Yes, but that is entirely up to your accountant or tax preparer.
A. A tax refund
A tax refund is what you have already paid to the government minus what you actually owed. If you did not pay taxes, there is no money there.
NO
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Yes, but that is entirely up to your accountant or tax preparer.
A. A tax refund
A tax refund is what you have already paid to the government minus what you actually owed. If you did not pay taxes, there is no money there.
Turbo tax provides a federal tax refund by determing how much money you pay from your bills and mortgage and turning it into extra money that you can use in the near future.
NO
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A tax refund or tax rebate is a refund on taxes. When your tax liability (the amount of tax you owe) is less than the amount of taxes paid or taken out of your paycheck, the IRS will give you a tax refund once your return is filed.
No.Presuming it was paid with after tax money (money you already paid tax on)...the return of that money is not taxed.
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
Rapid tax refunds are received, as their name implies, almost instantly if you file with a tax preparer that provides a rapid tax refund service. Rapid tax refunds do not come without some penalties, however. The trade-off to instantly receiving your money is that, more often than not, a fee ranging from $20-$120 is tacked on. The fee is in place due to the fact that the preparer is in actuality loaning you the money until they receive the actual refund check from the IRS. As alluring as instantly getting your refund may seem, it may be smarter to file online, select the direct deposit option, and wait the 2-3 weeks without having to deduct from your return.
Ahhhhh . . . you do not get a tax refund if you owe. You pay them.
I want to gift money to my daughter vfor a downpayment on a home, but she wants to pay it back when she gets her income tax refund can she do this?