How to file income tax under Canada-U.S income tax treaty?

I%26#039;m a Canadian working in U.S during 2007 for more than 183 days. I would like to know if there any special to file income taxes on both Canada and U.S sides? If anyone has such experience before, please share with me. Thanks

P.S: My understanding is to file the taxes for both countries under the normal ways and then claim the foreign tax credit. Is this approach correct or any other tricks.

How to file income tax under Canada-U.S income tax treaty?

Start by reading publication 519.

If 2007 was your first year in the US, you probably have to file a %26quot;dual status%26quot; return. There is a sample in the publication.

The goal of the dual status return is to try and exclude any Canadian income from before (if this is your first year in the US) or after (if this is your last year) your time in the US. By excluding it, there isn%26#039;t a need for a form 1116 to avoid double taxation.

Middle class tax cut?

I have asked this question before, and to be fair, I%26#039;ll try it again. I received nothing from Bush supporters that there was anything other than a child tax credit and a one time $300 check a few yearsv ago. The child tax credit amounts to a few hundres a year, but are there any others

Middle class tax cut?

Good luck with that one. This subject has been a thorn in my

side for a while. Some Republicans have emailed me, I

think to say that they don%26#039;t believe me about the middle class.

Next week, Lou Dobbs is doing a special on CNN about the

crisis occurring in the middle class - hopefully, that might

enlighten someone!

Middle class tax cut?

I agree, thanks for best! Report It

Middle class tax cut?

I%26#039;m not sure exactly what you are asking, but my boyfriend (lower middle class) got $1,000 refund LAST year. don%26#039;t know how that helps... but I was just letting you know. i am not sure how it works either

Middle class tax cut?

Nope thats it...good luck...thats all you get From a Republican whitehouse...their position is ..if you are poor ...you deserve it!!!

Middle class tax cut?

Not sure what your question is?? The Democrats are the ones that are always touting that idea. Republicans believe in tax cuts period. These may be things you don%26#039;t see in your daily life. The Dems are more transparent - for instance, the dems that run my city just repealed the gas tax, so we%26#039;re back to paying tax now that the prices are coming down a bit. So while it appears they%26#039;re all for the %26quot;poor people%26quot;, how do you distinguish between wealth at the gas pump? Dems talk a good game, but you%26#039;ll pay more.

Middle class tax cut?

Do you get a refund every year?

If yes, then you need to change your tax rate because you giving the government to much of your money. Take that money and put it in stocks so it grows, heck even 4.5% is better than letting the government hang on and spend it on crap.

Here is another way to look at it, if you only pay $13k a year in taxes ( I figure maybe 52k a year gross at 25% tax bracket) and you then get 5% tax break, that was roughly the amount everyone got, then instead of paying 25% you are paying 20% so you pay 10400 meaning you saved 2600 on your taxes. Now throw in another 1k for each child, that is the new rate, say you have 2 then you saved 4600 on your taxes from the year before. This is on 52k, yeah you are not going to see $1000 a month in savings but damn you are only making $1000 a week gross. I know you might make more or less than this, but the math still figures out the same.

Now if you made 1 million dollars, you would have paid 39% tax, or 390k. With the tax brackets lowered to 35% on the top earners you would save 40k a year in taxes. Yes that is a lot more compared to the joe making 52k, That person just happens to pay way more than the joe making 52k.

Another thing to think of, how many people do you think Joe making 52k a year gross will employ? How many people do you think the Million dollar a year guy will employ?

If you are family of 4 and making 36k or less a year you should be seeing about 2-3k refund from the earned income credit. If you are single, well you know what tough you do not have nearly the responsiblity that those of us with a family have.

I realize that this will go over some, well most, of the liberals heads. I just realize they are in the need of some growing up and some real life experiences, getting out from mom%26#039;s basement will help with that. Hopefully this helped explain it a bit better to you.

Middle class tax cut?

The numbers I saw showed that everyone got about 15% reduction in there taxes under the Bush tax cuts. Which means that if you paid $6,000 in taxes you saved in the neighborhood of $900. If you were very wealthy and had to pay $600,000 In taxes then you savings were $90,000, The same percentage, but much more money. That is why the Democrats said if you were in the lower income you saved enough to buy a muffler, but if you were rich you could buy a Lexus. This is true but the savings were proportionate to your tax bill. And the rich carry the majority of the tax burden. so why not give them the same break.

The fact is that most of the rich are business owners and are the ones providing jobs for the country, It you tax them to the extreme you kill a lot of jobs and hurt the economy. Notice how the economy has rebounded after the tax cuts where put in place. Jobless rates are lower than any time in the previous Clinton administration, who raised taxes as soon as he got in office, Not only that but tax revenues are way up even with the lower tax rates because the economy or Gross National Product has sky rocketed. It is better to have 28% of 12.36 Trillion in 2006 Than 36% of 8.8 Trillion in 2000

$47 in tax money??

My husband and I just filed our taxes and I am confused. My brother is not married with one son and made $4,300. I am married with three children and made $47. We made nearly the same amount and I was told that I do not qualify for the child tax credit. Why do I not qualify for it this year but last year I made less money and qualified? Can I have someone else look over my taxes to check for mistakes or would that cause an audit?

$47 in tax money??

When you file your taxes, you don%26#039;t %26quot;make%26quot; any money. You get back what you overpaid throughout the year - unless you qualify for the earned income tax credit, then the government does give you money.

The child tax credit and the earned income credit are 2 different things. The child tax credit starts to phase out at about $110,000 of income for married filing joint.

Following is a link to the earned income tax tables look at it for yourself. The tables start on page 42.

http://www.irs.gov/pub/irs-pdf/p596.pdf

There is a cut off to receiving the EIC. It is for low income people with earned income. If you pay gets too high, you no longer qualify.

EITC Thresholds and Tax Law Updates

Current Tax Year 2007

Earned income and adjusted gross income (AGI) must each be less than:

$37,783 ($39,783 married filing jointly) with two or more qualifying children;

$33,241 ($35,241 married filing jointly) with one qualifying child;

$12,590 ($14,590 married filing jointly) with no qualifying children.

Tax Year 2007 maximum credit:

$4,716 with two or more qualifying children;

$2,853 with one qualifying child;

$428 with no qualifying children.

Investment income must be $2,900 or less for the year.

The maximum Advance Earned Income Tax Credit (advance EITC) for tax year 2007 the employer is allowed to provide throughout the year with the employee%26#039;s pay is $1,712.

The following is the link where that information is located.

http://www.irs.gov/individuals/article/0...

Did you make more than $39,783? That would be the problem.

You can%26#039;t always compare your taxes to someone else%26#039;s - there are so many nuances and variables. Just do your vigilant research or hire someone competent to prepare your taxes. Errors cost taxpayers loads of money that is rightfully theirs.

Also, having someone else look at your taxes, and/or filing a 1040x, Amended tax return, does not cause an audit. If a mistake was made, and you amend your return to do it correctly and receive what is rightfully yours, what%26#039;s the problem?

$47 in tax money??

you might want someone else to look at your taxes. I know the limit for a family of 4 is 50,000 not sure about a family of 5

$47 in tax money??

You don%26#039;t say what your husband made, so there%26#039;s no way to tell what was on your return, or if you even filed a joint return. Do you really mean that you made $47 for the year? And what does your brother and his income or his son have to do with any of this?

You only get the child tax credit if you owe tax for the year. With $47 income, you wouldn%26#039;t.

I%26#039;m guessing that you have some typos in your question. Post again with accurate info and you might get a better answer.

$47 in tax money??

Certainly, have some one else look at your tax return. Not a bad idea to double-check.

Child tax credit is only available when child is younger than 17 years old.

Amount of refund depends on amount of withholding throughout the year on your W-2s, which is controlled by the W-4s you filed with employer.

Very difficult to compare your tax refund with some one else--have to compare whole tax return, line by line.

Your refund indicates that is what you got back from government. But you didn%26#039;t tell us how much tax you, or your brother owed, and how much each of you paid in during the year. There are dollar limits on earnings to be eligible for many credits, such as EICm education credits and child tax credit.

Does this child support/tax situation make any sense to you?

I don%26#039;t get this. Maybe someone can shed some light of the subject and let me know if there%26#039;s something I%26#039;m missing and not seeing...

Over the course of a year, I will have paid about $9,000 in child support. That%26#039;s roughly 30% of my pay...give or take. I am still in my daughters life and have never been any type of %26#039;dead beat%26#039;.

From what I understand, child support is not a deduction on your taxes and my ex doesn%26#039;t have to claim it as income.

What doesn%26#039;t make sense to me is that my now ex will be getting back about $3,000 in taxes because she%26#039;s claiming my daughter.

I will owe $1,500 because I will be filing single with no dependants.

So if the child support amount I pay is taking care of 100% of my daughters needs, how is it that only my ex gets all the monatary tax credit just for having physical custody of her? I am paying my share of costs. So why doesn%26#039;t I get any credit?

Let me know if there is something I am overlooking.

Does this child support/tax situation make any sense to you?

In a perfect world...your ex would allow you to claim your daughter because of your child support. However, because of the tax laws...the dependent tests state that the person whom the child lived with the longest during the year is who can claim the child.

