United States - February 2007

Before I bought my car the salesman stated that I could deduct the sales tax I paid on it. Where would this go on my 1040? Do I have to itemize my deductions to claim this deduction? It was only like $1850 and I really dont have too many other deductions. If, so I guess I am better off taking the standard deduction.

Thanks.

2007-02-15 08:05:14 · 6 answers · asked by Eric 2

it used to be that a bank would only report your interest to the IRS if it was over $10 per year. I am not sure if that is per depositor or per account.

Is this still the case or do they now report all interest earned?

thanks

2007-02-15 08:01:45 · 5 answers · asked by brainiac 4

2007-02-15 07:55:13 · 3 answers · asked by sandra w 1

My dog will be old enough to breed come June of this year and I was going to make a business out of it..am I able to claime her on my taxes for 2006????

2007-02-15 07:51:25 · 3 answers · asked by Jes 2

2007-02-15 07:48:55 · 7 answers · asked by jamesgressinger 1

2007-02-15 07:44:06 · 3 answers · asked by dh8280 1

2007-02-15 07:43:34 · 2 answers · asked by dh8280 1

My previous employor hasn't sent my W-2's. We had several payroll companies and has all of 2006 W-2's execpt Jan-March. In that time he cut me checks out of his personal account like I was paying taxes. He hasn't responded execpt to say I shouldn't claim that time period. Won't this mess up my taxes? And wouldn't I be exempting my refund on the taxes I paid for that time period? I believe he should reemburse me for the taxes and then 1099 me. Is this right? What can I do to make him give me my W-2's?

2007-02-15 07:41:14 · 9 answers · asked by amanda_axiom 1

She lived with me in 2006 until she died June 20. She had income from Social Security. Do I have to include her income?

2007-02-15 07:41:03 · 6 answers · asked by Anonymous

I haven't filed my taxes yet and am looking for a recommendation for a good online tax service that is free.

2007-02-15 07:17:55 · 15 answers · asked by Spring M 1

My father-in-law died in 2006 and we were given a portion of his inheritance (along with 3 other brothers) and I know the Executor of the will paid estate taxes. I have read that if you inherit $$ from a family member that it is not taxable, but if it is from a friend or aquaintance or a distant relative that a portion of it may be taxable. What if there was an investment distribution that was paid out and you get a 1099 form for it----how does that work as far as showing it was an inheritance or are you required to pay taxes on that portion?

2007-02-15 07:07:03 · 5 answers · asked by MarineMom 6

My income is too high to qualify for Hope and Lifetime Education Tax credit. But I saw couple days ago at Yahoo News post "13 Tax Breaks " mentioned: (College Tuition for those have high income...) on line 35 of Form 1040 I just write "T'' to the left of that line for College Tuition up to $4,000.00 in 2006, since my daughter tuition is $4,529.00. Please help me if you know anything.
Thanks

2007-02-15 07:04:07 · 6 answers · asked by cameralover 1

Where do I get the forms?

What happens if the person doesn't give me their SSN?

2007-02-15 06:50:38 · 3 answers · asked by kim 2

I am still waiting to hear from somebody who can tell me By Whose Authority the IRS collects money - Please read the question folks.I know the Gov has laws about taxes, but who gave the IRS the authority to collect them ? - And the IRS IS NOT a FED Agency - Gee folks !!!!!

2007-02-15 06:43:34 · 6 answers · asked by Semper Fi 1

I really need the deposit, how often do they find mistakes? I don't mind when they do and setting up a pay plan, but I REALLY need it. Thanks.

2007-02-15 06:42:58 · 6 answers · asked by Sugar Bug Surprise 1

I did a simple 1040 online with the same company I have always used. I forgot about my sale of stock. So I failed to include any 1099-B info. It has been six days and still no word. I am kinda worried. I took the residential energy credit(5695) also. I have heard there are problems with it also. I tried before and It came right back rejected because of that form. Then I read to send federal only. So I did and now im waiting. Should I be worried? Are they gonna audit me bacause I forgot $2000 on stock sales? Is it still too early for 5695? Please help!

2007-02-15 06:35:57 · 6 answers · asked by tired21_wm 1

When I filed my taxes last year, I winded up owing state taxes. This year when I filed I'll be getting a refund on my federal return but still owe state taxes from last year. Can the state take my refund from my federal taxes?

