Of course, this means
that any refunds associated with those returns will be delayed accordingly.
IRS Form
|
IRS Release Date
|
Major Changes
|
Last
Advance
Draft
|
Last
Official
Release
|
Form 1040 |
--
|
11/2/2007
(form)
(instructions)
|
The design of the Adjusted Gross Income section of the form (lines 23 through 37) has
returned to the design used for tax year 2005, since the deductions for educator expenses and
tuition and fees were extended through the end of 2007 by the
Tax Relief and Health Care Act of 2006.
(The IRS handled the late passage of this bill with a complex way of
reporting these deductions for 2006, sharing lines for unrelated deductions with special printing codes!)
The tuition and fees deduction now requires the completion of a new Form 8917 in order to identify the student(s)
claimed and show the computation of the deduction.
(The IRS has found that many taxpayers claim both the tuition and fees deduction and the hope or lifetime
learning credit for the same student, which is not allowed.)
The Tax and Credits section of the form (lines 39 through 57) has several changes in the details.
The standard deductions is indexed with inflation at line 40.
Exemptions and their phaseout are indexed with inflation at line 42.
A box for tax from Form 8889 (Health Savings Accounts), which is a penalty tax for failing to maintain certain coverage,
has been added at line 44 (the main tax line).
The order in which you must take certain credits has changed,
and the order of lines 47 through 54 has changed accordingly.
Two boxes have been added to the line for unreported social security and Medicare tax
(line 59) in order for you to identify whether the tax is from Form 4137 (for tax on unreported tips) or
the new Form 8919 (for employees who did not have social security and Medicare taxes withheld from their wages).
The line for credit from federal telephone excise tax paid (line 71) has been removed, since the credit
was a one-time credit resulting from a court decision. It has been replaced by a line
for a new refundable credit from Form 8801 (Credit for Prior-Year Minimum Tax).
Page reference changes appear throughout the form.
Instructions:
IRA deduction worksheet is complicated by new favorable rules for married joint filers, and a
caution is added at the top of the worksheet to highlight the long-standing fact that you cannot
deduct any IRA contributions (nor treat them as nondeductible contributions that raise your basis in the IRA)
if you were age 70-1/2 or older at the end of the tax year.
AMT exemptions are shown to revert back to tax year 2000 levels ($33,750 for singles and
$45,000 for married joint filers). However,
we expect Congress to pass a year-end tax bill that raises them up to levels higher than those for 2006
(which were $42,500 for singles and $62,550 for married joint filers).
In fact, leaders of the Ways and Means Committee and the Finance Committee have sent a letter to the IRS
indicating that the levels will be $44,350 for singles and $66,250 for married joint filers.
Most other instructions for Form 1040 are unchanged except for the usual indexing with inflation
and the elimination of all special benefits related to Hurricane Katrina.
|
Form
1040-V
|
--
|
11/7/2007
(form and instructions)
|
Year reference changes; slight layout change and added instruction on voucher;
changes in addresses to which you must send your return and voucher.
|
Schedule A |
--
|
11/8/2007
(form)
(instructions)
IRS combines Schedules A and B into a single pdf file each for forms and instructions.
|
The design for line 5 (state and local income taxes) has
returned to the design used for tax year 2005, since the option to deduct sales taxes instead of income taxes
was extended through the end of 2007 by the
Tax Relief and Health Care Act of 2006.
(The IRS handled the late passage of this bill last year with a complex way of
identifying the method used with special printing codes, but has now returned
to the less confusing design of 2005.)
A line has been added for deducting qualified mortgage insurance premiums (line 13).
The monetary thresholds for phaseout of deductions with income at line 29 are indexed with inflation.
Instructions highlight new recordkeeping requirements for cash contributions, no matter how small;
all information formerly in IRS Pub. 600 (for the sales tax deduction) is integrated into the instructions;
standard mileage rate for medical care raised to 20 cents a mile, but favorable rates related to Katrina expired;
detailed requirements for use of the new line 13 added.
|
Schedule B |
--
|
11/8/2007
See Schedule A.
|
Year reference changes only.
