| Q: |
How can I find out my refund status? |
| A: |
You can check the status of your refund on the IRS website. |
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| Q: |
Can I file my tax return if I didn't receive my W-2 from my employer? |
| A: |
Yes you can. After January 31st, you can use the last paystub in December of the year that you want to file, along with Form 4852. |
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| Q: |
What should I do if I can't pay my taxes? |
| A: |
You have several options available to you:
- Currently Non-Collectible Status (or CNC): you may qualify if your monthly income is less than your monthly living expenses. To determine whether or not you may qualify for CNC status, our firm will gather recent financial
history to prove to the IRS that your monthly expenses are greater than your monthly income, which makes you unable to pay.
- An Installment Plan: payment of your debt over a period of months or years.
- An Offer In Compromise: payment of only a portion of what you owe in one lump sum.
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| Q: |
How do I know if I have to file quarterly individual estimated tax payments? |
| A: |
You must make estimated tax payments for the current tax year if both of the following apply:
- You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.
- 100% of the tax shown on your prior year's tax return. (Your prior year tax return must cover all 12 months.)
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| Q: |
I owe taxes that have nothing to do with my present spouse; can they seize his or her assets to satisfy those tax debts? |
| A: |
No, but in determining whether to accept an Offer in Compromise or in evaluating a proposed installment agreement, the IRS insists on knowing everything about the spouse's assets, liabilities and monthly income.
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| Q: |
If my spouse owes back taxes from before our marriage, will the IRS take my tax refund every year? |
| A: |
No if you filed IRS Form 8379. If you do not complete Form 8379 when you file your joint tax return, the IRS will most likely keep the entire refund to pay down your spouse's back taxes. Some people also try to solve this problem
by filing as Married, Filing Separate. If you choose this solution, you will receive your refund. However, you may give up some important tax advantages. You should probably consult with a qualified tax preparer before making the
decision to file separate returns.
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| Q: |
What happens if you just ignore the income received on a 1099 form? |
| A: |
That's called tax evasion. At the very least, you will be subject to penalties and interest for any unpaid taxes in addition to the original tax. Worst-case scenario, you can be convicted of a felony and a conviction can carry a
prison sentence of up to five years.
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| Q: |
What about tax preparation software? Doesn't that just fill in the blanks? |
| A: |
Software programs are great tools, but I would not rely on them as an authority on taxes. Folks with various levels of skill can use the same tools with unequal results. There are many questions subject to interpretation.
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| Q: |
Can I receive a tax refund if I am currently in a payment plan for prior year's federal taxes? |
| A: |
As a condition of your agreement, any refund due you in a future year will be applied against the amount you owe. |
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| Q: |
What is a split refund? |
| A: |
A split refund lets you divide your refund, in any proportion you want, and direct deposit the funds in up to three different accounts with U.S. financial institutions. |
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| Q: |
How do I order my tax transcript ? |
| A: |
You can now order your tax return or account transcript online. Your transcript will be mailed to you within 5 to 10 calendar days. |
