Filing Status W4

Question: If I’m married can I still choose to file as SINGLE status on my W4?

The reason I’m asking is because I’m making about $30K more this year than last and I don’t have any big ticket tax deductions like a house or children. I think when you file as single more taxes are taken out, but I’m not sure if I can legally do that because I’m actually married, or does it matter?

Answer: For your W4, yes you can mark the Yes, I am married, but withhold at the higher single rate option. Then your employer will withhold more taxes, so you stand less of a chance of owing the government when you file your federal. Perfectly legal, it is not fraud!

Basic Explanation of W-4 tax Form : What is the Purpose of a W-4 Tax Form?


Tax Refund Anticipation Loan Online

Question: How soon can I file my 2009 taxes?

I work as an independent contractor. I worked as one last year too. I efiled last year myself, and waited the 8 or 10 days to get my refund by direct deposit. This year, I could really use the money as early as possible and I’m even willing to pay the ridiculous fees for a refund anticipation loan. I would file right this second if I could find out more, but I cant find anything about 2009 taxes yet.
I dont need w2s because I am self-employed and file a schedule c on the 1040 form. But I will go to H and R block or something if I really need to to get a RAL. If not, it would be better to do it myself if there is some outfit who will give you a RAL after filing online.
Any info from anyone would be great. How soon can I file???
I know I will be eligible for a refund because I will have the EIC for my 3 year old and only made about 8,000…Its a long story…Anyway, I already know all about the self-employment tax because i paid it last year.

Answer: IRS Free E file will be available Jan 15 2010. If you can wait that long, that is your best option. The earlier you file , the faster you get your refund (if you direct deposit). Also, in my state (Indiana), you can file for free electronically whether or not you have already filed your federal return or not. You just need to know your AGI (Adjusted Gross Income). Any number of 2009 Tax estimators/calculators can tell you that. HR Block has a simple one. If that option is available to you (Check your states’ treasury website), it may hold you over til you can get your federal return filed.

Good Luck

Online Income Tax Preparation – Tax Tip #2 from RapidTax.com


Tax Refund At The Airport

Tax Refund At The Airport

Question: I visited Chicago, made some shopping and was told I could make filing online for the sales tax. Where online?

As a non-US resident, I am expecting to get a refund of the sales tax. In Germany, for example, one is expected to file for refund at the airport, etc.

http://www.zoll.de/english_version/a0_passenger_traffic/c0_holidays_germany/a0_tax_free_shopping/index.html

Does anyone know where this filing could be made for the state of Illinois.

Answer: The US doesn’t have a VAT. Sales tax isn’t refundable. If someone told you it is, sorry but they were lying to you.

Delta gives tax refund


Tax Refunds For Students

Tax Refunds For Students

Question: student loans and tax refunds.?

if i made agreements to pay my student loan next year, and i filed for my Tax Refund this year will they take my taxes from this year to pay the student loan?

Answer: If you have federal loans in default, then your federal refund may be seized and applied to the loans. If you have qualified for a deferral or forbearance, then your refund will not be seized.

How 2008 tax rebates will affect students


Tax Filing Deadline Extension 2009

Tax Filing Deadline Extension 2009

Question: How can I file two taxes?

For 2009 I miss the deadline of my extension to file my federal. This year I want to file both my 2009 and 2010 but I don’t know if there is a certain program I’m suppose to do that on. I’m sure turbo tax won’t let me file for 2009 & 2010. I was thinking just bring it to H&R Block or something but I want to know how if I can do it myself first to save me some time. Any help?

Answer: Do the years separately. You’ll have to mail 2009 – it’s too late to efile. 2009 must be on 2009 forms, not 2010 forms.

EXTENDED! First Time Home Buyers Tax Credit by Switch Video