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1040ez Federal Income Tax Form

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Julie Said:

How to calculate federal adjusted gross income without 1040ez form in front of me?

We Answered:

Your AGI on a 1040EZ is the total of your W-2 earnings, Taxable interest earned, Unemployment compensation, and Alaska Permanent Fund dividends.

Rosemary Said:

where do i send my federal income tax form 1040ez?

We Answered:

it all depends on what state you live in....
you can find out here... it will have you click on your state and then tell you the addy to send it to....
http://www.irs.gov/file/content/0,,id=10…

    1040 Federal Income Tax Form

    Tanya Said:Why do some people think that the federal reserve as well as the income tax is unconstitutional?We Answered:The reasons some people think the income tax is unconstitutional are: - The 16th Amendment was "fraudulently and illegally declared to be ratified" by Secretary of State Philander Knox; - There is no law that requires most Americans to "file a tax return, pay the federal income tax or have the tax withheld from their earnings;" - People who file a Form 1040 "'voluntarily' waive their 5th Amendment right not to bear witness against themselves;" - The IRS "routinely violates citizens' 4th Amendment rights against illegal...

    2002 Federal Tax Table

    Byron Said:How are illegal immigrants ruining the economy?We Answered:Ruining the economy ? We did that ourselves by purchasing things and taking out loans that we could not afford. But there are problems related to illegal immigration. A large number were found to be using citizen's social security numbers to work and to claim government benefits. Identity theft is a problem and so is leeching off an already bloated government system. Here's a story about one recent investigation : http://www.washingtonpost.com/wp-dyn/art… "Households headed by illegal aliens imposed more than $26.3 billion in costs on the federal government in 2002 and paid only $16...

    2003 Federal Income Tax Form

    Jo Said:I asked a question about deducting federal taxes for 2002 & 2003 paid in 2006 & was told that you cannot.?We Answered:That looks like it is coming off the state of Alabama website. For some states, deducting a portion of federal taxes is allowed. You will have to look in the instructions for the form you are trying to file. Without knowing if you are looking at a individual, partnership or corporate return, it would be very time consuming to assist you. ETA - Obviously those of you who gave an thumbs down don't know that in some states...

    2003 Federal Income Tax Forms

    Ross Said:Suppose a person has not filed income tax, state & federal form, for 10 years, but now does. Trouble ahead?We Answered:No trouble if these are all refunds. Who cares if they are taken for child support--that will just reduce the balance owed! Keep in mind that there is a 3 year statute on refunds, so get the 2003 return filed by 4/15/2007. If she owes for any year, that's a different issue and she'll need to file for at least the last 6 years. Here's the rub. She can use for 4506-T to order federal copies of...

    2003 Federal Income Tax Return

    Glenda Said:I have a worthless security in 2003, how far back can I amend my federal tax return? CA. state return?We Answered:You have three years from the due date of your 2003 return to amend it. If you did not extend the 2003 return you have three years from April 15,2004 to amend your 2003 return. If you extended the return you could have three years from either August 15th or October 15th. In other words you have until April, 15, 2007. The IRS can audit for this three year period. They can also audit for a six year period, but...

    2003 Federal Income Tax Table

    Diana Said:my monthly income from ssi?We Answered:Let's see...that is the Federal benefit, right? It should be $603 per month, U.S. funds. However, if you work, depending on the state you live in and whether you are doing multiple part-time contingent jobs or steadier work this can vary considerably.... The general rule of thumb is: the first $60-100 dollars of *gross*, pre-tax income you make is ignored by the system unless you have a pending over-payment from a previous month. After that first $60-100, you lose fifty cents in SSI for every dollar you make, *pre-tax* (yep, it's a double tax...

    2003 Federal Tax Table

    Vicki Said:What is the military PCS weight limit for an E-5 with dependents?We Answered:The weight allowance is still 9,000 lbs for an E-5 with dependents. If you are on orders, contact the Transportation Management Office at your base for an estimate which is usually based on room size. In the past, the 9,000 lbs did not include packing material - be sure to check this out with TMO also. The following website provides the Joint Federal Travel Regulations (JFTR) table plus other information. From my experience in making 14 moves in 27 years, go through your...

    2004 Federal Income Tax Form

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    2004 Federal Income Tax Forms

    Micheal Said:Did you know that there is no law that makes you pay your federal income tax?We Answered:Did you know that you are wrong? Since you obviously don't know that, I'll let you know, YOU ARE WRONG. Title 26 of the UNITED STATES CODE is a codification of the actual tax laws passed by Congress and signed into law by a President. http://www.law.cornell.edu/uscode/uscode… Here are a couple of court cases about it. In United States v. McDonald, 919 F.2d 146 (10th Cir. 1990) and United States v. Studley, 783 F.2d 934, 940 (9th Cir. 1986), the court stated, "Indeed, as we...

    2004 Federal Income Tax Rates

    Marlene Said:If income tax was revoked for one year, do you think that it would jump start the economy?We Answered:An article from the IRS How to Soak the Rich (the George Bush Way) . By STEPHEN MOORE With the House and Senate preparing to vote on extending George W. Bush's investment tax cuts, it's no surprise the cries against "tax giveaways to the rich" grow increasingly shrill. Just yesterday Senate Minority Leader Harry Reid charged that the Bush tax plan "offers next to nothing to average Americans while giving away the store to multi-millionaires" and then fumed that it will "do much more...

    2004 Federal Income Tax Return

    Jay Said:Where can I obtain duplicate copies of my 2004 federal and state income tax returns?We Answered:Where did you get you taxes done last year? They are required to keep these records for you for free. If you did them yourself then I would have to suggest calling the IRS. Another place you could check would be the bank (in case they would of needed a copy of them for some reason)Good Luck!Craig Said:How long do I have to revise a tax return?We Answered:If the executor cashed it out, paid the tax, and just gave you the...

    2004 Federal Income Tax Table

    Tracey Said:What are the taxes in New York......?We Answered:New York state taxes Income tax rates Income brackets Personal exemption Federal Tax deduction State sales tax Low High # of brackets Low High Single Married Child 4.0% 7.7% 7 $8,000* $500,000* $0 $0 $1,000 None 4% + local levies *Income brackets are for single filers; double for joint returns. **Exemptions are allowed only for dependents. $ Personal income tax • New York residents must file Form IT-201 (Resident Income Tax Return) by April 17. • Both full and part-time New York residents may obtain downloadable income tax forms from the New York...

    2004 Federal Tax Rate

    Peggy Said:What is it going to do to the economy when obama & co allow the Bush tax cuts to expire at the end of 2010?We Answered:firewomen writes: "The rich have more access to tax breaks than "normal" people and then they got a big tax break on top of that" Myth #10: The Bush tax cuts were tilted toward the rich. Fact: The rich are now shouldering even more of the income tax burden. Popular mythology also suggests that the 2001 and 2003 tax cuts shifted more of the tax burden toward the poor. While high-income households did save more in actual...

    2004 Federal Tax Schedule

    Edwin Said:Will I get a tax rebate?We Answered:First find out if you qualify for a rebate depending on how much you worked this year, married, single, age, etc. Based on my situation, if you are single and worked full time this whole year and claimed 0, 1, 0r even 2 as your federal allowances you will qualify for the whole $600.00 rebate. If married you can get $1200. You get $300 per child as an additional credit. If you worked part time you will get $300.00. The key is that you have to file an...

    2004 Federal Tax Table

    Allan Said:Why are people claiming Republicans are pulling experience off the table by picking Palin? Here are the facts?We Answered:I don't think many people understand what executive experience means, and how important it is A governor is basically the 'president' of their state...They have the same responsibilities as a president (balancing budgets, raising/lowering taxes, approving or vetoing state bills, etcetera...They even have a 'cabinet'), just on a state level rather than federal...So she already does what a president does, just on a much smaller scale...That's why everyone points out her 'executive experience', which Obama, Biden and McCain (and even Hillary) do...

    2005 Federal Income Tax Form

    Carla Said:What are the income tax advantages that come with owning a home?We Answered:The only break that homeownership gives in Federal Taxes is that the Interest on the Mortgage payments are tax deductible. Most people take the standard deduction on the 1040, and for most people that is the best way to go. Homeowners can use itemized dedications and deduct all of their Interest on their Mortgage Payments on the 1040 as an itemized deduction. So the savings on your Federal Income Tax is the value of all the Interest on the Mortgage payments up to the amount of taxes that...

    2005 Federal Income Tax Table

    Mabel Said:How is percentage of social security tax determined once over the limit?We Answered:Excess Social Security or Railroad Retirement Tax Withholding Most employers must withhold social security tax from your wages. The federal government and state and local governments in some cases do not have to withhold social security tax from their employees' wages. If you work for a railroad employer, that employer must withhold tier 1 railroad retirement (RRTA) tax and tier 2 RRTA tax. Once the limit is reached for the year, the employer can stop withholding it Two or more employers. If you worked for two...

    2005 Federal Tax Book

    Eileen Said:Do you know what percentage of the federal budget is spent on entitlements?We Answered:By the time today's college grads hit retirement, payroll taxes will need to increase to 37% to meet today's promised liabilities. Add 20% for federal income tax, and ~6% for state income tax (on average) and that is over a 60% confiscation of wealth. Doesn't leave much to live on.Hilda Said:Are medical expenses tax deductable for 2005 and if so, up to what dollar figure?We Answered:Medical expenses are deductible on your federal return, if they exceed 7.5% of your adjusted gross income. Only the amount...

    2005 Federal Tax Chart

    Leo Said:Why do the rich have to pay all the taxes?We Answered:Are you asking a question or writing an essay?Zachary Said:Ford Escape Hybrid...how good is it? what is the cost? is it in Canada?We Answered:I am in the US so I'm not sure about Canadian availability but where I'm at (Chicago suburbs) we can't get enough of them! You can go to: http://www.ford.ca/main/default.asp?lang… (for info in Canada) And since i sell & drive Fords(in the US) , I'll give you a breakdown on the Ford Hybrid Escape there. Priced at $25,740 (FWD) Federal tax incentive is $3000 on this model. ( This vehicle qualifies for the largest...

    2005 Federal Tax Filing

    Billy Said:When is Federal and State tax filing for 2005 in Louisiana Katrina affected areas delayed till?We Answered:IRS - Aug 28, 2006 for individual income tax filing see this link http://www.irs.gov/newsroom/article/0,,i… for more see IRS Pub 4492 at the IRS web site irs.gov . I don't know about Louisiana, but states usually follow the IRS lead. They also should have a web site.Edgar Said:how do I get my 2005 federal income tax adjusted gross income?We Answered:If you happened to use a paid preparer for your 2005 return, they should have a copy in their records and would be...

    2005 Federal Tax Rate Table

    Audrey Said:Back child support and warrants ~ extradition?We Answered:Well that explains why he moved there. Nevada Child Support Enforcement Resource Center Nevada Support Enforcement Measures Who Can Enforce Court Ordered Child Support in Nevada Nevada Child Support Services Caseload Statistics Interest on Missed Child Support Payments Statute of Limitations on Back Child Support Statute of Limitations on Determining Paternity Age of Emancipation / Age of Majority How Are Child Support Payment Amounts Determined in Nevada? Custody and Visitation Issues You Have Options Even if the non-custodial parent lives outside the state of Nevada, the law requires cooperation between states. The non-custodial parent...

    2006 Federal Income Tax Forms

    Fred Said:If I over pay my state income tax and get a refund in 2006, is that refund taxable in 2007 on federal return?We Answered:Your state refund is taxable in some cases. None of your refund is taxable if, in the year you paid the tax (2006) you either a) did not itemize deductions or b) elected to deduct state and local general sales taxes instead of state and local income taxes. If neither of these apply to you your refund is taxable. You should have received a 1099-G form from your state department. If you did itemize deductions and you deducted state...

    2006 Federal Income Tax Table

    Jeanette Said:I need an income tax refund estimation. I received 2 different refund amounts from two services. HELP!?We Answered:Here's a ballpark figure, based on these assumptions: You can legitimately file married. You have no children/dependents. Your husband had no income. Your total income was about $30,000 gross and you've had withheld about $4,000. You were born AFTER Jan 2, 1942. Looking at the long form 1040 line 22 and 37 and 38 are $30,000. You get to subtract $10,300 (standard deduction, line 40) and $6,600 (2 exemptions, line 42, you and hubby) giving you taxable income of $13,100 (line 43); your...

