Taxes - January 2007

I just bought a house and my parents were going to give me 10,000
I heard if you deposit that much into a bank account they sent a notice to the IRS is that true and i will have to pay a gift tax of something. I tried looking up gift tax and they do not say how much the tax is and how much of a gift does it become an issue? THank you

2007-01-28 11:41:57 · 7 answers · asked by Anonymous in United States

Both represent sales of mutual funds in 2 kids respective UGMAs.

I hope I am mis-interpreting form 8814. It says can be used for "capital gain distributions", but I assume this does not include long term capital gains from a sale: correct?

Form 8615 allows cap.gains to be combined across kids so they can be taxed at a higher rate, but cap.losses are truncated to zero in line 3 so can't be used to balance other kids gains. Right?

Usually, in spite of the complexity, the IRA makes sense when you think about it. Can it be that they want to tax the sum of the capital gains of the kids at the higher rate, but not allow a balance with capital loss of the kids, even if they are allowed to balance out on individual tax forms? This seems unjust.

2007-01-28 11:41:03 · 2 answers · asked by helpme 2 in United States

What's going to happen when I file my taxes?

2007-01-28 11:35:57 · 2 answers · asked by TERRI L 2 in Other - Taxes

My loan was for $1,800.00 they have taken over $6,000.00 and yet I still owe $1,800.00. Every year no matter what my tax return would have been that is exactly what the penalties and interest are on the loan. I can't afford a lawyer but it doesn't seem right that they are in the loan shark business.

2007-01-28 11:29:08 · 4 answers · asked by Robin N 1 in United States

Pioneer Credit Recovery has signed a contract with the IRS.

Some Workers of Pioneer Credit Recovery are Immigrants, here on Visa’s.
One Immigrant has committed many acts of fraud using the data available thru the company. They have still conducted no investigation on the employee (s). They knew of the crimes for over a month, and nothing has been done.

How do you feel about that situation?
Do you feel this could effect you in any way? If so how?

2007-01-28 11:28:03 · 2 answers · asked by Me 4 in Other - Taxes

2007-01-28 11:26:45 · 11 answers · asked by superyduperymommy 5 in United States

Are these two seperate taxes or both the same just split up?

2007-01-28 11:21:13 · 2 answers · asked by tracymae@sbcglobal.net 1 in United States

I held four jobs in 2006. I was married on November 20, 2006. I changed my name with social security in mid December. I received a new social security card with my married name. I contacted all of my past employers and made them aware of name change and sent proof of change. Two of my employers STILL did NOT put my married name on my w2 statement. Can I still file online as is, or do I need to contact my employers and demand a corrected w2 statement? (I am filing for free with HR Block online.)

2007-01-28 11:15:50 · 10 answers · asked by Anonymous in United States

2007-01-28 11:03:27 · 3 answers · asked by Anonymous in United States

2007-01-28 11:03:11 · 3 answers · asked by Cajundweller 1 in United States

2007-01-28 10:56:12 · 2 answers · asked by Joann G 1 in United States

Turbo tax told me that I should contact my employer for a refund because they withheld over the maximum amount of social securitie taxes. What is the maximum amount?

2007-01-28 10:51:39 · 1 answers · asked by tracymae@sbcglobal.net 1 in United States

I have found this website to locate your EIN number if you have not yet received you W2 form and have your last pay stub. www.sunbiz.org then once in the site go to the drop box, click on coorporations trade marks.... ago from there! I know not all are there but it is helpful!!!! GL everyone with your return!!!!!

2007-01-28 10:48:20 · 1 answers · asked by H 2 in United States

2007-01-28 10:41:07 · 6 answers · asked by Anonymous in United States

2007-01-28 10:40:39 · 2 answers · asked by 360SD 1 in United States

whats the fastest way to get the info?

2007-01-28 10:19:12 · 4 answers · asked by ftgokie 2 in United States

do you have to report settlement award for damage caused by the builder?:

2007-01-28 10:15:24 · 2 answers · asked by volkswagenf 1 in United States

I have been working for myself the past year cleaning homes. I do not have a business name or any of that stuff...its just a strictly on the side job I do for myself. How can I go about doing my taxes for this money I've made?

2007-01-28 09:59:28 · 6 answers · asked by ? 6 in United States

I lived in NY for 2 mos of 2006 then moved to Minnesota. How do I handle the taxes?

2007-01-28 09:58:41 · 4 answers · asked by Anonymous in United States

I haven't filed taxes for about 17 years, I don't have records or any idea what i made, The only w-2 i have is 2006,Do i need a lawyer
and if i owe will they settle for my tax return for awhile,
THANK YOU

2007-01-28 09:53:29 · 10 answers · asked by Anonymous in Other - Taxes

2007-01-28 09:51:30 · 4 answers · asked by lindar 2 in United States

I live in Tennessee where there is no income tax. I work in Mississippi where there is income tax but no property tax. So I have the luck of paying one state's income tax (MS) and another state's property tax (TN). Now, to pay my MS state income tax, my wife's salary that was completely earned in Tennessee is calculated into how much I owe Mississippi. Can anyone explain how this is possibly justified? I see taxing my income for working in MS (I use the roads, services, etc, it's justified). But to require that I report my spouse's income she earned in Tennessee and factor that into what I owe seems improper. The only way to avoid it is to file married separately but then that messes up our federal return. Any tips?

2007-01-28 09:49:20 · 2 answers · asked by V 2 in United States

I live in New Jersey, and have never filed taxes before(I'm young and my parents always claimed me.) I'm a full-time student in college, and only made $1,470 in 2006. I just e-filed my federal return with Turbotax, but skipped the state return because in NJ there's a fee for state returns. Turbotax wanted $25.95 and since my state taxes from 2006 were only $20, I'd be wasting my money. Also, I know if you make less than a certain amount, you do not have to file at all, so since I only made a little over a thousand, maybe I don't have to file a state return? Thanks for any help.

2007-01-28 09:38:21 · 9 answers · asked by JerseyJeff84 2 in United States

2007-01-28 09:27:02 · 4 answers · asked by cindi e 1 in United States

....like computers, books, etc.

2007-01-28 09:01:10 · 3 answers · asked by Yea Yea 4 in United States

2007-01-28 08:52:33 · 4 answers · asked by d_millin32 1 in United States

2007-01-28 08:40:45 · 4 answers · asked by jkobar 1 in United States

Because my employeer didn't with hold enough, it looks like I might owe about $275 in federal taxes. I really don't have the money to pay this. If I don't file, is anything really liable to happen?

2007-01-28 08:32:37 · 17 answers · asked by Toney D 1 in Other - Taxes

In the mail I received my mortgage tax statement and one from having the timeshare and one from student loans. What would these forms do when I file my taxes? Should I use these forms, do I have to file them. Thanks

2007-01-28 08:31:00 · 2 answers · asked by chyna 2 in United States

It seems that the prepares at Jackson Hewitt are so anxious to get you in their chair. I witnessed two preparers about to fight over a customer. So there must be nice money in the businnese.

2007-01-28 08:30:51 · 2 answers · asked by oneradartwo 2 in United States