(IRS combines Schedules A and B into a single pdf file each for forms and instructions.)
|
Schedule C |
--
|
11/2/2007
(form)
(instructions)
|
Year and page reference changes only to the form, but the instructions
highlight a number of changes in the law and how the form is used, including revised
activity codes, elimination of special benefits for Katrina victims, raised section 179
ceilings (shown in our comments on Form 4562), and the ability to report husband and
wife partnerships on separate Schedules C rather than requiring them to file a partnership
(Form 1065) return.
|
ScheduleC-EZ
|
--
|
11/1/2007
(form and instructions)
|
Minor wording change; year and page reference changes.
|
Schedule D |
--
|
11/8/2007
(form)
(instructions)
|
Line 16 expanded with more explicit on-form instructions;
year reference changes. Instructions highlight new elections for self-produced musical works and
homeowners in the intelligence community, and a new exclusion for the sale of qualified
renewal community assets.
|
Schedule E |
--
|
11/8/2007
(form)
(instructions)
|
Part I heading expanded with more explicit on-form instructions;
year reference changes. Instructions highlight new election available for husband-wide partnerships.
|
Schedule EIC |
--
|
10/16/2007
(form and instructions)
|
Year and page reference changes only. IRS Form 1040 instructions for the earned income credit
reflect the usual indexing with inflation.
|
Schedule F |
--
|
10/11/2007
(form)
(instructions)
|
Year and page reference changes; minor layout changes.
Instructions highlight new regulation that allows married joint owners of a farm to file
a Schedule F for each spouse rather than a partnership return (Form 1065).
|
Schedule H |
--
|
12/5/2007
(form)
(instructions)
|
Minor wording changes; year and page reference changes.
(The IRS advance draft showed Part II redesigned to handle unemployment contributions to states
with higher than the standard FUTA rates, as was true for New York in 2005. However, the
redesign was dropped from the final release.)
|
Schedule J |
--
|
10/12/2007
(form)
(instructions)
|
Year and line reference changes.
|
Schedule R |
--
|
12/22/2007
(form)
(instructions)
|
Final release dumps advance draft and reverts back to last year's design due to the year-end
passage of the AMT patch; minor wording, line, and year reference changes.
Contrary to earlier indications, returns that contain this schedule will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
|
Schedule SE |
--
|
11/2/2007
(form)
(instructions)
|
Social security base raised to $97,500; year reference changes;
line 8c added to include social security wages from the new Form 8919
(for employees who did not have social security and Medicare taxes withheld from their pay).
|
Form 1116 |
--
|
12/22/2007
(form)
(instructions)
|
Categories of income reduced from ten to five, so only 5 check boxes appear at the top of the form;
references to the expired Form 8914 (for those who housed Katrina victims) removed at line 17;
credits from only four categories of income are reported in Part IV (from
separate Forms 1116) instead of eight;
line reference changes.
Instructions define how prior-year 10 categories relate to this year's 5 categories,
new reporting procedures for high taxed passive income treated as general income
and income from regulated investment companies, new rules for carryforward and carryback of
unused foreign taxes, and recharacterization of overall domestic loss.
Contrary to earlier indications, returns that contain this form will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
|
Form 1310 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 11-2005.
|
Form 2106 |
--
|
10/16/2007
(form)
(instructions)
|
Standard mileage rate raised to 48.5 cents per mile at line 22; year and line reference changes.
Instructions reveal a slight increase in limits on car depreciation and the elimination
of higher rates for electric vehicles.
|
Form 2106-EZ |
--
|
10/16/2007
(form and instructions)
|
Standard mileage rate raised to 48.5 cents per mile at line 1; year and line reference changes.
|
Form 2120 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 10-2005.
|
Form 2210 |
--
|
12/15/2007
(form)
(instructions)
|
Reference to the new refundable credit for prior year minimum tax added at line 3;
reference to special factors for Katrina victims removed from line 15;
rates at lines 15 and 16 revised to reflect new penalty rates;
penalty rate periods and penalty rates changed at lines 27 through 30,
and leap year reflected in the penalty computation at line 30;
dollar amounts on Schedule AI raised to reflect the new social security limits
and indexing with inflation;
year, line, and page reference changes.
