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What else can I help you with?
Should I apply overpayment to my 2023 taxes?
It may be beneficial to apply overpayment to your 2023 taxes if you anticipate owing taxes next year. This can help reduce the amount you owe and potentially lower your tax burden. However, it's important to consider your overall financial situation and consult with a tax professional for personalized advice.
What is the max refund for federal taxes?
There is no maximum refund. If you overpaid your federal taxes, you'll get a refund for the overpayment no matter how much it is.
What is the process for receiving a refund if I overpay my estimated taxes?
To receive a refund for overpaying your estimated taxes, you need to file a tax return with the IRS. On your tax return, you can claim the overpayment as a credit or request a refund. The IRS will then process your return and issue a refund if you are owed one.
Can you bankrupt a VA Overpayment?
no
Can you file taxes if you are claimed as a dependent?
Yes, you can still file taxes if you are claimed as a dependent, but there are certain rules and limitations that apply.
Should I apply overpayment to my 2023 taxes?
It may be beneficial to apply overpayment to your 2023 taxes if you anticipate owing taxes next year. This can help reduce the amount you owe and potentially lower your tax burden. However, it's important to consider your overall financial situation and consult with a tax professional for personalized advice.
What is the journal entry for overpayment of payroll taxes?
debit payroll taxesCredit cash
What is the max refund for federal taxes?
There is no maximum refund. If you overpaid your federal taxes, you'll get a refund for the overpayment no matter how much it is.
Can overpayment on rent be applied to damages?
If you were required to pay a security deposit prior to moving in, overpayment would not apply to that unless you have a verbal or written agreement with the landlord. Typically, if you make an overpayment on rent, it would be applied to next month's balance.
Can state of Michigan take my federal taxes for overpayment of unemployment insurance?
The State of Michigan can only offset your federal refund, if they say the overpayment was due to misrepensentation or fraud. In this case you will need to contact a Bankruptcy Lawyer to help.
What does overpayment mean on your state taxes and what does it mean by Amend?
"Overpayment" means that you paid more income tax than you owed and, therefore, are probably due a refund. "Amend" means to send in a corrected tax return, which will take the place of the original return.
What does it mean to levy taxes?
To apply taxes. To have taxes on certain goods.
Do you have to pay taxes on money being paid back to your employer?
Depends on what the payback is for...if it for an overpayment of wages that were taxed when mistakenly given to you, you would not pay tax on that.
How do you file your taxes if you are on workers compensation?
Workers compensation should send you a form that you will apply to your tax returns.
Can unpaid unemployment taxes be garnished from current unemployment checks?
Depending on the state, if it is overpayment of benefits due the state then probably yes. Otherwise, unemployment taxes are levied against the employers, not the employees so there would be no garnishment in that case.
Who can apply taxes?
Anyone can prepare taxes although the tax payer or a CPA usually file. Cities, School boards, States and the Federal government can apply taxes to your income
How long does Medicare have to request refund of overpayment?
Medicare generally has a three-year period from the date of the overpayment to request a refund. However, this period can be extended if there are issues related to fraud or if the overpayment was not discovered until later. Providers should be vigilant about overpayments and respond promptly to any notices from Medicare to avoid complications.
