Taxes - Breakdown of Tax Year 2012 Changes by Form

Breakdown of Tax Year 2012 Changes by Form

Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change – MI-1040
MI-1040 Video Tutorial of 2012 MI-1040 Form Changes	Individual Income Tax Return	Income tax rate = 4.35%	Income tax rate = 4.33% (annualized)
		Checkboxes for: Farmers, Fishermen or Seafarers	Checkboxes for: Farmers, Fishermen, Seafarers or Retiree
		Exemptions available: Personal Exemption ($3,700) Age 65 and over ($2,400) Disabled ($2,400) Children Under 18 ($600) Qualified Disabled Veteran ($300) Unemployment ($2,400) Claimed Dependent	Exemption changes: Personal Exemption (annualized $3,763) Age 65 and over ($0) Disabled ($2,400) – No Change Children Under 18 ($0) Qualified Disabled Veteran ($300) – No Change Unemployment ($0) Claimed Dependent – No Change
		Schedule 2 non-refundable credits: City Income Tax Credit Public Contribution Credit Community Foundation Credit Homeless Shelter/Food Bank Credit Credit for Income Tax Imposed by Government Units Outside Michigan Michigan Historic Preservation Tax Credit (non-refundable) College Tuition and Fees Credit Vehicle Donation Credit Individual or Family Development Account Credit Small Business Investment Tax Credit Renewable Energy Surcharge Credit	Certain non-refundable credits moved to the MI-1040 as the Schedule 2 has been discontinued: City Income Tax Credit * No longer available Public Contribution Credit * No longer available Community Foundation Credit * No longer available Homeless Shelter/Food Bank Credit * No longer available Credit for Income Tax Imposed by Government Units Outside Michigan (see MI-1040 line 18) Michigan Historic Preservation Tax Credit (see MI-1040 line 19). No credit for plans certified after December 31, 2011 College Tuition and Fees Credit * No longer available Vehicle Donation Credit * No longer available Individual or Family Development Account Credit * No longer available Small Business Investment Tax Credit (see MI-1040 line 19) Renewable Energy Surcharge Credit * No longer available
		Refundable credits: Qualified Adoption Expenses Stillbirth Credit Energy Efficient Home Improvement Credit	Refundable credits no longer available: Qualified Adoption Expenses Stillbirth Credit Energy Efficient Home Improvement Credit
		Michigan Earned Income Tax Credit: (EITC): 20% of Federal Credit	Michigan Earned Income Tax Credit: (EITC): 6% of Federal Credit
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - Schedule W
Schedule W	Withholding Tax Schedule	Table 2 includes 1099 and Flow Through Withholding	Table 2 includes 1099 income and a new Table 3 includes Michigan Flow-Through Withholding.
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - Schedule 1
Schedule 1 Video Tutorial of 2012 Schedule 1 Additions and Subtractions Form Changes	Additions and Subtractions	One page	Two pages - Page for Additions and Page for Subtractions
		Not Applicable	Retirement or pension subtraction requires inclusion of new Form 4884.
		Dividend/Interest/Capital Gains deductions: Age requirement 65 and older, or unremarried surviving spouse of a person who was 65 or older at the time of death	Dividend/Interest/Capital Gains deductions: Age requirement changed to 67 or older. Added checkbox for unremarried surviving spouse for someone born before 1946 and was at least age 65 at the time of death. ( line 13). Added lines for Year of Birth and Age of Filer and Spouse (line 13).