Next year, you should inform her that you believe it would be fair to allow you to claim her every other year so that you too can benefit from the credits.

However, your ex may not go for that because this is not a perfect world.

Sorry for your luck.

Does this child support/tax situation make any sense to you?

Child Support is a non taxable item and you can not claim it on your taxes, you are correct. The only time money is claimed is when it is Spousal Support.

FYI, it costs alot more than $9,000. to raise a child in one year.

You are just going to have to suck it up and pay.

Does this child support/tax situation make any sense to you?

b/c she has custody therefore according to the gov. eyes she%26#039;s the one there phy. and fin. even though u pay child support, it doesn%26#039;t matter she gets all the money during tax time.

Does this child support/tax situation make any sense to you?

Unfortunately, with out any court order you can%26#039;t claim the child since she lives with the mother. My advise to you is take her to court and get joint custody usually then you claim one year and she claims the next so on and so on. Maybe you get the courts in your favor and let you claim her every year. The only ones that can help you are a lawyer and a judge.

Don%26#039;t listen to the people that say you should pay. At least not every year. That way you can plan ahead for years you can%26#039;t claim her(change your w-2 every other year) so that way you aren%26#039;t effect. Both you and your ex provide your daughter support. Both of you made her. So both should be able to claim her. It%26#039;s only fair. SO GO TO COURT! This year is to late however.

Does this child support/tax situation make any sense to you?

What you are overlooking (or rather what your attorney overlooked at the time of divorce and the settling on child support and the rest of those things) is an agreement to be able to claim your daughter alternating years. It%26#039;s onlyfair! If you must, hire an attorney and go back to court to get htis settled. You shouldn%26#039;t be punished financially for getting a divorce, although that is exactly what happens in the state of Indiana! God I hate this state!

Does this child support/tax situation make any sense to you?

If you are paying child support and paying for all your daughters living expenses, you ARE entitled to claim her as a dependent! Seek legal help if your ex-wife does not agree to this as it is the law.

Does this child support/tax situation make any sense to you?

This is difficult for a logical person to explain, but here goes. First of all there is nothing fair about the tax system. Fairness does not enter into it. The tax code was constructed with the help of lobbiests who were able to insert provisions into the code favoring special interest. Divorsed fathers providing child support could not afford to pay lobbiests to insert provisions into the tax code favoring them. Simple as that.

Are you ready for the LARGEST TAX INCREASE in history?

What are you going to do if Bush fails to veto the spending bill the house has proposed? No matter what bracket you are in, your taxes are going to go up significantly.

TAX AND SPEND AT ITS FINEST.

%26quot;The Democrat%26#039;s budget calls for a tax increase of every tax bracket, slashes the child tax credit, raises the death tax, and reinstates the marriage penalty. And this is just a sampling, there is more. In all, the Democrat%26#039;s plan will cost taxpayers over $390 billion in the next 5 years. What is particularly frustrating about this ill-advised action is that the Democrats are blatantly ignoring the economic consequences and fiscal benefits that lower taxes have brought to the treasury the past few years. Revenue has increased in double digits the last two years alone because of the economic expansion encouraged by reduced taxation. This revenue growth has been crucial in reducing the deficit.%26quot;

http://greeneyeshade.townhall.com/blog/g...

Are you ready for the LARGEST TAX INCREASE in history?

Ouch! The federal government has already pushed me enough to consider suicide as an option again. (Don%26#039;t worry I%26#039;m not going to do it, so don%26#039;t call in the men with the white coats to bring me to a nice padded cell. Although, that does sound quite pleasant right now.)

What I don%26#039;t understand is the people that can%26#039;t see the facts before them. That all the government does is take. They don%26#039;t give us anything for the money they rob from us. And so many people are brainwashed into believing it%26#039;s the governments right to do so.

Edit: I honestly earn the meager paychecks and rent credits that I get each month. And I don%26#039;t want anything from the government, but to leave me alone and to take proper care of the people who have served this country.

Edit: See people truely believe we the citizens on the United States of America should be taxed to death. When in actuality the government should look at what they are spending %26quot;OUR%26quot; money on and cut all those programs that shouldn%26#039;t be in the budget in the first place.

Are you ready for the LARGEST TAX INCREASE in history?

how else do you follow...

THE LARGEST DEFICIT INCREASE IN HISTORY?

閳ユ竸eficits don閳ユ獩 matter閳?- Dick Cheney 2002 (Duh)

...akin to saying %26#039;the burden on the people don%26#039;t matter%26#039;

Paul O%26#039;Neill (former U.S. Treasury secretary) must be saying

%26quot;TOLD YA SO!!!%26quot; Report It

Are you ready for the LARGEST TAX INCREASE in history?

dont forget to add how their global warming hoax will increase our taxes too

Are you ready for the LARGEST TAX INCREASE in history?

I%26#039;d be willing to pay high taxes if it meant we would all get national healthcare for only true AMERICAN citizens,

and better, cleaner energy sources, and the full turn over of gas to electric.

Are you ready for the LARGEST TAX INCREASE in history?

Great they will be out of office in 2 to 4 years,

DAAA DAAA DAAA ARE YOU READY FOR SOME TAX HIKES?

Are you ready for the LARGEST TAX INCREASE in history?

i believe it favors more the wealthiest then the milddle class or poor.

Are you ready for the LARGEST TAX INCREASE in history?

Based on what we now know - the only way to balance the federal budget is by letting the tax cuts expire. Calling that a tax increase just shows how stupid and disingenuous the right really is.

Are you ready for the LARGEST TAX INCREASE in history?

It%26#039;s a great excuse to support more illegals, lazy people, and people who should %26quot;just have everything that the hardworking citizens of America have%26quot;.

Instead of cutting into all of our hard earned wages, perhaps they should be campaigning for a national JOB FAIR.

Damn.

Are you ready for the LARGEST TAX INCREASE in history?

NO

We have HUGE tax bill and the EXTREMELY unfair Alternative Minimum Tax added $6000 to our bill and we lose many deductions because of it also.

Are you ready for the LARGEST TAX INCREASE in history?

So, who did you think was going to pay for Bush%26#039;s lunatic spending? If your figures are correct, which I very much doubt.

Wake up.

Are you ready for the LARGEST TAX INCREASE in history?

They will never understand how an economy works. If people have money they will spend money. This creates more jobs and in turn creates more spending. If we take the money out of peoples pockets they can no longer spend. If people are not spending then employers will have to down size. Now we have more unemployed people and even less spending. They need to pick up history book some time.

Are you ready for the LARGEST TAX INCREASE in history?

I am from the school of you play you pay .

Since we got lead down this primrose path to bankruptcy we must bail ourselves out .

I would do this by restructuring the tax system and make it a graduated program .

Those who benefit the most from all that society provides should pay more . Its just that simple .

Is it fair ? Who cares .

If the only way you can feel Good is to spend millions on yourself by buying mansions all over this and other nations and expensive art fancy exotic cars and live a completely self indulgent life then More power to you .

Fight to keep every penny you earn .

Oh yeah !!! . I forget you do not earn anything because flapping you lips never pulled a potato from the ground to eat . Chopped down a tree to build a table to eat it on or built the oven to cook it in .

A hard working man on his own should be able to provide his family with a home and car and food and vacations . This should be the norm .

Instead it represents very few Americans any more .

So yes a system that takes back from the rich what the working man had to pony up is fair to me .

Bush dragged us into this hole and we are all going to have to pay the piper .

That would be much easier if I knew he was sitting in a prison cell .

Are you ready for the LARGEST TAX INCREASE in history?

Somebody has to pay for the increasing deficit. Who would you suggest that be? We cannot continue to borrow and spend, borrow and spend, borrow more and spend even more without somewhere having to pay for it. Do you want your great grandchildren to have to pay for this excess spending we have today? When Bush took office there was a budget surplus and now we are looking at the largest budget deficit in history. Can we go on like this? I suppose you run your household on borrowed money. When you die your family will have to pay for your good life. Is that how you think?

Are you ready for the LARGEST TAX INCREASE in history?

Maybe people would have to sell the big car they drive that they do not need and mcmansions with two people living in them.

Are you ready for the LARGEST TAX INCREASE in history?

Bring it on!

Are you ready for the LARGEST TAX INCREASE in history?

dont you just love getting your %26quot;news%26quot; from a republican website. thats like me getting all my %26quot;facts%26quot; from a blogger who worships al franken. kinda retarded, dont you think?

SUV Tax Break?

Does anyone know the implications of the tax break if you have two jobs. One job would qualify as self employed lets say I made 100,000 on the self employed job and 90,000 for the second job. If I use the vehicle to travel to my second job does this reduce my tax credit? Also I wanted to buy the Range Rover Sport, they claim I can get a tax break of 35,600 dollars in the first year. Does this mean my taxable income for my self employment is reduced to 64,400? I plan on buying the suv in early 2008.

SUV Tax Break?

Whoever is telling you that you can simply write off the total price of an SUV needs to put down the eggnog. This is untrue. There are provisions for depreciating trucks and SUVs which are used for bona fide business purposes.....not commuting.

Mileage to get to and from work is not deductible.

Your total income from your question is $100,000. Depending on how your business and personal deductions fall will determine your taxable income but I can%26#039;t imagine a scenario where it will drop all the way down to $64400 unless your business is showing a massive loss.

