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Can you prepay federal income taxes?
Yes, you can prepay federal income taxes through estimated tax payments. Generally, you're required to make estimated tax payments if you expect to owe at least $1,000 in tax for 2009 (after subtracting credits and withholding) and if your withholdings and credits are expected to be less than the smaller of 90 percent of the tax on your 2009 return or 100 percent of the tax on your 2008 tax return. Estimated tax payments are paid quarterly (every three months). You can make estimated tax payments by check or money order attached to Form 1040-ES (Estimated Tax Payment Voucher). Or you make an electronic payment by enrolling in the Electronic Federal Tax Payment System (EFTPS) at www.eftps.gov or calling 1-800-316-6541 (for individuals) or 1-800-555-4477 (for businesses). Or you can make electronic payment by Electronic Funds Withdrawal (EFW). Or you can make electronic payment by credit card. But a convenience fee is charged for this option. If you receive salaries and wages, you ask your employer to withhold more tax from your earnings by fiiling a new Form W-4 with your employer and entering the additional amount to be withheld on Line 6 of that form.
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Income tax was instituted on July 01, 1913
1913 is the correct answer. Taxes were assessed on some specific activities such as sales of goods, import duties and so on. Indeed, it took a special amendment to the con…stitution, the 16th Amendment in 1913, to authorize the government to impose income tax.
Yes, both state and federal just like anyone else. They also pay Social Security tax (except for certain employees that began their careers before 1984). All members o…f Congress pay Social Security tax.
No, they are not.
Your taxes must be paid through out the year. That is, by either payroll withholding or making estimated payments on your estimated amount due quarterly...with a Form 10…40-ES. Not making payments through the year will incur a penalty and interest charge whenever you do eventually pay. That would presumably be sometime before April 15, along with your return filing, for the year the payments should have been made.
1862 - President Lincoln signed into law a revenue-raising measure to help pay for Civil War expenses. The measure created a Commissioner of Internal Revenue and the nat…ion's first income tax. It levied a 3 percent tax on incomes between $600 and $10,000 and a 5 percent tax on incomes of more than $10,000. (Quoted from IRS.gov)
It is allowed by the Constitution. Essentially the system to enforce and handle the Tax Laws themselves - were passed after much debate and discussion by the elected members o…f Congress and signed by the President. They still make changes to it, very frequently, under the same process.
The 16th Amendment made it legal for the Congress to lay and collect taxes on income. It is the contention of some that because the Congress does NOT do the collecting dire…ctly, that is done by the IRS a division of the Executive Branch, every dime of income tax ever collected by the IRS has been collected unconstitutionally. In the US Government, the Executive Branch is responsible for enforcing the laws passed by the Congress. .
The federal income tax is progressive. A tax that charges more for higher incomes
Yes. Many of them even release a copy of their return for public viewing.
Answer . Yes, they pay income taxes, as does every other wage earner in the United States.
The total amount of your federal income tax that is due for the calender year taxpayer is usually due to be postmarked before MIDNIGHT April 15 of the year after the tax year …that the 1040 federal income tax return is for. After that due date penalties and interest will start to be added to the amount of past due taxes until the amount is paid in full.
Congress...through a very complex legal and political and financial process. Tax rates and such are actually laws.
may be claimed to exempt a portion of their earnings from withholding
For the 2010 tax year the federal income tax rate on the individual taxpayer 1040 income tax return is 10% to the maximum 35% on the taxpayer TAXABLE INCOME AMOUNT after the 1…040 income tax return is completed correctly to page 2 line 43 TAXABLE INCOME then the amount of income tax liability will be on line 44. And that will be the amount before any credits or additional taxes that may be Due before you get to the bottom of page 2 where it will determine if you get any refund or owe any additional income tax that would be due when the return is sent to the IRS at the correct address. Go to the IRS gov website and use the search box for 1040ES and go to page 8 for the TAX RATE SCHEDULE for your filing status.
If by "claim" you are referring to an exemption, the answer is no. Since your animals are pets, you may be able to deduct related moving expenses (assuming you moved during th…e year). If you have a service animal (eg seeing eye dog), some expenses may be deductible. If you have a working animal (ie an animal that generates income), the animal's expenses may be deducted as business expenses. Please consult an tax professional for more information.