Advanced Royalty Check

by Debbie
(Ohio)

Received a check for $20,000.00 for a gas lease. Do I need to pay estimated tax on this? I am employed and have taxes withheld from my checks but with this additional income it will probably not be enough taxes withheld.

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Am I Paying?

by Alex
(Swansea)

Have been employed for 7 years. Never had a p60. No proper pay slips and no written contract. However I believed I was paying in another way as money is taken out of my wages every week. One for tax one for N.I. talking to friends and family, it has come to light that i am possibly paying too much tax...or worst of all no tax. My money is going somewhere.

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Credit Card Protection

by Bill
(Trevose, PA)

I would like to know if we can we claim the fees we pay for credit card protection as a tax deduction?

Thank you for your question about credit card protection fees. It is my understanding that you can claim the credit card protection fees that you pay on a business use credit card as an income tax deduction on your income tax return. It can be categorized along with the interest payments or distinguished separately as a type of insurance expense.

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Direct Deposit

Is it legal to direct deposit a siblings income tax refund into your bank account?

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Do I have to pay taxes on money that is reimbursed to me on my paycheck

by John
( Washington State)

Hello, I drive a company vehicle to and from work and my employer covers all fuel costs. He provides this money to me in the form of a non-taxed reimbursement on my paycheck. However I just realized that this money, while taxes are not being taken out of it, is going into my net pay. Am I going to have to pay taxes on this? Its not income for me, but there will be a large amount of money in my net pay at the end of the year that won't match up with the amount of taxes taken out. I give my boss all my gas receipts.

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Getting Monthly Wire Transfer From Mexico

by Eve
(Florida, USA)

Hello, I am a freelancer that works for a company that is based in mexico. They pay me monthly via wire transfer. I wanted to know if I have to report this to the IRS if its coming from another country and they arent giving me a 1099.

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I Want To Pay Again

I have already paid my first quarter 2011 estimated tax. I realize that it should have been more than what I paid. Can I send in the extra amount before April 18 without fouling things up?

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Making Estimated Quarterly Payments

by Nick
(Placentia, CA, USA)

I am not self employed. However, I have been making estimated quarterly tax payments on provided tax vouchers from the IRS. I hae just realized that I missed making my June 15, 2011 payment. Can I still make that payment with its respective tax voucher at this time?

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Money Amount

What is the less amount that I will receive on my tax return if I made 9,000 and I have a child? I live with someone so I will not be head of household.

Thank you for your Money Amount question.
The total amount of money you will receive on your 2011 tax return is dependent upon how much money you had withheld.

Without knowing that information, the least amount you will receive if you made 9,000 are filing as Single and have one child that you paid over half of the support for the year for, appears to be $3,969.00 calculated as follows:

Taxable Income 9,000
Less Single Filing Status (5,800)
Less 2 exemptions (7,400)
Equals No Taxable Income (4,200)

Earned Income Credit 3,069
Add'l Child Tax Credit 900
Total Refund $3,969

Regards!


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Monthly Pay

by Anne Hall
(Sheffield)

My question pertains to being paid monthly rather than semi monthly or biweekly. Do I get taxed more if I am paid monthly? It seems like I might have to pay more in taxes somehow on monthly pay. Is this true?

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NRI RETURNED BACK TO INDIA

by P V R REDDY
(BANGALORE)

I WAS HOLDING NRI STATUS TILL SEPTEMBER 2010.
NOW I HAVE RETURNED TO INDIA AND NOT WORKING ANY WHERE. MY WIFE IS NOT EMPLOYED AND DAUGHTER IS STUDYING.

I AM STAYING IN MY OWN HOUSE AND GETTING RENT FROM ANOTHER HOUSE. I HAVE FEW INVESTMENT IN MIS, FIXED DEPOSITES AND SITE.

WHAT WILL BE MY STATUS. I AM 56 YESRS OLD.

HOW TO COMPUTE MY TAX RETURNS AND FOR WHICH PERIOD.

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Paying

If me and my wife made a combine income of 92000 and we did not pay taxes through out the year how much will we owe?

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Re-Issue New Check

by Olimpia
(Round lake, IL )

I forgot to cash my income tax refund from 2008 and now it is 2011, can they re-issue me a new check?

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Total Payments

by John Reagan
(Dallas, TX USA)

How can I find out how much I've already paid toward my 2010 taxes?

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Waiting For Check In The Mail

by Nese
(Marietta GA)

Hello im waiting for a paper check in the mail but i efiled around january 14 the irs site said my dd is feb 8 and im wondering will i recieve it on that date

Hello Nese,

The IRS is pretty right on about when you can expect your tax refunds via direct deposit. If you are waiting for a paper check it will usually take longer and more dependent upon the post office. If you ever have a question about the status of your refund or when you can expect to receive it, you can go to the IRS website and click on "Where is My Refund".

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