		Pension Estimator (2011 and Prior Years)	Pension Estimator (2012) (coming in late February)
		Description lines for: Retirement or Pension Renaissance Zone	Removed description lines for: Retirement or Pension Renaissance Zone
			Changes to ‘Miscellaneous Subtractions’
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change
MI-1040CR MI-1040CR-2 MI-1040CR-7	Household Income / Total Household Resources	Household Income	Total Household Resources
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040CR
MI-1040CR Video Tutorial of 2012 MI-1040CR Form Changes	Homestead Property Tax Credit Claim	Two pages	Three pages - be sure to complete and file all pages
		No Filing Status	Filing Status added (line 6)
		No Homestead Status checkbox	Homestead Status checkbox added (if taxable value included unoccupied agricultural farmland) (line 8)
		Household Income Maximum of $82,650	Total Household Resources Maximum of $50,000 (Phase-Out may apply - See Table B instructions)
		No Senior Credit Reduction	Senior Credit Reduction percentage based on Total Household Resources (see Table A)
		No maximum taxable value	Homesteads with a taxable value over $135,000 are not eligible for this credit (exception when taxable value includes unoccupied agricultural farmland - see MI-1040CR line 9)
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - Schedule NR
Schedule NR	Nonresident and Part-Year Resident Schedule	Refer to 2011 Schedule NR	Calculation change in exemption allowance portion: No longer subtract out portion for children exemption (no longer part of the MI-1040)
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - Form 4884
Form 4884 Video Tutorial of 2012 Pension Schedule Form 4884 Changes	Pension Schedule	Not Applicable	New Form!
Form 4973	Pension Continuation Schedule	Not Applicable	New Form! (if you have more than six entries)
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - Form 4642
Form 4642	Voluntary Contributions Schedule	Contributions Available: Animal Welfare Fund Children of Veterans Tuition Grant Program Children's Trust Fund (Preventing Child Abuse in Michigan) Girl Scouts of Michigan Fund Military Family Relief Fund United Way	Contribution Changes: Animal Welfare Fund - No Change Children of Veterans Tuition Grant Program - No Change Children's Trust Fund (Preventing Child Abuse in Michigan) – No Change Girl Scouts of Michigan Fund - No Change Military Family Relief Fund - No Change United Way - No Change Special Olympics - New for 2012
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040CR-2
MI-1040CR-2	Homestead Property Tax Credit Claim for Veterans and Blind People	No Filing Status	Filing Status added (line 5)
		No maximum taxable value	Homesteads with a taxable value over $135,000 are not eligible for this credit.
		Household Income Maximum of $82,650	Total Household Resources Maximum of $50,000 (Phase-Out may apply - will link to instructions)
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040CR-5
MI-1040CR-5	Farmland Preservation Tax Credit Claim	1 page	Two pages - be sure to complete and file all pages
MI-1040CR-5	Farmland Preservation Tax Credit Claim	Household income	Household income is still used to compute the credit. However, you will begin with total household resources and then make the necessary adjustments to determine household income.
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040CR-7
MI-1040CR-7	Home Heating Credit Claim	No Filing Status	Added Filing Status ( line 5)
		Exemptions for: Age 65 and older Unemployment	Removed exemptions for: Age 65 and older Unemployment
		Disabled Veteran shared line with Deaf, Disabled, Blind	New exemption line for Disabled Veteran (line 13c)
		Four claimed dependent lines on form	Six claimed dependent lines on form
		Household Income	Total Household Resources
Form 4976	Home Heating Credit Supplemental	Not Applicable	New Form! If you have more than six claimed dependents the additional dependant information is listed on this new Supplemental Form 4976
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040H
MI-1040H	Schedule of Apportionment	Included Payroll, Property and Sales Factors	Removed Property and Payroll Factors
MI-1040H	Schedule of Apportionment	E-file allows only one MI-1040H form	E-file allows up to six MI-1040H forms
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change - MI-1040X-12
MI-1040X MI-1040X-12	Amended Income Tax Return (paper file only)	MI-1040X form (2011 and prior years)	New Form! MI-1040X-12 (for 2012 only) MI-1040X (for 2011 and prior years)
Tax Years 2011 & Prior
Form Number	Form Description	Tax Years 2011 & Prior	Tax Year 2012 Change
Schedule 2	Nonrefundable Credits	Refer to 2011 Schedule 2	Form Discontinued
Schedule CT	College Tuition and Fees Credit	Refer to 2011 Schedule CT	Form Discontinued
Form 4764	Energy Efficient Qualified Home Improvement Credit	Refer to 2011 Form 4764	Form Discontinued
MI-8839	Qualified Adoption Expenses	Refer to 2011 Form MI-8839	Form Discontinued