United States - February 2007

For the last couple of years I didn't file my federal income taxes because it was figured out that I owe and I wasn't able to pay at that particular time. How do I go about rectifying this with the IRS and will the penalties be real expensive.? I owe approx. 3,000..and that's not including taxes for 2006. Should I call the IRS?

2007-02-27 08:12:04 · 4 answers · asked by stella 2

I live in Virginia but own land in Arizona that I would like to sell. I plan to use the sale of the land to pay off the existing mortgage on my primary residence in Virginia. Will I still pay capital gains? I have owned the land for three years and it has appreciated quite a bit. Thanks.

2007-02-27 08:09:58 · 4 answers · asked by spelldine43 2

I need to file my taxes for years 2001 through 2005. Is there a place online to do this for free?

2007-02-27 08:03:59 · 1 answers · asked by UBigDummie 1

I moved from Indiana to Illinois in the middle of 2006, but worked in Illinois all of 2006. I know I have to file both state taxes, but my illinois refund is really high, and I owe Indiana a lot more, why? Is there something wrong with my w-2, did my employer mix up the numbers? Or is this normal?

2007-02-27 08:01:55 · 3 answers · asked by Roz 4

I sent my taxes in the mail about a month ago. Any idea how long it takes until i receive my check

2007-02-27 08:00:26 · 2 answers · asked by dlnmllr 3

I'm 30yr old student in college w/o a job. Can my retired mom claim me as a dependent on her taxes? Can she take the standard deduction of $3.3k for me?

2007-02-27 07:46:30 · 5 answers · asked by yah27 2

Say, for example, I get a loan from a private investor in the amount of $50,000, and deposit that into a bank checking account under a multi-owner LLC (I am part owner). To pay myself a salary/wage, should the LLC just write me a check from the account on a bi-monthly basis? How would I be classified for tax purposes? (Employee?/ Self-Employed?, Etc.) I know this is a complex question; any contribution is much appreciated?

2007-02-27 07:20:26 · 2 answers · asked by Anonymous

I was a resident in maryland, recieved a promotion and got my first house in PA, I still work in Maryland with the same employment, when I started to do my state taxes with Turbo tax it stated that I owed quite a lot of money to Maryland. I reasoned that Turbo Tax assumed my income on my W2 was Maryland taxable. Am I correct in assuming I should use my last pay stub before I moved as my yearly income for filing with Maryland, and subtract that amount from my W2 income and use that solution for PA?

2007-02-27 07:15:25 · 1 answers · asked by S A 1

Because of high IRS payments of current and past taxes, I cannot pay a subcontractor for work done.

2007-02-27 07:08:56 · 7 answers · asked by Deborah G 1

I paid PA state tax when I was working in PA. Do I need to file both NY and PA state tax returns?

2007-02-27 07:07:11 · 4 answers · asked by jang40515 2

I teach yoga from time to time. I received Forms 1099-MISC and last year earned a total of $4400 in 3 different states. Because it is non-employee compensation do I have to file as a business? I do not have any inventory or expenses for this service and do not do it all of the time. Can I just claim it as Other Income and avoid all that business stuff?

2007-02-27 07:00:13 · 4 answers · asked by Ann54 1

2007-02-27 06:58:15 · 2 answers · asked by Dale D 1

I worked at a company for 3 months and I've moved since I last worked there. I called them and gave them my updated address and I still haven't received my W2. I don't have the last pay stub. Should I go ahead and file without it?

2007-02-27 06:46:32 · 4 answers · asked by Amber20 2

I am in the highest tax bracket and 57 years old

2007-02-27 06:37:38 · 2 answers · asked by Shawn_k 1

Hi,
I am a resident of California since Dec 2005. I have recieved some back salary payment from my old company in Missouri in 2006. i.e They paid off my dues in 2006. I have two W2s with payments from CA (present employer at California) and the other from Mo (old employer at Missouri). Since California taxes income from all states, will I have to pay income tax twice on the amount earned in missouri. How can I claim a refund for the taxes paid to missouri since I have to pay a tax to California on the amount earned in missouri.
There doesnt seem to be any provision on the Missouri non resident tax form to claim this.
Thank you.

