OT: US Federal tax question (a bit long, but HELP!)

OT: US Federal tax question (a bit long, but HELP!)

Post by Julia in M » Wed, 11 Feb 2009 23:48:53



If you underpaid your taxes last year as a result of the error, you may
have to pay a penalty in addition to the additional taxes. The longer
you wait to file the amended return, the bigger the penalty you will
pay. It's best to get it done as quickly as is reasonable, if for no
other reason than to get it out of your mind.

Julia in MN

Quote:

> Just go to the nearest tax office----you probably could ask someone at the
> school or city government where it is--and go there to get someone to help
> you in just a few minutes.  Be sure to take your copy of you 2008 AND 2007
> taxes with you.   That way, you know things are correct.  If it were me, I
> would go within the next 4 or 5 months, or after the April 15th rush,  but
> yes, you have a couple of years to do it.  Go early in the morning so you
> won't have to wait in line so long.  When you go in the door they have one
> of those "take a number" and wait things.  For them, this isn't a big deal.
> Also, there are volunteers at the local library to help you---they are there
> to help low income and retired people--- but they probably won't have the
> ammended form and you will need to take 2 of them, one for each year.
> Barbara in FL who used to work with the Block people

--
-----------
This message has been scanned for viruses by Norton Anti-Virus
<http://webpages.charter.net/jaccola/>
-----------
 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by Hanne Gottliebse » Thu, 12 Feb 2009 02:19:05


My favorite IRS story is about the year (2005, I believe) where they
didn't publish the booklet about the non-resident alien taxes until
_after_ the deadline for filing. I thought that was really kind of them.
My taxes were simple, I was overseas with no access to an office to go
ask anyone, I knew I could do it with the booklet and the form, but no
booklet. Eventually, someone gave me the numbers (deductions etc) and
told me to otherwise use the booklet from the previous year (which I
still had).

I'd second the people who said go to the tax office to ask. I did that
once (for a "sailing permit", no less!) and everything was very smooth.

Hanne

Quote:


>> Hey, all!  I've been lurking for awhile, since teaching takes up an
>> inordinate amount of time and what little free time I have has been spent
>> learning to play the harp, my favorite instrument.  I always pop in every
>> few days to see what's going on, though, and laugh with Polly, Leslie, and
>> the rest of you all.  It's so nice to peek in and find friendly folks.

>> So here's my dilemma:  I finished grad school in May of 2008 with my degree.
>> That means I paid tuition to a qualifying educational institution in 2008
>> and can claim the lifetime learning credit.  That school did, in fact, send
>> me a 1098-T form declaring a certain amount was paid.  I used the amount
>> listed on that form to do my federal taxes, which I mailed last Monday.

>> NOW, however, the school has sent an email telling us that the 1098-T they
>> sent was wrong, and that they had mistakenly already put that 2008 amount on
>> our 2007 1098-T forms, so we already declared it as a deduction last year.

>> I know I have to file an amended return. But how long do I have? The IRS
>> website says three years, two years, or until April 15, but the forms all
>> seem to discuss amending the 2007 return.

>> I've never lied on my taxes and have prided myself on doing them without
>> having to call in a tax professional.  But this fiasco has shaken me up. I'm
>> furious at the school for causing me to lose out on the refund amount I had
>> originally figured (and budgeted for).

>> Sorry for bringing this decidedly boring topic to the quilting frame, but
>> I'm at a loss and you all are always so helpful, I figured I'd try here
>> first!

>> Anastasia

>> --who could spit nails at the University of Missouri at St. Louis right now.

> Anastasia - I'm no expert by any means but have been doing our taxes
> for many moons now - some not very easy.  You can download the 1040
> admendment form from the IRS site, make the corrections and be on your
> way.  I would do it sooner rather than later.  Depending on your
> income for last year, the refund you may get from last year's amended
> return may offset the up-charge you have on this year's return - ya
> just never know.  Or, you could just wait.  When the IRS gets the
> revised 1098 amount, they will re-calculate your taxes for the current
> year.  They may/may not re-calculate for last year.  I'd just do the
> amended return and call it a day.

> I'm a little less generous than Sunny in my opinion of the IRS -
> instead of likening them to Las Vegas, I refer to them as their own
> Gestapo.  The only rules/laws they need to follow are their own.  I
> have a very healthy fear of them.  But I've made plenty of mistakes
> with ours over the years (from simple arithmetic errors to not putting
> amounts in the correct spots - cuz as somone else said - you get
> different answers from different people even at the IRS) and as long
> as you pay them what they say you owe - no big deal.

> Good luck!

> Kim in NJ
> waiting not very patiently for DH's family business taxes to be
> completed so I can do our personal taxes!


 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by amy in CN » Thu, 12 Feb 2009 02:46:53


Anastasia,
sorry, i cant be any use to you...i've got people....H & R Block...i
would ask them..
amy in CNY
 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by Pat in Virgini » Fri, 13 Feb 2009 01:54:02


Can't answer your question, but I do think that ALL affected students should
DEMAND an official letter of explanation, (a mea culpa as it were) written
on official stationary, hand signed by the appropriate university official,
and notarized. If the school refuses, take up the matter with your state
delegates or state senators, or even the Governor.

This letter could then be used as evidence that the student is not to blame
for this mix-up. Would this be an inconvenience for the school? Sure, but
all businesses, institutions, and individuals need to own up to their
mistakes. Good luck.
PAT


Quote:
> Hey, all!  I've been lurking for awhile, since teaching takes up an
> inordinate amount of time and what little free time I have has been spent
> learning to play the harp, my favorite instrument.  I always pop in every
> few days to see what's going on, though, and laugh with Polly, Leslie, and
> the rest of you all.  It's so nice to peek in and find friendly folks.

