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On what income do I have to pay tax? Only that year's (in which I withdrew) or entire period during which I kept my money in the 401 account? Also the 10% penalty is on what amount exactly?
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| Anyone else not receive the original notice that went out? When I do the calculator on the IRS website it says I qualify, so I am wondering what does it mean if you did not receive the original ... |
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| My refund date was changed in the system from 2/3 to now 2/24. I filed for RAC through HR Block. HR Block told me yesterday that nothing in the system was worng and it appeared my funds would be ... |
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| This is my first year as an indpendent contractor, and my tax professional says I owe...? |
| I was expecting to get about 2500 back in earned income credit, but they are saying i owe 300. I only made 23,500 and I had 8000 in expenses. I didn't pay in my medicare or ss through the year, ... |
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 Do you HAVE to file taxes? |
I only worked for about 1 week last year. Do I HAVE to file taxes? Is there any kind of penalty for not filing?
Additional Details
Parden my ignorance, but I don't know what a ... |
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 Child tax credit? |
| if i receive £46 a week child tax credit will i receive the same for my 2nd child? also does working tax credit change with arrival of 2nd child?... |
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| We just have a current account with nationwide. Everytime a direct debit comes out that wasnt expected or is just a few pence more then expected we get charged £30!!!!!! I bet we have paid hundreds ... |
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I just filed my 2006 taxes, but i remember that i forgot to file my 2005 taxes last year. Is there anything i can do about that???
Additional Details
i know that if i filed my taxes i ... |
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| Is it still possible to claim it? I didn't since I was unable to locate the form. I could probably pull up a bank record from March of 2007 that showed that I made the donation, but I have since ... |
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Collins F | I retired from work. But I recently got a job working part-time. Do I have taxes deducted from my pay? |
Do I have to have social tax, medicare tax,federal and states taxes deducted from my paycheck? |
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Dave T
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Yes.
There is nothing in the Internal Revenue Code that keeps a person from paying federal income tax due to their age. The amount of tax you pay is based on your income not your age.
I will assume that you are getting Social Security Retirement. A portion of your Social Security Retirement income could become taxable depending on the amount of income you earn at your new job.
Visit the IRS web site at www.irs.gov and look at Publication 17 in the forms section. There is good general information in the publication and the publication will refer you to other publications for additonal information if you need it. |
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jean34
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Yes, you still contribute to ss tax, med care, fed tax ...whenever you earn money, however your will benefit from it with an increase in ss benefits when you stop working, best place to ask for a real clear answer is Social Security Office they will give you an appointment and go into detail to answer your question. Good Luck |
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bostonianinmo
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Of course! Being "retired" doesn't exempt you from taxes. And if you're working, you're not retired any more either.
Bonus: If you are collecting Social Security, your current earnings will probably result in a slight increase in your benefits since they are based upon lifetime earnings, weighted for current earnings. |
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Cat
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Yes.
How much depends on how much you get paid in a pay period, and how youfilled out your W-4 form. If you're only working 1 or 2 days per pay period, you might not have any federal withheld.
But medicare, social security are straight percentages. (State would depend on your state - they all have different rates) |
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Judy1
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Yes, being retired doesn't change the withholdings. |
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chatsplas
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SURE. Why not? You're working, receiving pay. If you make enough, you have to file a tax return. Your pension or IRA or 401k payouts are taxable. If you make even more, some part of your social security payments may be taxable. |
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Nick G
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yep you do
just like before you retired
although if Obama gets elected he says that all seniors making under 50 thousand a year will not have to file a return |
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stephenweinstein
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Social security tax and medicare tax must be deducted even if you only make one dollar.
Federal and state income tax may or may not have to be deducted, depending on how much you make. Whether you are subject to these deductions is determined by the amount you make per pay period and the frequency of pay periods (weekly, monthly, etc.), not by whether you work full time or part time. |
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