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Taxes - Questions & Answers
- What penalties and interest am I liable for if I underpay my taxes?
- What IRS form needs to be filed on sale of a principal residence?
- Is the money received from the sale of inherited property considered taxable income?
- I received a lump-sum distribution when I retired. Is there any special tax treatment on a lump-sum distribution?
- How have the tax laws changed this year?
- Will the IRS figure the amount of taxes and credits for taxpayers?
- I'm concerned because my check for payment to the IRS has not been cashed yet. What should I do?
- Should I notify the IRS of my change of address?
- What should I do if I made a mistake on my federal tax return that I have already filed?
- I received a refund that is more than I should have received because I've discovered I made a mistake on my return. I have not yet cashed this check. What should I do now?
- How do I fill out the amended return Form 1040X?
- Can you send an amended tax return electronically?
- How can I correct a mistake on my federal e-file return?
- How can I check the status of my amended tax return?
- If I call the automated tax line or access "Where's my Refund" to check the status of a refund on an amended return, do I enter the total amount of my original refund, or only the amended amount?
- How would I obtain a private letter ruling?
- I am unable to pay my delinquent taxes. Will the IRS accept an Offer in Compromise?
- Is there any special assistance available on unresolved tax matters which are creating a hardship?
- Can I make installment payments on the amount I owe?
- What kind of penalties and interest will I be charged for paying and filing my taxes late?
- How do I request a copy of my tax return for last year?
- Can I get copies of my prior year Forms W-2 from the IRS?
- I am filing my U.S. tax return from the U.K. and am eligible for the automatic 2-month extension. Do my forms need to be in Philadelphia by June 15th, or do they just need to be postmarked by June 15th?
- How do I obtain forms (including prior year) and publications not available on your site?
- How can I collect child support from my ex-spouse?
- My ex-spouse is delinquent in paying child support. The attorney general has filed some sort of paperwork with the IRS to withhold their tax refund. When and how will I receive this money?
- Is there any way to find out if I need to file an injured spouse claim before I file a tax return?
- Can I file my tax return electronically even though I am filing a Form 8379, Injured Spouse Claim and Allocation?
- If I go to the Social Security Administration office to change my name, how long does it take the IRS to update its records?
- How can I correct the spelling of my name with IRS?
- Do I need to change my maiden name to my married name on my social security card for us to file jointly?
- I got married and I have not changed the name on my social security card to my married name. My Form W-2 is in my married name but my tax forms came in my maiden name. Should I file with my maiden name or married name?
- I received a letter from the IRS indicating that due to my misprint of my daughter's social security number, the dependent child exemption was rejected. Can I make the correction and still receive the exemption?
- How long does it take after you've filed a tax refund to receive a refund?
- How can I check on the status of my tax refund?
- Can my tax refund be used to pay other debts?
- Can a person receive a tax refund if they are currently in a payment plan for prior year's federal taxes?
- I lost my tax refund check. How do I get a new one?
- Is it possible to find out if a federal tax refund check has been cashed?
- What is a split refund?
- What are the benefits of splitting my refund?
- How do I split my refund?
- Can I still send my refund to just one account?
- Does my refund have to exceed a certain amount to split it into different accounts?
- If I want to split my refund among different accounts, can those accounts be with different financial institutions?
- Must I file electronically to split my refund?
- Can I split my refund if I file a 1040-EZ?
- Will splitting my refund cause a delay in depositing my refund?
- Can I split my refund between a direct deposit and paper check?
- Can I split my refund if I have only two accounts?
- Must I split my tax refund equally?
- Can I direct IRS to deposit all or part of my tax refund to any of my bank accounts with any financial institution?
- If I am filing a joint tax return with my spouse, must our tax refund be deposited to a jointly-held account?
- What types of accounts are eligible to receive my tax refund via direct deposit?
- Can I direct part or all of my tax refund to my prior year individual retirement account (IRA)?
- Can I direct part of my tax refund to pay a loan?
- If I use a tax professional to prepare my tax return, will it cost me more to split my refund?
- Can I direct part of my tax refund into my tax professional's checking or savings account to pay my tax preparation fee?
