Sentences with phrase «of the additional taxes owed»

Not exact matches

If you do side jobs on top of getting a regular paycheck with taxes withheld, you also might be able to adjust your withholding to reflect the additional tax you'll owe from self - employment.

Unfortunately, over the years, more and more middle income taxpayers have been subject to the AMT and have consequently owed additional taxes, because the AMT exemption — the amount of income which isn't subject to additional taxes — isn't indexed to inflation.

The Additional Child Tax Credit is designed for lower income individuals who were unable to take advantage of the full Child Tax Credit because they did not owe enough tTax Credit is designed for lower income individuals who were unable to take advantage of the full Child Tax Credit because they did not owe enough tTax Credit because they did not owe enough taxtax.

This means you will have underpaid your Medicare tax by $ 450 (0.9 % of $ 50,000) and will owe the additional amount when you file your taxes.

In addition, since the Lakers were over the tax in four of the past five years, they would have owed an additional $ 5 million at each juncture.

To add some additional intrigue, Rosenthal reported that the Giants were concerned about the luxury tax implications of acquiring Stanton — he's owed $ 295 million on a deal where the average annual value is $ 25 million — so there would be a high - priced player heading to Miami or in a second deal.

(Federal ID # 27-5011514) * Amounts shown for TAXES apply to payment on behalf of winner for IRS withholding requirement, additional taxes may be TAXES apply to payment on behalf of winner for IRS withholding requirement, additional taxes may be taxes may be owed.

Tackling your 2017 tax return may be a dreaded chore (because of complexity or the prospect of owing additional tax) or a welcome event (because you are due a refund).

If you meet all other requirements but the amount of tax you owe at the end of the year is either zero or an amount that is less than the credit, you can not claim the full child tax credit of $ 1,000; however, you may be eligible for the reduced additional child tax credit if you complete IRS Form 8812.

If you do not benefit from the full amount of the Child Tax Credit (because the credit is greater than the amount of income taxes you owe for the year), you may be eligible for the refundable Additional Child Tax Credit.

This is additional tax you'd owe when you filed your 2013 return because of the short sale's forgiven debt.

If your tax return is not filed before the deadline and you owe the IRS money, the IRS will charge you an additional 5 % interest rate of the unpaid balance each month.

Furthermore, an investor already subject to the AMT should take into account the additional AMT that would be owed as a result of the purchase of otherwise «tax - exempt» bonds.

If you regularly owe taxes when you file your return, or if you have other income sources or deductions that may affect your tax rate, adding an additional withheld amount on line 6 of your W - 4 may put you in a refund position or keep you from owing too much.

On a $ 26,300 commission cheque, a realtor would also get an additional $ 2,570 of HST money that's paid directly to the government and will owe another $ 7,890 in taxes (assuming a 30 % tax bracket).

If your credits, withholdings and estimated tax payments are less than the amount of tax owed in # 6 above, you'll owe additional taxes when you file your return.

If she does claim you and you also claim yourself, the two of you will hear from the IRS, and when you explain the situation to them, your mother will owe additional tax.

Although you owe a substantial amount of tax on this additional income, you fall within an exception to the requirement to make estimated tax payments.

For instance, suppose as a self - employed individual I paid $ 1200 for health insurance premiums over the course of the year, but then at the end of the year it turns out my subsidy was in excess, and I now owe an additional $ 300 in premium tax credit repayment.

In addition to normal income tax, you will owe a penalty of additional tax on the amount of the early withdrawal (unless you meet an exception).

Don't be late Those owing tax must pay remaining balances by midnight on Friday, April 30th to avoid a 5 per cent penalty on unpaid balances and an additional 1 per cent each month thereafter to a maximum of 12 %.

By answering some simple questions, we can help see what kind of refund you may receive, or if you may owe additional taxes.

At the end of the year, those eligible for premium assistance tax credits will be required to reconcile the actual credit that should have been earned based on actual income that year, with the amounts that were subsidized to the exchange, and receive either a refund (if more credits are due) or owe an additional tax obligation (if the subsidies were «overpaid» relative to the actual credit earned).

«Depending on your marginal tax rate, this pension tax credit will reduce or eliminate the incremental tax otherwise owing on the additional $ 2,000 of qualifying income annually, to the extent that you are not otherwise taking advantage of this credit with other income,» says BMO in a document titled RRIFs — Tips and Considerations.

If your taxes owed are reduced to $ 0 and you still have some Child Tax Credit left over, you may be able to receive some or all of it as a tax refund by claiming the Additional Child Tax CredTax Credit left over, you may be able to receive some or all of it as a tax refund by claiming the Additional Child Tax Credtax refund by claiming the Additional Child Tax CredTax Credit.

Of those respondents who expect to owe additional taxes on their 2012 income (12.4 %), only 21 people plan to pay with plastic

* $ 30,000 for TAXES applies to payment on behalf of winner for IRS withholding requirement, additional taxes may be TAXES applies to payment on behalf of winner for IRS withholding requirement, additional taxes may be taxes may be owed.

However, if you neither filed nor requested an extension by April 17th, 2017, and you owe additional tax, you should file your return ASAP, even if you can't pay all of your taxes owed.

They will want to know if they owe any additional taxes at the end of the year, the tax consequences of taking the lump sum versus the annuity, and how to take advantage of favorable tax laws previously unavailable to them.

On the other hand, if your income ends up lower than you projected for the year (but still in the subsidy - eligible range, rather than the Medicaid - eligible range or the Medicaid coverage gap range in a state that didn't expand Medicaid), the additional premium subsidy will be added to your tax refund, or used to offset the amount of taxes you owe if you're not due a refund.

So, some eight months after the Tax Court case had been won, the company, with a considerable additional expenditure of time, was left owing $ 13,000 with the possibility of reducing this by another $ 1,000 if they decided to file a new Notice of Objection.

A Mortgage Tax Credit offers additional income for first - time homebuyers by cutting down on the amount of federal income tax liability that the borrower owTax Credit offers additional income for first - time homebuyers by cutting down on the amount of federal income tax liability that the borrower owtax liability that the borrower owes.