The Tax Questions Blog

Archive for July, 2011

Florida Vocation School Graduates Dominate IT

Question: how long are we required to keep receipts etc for business tax purposes?

Tired of boxes of receipts ect. how long does the irs require
me to keep my business records?

Answer: If you never filed, there is no time limit on that year. IRS has 3 years to audit you from the date the return is filed in a civil matter. If it is filed late, 3 years from the date filed.

For the Criminal Investigation Division it is longer. Very rarely does IRS CID become involved with regular folks. They stick to drug dealers, fraudsters, and tax protest kooks.

I'd say 4 years is plenty safe on filed returns, but 7 if you are a real worry wart.

Help with Tax Bill - Business Link

Question: What should be the take home pay per month on an £18000 & £12000 salary for the tax code 502L + NI deductions?

5* to anyone who can give a breakdown of the pay aswell, thanks

Answer: Try the website below:

From what you've give, a £18k + £12k annual income (I assume that this is for one person with 2 jobs, totalling £30k?) would give you a monthly take home pay of £1,834.77 a month:

£2,500 gross, of which £418.33 tax free and £2,081.67 taxable.

£436.47 tax paid, £228.76 NI paid, totalling £665.23 total deductions.

The Legacy Of Prop 13

Question: How do you apply online for an IRS job when I have a degree in arts and social work?

I am trying to applyonline for an IRS position. I heard from a friend of a friend that IRS was hiring degreed applicants for customer service positions. I am having trouble finding the site. Thanks

Answer: http://www.jobs.irs.gov/home.html

How to Apply

http://www.jobs.irs.gov/apply.html

Bailed-Out General Electrics - Generating $14 Billions in Profits, Paying $0 in Taxes

Question: Question on irs levy and noftl?

My husband and I are nearing the end of a long garnishment with the IRS. The lien and wage attachment is listed as a "joint liability" for 1996-2000. He is the only one employed. The Central lien Unit filed a lien on me only for tax years 94/95. He is not mentioned nor are they garnishing for those two years. My question is when the garnishment is paid in full, as it will be soon, must they release it.

Answer: A garnishment may or may not be for the total amount of tax liability (the amount of the lien). When the liability has been completely satisfied, the lien will be removed (there's generally a relatively small administrative fee you must pay to have your lien actually removed), but there will be no further financial consequences.

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