Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. The IRS charges taxes on certain gifts that people make during the year. Learn about the IRS rules for Gift Tax with help from TurboTax in th
Corporations pay income taxes too. Most corporations file their returns using Form 1120 or a version of it. Other forms exist that relate to other types of federal taxes, such as an estate and gift tax return. Schedules and attachments to IRS forms ...
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Even though you might have to file Form 709 with the IRS (say, for example, you give a friend a $15,000 cash gift), that doesn't necessarily mean you have to pay the gift tax. In addition to the annual gift exclusion of $13,000, there is also a lifetime exclusion for gifts. T...
The scammers tacked on additional fees they claimed she owed. In all, she handed over $7,900 in gift cards for Target and iTunes. During the ordeal, her father could only helplessly watch as the fraud alerts rolled in. “As a dad, a parent, not to be able to help to help your ...
Gift Taxes Excise Taxes (alcohol, gas, hotels, airline tickets, etc.) Import Taxes Like it or not, taxes—and a lot of them—are an aspect of every facet of our financial life, from being born (as a deduction on our parent’s income tax returns), purchasing the goods and services we...
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If you accept credit card payments online, you may have to report payments that you receive from credit card or third-party processors on your 1099-K forms.