First things first: Know the difference between a tax credit, which reduces the dollar amount of taxes you owe, and a tax deduction, which reduces your taxable income. For example, if you owe $1,000 in taxes but receive a $250 credit, you owe $750. If you claim a $250 deduction, ...
these occupancy taxes apply only if you've never personally lived in the rooms you rent or if you provide guest services like changing bedding or maid service. Sometimes the rental company collects and pays the local tax for you.
Many employees who have federal taxes withheld receive a tax refund when they file a return. In some cases, you may owe federal taxes even if you had taxes withheld throughout the year. Here's what you need to know about tax withholding and how it can impact your tax refund at the ...
SEATTLE - People are facing an unexpected and unwanted surprise this tax season when they find out they owe the government hundreds, or even thousands, of dollars in taxes on unemployment benefits. This past year, many people felt the impacts of COVID-19. Job loss was high...
If you're going to owe money when you file your taxes in April, that means you are underpaying because your employer is withholding too little. To fix this, you can withhold additional tax to make up the difference. The W-4 form has a line where you can enter how much additional tax...
in Features If you are worried about how to pay the IRS because you owe taxes, you're not alone. The cost of living in the current economy can make paying the IRS feel like an impossible task. However, the federal tax payment deadline is less than two weeks away for most people. (...
Apple failed in its last bid to avoid repaying its Irish taxes Tuesday after the Court of Justice upheld a lower court ruling against the company in the dispute that dates back to 2016. Vestager, who said she had been braced for defeat, hailed it as a ...
Domestic Taxes Hill staffers owe more than $9M in taxes by Vicki Needham - 09/09/10 6:15 PM ET Staffers on Capitol Hill owed $9.3 million in overdue taxes at the end of 2009, a small portion of the $1 billion total owed by all federal workers. IRS documents show that 638 ...
Willimantic may owe Levant $29,000 in taxesDIANA BOWLEYOF THE NEWS STAFF
Deficit cutters struggling to make ends meet in Washington are eyeballing an unusual pot of potential revenue: back taxes owed to the government by federal employees themselves.