Do You Make a Gift To Reduce the Public Debt?
• How Long Should Records Be Kept?
• Amended Return
• Need a Copy of Your Tax Return?
• Death of a Taxpayer
• Other Ways To Get Help
• Send Your Written Tax Questions to the IRS
• Research Your Tax Questions Online
• Free Help With Your Return
• Everyday Tax Solutions
• Online Services
• Large-Print Forms and Instructions
• Help for People With Disabilities
• Interest & Penalties
• Interest
• Penalties

Order Blank Forms

• Order Blank Forms

2005 Tax Rate Schedules

• Tax Rate Schedules
• Use Schedule X if Your Filing Status is Single
• Use Schedule Y-1 if Your Filiing Status is Married Filing Jointly, or
  Qualifiying Widow(er)
• Use Schedule Y-2 if Your Filing Status is Married Filing Separately
• Use Schedule Z if Your Filing Status is Head of Household

2005 Tax Tables

• Tax Tables Main
• Taxable Income $1 - $5,000
• Taxable Income $5,000 - $14,000
• Taxable Income $14,000 - $23,000
• Taxable Income $23,000 - $32,000
• Taxable Income $32,000 - $41,000
• Taxable Income $41,000 - $50,000
• Taxable Income $50,000 - $59,000
• Taxable Income $59,000 - $68,000
• Taxable Income $68,000 - $77,000
• Taxable Income $77,000 - $86,000
• Taxable Income $86,000 - $95,000
• Taxable Income $95,000 - $100,000