Taxes - March 2007

When an employer pays an employee (or a company paying a dividend to a shareholder), which is the one subjected to backup witholding?

2007-03-21 09:02:40 · 3 answers · asked by Anonymous in United States

We have done our taxes and owe money for Federal. We are expecting money back from the State, can I file the state that way we can use the reinbursement to pay for part of the federal tax we owe??

2007-03-21 08:58:13 · 0 answers · asked by Photo 2 in United States

How do I find out what my school district code is for my NY State Taxes? Why would I need this information in order to file my taxes if I have no children. It's a 3 digit number I can't find anywhere online. Help?

2007-03-21 08:58:02 · 3 answers · asked by snaggle_smurf 5 in United States

Im a full time college student, 18 years of age, earning minimum wage at a part time job earning less than 8k a year. I turned 18 in July of 06, and since that date, have not had an income tax deducted from my paycheck. My paycheck removes social security and medicare taxes, but no federal income tax ( i live in alabama). Do i have a tax debt, and if so how do i find out how much. I do not fully understand all of this complicated tax stuff, and i do not have many forms about my income. just simple paycheck stubbs. HELP!!

2007-03-21 08:56:07 · 4 answers · asked by KrittR23 2 in United States

I am so confused about deductions. my husband made several purchases for job-related items in 2006, amounting to about $4000.00. Our income (filing jointly) was less than $50,000, but when I tried to use the deductions, it said something about it being less than the "standard deduction" of $10,000 something. What does that mean? Can we not write off those expenses, or does the "standard deduction" take care of it?
Also, H&R Block said we were not eligible for the child tax credit (we have two kids). I thought you had to make $100,000 in order to no longer be eligible. I did our taxes myself to save $250 bucks, but we're not getting near the refund I thought we would. Help??

2007-03-21 08:48:36 · 6 answers · asked by paperclip 2 in United States

My previous employer will not send my my W2. They keep telling me that it was mailed but I have not received anything. I have called 3 times, sent to emails and filed a request. I don't know what else to do. It doesn't make it any easier that the W2 isn't being sent from my area.

2007-03-21 08:41:49 · 5 answers · asked by ♥--->{Shauntee}<---♥ 4 in United States

I heard so many stories but have not figured it out. Any tips on where or what form I need to fill out for this? Is it under deductions?

2007-03-21 08:38:44 · 1 answers · asked by SimplyUniQ 2 in United States

2007-03-21 08:35:35 · 5 answers · asked by UFgirl 2 in United States

Adding this as income will cause me to have to pay the IRS $11k; money I don't have. Is there a way to make payments to the IRS? if so, who do I contact?? Also, can any of the 401k w/ds be put on 2007 tax returns? need help

2007-03-21 08:31:56 · 5 answers · asked by css1929 1 in United States

Say I made 100k per year and get paid bi-weekly, how would I calculate how much I would make on each paycheck???

I would have the standard deductions of 2 for both State and Federal tax exemptions. My state would be Virginia.

How do I figure out what my paychecks would look like before any insurance and 401k deductions?

Thanks

2007-03-21 08:23:29 · 4 answers · asked by Anonymous in United States

I own a house, my husband is military and we have a lot of write offs for his work, my school, and the house. Who would be best to use? Or has the highest return/customer rating?

2007-03-21 08:16:07 · 6 answers · asked by uncertainthought 1 in United States

Thanks for the feedback, I'm not sure if it is a 1099G or w2G, they had me sign something at the cardroom and they did not actually give me and paperwork. They were supposed to send me something but I requested that they not, because I did not want anyone to know that I had won anything. My income for year combined with my wife was about $140,000, so i was not sure if the IRS would really miss the $720 or the tax on it that much. I would prefer to keep this between just me and the IRS without having to tell the wife.

2007-03-21 07:57:30 · 4 answers · asked by teriyaki 1 in United States

If I won $720 at a card room, which is a taxable amount over $600, and I do not file that W2G what happens? Also if I file an amendment to the my return with say HR Block, will I need both my signature and my wifes or just mine for an amendment? Please answer the questions seperately if you are able to, Im wondering what the IRS would normally do...

