How can Obama give a tax break to people who don’t pay taxes?
January 29, 2009 by Tax Blog
Filed under Questions & Answers
dmbfans101 asked:
Obama’s tax break for 95% of people includes 40+% of people that do not pay taxes. Plus he is not planning to extend the Bush tax cuts, therefor increasing taxes on 49% or tax payers.
Obama’s tax break for 95% of people includes 40+% of people that do not pay taxes. Plus he is not planning to extend the Bush tax cuts, therefor increasing taxes on 49% or tax payers.
How do I pay more taxes/forfeit my tax return?
January 27, 2009 by Tax Blog
Filed under Questions & Answers
Pearl Jam asked:
I’m 17 and I just got a job with McDonald’s, and I’ve heard about tax returns, and I was wondering how I can pay more taxes and let the government keep my tax return. Is this possible? I want to pay more taxes that the government can actually keep. Thanks
I want to give to the government, not a charity. I’m just asking how I can do it. Can you send them a check?
I’m 17 and I just got a job with McDonald’s, and I’ve heard about tax returns, and I was wondering how I can pay more taxes and let the government keep my tax return. Is this possible? I want to pay more taxes that the government can actually keep. Thanks
I want to give to the government, not a charity. I’m just asking how I can do it. Can you send them a check?
How can I reduce the tax I have to pay for the dividends I received in 2006 from stocks?Catch up on IRA?
January 25, 2009 by Tax Blog
Filed under Questions & Answers
Susan Lee asked:
Instead of re-investing the dividends in the stock I have, I requested and got them to pay me the dividends to supplement my income. I took early retirement and worked part-time in 2006. I did not put any money into IRA for 2006. In my parttime job, I had put ~$4K into a 401K account. My total AGI for 2006 is ~$67K. My preliminary tax return showed that I have to pay taxes for the dividends that I did not pay taxes in 2006. I have to pay a penalty also. In order for me to reduce taxes, can I still put money into IRA for 2006? What is the maximum amount for 55 year old and above? Are there other things I can do to reduce the taxes and hence the penalty I have to pay Uncle Sam?
Instead of re-investing the dividends in the stock I have, I requested and got them to pay me the dividends to supplement my income. I took early retirement and worked part-time in 2006. I did not put any money into IRA for 2006. In my parttime job, I had put ~$4K into a 401K account. My total AGI for 2006 is ~$67K. My preliminary tax return showed that I have to pay taxes for the dividends that I did not pay taxes in 2006. I have to pay a penalty also. In order for me to reduce taxes, can I still put money into IRA for 2006? What is the maximum amount for 55 year old and above? Are there other things I can do to reduce the taxes and hence the penalty I have to pay Uncle Sam?
What happens when you can’t pay taxes due the IRS?
January 22, 2009 by Tax Blog
Filed under Questions & Answers
jgain asked:
Ok, so I’m going to owe the IRS a few grand this year. I have a couple of grand in savings but that’s it. Can I make payments? Do I have to wipe out my savings? Should I prepare to go to jail? Any help would be appreciated…
Ok, so I’m going to owe the IRS a few grand this year. I have a couple of grand in savings but that’s it. Can I make payments? Do I have to wipe out my savings? Should I prepare to go to jail? Any help would be appreciated…