- Are there conditions that could change the amount of my tax refund and my direct deposits?
- What if a mistake on my tax return decreases the amount of my tax refund?
- What if I owe back taxes?
- How will IRS handle my split refund deposits if the Earned Income Tax Credit (EITC) portion of my tax refund is withheld pending further review?
- Are there other conditions that could reduce the amount of my tax refund and change the amount I want deposited to each account?
- What will happen if I own both back taxes to IRS and back child support, state taxes, student loans, etc?
- What will happen if I enter an incorrect routing or account number?
- How can I ensure my refund is deposited as I designate?
- If I split my tax refund, I still use Where My Refund? to check my refund status ?
- I forgot a deduction on my original return and am filing an amended return for an additional refund. Can I split this additional refund?
- I'm requesting an extension of additional time to file my 2006 tax return. Can I still split my refund?
- I have not filed my 2005 tax return yet. Can I also split my 2005 refund?
- What can I do if I think someone has filed a tax return using my social security number?
- My husband passed away last year, and I will be filing a joint tax return. Are any special return notations required to indicate my husband is deceased?
- May an employer provide me my Form W-2 electronically?
- I didn't get my W-2 by January 31, so I asked my employer for it, but I still don't have it. What should I do?
- I have already filed my tax return and now I have received another Form W-2. What can I do?
- I received an incorrect W-2 form. I can't get my former employer to issue a corrected W-2? What should I do?
- As a full-time student, am I exempt from federal taxes?
- What can be done if an employer will not withhold income taxes, social security, and Medicare from my pay?
- How much does a student have to make before he or she has to file an income tax return?
- If I moved out of my house on July 10, but was not divorced at the end of the year, can I file as head of household and take the earned income credit if I have a minor child? Can I also claim child care expenses?
- If the parents of a year old child never married but live together with the child for the tax year, and both contribute to the cost of maintaining the household for the child and themselves, may they both file as head of household?
- For head of household filing status, do you have to claim a child as a dependent to qualify?
- I am divorced with one dependent child. This year my ex-spouse will claim the child as an exemption. Does this mean I cannot qualify as head of household?
- I am adopting a child and do not yet have a social security number for the child. How can I claim the exemption for the child?
- My husband and I have provided a home for my niece and her son for the past seven months. She receives no child support from her ex-spouse, and she does not work or have any income of her own. Can I claim her and her son as dependents?
- Is there an age limit on claiming my children as dependents?
- How do you claim a child if you agree with your ex-spouse to claim him 6 months and he claims him the other 6 months of the year?
- My wife and I are married filing separately. We have one son and we meet all of the dependency exemption tests. We contributed an equal amount to our son's support and want to know if we both can claim him on our separate returns?
- My husband and I were separated the last 11 months of the year and our two children lived with me. My husband provided all the financial support. Who can claim the children as dependents on the tax return?
- If you pay child support, are you allowed to deduct anything on your taxes or claim the child as an exemption?
- Can a court order determine who may claim a dependency exemption for a child? Does the court order supersede the IRS requirements?
- My son was born on December 31st. Can I claim him as a dependent? If so, will he be also qualified for the Child Tax Credit?
- My daughter was born at the end of the year. We are still waiting for a social security number. Can
- My child was stillborn. He died right before he was delivered. Can I claim my child?
- If I claim my daughter as a dependent because she is a full-time college student, can she claim herself as a dependent when she files her return?
- My university required each incoming freshman to come to school with their own computer. Is there any way to deduct the cost of the computer from my tax liability?
- What types of educational expenses are tax deductible?
- Can I claim a tax deduction for the cost of classes I need for work?
- Am I eligible to claim both my job education expenses (minus 2% of AGI) and the Lifetime Learning Credit on my taxes?
- My employer is including my graduate school tuition reimbursements on my W-2 as wages. Where do I claim these education expenses on my Form 1040?
- How do I claim an educational expense on my tax return?
- What are the limits for claiming a tax deduction for interest paid on a student loan?
- Last year, my parents took out a student loan for me in their name and I also took out a student loan. My parents received Form 1098-E for their loan and I also received Form 1098-E for my loan. Can we both claim the interest from the loans on our tax returns? Last year, I was not their dependent.
