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Tax Refunds

~2700 answered questions
Parent Category: Income Taxes
Tax refunds refer to the amount returned to the taxpayer after the taxing authority determines that the actual tax paid is greater than the tax liability. Taxpayers can usually avail of the refund at the end of every financial year.
Yes, State Income Taxes are deductible against Federal income; not the amount you owe the state, but the amount you actually paid through withholding, prior year credits, payments with the prior year state return, and/or estimated payments, during the calendar year for which you are filing Form 1040…
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%DETAILS% Yes, but unfortunately it is tax evasion on your part too. I had the exact same thing happen to me. I bought a car for $3500 10 years ago, and the dealership wrote it up at $750.00, claiming it would save me money. What they really did was two-fold. 1. In most states, the lemon law/…
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IF you got the "surplus" refund, it should have been payed off. You must have had a lot of equity(down payment) in the car to get a refund.
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They WANT it in as large of amounts as possible but they take what they can get. wage garnishemnt can only take 25% of your DISPOSABLE income. You should get a notice telling you what they can and cant do.
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%DETAILS% If this is a contract sale of a motor vehicle, then Indiana Code 26-1-9.1-609 "Secured Party's right to take possession after default". In Indiana - self help repossession is permitted as long as there is no breach of the peace.   WHOOPS - you want to be a repo man. There are no …
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It makes it LOWER. 2 ways. Get it taken off or wait until it goes away.
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it depends on what state you are in , some states require banks to send you a right to cure via certified mail demanding you pay the past due balance or the vehicle will be repossessed, as far as the middle of the night, well when would you expect the repoman to come. your personal property that's i…
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Andrew Divoff From Wikipedia: Andrew Divoff has played many villains in film and on television and is best known for playing Djinn in the first two films of the Wishmaster series. His films range from Another 48 Hours, The Hunt for Red October and Toy Soldiers. Andrew Divoff's TV guest appe…
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There are companies who do this every day. They are called REPO companies. Or Collateral Recovery Agencies. Well, you can alarm the police about it and your cars plate registry would be blathered nationwide. You can file a case against the owner/buyer depending if you had arrangements or contracts…
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      You would need to see if you had been reported to SCAN.
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You must include all reportable income on the final tax return. Under section 61 of the Internal Revenue Code, forgiveness or discharge of indebtedness is gross income for tax purposes, so looks like that is what you need to do.
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Yes. It could be written off as business expenses before the debt was collected and adjusted on tax forms afterwards. It really depends on if it was reported as a loss or an expenditure attributed to business dealings. A prudent person would probably leave it as a business expense write off, to avoi…
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A collection agency has no legal powers. Some agencies are collection attorneys who can file lawsuits. Regardless, no one can seize another person's property without due process according to the persons state of residency laws. In other words they have to take you to court, win a judgment, execute t…
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How to file for bankruptcy online The following paragraph sounds very intimidating to a bankruptcy consumer, but in reality, it is not. The stack of forms to file bankruptcy is about 1/4 inch thick, there are Mandatory Credit Counseling and Debtor Education courses to take, and a Meeting of Credito…
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It depends on the individual. Your lawyer should be able to answer this question the best because they know the situation. I had this same question. My lawyer told me that no they will not take tax refunds. However, if you owe student loans to the government they could take your refund. I had no pro…
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You need to discuss this with your attorney. Once you receive your tax refund, it's part of your personal assets that could be seized to pay creditors. If you file bankruptcy before you get your taxes then the government will keep your tax refund and put it towards your debt. The bankruptcy court h…
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Normally no. What is most likely to happen is that your bankruptcy will be dismissed for failure to comply with the Trustee's request for the documents.   I agree with Nate; failure to produce the tax refund normally results in dismissal rather than in criminal proceedings. However, if one sp…
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The trustee has several options, but the one you need to be concerned with is REVOKE YOUR DISCHARGE then have you charged with bankruptcy fraud by the F.B.I which rarely results it jail time, but could carry a fine up to $10,000 with a possible felony record.If you can't afford to pay the bills you …
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No. But it could possibly depend on whether or not the BK was accepted. Dependent on how much the refund was and what it was used for. In general, only the assets that you have at the time you file are included, not monies already spent.   No, But if you file, next year you will possabily hav…
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Yes, but beware of the bank or the recipient of the check claiming Fraud.