Schedule AI:
phaseout threshold for itemized deductions indexed with inflation at line 6;
exemption amount and its phaseout threshold indexed with inflation at line 10;
social security base increased at line 27;
year reference changes.
|
Form 2210-F |
--
|
12/14/2007
(form and instructions)
|
Minor rewording at line 1;
line 9 added for the new refundable credit for prior year minimum tax, and subsequent lines renumbered;
leap year and new penalty rate reflected in the penalty computation at line 21;
year and line reference changes.
|
Form 2350 |
--
|
10/16/2007
(form and instructions)
|
Year reference changes only.
|
Form 2441 |
--
|
12/22/2007
(form)
(instructions)
|
Minor wording change in Part I heading; contrary to advance draft, computation of tax limitation at the
end of Part II reverts back to the prior-year method, but two new lines are added anyway,
so subsequent lines renumbered accordingly;
year and line reference changes.
Instructions reveal a major change in what constitutes earned income for the purposes of this form:
most nontaxable earned income previously included is no longer included, but you can elect to
include nontaxable combat pay for either Part II or Part III of the form (or both).
Contrary to earlier indications, returns that contain this form will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
|
Form 2555 |
--
|
10/12/2007
(form)
(instructions)
|
Amount of housing expense not allowed as an exclusion increased at line 32;
maximum foreign earned income exclusion increased to $85,700 at line 37;
year reference changes.
|
Form 2555-EZ |
--
|
10/12/2007
(form)
(instructions)
|
Maximum exclusion ( and maximum foreign earned income allowed to use this form) raised to $85,700 at line 13;
year reference changes.
|
Form 2848 |
--
|
--
|
Does not change annually, but a new version is expected
to be released by 3/10/2008. (Note that the IRS has been pushing the release date
forward every week since the beginning of the tax season. As a result, we have little
confidence in their newly estimated release date. We suggest using the prior-year form
rather than waiting for the current one.)
Current version is rev. 3-2004.
|
Form 3468 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2006.
|
Form 3800 |
--
|
12/29/2007
(form)
(instructions)
|
Former lines 1b (from Form 5884) and 1j (from Form 8846) removed because the corresponding credits are
now allowed to reduce AMT and are now reported on stand-alone forms; former lines 1f removed because the
corresponding enhanced oil recovery credit has expired; former lines 1x and 1y interchanged (i.e., credit order changed);
former line 1aa replaced by new line 1u
for credit passed through from entities who are employers affected by Katrina and who have a fiscal year
that includes a portion of 2007 in addition to a period before July, 2006 (only the housing credit from
Section B of Form 5884-A is allowed because it was the only credit still allowed in 2006);
lines 12a through 12c modified to reflect new order of credits on Form 1040;
year and line reference changes.
New instructions highlight the removed credits and the added credit, noted above.
|
Form 3903 |
--
|
10/4/2007
(form and instructions)
|
Standard mileage rate increased tp 20 cents per mile.
|
Form 4136 |
--
|
1/19/2008
(form)
(instructions)
|
Final release differs from advance draft in a delay in the date certain tax rates
are reduced and the addition of a new category.
New tax rates after February 29,2008 reflected in lines 2, 5, and 8,
with footnotes added to identify those rates and
cautions added to indicate that they don't apply to certain fuel taxed at $.044;
new types of use added at lines 4 and 5;
former lines 9 through 11 removed;
explanation of requirements expanded at the new line 10 (formerly line 13);
new tax rate after September 30, 2007 reflected in line 13c,
with a footnote added to identify the lower rate;
new category for LUST tax added at line 18.
The IRS has announced that they will delay
the processing of returns that contain an entry on line 17 of this form
(for leaking underground storage tank tax) until March 3
(because earlier drafts of the form did not include this new line)!
|
Form 4137 |
--
|
10/17/2007
(form and instructions)
|
Chart added at line 1 to identify each employer and related tip amounts,
and all subsequent lines renumbered;
references to Form 1040NR-EZ added to heading and lines 4 and 13;
social security base raised to $97,500;
year and line reference changes;
Schedule U removed.
|
Form 4255 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 2-2006.
|
Form 4562 |
--
|
11/1/2007
(form)
(instructions)
|
Section 179 ceilings raised;
reference to special allowance for cellulosic biomass ethanol plant property added to line 14;
reference to special allowance for New York Liberty property removed from line 25;
year reference changes.
