HDTenEightyP/NetNews huggingface dataset:
From: douglis@MITL.COM (Fred Douglis)
Newsgroups: misc.taxes
Subject: Re: underpayment of estimated tax
Date: 14 Apr 92 21:03:02 GMT
Distribution: usa
Organization: Matsushita Information Technology Laboratory

Can anyone explain the rules regarding *when* the estimated tax must be paid?
It seems it's possible to pay the extra tax by increasing the withholding
or by paying quarterly payments.  But is it possible to withhold no
extra money from January to June, say, and then withhold twice the extra
amount needed from July to December?  (Or an even more extreme
case, withholding sharply for just a few months at the end, or
filing an ES form late in the year.)  Will the IRS care?
-- 
Fred Douglis
Matsushita Information Technology Laboratory  | Email: douglis@mitl.com
182 Nassau Street			      | Phone: +1 609 497-4600
Princeton, NJ 08542 USA 		      | Fax:   +1 609 497-4013
From: mats@netcom.com (Mats Wichmann)
Newsgroups: misc.taxes
Subject: Out-of-state income (was: When do "change your residence?")
Date: 15 Apr 92 14:09:09 GMT
Distribution: usa
Organization: Netcom - Online Communication Services  (408 241-9760 guest)

pinkas@caraway.intel.com (Israel Pinkas) writes:

>Many states may require you to pay income tax on money earned while you
>lived in that state, even though you earned the money in another state.
>Since each state has different rules on this, I would suggest that you
>contact the state agency, or a tax preparer that is familiar with the laws
>in your new state regarding out of state income.

I've been trying to gather info on this; it appears that income
"earned" in one state while a resident of another is subject to
taxation by both states, and that basically all states have
arrangements to credit taxes paid to another state; you'll end up
filing state tax returns both places and it they're anything like CA,
you'll end up figuring percentages on everything ("partial-year
filing").

-- 
Mats Wichmann
Systems Software Consultant
alruna!mats@ossi.com (or mats@netcom.com)
Newsgroups: misc.taxes
From: bes@poe.acc.Virginia.EDU (Barbara E. Scott <bes@poe.acc.Virginia.EDU>)
Subject: DECREASE IN WITHHOLDING
Organization: University of Virginia
Date: Wed, 15 Apr 1992 19:47:43 GMT






Now that the rush of submitting tax returns for 1991 is almost
over, I would like to find out if anyone knows for sure how
the decrease in withholding(allowing more spendable cash) will
affect us tax wise at the end of 1992. I have heard all sort of 
horror tales such as removal of the standard deduction, higher
tax tables etc but I have been unable to locate anything in
writing. Has anyone actually seen what effect this will have on
the tax payer?
w
From: gerard@netlabs.com (Gerard Horan)
Newsgroups: misc.taxes
Subject: Question on STD car deduction 27.5c a mile
Date: 6 Apr 92 18:15:46 GMT
Distribution: usa
Organization: NetLabs, Inc.
Originator: gerard@bunsen.netlabs.com


I  was self employed last year, 4 1099's + 1 w2 so 
I am filing a Sched C with my taxes. I am going to deduct my
car using the std 27.5 c mileage deduction. I am not depreciating
my car but I am using Form 4562 to do a sec 179 for a computer purchase
I made. My question is do I have to fill out the portion of
the 4562 that relates to vehicle usage and if so what is the difference 
between business miles and commuting miles.


many thanks

gerard
From: alien@hpdmd48.boi.hp.com (Tom von Alten)
Date: Wed, 8 Apr 1992 23:28:14 GMT
Subject: Re: How do u keep track of miles for STD car deduction?
Organization: Hewlett Packard - Boise, ID
Newsgroups: misc.taxes

In misc.taxes, tpradeep@cs.tamu.edu (Pradeep K Tapadiya) writes:

> How does one keep track of the miles covered on business?

Some kind of log or journal, showing date, miles, destination(s) would
be my guess.

> More specifically, how do you prove to IRS that you actually have
> travelled x miles on business? 

