 Can't anyone who pays taxes & lives by themselves claim head of household? |
| I worked all year, pay all my bills, phone, rent, cable - went to H & R Block to file my taxes & she said I did not qualify for Head of Household. I know I did last year, why not this year? A... |
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 Help with Taxes!! Please!!? |
| I need to know what happens if you do not pay what you owe when you turn in your tax forms since an extension doesn't help that. I don't owe very much but I have absolutely no form of ... |
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 How long does it take to receive your Federal refund after you eFile? |
| I provided my bank account info... I'm just waiting for the cash.... |
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| I want to know if a law suit settlement is taxable or not? |
| The settlement received was net of the attorney's fees and was for emotional duress on a sexual harassment case. The case was settled out of court. The harasser is in prison under a non related ... |
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 Have a job and a business, any problem if I deposit a payroll check into my business account? |
| I work for someone part time and also run my own business. Is there a problem if I deposit a payroll check (taxes have obviously been deducted already) into my business account?... |
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 What can I claim? |
| on my taxes in america?...can I claim my groceries?..i save all my safeway receipts..... |
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 I dont know if i need to file taxes as a self-employeed web site designer? |
| i am a student and do this part time, i only made about $7000 last year by checks, i was told if i did not receive 1099 forms from the businesses i did work for, there is no record of my work sent to ... |
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 Who can claim my son? |
| My son (6 yr old) stays with me and is disabled draws social security. My husband and I are not divorced but have not lived together since 06. I did not work but I did draw unemplyment in 07. My ... |
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 What happens if you dont pay your taxes on time? |
| do they just throw you in federal prison on the 16th or what?... |
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 Someone checked there rebate by social security number somewhere - what?!? |
| Someone told my friend they were able to check on their rebate yesterday or today on some website (obviously not the irs website) and find out exactly when they'd get theirs and exactly how much ... |
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 Dhss loans uk? |
| were do i get a form from to fill in from the ... |
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| I haven't done my taxes... Today is April the 15th!!!!! 10 points!!!!? |
So I haven't done my taxes. I worked at Stake and Shake in 2006. They gave me my W2 form but I lost it. Now it's April the 15th 2008!!...
Will there be a problem with this?
... |
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 I owe on taxes this year..if I file, does a "bill" get sent to me? |
| I owe this year but am not sure how it all works. I was reading some information that said the federal government will send me information after I file. Because of the amount I owe, I may have a ... |
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 Should I have a company car.? |
| I have a company car, the car is available to me all the time and the company pay for everything including my private mileage. There is a tax implication on this, I have to pay £1100 per year in tax.... |
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 How does the IRS know if you get married or divorced? |
Additional Details
What if a single status was filed for many years and a marriage occurred recently (no name change for the sake of SS records)?... |
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 What is the best way for me to file federal income taxes if I am separated and I have 1 of my 2 children.? |
| I am wondering what is the best way for me to file taxes. I am separated and living in different house from my spouse. I have 1 of my 2 kids with me. Should we still file married jointly or married ... |
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Barrie N | I was told that President Bush passed a bill that eliminated Inheritance tax ...is this correct? |
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Dionysos Pint
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Sort of. The bill eliminated inheritance taxes for estates larger than $5 million. The tax remains for lesser amounts. |
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Judy1
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A president doesn't pass bills, congress (house and senate) do. But some years back, Bush pushed and congress passes a bill that increased the size of the estates that would be tax-free. Estates over $10 million still pay estate tax. |
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stephenweinstein
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1. Congress passes bills. The President does not.
2. There is no federal "inheritance" tax. There is a federal "estate" tax.
3. A bill was passed several years ago that reduces the estate tax for a period of several years and then eliminates it FOR ONE YEAR ONLY, after which it returns to normal. |
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v b
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And the one year (2010) that "eliminated" the estate tax had an extra clause in it that said the person getting an asset would STILL have to pay the capital gains in the asset. Right now, one gets a stepup value and there are no capital gains due if you sold the asset immediately.
So, your dad dies and leaves stock worth $1 million. He paid $100,000 for it 30 years ago. So it has $900,000 of capital gains built up. For 2008, 2009 and 2011, etc (but not 2010), the estate got a step up to $1Million and if the total estate was over the cap, paid tax.
For 2010, not estate tax, but the heirs who get the stock--or the estate when it sold the stock to give cash to the heirs--has to pay the LTCG rate on the $900,000. (The executor gets 1.3M of monopoly money to adjust values, but after that's used up all the gains are taxed. Don't know the basis? Can't establish the basis? It's ZERO.) Let me tell you, no one is going to want to be the executor of an estate worth more than $1.3M in 2010 if it's not all cash. |
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jonas_grant
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All other answers are incorrect. The bill increasing the size of the exemption - the amount exempt from the federal estate tax was passed years ago. It's set to expire in the next few years, and revert to the old, low exemptions of the Clinton era.
Bush and Congressional Republicans have put forth numerous bills to completely eliminate the death tax, or to reduce the rate, or to increase the exemptions, but the Democrats have managed to defeat all of these. McCain supported, Clinton, and Obama opposed, although Clinton supports a compromise, which is likely. |
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wartz
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There is not now nor was there ever a federal inheritance tax. |
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bostonianinmo
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No, it's not true. The Estate Tax exclusion amount will rise up to $10,000,000 through 2010 but unless the law is changed it will automatically drop back to $1,000,000 for 2011 and beyond. |
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Zodiac
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woudlnt be surprised. Yeha i heard something about that, didn't really care to much so I didn't listen, probably. |
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