The IRS Audit Blog

Posts Tagged ‘irs’

How do I separate the emotions of selling a home?

Question: Is a California Guaranteed Student Loan subject to a Statute of Limitations?

I’m being harassed for a student loan that is from 1987. The IRS has never attached my tax returns or garnished my wages. Is this debt legitimate?

Answer: All GSLs (guaranteed student loans) are arms of the FFELP (federally funded) and thus have no statute of limitations.

Section 484A(a) of the Higher Education Action provides that no statute of limitations bars enforcement action to collect Federal student loans, including collection by offset, lawsuit, or enforcement on student loan judgments. 20 U.S.C. § 1091a(a). State law that would otherwise limit these actions is superseded by Federal law and cannot bar collection action.

Bill would help youth identity theft victims

(AP:CARSON CITY, Nev.) By the time Carlos Hernandez turned 18, little did he know his credit was trashed. Since the age of 9, he had obtained a mortgage, bought cars, obtained credit cards _ and racked up loads debt. He had a criminal record, too _ not his own _ which kept him out of the Navy.

Do IRS Problems go on forever?

Question: What IRS form do I use?

I was wondering what type of form do i use to file my taxes if I am a college student that had like 2 jobs, well three but i never really recieved a check for that job. Do I use the 1040 EZ like I did in high school or do I have to move on to the 1040?

Answer: Bostonianinmo has it pretty nailed.

I would add that so long as you receive W-2′s, it’s easy. If you get a 1099 for the one job, you can just let it go, but you may want to consider a complaint against that employer. It is likely you are being cheated by the employer pretending you were not legally an employee and making you pay both halves of the social security taxes. I might add they almost certainly cheated you with unemployment and workers’ comp then too. That all is, of course, if they 1099 you.

But if you meant that you never actually got paid by them, then they don’t matter, this year. If you ever do receive the wages, they matter the year you receive them, not this year.

With the exception of complications like that, the 1040EZ vs. 1040A or 1040 question is really more about ease of filing vs. do you have any deductions you think could noticeably reduce your tax. One year, you might want to fill out all three or at least the 1040 and compare for which gets the most back (or owes the least…) and was it worth the effort?

For instance, this year the sales tax deduction will apply again. Nobody thinks much of it, but it has an interesting aspect if you bought something with a big sales tax on it like a car. Not only do you get the entire deduction anyone else in your state would get, but you also get to add in the entire sales tax you paid. So a deduction of, say, $250 might jump up to $1,250 when your car’s sales tax is added in. That could seriously affect your refund any year you buy a car in, assuming the deduction is made permanent.

Easy is nice, more money back is nicer!

Small-business owners can brush up on taxes

Find out which form to use, the difference between deductions and credits, and more Changes may affect some pension checks

1040 form

Question: “Where’s My Stimulus” on irs.gov states my refund will be deposited on 5/9. Could it deposit sooner?

I am just curious. I am trying to get an idea of when it might deposit…will be be on the 9th, or could it be Tuesday or Wednesday. 5/6 or 5/7? Thanks!
Thanks to all…I’m just happy I have some idea as to when it’s coming now! Good luck to all of you still waiting!

Answer: It could be earlier this week, but most of them won’t be until Friday.

Cash that costs

After a month spent push-starting their ’91 Suzuki Sidekick in the rains of winter, Heather Epp and her boyfriend, Jack, could see an answer to their problems: A tax refund anticipation loan, which they hoped would let them get their hands on their refund money in a day or two …

Tax Tip: Where’s My Refund?

Question: Common Law Marriage In Texas & Taxes — Help!!?

I live in TX which recognizes common law marriage. I was common law married to my husband (lets say husband #1) for 5 years when I met some other guy who I unfortunately had a fling with…

The new guy told me my marriage wouldnt matter if husband #1 didnt know because of a 2 year statute of limitations, and he convinced me to marry HIM “formally”. Now, #2 didnt work out. We only “married” for 2 months and split up (fling). Now I am back living with #1, and #2 is filing for a formal divorce. And from a legal standpoint I beleive Im still common law married to #1 (with whom i currently reside) and I dont know what to do…

and just for the record, my common law marriage to #1 can be proved from witnesses, 5 years or IRS tax records (as married), joint accounts, etc.

my total time seperated from #1 was ONLY one year, which means the statute of limitations didnt lapse either. Now, should i file my taxes this year as married to #1? What about this divorce from #2?

Help!!!

Answer: Just get an annulment and get it because you were told that #1 is your legal spouse.Ignorance is not excepted by the law.Get an annulment NOW.

Are You Eligible For Some of The $37.5 Million in Unclaimed Taxes?

People who did not file in 2007 could get money back.

Statute of Limitations