Follow up about incurring penalties if I wait to pay taxes until Apr 2009 – deadline for est. tax payment ?
This one’s probably not too hard to find on my own, but while I’m asking…..re: the 401k withdrawal made in Feb 2008, the relevant deadline for an estimated tax payment would be when? Just a guess, April 15, 2008 ? Hopefully not a date that has passed already. Thanks again for the info, you guys are very helpful as a resource in getting this sorted out.
How much are taxes on a gift of cash?
What would taxes be in the US on a substantial (maybe ,000) gift of cash made to someone? Would both the giver and recipient be charged taxes or penalties?
How do I claim the taxes on my new home?
I purchased a new home in 2007. I’m confused on how to claim my taxes. Do I claim what I actually paid in taxes on the house? Or, do I claim the total amount of taxes on the house divided by the number of days I lived in my home?
Question about tax penalties?
Tax laws are confusing =(
I was looking at my state’s (MD) tax codes and I saw this under "Penalties":
(a) In general.- Except as otherwise provided in this subtitle, if a person or governmental unit fails to pay a tax when due under this article, the tax collector shall assess a penalty not exceeding 10% of the unpaid tax.
(b) Exceptions.-
(1) If a person fails to pay alcoholic beverage tax, financial institution franchise tax, income tax, or tobacco tax when required under this article, the tax collector shall assess a penalty not exceeding 25% of the unpaid tax.
So I don’t get it, in what circumstance would someone be penalized by 10%?
I know for the state there is this:
"Failure to respond to the notice [income tax notice] may cause us to assess additional penalty and interest charges." Maybe that makes a difference?
Age of Reason: Well I get what causes penalties to be assessed, but I am asking what causes someone to be hit with 25% and not 10%?
How do I calculate shipping & taxes for my online store through Paypal?
I am shipping my items only domestically. I sell children’s tshirts and they are not heavy to ship so how do I calculate taxes and shipping??
I have a UPS account but I know USPS is cheaper and probably more attractive to customers. Plus I am in California, so do I add the 8.25% sales tax? Or do I do a sales tax for each individual state?
Should I ship internationally?
What kind of taxes would I pay as a Sole proprietorship business in NJ. I am considering a handyman business.
What kind of tax, what percent should i consider placing into a seperate account. How often would I pay taxes? Quarterly or Annually? Any information would be great. Thank You.
Can the state try to collect a tax penalty debt if I completed Chapter 13 bankruptcy?
I filed a chapter 13 in July 2002 and completed my 5 years of repayments in July 2007 and the case was discharged. I immediately got a bill from the state saying I still owe 0 in interest and penalties from tax year 2000. Do I really owe this? Are all of my other debts wiped away now?
When you do taxes how long does it takes for you too receive the money?
Well my friend is putting me on her taxes and I was wondering when she sends it off, how long does it take for you to receive the money. I am new to all this tax stuff.
How many taxes are on your cell phone bill?
I live in NY state. My cell phone bill contains state tax, federal tax, county tax and school tax. What taxes are on your cell phone bill?
Wiz-we have real estate tax in NY state too, Along with taxes on just about everything you can think of. State tax, county tax, city tax, and if you die in NY state, even with a will, the state will get a big hunk of your estate. And still the state is broke and wanting more taxes.
Need help on Tax Penalties?
I just filed my tax files today…4/15/2009, and i owe about 5. i dont have the money now and i was trying to set up a payment plan but the irs phone lines were having difficulties… if i pay later how much would i owe of penalties?