 Gambling winnings and state tax question? |
Okay, so gambling winnings must be declared as taxable income for federal and state taxes.
What happens if you happen to win a big prize on the exact same day you move from one state to ... |
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 I worked two jobs this year one job I only worked two months I haven't received my w2? |
| The job I worked 2 months on has closed down and I'm having a hard time obtaining my W's I only made 5500 dollars should I just scrap it?... |
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 Who should claim my new daughter me or my boyfriend? he worked and made 3K but i only worked 2 weeks?? |
| how does it work we live together but arent married i want the maxium amount back and will we get the EIC also?... |
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 If one was not employed but a full time student with a dependant, are you able to still do taxes? |
| Full time student throughout the whole year and did not work. I have a dependent and student loans. Will I still get a return like for the child tax credits and refund money for schooling?... |
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 How much would it cost to import better weather? |
As much as we pay in taxes, I would think we could use some of that money to get a better climate.
Maybe we could buy Hawaii's surplus weather. Has UK ever made them an offer?... |
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 I'm self-employed. If I make quarterly estimated tax payments, do they include Medicare and Social Security? |
Do I pay separately for Medicare and Social Security or is this included in a quarterly estimated tax payment?
Thanks!... |
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 What do you think about Bush's tax rebate plan? |
| I mean a check for $800 would be nice, but 150 billion dollars for a "shot in the arm" not sure how I feel about that. What do you think??... |
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 Is anyone with last two social #'s 66 having trouble on the irs.gov rebate tool? |
| just wondering why I still cannot get status on my rebate,some people with higher numbers are able to get it.... |
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 How do I find when email I received is a scam or real ? |
| Banks in HongKong is asking me to come there and pays more than 7,000 us dollars as taxes for the money I inherited to Mr rafik Hariri from Barclays Bank in London the amount is 36 million pounds ... |
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 Does the tax man come after Employed people the way he comes after Self-Employed people? |
| I have been self-employed and now am on the verge of becoming employed. I have heard that even though one can subtract more expenses related to one's work when he is self-employed, it is more ... |
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 Does anyone know how I can find the name and address of a top person with the accounting company HR Block? |
| After 20 years of never having a problem with HR Block I experienced a quite expensive and very unfair situation this year in NYC. I worked with the nicest woman who spent a lot of time preparing my ... |
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 We have 3 kids. Should we file Married filing Separately? |
| I was told we can only claim 2 children max. We wanted to file Married filing Jointly. We are in Florida Should we file Separately so we can claim all 3 kids?... |
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 Very low income? |
| My income is half from Social Security and half from the Department of Labor. Department of Labor is TAX FREE, and that make my Social Security under $15,000 a year, when I went to the Tax Prepairor,... |
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 I never filed for 2006. I received an assessment letter, I have a question regarding the 1040? |
| The assessment letter tells me clearly what I made, what my deductions were and what I owe. No contest from me, I want to send them the 1040 as soon as I can. The lady from the IRS that I spoke to ... |
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 My friend ex husband is committing fraud.? |
| He claim he is disable so he doesn't have to give her any money , but he is actually working for so many years, he's also not paying taxes, what can my friend do about this?... |
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dittersdoodles | How many people know the truth about the Stimulus Checks? |
After reading this I had to laugh:
http://answers.yahoo.com/question/index?qid=20080201135041AAC1RdN
The stimulus check is an advance on next years tax refund. You will have to deduct that amount from your refund amount. If your refund is less than the stimulus they say you don't have to pay it back. So if you got $1200 for the stimulus and normally get about $5000 back every year, plan on having less money next spring. The proof can be found on the IRS website as well as H&R Block's site. When the government chose to give they weren't using both hands (one was behind their backs with their fingers crossed). |
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Jeff
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It's an advance on the refund, but your taxes were also reduced by the same amount. |
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Celeste
 |
Both H & R Block and IRS websites clearly state that the rebate is not taxable and will not reduce your refund or increase your tax due.
The rebate is an advanced credit not an advanced refund.
You need to recheck your information. |
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wylde95 A.R.T.
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I went to the IRS website and that is not true (Celeste is also correct)
Note the first and third Q&A especially.
http://www.irs.gov/newsroom/article/0,,id=182003,00.html
Q. Is my stimulus payment taxable?
A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.
Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?
A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]
Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?
A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return. |
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viajero_intergalactico
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when you go to buy a car and it has some sort of incentive, like a rebate...what does that mean?
yes, it means you are going to get a check from the manufacturer for some agreed upon amount. that amount comes back to you from your own money.
so its just your own money that you are getting back.
and as stated before, its also called a tax cut.
by the way, that inturn chaser also left office without a budget deficit. in fact, there was actually money in the coffers when he left office. that money disappeared in just a few months when the ranchero came in (long before the war started). hmmmm. |
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Bob F
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It is an actual tax cut. You are just receiving it now instead of part of next year's refund. You don't have to pay anything back, nor will it hurt your refund next year. The government is GIVING you money, whether they used one hand or two. If you are used to getting a $5000 refund, and everything in your life and job are the same next year, you will still get that $5000 refund AND keep the $1200.
Yes - actual tax cut. The third you have received while Bush Jr. has been in office. That makes 3 for Bush Jr, 0 for the intern chaser before him. |
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Judy1
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No, you are reading it totally wrong. It's an advance on a tax cut for next year, not on your regular refund. YOu don't have to pay it back, and it isn't deducted from next year's refund. If you would normally have gotten $2000 next year and you got the rebate this year, you'll get $2000 next year. If you did NOT get the rebate this year, and would have gotten $2000 next year, you will get MORE than $2000 next year if you owe any tax, because you'll also get the benefit of a one-year tax cut. If you get the rebate this year, you won't get that extra, because you will have already gotten it. |
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gumby
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Actually, at my husband's accounting firm, none of the 12 accountants can agree on what it means. They've poured over the IRS website and they've poured over their own source. And not a one can agree on exactly what the stimulus checks mean. Do you have a link to the irs site that gives a crystal clear explanation? Because I have yet to see one. |
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MISS JENN
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You are HORRIBLY misinformed!!! |
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