that depends on how they pay their tax.
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
Exempt them from tax? Federal refunds were paid with after tax $ and aren't taxable..but they are reported. State ones are, as you got a deduction for them when paid. There is no option to exempt them.
There are plenty of aids to assist you in calculating your tax refunds. This one should suit you perfectly: http://www.1040.com/tax-tools/tax-estimator/
TurboTax uses Bank of America for the deposit of tax refunds. Your tax refund is deposited in a Bank of America account and then transferred to your personal account.
Most definitely.
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
If they paid taxes, they can file a tax return and, provided they are eligible, receive a tax refund.
Most people file for their federal tax refunds from past year finances in the January to February period. You can file by submitting a request form to IRS.
One can find online info on tax refunds on websites such as Turbo Tax, Canada Online, Kiwi Refunds, Tax Payer Service Center and many others as well. It can be easily found on government websites.
Exempt them from tax? Federal refunds were paid with after tax $ and aren't taxable..but they are reported. State ones are, as you got a deduction for them when paid. There is no option to exempt them.
There are plenty of aids to assist you in calculating your tax refunds. This one should suit you perfectly: http://www.1040.com/tax-tools/tax-estimator/
Tax refunds are refunds that are issued to you by the government when you have paid more taxes than required. This is calculated when your income taxes are filed, and some people qualify for a refund while others may owe more money than they have already paid. Here is a more detailed explanation:
You can find information on state tax refunds at turbotax, or tax act websites. You can also go to the IRS website as well.
No.
TurboTax uses Bank of America for the deposit of tax refunds. Your tax refund is deposited in a Bank of America account and then transferred to your personal account.
Governments
Most definitely.