    2006 Federal Income Tax Tables

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    2006 Federal Tax Chart

    Allan Said:2006 federal income tax questions?We Answered:Yes, if you just have one job, pretty much, although not exactly. And if you have multiple jobs, either you personally or you and a spouse filing a joint return, you could end up owing a fair amount.Craig Said:What % of tax would they take from a check for $550?We Answered:The easy ones to figure out are the social security and medicare taxes that will be a total of 7.65% per a pay check or $42.08 as far as federal with hold that depends on factors like dependents and that for a pay...

    2006 Federal Tax Estimator

    Joseph Said:I just used a tax estimator & guessing I made $18Gs last year it estimated I owe nearly a grand WHAT?We Answered:Are you taking account of withholding? You have probably had taxes withheld from your wages. If you failed to calculate that in your estimate it would show as still needing payment. Also did you calculate in the standard deduction?Denise Said:I want to know more about income tax of USA...?We Answered:This is insanely complicated. If you want real answers you either need to get a tax expert or pay $40 US or so to download...

    2006 Federal Tax Forms

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    2006 Federal Tax Rate Table

    Dan Said:What taxes does a minor pay?We Answered:Minors owe income tax just like anybody else. Being a minor only means that you could combine your income with your parents, but this is almost never a good idea since presumably they are in a higher tax bracket than you are so you'd end of paying more than if you filed on your own. With $5150 of income, you do NOT owe any federal income tax, but it doesn't have anything to do with being a minor or a dependent. It's because that's not enough to cause you to owe any....

    2006 Federal Tax Table

    Wendy Said:Is it true that in ohio the more money i make on my income the more tax i get?We Answered:Yes, this is true for Federal income tax as well. The more you make, the more they take. In OH, go to http://tax.ohio.gov/documents/forms/ohio… and on page 28 is the tax table. You can look up what they take per year. The federal government has a similar set up. The more you make, the higher your tax bracket is. You can look on the IRS website to see how much you have to pay.Vernon Said:how can...

    2007 Federal Income Tax Table

    Randall Said:Why do I owe back income tax? Should I see an accountant?We Answered:As the others said, there's no need to see an accountant. Your numbers are right on target. Looking at your situation another way, you made $3,273 dollars more this year than last year and only paid $308 dollars more in taxes. (That's about 10%.) At your income level, you are actually in the 10% tax bracket so, every taxable dollar more that you make is going to be taxed at 10%. (Because you are on the low end of the 10% tax bracket, once the standard deduction...

    2007 Federal Tax Table

    Jacqueline Said:Will I need my 2006 tax returns in order to fill out my 2007 returns??We Answered:If you itemized, in most instances you will. Good examples are if you paid alternative minimum tax {AMT} in 2006, depreciation tables; year ending inventory for 2006, IRA information because software asks you for fair market value of the investments, net operating loss carryover, and, especially, if you sold stock, stock funds or mutual funds. I say that because the brokerages only send to the IRS proof of the sale transaction. That means the IRS thinks that is all...

    Address Federal Income Tax Return

    Valerie Said:Address of where to send Federal Income Tax Return and California Tax Return?We Answered:Federal return: Depending on the type of form and whether you owe taxes. Consult page 293 of IRS Publication 17 for California. It should be one of the PO Boxes in Fresno CA. http://www.irs.gov/pub/irs-pdf/p17.pdf CA State tax with no payment return Franchise Tax Board PO Box 942840 Sacramento, CA 94240-0002 CA State tax with payment return Franchise Tax Board PO Box 942867 Sacramento, CA 94267-0001 Best wishes.Tracy Said:is there anyway i can find out if my income tax return will be intercepted?We Answered:Federal law requires the Department to give you prior notice of...

    Calculate Federal Tax

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    Calculate Federal Tax Withholding

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    Calculate Federal Withholding Tax

    Donna Said:how do I calculate foreign tax credit on dividend withholding?We Answered:You need to refer to Federal Tax Law Sec. 12.10.09 Code 5.1Tara Said:How is the Federal Tax Withholding on my pay stub calculated?We Answered:How much that is withheld is based on a percentage calculated by the IRS. They designate a percentage to be withheld based on your filing status, how many dependents you have, and how much you make. The percentage is based on how much the IRS estimates that you will owe in taxes each year. In some pay periods if you made a lot...

    Calculating Federal Tax

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    Canadian Federal Tax

    Clarence Said:Income Tax Canadian Soldier working overseas on behalf of the Canadian Government?We Answered:As a member of the Canadian Forces, the soldier would likely be considered a "deemed resident." Under that status, he or she will need to pay federal tax and will be eligible for federal tax credits. Instead of paying provincial tax, there will be a federal tax surcharge.Willard Said:What is dividend tax rate for canadian that received these dividend from a canadian company?We Answered:There is no special "tax rate" for dividends. There IS a Dividend Tax Credit, deducted directly from Federal and Provincial tax, calculated on the respective...

    Child Credit Federal Tax

    Roger Said:Should we end the Federal Child Tax Credit?We Answered:Dog, while no one can rely on social security these kids will be paying for someone's social security who doesn't have kids. I use to agree with your point of view but now I see things in a different way. Edited to add: They may not be paying your social security but the federal child tax credit has been around since 1993 (or something like this) so, it's been 14 years and I'm sure some kids whose parents benefited from this credit are now working (paying social security taxes for some people...

    Copy Of Federal Income Tax Return

    Micheal Said:I have 2 q's on applying for federal student aid: on obtaining new copy of income tax return & separation?We Answered:You can contact the IRS and ask for a copy be mailed to you... it will cost you about 30 dollars and might get to you before you retire.. (kidding, but not by much). Just call the IRS and be prepared to be on hold for about 45 minutes (kidding, but not by much). If your husband had your taxes done by an agency like HR block, you can go to that location and get a copy. ...

    Deduction Federal Tax

    Louise Said:If I itemize my federal taxes, what is the affect of gaining a state deduction for a 529 plan?We Answered:To my knowledge, your 529 plan has no impact on your federal tax bill. It is only reflected in your state income tax return assuming that you are involved in a plan within your state. For example, your contributions to the Brightstart Illinois plan would only count if you lived in Illinois. If you live in Illinois but are participating in, say, the Idaho plan (offered via Fidelity or something like that), you lose the benefit of...

    Electronic Federal Income Tax Filing

    Patricia Said:Is the 8453-OL form for Income Taxes used for Federal or State taxes?We Answered:I hate getting to questions after TaxMan does. He's right on - again. Some states call their forms an 8453, some have an entirely different form and number, and some states piggyback off the Federal form and don't have their own at all. In Ohio, for instance, filing the Federal 8453 is good enough, and you don't file a seperate state form. Keep in mind that the 8453 is simply a declaration of electronic filing, and not an actual return. Each state that imposes an income...

    Exemption Federal Tax

    Eduardo Said:No federal tax has been deducted from my W2 since I had filed w4 exemption. How will I get the rebate now !?We Answered:The rebate is based off your 2007 net tax liability. 1040 line 46. 1040A line 28. 1040EZ line 10. If your net tax is under $300 and you made over $3,000 dollars then you get the minimum of a $300 rebate. If your net tax is over $600 and then you get the maximum rebate of $600. If your net tax is in the middle say $450 then you will get a rebate of $450. You must file your 2007...

    Federal 1040ez Tax Form

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    Federal Business Opportunities

    Gilbert Said:How can we get Government Grants to start a carbon sequestration business?We Answered:It is hard to find grants to start a business. One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/… , which fund the research and development of technological innovation that meets specific government needs. If you can get your business to be approved for STTR or SBIR programs, then you might get a chance to get grants for this new business. Your best...

    Federal Business Search

    Duane Said:Can I register a business name in my state if that name has a trademark on the federal website??We Answered:Yes and no. Mostly no. Although the business name is not found on your state's website, you can still be liable for federal tradmark penalties. With that being said, if someone did not renew their federal trademark after 6 years, then you can legally use that name. The best advice I can give you is to simply call your state commission. Good luckFrank Said:where can I find information on federal grants for small business?We Answered:Check with the Small Business Administration http://www.sba.gov Also,...

    Federal Business Tax

    Francis Said:does a small business owe sales tax to a manufacturer if it is reselling the product to federal goverment?We Answered:Not if you have a Federal Employer Identification Number and a resale license (aka sales tax collection permit).Nicholas Said:Will I be charged federal and/or state tax on my Ebay business inventory?We Answered:There is no federal tax on inventory. If you are running a business that buys and sells things, tax depends on revenue minus costs.Leo Said:Which federal and california tax forms do you use if you had your own business and also worked as an employee?We Answered:I'm not in...

    Federal Business Taxes

    Roberto Said:Connecticut and Federal Business Taxes?We Answered:depends on whether it's a schedule C business, C corporation, S corporation, or a partnership. Those all have different tax rates, or minimum taxes.Lee Said:When filing federal taxes on a self employed business can you take gas as deduction or do you use mileage?We Answered:You use mileage based on what was used solely for the business. There is no limit, however just know the self-employed individuals are the IRS's favorite audit target, so you better have EXCELLENT records of every mile claimed!Kent Said:Obama says he will cut the federal deficit in half his...

    Federal Capital Gains Tax

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    Federal Capital Gains Tax Rates

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    Federal Capital Gain Tax

    Daryl Said:Capital gain tax question about stocks?We Answered:It would be a percentage of your gains on the stock. Calculate how much more you get (after commissions) when you sell it than what it cost you (including commissions). Another factor is how long you've owned the stock. If it's more than a year, you have a "long-term" capital gain which will be generally taxed by the US at 15% or 5% depending on what tax bracket you are in. (If you're in the 10% or 15% bracket, it will be 5%, otherwise 15%.) If it's less than...

    Federal Capital Gain Tax Rate

    Dorothy Said:What is my capital gains tax rate?We Answered:With your income, the long term capital gain tax rate is 0% (it is 15% only when you top income is in 25% tax bracket). Short term capital gain is your ordinary income. Read http://taxipay.blogspot.com/2008/04/list…Suzanne Said:Question about tax on stock capital gain? Thanks. ( I am a US citizen status)?We Answered:Under the current tax law, the federal tax rate on long-term capital gains is 15%. Long-term is defined as more than one year. If you bought on June 16, 2008 and sell on June 16, 2009, that is short term. Short term capital gains are...

    Federal Corporate Tax

    Kathleen Said:What country has the lowest corporate tax rates between the US and Canada?We Answered:This isn't a trick question. Canada is more business friendly as far as the corporate tax rate is concerned. the US avg corporate tax rate is 33% (federal plus state), where Canada's avg rate is 32.5%Willie Said:I live in WA state. I just filed my Federal tax return. Do I still need to fill out STATE TAX RETURN FOR WA?We Answered:Washington State does not have a personal or corporate income tax.Dora Said:How do you know if a tax is federal, state, or local?We Answered:The Federal Government collects...

    Federal Corporate Taxation

    Kimberly Said:what is the ratio between income tax and Corporate tax in the U.S.?We Answered:I don't think it's that low, but I'll see what I can find. Wow, I didn't know you were THIS wrong about Federal): http://www.taxpolicycenter.org/briefing-… Couldn't find much on how states get most of their income but, for states with an Income Tax of their own, they're probably like MY state - New Jersey: http://sunshinereview.org/index.php/New_… Local government bodies get most of their income from Proporty Taxes. Bottom-line: Your memory is faultyVictoria Said:Isn't there a little TOO much taxation going on? Regardless of your political affiliation?We Answered:Agreed. A partial list of taxes that we...

    Federal Corporate Taxes

    Lee Said:Why has the corporate share of total federal income taxes gone down from 28% in 1960's to 5% today?We Answered:It hasn't. In 2007, corporations paid $370 billion in income taxes. Individuals paid $1,163 billion in income taxes. The corporate share of federal income taxes is 24.1%. In 1960, corporations paid $21.5 billion in federal income taxes. Individuals paid $40.7 billion in income taxes. The corporate share of income taxes was 34.6%. In 2000, the last year of Clinton's Presidency, corporations paid $207 billion. Individuals paid $1,004 billion. The corporate share of income taxes was...