If you had some evidence of the business transacted at the destination/date
in your log, that should be proof enough.  If they want to get ugly, who
knows whats good enough?  You can't *ask* them, 'cause they only give you
the right answer half the time...
---------------------------------
Not an official statement of anybody, by anybody.
Your mileage may vary.
Newsgroups: misc.taxes
From: adeni@pioneer.arc.nasa.gov (Kaiser Adeni  fl)
Subject: AMT
Organization: NASA Ames Res. Ctr. Mtn Vw CA 94035
Date: Wed, 8 Apr 92 22:00:28 GMT
Distribution: usa


Hi,

What is AMT and when does one pay AMT.

thanks,

Kaiser Adeni
adeni@pioneer.arc.nasa.gov
From: Jon.Udell@FtCollins.NCR.com (Jon Udell)
Newsgroups: misc.taxes
Subject: Re: Taxe rate on poor > Tax rate on rich
Date: 15 Apr 92 07:58:51 GMT
Reply-To: Jon.Udell@FtCollinsCO.ncr.com
Distribution: usa
Organization: NCR Microelectronics, Ft. Collins, CO
In-reply-to: weverka@spot.Colorado.EDU's message of 13 Apr 92 10:12:11 GMT

In article <1992Apr13.101211.18610@ucsu.Colorado.EDU> weverka@spot.Colorado.EDU (Robert T. Weverka) writes:

> Here is a graph of incremental tax rates for incomes from $0 to $150,000.
> Poor people pay over 40% tax rate.  The current system in the USA is 
> regressive.

Your definition of "poor" appears to be about $20,000 in income after
deductions, i.e. $20,000 + 5700 + 8600 = $34,300 before deductions,
using your figures.  While this is definitely not rich, I'm not sure
it can be called poor.

I'm sure that all the "rich" people would gladly scrap Social
Security, Medicare, and Earned Income Credits so as to even out the
tax burden if you ask them to.

My advice would be to stop griping and finish your tax return :-)
--
-------------------------------------------------------------------------------
Jon Udell
NCR Microelectronics Products Division      Jon.Udell@FtCollinsCO.NCR.COM   
2057 Vermont                                uunet!ncrlnk!ncr-mpd!ncr-fc!jonu
Fort Collins, CO 80525                      (303) 223-5100 X431 
-------------------------------------------------------------------------------
From: bhjelle@vaxine.unm.edu (Brian Hjelle)
Newsgroups: misc.taxes
Subject: Re: Japanese American Corp. pays *no* tax
Date: 10 Apr 92 22:35:35 GMT
Organization: University of New Mexico, Albuquerque

In article <1992Apr10.185936.1040@osf.org> kev@osf.org (Kevin Till) writes:
>I'm surprised that I haven't seen any posting so far today. According to 
>yesterday's Primetime, many Foreign Corporation( especially Japanese) get away
>with paying no(or little) US Federal Tax by playing Price Transfer game.
>-- 
Sigh.  More Japan-bashing. When are Americans going to grow up?

That show is one of the sleaziest on TV. Last week it was chasing
Bob Gallo through NIH corridors accusing him of fraud.

Sam Donaldson should hide his hairpiece in shame.

Brian
From: carl@Cayman.COM (Carl Heinzl)
Newsgroups: misc.taxes
Subject: Re: What constitutes a Mortgage?
Date: 14 Apr 92 15:35:54 GMT
Distribution: misc
Organization: Cayman Systems Inc., Cambridge, MA
In-reply-to: jgj@ssd.csd.harris.com's message of 7 Apr 92 16:14:25 GMT
bcc: carl


In order for the mortgage to be deductible I believe that it has to be
recorded as a lien on the deed.  Also, any interest payments that you
make to them must be reported as interest income by THEM.

-Carl-
--
From: drears@pica.army.mil (Dennis G Rears (FSS) <drears>)
Newsgroups: misc.taxes
Subject: Re: Military Pension and Deductible IRA Contribution
Date: 14 Apr 92 19:38:10 GMT
Organization: U.S. Army  Armament Research Development & Engineering Center, Dover NJ

In article <6106697@MVB.SAIC.COM you write:
>   My husband is active duty military.  As such he receives a military
>pension prov ided he stays in the service for at least 20 years.  If he
>were to leave after 1 9.5 years he would receive absolutely no
>pension.  He does not have the option o f a 401(k) retirement plan (the
>service doesn't offer one).  So, I had been under the impre ssion that
>any contribution he would make to an IRA would be totally deductible.
>However, Box 6 of his W-4 has Pension marked off.  And everything I've
>read se ems to indicate that, if the Box is marked then the
>contribution is not deductible (or only deductible on a sliding
>scale).
 
