Tax Time Means Tax Questions

When it comes to tax questions free solutions will generally be a good route to go. But in connection with that, you need to ensure that your tax question is answered correctly as well. That is because there are a series of legal aspects that come into play when you are paying your taxes.

For example Tax Information for Students consider a multitude of possibilities. To get a better understanding, it will be important that you take a moment to look at some of the most common tax questions asked.

Tax Time Means Tax Questions
Since I Pay Child Support, Can I Claim My Children As A Tax Exemption?

The answer to this question is maybe. Depending on how your court order was written, it will be possible to claim your children for a tax exemption. Normally, you will be required to have your child support up to date as part of a stipulation of this credit. In some cases, court orders are done to reflect that children in these cases can be claimed every other year instead of every year.

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If I Just Got Married, How Should I File?

With most tax questions free advice seems to be very limited in their answers. That won’t be the case with this tax question as it goes beyond telling you to simply, file jointly. You will need to take a couple of different items into consideration. For example, if the person you are filing with owes taxes, has medical expenses, is self employed or a series of other items, you will want to be sure that you avoid filing jointly. This not only keeps you out of any potential headaches, but will also give you a chance to make a clean start the following year you both are married.
If I Own A Home, Do I Get A Tax Break?

The answer to this tax question is yes. But what you need to know is that you can get up to $7,500. The dollar amount is the maximum amount of credit based on interest payments and takes other factors into consideration. Typically, the total dollar amount will be 10% of the purchase price. But, your home would have had to of been purchased by April 2010.

I Owe the IRS Money From Last Year, But Need My Return. Will They Cut Me A Check?

Regardless of your need for funding, if you owe the IRS money it will be deducted from your return. So if you owe $500 and your return is for $1,500, your check will be $1,000. If your return doesn’t cover the past due portions, you will still be legally obligated to pay those old debts that continue to have interest attached to them.

How Long Can I Claim My Child?

Many tax questions free or otherwise typically will touch on this topic. This is because this tax question can be a difficult one to understand. To put it into perspective, you will need to look at the basics of the law.

This child must be an actually dependent of you as determined by the legal system. Either a natural child, sibling or descendant that requires your care. In addition to that, they must be under 19 during the year that you are filing for and in some cases can be 24 as long as they are younger than you, a full time student and are still considered dependant. During this time, they need to have lived with you for over half a year and are not filing their own tax returns. If this child meets all of these stipulations and you are legally entitled to claim them on your taxes, then you may do so.

A Family Member Had Died This Year, Do They Need To Pay Taxes?

Oddly enough, this is a common tax question. The answer is that their estate will need to pay their taxes for the year that they died. But it will not be based on a full year. Instead, their tax obligation will cover January 1 until the day of their death. Of course, you will want to check with your accountant to get more information on this particular question as there are factors based on estate value such as being over 2 million dollars and similar aspects that may come up.

What Happens If I Choose Not To Pay My Taxes?

Sometimes when people are looking at tax questions free or otherwise they will choose to decide that they are not going to pay taxes in general. What you will find that you can face a number of penalties for choosing not to pay your taxes. These items include liens against your property, asset seizures and in some cases you might even find that you can be placed in prison. Although, the latter typically occurs in more severe cases, though you will want to ensure you continue to pay your taxes and keep yourself legal at all times.

If I Do Not Owe On Federal Taxes, Will I Need To Pay Any Other Taxes?

For this tax question, you will find that the answer is yes. Even if you do not owe money to the federal government, you will still be required to pay Medicare, Social Security and other taxes that are assessed to each individual, even when there are no federal taxes owed. Because of this, you will want to consult with your local accountant to ensure that they can touch on your tax questions free of charge, or find a reliable website that provides you with superior information as well.


Tax Questions Free is Not intended for legal advice of any kind, Tax or otherwise. Please consult your own professional of your choice!

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