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What else can I help you with?
Is there a tax penalty to transfer all or some of funds from an ES OP to another fund within a 401K fund group?
No..not from the IRS...I guess there could be a special fee from the administrator. Its actually good to NOT have much of your retirement savings invested in the stock of your employer....all your eggs in one basket is the term.
Bank account frozen from garnishment by debt collection agency for credit card. The account only has SSI and SSD deposits. Garmishment was released by the court. Who's responsible for returning fund?
If your account was garnished by a govt agency(i.e. the IRS). Then the IRS needs to put that money back into your account not the bank.
Is TANF taxable income?
No. TANF is not taxable, and should not be included on your federal income tax return. Per IRS Pub. 525 "Do not include in your income governmental benefit payments from a public welfare fund based upon need..."
Is a money market fund the same as a mutual fund?
A money market fund is a mutual fund, but behaves a little different than most fund.
Are Fair Fund distribution payments taxable?
Yes, Fair Fund distribution payments are generally considered taxable income. Recipients are typically required to report these payments on their tax returns. It's advisable to consult a tax professional for specific guidance, as individual circumstances may vary. Additionally, the IRS may provide specific instructions regarding the tax treatment of such payments.
What will happen to Employer if employer didn't file the withheld taxes to IRS?
........ IE he stole them????? Then someone should alert the IRS, an investigation will be conducted and if he DID steal them... he could possibly go to jail, but there will definitely be fines, penalties, etc. (Trust fund taxes are not something you mess with.)
Can you donate money to the IRS?
Yes, you can voluntarily donate money to the IRS, primarily through the "IRS Gift Fund," which allows taxpayers to contribute to reduce the federal deficit. These donations are not tax-deductible, as they are considered gifts rather than charitable contributions. You can make payments directly on the IRS website or by sending a check with a designated purpose. However, it's important to note that this is not a way to settle tax liabilities or reduce future tax bills.
Where does the us treasury deposit taxes?
The U.S. Treasury deposits taxes into the General Fund of the Treasury, which is part of the larger federal budget. This fund is used to finance government operations, pay debts, and fund various federal programs. Tax revenues are collected by the Internal Revenue Service (IRS) and then transferred to the Treasury, where they are allocated according to the federal budget priorities.
Is there a tax penalty to transfer all or some of funds from an ES OP to another fund within a 401K fund group?
No..not from the IRS...I guess there could be a special fee from the administrator. Its actually good to NOT have much of your retirement savings invested in the stock of your employer....all your eggs in one basket is the term.
When and why was the IRS formed?
The Internal Revenue Service (IRS) was formed on July 1, 1862, during the American Civil War. It was established to help fund the war by collecting income taxes and implementing a system for tax collection, which was necessary to address the financial needs of the government during this period of conflict. The IRS has since evolved to oversee federal tax administration and enforce tax laws in the United States.
Bank account frozen from garnishment by debt collection agency for credit card. The account only has SSI and SSD deposits. Garmishment was released by the court. Who's responsible for returning fund?
If your account was garnished by a govt agency(i.e. the IRS). Then the IRS needs to put that money back into your account not the bank.
Will a bookkeeper get in trouble if the business is deliberatly not paying their taxes and the bookkeeper knows about it?
Possibly. The IRS has been known to take the position in delinquent tax collection matters that a bookkeeper in this scenario can be held a "responsible person" for payment of employment taxes. If the employment taxes are not paid over to the IRS then the IRS looks to collect the so-called Trust Fund portion of the employment taxes (plus interest and penalties) from anyone they deem a "responsible person". The company bookkeeper is high on the IRS target list of people they try to pin the blame on.
When does the IRS come into existence and why?
The Internal Revenue Service (IRS) was established on July 1, 1862, during the presidency of Abraham Lincoln. It was created to help fund the Civil War through the collection of income taxes. The IRS was initially intended to be a temporary agency, but it became a permanent fixture in the U.S. government as income tax laws evolved and expanded over the years. Its primary role is to administer and enforce federal tax laws.
What is the difference between the IRS 1040 and IRS 1040A an 1040EZ?
what is the difference between the IRS 1040 and the IRS 1040EZ forms?
An IRS summons is served by who?
The IRS.
An IRS summons is issued by who?
The IRS.
When was IRS established in?
when was the IRS established?
