United States - August 2007

I have been asked if I want them to take the minimum amount of withholdings or the maximum - but I don't know where to find out this info!

How much will I be getting?

Many many Thanks!

2007-08-20 08:41:51 · 1 answers · asked by James W 2

How can I minimize the penalties and interest? We now estimate that more tax will be due than what was paid with the 4/15/07 extension, but we won't have all the info needed to file the return til 10/15/07 (due to some late K-1s).

2007-08-20 08:26:48 · 3 answers · asked by BruceN 7

i recieved a notice for cancellation of debt as income. i volantarily gave back a car in 1996. the loan was never completely paid off. toyota reported it in 2005. the car was never used for any type of bussiness purpose nor was any part of the car used as a deduction. am i responsible to pay this? its been 11 years so i no longer have any paperwork about the reposession.

2007-08-20 08:15:07 · 9 answers · asked by spaghetti 5

For a single person with no dependents

2007-08-20 07:50:31 · 2 answers · asked by Anonymous

Is there anyway i can do my Income Tax Return from home using my own laptop? if so, what will i need ? please be specific when answering.

2007-08-20 07:24:11 · 4 answers · asked by AnGeLo 1

My daughter has a very good friend who is 16 years old her mother has been living where ever she could live and some of the places were awfull.The dept of children services were going to put her and put her in a foster home if she did not find a place to stay. since we knew this girl for yrs we took her in she is a very sweet girl.The thing she has been living with us since the 1st of march and her mom has gave us 40.00.The question is since were taking care of her can we claim her as a dependent?

2007-08-20 07:03:33 · 6 answers · asked by lynda p 3

I recently donated about 14 bags of cloths to the Salvation Army. All of the cloths were in great condition amd some of them were even brand new. I used the valuation guide the Salvation Army had for donated items and it looks like I donated about $2,300.00 worth of clothing. I normally file a 1040EZ as I do not own a home or have intrest on any accounts to claim. Would I benefit by itemizing these contributions? More specifically would I get more money back itemizing rather than taking the standard deduction on the 1040EZ?

2007-08-20 06:54:36 · 5 answers · asked by woodybmi 3

I am starting to invest my money in stocks. How can I get a tax ID since I never had any income before?

2007-08-20 06:05:57 · 5 answers · asked by Ali 1

IM MOVING IN ABOUT A MONTH AND I INFORMED MY EMPLOYER. WELL MY EMPLOYER TOLD ME TO LET'EM EXACTLY WHEN THIS CHANGE HAPPENS FOR THEY WILL HAVE TO MAKE CHANGES IN MY CHECKS FOR ME TO PAY THE NEW STATE TAX. AND I WOULD HAVE TO DO BOTH STATES WHEN I DO MY YEARLY TAXES THIS SEASON COMING. IS THIS TRUE? IS THAT HOW IT WORKS OR ARE THEY LEAVING SOMETHING OUT THAT WOULD HELP ME UNDERSTAND ENTIRELY WHAT THEY MEAN?

2007-08-20 06:04:37 · 5 answers · asked by hotkitty 1

Cont'd ... I got my 1st unemployment check 8/10/07 and the unemployment office sent me a letter saying that that if I started this job I needed to claim it, but should I claim it for this week, I am worried that they will ask me when did I start, because my job stated my start date was 8/2/07, should I just say that I started 8/13/07, plz someone help, and if I claim this week will I still be able to collect money if I go to school and work f/t . I hope this makes sense !!! Thanks

2007-08-20 05:56:42 · 4 answers · asked by Queen_A 1

hi, Im thinking about buying a condo in Connecticut
but I work in NYC- does anyone know what the tax
penalty would be? I know I have to pay double tax
but Im wondering how much....

2007-08-20 05:48:14 · 3 answers · asked by Laura G 3

I have not filed taxes for 2004, 2005, and 2006. Recieved letter from IRS for change of address. I was scared not to file and the outcome was not filing for 3 years. Did estimated tax return for all 3 years and will owe approximately 12K total. Now the problem is, should I contact the IRS and work something out? Will IRS take total tax owed and do a combined payment plan? Should I contact one of those commericals to help? I would not be accepted for a offer in compromise, but want to get everything settle with IRS immediately so I can sleep at night. Please advise of what I should do first. What average fees would I expect to pay if I hired a tax attorney. I just really want to make things right but need direction on what I should do first.

2007-08-20 05:16:24 · 5 answers · asked by Anonymous

I failed to pay the 10% penalty on the withdrawl and the financial institution did not report it. I am told that if they audit me I will be penalized.

