Frequently Asked Questions - Accounting Wiz

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. Can I receive a tax refund if I am currently in a payment plan for prior year's federal taxes?
6. For head of household filing status, do you have to claim a child as a dependent to qualify?
7. What is the American Recovery and Reinvestment Act (ARRA) of 2009?
8. What should I do if I made a mistake on my federal return that I have already filed?
9. What is a split refund?
10. How do I know if I have to file quarterly individual estimated tax payments?

Frequently Asked Question Categories

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