Tax Tips
Home and Family Taxes
Can a partner in a venture report all income solely? | Can a partner in a venture report all income solely? |
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My wife and her siblings pooled their money together and purchased an apartment as equal partners. All their names are on the title deed. All the income from the rental units, however, is reported by one sibling on his income tax from, all the other siblings having agreed that they would defer their share of the proceeds until after the Read Entire Article |
While nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.
| AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday. | |
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