The Tax Preparation Blog

Posts Tagged ‘federal’

Question: Bankruptcy, Multiple Addresses, and Filing Federal And State Taxes?

I need help, Please.

I lived in PA my whole life, own a home there. I lost my job 1.5 years ago, and I had to file bankruptcy in april of 2007. For the past 8 months I have been staying with a friend and working in Missouri. But my home is in PA, but been using my friends address for local employment.

My question is:

Do I file my federal and state taxes for Pennsylvania like I always have? If I do that, and on my PA forms, put down taxes that were paid to MO, or do I have to file MO only, and if I do that, PA will be looking for me for taxes? Or if I do the PA income tax, will MO be after me for a tax return?

Also, does my bankruptcy and chapter 13 payment plan affect my tax return at all?

I am in need of help. I always do my taxes myself cause I cannot afford to pay an accountant right now.

Please help.

Answer: If you use a program like TurboTax it will take you thru the process and asks you the relevant questions. $40 is a good investment in knowing you did your best with this gruesome task. I highly recommend it because tax code is complex and none of us is expert. Their publications are written by bureaucratic lawyers and not in real English.

you pay income on taxes depending on where it was earned, in this case MO. the only taxes you would pay in PA (not to the IRS) are property taxes on your home.

can’t address bankruptcy but I think the TurboTax program does

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

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Engineers say town needs to act on sewer plant upgrades

MARK HIBBS NEWPORT — The process to upgrade and expand the town’s sewage treatment plant needs to start now to avoid state fines and a possible moratorium as well as help secure federal and state funds for the multi-million-dollar project.

6 of 9: It is Legal NOT To Pay Federal Income Tax (for most)

Question: Can you make personal Income Tax Estimated Payments all lumped together in the fourth quarter?

Or MUST you pay them in approximately four or more equal payments throughout the year? Would there be a penalty for paying it all at once in the fourth quarter? I am trying to avoid any penalties, and I can certainly pay the taxes right now in January and well before April 15th. This is in regards to federal taxes, but any insight on state taxes would be great too (such as for Massachusetts and Rhode Island).

Thank you for your help.

Answer: The IRS calculates the estimated tax penalty by the date the payment came in.

If you pay the entire amount due on 1/15, the computer will notice that the amount due 4/15/2009 came in 9 months late; the amount due 6/15 came in 7 months late; the amount due 9/15 came in 4 months late and the 1/15 payment was on time.

Yes, you will reduce the penalties by sending money now, but you won’t avoid them if they were due.

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

TurboTax Basic Federal + e-File 2010 – [Old Version] $4.99 The Intuit TurboTax Basic Tax Year 2010 Software automatically double-checks to help make sure your return is accurate. It features downloadable Audit Support Center, which provides guidance on everything you need to do if you are contacted by the IRS. And finally, it files your return electronically and prints it on plain paper….

TurboTax Estimated Taxes Quarterly Income Tax Filer Win/Mac $29.95 TurboTax Estimated Taxes is your complete estimated income tax solution, from figuring to filing. It helps eliminate tax-time surprises, penalties and fines…and minimizes under- and over-payments. Enjoy the relief, peace of mind and control that come from doing your quarterly estimated income taxes right: this online program guides you through estimated taxes, step-by-step, quarter-by-quarter, a…

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Delphi Retirees to Pay Taxes on Pension Payments

Delphi retirees might need to make quarterly estimated tax payments on income they’re beginning to receive from the federal Pension Benefit Guaranty Corp., the Ohio Department of Taxation said last week.

[Federal Housing Tax Credit] How To Use It and Save $$$…”Continued..Part 2

Question: What’s Socialism: Obama Returning the Clinton Tax Rates OR Bush & Paulson Nationalizing Wall Street Banks?

Answer: The Clinton Tax Rates did nothing to jeapordize the welfare of the Middle Class the way that the Bush special tax “incentives” which are running out in 2011 have done for the very rich.

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XM XDNX1V1 Onyx Dock and Play Radio with Car Kit (Black) $42.00 Bundle includes Onyx XMH10A Home kit…

The Complete Guide to Investing in Real Estate Tax Liens & Deeds: How to Earn High Rates of Return – Safely $10.97 Purchasing tax lien instruments from city, county, and municipal governments can provide you with very high and secure rates of return, in some cases as high as 12%, 18%, 24%, or even 1,000% or more per year. If performed correctly, investments in tax lien instruments will far outpace stock market performance, even traditional real estate investments. The key is to know how to perform this process…

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New tax to cut mine earnings, investment

A national resource rent tax threatens to drive billions of dollars in investment overseas and cut miners’ earnings by up to 15 per cent, analysts say.

Finding Rate

Question: Where can I get a copy of my W2 form so I can file my tax return early.?

My tax represenitive said I can probally get it online through the company who generates our paychex.Need to file early and not wait till they come in the mail.California

Answer: by federal law, your employer must provide it before february 1. if you need it in a hurry, go to the company web site, or telephone the payroll office by telephone. maybe they can fax it to you. in any case, contact them to make sure they have your mailing address.

good luck!

TurboTax Deluxe Federal + e-File + State 2010 – [Old Version] $5.75 The Intuit TurboTax Deluxe Tax Year 2010 Software walks you through over 350 deductions including mortgage interest, charitable contributions, education, medical expenses and more. Audit Risk Meter™ helps you reduce your chance of an audit. ItsDeductible® helps you accurately value charitable donated items. The Intuit TurboTax Deluxe Tax Year 2010 Software also guides you through changes…

TurboTax Premier Federal + E-file + State 2011 for PC [Download] $46.50 TurboTax Premier: Extra guidance for investments & rental property income…

H&R Block At Home 2010 Deluxe Federal + State + eFile [Download] [OLD VERSION] $15.12 H&R Block At Home Deluxe Ideal for Investors and Homeowners The right choice for customers with more complex tax situations to easily complete their federal and state returns. Includes the H&R Block tax expertise your customers trust–plus our Maximum Refund Guarantee. H&R Block At Home Deluxe includes everything your customers need to easily complete their federal and state taxes–with the tax e…

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Many options for free online preparation of tax returns

Taxpayers who file returns early are usually motivated by a desire to get refunds as quickly as possible, and that desire will be particularly strong this year. In more prosperous times, a big tax refund meant a trip to Disney World; these days, it’s a mortgage payment.

County Report Jan. 22nd

IRS tax tip: Help ‘en Español’

Tax information can be tough to understand in any language, but it can be even more difficult if it is not in your first language. To assist Spanish speaking taxpayers, the IRS provides a wide range of free products and services.