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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
Usually it will be on a 1099-MISC, reported in the "Other Income" box.
Can my employer ask to see my tax forms?
Absolutely not. Those are confidential. The only entity that I know of that can ask for this information is a mortgage company when they are reviewing for a modification of terms. No other entity I know of can ask for these, legally. Of course, anyone can ask for anything they want to but complying is up to you.
What is the last day to send in income tax forms?
I have an amount of 800 -in my box 14 on my w2 is it taxable
Why do calibration standards need to be calibrated every three years?
Simply put to insure quality...
There are many kinds of calibration standards out there. We at, Exaxol, make ICP, AA, Ion Chromatography, EPA, pH, and Conductivity standards among other things. They all have different shelf lives due to there matrix or stabilizers. Many require high purity acids to dissolve in solution and over time CO2 from the air will make carbonic acid in your standardized solution. This will affect pH dependent solutions and add impurities.
Tolerances are a big deal in many industries and even mechanical and digital measuring devices such as scales and electrodes need to be checked annually to maintain accuracy in your work.
I added a link to a more lengthy pH discussion if you were looking for more than a short answer response!
www.exaxol.com
Do short-term losses from a stock sale offset short-term capital gains for tax purposes?
Short offset shorts first, then they offset longs. Your better to have them offset short, as short is taxed at ordinary rate and long at special lower rate.
A stock sale is a capital gain/loss transaction.
What is the federal mileage allowance for car travel to work with non-profit organizations? What if I am a for-profit busiiness hired to work for a non-profit? Do they pay the non-profit rate or the business rate?
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Is BBB fee an advertising expense for Schedule C?
This statement may be found on BBB sites:
BBB accreditation fees/membership dues cannot be deducted as a charitable contribution for federal income tax purposes, but are usually 100% deductible as a business expense (consult tax advisor).
Are the employer identification number and tax identification number the same?
Not necessarily. The IRS issues a Federal Tax Identification Number (TIN)for income tax purposes. This same number is used for Federal Employment taxes (Employer ID) if the company has employees. However, the state in which the does business also issues TIN's and Employer ID's - these numbers may or may not be the same as the Federal number, depending on the state.
What is your monthly after-tax income if you make 150000 a year?
The amount one pays as income tax depends on their TAXABLE income. It is a percentage of that income. The exact percentage used depends on the level of that income. Taxable income depnds on many things: Earnings from employment for sure, earnings from other sources (investments, government payments, etc.), and even then certain items of each may be not included, or things you may not receive in cash may be included. For example - the contribution to a 401k is not taxable income, even though it is part of your salary. On the other hand, certain benefits you may receive, like employer paid life insurance, car allowances, even access to a cafeteria that has reduced prices because of an employer supporting it), may result in taxable income to you. Once the amount of taxable income is determined, then the deductions to that income are applied. For example, interest paid on the mortgage for your home, number of dependent children, number of other qualifying dependents, medical costs, certain expenses of making that income, state taxes paid, etc.). Hence, any 2 people, holding the exact same job at the exact same salary and benefits, may well have 2 entirely different tax amounts due. Once the amount of taxable income is determined, looking at the tax rate charts (made by filing status, for example single filer verses married filing jointly), for that income determines how much one actually must pay. I'll try and provide a link to a chart. And of course, how much you take home has many other things taken out other than Federal income taxes...State Tax, City, FICA, Worker Comp, Unemployment, medical contributions, retirement contributions, etc. etc.
How do you file a claim for an accident that was caused by someone else?
If you know their insurance company contact them, and report the claim, with all information you have. If you do not have their company (and they will not give it to you), contact the dmv for your state and see if they carry those records (assuming you have the license plate). If you know the company and just not how to contact them etc, most (if not all) companys have web pages that will give you info, google ''filing claim with state farm'' for example.
How do you get earned income credit early?
You can file a W-5 form with your employer's payroll department, and they're supposed to advance it to you in your paycheck.
How many should you claim on w-9 if you are single with no dependents?
