Tax evasion? what are the consequences?
say if I know someone who hasn't compensated taxes for 3 years. what can happen to them? does this neccasarilly niggardly jail for them?Answers: If they hold a refund coming for respectively of those years, or if they didn't make plenty to have to record, then zilch will happen. If they owe for any of the years, they'll be charged interest and penalty in postscript to the amount of tax they originally owed.
Only contained by VERY rare circumstances would it suggest jail time.
Well, It would probably depend on the amount owed the elected representatives. It's best to call the IRS and try to work out a pocket money schedule.
Tax Rebates 2008 qualification?
Hi, I'm 19 years old. I live on my own. Last year I allowed my mother to claim me as a dependent. This year I will be file my own taxes. Will I qualify for the rebate even though this is the first year I have file my my taxes?Answers: The final vote on the tax rebate bill is on Feb. 15 If it pass then they will be going past its sell-by date of 2007 taxes. So as long as this year you can't be claimed as a dependent you will get the rebate. It will also depend on how much you made this year. I construe to get it you must hold made at least $3000, it might be more. Also even though you turned 19 if you are still living at home, a college student, and your parents contribute 50% or more of your support later legally they can still claim you.
certainly, but make sure your mom isn't file you as a dependent
Tax Questions?
Me and my fiance had a child contained by March, 07.She and I lived together all year next to the baby.
She held one available job and made 3450 gross and claimed 0
I know that she made too much for me to claim her as a dependent.
Her withholdings were as follows:
Fed-294.02
Social-213.90
Medicare-50.03
I worked for 2 different companies within 2007 and was also a full time student from Jan, 07-May,07
I made a total of 14,935 between the 2 companies and claimed 1 at both job.
My withholdings are as follows
Fed-1188.36
Soc-926.05
Medicare-216.58
Also I have form 1098-t from my college which states:
Payments received for qualified tuition and related expenses:
5870.00
And I also hold form 1099 from a CD that Me and my fiance held next to an Interest income of 30.30
My questions are:
Am I or my fiance eligible for EIC of $2850 for have one child?
Should I file Head of Household and consent to her claim the child?
Does it matter that neither of us changed our address when we moved in together?
,thx
Answers: If you claim the little one, you'd be eligible for $2853 for EIC. If she claimed the baby instead, she'd attain a much lower EIC.
You can only database as head of household if you claim the kid, not if she does instead.
Changing your addresses doesn't really business, but it would be a good conception to do so.
You should claim the baby and profile as head of household. Her income is low plenty she doesn't have to folder, but if she had anything withheld for federal income levy, she should file to acquire it refunded. Her file status will be single.
Assuming you've no trouble getting your w2s, I don't see a problem with not varying your address.
From the information you've provided, it would be best for you to file as come first of household and claim the child. You would be allowed to take the earn income credit, and your credit would be much higher than your fiance's.