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 Can my employer seize my personal goods?
Is it legal for a company to take your personal property? Example my job doesnt allow cell phones on the work floor. Do they have the right to take away my phone from me? They tried to do that the ...


 Why do i need to fill the W-2 form?
i worked at targed for about 2 months and i got an email saying to fill the form online, what do i need to fill the form for?
Additional Details
i meant why do i need to fill it!...


 I got married in june this year, but my wife's w-2's have her maiden name on them. got any tax-time help?
my wife has all the legality's changed: her social security card; legal name; etc. the only problem is she has not changed her name with her employer- and her w2's came back as her maiden ...


 Is it true that people who make over $90K a year don't pay social security taxes?
I have read two books recently (one published in 2003 and one in 2006) that said that people with $90K plus incomes don't pay into social security. Is that true, and if it is true, why?!...


 We had our first child in July, what does that mean for our income taxes?
1. Do we get some kind of a child credit now? If so, how much?

2. We did not change our exemptions, how much extra would 1 extra deduction translate into our refund?

3. I think I...


 Is there a way to not pay a penalty on my taxes for withdrawing a retirement fund?
I closed a retirement account to help pay off bills so I could reduce my debt to income ratio and buy a house. I know in some ways you can write this off on your taxes maybe if it was used for the ...


 How should I file my taxes?
My boyfriend doesn't pay taxes. Probably never will. If we get married, how can I file my taxes without giving red flags to the IRS about him? My taxes get taken out of my check so it's ...


 Could i sue the council over council tax arrears?
hi would it be possible to do the above ,my council waited thirteen years they never contacted us then when they did i was 14000pounds in arrears i know i have a responsibility ti pay but surely they ...


 Will Ireland ever truly be united?
Unity in Ireland possible?...


 What is the maximum amount of money that a person can make in one year and not have to file taxes. Is it $600?
...


 Is it true you have 3 years to file a 1099-misc form?
I was told that,and need to know if its true or not,
Additional Details
I received a 1099 from someone i worked for. He never took taxes out thats why i got the 1099. how many tears do i ...


 What are the Consequences of not paying my taxes?
...


 My boss says I'm an independent contractor so that he doesn't have to pay taxes for me. What can I do?
I am an insurance agent who works for an insurance broker. We have to be in the office from 8:50am-5:00pm. We are not given a lunch break and eat at our desks. We are told which companies to write ...


 How do I change my tax status from self employed to employed?
I'm no longer working for myself, and now have a full time job. But I am still registered as self-employed. How do I change this?...


 If i were to owe back child support can they take my tax rebate?
I don't owe it but my sister does. I don't have any kids
Additional Details
Ok so let me ask this... I don't know the amounts my sister owes but she is saying that even ...


 Are you really a pain in the neck to hang out with?
...


 How do i find my net income for each month?
...


 If i rent a house, can i somehow deduct some of that on my tax return?
basically, do i even report i pay rent or does it matter...i am going to start doing my own taxes and wanted to know if this is something i need to to add to a return for next year....


 If you have a judgment against you,can they deduct money from your tax returns to pay it off?
In New York state....


 What are the secrets to getting a big tax refund at the end of the year?
The nation's average return is $ 2,500 according to money.com.

http://money.cnn.com/200
Why am I only getting under ...



baby808
If someone wants to deposit a large sum of money into my account as a gift, will i have to pay taxes on it, or
the gifter(the one who deposit the money in my account?)
                     
 




Moni_freakwa
Rating
I agree with VB, the person who receives the gift NEVER has to pay taxes on it, but the gift giver may have consequences of his own.


v b
Rating
IF it is truly a gift, the gift tax is the responsibility of the giver.

If the money is for services, it's income to you.


ninasgramma
No, but if it is not a gift, be careful. If you accept the money and then pass it on, this is money laundering. The IRS keeps tabs on large deposits for this reason, and your deposit will be reported to the IRS and possibly set you up for scrutiny.


versantly
there are alot of variables associated with your question. talk to your CPA before accepting a large cash gift.


Sharon T
Rating
Don't let anyone deposit a gift directly into your account unless it is a parent or other VERY TRUSTED person. There are scams galore out there and it is never wise to give out your bank account information.

Anyone can give you a gift of $12000 per year and owe no gift tax. That means two parents can give you $24000 per year combined. Amounts over these limits are subject to gift tax returns needing to be filed. Any tax due is the responsibility of the donor.


circleof12
Rating
Yes.
Unless its your parent. They are allowed I think 25K as a one time tax free gift to each child.

Past that --- I do not believe so.


Real Deal Bruce
Rating
OKAY! Let's try to explain this one.If someone wants to deposit a large sum of money into your account as a gift. Should you have to pay taxes you ask? One of those things that make you go mmmmmmmmmmmmm.............
According to the IRS anything we collect of financial value, whether it be an item or funds. It should be reported, but ther are exception to the rules, only if the taxes on it has been paid for you on it already. If it is under a certain amount, but that may even be questionable. Now, there are other ways, but I can not tell you, because it may or may not be against the IRS laws or slide rule to what is accepted to this issue. The IRS does watch certain large of transactions with all banks, even more after 911. Consult with tax accountant, that would be my best answer for you. You don't want to tangle with the IRS.


Dorothy L
Rating
nothing is free there is something called a gift tax


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