Related Tax Questions
If you had credit card debt in your name received 1099-C cancellation of debt must you list this inc
When you acquire credit card debt, you basically received your credit card bill at the end of the month and did not pay it in full. This...... Read More
Does interest owed to the Internal Revenue Service stop accruing during Chapter 13 bankruptcy?
The way that Chapter 13 bankruptcy works is that instead of appointing another person as trustee of your estate, and allowing them...... Read More
Can credit card creditors take your income tax refund?
There are only three conditions in which your tax refund is in danger of being seized. One is if you default on your...... Read More
On a repossion can the IRS collect for the bank?
Say for example you buy a car on credit from a dealership. On paper, the bank paid for your car so that makes you a debtor and the bank a...... Read More
If your wages are garnished can they also take your tax refund?
When your wages are garnished that means you had acquired a debt from a lender (can be mortgage debt, credit card debt, etc.) and...... Read More
Can I receive a tax refund greater than what I paid in?
A tax refund is treated like a payment of tax you made during the year. You get the credit, even if you do not owe tax.... Read More
Do states with no income tax like Texas have to pay deferred money to baseball players?
Texas is one of nine states that does not enforce a mandated state income tax for its citizens. Instead the tax rates in all other areas are higher...... Read More
How long does it take to get your federal tax return back in the mail?
Unfortunately, it does take quite awhile for you to receive your federal tax returns back in the mail. Ideally, it roughly takes about...... Read More
What is proportional tax and what is regressive tax and an example of each?
A proportional tax is a tax that takes income from all income groups so that the income tax rate is fixed. The amount that is...... Read More
Is the federal income tax a progressive tax or a regressive tax?
A progressive tax is when the government imposes a tax code that allows them to charge higher taxes to those who have a lot of income, while charging a lower rate to those with a lower income. A regressive tax is when the complete opposite happens. The go... Read More
How does filing your tax return as married affect your return?
When you are married, you are required to file a joint tax return that shows the annual income of both persons. Even if one of...... Read More
What taxes does a resident alien who married an illegal alien pay?
Even if you are a resident alien or a resident citizen, you are treated equally in terms of taxes. All income you receive...... Read More