Taxes - April 2007

thats right its april and i still have no refund i was getting the code of 1121 for 2 months(wheres my refund link) and i called at least 15 times and they could not tell me a damn thing!!just that it was delayed now i checked it and it gives me a 1201 code? does any one know what this means??????

2007-04-25 14:52:28 · 6 answers · asked by flacome2001 1 in United States

2007-04-25 14:21:24 · 2 answers · asked by Robert O 2 in United States

2007-04-25 13:57:27 · 5 answers · asked by tom c 1 in United States

I am selling a condo for $200,000 on the east coast. I purchased it 3 years ago for $85,000. I lived in it the last three years. I plan to sell it and move to the Mid west where I plan to buy a house for between $110,000-$150,000.

How does the capital gain tax work? Will I have to pay taxes on $115,000 for the difference between buying and selling price on condo? or will i only be taxed on the difference bewteen selling price of condo and buying price on house in the Mid west?

Please help.

2007-04-25 13:37:51 · 6 answers · asked by donotbuyepsonproducts 2 in United States

I really need help on this subject, searching the internet hasn't really given me the direct answers I need. Here's what I need to know.

How do I calculate how much tax I pay on my winnings?

What form do I use to report sports gambling taxes?

Are Sports Gambling taxes, State, Local, or Federal?

Please help, I want to pay my taxes the right way.

2007-04-25 13:23:14 · 2 answers · asked by eXp 2 in United States

has anyone ever had a similar experience? The IRS said that I'd receive a notice in a few days explaining why the amount is different. They also said if I'm certain the amount is too high, to return the check explaining why. I have no idea as to why they sent me so much more, but I'd sure like to keep it. What's the chances that the IRS is right? Is it interest that they're paying me? It says interest on their check.

2007-04-25 13:08:22 · 13 answers · asked by rikdi2 1 in United States

House sold 7/06 for $700K
Original purchase price $267 4/02
Improvements $106K (basis = 373,000)
Widowed 3/96 house value at the time was $390K
Question: Does this mean I have to pay taxes on 700,000- (.5X373=186,500) - (.5X390=195,000)-250,000=68,500?
Worried...Thank-you

2007-04-25 12:57:24 · 6 answers · asked by SQD 2 in United States

Dow just broke 13,000 and tax cuts are horrible? Please explain that to me?

2007-04-25 12:19:11 · 5 answers · asked by Anonymous in United States

I need to know if the current owner is responsible, or the owner that had the business when the taxes were accumalated.

2007-04-25 11:24:18 · 4 answers · asked by mistkie 3 in United States

2007-04-25 10:36:01 · 5 answers · asked by phatmomma 1 in United States

I've been on a work visa in the USA for about 8 years now and have about $60,000 in my 401K. My work Visa is up next March and I'll have to return to Canada.

I know there is a 10% withholding tax if I withdraw it but if it is in a low income year (as I will only work 3 months) is that going to be less than the flat 30% tax that will be taken out if I remove it as a non-resident?

I know that leaving it in an IRA making tax free returns is a decent option but I'd rather move it elsewhere and want to get the most I can out of the money I've saved.

2007-04-25 10:25:47 · 6 answers · asked by Jason T 4 in United States

My friend is an accountant and she filed my tax forms before the deadline. Unfortunately, I have to send it myself. I'm a bit of a forgetful, sadly, and a disorganized individual. I'm too busy with too many things happening this month alone. Anyhow, I have yet to send the tax form and I was wondering what will be the consequences of sending out the 1040 and 540 tax forms late?

2007-04-25 10:21:31 · 8 answers · asked by ۩ а я ώ  и ۩ 2 in United States

im asking beacuase im doing a 6 paragraph essay on the subject.
we are suposse to pick a topic about an american issue.
and we can either be For or Againist the topic.
and on this topic i chose to support it.
which means im for private funding.

kinda lame topic but its a very good issue in america.

so help me out please.

2007-04-25 10:18:59 · 1 answers · asked by xSABRINAxRAD 1 in United States

can u get lost w-2 forms from the year before?

2007-04-25 10:09:30 · 5 answers · asked by Anonymous in United States

DOES THIS COMPANY OR ANY OTHER LOAN MONEY BASED ON FILED RETURNS REFUND?

