What is tax liability?
Let’s learn what is tax liability. The most accurate or helpful solution is served by Yahoo! Answers.
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Please be specific, if im not mistaken it has something to do with assets? Im wondering becouse i know alot of people are getting lesser refunds, due to have no tax liability, yet people i have spoken with got the full refund and dont own or have any tax liability. whats up with this?
Answer:
No, it doesn't have anything to do with assets. It's the amount of income tax you paid, with the child...
Jess at Yahoo! Answers Mark as irrelevant Undo
Other solutions
since the child tax credit is a nonrefundable tax credit, you may not be able to use all of the $1000 child tax credit per child if: your tax liability is less than the total child tax credit amount allowed, or your modified adjusted gross income is...
Answer:
You have zero federal tax liability if you aren't married, and might be eligible for $551 of EIC if...
jamie729... at Yahoo! Answers Mark as irrelevant Undo
I am doing my 2008 taxes thru Turbo tax online and Im at the box that's asking me "what is your 2007 tax liability" can someone tell me please what that is? and where on my income tax papers from last year it would be located? I used tax form...
Answer:
Your tax liability is the amount you owed -- the amount of taxes you had to pay. That would be the line...
Katy R at Yahoo! Answers Mark as irrelevant Undo
This question is for the small group of us lucky enough to have earned millions from a startup exit this year. It seems the "safest" investment is to pay the full tax liability up front. Otherwise you are gambling with money that you'll eventually...
Answer:
To add, if you do not need to file estimated taxes for the reason described above, and you live in a...
Russ Feit at Quora Mark as irrelevant Undo
what are the tax liability or penalty to A under Indian Income Tax Act , when A paid loan to B by cheque and B returned the amount to A by cash
Answer:
i think you mean the cash transaction from B to A the loan return by cash. if the amount per transaction...
SHAJI R.K at Yahoo! Answers Mark as irrelevant Undo
Hi! I work as consultant where my annual package is 3,36000. My monthly income is 28,000 without any breakup and PF deduction. After TDS, I get 25,180 every month. I have invested 6,000 in PPF and 30,000 in Sundaram BNP tax saver scheme. what will be...
Answer:
salary received 3,36,000 less:- ppf 6,000 less:- Scheme 30,000 taxable salary 3,00,000 tax 12,360 (If...
Abhilash... at Yahoo! Answers Mark as irrelevant Undo
what are the items which can be considered as deferred items?
Answer:
A deferred tax liability is a tax that may never be paid, or is paid at a later date. In the UK an import...
ravikuma... at Yahoo! Answers Mark as irrelevant Undo
when I search for the meaning of tax liability, I get confuse because what I understand is that it has the same meaning with tax payable. Please help!
Answer:
Tax liability is what you owe in taxes. Taxes payable would be how much you have to pay. In general...
S6VTVAAU6SNGRA3RRFTLKEGPV4 at Yahoo! Answers Mark as irrelevant Undo
I am getting a refund but need a couple of extra days to file so I'm filing an extension request. The form asks for "Estimate of total tax liability for 2006" but I'm not sure what that is! Is that what I paid in or what I would owe if I did...
Answer:
tax liability is what you owe the government, so if you don't owe anything your liability is 0.
Courtney at Yahoo! Answers Mark as irrelevant Undo
US citizen earns interest in India. Tax is deduced at source and paid to Indian Govt. What is the exemption from US tax payment for the interest income. How should I show the above in my IRS return.
Answer:
Americans are taxed on ALL income from any source and anywhere in the world. Interest is one form of...
kunjan at Yahoo! Answers Mark as irrelevant Undo
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