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Taxes and Tax Preparation

Levies imposed by the government on individuals or organizations such as income taxes, sales taxes, property taxes, and capital gains taxes

500 Questions

Need copy of state tax forms?

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Asked by Wiki User

need state tax form

Can you borrow from an IRA without penalty?

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Asked by WriteClub

No. You cannot borrow from an IRA period.

(You may borrow from some 401k plans, w/o penalty).

When can we get W2 FORMS online?

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Asked by Wiki User

W2 forms for Stephen Gas co when can I get this form on line

I have Form 1099R in my posession, which Form do I need to file my information in order to receive my federal income taxes withheld?

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Asked by Wiki User

I have Form 1099R in my posession, which form o I need to file my information in order to receive my federal income taxes with held?

Can you print your pilgrims pride w2?

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Asked by Wiki User

I just spoke with someone about the W2's for Pilgrim's Pride and was told that they will not be available online. They will be mailed out to the employees/former employees.

Did People have to pay taxes to provide services for the newcomers?

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Asked by Wiki User

Yes, in the past, communities raised taxes to pay for services for new residents. These taxes were essential for building infrastructure, providing education, and paying for health care. Taxation was a way for communities to invest in themselves and make sure they were meeting the needs of current residents as well as new residents. The goal was to create a healthy and supportive community for everyone.

What is the difference between tax and taxation?

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Asked by Wiki User

Tax has a limited meaning. It is the amount of tax levied/collected etc. by the Government. Taxation is the process of tax collection. It covers all of the following: passing of the law by the parliament, making of rules by the Government, entire set of people appointed as tax commissioners, assessment; the appellate authorities & so on. Rashmin Sanghvi

Robert bought a used car for 1500.00 if the sales tax is 5 what will be the total to pay?

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Asked by Wiki User

A tax of 5% on a principal of $1500.00 can be calculated by:

$1500 * 0.05 = $75

where 5% = 0.05.

So the total price would be the principal plus the tax:

$1500 + ($1500 * 5%)

= $1500 + ($1500 * 0.05)

= $1500 + $75

= $1575

How did the loss of tax revenue bring about military government?

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Asked by Wiki User

The loss of tax revenue can lead to economic instability and government budget deficits. This can weaken the civilian government's ability to finance public services and maintain law and order. In response, the military may see an opportunity to step in and take control, promising stability and better governance.

Who wrote a letter that directly criticized the Townshend Acts?

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Asked by Wiki User

Samuel Adams wrote a letter known as the "Circular Letter" in 1768 that directly criticized the Townshend Acts. This letter was sent to all the American colonies to coordinate resistance against the acts and to call for unity in opposing British taxation policies.

Is an advertisement by an enrolled agent depicting the official IRS insignia is proper as long as the enrolled agent is currently enrolled with the Director of Practice?

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Asked by Wiki User

No, it is not proper for an advertisement by an enrolled agent to depict the official IRS insignia. The IRS prohibits the use of its official insignia in any promotional materials, as it may create the impression of an official endorsement. Enrolled agents should avoid using the official IRS insignia in their advertisements to ensure compliance with IRS guidelines.

Why must you pay taxes to your local state and national government?

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Asked by Cpingeon

You must pay taxes to your local state and national government because it is a legal requirement and a civic responsibility. Taxes are used to fund various public services such as infrastructure development, education, healthcare, social welfare programs, and national defense. These taxes ensure the continuity and functioning of government operations and contribute to the overall stability and well-being of society.

Where can I download federal tax forms from the IRS?

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Asked by Wiki User

IRS.gov, the official site of the Internal Revenue Service has all the necessary forms available in an online format. You don't need to download them to do your taxes online. If you want to mail in your forms you can pick up any form you need at the nearest US Post Office.

What taxes does a 70 year old have to pay?

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Asked by Wiki User

A 70-year-old individual may still be required to pay various taxes depending on their income, assets, and activities. They may have to pay income tax on any taxable income they earn, including retirement income, pensions, or rental income. Additionally, they may be subject to property tax if they own real estate, and they may have to pay sales tax on purchases they make. It is essential for older individuals to consult with a tax professional or contact their local tax authority for specific guidance.

How do younger workers pay for social security benefits to retired workers?

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Asked by Wiki User

Younger workers pay for social security benefits to retired workers through payroll taxes. A portion of their wages is deducted and paid into the Social Security trust fund. These funds are then used to pay benefits to current retirees. When the younger workers themselves retire, the next generation of workers will contribute to their benefits.

What are the disadvantages of sin tax law?

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Asked by Wiki User

Some potential disadvantages of sin tax laws include:

  1. Disproportionate impact on low-income individuals: Sin taxes can place a greater burden on individuals with lower incomes, as they may spend a larger proportion of their income on sin products.
  2. Potential for black market activity: High sin taxes can create an incentive for the development of black market activity, where individuals seek to avoid paying the taxes by purchasing illegal or untaxed products.
  3. Negative economic impact on industries: Sin tax laws can adversely affect industries that produce sin products, potentially leading to job losses and economic decline in those sectors.

A law governing taxation is called?

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Asked by Wiki User

A law governing taxation is called a tax law.

Income from all sources is taxed unless specifically exempted by?

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Asked by Wiki User

the tax laws of a particular country. Some common sources of income that are typically taxable include wages, salaries, investment profits, rental income, and self-employment income. However, there may be specific exemptions or deductions allowed for certain types of income, such as certain allowances or benefits provided by employers, or income earned in certain tax-exempt investments.

Why did king Solomon tax people so heavy?

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Asked by Wiki User

King Solomon is known for implementing heavy taxes to fund his grand building projects, extensive trade networks, and a large bureaucracy. These taxes were necessary to maintain the wealth and influence of the kingdom of Israel during his reign. Additionally, as a wise and wealthy king, Solomon likely saw these taxes as a means to consolidate power and establish his authority over the people.

What types of taxes collected by government on the state and federal levels?

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Asked by Wiki User

The government on both the state and federal levels collects various types of taxes. Some common types of taxes include income taxes, which are collected based on an individual's or business's earnings; sales taxes, which are collected on the purchase of goods and services; property taxes, which are collected based on the value of real estate; and payroll taxes, which are collected from employers and employees to fund social security and Medicare programs. Additionally, governments may also collect excise taxes on specific goods such as alcohol, tobacco, and gasoline.

What do you mean by deferred taxes?

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Asked by Wiki User

A deffered tax is is used in accounting to reduce a periods income tax.Ê It can arise dueÊto a net loss which can only then be recorded as an assest if the asssest will be used in teh future.