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No, if your BK (assuming this is a Ch. 7) is discharged, the money is yours. The only time you would have to surrender the refund is if you were expecting a refund during or shortly thereafter from when you originally filed.
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I think it depends on when your debts are discharged. If they were already discharged, it was a Chapter 7 bankruptcy, and it wasn't discussed at the creditors meeting, then the refund is yours. Besides, imagine if you filed on April 15th. You might not get your refund until later June or almost July…
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Yes. For 3 years. They do not take it all. You will get to keep your EIC and certain other credits that may be given that year. This is per my bankruptcy lawyer.
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This may not be helpful at all, but for what its worth... I have no idea what the exemptions are like in New York, but in Indiana, trustee's couldn't care less what the debtor intended to do with the refund check. Indiana law says you get to keep $100.00 of cash per debtor, period. Anything above th…
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Chapter 7: This chapter of bankruptcy law provides for a full liquidation of an entity's non-exempt property to satisfy creditors, and discharges all dischargeable debts This is a legal process under Federal statutes that provides for rehabilitation of a debtor through the discharge of certain debt…
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The answer to this question isn't cut and dry, since the trustee can reach quite far into the future to get an asset if they think the debtor had the asset during the bankruptcy case and failed to disclose it or accuratelt represent its value. But, assuming it is truly an unexpected windfall, I thi…
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No, the seizure of tax refunds both federal and state can only be done with a court order pertaining to circumstances specified under state and/or federal law. An example would be the seizure of the tax refund to pay court ordered child support that is in arrears.
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Liens are only used against real property. It might be possible to levy the person's bank account. MSJ are issued by judges and are often easily overturned.
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Yes, the entire state and federal refund can be seized for payment of child support arrearages.
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Filing Return While in Bankruptcy Yes, you still have to file your taxes as usual. Any refund will probably be appropriated by the trustee and treated as a nonexempt asset, which will be used for repayment of creditors. Adding As indicated, this is one of your assets and must be disclosed to the…
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Start by getting a copy of your credit report. If you are trying to pay off debts, you might also want to make sure that if you move, you notify the post office of your change of address, so that any future bills will be mailed to you.
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Taxes and Shared Parental Responsibility No, it's however the parents agree at the time of separation. The court papers will indicate how it should be done.
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Answer DO NOT send them the IRS refund check under any circumstances. An IRS refund is considered an asset and should be relinquished to the probate court as such. If the state does not require probate procedures in this specific case, contact the IRS office for instructions on the proper procedu…
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You can usually pick up a set form the local bankruptcy court. You can also purchase a set and a paper goods store like Staples or office Depot. You can also purchase them online. It is really difficult to do on your own, so please consider contacting a qualified bankruptcy attorney.   The fi…
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Yes they will intercept your taxes until that balance of back pay is paid and current. Then once you are paid you may have to ask that state that intercepted your tax returns to do a tax offset review. Give all documents that show you have paid and or current, then they may dismiss the lien against …
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Answer Though no one "wants" to file bankruptcy, your question is valid. An income tax return is usually looked at as a lump sum of money to help get back on one's feet. A down payment for a better car, a vacation for a family, etc. If you file a chapter 7, then no, you will not have your tax ref…
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I doubt it and serves them right for having sold something to an illegal alien in the first place.  Anyone can go after anyone else in a court of law for anything they want. So I guess the quick answer is yes they can go after you. What you are asking is can they collect once you run and hide …
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YES. All of your property is considered in a bankruptcy. Your creditors have every right to get at ALL of your property including your business assets. I would be very surprised if the court didn't order the sale of the business to satisfy the creditors demands.