- I donated a used car to a qualified charity. I itemize my tax deductions, and I would like to take a charitable contribution for the donation. Do I need to attach any special forms to my return? What records do I need to keep?
- Is the interest amount that we paid to the IRS tax deductible?
- Can I claim a tax deduction for alimony paid to my former spouse?
- My father is in a nursing home and I pay for the entire cost. Can I deduct the expenses on my tax return?
- I have a mortgage for my primary residence and a second mortgage for land that I intend to build a home on. Can the interest be claimed as a tax deduction for the second mortgage?
- Is interest on a home equity line of credit tax deductible as a second mortgage?
- I refinanced my home last year and paid points. Are they all tax deductible this year?
- I took out a home equity loan to pay off personal debts. Is this interest deductible? Where do I enter this amount on my tax return?
- Our home was seriously damaged by flooding last year. Are there special provisions for claiming a loss or tax write-off since our home is located in a declared disaster area?
- Is the mortgage interest and property tax on a second residence tax deductible?
- If I must deduct points over the life of my mortgage, and I have a 30 year mortgage, does this mean that I divide the points paid by 30 and enter that amount on Schedule A?
- My spouse and I are filing separate tax returns. How can we split our itemized deductions?
- I am in a disaster area and heard the IRS could help me. What can the IRS do?
- How do I report this 1099-DIV from my mutual fund?
- I received dividends from my credit union. How do I report this income?
- How do I report interest received on an installment sale?
- I received a Form 1099-MISC instead of a Form W-2. I'm not self-employed, I do not have a business. How do I report this income?
- I am self-employed. How do I report my income and how do I pay Medicare and social security taxes?
- My son is a newspaper carrier. I would like to know if this income is subject to Social Security and Medicare tax and if I must file a Schedule C for him?
- I received a Form 1099-MISC with an amount in box 7, (nonemployee compensation). What forms and schedules should be used to report income earned as an independent contractor?
- What, if any, quarterly tax forms must I file to report income as an independent contractor?
- I received a Form 1099-G, for my state tax refund. Do I have to include this amount as income on my return?
- Why is it that I may have both gain (or loss) and COD income upon foreclosure of my house?
- What is COD income, and how is it calculated?
- How do I compute gain or loss on a disposition by foreclosure?
- If the mortgage debt is nonrecourse, is there COD income on the foreclosure?
- If your house is foreclosed upon and your mortgage debt is recourse, are there circumstances in which you may have gain or loss but not COD income?
- Can COD income ever be excluded from my gross income?
- How do I report COD income on my tax return?
- Can gain on the foreclosure of my house be excluded from my gross income?
- How do I report a foreclosure gain or loss on my tax return?
- Are alimony payments considered taxable income?
- Are child support payments considered taxable income?
- What box on the Form W-2 do I use to determine my income to go on my tax return? What are all of these other boxes for? Does the amount from any other box go anywhere on my tax return?
- Should Line 10, Dependent Care Benefits, of my Form W-2 be included when calculating my income?
- Is the money received from the sale of inherited property considered taxable income?
- I received an academic scholarship that is designated to be used for tuition and books. Is this taxable?
- Are proceeds paid under a life insurance contract taxable and do they have to be reported as income?
- I am receiving long-term disability. Is it considered taxable?
- A minister receives a salary plus a housing allowance. Is the housing allowance income? Where does the minister report it?
- Are all ministers treated as self-employed for social security purposes?
- I cashed some Series E, Series EE and Series I savings bonds, how do I report the interest?
- Of my allocated tips, I tip-out 15% to the busboy and 5% to the bar. Where do I deduct this on my tax return?
- Am I considered covered by an employer sponsored retirement plan for the year if I do not participate in the plan or if I did not work long enough to be vested?
- This is the first year that I received retirement benefits. Are any of my benefits taxable?
- What is the maximum amount that I can contribute to my 401(k) plan?
- I received a lump-sum distribution when I retired. Is there any special tax treatment on a lump-sum distribution?
- If taxes are withheld from my 401(k) distribution, do I have to include that money as income and do I pay the 10% early withdrawal fee as well?
