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Posts Tagged ‘Year’

- good for me to get them paid off, but will my spouse still get his part of the stimulus package. He does not owe back taxes, we filed jointly for 2007. Thanks!

I am a single person and made about $45,000 this year. How much should I get back for my tax refund? I am claiming 1 and had about $9,000 taken out for taxes.

I calculated my earnings I will make for this year, so how much money will I get back in taxes?
I am going to make 28000 this year….
I am sooo curious….
Please and thankyou in advance!

My husband filed his taxes last year before we were married and said he never received his 2006 tax return. He spent almost a year in Iraq so he should have recieved all that tax money back since it’s suppose to be tax free. What should we do in order to get 2006 tax return?

My dad’s revenue streams were converted to trust about 5 years prior to his passing. It has been 5 years since his passing. Last year, we were audited for his estate. There was a finding that there was no revenue. This year, I received a notice that they want to audit for two years.ago They even replaced his first name with Deceased. What kind of government bureaucracy flags a $0 income estate that has been closed (previously proven by IRS audit) Also I am not the executor, nor the recipient of any of the trust money.
Has the IRS gotten that callous and unfeeling that live people are not enough for them? Who was the idiot who changed his first name to Deceased in the IRS records? They spent over $100 Million on new computers and software, yet they can’t determine that auditing closed estates over and over is counterproductive? First audit was 7 year audit, recent one is single year, 2005.

The legend of the brutal IRS audit is one we’ve all heard about. Somebody will one up by mentioning the friend of a friend who was audited two years in a row! So, is there any truth to this? How often can the IRS audit you?

The IRS uses tax audits for a couple of reasons. The first is simple. The IRS estimates there is a $345 billion dollar tax gap every year. This means we, the taxpayers, are shorting the agency on this amount. The tax audit is designed to try to close that gap. This is done by making individuals and businesses prove their deductions and such.

The second purpose of the tax audit is to “motivate” taxpayers to comply with the tax rules. Frankly, the IRS is happy you and I are terrified at the prospects of being audited. Why? Because we are much more likely to pay every penny we owe each year. Put another way, fear equals revenues!

Regardless of the purpose, is it true the IRS can audit you two years in a row? Unfortunately, the answer is yes. In fact, the agency can do it three, four and five years in a row. At this point, even the IRS will invoke a mercy rule. It has announced it will not audit a taxpayer on the same issue five years in a row. Of course, it could look at something else!

Isn’t that great news? Well, not really. Can you imagine being audited FIVE YEARS in a row. It is hard to imagine things getting much worse than that. While the IRS might let you go after five years, it is hard to imagine a scenario where you would come out in good shape. Even if you ended up owing nothing, you’re nerves would be frazzled beyond belief!