Taxes - October 2007

2007-10-15 23:48:37 · 3 answers · asked by Mary G 6 in United States

Over the past 9 years I have been oweing the IRS over $30,000. I have since switched my tax preparer and now recieving $2,500 to $5,000 tax refund annually. I now owe approx $15,000. I was told if I write a letter to the IRS they would forgive some of the penalties and possibly some of the actual money. Who do I write this letter to and what should I say?

2007-10-15 20:44:27 · 2 answers · asked by dwaindaddy 2 in United States

A relative of mine has recently passed away, prior to his passing, he informed me that he had left me some money in the form of an inheritance. My question is, does money that you inherit from family get taxed or need to be reported at all to the IRS?

2007-10-15 17:01:53 · 3 answers · asked by bajicorsair 2 in United States

2007-10-15 16:47:46 · 6 answers · asked by Anonymous in United States

What is the email address for the IRS in California?

My mom and i are finishing our taxes.

2007-10-15 16:09:42 · 3 answers · asked by Anonymous in United States

so only I received 1098s. I have no income to report for 2006. She earned all of the household income and is on the title - can she use the deductions?

2007-10-15 15:48:15 · 7 answers · asked by Rod J 1 in United States

Does it make a difference if the taxes (state and fica) are withheld by an employer or if you are self employed? I know you can't deduct federal taxes.

2007-10-15 15:47:08 · 4 answers · asked by J C 3 in United States

If a homeowner sells at a loss because the market has dropped, but his ARM has kicked in and his payments have gotten too high for him to pay, the "write-off" of part of his loan is counted by the IRS as income. This phantom income is taxable. I thought I heard that Congress passed a bill which stops this taxation. True?

2007-10-15 15:40:40 · 3 answers · asked by Marlin B 1 in United States

2007-10-15 15:39:16 · 5 answers · asked by Gina 2 in United States

I need to file my taxes from this year NOW! My deadline is up and I am going to do efile....my problem is though, HOW? Should I file as "Individual taxpayer" or as Business/self- employed because half of last tax season I was self employed and half the other I left that and was working as private contractor

2007-10-15 15:38:55 · 4 answers · asked by Señorita Bonita 2 in United States

2007-10-15 15:16:49 · 12 answers · asked by adkjlsf a 1 in United States

2007-10-15 15:02:51 · 7 answers · asked by Mae B 1 in United States

this is considered an asset sale, selling it for less than I bought it. Can I claim a loss on my taxes? And since I haven't paid myself back for the money I put into the business when I purchased it, can I pay myself back and not be taxed? It's set up as a corp. and I have taken the depreciation on equipment. What's my personal tax liability?

2007-10-15 14:59:25 · 2 answers · asked by B2705 1 in United States

We live in michigan, but Im wondering about the federal portion of our taxes. Is it legal for one, and second would it be better (meaning getting more money back) for us to each claim one of the children, seeing as how we are not married?
We also both live together and claim 0 dependants.

2007-10-15 14:03:45 · 8 answers · asked by Jules S 1 in United States

2007-10-15 13:54:12 · 1 answers · asked by k 3 in United States

I thought it was about $7500 in total from the standard and single deduction together but I may be wrong?

2007-10-15 13:43:41 · 2 answers · asked by Mae B 1 in United States

2007-10-15 12:52:45 · 4 answers · asked by emario18 1 in United States

Just wondering if he's in some special sort of rich club that has different tax laws to the rest of us.

2007-10-15 12:29:59 · 4 answers · asked by Anonymous in United Kingdom

Do you have to take out taxes if you hire someone for personal work, such as mowing your lawn or cleaning your home, if you are paying them straight out of your pocket? If anyone could answer and possibly give a few references(preferably websites or books) it would be greatly appreciated. Thanks

2007-10-15 12:29:57 · 2 answers · asked by Anonymous in United States

If I work 30 hours a week at 8.04 an hour...and I claim zero (my husband claims me our son and himself) would alot of taxes be taken out weekly? I live in new york state if that makes a difference. Im just trying to figure out if its worth taking the job...after taxes and gasoline getting back and forth...

2007-10-15 12:18:30 · 2 answers · asked by Army♥Wife 6 in United States

i need to know what's the next step to get this job i need sooo badly. what do i say and do

2007-10-15 12:13:35 · 2 answers · asked by clarence.guillory@sbcglobal.net 1 in United States

HAS MY MICRO SURGERY BEEN SUBMITTED TO BWC

2007-10-15 11:51:33 · 3 answers · asked by j_buchanan@att.net 2 in United States

i am having trouble paying sales tax on a used vehicle i just bought.i am in arkansas its been three months already.what can i do?

2007-10-15 11:34:12 · 3 answers · asked by locdogg024 2 in United States

tax returns. so do you know?
best answer for the best answer ...apparently. and if you give a certified website, then it's a def that you're going to get it. ... . .only if you care

2007-10-15 10:53:58 · 5 answers · asked by Anonymous in United States

If I worked 15 hours out the week and made $6.50 per hour, how much money would be takened out for taxes by the end of the month?

2007-10-15 10:35:35 · 4 answers · asked by Anonymous in United States

I claimed exempt for about 2 months cause I was getting garnished so now I am trying to catch up so I won't have to pay alot of money. So my question....Is federal suppose to be higher than FICA? Right now I am about hundred dollars more in FICA than federal thanks!!!!!!

2007-10-15 10:15:50 · 2 answers · asked by ? 5 in United States

How do poor people get such large refunds? The word 'refund' to me means that you had to pay the money first and then get the money back at a later time. Some of these people are unemployed/get paid low wages/have zillions of kids... etc and get big refunds. I know they don't pay enough in to get $5,000 back. What is going on with that?

2007-10-15 09:56:26 · 7 answers · asked by race_car_bed 2 in United States

I just got a job at Target, and I put down that my mother claims me on her taxes. I'm 18, but I'm still in school. At least I will be in April. Do I still get a tax check or what? I'm confused because this is my first job.

2007-10-15 09:52:35 · 10 answers · asked by karolinka 4 in United States

He makes a lot of money, but we do not know how to protect his income from extreme taxes. Does anyone know who we can talk to or where we can invest to protect his income? This is his first year to do this. Thank you!

2007-10-15 09:23:53 · 6 answers · asked by Krystal 3 in United States

Or if instead of buying a house, I want to buy a retirement annuity, would I have to pay tax on the sum of the 403b and then pay tax each year on the money from the annuity?

2007-10-15 09:16:52 · 6 answers · asked by Corinnique 3 in United States