2007-04-25 09:53:40 · 6 answers · asked by RUDY F 1 in United States

2007-04-25 09:46:02 · 3 answers · asked by Anonymous in United States

i live in PA, work in new york city. bought a house recently in queens, mostly for investment purposes. i am not using the queens house yet...its in a bad neighborhood and have no intention of living there. if i claim PA as my residence in my taxes, am i going to get in trouble with the IRS as i own a closer property to my job?

2007-04-25 09:30:33 · 8 answers · asked by Jack N 1 in United States

they threatened to put a lien on my assets (which I dont have!)

2007-04-25 09:22:31 · 12 answers · asked by jasonhewitt3 1 in United States

NY State deposited my check already (what I owed), but Federal has not. How long usually until they deposit my check (take money away)?

And when they do, does it mean, I've done my taxes properly?

2007-04-25 09:21:42 · 2 answers · asked by Stan 1 in United States

2007-04-25 09:05:47 · 2 answers · asked by carolynjlalena 3 in United States

Tax return had been prepared in the past by my father who was involved with the business (ins agency, 2 employees) .He is no longer working here, and in figuring out future cots, I am curious as to the cost to have our corporate tax return prepared each year and how long does it take to have it done. Thanks.

2007-04-25 08:35:46 · 3 answers · asked by Dee 1 in United States

The year the wife was abandoned, she was able to claim her daughter as a dependent and also filed as HOH. The following year the daughter was only in school 4 months (not the required 5 to be a qualified child.) In this case would the wife file as Single or MFS?
Thanks

2007-04-25 08:19:18 · 3 answers · asked by Anonymous in United States

My wife (as of '06) omitted a major portion of her salary for 2005 taxes, because it was received as a stipend as a fellow on an NIH training grant. Her university was not allowed to take out taxes, and up until April 2005 it was debateable whether NIH-NRSA postdoctoral trainees are subject to FICA and medicaire withholding (the IRS now says it is). So we just got a letter now telling us she is liable for taxes on an extra $45000 salary (apparently they haven't gotten to our 2006 taxes yet, since it will be the same for that year).
Apparently some of her co-fellows claimed (to tax authorities, on the advice of their employer) to receive the stipend as a loan, which they pay back with health-related service in the years after the loan.
We have until May 16 to get back to the IRS, and we are not sure what to do. She did not knowingly do anything wrong, and H&R Block did nothing to help us, even though they signed off on it... If we have to, we'll pay, but it's a lot of money...

2007-04-25 07:50:13 · 3 answers · asked by Anonymous in United States

If I claim 0 allowances on my W4 (Fed) and 0 allowances on my VA-4 (State) then how do you calculate how much tax is actually withheld from claiming 0 allowances on each tax?

I was curious if it was a standard percentage or a table or something else and where I could find it for my state (VA) and Fed. Thanks for your help!

2007-04-25 07:48:19 · 2 answers · asked by thamamasboy 1 in United States

What's the consequences of not doing taxes?

2007-04-25 07:28:44 · 4 answers · asked by shadowcat_97008 1 in United States

I have to do this for a school thing and I have no clue!

2007-04-25 05:30:27 · 12 answers · asked by Anonymous in United States

My husband owes the state money and which they said they would take his taxs next year. my question is do i have to claim with him in order to get my unearned income credit????

2007-04-25 05:02:35 · 4 answers · asked by Shawna V 1 in United States

Been searching with no luck. I know I have to file them (got the default 2 month extension for those abroad).

Anyway... I'm married to a foreign national (nonresident alien). IRS says I can file one of three ways, joint, single, head of household. Problem is, all require my spouse have a tax number, which isn't the case. In fact, I see no reason to report my spouse's income as she has no obligations to the US.

Anyone know how to file in this case? Thanks

2007-04-25 05:00:47 · 4 answers · asked by Anonymous in United States

I am just curios if anybody knows.

2007-04-25 04:14:57 · 3 answers · asked by Anonymous in United States

I've just begun mystery shopping and it says i'm an independent contractor...my friend said that means when tax season comes around I mite have to pay taxes since they don't take it out of my paycheck...i was wondering is this true and what exactly does it mean to be an independent contractor?

2007-04-25 04:09:26 · 2 answers · asked by m0nkey98 1 in Other - Taxes