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Income Taxes

Parent Category: Taxes and Tax Preparation
Taxes imposed by the government on the incomes of individuals or organizations, including capital gains
Answer . \nIt is completely illegal for an employer or previous employer to withold your W2 form(s) from you. You need to contact the IRS immediately and if you get lucky, they might even fine them for withholding a legal document. Try going to www.irs.gov and searching for information. If that...
No, a credit is granted against their FUTA tax for their SUTA  contributions.
Answer . \nNo, but if you deduct you should be able to write off the interest on a mortgage loan. Contact a tax professional for details.
Foregoing: waiver of salary by an employee is called foregoing of salary. Since income under the head 'Salaries' is taxable on accruel or reciept, whichever comes earlier, the entire amount foregone will be taxable in the hands of employee. Eg: an employee directs his employer to give his salary to...
Depends on when you filed. Check the tax web site for their refund schedule .
For tax year 2009 tax return that you will file in the year of 2010.Generally a person who is self-employed must file a tax return if their net earnings from self employment for the year exceed $400, and pay social security and Medicare taxes and any income taxes that may be due.If a dependent on...
Because unemployment compensation is, at least, Federal income taxable, if during the year you have other income which puts you in a taxable bracket, and you overpaid your taxes, then like any other tax payer you would be entitled to a refund.
Accounting is the management of all moneys in a company. Auditingis when all accounting practices are looked over with a fine toothcomb. Many companies will have an annual audit each year.
I dunno, lets see, how about 1/8 of the federal tax, c'mon pal
Ah that is different, if the federal tax is $2,400 (state tax is 1/8 or $300) giving you $2,700 total
Did you gamble on the internet then refuse to pay? If so, that's why.
  == know corporate tax ==   Corporate tax refers to a tax levied by various jurisdictions on the profits made by companies or associations. As a general principle, the tax varies substantially between jurisdictions. In particular allowances for capital expenditure and the amount of interest...
It depends on the province where you live: British Columbia: 7%Alberta: 0%Saskatchewan: 5% Manitoba: 7%Ontario: 8%Quebec: 7.5%Prince Edward Island: 10%New Brunswick: 13% (GST and PST combined) Nova Scotia: 13% (GST and PST combined)Newfoundland and Labrador: 13% (GST and PST combined)
If you suspect fraud or illegal usage of your SSN, you can contact IRS or the Social Security Administration, and they will conduct an investigation. Other than that do not expect much cooperation. Tax records and Social Security data is NOT considered public record unless the party wises to...
When you are able to itemize your deductions using the schedule A of the 1040 tax form and you deduct the mortgage interest to help reduce your income taxes you have a type of imputed income that you have received.
Almost certainly. You have to read all the small print telling you how to enter information.
Yes , because there is an inheritance tax ; check with a lawyer for more precise information .
Indiana does not have an emancipation statute. You will have to wait until you become an adult. If you are not safe contact your local social services to get help.
Not if you wrote the bad check....    AnswerIn business, probably always, as some type of business expense.On personal tax, probably never, unless you could possibly tie it to an investment or such...(and even that's always going to be a stretch).
Yes - the State may intercept tax refunds to collect the unpaid balance, even if you are making payments on that balance as agreed.see related links
starting salary of a tax assistant is around 21 thousand
The Australian government does not levy tax on lottery winnings. If you are a tourist to Australia and win lotto you don't have to pay taxes on the prize - if you win $10 million you get $10 million! However, depending on what country you are from, it is possible that your own government would want...
You would have to pay them at Income Tax reporting date, April 15th, instead of smaller amounts when received.
  The most professional way I can answer this question is to give you my example of doing my '07 taxes.   Even though I was confident about meeting the "7.5" threshold everyone talks about (it means that since i made 20 grand that year i could write off reciepts after approx $1500 to meet the...
Yes, it is taxable.
  If you are itemizing deductions (on a schedule A) as opposed to taking your standard deduction you have 2 different ways to deduct taxes paid to the state you live (or work) in. For the State Income Tax Deduction you can deduct the amount of taxes paid in 2007 (any state witholding from a W2,...
You are the only one that would have all of the necessary information available that WILL BE NEEDED to even start filling out your 1040 federal income tax correctly. You will NOT know the correct amounts until you complete your 1040 federal income tax return correctly. Your filing status, your age...
