I have a IRS lien filed against my Real Estate. How long do I have before the property is placed for auction?
Q. A lien was recently [July, 2007] placed by the IRS against a piece of Real Estate in New York that is owned by an Estate that I am the Executor of. How long do I have from the time the lien was placed by the IRS to the time that the IRS forces the property for sale or auction? If the property is forced for sale or auction by the IRS is there some type of redemption period that I have? The Estate does not want me to sell the Real Estate. The estate will be able to pay the IRS what it owes within three months. Do I have that much time before the property is placed to auction or sale?
Asked by FineArt1983 - Tue Aug 28 21:25:23 2007 - - 6 Answers - 0 Comments
A. The IRS will not always force a sale. but as executor of the estate, you are required to settle all debits before the probate court closes the estate; so unless you have cash to settle, you'll have more issues with the probate court for failure to fulfill your job as executor than the IRS. Sell If you contact the IRS and advise them you are closing out the estate and need 90 days to pay out the lien, they will gladly accept that.
Answered by wizjp - Tue Aug 28 21:33:06 2007
Q. A lien was recently [July, 2007] placed by the IRS against a piece of Real Estate in New York that is owned by an Estate that I am the Executor of. How long do I have from the time the lien was placed by the IRS to the time that the IRS forces the property for sale or auction? If the property is forced for sale or auction by the IRS is there some type of redemption period that I have? The Estate does not want me to sell the Real Estate. The estate will be able to pay the IRS what it owes within three months. Do I have that much time before the property is placed to auction or sale?
Asked by FineArt1983 - Tue Aug 28 21:25:23 2007 - - 6 Answers - 0 Comments
A. The IRS will not always force a sale. but as executor of the estate, you are required to settle all debits before the probate court closes the estate; so unless you have cash to settle, you'll have more issues with the probate court for failure to fulfill your job as executor than the IRS. Sell If you contact the IRS and advise them you are closing out the estate and need 90 days to pay out the lien, they will gladly accept that.
Answered by wizjp - Tue Aug 28 21:33:06 2007
Will IRS is responsible to waste my time to provide them extra documentation?
Q. If IRS audits me and all of my return is correct, Will IRS is responsible to waste my time to provide them extra documentation?
Asked by tax savvy2 - Mon Apr 7 22:14:47 2008 - - 1 Answers - 0 Comments
A. The IRS can question any item on the tax return, ask for supporting documentation when a deduction exceeds their established parameters. It doesn't matter if the return is fully accurate.
Answered by googie - Mon Apr 7 22:26:41 2008
Q. If IRS audits me and all of my return is correct, Will IRS is responsible to waste my time to provide them extra documentation?
Asked by tax savvy2 - Mon Apr 7 22:14:47 2008 - - 1 Answers - 0 Comments
A. The IRS can question any item on the tax return, ask for supporting documentation when a deduction exceeds their established parameters. It doesn't matter if the return is fully accurate.
Answered by googie - Mon Apr 7 22:26:41 2008
With IRS energy tax breaks no longer deductible in 2009, what else can I do to write off my taxes?
Q. 2008 Income Taxes--How to negate the damaging effects of deductions that will be taken away from the IRS effective 2009. Found out that doing energy-saving write-offs for your IRS taxes will no longer be deductible in 2009.
Asked by charlessmith702210@sbcglobal.net - Mon Apr 14 10:55:09 2008 - - 3 Answers - 0 Comments
A. Read about: - adjustments to income: - itemized deductions:
Answered by Brian J - Mon Apr 14 15:56:52 2008
Q. 2008 Income Taxes--How to negate the damaging effects of deductions that will be taken away from the IRS effective 2009. Found out that doing energy-saving write-offs for your IRS taxes will no longer be deductible in 2009.
Asked by charlessmith702210@sbcglobal.net - Mon Apr 14 10:55:09 2008 - - 3 Answers - 0 Comments
A. Read about: - adjustments to income: - itemized deductions:
Answered by Brian J - Mon Apr 14 15:56:52 2008
What is the intent behind the IRS standard for gas mileage reimbursement?
Q. I know that currently the IRS standard for gas mileage reimbursement is .48 cents per mile. Is it mandatory for an employer to reimburse at this amount? What is the IRS intent behind setting the reimbursement amount at this amount? When When I cut reimbursement checks for employees in the firm it seems like a lot of money for driving to and from Office X. The IRS must have intended that the reimbursement cover more than just gas. Does anyone know of specific sources?
