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Missing Tax Returns will provide a massive obstacle during the IRS Back Tax Resolution process. Tax return preparation requires excellent communication skills and certain level of comfort for the Taxpayer to engage. Do not leave your money unprotected, a properly prepared Federal and State tax return is your best approach to lower an existing tax liability via the 1040X. The U. S. economy is stuck in second gear, still sputtering along with the current national unemployment rate at 7.6%, the California unemployment rate is slowly dropping, currently at 9.4%. With fewer avenues of employment available, stiff competition from newly introduced high school and college graduates into the already shrinking job market, transitioning into a career from entry level jobs has proved to be difficult. The parents of Generation Y, adult ages 19 to 29 years old are experiencing, the "boomerang" effect as a societal phenomena. You love them but, are you enabling them? Start up American families are finding ways to ease the burden by moving back home with their parents, wanted or not, the extra expense to help will cost more money to the parent. For tax purposes, DWK felt as if an article about, what is a qualified child was begging to written. 5 Tests for a qualifying child; 1) Relationship Test: a son, daughter, stepchild, decedent (grandchild) or a brother, sister, half-brother or sister, decedent (niece or nephew). 2) Age Test: Under 19 at the end of the tax year, full time student under the age of 24 enrolled at an accredited college or 4 year university, permanently disabled at any time during the year 3) Residency Test: To qualify a child must have resided with the taxpayer for more than 6 months, there are exceptions for temporary absences, child born and died in the same year, children of divorced parents. A child is considered to have lived with the taxpayer during periods of time when either the taxpayer or child or both, are temporarily absent due to special circumstances such as illness, education, business, vacation or military. 4) Support Test: An individual can not have provided more than half of his or her own support for the year 5) Joint Return Test In order to qualify, the child cannot file a joint return for the year, the exception is if your child and spouse file a joint tax return merely for the purposes of a refund. In summary, understand the options that presents itself, don't be left doling out money and not understand your options for relief. Nationwide, from San Juan Capistrano, California to Chicago, Illinois, Call DWK Tax Group at 1 - 8 6 6 - 2 2 6 - 6 1 0 2 or click on http://dwktaxgroup.com/ to exchange information, receive a competent analysis of the variables that apply to you, every scenario is unique. All we need is 20 minutes of your time... Affordable, time-sensitive, respectful, efficient Tax Attorney and Enrolled Agent representation. 0% Financing is available if so needed... Break loose of the tax noose, you'll be happy with the end game result. Thank you for your time in advance.
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