(1) Personal Income Tax FAQ's
1.2- What is a Refundable Tax Credit?
1.3- What is a Non-Refundable Tax Credit?
1.5- What is an Earned Income Tax Credit?
1.6- What is a Child and dependent Care Credit?
1.8- What is Child Tax Credit and Credit for Other Dependents?
1.9- What is Credit for Elderly or Disabled?
1.10- What is the American Opportunity Credit and Lifetime Learning Credit?
1.11- What is Residential Energy Efficient Property Credit?
1.12- What is Non-Business Energy Property Credit?
1.13- What is Low Income Housing Credit (for owners)?
1.15- What is Foreign Tax Credit?
1.16- What is Excess Social Security and RRTA Tax Withheld?
1.17- What is Credit for Tax on Undistributed Capital Gains?
1.18- What is nonrefundable credit for prior year minimum tax?
1.19- What is credit to Holders of Tax Credit Bonds?
1.20- What is Premium Tax Credit (Affordable Care Act)?
1.21- What is Health Coverage Tax Credit?
1.22- What are Employee Business Expenses?
1.23- What are Home Office Expenses?
1.24- What are Business Entertainment expenses?
1.25- What are Deductible Taxes?
1.26= What is the State and Local Tax deduction Limit?
1.27- What are Property Taxes and how is it claimed?
1.28- What are Real Estate Taxes and how are they claimed?
1.29- What is Sales tax and how is it claimed?
1.30- What are Charitable Contributions are how are they claimed?
1.31- What are Gambling Losses, what are the limits and how are they claimed?
1.32- What are Miscellaneous Expenses and how are they claimed?
1.33- What are Interest Expenses and how are they claimed?
1.34- What is a Home Mortgage Interest expense and how is it claimed?
1.35- What are Union/Club/Moving expenses and how are they claimed?
1.36- What is student loan interest and how is it claimed?
1.37- What are Work Related Educational expenses and how are they claimed?
1.38- What are Teacher Educational Expenses and how are they claimed?
1.39- What is the Deduction for a Sale of Home and how is it claimed?
1.40- What are Individual retirement Arrangements and how is the deduction Claimed?
1.41- What are Capital Losses and How are the Deductions Claimed?
1.42- What is Bad debt and how is the deduction claimed?
1.43- What Medical and dental Expenses can be deducted?
1.44- What is a "Health Saving Account" HSA and how is it deducted?
1.45- Is a Stock that became Worthless last year considered Bad Debt and how is it reported?
1.46- Is the Loss on the Sale of a Home Deductible?
1.47- If I receive a 1099-DIV showing a Capital Gain, is that amount reported on my Tax return although I never sold any shares?
1.48- How are the average basis calculated for Mutual Fund Shares?
1.49- Are there any taxes due on the additional stock I received due to stock split?
1.50- How do I report a form 1099-B received from my employer for selling a stock that was received under the Employee Stock Purchase Plan?
1.51- How is the cost basis figured for shares that were purchased during different times and different prices?
1.52- How is the Sale of a second home reported on a Tax Return?
1.53- Are the Proceeds received from the Sale of a Home to pay off the Mortgage Taxable?
1.54- How is the basis of a property calculated that was received as a gift?
1.55- If the gain from the sale of a principle residence is excluded this year, can the exclusion be claimed in the future for the sale of new principle residence?
1.56- What are the scenarios for excluding the gains from a property in case it was partially a principle residence and partially a rental property?
1.57- How is the Sale of a second property reported on the tax return?
1.58- How are reinvested dividends reported on a tax return?
1.59- How does the return of principle payments affect my cost basis in my mutual funds?
1.60- What is the Manufacturer's Energy Efficient Appliance Credit?
1.62- What is Plug-in Electric Drive Vehicle Credit (IRC 30D)?
1.63- What is Research credit?
1.64- What qualifies as Deductible Business credit including depreciation?
1.65- How is the IRS notified of an address change?
1.66- What is the age limit on claiming a child as a dependent?
1.67- What is the Income limit for an unmarried dependent student before he or she must file an Income Tax return?
1.68- Do I have to claim a child as a dependent to claim a Head of Household status?
1.69- If I make a mistake on a tax return and file it, how can I make the correction?
1.70- What is the meaning of a "Split Refund"?
1.71- Who should make quarterly estimated tax payments and in what amounts?
1.72- Does the IRS figure Tax and Credits for the Taxpeyers?
1.73- What should I do if my check to IRS for Tax payment does not clear?
1.74- What is a Private Letter Ruling and how do I receive One?
1.75- What should I do if I am unable to pay IRS delinquent Taxes?
1.76- What is the Interest and Penalties for filing and not paying IRS tax on time?
1.77- Can I get a copy of W2 from IRS?
1.78- What is the two month automatic extension for Tax filers filing a return from Overseas?
1.79- What is Injured Spouse Allocation?
1.80- How can I correct the spellings of my name with IRS?
1.81- Is there a need to change my name for "Married filing Jointly"?
1.82- If I change my name, how do I file a Tax Return?
1.83- If I update my name on my Social Security card and my W2 and or 1099 shows my old name, what should I do?
1.84- If I loose my refund check, can I receive a replacement check?
1.85- How do I find out if my Refund Check was cashed?
1.86- When fling a Joint Tax Return with spouse, can the refund be deposited in either filer's account or a Joint Account only?
1.87- What are the issues that can change the amount of my Tax Refund?
1.89- If I key in a wrong accout number or routing number on the return, can I fix it?
1.90- How canI collet child support from a non-custodial parent?
1.91- If someone files a return with my Social Security Number, how do I notify the IRS?
1.92- How do I file a deceased persons Tax Return?
1.93- Can the Employer provide a W@ electronically?
1.94- if I receive an incorrect W2 and my employer does not correct it, what should I do?
1.95- Are full time students exempt from Fderal Income Tax?
1.96- Whom can I claim as a dependent?