When you but a a second hand car from a dealer,why do they add vat to the price when? |
vat has already been paid on the car when it was new?
and if the same /other dealers sells the the same car again and again ,vat is still charged
RIP OFF Britain !
it seems to me the ... |
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Why don't we get rid of the SALES TAX and start a good ol income tax. Then the rich will have to pay.? |
| What does a punity sales tax mean to the income of the rich who pay no income tax. (Florida and maybe more? ) Sales taxes really hurt the low and middle income people and mean nothing to the rich. (A... |
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Has anyone recieved a paper stimulus check?????? |
has anyone recieved a paper stimulus check yet ?
who's info on the IRS web site says it will be mailed on may 16th? Additional Details MEGAN Z
i am sorry but you are ... |
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We used hubby's 401k to payoff house, car and land. Is any of this deductible on income tax? |
| Company merged and decided to withdraw rather than rollover. Knew it would be subject to 10% penalty but thought it was better in long run to pay everything off. Now trying to find ways to reduce ... |
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When will w2 forms be sent to california? |
| when will w2 forms be sent to california?... |
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What is the day you are allowed to start filing taxes forr 2008 tax season? |
| I am wondering if you may filing as early as Jan 1 or if you must wait until a certain date, and if you do what is the date. Thank You to all who answer.... |
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Can settle a tax question as to why the rich seem to pay less taxes than the rest of us? |
I say they pay less because they spend more money overall
My friend says they pay less because there are more middle/poor class taxpayers than rich taxpayers.
Who's right ... |
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Tax credit overpayments please help! My husband died suddenly Aug last year and had 10k overpayment debt? |
he was off work for 1 year after extensive brain surgery and when he returned to work I informed the IR on his behalf. He was already
3K in overpayments for 03/04 but they have continued to pay ... |
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How far back can i file for taxes? |
| My father is now 61 years old and looking into retiring but his payment according to the earning statement would not be so high. So i started looking into it and i realized he didnt file taxes from 19... |
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Does HR block really try hard to "Maximize" you're return? |
| I've never been to a tax prep service before, but this year i think id like to just go so i can see if i have been missing anything that i could be deducting... I know turbo tax and all that ... |
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HELP WITH TAXES PLEASE!10points? |
| I am about to enter a job as an independant contractor. I was told that I must send a payment into the irs every three months or I will be penalized more money. How do I figure how much to pay? Can ... |
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Do you ever have to stop filing your taxes? |
| My grandma has this idea that she doesn't have to file taxes anymore because she is of a certain age. I don't even know when the last time she filed was. She only collects social security ... |
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When do you have to pay taxes on capital gains? |
| Let's say I put 50k in a stock and it doubles and I sell it. Now I have 100k, but I owe taxes on 50k. Let's say I sold the position at the beginning of the calendar year. Can I wait ... |
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Questions on rebates checks? |
I CLAIMED ONE CHILD AND MADE $1091.00 HEAS OF HOUSE HOLD. SO HOW MUCH WILL I GET BACK ON REBATE CHECK. I RECIEVED A LETTER FROM THEM SAYING ABOUT WHEN THEY WILL COME OUT. BUT DIDNT SAY HOW MUCH. <... |
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I paid £2200 a year in taxes for over the last 12 years...? |
| I am Spanish and I have decided to move back to Spain..Will I be able to get all that money back from the inland re if I move to Spain??... |
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Chuck ♥ Blair | What happens when two people file the same kid on their tax return? |
I know these two people who are fighting over who gets to file the kid on their tax returns. What if one of them files first, and the other tries later on? What will happen? Will there be an investigation to see who should really be able to file the kid or will they just tell the person that someone already filed that kid? Please tell me. |
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nova_queen_28
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Whoever files first will get the refund for that child. At my tax office, the second person's return wouldn't be accepted until the child was removed from their return.
BUT this is not the end of the story. If the person who files second - and didn't get the deduction for the child - was the one who rightfully was supposed to claim the child, they can 'do battle' through the IRS to show that they should have been able to claim the child and the first person was NOT supposed to claim the child. This gets the first person into trouble with the IRS, too. |
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kidd
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It doesn't matter who files first.
Generally, the parent who has custody of the child for the greater part of the year can claim the child as a dependent on the federal income tax return. There are several exceptions to the rule, such as the custodial parent releasing his or her right to the child’s dependency exemption or where there are multiple support agreements. For more information, pick up IRS Publication 504, Tax Information for Divorced and Separated Individuals.
In taxes, we have to have a custodial parent, even in a shared-custody divorce. You are the custodial parent if, during the year, you have custody of your child longer than your child's other parent has custody.
Alternatively, you could be considered the custodial parent if the divorce decree identifies your home as the child's legal residence. Since custody rules differ from state to state, often an attorney is needed to assist in deciding which parent would be considered the custodial parent for federal tax purposes. |
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Judy1
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It doesn't matter who files first, but rather who is entitled to the exemption. There are some pretty specific rules on who can claim a child. If there's no written agreement to the contrary, the exemption goes to the person whom the child lived with for more than half of the year in question. Amount of child support paid by the other person doesn't matter in determining who gets the exemption.
Download publication 501 from irs.gov for more detailed info. |
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yvonsel
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Doesn't matter who files first, you still need to show IRS proof of support, bills etc if you claim the child as a dependant. Unless agree on in court ( court mandated order) the primary custodial parent will receive the tax break. If both parties try to claim the child Uncle Sam will eventually find out and he won't be very happy about it. The person who tries to file illegally will be audited and then fined if caught. If you don't beleive me ask my ex-husband...! |
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Richard W
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I can only assume they are divorced.
Sometimes the decree says who gets to claim them.
