 Help! Still no tax refund! Filed 2/7, Accepted 2/8? |
| I still have not recieved my tax refund! I filed on 2/7, my return was accepted 2/8. I checked my status online last week and they posted that I would receive it by the 20th, then I checked today and ... |
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 Name a good that you? |
| name a good that you have to pay local, state, and federal taxes on.... |
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 Do I qualify for a stimulus payment? |
| I am18 and am filed as a dependent on my parents tax return. I have a job tho and filed a 2007 tax return. Do i qualify?... |
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 Why do I still owe? How can I fix this? |
| I claim 2 allowances. i just rechecked the W-4 and this should be the correct amount. I am a single adult who claims myself and have only one job. This is covered in the first 2 lines. So I beleive I ... |
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 Is signing bonus money earned income for tax purposes? |
| We got a signing bonus and relocation expenses at the end of 2007. Is this considered earned income for the earned income credit, or should I not apply for the earned income credit? This is the ... |
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 My parents just died and my question is, is there any taxes on what is in the estate? |
that I will have to pay.
They have $100,000 in stock
They have $100,000 in a savings account
They have $100,000 in a money market IRA
They have a condo that we will be selling at ... |
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 Can debt collectors garnish your tax refund? |
| I have a large amount of medical-expense debt that I'll never be able to pay off. Can they/collection agencies take your tax refunds?... |
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 Can my dad claim me (i'm 24) on his taxes? and my son as well?///? |
| my son and i lived with my parents for most of 2006 and, he wants to claim me and my son. i am 24 years old and, married but, have been seperated since april 06'. and, my son is not my husbands.<... |
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 I recieved an e-mail from aJohn Smith, UK National Lottery representive claiming I WON. Is it legit? |
| I e-mailed this person back asking what I had to do. Of course he said supply him with some personal information that would only be used for claiming the winnings. This isn't the first e-mail I&#... |
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 Can my ex's mother still claim me&daughter on her taxes,even though i moved out? |
| Okay i lived there for two and half years.But with in that two years i moved about 6 times.(cause of the abuse) And i wasn't working,she was paying for everything, She claimed me during 05,06,&... |
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 State Return - I live in Texas - I know I don't *have to* file a State Return since I live in TX but one of |
| my W-2's state that $6675 was witheld - #16 - State wages, tips, etc. Is this a problem? Should I file a State return? Can I file a State Return? Would it help the fact that I owe money for ... |
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 Why do I OWE money on my 2007 tax return? |
| I just don't get it. Last return (for 2006) I was on unemployment for a few months and ended up owing $133. This year, I held 4 jobs - total income of around $1700. Why do I owe twice as much ... |
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 A question from the States? |
| Does any one recognize this? I know it's a scam, but has any one else seen this. ( UK National Lottery Online Promo Progamme ). Any info is appreciated. It's going on all over here and the ... |
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katibug♥ | Why do some people get a ton of money back on their taxes and I get next to nothing? ? |
I work full time, at 10 an hour. My tax return came to refund of like 70 dollars. How is that? If most people have full time jobs, how are they getting more back than i am? |
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Lakewood C
 |
Because those other people foolishly have not claimed as many
dependents as they are entitled to on their W-4s. They get back
bigger refunds, but what they've actually done is given the gov't
an interest-free loan for up to a year. Assuming your tax returns
are filled out properly, you're okay. |
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Rick B
 |
Well most make a lot more than that and have more taken out. We also have lots of deductions - kids, mortgage interest, etc
If you want a larger refund, then have more taken out of each check. BUT, then you would be loaning YOUR money to the IRS for free. Not a good idea.
What you are getting back is almost perfect. It means you are having almost exactly the right amount withheld. |
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rtfm
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Because a lot of people -- either on purpose, or because they don't understand what they're doing -- have their employers withhold too much of each week's paycheck for the IRS. When they calculate the taxes they owe at the end of the year, it turns out they don't owe as much as they have sent to the IRS already, and so they get some of their own money back again in the form of a refund.
You're having just about the right amount withheld to pay all the taxes you owe, so you don't get a lot of the extra back again. That's really the best way to do it -- you get to use your *own* money during the year, as you earn it, instead of letting the government hold it for you like some kind of interest-free savings account. |
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Wayne Z
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1) More taxes withheld.
2) Kids
3) House
The easiest way to get a large refund is to have a few kids that you can't afford and to have a big house that you can't really afford. Not that I would recommend either as a money saving strategy. |
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chatsplas
 |
Because your W-4 is adjusted perfectly to limit your withholding to almost exactly what you owe. Because your income is too high to qualify for EIC, which is a refundable credit for the working poor.
Lower your taxable income by contributing to your work 401k or setting up an IRA. |
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OFFICER SEXY PEACH
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you're getting more of your money back doing the year and their getting less back in their paychecks doing the year and get it back at tax time by loaning the government their money interest free.
which makes you smarter by the way,but it goes by how many exemptions you claim on your w-4 at work if you want to get a bigger refund you need to do another w-4 by claiming less exemptions which would make your paychecks less then. |
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Angelita
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Consider yourself lucky, in the UK the only way to get tax back is to be self employed. |
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halfmile200
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The question accountants love to hear. The answer to your question is simple, anytime you have a refund, or balance due for that matter, of <$100 your withholding is right in line to where it should be for federal tax purposes.
The way it is now you are receiving everything you should be on every paycheck and in this day and age that is very important, any higher withholding and you are giving an interest-free loan to the government. So basically you would be foregoing money you could have in your pocket now to get it back, without any interest, months from now.
The reason they receive more is plentiful, everything from children/dependants, to being able to itemize, to EIC and other credits. Remember just because you work the same job as somebody else doesn't mean that your returns will be exactly the same, do you where the exact same sized clothing? drive the same vehicles? live in the same sized and designed house? Of course not, everyone is different and has different factors affecting their returns. That is why they are called INDIVIDUAL tax returns. |
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Hockey Stix
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If there are children involved, there are a lot of credits against their tax. What did you claim on your Form W-4 when you started your job? The best is single and zero. They take the most tax out of your check, but you would get a bigger refund when you file your taxes. |
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Kal-El
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It's because you are not paying in as much and probobly don't have any dependents.
Keep in mind, your tax refund is not free money that is equal for everyone. It is a Refund of over taxes you paid. At $10 an hour you probobly haven't contributed enough to get a bunch back. |
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