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Do you paid taxes on checking account?
A checking account is a service provided by financial institutions (banks, savings and loans, credit unions, etc.) which allows individuals and businesses to deposit money and… withdraw funds from a federally-protected account.
This could be possible. The Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, is authorized to operate the Treasury Offset Program. In… addition to recovering back taxes, this program may also be used to recover and offset past due child support, Federal agency non-tax debts, or state income tax obligations.
A Florida Tax Warrant, which is effectively the Florida Department of Revenue's version of a "lien" for all practical purposes, is a rather serious matter. A Florida Tax Warr…ant can freeze you bank accounts, garnish your wages, seize and sell your real and personal property, as well as possibly evolved into a criminal matter than can land the recipient in jail. In other words, not something to take lightly. Warrants are Florida's way of protecting their right to collect tax allegedly due, much like an IRS Lien. However, the Tax Warrant may have been issued simply because they have not been able to contact or get responses from the taxpayer and the Tax Warrant is the means of a wakeup call. If you receive a Florida Tax Warrant, I strongly suggest you contact a tax attorney as soon as possible. Specifically answering your question of "what effect does a Florida Tax Warrant have upon ones social security checking account," there are two possible answers depending on whether you are an individual or a business. If you are an individual and you are asking about whether a Florida Tax Warrant can legally seize your personal bank account into which you received you social security payments, the answer is YES. You will want to have an experienced tax attorney contact the Florida Department of Revenue immediately in an effort to have the warrants removed and determine what if any taxes, penalties, and interest you really owe. The attorney can also help negotiate down the penalties and interest the Department of Revenue has imposed against you. If you are a business and you are asking whether the Florida Department of Revenue's Tax Warrant can freeze a business bank account dedicated to hold and remit social security taxes to the federal government - the answer is technically NO, but it can easily happen. The Florida Department of Revenue likely will not know that a bank account is dedicated for social security payments - and will often attach liens on all business owned accounts. It takes fast action by competent counsel to get the lien removed before any social security payments are delayed. I hope this answers you question. If you do not already have an attorney with the knowledge and experience to defend you or your company against a Florida Tax Warrant, then you should consider my firm - Moffa, Gainor, & Sutton, PA. We are niche Florida Law Firm that specializes almost exclusively in defending Florida Tax Payers against the Florida Department of Revenue. Our web site is www.FloridaSalesTax.com or you can email me at JamesSutton@FloridaSalesTax.com.
how can one check the amounts remitted to his PAN No.
It is an account there you deposit money into and then draw "checks" against the balance. You cannot legally write a check for any amount over what you actually have on …deposit with the bank or credit union, as that is check fraud and is punishable by federal law and can include prison time.
There is a way to check the fees paid to the Saudi government online on Iqama account. All you have to do is go online to the government website and follow the link.
How long does it take to get state tax refund if you efile and have it direct deposited to checking account?
It varies. Unfortunately some states are faster/slower than others. You can only count on a schedule for federal returns, state returns is entirely up to the state's system an…d current workload and backup. Additional input from our contributors: About 4-5 business days.I filed my State Tax Returns through TurboTax E-File. Federal direct deposit takes about 8 days but state returns can vary from a week to over a month. I'm a Massachusetts resident and it has been close to 30 days and i still have not received the direct deposit.