Asked by Smita - Sat Nov 3 15:15:19 2007 - - 4 Answers - 0 Comments
A. The reimbursement covers all vehicle costs including; gas, oil, deprecation, maintance and lease payments. see put 463 p15 & 16
Answered by Charlie & Angie G - Sat Nov 3 17:14:37 2007
Q. I know that currently the IRS standard for gas mileage reimbursement is .48 cents per mile. Is it mandatory for an employer to reimburse at this amount? What is the IRS intent behind setting the reimbursement amount at this amount? When When I cut reimbursement checks for employees in the firm it seems like a lot of money for driving to and from Office X. The IRS must have intended that the reimbursement cover more than just gas. Does anyone know of specific sources?
Asked by Smita - Sat Nov 3 15:15:19 2007 - - 4 Answers - 0 Comments
A. The reimbursement covers all vehicle costs including; gas, oil, deprecation, maintance and lease payments. see put 463 p15 & 16
Answered by Charlie & Angie G - Sat Nov 3 17:14:37 2007
How does the IRS investigate tax evasion if someone has been paid cash their not reporting?
Q. If you turn someone in to the IRS for tax evasion when they've been paid with cash, does the IRS investigate bank records, etc to see if income amounts exceed the amount reported on income taxes?
Asked by mynameis - Fri Jul 25 11:57:34 2008 - - 4 Answers - 0 Comments
A. Most of the time they are alerted by lifestyle issues. If you have a mortgage or property tax on a $500,000 house and did not file a tax return you are going to get a visit. In California the TB just uses a formula to guess at you income and force you into proving otherwise.
Answered by Mathew - Fri Jul 25 12:12:13 2008
Q. If you turn someone in to the IRS for tax evasion when they've been paid with cash, does the IRS investigate bank records, etc to see if income amounts exceed the amount reported on income taxes?
Asked by mynameis - Fri Jul 25 11:57:34 2008 - - 4 Answers - 0 Comments
A. Most of the time they are alerted by lifestyle issues. If you have a mortgage or property tax on a $500,000 house and did not file a tax return you are going to get a visit. In California the TB just uses a formula to guess at you income and force you into proving otherwise.
Answered by Mathew - Fri Jul 25 12:12:13 2008
How does the IRS determine how much to garnish out of a social security check?
Q. We recently found out that the IRS is garnishing my dad's social security check as well as his part-time paycheck due to previous unpaid taxes. Is this something they determine by a percentage? He has had emergency heart surgery, several complications, and it doesn't look like he'll be getting back to that part-time job. So would the IRS take less out of his social security check now? He won't have enough to live on if they don't decrease what they're taking out. Thanks for any help out there.
Asked by georgia_peach - Sun Apr 22 16:41:36 2007 - - 4 Answers - 0 Comments
A. You father needs to call the irs asap and make an agreement with them. An IRS garnishment (levy) is one of the worst. There is not a percentage they take, they take everything except a minimum to live on. Here is the chart of amounts exempt from levy for 2006 and 2007.
Answered by Mom of 2 - Sun Apr 22 18:52:40 2007
Q. We recently found out that the IRS is garnishing my dad's social security check as well as his part-time paycheck due to previous unpaid taxes. Is this something they determine by a percentage? He has had emergency heart surgery, several complications, and it doesn't look like he'll be getting back to that part-time job. So would the IRS take less out of his social security check now? He won't have enough to live on if they don't decrease what they're taking out. Thanks for any help out there.
Asked by georgia_peach - Sun Apr 22 16:41:36 2007 - - 4 Answers - 0 Comments
A. You father needs to call the irs asap and make an agreement with them. An IRS garnishment (levy) is one of the worst. There is not a percentage they take, they take everything except a minimum to live on. Here is the chart of amounts exempt from levy for 2006 and 2007.
Answered by Mom of 2 - Sun Apr 22 18:52:40 2007
Can the IRS hold a husband liable if his alien spouse wins the lottery in her foreign country?
Q. Filipino spouse of American citizen retired and living in the Philippines wins lottery. Can the IRS assume the husband is liable for taxes on at least half of the winnings? What if the Filipino refuses to pay?
Asked by evrrrdy1 - Tue Apr 29 20:50:49 2008 - - 3 Answers - 0 Comments
A. As long as the American citizen files a separate tax return, he has no U.S. tax liability.
Answered by Jss - Tue Apr 29 21:27:24 2008
Q. Filipino spouse of American citizen retired and living in the Philippines wins lottery. Can the IRS assume the husband is liable for taxes on at least half of the winnings? What if the Filipino refuses to pay?