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Answer Do you mean you believe you are owed refunds? Or that you failed to file your taxes for the incomes for those two years 2002 and 2003 and you may owe the IRS. Either way you should contact a tax preparer or contact the IRS, they do have help lines: Such as 1-800-829-1040 IRS Tax Help Lin…
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Answer ON a federal return the standard deduction for 2005 is $ 5,000.00 and single, $10,000 married filing joint and $7,300.00 for head of household. You would have to have more this for it to help. State vary by states. So, if your intemized deductions are more than the base amount for the yea…
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Answer yes you can but if either one of them get a job and the next year want to claim their son one of you all is going to either go to jail or pay back some taxes so you should just leave it alone because unless they know that your going to do that its not a good idea Answer Would it be alr…
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Answer Yes. (Although in fairness, it isn't the IRS taking it, it is the IRS can be instructed to give it to the government agency you owe).
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The child would have to have their tax return amended and repay any money that they should not have got. If the parents also filed incorrectly, theirs would have to be amended as well.
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No, neither federal nor state tax refunds are subject to creditor garnishment or seizure. Tax refunds can only be seized or garnished for, taxes that are due, child support, federally funded student loans and in some cases spousal maintenance (alimony).
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Y nsible to pay the difference, even though you will have nothing to show for it. If you do not pay, the bank/lender will file for a judgment against you and (where allowed by law) will have the right to place a lien against your home or other property and/or garnish your wages and or attach your …
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Answer No. If you give your kid money, this doesn't make this money a write-off on the parent's tax return. Answer Basically, everything you give your child..food, clothes, allowance, etc is a gift...but like most all life expenses, it isn't deductible! What you may be thinking of is th…
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Answer If you are due a refund for taxes filed for the 2005 tax year, that refund can be siezed to offset the student loan - and every refund after that too.
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There is no minimum if you've had taxes taken out and you can claim a refund, i.e., if your income is low enough and you don't owe any tax, even if you're not required to file a return, you can claim a refund for what you've paid in.If I am not mistaking , If you make under 10,000 you will get money…
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No, I doubt it. Taxes are different than income. You get the child tax for having kids, and refunds for overpaying on your taxes.....Taxes which you have to pay on income. It isn't like an inheritance or extra profit.
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Answer When a taxpayer owes back taxes or penalties the IRS always contacts them in written form. There will be a cover letter on official IRS stationery and additional information such as forms that can be used for disputing the claim, requesting a payment schedule and so forth. They may also c…
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Answer Depending upon the amount of time between the filing of the BK and the filing of the tax return; a refund may be pro-rated to determine the portion that is included as a BK asset. And if anything, the portion to be taken by the trustee is the part relative to before the filing. Follow: Pr…
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They may not be able to as for your tax refund because they have freed you of all obligations. However, you need to read the paperwork and make sure there is no language that gives the right to go after the money in the future.
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Answer The quick answer would be no. Any money received prior to filing would not be included in your bankruptcy estate and this, not recoverable by the trustee. Any money still owed to you would be part of the estate and would be collectible. What I would want to know is if the money was complet…
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Answer Yes, and depending upon the type of false information given "trouble" might be an understatement. Another Answer: What if the mother is the one who lied to get more child support but refuses to let you see the kids and court officials don't do their job and allow her to keep up her crap?…
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Your bankruptcy trustee has the right to receive your share of the inheritance within 6 months of filing your case. The trustee has the right to receive it all. Typically what happens though is the trustee receives the full amount and then makes a determination of how much is needed to satisfy your …
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Answer File paperwork for help from a Tax Advocate - a division of the government, NOT associated with the IRS aimed at helping individuals with tax issues /problems.... Beware - their help is limited but they may at least be able to get you an extension / point you in the right direction at no c…
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Must have been perhaps an annuity settlement? Or was there a judgement? Call the insurance company's main office, and start there, do you have any information at all? Such as the claim number etc? If you have trouble finding the company let me know specifics and maybe I can help you find out the con…
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If the lender has placed a judgment against you for the deficit balance (balance left after the car is auctioned/sold), then yes in most states, they can take the tax return and apply it to the balance owing.
