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What Is the Difference Between Federal Withholding Tax ...

What Is the Difference Between Federal Withholding Tax & FICA?

by Grace Ferguson

; Updated January 06, 2018

You may notice the different federal taxes that come out of your paycheck but have no idea how they're calculated. The U.S. Congress establishes federal employment taxes, including income taxes, Social Security tax and Medicare tax. The latter two are called FICA taxes; they go hand in...

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Free Tax Prep for Seniors | Pocket Sense

Senior citizens in the United States are special, with retirement benefits and advantages that come with aging. But, few can avoid filing a federal income tax return, even with a subsistence income level. This task, like birthdays, comes around faster every year for seniors. Preparing and filing a federal income tax return may be a daunting project, but there is free help...

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How to File Late Tax Returns in Canada | Pocket Sense

How to File Late Tax Returns in Canada

by Jodee Redmond

; Updated March 15, 2018

No one looks forward to income tax time. If you miss the filing deadline for your Canadian income tax return, you don't need to fret. Even though there are consequences for late filing, ignoring the matter completely is definitely the wrong way to handle this situation.

Income Tax Filing Deadlines in Canada

The...

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How Long Does it Take to Get Tax Refunds From Electronic ...

Electronic filing of your tax return is the fastest way to obtain a refund, both from the Internal Revenue Service and your state revenue department. The IRS states that nine out of 10 taxpayers will receive their refund in 21 days or less of their return being accepted.

E-file Providers

Under IRS regulations, any tax professional that prepares more than 10 personal income tax returns per year...

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How Do I Get a PIN to Sign Electronically if This Is My ...

How Do I Get a PIN to Sign Electronically if This Is My First Time Filing Income Taxes?

by Chris Brantley

If you file your taxes electronically, you have to select a five-digit PIN to authorize your tax return's submission. You can no longer use the paper form 8543 for this purpose. To select your PIN, you must know one of the following items from your previous year's tax return: the adjusted...

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How to Get a Copy of Your Income Tax Return | Pocket Sense

If you need a copy of an income tax return that you've filed in the past, you can order copies from the Internal Revenue Service for a fee. If you're requesting a copy of a tax return that you've filed in the last seven years, the request process is simple. A convenient request form can be downloaded from the IRS website. Fill out the form and mail it to the appropriate IRS office with your...

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Income Threshold Required to File Federal Tax Return ...

The Internal Revenue Service sets several income thresholds for filing federal tax returns based on age, filing status and other factors. If you meet a threshold that applies to you, you must file a return. There's no minimum to submit a return. In fact, the IRS accepts returns if you have no income at all. This actually makes sense because you may qualify for certain tax credits or need to...

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How to Figure Capital Gains on the Sale of Rental Property ...

When you sell a rental property, your profits are subject to capital gains tax since you don't get the same exclusions that you do on your personal residence. However, given that the Internal Revenue Service lets you use what you pay for closing costs and for property improvements to both reduce your selling price and increase your purchase cost, your profit might not be as large as you think. On...

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On What Line Do Donations Go on a Form 1040 Tax Return ...

On What Line Do Donations Go on a Form 1040 Tax Return?

by Beverly Bird

; Updated March 15, 2018

You get the added little boost of taking a tax deduction for your generosity when you donate to a charity, but the rules are just complicated enough to make some people think twice. Charitable donations go on line 40 of your Form 1040 tax return along with all your other itemized deductions. That's...

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How Does an Amended Tax Return Affect a Mortgage?

Once you and your bank have signed your mortgage, an amended tax return can affect the terms and conditions of that mortgage only if a clause within the contract stipulates that it can. If you file an amended return before you've completed your mortgage application, your bank has the right to change the conditions of your contract, or to deny you the mortgage.

Conditions of Mortgage Loan...

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Related topics : file amended tax return / income tax return loan / file income tax return / irs amended tax return / amend return tax