Want this question answered?
An income tax refund is money that you receive back from the government from all the withheld taxes that were on your employment income. You usually receive this money through your bank or in the mail.
By having some income withheld from your worldwide income and then filing an income tax return to claim a refund of some of the amount that may have been over withheld. More than your federal income tax liability on all of your gross worldwide income.
No, when filing for the state income taxes, you will receive your federal income tax refund as well as your state income tax refund.
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
Sure you can and it is possible that you would want to if you had any federal income tax withheld from your gross income because it is possible that you be due a refund of the FIT amount that was withheld.
An income tax refund is money that you receive back from the government from all the withheld taxes that were on your employment income. You usually receive this money through your bank or in the mail.
You do NOT have any amount that is withheld from your net take home paycheck after it is issued to you. The amount that is withheld is calculated on your gross earnings for the pay period and is a advance payment of your possible future income tax liability. After your income tax return is completed correctly and IF the amount that is withheld is more than your federal or state income liability then you will receive a refund of the over withheld amount.
By having some income withheld from your worldwide income and then filing an income tax return to claim a refund of some of the amount that may have been over withheld. More than your federal income tax liability on all of your gross worldwide income.
No, when filing for the state income taxes, you will receive your federal income tax refund as well as your state income tax refund.
Yes and if any federal income tax was withheld from the earned income the minor could possibly receive a refund of some of the withheld FIT amount IF the minor files a federal 1040 income tax return and it is completed and filled out correctly and signed by the minor.
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
Sure you can and it is possible that you would want to if you had any federal income tax withheld from your gross income because it is possible that you be due a refund of the FIT amount that was withheld.
Not if you did not have some income tax withheld from some type of income or if you are qualified for some type of refundable tax credit.
No unless you have earned income you can not receive a refund.
Refund
If you made 67 dollars, what kind of tax refund do you think you might be entitled to receive. If you had a small amount of federal or state tax withheld, you may file to get this back, but that is the only tax refund you will receive. You probably did not have any taxes withheld on $67.
Yes it is possible that you could receive a refund. For the unemployment benefits that you received last year you should receive a 1099-G from the state showing the total amount received during the year and the amount in excess of 2400 will be entered on line 19 page 1 of the 1040 tax form and added to all of your other worldwide gross income and taxed at your marginal tax rate. You will also receive a withheld income tax credit for the amount was withheld and reported on the 1099-G by entering that amount on the page 2 of the 1040 tax form line 61 Federal income tax withheld and added to any other federal income tax that was withheld from other sources during the year 2009.