0
Yes of course. Why wouldn't it be?
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Is mileage reimbursement for an executor of an estate taxable?
No it is not considered taxable. As long as the reimbursement meets the current IRS standards, it is not considered income.
Can the IRS seize a pension if it is your only income?
Yes some pension income can be seized by the IRS.
What happens if I didn't claim income and the IRS finds out?
if the IRS finds out that a person does claim income, the IRS can audit the person. If audited, the person will have to go in person to their local IRS agency and explain the situation.
Is a 4 dollar per delivery payment to a driver for a Chinese restaurant considered taxable income or a reimbursement by the IRS?
It is simply taxable income, whatever he gets paid however you want to call it......the IRS does NOT reimburse...nor could i imagine what you think they would reimburse for?
What is a 1099-C from a creditor?
It is the notice given to the debtor and the IRS that the debt has been cancelled. The amount of the debt is now considered taxable income under IRS regulations and must be included on the debtor's tax return.
What are the different IRS 1099 forms used for?
IRS 1099 forms are used to report income that can not be reported elsewhere or considered miscellaneous income.
Is it illegal to deny receiving cash or gifts to the IRS?
Yes, it is illegal to deny receiving cash or gifts to the IRS. This could be considered tax evasion or fraud if the cash or gifts were not reported as income on your tax return. It's important to report all sources of income to the IRS to avoid penalties or legal consequences.
Is unemployment income considered compensation income for Roth contribution?
The IRS says no. See the Related Link below for more information.
Is mileage reimbursement for an executor of an estate taxable?
No it is not considered taxable. As long as the reimbursement meets the current IRS standards, it is not considered income.
Can the IRS seize a pension if it is your only income?
Yes some pension income can be seized by the IRS.
What happens if I didn't claim income and the IRS finds out?
if the IRS finds out that a person does claim income, the IRS can audit the person. If audited, the person will have to go in person to their local IRS agency and explain the situation.
Is a 4 dollar per delivery payment to a driver for a Chinese restaurant considered taxable income or a reimbursement by the IRS?
It is simply taxable income, whatever he gets paid however you want to call it......the IRS does NOT reimburse...nor could i imagine what you think they would reimburse for?
What are the 2 kinds of income?
Earned income wages, salary, self employed, etc.Unearned Income.Go to the IRS gov website and use the search box for What is Earned IncomeExamples of Income that is Not Considered Earned:Interest and dividendspensionsSocial securityUnemployment benefitsAlimonyChild support.
What is a 1099-C from a creditor?
It is the notice given to the debtor and the IRS that the debt has been cancelled. The amount of the debt is now considered taxable income under IRS regulations and must be included on the debtor's tax return.
Can the IRS garnish 401k?
yes IRS will garnish 401k because they see it as a income.
Can the IRS garnish an income tax refund if money is owed from an audit?
Yes, the IRS can, and will, garnish an income tax refund if money is owed from an audit.
Non business bad debt deduction?
Non business bad debt deduction for what? if anything, the IRS will try to collect tax on it, considered as income
