What would you like to do?
Do you have to file taxes every year?
- Technically no, if you don't have more than 4k in income, but it is smart to file even if it is zero, so you have no breaks in your tax transcript.
- Anyone may file a return. It is generally a good idea for many reasons.
- Many people who may not have to file a return (generally because their earnings are too low), will benefit substantially by doing so...because of the many government programs that provide benefits to those same people.
IRS TAX TIP 2007-12
- You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive.
- For example, a married couple under age 65 generally is not required to file until their joint income reaches $16,900. However self-employed individuals generally must file a tax return if their net income from self employment exceeds $400.
- Check the individuals section of the IRS Web site at IRS.gov or consult the instructions for form 1040, 1040A or 1040EZ for specific details that may affect your need to file a tax return with IRS this year.
- Even if you do not have to file, you should file to get money back if Federal Income Tax was withheld from your pay, or you qualify for any of the following:
- Earned Income Tax Credit. The Earned Income Tax Credit is a federal income tax credit for eligible low-income workers. The credit reduces the amount of tax an individual owes, and may be returned in the form of a refund.
- Telephone Tax Refund. The telephone tax refund is a one-time payment available on your 2006 federal income tax return, designed to refund previously collected long-distance federal excise taxes. It is available to anyone who paid long-distance taxes on landline, cell phone or Voice over Internet Protocol (VoIP) service.
- Additional Child Tax Credit. This credit may be available to you if you have three or more qualifying children or if you have one or two qualifying children and earned income that exceeds $11,300. The Additional Child Tax Credit may give you a refund even if you do not owe any tax.
- Health Coverage Tax Credit. Limited to certain individuals who are receiving certain Trade Adjustment Assistance, Alternative Trade Adjustment Assistance, or pension benefit payments from the Pension Benefit Guaranty Corporation.
- For more information about filing requirements and your eligibility to receive tax credits, visit the IRS Web site at IRS.gov listed under the related links.
- The above answers is most excellent advise for those who are liable for any tax under the applicable laws referred to in the first two answers. However, that advice can only apply to those who are liable for the tax and therefore required to file a valid tax return. The phrasing of the questions can certainly imply an acceptance of liability, but how is it known that the questioner is indeed liable for the tax in question? Who should file every year, or some years, or not at all? Who determines our tax liability? Who assesses that liability? Did the questioner assess his or her own liability, and thereby making the presumption of the first two answers a reasonable presumption? Actually yes, there is a reasonable presumption by the answers above that the questioner must be liable for the tax in question. Otherwise, why would the question even be asked? There is a tacit acknowledgment of liability simply by heeding the advice that was offered.
- Who is, by law, required to file a valid tax return? The Internal Revenue Code tells us exactly who is required to this in Sections, 6001, 6011 and 6012:
Sec. 6001. Notice or regulations requiring records, statements, and special returns,
Every person liable for any tax imposed by this title...shall keep records, render such statements, make such returns...
Sec/ 6011. General requirement of return, statement, or list.
(a) General rule.
When by regulations prescribed by the Secretary any person made liable for any tax imposed by this title...shall make a return or statement...
Sec. 6012. Person required to make returns of income.
(a) General rule.
Returns with respect to income taxes under subtitle A shall be made by the following:
(A) Every individual having for the taxable year gross income which equals or exceeds the exemption amount...
It should be clear that the only people required to file a valid tax return under Sections 6001 and 6011 are persons who are liable for or have been made liable for any tax imposed by Title 26. As far as Section 6012 is concerned if someone does not have a taxable year as the term is defined by statute, which is a taxpayers annual accounting period, then Section 6012 does not apply to that person. If someone is not a taxpayer as that term is defined by statute then that person does not have taxable year. So, how is it then, that someone would come to the conclusion they are not liable for any tax imposed by Title 26?
Before anyone can determine the true nature of their own liability for a tax imposed, that person would necessarily have to know the subject of the tax. What is the subject of the tax imposed by Title 26? Is this tax a direct tax on income with out any apportionment or is this an indirect tax on some sort of taxed activity and income is merely what is used to measure the tax? These are questions that matter if one is to accurately determine their own liability. And should not people know what taxes they are liable for and which ones they are not? If someone owes a tax, shouldn't they know the subject of that tax? If they are to believe they are required to file a valid tax return, shouldn't they at least know that they are indeed liable for the tax in question and how they came to be liable for that tax? If someone can not determine by statute, code or regulation how they are one who is subject to and/or liable for the tax, then isn't reasonable to presume they are not liable? And if they are not liable, isn't it reasonable to suggest they are not required by law to file any valid tax returns?
It must be noted that virtually all of the above fits into "tax protestor" type arguments which makes one liable for treble damages for even suggesting them in Court. They are all very poor arguments, disproven so many times that all are tired of hearing them. Albeit, all wish they were even slightly true.
