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Is there a way to claim a tax refund as personal property on schedule B and then as an exemption on schedule C?
The answer to this question depends on State law. Each State has its own exemptions (except for those States which have elected to utilize the federal exemptions), so it depends on what exemptions the State in which you live allows. In Indiana, each person has a $100.00 cash exemption (which is the exemption you have to use for tax refunds in Indiana), so I normally list an anticipated tax refund on Schedule B #17, and then I exempt $100.00 of the amount on Schedule C (per the Indiana cash exemption). The debtor then gets the first $100.00, and the trustee can take the tax refund check over the $100.00 that is exempted. In the case of a joint filing, Indiana allows you to protect $200.00 ($100.00 per debtor). As a practical matter, most trustees in Indiana won't seize a tax refund check even if it is worth more than the $100.00 (or $200.00) exemption if it is less than $1,000.00, since most trustees don't want to bother liquidating anything smaller than $1,000.00. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
What else can I help you with?
Where can I find a tax refund schedule online?
A tax refund schedule can be found online at various different site. Some of these include http://www.irs.com/2011-federal-tax-refund-schedule/ as well as http://www.efile.com/tax-refund/where-is-my-refund/. where is my refund
How do you check when you are supposed to get your property taxes refund check?
You don't get a refund of your property tax.
When will I get my Alabama tax refund?
Depends on when you filed. Check the tax web site for their refund schedule .
When you file for the federal tax refund do you file the state tax refund separately or on the same form 1040 with schedule a?
When you file for the federal tax refund, you will file the state tax refund on the same 1040 form with schedule A.You can also file for that separately.
Can Sears garnish your tax refund?
Not directly. If, however, they sue for debt owed, they may be able to execute a judgment against the debtor's bank account in which the refund was deposited. Other options that can usually be used by a judgment creditor to satisfy a debt is income garnishment, seizure and liquidation of non exempt property, lien against real property. All states have a set of exemptions that the debtor can use to protect real and personal property, the most important one for property owners would be the homestead exemption. If a debtor believes themselves to be in a position where they can be sued, they should become informed of their legal rights under the creditor-debtor laws of the state in which they reside.
Where can I find a tax refund schedule online?
A tax refund schedule can be found online at various different site. Some of these include http://www.irs.com/2011-federal-tax-refund-schedule/ as well as http://www.efile.com/tax-refund/where-is-my-refund/. where is my refund
How much is the exemption for a new baby on your income tax refund?
For a qualifying child dependency exemption the amount is 3650 for each exemption for the year 2009
How do you check when you are supposed to get your property taxes refund check?
You don't get a refund of your property tax.
What is a tax refund schedule?
A tax refund schedule is an attached worksheet that provides more information. You typically see schedules when someone itemizes.
When will I get my Alabama tax refund?
Depends on when you filed. Check the tax web site for their refund schedule .
When you file for the federal tax refund do you file the state tax refund separately or on the same form 1040 with schedule a?
When you file for the federal tax refund, you will file the state tax refund on the same 1040 form with schedule A.You can also file for that separately.
Can Sears garnish your tax refund?
Not directly. If, however, they sue for debt owed, they may be able to execute a judgment against the debtor's bank account in which the refund was deposited. Other options that can usually be used by a judgment creditor to satisfy a debt is income garnishment, seizure and liquidation of non exempt property, lien against real property. All states have a set of exemptions that the debtor can use to protect real and personal property, the most important one for property owners would be the homestead exemption. If a debtor believes themselves to be in a position where they can be sued, they should become informed of their legal rights under the creditor-debtor laws of the state in which they reside.
I am doing my tax return and i am claming my lilttle brother who is in Mexico and i have only earned 2930 who much who i get in my tax return?
Each exemption reduced the taxable income by the amount of the exemption. For 2008, the exemption amount is $3,500. They are two types of exemptions personal exemptions and dependency exemptions. The personal exemption is for the tax payer and spouse. Dependency exemptions are for those who pass the IRS dependency test. According to the information provided you may not be able to claim a dependency exemption for your brother, therefore your refund will be whatever federal tax withholdings is shown in the W2 box 2, and if you are over 25 years of age and have a social security number you may qualified for an earned income credit in the amount of $224.00. Good luck
What do you do if someone is using your daughters ss for tax?
If that someone is not entitled to take your daughter's exemption on their tax return, notify the IRS. You can call them at 800-829-1040. You will not be able to file your taxes electronically with your daughter on them, so you can do one of two things. File electronically without her information, if you will still get a refund and need it soon. Then amend the return to include her information, and include evidence that you are entitled to take her exemption. You will receive an additional refund, but it may take months. File a paper return, including evidence that you are entitled to take your daughter's exemption. It may take months for you to receive a refund. Other than the length of time involved, whether or not you have any problems collecting your refund depends largely on who took her exemption and what evidence they have to support taking it.
Can you get a refund from IRS on mortgage taxes and interest?
No, but you can write them off as itemized deductions on your Schedule A.
How to file for property tax refund?
Contact your local property tax department and request a copy of the form that you will need to use to file for the property tax refund or you could try and see if this could be done online at the local property tax online website.
Should tax refund be listed as income on schedule I?
No. It is either cash (if received) or a receivable. It is not income.
