United States - December 2007

If you take an early withdraw from your 401k before fifty-nine and a half, is that considered income when calculating earned income credit?

2007-12-29 06:02:20 · 6 answers · asked by angrycelt 3

about 31000. Im tryin to get an idea of how much i should be gettin back.

2007-12-29 05:57:40 · 3 answers · asked by Anonymous

i recently got a phone call on my cell phone from somebody that has a number of 2153. they claim they're from the government through bank of america and wish to send me a check of 1500 that's "mine." i tried to cut her off as another solicitation call and she insisted that she was not calling to sell anything. the 1500 was mine from taxes and all i needed to do was provide some information. this was sketchy so i ended it there with a give me a call back later. has anybody ever heard of this ploy?

2007-12-29 05:49:07 · 8 answers · asked by icomeanons 2

I'd like to know if there is a tax for taking online surveys.And if so, how much?

2007-12-29 05:27:31 · 3 answers · asked by Anonymous

2007-12-29 05:21:58 · 2 answers · asked by Anonymous

If so, on the annuity death benefit claim form, should I select do not withold taxes if i elect to take one lump sum? If it is taxable, do you think I will have to pay a lot back at the end of the year?

2007-12-29 05:03:29 · 5 answers · asked by ny985 1

my refund back this year?and what are qulifactions to file rapid refund? why would a bank deny a ral loan??

2007-12-29 04:59:11 · 3 answers · asked by Anonymous

how far back would or could go the irs go back,also if it,s impossible for the person to pay the full amount due to intrest and late penalties,if it causes the person a hardship and in all reality unable to pay.

2007-12-29 04:38:27 · 2 answers · asked by indm45 3

I'm a single mother of a 9 month old daughter. I was wonder if anyone knew about this supposed tax break I'm supposed to get when i file my taxes. I'm in texas, not sure if that matters, but I don't know whow I'm supposed to put in for this! Thanks!

2007-12-29 04:30:04 · 4 answers · asked by pretty_pixie_corpse 1

I will will owe the IRS a large sum of money this year due to an unusually large amount I will have earned. I want to give away as muchas I can up to the point it no longer benefits me tax wise. Anyone who can provide advice around these tax laws is truly appreciated.

2007-12-29 04:24:25 · 5 answers · asked by Romeo 2

Because The People used their Voices!!!.

December 27, 2007

President Signs AMT Patch

On December 26, President Bush signed the Tax Increase Prevention Act of 2007 [HR 3996]. The legislation was passed to prevent an estimated 25 million taxpayers from becoming subject to AMT. The Act increases the AMT exemption amount for 2007 to $66,250 for married individuals filing jointly and surviving spouses, $44,350 for single taxpayers and taxpayers filing as heads of households, and $33,125 for married couples filing separately. The new law allows taxpayers to use most nonrefundable personal tax credits to offset AMT liability.

Now that the AMT patch has been signed into law, the big question is how the late timing of this change will impact the upcoming filing season. - The IRS just announced that for most taxpayers, the late passage will not impact their ability to file early in the season, beginning in mid-January. However, approximately 3 to 4 million taxpayers will be impacted and will not be able to file until February 11. The delay is the result of the system programming changes that need to be made at IRS to process returns that have any of the following forms to submit with their return:

1. Form 8863, Education Credits.
2. Form 5695, Residential Energy Credits.
3. Form 1040A's Schedule 2, Child and Dependent Care Expenses for Form 1040A filers.
4. Form 8396, Mortgage Interest Credit.
5. Form 8859, District of Columbia First-Time Homebuyer Credit.

2007-12-29 04:20:04 · 3 answers · asked by Wood Smoke ~ Free2Bme! 6

Do you have your taxes done by professionals? How much does it cost? What is the best place you've found to do it for you?

2007-12-29 03:43:58 · 5 answers · asked by asncasckln k 1

I'm only 26 so I've only used paper returns since my returns were so easy the first 8 years of filing. However, since getting married and buying a house, I've had to use software to help with my return and have never had anyone else do my taxes. Has anyone switched from one to the other and noticed a significant change in how well the taxes were done? I'm curious if an accountant would find more deductions (or less) than my software. Thanks.

2007-12-29 03:41:58 · 5 answers · asked by asncasckln k 1

We underpaid last year by about $500 to the IRS. This year we upped the withholding but will still probably fall about $150 short and have to pay that in. I thought we upped it enough but we unexpectedly made 20% more than last year. Will the IRS charge us for underpaying two years in a row?

2007-12-29 03:34:29 · 6 answers · asked by asncasckln k 1

I have a few deductions....about 615.00 I made about 10000 and started a new business but haven't really made anything yet....how does all this work...were can i find out ....and about how much do you have to pay in...I have to do a 1099....

2007-12-29 03:05:12 · 6 answers · asked by Anonymous

2007-12-29 02:55:39 · 5 answers · asked by Gypsy Gal 6

I have trade some stocks in my traditional ira account in 2007 and have some short term gain. I am also holding a stock for a few years and still a loss in my ira account- I am planning to sell it. Do I have to sell it same year to net out my gain in my portfolio ? what is the tax rate for capital gain in ira account ?

2007-12-29 02:27:33 · 4 answers · asked by fhjccy 1

Keep in mind, your health insurance premiums can't be deducted if they're taken out of your paycheck as pre-tax dollars. However, after-tax health insurance premiums are deductible, but they still are subject to a limitation of 7.5% of your AGI. If you're self-employed, you may deduct a portion of your health insurance premiums as an adjustment. The self-employed deductible portion is 100% in 2007.

2007-12-29 01:45:57 · 5 answers · asked by montcoguy0o 1

2007-12-29 00:24:39 · 4 answers · asked by julie b 2

I'M FILING HEAD OF HOUSEHOLD

2007-12-28 23:45:07 · 7 answers · asked by twon3233 1

2007-12-28 23:38:54 · 5 answers · asked by Anonymous

2007-12-28 23:36:41 · 3 answers · asked by Anonymous

Can I file my federal taxes without my W2 forms, by using my last check stub.

2007-12-28 20:04:58 · 5 answers · asked by doobnew 1

If you see a tag for an item here that says $2, you pay that and the tax, why can't tax be included or whatever the system is

2007-12-28 19:27:56 · 4 answers · asked by Anonymous

I work for Safeway and I forgot the website you need to visit in order to register for an electronic version of your 2007 W2.

2007-12-28 19:00:28 · 2 answers · asked by bobbyampm 2

2007-12-28 18:44:00 · 6 answers · asked by BooBooGirl 1

i hear this big talki about the delay of income taxes, well, is it definite. some have already gotten christmas loans towards their taxes. most places let you use your last check stub, is this not avaliable this year as well? this is crap. please try to help me find answers because i need my money fast, quick and in a hurry!

2007-12-28 17:41:48 · 7 answers · asked by Sherri J 1

2007-12-28 17:17:25 · 3 answers · asked by somanyquestions 6

I read that you "can deduct as much as $4,000 in qualified tuition" and that "partial deductions are available to individuals with income up to $80,000 and couples with income up to $160,000"

I fall in this category, but don't know how to file partial deductions. I normally use Turbo Tax but I have never seen an option for partial deductions.

If you know how to file this I would really appreciate a hand.

2007-12-28 16:50:44 · 4 answers · asked by D. Nelson Altamirano 2

My wife & I bouth work me full time her part time.would it be better for us to file taxs, seperately or jointly ?

2007-12-28 16:39:21 · 5 answers · asked by denver j 1