2007-02-15 06:32:17 · 5 answers · asked by donnaC 1

Better yet, can we file our 2006 in 2007 and just pay a penalty? We were suppose to get back nearly $7000, before I added the information from the 1099-R. Now we owe $1570. We could truly use the refund monies if at all possible. Any other suggestions would be great as well. Thanks

2007-02-15 06:32:04 · 13 answers · asked by Angela 1

So, we did our taxes with the TaxCut software from H&R Block. The return has been processed and according to the IRS website, should be deposited in our account tomorrow.

My question is...when we filed, we did not want to pay the cost up front for the e-file. So we took the "Simple Pay" option that deducts the fee straight from the return.

This is what it states:
"Simple Pay gives you the option of paying your e-filing fees without having to use a credit card.

For a $24.95 fee, HSBC Trust Company (Delaware), National Association ("HSBC") will receive your federal income tax refund in an account you open with HSBC, pay TaxCut your applicable e-filing fees, and deposit the balance of your federal refund amount into the bank account you designate. "

Has anyone used this before and will it delay my refund so I do not get it tomorrow?

2007-02-15 06:26:46 · 6 answers · asked by Chris M 1

I have read many answers BUT nobody has yet told me WHEN CONGRESS stipulated the IRS were to collect taxes from me.
Sorry folks, but the IRS IS an independent corporation /
The lawto collect is one thing-Bur for the IRS to do it is another !!!

2007-02-15 06:26:11 · 11 answers · asked by Semper Fi 1

When I got this original message on irs.gov - I came here and read up on what was going on and realized mine had fallen into this category of "delays due to......whatever..." But I don't see any refrence numbers or codes with the text on my message - and I called the irs and they seem to have a clue - ALL the guy I spolke with say he knew was "there are delays this year - you'll just have to wait"

here is the messege:
"We have received your tax return and it is being processed. Your expected refund date has been changed due to processing delays. You should receive your refund by February 27, 2007. Please wait until that date to contact us again because we cannot take any action until then. Thank you for your patience."

Is this the typical message everyone is getting? And since they don't deposit on Tuesdays - which is what day the 27th falls on - I wonder when I'll get my refund????

2007-02-15 06:25:03 · 4 answers · asked by alijewyl 1

If you know that someone is lying on their taxes just so they get money back what do you do?

2007-02-15 06:23:34 · 2 answers · asked by Anonymous

is paying an employee under the table tax fraud

2007-02-15 06:16:53 · 9 answers · asked by ampowers75 1

How long on average does the Direct deposit take from Federal refund, if we mailed the taxes in last week? He wouldn't efile because he said the gov't rips us off by charging a fee.

2007-02-15 06:15:13 · 8 answers · asked by jasontogs 3

Had a fire and lost everything. Need to refile or going to jail please help. IRS is no help please help where can I get blank forms to print out for 2005 and 2006

2007-02-15 06:14:50 · 3 answers · asked by PrettyEskimo 4

The equity is from the gain from past homes. I need the money to pay off debt and will not be buying another home. If the money is taken out as a second mortgage but repayed late this summer when I decide to sell the home and move into another home we own, will it be subject to capital gains tax?

2007-02-15 06:14:34 · 5 answers · asked by Kat 2

I've purchased another home for more than what I received in the sell of the old home.

2007-02-15 05:53:22 · 3 answers · asked by Linda 1

Yesterday when I checked the IRS website under wheres my refund, it stated that my refund would be deposited on the 16th, when I checked this morning, Your return is being processed and if you have not received your return within 4 weeks please call the IRS and mention reference number 1221.

2007-02-15 05:51:00 · 4 answers · asked by Denise B 1

you know that part where you claim 1 or 2 exemptions on your w2...well which one gets you the most money? which one does tax take out more out of?

2007-02-15 05:49:19 · 3 answers · asked by msph05 1

I bought a home in 2000 and married in June of 2006 and moved in with my husband. Sold my home in July 06. My husband is in government service. He got a job, moved and bought his home in 2005. Right after we married, he was promoted and asked to move again, 800 miles away. So we sold his home in 8/06 and purchased another in 10/06 at the new location. Is the profit from sale of homes taxable? Even if move was at request if govt.?

2007-02-15 05:47:40 · 5 answers · asked by juneaulady 4