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 I won $5,200 in groceries. Groceries are not taxable in NJ. Do I owe tax on the money?
The prize was awarded by a radio station in PA.
And if I do owe, does anyone know the fed & state tax rate for winnings?...


 Anyone recieved a notice for the 27th and got their stimulious check?
...


 How do you get a good job if you get a bad discharge from the military?
...


 Has anyone ever experienced being emotionally and fincially "raped" by the IRS?
I work hard and about two years ago, I took that "leap of faith" and changed jobs. The 2nd job change did not work out for me and my third job is now in to almost two years.
I feel ...


 Wheres my refund?
All week I have checked the refund status on the IRS website (Wheres my refund?) I did my taxes with H & R Block online, IRS accepted my return 1/20/08 and on the irs web it said my refund should ...


 What status should I file if I got married last year, but we never lived together due to work?
We both own our homes. I have a dependent.
I've been told I can file head of household, but you can only file this if you are single....


 What are the benifits of a pan card?
...


 We bought a house this year. Can we claim the repairs and improvements on our taxes?
...


 Is 32.5k a good paid job with bonuses up to 40k?
...


 Will i get a stimulus check if i already filed for it and didnt get quailified?

Additional Details
for 2007-2008?...


 When does the advance tax returns with a paycheck stub begin for H&R Block or Jackson Hewitt???
It's a loan you can apply for that will get you a partial amount of the refund they anticipate you will get. You have to have your paycheck stub to get it though. I know it starts around the ...


 Which benifit allowence?
i have health probllems and extreme anxitey problems to the point after 4 years ive realised i definatly cant work right now, i can claim incapacity cause im currently out of work, im 20 and live at ...


 Is there a stimulus check coming or not?!!?
I hope someone out there can clear this up for me. I recieved a letter from the IRS stating that I would recieve a stimulus check...even my tax man confirmed that I would...but I have not! I was ...


 What is the earliest date you can file taxes in the USA?
I'm ready to file! When I do it online?...


 If my wages were £624 how do i work out what tax will be taking off?
...


 My husband owes on a student loan and they threatened to take it out of our income tax...My ? is..?
We can't afford to pay it off right now(due to debt) and when they told us this he had a different job at the time. Since then we have moved and his job has changed and they have no idea where ...


 Is my grandmother eligible for a Economic Stimulus Act refund if she is retired?
she is retired with no dependants. she did not file a income tax return either. what do i need to ...


 What is the earliest you can file your taxes this year?
i dont have my w-2 but i can do it with my last stub ! what's the earliest date?...


 If I don't pay my income tax, how long before the IRS comes after me?
I owe, $1,114.00 in Federal. I aint got it.
Additional Details
They can't garnish my wages if I have no wages. Just waiting for them to come and get me so I can have food and bed....


 How can you have different refund amounts on taxes by using different preparers??
hr block vs. jackson hewitt vs doing it yourself. Deductions are Deductions??How can one company get you more than another???...



mog_ron
My wife has inherited $75,000 from her grandfather who died. Will she be taxed as if it were work income?
We file taxes separately. She is a full time grad student and has not had any income for the last three years. Since this is the end of the year are there any tax deductions (charitable or otherwise) she should be aware of to apply before this friday.
                     
 




mattapan26
Rating
There is no income tax on inheritance or gifts. Estate tax is imposed at the estate level. Unless the executor or trustee is a madman, any estate tax was paid before the checks were sent to beneficiaries. As a technical matter, your wife could have to pay a portion of the gift as her share of estate tax if the executor did in fact fail to pay the estate taxes (which are also the executor's personal liability).


ninasgramma
Was this inheritance outside of a retirement account? If so, there is no income tax on this money.

Was this inheritance part of a traditional IRA or pre-tax employer plan? Then there will be income tax due on this inheritance. If this is the case she should study her options for receiving this money so her taxes are minimized.

For planning purposes, be aware that any earnings on this money after the date of inheritance are taxable.


Mathew
Rating
The first question that must be addressed is the state you live in. Some states have inheritance tax but most do not. You should check the web site for your states taxing authority. As for the Federal income tax there will not be any unless the funds were "pre-tax dollars" held in something like a Traditional IRA. If the money was in some type of interest bearing account between the date of death for her grandfather and the date she received it there would be tax due on the interest. As for filing separately that may not have been the best way. You may want to have a tax professional review the past three years to determine if Married Filing Jointly would have benefited you. If it would you can amend those years and receive the increased refund.


woodluvto
She has no income tax or inheritance tax payable on this amount. It is tax free.


angrysandwichguy2000
Rating
There is inheritance tax. Income tax is something else.


ricks
Rating
depends on where exactly it comes from. Life insurance= tax free regardless of amount. IRA or annuity= maybe


waggy_33
Rating
Inheritated money and assets are not income to the receiver. If any estate or inheriance taxes are due the executor of her grandfathers estate should have paid those before your wife received anything.
Invest the money and enjoy.


Jerry
She will not have income tax on this amount.


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