There is no tax break for holding more than one job.

SUV Tax Break?

If you use your vehicle to go to your place of employment (the second job), from your place of self-employment (which is not your home), then your transportation expenses are unreimbursed employee expenses. You would not be able to deduct those expenses from your self-employment income. The deduction would appear on Schedule A and be subject to a 2% of AGI floor. If your income is $190,000, only expenses in excess of $3,800 might be deductible.

If your place of self-employment is your home, and you are driving to your place of employment from home, this is commuting costs which are not deductible at all.

The large deduction you quote would apply if your vehicle was used 100% percent for business purposes, which is not the case from your description. Moreover, if your vehicle is used 50% or less for business, $25,000 of the deduction entirely disappears. You might still be able to take mileage from one place of work to the second place of work at 50.5 cents per mile, or a percentage of actual costs based on the percentage of business use.

SUV Tax Break?

As a further note on the 50% rule, if business use of the vehicle falls to under 50% during the first 6 years you own it the 179 deduction must be recaptured.

The recapture is at ordinary rates, plus it is subject to self-employment tax.

Child tax backdated?

I ended my joint claim with child tax on the 31st august and had to apply for income support due to being a single parent now.On the same day I applied for income support I rang the tax credit helpline,they sent me out forms,I filled them in and sent them back on the 3rd august.I have spent everyday ringing them since only to find that they didn%26#039;t recieve my forms untill the 24th agust.They have now told me that I will only get my money backdated to the 24th even though I have recieved no money from child tax from the 31st august,How can this be right,it%26#039;s not my fault that they left my form sitting on soneones desk.Any idea how I can get my money backdated to the change in circumstances?I even told them that income support started my payments from the 3rd august and I can prove I have recieved no money other than my income support and family allowence through my bank statements.I have bills mounting up and they still haven%26#039;t processed my claim and have told me it could take a futher 3

Child tax backdated?

Your best bet is to get down to CAB, they should be able to help you. Keep ringing Tax Credits and tell them because of them not processing your claim you are suffering HARDSHIP this is very important. Also ask for the forms for making a complaint. You could also apply for a crisis loan from the jobcentre, no one can expect you to live on 鎷?0 odd quid a week when you have children to support. Best of Luck to you x

Child tax backdated?

go to the welfare rights and they will sort it out for u and u will get every penny bk that they owe u good luck

Child tax backdated?

They%26#039;re taxing children?

Damn politicians

How much will my federal tax refund be if I had $0 taxes in 2007?

Married, 5 kids, 60k gross, 0 tax liability due to mortgage, taxes, child tax credit etc.

How much will my federal tax refund be if I had $0 taxes in 2007?

$300 of you, $300 for wife, $300 per child who is under 17.

However, the $0 tax liability is NOT after the child tax credit, but before. So if you paid $1200 in tax BEFORE that credit, bump this to $600 for you and $600 for your wife.

5) Married couple with two children, AGI is $35,000, federal income tax liability before child tax credit is $1,070.

Rebate is $1,070

Qualifying child credit is $600

TOTAL is $1,670

6) Married couple with two children, AGI is $80,000, federal income tax liability before child tax credit exceeds $1,200.

Rebate is $1,200

Qualifying child credit is $600

TOTAL is $1,800

How much will my federal tax refund be if I had $0 taxes in 2007?

The refund will be whatever was withheld from your wages for income tax.

How much will my federal tax refund be if I had $0 taxes in 2007?

If you are talking about a refund on your tax return it would be the amount of money you paid in federal taxes plus any refundable credits you qualifed for minus any self employment tax you owe if applicable.

If you are talking about the rebate:

300 for you

300 for spouse

300 for each of the children that was claimed as a dependent on your 2007 return that was under the age of 17

To correct a tax return from previous years, is it possible to use the 1040x form that's revise

I have to correct my taxes from the years 2005 and 2006 (I found out that I didn%26#039;t take a tax credit that I could have taken). So I just learned I have to file tax form 1040x to correct this. But which 1040x do I have to file? The recent one that was revised in 2007? Or the ones that were revised in 2006 and 2005?

To correct a tax return from previous years, is it possible to use the 1040x form that%26#039;s revised in 2007?

Use the current version of Form 1040X (Revised 11/07) to file an amended return for any previous year%26#039;s taxes.

To correct a tax return from previous years, is it possible to use the 1040x form that%26#039;s revised in 2007?

You must use the software for the years you are correcting, that way the taxes are calculated for the year in question.

To correct a tax return from previous years, is it possible to use the 1040x form that%26#039;s revised in 2007?

You must use the 2005 1040X and the 2006 1040X.

They must be for the year you are amending.

visit IRS website: www.irs.gov and download the previous year forms.

To correct a tax return from previous years, is it possible to use the 1040x form that%26#039;s revised in 2007?

You can use the current 1040X.

If we have to pay the piper. Is it tax deductable? Can we pay with check or credit card?

Entertainment expenses are usually tax deductible...

Don%26#039;t know about home improvement and repairs, such as plumbing...Oops! Wrong type of piper...

If we have to pay the piper. Is it tax deductable? Can we pay with check or credit card?

If we%26#039;re paying the piper, we%26#039;re probably paying some sort of tax on that amount as well. I%26#039;m not sure the IRS would allow that sort of deduction.

If we have to pay the piper. Is it tax deductable? Can we pay with check or credit card?

Pickled Peppers will do just fine.

2008 tax rebates require at least $3000 of earned income. Does income on a 1099misc from freelancing

I have $2500 on a w2 but I do freelancing on the side. I also sell books online (but do not report this income) I really need the tax credit so want to make sure I report my income correctly to qualify for it. Please don%26#039;t just cut and paste the general websites, they did not help. I want to know specifically about the 1099misc.

Thanks

2008 tax rebates require at least $3000 of earned income. Does income on a 1099misc from freelancing count?

As the others stated, freelance income does qualify as earned income.

You should report your online book sales from half.com on Schedule C - Profit or Loss from Business, which is attached to your income tax return.

Your net income (sales minus any costs you incurred - inventory, shipping costs, etc.), is your earned income for purposes of the rebate check, so if you have $2,500 in wages, then you need an additional $500 in net earnings from your book sales to qualify for the rebate check.

Hope this helps!

2008 tax rebates require at least $3000 of earned income. Does income on a 1099misc from freelancing count?

Yes income shown on a 1099 misc counts. If you start claiming money this year that you don%26#039;/t normally claim you could run into trouble. Certain deductions taken for business has to be recaptured in some circumstances

2008 tax rebates require at least $3000 of earned income. Does income on a 1099misc from freelancing count?

Your net income from freelancing does count as earned income - that%26#039;s the total income less the expenses.

You should be reporting your booksale income and expenses also.

2008 tax rebates require at least $3000 of earned income. Does income on a 1099misc from freelancing count?

Keep in mind that the net income will be added to your ordinary income (W-2%26#039;s, etc) and you have to pay federal income tax plus self employement tax (15%) on that net hypothetical income. So you will be filing a Sch C and SE

I need tax help! any accountants out there??

I am so confused about deductions. my husband made several purchases for job-related items in 2006, amounting to about $4000.00. Our income (filing jointly) was less than $50,000, but when I tried to use the deductions, it said something about it being less than the %26quot;standard deduction%26quot; of $10,000 something. What does that mean? Can we not write off those expenses, or does the %26quot;standard deduction%26quot; take care of it?

Also, H%26amp;R Block said we were not eligible for the child tax credit (we have two kids). I thought you had to make $100,000 in order to no longer be eligible. I did our taxes myself to save $250 bucks, but we%26#039;re not getting near the refund I thought we would. Help??

I need tax help! any accountants out there??

If you%26#039;re married filing joint, you get an automatic standard deduction of $10,300. If your itemized deductions do not exceed $10,300, then it%26#039;s more beneficial for you to use the standard deduction.

Here is info on the child tax credit. You should be eligible if your children are under 17.

http://www.irs.gov/publications/p972/ar0...

I need tax help! any accountants out there??

If you don%26#039;t have more total deductions than the Standard they are wasted. Does he have or business or is he W-2? If W-2 should not be putting out that kind of $$.

On Child credit must be something else you are not mentioning as should be able if lived with you and have soc sec #s.

I need tax help! any accountants out there??

Unreimbursed employee expenses are itemized deductions. If your total itemized deductions do not exceed the standard deduction, it is better to use the standard. Email me if you want, I might be able to help a little more.

I need tax help! any accountants out there??

Get a referrals from family or friends you trust for a pro to do your taxes. It%26#039;s worth the money.

I need tax help! any accountants out there??

Sometimes, you are better off paying money to have a service performed for you that you are unable to perform yourself!

Job related expenses: If they are non-reimbursed business expenses assoicated with a job in which you get a w-2, only the amount in excess of 2% of AGI is used and added with medical expenses in excess of 7.5% of AGI, charitable contributions, mortgage interest and state and other taxes paid in order to determin if you can itemize or if the standard deduction should be utilized. If your husband was paid on a 1099 and this income is on a shedule F or C or if this is assoicated with rental property, then the expense can be deducted from the income received.