On a W-9 form for income tax purposes, if a person is single with no dependents, they are allowed to claim one person (themselves) only. Some people prefer to have the government withhold a little extra from their paychecks so that they do not end up paying in at the end of the year.
A Tax exemption excludes a portion of your income from taxation.
Specifically, according to tax law, "Exempt income" is legally defined in 26 CFR Sec. 861-8T(d)(2)(ii).
But, you'll see Income tax law does not list what income is specifically exempt.
Instead, US tax law specifically lists the opposite, Income that is not exempt, in the paragraph that follows, Sec. 861-8T(d)(2)(iii), ... which means, in simpler terms, Taxable income.
If Erica's gross pay is 623.42 and 79 percent of this is her net pay how much will she take home?
See similar question linked here:
If someone grosses 553.00 how do you find out what percentage is taken out if net is 437.88 in Utah
It is always a good idea to file a return, even if there is no activity. It shows that the trust is still being maintained and that there is no unreported activity going on.
My accountant filed the wrong form with the IRS and won't return my calls what should I do?
The obvious answer is to call the Better Business Bureau and then sue the lawyer. And next time, check up on whoever you replace him/her with before using their services.
More specifically, as your saying your certain he made an error, but also suggesting you don't know how to handle some basic matters like this, presumably you are saying what you are for some reason, like an IRS letter that the wrong form was filed. (And understand the IRS may be wrong...it's not unheard of). For all the reasons stated, you apparently need a new accountant. First, it seems you don't feel able to do the filing yourself. Write a letter to the IRS acknowleging that you are addressing the issue...they don't like being ignored. Tell them you are having problems and have lost confidence with the return preparer and are looking for a replacement to review everything. You expect that to be done within the next few months (or weeks), and they should receive correspondence to resolve the matter then. Say something like you are a compliant taxpayer and have a history of paying what you understand to be due, following the advise of independent professionals.
Then get a replacement, and have him review all work that was done...since this may not be the only error. (You may want to cosnider someone with the credentials E.A after their name).
As any amounts you paid would likely be refunded, or credited to the liability on the correct return, you probably don't have much to sue the original over.
Do you have to pay after repossion?
Depending on the laws of the state you live in, you will have to pay the following charges:
1. The payments you're past due.
2. The repossession fee charged by the lender or dealership (if a buy here pay here).
3. The tow charge.
Depending on the flexibility of the lender or dealership that repo'ed your vehicle, you may be able to set up some kind of additional payment plan or try moving a payment or two to the end of your current loan.
Good Luck!
What is the minimum yearly income needed to file taxes?
You must file taxes if you earn the following amounts of income:
Self-employed, any age: $400
Children and Teens classified as a dependent: $5,700
Single, under 65: $9,350
Single, over 65: $10,750
Married, filing jointly, both spouses under 65: $18,700
Married, filing jointly, one spouse over 65: $19,850
Married, filing jointly, both spouses over 65: $20,900
Married, filing separately, any age: $3,650
Source: TurboTax Support website (related link below)
Even if you do not have to file, you should file to get money back if Federal Income Tax was withheld from your pay, which if you were an employee most certainly happened or you qualify for any of the following:
- Earned Income Tax Credit. The Earned Income Tax Credit is a federal income tax credit for eligible low-income workers. The credit reduces the amount of tax an individual owes, and may be returned in the form of a refund.
- Additional Child Tax Credit. This credit may be available to you if you have three or more qualifying children or if you have one or two qualifying children and earned income that exceeds $11,300. The Additional Child Tax Credit may give you a refund even if you do not owe any tax.
- Health Coverage Tax Credit. Limited to certain individuals who are receiving certain Trade Adjustment Assistance, Alternative Trade Adjustment Assistance, or pension benefit payments from the Pension Benefit Guaranty Corporation.
According to the IRS:
Whether you have to file a tax return depends, in part, on your filing status, age, and gross income.
A full 50% of the people who do not have to file actually get money back by doing so!
There really is nothing bad that can happen by filing, even if you don't need to, and in fact only good. (For example, the time limits for auditing and questioning starts as of filing, so if you don't file you can ALWAYS be questioned).
