Posts Tagged ‘Year’
Date : March 9th, 2010Category : UncategorizedAuthor : Editor
Product Description
Deduct It! Deduct It! is updated each year to document your non-cash charitable donations for use on your individual tax return (Form 1040 Schedule A). Fair Market Values are researched within the last quarter of the prior year across the country in used clothing stores, thrift shops, online, and other methods. Our program meets all IRS regulations and is designed for you to document your donations as you’re boxing them up. In this 2010 edition, you will find a new easy-t-use clothing section broken down by type instead of gender. All you may need is a caculator at year-end to add up your tax savings!… More >>
Deduct It! Deduct It! for 2010 Tax Year
Tags : 2010, Deduct, Year
Date : March 9th, 2010Category : Tax Attorney Long IslandAuthor : Editor
I thought I’d try doing our taxes this year asked DH for his W-2 and he handed me a stack from 2000 – 2006 and told me the last time he filed was 1999! Looking the W-2’s over noticed one year had $0 Fed tax withholding and the rest were only a little over $1000.00 in Fed withholdings. He makes between $30 – $46 a year. He then tells me he prefiled with his employer to go tax exempt for one year and the rest of the years as having 8 dependents when there’s only DH, my son and I.
#1, DH says to do nothing until we can get a tax attorney.
I want to get these things filed ASAP and see where we stand.
Which would be best?
#2, I don’t work DH wants to file Married filing jointly to try and get the most to offset his owed amount. My understanding is if we file jointly I become responsible for this as well. After years of this kind of crap, divorce is afloat and I don’t want to be stuck with his idiots debt. Any advice?
Been married since 1995
Rent our home
Have no assets
Should I file these ASAP or wait to get a tax attorney?
After years of being in the hole I was given control of our finances in June 2006 and just got us paid up on all our debts. Now this. Can I claim the first $12,000.00 of DH’s life insurance as a tax free gift? I am only joking……. ha ha yeah ha
Tags : 1999, claiming, dependents, exempt, Filed, Haven't, Only, prefiled, rest, since, Year
Date : March 6th, 2010Category : UncategorizedAuthor : Editor
Tags : 2008, 2009, Anyone, calculator, Financial, Free, Income, Link, send, Year
Date : March 6th, 2010Category : UncategorizedAuthor : Editor
In 2008 I owed $1100 in federal taxes after running through my tax software.
Well, I changed all my withholdings to 0 Federal and 0 state, plus single even though I am married. I changed my wifes income to 0 Federal and 0 state, but married status.
This year we still owe $550. I am very worried about an audit. What should I do?
Tags : Audit, chances, Federal, Money, Rules, Straight, Taxes, There, Year
Date : March 5th, 2010Category : UncategorizedAuthor : Editor
recourse does the living next of kin have. They live in the home of the deceased (willed to her). The mailman had a certified letter from the IRS and she refused to sign for it stated that her mother was deceased. She is concerned that they may try to gain entry into the home. My question is this can the IRS come into the home for any reason and if so would they have to have a warrant. Who is responsible for the tax debt of the deceased/
Tags : almost, Back, Been, deceased, Owes, Question, seemingly, Someone, Taxes, what....., Year
Date : March 4th, 2010Category : UncategorizedAuthor : Editor
I didnt file tax last year 2007. I make a small profit, roughly $20K on a cash-based business, buying and selling stuff. (not a registered sole proprietorship, just doing it out of my own spare time)
I have to show my last year’s tax to sponsor my husband for his green card. would I be able to file by 2007 tax return now? how? and where can i find a list of penalties for late filing? thanks
Tags : backtax, Filing, Last, missed, Penalties, Taxes, Year
Date : February 25th, 2010Category : Tax Attorney Long IslandAuthor : Editor
My mother is over 65 and owes the IRS back taxes. She makes under $26,000/yr. We have hired a law firm to negotiate with the IRS as she does not have the means to pay.She recently heard of a person (a friend of a friend) that found out after some research,that they are not liable because they are over 65 and make under either 24k or 26k per year. However, my mom’s attorney’s (who only deal with the IRS) neglected to mention this, so I’m not sure if it’s true. Possibly the law firm knows this and wants to collect fees anyway? Any info would really be appreciated.
Tags : $26k, Back, Liable, Over, Taxes, Under, Year
Date : February 24th, 2010Category : UncategorizedAuthor : Editor
do you put in paid federal income tax and and paid in social security and medicare you’ve paid in ?
Tags : calculator, Federal, Income, Paid, Using, Year
Date : February 22nd, 2010Category : UncategorizedAuthor : Editor
I need a website from where I can download income tax calculator for India for the assessment year 2008 – 2009 Somebody please provide the relevant link. Thanks
raghavan_sn@yahoo.com
Thanks Prasanth,
That was really nice of you. Many thanks.
Tags : 2008, 2009, Assessment, calculator, Excel, Form, Income, India, Need, preferably, Year
Date : February 22nd, 2010Category : UncategorizedAuthor : Editor
I have a friend who is going through a major face to face tax audit next week.
I remember reading somewhere that if the auditor asks for a previous year tax return that you should refuse to do this. It went on to explain why and how do refuse nicely.
Does anyone know about this or remember reading this article. It was sometime in the last 1-2 months in a magazine and could have been in Money but I cannot find it now.
Tags : Audit, deny, Federal, previous, providing, Returns, Year
Date : February 22nd, 2010Category : UncategorizedAuthor : Editor
I am a freelancer and have never had a project carry over 2 years. I started a number of projects in Aug of 2009, and finished the final project Jan 2010. I am sending the invoice and receiving payment in 2010. Do I claim the income on my 2009, or 2010 taxes?
