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What else can I help you with?
Which level of government is responsible for pensions?
federal government
What kind of tax is the federal government's tax?
It's a federal government tax
How much taxes from pensions?
Taxes on pensions vary depending on the type of pension, the state of residence, and an individual's overall income. Generally, pension income is subject to federal income tax, and many states also tax pension distributions. Some states offer exemptions or reductions for certain pensions, such as those for government employees or veterans. It's important for individuals to consult tax guidelines or a tax professional to understand their specific tax obligations related to pension income.
Does the state of Georgia tax pension money?
Yes, Georgia does tax pension income, but it offers some exemptions. Specifically, individuals aged 62 and older can exclude a portion of their retirement income, including pensions, from state income tax. Additionally, certain types of retirement benefits, like those from the federal government or military pensions, may be fully exempt. It's advisable for retirees to consult with a tax professional for personalized guidance.
Can a pension be garnished for a credit card debt?
All Social Security pensions and benefits are exempt from creditor judgment by federal law. Military pensions, federal government pensions are also exempted from creditor attachment. Private pensions are regulated by the laws of the state in which the person resides, therefore they may or may not be subject to garnishment.
What tax is required by the federal government?
social security tax
What groups can the federal government not place taxes on?
The federal government does not tax state and local governments and tax-exempt organizations such as churches and charities.
How the government is funded?
The federal government is funded by tax payers.
What tax withholding is required by the federal government?
social security tax
What is the federal government to tax?
Exported Goods
Can federal government have the right to tax?
yes
What can't the federal government tax?
ice
