General Tax Information

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What Do You Do if You Put the Wrong Routing Number & Account Number on Your Tax Refund?

r years, the IRS has offered taxpayers the option of receiving their refund by electronic funds transfer, a faster method of getting paid. By including your bank’s routing number as well as your account number in the appropriate field in Form 1040, you allow the revenue ...

What Items Are Deducted From Gross Income on a W-2?

ur W-2 is the end-of-year earnings statement your employer gives to you for tax purposes. It details your gross income and all the tax withheld for the year. These taxes include income tax and Social Security and Medicare taxes. Your W-2 typically also includes other voluntary ...

I Owe a City Government Money: Could They Withhold My Income Taxes?

ur local government collects money for many purposes. Whether it’s parking tickets, licensing fees or property taxes, you must pay the bill or face debt collection. While it makes sense that a city government could ask the Internal Revenue Service to offset your taxes, ...

How to Look Up a Federal Tax Lien

you do not pay your taxes, the IRS has the right to file a tax lien against your property. There are several ways to find out if you have an outstanding federal tax lien. Even though federal tax liens are initiated by the IRS, they are recorded at the county level. Liens on ...

What Is the Tax on Lotto Winnings in California?

nning the California lotto can quickly change your financial situation. While a small prize might not make a big difference, winning hundreds of thousands or millions of dollars puts a potentially life-changing amount of money in your pocket. You're not the only winner, either. ...

Do I Have to Pay Georgia Ad Valorem Tax on a Car From Another State?

orgia residents who purchase vehicles outside the state are not likely to find much of a break on taxes. Cars purchased outside the state may avoid a specific sales tax when initially acquired. However, once brought into Georgia, the vehicle must be titled under state law ...

Do We Have to Pay a Gift Tax for the Automobile We Won?

en you receive a gift, you never have to pay the gift tax. It's paid by the donor. Unfortunately, if you won an automobile from a company or organization, it isn't a gift that is covered by the gift tax. Instead, it's treated as a form of noncash compensation, and you'll have to ...

Will They Garnish My Tax Return if I Owe Social Security?

ying into the Social Security system during your working years entitles you to a check each month from the Social Security Administration once you hit retirement age -- a minimum of age 62 for a reduced benefit. The SSA calculates your benefit based on your primary insurance ...

Taxes on an Early Pension Buyout

fined-benefit pension plans are designed to pay out a set amount of money once you retire. These plans can be expensive for employers to maintain, and in some cases, companies may opt to offer employees early retirement to cut costs. If you accept an early pension buyout, your ...

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