2007-02-27 06:35:15 · 1 answers · asked by Anonymous

Strange... I did my taxes online, Turbo Tax... did NOT apply for RAL at any time, meanwhile received my refund but it was for exactly $2400 less than anticipated and not deposited by the IRS but by RAL.... ?

Any idea's?

2007-02-27 06:27:40 · 2 answers · asked by Tinker925 2

Not sure to file married or single??? I worked part time last year and my husband gets paid cash, therefore he gets a 1099. Weve only been married a year. This is our first time filing. Just not sure what is best to do. We want to do Turbo Tax...any info on that also would help.

2007-02-27 06:17:13 · 4 answers · asked by bmariev24 1

2007-02-27 06:17:11 · 6 answers · asked by Anonymous

2007-02-27 06:14:55 · 3 answers · asked by basilgreek 2

i have two dependant'and the unemployment sent me my w2 form

2007-02-27 06:09:06 · 3 answers · asked by Anonymous

I am married filing seperately, but last year i had to file a regular 1040 form because i had 401k contributions. Can i file a 1040 ez this year or what form do i have to file. Agian i am filing married but filing seperately!! i only have one w2 form this year and i dont have children. i just dont want to pay alot of money filing when i am not going to get much back and i want to know how and what i should do!!

2007-02-27 06:07:18 · 6 answers · asked by wifey05jc 2

what is the lowest imcome amount has to be claimed as income?

2007-02-27 06:05:38 · 5 answers · asked by reddiasy 1

I think I am going to get hired by an employer that doesn't make deductions to my paycheck.... I have no idea how much to save for taxes, etc.

2007-02-27 05:59:23 · 5 answers · asked by anangela 1

I am trying to E-file using TaxSlayer.com, I would not recommend this site btw. Not very user friendly compared to other e-file sites I have used in the past.

It's not allowing me to enter more than one property for rent paid.

I rented from one place from Jan 1, 2006- like August. 7 month's at any rate.
I rented from the second place July 1, 2006-Dec. 31, 2006. 6 month's.

They overlap because I didn't give my first place a full 60 days notice to vacate so they charged me the next month's rent :(.

I never got a Certificate of Rent Paid from my first place which I had assumed to be an oversight.

I should be able to file renter's credit from both places though right?

2007-02-27 05:48:38 · 1 answers · asked by Justaguyinaplace 4

It was VERY small, but about the same as my normal tax return. Does that mean I will either break even or owe this year if everything else is the same?

I plan on getting my taxes done this week, but just wondering what I should expect.

2007-02-27 05:29:30 · 6 answers · asked by Tonya in TX - Duck 6

Educational Tax Credits not worth claiming?
I go to a community college where the tuiton is fairly cheap ( as most are, since it's not a university). For the past two semesters, my tuition has totaled to about 400 dollars or less. Is it really worth it to have my parents claim the education credit on their taxes to save money? Will they really save any money off of it? Their combined income is over 100 grand . Also if someone can verify this that would be helpful. I also read or heard somewhere that if you don't pay that much, you really don't qualify for it and it's not worth it to claim.


PS- I know i posted this before but I felt it necessary to repost. To those who gave their answers before, thank you very much!

2007-02-27 05:14:42 · 2 answers · asked by Anonymous

How do I write off trips I took?

2007-02-27 05:01:32 · 2 answers · asked by toobrown 1

where does he/she put amount paid to employees and reported to IRS on Forms 1099-Misc. ?

Should it be reported as "wages"?? Just curious...
Thanks!

2007-02-27 05:01:29 · 1 answers · asked by Weetie 3

I received 14 shares of stock as a dividend, when I already owned shares from the same company. If I sell 14 shares years later, is the cost basis $0 because I didn't pay for them and they were given to me?

2007-02-27 04:49:16 · 5 answers · asked by Dan 3

2007-02-27 04:45:38 · 1 answers · asked by shell 1