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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

If the wrong electronic account number was submitted for direct deposit of your refund is the check then sent to you in the mail?

If the wrong electronic account number is submitted and it's an invalid number so it's rejected, the IRS issues you a paper check. If the wrong number is submitted and it's a valid number (it just isn't your account number), then the IRS has no way of knowing that, because it doesn't come back to them as rejected. In that case, it isn't the IRS' responsibility to track down the wrong account number and retrieve the deposit. It's your responsibility to talk to your bank so they can identify, according to the incorrect but valid routing code and account number, the bank and account that have your deposit.

What is a 1099 tax form?

A 1099 form is an information return. Its a form the payer (the person paying out money) is required to send to the recipient and to the IRS that reports how much was paid to the recipient. The recipient declares this income on Form 1040 and the IRS can double check that what was paid, was received. If they don't match, the IRS sends a letter to the recipient asking for clarification (the letter also talks about interest and penalties which really scares the recipient).

What do you do with a 1099 tax form?

A 1099 tax form reports income that may be taxable. You will include this amount as income on your 1040 federal tax return form. It may also be taxable at the State and local level, depending on where you live.

Is there a fee for filing income taxes late if you're owed a refund?

No. All penalties with the IRS are based on a percentage of what you owe. If you don't owe anything, there is no penalty. You should be aware, however, that you only have three years from the date the return was originally due (including extensions) to claim a refund or else it is lost forever. So as of today (6/11/2008) you can only still get a refund on your 2005, 2006, and 2007 returns.

What did the US sell to fund the war?

The major revenue of US comes from their weapon business. They are the largest weapon seller in the world.

How can I get a copy of my tax records?

The most simple way to get a copy of your tax records is to go to the company you filed with and ask for a copy. By law, in the USA, tax preparation companies have to keep their customers taxes on file for at least 7 years in case the customer is audited (This law may vary by state). If you did not file with a tax preparation company the year of the record you require, or can't remember where you filed, then you'll have to contact your local IRS branch for a copy. This may take 6-8 weeks if the IRS is open (from January 1st until April 15th) and may take double that amount of time if the IRS is no longer accepting tax return information.

What are the low and high tax brackets for salaries?

The low tax bracket for 2008 federal tax brackets is 10 percent for taxable income between $0 and $8,025. The high tax bracket for 2008 is 35 percent for taxable income between $357,700 and above.

For 2009 federal tax brackets, the low tax bracket is 10 percent for taxable income between $0 and $8,350. The high tax bracket is 35 percent for taxable income between $372,950 and up.

For more information, go to www.irs.gov/newsroom for Article IR-2007-172 (2008 Inflation Adjustments Widen Tax Brackets) and IR-2008-117 (2009 Inflation Adjustments Widen Tax Brackets and Expand Tax Benefits).

Can you file e-file form 8379--once the IRS has processed your refund thru e-file?

No, you have to mail your form 8379.

You should mail form 8379 to the IRS address you would've used if you had filed your return through the mail. Where you mail it depends on what type of form you filed and what state you live in. Just go to the IRS website and type in "where to file and then the form you used" in the search box. This should pull up a page that tells you the addresses are listed by the type of form and lets you choose either the number or letter your form starts with. I filed a 1040 so I chose 1. Keep going through the options, clicking on what you filed and you should be able to find the mailing address that way.

Who is required to file W-2 forms?

Form W-2 (Wage and Tax Statement) is an IRS form that is filled out by employers. But both employees and employers are required to file Form W-2. Employers are required to file copies with the Social Security Administration and to provide three copies to employees in paper form. Employees are required to attach one copy to their federal return and one copy to their state return. If employees are filing their returns electronically, they don't send copies of the W-2 forms. They instead keep all copies for their records.

How late can you postmark your income taxes before it's too late?

Federal income taxes are due by April 15 if your tax year ends on December 31st of the previous year. If April 15 falls on a weekend, then the return is due by the next business day. As long as your income tax return envelope is postmarked by midnight on the due date, it isn't considered late. So, for example, if your envelope is postmarked April 16, 2010, it is already considered late.

Where do you mail Form 941?

Form 941 is the Employer's Quarterly Federal Tax Return, which must be filed every three months whether a payment is required or not. Where you file Form 941 depends on where you live and whether you're including a payment.

If including a payment, you mail to Internal Revenue Service, P.O. Box 105083, Atlanta, GA 30348-5083 if you're in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, the Dakotas, Oklahoma, Oregon, Texas, Utah, Washington, or Wyoming.

If no payment, you mail to the Department of the Treasury, Internal Revenue Service, Ogden, UT 84201-0005.

If you live in any other state and are including a payment, you mail to Internal Revenue Service, P.O. Box 804522, Cincinnati, OH 45280-4522.

If you live in any other state and are not including a paymnet, then mail to the Department of the Treasury, Internal Revenue Service, Cincinnati, OH 45999-0005.

