How to file my taxes? I'm clueless here?

Question

Hi,

I make only around 50,000 a year. Married and have a son. I'm 19 years old and havn't done taxes before. What forms do I need? What do I do? I have my w-2 already.

Also, I just moved, and my employer hasn't updated my address, so my w-2 has my old address. What should I do?

Answer 1

don't worry about the address on the w-2 if you have it in hand. If you are smart enough to type a question in here you are smart enough to use tax software $20-40 bucks will get you turbotax or taxact... you don't even have to buy the box... you can use them off their respective websites. They walk you through everything, even state specific stuff if you need it. Don't bother with any of the extra bells and whistles.

Answer 2

baby help isn't taxable to the recipient or deductible with the aid of the payer, and is not mentioned with the aid of the two on a tax return. Alimony is distinctive - the guy receiving it has to pay taxes, and the guy paying it could deduct it. there is not even a place on the type to place baby help, so there does not be any thank you to report it. If that's her in simple terms income, she'd be sending in a sort with all blanks or zeroes. and you don't get a reimbursement until you had taxes withheld or are eligible for a credit like EIC - I have no theory what the guy who's telling her she gets a super refund is questioning. The earned income credit can actual return money to somebody that they did not have withheld, yet that's in simple terms for people who've income from a job. you may bypass forward and say "I informed you so", yet why worry? She'll discover out ultimately. there's a super form of incorrect information obtainable approximately taxes, and a super form of it gets into solutions right here on Yahoo solutions, regrettably.

Answer 3

You can do a couple of things:
1. Go to H & R block or another tax preparer, you will need your W-2, soc. sec. cards for you and your child, driver's license and proof of correct address (a correction on your D.L. will work)--the preparer will be able to "correct" your incorrect address when preparing your taxes, take any other tax forms you get..example...mortgage (1099), gambling winnings (1099G), bank interest (1099-INT) (banks will send this if you have more than $10 in interest for the year)--any 401k statements, pensions, social security payments, etc...The list goes on, call and ask them what else you may need.

2. go get the forms from your local post office and fill them out yourself--Don't forget the Instruction book

3. Buy Turbo Tax at the store and do them yourself---These programs will walk you through filing step by step, asking all the questions a preparer will ask.

4. go to www.irs.gov and download the forms and print them and fill em out (they have step by step process of what forms you will need also.

Hope this all helps. BUT whatever you do Make sure you file by 4/15/07, or you will be penalized and if you end up owing you can file for an extension that will give you until 08/15/07 to pay it. Make sure you file though.

Answer 4

You need all your 1099's from banks, investment firms, mortgage lenders, etc. also if you have those coming. Also if you wife works, you need hers also if you are filing a joint return. You can go online to the irs website and file for free with some tax companies based on your income. If you don't qualify for that, you can either go to the irs website and download the proper forms or go to your local library or postoffice and get them. If you don't have a lot of things to report, you will get the 1040A. If you have a lot 1040. As far as state, depending on where you are, you should be able to do the same. Find the website online and go from there. It's quite easy. I've been doing my parents taxes since I was in junior high and my own since I was 16. Over 20 years FYI.

Answer 5

There's two ways to do the taxes.
1] You can take your W-2 forms, interest statements and tax bills to someone to do for you. If you don't have deductions to any extent, you can do a 'short form' 1040A. it's fairly simple and you will probably pay about $50.00 or so for Federal and State forms.
2] You can go to www.turbotax.com and buy or download Turbo tax.
This program walks you through each tax line using specific questions. When you are done, it checks the returns for simple or missed errors.. You can even file electronically. I think it's about $15.00 to do so.
There is also a state form to do (depending on where you live).

I've used it in the past and it is very accurate.
Good luck.

Answer 6

Turbo Tax is a a computer tax form it walks you step to step
and H&R block can also help you-you'll have to pay but it's better to do what you are doing the first time so next time you can do it yourself

Answer 7

if there isn't too much that you need to write off you can just pick up a 1040-EZ form from your local IRS office or print one off the IRS website. the 1040-EZ is the easiest form to fill out (hence the EZ) it is pretty much self-explanatory, and you will be able to list your child as a dependent.

otherwise, you can use just the regular 1040 form also, it is just more complicated to fill out.

you can also visit a tax preparer or buy software for your computer that will help you fill out the forms you need.

http://www.irs.gov
http://www.turbotax.com
http://www.jacksonhewitt.com
http://www.hrblock.com

Answer 8

Go to the Turbo Tax web site. No need to buy software. For a small fee (and I think there's even a free service available), it'll walk you through your taxes and allow you to e-file automatically.

Answer 9

Buy the programs you see at walmart (TurboTax / TaxCut / Etc). They give you a questionaire and in the end you can efile or print the forms to mail. It's really very easy!

Answer 10

Two things
-Last pay stub of the year
-H&R Block

Or I would recommend some professional assistance at least. They know the loopholes and can save you some money.