IRS Tax Return Tips and Tricks

My husband makes about 65k a year and has a child to claim as a dependant as well as depreciation from farm equipment etc. Last year he got a federal refund of about 2100. I only worked three months this year then drew unemployment. I have 2 kids that I get to claim on taxes. We didn’t get married until the very end of July so less than half the year we were married. Would it be better if we filed a joint reurn and claimed married with three kids or to file seperate and me file for the unearned income credit on my two. I ask because what we get back is going to be a big part of a down paymnet on our new house.

The illegal aliens enter the United States illegally, forge documents, steal American ID’s, drive without driver license and insurance, not show up for court dates. Harbor other illegal aliens, don’t pay child support, don’t pay federal taxes. Many return after being deported which is a felony.

Is this OK with you? Have you ever been in trouble and let go without a punishment or fine mulitple times like illegal aliens?
Just to get a job they have to forge documents which is felony.
Because your poor does it mean you can break the laws? Mexico is the 4th riches oil nation in the world. Because they don’t want to take care of their people they send to America to break our laws.

if you owe the irs $5500 in back taxes from your (year 2000) return and just filed them this past year, could they be dischargeable in bankruptcy court? this particular person grosses about $34,000 per year and pays $635 per month in child support, plus $530 per month in apartment rent, plus utilities, food and $45 per week in health care premiums. currenty the irs has him in ‘uncollectable’ status because of his financial situation. he also has old credit card debt.

Many people must pay an annual fee to check out library books. The places where the $150-$200 fee per year is required, are just the places where the economy is poor and people are unable to afford the fee.

Don’t you agree that all children,(at least) in America should have equal opportunity to read? Public service announcements serve no purpose if the families cannot afford books.

Celebrity figures telling us to read to children, need rather to be working to enable ALL communities whether large or small to have libraries and to make those libraries accessible to the surrounding area regardless of how political lines of demarcation are drawn.

Please educate yourselves, don’t make me tell yet another generation that, “I’m sorry but Big Bird and Reading Rainbow are wrong, we cannot check out books from the library in town.”

Yet large cities receive higher federal tax dollar return than rural communities. Now maybe you can begin to understand resentments. We all need.

when you file for earned income credit for federal tax return. do you pay this back? Why is it called credit

We own a duplex in California. We live in one part and rent about 1/3 of the property as a separate apt. On our federal taxes return, we take 1/3 of our property taxes and mortgage interest as rental expenses, and the remaining 2/3 as Schedule A deductions off our regular income. It is my understanding that this is the ordinary way of assigning these expenses and deductions.

With the expenses in Calif of mortgage interest and property taxes, we are showing a net loss on the rental income. However, as our adjusted gross income is over $150,000 we cannot take this passive loss against other non-passive income sources, so it is carried forward until we have a profit we can subtract it from.

My question is: can I take the entire mortgage interest and prop tax payments as personal income deductions, rather than rental expenses? That way I will see some immediate reduction in my taxes, versus some future tax reduction for my rental profits.

Is this “legal,” or even sensible?

Are property taxes paid via escrow closing costs tax deductible on federal tax return?

I have a defaulted loan.
It is over 10 years old
I contacted them and made a settlement
I paid the settlement
I then noticed a little part that says “If your account has been reduced by offset of any funds owed you by the federal bovernment, this settlement offer may be rescinded, and you will be required to pay the amount of any reduction caused by a reversal of that offset which is reported to us in the future.”

I have been having my tax returns withheld to pay the student loans which I believe would fall under that paragraph.

I called and they said that they are going to first send a letter to have the non-negotiated part deleted and then send a letter to me saying I am paid in full. I DID NOT mention the fact that I have had my tax returns garnished to pay the loan.

Should I worry that they are going to enforce me to pay the rest of the loan, or am I free and clear now.
If they do send me a release letter, and then later want to pay the non-negotiated part because my Taxes were garnished… will I have an obligation to pay (even though I have the release letter)?
Hope this question makes sense

I have received a settlement from a class action lawsuit. Do I have to claim this as income on Fed Tax return?

This Year, I have been taking care of my niece an nephew because there mother can’t take care of them right now , I heard its possible to add them as dependents,and i also hear that the “FEDS” will come down on me hard for that. What is the truth to all this. “Someone please Help a Brotha!”