2007 1040EZ instructions state:
For most people if you are single you must file if your gross income was at least $8,750. If married filing jointly $17,500.
While these are the instructions for making estimated payments, they're good guidelines.
Simple Common Sense:
It really makes no difference since the only time you actually do WANT to file is when the IRS says you don't have to!
They don't do that because it's good for you. They do it because it is more likely to be good for them. Certainly if you don't have to file, NOTHING BAD, in fact only good things, can happen by doing so.
Federal Taxes are the same throughout the country. State tax laws are specific to each area.
Whether you have to file a tax return (or pay tax) depends, in part, on your filing status, deductions, amount & type ofincome. There are no such things as "start and stop" ages, not having to pay because of retirement or on social security or working from home or a student. It is all addressed as a matter of"how much TAXABLE income."
(Note: working isn't relevant either, as many people who don't work or are retired, or disabled, or old, or young, or in school, have income from many sources: savings, investments, etc. TAXABLE income is different than what you may otherwise think of as income. In most circumstances, you have to do many of the calculations needed to file a return, just to determine what taxable income may be).
Likewise, there are no special or fixed rates for retired, student, doctor, sanitation worker, President, convict...whatever. The amount of taxable income after applicable deductions and adjustments determines the rate applied to your particular situation. The rate, as well as the amount, you pay changes as the amount of income does.
You must file a tax return if you had net earnings from self-employment of $400 or more. This is your total self-employment income less the expenses paid in operating your trade or business, multiplied by 92.35%.
If you weren't self-employed (paid on a 1099 or ran your own business) then you would always want to file a return to claim the amount withheld and shown on your W-2, which with lower incomes will always be refunded to you.
If you are an individual who may be claimed as a dependent on another person's return, you are subject to specific filing requirements. Refer to the instructions in your tax package or refer to Publication 929, Tax Rules for Children and Dependents, or Publication 501, Exemptions, Standard Deduction, and Filing Information, for the filing requirements for dependents. All available at IRS.gov.
You must file a tax return if you received any amount of advance earned income credit payments from your employer during the year, or if you owe any taxes, such as:
- social security tax and Medicare tax on tips or group life insurance,
- alternative minimum tax,
- tax on qualified retirement plans including an Individual Retirement Account, or other tax-favored account,
- tax from recapture of an education credit, investment credit, low income housing credit, federal mortgage subsidy, qualified electric vehicle credit, or the native American employment credit.
Generally, you must file a tax return if you are a nonresident alien with income from sources in the United States. For more information on nonresident aliens, select Topic 851 at the IRS website.
Even if you are not required to file a tax return, file a return BECAUSE MANY, LOW INCOME PEOPLE HAVE MANY BENEFITS COMING THAT ARE KEYED TO FILING A RETURN. (Like stimulus checks).
Also, the Statute of Limitations for when the IRS can no longer ask you questions about your affairs for a year only STARTS to run when a return is filed. Not filing, and they can bug you, (and assess a tax) for forever.
You can file for free at the www.irs.gov site too.
What is the stock symbol for Brigham street society?
The Brigham St. Society is a term invented by Stansberry and Associates -- this is a teaser for LUK. Full details here: http://www.stockgumshoe.com/2007/10/brigham-st-society-secret-society-1.html
Why are there phase out amounts for deduction?
Because its thought to move tax to the rich or something.
Apparently it's considered fair to not only have them pay more tax, but to tax them more on the same things.....under some logic of equality and charging for services used called "they can afford it"!
When is the last day you can send in federal tax forms?
There are lots of federal tax forms..literally 1,000s, for different things.
However, virtually without exception, while they may have due dates after which a penalty MAY be applicable, you can file any of them late...even years late.
Individual Federal tax forms...commonly known as the Form 1040 series...are due anytime after the end of the year, but before April 15th (+ days if holiday or weekends), extensions may be granted (generally easily) and late filing is accepted, even without penalty IF, you have paid the tax due on the return by that due date. Just file the form and all support later.