    Federal Corporate Tax Form

    Lydia Said:Is Federal Income Tax Voluntary?We Answered:Voluntary COMPLIANCE, yes. Voluntary compliance does NOT mean that income taxes are optional, however. It means that you self-assess by filing a tax return by the filing deadline to determine what you owe. If you fail to file, the government will do it for you using tax considerations most favorable to the government, not you, and bill you for any tax due. If you don't pay, they can use enforced collections to collect what is due. Your assertion that there is no law is patently false. Google Title 26, US...

    Federal Corporate Tax Forms

    Karen Said:When I change my state of incorporation for my business, may I retain my Federal Tax Number?We Answered:Yes, your corporation may keep the same federal id number. The mere change mere change in identity, form, or place of organization (from one U.S. state to another, but not to a foreign country) of one corporation, however effected is known as an "F Reorg". It is a non-taxable event as described in Internal Revenue Code Section 368(a) (1) (F). Make sure that you attach the appropriate disclosure to the corporate tax return for the year of change.Arlene Said:I...

    Federal Corporate Tax Rate

    Clarence Said:If "you" could set the combined Corporate Tax rate in the United States . . .?We Answered:I would have to embody 44 governments to do so (only 43 states even have a corporate tax). But okay, I'll play. At the federal level, I would use a buzz saw, then a hatchet, then a scalpel to cut the federal budget. I would probably eliminate two of the president's cabinet posts and cut two or three more departments in half. I would also seek to eliminate some of the committees in Congress, limit their power in investigations and oversight, and bring...

    Federal Corporate Tax Rates

    Jamie Said:America's corporate tax rates are higher than most other industrialized nations. Should they be lowered?We Answered:My thoughts are that a nation that is anti-business with it's tax code cannot expect businesses to swarm it's shores....nations such as Ireland or England (pre-Gordon Brown) were providing tax incentives to businesses and corporations...this brought a tremendous amount of wealth to their shores and brought foreign investment in both countries to historic levels. The US however has been chipping away at it's tax rates over the last eight years, but now a new administration has basically announced war on corporations who do any business...

    Federal Electronic Tax Filing

    Duane Said:i filed my federal tax return twice, what will happen?We Answered:The most optimistic way of looking at it is the electronic filing will come and be processed before the mailed-in return arrives. Then things will proceed pretty much normally. The paper return will be "flagged" for some examiner to look at to see if it is the same or not. The more pessimistic scenario is they arrive close to the same time, then the go "unpostable," which puts both returns in limbo basically until a human examiner can view them. If you are getting a refund, it will be delayed,...

    Federal Filing Income Tax

    Evelyn Said:certifacation of exemption from filing federal income tax returns? what does this mean?We Answered:Some people do not have to file income tax - for example, if you don't have enough income to qualify, you don't have to file tax. There are other reasons as well - but your best bet is to contact a tax office near you (or a tax accountant) and find out if you DO qualify for the exemption. Make sure, because if you sign the paper and the feds discover that you are not elegible for exemption, you can be in deep doo doo.Patrick Said:What...

    Federal Form Income Tax

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    Federal Gift Tax

    Georgia Said:Do I have to pay a tax after giving away car as a gift?We Answered:Less than $12000 FMV, no federal gift tax liability on you. And selling for $1 doesn't change it from being a gift as that is substantially below FMV. So there should be no income tax repercussions for either of you on the transaction, and surely he can handle the $25, plus license and title fees, which accrue, plus insurance. .Allen Said:Where do I find information on 1981 Federal Gift Tax?We Answered:IRS.GOV in the key words box put 1981 gift tax. You should find what you...

    Federal Gift Taxes

    Tony Said:Does Massachusetts have any state gift taxes?We Answered:I do not live in Mass. but I understand that there is no gift tax.Rafael Said:Federal Estate/Death/Gift Taxes Question?We Answered:2. There is no estate or gift tax between spouses. 1. If the property is appreciated, it may be better to pass it upon death. That also makes sure it is still available to the grandfather during his life. He can gift a million in excess of the $13,000 annual exclusion if he so desires. If the estate is very large, it would be wise to consult a good estate attorney....

    Federal Gift Tax Exemption

    Alma Said:How do I gift property to a family member? What are the tax benefits? Who does the transaction?We Answered:You (as the giver) have to file a Federal Gift Tax return. Depending upon the amount of the gift, YOU may owe gift taxes. The recipient never pays taxes on gifts. The tax benefit is that there are annual and lifetime exemptions on taxes for gifts that you give. Consult with a tax advisor (CPA or tax attorney) as the rules are complex.Caroline Said:Say someone gives me $90k in cash and I put it in my checking account. How...

    Federal Gift Tax Return

    Jason Said:Question about gift tax. My MIL is about to inherit a sum of money. She is giving some to us. Is there a way?We Answered:The recipient never pays tax on a gift. A gift, no matter it's value, is not considered income and it is not taxable. For the giver, a person can give up to $13,000 in 2009 without triggering the Gift Tax. So if your MIL wanted to give you and your husband $26,000, she would give each of you $13,000 and there are no tax ramifications. If she wants to give you...

    Federal Government Bond

    Milton Said:How does the US federal government raise money, besides taxes?We Answered:The big one now is the printing press. The Fed is running the presses like mad, and if this goes on long enough we will be swamped in massive price increases. The US government also conducts Treasury auctions, where US securities are sold. This is where foreign investors buy US Treasury Securities, such as US bonds.Agnes Said:Why is the federal government making such a big issue out of the alleged steroid usage of pro athletes?We Answered:So they look to be doing some good with something easier than the...

    Federal Government Bonds

    Carolyn Said:Where can I buy US government bonds?We Answered:If you do not have a regular brokerage, try treasury direct: http://www.treasurydirect.gov/ The type of bond determines where you can purchase it, so you need to decide which type of bond you would like to purchase first. Bonds are debt obligations. Federal bonds are issued by the federal government, while municipal bonds are issued by state governments or local municipalities. In either case, the revenues from the bonds are generally used for financing government projects or activities. These bonds are also different from regular bonds in that many of them offer special tax incentives for...

    Federal Government Income Tax

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    Federal Government Income Tax Forms

    Terry Said:Should we do away with the federal income tax?We Answered:The original income tax system established by the New Deal was necessary to provide federal support to thousands of Americans during the Great Depression. At the time of its institution, it greatly assisted in spurring the American economy out of the desperate times. The prior 126 years of American history details a financial different picture than today's America. For one, the country was a lot smaller with few people. The great immigration boom did not occur into the earlier part of the 20th century. Governmental obligations were...

    Federal Government Tax

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    Federal Government Tax Form

    Angel Said:My federal tax returns were rejected because my ex husband claim my son but I have the court order form?We Answered:"I have the court order form" means absolutely nothing. All that matters is who the child lived with during the year. If the child lived with you over 1/2 the year, assuming all the other criteria are met, you are entitled to claim the child. If the child lived with your ex over 1/2 the year, your ex would get to claim the child no matter what court documents you have in your hand. The Internal Revenue Code defines dependents, etc.,...

    Federal Government Tax Forms

    Shawn Said:Will I get a tax form from the federal government?We Answered:I'm not quite sure what you are asking but I'll try. The federal government does not mail out forms for the federal tax refunds they issued last year. The states do so because in some circumstances, the state refunds may be taxable. The second part of the question seems to involve the need to wait for all your W2s before filing (at least I think that's what you are asking). If so, yes by all means wait til you have all W2s before filing. The IRS is getting downright cranky about folks filing without having the W2s...

    Federal Government Tax Id

    Cheryl Said:Is the Federal Reserve a government agency or a private bank that has enslaved us all by design?We Answered:1. The Fed is privately owned by various entities INCLUDING foreign entities. according to their website "the Fed," is the central bank of the United States. It was created by Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role has evolved and expanded." HA! look what it has done to our economy, our dollar which they have devalued 96%. and id like to know whats included in their "evolved,...

    Federal Government Tax Return

    Jennie Said:How will a discharged student loan affect my federal tax return?We Answered:If the loan is discharged, IRS should not keep your tax refund. Normally, debt cancelled must be reported as income on the tax return. Read about debt cancellation, http://taxipay.blogspot.com/2008/08/us-i…Salvador Said:Can i expect any tax returns while on unemployment if state and federal was automatically deducted?We Answered:Are you self supporting (you provided more than half your own support from unemployment comp. and any loans or grants)? If so, you will claim yourself and get all your federal withholding tax back. You don't say what state so I can't...

    Federal Income Table Tax

    Cassandra Said:What are the Federal Income Tax rates In Ohio?We Answered:The tax table below will show in detail the Ohio state income tax rates by income tax bracket(s). There are 9 income tax brackets for Ohio. If your income range is between $0 and $5,000, your tax rate on every dollar of income earned is 0.587%. If your income range is between $5,001 and $10,000, your tax rate on every dollar of income earned is 1.174%. If your income range is between $10,001 and $15,000, your tax rate on every dollar of income earned is 2.348%. If your income range is between $15,001 and...

    Federal Income Taxation

    Juanita Said:What percent of your income do you have to pay for federal taxes? California state taxes? Social Security tax?We Answered:For 2009 the Fed tax on $40000 income for a single person would be 10% on the first $8350 of income,15% on the next $25600 of income, and 20% on the remaining $50. If your married filing jointly then the income bracket levels double, in this case 10% on the first $16700 and 15% on the remaining $23300. SSI would be 6.2% and Medicare would be 1.45% on the whole $40000. The taxable income would be reduced if you had...

    Federal Income Taxes Filing

    Kathy Said:what's thd difference between filing for state and federal income taxes?We Answered:They are totally separate. For the federal, you get back whatever you paid in minus whatever you owe. Also, you might be eligible for the Earned Income Credit which is additional money that low income people get if they're working, and sometime middle income people with kids. At the state level, laws vary. Some states don't have a state income tax. In some that do, it's a flat rate, and many are graduated. If you're getting a refund, it's probably more common to get...

    Federal Income Tax Book

    Bob Said:Which book should I read to get a good understanding of US Income Tax laws?We Answered:JK Lasser has some good material. a plus for Lasser is that it is exhautive when you need to know income tax laws for individuals. Another pretty good one is Kiplinger. If you subscribe to the EA journal put out by the National Association of Enrolled Agents, you will get in-depth knowledge of particular situations and up-to-date. It costs to join, but if you pay, the Tax Research service will enable you to find the answer to any question you...

    Federal Income Tax Electronic Filing

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    Federal Income Tax E File

    Bernice Said:us federal income tax e file?We Answered:Federal Income taxes can be efiled in a variety of ways. You can visit online sites, such as the IRS FreeFile, or commercial sites such as TurboTax or H&R Block and complete your taxes online and file them electronically. Alternately, you can purchase the commmerical CD version of TurboTax, TaxCut and other tax preparation packages which allow you to file electronically as well.Lewis Said:What is the earliest you can file federal income taxes? What is the fastest way to get it the return?We Answered:The rapid refunds are a huge ripoff. And unless...

    Federal Income Tax File

    Charlotte Said:do people on S.S.I. need to file a Federal Income Tax Report?We Answered:Probably not.You will recieve a form from Social Security near time to file taxes that (after you complete the form) will tell you whether you need to file or not.If you do not earn up to the amount stated,you will not need to file at all.If your disability is your only source of income for the year,chances are you will not have to file.I am speaking for Federal only.I do not know about California`s state tax laws.Walter Said:If corporation have no business at all should it file...

    Federal Income Tax Filing

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    Federal Income Tax Filing Extension

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    Federal Income Tax Filing Free

    Ruben Said:To Staes with Sales tax- When filing your taxes for the year, do you have to file State and Federal?We Answered:This is the travel section - your question probably would be better off in the "tax" section. To directly answer your question: Sales tax status has no effect on the filing of federal or state income tax filings. You are filing *Income* tax returns, not *sales* tax returns. While yes, the federal government has given sales tax refunds the past few years, it really has little to no effect on whether or not you file a state...

    Federal Income Tax Filing Online

    Cynthia Said:i filed both state of sc and federal income tax online will the be put in my bank at the same time how long to?We Answered:If you have nominated a bank account then the refund should be deposited there. Usually where the returns of income tax are fairly straightforward the processing time is comparatively short....

