0
If you never owed any, that's fine. Of course, like most that way, your basically poor enough and unsuccessful enough that it makes little difference anyway. Except of course that you missed out on the many benefits for low income people that they get by filing.
If you have somehow managed to make a good living and still not paid taxes, first...you probably have and as generally happened don't understand the simple system well enough that you just never filed and got your refunds....it's fair to say that a majority of practioners find that when people come to us saying this, they have almost always actually had beenfits coming had they filed (payments are almost automatic before you even get money).
And otherwise, if you think your making money and not paying/filing, actually - your simply a criminal...a tax cheat...and likely will sooner or later be caught and have all types of problems...or want need benefits (Social Security, medical, etc.), and of course have them all denied because you never were part of the programs. (And apprently, not saving an investing, because those would have tax reporting that would become backup withholding....again money paid in you never filed to receive back).
You may be best getting individual legal help to find out what your situation really is.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the difference between gross income and net income?
Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
If 1.300 dollars were paid in last years taxes on my car shouldn't you get it back in this years taxes return?
Well Yes & No. Sales taxes are not a deduction for Federal purposes normally. Property taxes never are. So, you would normally never receive them in any year...and certainly never a different year.However, under a very recent law (I believe effective 07), sales taxes paid can be used instead of state income taxes paid. (Done to give a chance at tax deduction for those people living in States without an income tax, so hence relyiong on a sales tax). There are charts to use that provide an estimated sales tax paid that IRS will accept, instead of keeping receipts for every one, to which you can add "exceptional" sales tax amounts, like cars, boats, etc...and if it is higher than the State Income tax you paid, use that instead of income tax deduction for Feds. Of course the deduction for the Sales tax would only be applicable for taxes PAID that year for that return.Under no circumstances do you "get it back".
Do you pay taxes on income earned in an annuity?
If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.
If you get paid under the table and want to claim that income on your taxes can you do that without getting in trouble because you did not pay any taxes on that income?
You can get in more trouble NOT reporting it. It is absolutely law, and one they enforce and care about, that you report your earnings, regardless of whether the one paying you or not does. Once you report it, you will have it as taxable income, although if you will actually pay any tax is another matter.
May I deduct the amount of underpayment paid for previous years tax return?
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.
Is inherited cash taxable income?
No you do not pay any taxes on it but the estate may have already paid taxes if the estate is large enough
What is the difference between gross income and net income?
Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
Do you pay taxes on pension at 65 years of age?
this depends on how much you make (ie other income) and not on the age of a person. There is no cut off age to taxes but depending on the income level there may not be any taxes that need to be paid.
If 1.300 dollars were paid in last years taxes on my car shouldn't you get it back in this years taxes return?
Well Yes & No. Sales taxes are not a deduction for Federal purposes normally. Property taxes never are. So, you would normally never receive them in any year...and certainly never a different year.However, under a very recent law (I believe effective 07), sales taxes paid can be used instead of state income taxes paid. (Done to give a chance at tax deduction for those people living in States without an income tax, so hence relyiong on a sales tax). There are charts to use that provide an estimated sales tax paid that IRS will accept, instead of keeping receipts for every one, to which you can add "exceptional" sales tax amounts, like cars, boats, etc...and if it is higher than the State Income tax you paid, use that instead of income tax deduction for Feds. Of course the deduction for the Sales tax would only be applicable for taxes PAID that year for that return.Under no circumstances do you "get it back".
Can you get a rebate for the taxes you paid when visiting Florida?
I'm sorry but there is no such of a tax rebate for any taxes paid in Florida. The taxes you paid in Florida consist of sales taxes, motel/hotel taxes, and all of these are higher because the state of Florida has no income tax of their own so they hit the tourist and you aren't getting it back.
Can I get out of paying my back taxes?
Paying taxes varies by your income bracket and the state that you live in. Any taxes that you do owe must be paid to avoid your wages being garnished and other harsh penalties.
Can property taxes paid 2007 for 2006 be deducted for 2006 taxes?
No. In the U.S., individual taxpayers are generally considered "cash basis" -- that is, we claim income the year in which we receive it, and expenses the year in which we pay them. So, property taxes paid during 2007 for any year are deductible only on a 2007 income tax return.
Do your race have any bearing on your federal income taxes?
Race does not have any bearing on US Federal income taxes.
How many Americans paid income taxes in 2007?
depending on your definition of any of those terms, The Statistics of Income can probably get you there. Link below: http://www.irs.gov/taxstats/index.html
You are 27yrs old and made 1700 can you file taxes?
Anyone can file a tax return with any amount of income. You may want to do this if you paid in withholding taxes or you qualify for some credit that will benefit you. You are not required to file with this amount of income but you can if you want to.
What is the difference between 1099 and w2?
You get a W-2 form from an employer who pays payroll taxes. You get a 1099 from someone who paid you, but did not pay taxes on the money you were paid. This means that any income you get on a 1099 must be paid at a higher self-employment tax rate.
Do you pay taxes on income earned in an annuity?
If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.
