Tax Filing

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Circumstances Under Which IRS Will Hold Tax Refund

e Internal Revenue Service authorizes refunds for over payment of taxes based on the information provided on the taxpayer's tax return. However, sometimes that refund is subject to seizure by other government organizations or by the IRS itself for various reasons. The seizures ...

How to Change My Tax Refund Payment Method

en you file your tax return you have the choice of receiving your refund by check or by direct deposit. Additionally you can use part of your refund to purchase a U.S. Series Savings Bond. You are allowed to change the way you receive your refund from the method your tax ...

What Is the Deadline for a Mortgage Interest Statement?

rtgage interest can be one of your biggest deductions at tax time. In most cases, your lender will provide your total mortgage interest payments and other information at the end of each year on a Form 1098, Mortgage Interest Statement. The lender must have the statement in the ...

Is a 401(k) Loan Reportable on Your IRS Income Taxes?

me 401(k) plans permit participants to borrow directly from their funds. If plan participants may take out loans, the written plan description states that borrowing is allowed. Although withdrawals from a 401(k) by participants younger than 59 1/2 usually result in a penalty, ...

Can I Claim Head of Household if I Am Unemployed?

e Internal Revenue Service has established different filing statuses for taxpayers. They determine their standard and other deductions, as well as credits and exclusions they may claim in their tax returns. Head of household is one such filing status, as are also single, married ...

Can Married People Filing Jointly With ITINs Claim Dependents?

xpayers who aren't eligible to receive a Social Security number must file income taxes using an individual taxpayer identification number, or ITIN. Claiming a dependent isn't limited to married couples -- single taxpayers with an ITIN can also claim a dependent. If you support a ...

Does Giving a Car as a Gift Affect Taxes?

ving away any type of property triggers the possibility of gift tax just as gifting money would. Fortunately, some exceptions exist to dodge the tax. The gift tax for giving a car is determined by the value of the vehicle. It's also important to note whether the gift giver and ...

How Much State & Federal Tax Is Withheld on Casino Winnings?

you are lucky enough to win when you go to the casino, you will not necessarily have to report the winnings on your tax returns. For practical purposes it does not make sense to report winnings every time you win 50 cents in a slot machine. Instead, the federal government has ...

What Are Some Reasons My Tax Return Can Be Denied?

ery spring you are inundated with 1099s and W-2s in preparation for filing your yearly taxes. Once you navigate the complicated waters of your tax return, you submit it to the IRS with a sigh of relief that you are done. Unfortunately, until the IRS accepts your return you are ...

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