    Federal Income Tax Form

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    Federal Income Tax Forms

    Tracey Said:How do you Figure out federal and state income tax taken out of my check?We Answered:It varies. Federal income taxes are graduated. The tax rates rise as income rises. The amounts withheld also depend upon how many withholding allowances you claim on the Form W-4 filed with your employer. For example, if you are a single taxpayer and not the dependent of another taxpayer, the first $8,450 in wages isn't taxed at all. The next $7,825 is taxed at 10%. The next $24,025 is taxed at 15% and the next $45,250 is taxed at 25%. The...

    Federal Income Tax Forms Online

    Leroy Said:Are we required by law to file Fed Income Tax? If yes, you must give Law Number?We Answered:Title 26 U.S.C is the prima facie law. You can read it at the following websites. http://www.law.cornell.edu/uscode/uscode… http://uscode.house.gov/download/title_2… http://www.access.gpo.gov/uscode/title26… There are others, but you can do a web search for yourself. As I mentioned, Title 26 U.S.C. is the prima facie law. What that means is that Title 26 wasn't specifically passed by Congress in the codified form that is Title 26. HOWEVER, the individual laws that were passed by Congress were codified as Title 26. Those individual laws are what is called...

    Federal Income Tax Form 1040a

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    Federal Income Tax Form 1040ez

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    Federal Income Tax Help

    Erin Said:Is Federal Tax Withheld or US Income Tax Paid are the same?We Answered:No, they aren't the same. US Income tax paid is what you paid in minus any refund you got. You could have an amount withheld that's more or less than your income tax - if you didn't have enough withheld, you'd owe; if you had too much withheld, you'd get a refund.Lauren Said:Is Federal Income Tax mandatory to pay? What are the consequences?We Answered:Zeitgeist is a MOVIE, not a "documentary." It's got about as much to do with reality as Snow White or Cinderella....

    Federal Income Tax Information

    Hilda Said:Are there some websites to calculate the income tax (simulator and information) when you live in New York?We Answered:Go to www.irs.gov to figure your federal income tax. Go to www.tax.state.ny.us to figure your New York income tax.Tony Said:is federal income tax and social security tax different in each state?We Answered:You asked "is federal income tax and social security tax different in each state?" The answer is no, only state taxes are different. The answer to the question that you should have asked is: Income tax is different in different states. Although the federal taxes will stay the same, your state income tax...

    Federal Income Tax Late Filing

    Mae Said:Can I contribute to a Roth IRA after filing Federal Income Tax but before April 25, 2008?We Answered:A clarification to your clarification. You can reference IRS publication 590. http://www.irs.gov/publications/p590/ind… For the 2007 tax / calendar year, you have until April 15th, 2008 to make your ROTH IRA contribution. ROTH IRA contributions are not declared on your tax return, but you must inform the custodian of your IRA account for which year the contribution is attributable. (e.g. If you did not contribute for 2007 or 2008, on April 4, you can make a contribution for either year.) However, since the custodian must...

    Federal Income Tax Rate Table

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    Federal Income Tax Refund Information

    Nicole Said:I need to trace our already filed 2005 income tax refund. How do I go about it?We Answered:For federal, go to www.irs.gov and you will find something like "where is my refund" link. You go there and enter necessary information and it will tell you the status. For state, there is a similar link if you visit the state's site. Good luck.Lillian Said:Help me figure out my income tax refund?We Answered:Your question begats more questions in order to compute an accurate answer. Short history follows. If you are both students what year in college are you; first...

    Federal Income Tax Refund Status

    Freddie Said:What is the status on the federal income tax rebate this year?We Answered:The rebate plan is currently in the Senate. Under the terms of House bill, individual taxpayers would get up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child under the agreement. Families who make at least $3,000 but don't pay taxes would get $300 rebates. The amount of the proposed rebate depends on how much taxes you paid on your 2007 return. If you are single, you would be eligible to receive a rebate of up to $600 if you paid that...

    Federal Income Tax Return

    Rafael Said:Is money received from the u.s. treasury for a federal tax return considered texable income?We Answered:Your Federal refund is NEVER taxable income you your Federal return. State income tax refunds are only taxable on your Federal return if you itemized deductions LAST year and took a deduction for state income taxes paid. In all other cases they are not taxable income on your Federal return.Julio Said:Can Massachusetts vehicle excise tax be claimed on my federal income tax return? If yes, where?We Answered:If it's based on the value of the vehicle, it's a property tax, so is deductible as such...

    Federal Income Tax Return Address

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    Federal Income Tax Return Calculator

    Darren Said:Am I eligible for the making work pay credit on my income tax return?We Answered:Dear DJ: H&R Block's free calculator show a refund of $946. EITC + MWP credits. This advice was prepared based on our understanding of the tax law in effect at the time as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent.Beverly Said:Where can i find a "accurate" income tax return calculator?We Answered:I filed using Turbo Tax federal free online edition.Pearl Said:"what percentage of withheld federal income tax is refunded in the tax return?"?We Answered:It is...

    Federal Income Tax Return Filing

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    Federal Income Tax Return Form

    Susan Said:I already filed my federal tax return, but still need to file a state income tax return, what form do I file oWe Answered:You file it on state income tax return form. In Illinois it's IL-1040 or IL-1040EZ. Some states even offer easy on line filling. Go to your local library and pick up the forms and instructions or go to your state's treasurer's site and download forms there or learn of other options, such as on line or phone filling....

    Federal Income Tax Return Online

    Sherry Said:Is there a way to view my 2006 federal income tax return online?We Answered:No that is unavailable, but it is coming!Laura Said:Income tax return (first timer)?We Answered:If you're doing it online, the software or website will use the appropriate 1040 based on your answers to their questions during the tax interview. E-filing is pretty easy and walks you through step-by-step. The IRS has a Free File Program to e-file your federal return through tax service partners for free; millions of taxpayers qualify for this service. However, It doesn't start til mid-January. Depending on your state and/or Free File...

    Federal Income Tax Table

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    Federal Income Tax Tax Table

    Glenn Said:Is the 'Federal Income Tax' Legal?We Answered:The lawyer you are referring to, Tommy Cryer, did win but not on his ridiculous tax constitutionality argument. He was able to convince a jury that even as an attorney he was too stupid to realize that he had to pay taxes I believe on income off of a clients trust. His arguments about the illegality of taxes weren't even heard by the jury. The charge was for willful failure to file tax returns, which requires willful act. He is still required to pay the unpaid taxes, plus penalties and interest. Taxes are 100...

    Federal Income Tax Withholding Form

    Terry Said:Am I required to have Federal Income Tax withheld from my pay?We Answered:If you are single and can't be claimed as a dependent on anyone else's tax return, you must file a return if you made over $8,750 in the year, regardless of how much taxes were taken from your paycheck, or what you claimed on your W-4. Claiming exempt on your W-4 does not automatically mean that you don't owe taxes, or that you don't need to file a return. That form is simply to report to your employers how much to withhold from your paycheck. If you do...

    Federal Income Tax Withholding Table

    Henry Said:How do I find out the % of the state and federal income tax taken out of a pay check for the state of?We Answered:some state web sites have the withholding tables on them and you can access them to find out however, for each and every state, SS is 6.2%, Medicare is 1.45% and whatever your state disability is, possibly 1%...

    Federal Individual Income Tax Table

    Roy Said:Do I have to fill out the U.S individual income tax return and Colorado individual income tax return?We Answered:That's is great! If you have already paid the Internal Revenue Service the amount you owe you for your 1040 you wont have to worry about them. However, if you a resident of Colorado you must also file a separate state income tax return, in Colorado this would be form 104. You must report all wages you earned within that state. Because the State and Federal Income Tax tables are different, you may even get money back or worst case you...

    Federal Inheritance Taxes

    Jean Said:Is there Federal and State Inheritance taxes ? I want to know about ....?We Answered:There is no federal or New York "inheritance" tax. I am not sure about NJ or Illinois. There might be a federal ESTATE tax, depending on the value of the business and properties.Wade Said:If someone receives approx. $150,000 in inheritance in Mass are they subject to state/federal taxes- how much?We Answered:Not 100% sure about the Commonwealth of Massachusetts, but there's no Federal tax on an inheritance of $150,000.00. They've changed the rules lately. The Federal ceiling was set at $600,000.00, but it has...

    Federal Inheritance Tax Law

    Kay Said:What would be the Federal and FL state tax liabilities for a 200k estate in Florida?We Answered:You will owe nothing for either federal or state....For Federal Tax, the first 2,000,000 is exempt from the estate tax. The state of Florida has no estate or inheritance tax.Brittany Said:Is there tax payable on a $10,000 inheritance?We Answered:Pennsylvania has an inheritance tax. The inheritance tax is 12 percent for siblings, so $1,200 in inheriatance tax will be paid in order for your friend's mother her to receive her $10,000 inheritance. Unless the brother-in-law's estate was very, very large no federal estate tax...

    Federal Payroll Tax Form

    Lauren Said:On Federal W2 form - do I claim zero to get more back at tax time?We Answered:To get the maximum deducted from each paycheck and therefore maximize your refund, you need to claim zero. I used to be an accountant and do payroll.Cheryl Said:How often should I pay payroll federal taxes?We Answered:At least once a quarter. Usually you are required to make monthly or weekly deposits at a bank for the taxes, but if it is very small you can wait until you file Form 941 after each quarter.Phyllis Said:Is it illegal in NYC for an employer...

    Federal Payroll Tax Forms

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    Federal Payroll Tax Table

    Rebecca Said:what percent of federal tax is supposed to be taken out of your check?We Answered:It depends on your status (single or married), how often do you get paid: weekly, bi-weekly (once every 2 weeks), semi-monthly (twice a month), monthly (once a month), quarterly (once per 3 months), et cetera. And of course, it also depends on how much your gross salary is. See IRS Publication 15, start with page 35- you can calculate your own federal withholding if you follow the instructions. For instance, if you're single & earn $60,000 per year & get paid on...

    Federal Payroll Tax Tables

    Joel Said:When calculating federal payroll tax is medicare and Social Security "tax" already included in the tax tables?We Answered:What tables are you talking about.Ross Said:Is it correct that the company i work for does not have to take out federal taxes in my payroll check?We Answered:Based on the withholding tables, you woulds not have any federal taxes deducted on 300 gross bi-weekly. Your annual earnings would be 7200 which is below the allowances for the year.I have attached the withholding table for your reference. http://www.irs.gov/publications/p15/1000…Laura Said:Where could I find the payroll tables to calculate a net salary? withholding taxes tables...

    Federal Payroll Tax Withholdings

    James Said:question on taxes and payroll withholdings?We Answered:Personal choice--some people feel that they do not want Uncle Sam using their money all year long. Other people want to make sure that they get a refund at the end of the year. You can figure how much you will owe at the end of the year if your income remains about the same. Pick up your gross from your last check stud in June. Double the gross amount, then go to the year end tax table. Look under your true status, i.e. married w/3 or single/0. Let's say you should have...

    Federal Payroll Withholding Tax Table

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    Federal Sales Tax

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    Federal Sales Tax Deduction

    Francis Said:Tax return and sales tax deduction?We Answered:If you itemize your deduction on Schedule A, you may claim either state and local income taxes or sales taxes as an itemized deduction. If you choose to claim sales taxes paid, you may use the IRS's guidelines for estimated sales tax paid and add actual sales tax paid for big ticket items such as a used car. If you take the standard deduction you cannot claim the sales tax paid.Lena Said:Can you claim both sales and use tax on federal income tax return, instead of state income tax?We Answered:If you are a...

    Federal Savings Bonds

    Darrell Said:My sister is going thru a divorce, I think her hubby stashed alot of cash into savings bonds. Is there a way?We Answered:If Hubby is stashing money in US Savings Bonds, your sister's attorney should file a request with the United States Department of the Treasury, Bureau of the Public Debt. Unfortunately, soon-to-be divorcing spouses treat hiding money like a real game. Some are more clever than others. The attorney should determine if there are accounts in the girlfriend's name or in the name or his parents or siblings. The attorney should also check his federal...

    Federal Small Business Tax

    Gary Said:Is it worth it for a high school tutor to register his small business with the Federal Government?We Answered:Do not listen to the first poster... he's obviously doesn't recognize your serious intent and desire. Even if you're running a small business with a lot of "under the table" cash, there's no reason to not start learning how to do things the right way now. You will only benefit from the knowledge you'll acquire, and it will help you in future business endeavors. First of all, it's not a question of it being "worth it", it's a matter of...