Instructions show that the raised depreciation ceilings for
electric cars are not available for cars placed in service in 2007 or later.
|
Form 4684 |
--
|
10/18/2007
(form)
(instructions)
|
Special lines and calculations for Katrina victims removed from Section A,
including the elimination of special instructions at line 11, elimination of lines 17 and 18,
combining the former lines 20 and 21, and renumbering all subsequent lines;
line reference changes.
|
Form 4797 |
--
|
11/3/2007
(form)
(instructions)
|
Line reference changes only on form. Only changes in instructions relate to exclusion of gain for
certain favored assets.
|
Form 4835 |
--
|
10/17/2007
(form and instructions)
|
Year reference changes only.
|
Form 4868 |
--
|
10/23/2007
(form and instructions)
|
Year reference changes; instructions reflect a few changes in addresses
to which to send the voucher for some states.
|
Form 4952 |
--
|
10/16/2007
(form and instructions)
|
Year reference changes only.
|
Form 4970 |
--
|
11/14/2007
(form and instructions)
|
Year reference changes only.
|
Form 4972 |
--
|
10/10/2007
(form and instructions)
|
No change other than tax year.
|
Form 5329 |
--
|
9/29/2007
(form)
(instructions)
|
References to qualified hurrican distributions removed from the heading for Part I;
year reference changes in all sections.
Instructions highlight the allowance of a one-time direct transfer from your IRA to your HSA
(health savings account).
|
Form 5695 |
--
|
12/22/2007
(form and instructions)
|
Layouts for both pages of the form changed appreciably; order of costs at line 2 changed and
lines 2e through 2h added to guide the taxpayer in applying the
$2,000 limit on windows; line 8 expanded into 3 lines in order to reduce
the $500 limit by the amount used in the prior year; tax liability limit revised at lines 12 and 13;
heading above Part II changed to reflect the fact that credits on Forms 2555 and 8880 now affect
the credit that can be claimed on Form 5695;
credit carryover from 2006 added at line 28;
tax liability limit revised at lines 30 and 31,
including the need to include an amount from a worksheet in Pub. 972 when the child tax credit is claimed;
year and line reference changes. (Complexities introduced in the IRS's advance draft of the form
have been removed because of the AMT patch.)
Instructions revised for the handling of joint occupants and married joint filers with a second home
because of changes made to line 8.
CAUTION: The IRS has announced that returns containing this form will not be processed until
February 11. Paper returns will be held and e-file returns will be
rejected until that time.
|
Form 5884 |
--
|
1/10/2008
(form and instructions)
|
Form greatly revised because it is now a stand-alone form (no longer passed through Form 3800)
because the credit is now allowed to offset AMT,
Wording for line 1 revised to reflect the new eligibility of second-year wages;
a new line 1c added for reporting second year wages of employees certified as long-term family assistance recipients;
new lines 5 and 7 added to handle passive activity limitations;
carryovers added at line 8 for carryback from future Forms 5884 and
carryforward of N.Y. Liberty Zone business employee credit;
Part II added to compute the limitation to tax liability, formerly left to Form 3800.
Instructions clarify the many changes evident in the form, including the expansion of targeted groups to
include certified long-term family assistance relief recipients and the allowance of their second-year wages,
the reason why a carryforward from the prior Form 5884 is not reported here but rather on Form 3800, and
the switch from Form 8835 to Form 5884 the carryforward of N.Y. Liberty Zone business employee credit.
|
Form 6198 |
--
|
10/16/2007
(form)
(instructions)
|
Year reference changes only in both form and instructions.
|
Form 6251 |
--
|
12/28/2007
(form)
(instructions)
|
The final release differs appreciably from the advance draft thanks to the recently passed AMT patch.
References to the expired Form 8914 (for Katrina victim housing) removed from line 1;
clarifying wording added at line 2;
levels for start of itemized deduction phaseout indexed with inflation at line 6;
level above which an adjustment applies to married taxpayers filing separately increased at line 28;
exemption amounts at line 29 indexed with inflation;
tax brackets at line 43 indexed with inflation;
wording at several lines modified to highlight changes for Form 2555 filers;
line and page reference changes.
