United States - July 2007

My sister & brother-in-law owes around $36,000 to the IRS from their own business in which they've been making small payments. The IRS is getting impatient & wanting the entire balance. They sent them a series of certified letters saying they will put a lien on their property unless they pay the entire amount in 30 days. Is this possible? & if it is, is there anything they can do to keep this from happening (aside from coming up with the whole $36,000)?

2007-07-20 18:49:41 · 9 answers · asked by melljw777 2

I know it is for the government but I don't remember signing any piece of paper saying I owe them money.

2007-07-20 18:16:43 · 7 answers · asked by thetimbosley 3

here is my situation. my parents own a house and the mortgage is under their names. they have VERY low income so every year at tax time i itemize the mortgage interest and get a huge tax refund as a result even tho the mortgage is in their names. Now my dilemma is this...i plan to buy my own house with the mortgage in my own name. can i itemize the mortgage interest from both properties and get an even HUGER refund?

2007-07-20 17:04:02 · 5 answers · asked by VanillaIce 3

I am 31, claim head of household,claiming 1.

2007-07-20 17:00:49 · 3 answers · asked by rachel 1

I got an 11 cent eegtl tax in one paycheck a month ago... ?
eegtl = employee group term life (insurance)

2007-07-20 16:54:43 · 1 answers · asked by Nick 5

I have a friend who had to pay almost 30,000 (thirty thousand), in taxes.. what kind of yearly income makes u pay that much? I was too shy to ask, and people can feel funny to answer.. So I am here, asking..

2007-07-20 16:00:18 · 2 answers · asked by DivinePath 7

If I went to check-cashing places to cash my checks instead of a bank will that make it impossible to find out how much money in checks I was cashing? We’ll assume I am not going to put any cash into the bank and we can assume the government will not know who wrote me the checks, so they can’t find the canceled checks. Thanks!

2007-07-20 15:43:32 · 4 answers · asked by christopher239938 1

2007-07-20 15:33:35 · 3 answers · asked by jclintcol 1

I am interested in buying a tax lien on a mobile home in 2009 or 2010 for personal use; with a PURCHASE budget of $500-4,000. (not including lot rent)

I'm looking for a single-wide, and I only need one bedroom and one bathroom, though I'm sure I'll get more than that.

I'm interested in metro's with at least 150,000 people in any of the following states: minnesota, wisconsin, tennessee, alabama, arkansas, oklahoma, texas, kansas, nebraska, missouri, iowa, new mexico, arizona, nevada, oregon,washington, and california.

So, to ensure that I get my title right on the spot (if I understand this all correctly), which of these states do NOT have the right of redemption law applying to government sold tax liens?

2007-07-20 15:24:36 · 2 answers · asked by ... 4

2007-07-20 14:45:35 · 8 answers · asked by 624787 1

HELP out there!! Okay, my question is: if a homeowner in CA goes into foreclosure with a mortgage balance of 500k, bought the place say 2 years back for 600k, and the place goes to auction and gets only 400k, does the homeowner get taxed for the shortage, as he would if a lender was to forgive him a debt of that same amount? I find myself running into more and more foreclosures, and This is a scenario that is bound to happen to any number of my clients/prospects any day now. Thanks in advance for you input.

2007-07-20 14:31:01 · 1 answers · asked by J k 3

i heard i will owe money at the end of year. This dosnt make sence iam student. If this is true can i change it so it takes money out so i wont owe as much at the end of the year.
I have made 4 thousand this year : )

2007-07-20 14:11:39 · 3 answers · asked by Cat 1

On a check stub, what does Fed OASDI/EE on a check stub mean? I know it's some type of tax but what?

2007-07-20 12:44:31 · 3 answers · asked by sweetpeasmum 4

2007-07-20 12:23:21 · 7 answers · asked by Captain H 1

Every time anyone questions the Federal Income Tax law there is an instant slew of responses and attacks.

The answers just seems to immediate and filled with that typical tax jargin like "Article 26" and the "16th Amendment was ratified" but they never just show us the law.

Then you get that "Just quit paying and see what happens" crap

They can't show the law, but they sure like to throw around prison comments and stuff like "you just wait and see"

It really is quite disturbing

It is just to fishy if you ask me.

2007-07-20 11:28:08 · 5 answers · asked by Anonymous

I live in pennsylvania and won 200,00 dollars how much will my husband and i get after taxes..I read that in pennsylvania that state and local taxes are not taken out.

2007-07-20 10:41:38 · 5 answers · asked by Anonymous

My granny never got an updated will,hers was from 1971, so all her possessions had to be sold,house with land and a separate 66 acres of land else where,and split between her 6 kids.My dad,one of the six siblings,died years before my granny so I had to Split his share with my sister.The land has been sold and the house is about to be,so I will get around 5-6 grand when its all said and done.Now that you know my situation,how much is the government going to want me to pay them out of all this money come tax season,cause I know they always have their hands in the cookie jar.Sorry for the long story and if its a stupid question,just trying to be clear in it,and get some things figured out.Thanks in advance for anyone who can give me some info.

2007-07-20 09:58:58 · 5 answers · asked by Rory W 3

They're saying (The IRS), that based on the average salary that professionals of that type (Real estate professionals) make per year that the assessment they are interested in receiving is around $3,000, but no transactions were done whatsoever, the real estate license was obtained but no business was done.

