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Tax Forms
Various forms used by the IRS in conjunction with income taxes such as W-2, W-4, W-9, 1040, 1098, and 1099
3,047 Questions
How much do you have to make to file a federal tax return?
Generally, Single under age 65 must file when your gross income is at least $8,950 for 2008 ($9,350 for 2009). Married Filing Jointly under age 65 must file when your gross income is at least $17,900 ($18,700 for 2009). Married Filing Separately must file when your gross income is at least $3,500 ($3,650 for 2009). Head of Household under age 65 files when your income is at least $11,500 ($12,000 for 2009). Qualifying widow(er) under age 65 with dependent child files when your income is at least $14,400 ($15,050 for 2009). Dependents under age 65 must file if your earned income is over $5,450 for 2008 ($5,700 for 2009).
Even if you're not required to file, you should file under certain circumstances. One, you're filing for a refund of withheld income tax because you owe no tax. Two, you're eligible for certain credits (earned income, making work pay, additional child tax credit, etc.).
Where do you mail completed federal income tax returns?
Where you send your return depends on where you live. If you live in Florida, Georgia, or the Carolinas and you 're enclosing payment, you mail to the Department of the Treasury, Internal Revenue Service Center, Atlanta GA 39901-0102 (zip code 39901-0002 if not enclosing payment/receiving refund).
If you live in Alabama, Kentucky, Louisiana, Mississippi, Tennessee, or Texas, you mail to the Department of the Treasury, Internal Revenue Service Center, Austin TX 73301-0102 if you're enclosing payment (zip code 73301-0002 if not enclosing payment/receiving refund).
If you live in Arkansas, Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode island, Vermont, or the Virginias, mail to the Department of the Treasury, Internal Revenue Service Center, Kansas City MO 64999-0102 if enclosing payment (zip code 64999-0002 if not enclosing payment/receiving refund).
If you live in any other state, mail to the Department of the Treasury, Internal Revenue Service Center, Fresno CA 93888-0102 if enclosing payment (zip code 93888-0002if not enclosing payment/receiving refund).
Yes. The IRS has income guidelines for determining whether dependents are required to file their own tax returns. Generally, for 2008 income, dependents are required to file if single under 65 with earned income of over $5,450 ($5,700 for 2009) or if married under 65 with earned income of over $6,800 ($7,100 for 2008). Even if your income is below the level requiring you to file, you should file if income tax was withheld from your earnings in order to receive a refund of that tax.
Will the stimulus apply to 2008 if you didn't file for 2007?
The IRS referred to 2007 tax returns for determining eligibility and the amount of 2008 economic stimulus payments. Eligible individuals were given an extended deadline of October 15, 2008, in which to file their 2007 returns in order to receive 2008 economic stimulus payments. The Recovery Rebate Credit for 2008 tax returns is for people who didn't receive the full economic stimulus payment ($600.00 per taxpayer, $1,200.00 Married Filing Jointly) but who might be eligible now for some or all of the unpaid portion.
But if you didn't file a 2007 tax return by October 15, 2008, then you're not eligible for the Recovery Rebate Credit for 2008 tax returns. Recovery Rebate Credits won't be mailed as separate checks, as the 2008 economic stimulus payments were. They'll be added into taxpayers' refunds.
To whom do I speak regarding my W-2 tax form?
Form W-2 is Wage and Tax Statement. The IRS requires employers to provide/send W-2 forms to all employees by January 31st. If January 31st falls on a weekend, then the deadline is extended to the next business day. If you haven't received your W-2 form by that time, contact your employer.
If your employer doesn't cooperate with you by mid-February, contact the IRS at 1-800-829-1040. The IRS will send a letter to your employer requesting that the W-2 forms be sent to you. The IRS will also mail to you Form 4852 (Substitute for Form W-2 or Form 1099-R). If your employer hasn't provided you with W-2s by the time to file your return, you should fill out Form 4852, attach it to your tax return, and go ahead and file your return that way.
