Tax Questions Answered For Free

The free tax advice will help a lot of people.
Thank You.

The real problem is that the tax system is so horribly complex. Far too complex.

Let the democrats take over and they will simplify it. Their new tax form:

A) how much did you make last year?

B) Send it in

If this where I ask a question about taxes, then I have a question. I borrowed $14,000.00 on an insurance policy back in 1999. I could not pay back on the loan at all. I got a 1099-R in 2006 that showed the gross payout was $30,000.00 and the taxable amount was 12,000.00. What happened to the interest they took off of the policy. I never received a cent from them.???

Mr Goodegg wrote:

If this where I ask a question about taxes, then I have a question. I borrowed $14,000.00 on an insurance policy back in 1999. I could not pay back on the loan at all. I got a 1099-R in 2006 that showed the gross payout was $30,000.00 and the taxable amount was 12,000.00. What happened to the interest they took off of the policy. I never received a cent from them.???

oh well...dems da breaks.

oh and no...this is not the place to ask a tax question. if you had read the story, you would know what to do.

I from Indiana, I was not able to pay my 2007 house taxes by the Dec. deadline. I realize that I can't claim them for the 2007 taxes, but can I claim it with my 2008 house taxes for my 2008 income taxes?

I when to the Irs website to check on the status of a return. There is a error code of 1201. What does that code stands for. The error stated that my claim has been delayed.

when is a 1099r taxable

hi there, is cellphone purchase in the amount of $319.99 subject to 5% sales tax?

can anyone tell me how a taxs payer is notified that the stat. of limitation has ended. my wages have been attached by the fed gov. it will end on 04/09/09 how will i know? do i call them or do they notify me thanks john

laccord1 wrote:

I from Indiana, I was not able to pay my 2007 house taxes by the Dec. deadline. I realize that I can't claim them for the 2007 taxes, but can I claim it with my 2008 house taxes for my 2008 income taxes?

I believe you need to amend your 2007 return, not claim on your 2008 return.

I believe you need to amend your 2007 return, not claim on your 2008 return.

I receive VA disability is this taxable income?

I received NJ short term disability is this also taxable income and if so will i receive an 1099 from them

My question is this: I was married in 2008 and had my name changed with the social security admin. So I have my new ss card and changed my driver's license however, I have not yet changed anything else. Not my credit cards, student loans, or deed on the house. I have received my 1098's for my mortgage interest and student loan interest to deduct for 2008. Can I file this way? Or do I need to change the deed to reflect my new name and also my student loans? I assume this would only be a problem if I was audited, correct? I can't seem to find an answer anywhere. Thanks!

I sent in my taxes and then recieved a 1098 that I didn't know I was getting. Can I claim it next year instead?

In 2007 I got a recruitment bonus for which I paid income tax.
I left that agency on 2/2/2008, and as a result I had to reimburse about 70% of the bonus back to the agency, in 2008.
How can I get the over-paid income tax (70%) back on my 2008 tax return? Where on the tax forms can I claim tax credit, or something like that, or may be straight deduction on the AGI?

if i used my daugther that is in collage as a dependent what does she do with her w2 that she has got from her job

In 2008 I worked from Jan until April. Did not file my tax because have been in jail. Want to clear up this matter next month. Am I eligible for stimulus of $300? and how do I do this with wat forms. Thanks

I bought a mobile home (owner financed) about 62 months ago at 6.32% interest over 20 years. My interest amounts to approximatly 340.00 dollars a year. Should I have been claiming this amount as a tax deduction? Also, over the last 5 years or so that I have been making my owner financed "morgage payment" I have never recieved an end of the year 1098 morgage interest statement from the seller. What is the situation I am in, and should I do?

We are based in Australia. Interested in forming an LLC in US. There will be 2 Non-US members (husband & wife) of the LLC. The company will be actively running a business dealing mainly in electronics products. There would be payment send overseas for goods purchase/import and funds received from US & Canadaian companies/institutions/individ uals for goods sold. We have been reading few things on internet and some suggest to elect an LLC to be taxed as a corporation but this is only available for members with SSN# which in our case there are none while some thinks it is possible. Kindly inform the tax liabilities and best tax structure. Please contact us for any further information required.