The Tax Questions Blog

Posts Tagged ‘taxes’

Question: I already filed my fed taxes. The next day, I got a 1099G for a 2006 state refund?

I did my taxes online, and filed electronically....I don't remember ever having to report my past year state refund in past years....

What is that 1099g for, anyway? Do I HAVE to file an ammended return? The amount was about $300....does that mean my taxes, or my taxable income will be reduced? Which one? Will I be penalized for amending my return if I end up owing money?

This is new for me. I have no idea what to do.
Thanks guys...I DID itemize in 2006, but not in 2007.

Is it possible the irs won't give me my refund? Or will I just have to pay back the cash I owe? Will there be a penalty, even if I pay it back before April 15th 2008?
I definitely took sales tax exemption on my 2006 fed returns. We bought a new car in 2006, so it was advantageous to do that.

Answer: If you didn't itemize when you filed last year, you don't have to do anything. If you itemized on the return you filed a year ago, and deducted state income tax, then the amount on the 1099G is taxable income to you for 2007 and you'd have to file an amended return adding it on. Your taxable income, and therefore your tax, would be increased but for under $100, and probably under $50.

When are state income tax refunds includible in federal taxable income?: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA's on May 1, 1993. The length of the article is 729 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.From the supplier: A cor...

Tax treatment of rebates may be clearing up: here's how to manage these payments' tax recognition.: An article from: Journal of Accountancy $9.95 This digital document is an article from Journal of Accountancy, published by American Institute of CPA's on October 1, 2008. The length of the article is 2572 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Tax treatment of rebate...

Determining erroneous refunds on taxable social security (SuDoc T 22.2:T 19/36) ...

American States Water Company Announces Earnings for the Fourth Quarter and the Year 2010

SAN DIMAS, Calif.--(BUSINESS WIRE)--American States Water Company (NYSE:AWR) today reported basic and fully diluted earnings of $0.48 per common share for the fourth quarter ended December 31, 2010 as compared to basic and fully diluted earnings of $0.18 per common share for the fourth quarter ended December 31, 2009. Basic and fully diluted earnings from continuing operations were $0.44 per ...

Question: I would like to know how to figure out how much I will receive back in my tax return.?

I am single, with no children. I work in PA, and my taxes are a little over 25%. What can I expect back??
Oh gosh, this is my first time ever dealing with taxes.... I wasn't sure if it worked by like you get a certain percentage back or something like that.... I claimed 0 now and when it comes the time, I'm going to claim 1.... that's what everyone said I should do... I expect to make no more than $15k this year AFTER taxes, and no less than $10k. Does that help???

Answer: your non taxable income as single, no dependents is $9350, anything over that will be at least 10% or more
if they are withholding 25% of your gross, they are taking far too much income tax
you will have 7.65% withheld for FICA, and possibly 1% or more for state disability
so it sounds like they are taking at least 16% for income tax, both fed and state--Wow!

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Maximize Your Tax Refund

We help you uncover all the breaks you might not find on your own.

Tax Tips & Advice : How to Find Out When Your 2008 IRS Rebate Check is Coming

Question: Is the federal income tax return considered taxable income?

It's hard to believe i have a check here for $500 and I don't have to pay any taxes on it.

Are there any states where a state/federal tax return is considered taxable income? What about when Hillary is president, will this change?

Answer: No. Because it is a refund of overpaid taxes...

The Law of Taxable Transfers, State of New York: Being Article X of Chapter 908, Laws of 1896, Known as the Tax Law and as Chapter Xxiv of the General ... of 1897, With Annotations and Forms (1897) $16.99 Originally published in 1897. This volume from the Cornell University Library's print collections was scanned on an APT BookScan and converted to JPG 2000 format by Kirtas Technologies. All titles scanned cover to cover and pages may include marks notations and other marginalia present in the original volume....

The Law of Taxable Transfers, State of New York: Being Article X of Chapter 908, Laws of 1896, Known As the Tax Law and As Chapter XXIV of the General Laws, As Amended by Chapter 284, Laws of 1897 ... $13.70 This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our conti...

The law of taxable transfers, state of New York: being article X of chapter 908, laws of 1896, known as the Tax law and as chapter XXIV of the general ... 284, laws of 1897, with annotations and forms $13.24 This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continu...

PRINCETON: Fair Tax group lining up to file lawsuit

The Princeton Fair Tax Revaluation Commission, a group of citizens who are fighting the 2010 revaluation of the Princetons, are preparing to proceed with legal action to challenge what they call unjust assessments.

Hexawise - Amazon Example, 4 of 9 - "Value Expansions"

Question: Taxable and Non taxable Income?

How can I tell if it is taxable or exempt?

Answer: Depending on what type of income your are referencing.

Beginning on page 44 of the IRS Pub 17 I have linked below is a breakdown of different kinds of income. You may be able to find if the income you need to find out about is taxable or not.

Laura H – H&R Block – Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

Understanding Your Tax Returns: Your Income, And Your Adjustments To Income Understanding Your Tax Returns is a new series of tax publications designed to help taxpayers across the USA. The objective of these publications is to help taxpayers to understand United States income tax code as far as Form 1040; US Individual Tax Returns is concerned. With a good basic knowledge of the tax code, taxpayers will potentially be in the position to literally increase their income ta...

Non-taxable incomes; a book of important information for investo ...

Non-taxable incomes; a book of important information for investors (1913) This book, "Non-taxable incomes; a book of important information for investors (1913)", by Geiger-Jones Co. (Canton, Ohio), is a replication of a book originally published before 1913. It has been restored by human beings, page by page, so that you may enjoy it in a form as close to the original as possible. This book was created using print-on-demand technology. Thank you for supporting classic l...

Full text: Pranab Mukherjee's Budget speech

Complete text of Finance Minister Pranab Mukherjee's Union Budget speech for 2011-12.

Must See Video Before You Have Your Taxes Prepared

Question: the irs "where's my refund" site said that i would recieve my check by May 4th. Can it come 10 days earlier?

is the irs refund delivery date accurate?

Answer: No, it may come a day or two earlier but not any more than that.

Best Of: Where Is My Man $9.27 ...

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Tracking Down Your Tax Refund

Still waiting for your IRS check? Try these tips for tracking down your tax cash.

Tax Tip: Where's My Refund?