This would be a flat rate tax, not an actual flat tax...
Studies have shown that this model could actually produce MORE revenue into the federal government.
theres soooo many type of accounting majors...its almost confusing...i'd just like to know which one should i tackle..i kno i want to be an accountant...but which one would be appropriate for a C...
I have been filing IT returns regularly. Filed IT returns for the financial Year 2006-2007. I resigned from my job in march 2007. Earnings for the year 2007- 2008 less than the prescribed limit for ...
I only worked on week and that is all that I worked in 2007. My boyfriend claimed me and our daughter cause he supported us. I did not file because I only had worked that short time. Do I need to ...
CA pays up to $450 per week, can your state beat it? Additional Details For those that do not know, unemployment money comes from company u work for, not any tax money....
their link that is supposed to show your status on your refund always claims that it doesnt recognize my me. the irs has already accepted me but no word from rapid tax on my refund status. they only ...
I entered a contest and won a $250 gift card.
-Do I have to report this to the IRS and pay taxes on it?
-If so, will the place I won the gift card from give me paperwork or am responisble ...
My ex husband and i have 2 children. they live with me 100% for the entire year. He has contributed 116 per week in child support since May.
He says to me the other day that he is claiming them ...
my 25 yr old son lives with me and he worked and made $6000 he filed income tax form 1040A to get back a refund, can i still claim him on my taxes as a dependent as i provide more than 50% of his ...
To stop encouraging single-parent and broken families, should the government only offer child-tax credits to adult husbands and wives who are both the parents of the child/children claimed on the ...
We recently moved and bought a house before we sold our previous home. These homes are our previous and present primary residences. Our previous home is on the market. We also own a second home. C...
My employer never gave me my W-2 form. Therefore I cant do my 2007 taxes. It is April 3rd 2008, and I still have not received any kind of notice, or forms. I spoke with him several times after J...
Heavily. They will take x amount percentage of your pay just as they do normally except it will look much bigger
Old Guy
They are taxed the year you receive them. Your employer will most likely withhold tax from the check--just like he does with your other payroll checks.
Kenshin
tax is pay on time you recieve your payment, just like a pay check when you get it the tax is taken out.
when you get a lump sum of anything start withhold or else.
STEVEN F
The following is copied from the IRS website linked below.
Severance pay. Amounts you receive as severance pay are taxable. A lump-sum payment for cancellation of your employment contract must be included in your income in the tax year you receive it.
golferwhoworks
ordinary income.The tax will be f=higher as you are paid lower most other times. If you are paid for example every two weeks then this lump sum will be taxed at an every two week tax %
michael c
Severance payments are,of course, taxable income. IRS rules on non-recurring payments like severance, annual bonuses, etc. is a flat 25% unless the amount exceeds $1MM.
Withholding on state depends on the state.
Michael Casey CPA
Business Consultant
608-271-0068
Shayna
Sometimes they are taxed free. If it is compensation related. If not you will pay at the end of the year for Federal, state and local taxes. You can estimate that approximately 1/3 of it will go to taxes.
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