    Federal Solar Tax Credit

    Fred Said:Home-made solar panels VS. 30% federal tax credit?We Answered:No, home-made goods do not qualify since they don't have the manufacturer's EPA certification.Lawrence Said:what amount to list for the solar tax credit ?We Answered:Solar Energy Industries Association (SEIA) has published a three-page document that provides answers to frequently asked questions regarding the federal tax credits for solar energy. Their answer; deduct the rebate from the cost. If I receive a rebate for my system from my utility, does that reduce the basis on which I can claim the federal 30% ITC? A rebate received by a homeowner in a residential context...

    Federal Taxation 2006

    Jamie Said:concepts in federal taxation 2006 question and answers?We Answered:Putting a question mark at the end of a title does not constitute a question.Tracy Said:Please explain why I have to pay Federal Taxes in 2006 for my 2005 State refund.?We Answered:A state income tax refund is not always subject to federal tax. In many cases it is but not always. Generally where a person itemizes and is in a state that levies an income tax, you will deduct 100% of the state income tax that was withheld for the year. For example lets say in 2005 $4500 was withheld...

    Federal Taxation 2007

    Gina Said:I was given a house/land as a gift in 2001. I sold this in 2007. How do I handle on my federal taxes? Thanks.?We Answered:Your gain is the difference between your cost basis and the net sales proceeds. Since it was a gift to you, your basis is generally the donor's original adjusted basis, adjusted for any Gift Taxes that they paid plus any improvements that you made. If you owned and lived in it as your principal residence for 2 of the 5 years immediately prior to the sale you may exclude some or all of the gain...

    Federal Taxation Individual Income Taxes

    Carla Said:As an independent contractor, how much of my income should I withhold for taxes?We Answered:Here is how you figure the taxes on your money. Say you get a check for $1400.00. Fica is .062% until you reach $106,800. Once you reach $106,800 you do not have to withhold Fica anymore. You still have to withhold Medicare which is .0145%. So it looks like this 1400.00 x .062 = 86.80 1400.00 x .0145= 20.30 Now the federal withholding will come from a table that can be found in the Instruction Booklet for filing form 1040,...

    Federal Taxes Estimate

    Norman Said:If my job with holds federal taxes, but not state, do i need to do anything special next tax year?We Answered:Many states, like the federal government, require the filing of quarterly estimated taxes if your withholding is insufficient. Rules vary from state to state. Check the Department of Revenue site for your state to see what the specific rules are for filing estimated taxes for your state.Lloyd Said:How much of a percentage of your annual salary do you estimate you are paying in taxes?We Answered:The average American pays 40% in taxes. When you earn your money, you pay...

    Federal Taxes Filing

    Amy Said:I'm filing my state taxes - do I just send the same form that I did for federal?We Answered:you will file the state with it's own forms. You can find them by clicking on the link below. http://www.arkansas.gov/dfa/income_tax/d… Christine EA Master Tax Advisor This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. http://www.hrblock.com/tax_professionals…Olga Said:Filing Federal and State Taxes. Husband and I claim different states?We Answered:Is your husband stationed in Florida? The military tax payer has a "State of Record." This is where...

    Federal Taxes Help

    Deborah Said:Employer did not take enough in Federal taxes - HELP - Illinois?We Answered:I misread your question when I first read it. So if you read what I wrote originally, ignor it. So you made about $17,800. You'll get the standard deduction of 5700 and 1 personal exemption of 3650. That'll leave you with a taxable income of $8,450. Tax on that is 846. Take out the 786 you've already had withheld and add in the 400 making work pay credit and you're looking at getting a $340 refund. It's not much, but...

    Federal Tax 1040

    Nina Said:Total Federal Tax Paid? Where do I find this on IRS FORM 1040?We Answered:Your total tax liability, net of all credits, is on line 63 less any amounts on lines 66a, 67, and 68. Line 72 is what was withheld from your pay, paid in as estimated taxes, the EIC and Additional Child Tax Credit. It does NOT refer to your tax liability.Gary Said:I received only half of the federal tax refund for year 2007 that was in the form 1040. What should I do ?We Answered:If the IRS adjusted your refund, you should be getting a letter or...

    Federal Tax 1040ez Form

    Don Said:I have $869 "D" listed in Box 12 on my W2. How do I use that on my Federal 1040EZ tax form?We Answered:You don't have to do anything. It's your 401k contribution, and has already been taken out of your box 1 income that you'll report on the 1040EZ line 1Ricky Said:does the 1040EZ tax form cover both federal and state taxes?We Answered:It only covers Federal taxes. Some states do not have a State tax but most do.Priscilla Said:Can I use the 1040EZ tax form for Federal and State tax refunds?We Answered:The state form for CA is the...

    Federal Tax 2004

    Claudia Said:Where do I send my 2003 & 2004 Federal & CA tax return?We Answered:Federal: IRS Fresno, CA 93888 CA: Franchise Tax Board PO Box 942840 Sacramento, CA 94240-0040 I would recomend using Zip 94240 only.Norman Said:Is the federal government's "hybrid vehicle tax credit" worth it?We Answered:Well, the US Federal Income Tax credit for Toyota/Lexus is still available. It hit the trigger point last year to begin reducing in amount depending on when you purchase your new Toyota/Lexus hybrid, but did not "run out" last year. The amount drops to zero for purchases on/after Oct. 1, 2007. The amount also depends on the hybrid...

    Federal Tax 2006 Forms

    Greg Said:i need to file 2006 federal income tax how can i find returned to file?We Answered:If you have your W2 for 2006, you don't need to go to the IRS. You can get the 2006 form 1040 online and file yourself. Be aware that the IRS will assess you a penalty and interest for filing late. You don't have to figure that amount yourself, they will bill you after you file.Doris Said:Where do I pick up 2006 Federal and State Income Tax Forms?We Answered:On line at irs.gov and your local state taxagency, or at your...

    Federal Tax 2007

    Erik Said:I had no federal tax liability for 2007 based on my income and dependent status.?We Answered:If you indeed had no tax liability whatsoever, but made over $3,000 in earned income, you would receive a $600 rebate for the return plus $300 for each qualifying child, or a total of $1,200 if both dependents are qualifying children. An example from the IRS web site: Married couple with two children, wages of $4,000, no federal income tax liability before child tax credit. Rebate is $600 Qualifying child credit is $600 TOTAL is $1,200Regina Said:I want to file my federal tax return for 2007.?We Answered:Do...

    Federal Tax Book

    Martha Said:Federal Income tax book?We Answered:You won't find one that includes both of these. More importantly, each of those topics are very complicated and deep by themselves, so I wouldn't expect to find anything "easy to read" for either of those topics. But you might want to try "International Tax in a Nutshell" for the latter.Ann Said:Book about federal U.S. Federal income tax.?We Answered:I think it might be posted in the U.S. Tax Code.... But I don't anyone has ever read that cover to cover before? As far as the author I am not sure. try the site listed below...Thelma Said:What is a Schedule...

    Federal Tax Books

    Ricardo Said:Are study courses and books tax deductable?We Answered:We have a FEDERAL tax system in Australia, so it is irrelevant which state you live in. The general answer is that you can deduct textbooks and stationary (minus $250), but not course fees. This only applies if you are doing a prescribed course of study, ie at a university/TAFE. For your deductions, make sure that you keep receipts! I believe that they start checking after $300 worth of total general deductions. The long answer: Stationery and text books are deductible under sec 8-1 of the Income Tax Assessment Act 1997, but the total...

    Federal Tax Bracket

    Juanita Said:TAX EXPERT! How you one get tax and place in a bracket?We Answered:NYS and NYC tax you on all the income, not on the amount that is left after paying other tax. You do not have less taxable income for either of these taxes. For federal tax, you have the option to deduct either (a) a standard (fixed) amount, (b) state and local income tax, or (c) state and local sales tax, but only one of these. For example, if your federal bracket was 28%, your NYS bracket was 6%, and your NYC bracket was 4%, then you would pay...

    Federal Tax Brackets

    Dale Said:what are the tax brackets in Canada for 2007?We Answered:To see the tax brackets refer to http://www.cra-arc.gc.ca/tax/individuals… The top half of the page contains the federal rates, and the lower half houses the provincial rates. Like the previous poster commented the best tax shelters are RRSPs. Other things like union dues, dependants, medical expenses and charitable donations have the potential to increase your tax credits. Also you may be eligable for Provincial tax credits.Kathleen Said:Question about Tax Brackets for Federal Tax?We Answered:I know exactly how you feel. I every year, I end up trying to find the answer for...

    Federal Tax Calculate

    Julia Said:How to calculate Federal & State tax from my paycheck?We Answered:Use the paycheck calculator: http://www.paycheckcity.com/netpaycalc/n…Patsy Said:What is the Approximate Percentage of Federal tax that should be taken out ?We Answered:Something is seriously wrong. Even if they incorrectly used the federal table for daily or miscellaneous periods, the withholding would not be that high. For a monthly payment of $900, the correct federal tax withholding (claiming single with no exemptions) should be $71.40. Since I do not know what state you are in, I cannot calculate the proper tax withholding for the state taxes. You need to contact these people...

    Federal Tax Calculation

    Ronnie Said:Why does having two jobs have a NEGATIVE impact on one's Federal Tax Refund?We Answered:Because you file ONE federal return, no matter how many jobs you have. Each job, however, only knows about the earnings on that job, so if you fill out the W-4 the same way at both jobs you will have a smaller refund. You only get ONE standard deduction and ONE personal exemption.Maurice Said:Income tax calculation is missori state?We Answered:I don't know the rules of MO nor KS but if both states require tax returns at year end you would have to file...

    Federal Tax Calculators

    Jennie Said:When using a tax calculator what all do you put in the paid federal income tax for the year?We Answered:No. Just the Federal Income Tax withholding. Social Security and Medicare withheld from your pay have no bearing on your return.Max Said:How much in federal tax do I have to pay if self employed?We Answered:It all depends on how much you made (and how many expenses you had to make the income.) Some good news, you get to deduct 1/2 of the Self-Employment taxes :) Hopefully, you were making estimated payments during the year, otherwise, you may be in for...

    Federal Tax Chart

    Oscar Said:how much tax refund from federal should I receive if I have paid 3000 dollars in federal tax this year?We Answered:Go to http://irs.gov and look at the tax chartVelma Said:Where can I find a chart showing pre-tax payroll items?We Answered:You may find this "chart" in the Regulation section of the CPA review book set. However, it's not a chart, it's a list of items that are excluded from taxable income.June Said:In addition to the federal tax, is there a State tax in Australia? How much is it ?We Answered:Income tax is federal http://www.ato.gov.au/youth/content.asp?… State taxes are for things not income -...

    Federal Tax Code

    Ron Said:What website do I find the Federal Tax code sections on?We Answered:Federal Personal Income Tax Code Sections: Federal Personal Income Tax Code Outline ... TAXES: Gross Income - non-itemized deductions (§62 and other sections) [above the line deductions] http://home.pon.net/jmt/law/ThreeL/tax/a… Federal Income Tax Code and Regulations: Selected Sections 2001-2002 Federal Income Tax Code and Regulations: Selected Sections 2001-2002 Visit Our Book Partner Link: www.yezee.com [Paperback] http://www.pagenation.com/an/1587780194.… Federal Income Tax Code and Regulations: Selected Sections 2003-2004... Federal Income Tax Code and Regulations: Selected Sections 2003-2004 Edition published by CCH Incorporated... http://allentech.net/bookstore/item_0808… Federal Income Tax Code and Regulation: Selected Sections 1999-2000... Federal Income Tax Code and...

    Federal Tax Credits

    Elmer Said:what are different types of US federal tax credits?We Answered:Personal or business credits? There are credit for both. Personal credits would be Foreign tax credit Credit for child and dependent care expenses Credit for the elderly or the disabled Education credits - Hope Credit - Lifetime Learning Credit Retirement savings contributions credit Residential energy credits Child tax credit Earned income credit Additional child tax credit Credit for federal telephone excise tax paid There are more personal credits, but these are the main ones. Business credits are: Fuel tax credit Credit for federal telephone excise tax paid Foreign tax credit Qualified electric vehicle credit General business credit Credit for prior year minimun tax Bond Credits There are more business credits...