Instructions include modified instructions for line 28, a modified Exemption Worksheet for line 29, a modified
Foreign Earned Income Tax Worksheet for line 31, and complex modifications to lines 37, 38, and 39 for Form 2555 filers.
Contrary to earlier indications, returns that contain this form will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
|
Form 6252 |
--
|
9/25/2007
(form and instructions)
|
Year reference changes only in both form and instructions.
|
Form 6478 |
--
|
1/1/2007
(form and instructions)
|
Wording at line 6 corrected; instruction in the heading for Part II to use Form 8835
instead of Part II of Form 6478 under some circumstances removed because Form 6478 is
now a stand-alone form;
lines 17a through 17c revised to reflect the new order of credits on Form 1040;
lines 17d and 17e clarified with the addition of the word non-business;
lines 22b through 22d added to include two credits no longer reported on Form 3800;
year reference changes.
Instructions virtually unchanged.
|
Form 6765 |
--
|
2/2/2008
(form and instructions)
|
Form redesigned to make Sections A, B, and C mutually exclusive,
so wording of headings for these sections and the last line(s) of each section revised,
and line 61 (formerly line 63) revised;
credit percentages in Section B raised at lines 38, 39, and 40;
line reference changes.
|
Form 6781 |
--
|
9/21/2007
(form and instructions)
|
No change other than tax year designation.
|
Form 8271 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2005.
|
Form 8283 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2006.
|
Form 8332 |
--
|
9/29/2007
(form and instructions)
|
No change in form other than revision date (now 9-2007).
Only change in intructions is a more straightforward definition of custodial parent,
which is the parent with whom the child lived for the greater part of the year.
|
Form 8379 |
--
|
12/6/2007
(form and instructions)
|
No change in form other than revision date (now 12-2007) and tax year cited in line 2 label.
Several clarifying changes in the instructions and updated amounts for line 9.
|
Form 8396 |
--
|
12/22/2007
(form and instructions)
|
Tax liability limit at line 9 reflects the new order of credits and
the need to include an amount from a worksheet in Pub. 972 when the child tax credit is claimed;
year and line reference changes. (Complexities introduced in the IRS's advance draft of the form
have been removed because of the AMT patch.)
CAUTION: The IRS has announced that returns containing this form will not be processed until
February 11. Paper returns will be held and e-file returns will be
rejected until that time.
|
Form 8582 |
--
|
10/11/2007
(form)
(instructions)
|
Year reference changes only.
|
Form 8586 |
n.a.
|
n.a.
|
No longer changes annually, and not scheduled for revision this year.
Current version is rev. 12-2006.
|
Form 8594 |
n.a.
|
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 2-2006.
|
Form 8606 |
--
|
10/2/2007
(form)
(instructions)
|
References to qualified hurricane distributions removed throughout form,
and lines 15 and 25 each reduced to a single line as a result;
reference to one-time distribution to fund an HSA (health savings account)
added to the headings for Parts I and III and highlighted in the instructions;
year and page reference changes.
|
Form 8611 |
--
|
1/24/2008
(form and instructions)
|
Form unchanged except for revision date, but instructions for lines 1, 11, and 14
revised (updated and clarified).
|
Form 8615 |
--
|
12/22/2007
(form)
(instructions,
rev. 2-14-08)
|
List of taxes to be excluded from the parent's tax at line 10 expanded to include
penalty tax on HSA (health savings account) withdrawals (figured on Form 8889)
and education credit recapture; line reference changed in line 10.
CAUTION: New instructions were released on February 14 to conform with the year-end
Tax Techical Corrections Act of 2007. The new instructions reflect complex changes
to entries for lines 4, 6, 9, 10, 15, 17, and 18 for those who file Form 2555 or 2555-EZ.
