General Tax Information

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Do You Have to Pay Income Tax to a Nonresidential State?

Americans who live in one state and earn money in another must generally pay non-resident income tax to the state where they earn their money, but there are several variations on this theme. For example, some states don’t tax income. In other cases, some neighboring states have ...

Who Is Exempt From Social Security Tax?

Americans began to pay Social Security taxes in January of 1937, and the first retirement benefits were distributed at the same time. Today, employees and self-employed individuals in the United States are required to contribute to the Social Security retirement and disability ...

How to Find Out When You Will Receive Your State Tax Refund

The process of filing income tax returns is done each year for the federal tax system as well as for most states and some municipalities. Taxpayers who are slated to receive a tax refund often are unsure when to expect the refund to arrive. Whether you are awaiting a check in ...

How to Look Up a Federal Tax Lien

A federal tax lien can disrupt your ability to sell your home or get credit. However, there are things you can do to avoid a lien. If you aren't sure whether a lien has been placed on your property or assets, you can either contact the IRS or your local secretary of state to ...

Is Interest on a Promissory Note Reported to the IRS?

The IRS requires you to report interest income on your return. Taxable interest income includes interest earned on apromissory note. If you loan money and charge interest to the borrower, any interest earned must be reported on a 1099-INT and on the lender's Schedule B if it ...

How to Fill Out a W-9 Form for an Irrevocable Trust

If you are appointed the trustee of a revocable trust, you are responsible for administering the trust when the grantor dies. First you must review the trust provisions to determine the identity of the trust beneficiaries and the assets left to them. Depending on the size of the ...

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 process your ...

If You Gave Money to Someone Can It Be Deducted Off Taxes?

You may choose to give a gift for many reasons. Perhaps a friend or family member has fallen on hard times. Or, your son may be starting out on his own, and you may want to help him get established with his own home. If you have the resources, why not help out these people? Of ...

Income Tax on Life Insurance Benefits and Annuities

An annuity or life insurance policy can ensure your family is taken care of in the unfortunate event of your passing. Both have tax advantages, but these advantages can vary greatly depending upon the type of policy or annuity you buy. Consult with an estate planner to get the ...

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