 What is the MINIMUM amount you can make for the year and be required to file taxes? |
OR what is the MOST you can make and NOT have to file? (same difference)
also if you dont file this year...would it be possible to file for both your 2005 and 2006 taxes next year?
<... |
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 Do singers/actors/model have to pay IRS taxes? |
| Do famous singers/actors/models/perfumist/fashion designer, etc. have to pay IRS taxes from their monthly paychecks too? or are their taxes already payed through the products(CDs, DVDs, cloths, etc.) ... |
|
 Tax help. I'm divorced but was married ALL of 2006...? |
| From what I understand we are required to file married not single....right?... |
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 When do i start paying income tax? |
i'm 17, studying, no job.
i'm applying in FAFSA and they're asking if i filed a 2007 IRS income tax return.
i said no, will that affect my eligibility?... |
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 How much tax do we pay on a product in canada? |
| for example, lets say we buy something that is $80. then how much will we actually have to pay after GST, etc. is considered. thanks so much!... |
|
 Why Do People With Kids Get Tax Credits...? |
| Why Do People With Kids get Tax Credits....?***SERIOUS QUESTION***.....wouldn't it makes more sense to give people who DON'T have kids tax credits as a incentive for not pro-creating and ... |
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 I am a first time income tax filer and I need some help? |
I am 19 years old. My dad claims me as a dependent.
In 2006 I earned:
$3,708.17 in wages.
$2.99 in interest payments
$26.04 in dividend payments.
$608.06 in ... |
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 Does my spouse's accountant need my SSN if she lives in another state, considering we are divorcing? |
| While divorcing we file married filling separate. She asked me for my SSN for her tax purposes and I dont want to provide it. What options do I have?... |
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 My work I used to work for (last year or so) never sent me my tax papers, what do I do? |
| I talked to corporate and they told me they sent them out but it's already FEB. 10th. Now lets say I don't get it, what happens? I Don't get in trouble for there faults for me not ... |
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 What percentages of our incomes go to taxes ? |
| It crazy.. Income tax, property tax, taxes on all your fuel and purchases... what percentages do average people pay ... do they get to spend any of there ... |
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 What do you do when you're at the absolute end of your rope? |
| There are a lot of things going on right now that I don't feel I can handle - but what really has got me down right now is that my brother came over tonight to do my taxes with me and I found ... |
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| Can my bf claim our son on his taxes since i do not have to file? |
| obviously we arent married and because of that i am the primary parent. we do live together and i dont work just go to school full time so i dont have to do taxes and this has been a big question ... |
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 Is the earned income credit fair? Doesn't it reward taxpayers that only work on a part-time basis? |
| Is the earned income credit fair? Doesn't it reward taxpayers that only work on a part-time basis? What might be a better solution?... |
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 Can I combine W2's from different years? |
| I didn't file taxes for 2006 but I will for 2007. I am entitled for a refund for both years. Can I just combine my 2006 W2 with my 2007 W2 to get the refunds at the same time?... |
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 If an income tax return was not filed and some money was ? |
owed to the IRS,[not a very large amount,but more than i had]can it be
handled fairly easy and cleared up without severe consequences?... |
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yeah!!! | 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 have to file that? |
 |
 
Judy1
 |
Nope, not true that you have 3 years - you were told wrong. You are required to include it on your tax return for the year you made the money, which should be the year on the 1099. The return is due by April 15 of the next year. If you don't file, or don't include the 1099 income, the IRS will send you a bill eventually, and will include interest and penalties. It can take as much as a couple years before you receive the bill, and by that time the interest and penalties could be substantial. |
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bostonianinmo
 |
No, you do not. You must file your return by the filing deadline and pay any taxes due by that deadline or you will be facing penalties and interest for late filing and late payment. |
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Mathew
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That depends on what you mean by "file a 1099-MISC form". You are required to report the income that appears on a 1099 MISC form you receive in the tax year that you receive the income.
Under different circumstances if you were to discover that your Schedule C, was prepared incorrectly, and you should have provided a 1099-MISC to someone who provided services to you. That would be an expenses that reduced you taxable income and therefore reduced your tax and gave you a refund. You would have three years to do that and still get a refund. You would send the 1099-MISC to the IRS with a 1096 form and also send a copy to the person that provided the services. That person is not going to be real happy with you nor is the IRS but you may get the refund. |
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Wayne Z
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If it was for 2006 income, you had until 4/17/2007 to file.
When you file, you are supposed to include ALL of your income. Not just the ones that give you a nice refund. |
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MukatA
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1. No it is not true. And this mistake on your part may result in interest and penalty.
2. About three years limits.
(a) If you expect a refund, you must file your return within 3 years of the last date of return otherwise you won't get the refund.
(a) If you file a return, the IRS has three years to assess any tax that you owe.
3. Now it depends upon what kind of income was reported on your 1099-MISC. It can be
line 1 -- Rent
line 2 -- Royalty
line 3 -- Other income
line 5 -- Fishing boat proceeds
line 6 -- Medical and health care proceeds
line 7 -- Non employee compensation
line 8 -- Payment in lieu of interest or dividend
and many more miscellaneous incomes.
4. If it was the Non employee compensation, then it is the independent contractor income which is subject to 15.3% self employment tax. Normally, taxes are not withheld from this income. You were even required to pay estimated taxes.
So if you have not yet filed your 2006 income tax return, don't waste a single day, and file as soon as possible even you expect a refund. Only when you complete your return you will actually know if you owe taxes or will get a refund. |
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what
 |
When you say file the 1099-MISC, it makes me think you hired some one, and are sending them there 1099 earnings late. You can be penalized.
If you received it late from someone you worked for, you must now file it, and file a 1040-X (amended return).
If it is the only income you had, no other W-2 income, you do have to file it quickly. If you don't file it, and you have any income from it, you will pay penalty and interest on the amount you can't right off.
The IRS can come after you for seven years. After that it is history, and they can't. |
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PepsiLime
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Which way are you asking for? Filing a tax return from having received a 1099-Misc or for giving someone a 1099-Misc? Either way, you're supposed to take care of it by January 31 of the year after that the 1099 is for. For example, a 1099-Misc for 2006 would need to be issued by January 31, 2007. |
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Darby
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I do not know. Go to IRS.gov or talk to an accountant or look on the instructions of the 1099. I really can't see how that is true, because a 1099 is something that is provided to someone who received money from you, such as cash rent. The recipient needs the 1099 so they can file their income taxes. I guess I'd report my cash rent whether I received the 1099 or not, but it just kind of closes the loop, so the Feds and State can ensure that the recipient is reporting the income and paying taxes accordingly. |
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