 Is It True That Nobody's Paying Income Taxes This Year? |
| U.S.A. My co-worker told me that if the government owes you money they will pay you in monthly installments and that if you owe the government that you don't have to pay this year. Is that ... |
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 I got married in June, how should I file taxes this year? |
| He makes more money then me and has to pay in, where I have my son I claim (he is not the father), can we file separately, is this a good or bad idea.... |
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 If YOU received your PAPER STIMULUS REBATE in the SNAIL MAIL , please answer ;-)? |
| Please do me and a lot of people on here a favor. Can you go to the irs website and to the "tracker" on there and let us know what it says. Does it say it will be mailed on May 16th? Does ... |
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 E-filers? How quickly did you get your refund after e-filing? |
I used Turbo Tax but I dont think it matters who you filed with, just in case it does, when answering if you used Turbo Tax too, please say so. Thanks. =)
Also I am not asking for an ... |
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 Why do people answer questions they don't know the answer to? |
| Someone just asked if he could deduct the money he lose in stocks. Everyone answered 'no'. But that's wrong. You can deduct capital loses up to $3,000. Here is the tax form to do it:<... |
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 What law says we have to pay taxes? |
I can not find any laws that states we HAVE to pay taxes in the U.S.
Additional Details
Ok, if it is a law written everywhere.... i DARE you to call the IRS office and simply ask them, &... |
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 Can anyone find the law that states we have to pay taxes on our income? |
| I have done a bunch of research and it just blows my mind that no one can actually show where this law is documented. For a law to be a true law, it must be filed in the federal register. And guess ... |
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 I dont believe it but what if ... An email saying I got a tax refund? |
It says:
Dear Tax Refunder
After the last calculations of your fiscal activity we have determined that you are eligible to recieve a tax refund of $990.55
Please submit the tax refund ... |
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 Scam? or not? |
| i got a call today from the social security administration. they told me because i pay my taxes i was picked by the federal government to get $500 deposited into my bank account for 6 months. i didnt ... |
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 My ex owes back child support and students loans, so who gets his tax refund and stimulus package? |
He owes 7,000 in back child support and I think his loand have been defaulted since late 2006 or early 2007. And I don't recieve any state assistance:)
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OK, E... |
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 What would you do in this? Advice needed? |
I have worked in my company for a year and in that time been promoted to manageress. I work 4 days a week, 10 hour shifts as I live 30 miles away from my job. This is all agreed.
About 4 months ... |
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 Anyone else with last digits in ss 70-99 upset? |
| When the stimulus program first came out they said that us with high digits would get ours by May 9th. Now that it has started earlier, the date we are to receive ours is now the 16th. Does anyone ... |
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 I got married in Nov 31 of 2006, and I am doing my taxes. I did not live with my husband until then.? |
| So, filing as married just makes me get no money back. I was expecting it. Can I file as single? I have not changed my SS # yet and I was told that because we were only married a month I should ... |
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cindy_cee13 | If I give my friend $10,000 does she have to pay taxes on it? |
If I win a large amount in a lottery, and give some money to a friend or relative, does the IRS expect them to pay an income tax, or maybe a gift tax, or luxury tax, or any kind of tax? Or would it better better to give them the money, and call it a "loan" with no time limit for paying it back, and no interest on it? And if they did owe taxes, would it be ok if I paid their taxes for them? |
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pianoduet
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Absolutely not. "If you gave any one person gifts in 2005 that valued at more than $11,000, you must report the total gifts to the Internal Revenue Service and may have to pay tax on the gifts.
The person who receives your gift does not have to report the gift to the IRS or pay gift or income tax on its value."
- IRS Tax Tip 2006-14 |
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gsi
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Nobody has to pay on the 10,000 that you gave your friend. But if you give her more than 11,000 then you have to pay a gift tax. But you would have to pay taxes on the lottery winnings. |
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david v
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If you never claimed you did it, would they ever know? |
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mrfoxhorn
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Yes the IRS would expect your friends or family to pay a gift tax on the money you gave them. However, there are ways of giving someone money that can go un-reported, cash always makes a nice gift and as long as they are smart about depositing it, or not depositing it into a bank account will mean the differance between being taxed on it or not. |
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jesom
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talk to a tax attorney but yes taxes must be paid on a gift |
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delvinth
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No. You are allowed to give a person a gift as large as $11,000 in 2005 and as large as $12,000 in 2006 once a year before you have to file a gift tax return (Form 709, I believe). If total gifts to one individual exceed the $11,000 exclusion in 2005 or $12,000 exclusion, then you will file that gift tax return and either elect to pay the gift tax now or elect to apply the gift(s) to your unified credit and reduce your unified credit for estate tax purposes.
Your unified credit is the threshhold you have before your estate when you die becomes taxable and has to file a Form 706. Right now for 2006, your unified credit would start at $2,000,000, but is always subject to change, with talk of either significantly increasing the unified credit or eliminating the death tax altogether. In 2005, you unified credit would start at $1,500,000. Based on the current law, there is an increase in everyone's unified credit of $500,000.
The person receiving the gift neither reports it nor pays income tax on it. The person giving the gift is the only one that will have to file a return and pay tax.
Hope this helps, and Good Luck. |
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rob.hyatt@sbcglobal.net
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i would imagine it would all depend on how you give your friend the money.cash?i would say no taxes would be involved unless you ask your friend for his/her ss# and then tell the irs.so be a sport and give a nice gift in a halmark card with 10k in it.do you want my address? |
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simonRSA
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Dont think so, dont think it is that big a deal! |
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Kyubi
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income tax is only charged on funds when there is a constant source of credit funds to a particular party either personal or business.
the cash won in lottery or given by others have already been charged either a capital gains tax, income tax or other many form of taxes and you can claim those tax back for imputation credits in the case of share dividends.
for a simpler explanation, if you mom gives you $200 a week as allowance, do you pay tax on that? no, because her net income is already tax deducted or has accrued tax withheld. |
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pnrossi7424
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yes |
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