Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 What are the consequences of not filing taxes for several years?
What if someone has lived abroad for five years and not filed their US taxes even once in that time? What are the possible consequences of this? How can this be remedied?...


 Returning DVLA tax disc?
I am getting my vehicle scraped, but it's tax disc does not run out till August, but I heard if I send it back to DVLA I can get a refund for 5 months! How do I send it back to DVLA? What forms ...


 Do I have to claim my daughter's earnings if she files herself, and I claim her as a dependent? Since she is
...


 What qualification is required to prepare people's taxes?
Does it require certification, accounting degree, CPA, or what?...


 I claimed a child on my return without permission but he lived with me and his parents claimed him also. HELP!
i claimed a teen on my income tax return who lived with me the entire year and i took care of him . i claimed him on my taxes and got the money back already. i did not ask the parents if i could ...


 Can I claim my brother as a dependent?
My brother has been living with me for the last 1 1/2 year. He has only worked maybe for 2 month at most of the last year. He does not pay any money at all to live here not even for food. Does this ...


 I am Brazilian, and living creature very well, logical! how it is to be an Indian poor person, is very bad to?
I am Brazilian, and living creature very well, logical! how it is to be an Indian poor person, is very bad to live in this poverty that vocês lives?...


 If Social Security is your only income will you be eligable for the newly announced tax rebate?
...


 Why does Australia need such a massive surplus? Why hasn't OUR tax money been spent bettering our services?
...


 Why won't the IRS, nor most C.P.A.'s show us the stautue where it's states all workers must file a 1040 form?
Recently, Tom Cryer was recently found 'not guilty' by a jury for 'failure to file' a tax return. Mr. Cryer stopped filing yrs ago. The judge, the govt attorneys, and the jury ...


 I am a carer and work in visiting peoples homes am i entitled to claim mileage from the inland revenue?
i use my own car and i dont recieve anything from my boss for my ...


 What is the percentage decrease from 95kg to 76kg?
...


 $600 tax refund check? I only got 389.90...why?
What happened to the other $210.10???
Additional Details
Ok, well I guess I didn't hear the Prez right...I didn't hear him say "...up to...". I thought Uncle Sam was ...


 My son lived with me all year but he made $4000 and he was 24, can I still claim head of household.?
I supported him over one half of his support....


 Are we really not required to pay our income tax?
Ive seen numerous things about there be NO law to make us pay or file an income tax. How accurate is this? I shouldnt wouldnt mind keeping my money.
Additional Details
Umm actually if ...


 Do I need an accountant?
I am a sole trader, but mainly need someone to help me sort out budgeting and paying back debts.
End of year accounts I can do myself-particuarly with online self assesment.
Am I wasting ...


 What states have no taxes?
like what states have no state taxes? are there any?...


 If you owe money to the IRS, will they take your stimulus money to be repaid?
One of my co-workers said that the IRS told her daughter that they will be taking her stimulus money, due to the fact that she owes back taxes. I thought the money is ti stimulate they economy, not ...


 Do you pay more tax on a 2nd job? or is the same 20% on both?
I have 1 job of 32 hours and a 2nd job of 14 hours,I know about the personal tax allowence but do i pay a higher rate on the 2nd job or still 20%?...


 How long after filing tax return does the IRS usually take to audit you if they want to?
Do they usually do it the same year?...



Tiffany
How can i claim my kids on my taxes and havent worked this year?
I have not worked all this year. but i am in school( college). i have two kids how can i file taxes. i have watched and earned some money watching my family children?
                     
 




Landlord
Rating
You paid no taxes. There are no taxes to refund to you. You can not receive a refund on something you never paid in the first place.


Judy1
Rating
If you earned money from babysitting, over $400 for the year, you are legally required to report the total amount you received on a tax return and pay the tax on it. You can claim your kids on your return - the EIC you'd probably get might pay the tax you owe.


ninasgramma
If you are under age 24 and in school, and you live with a parent or other close relative (older sibling, grandparent, aunt, uncle), then that relative is going to claim you as a dependent.

If you earned less than $3,400 in 2008, then a close relative that supported you is going to claim you as a dependent.

The same comments apply to your children.

If you file that you babysat family members, and then claim your children as dependents and the tax benefits that go with that, you may be asked to document your income. The IRS is getting suspicious regarding such returns.

Just FYI.



travelguruette
Rating
If you have no income and paid no taxes you have no income tax return to file.


Clark Kent
Rating
Unless you report some income, you will have no tax, and would not need to claim your kids or even file a return.

If you have enough income to file or file jointly with your spouse, then you might need to claim them as exemptions if you would owe any tax if you did not claim them.

If you have a small amount of earned income, you might need to file to get an earned income credit even if you owe no tax.





Bill F
Rating
I assume someone is helping you with your expenses since you have not earned money this year. You have some options.
1. You can claim your babysitting money, in which case you would owe the IRS income taxes, self-employment taxes, Social Security, and possibly state taxes. You would probably not have to pay this if you claim your own kids in this case.

2. You could allow the person that has helped you financially to claim your kids, thereby reducing their tax liability, and possibly getting a bigger refund and sharing it with you.


Sharon T
Report and claim the babysitting money you have earned. That may entitle you to receive some earned income credit.


bostonianinmo
If you have no income, there's no need to even file. Claiming your kids on your tax return reduces your tax, but if your tax is already zero there would be no benefit in filing or claiming them.


golferwhoworks
Rating
if you did not pay any taxes how are you going to get a refund? Oh I know jsut file and Obama will send you some


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.014
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy