Tax Refund Answers
How do I know which tax refund I will get in a lump sum?
Q. I know this is a dumb question, but I'm young and learning. The person who did my taxes sent me a letter breaking it down for me. However, I am unsure which I will get in a huge sum, and which is broken down every few months till the end of the year?. Do I get the federal and Quebec refund in a lump sum, and its the GST and QST credit that I get in bits and peices over the year?. I want to know which money I will see first, as I'm quite upset at how low my federal and quebec tax refund is! QUEBEC / Canadian ONLY respond. Thanks!
Asked by Jai247 - Tue Apr 24 00:20:07 2007 - Canada - 1 Answers - Comments
A. Hi Jai, let me say this for starters... No question is ever dumb... If you don't ask questions, you will never learn, right? Now, to answer your question. I am in Ontario, and I understand that Quebec is the only province that actually submits federal and provincial tax returns separately. The federal and Quebec tax refunds will be paid in a lump sum. The GST is paid quarterly, starting in July 2007. However, if you total GST entitlement is less than $100.00, it gets paid all at once in July. Here is the CRA link for GST: I found the QST website for you Jai, it is: The QST is paid in August and December. I hope this information helps you.
Answered by taxgal2007 - Tue Apr 24 00:27:23 2007
Q. I know this is a dumb question, but I'm young and learning. The person who did my taxes sent me a letter breaking it down for me. However, I am unsure which I will get in a huge sum, and which is broken down every few months till the end of the year?. Do I get the federal and Quebec refund in a lump sum, and its the GST and QST credit that I get in bits and peices over the year?. I want to know which money I will see first, as I'm quite upset at how low my federal and quebec tax refund is! QUEBEC / Canadian ONLY respond. Thanks!
Asked by Jai247 - Tue Apr 24 00:20:07 2007 - Canada - 1 Answers - Comments
A. Hi Jai, let me say this for starters... No question is ever dumb... If you don't ask questions, you will never learn, right? Now, to answer your question. I am in Ontario, and I understand that Quebec is the only province that actually submits federal and provincial tax returns separately. The federal and Quebec tax refunds will be paid in a lump sum. The GST is paid quarterly, starting in July 2007. However, if you total GST entitlement is less than $100.00, it gets paid all at once in July. Here is the CRA link for GST: I found the QST website for you Jai, it is: The QST is paid in August and December. I hope this information helps you.
Answered by taxgal2007 - Tue Apr 24 00:27:23 2007
How long could tax refund be recieved for first time filing in Ontario?
Q. I need help to know the proximate time for my tax refund to be received. It's my first time to file by mail.
Asked by jeanette b - Sat Apr 4 12:14:05 2009 - Canada - 2 Answers - Comments
A. The following are working days (Mon. to Fri.): Net file = 7 day refund time (if you have direct deposit), 10 days if you don't have direct deposit Mailed in return = at least 35 days, quite possibly now 50 working days if you filed just recently as the CRA is in its peak of processing at this time of year.
Answered by cnauta70 - Sun Apr 5 13:11:53 2009
Q. I need help to know the proximate time for my tax refund to be received. It's my first time to file by mail.
Asked by jeanette b - Sat Apr 4 12:14:05 2009 - Canada - 2 Answers - Comments
A. The following are working days (Mon. to Fri.): Net file = 7 day refund time (if you have direct deposit), 10 days if you don't have direct deposit Mailed in return = at least 35 days, quite possibly now 50 working days if you filed just recently as the CRA is in its peak of processing at this time of year.
Answered by cnauta70 - Sun Apr 5 13:11:53 2009
Does a state tax refund take longer to get back than a federal?
Q. I'm from ND and I finled my taxes by E-file. I've received my federal refund on Good Friday, but I haven't gotten my state back yet. Has this happened to anyone else? I checked my status on our state tax commissioner website and it says it's been received and being processed. Do state refunds usually take longer than a federal?
Asked by Jill H - Thu Apr 3 00:25:17 2008 - United States - 11 Answers - Comments
A. it has been my experience that the State return tends to take 1-2 weeks longer than the Federal
Answered by BIG JOE - Thu Apr 3 01:38:15 2008
Q. I'm from ND and I finled my taxes by E-file. I've received my federal refund on Good Friday, but I haven't gotten my state back yet. Has this happened to anyone else? I checked my status on our state tax commissioner website and it says it's been received and being processed. Do state refunds usually take longer than a federal?
Asked by Jill H - Thu Apr 3 00:25:17 2008 - United States - 11 Answers - Comments
A. it has been my experience that the State return tends to take 1-2 weeks longer than the Federal
Answered by BIG JOE - Thu Apr 3 01:38:15 2008
How quick do you receive your tax refund using turbo tax online?
Q. How long do it usually take to receive your tax refund check if you file online using turbo tax? Filing tomorrow. Thanks!
Asked by lisamarie_625 - Thu Jan 29 21:50:55 2009 - United States - 3 Answers - Comments
A. The estimated dates for refunds are shown in IRS Publication 2043. Generally it's 1-2 weeks for a direct deposit, and 2-3 weeks for a paper check to be mailed (add an extra week for it to actually get to you.)
Answered by in0d3 - Mon Feb 2 07:49:28 2009
Q. How long do it usually take to receive your tax refund check if you file online using turbo tax? Filing tomorrow. Thanks!
Asked by lisamarie_625 - Thu Jan 29 21:50:55 2009 - United States - 3 Answers - Comments
A. The estimated dates for refunds are shown in IRS Publication 2043. Generally it's 1-2 weeks for a direct deposit, and 2-3 weeks for a paper check to be mailed (add an extra week for it to actually get to you.)
Answered by in0d3 - Mon Feb 2 07:49:28 2009
can your tax refund be higher than what you earned?
Q. A friend of mine has used an online tax prep site and she only earned around 10k last year (she's really a full time homemaker). Anyway, she claims her refund this year will be in excess of 13k, is that possible?? She has two dependents and is filing head of household. I'm really worried she may have done something wrong and will be audited. Thanks!
Asked by domonique_00 - Sat Jan 5 18:52:59 2008 - United States - 4 Answers - Comments
A. Only if she had her employer withhold 80% of her wages for Federal income tax. With FICA that would have left her with about $1,500 in take home pay for the entire year. While theoretically possible it would never happen as a practical matter. She's blowing smoke. OR she made a heck of a lot more than $10k and was severely over-withheld.
Answered by Bostonian In MO - Sat Jan 5 19:02:41 2008
Q. A friend of mine has used an online tax prep site and she only earned around 10k last year (she's really a full time homemaker). Anyway, she claims her refund this year will be in excess of 13k, is that possible?? She has two dependents and is filing head of household. I'm really worried she may have done something wrong and will be audited. Thanks!
Asked by domonique_00 - Sat Jan 5 18:52:59 2008 - United States - 4 Answers - Comments
A. Only if she had her employer withhold 80% of her wages for Federal income tax. With FICA that would have left her with about $1,500 in take home pay for the entire year. While theoretically possible it would never happen as a practical matter. She's blowing smoke. OR she made a heck of a lot more than $10k and was severely over-withheld.
Answered by Bostonian In MO - Sat Jan 5 19:02:41 2008
What should I do about a tax refund error made by a national tax preparation company?
Q. "Get your refund quickly" the company promised but they left out one number and the check was returned to the IRS. I called the company and was told it was a banking error. Since I signed the paper the only thing they can do is give me the IRS phone number. My response~ I gave the correct number ~ it was not a banking error and I trusted the company to submit the correct information. Do you think they owe me anything? like a tax prep refund?Since it is a national company, who can I contact?
Asked by gimme1latte - Sat Mar 1 08:03:35 2008 - United States - 4 Answers - Comments
A. No, they don't owe you anything. It was your responsibility to verify the account number on your copy of the return to be sure it was correct. When I do someone's return and they do direct deposit, I always have them verify the account number against their checkbook when we are going over the copy of their return at the end, just to avoid issues like this.
Answered by Judy - Sat Mar 1 11:26:46 2008
Q. "Get your refund quickly" the company promised but they left out one number and the check was returned to the IRS. I called the company and was told it was a banking error. Since I signed the paper the only thing they can do is give me the IRS phone number. My response~ I gave the correct number ~ it was not a banking error and I trusted the company to submit the correct information. Do you think they owe me anything? like a tax prep refund?Since it is a national company, who can I contact?
Asked by gimme1latte - Sat Mar 1 08:03:35 2008 - United States - 4 Answers - Comments
A. No, they don't owe you anything. It was your responsibility to verify the account number on your copy of the return to be sure it was correct. When I do someone's return and they do direct deposit, I always have them verify the account number against their checkbook when we are going over the copy of their return at the end, just to avoid issues like this.
Answered by Judy - Sat Mar 1 11:26:46 2008
How long is the limit for getting a tax refund from the state of nebraska?
Q. I know that the Federal Government allows up to three years for someone to get a tax refund, but what is the limit for Nebraska State income tax refunds??
Asked by Star Mountain - Sat Apr 14 00:54:03 2007 - United States - 1 Answers - Comments
A. Same thing as the fed. Actually, it's the current year and three years prior (total of four years). On April 15, you'll lose one of those years.
Answered by - Sun Apr 15 06:19:52 2007
Q. I know that the Federal Government allows up to three years for someone to get a tax refund, but what is the limit for Nebraska State income tax refunds??
Asked by Star Mountain - Sat Apr 14 00:54:03 2007 - United States - 1 Answers - Comments
A. Same thing as the fed. Actually, it's the current year and three years prior (total of four years). On April 15, you'll lose one of those years.
Answered by - Sun Apr 15 06:19:52 2007
TAX refund???
Q. what are some of the things a single person with no dependents and paying no rent list on there tax refund? i am paying for a new car can i list that on my taxes? what about my crazy insurance payment can i list that (living in California)??? and what are some other good things i can list???
Asked by 06tiburon - Fri Jan 12 00:57:41 2007 - United States - 7 Answers - Comments
A. the only thing you can use your car on tax wise is the property tax on it (usually your license tag renewal) insurance nope. how are you not paying rent unless you have a mortgage? The mortgage IS eligible (at least the interest on it)
Answered by zyberianwarrior - Fri Jan 12 01:11:39 2007
Q. what are some of the things a single person with no dependents and paying no rent list on there tax refund? i am paying for a new car can i list that on my taxes? what about my crazy insurance payment can i list that (living in California)??? and what are some other good things i can list???
Asked by 06tiburon - Fri Jan 12 00:57:41 2007 - United States - 7 Answers - Comments
A. the only thing you can use your car on tax wise is the property tax on it (usually your license tag renewal) insurance nope. how are you not paying rent unless you have a mortgage? The mortgage IS eligible (at least the interest on it)
Answered by zyberianwarrior - Fri Jan 12 01:11:39 2007
does a tax refund have to be reported when receiving welfare?
Q. My sister is receiving welfare in california, does she have to report to the welfare department if she got a tax refund? thanks for the answers..now lets say she hasn't worked since last year in august and she receives child support too...yeah i know my sister is one of those everyone criticizes...if she's got no income coming in does she have to report that as income on the quarterly report they send her?
Asked by J B - Tue Apr 29 19:45:00 2008 - United States - 5 Answers - Comments
A. It is best to let welfare know that she received a refund because you are required to report any income received, however, the refund will NOT affect her monthly benefits. They are not able to use it like wages from a job. She needs to report any income she receives including child support. Does she receive her full child support each month or just the $50.00 disregard payment. Usually when you apply for benefits in California, you sign your rights over as far as the child support goes and you only receive $50.00 and the rest is going to the state to pay for benefits received. Regardless if the money she has received is from employment wages, tax refunds, child support, or even someone giving her money, she is supposed to report it to the… [cont.]
Answered by Jerribear76 - Thu May 1 08:28:13 2008
Q. My sister is receiving welfare in california, does she have to report to the welfare department if she got a tax refund? thanks for the answers..now lets say she hasn't worked since last year in august and she receives child support too...yeah i know my sister is one of those everyone criticizes...if she's got no income coming in does she have to report that as income on the quarterly report they send her?
Asked by J B - Tue Apr 29 19:45:00 2008 - United States - 5 Answers - Comments
A. It is best to let welfare know that she received a refund because you are required to report any income received, however, the refund will NOT affect her monthly benefits. They are not able to use it like wages from a job. She needs to report any income she receives including child support. Does she receive her full child support each month or just the $50.00 disregard payment. Usually when you apply for benefits in California, you sign your rights over as far as the child support goes and you only receive $50.00 and the rest is going to the state to pay for benefits received. Regardless if the money she has received is from employment wages, tax refunds, child support, or even someone giving her money, she is supposed to report it to the… [cont.]
Answered by Jerribear76 - Thu May 1 08:28:13 2008
How much tax refund should I get with 3 kids and my boyfriend?
Q. I make 40,000 this year I have 3 kids and I claim my boyfriend too... My kids are 3yrs 5yrs and 9 yes old I was wondering if I got the right money from my tax refund they took out 3164 for my federal and1145 for state is anyone can tell me how much should I get back pls...
Asked by - Wed Apr 6 00:48:09 2011 - United States - 4 Answers - Comments
A. There's no way anyone here could honestly tell you that without seeing your tax return WHICH WE'Re not about to ask for. Sorry.
Answered by - Wed Apr 6 00:53:01 2011
Q. I make 40,000 this year I have 3 kids and I claim my boyfriend too... My kids are 3yrs 5yrs and 9 yes old I was wondering if I got the right money from my tax refund they took out 3164 for my federal and1145 for state is anyone can tell me how much should I get back pls...
Asked by - Wed Apr 6 00:48:09 2011 - United States - 4 Answers - Comments
A. There's no way anyone here could honestly tell you that without seeing your tax return WHICH WE'Re not about to ask for. Sorry.
Answered by - Wed Apr 6 00:53:01 2011
Can you get one-half of tax refund from the tax years of 2001 and 2002 from ex-spouse?
Q. I am asking this question for a co-worker. If the couple file joint returns, divorced in 2002, and the ex-spouse forged signatures on 2001 and 2002 tax returns -- then, deposited entire tax refunds into their account ... Can the other party get their one-half tax refund back? The IRS said that they are not responsible for divorce tax issues. Thank you.
Asked by annswers - Fri Feb 1 08:15:22 2008 - United States - 4 Answers - Comments
A. Yes, the person can try to recover those funds, but not from the IRS. This is not an IRS issue, it's an issue between the two parties. The injured party (your coworker) should look at going after the ex for fraud/theft/misrepresentation. The options depend largely on the state he/she lives in, but he/she could ultimately file suit to try and recover the funds.
Answered by tagej - Fri Feb 1 08:22:06 2008
Q. I am asking this question for a co-worker. If the couple file joint returns, divorced in 2002, and the ex-spouse forged signatures on 2001 and 2002 tax returns -- then, deposited entire tax refunds into their account ... Can the other party get their one-half tax refund back? The IRS said that they are not responsible for divorce tax issues. Thank you.
Asked by annswers - Fri Feb 1 08:15:22 2008 - United States - 4 Answers - Comments
A. Yes, the person can try to recover those funds, but not from the IRS. This is not an IRS issue, it's an issue between the two parties. The injured party (your coworker) should look at going after the ex for fraud/theft/misrepresentation. The options depend largely on the state he/she lives in, but he/she could ultimately file suit to try and recover the funds.
Answered by tagej - Fri Feb 1 08:22:06 2008
If you have a tax refund offset, how long will it take to get the balance of the refund by direct deposit?
Q. We have a federal refund of 2300, but owe 800 in state income tax. How long will it take to get the balance of our refund deposited into my bank account after the state takes what we owe?
Asked by ms. b - Mon Feb 18 10:03:03 2008 - United States - 2 Answers - Comments
A. Hi. Re-reading your question, it appears you may be asking: what if I owe on the State? There's no correlation here. Get your Federal e Filed quickly. Just do Turbotax or Tax Act. e File on the Federal only and the free Federal e File. Then go to your State website. You can find it in any search engine. Many States returns are not due until May 1. So, if you owe, wait until the last minute. If the IRS accepts your return, you should get your State back in 5 business days and your Federal in 10-15 business days depending upon how late in the season. This also depends upon the software not messing up. You have to keep checking to make sure it went through. I've bought very expensive software before (drake) and it didn't go through. I got all… [cont.]
