 What is the best excuse to use for avoiding hefty interest charge from inland revenue for late tax payment.? |
| I am due to pay a few grand by end of january but won't be able to pay until end of march. Will they give me an extention?... |
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 $100,000 and pay 36,000 of that in income tax? |
The first year i work I will pay 36% in tax, plus student loans, so more of my money goes to the government than myself???
Am I thinking about this correctly?
Additional Details
S... |
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 Is PAN necessary for cheque deposit? |
| Is it necessary to mention PAN number to deposit a 10lakhs cheque in India?... |
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 Can anyone offer advice on making taxes less painful when you don't own a home or have kids? |
| I'm hoping that someone out there can give me some advise on how to relieve my tax burden or at least direct me somewhere that I can find information. The situation is that my husband and I ... |
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 What happens if someone else pay off my mom's house? |
| She is recieving social security. Would she have to claim this on her taxes? Will this affect her social security for next year?... |
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 Im 19, dont live with parents, provide my own support, made 25,000 this year,Im a full time student.Dependant? |
| I paid more than 1/2 for my tuition but do not have much of a paper trail. I gave my parents cash. I moved in with my grandmother about 2 yeah ago and we split the bill. Can my parents claim me as a ... |
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 My childs father wrongfully commits fraud every chance he files for my child.? |
| my childs father called me up trying to get me to drop child support being that he is broke from oweing the irs. he rushes to claim my child before me. he has been claiming my child every year i have ... |
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 Can i claim housing benefit? while i live at my partners mum's house? ? |
| i have just lost my job and struggling to pay for our rent there, my partner is on maternity leave and her parents cannot afford to keep us there rent free. We cannot get a council house as we own a ... |
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 Can someone win against the IRS? |
Has anyone ever won a legal battle against the IRS, as far as proving that they didn't make "income" for a particular tax year?
Additional Details
Wayne Z- Are you ... |
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 Pay IRS before getting refund? |
| So i know i have to file my taxes before i can get the new refund checks but i owe them 150 dollars. does that have to be paid before they send the refund?... |
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 I am being audited by the IRS for the year 2006. I have a retired IRS employee who does tax returns on the? |
| side, and I pay her. The IRS says some income was not reported and now I owe $815. Who is responsible to pay this money? Me or the paid tax preparer?... |
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| Married filing separate and joint? |
| i think my ex husband (final as of 3-16-07) may have filed MFJ or single on his tax return. In our divorce decree it clearly states that why BOTH must file married filing separate as we could not ... |
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 I have not paid my taxes in 2 years..help!? |
| I never owe. I have always gptten like 1000 dollars back every year. But because I am behind on student payments, they always take it anyways. So for the past 2 years I haven't bothered. I want ... |
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 Why is my former employer reporting 1099 income for my rolled-over 401(k)? |
| I left my company last year and promptly rolled over all of my 401(k) *directly* to an IRA. I've done this several times before. I almost had a heart attack when I got a 1099 from them ... |
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Waterboy | Can you claim medical insurance premiums if there deducted before your taxed on your pay? |
I may have made a mistake on my taxes. |
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bostonianinmo
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No! You already got a 100% deduction for them by paying them with pre-tax dollars. If you claimed them on your return, it's time to file an amended return on Form 1040X and pay the extra taxes and interest due. It probably won't be a lot if you get the amended return in quickly, but it's adding up a little bit each day that you delay. |
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Mom of 2
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No, you have already received the tax break for the premiums. The only things you can claim as medical expenses in this case are any out of pocket expenses such as deductibles and copays |
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PepsiLime
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No, you can't claim medical insurance premiums if they are deducted before your taxed on your pay. That is called a pre-tax medical plan. The insurance premiums are deducted from your pay, but are treated as if you never earned the money in the first place. You can still deduct your other medical expenses, co-pays, hospitals, dental, eyeglasses, hearing aids, etc., as long as that total exceeds 7.5% of your AGI. And of course your itemized deductions have to exceed your standard deduction. |
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bigdonut72
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no. |
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mdk
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You'll get a letter from the IRS saying "you made an error in calculating your taxes. This is what you owe."Don't lose any sleep over it. Just pay it when it comes. |
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Jo Blo
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no,, that would be deduction twice times,, |
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Patrick S
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Check your Schedule A (which is where you would claim those deductions). The very first section is for medical. If line 4 is greater than zero, you may want to file an amended return (1040X). If it's zero, you did not go over the 7.5% limit and you don't have to do anything. You can wait for the IRS to catch it, but if it takes them a few years, the penalties and interest started accumulating on April 18th. You can judge the level of risk you are willing to take (my level is very low, lol). |
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StephanieS
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No...how could you claim something you did not pay? Didn't your employer make the premium payments on your behalf?
You may not be in big trouble though...I enter my medical expenses on my schedule every year, but it's never enough cause I think the first 7.5 percent of expenses are not deductible at all. If you were able to deduct your medical then you prolly need to file a 1040X...ooops! |
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