>I contacted the IRS and the only answer I could get was: "if the box is
>marked, he must not be eligible for a deductible IRA; or only on a
>sliding scale".
>
>Can anyone verify this information and/or explain it to me?
 
  This is entirely correct.  His employment is covered by a pension.  The
fact that he is not vested for 20 years is immaterial.  He can only get a
deductible IRA if his income is less than a certain amount.  This is
actually in the law it is not just "IRS interpetation". 
 
Dennis
Newsgroups: misc.taxes
From: baderl@brahms.amd.com (Bader Lakhat)
Subject: Questions regarding 'Married Filing Seperately'
Organization: amd
Distribution: usa
Date: Tue, 7 Apr 1992 17:28:28 GMT

A friend is filing married filing seperately. He has these questions:

* How do you divide income from investments like stocks, bonds, etc. Does the
income have to be divided equally if its from a joint account OR its up to
him? 
* How about mortgage interest/points, property taxes, charitable contribuitons,
etc. Do they have to be divided equally or its up to the individual? His wife
has medical deduction that she will take. They want to put the mortgage,
property tax deductions in his sched A since he is in a higher income 
bracket. Can they do that as long as they dont take the deduction twice?

Any info or reference to a publication would be greatly appreciated. 

Thanking you in advance.
Xref: sparky misc.taxes:2243 misc.consumers:10433
From: tomm@ccop1.ocpt.ccur.com (Tom Motto)
Newsgroups: misc.taxes,misc.consumers
Subject: J.A. Pan, Inc.
Keywords: Tax Wizzards
Date: 13 Apr 92 15:58:52 GMT
Distribution: usa
Organization: Concurrent Computer, Oceanport NJ


Subject: Re: Japan could be skirting $30 billon in U.S. taxes annually
Newsgroups: talk.politics.misc,rec.autos,sci.econ
Distribution: usa
Summary: America - the land of opportunity for corporate thieves?


In article <f8D6024ac4l=00@amdahl.uts.amdahl.com>, fierro@uts.amdahl.com (Doug Fierro) writes:
> 
> 
>   Apparently, Japan declares about $0.46 to the IRS for every $10 in
> revenue it receives from U.S. sales.  Japan says that %75 of its sales
> occur in the U.S., but only about %25 of their total tax fees are from
> U.S. sales.
> 
> 
It sort of makes you want a minimum tax - lets say 10% of sales - to be
assesed against corporations doing business in the US - unless of course
THEY prove otherwise! And if they "lose" their records - gee - thats too
bad, isn't it. I'm sure that when Toyota lost their 3 year court battle
with the IRS to divulge their corporate records from Japan - why - it
was sheer coincidence that they lost them.

>   The IRS director (forget her name) states that no proof has been offered
> of such activity, and an accountant that Primetime interviewed said that
> it is very difficult to prove such actions.   About 46,000 international
> companies do business in the U.S, but only 2,000 or so are audited each
> year.  Furthermore, the IRS only has about 6 auditors that speak fluent
> Japanese.  Auditing such a company is further complicated by the fact that 
> Japanese companies' tax records are kept in Japan, and their U.S. records
> may not coincide with the documents back home.
> 
So, the IRS audits roughly 4% of their biggest tax payers. What is the
rate of audit for the middle class taxpayers in the U.S.? And what book-
keeping technique is used where tax records in one country won't agree
with the records in another? Here's a radical thought...maybe the IRS
can audit the people and organizations that make the most $$$$ first?