Asked by evrrrdy1 - Tue Apr 29 20:50:49 2008 - - 3 Answers - 0 Comments
A. As long as the American citizen files a separate tax return, he has no U.S. tax liability.
Answered by Jss - Tue Apr 29 21:27:24 2008
How does the underpayment of IRS federal income tax work?
Q. Say for instance that my 2006 taxes are fully paid. Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars. Will I owe the IRS a penalty for this? Second senario. Say that for 2006 my taxes are fully paid. But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return. Will I owe any penalty for underpaying before the deductions are accounted for? Please let me know what my consequences are for both senarios. I want to clarify Senario 1. I mean that if I am fully paid for tax… [cont.]
Asked by unhappy - Fri Aug 31 14:25:03 2007 - - 3 Answers - 0 Comments
A. First scenario, if you didn't pay in for 2007 as much as your 2006 tax liability was, then yes there would be a penalty. 2nd scenario, no, no penalty.
Answered by PepsiLime - Fri Aug 31 14:40:22 2007
Q. Say for instance that my 2006 taxes are fully paid. Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars. Will I owe the IRS a penalty for this? Second senario. Say that for 2006 my taxes are fully paid. But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return. Will I owe any penalty for underpaying before the deductions are accounted for? Please let me know what my consequences are for both senarios. I want to clarify Senario 1. I mean that if I am fully paid for tax… [cont.]
Asked by unhappy - Fri Aug 31 14:25:03 2007 - - 3 Answers - 0 Comments
A. First scenario, if you didn't pay in for 2007 as much as your 2006 tax liability was, then yes there would be a penalty. 2nd scenario, no, no penalty.
Answered by PepsiLime - Fri Aug 31 14:40:22 2007
Does the IRS set a reimbursement for mileage on company owned cars?
Q. I know the current IRS rate for personally owned cars used for business is 50cents/mile. I have a company owned car that I use and get reimbursed 17 cents/mile for business miles. Is that 17 cents a figure that the IRS sets or my company sets? I'm told that it is the IRS but now I am skeptical.
Asked by butcher1241 - Tue Jun 17 08:59:42 2008 - - 4 Answers - 0 Comments
A. The IRS does not have a reimbursement amount required for your situation. How you are taxed on the reimbursement depends on how the employer reports your personal and business use of the car. You need to ask them about how your compensation and reimbursement will appear on your W-2. That will tell you or your tax preparer how to report this compensation. The rules for this are in the IRS Publication cited.
Answered by ninasgramma - Tue Jun 17 15:36:39 2008
Q. I know the current IRS rate for personally owned cars used for business is 50cents/mile. I have a company owned car that I use and get reimbursed 17 cents/mile for business miles. Is that 17 cents a figure that the IRS sets or my company sets? I'm told that it is the IRS but now I am skeptical.
Asked by butcher1241 - Tue Jun 17 08:59:42 2008 - - 4 Answers - 0 Comments
A. The IRS does not have a reimbursement amount required for your situation. How you are taxed on the reimbursement depends on how the employer reports your personal and business use of the car. You need to ask them about how your compensation and reimbursement will appear on your W-2. That will tell you or your tax preparer how to report this compensation. The rules for this are in the IRS Publication cited.
Answered by ninasgramma - Tue Jun 17 15:36:39 2008
Is the IRS permitted to take your disability income from you?
Q. My friend owes the IRS and they are taking part of her disability check each month. Can this happen? If not, what can she do to stop it?
Asked by dellet2 - Wed May 14 19:05:47 2008 - - 6 Answers - 0 Comments
A. Is this in payment for a debt she owed before becoming disabled, or from earnings she made after she became disabled? Once you are collecting disability from Social Security, there is a limit to how much money you can make before your benefits are reduced. If she had additional income, and did not file or pay taxes on it, then this may be a case where the IRS is allowed to garnishee her check.
Answered by It's good to be Queen - Wed May 14 19:14:23 2008
Q. My friend owes the IRS and they are taking part of her disability check each month. Can this happen? If not, what can she do to stop it?
Asked by dellet2 - Wed May 14 19:05:47 2008 - - 6 Answers - 0 Comments
A. Is this in payment for a debt she owed before becoming disabled, or from earnings she made after she became disabled? Once you are collecting disability from Social Security, there is a limit to how much money you can make before your benefits are reduced. If she had additional income, and did not file or pay taxes on it, then this may be a case where the IRS is allowed to garnishee her check.