    Federal Tax Deduction

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    Federal Tax Deductions

    Eva Said:Why is it that a federal worker can claim pre tax deductions for healthcare and a retiree cannot?We Answered:Its a perk.Maureen Said:How can you figure Connecticut state tax deductions and Federal deductions?We Answered:Try looking at your past tax returns. If you have not owned a home before, then you probably took the standard deduction on the federal, and connecticut. If you now do buy a home then you will more than likely be able to itemize, as you will now be able to include in your deductions, real estate taxes paid and mortgage interest, and mortgage points. What you...

    Federal Tax Deduction Table

    Christopher Said:what is the tax amount listed on a 2003 1040A federal tax table for $37797 filing head of house w/ 3 exempts?We Answered:You don't give quite enough info to answer you, since you don't say just WHAT the $37797 is. Are you saying taxable income, line 27, of $37,797? If that's what you're saying, then the tax is$5166. But if that's what you mean, the exemptions are already subtracted before you get to taxable income, so I'm not sure why you included that info. If you're saying that your AGI, line 21, is $37797, and you take...

    Federal Tax Electronic Filing

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    Federal Tax Estimate

    Lori Said:Estimate how much will i get on my tax return?We Answered:To accurately calculate your return, one would need to know your gross income. What state do you live in? Because you're single with no dependents (kids), you will most likely use a 1040EZ form to file a federal tax return. Your state has a similar EZ form. Very simple to do on your own. http://www.irs.gov/app/vita/globalmedia/… http://www.irs.gov/pub/irs-pdf/i1040ez.p… - tax tables on page 27 or 28 You should receive a refund of $145 from the IRS and a refund of about $371 from the State of Oregon https://secure.dor.state.or.us/piti/inde…David Said:trying to estimate...

    Federal Tax Estimated

    Alfredo Said:George owns a printing business and has an estimated annual income of $56,000. His social security tax is?We Answered:Add up all your % 12.3 + 2.7 + 18 = 33% 56000 x 33 = 18480 divide by 4 18480 / 4 = 4620 QTR Tax This would be for everything. If you need Federal only 56000 x 18 = 10080 Divide by 4 10080 / 4 = 2520 QTR TaxHeidi Said:Federal Estimated Tax Payments?We Answered:You owe the estimated tax when you make the income. In the absence of an allocation, IRS presumes you earned it equally over the entire year. You will have to...

    Federal Tax Estimator

    Barry Said:If I made $27,000 this year, how much will I get for my federal tax return?We Answered:Go to hrblock.com and scroll down to bottom and click on free tax estimator...plug in your numbers from your last paycheck stub and you will get a pretty good estimate.Virgil Said:Online Income Tax Calculators -Federal and State?We Answered:Try Paycheck City's calculator: http://www.paycheckcity.comNicholas Said:How much federal tax will i owe?We Answered:your non taxable income is $9350, leaving $6704 as taxable and the lowest rate is 10%, which would be $670(could be slightly higher) you also have Sch M. to help you ease the tax pain(a...

    Federal Tax Exemption

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    Federal Tax Exemptions

    Mathew Said:Should the dependent exemptions be removed from tax code?We Answered:Deductions for kids are just the tip of the iceberg. Better yet, let's eliminate the Earned Income Credit and the Additional Child Tax Credit. Those are the credits that pays people to have kids if they agree to never marry. Example: Susie has two kids and makes $13K a year. She will pay no taxes since her standard deduction + personal exemption + 2 dependent exemptions wipes out all income. But not only that, the federal government (in other words, we taxpayers) will pay her an...

    Federal Tax E Filing

    Brandon Said:What is the start date that the IRS will accept e-filed federal tax returns for 2009?We Answered:Check IRS website on January 16, 2009 to find out if e-filing is ready to be accepted.Allan Said:Do you send in any tax documents if you e-file your federal taxes?We Answered:no,you don't mail any documents to the irs if you e-file.when you put all your info in the computer from the w-2 it will be sent electronically to the irs computer. you can pay to file your taxes with a credit card but if you have a simple return to file you may qualify...

    Federal Tax Filing Forms

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    Federal Tax Filing On Line

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    Federal Tax Filing Status

    Bertha Said:can you file two different filing status's for state and federal?We Answered:It depends on state law. Some require you use federal filing status. That obviously wouldn't work for a same sex marriage.Maria Said:is tax rebate eligibility determined based on filing status?We Answered:NO. If you are filing separately, each spouse needs to qualify for the rebate based on his/her own earnings and taxes paid. Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350...

    Federal Tax Forms 1040

    Jacob Said:Which forms do I need to enclose when submitting my federal tax return?We Answered:The only forms you need to include with the 1040 are any that have federal withholding amounts reported on them. The mortgage interest, loan statements or capital gain/loss forms do not need to be submitted, just keep them for your records....

    Federal Tax Forms 1040ez

    Clinton Said:US Federal Tax Forms?We Answered:I'm a tax professional using professional software. Federal forms only, including income estate, excise and other tax returns, plus miscellaneous other information returns (W-2, K-1) and reporting forms that are a part of the tax return included on my software exceed 900! That's right 900!! For ONE tax year!! This is far more than you will find on IRS.gov.Carla Said:Where do I send my Federal Income Tax forms?We Answered:It depends on the state. The address for your state is listed in the instruction booklets for forms 1040, 1040A, and 1040EZ. You can pick one up...

    Federal Tax Forms 2004

    Ruth Said:I want to have my 2006 tax refund applied to my 2004 past due federal taxes, Do I need a form for this?We Answered:No form needed...the IRS WILL gladly take it! They will not issue a refund if you owe them money....

    Federal Tax Form 1040a

    Danny Said:i need to know the address where to mail my paper 2008 1040a federal tax return form that i prepared myself.?We Answered:hi there, Use this Link: http://www.irs.gov/file/content/0,,id=10… Click on your State, search for the 1040A form on your left handside ( in most states it is the second listing) the mailing address is on the right handside. For the future you can try Uncle Tax: http://www.UncleTax.com for no cost, you will be able to file all you late and current tax returns here and they will answer all questions you have. I use this...

    Federal Tax Form 1040ez

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    Federal Tax Form 2004

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    Federal Tax Form Online

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    Federal Tax Government

    Norma Said:The federal government uses tax laws to affect economic decisions.For examaple. home mortgage interest is tax?We Answered:The government thinks they are such big shots right now - they are controlling everything they can and forcing businesses and banks to do whatever they want through their mob rule tactics. As these corrupt politicians including Obama, Dodd, Frank, Pelosi, Schumer, Rangel and the list goes on - as they manipulate the financial system and their own bank accounts the hard working tax payer is beginning to coil like a snake as we feel threatened by this tyrannical government and its Fascist leader...

    Federal Tax Guide

    Nicole Said:The US Constitution gives the federal government the power to tax church services. True or false?...?We Answered:Yes, churches can be taxed Constitutionally but by following certain guide lines they may be given a tax exempt status. Federal taxes are based on a scale that is nationwide. State income taxes may vary from the national base but can't go above that base. The sales tax is based on a percentage of which the maker suggests a price and the seller sets the price and may but seldom bears the tax.Jill Said:how much is the state tax and the federal tax...

    Federal Tax Increase

    Jon Said:How much money will you get from a tax increase?We Answered:You don't "get money from a tax increase". There is no magic money tree, every tax and regulation comes right out of the pockets that already are paying for everything. Try this, disallow food stamps to be used for anything other than basic, unprocess food & encourage walking. Walking is free! These people won't use their gym memberships anyway, come on. Donna Said:Should the USA increase the Federal gasoline tax to nudge people about their vehicles?We Answered:Should give bigger tax break to incourage purchase of more effecient vehicles, furnaces....:-)Clinton Said:How much is...

    Federal Tax Information

    Terry Said:Is there a way to legally get tax information from your parents so you can apply for financial aide 4 collage?We Answered:LBR: Unfortunately, no. Tax information is protected, private information between the taxpayer and the IRS. The taxpayer is always free to divulge that information, but only the government can access that info without the taxpayer's consent. Also remember that higher education is not a "right" in this country, so your ex cannot be forced to contribute to - or even to assist your son with his college aspirations. The Department of Education considers a parent's willingness to pay for their child's...

    Federal Tax Laws

    Thelma Said:What is the best book to learn about the federal income tax laws?We Answered:Start with Pub 17. It's free from IRS, pretty readable, call or go online and they mail it to you. Get one now to start reading it, but order a new one (for 2009 tax year) in January.Clara Said:Do I have to pay federal income tax? I just saw a startling dvd called Aaron Russo's America?We Answered:"America: Freedom to Fascism" is inaccurate conspiracy theory nonsense. There is a law concerning income taxes and it is codified as Title 26 U.S.C. You can read it...

    Federal Tax Online Form

    Michael Said:Form 8379- tax estimators online ACCURATE?We Answered:if you had income,by filing the 8379 injured spouse form you will get back whatever your refund would have been if you had filed separate. no,you keep your filing status as married/joint and yes use the same info from both your incomes.on the injured spouse form there's a space for you(the injured spouse) and one for your spouse.the first space is the total of everything on you'll joint return,then in the 2nd space you would put in your income only,then in the other your spouse's. for the deduction if you'll took the standard deduction put...

    Federal Tax Payroll Calculator

    Ken Said:What is the payroll tax rate for me?We Answered:Plug in your numbers to the calculator at http://www.paycheckcity.com/ It will tell you how much you will have taken for each of the forms of tax - federal, state, soc security and medicare.Colleen Said:Ontario question: How much tax government take while on payroll?We Answered:http://www.cra-arc.gc.ca/pdoc/ go here it is a calculator to figure out what they will take from your checks as you did not let me know if you are paid weekly/biweekly etc. I know it is 1.73% for E.I and 4.95% for CPP.But there are different codes for provincial/federal tax.not too sure...

    Federal Tax Payroll Deduction

    Hugh Said:Proper categorization of payroll cost for 1120s Federal S-Corp Tax ReturnWe Answered:"Cost of Labor" under Costs of Goods Sold only relates to manufacturers. If the company is not a manufacturer, all labor costs go in payroll. If the company is a manufacturer, the labor costs directly related to the manufacture of the products goes under Costs of Labor under Cost of Goods Sold. The salaries and wages of all other personnel (Sales, Admin., etc.) go under payroll.Dan Said:Are the payroll tax and Massachusetts income tax deductible from ferderal income tax?We Answered:You can deduct your state income...

    Federal Tax Percentage

    Dana Said:What percentage of Americans have federal tax liability?We Answered:We are on the verge of bankruptcy You shouldn't raise taxes year after year, but that's what's eventually gonna have to happen to bring these deficits down. The next few generations will suffer dearly if this country is to survive. What I'm about to propose will NEVER happen, but before we tax the sh*t out of the middle class, we need to make this government a little more efficient. Have you ever gone to a federal office building and seen how many federal employees are...

    Federal Tax Policy

    Rene Said:Tax question: What is the policy on taxes and lottery numbers?We Answered:when they tell you its "not taxed," that simply means that they dont WITHHOLD taxes from it. All income is federally taxable from lotteries, gambling etc. You are to declare it as income and pay federal tax on it. "Should have" is of course not helpful at this point. Suck it up, take your hit, and learn from it.Gertrude Said:What was the purpose of tax cut? Was the tax policy designed to be a counter cyclical fiscal policy?We Answered:Yes, you are on track. This is the way fiscal...

    Federal Tax Preparation

    Ivan Said:H&R Block tax preparation fees for preparing individiual tax returns?We Answered:~$200 so "normal" returns. As a CPA, I highly suggest that you just visit the IRS website www.irs.gov and try and do it for free. Its really not as difficult as you may think. H&R Block and other CPA's charging for tax preparation are robbing you blind in my opinion for a service that you can easily do yourself.Samuel Said:What are the Federal and State Income Tax rates/slabs for the State of New Jersey?We Answered:The best advice for you is to drop into a tax preparation office with...

    Federal Tax Preparation Software

    Mathew Said:What a good FREE tax preparation software. I live in Texas so I only need federal tax prep.?We Answered:TaxAct...

