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In order to compute the income taxes you owe the federal government this year your employer is required to give you a that lists your earnings and withholding for the past year.?
Yes! If you are in default of a student loan, your federal income tax will be taken every yeare until the loan is satisfied. At least, that was my experience.
Employer gives you a statement called a w-2 form. It's not a list. It gives you the total amount of witholdings and the total amount of earnings for 2007. If you worked this year, you'll get that statement either in Dec. January or Feb. of 2009.
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Yes. This is done to figure out what you need to pay, if you indeed owe taxes . If you are constantly paying income taxes, then you are not having enough taken out of your… paychecks.
Yes. You could choose not to, but that tends to come with legal consequences.. I do income taxes for friends and family - not a professional filer.. - CRA is running a "tab"… on your account... ie the debit is collecting interest, and depending upon the cause of the outstanding tax, possible penalties.. - When you next file, they will be expecting payment on the past debit.. - When it comes time that the government owes you money (Old age, child tax benifit, HST rebate etc, they will deduct the tax owing until the tax is paid.. - The filing that you make this year is dependant upon the incomes of this year, not the past history. So I interpret this to say "no you don't HAVE to file this year if your income level etc doesn't require it.. But remember - I am not a professional and may be wrong. Personally, I would file anyhow! Filing doesn't change the past "owings".
Well yes, and it can even be done retrospectively, or more than once a years, but it requires enacting law changes by Congress. Not normally an easy or fast process at best. P…olitically, changes in tax rates - especially up - are very difficult..the changes normally are to things like definitions...what is taxable..not to rates.
Generally, yes.. On the State level someplaces they may not be.
Absolutely, and many more things concerning payroll, etc...adhereing to the rules for this.. And of course, people are rerquired to make estimated payments toward their event…ual tax liability (through withholding or other means, all absolutely completely described), or face substantial penalties, interest and other problems.
They use the Form W-4 that the employee fills out and gives them and then they look up the amount to be withheld in Publication 15 (a.k.a. Circular E).
may charge OR do you mean may change the rate each year YES they can and do this each year.
Federal Income Tax Social Security Insurance Tax
Why does the government asks employers to withhold tax money from each paycheck instead of requiring taxpayers to pay a full years taxes all at once?
First, even many, many of those people who had withholding from paycheck throuh the year, and then find they are a little short of what they ultimately owe (for whatever reaso…n - other income, good investing, claim to have too many exemptions on withholding, etc.) have a great deal of trouble getting even those small sums to pay the tax. They are - like so many - perpetually broke and can't/don't save money. They would be broke even if they had more money, always will be. (They would spend the money they need to pay taxes...but they need that money to py taxes...where will it come from?). And of course, the government needs the income through the year too...it pays it's bills all the time, not just annually.
In order to compute the income taxes you owe the federal government this year your employer is required to give you?
You need a W-2 form.
In order to compute the income taxes you owe the federal government this year your employer is required to give you what form?
You need a W-2 form.
social security tax
SOcial Security Tax:D
In Income Taxes
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
In the year 2009 about 95 million online and in 2010 the IRS is expecting about 145 million returns to be filed online.
What happens if an employer did not withhold federal income taxes from your checks even after being questioned as to why not?
Its pretty simple "You owe money to the FED. GOV no matter what" consequences of that scenario is you will have to pay to IRS when you file you're taxes at end of the year.
The Fact, the truth is that the Government is just making people fool, real concept or collecting taxes is to help the poor people of the country, but Governement is taking be…nifit of silence of uneducated and illiterate people that all the money is tax money is used for for their luxury.