Lets be very clear - a contention that others haven't read and understand the Code and Laws, but this guy has...is beyond absurd,and even offensive. In my 30 years of practice, after many, many years of education, and even work on writing some tax legislation....of all the thousands of lawyers, thousands scholars and politicians, thousands upon thousands more of their family, parents, office people, children, judges, various government employees, etc., all that work with the laws daily, write them, read them, and have all the same motivations as you and me, (to pay as little tax as possible, and many to earn big fee's by showing others how to do so)..NONE COME TO CONCLUSION THAT THE ONE ABOVE HAS. Maybe none are as bright, maybe none are as well versed, maybe none care about their children, parents, themselves, etc. enough to actually want to make the arguments for them he seems to feel are so clear...and be able to not pay their tax fairly conventionally.....you decide.
There is an entire court system (Tax Court) that has jurisdiction to hear all matters challenging any part of the laws known as the tax code. The Supreme court has handled appeals from it many times. (And not surprisingly, his citations and references apparently trying to sound informed are entirely inaccurate or irrelevant to this topic, although they may well be correct for another one).
The matter of what constitutes a tax protester argument is fairly well decided, as is how stringently the Courts may respond to it. Basically, anything challenging whether someone is subject to being taxed is a tax protester argument. I think it is fairly obvious that tax is required, period.
To avoid the possibility of someone getting too taken or confused by more of this buffoons mumble jumble I have erased/edited several more "contributions", including those insisting that the court must prove it has jurisdiction to the defendant before hearing the case, and if it doesn't, than he can't be held liable for a tax! Ooh.
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You should contact the IRS. or the forms can be dowload on IRS.gov
Answer You can... but its a no win situation. If you don't file, and you are owed money, the government gets an interest free loan. If you owe money, they slap you… with penalties and interest on the money that they were supposed to bring in. So, I wouldn't recommend it. Also, simply, you must file every year. And adding two years together will virtually always come to a much higher tax (you only get the deductions and evwen withholding credit for one year, not both). many other reasons.
You can't. Each year must be filed seperately so you have to file 2 returns. Also, you wouldn't want to because you would lose out...only getting one deduction where 2 are a…llowed and paying at a tax rate bracket for the higher income.
Unpaid Taxes The problem is there is something called a Statute of Limitations(SOL) on your liability for taxes for any period. (There is alsoone limiting the period of time …the Gov't has to allow you tocorrect an error and get a refund). After the SOL period the IRScan't really bug you about them. It is generally 2 or 3 years. However , it only starts running from your date of filing areturn. If you you don't file, the period never starts to run andyou are perpetually open to assessment and payment. And it ishighly likely that you (or your estate), will sooner or later haveto face the issue. Considerations like wanting to collect SocialSecurity or other Government benefits may enter into it too. Not filing can certainly be a criminal act (which is the type ofthing that surfaces when you least want it to) and that complicatesmany things, especially if you've gotten involved in any otherproblems. It's called setting yourself up for the squeeze! As a rule of thumb, the IRS will look for only the last 7 years,and may be willing to work out an agreement for less for someonethat is voluntarily coming forward. Moreover, it is not uncommon to find that, because of how confusedpeople can get about the tax system, that someone who didn't fileactually not only didn't have any additional liability, but becauseof withholdings or earned income credits, etc., may actually havehad a refund coming! (More common than you may think). It is clearly better to have someone independent and knowledgeableapproach the IRS for you. This can be a Lawyer or CPA (and others),but I would recommend you find (in the yellow pages under Tax)someone showing an E.A. designation. This stands for Enrolled Agentand is a specialized certification, frequently earned by ex IRSagents, and that the people who have frequently are particularlyadept in these matters, and reasonably priced.
If a bankruptcy was filed in one tax year and completed in the following tax year should it be filed in the former or latter tax year?
I'm not sure what you mean by "filed for taxes" about the Bankruptcy. The financial things on the BK an happen at any time, any year.I'm not sure what you mean by "filed for… taxes" about the Bankruptcy. The financial things on the BK an happen at any time, any year.
You have to file every year that your income meets the minimum mandatory filing requirements in Virginia. You can find those requirements here: http://www.tax.virginia.gov/s…ite.cfm?alias=WhoMustFile But you also should file if you had any tax withheld from your wages or from your other payments. If you don't file, you will forfeit any refund you had coming. If you wanted to know whether you can combine two different years and file them together, the answer is no. You must file for every year separately.
