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If you are owed money by the federal government, the money that the federal government sends you is called a "tax refund" or sometimes just a "refund."
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
No. Your federal tax is not deductible from your income in determining state taxable income, hence any refund of it isn't included as taxable income.
I believe that the IRS has specific dates called the IRS Tax Refund dates for your federal IRS tax refund money. On the other hand, if you file your taxes electronically, you can receive your tax refund in as little as 10 days after filing electronically, according to the IRS.
If you are owed money by the federal government, the money that the federal government sends you is called a "tax refund" or sometimes just a "refund."
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.
beause if we arent a federal we dont have money
Typically, the Internal Revenue Service doesn't collect your refund if you owe them money. They will keep your federal refund.
A Federal Tax Refund is when the Government pays you back money it has technically borrowed from you during the previous year without paying you interest.
Turbo tax provides a federal tax refund by determing how much money you pay from your bills and mortgage and turning it into extra money that you can use in the near future.
A Federal Tax Refund is when the government refunds you the extra money you paid for your tax. You can easily get someone to help you do it, or you can use TurboTax (online) to help you get your refund.
Any state/fed agency you owe money to-example school loans
A tax refund or tax rebate is a refund on taxes. When your tax liability (the amount of tax you owe) is less than the amount of taxes paid or taken out of your paycheck, the IRS will give you a tax refund once your return is filed.
No.Presuming it was paid with after tax money (money you already paid tax on)...the return of that money is not taxed.
A revolving fund is continuously replenished as funds are withdrawn. A refund is a complete repayment, or payback, of a certain amount of money.