From: About.com Home Business
The Internal Revenue Service (IRS) has reported that unclaimed
refunds totaling more than $1.3 billion are awaiting nearly 1.4
million people who did not file a federal income tax return for
2006. The IRS estimates that the median unclaimed refund for
tax-year 2006 is $604. The reasons the refunds are going unclaimed
is because these taxpayers didn't file a return for their 2006
taxes thinking they earned too little to owe any tax. However, many
of those who didn't file had taxes withheld from their pay or made
estimated tax payments for that tax year. By law, if no return is
filed to claim the refund within three years, the money becomes the
property of the U.S. Treasury. That means, in order to collect the
money, a return for 2006 must be filed with the IRS no later than
Thursday, April ...
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Estimated Tax Payment Due this Week
The fourth and final estimated tax payment for tax year 2009 is due
Friday, January 15th, 2010. If you are self-employed or otherwise
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be postmarked by midnight Friday to avoid penalties for late
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payment and will not incur penalties as long as you file and pay
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Checking Your Tax Refund Status
If you're one of the lucky ones who are getting an income tax
refund this year, you can track your refund status online directly
with the IRS. The IRS cautions you NOT to try to track the status
of your tax refund with any links or offers you get in your email.
The IRS is NOT going to send you an email, and it's a perfect
opportunity for scammers to try to get your social security number
and other private information about you so they can steal your
identity. The URL for tracking your tax refund status online is:
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No 1099? You Still Need to Report the Income
A reader commented on my post about the deadline for tax form 1099
MISC: I worked part time for a Realtor. He paid me very
sporadically and did not withhold any taxes. I have asked him
directly and he is going to claim me as contract labor, but I have
yet to receive a 1099. Since I know the amount I received, should I
go ahead and claim this...? My answer is, whether you receive a
1099 from an employer or not, you are still required to report the
income. You don't attach copies of your 1099MISC with your return
anyway so your return is not incomplete. And no, in and of itself
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1099? You Still Need to Report the Income originally appeared on
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Cell Phone Dead? Buy A Charge
Paul King was headed to the airport in Pittsburgh in 2006 when he
suffered an ill-timed communications blackout. His cell phone died
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1099-MISC IRS Forms Coming Due
It's that time of year again when people start name-dropping IRS
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calls "Information Returns". There are two basic reasons why
self-employed or freelance individuals should know about IRS form
1099-MISC. If you worked as an independent contractor or
freelancer, or were otherwise self-employed (unless you operated as
a corporation) during tax year 2009, you should be receiving 1099s
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contractor or freelancer, or during the operation of your own
business - regardless of whether you operate as a sole proprietor,
LLC or corporation, you are required to provide completed 1099-MISC
forms to any independent ...
