United States - February 2007

what are the differences between the forms?

2007-02-21 01:33:44 · 4 answers · asked by Anonymous

2007-02-21 01:13:56 · 4 answers · asked by Aaron C 1

Okay, this might be a little confusing.

My husband is a Truck Driver (Owner-Operator). He has been told that since he gets 1099-misc forms for taxes at the end of the year that he doesn't have to pay taxes on the full amount of his income - only on the part left over each month after household (rent, utilities, etc...) are paid.

Is this true? We live in the state of VA. If this is true, how do I claim this on our federal/state taxes... what forms do I use?

2007-02-21 01:10:19 · 4 answers · asked by Sarah 1

I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E.

However, exactly how does this benefit the owner? Lets assume the owner paid $500 over the course of the year in taxes and paid $100 in mortgage insurance.

Thanks!!

2007-02-21 01:08:22 · 2 answers · asked by J Silva 1

My husband and I are still married. However, I'm staying with my mom while he remains in our home. We don't want to do a legal separation because we are in the process of working it out. So, do we file head of household?

2007-02-21 00:53:10 · 7 answers · asked by mrsoliver727 1

2007-02-21 00:44:29 · 2 answers · asked by joyce r 1

In the States, how much is the Tax Break if I get married without children?

2007-02-21 00:37:22 · 3 answers · asked by AviTech 3

My wife is a teacher in NJ and has stopped working and did not receive a paycheck in 2006. She received a W2 from her work with zero dollars and the retirement plan box checked. This cannot be efiled. Do we need to file it?

2007-02-20 23:43:03 · 4 answers · asked by ryrat1 1

Hi, Does anyone know what the reference code 1301 means? I have been checking the IRS website and it was telling me that my return was being processed and I should receieve it my refund by 2/20. Well today is 2/21, and still no refund! So anyway, I cheked my status again this morning and it finally changed but it changed to "Your return is still be processed..." with a reference code of 1301. I called the IRS and they said that they aren't showing any errors, and that they couldn't give me a specific date I would receive it. She just said that I should have it within 6 weeks!! : ( Anyone else know what is going on or what code 1301 means?

2007-02-20 23:37:22 · 5 answers · asked by Anonymous

what will happen?

2007-02-20 23:21:42 · 4 answers · asked by budnagy 1

2007-02-20 22:54:45 · 5 answers · asked by Aaron C 1

So my husband's bank rejected the IRS' EFT that was supposed to go through last Friday because my husband and I have diffferent last names, and somehow they put his first and middle names on the refund and my last name (dont know how that's possible) but at any rate, the bank rejected the eft. What is my next course of action, will the IRS change the name on the EFT and send it again? If not how long will it take to get a paper check?

2007-02-20 22:53:52 · 3 answers · asked by Ruthie 1

When cashing in employer granted stock options, how is the tax liability figured? Is it a flat rate or based on your tax bracket? Please, use layman terms as I am not leagalise savy.

2007-02-20 20:48:09 · 2 answers · asked by Marine till Death 4

I made under $24K between both jobs, am single, no dependants, but it seems like I will be owing taxes...what am I doing wrong?

2007-02-20 20:17:53 · 5 answers · asked by sparky_girl 1

I submitted wrong information. How can I correct those informations if I already e filed my taxes and it went through? I Didn't receive the money yet but I think within one week I will. How Can I correct it before I recieve the refund? Thanks for your help.

2007-02-20 18:55:41 · 6 answers · asked by Urgo S 1

2007-02-20 18:40:06 · 4 answers · asked by Nobuo I 1

For example, a teacher from The Phillipines who is not a US citizen comes during the school year and teaches high school algebra in Virginia, returning to their home country during the summer break. Does this teacher pay state and federal income tax?
Do any non US citizens who work in the US have to pay state and federal income tax?

