 Is this considered IRS Fraud? What should I do? |
I overheard my sister speaking to a friend who lives in Spain, she moved about a year ago.
Her friend mentioned that she filled her 2007 taxes and will be getting a refund over 5,000 dlls + the ... |
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 Is there any income that's totally exempt from IRS state tax seizure? |
Additional Details
such as Social security disabulity insurance (back payments) direct deposited ?... |
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 How much will I get? Read on please....? |
| I am a single mom, and claim 2 allowances, will I get ALL of my federal and state tax returns back?... |
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 How do you determine the fair market value of personal items for income tax purposes? |
| When I was doing my friends income tax for 2004 he decided to claim a casualty loss due to Hurricane Katrina. The IRS does not have any estimates for items lost due to casualties and theft so I was ... |
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 Can I claim my newborn daughter on my tax return this year? |
| I was reading on the IRS web site that a qualifyng child that you are able to claim on your income taxes must be living with you at least half of the year before you can claim them on your tax return ... |
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 W-2 1040ez form single. help! i dont know what taxable interest is.? |
#2 on the 1040ez.
Is it #2, #4, and #6 on the w-2. or is it just one of them?... |
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 How much per person is the tax rebate? |
I was told that it was supposed to be $600/person and then $300 per kid, but I only got $300 and then $300 for my son.
Will I have to claim this money next year?... |
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 Living Together with baby...? |
My boyfriend and I live together with our 5 month daughter.
He is aa independent contractor - he makes a percentage of his jobs so his salary is in flux. He generally does not have alot to ... |
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 Would you be willing to pay higher taxes for nationalized healthcare in the U.S.? |
Millions of Americans are without healthcare coverage and nationalized healthcare is the only foreseeable solution.
Additional Details
STEVEN F: I agree a government run healthcare ... |
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 Do employers in England have to pay you at a certain time on pay day? |
| For example if your pay is due on the 10th of every month, do they have to pay you by the time banks open on that day? My employer is claiming they can pay anytime up to close of the banking day, ... |
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 Tax ?I am married. My Spouse is defauted on student loans. We have 2 children.? |
| does that mean that the government will take our entire refund? Even if my spouse has this debt and I DO NOT? Because we filed together- ?? Or do they GIVE SOME BACK? Does anyone know how this ... |
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 Has anybody gotten their tax rebate check this week when they were suppose to get it next week? |
| This year i did my taxes on my own by direct deposit. I also did my husbands taxes and a cousin of mine who also ask me if i could have it dd into my account. Yesterday (saturday) we had a check of $3... |
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 Im workin 12 hours, can i still get family tax credit? |
| Im working 12 hours at work and need to know if i can family tax credit, as i cant change my hours! help!!!... |
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 Why do People Pay to E-file? |
I think it typically costs about $15 to E-file a tax return.
Why would people pay that money?
I am just as happy to print my tax forms and mail them. It's not worth me ... |
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 Explain,why the rich do not pay high taxes.could it balace the economy if they did? |
| if they did. why not provide a list of the persons and business and the amount that have to contibute, anual income under 250,000 pre year.... |
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Kiril M | For 2008 I did win over $25000 from jackpots..did not pay upfront taxes..Can I claim all of it as a loss.? |
Can I save myself from paying taxes on my winings..I did loose as well
from $25000..? |
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Laissez-Faire Guy
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Gambling losses can indeed be used to offset winnings, but there are 2 things you must do to do this:
1. You must itemize your taxes.
2. You must have kept records of your winnings and losses from gambling throughout the year, and be prepared to show that to the IRS. It's also helpful if you can provide receipts showing that you were in fact in town or in the casino on the days you claim the losses. |
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acmeraven
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You should have 1099 forms showing how much your winnings were and if anything was withheld and turned in to the IRS. If you itemize you can deduct gambling losses up to the amount of your winnings and Sch A of 1040. |
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dkny3141
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Ask the casino(s), where you won these jackpots at for a 2008 win/loss statement. Or ANY casino for that matter not just the one you hit at, and It will show on it your coin in/out (casino) and will have either a -$$$ or +$$$. If this was only at a casino, for example and it shows for example -32,000 then you can claim it all as a loss and not pay a single dime. If it shows anything less than 25,000 as a loss, you have to pay some. If you were -100,000 before you hit your jackpots, then it would not be -75,000 for example. I hit $8,000 last year and was at -18,000 which meant I lost really -26,000 but I didn't pay anything. |
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Wayne Z
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Yes, assuming that you have documentation substantiating the losses. |
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Judy1
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You can claim gambling losses up to the amount of your gambling winnings if you itemize, and if you have proper documentation. The rules for documentation include having a log you kept through the year of ALL of your gambling activity, showing specific information as required by the IRS. A bushel of losing lottery tickets won't do it. |
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travelguruette
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You can write off your losses against your winnings. Be prepared to prove it if you are audited. |
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roritr2005
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Uh, no. If it shows all in one win, you have to pay taxes on it because wherever you won it at reported it to the IRS. If it is under 5K, they won't know about it. It depends on how you won it. Good luck!!! |
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v b
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If you can PROVE the losses, you can deduct them on schedule A. See IRS pub 529 for the documentation needed. You can't just say, I lost money, you have to prove it.
You still have to put all of the winnings on line 21 as other income.
Also be realistic. If your player cards show winnings besides the $25000 in jackpots reported on 1099s, you have to include that income as well. |
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Jss
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Yes, you can claim losses. It is itemized deduction. You will take deduction only if your itemized deductions are more than your standard deduction..Read: http://taxipay.blogspot.com/2008/05/itemized-deductions.html |
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