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Answer If the refund was made out to both spouses then it belongs equally to both unless or until a court rules otherwise. If the ex-husband forged the wife's signature and cashed the refund check he may have some explaining to do on several levels. Be that as it may, the injured spouse's only …
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Answer H&R Block's starting pay is different at each office. The offices are independently owned and operated so the pay varies. I work at an office in MI and the starting pay is $11.00 for a first year tax pro. And depending on one's ability, first year pros do schedule C's, (Small business …
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It is a federal offence not to file your taxes. Is he trying to land you in jail? Is he willing to pay a hefty fine for you not filing. Did you know that you can file separately and it will not affect him. The only difference with a joint filing is a bigger return ( if your combined monies put you i…
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In British Columbia, Canada our Revenue Canada is quite lenient, but they want their money. They make every effort to let the person pay back taxes in installments, but, should that person goof off and not make any attempt they will find their butts in court. They can go back 7 years (Statute of Li…
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Answer Tax evasion is a very serious issue. If the IRS charges someone with tax evasion takes them to court and wins the case (they almost always do) the involved parties can literally lose everything they own and can be subject to imprisonment. DO NOT contact the IRS. The best option is to sp…
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she lives in brooklyn NY
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In theory the non citizen spouse is not required to file a return, but the other spouse as a citizen has only two choices: either married filing joint or married filing separate. Most likely you will probably want to file jointly so that you can claim your spouse's exemption amount as well as being…
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The IRS only seizes personal tax refunds when there are tax arrearages or court ordered child support arrearages. The IRS does not have the power to withhold personal tax refunds for creditor judgments. ACTUALLY THE IRS CAN HOLD YOUR REFUND FOR CREDITOR JUGDEMENT DEPENDING ON THE AMOUNT OF THE DE…
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No if it is for creditor debt.Yes if it is for child support or tax arrearages.
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Answer Officially: A person, other than the taxpayer or the taxpayer's spouse, for whom an exemption can be claimed. To be your dependent, a person must be your qualifying child or qualifying relative. For more information, see Exemptions for Dependents in Publication 501. And I'll try to p…
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Tax refunds cannot be directly seized by a creditor judgment.The IRS can seize tax refunds without the use of due process for federal taxes owed.State and federal tax refunds can be seized for child support arrearages.
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The answer is: HELL NO I DO IT ALLLLLL THE TIME o to make it better have sex while doing thm ;D
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Answer Federal tax refunds can be seized by the IRS for tax arrearages without the normal legal procedures being used. Federal and state tax refunds can be seized by a state child enforcement agency for court ordered child support arrearages. Tax refunds cannot be seized for creditor debt, for …
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Filing Federal Taxes OnlineThe reason is, the majority of taxpayers cannot file their taxes online for free, you must be qualify under the IRS guidelines.Visit the IRS website for complete information. Filing TaxesWhether it be on line and efile, or by paper..many people find taxes, in fact any…
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Answer You will need to file an amended return, and the quicker the better. If it is for a very recent tax year, you may be able to avoid any interest charges. Do not forget you may have to do a similar process for your State. Officially: If you discover an error after your return ha…
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Answer One consideration would be that cancellation of a debt becomes income. However, as you can find in many discussions here, if your foreclosed and the sale of the property does not return enough funds to fully satisfy the debt, the deficiency is normally not forgiven. Instead you remain owin…
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Answer It depends on who garnished your wages to begin with. If it was the taxing authority, your state Dept. of Tax, or the IRS, yes the garnishment will include your tax refunds, if the Agent you're dealing with knows what he's doing. Only the government or a judicial court can take a tax refun…
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If the judgment is for state or federal taxes then any refund is subject to seizure by the agency holding the judgment. If it is a creditor judgment, a tax refund would only be subject to attachment if it were placed in a bank account that was being levied by the judgment creditor. I would consult w…
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when i file a business bankruptcy are nsf checks covered? payroll and to vendors Before filing for bankruptcy, remember that it remains in record for 10 long years. Meet good financial lawyers to be able to handle this issue properly. I know financial experts who offer free consultation regarding…