2007-08-20 05:08:53 · 5 answers · asked by charlotte q 2

In specific; Provision for income taxes - State & Fedral is prepaid once every 3 months, Should I accrue the portion for each month? Is that possible and accepted by GAAP?! Please include any references!

2007-08-20 05:01:40 · 2 answers · asked by Accountant 2

2007-08-20 04:54:34 · 4 answers · asked by Anonymous

2007-08-20 04:47:31 · 2 answers · asked by narivers2001 1

I purchased a rental property recently and have been doing extensive work to keep rent and maintain it. I have numerous credit card statements and milage records for work done. Do I need to somehow formally declare that I am running a business for the IRS? I will go over the standard deduction this year and wasn't sure if I needed to start a business or something. I am new to tax law and business, so the more detail the better. Thanks!!

2007-08-20 03:55:41 · 5 answers · asked by drf2684 1

Is it possible to amend my tx return fro2005- to change
filing status from joint filer to filing seperately.
This is just to see if a spouse can get rid of any
taxes due to other spouse

2007-08-20 03:39:14 · 3 answers · asked by kayyes 1

He is now duducting about 12% and I have to dependents but my wife also works here and she is not putting any dependents and they deduct 12% off her check also. So what would be the point of me having 2 dependents. I have a feeling that they are doing something shady. Can you guys please help?

2007-08-20 02:47:59 · 5 answers · asked by Anonymous

2007-08-19 18:53:06 · 9 answers · asked by Anonymous

Hi i am having my pay garnished by a marshall and i want to pay the whole thing off in one shot so they can get their hands out of my pocket but when i call the marshall and ask how much they've been paid they state they recieved less than what my job reported they paid out so far. I dont want to pay these guys 1 penny more than i have to. Should i just hold on to my money and let the garnishment take its course? or should i just send the check with the diffrence according to what my job shows has been paid. I know the longer this garnishment lasts the more intrest accrues. Any help or info on a course of action will be greatly appreciated.

2007-08-19 18:25:41 · 5 answers · asked by mrdrproffesorcrayon 1

We recently went through a dramatic job loss and lost 2/3 of our income. We are barely able to keep food on the table after we pay out our bills each month. We have consolidated as much as we can. We both currently claim 0 on our w-4 tax forms, so is it worth changing these forms to claim 1 (since we do have a dependent anyway) to free up a little more money each month? I realize we will get less back on our tax return at the end of the year. I just want to make sure we wont OWE any moneyeither. We do own a house also. We live in Colorado (if that makes a difference)....Thanks for any info or advice :)

2007-08-19 16:59:10 · 5 answers · asked by tristalelyn 1

Last year my family received a large tax return- My husband is in the Army and doesn't make much money and he claimed myself an our 2 kids. This year I'm not sure what will happen bc he is deployed to Iraq and they didn't take taxes out of his check... How will I know if I get a return or not-I think we have gotten around 1300.00 this year with 2 kids and I dont work
Thanks

2007-08-19 16:39:57 · 3 answers · asked by ME :) 2

I've called them and they said if u don't hear from us in 45 days call again can they make u wait this long

2007-08-19 15:40:58 · 3 answers · asked by prettyrose 2

if a potential employer does a background check will a federal tax lien effect it?

2007-08-19 13:07:20 · 4 answers · asked by Anonymous

looking for this information on a friend's behalf. how do i show that this was paid with the income tax refund. no paperwork available.

2007-08-19 12:42:49 · 2 answers · asked by iheartmerrymanor 2

Im wanting to go back to college, but you have to fill out your parent's tax stuff on the FAFSA. Thus making me ineligible for grants, even though they live in another state and have for over a year.

I have been living with my boyfriend for almost 2 years now. This year, I worked part time Jan & Feb. I didnt work March-Mid August. He has been working full time. I will start working about 20-30 hours a week now.

Can he claim me as a dependant? If so, should I put "0" under my W2 and he puts "2"?

2007-08-19 11:35:46 · 9 answers · asked by I Love My Kitties 5

What happens if you owe money to the IRS (backed taxes, for example) and declare bankruptcy? Will they still come after you and hunt you down? Will they hold on to that money like a starved Chihuahua on a pork chop?

2007-08-19 11:34:59 · 7 answers · asked by zaxxon 3

What if, in the hypothetical case, I cashed my 401K, paid nothing to the IRS and ran away to a foreign country to never come back to the US?

2007-08-19 11:33:14 · 3 answers · asked by zaxxon 3

for example, i buy a condo for $130,000, and sell it for $180,000;do i pay the 15% on the $180k, or on $50k?

2007-08-19 09:44:50 · 5 answers · asked by svelte_steve 1