> also implied that the IRS has not cracked down on such Japanese companies
> because the U.S. Treasury does not want to upset Japan, so that they will
> continue to finance the U.S. Debt (with a capital 'D' :-) ) by purchasing
> U.S. bonds and bills.
> 
Gee - are you implying that our Congressmen are in the pockets of lobbyists
and /or foriegn interests? Gosh - maybe our President is too.........
Xref: sparky misc.taxes:2179 misc.jobs.contract:1416
From: sriram@cremona.Eng.Sun.COM (Sriram Ramachandran)
Newsgroups: misc.taxes,misc.jobs.contract
Subject: Contracting - Tax implications.
Date: 9 Apr 92 20:13:30 GMT
Followup-To: poster
Distribution: usa
Organization: Sun Microsystems Inc., Mountain View, CA
NNTP-Posting-Host: cremona


    How can I get more information on tax implications if I'm a 
self-employed contractor ? What about social security tax ?

    This is probably a topic that has been beaten to death on these 
(and other) newsgroups. If so, I'd appreciate someone forwarding 
me any saved messages. 

    Please send me replies directly. I will summarise and post to the 
net.

Thanks.
sriram/.

    
Newsgroups: misc.taxes
From: weverka@spot.Colorado.EDU (Robert T. Weverka)
Subject: 15% tax rate for the Rich.  (President Bush's Tax)
Organization: University of Colorado, Boulder
Date: Thu, 16 Apr 1992 19:23:17 GMT


News said he paid $200,000 on $1,300,000 income.
He is in a lower tax bracket than me, and I'm just above
the poverty level.
   So much for tax reform.
From: timlee@public.btr.com
Newsgroups: misc.taxes
Subject: Re: When must IRA be opened?
Date: 12 Apr 92 05:06:29 GMT
Reply-To: timlee@btr.com (Timothy J. Lee)
Followup-To: misc.taxes
Distribution: usa

harder@wharton.upenn.edu writes:
|I know that if I want to set up an IRA for this year, it must be
|opened before April 15th.  My question is, what constitutes "opening"
|it?  Is it good enough to send off my check with application 
|postmarked by the 15th, or must the custodian have received and
|processed it by (eek) this Wednesday?  It will be a NON-deductible
|IRA if that makes a difference.

Why not be safe and do the following:

1.  Open a money market deposit account IRA in a local bank or S&L.
That way, you have the receipts in your hand before the deadline.

2.  Transfer (custodian to custodian, not rollover) the IRA to the
intended investment.
From: M21760@mwvm.mitre.org
Newsgroups: misc.taxes
Subject: TurboTax Printouts are IRS approved?
Date: 1 Apr 92 18:23:28 GMT
Organization: The MITRE Corporation, McLean VA 22102


 
I am using TurboTax tax preparation software for tax year 1991 and
it claims to produce IRS approved forms from virtually any printer.
I am running it on an HP Vectra PC and printing on an HP Laser Jet
Series II printer.  Has anyone actually submitted these forms?  Are
they really IRS-approved?  I'd hate to find out the hard way that the
IRS doesn't accept these printouts.
 
Responses posted to the net are fine but I'd appreciate e-mail since
I'm running out of time to file (only 2 more weeks!) and I have a hard
time finding the time to scan through all the posts on the net.
 
Thanks in advance,
 
Linda
 
E-mail:  lbking@lear.mitre.org
 
Newsgroups: misc.taxes
From: cmt@cs.brown.edu (Choh-Man Teng)
Subject: 1040NR vs 1040EZ
Organization: Brown University Department of Computer Science
Date: Mon, 6 Apr 1992 01:15:45 GMT


Hi everybody,
	
I am a student from HK on a F-1 visa and this is the first year I need
to file a tax return (although it is my second year here).  Someone
told me that if I have been here for more than a year, I can file as a
resident (or resident alien??), but I can't any mention of that in the
1040-NR form.  She even go as far as filing a 1040EZ.  Can anyone out
there please tell me whether this is acceptable?

Thanks a lot in advance.

-Choh Man
Choh Man Teng                          cmt@cs.brown.edu
Department of Computer Science   
Box 1910 Brown University
Providence  RI 02912
From: hbonney@io.Tymnet.COM (Hugh Bonney)
Newsgroups: misc.taxes
Subject: Re: taxes, immigrant spouse
Date: 15 Apr 92 23:34:17 GMT
Distribution: usa
Organization: BT North America (Tymnet)
Originator: hbonney@io


  >From: hilary.miller@execnet.com (hilary miller)
  >Date: 13 Apr 92 23:05:45 GMT

  >Hugh Bonney, in a message to All on 04-12-92 at 4:52pm, said:
  >   The IRS considers you married for all of 1991. If she has no
  >   U.S.-source income, she need not file at all for 1991.