If you are a PA resident, nonresident or a part-year PA resident, you must file a PA tax return if: • You received total PA gross taxable income in excess of $33, even if …no tax is due with your PA return; and/or • You incurred a loss from any transaction as an individual, sole proprietor, partner in a partnership or PA S corporation shareholder. PA law does not exempt a minor from the above requirements to file a PA tax return even if claimed as a dependent on a federal return. The executor, administrator, or other person responsible for the affairs of a decedent must file a PA tax return if the decedent met the above requirements. Pennsylvania taxes eight classes of income: (1) compensation; (2) net profits from the operation of a business, profession or farm; (3) net gains or income less net losses from dispositions of property; (4) net gains or income from rents, royalties, patents and copyrights; (5) dividends; (6) interest; (7) gambling winnings (except Pennsylvania Lottery winnings); and (8) net gains or income derived through estates or trusts.
On the day that you were divorce during the year your filing status will be single for the year that you were divorced in unless you were remarried by December 31 of that year…. You would file your own 1040 income tax return using the single filing status, unless you qualify to file as Head of Household. See the related link for an IRS Interactive Assistant that walks you through the process of determing your filing status. Click "begin" at the bottom of that page to start the process. Click on any underlined links on the pages that follow for helpful definitions.
Yes just use the last years tax forms for this purpose. In the year 2010 you would use the 2009 tax forms to file for the 2009 tax year income tax return.
Not filing your taxes if you have the income is criminal. It is not something anyone does because they want to. It is a requirement. Those who fail to meet the requirements …to require filing (which are different than paying), are the ones that really should file, because they probably have benefits coming to them by doing so. You don't think the government would allow you to NOT file because it is good for you do you?
Yes you can file a federal income tax return and if you had a employer and you were an employee if any federal income tax was withheld from your gross earnings wages it is pos…sible that you could get a refund of some or all of the FIT that was withheld. It is possible that a taxpayer can meet the MUST FILE A FEDERAL INCOME TAX RETURN at any age. If you are a dependent on an another taxpayers income tax return and unearned income of more than 950 and would be required to pay some federal income tax on the amount. Or if your are a self employed taxpayer and have a NET profit from your business operation it is possible that you would be required to file a 1040 Federal income tax return.
If you didn't and didn't have to, or should have because you had money coming back (the more common thing, even with those who thought they were getting away with something), …you file like anyone else...albeit you should either get help doing so, in the form of a preparer or the software programs that lead you through it, as it may all be new to you. On the other hand, if you didn't file and should have...then you really should get expert help of a lawyer, CPA or EA that handles these...or it can be a very tough and expensive road...and one that can eveolve into criminal charges.
I was just asking myself the same question. I got this answer; hope it helps! It happens every year. Just when you get motivated to get rolling on your taxes,… you realize you can't find the return you filed last year. Aaaarrrrggg! First off, don't panic if you can't find the return. Yes, you need it to know what you claimed last year and how those claims relate to this years return. All is not lost, however. The IRS will provide you with a copy of your past tax returns if you ask nicely. Here is how to go about it. The IRS will not send you the actual tax return. The agency, however, will send you their version of it. This is known as a tax return transcript and is a layout of the information you provided. It is essentially your return, but doesn't look like it. You can rely on the transcript as though it was your original return. When you contact the IRS to get the transcript, it is important to understand there are two types available. As is usual with the IRS, there are two choices just to confuse you. The first is the tax return transcript that is essentially the return you filed. The tax account transcript is your original return as modified by any changes made by the IRS or you. Which one is the correct one? If the IRS has not contacted you about an issue with the return, it is the tax return transcript. If they have, it the tax account transcript. The IRS will give you any return for the past three filing years. The service is free. To get the copy, you can call the IRS at 800-829-1040. Alternatively, you can get a copy by filling out and mailing in IRS Form 4506-T. It takes two weeks to a month for the agency to get the copy to you. If you discover you have a problem just before the relevant filing deadline, file for an extension so you don't run afoul of filing laws. Remember, you have to pay any taxes due regardless of the extension, so try to guesstimate what you will owe. If you lose a past tax return, there is no need to panic. The IRS will be happy to send you a copy. After all, an audit agent probably has the file on their desk as we speak! Richard A. Chapo is with BusinessTaxRecovery.com - providing information on tax debt relief.
You should proceed to do this and complete your income tax return correctly. Get help with your tax problems at IRS's nationwide open house. The Internal Revenue Service will …host a special nationwide Open House on Saturday May 15 to help small businesses and individuals solve tax problems. Approximately 200 IRS offices, at least one in every state, will be open May 15 from 9 a.m. to 2 p.m. local time. IRS staff will be available on site or by telephone to help taxpayers work through their problems and walk out with solutions. Go to the IRS.gov web site and at the top in the square that has the picture it says pages 1 to 5 choose page 1 then choose May 15- Save the Date Click on the below Related Link
You MUST file each year seperately. A filing is for ONE accounting period, virtually always a year. Laws, forms and many things change each year. MORE THAN THAT - IT WOULD BE… A TERRIBLE THING TO COMBINE YOUR INCOME INTO ONE FILE....YOU WOULD PAY MUCH MORE TAX AND LOSE LOTS OF BENEFITS!