0
Short Answer: Yes
Longer Answer: You have to pay taxes on the amount embezzled minus any amount that you paid back in that calendar year.
So if you stole $100,000 in 2011, got caught, and paid back $10,000 in 2011...you have $90,000 in taxable income that should be declared on line 21 of your 1040 for the tax year 2011.
In subsequent years, you can deduct any additional restitution that you paid as an expense.
What else can I help you with?
What are the differences in tax implications between a traditional 401k and a Roth 401k?
The main difference in tax implications between a traditional 401k and a Roth 401k is when you pay taxes on the money. With a traditional 401k, you contribute money before taxes, so you pay taxes when you withdraw the money in retirement. With a Roth 401k, you contribute money after taxes, so you don't pay taxes when you withdraw the money in retirement.
Your idenitiy was stolen while you were overseasSince 1999 to 2006 you need to amend your taxes Will you receive the refunds for those years if it is owed to you?
You will receive refunds from the IRS if you are due the money. You may have to enlist a tax attorney to be a middle man and help you.
Do you pay taxes on your checking account?
No, you do not pay taxes on the money in your checking account.
When is the deadline for paying taxes if I owe money?
The deadline for paying taxes if you owe money is typically April 15th of each year.
A Plan where the government pays out more money than it takes in with taxes is called?
"A plan where the government pays out more money than it takes in with taxes"
Have no money how do I file my taxes?
have no money how can i file my taxes
What is money remaining after taxes?
I think it is when you have money left over after paying all of your taxes
Do you have to pay inherit taxes on money willed to you in NC?
If you inherit money willed to you in the state of North Carolina, you must pay taxes on the money. Inheritance taxes are more than regular employee taxes.
What are taxes?
Taxes are money that gets paid to the government.
Do republicans pay taxes?
No they raise money on taxes
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.
Do you have to pay taxes on estate money received?
Yes, you will have to pay taxes on any estate money received.
What are synonyms of taxes?
a synonom for taxes is pay or give money
How do you report supplemental security income on my taxes?
SSI benefits are not taxable (except possibly if they are stolen or obtained through fraud). You don't have to report them on your taxes.
Where does California get their money from?
they get it from taxes
Where does the govt get its money from?
Taxes.
Where does the money come from to pay for the schools in Sweden?
The money comes through taxes. Sweden has very high taxes.