    Federal Tax Question

    Ralph Said:income tax question . is 3750$ as federal income tax withheld high for earnings of 17000$?We Answered:Way too much if you mean just Fed. tax withheld. It shouldn't be more than around $2500 (15%). The amounts are on your W2's. That's what is submitted to the IRS by your employer and the figures you are to submit with your return. If you think they printed your W2 wrong, check your pay stubs for last year to compare. If the numbers are wrong, talk to your employer or contact the IRS.Ruby Said:I have a tax question. If a person works for...

    Federal Tax Questions

    Dianne Said:Why do people get so upset when someone questions the validity of a federal income tax system?We Answered:Maybe they work for the IRS or are too stupid to understand the The Fair Tax Book. That is a very good book!!Janice Said:What do I subtract if I want to calculate federal and state tax?We Answered:I’m Laura and I work for TurboTax. It sounds like you may have more than a couple of questions about your taxes. I would suggest using TurboTax to prepare your return. There are several different versions (depending on your needs) including a FREE version. TuboTax has...

    Federal Tax Rate Payroll

    Theresa Said:End of year big payroll payment, payroll isn't taking enough federal withholding?We Answered:Bonuses and other irregular payments are supposed to be withheld at the statutory rate of 25% for federal income tax. You may withhold at a higher rate at the request of the employee but not a lower rate.Scott Said:If I move out of NYC, does my federal income tax rate change? i.e get lower/higher?We Answered:When you filled out your W-4 form for the new job, how many exemptions did you claim?? That is what would affect your tax withheld. Check with your payroll department. You can...

    Federal Tax Rate Table

    Mathew Said:What is the overall income tax rate in New Jersey?We Answered:Here's the '05 New Jersey Tax Table: http://www.state.nj.us/treasury/taxation… Here's the '06 Federal Tax Table: http://www.irs.gov/formspubs/article/0,,…Patricia Said:is there an average percentage rate for federal income tax?We Answered:What the other guy (rolsenn2003) just told you is absolutely not true. The average percentage rates for federal income tax based on your income is readily available. Check out this web site on the IRS's web page: http://www.irs.gov/formspubs/article/0,,… There you'll see for the various filing statuses for whatever income range you're in, you can see (what's referred to as) your marginal tax bracket. So, you...

    Federal Tax Refund Estimate

    Jordan Said:When you submit an amended tax return (Federal) via the US Mail, how long before I see a refund check?We Answered:Amended tax returns take 12-16 weeks to process from the date IRS received the Form 1040X. After processed it take appropriate 2-3 weeks to mail the refund to you. Contact IRS at 1-800-829-1040 to find out if your Form 1040X was received and to give you an estimated date for your refund.Karl Said:about to mail my federal tax return to the IRS today. will they penalize me? when can I expect my refund?We Answered:No penalty if you are to...

    Federal Tax Refund Estimator

    Marlene Said:how much tax refund should i expect to get?We Answered:Go to the Tax Calculator at TurboTax, enter your data and get a good estimate of your taxes and refund. http://turbotax.intuit.com/tax-software/…Sandra Said:Tax Refund Estimator HELP?We Answered:You will get all of the Federal Withholding back. Since your adjusted gross income was $54,000 or less in 2007, you can use IRS Free File to prepare and e-file your Federal taxes free online.Chad Said:tax refund?We Answered:Go to the H&R Block tax estimator, fill out your info, and get a pretty good estimate of your taxes and refund. http://www.hrblock.com/taxes/tax_calcula…Joshua Said:When I do the tax estimator thing on...

    Federal Tax Refund Information

    Bobby Said:If you make 40K how much federal tax refund do you get back?We Answered:What is your filing status? Are you single, married filing jointly, married filing separately, widowed {and/or within certain filing frame/time}, do you have dependents, could you be considered a dependent of someone else, what age are you, are you disabled, how much taxes do you have withheld, do you work hourly, salary, any additional benefits {etcetera}, do you work in an exempt type profession or have certain benefits such as housing included in your pay, do you pay for health insurance {and if so is it...

    Federal Tax Regulations

    Troy Said:Do New York Federal Regulations say that Domestic Partner medical premiums must be paid pre or after-tax?We Answered:Domestic partner premiums are after tax deductions. This is spelled out in federal income tax law.Andrew Said:Need a website for federal regulations on payroll?We Answered:go to IRS.gov and look up the Circular E which deals with payroll taxes. That should be able to answer your questions about if there is a federal regulation about it.Max Said:Help with FL business and tax regulations?We Answered:Dear A: Check with state of FL on any state restrictions. For your federal taxes you will be...

    Federal Tax Research

    Colleen Said:Federal tax dollars being spent on research studies to determine which color Easter egg is most popular. How?We Answered:Constitutionally, NO Federally funded research is valid. Article 1, Section 8 of the US Constitution lists the powers granted to Congress. Funding research is nowhere on the list. The closest I can find is the power "To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries". This authorizes Copyrights and Patents. FUNDING is never authorized. Question: If a study is...

    Federal Tax Returns Filing

    Calvin Said:What to do about not filing federal tax returns?We Answered:I am going through something similar myself. The first thing he should do is check his credit report to see if there are any liens against him. If not then it is probably pretty easy to get it cleared up. I failed to file for 2002 through 2006 and lived for a long time in fear of going to jail. The first and most important thing to know is that if he didn't file but was due a return, then the IRS really won't care and he should just file ASAP. This was the...

    Federal Tax Return 2004

    Darlene Said:What is the Maximum time that a person can extend their tax return, I heard up to 3 years.?We Answered:When you say account, I am assuming you mean your accountant? I am a CPA/Tax Preparer so I am sure of my answer. For your 2004 tax return, the date it would have been due originally would have been April 15, 2005. If your accountant filed an extension for you, I'm assuming that you mean a federal extension, that would have extended the time by 4 months, it is also possible that he could have filed for an additional extension...

    Federal Tax Return Filing

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    Federal Tax Return Information

    Roger Said:need copy of 2008 Federal Tax Return?We Answered:Most needs for tax return information can be met with a computer print-out of your return information called a "transcript". A transcript may be an acceptable substitute for an exact copy of a return by the United States Citizenship and Immigration Services and lending agencies for student loans and mortgages. A "tax return transcript" will show most line items contained on the return as it was originally filed. If you need a statement of your tax account which shows changes that you or the IRS made after the original return was filed,...

    Federal Tax Revenue

    Willard Said:Economics-What is the largest component of federal revenue?We Answered:From the 2007 federal revenue report: Individual income taxes: $1.163 trillion Corporate income taxes: $370 billion social security taxes: $824 billion unemployment taxes: $41 billion other payroll tax sources: $4 billion federal exise taxes: $65 billion federal estate taxes: $26 billion federal customs charges: $26 billion other federal revenues: $47 billion The "other" categories include sources that are too small to report seperately and include things like fees, tax penalties, interest on late taxes, returns on investments held in fiduciary funds, etc.Derrick Said:How much will the Federal Government raise in Revenue if it...

    Federal Tax Rules

    Lawrence Said:Federal income tax question?We Answered:There are specific IRS rules on what type of job you can pay a person on a 1099 for, and it would be unusual for a 17 year old to have that type of job rather than one as an employee where you'd take out taxes and give him a W-2, not a1099. With a 1099 he'll have to file a federal tax return and pay tax if it's $400 or over. He wouldn't owe income tax if his income is under $5350, but will owe self-employment tax (for social security and medicare) starting at...

    Federal Tax Sales

    Elizabeth Said:National sales tax instead of federal income tax?We Answered:National Sales Tax . .. no question. Right now, those who make the least are paying the most tax. Those who make big bucks have all the loopholes and tax shelters. And a lot who are making big $$ selling drugs and other illegal activities aren't paying any taxes at all, but are purchasing big ticket items. If we have a National Sales Tax, you will be paying on what you buy rather than what you make. And more people will be paying so I believe we would...

    Federal Tax Schedule

    Roberto Said:What formula would apply this federal tax schedule in excel?We Answered:Let's say your tax schedule is at A2:D5 (with an additional row for <$102 taxable income): _|___A_______ B________C __________D___ 2|___ 0______ 102_______0 ___________0% 3|__102_____ 389_______0 ___________10% 4|__389____ 1,289____28.70 __________15% 5|_1,289____ 2,964___163.70 __________25% And let's say your first taxable amount is at A8. Then you would have this formula to compute the withholding: =VLOOKUP(A8,$A$2:$D$5,3) + VLOOKUP(A8,$A$2:$D$5,4) * (A8 - VLOOKUP(A8,$A$2:$D$5,1)) It looks up the minimum withholding in column C, and then applies the proper rate from column D to the excess. If you need more info, add more detail or e-mail. Cheers. .Naomi Said:Question about Schedule M-1 for federal 1120s...

    Federal Tax Schedules

    Dora Said:What are "schedules" with tax retruns?We Answered:Schedules are attachments to a tax return for reporting different tax items. A few examples: Schedule A -- Itemized Deductions. Schedule B -- Dividends and interest Schedule C -- Profit or Loss from Business Schedule D -- Capital Gains Schedule E -- Supplemental Income & Loss A tax return isn't complete unless it includes all forms and schedules.Everett Said:Is the sales tax I paid on a vehicle purchase in Texas deductable from my federal income taxes?We Answered:Yes, on your Schedule A, which means you would need to itemize to receive the deduction. If you don't itemize, your standard...

    Federal Tax Service

    Darrell Said:How long dose it take for Turbo Tax to send state & federal money to my bank after using there E-File service?We Answered:Turbo Tax doesn't send the money to your bank. Your state government and the IRS send the money directly. If it's the federal refund you're still waiting for, you can go to www.irs.gov and click on "Where's My Refund" to get an idea of when your deposit may show up.Sean Said:What states do not tax federal retirement income?We Answered:Of course, any state that does not have an income tax is not going to tax your pension. In...

    Federal Tax Services

    Ian Said:What is the tax rate for phone services in USA?We Answered:I pay: Federal Excise Tax Local communications services tax State gross receipts tax Federal Universal Service Fee Telecommunications Relay Service County 911 Funding Fee Federal Universal Service FeeHector Said:If everyone decided not to pay any federal income tax, what are 5 services that we would no longer have?We Answered:1. The nation in your lifetime has never operated on a balanced budget. If folks stopped voluntarily paying, the government would enhance already existing methods of confiscation. Any reduction in services would be decided by Congress and the President...not by an accountant or anyone in...

    Federal Tax Software

    David Said:Can I file my state tax return w/ different software than my fed return?We Answered:Yes. You don't have to use software at all. Why even pay $15.00? I don't pay a dime to fill out or file my taxes, for Federal or State. There are dozens of sites with online forms and PDF files that you can fill out for free.Lori Said:Pay to do taxes with turbo tax software?We Answered:The catch for those software company's when they offer to let you file your federal tax either for free or with little fee, that you must...

    Federal Tax Standard Deduction

    Jared Said:is there a standard deduction for charitable gifts on federal income tax?We Answered:If you take the standard deduction you do not get to take an additional deduction for charitable gifts. However, there is an 'unofficial' standard amount to deduct if you do itemize on a schedule A. Anything over $500 dollars requires a disclosure of gifs on a form 8283. Most people just file $500 or $499, so they do not have to fill out this additional form. This is, of course, assuming you actually made the gift.Delores Said:Tax deduction (itemized or standard) rules in Arizona?We Answered:State returns are...

    Federal Tax Table 1040ez

    Philip Said:I have a question regarding the income tax.?We Answered:Based on the information given...NO! For accuracy, go to the IRS website and look at there Publication 17 - Your Federal Income Tax. The part relevant to your question is in the "Do I Have To File a Return?" section. Look for the following: Table 1-1.2008 Filing Requirements for Most Taxpayers Table 1-2 2008 Filing Requirements for Dependents Table 1-3 Other Situations When You Must File a 2008 Return The Publication is available in PDF or HTML Only people that are eligible for tax credits file their tax return to receive money from the gov't (no income)Daisy Said:If I am...

    Federal Tax Withholding Chart

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    Federal Withholding Tax Chart

    Raymond Said:calculating correct withholding tax?We Answered:Go to www.irs.gov and search for Publication 15. Publication 15 will give you instructions on how to calculate withholding. The charts are at the end of the publication.Donna Said:i,m looking for a tax chart?We Answered:Really ambiguous question. You may be talking about income tax withholding, sales tax, property tax, etc. Furthermore, it could relate to federal or state charts. Feel free to ask the question again, that way somebody could assist you with your needs.Leonard Said:Why is my federal withholding so low?We Answered:Unless you put something wrong on your W-4 or they...

