 Donate Cash to person with disability can be tax deduction? |
| I gave cash to someone with disability for him and his family over $2000. I don't have receipt, but he can write me a letter to proof that, can I still write this amount off???? any ... |
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 Where do you recommend getting taxes done through? |
| I have always done my taxes in the passed but, my fiance and I do craft shows and I made a lot of profit and have a lot of tax exempt stuff so I think it would be to much stress. I am going to get my ... |
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 What if my previous employer doesn't send me my W-2? |
| So, In late January of last year I quit my job. It ended on a bad note with my employer, whom I worked for in her house. She took out taxes and everything. What do I do if she doesn't send me my ... |
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 Is the irs illegal or legal? |
Additional Details
Ok, right if it is Volintary the why are so many in jail then,or why cant I get a job with out paying for this cr*p hm mm.
I think ill just leave the us and be ... |
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 Sould I pay my wife's 401 loan with my 401 to prevent taxes and fines? |
my wife just got laid off. She has a 401 loan around $6500 should I pay it off with my 401 to avoid taxes?
Additional Details
my wife just got laid off. She has a 401 loan around $6500 ... |
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 Can I claim petrol allowance? |
| I spend about 10 pounds a day on petrol, I'm in a full time permanent job and I have to use my car for work so how much can I expect my employers to pay legally...do they have to pay anything? I ... |
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 If you work for the church, is your paycheck taxed? |
| i know if the church makes a purchase they do not pay taxes because of the "seperation of church and state" but what about paid employees? do they pay any taxes? do they just pay federal?... |
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 IRS email scam? |
| I have been recieving emails almost every day- the address is donotreply@irs.gov, saying that I am owed a tax refund. When i click on it, it asks for my bank account or debit account info and says ... |
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 Are mortgage points deductible in the yr of pmt or do I spread them over life of loan? |
| I am a 1st time home buyer and am in a high tax bracket (33%). I am considering whether I should accept points and buy down the rate and claim all the points (approx $11,000) in the current year when ... |
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 How do rich people pay less tax? |
| How do rich people manage to find ways of paying less tax? I read that they employ people to find ways of reducing the amount of tax they have to pay and I was wondering what kind of things they do.... |
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 Unemployment taxes? |
| Stupid me didnt report my unemployment from 2006 on my tax return. WHat is going to happen? What should I do?... |
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 Paying Taxes on Stocks??? |
| Sold my Stocks and there were taxes already taken from them. I want to know if I have to pay again when I file taxes for this year (2008)...... |
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| What do I have to do to start paying tax on the interest on my bank accounts? |
| When I stayed at home to look after my kids, and therefore didn't pay tax, I didn't have to pay tax on the interest I earned on my current and savings accounts. I have now gone back to work.... |
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cm | Haven't filed taxes in 7 years? please help IRS is after me? |
might be more than 7? but here goes...worked for self 4 or 5 years..during a bitter divorce...all my files were destroyed..during that time my home was repossessed, and the IRS is saying that the repossession of my home is income? (10k worth)... worked for 2 companies the rest of the unfilled period where the IRS had all of this documentation, and I didn't make enough to owe the IRS.
So the IRS is saying I owe them a grand total of 15k..and all this time I was barely able to support myself and child..I barely make it from week to week now..is there some way I can get out of this mess? |
 |
 
wartz
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The first thing you need to do is file correct returns for the past six years or longer if IRS asks. If you don't have records, it may be possible to reconstruct something close to accurate using what are called "indirect accounting methods." When you know how much you owe and what your current financial situation is, it will be possible to determine how much, if anything, you can pay right now. knowing whatever this turns out to be puts a finality on the issue that makes it easier to live with and easier to make peace with IRS. |
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Judy1
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I'd find a local CPA or Enrolled Agent to help you sort out what you really owe - it might or might not be as bad as they say it is. Cancellation of debt on your house is generally taxable income, but there are exceptions. |
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Pat0785
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The IRS has powerful collections mechanicsms. You will need to get help from specialist in IRS backed taxes. Google "Back Taxes" and you should be abled to find an agency that will help you. Good luck |
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bud68
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You got yourself in the mess. The way out is to pay. |
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MannyV3
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First off, you need to file your back taxes. Once they are filed then you will know how much you owe and you can come to some form of agreement with the IRS. If you don't have all the documentation you need, you can use a substitute W-2 form to file with the IRS.
Here are some how to articles on what you need to do, first one is filing your back taxes:
http://www.backtaxeshelp.com/File_Back_Taxes.html
After you have filed, you need to figure out how to pay them off. If you don't have the means to pay them off, you may be able to get declared uncollectable for the time being. Know this, thousands of people every year cannot afford to pay the IRS, the IRS has made payment or settlement methods for every individual of every financial situation to be able to get back onto good terms with the IRS. Here is an article on paying back taxes and settling them.
http://www.backtaxeshelp.com/Pay_Back_Taxes.html
You maybe should consider a tax professional for your situation to prevent future penalties and interest from adding up. They can also file your returns and ensure you get the most deductions allowed. Most of the time a tax professionals are worth their cost in terms of them saving you money you owe to the IRS. |
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Sharon T
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If your child lived with you, EIC should reduce this amount considerably. If the child lived with your ex, then that won't help.
You need to get your returns filed quickly. You must have had a checking account. Get copies of your records. Sure, it will cost some money but that is all you have if you didn't keep the receipts.
The home repossession may indeed create taxable income if you owed more on it than you purchased it for (plus improvements).
Do find a good Enrolled Agent or CPA to represent you. This isn't something you can do well for yourself. |
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Jss
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1. You must file all tax returns. Start one by one.
2. Yes, debt cancellation is income. But when you report sale on schedule D, you may not have a profit. Also you can exclude gain of up to $250,000 if you lived in it for two years and owned for two years in last 5-years.
Read about debt cancellation, http://taxipay.blogspot.com/2008/08/us-income-tax-topics-1.html |
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granny
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Have you ever seen those ads for attorneys who work for you against the IRS and they claim to be able to make settlements for pennies on the dollar? Check the yellow pages. But if you don't realize it the IRS is always right unless you can back it up with all your paper work to prove them wrong. Otherwise your best bet is to get legal help. Yes it will cost you but probably not as much as the IRS will charge you with interest added on. |
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