Who do you speak to regarding your W2 tax form?
I spoke with Dontae two days ago(02/07/2009) at the Beltsville location regarding my W2 tax forms. he gave me a number to the CA office. I called twice within these past couple of days; No response from no one. My issue is that M.V transportation mailed off my W2 tax forms to an old address which i called the post office and they told me that my address would take in affect after 30 days. I just need to know if i can get another copy from that location in Beltsville by the end of this week because my tax form is at an old address where I can not retrieve it. Please give me a called at 202-907-6885. Thank you for your time. Nicole Caldwell
Why do you have to pay estimated taxes?
Because most people simply don't have the controll or ability to estimate and put aside any money to pay the debt/tax at any other time. They would spend it on other things. Also, the money itself is needed through the year to pay for the services and things tax provides....otherwise the Govt would have to borrow funds, pay interest and taxes would be higher.
How much will you owe on income of 2000.00 for a 1099 income tax form?
Form 1099-MISC is Miscellaneous Income. When employers provide you with Form 1099-MISC (instead of Form W-2 Wage and Tax Statement), they aren't considering you an employee. They're treating you as self-employed. So you're responsible for taxes (income, Social Security, Medicare).
Self-employment income is reported on Schedule C (Profit or Loss from Business) or Schedule C-EZ (Net Profit from Business). You also have to figure Self-Employment Tax on your net income (your gross income of $2,000 minus any deductible expenses).
Taking the worst case scenario that you had no deductible expenses, your self-employment tax on Schedule SE would be $283. You're allowed to deduct half ($142) of this amount from your income in the Adjusted Gross Income section (bottom section, p. 1) of Form 1040 or Form 1040A. Your adjusted gross income then would be $1,858 ($2,000 - 142). Your standard deduction ($5,450 for Single for 2008, $5,700 for 2009) and your personal exemption ($3,500 for 2008; $3,650 for 2009) reduce your taxable income to 0. But you still owe $283.00 in self-employment tax. For Single no dependents your earned income credit would be $143.00, which reduces your tax due to $140.00 ($283 - $143).
Where do you report income listed on 1099-MISC Box 7?
That amount needs to be entered on Schedule C (Profit or Loss from Business) or C-EZ (Net Profit from Business) or F (Profit or Loss from Farming) whichever pertains, as well as on Form 1040 Schedule SE (Self-Employment Tax).
Form 1099-MISC is Miscellaneous Income. Box 7 is labelled "Nonemployee compensation." Generally payments in this box are self-employment income. The payer of that income didn't consider you an employee and didn't withhold any taxes (income, social security, Medicare) from your earnings. For that reason, the payer filled out Form 1099-MISC instead of Form W-2 (Wage and Tax Statement).
If you claim unreported tips on your tax return will this cause a delay?
If anyhing, it's the opposite...not reporting tips when your in an industry like food service where they are common, may delay things.
What tax form do you need for medical write offs?
Schedule A is Itemized Deductions. It's the form you use for, hopefully, writing off medical and dental expenses. The first section on Schedule A is 'Medical and Dental Expenses'. The instructions for Schedule A, as well as IRS Publication 502 (Medical and Dental Expenses), list which expenses can be included on Schedule A and which can't. Also, you only can deduct the part of your medical and dental expenses that exceeds 7.5 percent of the amount on line 38 (adjusted gross income, AGI) of Form 1040.
What if you filed your tax return and then you dependent received a 1099-C form?
Form 1099-C is Cancellation of Debt. Form 1040X is Amended U.S. Individual Income Tax Return. If your dependent's 1099-C form affects your return, then should file, as promptly as possible, Form 1040X to correct errors and make changes.
Can I claim a tax deduction on stock loss when redeemed through sale?