    Federal Withholding Tax Table

    Chester Said:What should our state and federal tax withholding be when married with one child?We Answered:if your married filing jointly. when you file your taxes you will claim 3. how much tax you have taken out of your paychecks depends on how each of you fills out your W 4 forms during the year. if you file jointly at the end of the year your salaries will be added together and that will be your gross income. so go on the irs website and look at the income tables. if you make 57,000 a year look across the table and see how much tax...

    File Federal Income Tax Return

    Gladys Said:What statute written by U.S. Congress requires Americans to file an income tax return?We Answered:Title 26 of the U.S. Code is the codification of all federal tax laws. Section 6011 specifies the requirement of a return. http://www.law.cornell.edu/uscode/26/usc… The word "CONFESSION" leads me to the conclusion that they think that a return is a violation of the fifth amendment right against self-incrimination. Tax protesters try and use the Constitution, but they haven't even read it. Here is the portion of the fifth amendment that relates to self-incrimination. "...nor shall be compelled in any CRIMINAL case to be a witness against...

    File Federal Tax Online

    Rafael Said:Can I file US federal and state tax returns separately?We Answered:If you're talking about e-filing, some states require you to file your state and federal returns together. If you're filing paper returns they are always filed separately, but many states require a copy of your federal return to be filed with your state return. Don't try to save a few $$$ by using 2 preparers! That's false economy. If you walk in to preparer B with a completed federal return and ask them to prepare your state return, their cost will be higher than it is for...

    File Federal Tax Return

    Nora Said:How many years back can I file my federal tax return?We Answered:You need to file all missing returns. Though for any year prior to 2003 any refund you would have coming is gone. You have until April 15th 2007 to file the 2003 return in order to get the refund for that Tax year. Get that one in as soon as possible. If you need your income information you can call the IRS and request that transcripts of your W2 information be sent to you for the missing years. If you have access to a fax machine they can fax...

    Free Electronic Federal Tax Filing

    Bessie Said:Where can I file state and federal taxes for free?We Answered:The charge was a fee for electronic filing of your state return. Try using a site that lets you print out your return and file by paper.Victor Said:Free Tax Filling?We Answered:The VITA Program offers free tax help to low- to moderate-income (generally, $39,000 and below) people who cannot prepare their own tax returns. Certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient...

    Free Federal Electronic Tax Filing

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    Free Federal Income Tax Filing

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    Free Federal Income Tax Return

    Raymond Said:what would my federal income tax return be?We Answered:With your given income you will qualify for free filing support including free e-file. Go that route, you will get to know at end of the process what you owe or are due for. "Free File allows taxpayers with an Adjusted Gross Income (AGI) of $52,000 or less in 2006 to e-file their federal tax returns for free. That means 70 percent of all taxpayers – 95 million taxpayers – can take advantage of the Free File program." You can find full info on how to e-file for free on IRS site...

    Free Federal Online Tax Filing

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    Free Federal Tax Calculator

    Tammy Said:Why do my husband and I owe Federal tax this year?We Answered:Dear Chrissy: Making Work Pay is the reason (probably). Employers were required to with hold less out of everyone's paycheck. It was to stimulate the economy. That could have been $1200 on a salary of $20,000. Make sure you are completing Sch M this year to gain some of that money back. Also you can try a free calculator at HRBlock.com to double check your numbers. This advice was prepared based on our understanding of the tax law in effect at the time it was written as it...

    Free Federal Tax Electronic Filing

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    Free Federal Tax Form

    Nathan Said:is there any way to get past copies of my federal tax returns free?We Answered:Actual copies from the IRS cost $39 each, but you can get a transcript for free - it's the same info, and most places you'd need them for would accept them, it's just that they are computer printed so in a different formal. File form 4506-T Rosa Said:Where do I send tax form to Federal? State KS?We Answered:To mail your federal return (if not enclosing a check or money order): Department of the Treasury Internal Revenue Service Center Fresno, CA 93888-0015 To mail your state return: Kansas Department of Revenue 915...

    Free Federal Tax Online

    Bruce Said:Is my Federal Tax ID/ EIN number the same tax number that I need to purchase goods for my business tax-free?We Answered:You need your Sales and Use Tax. Go to www.sunbiz.org and apply online. It's free. I have my wholesale license and pay no taxes at all.Sonia Said:Would anyone recommend using the Turbo Tax software or the online tax programs that are free ?We Answered:I have used the Turbo Tax online for free to do my sons taxes for several years. You can e file federal for free, and in a lot of states if you meet income limits...

    Free Federal Tax Online Filing

    Billie Said:Free online tax filing fo state taxes? (NJ)?We Answered:https://njwebfile1.state.nj.us/nji/Welco… It's free!Gerald Said:Free tax filing online with TurboTax.... Has anyone used it?We Answered:I have been using it for about 5 years because H&R charged me out the wazoo. Turbo tax is nice because it will tell you what you owe or will receive before you pay. If memory serves from last year they do let you efile your federal for free, but there is like a $30 service fee and you have to pay for state as well. However you slice it it still costs less then any other place...

    Free Federal Tax Preparation

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    Free Federal Tax Program

    Carrie Said:What's the cheapest and best tax program for federal and state?We Answered:Well first of all depending on income you can use several programs free just by visiting the IRS website. I was very poor last year so I was able to use turbotax's free version, but there are requirements you need to meet. Also they don't always include state. This is just for federal. As for state, I know for Illinois I could file free on the illinois revenue website. Look around and you can probably do your taxes for free.Kelly Said:what is the best online...

    Free Federal Tax Software

    Marshall Said:can I file my taxes with the H&R tax cut software? (it comes with a free federal & state e-file) is it legit?We Answered:Its safe.. But, did you make less than $28,500? Well if you did go to http://turbotax.intuit.com/taxfreedom/ Whats this? Turbo Tax software you buy in the store for 20 bucks, free at their website because i didnt make alot? Wow. And they even E - file it for ya. Doing state taxes with it will cost you 9.95Everett Said:free software way to e-file for federal extension for taxes?We Answered:Go to irs.gov and down load form 4868. You can fill it out on...

    Fundamentals Of Federal Taxation

    Tracy Said:Isn't the Answer to our problems is to eliminate the Federal Reserve?We Answered:Yes. The Federal Reserve should be eliminated. However, while I favor gold backing, I have recently moderated my position regarding 100% reserve banking [1]. The fundamental problem with the Federal Reserve is that it monetizes government debt. That debt represents future promises to steal wealth from productive people (via taxation). It will only hold its value if the government follows through in the future by taxing. Backing money by promises to tax is quite a different thing than backing money creation by posting...

    How To Calculate Federal Tax

    Chris Said:How can I calculate the savings (tax break) from buying real estate?We Answered:I don't know what you mean by savings. The mortgage interest and property taxes are deducted on schedule A as you already know. That helps to reduce the amount of tax you owe at the end of the year. (if you would have owed any). I guess what you are asking is how much each paycheck will you save in federal income tax?? To figure that out you have to know how much interest per year your mortgage will be and how much property...

    Hybrid Federal Tax Credit

    George Said:Will the federal tax credit for the Toyota Camry hybrid extend into the 2007 tax year?We Answered:Read all about it at the website below. Here is a little bit The new tax credit sets a limit of 60,000 hybrids per carmaker. Toyota hit the 60,000 mark in June, 2006. (Honda and Ford are unlikely to reach 60,000 hybrids in 2006.) Buyers have until Sept. 30 to purchase one of the five gasoline-electric hybrid models sold by Toyota and Lexus to qualify for 100 percent of the credit. On Oct. 1, the credit amount listed above will be reduced by...

    Individual Federal Income Tax Return

    Fernando Said:what will happen if you dont file a income tax return?We Answered:Re: what[sic] will happen if you dont[sic] file a[sic] income tax return? It depends upon the circumstances. Basically, the IRS will complete a return for you as single with no dependents and only the standard deduction. If you would be due a refund under those conditions, the IRS will not contact you and will not send you the refund until you file. BTW, you lose all rights to any refund after three years. If the IRS determines that you owe money, they will assess you...

    Irs Federal Tax Table

    Erica Said:H.R. 25 Fair Tax Act of 2009 - Abolish the IRS?We Answered:You don't need an ID card when you pay state sales tax, why would you need one for a federal sales tax? You pay when you buy something new, doesn't matter who you are. We would gain revenue from those that currently get their income on the black market or illegals that get paid under the table. I am very much in favor of the Fair Tax, we spend billions every year trying to decipher the IRS tax codes, it is entirely too cumbersome. Check out...

    Late Federal Tax Filing

    Kenneth Said:8 months into chapter 13 bankruptcy, is it too late to add federal tax liability?We Answered:I think so - talk with your attorney and see if they will reopen the case. Or, get in touch with the IRS, determine if the $2k is an accurate number, and ask them for a payment plan on this. There is a form you can download from the IRS's website that allows you to request a pyament plan.Carlos Said:I am filing my 2008 state tax refund now (late), will i get a refund?We Answered:MA follows the Federal rule. You have...

    Llc Federal Tax

    Phyllis Said:Do I need a new Fed Tax-ID # to form an LLC in a new state using the same name as I did in my old state?We Answered:A federal tax ID and a state ID are two separate registrations. You do not need a new Federal Tax ID also known as an EIN (employee identification number, or a TIN (taxpayer Identification number) you only need to register for a state tax ID, in your new state. Here is a link for federal ID information. http://www.irs.gov./ For state ID information, visit your new state's Government home page.Sam Said:LLC -Federal Tax Help?We...

    On Line Federal Tax Filing

    Caroline Said:On 2007 tax returns you can claim long distance federal fees.How do u find out how much you get back?We Answered:Actually, it's the 2006 return, the one you file in 2007. You have a choice of deducting a flat amount, or totalling up the federal excise tax paid from March 2003 thru July 2006. If you take the flat amount, it's $30 for a one-person household, $40 for two, $50 for three, and $60 for four or more. There's a line on each version of the 1040 form, in the payments section, to claim it. If you...

    Pay Federal Tax

    Victoria Said:Do I pay federal income tax on my zero bonds the year I cash them in?We Answered:Zero coupon bonds are considered to be OID (original issue discount) bonds. Except for short-term securities, you include OID interest in your income as it accrues over the term of the bond even if you don't actually receive any interest payments. In other words, you should have been paying taxes each year since you bought the bonds unless you bought them this year. You should receive a Form 1099-OID showing the taxable amount. If the face value of the bonds is $12,000, you don't...

    Pay Federal Taxes Online

    Delores Said:What taxes do you pay when your business is strictly online?We Answered:An online business pays the same taxes as a "brick and mortar" business. Depending on your business organization. If you have employees, you will pay employment taxes 941, and unemployment tax 940 and state equivalent. If you have a C-Corp, they you will pay corporate taxes (or at least file a corporate return). For most LLC, and self-employment, you will pay self employment tax on Sch-C and Sch-SE. Income you receive you pay income tax on it, state and federal. And, sales tax for your resident state if any of your sales are...

    Pay Federal Tax Online

    Irma Said:Pay Fed tax? IRS? I own online business and LLC in Delaware but am a non-US alien.?We Answered:The answer is yes, generally under sections 1441 and/or 1446 of the U.S. Internal Revenue Code. First, I am assuming that your LLC would be either a partnership or disregarded entity for purposes of US tax law, and not a corporation. It would be a disregarded entity if you are the sole owner of the LLC. How can you be legally bound to pay federal tax? The payor of the income--which might be you, your LLC or even your US...

    Standard Federal Income Tax Deduction

    Sergio Said:on my federal income tax return do i add my mortgage interest to my standard deduction?We Answered:No. Mortgage interest is reported on Schedule A. So are property taxes, state income taxes, certain other taxes (must qualify under the rules), charitable donations, other miscellaneous expenses (see rules) that exceed a percentage of your income. These, totaled, is your itemized deduction. You take the larger of the two, standard or itemized. Not both.Heather Said:How much is federal income tax for a self employed freelance writer?We Answered:If your net after any allowable expenses is a little under $30K and you are...

    West's Federal Taxation

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