Benevolence Income Tax Question

Benevolence Income Tax Question

Our church gave a needy family 500.00 benevolence for 1 year.

Are they to be taxed on this as income?

Can I?

Can I still file taxes without claiming my daughter when I've made 2000$ if my mom claimed my daughter?

Complicated!!!

by Eric
(Crete, IL, USA)

I have a pretty complicated set of questions related to tax credits. I bought a home in 2008 that required some extensive repair. My tax professional at the time urged me to apply for the first time home buyer credit offered for that year. I did and opened up pandora's box to an audit. I was not living in the house yet, and in fact was in a construction loan to rehabilitate and reconstruct the home. IRS denied me the credit due to the fact that I was not living there at the time of credit application. Now it had been almost 2 years and the house was finally complete and habitable. I am now recently living in the home and have changed all my legal responsibilities to this address. Given that I was already denied the credit once, is it possible to apply for the credit on a past tax year, despite the folly? Basically under what circumstances would I still be eligible, if at all? I am about to file my 2010 tax return and was wondering if it were worth my while to try and ammend past returns? Anyone have some insight or a definitive answer on this or had any instance similar to this that might put me at ease?

Court Judgement

Can I claim a loss on my 2010 return for a civil court judgement of $7800+ which I was awarded in March 2009 but that the defendant hasn't paid?

Documentation

Do I need to submit any documentation for my disabled brother that I am claiming on my taxes when I file online?

Fixed Municipal Bond

(Florida)

I have a fixed municipal bond both my son and my name is on it. I would like to remove by son's name off the bond and place him on it as payable upon death instead. I know the gift tax is 13,000 would he have to pay 12,000 on gift tax in order to make this change?

Flat Rate

If I am employed as a Rigger/Scaffolder dual ticketed and my employer pays me a flat rate of $45.What are my responsibilities to him and what are his resonsibilities to me as far as tax, super, and what ever other responsibilities we have to each other?

Form of Verifcation I Did Not File

by Karis
(Oklahoma)

I believe there is a form can get from IRS to verify I did not file taxes last year.because my income was to low..I need this to prove to the hospital where I had surgery

Future Surrogate

by Elizabeth
(Palmdale CA USA)

I was thinking do I have to report any of the money I receive to the irs. I talked to the lawyer and he didn't want to give me a straight answer he just told me that they do not issue a 1099-R.

Grant

by Penny
(Excanaba, MI)

I received a grant for my art studio is this taxable income?

gusto ko lang pong malaman kung pano ko makukuha id ko

by dave-vid cabanding
(quezon)

2003 i start of my sss insurance self employed pero ngayon wala pa id ko lagi ko nang pinapa low up

Help Me So Confused

by Colleen
(Cleveland, Ohio)

I just started a job at a church/community center they have not put me on payroll but I also do not make a lot of money. I only made close to 1500.00 for the few months of 2011 but no taxes were taken out. I have three small children I take care of all year am I going to even recieve a tax refund. Or will I have to pay out a bunch of taxes to the irs? Help please.

Homeless Senior

by Maria
(California)

My 85 year old mom has been living in a nursing facility for the past three months. She pays share of cost to the facility with her monthly Social Security check which only leaves her $35.00 per month.

We just found out she owes $12,000 back taxes to the IRS. If she cannot pay this amount, can the IRS garnish her Social Security check even if this is the only income she receives and gives to the nursing facility?

Inform About Whose Not Paid Income Tax

by Samir
(Gujarat)

How could I send information about whose not actually paid income tax in income tax department seriesally I have a information about whose not paid income to government ...

Installment plan

by Sylvia
(Pittsburgh)

I used turbo tax for the first time to file my 2007 state income tax. I obviously did it incorrect because the irs let me know in 2009 that i owed 350 to them because they didn't receive my paperwork. I am now in an installment plan to pay it off. I owe federal tax 3000 dollars this year can i still apply for an installment plan to pay that off.

Intercept

If I owe traffic tickets which refund will be intercepted state or federal?

Thank you for your tax intercept question. If you owe traffic tickets and are expecting your refund to be intercepted, you should typically expect your state refund to be the one that is intercepted as traffic tickets are a state issue.

Is Previously Unclaimed Property Once Recovered Taxable?