|
Form 8801 |
--
|
12/27/2007
(form)
(instructions)
|
Form expanded to three pages because of the addition of a new refundable credit for prior year minimum tax,
figured in the new Part IV;
instructions at lines 4 and 11 changed to tell you to go to the next line if you filed Form 2555 or 2555-EZ,
irrespective of the amount on line 4 or 11, respectively;
dollar level above which married taxpayers filing separately must add an adjustment to line 4 indexed with inflation;
AMT exemptions at line 5 raised to 2006 amounts;
age changed from 14 to 18 at line 9 in reference to instruction for children to limit amount entered;
requirement to refer to instructions added at line 11 for filers of Form 2555 or 2555-EZ;
heading for Part II changed to show that there are now two credits -- the traditional nonrefundable one
and a new refundable one; label for line 25 changed to reflect the fact that this is the nonrefundable credit,
computed in the same ways as prior years;
lines 26 and 27 added to show when you must complete Part IV for the nonrefundable credit;
line 28 (former line 26) revised to reflect the impact of the nonrefundable credit;
thresholds at line 34 raised to reflect tax brackets for 2006;
Part IV added to determine the new nonrefundable credit.
year and line reference changes.
Instructions explain two new provisions: (1) the new possibility of a refundable credit (even when tax liability
limits the regular credit) if you have a carryover from 2004 or earlier, and
(2) the need to use the new Foreign Earned Income Worksheet for line 11 if you claimed a foreign
earned income or foreign housing exclusion on Form 2555 (or 2555-EZ) for 2006.
|
Form 8812 |
--
|
11/9/2007
(form and instructions)
|
Threshold at line 5 indexed with inflation;
instructions at line 8 modified by refering to the amount you identified as code UT on line 63 of Form 1040,
rather than describing the amount as uncollected social security and Medicare or tier 1 RRTA tax;
line reference changes.
|
Form 8814 |
--
|
11/9/2007
(form and instructions)
|
No change other than tax year designation.
|
Form 8815 |
--
|
9/28/2007
(form and instructions)
|
Phaseout of exclusion indexed with inflation at lines 9 and 10;
year reference changes.
|
Form 8822 |
--
|
12/13/2007
(form and instructions)
|
No change in form other than revision date (now 12-2007). Several changes in instructions,
including new signature instructions for those who complete Part I, new instructions
for representatives who sign, and several changes in the IRS addresses to which you
must send the signed form.
|
Form 8824 |
--
|
11/16/2007
(form and instructions)
|
Part IV (for conflict-of-interest sales) can now be used by Federal judicial officers
to elect to defer recognition of gain for certain property sold and replaced within 60 days.
|
Form 8828 |
n.a. |
n.a.
|
Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2005.
|
Form 8829 |
--
|
11/20/2007
(form)
(instructions)
|
Year and line reference changes.
CAUTION: The IRS revised their previously released instructions on 11/20/2007 to include a paragraph that explains how
to determine the amount of qualified mortgage insurance premiums to deduct on Form 8829 vs. the
amount to deduct on Schedule A. Therefore, if you downloaded the instructions before 11/20/2007,
be sure to download the instructions again in order to have the revised version.
|
Form 8834 |
--
|
12/25/2007
(form and instructions)
|
This credit (Qualified Electric Vehicle Credit) has expired, but pass-through entities that have a
fiscal year other than the calendar year may still have a credit from vehicles placed
in service before 2007 but within the 2007 fiscal year.
Part I of the form is therefore reduced to reporting amounts reported to
taxpayers on a Schedule K-1 from partnerships and S corporations.
Part II is unchanged except for line reference changes.
Year and line references throughout.
|
Form 8839 |
--
|
12/22/2007
(form)
(instructions)
|
Maximum credit (or exclusion) per child indexed with inflation at line 2 (or line 19);
AGI at which phaseout of credit (or exclusion) starts indexed with inflation at line 9 (or line 27);
computation of tax liability limit revised at line 16 to reflect new order of credits on Form 1040;
tip at bottom of page 2 revised to include prior year expenses when not fully reimbursed and
the adoption was not final by the end of the prior year;
year and line reference changes.
Contrary to earlier indications, returns that contain this form will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
|
Form 8846 |
--
|
1/16/2007
(form and instructions)
|
Redesigned as a stand-alone form (with the credit no longer passed through Form 3800)
because the credit is now allowed to offset AMT,
so passive activity limitations and carryovers added at lines 7 through 10
and Part II added to compute the limitation to tax liability after certain other credits;
social security wage base raised at line 4.
|
Form 8853 |
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10/16/2007
(form)
(instructions)
|
Instruction at line 7 changed to reflect the fact that Form 1040 no longer has a line
devoted to the Archer MSA deduction, so the deduction is now a write-in adjustment at line 36 of Form 1040;
LTC payment threshold indexed with inflation at line 23;
year and page reference changes.
