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Why does my child have to file a tax return?
If your child has a job that withholds federal income taxes, they may be able to get at least some of that money back by filing a tax return. Your child m...
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How are Mega Millions winnings taxed?
The federal government and all but a few state governments will immediately have their hands out for a bit of your prize. The top federal tax rate is 37% ...
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What happens if you pay your taxes late and get an installment agreement?
You’ll still owe penalties and interest for paying your taxes late, but it can help make the payments more affordable. The minimum monthly payment for you...
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Has FFCRA been extended into 2021?
FFCRA Paid Leave Extension Until September 30, 2021 with Tax Credits. This is now allowed under the American Rescue Plan Act (“ARPA”), which was enacted o...
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Is NI taken off before or after tax?
National Insurance rates 2021-22. The amount of National Insurance you pay is worked out in a similar way to income tax. National Insurance is calculated ...
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Does an employer provide a 1099?
If a company hires you as an independent contractor and pays you more than $600, it must send you a Form 1099-MISC. If the company fails to give you a 109...
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How do I contact the IRS in Alabama?
If you are in the Birmingham area, call the Taxpayer Advocate Service at 205-912-5631. If you are outside of the Birmingham area, call 877-777-4778. How l...
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Can my wife receive Social Security benefits?
How Do Social Security Spousal Benefits Work? You’re eligible for spousal benefits if you’re married, divorced, or widowed and your spouse is or was eligi...
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How much of my Social Security benefit is taxable?
between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits. more than $34,000, up to 85 percent of your benefits may...
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What happens if one spouse does not sign a tax return?
When a joint income tax return fails to include both signatures, IRC section 6651 may impose an addition to the tax for a failure to timely file a return ...
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