Answered by notaperviemusculargent - Mon Feb 18 19:39:32 2008
Q. We have a federal refund of 2300, but owe 800 in state income tax. How long will it take to get the balance of our refund deposited into my bank account after the state takes what we owe?
Asked by ms. b - Mon Feb 18 10:03:03 2008 - United States - 2 Answers - Comments
A. Hi. Re-reading your question, it appears you may be asking: what if I owe on the State? There's no correlation here. Get your Federal e Filed quickly. Just do Turbotax or Tax Act. e File on the Federal only and the free Federal e File. Then go to your State website. You can find it in any search engine. Many States returns are not due until May 1. So, if you owe, wait until the last minute. If the IRS accepts your return, you should get your State back in 5 business days and your Federal in 10-15 business days depending upon how late in the season. This also depends upon the software not messing up. You have to keep checking to make sure it went through. I've bought very expensive software before (drake) and it didn't go through. I got all… [cont.]
Answered by notaperviemusculargent - Mon Feb 18 19:39:32 2008
My tax refund was deposited into 2 accts. Will my rebate be deposited or sent by mail?
Q. I had my tax refund split into 2 accounts. Will my rebate be deposited into the first account that I listed on my tax returns or will I get a paper check and if so when?
Asked by iamjustgaming - Mon Apr 28 19:16:17 2008 - United States - 6 Answers - Comments
A. Read about 80% of the questions posted in US taxes. The answer to your question is there somewhere.
Answered by wartz - Mon Apr 28 19:18:57 2008
Q. I had my tax refund split into 2 accounts. Will my rebate be deposited into the first account that I listed on my tax returns or will I get a paper check and if so when?
Asked by iamjustgaming - Mon Apr 28 19:16:17 2008 - United States - 6 Answers - Comments
A. Read about 80% of the questions posted in US taxes. The answer to your question is there somewhere.
Answered by wartz - Mon Apr 28 19:18:57 2008
Can I still get my full tax refund if there is a lien against me. This is not a tax lien?
Q. Recently, a creditor won a judgement against me for an outstanding credit card debt. I am concerned that my tax refund will be taken. Is this a possibility?
Asked by misskrisme1@verizon.net - Fri Feb 2 13:28:56 2007 - United States - 6 Answers - Comments
A. It usually depends on the nature of the lien. Liens are usually filed on assets, such as a mechanics lien, or on wages, such as garnishments. Some liens have specific provisions to sieze federal and state tax refunds. Usually these liens are result from a public debt, such as a federal student loan default, a tax lien, or a lien from a government. In most of these liens, special notices are provided is your tax refunds are at risk of siezure.
Answered by tax_black_belt - Fri Feb 2 13:36:34 2007
Q. Recently, a creditor won a judgement against me for an outstanding credit card debt. I am concerned that my tax refund will be taken. Is this a possibility?
Asked by misskrisme1@verizon.net - Fri Feb 2 13:28:56 2007 - United States - 6 Answers - Comments
A. It usually depends on the nature of the lien. Liens are usually filed on assets, such as a mechanics lien, or on wages, such as garnishments. Some liens have specific provisions to sieze federal and state tax refunds. Usually these liens are result from a public debt, such as a federal student loan default, a tax lien, or a lien from a government. In most of these liens, special notices are provided is your tax refunds are at risk of siezure.
Answered by tax_black_belt - Fri Feb 2 13:36:34 2007
If I am getting a tax refund from 2007 tax, will I still get the tax rebate check?
Q. I filed my 2007 taxes and am recieving a tax refund. Will we recieve the tax rebate? There is myself, my hubby and 5 kids. We made around $24,000 last year. Do we qualify for the rebate check? And how much will we be getting if we do qualify?
Asked by gamelady_verlina - Wed Feb 13 17:06:56 2008 - United States - 8 Answers - Comments
A. Yes, you qualify. Depending on the age of the kids, you'll get $2100. Assuming you paid less than $600 in 2007 Federal Income Tax, you will receive $600 for the two of you and $1500 for the five kids if they are under the age of 17. but be careful spending the money. While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers. It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending… [cont.]
Answered by Richard M - Wed Feb 13 17:42:02 2008
Q. I filed my 2007 taxes and am recieving a tax refund. Will we recieve the tax rebate? There is myself, my hubby and 5 kids. We made around $24,000 last year. Do we qualify for the rebate check? And how much will we be getting if we do qualify?
Asked by gamelady_verlina - Wed Feb 13 17:06:56 2008 - United States - 8 Answers - Comments
A. Yes, you qualify. Depending on the age of the kids, you'll get $2100. Assuming you paid less than $600 in 2007 Federal Income Tax, you will receive $600 for the two of you and $1500 for the five kids if they are under the age of 17. but be careful spending the money. While the rebate depends on your 2007 income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers. It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes. Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending… [cont.]
Answered by Richard M - Wed Feb 13 17:42:02 2008
What is a tax refund, will I get one at a minimum wage job and how much will it be?
Q. I've had a job since September 2010 and of course, they take taxes out of my check every week. So what is a tax refund? Will it be a good amount of money?
Asked by Justin R - Sat Nov 27 01:04:16 2010 - United States - 3 Answers - Comments
A. They take taxes out based on what you put on your W-4. If too much is withheld, they refund the overpayment. Without knowing how much you made or how much was withheld, no way to guess.
Answered by Judy - Sat Nov 27 13:19:48 2010
Q. I've had a job since September 2010 and of course, they take taxes out of my check every week. So what is a tax refund? Will it be a good amount of money?
Asked by Justin R - Sat Nov 27 01:04:16 2010 - United States - 3 Answers - Comments
A. They take taxes out based on what you put on your W-4. If too much is withheld, they refund the overpayment. Without knowing how much you made or how much was withheld, no way to guess.
Answered by Judy - Sat Nov 27 13:19:48 2010
Can your tax refund be considered for child support?
Q. My Ex is suppose to pay a percentage of his income for child support. He told me he is going to claim 0 on his returns in order to get less on his pay check and there for pay less in child support. He also expects to not pay any support out of his refund if any. Is the tax refund considered income for calculating child support? If so, what can I do?
Asked by final52 - Sun Feb 3 09:52:56 2008 - United States - 6 Answers - 1 Comments
A. If he owes back child support payments, he will not receive all his refund back. You need to contact your state office of child support enforcement. They will notify the treasury of a past due child support obligation. Contact them as soon as possible.
Answered by Anne2 - Sun Feb 3 10:13:27 2008
Q. My Ex is suppose to pay a percentage of his income for child support. He told me he is going to claim 0 on his returns in order to get less on his pay check and there for pay less in child support. He also expects to not pay any support out of his refund if any. Is the tax refund considered income for calculating child support? If so, what can I do?
Asked by final52 - Sun Feb 3 09:52:56 2008 - United States - 6 Answers - 1 Comments
A. If he owes back child support payments, he will not receive all his refund back. You need to contact your state office of child support enforcement. They will notify the treasury of a past due child support obligation. Contact them as soon as possible.
Answered by Anne2 - Sun Feb 3 10:13:27 2008
Will the tax stimulus check reduce my income tax refund that we will get next year?
Q. If we normally get about 5000 dollars in a tax refund will we get 1200 less next year? I have read both yes and no. I know in years past this has been the case that it has reduced the amount of our tax refund when we fill the next year.
Asked by applecrisp - Tue May 13 09:48:28 2008 - United States - 3 Answers - 1 Comments
A. If you beleive the answer is no you are nuts. They will tax you on it for next year taxes. It will be included in your income for next year. Remember when they gave us the child tax credit check a couple of years ago, they said the same thing. And sure enough we got hit with the taxes on that one. So, we will get hit in the taxes for this stimulus check as well. We the people will never get a break from the government at all.
Answered by nan270964 - Tue May 13 10:07:49 2008
Q. If we normally get about 5000 dollars in a tax refund will we get 1200 less next year? I have read both yes and no. I know in years past this has been the case that it has reduced the amount of our tax refund when we fill the next year.