Other than the addition of clarifying wording, instructions changed only to reflect increases
in allowed deductible amounts and maximum out-of-pocket expenses for HDHP's
and maximums for LTC contracts.
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Form 8859 |
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12/22/2007
(form and instructions)
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Note added near top of form to complete Form 8839 before Form 8859 (contrary to the reverse order
of these credits on Form 1040);
tax liability revised at line 9 to reflect new order of credits on Form 1040 and
the need to include an amount from a worksheet in Pub. 972 when the child tax credit is claimed;
year and line reference changes. (Complexities introduced in the IRS's advance draft of the form
have been removed because of the AMT patch.)
CAUTION: The IRS has announced that returns containing this form will not be processed until
February 11. Paper returns will be held and e-file returns will be
rejected until that time.
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Form 8861 |
n.a.
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n.a.
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No longer changes annually, and not scheduled for revision this year.
Current version is rev. 12-2006.
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Form 8862 |
n.a.
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n.a.
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Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2005.
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Form 8863 |
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12/22/2007
(form and instructions)
|
Caution near top of form expanded to highlight that an education credit on Form 8863 cannot be taken
in the same year in which you claim the tuition and fees deduction for that student, and instruction
to compute the foreign tax credit before this credit (contrary to the reverse order
of these credits on Form 1040);
all references to Gulf Opportunity Zone students removed from form and instructions because
the raised maximums and credit percentages for those students no longer apply, so footnotes at line 1 removed,
supplementary lines at lines 5 and 6 removed, and reminders in the instructions removed;
phaseout threshold indexed with inflation at line 8;
computation of tax liability at line 15 revised to reflect new order on Form 1040;
line reference changes. (Complexities introduced in the IRS's advance draft of the form
have been removed because of the AMT patch.)
CAUTION: The IRS has announced that returns containing this form will not be processed until
February 11. Paper returns will be held and e-file returns will be
rejected until that time.
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Form 8880 |
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12/22/2007
(form and instructions)
|
AGI levels above which credit not allowed indexed with inflation in the caution near the top of the form;
dollar ranges in table at line 9 indexed with inflation;
year and line reference changes. (Complexities introduced in the IRS's advance draft of the form
have been removed because of the AMT patch.)
Contrary to earlier indications, returns that contain this form will NOT be delayed by the IRS, in spite of
the late passage of the AMT patch.
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Form 8885 |
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11/24/2007
(form and instructions)
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Clarifying wording change at line 1;
graphic added for caution below line 2;
year reference changes.
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Form 8889 |
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12/15/2007
(form)
(instructions)
|
Form reveals simplified instruction at line 3;
entry for qualified HSA funding distributions added at line 10;
Part III (on a new page 2) added to figure penalty tax for failure to maintain HDHP coverage;
year and line reference changes.
Instructions highlight several changes in the law that affect how you will use the form,
even though the form itself appears deceptively similar to the prior-year form.
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Form 8901 |
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11/9/2007
(form and instructions)
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No change in form other than tax year designation. Instructions include line reference changes
and a revised instruction on how to explain the lack of SSN for an adopted child.
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Form 8910 |
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1/29/2007
(form and instructions)
|
This form is used to figure a credit for vehicles using lean burn technology, hybrid technology,
compressed natural gas, liquefied natural gas, liquified petroleum gas, hydrogen, fuel cells, etc.
The amount of credit varies by model year and make of vehicle, as set by the IRS, but can be as high
as $3,150.
This form will be built into the Standard and Premium level software, but was delayed by the IRS.
Although originally released January 19, it was pulled, corrected, and rereleased January 29.
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Form 8917 |
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10/30/2007
(form and instructions)
|
New this year, Form 8917 is now required to claim the tuition and fees deduction on line 34 of Form 1040.
The form is used to identify the student(s) claimed and show the computation of the deduction.
The information on this form will be used by the IRS to determine whether this deduction is being claimed
for the same student for which an education credits on Form 8863 is being claimed, which is not allowed.
This form will be built into the software (all levels) for the upcoming tax season.
