Tax returns filed with the state by mail generally take about eight weeks to receive refunds, while returns sent in electronically take about three weeks. The refund disbursement time frame is different in each state, and other circumstances, such as volume of returns being processed, may hold up refunds.Know More
Depending on the state where an income tax return was filed, taxpayers can generally check the status of their refunds by phone or online. State taxing authorities are usually able to let a taxpayer know the status of her refund and can give general updates as to whether or not refunds are on schedule for that particular year. Most state taxing authorities need to know certain confidential data regarding a state tax refund, such as the taxpayer's Social Security number, the filing status and the exact amount of the anticipated tax refund. If the taxpayer cannot prove her identity, status updates regarding refunds may not be disclosed.
Taxpayers whose returns are sent through the mail may have to wait longer to learn about the status of their state tax refunds. If a taxpayer feels she has waited a reasonable amount of time for her refund to be processed with no refund forthcoming, the IRS advises that she should call her state taxing authority.Learn more about Income Tax
According to the IRS, failure to file taxes can result in severe payment penalties. These penalties can grow on a monthly basis, maxing out at as much as 100 percent of the actual tax monies owed.Full Answer >
William Perez of About Money lists an easy-to-use method of determining the number of withholding allowances a person should claim for taxes. The formula uses a ratio of the amount of deductions available to the personal exemption amount as a means of calculating the best number of allowances to take.Full Answer >
Many factors affect the tax burden of a second job, but an additional $10,000 income annually increases federal income taxes between $1,000 and $3,960, depending on the individual's previous income and tax bracket, according to the 2014 tax rate tables at Bankrate. Other circumstances also affect the taxes that an individual pays.Full Answer >
Regardless of if a person claims 1 or 0 on their W-4 tax form, they will still pay the same amount in taxes at the end of the year, but if the person claims 0 then he or she will have more money taken out of each paycheck and possibly have a larger tax refund, and if they claim 1 then they will have less money taken out of each paycheck but a lower or possibly no tax refund. It is most often up to personal preference whether a person wants more taken out of each paycheck and a return at the end of the year, or more to live on each month but a smaller or potentially zero refund at the end of the year.Full Answer >