 Who qualifies for a stimulus act 2008 refund? |
is there a certain age group, income amnt limit and / or minimum, that you have to be in to get it and when are they starting to send the checks?
Additional Details
is there a certain ... |
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 Economic stimulus payments? |
| My last two numbers are 03 and I still haven't revceived my payment. Has anyone else?... |
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 Resident of Canada - 2006 Fiscal year Tax Return question. I din't file my 2005 Tax Return? Penalties? |
| I was travelling through Asia during 2005 and failed to file my Tax Return with Revenue Canada. I had no income for 2005. In 2006 I came home and started working, so now I am looking to file my 2006 T... |
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 Do self-employed odd-jobbers have to pay taxes? |
| Say you were a dog-walker or solo interior decorator, paid in cash by your clients. How would you go about finding out if and how the IRS expects to be paid?... |
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 Tax rebate??? |
| If you file with Turbo tax and have the refund put in your checking account will you be issued a check for the rebate or direct deposited? Turbo tax has it deposited in their account then they take ... |
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 Really need some advice on Capital Gains Tax on the sale of a second property, can you help?? |
| Before I married my wife she lived in her own little house that she brought fora humble £97000 in 2001. She moved in with me in 2003 but didn't want to sell the house incase things didn't ... |
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 Where is my stimulus check- used direct deposit ssn# 92 and nothing yet. i should of received it by may!? |
| im wondering if im the only one whos stimulus check is wayyyyy behind! its june 30th and I have not yet received it, I filed early and used direct deposit- the scheduled payment should of been ... |
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 What is your opinion of raising taxes on ........? |
what do you think about raising taxes on cigaretts, alcohol, and luxury items? are you pro or con and why?
Additional Details
you keep mentioning sin taxes
what do you mean?... |
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 Tax question? |
| If I earn £22991 for the fist 5 months of the financial year then I swith to £16000 for the remainer of the year will i have paid too much tax?... |
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 Filing taxes with efile? |
| do you know once you file taxes on efile how long it takes to get. i though i heard no more than 6 weeks compared to the tradional 8 weeks tks ... |
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 Where's my tax rebate? |
ok my last 2 digits of my social are 40. i was suppose to get it yesterday the ninth ( according to cnn news)
so where is it at now?
a day passed and i havent gotten it yet.
... |
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| I Lost It!!!? |
| I need to know what I can do, I lost my federal tax return form for 2006 and now I need it, a friend of mine did my taxes for me and showed me how but he doesn't have a copy of it...is there any ... |
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 Can anyone calculate what my tax return would be or how much I would owe? |
| year to date i have made 22,358. My federal deduction is 1,948.01 and my state is 811.09. Can anyone calculate what my refund would be or what I would owe. I have no kids and im not a home owner. i ... |
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 What does a tax preparer do for me? |
| I usually do my taxes myself. But now that I am maried, husband is military and I have a mary kay buisness(that is not doing too well) I need someone to help. I have all this paperwork and receipts ... |
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jo | What if you were out of work for 1-2 yrs and did not collect unemployment, do you still have to pay taxes?? |
At one point, one of my friends had lost a job in Jun of 2006, that he worked at for a long time. He reported his income to irs the next tax year in april 2007, as usual through the proper forms. Got his return later in June 2007. But from Jun of 2006 to Jan of 2008 he's not tried to work anywhere else where a W2 form needed to be filled out and is still the same way. He only kept odd jobs which paid him in cash, and even out of state jobs paid him the same way. During his period of not working regularly, he did not once collect unemployment since his leave was voluntary. Is this income still supposed to be reported to the irs? and if so, how does he do it? After reporting income anually with a regular job he is just concerned that this one year of not reporting income will make the irs inquire about what he has been doing. |
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edco
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No income to report = no return to file. |
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Judy1
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Legally he must report the cash jobs, in state or out of state, as income, whether or not he got a W-2 for it - not reporting it is tax evasion. If he doesn't and the IRS catches up to him, he'll be liable for serious penalties and interest in addition to the taxes he should have paid in the first place.
He'd report the income on a schedule C along with any associated deductible expenses, and fill out a schedule C to calculate self-employment tax.
If he just ignores this, there is a good chance the IRS will eventually catch up to him. Even if they don't, he'll h. ave trouble if he ever wants to get a mortgage, or car or other type of loan, get student financial aid, or apply for social security, since there would be no record of his income. There are a lot of downsides to evading income taxes, and being in trouble with the IRS is just one of them. |
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acmeraven
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This is what is called dropping through the crack or whatever. What he should do is total up how much he made doing odd jobs, put it on a Sch CEZ, this goes on the 1040 form, also a Sch SE for FICA; between ages 25 and 65 and earning less than $ 10,500 he will also be eligible for EIC. On the Sch CEZ he can also put down his expenses in doing odd jobs; mileage at 48 1/2 cents per mile; federal per diem for away meal and incidental expenses at $ 39.00 per day, yada. There also exists the possibility that your friend can be claimed on somebody else's return as a dependent if said friend was supported by somebody else and made less than $ 3,450.00 in a year; plus meeting other criteria. Contact me for a specific answer to a specific question. |
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v b
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Rewind. The post mentions CASH JOBS.
If he had more than $400 net earnings in cash jobs, he has a filing requirement because he would owe SE tax. If the friend is between 25-65, he qualifies for a little bit of EIC (to help cover the SE tax). |
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Doctor Deth
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if he never got a w-2 or 1099 from any employer in that time, don't worry about it - he should have filed a return for 2006 because he worked at the one job thru June 2006 |
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Trish
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technically, if there was ANY income......he should pay taxes on it; however, IF the people paid him in cash and they are not reporting it as wages paid.......(he should verify with them) then as far as the IRS knows.......there was no income in which case.......no taxes to be paid |
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spicertax
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The IRS knows that this happens to a lot of people. One year working and then no work or income the next year so no tax return is required. He is not alone and will not be questioned. |
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Sarah O
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Answerer number 1 is correct, but I would like to add that if he has worked for any companies that can give him a W2, he has to file because that means that the company that have him a W2 reported his income to the IRS. |
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