Answered by It's good to be Queen - Wed May 14 19:14:23 2008
When does the IRS update their website for people waiting on their status of Form 8379?
Q. Does the IRS update their website everyday? I read that they only updated on Wednesday's. Is that true? Anyone that filed Form 8379 see if change to 2201 any other day off the week? Thanks! Other than refund updates, do they do any of the other updates on any other days?
Asked by HeatherK_24 - Tue Mar 11 11:11:40 2008 - - 2 Answers - 0 Comments
A. they update their web site for refunds on tuesday nights after 12 am so the site is ready wednseday mornings
Answered by Grandpa - Tue Mar 11 11:19:07 2008
Q. Does the IRS update their website everyday? I read that they only updated on Wednesday's. Is that true? Anyone that filed Form 8379 see if change to 2201 any other day off the week? Thanks! Other than refund updates, do they do any of the other updates on any other days?
Asked by HeatherK_24 - Tue Mar 11 11:11:40 2008 - - 2 Answers - 0 Comments
A. they update their web site for refunds on tuesday nights after 12 am so the site is ready wednseday mornings
Answered by Grandpa - Tue Mar 11 11:19:07 2008
irs is telling me I owe money when I've already sent a corrected form?
Q. I got a notice in June that I owed $3,800 for unreported interest earned from stocks. I contacted my tax prepareer and after I got all the necessary forms together, we sent in the paperwork to the IRS. With this paperwork, I should have owed nothing. I checked the box saying I didn't agree with their ammended return and mailed the paperwork to prove it. Now, I have received another notice from the IRS saying I owe them money. It's like they never received my paperwork from before, but I sent it certified and checked the USPS website and it has been delivered. I plan on calling my tax preparation person tomorrow, but in the meantime, does anyone know what could be going on?
Asked by roomwithaview - Sun Aug 12 10:52:26 2007 - - 9 Answers - 0 Comments
A. it's more than likely that they've crossed in the mail. Before going to your tax prep person try calling the irs number on the notice to see if they got the corrected information from you. I'm a CPA/Tax Preparer and that has happened a number of times with clients of ours. It all works out in the end though.
Answered by PepsiLime - Sun Aug 12 11:39:16 2007
Q. I got a notice in June that I owed $3,800 for unreported interest earned from stocks. I contacted my tax prepareer and after I got all the necessary forms together, we sent in the paperwork to the IRS. With this paperwork, I should have owed nothing. I checked the box saying I didn't agree with their ammended return and mailed the paperwork to prove it. Now, I have received another notice from the IRS saying I owe them money. It's like they never received my paperwork from before, but I sent it certified and checked the USPS website and it has been delivered. I plan on calling my tax preparation person tomorrow, but in the meantime, does anyone know what could be going on?
Asked by roomwithaview - Sun Aug 12 10:52:26 2007 - - 9 Answers - 0 Comments
A. it's more than likely that they've crossed in the mail. Before going to your tax prep person try calling the irs number on the notice to see if they got the corrected information from you. I'm a CPA/Tax Preparer and that has happened a number of times with clients of ours. It all works out in the end though.
Answered by PepsiLime - Sun Aug 12 11:39:16 2007
Why does the IRS tax at a stated rate which it then allows as a deduction resulting in a different rate?
Q. If I earn 100 dollars taxed at 15% but then deduct that 15% of 100 from my income, then I am really not paying 15% but 85% of 15% or 12.75%. So why doesn't the IRS just tax at a rate of 12.75% in the first place?
Asked by Jeremy C - Wed Apr 23 15:53:23 2008 - - 3 Answers - 0 Comments
A. I assume that you are inquiring about self employment tax, even though the numbers aren't quite right. If you're inquiring about something else, a more explicit question would be useful. First, IRS does not tax anything. Congress has imposed an income tax and a self employment tax. Congress allowed a deduction from gross revenue for half the self employment tax paid. That results in the situation you described. Congress seldom, if ever, worries about self referential provisions in the Internal Revenue Code, leaving it up to the IRS to sort out the mess. The IRS's solution is what you encounter on Schedule SE and line 27 of Form 1040. If the forms are followed carefully, you end up paying the 15.3% self employment tax on your self… [cont.]