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Sch. D Tax Worksheet |
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11/1/2007
See Schedule D instructions
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No significant changes. Shown on last page of IRS Schedule D instructions.
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Form 1040-ES |
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1/1/2007
(form and instructions)
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Estimated Tax Worksheet keeps the same layout but indexes all dollar amounts with inflation
and changes wording at lines 8 and 13b to reflect additional credits; year reference changes.
Instructions highlight numerous tax law changes in addition to the usual indexing with inflation of
the standard deduction, exemptions, phaseouts, and certain benefits. Among interesting changes are
a rise in the standard mileage rate for businesses but a drop in the rate for medical care and moving!
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Form 1040X |
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11/3/2007
(form)
(instructions)
|
Refundable credit from Form 8801 added at line 15;
exemptions for 2007 added at line 30 and exemptions for 2003 dropped;
clarifying wording added at line 31;
revision date changed to November 2007.
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Form 8453 (for e-file) |
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11/20/2007
(form and instructions)
|
Role of Form 8453 changed: Form 8453 is no longer a signature form!
In fact, paper signatures will no longer be accepted for e-file returns.
Beginning with the upcoming filing season,
the return must be signed using either the self-select PIN method or the Practitioner PIN method.
Form 8879 will hereafter be the only form on which paper signatures appear,
and that form is not sent to the IRS but rather retained by the e-file provider.
For IRS purposes, Form 8453 will hereafter be used only as a cover letter for the
submission of paper attachments required to be sent to the IRS.
(For Tax Preparer purposes, Form 8453 will remain the main control for e-file returns,
including the supplying of information for Form 8879, bank information, and e-file signatures,
and the checking of the return's eligibility for e-file.)
The look of the new Form 8453: The paper Form 8453 is similar to prior years only down to the address block,
and the only changes in this part of the form relate to the year designation,
with the year digit in the DCN changed to 8 and the tax year changed to 2007.
The remainder of the form is now just a set of check boxes to indicate attachments that must be
submitted in paper form to the IRS.
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Form 8879 (for e-file) |
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11/16/2007
(form and instructions)
|
All references to Fom 1040EZ-T (Request for Refund of Federal Telephone Excise Tax) removed,
since that refund was available only in the last filing season, and the phrase 'or request for refund'
removed from all jurats accordingly. Otherwise, the only changes in the form are year and line
reference changes and the addition of a reference to Form 1040-SS at line 4.
CAUTION: A paper Form 8879 must now be completed and signed by the taxpayer for all e-filed returns.
Form 8453 can no longer be used to sign the return. (In Tax Preparer this form will be automatically
completed based on the information you provide on our on-screen Form 8453, after which you can print the
form for paper signatures when you choose to print Form 8453.)
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Form 1065 (for partnerships) |
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12/27/2007
(form)
(instructions)
|
Page 1: Line 23 deleted because of expired phone tax credit; minor wording and layout changes.
Page 2 (Schedules A and B): Minor layout changes; year reference change.
Page 3 (Schedule K): Categories of foreign income changed at lines 16d-f and 16i-k, and attachment now
required for lines 16f and 16k (but no longer for 16e and 16j).
Page 4 (Shedules L, M-1, and M-2): No change other than tax year designation.
Instructions highlight new ability of husband-wife owners of a business to file separate
Schedules C (Form 1040) as sole-proprietors instead of a partnership return, new option for
reporting domestic production activity income, and new categories and reporting requirements
for foreign income on Schedule K, line 16d-f and i-k.
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Schedule D (Form 1065) |
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12/27/2007
(form and instructions)
|
No change in form other than tax year designation.
Instructions highlight new reporting requirements for Section 1045 rollover of gain from sale
of qualified business stock, providing partners with details on the transactions in
a supporting statement.
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Schedule K-1 (Form 1065)
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12/29/2007
(form)
(instructions)
|
Boxes E and F removed from page 1, so subsequent boxes relabeled and layout slightly revised;
tax year changes.
Instructions highlight new reporting requirements for the sale
of qualified business stock, and new handling of the work opportunity tax credit.
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Form 8825 (for partnerships)
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n.a.
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n.a.
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Does not change annually, and not scheduled for revision this year.
Current version is rev. 12-2006.
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