2007-03-21 07:44:49 · 3 answers · asked by teriyaki 1 in United States

it really bugs me that Brown has yet again increased the price of wine, beer,cigarettes with effect from six o clock this evening! Again there is no increase on spirits,(mmmmmmmm i wonder why?) Why is he lowering the income tax for corporate buisness and increasing it for small buisneses? The increase in child benefit increases by £20 for the first child...fab.... just gotta wait till 2010 to benefit, i am married and have 5 children we both work and we will be worse off by around £90 a year, I am reserving judgement on the £8 billion NHS reforms, lets see where it is spent first, just think its a fools budget yet again, any views welcome!

2007-03-21 07:30:27 · 6 answers · asked by Anonymous in United Kingdom

Let's say an Individual LLC lost 5K USD from trading stocks, but made 7K USD somewhere else and had an operating expenses of 2K USD at the end of the year. Can the LLC deduct all 5K USD captial loss from 7K revenue, so that it would end up making 0 USD (7K-5K-2K=0K USD)?

2007-03-21 07:30:01 · 2 answers · asked by Marvin E 1 in United States

2007-03-21 07:20:34 · 6 answers · asked by sailaway16 1 in Other - Taxes

California Resident-I am paying off 04 federal the interest is killing me any way out getting out of interest?

This is my ex husbands debt, we were seperated and even this is technically not my debt IRS does not care we were still legally married. Of course he is no where to be found and not working at least legally.

I get no child support and all I can afford is 100.00 monthly payments the interest is all I seem to be paying. What can I do to get the interest down or make it go away? I am honest and would like to pay the debt off but I can't afford to make higher payments. This has put a huge strain on me?

What to do?

2007-03-21 07:18:37 · 3 answers · asked by Justasking 1 in United States

I have purchased property outside of USA in 2006. Can i use it in itemized deduction. What form i have to submit? If i can't use it for itemized deduction then what are my other options?

2007-03-21 07:18:00 · 3 answers · asked by lax4u 1 in United States

2007-03-21 07:10:32 · 2 answers · asked by schizzle 2 in United States

The IRS sent us two identical refunds, one direct deposit and one by check. The check came first. Do they charge interest?

2007-03-21 07:07:08 · 10 answers · asked by rache 1 in United States

2007-03-21 07:01:24 · 3 answers · asked by jbasnight2004 1 in United States

2007-03-21 06:40:09 · 5 answers · asked by DOUG H 1 in United States

I closed on a CD at my bank in 2006. Is this a long-term capital gain on my 2006 taxes?

2007-03-21 06:27:43 · 6 answers · asked by slywakka250 1 in Other - Taxes

2007-03-21 06:12:34 · 4 answers · asked by kathleen h 2 in United States

Can you deduct the interest that the IRS is charging you on a payment plan from your taxes?

2007-03-21 06:04:22 · 3 answers · asked by Alan W 2 in United States

2007-03-21 05:58:01 · 5 answers · asked by johnny star 2 in United States

I had the stock trading gain last year. And I had the trading carryover loss before. I wonder if I can take some partial carryover loss and carry forward the rest. If I take all the loss, I'll hit the AMT. If possible, which IRS form will be used to keep track of any unused carryover loss?

2007-03-21 05:30:58 · 3 answers · asked by gf2006 1 in United States

I am going to file for the 1040ez form. However, how can I file for both federal and state taxes? I had some money withheld and I know I earned less than $5000. I also cashed in som government savings bonds that were valued around $2000. What would happen if I didn't add that as my income? Would they come to get me!

2007-03-21 05:13:59 · 7 answers · asked by chulhui123 1 in United States

I know which forms I need to do this on my own, but I like the ease that comes with e-filing. Any suggestions for someone who needs to file for foreign earned income?

2007-03-21 05:10:50 · 1 answers · asked by nitsrek 3 in United States

Just read the following on the Yahoo New pages"The government will from next April cut the basic rate of income tax from 22 pence down to 20 pence. The lowest basic rate for 75 years."

I know this might be a really stupid question but does this mean that for every pound we earn the government will take 20 pence?

2007-03-21 05:01:36 · 9 answers · asked by ¸¸.•*´`*♥Emma♥*´`*•.¸¸ 3 in United Kingdom