2007-02-20 18:27:30 · 5 answers · asked by Anonymous

this is my first time filing for taxes, and my dad told me I could have gotten a refund last year because i made so little money (less than 10,000) i'm filing this year but can i still have last years done or is it to late?

2007-02-20 16:42:47 · 6 answers · asked by y2quest 1

I owe money to a government student loan and they are already garnishing my wages and I just recieved notice today that they took my state refund can I anticipate them taking my federal tax return too?

2007-02-20 16:32:30 · 8 answers · asked by Jennifer D 1

2007-02-20 16:20:09 · 5 answers · asked by savestheday205 1

I have my pay stubs as proof that they withheld 50 percent of my total income in my W2. Should I report them to the Department of Labor?

Please help!

2007-02-20 15:05:09 · 6 answers · asked by Anonymous

A company that I formerly worked for sent me out my W-2 for last year, and when I went and got my taxes done, apparently it said that no state taxes were taken out, for MD or PA (where I live). I knew that was wrong, but I couldn't prove it so I just got my taxes done. (I left his company in a bad way because they are unethical.) I just found my last pay stub from last year that covered the time up until I left. It not only said that $700 in MD taxes were taken out for the year, it said I made $4,000 LESS than what was reported on my W-2. Now I have to go back to the tax place with this pay stub and show that taxes were really taken out and my income was wrong and refile or whatever it is I have to do. Will I get in trouble for tax fraud?

2007-02-20 14:22:18 · 2 answers · asked by Bachman-ette 4

2007-02-20 13:50:07 · 5 answers · asked by Tom C 1

We do not own a home, we rent. We do own property and sold it. How do we know what to base the tax on. Can we take the value of the property and subtract that from the sale of the property and pay taxes on the difference?

2007-02-20 13:38:52 · 4 answers · asked by jerry 3

Then I found this. Can someone tell me what this refers too? See number 3. The website is
http://www.ador.state.al.us/incometax/1webreghold/810-03-015-20.htm
Thanks

810-3-15-.20 Federal Income Tax Deduction - Individuals.
(1) DEFINITIONS. For the purpose of this regulation, the following words, phrases and abbreviations have these meanings:
(a) FIT: Federal income tax. Deductible federal income tax includes:
1. Federal income tax withheld by employers during the taxable year.
2. Excess social security or Medicare tax (FICA) and railroad retirement tax (RRTA) withheld during the taxable year…
3. All federal income tax payments made during the year for liabilities of prior years, including the previous year's payment made when the previous year return was filed.
4. All federal income tax estimate payments made during the year….
5. Earned income credit of the previous year which was applied to the previous year's federal income tax liability.
6. Alternative Minimum Tax.

2007-02-20 13:32:56 · 8 answers · asked by t_williams_1 1

2007-02-20 13:24:55 · 14 answers · asked by chill 1

I received a 44 cent raise and work part time. I have not changed the number of dependants or anything. Why am I receiving a return that is considerably lower this year?!?!

2007-02-20 13:09:55 · 7 answers · asked by Cutie Pie 2 4

2007-02-20 12:43:51 · 2 answers · asked by ga 1

My question has to do with whether or not I can claim my nephew as my dependent. It's a complicated situation.
My sister and my nephew lived with my dad in my dads house and my dad took care of both of them. My dad has custody of my nephew. They lived in my dads house up unil my dad and my sister started having problems with her boyfriend in which they all moved to my house. My nephew lived with me off and on during the summer of 2006 and from Sept-Dec. In Dec I bought my dad and nephew a new house and my sister has moved out back with her boyfriend. Since my dad has custody and he does not file taxes and my nephew did live with me for most of last year can I file him on my taxes? Is there anyway that we can know if my sister has filed him on her taxes before I file my taxes? I don't want to anything illegal and I also don't want to get audited. I mean who does? Any advice on this topic would be greatly appreciated. Thanks!

2007-02-20 11:33:04 · 5 answers · asked by Kathy 1

2007-02-20 11:28:30 · 7 answers · asked by mootsman 1