- Can I withdraw funds penalty free from my 401(k) plan to purchase my first home?
- I changed jobs and my old employer sent me a check for my 401(k) money withholding 20% for Federal Income Tax. I rolled over the distribution to my 401(k) plan at my current employer within 60 days. Since money was withheld from the 401(k) distribution, do I have to include that money as income?
- If I retire or am laid off before I am 59 1/2, can I withdraw the funds accumulated in a 401(k) plan, without having to pay a 10% penalty?
- My understanding is that if I am over age 55 and default on a loan through my 401(k) plan when leaving the company, the 10% penalty is forgiven. Can you confirm that for me?
- How long do I have to roll over a retirement distribution?
- I received social security benefits this year that were back pay for prior years. Do I refile my tax returns for prior years? Are the back benefits paid in this year for past years taxable for this year?
- I retired last year, and started receiving social security payments. Do I have to pay taxes on my social security benefits?
- Are social security survivor benefits for children considered taxable income?
- My spouse and I both work and are eligible for the Child and Dependent Care Credit. May I include my 5 year old son's parochial school kindergarten tuition cost as a qualified expense in Form 2441, Child Care Expenses?
- I was under the impression that a Dependent Care Benefit Plan would benefit me, not penalize me with an increase in taxes. How can my employer say they provided a benefit in the total amount of $3,000 in W-2, Block 10 when I had $3,000 in wages set aside for dependent care benefits?
- How do I complete Form 2441 if I have flexible Spending Account?
- My babysitter refused to provide me with her social security number. Can I still claim what I paid for child care on my taxes while I worked? If so, how?
- I am thinking of having a family member baby-sit for my child full time in their own home while I work. Are either of us responsible for taxes on the money I would pay? Can I claim this money as a child care expense even though my family member is not a registered day care provider?
- Can elderly day care payments qualify for the Child and Dependent Care Credit?
- Does the Form 8332 (used to release the exemption to the noncustodial parent) affect the Child Tax Credit?
- Can you file for the Child Tax Credit and the Child Care Credit, too?
- Can I get the Child Tax Credit for a child with an ITIN, not a social security number?
- Can I get the tax credit for the Elderly or the Disabled?
- How is the amount of the Hope or Lifetime Learning Credit determined?
- What expenses qualify for the education tax credits?
- Are expenses to attend private high schools eligible for the education tax credits?
- Can I claim an education tax credit if I am married but file separately?
- If I pay college tuition and fees with a scholarship, can I claim an education tax credit on Form 8863 for those payments?
- If the amount of qualified tuition and fees I pay is greater than the amount of my scholarship, should I fill out Form 8863? If I cannot use Form 8863 because I received a scholarship, what can I do?
- If tuition was paid by a government subsidized loan, can I still take the Hope or Lifetime Learning Credit?
- Who can claim the Hope Credit?
- What is a Lifetime Learning Credit?
- Who is eligible for the Lifetime Learning Credit?
- Can the Lifetime Learning Credit be used for a high school student taking classes at an approved college prior to graduation from high school?
- I heard there is a tax credit for hiring certain groups of workers, such as veterans or ex-felons. Is that the same thing as the Work Opportunity Tax Credit?
- My child was born and only lived 40 minutes. Can she be used as a qualifying child when figuring the earned income credit and the child tax credit?
- In order to claim the earned income tax credit, does the child have to be claimed as a dependent?
- If the noncustodial parent receives permission from the custodial parent to claim a child on his or her tax return, is the noncustodial parent eligible for the earned income credit?
- My wife and I have two children and we are going to file separate tax returns this year. Can we each claim one child for the earned income credit?
- Is child support considered income when calculating the earned income credit?
- If both parents want to claim the earned income tax credit, who is entitled to it if there was no marriage?
- Can I get the earned income tax credit?
- Can Form 1040EZ be used to claim the earned income tax credit?
- Is an S-Corporation required to pay quarterly estimated tax?
- How do partnerships file and pay quarterly estimated tax payments?
- Most of my income is from farming. Are there any special provisions related to estimated tax payments for farmers?
- How do I know if I have to file quarterly individual estimated tax payments?
