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What if your unemployed do you still have to pay an income tax?
Wiki User
∙ 13y ago
Yes it is possible that you could be unemployed and still be required to file a 1040 federal income tax return and pay some income taxes.
If you are receiving unemployment compensation and have any other sources of worldwide gross income that you would have to report on your correctly filed federal 1040 income tax return.
Wiki User
∙ 13y ago
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If you are unemployed and receiving disability benefits can you still file income tax?
Yes, if income taxes were deducted and you are entitled to refund due to income tax rate, dependents, deductions, etc. as any other tax payer
Do you pay taxes in Washington State on lottery winnings?
Washington State does not have a personal income tax, so you will not pay any state income tax. You will still pay Federal income tax on lottery winnings, though.
Do you pay tax if you have no income?
You don't pay income tax. But you may still have to pay sales tax, gift tax, property tax, gas tax, motor vehicle tax, import duties, and any other taxes that may apply in your situation.
Why would you get a return from federal tax when you had no taxes with held from unemployment was unemployed the whole year and filed jointly married with total income below forty thousand dollars?
Because the other taxpayer on the MFJ income tax return had more income tax withheld from the pay than what the federal income tax liability was when the income tax return was completed.
Do the wealthy pay income tax?
The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
When you are 73 do you have to pay taxes?
Anyone who makes taxable income pays income tax. A 73 year old person in the US living on social security may not have to pay income tax, but will still have to file.
Do you pay tax if you work part time?
Yes, you pay tax. The amount you pay is related to your income, NOT how many hours you work. However if you work part time and your total income is low, you may be below the income tax threshold. You will however still have to pay social security taxes (if you country has these).
Do professional punters pay income tax?
all people pay income tax.
If you are on social security and do not pay income tax can you still get a 1500 tax credit for purchasing a high erricant a c unit?
If you don't pay tax, what difference does it make? The credit can only be used to pay tax.
How much money can a child make without having to pay income tax?
it doesnt matter about age. If a child earns over £5000 a year then they still have to pay income tax regardless of age.
What percentage will I be penalized if I choose to cash out my 401k early?
You will need to pay all income tax for the income deposited in the account (as if you earned it the moment you withdraw it) plus a 10% early withdrawal fee if you are under 55. If you have had no income for this tax year (say you are unemployed), then the tax burden may be low. However, if you are withdrawing in a year when you have had salary, the additional disbursement can push you into a new tax bracket-- raising the tax you pay on ALL income for this year. With this added tax burden and the 10% penalty, it is possible to wipe out all benefit from a withdrawal.