find a bank that you feel comfortable with, that has the product you are looking for and go in to the branch to open your account. Bring your opening deposit and any necessary… forms of id, which you can ask in advance what they are
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Accounting Treatment relating to Income Tax is as follows: (1) At the time of paying advance tax: Advance Income Tax Paid A/c Dr. To Bank A/c (2)At the t…ime of making provision for Income tax Liability: Profit & Loss A/c Dr. To Provision for Income Tax A/c From here onwards you will have to make proper assessment year wise reconciliation of both the accounts ie Advance Income Tax Paid A/c & Provision for Income Tax A/c. This is to be noted that every Assessment Year is separate in Income Tax. (This is to be noted that in case of an assessee who is not in default Advance Tax deposited will always be greater or equal to Provision for Income Tax. Provision for Income Tax is nothing but current Tax as per the AS-22.) (3) At the time of making self assessment payment, the entry will be same as in (1) but the narration will mention that it is a self assessment tax for the AY 200X-XX. (4) when the Assessment gets completed there are few situations arises: when our income is assessed without making any dis-allowance & charging any interest : Provision for Income Tax A/c Dr. To Advance Income Tax Paid (with the amount of Provision for Income Tax for the AY 200X-XX) when our income is assessed without making any disallowance but after charging interest eg u/s 234 : In this case the AO will issue the Demand letter u/s 156 for the payment of tax calculated under assessement , because as per rule tax paid is first adjusted towards the amount of interest due. He can also adjust this amount with any other refund which might due to you in respect of any other Assessment Year. Along with the entry passed under situation (a) , the following entries will be passed Interest Paid - Others A/c Dr. To Bank A/c In case it is adjusted with the refund of any other Assessment Year, then the entry will be: Interest Paid - Others A/c Dr. To Advance Income Tax Paid In this case you must make it sure that the narration clearly mentions the assessment year of which refund is adjusted against the demand. Also you will have to make proper adjustment in your reconciliation of Advance Income Tax A/c & Provision for Income Tax A/c in concerned AY. (c) When Income is assessed with some dis-allowance & Interest payable: This means that we have to pay tax demanded by AY. Income Tax Provision A/c Dr. To Advance Income Tax Paid A/c (with the amount provided for the respective Assessment Year) Income Tax Provision for earlier years - Written Back A/c Dr. Interest paid - Others A/c Dr. To Bank A/c (if paid through Bank) To Advance Income Tax Paid A/c (if adjusted by AO with refund of other AY) (with the amount of Additional Income Tax Liability arises on assessment & Interest payable ) # This is to be noted that refund is not an Income from the Assessee point of view, However the interest received on refund is indirect income to be shown under other incomes. In (ii) Case, if there is interest on refund which is also adjusted with the tax demand then the entries will be: Income Tax Provision for earlier years - Written Back A/c Dr. Interest paid - Others A/c Dr. To Bank A/c (if paid through Bank) To Advance Income Tax Paid A/c (if adjusted by AO with refund of other AY) To Other Income (with amount of Interest recd. on refund which is adj. against tax demand) (with the amount of Additional Income Tax Liability arises on assessment & Interest payable ) Note:- This is to be noted that in case tax on returned income is not equal to Current Tax Provision for the year, then you will have to pass the following entries to make it equal to tax on returned income (Reason for inequality may be the mistake or error that might have occurred at the time of making provision). Case (a) - When tax on returned income is more: It means you have made less provision for the Assessment Year, now you have to make the remaining provision. Now the entry will be: Income Tax Provision for earlier years - Written Back A/c Dr. To Provision for Income Tax A/c Case (b) - When tax on returned income is less: Just pass the reverse entry as passed in case (a)
I did the same thing and the bank did not honor the check
How do you find the name on checking account with the checking account number and routing number that paid a bill for me?
You can try to contact the bank that the account is with by searching the internet with the routing number. However, it is not likely that they will give you that information …for privacy reasons.
No. If you did not pay any taxes or have them deducted from your paycheck, you can not get a refund. However, because of many special programs in the tax system, the earned i…ncome tax c credit programs most noteably, you may receive what would seem like a "refund" of taxes that you didn't even pay! These same credits may be provided over the year in each of your paychecks and you should talk with your payroll manager about it.
Do you have to show on your tax return if you transfer a huge amount using the balance transfer check from a credit card into your checking account?
That is not counted as income, it is debt. You are not being paid for working or asset liquidation, etc. You have to pay back the amount plus fees and interest. So it cannot …be classified as income.
If the IRS and State are taking money from your checking account and payroll check for personal taxes will declaring bankruptcy stop this?
In general, Federal tax lien are not able to be discharged through bankruptcy. You didn't mention what state you are in, but whether or not state taxes would be exempt would …depend on applicable law. You should consult a bankruptcy attorney for exact answers to this question. The short-term answer is yes - filing bankruptcy will stop a garnishment and IRS bank levy from continuing. However, if the taxes are not going to be discharged in the bankruptcy then this only a short-term solution. I would recommend checking with a tax firm who specialize in debt resolution. There is probably a better way to fix this than filing bankruptcy, preferably a way that will not affect your credit rating any further.
Yes, it is considered residuary property and remains with the estate.