- Do self-employment taxes need to be paid quarterly or yearly?
- When are the quarterly estimated tax returns due?
- How do I report the estimated tax payments I have made when I file my taxes at the end of the year?
- If I anticipate a sizable capital gain on the sale of an investment during the year, do I need to make a quarterly estimated tax payment during the tax year?
- What is meant by "no tax liability" in the exceptions to the estimated tax penalty?
- What is the basis of property received as a gift?
- I have investment property. Can you explain the term "basis of assets"?
- I sold my principal residence this year. What form do I need to file?
- If I sell my home and use the money I receive to pay off the mortgage, do I have to pay taxes on that money?
- If I take the exclusion of capital gain tax on the sale of my old home this year, can I also take the exclusion again if I sell my new home in the future?
- I lived in a home as my principal residence for the first 2 of the last 5 years. For the last 3 years, the home was a rental property before selling it. Can I still avoid the capital gains tax and, if so, how should I deal with the depreciation I took while it was rented out?
- How do you report the sale of a second residence?
- How do I figure the cost basis of stock that has split, giving me more of the same stock, so I can figure my capital gain (or loss) on the sale of the stock?
- How do I figure the cost basis when the stocks I'm selling were purchased at various times and at different prices?
- How do we show on our tax form where dividends are reinvested?
- How do I compute the basis for stock I sold, when I received the stock over several years through a dividend reinvestment plan?
- How do I report participation in an employee stock purchase plan on my tax return?
- I purchased stock from my employer under an employee stock purchase plan. Now I have received a Form 1099-B from selling it. How do I report this?
- Should I advise the IRS why amounts reported on Form 1099-B do not agree with my Schedule D for proceeds from short sales of stock not closed by the end of year?
- Do I need to pay taxes on that portion of stock I gained as a result of a split?
- I have both purchased and sold shares in a money-market mutual fund. The fund is managed so the share price is constant. All gain is reported as dividends. Do I have to report the sale of these shares?
- How do return of principal payments affect my cost basis when I sell mutual funds?
- How do I calculate the average basis for the sale of mutual fund shares?
- If I used an average basis method for shares of one mutual fund I sold, do I have to use it for all mutual funds I sell?
- How do I calculate the average cost method of a mutual fund if the fund price splits?
- I received a 1099-DIV showing a capital gain. Why do I have to report capital gains from my mutual funds if I never sold any shares?
- Is the loss on the sale of your home tax deductible?
- I own stock which became worthless last year. Can I take a bad debt deduction on my tax return?
- Can the entire acquisition cost of a computer that I purchased for my business be deducted as a business expense or do I have to use depreciation?
- What kinds of property can be depreciated for tax purposes?
- What form and line do I deduct the standard mileage rate for my business travel and do I need to figure depreciation of the vehicle, too?
- What form and line do I deduct the standard mileage rate for my business travel and do I need to figure depreciation of the vehicle, too?
- I have a home office. Can I deduct expenses like mortgage, utilities, etc., but not deduct depreciation so that when I sell this house, the basis won't be affected?
- We have incurred substantial repairs to our rental property: new roof, gutters, windows, furnace, and outside paint. What are the IRS rules concerning tax depreciation?
- I purchased a rental property last year. What closing costs can I deduct?
- Can you deduct Private Mortgage Insurance (PMI) premiums on rental property? If so, which line item on Schedule E?
- I rent my home out for two weeks each year. Do I have to show the income on my return?
- I am renting a house to my son and daughter-in-law. Can I claim rental expenses?
- What form(s) do we need to fill out to report the sale of rental property?
- We are selling rental property and have never claimed depreciation. What do we do about this when we file our taxes?
- What forms do we file to report a loss on the sale of a rental property?
- Can a husband and wife run a business as a sole proprietor or do they need to be a partnership?
- Are partners considered employees of a partnership or are they self-employed?
- I recently formed a limited liability company (LLC). The LLC has no employees. Do I need a separate Federal Tax ID number for the LLC?
- For IRS purposes, how do I classify a limited liability company? Is it a sole proprietorship, partnership or a corporation?
- Must a partnership or corporation file a tax form even though it had no income for the year?