Child Tax Credit: If your children are were 17 at any part of the 2006 year, you are not eligible in addition to the aforementioned income limitations.

I need tax help! any accountants out there??

When itimizing you the program uses your standard deduction or your itimized deduction whichever is best. Also about the child tax credit if you zeroed out meaning your alternative minium tax is zero you don%26#039;t get that credit due to it being a nonrefundable credit:)

How do you file a tax return for past years?

I didn%26#039;t file any tax return for 2005, but it turns out I should have in order to have received the gst/hst tax credit because I have such a low income.... so what I really want to know is how to claim this money that I would have received had I filed a return. All the information I have managed to find is that I have to file a return for 2005 to get the credit for 2005 (okay, makes sense so far...but how?) There%26#039;s no way you just forfeit the money just because you didn%26#039;t file a return....?!?

How do you file a tax return for past years?

Yes, you can file your 2005 income tax return at this point, but it would have to be paperfiled, since it is well past the deadline for netfile/telefile eligibility.

If this is the first time you have ever filed an income tax return, then you will also have to paperfile your 2006 income tax return.

Generally speaking, netfiling and telefiling are only available to taxpayers who are recognized in CRA%26#039;s database and who are compliant with filing of income tax returns.

I suggest you send out your 2005 income tax return first ASAP, if you owe money on it, you will be assessed a 5% late filing penalty on the balance owed, plus arrears interest on the balance that was due April 30, 2006.

If you have a refund or no taxes payable on your 2005 income tax return, then there are no penalties or interest charged to you whatsoever.

As far as your 2006 income tax return is concerned, make sure you file your return by April 30, 2007, particularly if you have a balance owing,

as this will avoid the 5% late penalty charges (for filing after April 30, 2007).

However, any balance owing on your 2006 income tax return is payable by April 30, 2007 to avoid arrears interest to be added at a later time by CRA.

I would also recommend that you mail your 2005 and 2006 income tax returns via Canada Post and pay the extra $1.50 for signature required, make sure you indicate on the Canada post mailing label what exactly you are enclosing to CRA, and mail it to your local district taxation office.

I am not sure in what part of Canada you currently reside in, but the CRA website below has all the district taxation office addresses:

http://www.cra-arc.gc.ca/contact/tso-e.h...

Hope this helps you.

How do you file a tax return for past years?

Perhaps the easiest way to file for last year is online at

http://www.quicktaxweb.ca

Once they process your return, you will get a lump sum of the GST credit from 2005 (likely received in July, if you file now)

Mortgage tax write off?

My brother and I bought a house last year, although only his name is on both the title and mortgage. Every other month, I write a check to pay for the mortgage, so we each pay equal amounts in the year. Can I write off half the mortgage tax credit and he takes the other half?

Mortgage tax write off?

Bob%26#039;s solution is pretty good, you have no write off at all, there is no way to divide the write off. But, your brother can compensate you.

Mortgage tax write off?

No. The mortgage company sends a 1098 form to the IRS and to the homeowner with the interest paid amount in the name of the person on the Note. Only that person may take the write off.

Think of it like this- can a renter take the deduction since they are paying the payment each month? Nope- in the eyes of the IRS he is the sole owner.

Mortgage tax write off?

sorry to inform u .

u do not own a house, ur brother does.

if u have an investment contract to this house u may have legal recourse.

however u have no legal attachment to this house.

if u believe so do contact a qualified lawyer.

IRS says u own no house and will get u if u file so.

sorry

Mortgage tax write off?

Actually, no. You may have written a check, but it%26#039;s not interest because you haven%26#039;t signed a loan and have no legal obligation to pay. He should have reciever a copy of Form 1098 from the mortgage holder. The name on that is the name the bank reported to the IRS as having paid them. If you try to deduct it, it won%26#039;t match and 1098s that the IRS has.

What I would do is have your brother deduct the whole thing and then the two of you figure out what the deduction was worth and your brother gives you his check for half.

Which tax policy will increase Investment Expenditures?

1. Firms would receive a subsidy in the current period of (t) per unit of current output produced. These subsidies would be used for investment by the firms.

or

2. An investment tax credit, by which firms would receive a subsidy of (s) per unit of investment in the current period.

Is it best to file tax returns married but filing seperately or married and filing jointly?

we are married in our 1st year. I owe child sopport and the irs will take my tax credit. I am wanting to file married but seperately so that the irs will not take my wifes tax credit for my child sopport, am i thinking correctly?

Is it best to file tax returns married but filing seperately or married and filing jointly?

File Jointly to be able to claim all the credits and deductions that you are entitled to. File the form 8379 for you wife to get her portion of the refund and credits that are attributed to her income

http://www.irs.gov/pub/irs-pdf/f8379.pdf

Make sure to include this with your tax return, it will delay the processing of the return

1-800-829-1040

Is it best to file tax returns married but filing seperately or married and filing jointly?

I hope it%26#039;s better in the States than in Canada. In Canada, married couples get the royal shaft at income tax time and I rather expect that Americans do also.

Is it best to file tax returns married but filing seperately or married and filing jointly?

It depends on your tax status as to whether filing separately is beneficial. If you want to file as married filing jointly, your wife can complete an %26quot;injured spouse%26quot; form. That way the IRS will not take that portion of the refund that is attributed to her. Speak to a tax professional or the IRS about it. You can have the tax figured under both filing statuses to see which is best for you. Good luck.

Is it best to file tax returns married but filing seperately or married and filing jointly?

You can still file married filing jointly...

You will need to file form 8379, which is an %26quot;injured spouse allocation%26quot; form.

After you complete your return, you fill in this form and state which parts of the return are yours %26amp; which parts are your spouses. If you are in a community property state, that will also be taken into consideration....The IRS states that all withholdings in a community property state were paid by both spouses equally, even though in actuallity one may have paid more withholding than the other. This basically will protect half of the refund (or your spouses portion) from being used to pay your arrearage.

When you do this, you have to write %26quot;INJURED SPOUSE%26quot; on the top right corner of the first page of your 1040.

Doing it this way will always come out with more of refund that filing married but separate.

Hope this helps!

Good Luck!

Is it best to file tax returns married but filing seperately or married and filing jointly?

I used a few tax filers but the best one was this free online tax filing tool try http://doiop.com/taxfiler . It will answer questions through live online support as well.

Is it best to file tax returns married but filing seperately or married and filing jointly?

Pay your back child support,so you can file jointly and your new wife don%26#039;t have to worry about the money you owe in child support.I may sound hard,but I have child support taken out of my pay every week,because I helped make them and its my responsibility to provide for them.

Is it best to file tax returns married but filing seperately or married and filing jointly?

Have it figured BOTH WAYS and then you will actually see the difference.

Tax Help!!!!!?

I need to know about the EIC I was told that a single person of 25 years of age or older was eligible for a tax credit also is there a way i can estimate my return amount just by my tear to date earnings

Tax Help!!!!!?

What you heard is true if you meet income requirements. Without a qualifying child, your income for the year must be under $12,590. Depending on your earned income, EIC can range from $2 to $428 if you qualify for EIC but don%26#039;t have any qualifying children.

Tax Help!!!!!?

I would think you could go to www.irs.gov and see what you have to qualify for to get EIC. Earned Income Credit is just for people who do not earn much during the year and the IRS are trying to help you by giving you your refund during the year, instead of at year end. If you do not save money during the year, I would not apply for this, at year end you will get a refund check, that would be like putting money away all year and getting a check at the end. It is really not much money each week, but seems like a lot more at year end when it is a lump sum payment.

Tax Help!!!!!?

go to your local library and get a tax book; EIC will be in there for estimating how much of a tax break you can receive. Subtract that amount from how much you already put in and you should have your average return

Tax Help!!!!!?

If you single have no dependents, 25 years old, and work receiving wages then you may qualify for EIC. You can download the 1040ez form and instructions from the web site at: irs.gov. The instructions will have the tax tables that you will need. The form is very easy to complete. Do not forget your state taxes either.

Can a US citizen get tax relief on the UK National Insurance taxes?

I have dual (US, UK) citizenship, but am now a resident of UK (this is the transition year, ie, started as a US resident). I understand the foreign tax credit and foreign earned income exclusion portion of the US tax code. Is there any relief (as healthcare expense in itemized deductions eg) for Nat%26#039;l Insurance charged by british government?

Can a US citizen get tax relief on the UK National Insurance taxes?

Yes, a US citizen can get tax relief on the UK National Insurance Contribution (NIC).

Employees and self-employed individuals can apply, under what is known as a %26quot;totalization agreement%26quot; to opt-out of dual country coverage. To opt out of NIC, the application is made to the U.S. Social Security Administration and the certificate of coverage is then presented to the UK Inland Revenue National Insurance Contributions Office. See the links below for further information.

Can a US citizen get tax relief on the UK National Insurance taxes?

Are you going to claim tax relief from England and the good OLE USA??

Can a US citizen get tax relief on the UK National Insurance taxes?

Pay your taxes you freaking scrounger

Can a US citizen get tax relief on the UK National Insurance taxes?

NO the demoncrats want their (your) money !

What exactly am I supposed to send.... reguarding the U.S income tax return?

