 If you bought a car in 06...? |
| Is it true if you were financing it, you can write it off the interest when you do your taxes??? If so than i am LIVID ,and hate H & R block- Apparently thre is a whole bunch of things i found ... |
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 Is it filing IT Retruns is compulsary, even if I m not paying any tax? |
Hi ya,
Is it filing IT Retruns is compulsary, even if I m not paying any tax. My cousin's salary is about 1.5 LPA.Is he required to file his retruns (as he can show that 0.5 L as ... |
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| Claiming child on income tax? |
| this is going to be my first year that i claim my son. him being only seven months... my question(s) are, roughly, how much do you get per child... and recently my gf said that she is entitled to ... |
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 I intend to work 2 fulltime jobs. One I do now is at 15K, the new one is 18k. What tax will I be paying? |
Both jobs are web related, and the second is web based entirely.
Do I have to inform my current employer?
Do I have to inform my new employer of this?
What this might implicate?
T... |
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 My fiance has not paid taxes for 3 years now! WHAT TO DO!? |
| Okay so my fiance was a contracter for this company and was paid with a 1040 not a w-2. So we knew he was going to pwe taxes. Now we are having a real struggle with our bills. This year will be the 3... |
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 If I owe too much in taxes will the Gov. cut out one of my kidneys while I'm sleeping to pay it back?? |
Come on...you know this section is too serious... ;-)
Additional Details
Ms. Angel, dare i say best answer... (dare! dare!)
That's how I think the term Yankee was coined ... |
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 Would I or my father have to pay a gift tax if I give a $50,000 check to him from my savings? |
| The money was already taxed when I received it as income...does it get taxed again when I give it as a gift to my father?... |
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 Im confused i know there a lot of these but? |
| will i get my stimulus refund through direct deposit or paper check? because some people say if you filed turbo tax and had them take the filing fee out of your rebate you'll get a paper check ... |
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 How much will i get in this stimulis check? |
| i filed taxes for 2007 and made a bit under 30k and i am married with one child which is 17 months old how much money will i receive in this stimulis check? and when will i be receiving it?... |
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 How much will I get back on my income tax return? |
I made $17,272.14, and they withheld $1,953.32 on taxes. I am a unmarried Tennessee resident, filing alone. Approximately how much can I expect to get on my tax return?
Additional Details<... |
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 How long does a refund take? NOT THE STIMULUS CHECK? |
regular refund? we just filed regular no fast check thing.
we filed our return about april12. any idea how many weeks it should take? also no direct deposit.... |
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 What is a tax write off? |
| i was told if i donate my car it would be a tax write off. does that mean i get back the full value of the car when i file taxes this year?... |
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 Why should we pay taxes? |
| Is there any legal way to stop paying taxes? Besides it is voluntary compliance.... |
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 Will my $600 tax rebate be direct deposited? |
| The $600 tax rebate that will go to most beginning in May, will mine be direct deposited since I had my tax refund deposited? The reason I ask is because I'm moving end of April or beginning of ... |
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Dontay W | Is it illegal to claim dependents during the year on your w2, if youre single with no kids? |
I have paid an huge amount of taxes already this year due to a few lump sum payments and i want to maximize my weekly earnings for a couple of months. I have claimed zero for the first six months of the year. |
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searching_for_key_largo
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There is a section in the Income Tax Law that says it is illegal to claim dependents that you do not have. In fact, it is also illegal to claim way too few when they 'gap' {money back, etcetera} is considered overly large.
If you claimed zero for the first months of the year, otherwise have figured out that you will be more or less in average range {not too much/not too little, either way owing or getting back} then refile the W4 with your employer to show "Exempt" which will let no federal taxes be withheld. By the way, that does not change your state tax details, so that is a totally separate issue. Afterwards, say next year, you would be much better off filing more in line with your actual status.
The tax tables have not been updated for some time, so it is usual that a single person take their own deduction then one extra {to make up for the old tables}; that should allow you to be within a small area {say a couple or so hundred dollars} either way {paying or getting back}. If you want leeway for unexpected events of whatever kind, then take your own deduction but skip the extra one.
There are sections to deal with income issues {one way or the other} that do not have to do with dependents. Claiming more dependents is illegal. Having the extra financial considerations {two jobs, just married/divorced, etcetera} have their places in the form{s}, however.
The way you are going about it now you are basically making the government an interest free loan of your money. You would be better off making your deductions fit truer and putting that 'extra' money in a savings or other account. |
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Judy1
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During the year you claim the allowances on a W-4, not a W-2. The W-2 is the form your employer gives you at the end of the year showing your earnings and deductions.
As long as you are going to come out close to even with what you owe at the end of the year, you can claim more allowances than you have dependents. |
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slf_made
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You can change your withholding allowances. It doesn't mean the same as claiming dependents. Just fill out a new W4. No problem. Yes, it's legal to change the withholding allowances. As long as you pay in a certain percentage of your taxes, you won't be penalized for underpayment. That doesn't seem to be your problem.
If, on your tax return, you claim dependents you don't have, then THAT would be illegal. |
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ninasgramma
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If you are receiving lump sum payments that raise you to a high tax bracket, you should just stick with zero allowances on your W-4.
It is not illegal to claim allowances on your W-4. However if you severely underestimate your taxes, you will be subject to penalties when you file your taxes. The IRS can also force your employer to withhold at a higher rate if you are playing too many games with your withholding. |
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Jss
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It appears that you are taking about allowances on your W4. Dependent is someone who is dependent on you.
You can claim 1 or 2 allowances on W4.
Read: http://taxipay.blogspot.com/2008/02/filing-w4-employees-withholding.html |
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bob and dolly k
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you claim dependents on a w4 not a w2. you can claim what you want during the year as long as you claim the right amount when you file your taxes and have the money to cover your tax liability. |
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John Scott
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It's not illegal, but you'll be hit with an estimated tax penalty if you don't prepay the lesser of 100% of the tax on last year's income tax return or 90% of the tax on this year's return. You also run the risk of not having the money to pay your tax liability come April 15th and therefore will be subject to additional penalties and interest. |
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Brooke W
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Uh, yeah, def illegal. |
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Daniel N Erasmus
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Don't do it. Yu will have committed FRAUD and can be sentenced to jail time for this. Rather find other legal ways to minimize your taxes. Go to your local library and see what tax books on tax planning they have. There are many. |
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