That would depend on the laws that apply in the country in which you live. However with an income of 30,000 units of some currency, it is probable that you would have to pay tax, not get a tax refund.
If you are single, NOT a dependent, dont have any dependents, then it would go something like the following.... Pleas note that this calculation is assuming that the $30000 are from a w2. 30000 -9500 Standard deduction and personal exemption =20500 Taxable Income 2654 Tax -6000 withholdings =3346 Aproximate Refund.
That depends on how many dependents that you claimed during the time that you drew pay.
There are too many variables to answer. Are you filing single or married? What deductions do you have? How many deductions on your W-4? How much did you pay in taxes? Where you a private contractor or an employee? Consult a tax preparer or tax attorney to find out what works for you.
It is virtually impossible to answer this question without specific details. Your tax return will depend on how much money you made and paid in taxes throughout the year. It will also vary if you have dependents, if you are claimed as a dependant, if you are married, have a mortgage, are self employed, and if you claim credits such as the hope credit.
how is interest calculated on back taxes
If you are single, NOT a dependent, dont have any dependents, then it would go something like the following.... Pleas note that this calculation is assuming that the $30000 are from a w2. 30000 -9500 Standard deduction and personal exemption =20500 Taxable Income 2654 Tax -6000 withholdings =3346 Aproximate Refund.
That depends on how many dependents that you claimed during the time that you drew pay.
This would depend on a lot of other factors. What taxes were already paid to other things such as dependents and other deductibles.
if you claim zero on your w4, they will take the most taxes out of you. If you have dependents and you add them on when you do your income taxes, you will get that money back. even if it is just you, you should claim zero instead of one, then at income tax time you will not have to pay in, you should get back what you overpaid instead. The more dependents you put on your w4, the less taxes they will take out of your check, but at income tax time, if they did not take out enough you will have to pay in. And like me, if you like a big, big check all at once you want to claim zero, its like a way of saving money, and you get the money back at income tax time to do something big with.
The answer to this depends on what state is involved, why there has to be any "pay back" (i.e., misrepresentation or ?) in the first place, etc. And as to the taxes not taken out, whether there is a tax liability depends on other tax issues such as deductions, dependents, etc. Check with a tax preparer for clarification.
There are too many variables to answer. Are you filing single or married? What deductions do you have? How many deductions on your W-4? How much did you pay in taxes? Where you a private contractor or an employee? Consult a tax preparer or tax attorney to find out what works for you.
By making an amount so low that you're exempt from taxation.
It is virtually impossible to answer this question without specific details. Your tax return will depend on how much money you made and paid in taxes throughout the year. It will also vary if you have dependents, if you are claimed as a dependant, if you are married, have a mortgage, are self employed, and if you claim credits such as the hope credit.
If your annual gross income is $1600, even without any dependents I'd normally expect you'd get a refund of any taxes you actually paid. However, since you didn't provide that number, we can't tell you how much you'll be refunded.
how is interest calculated on back taxes
You won't get money back in taxes, you will get to subtract your medical expenses from your taxes. This will lower the amount of taxes you pay.
For major financial problems such as back taxes you should contact a chartered accountant with experience in dealing with back taxes. Their experience will ensure that you get your back taxes resolved with the least amount of trouble.