Q:Will I Get A Tax Refund If I Collected Unemployment?
A: Over the past few years the poor economy has led to many people losing their jobs and having to depend on governmental programs, such as unemployment, to pay their bills. While people on unemployment may not think they are required to pay taxes, all are required to do so and some may even get a return.
Q: Who Can I Claim As A Dependent On My Income Tax?
A: When you claim someone as a dependent on your taxes, you are stating to the I.R.S. that you supported this person financially during the tax year. Each dependent that you claim will give you a personal exemption such as child tax credit, and earned income credit. If someone is not married, they will also be able to file as head of household if they have at least one dependent to claim. Your tax preparer can always give you the information you need to know if someone qualifies as a dependent or not, but with the information you are about to read, you will not have to ask them “Who can I claim as a dependent on my income tax?” because you will already know.
Q: Will I Get A Tax Refund If I Didn’t Work?
A: There are a lot of people who are looking for a good tax refund. You can end up getting a lot of help from a hired tax consultant getting a good tax refund. If you do not happen to work, the truth of the matter is that you will not get a tax refund if you do not work. People who live off capital gains income are technically working due to the fact that they can gain a high amount of income in the process. You do want to work with a tax consultant who ends up helping.
Q: How Far Back Can The IRS Audit You?
A: The IRS is one of those government organizations that most people really don’t want to have to deal with, especially if the word audit is involved. It is important to note that just because you are being audited doesn’t mean that you’ve actually done anything wrong. In fact, it is common for them to randomly select people to be audited in various ways. This practice has become very popular in recent years and many people need to know how far back can the IRS audit you?