 Filing electronically - still forms involved? |
I will buy tax software and file my federal returns electronically. I have heard that you still have forms to mail to the IRS even if you file electronically.
Can someone tell me if you still ... |
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 I recently lost my W2 tax forms and my job says it cannot help. Does anyone know how I can obtain a copy? |
| I would like to obtain it with no danger to my security. If you guys can help it would be great. Much appreciated.... |
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 Has anybody in the uk went to the bank? |
| and asked for their money back that has been taken of them over the years for bank charges? how did you go about it and did you get it back?... |
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 My friend has been audited by the IRS because he claimed 2 kids that wasnt his. Is he going to jail? $2500? |
Additional Details
accutally the kids and their mom was living with him. He was dating her for oveer a year and took care of them and they end up breaking up and the girl moved out of ... |
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 Is My BF Being Audited by the IRS? |
How can I find out if this is true or if he is lying? Any help welcome.
Additional Details
My biggest concern with this is that he is lying. I have paid for some things, but he has paid ... |
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 What should be done with W-2 of person who moved? |
| The post office delivered a W-2 to my apartment complex on Saturday which was addressed to someone who moved. I do not have a forwarding address. Someone left it on top of the mailboxes with a note ... |
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 Filling in Tax Returns in the UK ? |
| This is my first year being self-employed, and I don't know if I should be paying tax or not, also what is the best figure to put down because I've not kept track of all my earning recorded.... |
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 What happens if I don't include an employer when I fill out my yearly tax returns? |
| One of my employers has not sent me my W-2s. I don't want to ever see them again because of some bad experiences I had over there. What will happen if I don't include them in my tax ... |
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 IRS sweating me? |
| I've become the lucky chosen victim of an audit for the year of 2006. I think my donation deductions may have tipped them off or something. Anyway, they want proof of my deductions and ... |
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 I'm making $30 a week babysitting. Do I need a tax id # for the lady to report this on taxes? |
| I'm babysitting 2 days a week and making $30. I didn't know if I needed a tax id # for the lady I'm babysitting for to report this on her taxes. Can anyone help? Thanks!... |
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| If i earn money online do I need to claim it on my tax report? |
| If i earn money online (from my own website) do I need to claim it on my tax report (I'm in Canada)? 'Cause if I don't claim it, there's no way for them to find out how much (if ... |
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 Grandmother-in-law claimed MY son on tax. illegal? |
| My wife and I was divorced in November 2005. We never settled who would claim my son for that year, and I went to file an amended return for 2005 and I found out that my ex-wifes mother had claimed ... |
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guybee99 | How much do estate taxes cost? An old guy owns a house worth $700,000. How much tax will be due for him? |
state of massachusetts. 6 kids will inherit. do they pay or does dad's estate pay? |
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smonical
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On the federal side, no tax is due unless the estate exceeds $2 million. For Massachusetts tax, no tax is due unless the estate exceeds $1 million. |
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Steve
 |
In 2006 - 2008 an individuals estate has to be greater than $2,000,000 to be subject to estate taxes. Here is a link to some more info, http://www.smartmoney.com/estate/index.cfm?story=estatetax You can also find more info at the IRS website http://www.irs.gov
Before liquidating any assets, I would recommend consuling a tax professional that has experience with estate tax returns. |
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TaxMan
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Federal Estate Tax:
If all the decedent owns is the house, and they never filed a gift tax return, then there will be no estate tax paid by the estate. The people who inherit stuff never pay estate tax...only the estate does. Estates valued at less than $2,000,000 (for 2006) owe no federal estate taxes.
Federal Inheritance tax:
People who inherit stuff only pay tax on that part which they need to include in income. The only thing I can think of is retirement plans like Traditional IRAs and 401(k)s. The amount in these is taxed as ordinary income to the recipients. No additional 10% penalty is applied regardless of the age of the decedent or recipient. Everything else (cash, possessions) transfers to the recipient tax-free. The house will become the property of the recipient at the fair market value upon death. If the house is not used by the recipient, (if the people who inherit it don't live in the inherited house) and if the house is sold before the recipients move into it, then the house is treated like investment property. What does that mean? You may owe tax or get back tax depending on your profit or loss on the house. You take the sale price of the house and subtract its value when you inherit it, and subtract the selling costs (fees to realtors, fees on the HUD form), and subtract costs to visit and upgrade/prepare the house for sale. If you have a gain, you claim that as long-term capital gain. If you have a loss (most people do), then you can subtract that as a long-term capital loss.
State Inheritance and State Estate taxes are not something I am familiar with in Mass. Sorry.
Hope this helps :) |
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gracita s
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well it zero tax |
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acmeraven
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If the estate is being put through probate any and all taxes will therein be paid and the amounts paid to heirs will be non-taxable to them. |
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Snagelfritz
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If there no will the State get it! Ha!!! Well, actually it have to go through probate and the State get some money that way. Taxes will vary by State and I not live there. Here it can be $300-1000 per year on every $100,000 of home value per year, depends on County, City or Country home. The kids can pay or it can come from the Estate. Either way, debts will have to be claimed in a certain amount of time for them to be legit. Depends on who he owed and how much. Many have a Death Deal, where it paid if they die. TAXES WILL be paid........remember we never own anything, we just buy the rights to lease from the Government normally called Taxes, you not pay and they Repossess/Evict. |
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rockEsquirrel
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If that's All he owns, then maybe zero tax. However, that is not likely all that he owns. Estate taxes go up to about 50% |
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PsychoPsychoSarah
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Our house cost 54,000 and we pay 1750 each year for tax. It does depend on your area, though. |
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