The Federal Tax Credits Blog

Posts Tagged ‘income’

Penn Virginia Resource Partners, L.P. Announces First Quarter Results and Increases Cash Distribution

Penn Virginia Resource Partners, L.P. today reported financial and operational results for the three months ended March 31, 2011. Â In addition, PVR announced a 2.1% increase in the quarterly cash distribution and updated its guidance for the full year 2011.

Administrator Peter Rogoff: “Next Stop: A National Summit on the Future of Transit”

Question: A question for Canadian tax pro’s! New baby and single!?

My daughter was born in October and either me or my ex is going to claim her on our taxes. We still get along great and he even stays with us from time to time. He is a great and supportive daddy and is always there for us and does his best to make sure we have everything we need, We are in the process of trying to work things out but for now it is purely platonic and we are just friends. I was thinking of allowing him to claim her this year and next year I claim her and so on and such forth. My only issue is that I claim her for child tax credit and the Universal benifit as well and get monthly payments from them for her. Will this be an issue if he claims her this year? Is this even allowed? We are not common law or anything at this point so I don’t know if they would make a big stink about that either. Please as much advice and knowledge you can give would be greatly appreciated!!

Answer: Because the child lived with you during the year, the father is not eligible to claim the credit. However, if you want him to receive the benefit of the claim, you can just write him a cheque for $305.70 as this is the amount that he would have saved on his taxes if he were eligible to make the claim.

You should also be claiming the “amount for an eligible dependent” tax credit from line 305 on schedule 1.

It should also be pointed out that in order to get any benefit from these tax credits your taxable income for 2008 has to be more than $9,600, otherwise your income will be too low to be able to make use of the credits.

For Members

My name is Charles Donovan. I am Senior Research Fellow at The Heritage Foundation. The views I express in this testimony are my own and should not be construed as representing any official position of The Heritage Foundation.

China’s One-Child Policy Comes To Western Countries

Singlatary: IRS audit shows need for simpler tax code

Aside from long waits to get tax questions answered, a decent but not great accuracy rate in the preparation of some returns by volunteer tax preparers and insufficient quality controls that could lead to fraudulent refunds, the Internal Revenue Service did a pretty good job this tax season.

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

Question: Did you think the Patriot Act was Bad?

Post online comment? Feds want your name.

A federal prosecutor in Nevada is trying to get the names, telephone numbers, IP addresses and possibly even the credit card numbers of newspaper readers who participated in a forum about a tax protest case.

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=101348

Even the ACLU is up in arms about it.

“In the ACLU of Nevada’s view, the subpoena violates the important First Amendment rights of anonymous commenters. We at the ACLU of Nevada have always fought for the fundamental right to engage in anonymous political speech and we want to protect the rights of anonymous commenters.”
Seems nobody read the thread and missed the point, you all complain about the Patriot act and how bad it is yet you’re willing to let 0bama delve into your private life and find out who you are, where you are and haul you before the courts if he doesn’t like what you’re saying…WAKE UP EVERYONE.

Answer: I despise the patriot act! It disgusts me to no end that the federal government monitors what I read.

BRIEFLY: April 9

Read about what’s happening in and around Plymouth.

Sage Peachtree Complete Accounting 2011 [OLD VERSION] $16.00 Sage Peachtree Complete Accounting 2011 helps you work more easily and efficiently with robust core accounting and added features like job costing time and billing in-depth inventory capabilities and analysis tools. Its multi-user option* helps improve productivity while providing screen-level security and a clear audit trail. Save time with simplified dashboards management centers integration wit…

Quicken Starter Edition 2012 $29.99 Quicken Starter Edition Personal Finance Software Simplify and organize your money Organizes your bank and credit cards in one place so you know where you standSafely and securely imports all of your financial information so you don’t have to enter them manually Automatically categorizes expenses so you can see where you are spending and where you can save Alerts you to upcoming bills so you can a…

Quicken Premier 2011 – [Old Version] $31.99 The Intuit Quicken 2011 Premier Software organizes all your accounts – bank, credit card, investments, loans, retirement accounts – in one place. Intuit Quicken 2011 Premier Software helps you simplify and organize your finances so you can save more,, maximize investments and grow your net worth….

Alaska Reality Shows Get Sarah Palin Socialist Tax Credits

Question: DOES ANYONE HAVE A PHONE NUMBER FOR THE IRS?

I am needing a phone number for the irs to actually speak to a live person about my tax credit can anyone help me with this?

Answer: The main number is (800)829-1040. You may also have a local IRS office near you. This page has a link to a list of local offices:

http://www.irs.gov/help/article/0,,id=96730,00.html

Jobless face complications at tax time

The unemployed have to pay full taxes on their unemployment benefits in 2010, unlike 2009 when the first $2,400 was tax-free.

NeatReceipts Scanalizer Professional 2.5 Mobile Scanner and Software $165.99 Amazon.com Product Description Please note: A 3.0 software upgrade for the NeatReceipts Scanalizer will be released on October 15, 2007. You may purchase the software upgrade at the NeatReceipts website: Neatreceipts.com/Upgrade NeatReceipts Version 2.5 Professional is the easiest way for individuals and small businesses to manage expenses, prepare for taxes, create expense reports, and scan busin…

TurboTax Home & Business Federal + e-File + State 2010 – [Old Version] $7.99 Designed for sole proprietors, self-employed, consultants, 1099 contractors, and single-owner LLCs. Expanded interview walks you through entering business income and expenses to help you maximize business and personal deductions, home office deductions, depreciation and more. Create W-2 and 1099-MISC forms for your employees and contractors. The Intuit TurboTax Home & Business Tax Year 2010 Softwa…

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

TurboTax Basic Federal + e-File 2010 – [Old Version] $4.99 TurboTax Basic was designed to make doing your simple taxes easy, by guiding you step by step through your federal tax return. TurboTax guarantees its calculations are 100% accurate, or you’ll be paid any IRS penalties plus interest. TurboTax also double checks your return to help you get the deductions and credits you deserve. Everything you need to easily do your simple tax return. Does th…

TUTORIAL Part 2: Get a PTIN