Otherwise, whichever parent supplys over 50% of the support gets to claim them.
In most case's, it is the parent they live with, but that is not set in stone.
If one parent is found to have claimed them in error, they would have to pay back any tax benefit they received by claiming the kids, plus penalties and interest. |
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STEVEN F
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Only one has the legal right to claim the child. The other is guilty of tax fraud. it makes no difference who fills first. In the case of divorced parents, the normal rules for claiming a dependent are applied to both parents collectively to determine if either can claim the child. Neither parent has to provide 50% of the support as long as both together provide at least 50%.
If the two together meet the requirements to claim the child, there is a separate set of rules to determine which one can claim the child. In general, the custodial parent claims the exemption unless a court order or written agreement specifies otherwise. It doesn't matter which parent provides the larger share of the support. |
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Support Our Troops
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whoever has had the child longest more then 6 months living in home will get to file and if both file yes thier could be an investigation even charges of tax fraud |
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tonalc1
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Whoever files second will not only have to pay the money back, but will pay a fraud penalty.
However, you didn't elaborate on the situation. Are they living apart with shared custody? Are they together but filing separately? It makes a difference.
Go to http://www.irs.gov for info. |
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Joanne J
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First of all most people who pay child support think that gives them the right to automatically file the child on their return..Wrong. It's the person who has custody, although arrangements between the two parties can be made to take turns, or if unable to agree sometimes can have court determine the right to file every other year. If both have joint custody then the parent who contributes the most is the one who will file.
The custodial parent has the right to claim the child as a dependent unless that right is released to the noncustodial parent. If released, the waiver needs to be in writing, signed, and attached to the noncustodial parent's return. The waiver can be for one year, permanent, or any other way you want to do it. Form 8332 is the official IRS waiver, but you can also write up your own waiver and use it as long as it spells out who gets the deduction and is signed by the custodial parent. One item to note is that the custodial parent still has the right to claim head-of-household status, the earned income credit, and dependent care credit even though they have released the right to claim the child as a dependent. However, if waived, the noncustodial parent claims the $1,000 child tax credit along with the dependency exemption.
When can you claim your child as a dependent? If your child is younger than 19 at the end of the year (younger than 24 if a full-time student) and receives at least half of his or her support from you, then the child is a dependent. You can still claim your child as a dependent regardless of age if he or she has less than $3,100 of gross income and you are providing support. In considering whether you provide half of your child's support, factor in the "free rent" he or she receives from you if still living at home.
If you are the non-custodial parent and want to claim your child as a dependent, get Form 8332 signed before the divorce is finalized.
The custodial parent has the right to claim the child as a dependent unless that right is released to the non-custodial parent. If released, the waiver needs to be in writing, signed, and attached to the non-custodial parent's return. The waiver can be for one year, permanent, or any other way you want to do it. Form 8332 is the official IRS waiver, but you can also write up your own waiver and use it as long as it spells out who gets the deduction and is signed by the custodial parent. One item to note is that the custodial parent still has the right to claim head-of-household status, the earned income credit, and dependent care credit even though they have released the right to claim the child as a dependent. However, if waived, the non-custodial parent claims the $1,000 child tax credit along with the dependency exemption.
If you are in a higher tax bracket than your ex-spouse, modifying agreements to re-characterize payments as alimony would bring tax savings that could be shared by both parties. Child support is nondeductible by the payor, and is not included in the taxable income of the recipient. Alimony is the exact opposite, the payor deducts the alimony payment, and the recipient includes the alimony as income on his or her tax return.
If you are legally required to pay any medical expenses for your ex-spouse, deduct the expenses as alimony instead of on Schedule A as an itemized deduction.
If you do not have custody of your child, you can still deduct your child's medical expenses on your tax return if you are the one that pays the medical expenses.
In the absence of a written agreement, the general IRS rule is that the parent who has the children for the longest part of the year is entitled to the exemption. (26 U.S.C. Section 152.) This usually means the mother because she most often gets primary physical custody.
But if the father furnishes over 50% of the child's support, he is entitled to the exemption. He must file with his tax return IRS Form 8332, Release of Claim to Exemption for Child of Divorced or Separated Parents, signed by the mother. If the father claims the exemption without filing this form, he may have to prove that he furnished over 50% of the support for the kids if the IRS questions his return. That can hold up the money while being investigated! |
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nectar_pepsi
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THE BLACK HELICOPTERS ARE ON THEIR WAY. |
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Louise
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If both parties file the same chid the person who filed second will be responsible for paying what they recieve back to I.R.S |
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elizabeth
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What if the husband does file and he doesnt have custody of the kids. What can the lady do then, if she can prove that they lived with her and she has temporay custody of the kids. |
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2010Camaro
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We have had full custody of my step-daughter for 14 years. We have claimed her on our taxes since her birth. In 2008, her bio mother decided to claim her. It has taken over two years to straighten it out. The IRS told us that we did not have the right to claim the daughter. (They automatically assumed that the bio mother had custody). After numerous threats of leins, we finally got the IRS to send us the refund! |
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Jenny05
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We have 40% custody of my stepdaughter legally. Her bio mother has claimed her on her taxes for the last 5 years, even though we had an agreement to claim her every other year. We have never fought it before, but are furious that she claimed her again this year when we should have been the ones to do so. My husband is the non-custodial parent and as I said has 40% custody, however, she is with us way more than that as she always wants to be with us and we love having her. We pay the court ordered child support as well as provide health insurance, child care payments, any and all school and extracurricular expenses, and even send groceries home with her so we know she has food at her mothers. I feel that we should be able to have some claim on our taxes at the end of the year with all the support we provide. Does anyone have any feedback for me? |
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