IRS Tax Return Tips and Tricks

Trying to do my own taxes with Turbo Tax but it only allows $674.22 cash back. How do I maximize my return?

Wages: $7052.59
Federal Income Tax Withheld: $674.22
Social Security Tax Withheld: $437.36
Medicare Tax Withheld: $102.26
Category 14 Other: CASDI $56.42

Also, State Income Tax: $109.87

I think it adds up to a 20% tax. I’m a full time student at a University and I have a college loan but I never paid any of the interest. I dont really have much in my life right now that I can deduct anything.

Am I just stuck with the $674.22 tax return? I was hoping to get mots or all of my withheld money back.

Thanks!

In the State of Ohio does a person have to claim their child support received as income on their tax return? What about the State of Michigan?

I didn’t file a MN return for 2005 because I didn’t pay state tax because I used to be considered a nonresident (Active Military). They changed the law in MN (my legal state of residence) and it appears I had a refund coming to me. Am I still able to file a 2005 state tax return this late and collect the refund? How long do you legally have to file if you don’t owe money or if you have a refund?

Hi, i collected unemployment in the state of Ohio for part of the year in 2006. I received my 1099G form from unemployment. (the equivilent of a W2 form) This lists my federal income tax withheld on it, but i dont see anywhere on it anything about state tax withheld. Does Ohios unemployment system hold out state tax on your unemployment check? I was able to fill out my federal return with no problem, but without knowing how much i paid in state tax (if any) im kinda lost on the state return. Im worried now that they didnt take any state tax out and im gonna have to pay it all now.
Has anyone here collected unemployment recently? If so how do you work this in on your state return?

where can i find a place online that does FREE state and federal tax returns?

My ex wife got addicted to drugs and I fought her for custody from Oct. 05′ to Aug. 06 for. In June of last year I didnt have cutsody through the court but I have the police reports that show I had my daughter and the reports stated not to give my daughter back to her because of safety reasons. In July, I got temp custody through the courts and August I got permanent with my ex having no visitation with my daughter. Although I had my daughter, I continued paying $140 a week child support until August. Now that I have custody, my ex hasnt paid the first penny in child support which Im not concerned about but she says she will claim her on her taxes. I havent kept her from my daughter but I make sure she has supervised visitation every other weekend with my daughters grandmother. I feel like I should have the right to claim her since I did pay my child support and I am also sole provider for her now. I pay her child care, schooling, medical and anything else she needs.

My ex wife got addicted to drugs and I fought her for custody from Oct. 05′ to Aug. 06 for. In June of last year I didnt have cutsody through the court but I have the police reports that show I had my daughter and the reports stated not to give my daughter back to her because of safety reasons. In July, I got temp custody through the courts and August I got permanent with my ex having no visitation with my daughter. Although I had my daughter, I continued paying $140 a week child support until August. Now that I have custody, my ex hasnt paid the first penny in child support which Im not concerned about but she says she will claim her on her taxes. I havent kept her from my daughter but I make sure she has supervised visitation every other weekend with my daughters grandmother. I feel like I should have the right to claim her since I did pay my child support and I am also sole provider for her now. I pay her child care, schooling, medical and anything else she needs.

He is in jail over 4.5 hours away from me and about to be sent to State Jail even further away. I don’t have a car or a ride to go get his signature. I had to go back to work to support our 3 children. We desperately need the tax return. He made most (90%) of our income last year and paid in around $10,000 in taxes and we anticipate around $5,000 back. I am thinking I may be able to E-FILE with electronic signatures and have his permission to do whatever it takes. I wonder though is it LEGAL for me to do electronic signature on his behalf?

To save on my US tax return
If I invest say 4000 in IRA now, than I get a deduction of same amount in my tax returns. So effectively as per my tax bracket I save {15% federal and 6% state tax = 21% total saving which will be around $800 savings}..

Now assume I go back to my country and break the IRA in some year when my USA income is zero. So I pay no income tax since I will fall under the limit of {standard deduction + exemption}.
The only thing I pay is 10% penalty which will be around $400.

So effectively I saved $800 – $400 = $400 by investing in to IRA and breaking it when going back.

So my question is that is this calculation correct ?? or
I will not save this amount ??

Pls advice. ??

Hi everyone. I e-filed my tax return last night via taxact.com. My taxes are fairly simple since I just use the standardized deduction. Anyway, today I received a 1099-INT from from bank of america for $27.62. I was honestly surprised by it. I plugged the $27.62 into my original return on taxact and it reduced my federal refund about $13 and my state refund about $1, but I already submitted my return electronically last night. I don’t want to get in trouble with the IRS so what do I do now? Thanks in advance.