The university asks for %26quot;A signed copy of the 2007 federal income tax return, including all schedule and W-2%26#039;s%26quot;

so just the little W-2 form, the 1040 Form and the schedule C-EZ, Schedule SE, and Schedule EIC?

what about the forms labeled- 8812 (Add. child tax credit), the IT-201 Form (Resident income tax return) and the IT-213 (Claim for Empire State Child Credit)

Thanks, I%26#039;m really confused

What exactly am I supposed to send.... reguarding the U.S income tax return?

Yes, only send them what they%26#039;re asking for -- just the 1040 form, schedules, and W-2s.

The information from the other forms you mentioned is carried over to the 1040 or schedules already.

The university is apparently not interested in the details of how your parents calculated those amounts, simply how they reported those amounts.

How do we fix our tax issue?

My wife and I filed with HR Block last year. The preparer told us that if my wife, who makes about 35K contributed to a ROTH, we would get a bigger tax return. We forgot to contribute in the required timeframe. Now the $4K contribution we made to her ROTH shows as a 2007 contribution instead of 2006. BUT, I was told by another tax profesional that a ROTH is nondeductible so Its not a big deal and I just need to adjust my records. But Im pretty sure that claiming that $4K contribution gave us a bigger tax credit on our 06 return. We got about 600 back insted of owing 2-3 hundred without the contribution. What should we do???

Oh yeah, The IRS has NOT contacted us about this. I just know we made the contribution late and imagine its only a matter of time before they catch on.

How do we fix our tax issue?

File a 1040-X with payment due as soon as possible because the clock is ticking on interest. You could try appealing any penalties because of incompetent tax advice but I have no idea if that will do any good.

Maybe Block is liable for the error. It%26#039;s pretty elementary that deductions to a Roth IRA are never deductible, so it%26#039;s a gross error. Since you just promised to do something after the return was completed, they could say you misunderstood the instructions, or that they%26#039;re not liable for your mistakes after the return was completed. As a volunteer tax preparer I%26#039;m always nervous when people promise to make big IRA contributions before April 15 so they can get the write-off. But we were told to trust people on this so I go along.

How do we fix our tax issue?

File a corrected tax return for 2006.

How do we fix our tax issue?

You had better go back and look at your return. If you did take an adjustment for a traditional IRA contribution and didn%26#039;t actually contribute to a traditional IRA then you need to file an amended return and pay the taxes on the contribution that you did not make.

A Roth IRA is never deductible. If you can prove that the Block employee told you that it was you may be able to get Block to cover the interest and penalties that you will be hit with.

The IRS eventually will catch this but it may take a year or more for it to happen. The longer that you wait to correct the issue the more it%26#039;s going to cost you.

How do we fix our tax issue?

What probably happened was that you got a $400 credit for the retirement savings credit. If you didn%26#039;t contribute to the Roth IRA in time, you need to file an amended 1040X for 2006 to correct this. The IRS might or might not catch up with you, but better for you to tell them that you goofed, then them to tell you that you goofed.

How do we fix our tax issue?

Like %26quot;PepsiLime%26quot; I am guessing that this had to do with the Retirement Savings Credit and not that Block tried to deduct a Roth IRA.

Go back to Block. They should amend the return for free. You will have to pay back taxes plus penalties and interest. As it may not be Block%26#039;s fault, they probably won%26#039;t pay the penalties and interest.

How do we fix our tax issue?

It%26#039;s not just a matter of being late, although that would be a problem. A contribution to a ROTH isn%26#039;t deductible, so if that changed your tax owed, the preparer screwed it up and you need to amend your 2006 return to correct it.

When you go to H%26amp;R Block, you really take pot luck. Some of their preparers are very competent, others are not. Apparently you got one who wasn%26#039;t. If you went to a year-round office, go back and ask for the manager - they should prepare the amended return at no additional charge.

If this was a Retirement Savings Contributions Credit and not a deduction of an IRA, you and she would only be eligible to take that on a joint return if your AGI was under $50K - you don%26#039;t say what you make, but if she makes $35k and you also work, you are probably over the limit for that. If you filed as married filing separately, then she is over the limit herself. Even if you had NO income yourself, it%26#039;s unlikely the credit would have made $800 difference in your taxes.

What are the tax brackets in Canada for 2007?

I%26#039;ll be making $30000 this year before tax, what bracket am i in? what are all the brackets? what can i do to increase my tax credit?

What are the tax brackets in Canada for 2007?

To see the tax brackets refer to

http://www.cra-arc.gc.ca/tax/individuals...

The top half of the page contains the federal rates, and the lower half houses the provincial rates.

Like the previous poster commented the best tax shelters are RRSPs. Other things like union dues, dependants, medical expenses and charitable donations have the potential to increase your tax credits. Also you may be eligable for Provincial tax credits.

What are the tax brackets in Canada for 2007?

30,000 is a relatively low tax bracket. There are many and the best source for them is to go to the CCRA%26#039;s website and use the Tables on Diskette. To increase your tax credit you can open up an RRSP account and deposit money into it as it is a Tax shelter. If you have children then also open up an RESP account (which is good for 26 years) and is also a tax shelter. There are many other ways to get back money from taxes, you just have to find the loopholes...did you move within the last year to start school or start a new job...moving is a tax deductible expense. Do you earn commission as a lot of the things you do to earn the commissions are tax deductible...anyways hope this helps.

What are the tax brackets in Canada for 2007?

You didn%26#039;t mention your province, but this link has both the federal and provincial rates.

http://www.cra-arc.gc.ca/tax/individuals...

As for increasing your tax credits, RRSP contributions are actually deductions, not tax credits, but as they come off your income before tht tax is calcuated, they are a very effective way of decreasing your taxes, and often result in a refund for people who are employees. Childcare is also a deduction.

As for increasing your tax credits, pool the charitable donation credits together with your spouse, or even carry them forward, since the credit increases if the amount is over $200.

What if your earned income credit is paid to you by a private insurance?

I ask the question earlier about filing my taxes but what if your earned income is paid to you by a private insurance company and i bought a long term disability policy that pays me monthly and i had taxes taking out on it will i quilify for the earned income tax credit still

What if your earned income credit is paid to you by a private insurance?

Earned income credit is ONLY given by the US Government. A private company cannot give you a tax credit. Sorry.

That disability income is not EARNED. I am not a tax accountant - that%26#039;s who you have to ask - but I do not think it will qualify as earned income. But you can always go to the IRS website and read more about %26quot;what is earned income%26quot;.

What if your earned income credit is paid to you by a private insurance?

Not sure, but I don%26#039;t think that disability insurance payments are considered to be earned income.

What if your earned income credit is paid to you by a private insurance?

Disability payments are not earned income. The income may be taxable, but it is not earned.

What if your earned income credit is paid to you by a private insurance?

You will receive a Form 1099-R from the insurance company. The total amount paid by them gets included on line 7 of a Form 1040 if you have not reached retirement age and on line 12a or 12b if you have. Then just follow the rest of the instructions with the form.

What tax credits are there for homeowners?

Are property tax payments and mortgage interest payments tax deductible? Also are there any other tax benefits?

What tax credits are there for homeowners?

Property taxes and mortgage interest payments are tax deductible. If you have an office in your house that meets the federal requirements (discuss with your accountant), you can figure out the square footage of the office compared with the total square footage of the home and you can take that percentage of the cost of utilities, repairs, etc. off your taxes.

Tax questions about over the road truck driving?

How does the tax credit work for the number of days spent on the road? Can a cell phone line be written off if used by the truck driver for work related calls, if so is it the whole monthly fee or only minutes used? Thanks for any info.

Tax questions about over the road truck driving?

That sounds like the per diem. That is not a tax credit, but a write off. The IRS gives you a set dollar amount that can be written off every day to cover food and lodging while on the road. You would need to fill out the 2106 form and a Schedule A to take advantage of this.

$60 per day can be deducted for lodging for travel days before October 1, and $70 for lodging on or after October 1. You must show proof that a charge was made for lodging. $39 can be deducted for meals and other expenses.

If you know exactly which cities you were in on which days, you may be able to take a high deduction. See Publication 1542 for a list of maximum per diems in different cities (see link below).

As for cell phones, you can write it off it is used for work purposes. If he was required to make business calls from the road (probably), then the portion of minutes that were used for work can be written off. If half of the calls were work related, then half of your cell phone bills can be written off. You can figure this out by looking at old cell phone bills. Each call is itemized, figure out which ones were work related and which ones were not.

Car tax credits?

Anyone know how to claim the tax paid on purchasing a new car (NON-hybrid) on your tax form? I%26#039;ve heard that you can deduct the taxes you paid in a calendar year if you purchase a new vehicle (one that is personal, not for business) but I%26#039;m not sure how to claim it, or if it%26#039;s legit. Searched to no avail. Any info appreciated. Thanks.

Car tax credits?

You must be itemizing your deductions rather than claiming the standard deduction. To claim the sale tax paid it is reported on line 5 of the Schedule A. You have a choice of claiming State and Local Sales Tax or State and Local Income Tax.

If you are not itemizing this would not be claimed on your tax return

Publication 600

http://www.irs.gov/newsroom/article/0,,i...

Car tax credits?

If you are itemizing you can deduct state and local income tax or state and local sales tax but not both. There is a table you can use based on gross income. In addition certain items such as sales tax on cars can to added to the amount in the table.

