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Q: Can your tax refund exceed your federal withholding amount?
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What is the word for Excess of your withholding and estimated tax payments?

Amount of taxes that were overpaid to the IRS The excess amount of your withholding and estimated tax payments would be the amount that is MORE than your federal tax liability on your correctly completed federal 1040 income tax return and would be the amount of the REFUND that you could possibly receive after sending your tax return to the correct IRS address. Overpayment amount of taxes


What is withholding tax?

Withholding is the removal of certain amount of taxes from a persons pay check before they receive it. The amount of withholding depends on the amount of dependents one claims. The normal amount dependents claimed it 0 so that the full amount of taxes are removed, thus leading to a tax refund.


Will you get a refund if your federal tax refund amount is larger than the amount of a delinquent student loan?

Yes this is possible


Can you get tax refund with 3 kids and with unemployment compensation?

If you payed federal or state income withholding from wages you might get these monies returned


How do you get a refund for over payment of social security withholding?

When filing your federal tax return, use form 1040. In the 'payments' portion on page 2, there is a line to enter your excess social security withheld. Enter the extra amount paid in there. This will either increase your refund or lower your liability. You can amend a return already submitted if you did not do this.


What is the order by which individuals have their federal income tax collected?

First Step Paycheck Withholding Tax Return Filling Tax Payment or Refund LAst Step <APEX>


Can you still get a refund even though you owe federal taxes?

Yes, as long as your refund amount is more than your present or past tax liability.


Do you have to claim state refund on federal tax as income?

If you took the amount as a deduction as State taxes on your federal return originally (say refund is from a prior year), then getting it back now is reported as income.


How do you check on your federal income tax refund?

Go to the IRS web site and on the site is a link to the page to check on the refund. You will need your social security number, the exact amount of refund, and filing status.


What is the max refund for federal taxes?

There is no maximum refund. If you overpaid your federal taxes, you'll get a refund for the overpayment no matter how much it is.


What is the likelihood that a tax refund will be taken by the trustee during a bankruptcy?

Generally it depends on the type of BK when or if it has been discharged, the amount of the refund, and if it is a federal or state bankruptcy filing. As a rule at least a portion of the refund will be taken by the trustee, more likely the entire amount is subject to relinquishment.


What is the effect of the number of allowances on tax withholding?

With an increasing number of allowances, the taxes withheld each paycheck will be reduced, which will reduce any tax refund and/or increase the amount owed to the IRS. Conversely, decreasing the number of allowances will increase any tax refund or reduce the amount owed at the end of the tax year.