> So here's my dilemma:  I finished grad school in May of 2008 with my
> degree. That means I paid tuition to a qualifying educational institution
> in 2008 and can claim the lifetime learning credit.  That school did, in
> fact, send me a 1098-T form declaring a certain amount was paid.  I used
> the amount listed on that form to do my federal taxes, which I mailed last
> Monday.

> NOW, however, the school has sent an email telling us that the 1098-T they
> sent was wrong, and that they had mistakenly already put that 2008 amount
> on our 2007 1098-T forms, so we already declared it as a deduction last
> year.

> I know I have to file an amended return. But how long do I have? The IRS
> website says three years, two years, or until April 15, but the forms all
> seem to discuss amending the 2007 return.

> I've never lied on my taxes and have prided myself on doing them without
> having to call in a tax professional.  But this fiasco has shaken me up.
> I'm furious at the school for causing me to lose out on the refund amount
> I had originally figured (and budgeted for).

> Sorry for bringing this decidedly boring topic to the quilting frame, but
> I'm at a loss and you all are always so helpful, I figured I'd try here
> first!

> Anastasia

> --who could spit nails at the University of Missouri at St. Louis right
> now.

 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by Pat in Virgini » Fri, 13 Feb 2009 01:55:55


So, it was smooth sailing after that, eh Hanne?
PAT


Quote:
> My favorite IRS story is about the year (2005, I believe) where they
> didn't publish the booklet about the non-resident alien taxes until
> _after_ the deadline for filing. I thought that was really kind of them.
> My taxes were simple, I was overseas with no access to an office to go ask
> anyone, I knew I could do it with the booklet and the form, but no
> booklet. Eventually, someone gave me the numbers (deductions etc) and told
> me to otherwise use the booklet from the previous year (which I still
> had).

> I'd second the people who said go to the tax office to ask. I did that
> once (for a "sailing permit", no less!) and everything was very smooth.

 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by Hanne Gottliebse » Fri, 13 Feb 2009 02:07:34


No-one ever asked to see my sailing permit, and really, how could anyone
at the airport when leaving tell the difference between going overseas
for holiday and moving out of the US?

Technically, non-US citizens who are liable for tax-returns in the US
need a sailing permit _every_ time they leave the country. I was never
once asked for one. Probably no-one employed at any airport knows this
anyway.

And I left by plane :-)

Hanne

Quote:

> So, it was smooth sailing after that, eh Hanne?
> PAT



>> My favorite IRS story is about the year (2005, I believe) where they
>> didn't publish the booklet about the non-resident alien taxes until
>> _after_ the deadline for filing. I thought that was really kind of them.
>> My taxes were simple, I was overseas with no access to an office to go ask
>> anyone, I knew I could do it with the booklet and the form, but no
>> booklet. Eventually, someone gave me the numbers (deductions etc) and told
>> me to otherwise use the booklet from the previous year (which I still
>> had).

>> I'd second the people who said go to the tax office to ask. I did that
>> once (for a "sailing permit", no less!) and everything was very smooth.

 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by jeanne-nzlstar » Fri, 13 Feb 2009 06:28:00


sailing permit????
they dont have a form for non resident citizens there tho. argh.
j.

Quote:
"Hanne Gottliebsen" wrote...

No-one ever asked to see my sailing permit, and really, how could anyone
at the airport when leaving tell the difference between going overseas
for holiday and moving out of the US?

Technically, non-US citizens who are liable for tax-returns in the US
need a sailing permit _every_ time they leave the country. I was never
once asked for one. Probably no-one employed at any airport knows this
anyway.

And I left by plane :-)

Hanne

 
 
 

OT: US Federal tax question (a bit long, but HELP!)

Post by jeanne-nzlstar » Fri, 13 Feb 2009 06:29:56


it starts at the top but even they dont do it til they are caught out.
shrug,
j.

Quote:
"Pat in ***ia" wrote...

... but all businesses, institutions, and individuals need to own up to
their
mistakes. Good luck.
PAT

"Anastasia Luettecke" wrote ...

Quote:
> Hey, all!  I've been lurking for awhile, since teaching takes up an
> inordinate amount of time and what little free time I have has been spent
> learning to play the harp, my favorite instrument.  I always pop in every
> few days to see what's going on, though, and laugh with Polly, Leslie, and
> the rest of you all.  It's so nice to peek in and find friendly folks.

> So here's my dilemma:  I finished grad school in May of 2008 with my
> degree. That means I paid tuition to a qualifying educational institution
> in 2008 and can claim the lifetime learning credit.  That school did, in
> fact, send me a 1098-T form declaring a certain amount was paid.  I used
> the amount listed on that form to do my federal taxes, which I mailed last
> Monday.

> NOW, however, the school has sent an email telling us that the 1098-T they
> sent was wrong, and that they had mistakenly already put that 2008 amount
> on our 2007 1098-T forms, so we already declared it as a deduction last
> year.

> I know I have to file an amended return. But how long do I have? The IRS
> website says three years, two years, or until April 15, but the forms all
> seem to discuss amending the 2007 return.

> I've never lied on my taxes and have prided myself on doing them without
> having to call in a tax professional.  But this fiasco has shaken me up.
> I'm furious at the school for causing me to lose out on the refund amount
> I had originally figured (and budgeted for).

> Sorry for bringing this decidedly boring topic to the quilting frame, but
> I'm at a loss and you all are always so helpful, I figured I'd try here
> first!

> Anastasia

> --who could spit nails at the University of Missouri at St. Louis right
> now.