First time home buyer with tax questions!?

I know it%26#039;s a huge %26quot;all up in the air%26quot; question where no one will really know unless they saw my numbers. Although, I wanted to know how much of the mortgage interest you actually get back. How much of a difference will it make on my return?

I%26#039;m horrible at taxes, and tax refunds....it%26#039;s really a different language to me.

Also, I was told by someone that you can claim energy star/energy efficient home improvements as a deduction. I thought you could only do that when you sell the house....am I wrong?

Also, this Earned Income Tax Credit....

Do they base that on your actual earnings? Or is it on your adjusted income?

Thanks in advance for all of your answers....

First time home buyer with tax questions!?

The mortgage interest that you pay goes on a schedule A. Added to this interest are other items such as real and personal property taxes, also sales tax (you can use the safe harbor method and is easier to figure then to add up all of purchases), Medical bills (including prescriptions, dentists, eye doctors and mileage to and from the doctors), medical insurance, charitable contributions, as well as any employee business expenses that you might have that are unreimbursed. If all of these add up to more than your standard deduction then you will save money using them. The amount of money that you save is not a set amount but how much taxes you save based on your itemized deductions verse standard deduction.

There is also a residential energy credit that you might qualify for based on the energy efficiency of you house. Things that can qualify are certain windows, doors, roofs, insulation, and also some furnaces and air conditioners. This is figured on form 5695 and is limited to $500 credit but is different based on what qualifies you for a credit.

The earned income tax credit is based on your adjusted income, or your actual earned income whichever creates a smaller credit.

First time home buyer with tax questions!?

visit library they have good books on this stuff. or visit IRS.gov - they got good info.

understand %26#039;mortgage interest%26#039; works this way . You give ur hard earned money to some one so u can save paying the IRS.

i prefer to keep my money and pay. i come out better.

the house mortgage fallacy continues.

First time home buyer with tax questions!?

I am a disabled veteran and don%26#039;t pay income taxes. But I remember this much and I aced Accounting in college. To claim mortgage interest and other deductions you must fill out the %26quot;long form%26quot; edition of the 1040. Here are a couple of financial tips for you overall. Mortgage interest is %26quot;front loaded%26quot;. Get someone with Accounting experience to print you out a %26quot;mortgage amortization schedule%26quot; and you will see that if your principal and interest (P %26amp; I) cost say $1000/monthly. Using that figure your very first mortgage payment about $50.00 goes to the principal and the rest to the interest. On a 30 year mortgage it takes over 22 1/2 years before half the monies you pay go to principal, and half to interest. From the first payment through the 270th more of your money goes to interest than principal. If your lender did not preclude it try to set it up so that you pay your mortgage bi-weekly (every 2 weeks) as that will give you 13 monthly payments per year and that effectively reduces your mortgage from 30 years to less than 23 years. Pay %26quot;additional principal payments%26quot; whenever you have extra money. Ask someone who knows finance and computers as they can tell you what software to get to get yourself an amortization schedule. FYI- a $200,000 mortgage actually costs you about $650,000 if you have a traditional 30 year mortgage and don%26#039;t make any additional principal payments. Good luck. The rule of thumb (before the idiotic lenders started giving mortgages to everyone) used to be your mortgage could not cost more then 28-31% of your income.

Tax Credits are they really making the poverty divide between middle class and lower class wider?

When discovering you have been overpaid by the Inland Revenue for your Child Tax or Working Tax and you are on a low wage or on benifits and you are expected to make a repayment.

Especially when the error is theirs. i.e. They have no record on their main screen of making payments, as according to their current claim record %26quot;No, the payments not from us!%26quot; When they finally acknowledge its payments from a OLD claim you are getting due to a technical fault and you will have to repay it, oh,....and you may well continue to recieve these payments as %26quot;I%26quot; cant stop them!??? Go figure? Any one else had this problem?

Apparently there has been a new government commission set up to deal with these probs. In the meantime, now being on benifits I dont have the funds just to magically repay this. Ok so the post office only sends statements every 4 months and Im not so critical I tally up everything and it wasnt till I had to list benifits there was one which didnt tie up with paperwork.

Help? ??

Tax Credits are they really making the poverty divide between middle class and lower class wider?

i have not had this problem myself but know of people who have and its really distressing for them it always seems to be the honest people who suffer as well the ones who make a living out of cheating don%26#039;t seem to get this problem

Tax Credits are they really making the poverty divide between middle class and lower class wider?

Yes we have had the same trouble and are having to repay money every month beause of their over payment as i told them our money had gone up, its not fair you have to pay it back if you had money you would not be claiming it i feel we were sucked in as if we did no owe money we would have stopped it before now.

Tax Credits are they really making the poverty divide between middle class and lower class wider?

we were overpaid by 3 grand, we honestly couldnt tell if it was a mistake or a back payment, so we gradually spent it, then about 2 years later we get a %26#039;bill%26#039; for 3k and some paying in slips, lol!!! In the end we arranged to pay off 鎷?0 a month, having no disposable income (theres a reason we get tax credits!!) so its going to take ages!!! At least we dont have to pay interest on the overpayment...They said if we couldnt afford that we could drop it to 鎷?0 a month. You need to phone the special office for tax credit overpayments, 0845 300 3904, and tell them you cant pay it all, and they will ask for income and expenditure and then work out a payment amount for you.

Will the court take tax returns for child support back-pay even if it is filed jointly?

My husband is paying child support for child he didn%26#039;t know he had for 4 years thus he has to pay back-pay. He never misses a payment that includes paying on the owed child support. We file our taxes jointly and get a child tax credit for our own child, can the court take this money?

Will the court take tax returns for child support back-pay even if it is filed jointly?

Yes they will take it all unless you file an %26quot;injured spouse%26quot; form. Then they will only take his portion of the tax refund.

Go to WWW.IRS.GOV to download form (8379) and instructions

Will the court take tax returns for child support back-pay even if it is filed jointly?

Yes

Will the court take tax returns for child support back-pay even if it is filed jointly?

Yes they will. You can file an injured spouse form, but then you lose any earned income credit you would get for your children if you have any. You alson can%26#039;t e file when you do the injured spouse form. They usaully don%26#039;t take all of it, so I would file let them take some and get that debt payed down so it is one less thing you have to worry about

Will the court take tax returns for child support back-pay even if it is filed jointly?

If your husband is at least $500 behind %26amp; 3 months, then yes they can take his tax return money for the back support. Now wether or not they can take your share of the tax return depends on what state you live in. Not what state the child lives in, you. If you live in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin then yes they can take your share of the tax return too. These 9 states are considered community property states, and new spouses are considered just as legally liable as the the paying parent is for child support. Now if you do not live in one of these 9 states, and your husband is $500 behind, all you have to do is file and injured spouse form 8379. You can only use this form if you had income in the year you are using it for. If for example your husband makes all the money and you are a stay at home mom, you had no recordable income, then you cannot use this form. You can file this form all by itself if you already filed your taxes, or if you haven%26#039;t filed yet, simply attach it to your return. Using this form WILL delay your return approx. 2-3 months, but if you are entitled to money that you don%26#039;t want going to child support it is worth it. Since you have a child together and probably get EIC credits you will have to file married filing jointly if you want your EIC credits. An injured spouse form is all about what percentage of the income and deductions are yours verses your husbands, so you will only get what is considered your share of the return back, and his share will still be sent onto child support, if he is far enough behind that is. Now if the amount of his share of the return is larger than what his back support is, child support will only take enough to zero out his balance, and the rest will be returned to him.

You should get a letter from both the IRS and the child support office if they are planning on taking his taxes. It will outline exactly how much they want, case #%26#039;s, etc. If his order was only recently setup then child support has not had enough time to ask the IRS for the tax return offset, and they may not even touch his taxes this year. Child Support only has until like Oct or Nov to ask the IRS for an offset, they have deadlines too.

How do you feel about the $400 billion tax hike being proposed by the liberals?

It will hit poor as well as rich so don%26#039;t think you are immune. Some of the proposed items include: Raise the 10% tax bracket to 15%, causing families who previously owed nothing to now pay taxes! Eliminate the marriage penalty, averaging $2,899. 3) Cut the Child Tax Credit in half involving over 31 million families. Old folks on fixed incomes will see taxes go up 156%. Single women will see taxes increase by $2,068.

How do you feel about the $400 billion tax hike being proposed by the liberals?

I just pray that there is a sensible Republican elected or the whole thing can just go bust.

How do you feel about the $400 billion tax hike being proposed by the liberals?

How do you feel about the $400 billion spending hike by the conservatives?

How do you feel about the $400 billion tax hike being proposed by the liberals?

I feel fine, because it%26#039;s not true.

I feel real fine about the tax increase they have proposed for the wealthiest 10% which will reverse the Bush tax breaks for the most wealthy.

I feel fine about no more tax breaks for Big Oil they have proposed. Another Bush - Cheney decision that ripped off tax payers. All while oil companies raised gas prices through the roof and had the largest profits ever recorded.

I feel fine about the proposal to close all the Corporate loop holes provided, yeah once again by the Bush Administration.

These are some of the REAL changes being proposed by the democrats.

Ripping off the poor and middle class has already been happening the past 6 years and it wasn%26#039;t at the hand of the Democrats. It was the Bush-Cheney Administration.