FICA stands for Federal Insurance Contribution (tax) Act. You and your employer both contribute a percentage of your income to this tax which is attributed to Social Security and Medicare. Social security is the governmental fund that provides income to retirees, disability, etc. Medicare provides...
Yes, erroneous information helps a person's understanding of new  material because the first response is to question the information  received. Finding new material and providing a new understanding of  the erroneous information. Signed Tax Preparer 
No she does not. $1200 is way below the allowable income level.
Business tax return preparation cherry hill ??   Answer -    http://www.edwardenewmancpa.com/    Edward E. Newman, Mount Laurel, NJ - Find and accountant, accounting firms, bookeeping services, CPA, tax preparation, business tax return preparation and business consulting firm in the...
The IRS website says that, "Newlyweds and the recently divorced should ensure the name on their tax return matches the name registered with the Social Security Administration (SSA)."
If you have an account with fifth third bank and a customer in good standing with your spouses signature! They wont deposit it if her or his name is not on the account! You are considered a risk and a crook after 20 years of being a customer!
  == Answer ==     If you are talking about the firefighter hero, he only got 25 dollars! But they gave him a car
No, putting false information on a tax from is fraud; for which you can go to prison.
DqcTaxCha...pdf (67.8 KB) , DqcTaxCha...pdf (46.0 KB) . Dear All, For those who have missed the instructions sent on 14th December 07 System E News please find instructions on changing GST to 5% for Panasonic & Posi systems..
2009 MFJ both under of the age of 65 the standard deduction amount would be 5700 plus any property taxes up to a maximum of 500 and any sales tax or fees that are based on the purchased price of a new vehicle up 49500 of the price of the vehicleMoney Back for New Vehicle Purchases. Taxpayers who buy...
You will have to have some taxable earned income in order to get any type of tax refunds, credits or benefits from filing an income tax return and claiming your kids on your income tax return.You can go to www.irs.gov and look at some of the information that is available at that web site.
  Along with your Form 1040, you will need Schedule C, to report the untaxed income and associated expenses, and Schedule SE, to calculate your self-employment tax, and possibly Form 4562 if you have tools or equipment to write off.
You do NOT get any deductions on your 1040 income tax return for the payments that you make on your past due federal income taxes, penalties, or interest.
Only when all arrears and interest penalties are paid. The interest penaltis can be as high as 15% annually.
It is a North Carolina deduction and means "North Carolina Married Withholding." How disgusting is that?! My family loses $150 to it a month... I TEACH for the state, for a community college, and they only GIVE me 3 times that per class - then they TAKE that FROM me for being married. Sheesh... I...
The link should take you to the right IRS location to send applications and payments. It varies by State.http://www.irs.gov/businesses/small/article/0,,id=147314,00.html
yes she will get all the back if you have enought if not they will take all the money you get for taxes every year till its paid ... me and my husband went throught it with his money hungry ex
IF OR WHEN this may be possible you would have to get this information from your employer as this is NOT a normal procedure that is usually offered.
Yes. Just looked it up myself. The only case that does not require you to pay income tax is if the settlement comes from an illness or injury. If the settlement is for wages or anything unrelated to illness (pain and suffering do not count as an illness).
  I think it is still $3000 but check a tax book or IRS to make sure.
It doesn't matter if you receive an income tax refund or not. The fact is is you worked and had federal and state taxes taken out you would need to file your taxes every year. However, much depends on your filing status (single, married, etc) and how much you made that year on whether you would file...
The key word here is "earned." Welfare benefits are not earned.
  Gift - no tax.   Stock sale - tax on profit, if any. Type of tax depends on how long stock was held.   IRA - if Roth, no effect on tax return. If traditional, may be deductible, depending on other factors.   Money market - interest is taxable.
  == Answer ==     The difference between the two is the weight, of the balancer, as opposed to the turning of the crankshaft, it balances the crank as it spins so that it does not throw it off, and keeps the motor from jumpping up and down. The 350 is a heavier balancer, and designed...
  If you have not exempted them, yes. The tax rebate could not have been exempted if you filed your 13 before it became law. Any tax refund after filing means you are overwithholding and that is not allowed in a c. 13, so it usually has to go to the trustee, unless it is a small amount.