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Answer Contractors' Bill and Charges The key word here is "contractor". The question of the size of the employer's workforce becomes moot when (s)he must deal with a contractor; because, a contractor is not an employee. Those things which govern the actions of and expectations from an employee by…
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You need to get the yellow pages and look in, ATTORNEYS, look for one that specializes in bankruptcy.In some states it may require that you have an attorney in order to file bankruptcy. In the state of Oklahoma you are not required to have one. My advice is for you to contact the court house in whic…
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Yes, if you have defaulted on a student loan your taxes can in fact be taken by the government to repay the loan. Please note that they will also charge additional interest as well as penalties. If you have made payment arrangements with a your guarantor once you have made 4-6 consecutive monthly pa…
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Answer Obviously this can only be addressed on a generally basis, many factors - how well the return is prepared, how complex it is, etc. effect it. Normally refund checks take a 4-6 week process. Electronic deposits, are faster. When you say "file late", that is generally interpreted as in afte…
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Answer No, you still owe the government. Ans Bankruptcy proceedings begin with the filing of a petition with the bankruptcy court. The filing of the petitions creates a bankruptcy estate, which generally consists of all the assets of the person filing the bankruptcy petition. A separate tax…
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como subio y bajo los precios en metro pcs desde ano 2004 al 2007 Ans I believe that the IRS maintains it's right to offset (that is clearly legal/proscribed) and what is being done in something like this, even in cases of BK. Whether that right is absolutely always allowed may be another story...b…
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I normally take around 30-35%...it depends on the market. Currently with the NSW Police upping their patrols in the Mayfield and Islington area, business is down around 18%. As such my cut has dropped to 25% to allow fair trading. 100% as any true pimp....100% always
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Answer That you are asking implies you may want to get some additional guidance. The 1120 series is used to file C corp returns. Each co in the group should have it's own entire pro-forma return made, and an elimination Co made on the Consolidating schedules for tax to produce one combined entit…
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Answer Typically a notice via mail is issued prior to the filing period alerting the student loan or child support debtor that their refund may be taken in whole or part to repay these obligations. 1-800-304-3107 is the best way to find out...it's automated.
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Same as any other...the source of the income is different. Some different things may be applicable to fill out... Those that are self-employed will have to pay self-employment tax four times a year. This ensures you that you will not have to pay one lump sum at the time your last return is filed. …
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This is a fault also known as breathing. Too much sound compression can cause the compressor/limiter circuit to engage and disengage rapidly.
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The 10p coin is minted from an alloy of 75% copper and 25% nickel. The 1968 version of the coin weighed 11.31 grams and had a diameter of 28.50 millimetres. In 1992 a smaller version weighing 6.50 grams and with a diameter of 24.50 millimetres was introduced. Apart from the reduction in size, the co…
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Answer Canada sucks with Real Estate investments due to a Hefty Tax that is imposed on non-residents. Real Estate investments in Los Angeles, San Francisco and Washington seem to have less risk and more gain in equity. Once again I'd recommend not to invest in Canada due to its tax laws.
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Answer You still need to file if you meet the minimum income requirement for your circumstances. US citizens are taxed on their worldwide income, although you may be able to qualify for the foreign earned income exclusion. Even if you qualify for the exclusion and subsequently have no taxable inc…
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In order to file a joint return, the parties must be married at the end of the year, living together in a recognized common law marriage, or married and living apart but not legally separated or divorced. You can also file a joint return for the year in which your spouse died. But that is only the o…
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The following link is to the USPS and you can change your address online: https://moversguide.usps.com/icoa/icoa-main-flow.do?execution=e1s1
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Answer As it has already been done, very little. It is earnings in that year. It is unlikely it would push you to a much "higher tax bracket", as there really are only a few brackets! (And the low one drops off at about 18K). So, while you may be paying more cash this year, your probably paying …
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When you file a mutual bankruptcy, you and your partner file a single set of bankruptcy papers with the court. In your bankruptcy appeal, you release all property, debt, income, and expenses you have between both you and your partner.
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