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An overpayment of tax is treated as an interest-free loan from you to the government. One must file an income tax return to have this money returned to them.

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16y ago

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Related Questions

What is revenue tax?

Tax revenue is the income that the government gets from individuals paying their yearly taxes. Anytime taxes are taken out of your paycheck, that goes to the governments tax revenue.


What does annual income means?

Amount of money made in one year from all sources before paying taxes on it


What kind of taxes are charged on the principal of student loans?

AnswerThere are no taxes on the principal of any loan, student or otherwise.In fact, there are no taxes on the payor of interest on a loan, student or otherwise. (The receipient of interest has taxable income of the amount earned).The interest paid on a loan secured by ones residence, are generally, deductible (the opposite of paying taxes)..


My son rents apartment in San Pedro. He is on the grant deed of my property. Can he write off my interest and taxes on my property in Fullerton How can he do it?

He can if he is paying them and you have not claimed them already on your taxes.


Were Nobels exempt from paying taxes?

Yes, Nobel Prize winners in Sweden are exempt from paying taxes on their prize money. This exemption is part of Sweden's efforts to promote and recognize contributions to humanity through science, literature, and peace. However, while the prize itself is tax-exempt, any additional income generated from the prize money, such as interest or investments, may be subject to taxation.


Which is a duty of American citizen?

paying taxes


Why would corporations want to achieve zero balances in their checking accounts?

to earn more interest


Is paying taxes a duty or a responsibility?

is paying taxes a duty or a responseibility


What are your legal rights to property owned in common with others if you have been paying the property taxes for forty years without any assistance from any others on the deed?

You must consult with an attorney who can review all the details and explain your options. You may be considered a volunteer if you have been paying the tax bill for forty years without trying to collect from the other owners. In that case it would not have given you any additional rights to the property. Paying the taxes should have been settled amongst the owners forty years ago. Without any court order you have a right to only the proportionate interest you acquired in the deed.Each tenant in common has the right to the use and possession of the property and is responsible for paying their share of the taxes. However, if one continues to pay the taxes voluntarily for forty years that doesn't give them any greater interest in the property.You must consult with an attorney who can review all the details and explain your options. You may be considered a volunteer if you have been paying the tax bill for forty years without trying to collect from the other owners. In that case it would not have given you any additional rights to the property. Paying the taxes should have been settled amongst the owners forty years ago. Without any court order you have a right to only the proportionate interest you acquired in the deed.Each tenant in common has the right to the use and possession of the property and is responsible for paying their share of the taxes. However, if one continues to pay the taxes voluntarily for forty years that doesn't give them any greater interest in the property.You must consult with an attorney who can review all the details and explain your options. You may be considered a volunteer if you have been paying the tax bill for forty years without trying to collect from the other owners. In that case it would not have given you any additional rights to the property. Paying the taxes should have been settled amongst the owners forty years ago. Without any court order you have a right to only the proportionate interest you acquired in the deed.Each tenant in common has the right to the use and possession of the property and is responsible for paying their share of the taxes. However, if one continues to pay the taxes voluntarily for forty years that doesn't give them any greater interest in the property.You must consult with an attorney who can review all the details and explain your options. You may be considered a volunteer if you have been paying the tax bill for forty years without trying to collect from the other owners. In that case it would not have given you any additional rights to the property. Paying the taxes should have been settled amongst the owners forty years ago. Without any court order you have a right to only the proportionate interest you acquired in the deed.Each tenant in common has the right to the use and possession of the property and is responsible for paying their share of the taxes. However, if one continues to pay the taxes voluntarily for forty years that doesn't give them any greater interest in the property.


What is the penalty in Kansas for not paying the property tax for 2 years?

In Kansas, failure to pay property taxes for 2 years can result in the property being subject to a tax sale. The county can initiate legal proceedings to sell the property at auction to recoup the unpaid taxes, interest, and penalties. Additionally, the property owner may incur additional fees and costs associated with the tax sale process.


What is the last deadline for paying taxes from 2010?

The last deadline to pay your taxes is April 18th of this year. Please view the following to obtain additional information: www.efile.com/tax-day-deadlines/.


If you contribute to a savings plan that is pretax do you have to pay taxes on it when you file your yearly taxes?

No