 What is the best way to teach myself how to do my own taxes? |
| I am not going to take a course right now but i would like to know some good books or online resources.... |
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 What happen if I claim 11 Children as dependents when I do my Taxes ? |
I do not have 11, just 2.
But many anglo-people lie and gety away with that!
If I do it, Is it a felony?
Will the IRS police know?... |
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 Am I in the higher tax bracket if I am earning 35K per year?, how much will I get/be taxed per month? |
Hi,
recently got a new job offering 35k per year, does this mean I will have to pay the higher tax rate? its not how much will I bet getting after tax per month?
Thanks
... |
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 Just did my 1040ez and it says I owe, but this doesnt seem right?!?!? |
I made $13,647.34 (my AGI).
I am single, and am dependent on myself; so my deduction is $5,350
Taxable Income: (Income - Deduction) = $8,297.34
Federal Income Tax W... |
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 Do u think its right to recieve child benefits, regardless of their income? |
Additional Details
do you think it is right that all parents recieve child benefits, regardless of their income?... |
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 If you were scheduled to have your stimulus check mailed by July 4th, have u recieved early yet? |
| I know some people that recieved their checks earlier than the date scheduled on the IRS website. Mine said it will be maile dby July 4th. I called IRS and they said that they would mail it out June 2... |
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 Working from home (UK)? |
| I have a full time job as a designer in repro studio for a litho print company and automatically pay my taxes and national insurance. I also have a computer and setup at home to enable me to produce ... |
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 Tax Exemptions? |
OK I just moved to the U.S. to be with my wife & daughter and I have NO idea what so ever about taxes etc..
I recently started a new job (my first in the U.S.) and my co-workers ... |
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 IRS filing and tax fraud? |
| Where do I start. Let's see, I did an estimate of our taxes on HR Block.com and the result was that we owed $285.00. My husband was very upset. We did it Married but separtely and we came out ... |
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 Just an opinion. do you think that native americans should have to pay taxes? |
| i mean they were here before the u.s. and were basically slaughtered and whatnot. lucky to still be alive for sure. we live on land that was stolen from them and although they have casinos now that ... |
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 Why do people? |
| Why do people take all these questions so seriously.Sometimes I post idiotic questions So I can get funny responses Lighten up folks not everything is so serious.... |
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 What do do if u owe taxes and never filed for 4 years? |
| my bf filed taxes and owed money to the govt and now has not filed his taxes in about 4-5 years. What will happen. Can he file now and start to repay now. Does he need to get a lawyer involved? H... |
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 Is it legally okay for a single person to claim more than one exemption if he/she has no dependents? |
| I want to reduce the amount of income that is taxed each month because I always end up with a large refund at the end of the year (I live in California).... |
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Jenny D | Owe the IRS 80,000 in taxes. Cannot pay! does anyone know if you can file chapter 7 bk in the state of Ca? |
MY HUSBAND AND MYSELF ARE BOTH IN THE RE AND MORTGAGE INDUSTRY. NEED I SAY MORE ?ON TOP OF EVERYTHING ELSE WE FOUND OUT IN MARCH WE WERE BEING AUDITED! SO WE HIRED AN ATTORNEY WHO PERFORMED THE AUDIT WITH THE IRS...NEEDLESS TO SAY WE CAN NEVER GET A HOLD OF OUR ATTNY AND WHEN WE DO ALL HE SAYS IS DONT WORRY. WELL WE GOT A BILL IN THE MAIL FROM THE IRS ON SAT SAYING WE OWE 36K THEN FOUND OUT THEY ARE DIGGING INTO 05! SO...I AM SURE WE WILL OWEAPPROX THE SAME FOR 05.
WELL....WE CANNOT PAY NOT SURE HOW THAT WILL WORK OR WHAT KIND OF PAYMENT PLAN THEY WILL DO! ANY ADVICE OR IDEAS ?OR ANYONE WHO KNOWS WHAT THE IRS MIGHT DO AS FAR AS PAYMENT ARRANGEMENTS OR...ADDING THEM TO OUR CH 7 BK???
I NOW HAVE SHINGLES OVER THE STRESS ,WE OWE MY PARENTS ABOUT 32K,WE ARE BEHIND ON OUR PROPERTY TAXES BY ABOUT 15K,OUR HOUSE INVESTMENT PROPERTY FORECLOSED AND WE ARE NOW BEING AUDITED AND FILING CH 7 OH!! AND WE HAD TO FILE AN EXTENSION ON FILING FOR 07! WE STILL HAVE OUR CARS,SOME DEALS,OUR MAIN HOUSE |
 |
 
wartz
 |
I am an enrolled agent practicing in California and have an extensive background in collection related issues.
