Taxes - December 2007

There is case law in regards to this matter. Also, according to the FinAid.com Website it states, if the parents are claiming the student as a dependant deduction, it IS their responsibility. Your thoughts? Parents are making combined 125K per year and this is the only child persuing college per the advise of the parents.

2007-12-21 10:52:04 · 3 answers · asked by Jason B 1 in United States

I am an immigrant Permanent resident.I have been jobless for one year now,am I still required by law to file for taxes or not?

How do I go about it??

I am new to this system, I would be happy for great answers and helpful contributions.

Thanks.

2007-12-21 10:51:54 · 8 answers · asked by TFSI 1 in United States

2007-12-21 09:46:43 · 2 answers · asked by privateaccessonly 2 in United States

My friend loaned me a total of about $13k over the past 2 years. We have nothing in writing; just a verbal contract that I would pay him back when I was able to. Well I am going to be able to very soon due to the sale of some property. Can I just write him a check for the amount I owe him and forget about it? Or is there some sort of paperwork I must complete for taxes?
Thank you for your help.

2007-12-21 08:42:59 · 2 answers · asked by Criss_Mousse 3 in United States

2007-12-21 08:27:04 · 2 answers · asked by stunston 2 in United States

I have the copy of the check that I got from work that I cashed in at one of those 24hour Vegas check cashing places -- which I completely lost every cent of.

I made a journal note in my records -- is that good enough? I lost 2K spread over 3 days.

Cheers!

2007-12-21 08:07:44 · 10 answers · asked by Anonymous in United States

what are the penalties for making mistakes - i.e., reporting numbers in the wrong place thereby changing AGI (for example)?

I just don't want to go to jail for making honest mistakes.

What types of mistakes would land someone in prison? I know the obvious - such as reporting $45K income when the IRS gets reports of $150K - but I was wondering if mistakes in my stock trades data will get me in trouble since it is pretty complicated to fill out for stock trades.

Cheers!

2007-12-21 07:48:29 · 9 answers · asked by Anonymous in United States

I understand that those are the only two types of tax that the Federal government can impose on the people of the 50 states.

2007-12-21 07:08:37 · 3 answers · asked by Flam Glamalam 2 in India

Has anyone ever won a legal battle against the IRS, as far as proving that they didn't make "income" for a particular tax year?

2007-12-21 06:51:04 · 8 answers · asked by Flam Glamalam 2 in United States

there are not any way of payment in country if i will not pay the money to the Parcelcarrier company i with lose the money...what should i do?how can i pay?

2007-12-21 06:40:44 · 17 answers · asked by Ranjaw 1 in United Kingdom

I was recently employed for a performance gig on-campus this month. I wasn't told when I received the paycheck that I would have to file this payment under "self-employed" status and if I did not, it would be punishable by law.
As a college student, I do not keep important documents such as those in my dorm room because it's too risky (idiot facilities workers and students). My mother tells me that I cannot claim this because I am still a dependent until I graduate.

What is the proper procedure for this when I have to file taxes? The payment was only $25, so I'm not sure if the amount is even enough to file--last I knew, if you earned $600 and above independently, you had to file it. I could be completely wrong here, so I'm hoping you guys can help me!

Thanks!

2007-12-21 06:32:35 · 5 answers · asked by Anonymous in United States

I'm from the U.S. To me I don't feel that it is the same because these online casinoes are usually based in other countries. I've used King.com run by UK and it's not really gambling but I play games and have won over 3,000 from that website competing with others. I've never claimed it on my tax forms. If i were to get audited how far back do they audit me? 1 or 5 years back?

It sounds like a stupid question, but really why do i need to file these for taxes?

2007-12-21 06:31:17 · 6 answers · asked by KnowMe 4 in United States

I start work in Jan 2008 but I want to contribute to my ROTH 07 as well since the deadline for it is around April 2008.

Do I need reported income on 2007 to be able to contribute to my ROTH IRA for 2007?

2007-12-21 06:15:15 · 1 answers · asked by Michael B 1 in United States

But I have the returns for 2003, 2004 , 2005 and 2006

can I complete My state forms from the information on the completed federal forms


I realize I have to get the W2 to actually file with the state but I was wondering is this a possiblity

2007-12-21 06:14:10 · 2 answers · asked by Olive Crayon 4 in United States

Since they are almost the same, is it true that the government only takes one payment per year for the identical twins or do they have to pay per person?

2007-12-21 06:13:26 · 7 answers · asked by Anonymous in Other - Taxes

2007-12-21 05:58:43 · 5 answers · asked by Elia V 1 in United States

my kids father is lying about his income and the courts are demanding that i pay an enormous amount of child support

2007-12-21 05:36:10 · 5 answers · asked by idunno 2 in United States

I am self -employed and have all my stuff ready to go but want to e-file with tax brain or turbo tax again this year..

2007-12-21 05:17:04 · 4 answers · asked by jamei_matteson 1 in Other - Taxes

Referring to the EITC?? Can you claim yourself? I mean if you have a job and are working full time AND ARE ALSO a full time college student???

2007-12-21 04:29:06 · 3 answers · asked by Anonymous in United States

I have been considering doing a short sale. But I know if I owe $358 and I get $300, then I owe taxes on the $58 difference because the bank considers it a gift. If I do a foreclosure, will I have to pay taxes on that?

2007-12-21 04:19:47 · 4 answers · asked by Tracy L 1 in United States

2007-12-21 02:56:51 · 2 answers · asked by bestlggs 2 in United States

My mother, who is married to my father who is not working, is still working and contributing to her 401k at her job in a grocery store in Florida. She is 78 years old and my father is 84. Can my mother take any distributions from that 401 k? Are these distributions taxable just like a normal 401k?

2007-12-21 02:30:53 · 5 answers · asked by Anonymous in United States

A new job I am starting wants to see my tax returns for the past 2 years, but I have been out of work and have not had any income. Where can I get a fake return made up?

2007-12-21 02:23:18 · 5 answers · asked by Anonymous in United States

I've missplaced my 2005 income tax paper, I filed them myself was wondering if somewhere online I could go to find out how much I made that year.

2007-12-21 01:34:51 · 5 answers · asked by shirley44004 1 in United States

Hi, I just turned 18, and my place of work is asking me to fill out IRS forms. What do my employers need these forms for? How would this affect my income? Or say how much would it affect my income? Is there a step-by-step process that I can do to ensure everything is filed correctly?

2007-12-20 22:33:25 · 5 answers · asked by Anonymous in United States

2007-12-20 22:17:53 · 2 answers · asked by Anonymous in Other - Taxes

2007-12-20 20:47:30 · 13 answers · asked by Murali M 1 in India

what this form do and what is it for? do i have to file this information to the annual tax income during april? even i only make about 1000-2000 dollar a year, on what amount that i must file this information for the annual income tax?

2007-12-20 19:28:29 · 3 answers · asked by chogoku217 1 in United States

I file single and claim zero on my taxes, so needless to say this damn government takes the max out. I dont have kids, my total federal taxes withheld is usually 4000 each year, however my refund is alway less than 1000, usually 900. How come its not even close to what i pay in. I feel i should get more back. I just dont understand. Please someone explain.

2007-12-20 16:30:42 · 8 answers · asked by rogersjwr 1 in United States

2007-12-20 15:57:49 · 6 answers · asked by Anonymous in United States