Can you deduct more than 5000 of child care off your taxes?

You figure your child/dependent care credit on up to $3,000 actual expenses for one child/dependent or up to $6,000 actual expenses for two or more children/dependents. Form 2441 is Child and Dependent Care Expenses. The amount of the credit is entered on line 48 (Credit for Child and Dependent Care Expenses) of Form 1040 or on line 29 of Form 1040A.

For more information, go to www.irs.gov/taxtopics for Topic 503 (Child and Dependent Care Expenses). Also go to www.irs.gov/formspubs for Publication 503 (Child and Dependent Care Expenses).

How do you find out if you filed a tax return for 2005?

Call the IRS at 1-800-829-1040. Or you can file Form 4506-T (Request for Transcript of Tax Return). A transcript is a computer printout of the information on your tax return. Transcripts generally are available for the current year plus the previous three years. The IRS doesn't charge for this service. It takes about 10-30 to process this request.

For more information, go to www.irs.gov/taxtopics for Topic 153: What to Do if You Haven't Filed Your Tax Return and Topic 156: Copy of Your Tax Return - How to Get One.

Where do you mail form 941 from various states?

To find the most current address always refer to the IRS web site at the link below:

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

The address changes periodically and you should only use the IRS web site for this information. Also, a lot of different alternate questions are linked to this question.

What tax form does an independent contractor file?

Your income and expenses should be reported on Schedule C of Form 1040.

ANSWER: Are you a licensed contractor? If you are then you were made to go obtain a Taxpayer Identification Number or 'TIN' in order to obtain that license and as such the above answer is applicable. If you are not licensed by any state to do business how you see fit then you do not have a "TIN" to identify yourself as one who has been made liable for any income tax and subject to any income tax law. If you are not identified by your own voluntary assessment as a taxpayer as specifically defined in the code then what makes you think you are liable for any tax that require you file a form?

Where do you send federal income tax form?

Hey just go to this website and select your state after you click on the correct link. Toodles!

http://www.irs.gov/file/index.html

Formula for net pay?

The calculation for net pay is very simple. First, find your gross income, before any deductions. Next, deduct all taxes, insurances, investments and miscellaneous items, and you will be left with net pay.

Where do you send the 1099 Misc Copy 1 for CA state tax department?

If the information is the same for the state and the federal 1099-MISC, nothing needs to be filed with the state. California and the IRS have an information sharing agreement. If the dollar amounts on the state are different than the federal you will need to mail the form to: Franchise Tax Board, PO Box 942840, Sacramento, CA 94240-6090

Where do you send the 1099 misc copy 1 for CA state?

If you are located in California and filing Form 1098, 1099, 5498, and W-2G paper information returns with the IRS, you do not need to send a paper copy to the state. This is only if you filed a paper statement to the IRS.

If you filed electronically with the IRS, you will need to also file a 1099 electronically with California FTB.

And if I'm not mistaken, Deluxe Forms must have a typo in their info that is listed below. The list of pages is out of order, there are two copies to be Filed with Recipient's Federal Tax Return and none For Payer's Record. Besides, that information is printed right on the form, whereas Deluxe doesn't say where to send the copy, which is what was asked.

1099-Misc Parts Sequence Guide

The grid below explains the purpose of each part. Deluxe will recommend the number of parts based on your individual state's requirements, or you can check the State Requirement grid above. Note: you may wish to order additional parts for easier recordkeeping.

Copy A - Filed with Payer's Federal Tax Return

Copy B - Filed with Recipient's Federal Tax Return

Copy C - Filed with Recipient's Federal Tax Return

Copy 1 - Filed with Recipient's State Tax Return (or extra copy)

Copy 2 - For Recipient's State Record

What is Form 982?

Form 982 is Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment). The amount by which you benefit from a forgiven debt usually is included in your gross income. But under certain circumstances, described in IRS Code Section 108, that amount can be excluded from your gross income and instead is applied to reduce certain specified tax attributes (basis of property, capital loss carryovers, etc.) that otherwise would offset future income. The purpose of Form 982 is to report the exclusion or reduction of these tax attributes.

Where to get tax forms?

You can download IRS forms and publications (federal tax) from www.irs.gov

If you're looking for state tax forms, most state web sites have them as well.

How much on average does 1040 tax preparation cost at HR Block?

It depends on where you live, what type of forms are used, how many different states you need to file, whether you own rental property, sold stocks, own a house, are part of a partnership, etc.... For a 1040EZ and simple state return you can expect to pay anywhere from $70 to $100 unless you are a dependent of someone who is also filing and you will get a discount on that fee.

The more specific you are about what forms you need to file the more accurate an estimate you can receive. After having your taxes filled out and you feel the fee is too high you are not obligated to pay and take the return. All that is lost is about an hour of your time.