If you filed bankruptcy, you would have to schedule all your debts, including federal and state income taxes. Don't forget the state; it will piggyback on the IRS audit.
Taxes for the years 2004 and earlier that have been billed for at least 240 days would be discharged by a liquidating bankruptcy except if there was a filed tax lien that attached to exempt assets. Taxes due for 2005 forward would survive bankruptcy.
You could file a Chapter 13 plan and propose a plan that would pay the tax and interest but not penalties over five years. You would have to be able to generate enough income to make the payments or this won't work.
If you can pay the tax liability in full, IRS will set up an installment agreement based on your income and allowing expenses based on its expense standards. You don't state where you are in California or how many people are in your household so I'll speculate you are a household of two in one of the more populated counties. IRS monthly allowable expenses for this size household are $951 for food, clothing and general household maintenance, between $951 (in Modoc County) and $2,961 (in Marin) but generally somewhere between $1,800 and $2,200 for housing and utilities, $489 (each) for up to two car payments, $422 for gas and maintenance, actual costs for taxes, health care and court ordered payments (like child support).
If you are unable to pay anything now without causing hardship as defined by IRS, the account can be deferred until things improved.
Taxpayers who will never be able to pay the liability in full can make an offer in compromise if they offer what IRS is satisfied represents the reasonable collection potential of the account.
If you want additional information outside this forum, you can email me through my profile. |
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Judy1
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Filing bankrupcy won't wipe out IRS debt. You might be able to file an offer in compromise and have it accepted - you should have a CPA or enrolled agent do that - it could cut down on what you owe if it's obvious you can never pay it all, but if you still have some assets, the value of those would be taken into consideration when the IRS decides whether to accept the OIC or not - most are not accepted. They include the value of your assets when calculating the amount you are able to pay.
They will set up a payment plan. |
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Marty B
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I'm an Accountant in Ohio.. you should file form 656 offer in compromise with the IRS... got to www.irs.gov and search this form then print out and read over how to file. it's not that hard... try it! |
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they call me butters
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Look at it this way, free room and board for approx. 30 years, can't beat that. And when you get out, all those problems will be gone. Oh, by the way, your attny. will probably own your house, by then too. |
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Ms. Angel..
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Never type in all "caps" that means you are yelling and we are not at fault for your problems, you two did it to yourselves.
Now the best thing to do is contact IRS at 1-800-829-7650 and talk to them about working out a payment plan, IRS will let you know if they can work out and installment agreement or refer you to Offer in Compromise.
But call and take care of it, it makes it worse when you ignore the IRS and then they demand full payment and start issuing levy's and liens. |
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americanfreeman
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1) Typing in all caps is very RUDE
2) You cannot get out of taxes by fiing bankrupcy..they stay with you.
3) With that much owed taxes and for several years, I would be more worried about how many years I will be spending in JAIL for tax fraud. |
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John Scott
 |
Yes, you can file chapter 7 in any state. However, there is a means test that is required which may mean you have to file chapter 13 instead. In any event, be sure to include whatever IRS debt you currently have in the bankruptcy. Even though it may not be discharged, you will be protected from collection action while the bankruptcy is in effect. If you file chapter 13, you may be able to amend your plan to include the 2005 audit and any balance from 2007. Otherwise, you may be able to enter into an installment agreement for the post-petition assessment(s).
If you file chapter 7, it will likely be completed in about 4 months. At that time you can enter into an installment agreement for your balances. Due to the amount owed, you will be required to give a financial statement which will determine your ability (or lack of ability) to pay.
As for an offer-in-compromise, it can't be done while you're in bankruptcy, and if the financial statement shows any ability to pay it's quite unlikely that an offer would be accepted. |
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jojo
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You cannot file bankruptcy on federal taxes, you will have to work with them on payments. That is your only option. |
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Fangthane
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At this point, you're better off moving to Canada or Mexico. Once the IRS sets its sites on you, your chances are pretty slim. They will garnish your wages unfairly and give you nothing to live off of.
Here are some tools that may help ward them off: www.the7thfire.com/debt_elimination or
http://showedthelaw.blogspot.com/
If I were you, I'd invest in a shotgun and a "No Trespassing" Sign. |
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