Tc-40 Forms And Instructions - Individual Income Tax (Page 4 of 31) in pdf

TC-40 - General Instructions

What’s New

When to File and Pay

•

TC-40 is now a three-page return.

The amount of infor-

You must ﬁ le your return and pay any income tax due:

mation that must be captured to process your Utah return

1. By April 15, 2013, if you ﬁ le on a 2012 calendar year basis

has increased. The basic return now has a third page for

(tax year ends December 31, 2012); or

data that does not directly impact your return and is ﬁ led

2. By the 15th day of the fourth month after the ﬁ scal year

only when data is entered on it. See pages 12 and 13.

ends, if you ﬁ le on a ﬁ scal year basis. If the due date falls

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Domicile Deﬁ nition Changed.

Utah law deﬁ ning domicile

on a Saturday, Sunday or legal holiday, the due date is the

has changed. Consequently, Pub 49, Special Instructions

next business day.

for Married Couples where one is a full-year resident and

All Utah income taxes for the tax year must be paid by the due

the other is a full-year nonresident no longer applies. See

date. If your return is not ﬁ led on time or all income tax due is

page 3.

not paid by the due date, you may be subject to penalties and

•

Dependent with a Disability Exemption.

An additional

interest. (See Penalties and Interest instructions on page 3.)

exemption for a dependent with a disability may be used

Utah does not require quarterly estimated tax payments.

in the calculation of the Taxpayer Tax Credit. See page 6.

You can prepay at any time by sending your payment with

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Gold and Silver Coin Sale Credit.

The Legislature has

form TC-546, Individual Income Tax Prepayment Coupon,

enacted an apportionable nonrefundable credit for taxable

or by paying online at taxexpress.utah.gov. See additional

years beginning after December 31, 2011, for the net capital

instructions below.

gain on the sale of gold and silver coins. See page 18.

•

Recycling

Market

Development Zone Credit.

The Legis-

Extension of Time to File

lature has reinstated this credit for taxable years beginning

There is NO extension of time to pay your taxes – only

after December 31, 2011. See page 21.

to ﬁ le your tax return.

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Credit for Increasing Research Activities in Utah.

The

credit for qualiﬁ ed research expenses incurred in the taxable

You automatically get an extension of up to six months to ﬁ le

year has been reduced from 9.2% to 7.5%. See page 21.

your return. Utah does not have an extension form. However,

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Veteran Employment Tax Credit.

A new nonrefundable

penalties will be assessed if you have not met the prepayment

credit is allowed for hiring a qualiﬁ ed recently deployed

requirements by the original due date (see next paragraph).

veteran. See page 22.

See Penalties and Interest instructions on page 3. All extension

returns must be ﬁ led by October 15, 2013.

Volunteer Income Tax Assistance (VITA)

VITA volunteers provide free tax preparation service to low-

Prepayment Requirements for Filing

income and elderly taxpayers. Some VITA sites can ﬁ le elec-

Extension

tronically. Call 2-1-1 to ﬁ nd the closest VITA site.

You must prepay by the original due date:

• 90% of your 2012 Utah tax due (TC-40 line 27 plus line 30);

Federal Earned Income Tax Credit (EITC)

• 100% of your 2011 Utah tax liability (TC-40 line 27 plus

The federal earned income tax credit is a refundable federal (not

line 30 of your 2011 Utah return); or

Utah) tax credit for certain people who work and have earned

• 90% of your 2012 Utah tax due if you did not have a Utah

income. The credit can mean a larger refund or a reduction in

tax liability in 2011 or if this is your ﬁ rst year ﬁ ling.

your federal tax.

You may prepay through withholding (W-2, TC-675R, 1099-R,

Check the IRS website at irs.gov/eitc, or call the IRS at

etc.), payments applied from previous year refunds, tax credits

1-800-829-1040 to see if you qualify.

and credit carryovers, or payments made by the tax due date

using form TC-546, Individual Income Tax Prepayment Coupon,

Who Must File

or online at taxexpress.utah.gov. Interest is assessed on

1. Every Utah resident or part-year resident who must ﬁ le a

unpaid tax from the original ﬁ ling due date until the tax is paid

federal income tax return;

in full. Penalties may also apply.

2. Every nonresident with income from Utah sources who must

ﬁ le a federal return; and

Where to File

3. Taxpayers wanting a refund of any income tax overpaid.

You can ﬁ le and pay your Utah taxes electronically at

If you must ﬁ le a Utah return, ﬁ rst complete your federal return,

taxexpress.utah.gov.

even if you don't have to ﬁ le with the IRS. You need the federal

If ﬁ ling on paper, mail your return and payment (with the

return information to complete your Utah return.

TC-547, Individual Income Tax Return Payment Coupon) to

Income Tax Exemption:

You may be exempt from Utah

the payment mailing address shown on page 1.

individual income tax if your federal adjusted gross income

is less than the sum of your federal standard deduction and

What to Attach and What to Keep

federal personal exemptions amount for the taxable year. See

Include the following with your TC-40 and also keep a copy

instructions for line 21 on page 8.

with your tax records.

•

Utah Schedules:

Attach all applicable schedules (TC-40

Nonresident Filing Exemption:

A nonresident whose only Utah

page 3, TC-40A, TC-40B, TC-40C, TC-40S, and TC-40W).

source income is from a partnership or S corporation (or other

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Other Adjustments:

Attach an explanation for any equitable

pass-through entity) and who had Utah income tax withheld by

adjustment entered on TC-40A, Part 1, code 69 or Part 2,

the partnership, S corporation or other pass-through entity on

code 79.

the Utah income, and does not seek to claim a Utah tax credit,

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Other Forms:

Attach a copy of federal form 8379 to the

is not required to ﬁ le a Utah return.

front of your joint Utah return if claiming injured spouse

provisions and a joint refund is expected to be applied

Tc-40 Forms And Instructions - Individual Income Tax Page 4

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