General Tax Information

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Taxes on an Early Pension Buyout

Defined-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 ...

Can My Husband Legally File Taxes as Married Without Me Knowing?

If you're married, you have two choices of filing status when filing your taxes: married filing jointly or married filing separately. Your husband cannot legally file a joint return unless he has legal control of your affairs -- such as through a power of attorney -- because you ...

What To Do If You Forgot to File Taxes?

If you forgot to file your tax return, the Internal Revenue Service might file a substitute return for you, perhaps causing you to miss out on qualified tax deductions. It might also assess tax penalties and, in extreme cases, pursue a criminal conviction. If failed to file your ...

Are There New York State Income Taxes on State Retirement Benefits?

When you prepare your New York state taxes and you're either retired or age 59 1/2 or older, you can subtract some income from your federal adjusted gross income before you calculate your New York state taxable income. Pension income you receive from the federal, state or local ...

What If I Forgot to Include My Check With My Taxes?

Forgetting to send anything to the Internal Revenue Service -- especially money -- can cause just about anyone to panic. However, the IRS does allow you to send your check separate from your tax return. You’ll include a payment voucher with your check so the IRS can ...

Is California Pension Income Taxable Outside California?

Failing to file a tax return or pay taxes when they're due can trigger stiff penalties. Unfortunately, variations in tax laws between the states can make it difficult to figure out where you have to file, especially if you receive income from a state you no longer live in. While ...

Do Married Couples Have to File Joint on State Taxes if They Filed Joint on Federal Taxes?

States typically use information from a federal income tax return to determine tax owed on a state return. In most cases, states require taxpayers to submit a copy of their federal income tax return along with their state return. Unless you have a nontraditional marriage, you ...

What Minimum Amount of Interest Does a Savings Account Have to Have to Issue a 1099-INT?

It may only amount to pocket change, but any interest you earn in your savings or checking account has to be reported as income on your tax return. In most cases your bank will send you a Form 1099-INT listing the total amount of interest payments you should report. The bank ...

If My Job Did Not Take Out Federal Income Taxes, Does That Mean I Pay?

The first time you look at your pay stub and realize that your employer isn’t withholding federal and state income taxes from your paycheck, it might seem like a tiny windfall. While it may mean more pocket cash in the short term, the mistake in withholding may come around ...

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