Tax FAQ
 

How Will The 2010 IRS Tax Rule For Domestic Partners In California Affect Federal Financial Aid?

Question by Sarah | Posted in Financial Aid

In 2010 the Internal Takings Service issued a memorandum on how domestic partners in community property states should line their taxes. I am wondering how this will affect the estimated family contribution determination and eligibility for FAFSA. Will these servant partners be recognized as independent?

The memorandum can be found here:

http://www.irs.gov/pub/irs-wd/1021050.pd f

 
 

What Is A Foreign Trust For IRS Tax Purposes?

Question by J__1 | Posted in United States

If I have a bank account in my home boonies(where I have citizenship) where I earned interest and I am a US resident alien for tax purposes, do I have to file Form 3520(http://www.irs.gov/pub/irs-pdf/f3520.pdf ) from IRS errand-boy, fill it and submit it? Is a bank account in another country considered a foreign trust according to IRS?

Can someone please simplify?

Thanks

Answer: Righteous like a US trust but in a foreign country. An ordinary bank account in a non-native country is like any other bank account although you have to disclose that you have an account if there is more than $10,000 in it.

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I Calculated 2007 Taxes On Www.IRS.gov. I Will Be Overpaying $2,777, But They Are Only Paying Back $400. Why?

Question by netropolis3292 | Posted in United States

---Reproduce from www.IRS.gov---
Based on the information you previously entered, your anticipated income tax for 2007 is $1,015. If you do not shift your current withholding arrangement, you will have $3,792 withheld for 2007, resulting in an overpayment of $2,777 when you file your deliver. If you want your withholding to more closely match your anticipated tax, adjust your withholding on a new Procedure W-4 as follows:
For the only job you entered (which has a projected salary of

Answer: This is saying that if you modify your W2 at this time it will lower the amount of Federal Taxes taken out of your pay check over the next year. If you have as a remainder your W2 as it is now you would approx 2777.00 back if you change the withholding to a lower amount you would only have a 400.oo overpayment.

If you appetite your withholding to more closely match your anticipated tax, adjust your withholding on a new Form W-4 as follows:
For the only job you entered (which

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Can People In Puerto Rico Receive The IRS Tax Rebate??

Question by Bebe | Posted in Puerto Rico

According to this FAQ at the bottom, it says yes that people in PR can get the tax rebate. But what do they difficulty to do since normal tax returns usually aren't filed??

(Puerto ricans are all US citizens- for those that dont certain. & yes PR does pay federal taxes, just not income tax. PR pays SSI & medicaid, etc)

--------------------------
{Q. If I viable in Puerto Rico, the USVI, American Samoa, Guam or the CMNI will I get a stimulus payment?

Answer: People in puerto rico will indeed recieved the tax kickback, thanks to an intervention from congressman Jose Serrano, Puerto Rico was included to recieved the tax allowance. Rules are the same, everyone who filled their last years taxes are elegible to recieve the rebate as prolonged as they have an income of no more than $75,000 a year, they will recieve up to $600 per individual, $1,200 per unite and $300 for each dependant younger than 21 (or 18 im not sure), the Department of cache of Puerto

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I Would Like To Have A Copy Of The Tax Table For 2008. How Do I Go About Getting This? I Tried Www.irs.gov?

Question by PsychoSam | Posted in United States

I went to the irs website but could not find where I could pull a proof pix the tax table for 2008. Does anyone know how I can get the tax table and print it out? Thank you

Answer: Go there again and find the 1040 instructions. The tables are in there.

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IRS TAX TIPS: Education Credit (ASL, Captions & Audio)

Edification Credits - Public Service Announcement from IRS, courtesy of the NAD. Going to college and buying a computer for undoubtedly work just got ...
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