Tags : 2009, 2010, invoice/receiving, Payment, sending, Work, Year
Date : February 8th, 2010Category : Tax Attorney Long IslandAuthor : Editor
For example, criminal defense attorney’s, business, tax, personal injury, and family. If you’re a lawyer can you cover all these types of law as well? Any help would be greatly appreciated.
Tags : Attorney's, Much, These, Year
Date : December 23rd, 2009Category : Tax Attorney Long IslandAuthor : Editor
The April 15 tax deadline has come and gone. For the millions of taxpayers who failed to file legally required tax returns, tax help is available for those who act now! Even taxpayers who received an extension for filing are not granted more time for the payment of taxes owed and may need income tax relief.
The act of not filing your tax returns can lead to more significant financial problems in the long run. Not to mention, failure to file tax returns may be construed as a criminal act by the IRS, punishable by one year in jail and $10,000 for each year not filed. Needless to say, it’s one thing to owe the IRS money, but another thing to potentially lose your freedom for failure to file a tax return.
 The longer you put off dealing with overdue taxes, the more serious your IRS problems will be. So I recommend filing any tax returns that are due as soon as possible to avoid additional interest, penalties and potential IRS collection tactics, such as a levy on your bank account.
 With the federal budget deficit for the current year expected to top $1.8 trillion, Americans can expect more tax audits and increased IRS actions. So anyone who owes back taxes will want to avoid becoming targets of aggressive IRS collection efforts that can financially cripple them for life.
 Here are 5 reasons to file your delinquent tax returns:
 1) You can go to jail for not filing your taxes
Even if you havenât filed your tax return for one year – it is still considered delinquent and could be construed by the IRS as a criminal offense. Actor Wesley Snipes didnât report more than $10 million to the IRS and he was convicted of three misdemeanor counts of failing to file a tax return. Richard Hatch, who won the first season of CBSâs hit show Survivor, is in prison for failing to report $1 million in prize money.
The IRS goes after those U.S. taxpayers who try to avoid taxes, and Average Joes as are just as likely as high-profile individuals to be targets of the tax-collecting agency. At every level, the agency has become increasingly aggressive in pursuing tax cheats. Are you willing to lose your freedom because you failed to file your tax returns?
2) You can incur a 25% penalty for not filing your tax returns
In this economic downturn, Americans may opt to not file because they donât have the funds to pay the taxes owed. The best thing for taxpayers in difficult financial situations to do is file their tax return, pay what they can and work with the IRS to establish a payment plan that will keep them compliant.
Additionally, if there are any delinquent tax returns that are due, they should consider filing these returns as soon as possible to avoid the wrath of any potential IRS action, such as a levy on their bank accounts.
3) You can incur additional penalties for not paying your taxes
If you fail to pay your taxes due, you will incur additional penalties for failure to pay. Taxpayers who request an extension of time to file should keep in mind that this it is not an extension of time to pay. To avoid additional penalties, taxpayers should file by the deadline and pay as much as they can, even if they are unable to pay the entire amount due. You will still have a failure to pay penalty, but itâs much less. Then you can work with a specialized tax resolution expert to help you negotiate a tax settlement.
4) You can be subject to an increased tax bill if the IRS prepares your taxes for you
The IRS may prepare a âSubstitute For Returnâ for delinquent taxpayers, in which they wonât be able to file for all of their personal exceptions or allowable deductions. Because these returns are filed in the best interest of the government, the only deductions they’ll usually see are the standard deduction and one personal exemption, subjecting them to a larger tax liability. So itâs important for individuals to file their 2008 tax return as well as any prior delinquent tax returns as soon as possible to save money and avoid significant long-term consequences.
5) You must have all prior tax returns filed to be eligible for income tax relief
All back tax returns must be filed before the IRS will even entertain any type of tax settlement like an offer in compromise or monthly payment plan arrangement. The good news is the sooner you take care of your delinquent taxes, the less penalties and interest youâll owe.
I believe thereâs a solution to every problem. For delinquent taxpayer, itâs never too late for to resolve your tax debt and avoid IRS penalties.
For more information on receiving income tax relief or help resolving back taxes, visit www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.
Tags : Delinquent, File, Havenât, Hope, Paid, Reasons, Returns, Still, Taxes, Thereâs, This, Year
Date : October 13th, 2009Category : Tax Attorney Long IslandAuthor : Editor
Each year my employer does not deposit any income he receives in the month of December. He holds onto it at his office until January of the next year and then deposits it. Because he does not deposit the money until January, he does not report the December income on the previous year’s taxes. Is this legal or ethical? He is an attorney by the way. Because I have detailed knowledge of this, I am worried I could be held liable for some kind of tax fraud if the business were to ever be audited. Do I have any cause for concern?
Tags : December, Employer, Income, Legal, Receives, Report, Year
Date : October 11th, 2009Category : Tax Attorney Long IslandAuthor : Editor
I for some reason did not file my state taxes in the year 2000 and 1999. Can I now file a return for those year and take advantage of my deductions. The state is telling me I owe them around 7,000.00. My refund for 2007 was applied to my balance. Let me make this a little more complicated, I also filed an alternative federal tax return for those years. I was audited three years later. I then file an Amended return, however, they were making it very hard for me so I contacted a tax attorney. He somehow resolved my tax issue. I was told by this attorney that my tax issues were dead, however I still get a friendly reminder every year that I owe this money. The attorney told me that is was dead as long as I do not ever contact them. So if I do file an amended state return for those years, am I opening a can or worms. Someone please help, I have no idea what to do. The attorney I used before has not moved out of state.
Tags : 2000, File, Return, Year
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