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What Will happen my employer only held six dollars out on me in state taxes?

If your employer only withheld six dollars in state taxes, it's likely that you may owe additional taxes when you file your state tax return. Depending on your income level and the tax rates in your state, this could result in a tax liability. It's essential to review your withholding and possibly adjust it for future pay periods to avoid a similar situation next year. Additionally, consider consulting with a tax professional for personalized advice.


What type of account is held by the mortgage lender and used to cover property taxes and homeowner's insurance?

(Escrow:) funds held in an account to be used by the lender to pay for home insurance and property taxes. The funds may also be held by a third party until contractual conditions are met and then paid out.


How do you know if your refund will be held for back taxes?

You can call the debt line and input you social security # and it will tell you if anything will held your refund or delay it. 1-800-304-3107


Is a child liable for a parents failure to file taxes?

No. A child cannot be held responsible for the actions of their parents.Exception to the rule: If the children are heirs of an estate (both parents are deceased) and taxes are outstanding, then the taxes must be paid out of the estate proceeds before the child(ren) could be awarded the residuals.


Is payroll taxes an asset?

Payroll taxes are not considered an asset; rather, they are a liability for employers. When businesses withhold payroll taxes from employees' wages, they are obligated to remit those amounts to the government, which creates a financial responsibility. While the withheld taxes can be viewed as funds temporarily held by the employer, they do not possess inherent value or ownership like traditional assets do. Thus, payroll taxes reflect an obligation rather than an asset.

Related Questions

Why was the estate general held?

the estate-general was held to discuss the high taxes in France.


Did Eisenhower raise income taxes?

No. He held pat. He said taxes could not be cut until the outgo and the income balanced. He held office with a republican congress.


What can a member of congress cannot be held for?

failure to pay taxes


What is the longest winning streak Kentucky has held over Tennessee in basketball?

14


Do you have to file state taxes if no state taxes were with held?

The general answer is "no" but you should double check your states website just to be sure.


When was the 134th Kentucky Derby held?

May 3, 2008 was the date on which the 134th Kentucky Derby was held. The winning horse was Big Brown [foaled April 10, 2005]. The winning jockey was Kent Desormeaux [b. February 27, 1970]. The winning time was 2 minutes 01.82 seconds.


What Will happen my employer only held six dollars out on me in state taxes?

If your employer only withheld six dollars in state taxes, it's likely that you may owe additional taxes when you file your state tax return. Depending on your income level and the tax rates in your state, this could result in a tax liability. It's essential to review your withholding and possibly adjust it for future pay periods to avoid a similar situation next year. Additionally, consider consulting with a tax professional for personalized advice.


When was the 135th Kentucky Derby held?

May 2, 2009 was the date on which the 135th Kentucky Derby was held. The winning horse was Mine That Bird [foaled May 10, 2006]. The winning jockey was Calvin H. Borel [b. November 8, 1966]. The winning time was 2 minutes 02.66 seconds.


When was the 126th Kentucky Derby held?

May 6, 2000 was the date on which the 126th Kentucky Derby was held. The winning horse was Fusaichi Pegasus [foaled April 12, 1997]. The winning jockey was Kent Jason Desormeaux [b. February 27, 1970]. The winning time was 2 minutes 01.12 seconds.


What it payroll company does not pay payroll taxes?

Has this happened, or are you just curious? By law the payroll service has to pay the taxes to the government, that are with held.


When was the first Melbourne cup was held?

7th November 1861


When was the 112th Kentucky Derby held?

May 3, 1986 was the date on which the 112th Kentucky Derby was held. The winning horse was Ferdinand [1983 - 2002]. The winning jockey was William Lee Shoemaker [August 19, 1931 - October 12, 2003]. The winning time was 2 minutes 02-4/5 seconds.