Orange County Accountant

Can The Irs Take A United States Citizen’s Mexican Property To Pay Delinquent Federal Taxes?

admin — Fri, 26 Feb 2010 14:13:29 +0000

I am a 50 % owner of property in Mexico and my partner wants to buy my interest out. Will the IRS take my proceeds to pay my delinquent taxes?

Does The Irs Set A Reimbursement For Mileage On Company Owned Cars?

admin — Thu, 25 Feb 2010 13:31:08 +0000

I know the current IRS rate for personally owned cars used for business is 50cents/mile. I have a company owned car that I use and get reimbursed 17 cents/mile for business miles. Is that 17 cents a figure that the IRS sets or my company sets? I’m told that it is the IRS but now I am skeptical.

How Much Taxes & Late Fee Would You Pay If You Report $18,000 In Earned Income?

admin — Wed, 24 Feb 2010 14:13:02 +0000

Example if I did NOT file taxes for 2006 and I just now decided to file taxes for earned income of $18,000 as a 1099 form.
For the state of California. About how much money will I have to pay back in taxes and how much will I have to pay in late fees?

Can Your State Income Tax Be A Deduction On Your Federal Taxes?

admin — Tue, 23 Feb 2010 13:30:50 +0000

I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true?

How Do I Go About Filing Taxes If I Am Paid By Cash?

admin — Sun, 21 Feb 2010 15:06:57 +0000

I am going to start getting paid for housecleaning and childcare fo a woman and her children and she will be paying me by either cash or check. I want to be able to get financial aid so I would need to have an income tax return.
How can I file for taxes?
Is it a one time thing around tax time or do I need to pay taxes everytime I get paid?
I will not get paid much, and I have a child, would I have to pay a lot of taxes?

Will The Irs Intercept Your Tax Refund If You Owe Back Property Taxes?

admin — Tue, 16 Feb 2010 13:37:13 +0000

If we owe back property taxes for 2007 will our refund from the IRS be taken this year to help pay for the back taxes? Any info would be appreciated!!! Thank you.

How Does The Underpayment Of Irs Federal Income Tax Work?

admin — Mon, 08 Feb 2010 13:32:28 +0000

Say for instance that my 2006 taxes are fully paid.
Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars.
Will I owe the IRS a penalty for this?
Second senario.
Say that for 2006 my taxes are fully paid.
But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return.
Will I owe any penalty for underpaying before the deductions are accounted for?
Please let me know what my consequences are for both senarios.

I Have Paid State Taxes In More Than One State This Year. How Do Take Care Of The Situation?

admin — Sat, 06 Feb 2010 13:50:09 +0000

I have NM state taxes withheld from my pension. This year I also worked in CO and state taxes were withheld there. Will I have to pay state tax on the $ earned in CO in NM and will I have to try to recover that CO $ by filing a tax return in both NM and CO?

Can The Irs Hold A Husband Liable If His Alien Spouse Wins The Lottery In Her Foreign Country?

admin — Sat, 06 Feb 2010 13:50:04 +0000

Filipino spouse of American citizen retired and living in the Philippines wins lottery. Can the IRS assume the husband is liable for taxes on at least half of the winnings? What if the Filipino refuses to pay?

What Taxes Need To Be Paid On A Lawsuit Settlement?

admin — Fri, 05 Feb 2010 13:32:27 +0000

I need to come up with a figure regarding a settlement with an insurance company because of a permanent debilitating injury to myself. The question is about how much I should expect to pay in taxes. (If it matters, I live in the state of Pennsylvania, in Pittsburgh.)
If I am looking to have somewhere between $1 and $5million in my pocket (well, bank) after the lawyer gets 40%, what should I take into consideration for taxes? Are taxes paid before or after the lawyer?
What I’m looking for is pretty much “If you get $1 million, they would have to pay x, if you get $5 million, they would have to pay y, etc.”
Also, if you know anything about the subject, please let me know if you think that I’m asking for too much or too little. Pretty much I’m early 20s and this has ruined the rest of my life, I am in constant pain, need help to live, and am out of treatment options.
Thank you all so much! I know nothing and need help!