Tax refund

● Reporting component Today I completed 3 tax returns together with my partner Rebecca Graham. ● What are your most vivid first impressions of the VITA site? Describe the settings, people, actions and positive or negative feelings you had. As I entered VITA cite I was surprised how friendly the environment was. My first interaction was with 2 cite coordinators. They were really helpful and explained me everything. All the volunteers and cite coordinators were in the same room with a little space between tables. We had Publication 17 on each table. I was a bit worried in the beginning because I felt like it was going to be very different to actually do tax returns when the people are sitting in front of me rather than doing practice problems…

Based on exaggerated claims by the prosecutor, the jury returned a guilty verdict of filing a false tax return for the years 2003, 2004 and 2005. I claimed over 7 million of gross income on my taxes during those years. I didn’t claim 1.3 million of products I either lost money on or realized no profit. The D.O.J. treated that gross amount as profit and after changing the amount several times during the trial, the D.O.J. decided I owed $500,000. in additional income taxes. The I.R.S. couldn’t…

The South African treaty does not tax entertainers or sportsmen on income earned up to $7,500 unlike the US Treaty which does not tax them on income earned up to $20,000. However, this does not exempt them from withholding as it is not always certain that the earnings will be limited to the exempt threshold. The South African treaty also references the exemption of tax on income received from the government of the home state for performances in the other state. The United States limits the…

messy. This fact didn’t waver when it came to America’s fight towards freedom from an island all the way across the sea - Great Britain. The American revolution dug out the path towards independence that United States citizens possess and appreciate today. Those that fought in the revolution defended the colonists from a corrupt superpower and a money motivated king that would have taken America for its own to manipulate and abuse, making another society and culture people want to flee from.…

There 's a process that will determine how to do business and personal transactions for taxes. For forming your business there is a income tax consequence. To lower business expenses, you must be in a trade or business, which is an activity carried on for lividly hood or profit. The IRS is basically saying when you do a trade or business it must be for a economic profit, not just for tax savings. The tax year determines the time where your taxable income will be computed. All the income received…

Introduction The MacDonald family had a very well planned out and stable budget plan. One day, unexpectedly, Courtney MacDonald has lost her spouse due to a diving accident and it is now her responsibility to keep the family budget as stable at it was previously. Some of these responsibilities will include; compensating for the loss of income, revising their previous budget plan and continuing to plan for the unexpected future. Luckily, she and Ryan had planned ahead and she will receive…

some say in how their tax dollars are spent. Tax structure Taxation is perhaps one of the sectors most commonly debated by elected officials and the public. Contrary to common believe, people are not necessarily against taxes, however, most people desire for there to be a more just system of taxation in place. The middle-class and the working class desire tax fairness rather than being tax-free. According to the Tax Foundation’s survey on America attitude on taxation people are most…

most times completely unaware that I do it or that I 'm subconsciously sabotaging myself to defer whatever it is that I should be doing. To procrastinate is to delay or postpone action. Some might even use the word lazy to describe someone that has a habit of this. A procrastinator rarely ever does nothing but rather always doing something (little, tedious, time consuming, mostly unimportant things) to avoid doing the more important task that should to be getting completed. As I ponder about…

are not paying as much as they should be paying. There just getting richer and richer each and every day. This is proved by the CNN news article. They state, “Turns out, the rich really are getting richer. And they 'll soon own more than the rest of us put together.” This ultimately prove the fact that the wealthy are big money makers and can own some of us, which is breath-taking. •The poor and the middle class suffers from this injustice considering of the fact that, the rich are getting…

Filing the estate income tax return is a complex undertaking for the common executor. Fortunately, at the federal level, filing the estate income tax return is required only if the earned income after death reaches $600.00 or more. So, with proper planning, you could minimize the income earned by the estate after death and avoid the estate income tax entirely. According to the article Track the Estate Income, the four common types of income that keep earning after death are the following: 1.…