How do you feel about the $400 billion tax hike being proposed by the liberals?

as long as my welfare check comes on time I don%26#039;t really care...

How do you feel about the $400 billion tax hike being proposed by the liberals?

Interesting Question

~

President Bushs' New Tax Law?

Is it true that Bush signed some sort of bill that will now give people like $1,600 back on taxes (not a tax credit, actual money) if they made less than like $80,000 in the year? I heard it was to try and help boost the economy.. just wondering if it was true.

President Bushs%26#039; New Tax Law?

There is a proposal, not a law along those lines but I think it maxed at $800, not $1600. Right now, it%26#039;s just a lot of talk......nothing is remotely close to being signed into law.

President Bushs%26#039; New Tax Law?

i did here that was true and i think its $800 if your single and $1600 if your married. I do believe that they are working on getting it to Bushes desk and then he has to pass it.

President Bushs%26#039; New Tax Law?

First of all, this is a PROPOSAL, not a done deal. Nobody gets anything unless Congress passes a rebate, and if they do, there%26#039;s no guarantee that it will match what the president talked about in his speech.

As proposed though, it is a REBATE on taxes - so only people who pay taxes would get it. The proposal was to eliminate charging tax on the 10% bracket, the lowest bracket.

President Bushs%26#039; New Tax Law?

Not yet.

Can I get back some of the tax refund money that was offset for student loans?

My husband and I filed married jointly. The IRS approved a refund but it was offset because of a student loan in state default. He was going to school and then in 2005 I miscarried and was in bad shape so he had to quit school and take care of me and our other child. We just found out the treasury department took all of our tax refund because of his defaulted loan. I didn%26#039;t work last year because I was put on bed rest with this last preg. At least 2 months prior to filing taxes he had already made arrangements to make payments the collection agency for the student loan and they new that he would start making payments after getting our refund because could have paid off some other smaller bills and gotten caught up on rent, which would have freed up money to make monthly payment to them. They said nothing about a default.

Can I get any of the money back, I am not in default or anything? At least the child tax credit? We desperately needed that money. Is there any hope?

Can I get back some of the tax refund money that was offset for student loans?

Actually, YES, there is hope. It is under %26quot;Injured Spouse%26quot; clause. If you are under extreme financial hardship, you may be able to get SOME of your refund back. It is a difficult process (be prepared to send copies). Good luck to you.

Try this website:

http://www.ed.gov/offices/OSFAP/DCS/disp...

* 9 months ago

I'm on Disability/SII - can I get a tax refund check? Please help.?

I%26#039;ll try my best to give any info that can help you help ME figure out if I can get a check %26amp; fill out these forms. If you need more info, let me know %26amp; I%26#039;ll add the details.

I%26#039;m 25 / a single mom of 2 kids. The only income I got in %26#039;07 was SSI %26amp; Social Security Disability (the disability check was $190/month, SSI - ??)

I%26#039;ve got a 1040A form but I can%26#039;t figure out how to fill it out %26amp; if I need any other forms. I don%26#039;t know what to fill out for line 14b (taxable amount for social security), line 30 (credit for the disabled - Schedule 3), line 32 (child tax credit), %26amp; line 40a Schedule EIC?. Also do I need form 8901? Could my parents have filed my kids since they financially provide for them, %26amp; if so is it to late to do that? I have never filed taxes, should I be able to since I get SSI %26amp; disability?

I receive approximately $650 a month and I%26#039;ve got 2 kids, and somehow the gov%26#039;t thinks that this is enough to provide a life. They claim this is maximum me %26amp; my kids can get.

I%26#039;m on Disability/SII - can I get a tax refund check? Please help.?

SSI does not qualify as income for the rebate. only your disability would cound towards the rebate and if you got 190 a month for SSD you come up short of the 3000 needed. Sorry

I%26#039;m on Disability/SII - can I get a tax refund check? Please help.?

It really depends on the state you live in. If your state has state tax they usually offer a sales tax credit refund for low income families. Your income was not sufficient to be required to file a federal income tax form. You can only get tax breaks and the earned income credit on earned income. Your disability and ssi are not taxable. If your income was not earned income, you can not file on your children. Usually, if your state offers a sales tax refund, you would have already receieved a check from the Department of Human Services. I think the bright spot in all of this is the fact that the additional rebates that are coming out in May or June are definitely coming. You will not qualify for the $600 but you do qualify for $300 being on social security. Hope this helps!

How can I decrease my federal tax withholding?

Is there any way to decrease the amount of tax withheld from my paycheck? On my W-4 I already have 9 dependents-we have 4 children, just so we can keep more of our money from being withheld, and I believe that is our limit according to my accountant. We have only 1 income for a family of 6 people, and we are in the lowest tax bracket (15%), I already put 12% in our 401K and a large amount into an FSA for medical expenses. Due to the child tax credit, our refund is very large each year (over $5000!). Is there any way to keep more of our money each month instead of the government holding onto our money until we receive our refund?

How can I decrease my federal tax withholding?

You should be able to increase your W-4 allowances in order to reduce that year-end refund to a reasonable level.

Your accountant is referring to an IRS rule where an employer was required to forward W-4s claiming more than 10 allowances to the IRS. It%26#039;s not required anymore, but you should be prepared to provide proof because the IRS may ask your employer at some point to forward those W-4s.

A combo of your previous year%26#039;s return and the W-4 allowance worksheets where you calculated the max number of allowances you could take should be sufficient proof. But you should stick to what your accountant advises. After all, you%26#039;re paying good money for that advice.

How can I decrease my federal tax withholding?

You can add allowances until your withholding aproximates your ultimate liability. At your bracket each allowance reduces tax withholding by $525 per year or $20.19 per biweekly pay period.

How can I decrease my federal tax withholding?

Change your with holdings to exempt they will not take any taxes. The bad part about doing this is by paying no taxes you may end up with a bill.

Many people do this for 6 months out of the year so it kinda evens out.

How can I decrease my federal tax withholding?

Getting a $5000 refund each year IS proof that you could take more allowances. You could raise it a few more without having a problem. This asssumes that with the 9 you currently show, they are taking anything out for federal income tax - if they aren%26#039;t, then increasing the allowances wouldn%26#039;t make any difference.

If you are receiving EIC, you can also file a form W5 with your employer, and get some of that through the year also.

Why Don't People Seem to Know About Obama's "Making Work Pay" Permanent $1000 Ta

From Obama%26#039;s Web Site:

%26quot;Provide a Tax Cut for Working Families: Obama will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama will create a new %26quot;Making Work Pay%26quot; tax credit of up to $500 per person, or $1,000 per working family. The %26quot;Making Work Pay%26quot; tax credit will completely eliminate income taxes for 10 million Americans. %26quot;

http://www.barackobama.com/issues/econom...

Why Don%26#039;t People Seem to Know About Obama%26#039;s %26quot;Making Work Pay%26quot; Permanent $1000 Tax Cut?

Because they are all too busy saying they don%26#039;t know what Barack stands for, and he never gives specifics...

Why Don%26#039;t People Seem to Know About Obama%26#039;s %26quot;Making Work Pay%26quot; Permanent $1000 Tax Cut?

I lot of ideas won%26#039;t happen and also He will raise taxes for health care and if he is elected president tons of tons of illegals immigrants will enter the US

Pending Tax Refund this year?

So there%26#039;s all this talk of a tax credit this year, that is still awaiting approval in our government. But I%26#039;m curious about two things.

1. It won%26#039;t be approved to effectiveness til May, does that mean we have to file twice now?

and

2. do you think it should include extended unemployment benefits?? This seems to be the big debate and hold up in the process.

Pending Tax Refund this year?

You are never to file twice in one year.

Unemployment benefits and the rebate issue do not have anything to do with each other.

Pending Tax Refund this year?

well, they have approved it and the unemployment is not included. As for filing twice, that is not what is going to happen. They will wait until you file your taxes. That is how they will know how much you will get. If you don%26#039;t file, you don%26#039;t receive anything. They are basing it on how much you make, how much you paid in and how much your tax liability is. Good luck.

Government tax refund. How much to expect?

Each year I have to file a different amount of dependents. My ex and I switch off. We have 3 kids together. One year he claims one and I claim 2, and then the next year we switch. But I always list all 3 kids for the additional child tax credit, which I know is okay to do since they all live with me. So with this additonal refund coming this summer how is the government going to determine what to give me? Will I get the amount for all 3 since they actually live with me?

Government tax refund. How much to expect?

No one knows yet as we%26#039;re waiting for the SEnate to act. It%26#039;s still just TALK.

Government tax refund. How much to expect?

Go to HR Block website they have a tax return estimator and it%26#039;s pretty accurate.

Government tax refund. How much to expect?

No, no, no, you need to amend.

When you %26quot;switch off%26quot; you are signing a form 8332 to the non-custodial parent. This includes both the $3400 exemption AND the child tax credit. The additional child tax credit is part of the child tax credit, so you can%26#039;t claim all the kids on that form if you didn%26#039;t claim all of the kids as dependents in the first place.

As for the rebate, the IRS will guestimate based on what is shown on your 2007 taxes. If there are 2 kids on the form, they will think you are filing 2 in 2008.

