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A "tax return" is a form like Form 1040 that you have filled out and sent to the government. A "tax refund" is a check that the government sends back to you because you paid too much tax during the year.
If you want to give your tax refund to someone else, take your check to a bank where you have an account or a check-cashing store and cash it and give the money to someone else. You are not allowed to have it direct deposited to someone else's bank account, although the IRS has been criticized for not checking too closely. (Some banks will reject a government payment if the name doesn't match the account.) And most banks will not accept a government check that is double-endorsed (signed over to someone else), but you can ask the other person's bank if they would be willing to do so.
What else can I help you with?
Is TDS a Direct Tax or Indirect Tax?
According to me tds is indirect tax because the concept of indirect tax is the tax is implement on that person is not liable to pay tax its burden is transfer to another person and who is liable to pay ta
If a minor owes less than 500 dollars for income tax do they have to pay?
If a minor has any income tax liability the minor would be required to file a income tax return. When you are a dependent on another individual income tax return and you have 950 or more of unearned income you are required to file a federal income tax return.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
What is a tax that varies with a person's ability to pay?
A progressive tax is one that varies with a person's ability to pay.
Do businesses pay taxes?
In one way or another, they pay income taxes on profits, property, vehicles, and every other tax that everyone else pays. Depending on the type of business and how it is formed, determines how the income tax is paid and on what type of tax return.
Is TDS a Direct Tax or Indirect Tax?
According to me tds is indirect tax because the concept of indirect tax is the tax is implement on that person is not liable to pay tax its burden is transfer to another person and who is liable to pay ta
Are nineteen years old single and a full-time student Is Janice eligible for the making work pay credit on her tax return?
NO a dependent on another taxpayers income tax return would NOT qualify for the MWPTC on her income tax return.
What is an income tax return?
Each year every person living in most countries has to pay a tax on how much they have earned in the year. The income tax return is the form on which they declare what they have earned so that the tax due can be worked out by government officials.
If a minor owes less than 500 dollars for income tax do they have to pay?
If a minor has any income tax liability the minor would be required to file a income tax return. When you are a dependent on another individual income tax return and you have 950 or more of unearned income you are required to file a federal income tax return.
Is gift tax federal or state?
Gift tax is a federal tax imposed on the transfer of assets from one person to another without receiving fair compensation in return.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
What is a tax that varies with a person's ability to pay?
A progressive tax is one that varies with a person's ability to pay.
What does tax fraud mean?
It's any type of fraud with relation to your tax return. It is any type of filing of a fraudulent tax return, either in an attempt to not pay your fair share of income tax, or filing an income tax that shouldn't be filed in the first place, such as a duplicate one or any other type of tax return With the intent to cheat the government out of money.
Do businesses pay taxes?
In one way or another, they pay income taxes on profits, property, vehicles, and every other tax that everyone else pays. Depending on the type of business and how it is formed, determines how the income tax is paid and on what type of tax return.
Why does my tax return drop when I add another W2?
When you add another W-2 to your tax return, it may cause your tax return to drop because the additional income from the second job could push you into a higher tax bracket, resulting in a higher tax liability.
If you worked in another country do you have to pay income tax?
Yes. A US Citizen or resident alien you are required to report all of your gross worldwide income on your 1040 income tax return.
What percentage of your federal taxes do you receive back on your tax return?
You receive 100% of your tax withholding as a credit as tax paid on the return. If the amount you had withheld from pay, which is under your control, to pay the tax you actually determine due when completeing the return, is more than what is ultimately owed, it is all refunded. If it is too little, you must pay more with the return, and likely penalty and interest too on the underpayment.
