Will any on-line tax service due an amended return for 2005?
Answers: You would have to buy the software, download and install it on your PC.
Then you would have to reenter your tax return the way you originally did it, make the change and print out the 1040X to mail it.
Too much trouble for most people.
I believe amended returns (federal and state) must be mailed in.
Does anyone know how that tax rebate congress just passed works concerning people on social security?
Answers: On Feb. 7, both the Senate and House of Representatives passed H.R. 5140, the "Economic Stimulus Act of 2008" (Stimulus Act). The measure is thus cleared for the President's signature. Details on the Stimulus Act will be available on tomorrow's Checkpoint© Federal Tax Updates Newspage.
New Rebate. An eligible individual will receive a basic rebate equal to the greater of: (1) his net income tax liability up to a maximum of $600 ($1,200 for a joint return); or (2) $300 ($600 for a joint return) if either (a) the taxpayer's qualifying income is at least $3,000; or (b) his net income tax liability is at least $1 and gross income is greater than the sum of the applicable basic standard deduction amount and one personal exemption (two personal exemptions for a joint return). Qualifying income is earned income generally, veterans' disability payments (including payments to survivors of disabled veterans), and social security benefits. There will be an additional $300 per-child credit amount. The amount of the rebate (both the basic and the child's amount) phases out at a rate of 5% of adjusted gross income (AGI) above $75,000 ($150,000 for joint returns). The rebate won't be available if an individual's tax return does not include valid identification numbers (Social Security Numbers issued by the Social Security Administration).
Social security will be included as qualfying income in calculating the rebate.
Tax filers who do not owe income taxes because of various credits and deductions but have at least $3,000 in income - which can include Social Security and disability payments - will get $300 rebates per person or $600 per couple.
Child Care Tax Credit??
My girls went to an actual daylight care and I do qualify for the credit, my cross-question is am I suppose to get a form from the daycare stating how much I salaried and their ein number? And if I don't get a form, what do I do?Answers: You call for the following:
The name of the Daycare
The address
Their Tax ID Number
Amount Paid for Childcare during the year
Some daycare operator give you a statement for free and some charge for one (mine charges $25). You put this info on Form 2441 and you gain a partial credit of the amount paid to pass to your 1040.
Give the daycare a form W-10.
If you still don't get the info, make a payment a note to the form 2441 that you couldn't catch the info you needed. You still the name and address.
You don't really call for a statement showing what you paid if you compensated by check and have your own chronicles.