Asked by applecrisp - Tue May 13 09:48:28 2008 - United States - 3 Answers - 1 Comments
A. If you beleive the answer is no you are nuts. They will tax you on it for next year taxes. It will be included in your income for next year. Remember when they gave us the child tax credit check a couple of years ago, they said the same thing. And sure enough we got hit with the taxes on that one. So, we will get hit in the taxes for this stimulus check as well. We the people will never get a break from the government at all.
Answered by nan270964 - Tue May 13 10:07:49 2008
How do I get my tax refund to be deposited into my bank account?
Q. I have never used direct deposit with my tax refund before, so I don't know how to get it set up. We didn't file our taxes electronically. How do I "sign up" to get my entire tax refund into my bank account? Is it a separate form or something? Also, I have not filed my return yet. :)
Asked by Hailey's Mama - Mon Mar 24 14:18:36 2008 - United States - 3 Answers - 1 Comments
A. If you've already filed it's too late now. There's a place near the bottom of your tax return to enter the routing number and account number for direct deposit. You "sign up" by selecting the direct deposit option and filling in the routing number and account number.
Answered by Bostonian In MO - Mon Mar 24 14:32:34 2008
Q. I have never used direct deposit with my tax refund before, so I don't know how to get it set up. We didn't file our taxes electronically. How do I "sign up" to get my entire tax refund into my bank account? Is it a separate form or something? Also, I have not filed my return yet. :)
Asked by Hailey's Mama - Mon Mar 24 14:18:36 2008 - United States - 3 Answers - 1 Comments
A. If you've already filed it's too late now. There's a place near the bottom of your tax return to enter the routing number and account number for direct deposit. You "sign up" by selecting the direct deposit option and filling in the routing number and account number.
Answered by Bostonian In MO - Mon Mar 24 14:32:34 2008
How do I figure out my tax refund for owning a home?
Q. My husband and I are considering buying a home for the first time and I've heard about the tax break we'd get, but I'm not sure if there's a way to predict what refund we would get. It would greatly help in making our decision to buy or continue renting. If we're in the 25% tax bracket (combined income is $93,000) and pay 6.5% interest on a $160,000 mortgage loan, approximately how much should we get back?
Asked by angelzoey2 - Wed Aug 1 17:54:21 2007 - United States - 3 Answers - Comments
A. Merely owning a home does not guarantee you any refund. You only get a refund if your tax liability is less than your withholdings. Buying a home MAY reduce your tax liability a bit, but in most parts of the country the benefits are way overblown by the real estate industry. Read on, please. If you own a home you get to deduct your mortgage interest and property taxes if you itemize your deductions. For tax year 2007, you'll need at least $10,700 in itemized deductions when filing a joint return to make itemizing worthwhile. You should come pretty close to that with the interest payments if you owned the home all year and your property taxes may well put you over that amount. You'll get tax benefit from the excess over the standard… [cont.]
Answered by Bostonian In MO - Wed Aug 1 18:54:43 2007
Q. My husband and I are considering buying a home for the first time and I've heard about the tax break we'd get, but I'm not sure if there's a way to predict what refund we would get. It would greatly help in making our decision to buy or continue renting. If we're in the 25% tax bracket (combined income is $93,000) and pay 6.5% interest on a $160,000 mortgage loan, approximately how much should we get back?
Asked by angelzoey2 - Wed Aug 1 17:54:21 2007 - United States - 3 Answers - Comments
A. Merely owning a home does not guarantee you any refund. You only get a refund if your tax liability is less than your withholdings. Buying a home MAY reduce your tax liability a bit, but in most parts of the country the benefits are way overblown by the real estate industry. Read on, please. If you own a home you get to deduct your mortgage interest and property taxes if you itemize your deductions. For tax year 2007, you'll need at least $10,700 in itemized deductions when filing a joint return to make itemizing worthwhile. You should come pretty close to that with the interest payments if you owned the home all year and your property taxes may well put you over that amount. You'll get tax benefit from the excess over the standard… [cont.]
Answered by Bostonian In MO - Wed Aug 1 18:54:43 2007
From Yahoo Answer Search: 'tax refund'
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