The PA Treasury runs an Unclaimed Property Dept. I recently recovered property belonging to my deceased father (died 2002) There are no 1099 forms issued and the Dept claims it notifies no other agency upon destribution of the assets. Is there a federal income tax consequence? is this income?

Juvenile With a Baby In-Jail

Hello,
My juvenile dependent was locked-up all year until 12/15/10. While in jail, she turned 18 in June. She also had a baby girl in July. They both now live with us again while she tries to get her life together. My questions are: A) Can I still claim my juvenile as a dependent for 2010? B) Can I claim my granddaughter that was born in July as a dependent for 2010?
thank you,
Andrew Willi

Lady Bird Deed

My father passed away February 2010. He had a lady Bird deed on his home in Texas naming myself and brother as the grantees to his home which transfered the deed into our names upon his death. We sold his home each recieving $18,000.00 after paying off the mortgage. Do we have to report this on our income tax return? If so how? Is this considered inheritance,or capitol gain or do we have to report it at all??

Leaseback

I use my truck for my lawn business. It is a sole owner LLC with a different name than my name. The vehicle is my personal vehicle and in my name.

My insurance rep said I have to leaseback it to the company to protect me if I have an accident. If so, how is this done and recorded in my books?

Length of Time

by Roland Sherwood
(Haverfordwest )

How long can the tax man go back to re claim out standing taxes?

Hi Roland,

Thank you for your question.

The "tax man" can claim outstanding taxes for up to ten years from the date of assessment.

LOCKED UP

by LINDA
(KY)

IF MY HUSBAND WENT TO PRISON CAN I FILE INCOME TAX FOR HIM OR GET POA TO DO TAXES OR DOES HE JUST NOT FILE?

Loan From Director

by G Thomas
(Scotland)

Hello, I needed a small loan for my business and went to my bank who refused to loan the business any money.

So I had some savings which I loaned the company. I called it a loan from director.

Unfortunately after a couple of years the company went bust (it had been trading for 11 years) but during the two years I had managed to pay back 75% of the loan to myself.

The government receiver put my case over to a private receiver and now they are claiming I owe the money I lent the company. Its £50,000 - I haven't had a job since my business went bust so I haven't got that kind of money anymore.

I tried to explain that the money loaned was from my own savings and it was a repayment of a loan but they want this money to pay the creditors. One of the creditors on the list is the fee for this private receiver.

I don't know what to do?

Mobile Office

I am curious as to whether or not a rv can be used as an expense as a mobile office?

If the RV you are using is being used exclusivley for business as a mobile office, it can be used as an expense as a mobile office on your income tax return. Make sure to differentiate between all of the different types of expenses that are included such as gasoline, maintenance & repairs, interest expense, utilities, etc.

Mr. Mukesh submits the following particulars

Mr. Mukesh submits the following particulars in respect of his income of previous year 2010-11.
Rs.
Income from Business 1,05,000
Interest on Govt. Securities (Gross) 25,000
Interest from House Property 35,000
Net Agricultural Income 10,000
Compute Income Tax payable by Mr. Mukesh for the assessment year 2011-12.
..

Need Advice

by Bernice
(Toronto, Canada)

I have taken a loan from my bank. They are taking money from my account to pay it off monthly for the next four years. The amount of the loan was for seven thousand dollars and it was for personal reasons. Will I have to declare it on my income tax until it is paid off?? Or not?? I have never taken a loan before, therefore not sure what i need to do.

No Federal Withholdings

What do I do if my employer did not withhold federal taxes from my pay during the year?

Parking

by Tami
(Mississippi)

Can I use a parking pass for work as a tax deduction? What if the company gives a free pass but it is not in the same building I work?

PF Contribution Reduced

by Vivek
(Mumbai)

Recently I have joined a new organization. Before joining it was agreed the PF contribution as per normal practice 12% on basic. But after my joining I came to know that for 12% contribution, basic is considered as Rs 6500 as ceiling amount. Now because of that my PF deduction is coming very less.

Company is adding the difference amount in Persoal Pay. Now my worry is as soon as it becomes part of salary, it will attract the tax.

When I had a discussion with HR, they are saying it will be one and the same as you can show the savings from this income in 1 Lakh slab and save the tax as PF contribution will be less.