- Can you give me plain English definitions for the following: (1) a closely held corporation, (2) a personal holding corporation, and (3) a personal service corporation?
- What is the difference between a Form W-2 and a Form 1099-MISC?
- How do you determine if a person is an employee or an independent contractor?
- I made some money repairing radios and television sets last year. How do I report this income?
- As an employer, do I have any liability if my employees receive tips but don't report them to me?
- If the reported tips from employees are more than 8% of sales, must an employer still allocate tips to the employees?
- When an employer provides day care assistance, should the employer's contribution be reported in box 10 of Form W-2?
- Can an employer take out taxes if a Form W-4 was never filed?
- If an employee claims more than 10 exemptions on their Form W-4, does the employer have to report this to the IRS?
- Is an employer ID number the same as a tax ID number?
- Does a small company need a tax ID number?
- Under what circumstances am I required to change my employer identification number (EIN)?
- Do businesses have to obtain the taxpayer identification number (TIN) from vendors and keep it somewhere on file?
- We are about to hire employees and need to know how much tax to take out and where to send this money?
- We hired a nanny to look after our baby while we work. How do we pay her social security taxes and properly report her income?
- How do you distinguish between a business and a hobby?
- If I pay personal expenses out of my business bank account, should I count the money used as part of my income, or can I write these expenses off?
- For business travel, are there limits on the amounts deductible for meals?
- Where can I find the per diem rates for foreign countries?
- I use my home for business. Can I deduct the expenses?
- If you lease a vehicle, can you deduct the cost of the lease payments plus the standard mileage rate?
- Are excise taxes for a vehicle deductible?
- If you lease office equipment and machinery with the option to buy, when do you depreciate the purchase price?
- Are business gifts tax deductible?
- Can I deduct my investment expenses as business expenses?
- I am self-employed. How do I report my income and how do I pay Medicare and social security taxes?
- If you have run a small business in the past, but this year there is no income or expenses, is it necessary to file a Schedule C?
- I am starting a small business. What assistance can IRS give me?
- How do I find out about whether or not my business needs to collect sales tax?
- I just started a small business and want to know if I have to file my income taxes quarterly or at the end of the year?
- Which form do I use to file my business income tax return?
- What is the due date for business returns?
- I am a U.S. citizen. If I move to Canada to live and work there as a Canadian permanent resident, do I pay both U.S. and Canadian Taxes?
- I am a Canadian citizen living and working in the U.S. for a U.S. employer on a visa. Do I need to file both a U.S. tax return and a Canadian tax return?
- Are the Canada Pension Plan and Canadian Old Age Security Benefits taxable? If they are, please tell me where they should be entered on Form 1040.
- Is there an Internet site with the exchange rates to convert foreign currencies to American dollars?
- What is foreign earned income? Is it income from a foreign source or income paid by a U.S. company while living abroad?
- Do I have to meet the 330-day presence test or have a valid working resident visa to meet the requirement for foreign income exclusion?
- I am a nonresident alien. Can I take the foreign earned income exclusion if I meet the bona fide resident test or physical presence test? If yes, what is the tax form used for nonresident taxpayer?
- I live in a foreign country. How do I get a social security number for my dependent who qualifies for a social security card?
- My spouse is a nonresident alien. How can I get a nonworking social security number for her?
- Under my visa as a temporary nonresident alien, I'm not subject to social security and Medicare withholding. My employer withheld the taxes from my pay. What should I do to get a refund of my social security and Medicare?
- Are nonresident alien students, with F-1 or J-1 visas and employed by a U.S. company during the summer, required to have federal income taxes withheld from their paychecks?
- I am a U.S. citizen working abroad. Are my foreign earnings taxable?
- I am a U.S. citizen working for a U.S. firm in a foreign country. Is any part of my wages or expenses tax deductible?
- I am a U.S. citizen living and working overseas. Can I have a tax credit on my U.S. taxes for the taxes I pay to the foreign country?
- How do I know if the U.S. has an income tax treaty with another country?
- What software is approved for IRS e-file?
- We will be filing a joint tax return. Can we file our return electronically?
- How can I participate as an electronic filing Provider?
- I filed electronically but my tax return was rejected. What do I do now?