 Sounds good; she may have, but I don't think so.

  >   Yes, but so what?
  >   Yes, what is the point?  Why don't you forget about her and get
  >   on with your life? This is your umpteenth post on the subject.

 Are you maybe stereotyping here? Trading can lead to expensive problems,
 though I consider them unlikely. As for forgetting about it, she won't 
 have the Reno divorce until, probably, next week. I am not entitled to
 any notice, I have to get a copy myself. It turns out that the English
 businessman that hired her lawyer, etc. has been in Reno the whole time. 
 His spectacular unscrupulousness in this matter has caused him to be
 paranoid, of course, and I can find myself with problems. I would be a 
 fool not to cover myself and have been so advised. I have not been 
 proactive in this entire matter. 
 
 It did take a while to figure out what was going on, and I got some
 really bad legal advice regarding UK/HK law from a British lawyer here.
 A British law firm that seems OK is Denton, Hall, Burgin, & Warrens, 
 London, 44-71-242-1212 . They have a Hong Kong office. It has been
 quite difficult to get legal advice and translations free of editorializing.

  >   It's not relevant if she's already left. (Permit to Sail)

 The people applied for a Fiance Visa at the British Consulate in L.A.
 March 10, pending her divorce from me. It's beginning to look like there
 is some reason the English man could not get her out of China himself, thus
 me as a railroad track. While there is a possibility of her leaving
 immediately, she most likely will have to stay pending the processing in
 the U.K. of the application as she is from the PRC and this whole thing
 is obviously weird. She could be here for months. That would be illegal,
 but the INS hardly has the time to worry about it, and I don't expect them
 to. She is leaving the US in circumstances that would make a return
 very difficult. Filing a tax return is minor. So what's a Permit to Sail?

 ------------415-961-6286-------408-922-6198-work---Hugh-Bonney--------
Newsgroups: misc.taxes
Subject: Re: Swiss Franc -> $ avg. exchange, 1991
From: yeager@sc2a.unige.ch (Mark Yeager)
Date: 10 Apr 92 11:57:00 +0200
Organization: University of Geneva, Switzerland

In article <1992Apr3.162026.791@sc2a.unige.ch>, yeager@sc2a.unige.ch (Mark
Yeager) writes:

> Does anyone have the "official" average Swiss Franc/$ exchange rate for
> 1991? Thanks,

From the US tax advisor, US Embassy, Berne:

1.434090 SFr/$ average for 1991.

--   -.-
Mark Yeager  ->  yeager@cgeuge52.bitnet     yeager@sc2a.unige.ch
 University of Geneva, Dept. of Biochemistry, CH-1211 Geneva 4, Switzerland
From: jremer@ub.d.umn.edu (Jeremy C. Remer)
Newsgroups: misc.taxes
Subject: Taxes.....
Date: 16 Apr 92 03:38:27 GMT
Organization: University of Minnesota, Duluth. Information Services.

I have my taxes done and in!  ...And it is only April 15th!

My first time to pay taxes and boy did I feel like I got soaked.

At least they are in.


What is the penalty exactly if you were late?


-- 
University of Minnesota, Duluth.
Jeremy Remer
E-mail  jremer@ub.d.umn.edu
From: awong@cns.caltech.edu (A Lyons)
Newsgroups: misc.taxes
Subject: TurboTax Forms are...
Date: Mon, 6 Apr 92 20:00:09 PDT
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

approved by the IRS.  I am currently marketing tax preparer software that
uses Chipsoft's Personal TurboTax and that's how I know.

I tried sending this msg to the original poster but it was bounced back to
me.  So I am posting this to the list.