I am not very clear about this. Can experts through some light on this ?

Thanks in advance

Vivek

Private Jet Service

by Jim
(North Port Florida)

I currently work for a company as an employee, and have been asked to attend a year end sales meeting, driving would take about 8-9 hours, commercial airliner would cost approximately $400-$500 round trip...my question is could I use a private jet service and personally absorbing the cost of the private jet or light turbo-prop then deducting this as an unreimbursed business expense on my 2011 tax return?
Thanks

Probate Estate

How do I handle distribution from probate estate in my income tax return?

QDRO Question

Through a divorce settlement I was ordered to have funds transfered from my deferred comp plan into an account set up for my ex spouse. Can I claim these funds as alimony paid in 2010?

Recent Employer Filed Bankruptcy

by LuckyBOOO
(Lahaina)

What will happened if my recent employer went bankcrupt earlier this year. Do I still get a w-2 form from them?

Thank you for your question about your recent employer filing bankruptcy.

Even if your employer filed bankruptcy, they are still required to file all pertinent tax forms for wages paid out during the year.

If you do not end up receiving your W-2 from them and are not able to get in contact with anyone, you are required to file the information yourself using the year to date information from your last paycheck stub.

Regars!

Recently Separated

by Jake
(Texas)

My wife and I recently separated, we filed a joint return I worked the entire year while she stayed at home with kids (homemaker). I just received the check, how much of it is she entitled to?

Refinance

Can you write off the costs to you to refinance your home for a lower intrest rate?

Relocation Expense Question

by M
(R)

I recently moved from Chicago to Boston and am planning on deducting the expense of moving my household on the tax return for 2010. When I moved I had to bring over a U-Haul and my car. I had a friend fly down to Chicago, he drove the U-haul to boston and I drove my car simultaneously. I paid for his air ticket to chicago. When the move was done, I also paid for his air ticket back to his home city. Can I deduct this return ticket air fare that I paid for my friend since technically it was expense to move my household?

Thanks

Self Select Pin Number

by Raymond Bach
(Henderson,Ky)

Last year I used online e-file tax software to file my 2010 income tax. This year I am doing the same but with a different software. I used a self select pin number.

My question: can I use that same pin number to file 2011 taxes with the different software, or is it exclusive to the previous software.

Or, a better way to ask the same question: is the self select pin number exclusive to the IRS or the software? Thank you in advance.

Specialty Foods

My daughter has food allergies (Lactose intolerant and Gluten allergy). Can I write off the specialty foods I purchase for her on my income tax return?

Spread Sheet Application

by Ralph
(Nova Scotia, Canada )

How much money are we allowed to earn in Canada before taxes? What is our basic exemption?

Started Business with 5 Lakh

by sangita
(panipat)

I started my business in jan 11, my age is 34. I invested 5.00 lakh in cash in my businss. I want to know, income tax purpose, is it ok or not?

Statue of Limitation

I had a car that repossed since 1999. Now I get a notice in 2011 from the irs that the bank have reported this as earned income for the year 2009. I live in SC. After over ten years can they do this.

Temporary Alimony

I am considering entering a separation with my wife for a 3 year perion so she can keep my medical coverage which she would lose if we get divorced. My question is that I will be paying her temp alamony for the 3 yrs., and I would like to know it i can claim this temp. alamony on my taxes.

Thank you

Totally Uncertain About Tax Return

Do people in nursing homes with Dementia have to lodge an Australian Income Tax Return?

What Should I Do?

by Liaamya Jones
(Detroit)

What should I do if my employer withholds more taxes from my paycheck than I owe?

Whats Going On

by Shakiyla
(Akron Ohio)

I filed my tax return January 18 2012 I was scheduled to have a direct deposit January 27 2012 but it was rejected because of a wrong routing number my bank account now sent the money back to the IRS the same day January 27 now when I call the IRS they said they received the money ack and it is getting processed still but how long does it take to b processed. Does that mean it has been mailed out I really want to know how long this takes

We All Need Money

How can I find out who is filing me on there taxes?

Wrong Adrress

by Pudge
(lithonia Ga.)

I e-filed with my parents address filling head of household with my two children but I don't live there. I'm having it direct deposited. My parents are filing married joint. Will that cause a problem for them

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