I am in the middle or a bankrupcy and was wondering if my creditors can take my income tax refund?
Answers: No,you are protected the second you file bankruptcy. Unless its the irs collecting then it may be a different story.
It depends if your refund is an exempt asset or part of your estate. Your attorney--and you need one--should be able to tell you.
Is here going to be any levy rebate contained by budget 2008?
Last year's budget did not go down in good health with the salaried class. What are the probability that we'll see some tax rebate this year?Answers: Lets expect for the increase contained by taxable limit. Rebate sec.88 have been completely removed from they F.Y.2007-08
no kismet at all of taxes person reduced. the only consideration shown by the FM could be raise of slabs. but dont expect the rates to be changed. this is My opinion
Who should claim a child? i made about 10,000 and he made about 25000...just trying to get the most back.?
Answers: I hope you didn't file yet! Listen - YOU should claim the child. I'm unmarried with a 16-month-old. I make about 30000 and my boyfriend makes about 75000. He would get nothing back if he claimed our kid. I got nearly $5000 last year. It just makes sense when you think about it. I make less and am therefore eligible for a bigger "child tax break." Ask you accountant, if you have one. They should be happy to explain. If you're doing your own taxes, I also suggest the H & R Block Tax calculator. Put in some quick info either way, and you'll see who will get more back.
Rule of thumb, he should claim the child since he had the higher AGI.
Unofficially, try your returns in all valid combinations and see what the combined refunds look like.
If you both claim the same child the IRS will look to see who had custody and if you all live together, will award the child based on highest AGI.
depends on if you are married. I am assuming you are not. the higher wager earner woul get the most benefit and money back. it is up to you. is he going to give you half of that return/? also depends on who the child lives with. if you both live together then legally he can claim the child. if you live separately, and the child lies with you then he can olny claim the child if you have given him written permission usually in a stipulation witht he court. If he takes the deduction adn does not give you half, either file your later (get and extension) or file and amdended return, I believe it is a 1040x