2007-07-20 09:46:56 · 2 answers · asked by :::♥:::Castle:::♥::: 1

me and my wife recently moved to mexico from the u.s. we recieved my income tax forwarded to us at our mexico address and were wondering if anybody knew of a way to cash the check in mexico do banks do it or is there any other way.

2007-07-20 08:14:00 · 3 answers · asked by Intrigue 1

Ok, My fiance owes alot of money in student loans and in the state of Tennessee(it may be all over the US)they are taking his income tax returns until it is paid for. So my question is if we were to get married how could I keep mine? We will also be having our first child in February will that affect it too? Thanks Alot for any help or advice!!

2007-07-20 07:53:37 · 7 answers · asked by ericksmommy 4

Assume a 6% deposit by the worker and 6% by the employer.
Assume a 5% return annually
Assume paying for 40 years.
What effect has the governments use of social security had on your return?

2007-07-20 07:27:45 · 4 answers · asked by Anonymous

hoosing Your Tax Debt Attorney

If you are either a tax defaulter or tax creditor, it's important that you realize who a tax debt attorney,before you get into any process to save your own neck. Not every tax default situation should land you in court and a tax debt attorney would be able to help you, if you just discovered that you have a tax debt situation and you want it to be solved.Facing IRS without a tax debt attorney,the chances of you getting a very good deal are next to none. Without an attorney who could handle the situation well and are able to bring the situation to your side, and what the system that you're entitled to, you would be in the same situation as like a fish out of water.

for various reasons, people incur tax debts and not all of these reasons are centered on them just trying to slip away from paying their dues. Sometimes these taxes may be incurred due to longstanding and financially tasking issues such as when you get sacked from your current job or you have a long divorce case where your partner is suing you for half of everything you own. At other times these taxes tend to accumulate if you don't pay them regularly enough, if you don't file tax returns or if the IRS makes a mistake. More often, the accumulated taxes are the least of your problems and you may face huge penalties when you forget to pay your taxes. These penalties are usually much worse than the actual accumulated taxes you have to pay.

The job of the tax debt attorney is to help you get some of your taxes amount waived. It's extremely difficult to get your tax debts completely waived but you can negotiate a good deal. The good is that the IRS may be strict about their money but they aren't just mindless human.They know that people have problems and may often find it hard to come up with what they legally owe when they owe it. The reason huge penalties follow the late payment of taxes is to determine people who would naturally find it okay to dodge the tax and pay at a later date if they do intend to pay at all. With hefty penalties people would naturally be compelled to pay early rather than to run and get in trouble with the IRS.

A good tax debt attorney will negotiate with the IRS on your behalf so they can grant you some form of relief from your tax problems. The IRS may then decide to waive some or all of your penalties and your tax debt attorney can work with them to negotiate an easy tax payment schedule that will help keep them off your back.

There are a lot of circumstances that could be in your favor when facing the IRS and what the tax attorney will do is to determine what these circumstances are and present them to the IRS. A good tax debt attorney will sort out your problems in a manner that will be more convenient for you rather than you sitting in a jail cell or having your entire property confiscated.

2007-07-20 07:19:50 · 1 answers · asked by Sara Y 1

I work for an employer and he is giving me 1099.
I have to pay all the taxes.
Can I open a SEP account (Retirement Account like 401)

2007-07-20 07:13:46 · 2 answers · asked by Anonymous

2007-07-20 07:10:35 · 8 answers · asked by That Guy 3

I filed them months ago and should have received them by now but haven't....do I contact the IRS or Turbo Tax?

2007-07-20 06:07:05 · 6 answers · asked by Randolph 3

I got paid $200 as an independent contractor. Do I have to report this to the IRS next tax season, or is there a maximum amount that one can make without having to report it?(e.g., $400, $1000, etc).

Also...although I got directly paid $200, essentially I made -$90. >:( The expenses incurred from completing the project costed me every penny of the $200 that I got paid. In addition, the consequences that resulted from this project resulted in losing hours at work the next day, which costed me $90 from my paycheck. I know I cannot write off the time off from work on my taxes, but the $200 expenses were a direct consequence of going to work on the project.

2007-07-20 05:48:35 · 3 answers · asked by lightning_strikes 1

2007-07-20 05:43:02 · 6 answers · asked by pisces02 4

Okay this was a really frustrating experience for me. A few weeks ago, my friend talked me into doing a paid project. We were getting paid $200 for completing this one-day event project. We got paid with a check and were told that we would receive a 1099 form at the end of the year, claiming on it that we'd received $200, so that we would have to pay taxes on this amount.

Well the project ran past the time it was supposed to end, and as a result my car got towed. It costed $200 to get it out of the lot(not even speaking of the inconveniences stemming from that horrible experience). Plus, I had to leave work early to get my car, so I lost $90 in pay from doing that.

From my understanding, I worked as an independent contractor on that $200 project(hence the 1099), therefore I should be able to write off business-related expenses. In the end, the expenses(the car tow) costed MORE $ than the $200 I made. I do NOT want to pay taxes on money that I eseentially lost. Any tax advice?

2007-07-20 05:33:09 · 4 answers · asked by lightning_strikes 1

I have learned in Arkansas when you have an autistic child you receive a $500 tax credit. and you can go back 3 years on your taxes and receive credit for those years also. Does anyone know how to go back and do that.

2007-07-20 05:31:10 · 2 answers · asked by oldnavy_76 2

I will leave the country shortly and I would like to know if getting a refund is fast and easy...

2007-07-20 05:20:09 · 4 answers · asked by cookingabroad 1