Responsibility of parent.
Generally, a child is responsible for filing his or her own tax return and for paying any tax on the return. But if a dependent child who must file an income tax return cannot file it for any reason, such as age, then a parent, guardian, or other legally responsible person must file it for the child. If the child cannot sign the return, the parent or guardian must sign the child's name followed by the words "By (your signature), parent for minor child."
Amounts a child earns by performing services are his or her gross income. This is true even if under local law the child's parents have the right to the earnings and may actually have received them. If the child does not pay the tax due on this income, the parent is liable for the tax.
Certain Children Under Age 19 or Full-Time Students
If a child's only income is interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends), the child was under age 19 at the end of 2009 or was a full-time student under age 24 at the end of 2009, and certain other conditions are met, a parent can elect to include the child's income on the parent's return. If this election is made, the child does not have to file a return. See Parent's Election To Report Child's Interest and Dividends in chapter 31.
Go to the IRS gov web site and use the search box for Publication 17 Your Federal Income Tax For Individuals chapter 1
You can click on the below related link
Charities that can help with IRS debt are Step Change Debt Charity and also Debt help online. The IRS also offers an Offer in Compromise service to help pay any debts.
A person can find information on IRS debt trouble. The first thing to do would be to go to google and search IRS debt trouble. Finding information on google is a great way to find information.
If a taxpayer is deceased and has outstanding tax debt, the IRS typically does not forgive that debt. Instead, the tax liability becomes part of the deceased's estate and must be settled from the estate's assets before any distributions to heirs. The estate's executor is responsible for ensuring that any debts, including taxes owed, are paid from the available assets. If the estate lacks sufficient assets to cover the debt, the IRS generally cannot pursue the deceased's heirs for the unpaid taxes.
Yes there is a IRS debt relief program. It has been around since 2007. For you to qualify you need to owe the IRS at least 20,000$ in taxes. But there is some exceptions to that rule.
They can, and are actually required, to submit your debt to the IRS. If they have written the debt off, it is essentially income to you. It is as if they gave you the amount of the debt. Which means that you have to pay income tax on that income.
No. The father's estate is responsible for his debts. If there is no estate the creditor is out of luck.
Charities that can help with IRS debt are Step Change Debt Charity and also Debt help online. The IRS also offers an Offer in Compromise service to help pay any debts.
When someone dies owing the IRS, their outstanding tax debt becomes part of their estate. The executor or personal representative of the estate is responsible for resolving the debt, which may involve using assets from the estate to pay off the taxes owed. If the debt exceeds the value of the estate, the IRS may be willing to negotiate a settlement or payment plan with the estate's representative.
A person can find information on IRS debt trouble. The first thing to do would be to go to google and search IRS debt trouble. Finding information on google is a great way to find information.
Yes, you have to declare what you save to the IRS if you go through debt settlement. You can read more information at www.debtfreedestiny.com/debt-settlement/debt-settlement-and-income-taxes
Yes, the IRS is entitled to dock a refund for a variety of things, including court ordered debt.
Yes there is a IRS debt relief program. It has been around since 2007. For you to qualify you need to owe the IRS at least 20,000$ in taxes. But there is some exceptions to that rule.
You can get information about tax debt settlements from the IRS.
The IRS would take any assets in the estate to pay the decedent's personal tax debt. If there is a family business involved that would complicate the situation and may increase your exposure.
No she will not be personally responsible for the debt. One of the primary reasons to open an estate is to resolve such debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
They can, and are actually required, to submit your debt to the IRS. If they have written the debt off, it is essentially income to you. It is as if they gave you the amount of the debt. Which means that you have to pay income tax on that income.
they get chased by the IRS and your pretty much screwed!lameo you can run, but you can't hide!! and then, you will go to jail. be responsible with your money!