A loss means that the stocks were sold for less than their basis (usually what you paid for them). You need to know what you paid for them and at what price they were sold. You also need to know whether the stocks are short-term (prior to the sale, you had them for one year or less) or long-term (more than one year). These losses are deductible and are reported on Schedule D(Capital Gains and Losses).
Is there a time limit on corrected W2's?
Yes, there is a time limit for issuing corrected W-2 forms, known as W-2c forms. Employers must correct errors as soon as they become aware of them, but the IRS typically expects corrections to be submitted by the end of the calendar year following the original filing. For example, errors discovered in 2023 should ideally be corrected by December 31, 2024. However, there is no strict deadline for employees to receive corrected forms, as long as the employer submits them in a timely manner.
You file another 1099 and check the box on the top identified as "correction".
If you're a dependent on someone else's income tax return can you claim dependents as well?
No. If you're being claimed as a dependent on someone else's tax return, then you can't claim dependents. There are two types of qualifying dependents. One is a Qualifying Child, which includes children, stepchildren, foster children, siblings, and their descendants (grandchild, niece, nephew). The other is Qualifying Relative, which includes those in the Qualifying Child category as well as others (parents, grandparents, aunts, uncles, in-laws, and any other person living all year in your household as long as the relationship doesn't violate local law).
If you qualify for either category, then you're not eligible to claim your own dependents. Also, by being claimed as a dependent on someone else's tax return, you can't claim a personal exemption for yourself on your own tax return.
What do you do if you forget to file a W-2 form?
Form W-2 is Wage and Tax Statement and is filled out by your employer. If you forget to file a W-2 form on your original return, then you need to file an amended return to correct the omission as soon as possible after you discover the omission. Form 1040X is Amended U.S. Individual Income Tax Return.
If box 9 is checked on my 1099-MISC form what do I have to report for income?
Form 1099-MISC is Miscellaneous Income. Box 9 is labelled 'Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale'. A check in box 9 means that you've made such sales to the person or entity issuing the 1099-MISC formto you.
Sometimes the amount of these direct sales is listed in box 7 (labelled 'nonemployee compensation'). But this amount doesn't have to be entered on Form 1099-MISC. The Payer can report this amount in the form of a letter to you. However the amount is reported to you, you need to enter it on Form C/C-EZ (Profit or Less from Business).
Can your husband claim you as a dependent on your tax return?
A spouse is never considered a dependent. However, you can claim an exemption for your husband as long as you file a joint return.
You also are allowed an exemption deduction for yourself. A spouse is never considered a dependent. However, you can claim an exemption for your husband as long as you file a joint return.
You also are allowed an exemption deduction for yourself. A spouse is never considered a dependent. However, you can claim an exemption for your husband as long as you file a joint return.
You also are allowed an exemption deduction for yourself.
Is Code D in box 12 of Form W-2 reported on Form 1040?
Form W-2 is Wage and Tax Statement. Code D refers to elective deferrals to a section 401(k) cash or deferred arrangement. It also includes deferrals under a SIMPLE retirement account that's part of a section 401(k) arrangement. Code D elective deferrals generally are limited to a total of $16,500 ($11,500 if you only have SIMPLE plans). Any amount above the overall elective deferral limit must be included in income on line 7 (Wages/salaries, tips, etc.) of Form 1040.
Can you claim your wife as a dependent on your taxes if you file separately?
No. If you are Married Filing Separately, then you only can claim your personal exemption. Your wife's personal exemption only can be claimed by her if you're Married Filing Separately. Your spouse, whether filing jointly or separately, can't be considered your dependent.
What is the youngest age to claim children on your tax return?
You can claim on your tax return your baby from the time of birth. As long as your baby is born alive (and even if the baby only lives for a moment) you can still claim the baby as a dependent. But you can't claim an exemption for a stillbornchild.
What happens if 2 people claim the same dependent on their tax return?
While just denying the dedcution to both is sometimes the case, normally the processing of both returns are stopped in their tracks while IRS sends notices, and inquiries...which is to say, you become much more visible.