Answered by Steve B - Wed Apr 23 19:26:26 2008
Q. If I earn 100 dollars taxed at 15% but then deduct that 15% of 100 from my income, then I am really not paying 15% but 85% of 15% or 12.75%. So why doesn't the IRS just tax at a rate of 12.75% in the first place?
Asked by Jeremy C - Wed Apr 23 15:53:23 2008 - - 3 Answers - 0 Comments
A. I assume that you are inquiring about self employment tax, even though the numbers aren't quite right. If you're inquiring about something else, a more explicit question would be useful. First, IRS does not tax anything. Congress has imposed an income tax and a self employment tax. Congress allowed a deduction from gross revenue for half the self employment tax paid. That results in the situation you described. Congress seldom, if ever, worries about self referential provisions in the Internal Revenue Code, leaving it up to the IRS to sort out the mess. The IRS's solution is what you encounter on Schedule SE and line 27 of Form 1040. If the forms are followed carefully, you end up paying the 15.3% self employment tax on your self… [cont.]
Answered by Steve B - Wed Apr 23 19:26:26 2008
When does the IRS put a 1099 against a short sale or foreclosure?
Q. I am planning on purchasing a second home and renting out my primary. I have live there for about 3 years (after 2, becomes primary). If I can not rent my home, I am planning to do a short sale or at worst, let it go into foreclosure. From what I have read, the IRS will forgive a home if it is your primary resident. Does anyone no if there is a way around a 1099 claim?
Asked by ceeze07 - Tue Sep 30 11:10:58 2008 - - 1 Answers - 0 Comments
A. IRS publication 4681.
Answered by the tax lady - Tue Sep 30 11:40:13 2008
Q. I am planning on purchasing a second home and renting out my primary. I have live there for about 3 years (after 2, becomes primary). If I can not rent my home, I am planning to do a short sale or at worst, let it go into foreclosure. From what I have read, the IRS will forgive a home if it is your primary resident. Does anyone no if there is a way around a 1099 claim?
Asked by ceeze07 - Tue Sep 30 11:10:58 2008 - - 1 Answers - 0 Comments
A. IRS publication 4681.
Answered by the tax lady - Tue Sep 30 11:40:13 2008
How does the IRS handle the millions of envelopes they recieve at tax time?
Q. How does the IRS handle the millions of envelopes they recieve at tax time? Is there an automatic opener? Do they hire more people to open the envelopes?
Asked by jhgruber2 - Sun Feb 14 09:16:13 2010 - - 2 Answers - 0 Comments
A. Randall's response was good. And yes, the IRS hires what they call "seasonal workers" to assist in submission processing. This is one of the reasons there is such a push to file electronically,
Answered by John Scott - Sun Feb 14 12:04:35 2010
Q. How does the IRS handle the millions of envelopes they recieve at tax time? Is there an automatic opener? Do they hire more people to open the envelopes?
Asked by jhgruber2 - Sun Feb 14 09:16:13 2010 - - 2 Answers - 0 Comments
A. Randall's response was good. And yes, the IRS hires what they call "seasonal workers" to assist in submission processing. This is one of the reasons there is such a push to file electronically,
Answered by John Scott - Sun Feb 14 12:04:35 2010
What would be a reason the IRS would put a hold on your income tax return?
Q. My husband is deployed right now, so I filed our income tax with a POA, everyhting was going good and then today the lady from H&R block said they could not give me my return because the IRS has a hold on it. She said it may be for past debt to the IRS, but neither I or my husband do! So could there be another reason?
Asked by Jess - Sun Jan 21 19:47:51 2007 - - 4 Answers - 0 Comments
A. Unpaid and overdue school loans, or overdue child support would be two possibilities. Also any other debt to the feds or state. You could call the IRS and ask them. Good luck.
Answered by Judy - Sun Jan 21 19:56:52 2007
Q. My husband is deployed right now, so I filed our income tax with a POA, everyhting was going good and then today the lady from H&R block said they could not give me my return because the IRS has a hold on it. She said it may be for past debt to the IRS, but neither I or my husband do! So could there be another reason?
Asked by Jess - Sun Jan 21 19:47:51 2007 - - 4 Answers - 0 Comments
A. Unpaid and overdue school loans, or overdue child support would be two possibilities. Also any other debt to the feds or state. You could call the IRS and ask them. Good luck.
Answered by Judy - Sun Jan 21 19:56:52 2007
Why would the IRS refund some and not others who are making installment payments on back taxes?