Child tax credits help?

Hi i`m just looking for some help on understanding the outcome of the online questionaire i just filled out, It says that me and my partner would be entitled to 鎷?44 from 24/3/08 until the 5/4/08 which is only a few weeks away, so does this mean we would receive this 鎷?44 every month or is this spread out over the tax year? thanx for any help.

Child tax credits help?

This would only give you the amount in total from the dates you have given, as it%26#039;s the end of the financial year on April 5th.

You will need to re-do the online questionnaire, after 5th April to give you a more accurate figure to see what you would be entitled to for in the new financial year.

Child tax credits help?

not sure if i was you i would call them in the morning

Child tax credits help?

That%26#039;s just for March, then they%26#039;ll have to work it out again. Tax credits are extremely complicated and even HMRC get it wrong. The 鎷?44 is probably for the whole of the tax year 2007/08. Ask your local Citizens Advice Bureau to check the calculations for you. (I%26#039;ve got the program, but I%26#039;d need to ask you a lot of questions).

Child tax credits help?

it refers to the month up until the end of the tax year. they may want to reassess your situation after April.

Child tax credits help?

Tax credits ar always based on the previous financial year; for this year which ends on 4/4/08 and commenced on 5/4/07 the earnings for the year 5/4/06 to 4/4/07 were considered.

In short, you will always be one year behind.

Your award for the year 06/07 is the one you mention - the one you now need to tell them about is 07/08 which will give your award for 08/09.

By phoning the relevant number on tuesday, giving your NI number and income details, you should be able to establish new terms for the coming financial year.

Good luck.

Child tax credits help?

Sounds like it%26#039;s 鎷?44 from today until the end of the tax year (5th April). Sounds good - nice bit of extra cash!

The website questionnaire just gives you an approximate amount that you could get based on your circumstances. You%26#039;ll probably have to phone them to get everything sorted. You won%26#039;t know for definite what money you will get until you receive the confirmation details in the post.

Child tax credits help?

The 鎷?44 is until the 5th April 08. You can do it again just manipulate the dates/wages a little for the next tax year figure for a rough estimate.

Remember that it starts from the day they recieve your application. Good Luck also some people are entitled/exemped from dental/prescription charges/ free school meals because they claim these benefits.

Child tax credits help?

not sure. i think from what you have written, you will get that amount of money as a one off payment from 24/3/08 - 5/4/08. there should be a phone number for you to call so you can get this claryfied. tax credits all depend upon your income. a friend of mine gets 鎷?50 odd a month, i get less than 鎷?5 a month. to receive 鎷?44 a month is a lot of cash - my friend earns a fair wage but doesnt get anywhere near that amount. if you are entitled to that though good on ya!

Child tax credits help?

hi hunny that will be for the whole year they should give people more money tho shouldnt they i am a single parent and i have to live on 鎷?6 a week i am one of the few who wants to work and find it so hard to get a job that fits in with taking my daughter to school.

Child tax credits help?

this is the amount ur entitled to for the rest of this tax year but they will reassess based on last years income and tell u the new amount. when they write to tell u what u are entiteld to they explain what they will pay and on what date. get yr application in asap as they cant backdate beyond the date of yr application form.

Can a creidtor take your whole tax return for a judgment owed?

a creditor has threatned to take our tax refund to pay a judgment against my husband can they take the whole tax refund including state? They have already garnished his weekly check by 20%. we have four children can they take the child income tax credit too/

Can a creidtor take your whole tax return for a judgment owed?

Your creditor cannot have direct access to your tax accounts. Unless, that is, if the creditor is the state or federal government OR an agency guaranteed by one of them. So if yo haven%26#039;t paid your student loans, then YES, your refunds are fair game.

Tax Specialist

Can a creidtor take your whole tax return for a judgment owed?

no they can not. Unless they get another court order. Do they have access to your checking account?

Can a creidtor take your whole tax return for a judgment owed?

Creditors must file a Writ of Garnishment for Income Tax Refunds. Is it possible for them to take all or part of your refund to repay the debt? Maybe. You need to check with your state%26#039;s garnishment laws or consult an attorney, as your refund (all or part) may be excluded from garnishment.

If I have zero tax liability, can I still take the HOPE education credit and receive a refund?

I am disabled and have zero earned income but I do pay for education.

If I have zero tax liability, can I still take the HOPE education credit and receive a refund?

If you have no income that is required to be claimed on the Federal Tax return, you would not be eligible to claim the Hope Credit, This is a credit that helps reduce your Tax liability, It is not a refundable credit.

1-800-829-1040

Child tax credits overpayment?

I was informed by someone working in the tax office that me as the childs father was entitled to child benefits if the child was shared 50% by parents, the child was staying over night with me for half of the week and the other half with the mother so i was entitled to benefits, so i received from the tax office after asking them if i could claim they said yes, so i filled the form out and claimed, after about a year they changed the system and only one parent could claim, so i let the mother be the soul claimer, they now say that i shouldnt have got benefits, i filled out the form honestly with all the details, now someone read that form prossesed it and sanctioned the payments, surely they are at fault and not me!!! please only sensible mature answers.thanks in advance.

Child tax credits overpayment?

APPEAL!!

Child tax credits overpayment?

I had a similar problem with tax credits! they processed my form incorrectly and i was over payed! When i contacted them they said i should have known i wasnt entitled to that much money! How was i supposed to know? thats their job not mine! I filled the form in correctly so i wasnt at fault! Anyway to cut a long story short i am still in arrears and after many many many letters they havent been able to come up with my original form (which i have asked for a million times) and are still not admitting fault! Im waiting for them to take me to court then they can explain to them where the %26quot;missing%26quot; form is and how i could possibly know i was being overpayed when i filled the form in and THEY sort the payments out not me!!!!

Child tax credits overpayment?

Surely they can only stop benefits from when the system changed?

I read that if the overpayment is down to the tax offices mistake you don%26#039;t have to pay the money back.

I don%26#039;t have a straightforward reply as to what to do about this.

Contact your local citizens advice beureau. They should have someone who can help.

Child tax credits overpayment?

yes they were at fault, you like so many including me, have been told this, you can appeal but really don%26#039;t bother as they won%26#039;t read the letter and still claim the money back, I moved to France and told them I was moving, and they sent the new claim forms to my address in France, I was surprised that they allowed me this credit but assumed they knew what they were doing, now they want it back and the reason is %26quot;because I didn%26#039;t tell them I was living in France%26quot; dumb huh You can get a copy of your dossier, under the freedom of information act, if you really did tell them everything your claim form will prove that, and you can fight back, get a solicitor, this is what I am doing, don%26#039;t know how it will pan out yet though Best of luck

Child tax credits overpayment?

the tax credits system is a joke and should be scrapped, i owe them 鎷?00 because of them not processing information correctly, i appealed and sought advice from citizens advice but everyone i spoke to has said the the tc office rely on us to constantly check the details they hold and if this is not done then we are liable for repaying overpaments. please try to appeal as your is a different situation to mine so you may get more luck.

Child tax credits overpayment?

Only one person can receive child benefit or tax credits for each child. If you were to claim it and an award is already made to somebody else for the child, they should have contacted that person and got their permission that the claim can be transferred into your name. You cannot be held responsible for them not doing that.

The law stinks. According to the CSA, if you have joint custody of a child, then they say that the amount of maintenance you have to pay is reduced by half. However which parent would be expected to pay that maintenance, and how would that be fair?

I would make a deal with your wife to swap the tax credit claim to each other on alternate years.

Child tax credits overpayment?

If the law changed after you claimed your child they can not make you pay it back however if it was in affect at the time you claimed your child then yes. If a tax company did your taxes then they are responsible for paying the money back but of course if you did them then you are. Sorry

Child tax credits overpayment?

That%26#039;s ridiculous!!

Why do they keep cocking up?

Aren%26#039;t these the same people that just gave our childrens naes, date of births, our names %26amp; national insurance numbers to everyone?

I really would appeal as no doubt you would have ut that information into the form, so as you said, they were the ones that processed the forms and came up with the decision!!

As everyone has said, go to the CAB -it%26#039;s free, helpful advice.

Good luck :D

Child tax credits overpayment?

Appeal is your right and legal way.

I received a similar letter about overpayment, they said I would be informed how I should give back the overpayment but 3 months has passed and I didn%26#039;t receive any letter from them giving me both the instruction and how they calculated it.

Child tax credits overpayment?

Unfortunately you are in a no win situation. It has never been possible for a child to be part of 2 families at the same time for the purpose of claiming benefits or tax credits.

The line that HMRC will take is that it is the responsibility of the individual to identify what financial support they may be entitled to. They will also refer you to several leaflets that will point out that you were not in fact entitled to claim if the mother of your child was already receiving financial aid.

I know this is what you did not want to hear but I%26#039;m afraid these are the facts.

If you still believe you have a case, you could go down the line of the complaints procedure, a leaflet explaining the system is available on request, and ask for the issue to be rectified. Continue this by asking for redress (financial compensation) for unnecessary botheration and personal intrusion cost of phone calls etc especially if you can recall when you made any phone calls and ask for a transcript of any conversations as all calls to the call centres are recorded. This possibly could write off your overpayment or reduce it somewhat.