 What is the tax law? |
| After nearly 5 whole generations of people, in the USA have been conditioned to pay income taxes, can ANYONE, anyone at all, show, in the federal lawbooks, where I or anyone else MUST pay an income ... |
|
 Anyone know how i can track my tax return delivery? |
| Or any way i can find the delivery date? Thanx in advance.... |
|
 Stimulus package question...? |
| My parents filed their 2007 taxes and would like to know how much they may get. They are married filing jointly. The income is $19,460.00. My sister and I live with them as dependents and we are over ... |
|
 Has the UK become an "I'm alright Jack" nation? |
| Sounds like it with the answers I've seen this morning! As long as you're alright !... |
|
 Stimulas package ?? |
i owe student loans; i need to know if the fed's will take my stimulas package for what i owe on my loans.??
i have heard that they will & that they will not.
does anyonr know ... |
|
 Tax deductions- adult children? |
| My two sons (20 and 21) are still living at home. Each earned a little over $3500 last year. I provided 99% of their upkeep including room and board during 2006. Can I claim them on my tax as a ... |
|
 I never filed 1999 tax return and just recieved a bill. Can I file my 99 return still? |
| I never filed my tas return in 1999. I recently recieved a letter from the IRS that I owe money from that year. I recently did my 99 return and relized I was owed money. Is there a time limit on ... |
|
 Can you claim car insurance as an expense? |
| I am a driving instructor and im just wondering if i can claim my insurance, or any part of it, as a business expense. Never have done before as i only pay about £400 a year anyway but thought i'... |
|
 Can married couples file seperate and each claim a child on the tax return? |
| I have a friend that has been doing this for the past few years. If it is not okay, is there a fine that she or he will receive?... |
|
 I only made a little over $1,000 in 2006, should I file my taxes? |
| I live with my Dad and he has always delcared me as a dependant on his taxes every year. Last year, I barely worked(was full-time in college) and only made about $1,000(total taxes was like $200). S... |
|
 What is the point of a tv licence in the uk? |
| far as i know, it was set up to FUND BBC! as they dont have Adverts. but we dont get a say what they put on lol, then i wonder well everyone has sky or cable or freeview these days so who actuly ... |
|
 What are the laws on claiming children on your taxes.? |
I am 23 and my parents still claim me! What are the laws on that???
Additional Details
last year i was away at school and they contributed a very small amount. i paid my own rent and ... |
|
|  |
Jackstarks | After typing in wife's W-2s, the refund amount lowered. What should I do? |
It was first time for me to file jointly and didn't know that I had to type in her W-2s. I used TurboTax to e-file the return, and received the refund. Later I found out I had to put in her income as well. And when I typed in her W-2, the refund amount went down a lot. Like 1k,... so..what should I do? Her income was 1/6 of mine last year. |
 |
 
MarineMom
 |
You need to file an amended return, a 1040X and correct the W2 amounts and this time add your wife's information. The IRS will get copies of your wife's W2's...and if you are filing jointly then her income has to be included as well.
If you were overpaid by $1000 then you just have to repay it. The IRS will let you make payments if you don't have the full amount either. But, the bottom line is that you can't just ignore it because eventually the IRS will contact you and then you will owe additional penalties and fines on top of the "extra" money you need to pay back that you already received from your refund.
Here is a link to the 1040X form that you need to download and mail in with the corrected information: http://www.irs.gov/pub/irs-pdf/f1040x.pdf |
|
G-man
|
You will need to file a correction with the IRS and pay back the amount of money they refunded you that you were not supposed to receive. Do this AS SOON AS POSSIBLE ... otherwise they will hit you with penalty fees and interest on the amount of money you owe. Turbotax can help you file a correction. You absolutely need to include your wife's income on your tax return OR do a Married filing separately and file her tax return separately.
Failing to make this right is against federal law for tax evasion and can end up hitting you with huge fines or jail time.
Good Luck. |
|
towanda
|
You have to include her income with yours should you file jointly. Sometimes it is better to check out if it is worth having your wife work. My friend decided to get a part-time job for cash to buy some things she wanted. It really wasn't worth it for her to have gone to work. Their tax liability was really raised and her husband was furious. You know you can do a dummy return for the next year and estimate what your wife can make to keep you where you want to be or have her withhold a ton of money next year or just be a woman of leisure, or put a bunch in an IRA to lower your income. |
|
itguy
|
Mostly a lot people make mistake on math or case like you. Don't worry IRS happy if you are good citizend file income tax like million American does. In your case usually, if you need correct any your Federal tax you need file 1040x , you have 3 years file it, but in your case you should file 1040x as soon as possible, if you pay back your tax and don't have money pay in full, make large payment as much as you could and they will sent out note for you later how much you still owned or refund. The software like Turbo Tax or TaxAct or any software will have form 1040x and you only fill out and send by mail. 1040x you can not filed electronic, included copy of yourwife W2 and any schedule that you have change. Second importand, you should file Amended with your state too, and included copy of 1040x form as correct for your state, I live in Minnesota so form will be M1X. Good luck to you, the tax software will tell you where send these form. |
|
Judy1
|
File an amendment, and pay the extra tax that you owe - sounds like you owe quite a bit. The reason is that if you filed a joint return, all of the deductions and exemptions got applied in your original return so there was nothing left to reduce her income so it's taxable starting at whatever rate yours left off.
Interest and penalties on the amount will be added on each month until you get this corrected, so do it soon.
Did you really think that her income was just tax free? |
|
JK Harris
|
You need to have an amended tax return, 1040X prepared as soon as possible. Since you now owe the IRS, the clock is ticking and the interest and penalties will add up on what you owe since the April 15th deadline. The sooner you get this taken care of, the less you will owe in interest and penalties. |
|
DJ
|
You need to file an amended return as soon as possible and pay back the difference. If they penalize you, pay the penalty, but send a letter and ask them to have mercy on you - since it was your first joint return and you corrected the problem as soon as you figured it out. It may work, it may not...
A joint return is just that, a joint return, so you have to record both incomes as well as any deductions you qualify for. In some circumstances it may be better to file separately - in that case you report your income and your deductions on one form and report her income and her deductions on another form. Usually you get a bigger refund or smaller tax bill by filing a joint return. |
|
betotron don
|
send a note of advice |
|
viajero_intergalactico
 |
Your refund is your refund. I assume you did everything correctly.
The reason it went down is most likely because with the two incomes you guys were put into a higher tax bracket.
There is not much you can do or even should do. If you like to get large refund checks, then both of you should fill out a new w4, but this is not recommended. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 20 minutes(s) ago
| | | |
9 | 56 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
