Tax Forms

Where do I need to go to get my w-2 online?

Canada Revenue Agency T4 slip is Statement of Remuneration Paid. Employers are required to complete T4 slips to report certain items.

One, certain income (salary, wages, tips, bonuses, etc.).

Two, taxable benefits or allowances.

Three, deductions withheld during the year.

Four, pension adjustment amounts.

T4 slips have to be completed for individuals who meet both of two conditions. One, they received over $500 in remuneration. Two, certain deductions (income tax, CPP/QPP contributions, etc.) were made by the employer during the year. Any employee receiving taxable group term life insurance benefits also must be issued a T4 slip.

For more information, go to the Canada Revenue Agency website, www.cra-arc.gc.ca.

According to IRS Pub 535, page 33, column 1, "You have an economic interest if BOTH the following apply: 1) you have acquired by investment any interest in mineral deposits or standing timer, AND 2) You have a legal right to income from the extraction of the mineral or cutting of the timber to which you must look for a return of your capital investment.

Add the values and put right in the cells as if they were one. Or, virtually all software handle this easily, asking you the info for each, and combine them itself (making a separate report as/where required).

If your an employer, follow the instructions on the form...there are several other documents and reconciliations that must accompany each, and of course form 941 & 940 info, and many things depedent on the state or cities you and the employees are in. That few a number should not require electronic/magnetic media filing.

Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.

You file another 1099 and check the box on the top identified as "correction".

Yes. My baby was born in September 08 and I am able to claim him on my taxes this year as long as I have his Social Security Card.

Last check of janurary

Yes. If you're required to file a return, you should go ahead and file for the current year so that it's on time. If you haven't filed for previous years because your income was below the required level for your filing status, you might still want to file to receive a refund of any income tax that was withheld. If you should have filed in previous years but didn't, then you should file as soon as possible to reduce late fees and penalties which most likely will be assessed.

For 2009, if you're Single with no dependents and income of less than $5,000, then you're not required to file. You'd be required to file if your income were at least $9,350. If income tax were withheld from you earnings in 2009, then you should file for a refund of all federal income tax withheld. Your income is zeroed out by your standard deduction of $5,700 plus your personal exemption of $3,650.

Form W-2 (Wage and Tax Statement) is a six-part form. Each copy identifies the copy number and to whom the employer needs to send each copy. At least three copies are provided to the employee. Copy B is labelled as "To Be Filed With Employee's FEDERAL Tax Return." Copy C is identified as "For EMPLOYEE'S RECORDS." Copy 2 is identified as "To Be Filed With Employee's State, City, or Local Income Tax Return."

There are several sites where W-2s may be downloaded. I assume you are talking about specific W-2s for an employee, not a blank one. If you think your employer posts electronic W-2s, check with the human resources department of your company. One of the largest sites for employee W-2 downloads is www.w2express.com. But you will need info from your company in order to access your W-2. Hope this helps.

http://www.irs.gov/file/article/0,,id=111163,00.html

If you're Married Filing Jointly, then you're allowed one personal exemption for you and one exemption for your husband. You can't claim your spouse as a dependent. Even if you're working and your spouse isn't, you can't claim your spouse as a dependent because you're allowed to claim two personal exemptions for the two of you as a married couple filing jointly.

Form 940 is Employer's Annual Federal Unemployment (FUTA) Tax Return. It's a two-page form for reporting the employer's federal unemployment tax liability on the first $7,000 paid to each employee during the calendar year.

Part 1 asks if the employer also has paid state unemployment tax, in addition to FUTA. Part 2 determines the employer's FUTA tax on the total taxable FUTA wages (up to $7,000 per employee) at .8 percent (.008). Part 3 determines if the employer can receive a credit on the FUTA tax rate for having paid state unemployment tax. Part 4 determines if the employer has a balance due or an overpayment on the FUTA already paid for the year.

You can get an exact copy of a previous year's return with all attachments and W-2 forms, directly from the IRS. You need to fill out Form 4506 (Request for Copy of Tax Return). There's a fee (currently 57.00) for this request. It can take up to two months to receive this copy.

But most of the time all you need is a computer printout of the information on your return. This is called a 'transcript' and is available for the past three years at no charge. Usually lending agencies (student loans, mortgages, etc.) accept a transcript instead of an exact copy. To request a transcript, you need to fill out Form 4506-T (Request for Transcript of Tax Return).

As many as legally qualify.

Whether you're required to file a return generally depends upon your age, filing status, and income. For 2008 income, Single under age 65 with no dependents isn't required to file if your income is under $8,950 ($9,350 for 2009). If you're claimed as a dependent on your parents' or someone else's return, then you'd be required to file for 2008 if your earned income was over $5,450 ($5,700 for 2009). However, even if you're not required to file a return, you should go ahead and file if income tax was withheld from your earnings to receive a refund of that tax.

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Depends on many things - who gives, who receives, what was given, what the basis is....how it's claimed...much more.

Form 1099-A is Acquisition or Abandonment of Secured Property. A lender who has acquired property that was secured for a loan that hasn't been paid files this form. If Box 5 (Was borrower personally liable for repayment of the debt?) is checked NO then you need to file Schedule D (Capital Gains and Losses). If Box 5 is checked YES, then you take the difference between Box 2 (Balance of principal outstanding) and Box 4 (Fair market value of property) and enter it on line 21 (Other Income) of Form 1040.