Feb 26, 2010

Frequently Asked Tax Questions and Answers

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Top Frequently Asked Questions

  1. What are the tax changes for this year?
  2. Is there an age limit on claiming my children as dependents?
  3. How much does an unmarried dependent student have to make before he or she has to file an income tax return?
  4. If I claim my daughter as a dependent because she is a full-time college student, can she claim herself as a dependent when she files her return?
  5. For head of household filing status, do you have to claim a child as a dependent to qualify?
  6. What is the American Recovery and Reinvestment Act (ARRA) of 2009?
  7. What should I do if I made a mistake on my federal return that I have already filed?
  8. What is a split refund?
  9. How do I know if I have to file quarterly individual estimated tax payments?

Frequently Asked Question Categories

  1. Filing Requirements/Status/Dependents/Exemptions
  2. Itemized Deductions/Standard Deductions
  3. Interest/Dividends/Other Types of Income
  4. Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.)
  5. Social Security Income
  6. Child Care Credit/Other Credits
  7. Earned Income Tax Credit
  8. Estimated Tax
  9. Capital Gains, Losses/Sale of Home
  10. Sale or Trade of Business, Depreciation, Rentals
  11. Small Business/Self-Employed/Other Business
  12. Aliens and U.S. Citizens Living Abroad
  13. Electronic Filing (e-file)
  14. Magnetic Media Filers
  15. Other (Alternative Minimum Tax, Estates, Trusts, Tax Shelters, State Tax Inquiries)
  16. Individual Retirement Arrangements (IRAs)

Additional Information

Highlights of Recent Tax Changes
Each year we update the answers to reflect the latest changes in tax regulations.

Additional Information by Tax Topics
These Tax Topics contain general individual and business tax information.

Additional Information by Tax Trails
Tax Trails is an interactive session which poses questions that you can answer by selection Yes or No.