Sentences with phrase «owe tax money»

In all of our offices throughout Ontario we encounter debtors who owe tax money to the Canada Revenue Agency («CRA»), formerly called Revenue Canada.

They can just notify your employer that you're owing tax money and they can garnish your wages.

Not exact matches

Whether Uncle Sam owes you money, or vice versa, some companies are offering money - saving, free and entertaining Tax Day rewards.

Remember, your 401 (k) plan or traditional individual retirement account is tax - deferred money — meaning, for every dollar you take out, you will owe taxes (federal and state).

One way to avoid a huge tax bill is to have federal taxes withheld from your unemployment checks (however, you may still owe state income tax) or set aside the money yourself so you'll have the money to pay taxes.

The company holds $ 181.1 billion in offshore profits, more than any other U.S. company, and would owe an estimated $ 59.2 billion in taxes if it tried to bring the money back to the U.S., a recent study based on SEC filings showed.

On top of that, they owed capital gains taxes because the money was in actively managed funds that sold off investments showing gains.

Donald Trump told companies that owed him money to pay it instead to his tax - exempt foundation, according to The Washington Post.

«Generally, Americans with more complex tax situations file later in the tax season, especially if they expect that they'll owe money,» Credit Karma Tax General Manager Jagjit Chawla said in a statemetax situations file later in the tax season, especially if they expect that they'll owe money,» Credit Karma Tax General Manager Jagjit Chawla said in a statemetax season, especially if they expect that they'll owe money,» Credit Karma Tax General Manager Jagjit Chawla said in a statemeTax General Manager Jagjit Chawla said in a statement.

More from Your Money, Your Future: These red flags could trigger a tax audit Use these planning tactics now to juice your 2018 tax savings If you can't pay what you owe the IRS by Tax Day, here's what totax audit Use these planning tactics now to juice your 2018 tax savings If you can't pay what you owe the IRS by Tax Day, here's what totax savings If you can't pay what you owe the IRS by Tax Day, here's what toTax Day, here's what to do

If not enough is withheld, you'll owe money come tax time.

The negative chatter centered around a former employee's allegations that she was owed money after a tax withholding error for which Triple Play was allegedly at fault.

If you want to withdraw the money before retirement age, you'll have to pay the taxes owed and a 10 % penalty on every dollar you withdraw.

Funds may also not be used to reimburse a business owner for money he or she has previously invested in the business or be used to repay money owed the government, such as a tax debt.

They also may not be used to reimburse a business owner for money he or she has previously invested in the business or used to repay money owed to the government, such as a tax debt.

If you owe the government money, you need to file a return, and pay your income taxes.

In some cases, the government will owe you money for tax credits.

For some time, investors had the opportunity to skirt by without owing any money to Uncle Sam thanks to a little - known tax loophole called the like - kind exchange.

Money you can take out of your account without owing any federal income tax, even if some of it has never been taxed.

If you owe the Internal Revenue Service (IRS) money, it can add what's called a «tax lien» to your credit report.

So if you think you'll need the money within that time, you could end up owing the taxes you were hoping to minimize with a conversion.

In addition to federal tax, your state will make additional withholdings for taxes, and most states will deduct other money that you may owe to the state, such as back taxes, child support, loan payments, etc..

A tax deduction lowers your taxable income, which means you owe less money to the IRS.

You don't get a deduction when you put money into the account, but you won't owe any tax at all when you reach retirement age and begin distributions.

The reason I could save the $ 1,732 is because of the SEP - IRA I owe taxes on the Roth IRA conversion based on the proportion (approx. 95 %) of the before tax money all of my IRAs.

There are two main reasons people wait until the last minute to file taxes: either they owe the government money or...

You Make Money — Obviously, if you are renting out a property you own, you have the potential to make a decent passive income, depending on the amount you owe each month in mortgage, insurance, and taxes.

For example, if you inherited a 401 (k), you'll owe income taxes when you begin withdrawing money from the account.

If you take money out of your IRA before age 59 1/2, you could get stuck with a 10 percent early withdrawal penalty in addition to the income taxes you will owe.

Start taking distributions from them in retirement and you'll owe income taxes on the money you withdraw.

This means that if you «time» your trade wrong and the value of XRP goes down after you make the exchange, you still owe tax on your BTC gain even though you subsequently lost money.

A tax credit is an amount of money a taxpayer is able to subtract from taxes owed to the government.

If your clients withdraw money for something other than qualified higher education expenses, they will owe federal income tax and may face a 10 % federal tax penalty on earnings.

Some folks don't believe in defense spending and war as government - mandated programs either — and in protest have withheld tax money owed to the IRS — and I don't recall them winning their cases.

It seems that Alexis is having problems with the Spanish tax authorities who claim that they owe him more than 3 million Pounds, and are taking steps to reclaim their money ahead of a massive court case.

«If he (Regan) does redeem (the property), all the taxing bodies will get the money they're owed.»

«It is clear to us that HMRC owe many tax credit claimants a lot of money for backdating payments not made.

Avoidance means getting around taxes owed - the question is why does the US think that someone not living in or even earning any money in the US should still pay income taxes to the US.

A Capital Region company is considering moving out of the state after finding out it does not qualify for tax credits and instead owes the state money.

LITRG's guide is available from the Group's website via the link: http://www.litrg.org.uk/News/2011/2011-repayments The guide includes: An explanation of who will be getting letters from HMRC Guidance on how to check if HMRC's calculations are accurate Information on what to do if you think the calculation is wrong or incomplete, or you do not understand it Information about how to claim money owed from previous tax years Examples of the letters taxpayers could write in response to receipt of a tax calculation Additionally, a question and answer guide on the 2011 PAYE reconciliation process is available on the website of the Chartered Institute of Taxation: http://tinyurl.com/taxqa2011 LITRG Chairman John Andrews said: «Taxpayers receiving letters from HMRC need to check their calculations carefully — even if the letter says they are getting a refund.

Meanwhile, Vasmol (Vokacom) has also been accused of owing the government of Ghana close to three million Ghana cedis (Ghc3000000) in tax evasion money, money that it ought to have paid between 2012 and 2016.

Traditionally, the state funds have come in the form of a spin - up of money the state owes the city in payments in lieu of taxes for Empire State Plaza's exemption from local levies.

Tedisco and other lawmakers asked whether taxpayers owed the rebates could receive interest on the late payments, and whether those owed money could pay their taxes late.

Until he pays the five years in back school, county, and City taxes his household owes — more than $ 46,000 and counting — George Latimer should keep quiet about anything to do with money,» Bill O'Reilly, spokesman, Friends of Rob Astorino shared with BW.

Cuomo also makes changes to the STAR property tax rebate program, so that some of the money owed to taxpayers will appear as income tax credits, wiping $ 277 million off the books as state spending.

At these sites we help low - income taxpayers file their taxes, claim benefits offered through the tax code, and explain why they owe money when they do.

They make good on a promise to visit the orphanage they grew up in, only to find it is in danger of being shut down due needing $ 5,000 in tax money owed.

Speaking «truth to power,» his tax - the - rich talk at a Wall St. rally fit right in with the angry mob that thinks wealth is evil and that if A has more money than B, A owes B some of it.

«Arizona is able to increase its funding for priorities like public education without raising taxes by increasing revenue through improved oversight and collection of money owed to the state.»

Doug Hoyes: And as we talked about in the first couple of segments with Scott and Ian, it's a good idea to get a bookkeeper, somebody who knows how to do it if filing taxes aren't your thing, so, if your returns are up to date, obviously you owe money, CRA will accept a proposal in a lot of cases if it's reasonable.