- My electronic tax return keeps getting rejected for a dependent's social security number used more than once or on another return. I have verified the social security numbers of all my dependents with the Social Security Administration and no one else is authorized to claim our children on their taxes. How do I correct this error so that an e-file return will go through?
- Can I file an amended Form 1040X electronically?
- I don't owe taxes. Can I file electronically after April 15th?
- If I file electronically, what do I do with my W-2 forms?
- How do I request approval to file information returns electronically (magnetically)?
- I have a small business. Who is required to file Forms W-2 electronically?
- How do I deduct the administration expenses of my father's estate?
- I am considering a tax shelter investment. How can I recognize an abusive tax shelter?
- The IRS corrected my return and sent me an additional refund. Does this mean I am also entitled to an additional refund on my state tax return?
- How do I calculate the minimum amount that must be withdrawn from my IRA after age 70 1/2?
- How long do I have to roll over a distribution from a retirement plan to an IRA account?
- If I can't withdraw funds penalty free from my 401(k) plan to purchase my first home, can I roll it over into an IRA and then withdraw that money to use as my down payment?
- Do I report my nondeductible Roth IRA contributions on Form 8606?
- Can a person make a contribution to a SEP-IRA and a Roth IRA, too?
- I want to establish a traditional individual retirement arrangement (IRA) for my spouse, and I need additional information. What is the most I can contribute to a spousal IRA during the tax year?
- Can I take an IRA deduction for the amount I contributed to a 401(k) plan last year?
- Do I have to file a tax return?
- Are scholarships and fellowships taxable?
- Is life insurance taxable?
- What documentation do I need to back up a charitable deduction?
- How much can I deduct if I donate my car to charity?
- How can I make sure a charity is eligible to receive tax-exempt donations?
- What are tax consequences of mortgage payments?
- What Is the Uniform Transfers to Minors Act?
- What Is a Death Tax?
- Can I Deduct Moving Expenses from My Taxes?
- Should I Pay My Tax Bill With My Credit Card?
- When Do You Have to File Quarterly Taxes?
- What Is the Earned Income Tax Credit?
- Can I Set Up a Payment Plan with the IRS?
- Can I Deduct My Commuting Costs?
- Can I Adjust My Withholding at Any Time?
- What Vehicles Qualify for the Alternative Fuel Credit?
- What Is the Alternative Fuel Credit?
- What Is Form 1040?
- What Is a Gift Tax?
- Do I Really Need a Tax Preparer?
- Am I Withholding the Right Amount of Tax?
- What Is the Taxpayer Bill of Rights?
- What Is the Earned Income Tax Credit?
- Are Rapid Refunds Really Worth It?
- How Do I Prepare for a Tax Audit?
- How Does Donating To a Charity Benefit Me At Tax Time?
- What Are the Tax Implications of Selling a Home?
- What Are the Tax Implications When You Sell Your Home At a Loss?
- What Is the Marriage Tax Penalty?
- What Is an Offer in Compromise (IRS Form 656)?
- How Can I Make Sure I Get All the Tax Deductions That I Qualify For?
- What Is the Difference Between a Standard Deduction and An Itemized Deduction?
- Can I Claim My Elderly Parent As a Dependent?
- What Are Some Red Flags to Watch out for When Selecting a Tax Preparer?
- Can I Deduct Losses in My Retirement Account?
- How Do I Figure out Which Tax Bracket I’m in?
- What Is the Foreign Tax Credit?
- Is There a Way for Me to Check My Tax Preparer’s Background?
- What Is the Child Tax Credit?
- Is There a Tax Benefit to Forming an S Corporation?
- What Online Resources are Available for Tax Help?
- What is an IRS W-2 Form?
- What is an IRS Form W-4?
- What is an IRS 1099 Form?
- What are the Most Common Tax Deductions?
- How Are Dividends Taxed?
- How are Capital Gains Taxed?
- How Do I Determine the Cost Basis for Stock I Sold?
- How Do I Report My Child's Interest Income on a Tax Return?
- How do I Report my Child's Investment Income on a Tax Return?
- How Can You Qualify for the Home Office Tax Deduction?
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