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What kind? Refund - me. Payment - government. And that looks odd to me - a "check" has nothing to do with money here; that's a cheque.
Supposedly there are no silly questions.
In the States, Mr. I. R. Ess has the job of endorsing and cashing millions of income tax payment cheques. This keeps him busy most of the year; a tough job but somebody's got to do it.
Only silly answers.
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∙ 13y ago
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What are the accounting journal entries to record income tax payments?
debit income tax paidcredit cash
Entry for Provision for Income Taxes?
You will need two accounts: Income tax expenses (an expense account, obviously) Provision for income tax (a liability account) You will simply: debit provision for income tax credit income tax expenses When actually paying income tax, you will: debit cash credit provision for income tax
Can you deposit your niece's income tax return into your account with permission?
Can I deposit my niece's income tax return check with her permission <><><><><> Your niece needs to countersign the income tax refund check.
How does income taxes affect net cash flow?
An individual's net income is used to determine how much income tax is owed. ... cash flows from operating activities ...
If decrease in income taxes payable cash flow will be?
If there is decrease in income tax payable amount it will reduce the cash flow from operating activities or cash outflow from operating activity.
What journal entries can you make to provide for income tax?
Debit income tax expensesCredit cash / bank
What are the accounting journal entries to record income tax payments?
debit income tax paidcredit cash
Where does income tax liability go on the cash flow statement?
income tax liability is not part of cash flow statement rather it is part of balance sheet.
I received 191000 in a cash out refinance do I have to pay income tax on the money?
The proceeds of a loan are not income, so no tax.
Entry for Provision for Income Taxes?
You will need two accounts: Income tax expenses (an expense account, obviously) Provision for income tax (a liability account) You will simply: debit provision for income tax credit income tax expenses When actually paying income tax, you will: debit cash credit provision for income tax
Do you have to pay income tax on a cash gift?
If it is over $13,000
Can you deposit your niece's income tax return into your account with permission?
Can I deposit my niece's income tax return check with her permission <><><><><> Your niece needs to countersign the income tax refund check.
Can you cash a check that is over a year old?
No, you cannot cash a check that is one year old. In most cases, a check that is six months old is usually stale. This therefore means that the check cannot be cashed.
Should tax refund be listed as income on schedule I?
No. It is either cash (if received) or a receivable. It is not income.
How does income taxes affect net cash flow?
An individual's net income is used to determine how much income tax is owed. ... cash flows from operating activities ...
If decrease in income taxes payable cash flow will be?
If there is decrease in income tax payable amount it will reduce the cash flow from operating activities or cash outflow from operating activity.
Can your income tax check be garnished if your wages are already being garnished?
if my wages are being garnished can they still take my income tax check?