Yes, if there is a contract involved.
  == Answer ==     This needs to be much better defined.     Which taxes, paid by and to whom and for what to start.
  My research tells me about 7-14 working days
can long term gains be offset by short term losses
You can complete Form SS-4 and mail or fax it in, or file online at http://www.irs.gov/businesses/small/article/0,,id=102767,00.html.
  Go to the IRS gov website and use the search box for EITC Home Page It's easier than ever to find out if you qualify for EITC   The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally...
  == Answer ==     Further information may be obtained by calling the WSTB at 761-4902.
If you are in the U.S., and the student loans are Federally Guaranteed, then the answer is yes. In fact, this is the collection agency's favorite way to get money and get the borrowers attention. You still may have time to get the loans out of Default. There are only 2 ways to get out of default on...
Usually 2-7 pages depending on rather or not you have itemized deductions etc. Also, your signature usually goes on the second page of your tax return papers.
Unemployment benefits are not "earned income", so you should not be eligible for earned income credit.
Yes they do the same as any one else that has any gross worldwide taxable income to be reported on the 1040 tax form.
  To find out what benefits you are entitled to , you need to contract your tribal administration office. As a member of the Choctaw Nation of Oklahoma, for instance, I would go to the website and click on "programs" on the home page. You should be able to find the address by doing a search...
What federal income tax percent should my employer deduct from my wages
i don't think its to smart to write where you work and live in your question?! By the way you write I assume you are not from this country even! INS 911!
Taxes are taken out of a paycheck depending on a formula issued by the internal revenue service. It depends on the size of the paycheck. Being in high school has nothing to do with it. Frequently, high school students work for brief periods of time so they will have most or al of their taxes...
  == Answer ==   Absolutely. In fact, sometimes it's required.  Like anything in tax filing, not doing it correctly could easily mean the wrong result. In this case especially that you double pay or lose benefits between you.
New York state ... If you live or work in the City of New York there is a local tax as will as in Long Island ...
Assuming that the filing status is single with three deductions,  the take home pay for $760 paid every two weeks is approximately  $660.00. If married is claimed on form W-4 then the tax withheld  will be lower, and net pay increases.
Talk with your payroll clerk.
The answer is "Yes", you may claim up to 3 children this year. Meaning 2009. You can verify this information by going onto irs.gov. I have four children and have done research on this. I will be claiming all three, plus receive an additional child tax credit for the fourth child.
  A tax audit is conducted to ensure that you have paid your fair share of taxes on the money that you (or your company) has earned. They look at revenues, to ensure all are declared, and expenses, to ensure that they are all legitimate.
The full answer is long and complicated and the exact details of your situation may matter quite a bit. The IRS provides a toll-free number for tax help. I've added a link in the Related Links section.
Tax form 2290 is a Heavy Vehicle Use Tax (HVUT), a federal excise  tax paid annually on motor vehicles with registered gross weight of  55,000 pounds and over. This tax is paid by inter-state and  intra-state registered vehicles. IRS has made it mandatory to  e-file IRS Tax Form 2290 (e-filing...
As long as you meet certain requirements, the answer is yes. See this publication of the IRS for the requirements that must be satisfied to claim her as an exemption:http://www.irs.gov/publications/p17/ch03.html#en_US_publink1000170933
Yes. The Flexible Spending Account is simply a before tax method of paying for medical expenses and it has no impact on unrelated tax items. Use of the FSA does prevent being able to also claim a medical expense deduction. The childcare tax credit is unrelated and can be claimed.
Yes, the entire state and federal refund can be seized for payment of child support arrearages.
My mother died at age 89 she had a income of around $60,0000. a little less pensions social security ect. she had been paying quartley around 5to 6,000.00 total. That seems to me too much right or wrong concerned daughter
The requirement to file an income tax return is not determined by whether you owe taxes or not. For example, if you have net self-employment income of more than $400, you must file. If you are subject to Alternative Minimum Tax (AMT), you must file.   You may want to file -- because you will get...
A creditor cannot seize a federal tax refund, but the creditor can file a lawsuit and if they are awarded a judgment they can levy the bank account in which a tax refund is deposited.