Q. I received a full refund and have been making installment payments for more than a year, but others on here say the IRS will take the refund and apply it to your balance. I'm confused!
Asked by Micki - Sat Feb 7 11:05:07 2009 - - 3 Answers - 0 Comments
A. if you owe the IRS and you get a refund, it is a mistake. They take money from your refund to pay your liability. In other words, if you have back taxes owed and you are due a refund, they take theirs first! Don't expect a check!
Answered by dizneygeek - Sat Feb 7 11:13:32 2009
Q. I received a full refund and have been making installment payments for more than a year, but others on here say the IRS will take the refund and apply it to your balance. I'm confused!
Asked by Micki - Sat Feb 7 11:05:07 2009 - - 3 Answers - 0 Comments
A. if you owe the IRS and you get a refund, it is a mistake. They take money from your refund to pay your liability. In other words, if you have back taxes owed and you are due a refund, they take theirs first! Don't expect a check!
Answered by dizneygeek - Sat Feb 7 11:13:32 2009
What does the IRS want to see for an online business?
Q. If the IRS were to audit me for my online business, what would they want to see? Thanks in advance!
Asked by curiouscat - Sat Jan 26 23:59:39 2008 - - 3 Answers - 1 Comments
A. They'll want to see ALL of your business records. Proof of income claimed and proof of all business expenses. The law requires you to keep accurate, timely, and complete business records of all income and expenses claimed. If you're claiming any personal deductions or credits -- especailly the EIC -- they'll want to see proof of eligibility for those as well.
Answered by Bostonian In MO - Sun Jan 27 00:10:54 2008
Q. If the IRS were to audit me for my online business, what would they want to see? Thanks in advance!
Asked by curiouscat - Sat Jan 26 23:59:39 2008 - - 3 Answers - 1 Comments
A. They'll want to see ALL of your business records. Proof of income claimed and proof of all business expenses. The law requires you to keep accurate, timely, and complete business records of all income and expenses claimed. If you're claiming any personal deductions or credits -- especailly the EIC -- they'll want to see proof of eligibility for those as well.
Answered by Bostonian In MO - Sun Jan 27 00:10:54 2008
How to receive IRS records from a deceased family member?
Q. I need to get IRS records of my great grand father, but he is not alive anymore. How do I get this records? I need this records in order to prove that he lived in the us, and that would be the only way to verify it.
Asked by AJV - Thu Nov 6 18:43:03 2008 - - 1 Answers - 0 Comments
A. Probably easier to verify his status with the Census Bureau. They are more willing to give the info. Had this problem proving my mom was a naturalized citizen. Or what about Social Security?
Answered by Age of Reason - Thu Nov 6 18:52:30 2008
Q. I need to get IRS records of my great grand father, but he is not alive anymore. How do I get this records? I need this records in order to prove that he lived in the us, and that would be the only way to verify it.
Asked by AJV - Thu Nov 6 18:43:03 2008 - - 1 Answers - 0 Comments
A. Probably easier to verify his status with the Census Bureau. They are more willing to give the info. Had this problem proving my mom was a naturalized citizen. Or what about Social Security?
Answered by Age of Reason - Thu Nov 6 18:52:30 2008
Making work pay IRS deduction for $400? How does that supposed to work on filing taxes for last year?
Q. I did free efile with tax software on IRS website and put that I didn't get $400 so they gave me the deduction? I thought it was supposed to be as reduced withholding taxes for working people? I guess it is totally confusing to me. I thought we only got the $8 or so extra every week. It is good that the free efile has software to do all the paperwork for you to get all the deductions you are entitled to.
Asked by sunflowers - Sat Jan 16 20:28:06 2010 - - 2 Answers - 0 Comments
A. You get $400 credit if your earned income is more than a limit. You complete schedule M (Form 1040).
Answered by Jss - Sat Jan 16 22:47:41 2010
Q. I did free efile with tax software on IRS website and put that I didn't get $400 so they gave me the deduction? I thought it was supposed to be as reduced withholding taxes for working people? I guess it is totally confusing to me. I thought we only got the $8 or so extra every week. It is good that the free efile has software to do all the paperwork for you to get all the deductions you are entitled to.
Asked by sunflowers - Sat Jan 16 20:28:06 2010 - - 2 Answers - 0 Comments
A. You get $400 credit if your earned income is more than a limit. You complete schedule M (Form 1040).
Answered by Jss - Sat Jan 16 22:47:41 2010
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