Why do I enjoy to claim my state excise settlement as income?
As far as I know, state tax is not a deductible on my federal return, so the feds already tax me.How can they justify my state rates refund from 2006 as income for 2007?
Isn't that double dipping?
I can`t stand the IRS...
Answers: Did you itemize on your return last year and reduce by state income tax? If so, and you consequently got a state repayment, you over-deducted, so would have to claim the discount as income. If you didn't itemize, or if you itemized but deducted sale tax instead to some extent than state income tax, later you do NOT have to claim it even if you get a 1099G from the state for it - that would be one of the very few 1099's that you could seize and not have to claim.
Did you database a 1040A or 1040EZ in 2006?
If yes, it's not income.
If you file a 1040, did you take the standard presumption?
If yes, it's not income.
If you itemized, did you use the sales import tax deduction?
If yes, it's not income.
If you used the state income due deduction, did you rate less surrounded by taxes because of it?
If yes, it's income because you got a excise benefit by claiming the full amount of state income taxes paid, a bit than the actual amount owed. If you fail to report the compensation in *this* situation, it would be *YOU* who be double dipping.
Taxpreparer error?
I just have my taxes done last week and notice recently that my taxpreparer down me as having 1 exemption instead of 0. I know I should've looked at it before. :-( Does this affect my tax return?Answers: The one exemption is you. Do you not support yourself? Instead of asking us why don't you bid your tax preparer. We can single give you standard answers and some of the people on the board are not tariff experts. I assume your tax preparer can administer you an answer specific to you and he is a professional tax expert.
You can claim 1 exemption for yourself unless you are claimed by someone else.
If you are claimed by someone else, progress back to the preparer and enjoy him prepare an amended return. Otherwise the IRS computers will catch the error and you will hold to pay the difference plus a cost.
Unless you are a dependent of someone, one exemption is correct. If you are a dependent, like of your parents, after it would be incorrect and you'd have to amend your return to tuning it, and yes it would affect your refund.
If you claim nought allowances on your W-4 that only controls what is withheld. When you if truth be told file your return, you obtain however many exemptions you are entitled to.
Can I claim my parents on my taxes?
My mom works full time and made $45k last year and I made over $77k, she lives within my house and I pay adjectives the bills and pretty much support her. Also my aunt lives with me and made one and the same as my mom but I support her as well because they earnings to support their mom and family contained by a different country.so can I claim them (mom and aunt) on my taxes for this year?Answers: You have to be kid! One of the rules for you to be able to claim them be that their gross income can't be over $3400. So no, they don't come anywhere close for you to be allowed to claim them.
LOL, nice try - but the IRS says that YOU enjoy to provide MORE than half their support! Besides, next to paychecks like that, I'd dream up they're filing their OWN taxes, no?