 Can you rollover a 401k to an IRA and then take a distribution without paying taxes? |
| I am leaving my job and want to use a portion of my 401k savings in the meantime. I was told that there is a way to roll the money into an IRA and then withdrawl without penalty. This seems odd to ... |
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 If a minor has a job, do they still have to do taxes? |
| i work in a company where i get always get taxes from state (California) and federal but i've only been there for 4 months, its my first job, should i still have to do my taxes in 2007??... |
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 My husband and I have no children(yet) and are renting a house, what can help us to not pay a lot for taxes? |
| My husband and I don't have children(I am however currently 11 weeks pregnant). We are renting a house, that is under my fathers name, but due to the economy we have not been able to change my ... |
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 When the Uk reclaims soveirgnity over the US later this century should we charge them for the tax due or what? |
i mean its a hell of a lot of tax missed right, the inland revenue must be rubbing their hands like hell.
Additional Details
hmm funny i thought we just finished paying our WW11 ... |
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 If I sell my house to build a new house do i have to pay capital gains taxes? |
| This is the first house I have owned and we have lived in the house for four ... |
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 Received a Form 1099A - Do I have to do anything with it? |
| Last year I lost my house due to extended unemployment, the home was foreclosed on in April 2006. I just received a Form 1099A and have tried looking on the IRS site, but no luck. Do I need to ... |
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 Taxes without my daughters social? |
| I had my daughter back in October. Tax season is coming up and I heard I couldnt claim her without her SS number. Is that true? The hospital usually files for it, but someone misplaces paperwork, ... |
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 Are mechanic's tools tax deductible? |
| My husband started working for the City of CC and of course being a heavy equipment mechanic one must have their own tools. He has purchased several items adding up to almost $2,000. We have saved ... |
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 I need 50k in one year (after taxes)? |
How do I get this amount of money? Any ideas!
Additional Details
I am willing to work....and open to work but it is important that I have 50k by the end of this year....... |
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| We're married, filing tax return jointly. New this year: daughter has a new job.? |
Do we 1) include her $6000 income and withholdings on our return?, or 2) have her do her own separate return for her $6000 income and withholdings? Is option-2 correct?
Thanks!!... |
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 Does a senior citizen have to claim rent as income that he gets from his daughter if less than $150/month? |
| My uncle wanted me to check this out for him. His daughter is over 30 and living at home and pays 150 a month rent to him. He was on a disability pension before he turned 65 and up til that point ... |
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 Tax and national insurance?? |
| i resigned from my job 6 weeks ago, since then i have been looking for another full time job but have not been succesful yet, i do not want to sign on the dole but do i have to tell the dole office ... |
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Rich H | There is a provision in the U.S. tax code that absolves one from all tax liability for life. Cant find-HELP!? |
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bjlevine
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This "provision" you speak of is a mis-interpretation of the code itself. There's an scammer named Irwin Schiff who has been selling this idea for years on the website listed under the "sources." However, he's been proven wrong at trial EVERY SINGLE TIME. He has been fined and jailed, and his funds are constantly garnished. Others who have followed his example have met similar fates.
All the while he claims he doesn't "pay" taxes. That's true. His taxes are taken from his accounts by the government directly. He doesn't physically pay them or have them withheld. The government seizes them from him periodically because he doesn't pay.
If you attempt to file a tax return using a system like this, you will find yourself the recipient of a nice penalty and fine. Your return would not be considered a legally valid return, and you would be hit with failure to file and failure to pay tax penalties, plus interest on the money owed. It's tax evasion, and you could even go to jail for it. Please don't do it. |
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pshdsa
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Doesn't exist because if it did it would take the nation by storm. The IRS would get no more money. You know that will never happen. |
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ny2fl
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this is an urban legend. no such law exists. |
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deb in ohio
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if your a charity. |
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rob_badboyal
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There is no provision that absolves any individual from all tax liability for life. If an individual has taxable income then they have a tax liability.
Also, while a charity may be tax-exempt for most purposes, even a charity or "not-for-profit organization" can be subject to the UBIT (Unrelated Business Income Tax) if they have income that is not directly related to their charitable purpose. |
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Just Me
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Yes..it's called death |
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motivationalspeaking
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I am free of income taxes for life, legally! The IRS tried doing what they could to me, and that consisted only of them trying to scare me. They could do nothing because I was staying within the bounds of their laws and codes. There is an extensive process that I had to go through, and I was able to do so with the help of a company that consist of some federal attorneys and paralegals that know the IRS code inside and out and know that most Americans are being scammed into paying an income tax that they have no liability of. There is so much information to look through on their website. There you will be able to find out if you are truly liable for an income tax. It is truly awesome; I can vouch for it as well as several other that I know have done the same. |
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Paul in San Francisco
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When you die, you are absolved from tax liability. Any tax liability incurred while you were alive becomes a liability of your estate, so you're off the hook when you die. |
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