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Partnerships and LLCs are filed with the IRS. The taxes are paid by the owners of the Companies and K1 forms are issued to the individual owners. The K1 forms show the income to report on the members individual tax returns.
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Do you have to pay taxes on land you sell if you are on social security?
The answer is Yes! Social Security benefits are non taxable but any other money you receive from sold land will have to be listed on your IRS form and yes you might have to pay taxes depending on the amount. If in doubt contact the IRS. Taxation depends on the money you get.
What if you owe IRS but have a refund?
If you owe money to the IRS for prior years taxes, and you have a refund due to you on this year's taxes, the IRS will keep the refund and apply it towards the debt that you owe.
How do I file back taxes with the IRS?
You would have to file a amendment to that years tax. You can go to the IRS website for the correct forms.
Pay Some Money?
If you have filed your taxes forms and have been shocked by the amount you owe, then you need to figure out ways to repay your taxes. Do not simply fail to pay anything at all to the IRS. The IRS looks very negatively upon people who completely fail to pay any of their taxes. However, if you pay as little as $1 or $2 to the IRS, then the IRS will consider this a "good faith" form of trying to repay your taxes. The IRS needs to receive this payment so that you can then try to come up with a payment schedule.
Where can I get help finding the correct forms for taxes?
If you go to the IRS site there are links to free tax services to file if you meet the requirements. If you do not then you can simply use the forms on the IRS site.
How do you lower IRS taxes by giving money away?
If you give your money away to a recognized charity, you can deduct the contribution on your income taxes.
If you get paid under the table how do you claim the money on your taxes?
Yes, you are supposed to claim any money received to the IRS. Even if you get paid cash, the IRS wants their money.
Where can I get a tax form to file taxes?
You can get the tax form to file your taxes at the IRS website. All the tax forms are located at www.irs.gov/formspubs/index.html. You can submit the forms online.
If your fiancee claimed your kids what documents do you send in for the IRS to release his money?
send a letter telling the IRS he is head of household and you will not be claiming your kids on your taxes. you will probably need to give them your social security number, then you will need to make copies of their social security cards to be sent in with his IRS forms
Does bankruptcy protect you from paying back taxes?
No, the IRS always gets its money.
How can you be returned my spend money from IRS?
File the appropriate return for the taxes you had withheld.
How do you locate your 401k?
Old statements, IRS, after all the IRS allowed you not to pay taxes on that money so they should have verification as to where it went.
