STUDENT LOAN INTEREST WORKSHEET. Form AR1000F/AR1000NR...3. Enter result here and on Form AR1000ADJ, Line

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1 STUDENT LOAN INTEREST WORKSHEET Form AR1000F/AR1000NR Note: or $160,000 or more You cannot take the deduction....6 If zero or less, Enter result here and on Form AR1000ADJ, Line FILING STATUS 4 ONLY Yours 11. Enter the total interest for each spouse up to the combined amount on Line A 12. Total amount paid from Line Divide Line 11A by Line Multiply Line 10 by the amount on Line 13. Enter here and on AR1000ADJ, Line 6, Column A Spouse 11B... IRA PHASE OUT CHART Single, Head of Household IF YOUR FILING STATUS IS: YOUR ALLOWABLE TRADITIONAL IRA DEDUCTION Arkansas AGI exceeds: $61,000 Arkansas AGI is: $71,000 Married Filing on Same Nonactive Spouse $0 $183,000 $118,000 $10,000 Page 20

2 SELF-EMPLOYED HEALTH INSURANCE DEDUCTION WORKSHEET... 1 Form AR1000ADJ, Line Enter the smaller of Line 1 or Line 2 here and on Form AR1000ADJ, Line *Earned income includes net earnings and gains from the sale, transfer, or licensing of property you created. It does not include corporation. MILEAGE AND DEPLETION ALLOWANCES Business... Charitable...14 cents/mile Medical/Moving...23 cents/mile... Reimbursement received...same as federal DEPRECIATION INFORMATION Section 179 Facts limits and phase out thresholds. Deduction Limit Cost of qualifying property limit $200,000 More than one property placed in service taxpayer per year Page 21

3 HOW TO FILL OUT YOUR CHECK Make your check payable to "Dept. of Finance and Administration". Date and mail payment on Lynne Taxpayer 2222 Austin Ave Tony, AR Date April 15, 2016 PAY TO THE ORDER OF: One hundred twenty five and no/100 $ DOLLARS MEMO: IIT Lynne Taxpayer Make sure both amounts match Include your Account ID or Social Security Number and the tax year on the memo line. Don't forget to sign your check! PRESERVATION OF TAX RECORDS able time during that period. When a taxpayer fails to preserve and maintain the required records, the director may make an estimated assessment based upon any available information as to the amount of tax due ment is upon the taxpayer. Page 22

4 IF THE IRS AUDITS YOU If the Internal Revenue Service examines your return for any tax year and changes your net taxable income, you must report the changes to the Arkansas Department of Finance one hundred eighty (180) days from the receipt of the notice and demand for payment from the Internal Revenue Service. one hundred eighty (180) days and do three (3) years INFORMATION EXCHANGE PROGRAMS WITH THE IRS - CP2000: lation of debt.) Revenue Agent Reports RARs : When the IRS adjusts a taxpayer s federal income tax return as the result of an audit, details are provided to the State of Arkansas. The taxpayer s state tax return is then - on the taxpayer s federal return, and the taxpayer is mailed a Notice of Tax Adjustment. Page 23

5 IDENTITY THEFT severe problem. Sometimes thieves steal a taxpayer s Social Security Number and other not due to them. Request a hold on your account to stop all fraudulent refunds. Contact the IRS Identity Protection Specialized Unit at (800) and inform return. You should complete IRS Form your claim. Arkansas Individual Income Tax PO Box 3628 Little Rock, AR Contact the credit bureaus to ensure there have not been any other thefts related to your identity, and ask to have a fraud alert put on your credit report. The numbers to IDENTITY Page 24

6 You have the right to a full explanation of all actions by any agent of the Director of the Department of Finance and Administration both during an audit and during collection activities. your expense ASSISTANT COMMISSIONER FOR POLICY AND LEGAL Mailing Address: LEDBETTER BUILDING, ROOM 2440 LITTLE ROCK, AR Overnight Mailing Address: LEDBETTER BUILDING, ROOM W. 7TH ST. LITTLE ROCK, AR Address: John.Theis@dfa.arkansas.gov of the taxpayer. If the Director determines that an additional amount of tax is due, then a proposed assessment shall be issued to the taxpayer. The taxpayer may seek relief from the proposed assessment as outlined above. If the taxpayer fails to preserve and maintain records suitable to determine the amount of tax due or to prove accuracy of any return, the Director may make an estimated assessment based upon the best information available as to the amount of tax due by the taxpayer. - dize the Director s ability to compute, assess, or collect any state tax. Any taxpayer seeking relief from a jeopardy assessment must request an clerk of any county of this state certifying that the person named therein is indebted to the state for the amount of tax due as established by the - Page 25