TX Form 4119 2012-2024 free printable template

Form 4119 is a document used by the Internal Revenue Service (IRS) in the United States. It is called the Taxpayer Allocation of $3 of their Payment for the Presidential Election Campaign, and its purpose is to allow taxpayers to allocate $3 of their federal income tax payment to the Presidential Election Campaign Fund. The form provides taxpayers with the option to support the fund, which provides funding for qualified presidential candidates who accept public funding for their campaigns.

Form 4119 is not a recognized form for filing with any specific government agency or authority. Thus, it is not possible to determine who is required to file this form as it does not exist in a formal context.

Form 4119 refers to the "Capital Gains and Losses" form used for reporting gains or losses from the sale of assets such as stocks, bonds, real estate, or other investments. Here is a step-by-step guide on how to fill out form 4119: 1. Begin by entering your personal information at the top of the form, including your name, address, and Social Security number. 2. Next, you will need to provide information about the property or investment you sold. Start by entering the description of the property in column (a). 3. In column (b), write the date you acquired the property. In column (c), write the date you sold or disposed of the property. 4. Proceed to fill in the cost or other basis of the property in column (d). This refers to the original purchase price or initial investment including any additional costs like commissions or fees. 5. If you received any adjustments to the cost basis, you can enter them in column (e). Adjustments may include things like depreciation or casualty losses. 6. Calculate the adjusted basis by subtracting any adjustments in column (e) from the cost basis in column (d). Fill in the result in column (f). 7. In column (g), enter the amount you received from the sale or disposition of the property. 8. If you incurred any expenses related to the sale, such as commissions or legal fees, enter them in column (h). However, do not include expenses that are already deducted elsewhere on your tax return (for example, those deducted on Schedule C for business-related expenses). 9. Subtract the expenses in column (h) from the amount received in column (g). Fill in the result in column (i). 10. If column (i) is larger than column (f), you have a gain. Write the gain in column (j). If column (f) is larger, you have a loss. Write the loss in column (k). 11. Transfer the gain or loss to Schedule D of your tax return, as appropriate. Note: This guide provides a general overview of how to fill out form 4119. However, tax laws can be complex and subject to change. It is always advisable to consult a tax professional or refer to the specific instructions provided by the Internal Revenue Service (IRS) when filling out any tax form.

Form 4119, also known as the "Statement of Deficiency, Referral, or Recommended Disallowance," is used by the Internal Revenue Service (IRS) for various purposes related to tax audits, examinations, and investigations. The purpose of this form is to inform taxpayers about identified deficiencies in their tax returns, recommend disallowance of claimed deductions or credits, or refer the case for further examination or investigation. It may detail specific issues, calculations, or discrepancies that require clarification or resolution by the taxpayer. The form serves as a notice or communication tool between the IRS and taxpayers regarding potential tax adjustments or penalties.

Form 4119 refers to the "Information Return Trust Accumulation of Charitable Amounts." It is used by charitable organizations to report financial information on the accumulation of charitable amounts for specific projects or purposes. The following information must be reported on Form 4119: 1. Identification of the organization: The name, address, and Employer Identification Number (EIN) of the charitable organization filing the report. 2. Nature of the trust: A description of the trust or arrangement through which the charitable amounts were accumulated. 3. Contributions received: The total amount of contributions or donations received for the specific project or purpose. 4. Income received: Any income earned or received from the investment or use of the accumulated charitable amounts. 5. Distributions made: The total amount of distributions or expenditures made from the accumulated charitable amounts for the specific project or purpose. 6. Accumulated charitable amount: The remaining balance of the accumulated charitable amounts at the end of the reporting period. 7. Transfers of accumulated amounts: Any transfers or changes to the accumulated charitable amounts during the reporting period. 8. Exempt purpose: A description of the specific charitable purpose or project for which the accumulated funds are being used. It is important for charitable organizations to accurately report the information on Form 4119 to comply with the tax regulations and maintain transparency regarding the use of accumulated charitable amounts.

Form 4119 is related to the Employer's Quarterly Federal Tax Return. The penalty for the late filing of this form may vary depending on the specific circumstances and the applicable laws. Generally, if you fail to file the form by the due date, you may be subject to a late filing penalty. As per the Internal Revenue Service (IRS) guidelines, the penalty for filing Form 4119 late is usually 5% of the unpaid tax for each month or part of a month the return is late, up to a maximum of 25% of the unpaid tax. However, if the return is more than 60 days late, the minimum penalty can be the smaller of $205 or the total tax amount due. It is important to consult the IRS guidelines or a tax professional for the most accurate and up-to-date information regarding penalties for late filing of specific tax forms.

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