A tax debt loan is a loan used commonly for business owners. Business owners have to pay more taxes than average workers, and sometimes they need a loan to pay off extra taxes. It's sometimes needed because a small amount of unpaid taxes can quickly accumulate into a large debt.
To find a tax debt loan, one should visit all good banks. Alternatively, talk to a financial adviser for advice. Many webpages, such as 'loan saver' offer tax debt loans.
No. Just like the receiving of the loan was not taxable.
If it is in deferred status, they will probably not take your tax refund. If your student loan is delinquent, then they will be seize your refund and put it toward your debt.
I have never seen a case where a private company of any kind can put a lien on someone's Federal Income Tax Refund? Usually the only groups that can put lien on a Tax Refund would be a government related debt like state or city taxes, student loan debt, food stamp or social security overpayments, etc.
Loans basically have no tax efffect. The loan is a trade of $ (or value) for the obligation/debt to pay it. Someone is worth not one penny more, or less, after borrowing money than before. Certainly SOMETIMES the expenses and the interest (the costs of the loan), can have a tax effect, most normally in a business situation.
loan is money borrowed and debt is money owed. :-)
No. That's considered a gift, not a charitable donation. You might actually be liable for a gift tax.
There are many ways one can reduce tax debt. One can reduce their tax debt by hiring a tax professional, re-checking tax returns, and choosing a debt plan.
Tax debt refers to the tax paid on the amount of debt the company has outstanding still. This varies significantly by company and non-profits do not pay tax.
Loan proceeds are not taxable, if your parents loaned you money and then decided to forgive the debt that wouldn't be taxable either (it's a gift). If you are paying your parents interest on the loan that interest is taxable income to your parents.
A bank loan write-off is when the customer doesn't pay the loan and the bank writes it off as a bad debt. In a write-off, the bank includes a bad debt as an uncollectible loss on its tax return.
A debt is something you owe someone, a loan is something you borrow