Al
From: harder@wharton.upenn.edu
Newsgroups: misc.taxes
Subject: When must IRA be opened?
Date: 12 Apr 92 01:32:53 GMT
Organization: University of Pennsylvania

I know that if I want to set up an IRA for this year, it must be
opened before April 15th.  My question is, what constitutes "opening"
it?  Is it good enough to send off my check with application 
postmarked by the 15th, or must the custodian have received and
processed it by (eek) this Wednesday?  It will be a NON-deductible
IRA if that makes a difference.

Thanks in advance,

Joe Harder

Harder@wharton.upenn.edu
From: scott@jordan.geom.umn.edu (Scott S. Bertilson)
Newsgroups: misc.taxes
Subject: SC 1040-1991 spreadsheet
Date: 11 Apr 92 15:55:20 GMT
Article-I.D.: news2.1992Apr11.155520.12198
Distribution: usa
Organization: Geometry Center, University of Minnesota


  I've tried "archie", but can't find anything newer than 1990.
Anybody got it?
--
-----
Scott S. Bertilson	scott@geom.umn.edu
Newsgroups: misc.taxes
From: bills@sequent.com (Bill Sears)
Subject: Re: DECREASE IN WITHHOLDING
Organization: Sequent Computer Systems Inc.
Distribution: usa
Date: Wed, 15 Apr 92 23:26:55 GMT

In article <1992Apr15.194743.28545@murdoch.acc.Virginia.EDU> bes@poe.acc.Virginia.EDU (Barbara E. Scott <bes@poe.acc.Virginia.EDU>) writes:
>Now that the rush of submitting tax returns for 1991 is almost
>over, I would like to find out if anyone knows for sure how
>the decrease in withholding(allowing more spendable cash) will
>affect us tax wise at the end of 1992.

It will have absolutely no effect on your income tax liability.  What
it does affect is the amount of income tax that is withheld during the
year.  What this means is that you will either owe more money than you
normally would have with your return next year, or your refund will be
smaller.

The only way that this could have a negative impact is if you don't
have enough tax withheld during 1992 to cover at least 90% of your
1992 tax liability.  However, I have heard that if you would have had
enough taxes withheld to cover the 90% rule had they not changed the
withholding tables, then they will waive any penalty for underpayment
of taxes (can anyone verify this?).

You're also all right if you have 100% of your 1991 tax liability
withheld during 1992 provided you don't fall under certain exclusions.
These exclusions include (but are not limited to): A massive increase
in your AGI ($40,000 I believe?), and having paid estimated taxes in
any of the previous 3 years.  There is another exclusion, but I can't
remember it off the top of my head.

Like I said, I have heard a rumor that if you would have been okay if
Bush hadn't screwed around with the tables, they will waive the under-
payment penalty (but not the tax, of course ;-).

>I have heard all sort of 
>horror tales such as removal of the standard deduction, higher
>tax tables etc but I have been unable to locate anything in
>writing.

As for the other horror stories you've heard, it's anybody's guess what
the IRS will change in the tax laws this year, but I've not heard any
of the things you mention above.
-- 
--------
Bill Sears            Sequent Computer Systems            bills@sequent.com

Women and cats do as they please.  Men and dogs had best learn to live with it.
Newsgroups: misc.taxes
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: Question on STD car deduction 27.5c a mile
Distribution: usa
Date: Tue, 7 Apr 1992 11:38:00 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

gerard@netlabs.com (Gerard Horan) writes:


>I  was self employed last year, 4 1099's + 1 w2 so 
>I am filing a Sched C with my taxes. I am going to deduct my
>car using the std 27.5 c mileage deduction. I am not depreciating
>my car but I am using Form 4562 to do a sec 179 for a computer purchase
>I made. My question is do I have to fill out the portion of
>the 4562 that relates to vehicle usage and if so what is the difference 
>between business miles and commuting miles.

You *do* need to fill out the section of the 4562 listing vehicle mileage
and should also fill out the first three columns of the description of
listed property showing what kind of car you have, when it was placed in
service, and percentage of business use.

"Commuting miles" = miles from your home to the (first) place you work
during the day plus miles from the (last) place you work during the day
to your home.

"Business miles" = any miles you drive between work locations during the
day or on business errands during the day or on business trips.

If you drive to work and then drive home (like many people), all your
miles are commuting miles.