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What is the purpose of withholding declaration forms?
Form W-4 is Employee's Withholding Allowance Certificate. You fill out form W-4 for your employer to indicate your filing status and number of exemptions. Your employer figures the amount of taxes to be withheld (income, Medicare, Social Security) from your earnings based on your filing status and number of exemptions. The purpose of Form W-4 is to make your withholdings as accurate as possible. In this way, you won't have a large tax due balance on your tax return. For more information, go to www.irs.gov/formspubs for Publication 919 (How Do I Adjust My Tax Withholding?).
How do you know if you need estimated tax forms to pay tax for 2009?
Form 1040-ES is Estimated Tax for Individuals. Generally, you must make estimated tax payments if you expect to owe, after subtracting any withholding and credits, at least $1,000 in tax for 2009. In addition, you expect your withholding and credits to be less than 90 percent of the tax that'll be due on your 2009 tax return OR 100 percent of the tax that was due on your 2008 tax return, whichever is smaller. An exception is that if you didn't have a tax liability (i.e., your total tax was 0 or you didn't have to file a return) for 2008, then you don't have to pay estimated taxes for 2009. Also, other alternatives to estimated tax payments may apply. One, if you also receive wages/salaries, you could file a new Form W-4 (Employee's Withholding Allowance Certificate) to increase the amount of tax taken out of your earnings. If you're receiving a pension or annuity, you can complete Form W-4P (Withholding Certificate for Pension or Annuity Payments) to start or change withholding.
What is an example of gross pay vs net pay?
Some deductions from gross pay to arrive at net pay would be social security tax, federal withholding tax, state withholding tax and state unemployment and/or disability tax. Some other deductions, which could be made either before or after taxable gross pay might be retirement and/or insurance contributions.
How can one protect against credit card number theft?
The simplest ways to protect against credit card number theft are to take due diligence when using the card online or at terminals like at the gas station. If possible, pay directly from a cashier. Other options are getting identity theft protection either through the card or from a company like LifeLock.
What is the due date if you owe money to the IRS?
April 15th
Do you think cash should be electronic considering that identity theft is growing at a rapid rate?
I personally do not think that money should only be electronic due to the rapid growth rate of identity theft.
How much money do retailers lose in merchandise each year through theft and employee error?
In the past year, the retail industry lost $38 billion due to theft. Overall, 38% of all inventory shrinkage were due to theft. These are very alarming stats. You can read further on this topic here - ...gizmosupport.com/6-tips-for-loss-prevention-in-retail/
Should withholding tax be eliminated?
No...all it is is the method of collecting tax...it isn't a tax. Andof course, if you don't have withholding, like a self employed, you must make estimated payments every quarter. Simply, a large amount of people do not have the understanding or ability to calculate and put aside the money to pay the tax when otherwise due.
How much money is lost due to theft?
The amount of money lost due to theft varies widely by region and type of crime, but in the United States alone, the FBI estimates that property crime, which includes theft, results in billions of dollars in losses each year. In 2020, for instance, the total value of property stolen was reported to be around $15 billion. Additionally, businesses may incur further losses from increased security measures, insurance premiums, and decreased customer trust. Overall, the economic impact of theft is significant, affecting individuals, businesses, and communities.
What is theft due to forcible entry?
burglary
What do stores do to recover from theft?
To recover profits lost due to theft they raise the prices that everyone pays.
Am I exempt from backup withholding?
You may be exempt from backup withholding if you meet certain criteria, such as providing a correct taxpayer identification number (TIN) and not being subject to backup withholding due to previous underreporting of interest or dividends. It's best to consult with a tax professional or refer to IRS guidelines to determine your specific situation.
Is it legal for a bank to withdraw funds from an active account to satisfy a closed account that went delinquent due to theft?
If you owe a bank money and you have other accts with that bank they are allowed to take the money to satisfy the overdaft/delinquent fees that you may have.
Where can one find the IRS withholding calculator?
One can find the IRS withholding calculator on the IRS and Taxes websites. Those who can benefit from using the calculator include employees who want to reduce their tax refund due and employees with non wage income in excess of adjustments. The site has a link to the IRS withholding calculator in the middle of the page.
debt?
a sum of money that is owed or due.
Is it advisable to keep cash at home?
It is generally not advisable to keep large amounts of cash at home due to the risk of theft or loss. It is safer to keep money in a bank account where it is protected and insured.
What is the solution if you have missed the fast due to intercourse?
To fast is to refrain from eating; having intercourse does not constitute a violation of a fast.
