 Why was my stimulus check $600 instead of $900? |
I recieved my tax refund check yesterday but it was only for $600. I was supposed to be getting an extra $300 for my daughter. Why didnt i get her $300?
Additional Details
My daughter is ... |
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 I want to to know rate of % of depriciation on fixed assest? |
| like on land & building , plant & machinery, furniture & ... |
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 What do our taxes pay for? |
Im doing a report on where our taxes go and what we pay for though our tax pay.
I dont know how im going to be able to write a 2 page front and back report on this.
If anyone ... |
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 How many of you guys are in favor of increasing the minimumwage in exchange for abolishing inheiritance taxes? |
| There is a bill in congress to raise the fed minimum wage a couple bucks IF the inheiritance taxes are abolished. So, it looks lke the little guy gets a crumb and the wealthy get a cake. Are you in ... |
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 I got a notice from the I.R.S.....? |
| ....and it told me that I should pay the enclosed amount within 10 days or they could freeze my accounts and home. The only thing is...THERE IS NO AMOUNT GIVEN! Yes, I plan on calling them on M... |
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 Tax credits - Any advise?? |
| After renewing my claim with these idiotic people i informed them that my husband is not currently working and is in the process of being self employed but not as of yet - I gave them his earnings to ... |
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 21 yr old full time student and made $13,000 . Parents claimed me. Do I get a stimulus check? |
| I am a full-time student that works 35 hrs/wk. My fiancee and I pay for tuition and all living expenses. My parents still chose to claim me on their tax return. Will I see any type of stimulus check?<... |
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 How can Obama get away with raising taxes and calling it a tax break? |
This was a very interesting article, it didn't change my mind but if I had any doubts about McCain it would have: http://online.wsj.com/ar
What are ... |
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 A friend of mine has been given his p45? |
| he has been at this company for 8 yrs ,3 weeks ago his company changed from allclean services to allclean limited, and this week his p45 was in his pay packet, the reason he is being told is that he ... |
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 Wife passed away and can't cash stimulus payment ? |
My wife passed away and the bank wont let me cash the stimulus payment.
I asked the bank to cash it and gave them a death certificate, but they refused and that the check has to be ... |
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| Since the UK is bankrupt and everyone is in debt? |
how exactly has their been an Economic Boom ? There never was one, surely !
Additional Details
It was ALL on credit and the Never Never, wasn't it?... |
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 My chldrn live with me but their dad gets to claim one of them for a dpndnt on his taxes. who gets refund? |
| I get to claim my children for earned income credit but their dad gets to claim one of them as a dependent! They both live with me full time so who gets the refund?... |
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 Does your tax rate decrease when you get to a certain age? |
| For example, if you make $50K and you are 75 years old, do you pay less in taxes than if you made $50K and you were 25 years old?... |
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 CAN someone with no income file taxes? |
| I know that you do not have to file if you have no income, but CAN you? I ask this because I am separated from the person I have two children with. This person has not worked one day for the entire ... |
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~mother of 2 beautiful girls~ | If you win like a $1,000 gift certificate from a store, do you have to claim it for taxes? |
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Arthur R
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Stores don't give "gifts", as one of the answers would suggest....
If it was a sweepstakes, raffle, or frequent or long-term customer prize, it's taxable. If it's because you fell and were injured in the store, and were considering suing them, and they're giving the gift certificate to shut you up, then it's probably not taxable. If it's $1,000 off any new $5,000 purchase in the store, it's considered a purchase price discount, and is probably not taxable.
If the amount of the certificate were less than $600, they probably wouldn't have to report it to the IRS even if it's taxable, but it's _still_ taxable. If it's more than $600, and it's probably taxable, they'll request your Social Security Number, and file a form 1099-MISC with the IRS. (If you don't give them the SSN, they're supposed to withhold 28% of the amount they're giving you, although they may choose to "gross it up" and give you the $1000 gift certificate while reporting $1000/0.72 to the IRS.)
In some cases, it might be taxable as you spend the certificate rather than when you receive it. The details are complicated.
Whether you have to pay sales tax on items your purchase with the gift certificate may depend on state law. |
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Doctor Deth
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any prize of $600 or more and they should give you a 1099 by law |
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Judy1
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Yes, it's taxable income to you. |
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David M
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There is absolutely no question that you must declare that gift certificate on your income tax...if you want to comply with the law.
Whether the company gives you a 1099 or not, this is the same as winning 1000 dollars.
The issue of paying sales tax on your purchases when you use the certificate is completely separate. |
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PGBISME
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Yes you do have to claim it on your taxes, because the company that gives it to you will declare this amount as given to you on their taxes too. |
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Ray
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No.
I also won a $500 gift certificate. All I paid was the sales tax on the purchase. Expect the same treatment. I doubt they will 1099 you. These other guys are wrong !
On a large ticket item, like a car, the winner is usually responsible for sales tax.
Congrats! |
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Jss
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I am not sure about my answer: It is a GIFT (gift certificate). The receiver of the gift does not pay any taxes.
It also depends upon if the store will issue Form 1099-Misc that is how the store treats this amount. |
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bruce ree
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yes give them a different name when accepting it. or just spend it right there. |
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