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Getting a relocation stipend from an employer can help you offset your moving costs. However, many employees do not realize that they have to pay taxes on a relocation bonus. Depending on how your employer gives you your bonus, your relocation package could be taxed at a higher windfall rate. Find out whether or not you will need to pay tax on your relocation budget right away so that if you do, you can budget for that expense. Knowing about the payment in advance can make doing your taxes less stressful. You do not want to be surprised with a high tax bill.

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Q: Find Out If You Owe Taxes On A Relocation Package?
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Related questions

Where can one find tips for taxpayers who owe back taxes to the IRS?

One can find tips for taxpayers who owe back taxes to the IRS by visiting the official IRS website. On the site one will find a wealth of knowledge relating to paying your taxes.


How do you find out if you owe federal taxes?

http://wiki.answers.com/Q/How_do_you_find_out_if_you_owe_federal_taxes"


Where to find how much you owe in house taxes?

you can look on the inter net


Can a tax chart help you to figure out how much money you owe in taxes?

Yes, a tax chart help you to figure out how much money you owe in taxes. You can find a tax chart online.


What will happen if you file the current years taxes and owe for back taxes?

You will have to pay a fine. And pay all the money back that you owe.


How do you find out how much city and county taxes you owe in lenoir North Carolina?

Contact the city hall and ask. Please understand public officials will want to collect the taxes you actually owe but will return any tax that you may have paid that you do not owe. They are not out to "get" you.


Can fed take my taxes if i owe state?

if i owe federal taxes will they take my state refund


Where online can i find out if you owe back taxes?

You would not be able to get this information online from the IRS. You may be able to find out by contacting your local IRS in person and asking some at the local office if they can assist you with finding out if you owe the IRS any back taxes.


How do you find out if you owe back property taxes?

Contact your county treasurer's or tax assessor's office.


What if you have no money to pay your taxes?

You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.


Why would you owe taxes?

As far as federal taxes owed for earning a wage in the United States; anyone who has made over $8000.00 on a tax year has to file a tax return an in most cases will owe taxes to the government.Earning wages will cause you to owe taxes.


If you didnt owe money for 2007 but you did owe for past years will you still get a check?

i think if you don't owe taxes for 2007,but owe taxes on prior years you should still get a stimulus check as long as you are making monthly payments on what you owe.