General Tax Information

More in General Tax Information

Can I File as Married Filing Jointly if a Spouse Owes Child Support?

You might be used to a nice income-tax refund check every year. But if you marry and your new hubby owes back child support, you may be in for a surprise. Filing a joint tax return with a spouse who owes child support can cause you to lose your refund. Fortunately there are ...

Does Taxable Income Include Pretax Health Insurance?

Health insurance isn't cheap, even if you're paying for coverage under an employer plan. However, using pretax dollars to pay for the plan helps you when it comes time to pay your taxes, because the money taken out of your paycheck to cover your premiums isn't counted as taxable ...

Is Interest on a Promissory Note Reported to the IRS?

If you have lent money that the borrower has agreed through a promissory note to repay, and you are charging interest on that loan, you will earn interest income that, by law, you must report to the Internal Revenue Service. There are exceptions and conditions attached to this ...

What the Numbers Mean in a Federal Tax ID EIN

The Employer Identification Number -- EIN -- is a tax identification number the IRS issues to private and public businesses, whether they operate for profit or not. EINs start with a two-digit prefix followed by a hyphen and seven more digits. In its literature, the IRS ...

What Does SDI Stand for on W2 Tax Forms?

SDI stands for state disability insurance, which pays a portion of your salary if you experience a non-work-related illness, injury, pregnancy or childbirth. Only a few states require that employers carry the insurance, and either you, your employer or both parties may pay the ...

Can Someone Who Hasn't Worked Get a Tax Refund?

Typically, you get a tax refund because your income tax withholding from your paycheck exceeds your taxes due. But, even if you haven't worked, it's possible that you can get a tax refund, depending on your circumstances. For example, you might have paid estimated taxes on your ...

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 ...

Definition of HSH Income

The Internal Revenue Service defines HSH income as income earned by some household employees. According to IRS rules, the HSH designation applies if the employee didn't earn enough to require you to issue a W-2; that amount was less than $1,800 in 2013. The agency also has ...

Do I Have to Pay Taxes on My Savings Account?

The Internal Revenue Service considers all of your income from all sources to be taxable income unless it is specifically exempted from taxation by law. That includes income from working, such as wages, salaries, commissions and tips; income from investments, such as capital ...

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.