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What else can I help you with?
If ss disability payments are exempt from a bankruptcy why would your disposable income change if the only added income was from the ss?
Is VA Disability income exempt from bankruptcy income claim?
Why did my refund decrease when I added another W2?
When you added another W2, your refund may have decreased because the additional income from the second job pushed you into a higher tax bracket, resulting in more taxes owed and a smaller refund.
Why did my federal refund decrease when I added another W2?
Your federal refund decreased when you added another W2 because having multiple W2s can increase your total income, which may push you into a higher tax bracket and reduce the amount of refund you receive.
Why did my tax refund drop when I added a second W-2?
Your tax refund may have dropped when you added a second W-2 because having multiple jobs can increase your overall income, pushing you into a higher tax bracket and reducing the amount of refund you are eligible for.
Do you have to forfiet your income tax return if you file chapter 13 bankruptcy?
You made an interest-free loan of your money to the IRS and obviously did not need the income that represents. You are not "forfeiting" your refund. It will be added to your plan payments and may permit more of your debts to be paid pro rata - after the trustee gets his/her cut - or shorten the term of the plan if you have a 100% plan.
A medical bill you owe can it affect your tax refund?
Yes, as you can't claim it as an expense unless it has been paid, therefore it can't be added to a deduction against income, which will effect anyone's refund.
If a chapter 13 bankruptcy has not been discharged can a creditor be added?
The bankruptcy is not discharged, the debts are. A creditor can be added if the plan is not too far along or if you have the excess income to pay whatever the creditors are being paid (percent of debt) for the balance of the plan. If it is a post-filing debt, it cannot be added.
What is the Hancock Amendment?
The Hancock Amendment was added to the Missouri Constitution in 1980. It requires the state to refund money to income tax payers when revenues are in excess of a percentage based on personal income.
Why did my tax refund decrease when I added another W-2?
Your tax refund decreased when you added another W-2 because having multiple jobs can increase your total income, which may push you into a higher tax bracket and result in a higher tax liability. This can lead to a smaller refund or even a balance owed to the IRS.
Can you file bankruptcy to pardon debt for owing back income taxes?
You can discharge income tax debt in bankruptcy only under certain circumstances. The rules are discussed in IRS Publication # 908. I have added a link to the one from 2009, but check with your tax adviser for any updates.
Added 2200 to your medical expense deduction and refund did not increase?
The 2200 amount that was added as a medical expense deduction on the schedule A itemized deduction of the 1040 federal income tax return did NOT INCREASE your itemized deductions amount enough to reduce your taxable income amount on page 2 line 43 of the 2009 1040 income tax return. So it did not reduce your income tax liability amount that is on page 2 line 44 and that would be the reason that you did not have any INCREASE in your refund amount.
Chapter 13 Bankruptcy filed october 2008 will owe 2500.00 for 2008 in federal tax can this be added?
Probably...at least the amount relative to income made PRIOR to the filing.
