How To File Taxes After Extension
Question: When will I be audited because my child’s father claimed our daughter after I did?
I filed my taxes in February and, as per our agreement, I claimed my daughter on my taxes. Well, her father got an extension and filed in Oct. But he claimed her as well. He has his own business and I had earned income (I worked for someone not myself). Now I would like to know how long will it be before I am notified that I’m being audited. According to the new “rules” only one person is allowed to claim her and if they notice the same social being repeated, it flags something in the system. How is this done and how long does it take?
Answer: You won’t be audited, they will just send each of you a request for proof of eligibility. Since you have an agreement (in writing, I hope?) that says you get to claim her, submitting that will settle the issue. He may face fines for falsely claiming her, or they may just accept it as a mistake.
What to Do After You Hire a New Employee
Taxable Income Tax Table
Question: HELP! Hubert is single and lives in San Francisco. He earned $50,000 in 2004. The table below shows the….?
IRS tax rates for a single taxpayer in 2004.
The table below shows the IRS tax rates for a single taxpayer in 2004.
On Table Income………….. The Tax Rate Is……….
Up to $7,150 10%
From $7,150 to $29,050 15%
From $29,050 to $70,350 25%
From $70,350 to $146,750 28%
From $146,750 to $319,100 33%
Over $319,100 35%A single person with Taxable Income of $50,000 owed _____________in taxes in 2004.
The average tax rate for a single person with $50,000 in taxable income is ________
Answer: 12500
25%
How to Complete a 1040A Tax Form : 1040A Tax Payment Tips
Tax Refund Processing Time
Question: How long does it take to get your Tax Refund back after getting a reference code 1481?
The IRS received the return on 2/17 and I checked the “where’s my refund” site and it said I should receive my refund by 3/1. Checked the site again on 2/24 and it said I should receive my refund by 3/8. Now I just checked again today and I received a reference code of 1481. I called the IRS several times and no one at the IRS gives me the same answer. The first lady said 4 to 6 weeks. Second guy said there is no delay and I need to give it 3 weeks processing time “at least” third guy said my return has not been processed yet, there is a delay, but he can’t give me any time line of when I might get it. Anyone else have this problem and how long did it take to get your money? Thanks
Answer: The IRS is currently experiencing a number of delays due to the surge in returns forced by their delay in filing a number of forms until mid Feb. Calling is as helpful as yelling at the moon because the people that answer the phone really do not know when your refund will be processed. At best their guess is slightly more informed than the response you get from the moon*
Insider Information on Form 4506-T Processing
Tax Filing Status Options
Question: Does marital status on w-4 matter?
Ok so i believe the form that every employer makes you fill out for tazxes is called a w4…please correct me if im wrong.
in any case, im wondering if the marital status makes any difference to your deductions on that form. I know if matters when you file your taxes…it determines what tax bracket you use. But if you mark single or married on the w4, will it make any difference? Someone told me that marking “married filing seperately” will casue a little more money to be withheld. Im not even sure that “married filing seperatley” is an option on that form…and thats not what my wife and i do anyways…
not trying to be dishonest in any way, im just trying to make sure that im having enough withheld. Im already marking 0 deductions and having additional $20 withheld, but we use it as a savings and i want to be sure that im not having any less withheld becasue of the marital status.
thanks!!!!!!
Answer: Absolutely. It affect the amount withheld.
Married withholds less than single or withhold at single rate (there is no MFS).
How to File Your Taxes – Refund and Payment Options step 10 of 10
Single Filing Tax Brackets
Question: Filing as married versus single?
I know that by filing as married, you get more back on your pay check. Does it even out at the end when tax time comes around? Does the benefit of having a bigger pay check require me to pay more back to the government come tax time or vice versa? If so, does that mean the only benefit as filing as married as opposed to single is placement in the tax brackets?
Answer: You must be talking about married filing joint. If legally married you only have two options- married/joint or married filing separate. You can’t file SINGLE at all.
If you file married/joint you agree upfront to let the IRS go after you for any taxes your lying cheating spouse is found later to have done. The IRS bribes you to sign jointly (bigger refund) so they can go after either one, two fish to fry!
If you file separate (to protect yourself) they tax you the hardest- WAY higher than “single”.
AND, If the spouse/rat has a home in his name only…The IRS even takes away your deductions (you’d normally get if single) like low income credit, or child care credit, or education expense, or Schedule A deductions for business mileage, car tags, etc.
WELL the IRS says it’s FAIR, afterall he is your spouse and we just ASSUMED that you & the stingy rat shared the benefit of ALL the “joint” income, and we ASSUME that YOU, the new wife lives in the home NOT the rat’s tax-free smiling all the way to the bank EX-WIFE.
How to Complete a 1040EZ Tax Form : How to File a Single Payment 1040EZ Tax Form