 Can anyone tell me 40 percent taken off of 700.00 dollars , what is the answer please ? |
| I am doing a tax percentage , 40 % tax off of 700 dollars , I am not bright with math , I don`t understand how to do it on a calculator , can anyone help me please .... |
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 How much tax will I pay with 2 jobs? |
| Hello..I would like to know how much tax will I pay if I get myself another job..right now I'm on part-time job wich is about 40 hours weekly...I want to get another job..say about 20 hour per ... |
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 I have just been fined by my bank? |
for being 7p overdrawn on my current account. They have fined me £5 for being overdrawn on my card and £25 overdraft monthly fee. They have "let me off " the £5 but have taken ... |
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 Do we really need to pay our income taxes? |
| There is no law that states that we "MUST" pay them...and the "fact" that when we do pay our taxes, they go to service programs...fraud....the money from income taxes goes to pay ... |
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 Why should we have to pay taxes ? |
why should we have to pay taxes ?
after you work all your life and buy a home you have to pay the government taxes just for owning it... its an illusion you never really own anything you just ... |
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 Why are the most productive people taxed the most? |
And the least productive people taxed the least (or not at all)?
Does this make any sense to anybody but a communist?
Additional Details
JACK You lose, L... |
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 In your guys' opinions.....? |
| which is better to go to......H and R Block or Jackson Hewitt?? i have been going to H and R Block for years but i was thinking about trying Jackson Hewitt because i wasn't too happy with H and ... |
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 If you donate to Good Will is that a tax write-off? |
| I have TONS & TONS of clothes and shoes, etc worth alot of money; my husband tells me to donate it to Good Will so we can just write it off for our taxes? Is this true? And how do I go about ... |
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 Can I claim child support on my taxes? |
| I write a check for an amount assigned by the state plus i pay for health care the my child. Can I claim this on my taxes?... |
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 Stimulus Rebate Cant Provide Status? |
Last 2 digits are 03. Supposed to hit today Direct Deposit.
IRS website says:
"We are sorry but we cannot tell you the status of your Stimulus payment."
A... |
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 Do the homeless and unemployed need to file taxes? |
Ok....
I have a bet going with my girlfriend. Do you only need to file taxes if you have an income? My thought is that even if you have no income, the federal govt. wants you to file a ... |
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 For the last 7 years of my Mums life, she paid a woman £113 per week to care for her. should this lady pay tax |
| My main reason for asking this is that I am aware that this lady and her husband fleeced my mother, and also basically ignored her during that time, despite the fact that my Mum bought her a new car ... |
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 Can I be claimed as a dependant on taxes? 21 yr old college student living with parents. Help!? |
| I'm a 21 year old student attending college...i live at home with my parents (and two sisters)...my parents provide everything (housing, food, bills etc)...and I have a less than part time job (... |
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 The rebate checks people are getting in the mail, is it tax free money? |
Or do you have to claim it as income and get taxed on it?
Curious.
Additional Details
Judy, it was just passed.... |
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 My boyfriend paid for all of my bills and expenses in 2007, can he claim me as a dependant? |
We've been living together for 9 years and last year was the first that he paid for everything...my student loans, bills, food, etc.
When I was younger and working, my father tried ... |
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neoblueleo5@sbcgloba... | How long must I have my tax records? |
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jcrules106
 |
Answered DIRECTLY from the IRS website:
You owe additional tax and situations (2), (3), and (4), below, do not apply to you; keep records for 3 years.
You do not report income that you should report, and it is more than 25% of the gross income shown on your return; keep records for 6 years.
You file a fraudulent income tax return; keep records indefinitely.
You do not file a return; keep records indefinitely.
You file a claim for credit or refund* after you file your return; keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.
Your claim is due to a bad debt deduction; keep records for 7 years.
Your claim is due to a loss from worthless securities; keep records for 7 years.
Keep information on an asset for the life of the asset, even when you dispose of the asset; keep records indefinitely.
Keep all employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later. |
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feisty_wun
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you should keep them forever because the IRS does
they have no statue of limitation |
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gonicki31
 |
It's always safer to have it for 7 years.(4 years minimal) |
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Ladybugtjc
|
From the IRS website:
How Long To Keep Records
You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. Generally, this means you must keep records that support items shown on your return until the period of limitations for that return runs out.
The period of limitations is the period of time in which you can amend your return to claim a credit or refund or the IRS can assess additional tax. Table 3 contains the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period beginning after the return was filed. Returns filed before the due date are treated as being filed on the due date.
Table 3. Period of Limitations
IF you... - THEN the period is...
1 Owe additional tax and (2), (3), and (4) do not apply to you - 3 years
2 Do not report income that you should and it is more than 25% of the gross income shown on your return - 6 years
3 File a fraudulent return - No limit
4 Do not file a return - No limit
5 File a claim for credit or refund after you filed your return - Later of 3 years or 2 years after tax was paid.
6 File a claim for a loss from worthless securities - 7 years |
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John K
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I heard 7 years, I think... |
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ladyindia2005
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always keep any inportant records like taxes for at least a year. |
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Mathew
 |
You are subject to a general IRS audit for three years back from the current tax year. In 2006 you will need all your 2005,2004,2003 records if audited. If you are “suspected” of tax fraud you are subject to audit forever. You are required by most states to keep "business records” for 7 years. If you had any Schedule C activity your tax returns are for sure a business record. There are other legal matters that can arise that it would be to your advantage to produce your tax records. I currently have a situation involving thousands of dollars, which will require 15-year-old tax records, be produced to make a legal point. That case has nothing to do with the IRS but those records are the best evidence available (who would ever lie to the IRS) to prove a given issue. The best answer is to keep income tax records until three years after you are dead because of estate taxes and all of the other legal matters in which they can be helpful. I would take a deduction for the cost of the file cabinet necessary to do so if you only use it for tax records. |
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Lianne
 |
7 years minimum |
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piteous_wight
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Well it depends on your situation...sometimes up to 7 years if your gross income is exaggerated by over 20%. |
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Dr Love
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Most people on average say 3 years. That's true if you have one job. If have two jobs or have your own business, keep them as long as you can. |
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Avah Belle
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Im not sure 100% about USA - but in Australia its generally 5 years. |
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INACTIVE
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The correct answer is seven years in the event of an audit. Make sure to shred and not toss out anything older than that. |
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Eldude
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Some lawyers and accountants suggest today, between 6 and 10 years. |
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curmudgeon
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3 years. |
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ihaftaknow
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I second that. 3 years. |
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