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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/
that depends on how they pay their tax.
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.
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
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/
You can find information on state tax refunds at turbotax, or tax act websites. You can also go to the IRS website as well.
that depends on how they pay their tax.
No.
Tax refunds and tax credits provide funding for the business start-up and expansion by subtracting certain costs in the annual government tax bill of the business. Your company may make an application for tax refunds of past costs or receive tax credits on future projects. These regulations give a financial break that may release your business' income permitting further development and security.
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.
No the IRS will withhold your refund until the tax debt is paid. I know I had that happen to me and when it was paid in full I was able to start getting my refunds again.
Governments
Most definitely.