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FAQs
Where can I get answers to IRS questions? ›
Call the IRS toll free at 800-829-1040 or make an appointment to visit an IRS taxpayer assistance center (TAC).
Can you get a tax refund with no income? ›If you qualify for tax credits, such as the Earned Income Tax Credit or Additional Child Tax Credit, you can receive a refund even if your tax is $0. To claim the credits, you have to file your 1040 and other tax forms.
Will I get more back in taxes in 2024? ›Bigger tax refunds in 2024
Through the end of February, tax refunds are about 4% higher than last year – although they are still below the recent high of $3,473 in 2022, when pandemic benefits bolstered the typical refund check. All data reflects average tax refunds through the end of February for each year.
You pay tax on your business income (profit) regardless of whether you leave it in the business account or move it to a personal account to spend it.
How to speak directly to an IRS agent and skip the automated? ›Use Where's My Refund, call us at 800-829-1954 (toll-free) and use the automated system, or speak with a representative by calling 800-829-1040 (see telephone assistance for hours of operation). If you filed a married filing jointly return, you can't initiate a trace using the automated systems.
How do I get the IRS to answer? ›You can call 1-800-829-1040 to get answers to your federal tax questions 24 hours a day. Tax forms and instructions for current and prior years are available by calling 1-800-829-3676. You can also order free publications on a wide variety of tax topics.
How to get $7000 tax refund? ›Requirements to receive up to $7,000 for the Earned Income Tax Credit refund (EITC)
- Have worked and earned income under $63,398.
- Have investment income below $11,000 in the tax year 2023.
- Have a valid Social Security number by the due date of your 2023 return (including extensions)
Apr 12, 2024
CAEITC
- Be 18 or older or have a qualifying child.
- Have earned income of at least $1.00 and not more than $30,000.
- Have a valid Social Security Number or Individual Taxpayer Identification Number (ITIN) for yourself, your spouse, and any qualifying children.
- Living in California for more than half of the tax year.
Apr 14, 2023
If you have income below the standard deduction threshold for 2023, which is $13,850 for single filers and $27,700 for those married filing jointly, you may not be required to file a return.
What is the average tax return for a single person making $60,000? ›If you make $60,000 a year living in the region of California, USA, you will be taxed $13,653. That means that your net pay will be $46,347 per year, or $3,862 per month.
At what age is Social Security no longer taxed? ›
Social Security tax FAQs
Social Security income can be taxable no matter how old you are. It all depends on whether your total combined income exceeds a certain level set for your filing status. You may have heard that Social Security income is not taxed after age 70; this is false.
Investment Income - If you have investment income of more than $11,000 in 2023 or 2024, you will not be eligible for the EIC. Investment income includes things like interest, dividends, and capital gains. 3. Foreign Income - If you have foreign earned income, you may not be eligible for the EIC.
How much money can you have in your bank account without being taxed? ›There is no specific limit or threshold that would cause the IRS to tax it. That being said, ant cash deposits of $10,000 or more would be reported by the bank in a Currency Transaction Report (CTR) to FinCEN, an arm of the Treasury Department.
Can you transfer money from your LLC to your personal account? ›You can simply write yourself a check or transfer the money for your business profits from your LLC's business bank account to your personal bank account. Easy as that!
Can I pay my personal bills out of my business account? ›To summarize: Include in Business Income: The money used for personal expenses should be included in your business income. No Deduction for Personal Expenses: Personal expenses cannot be written off as business expenses because they are not ordinary and necessary costs of carrying on your trade or business.
How can I get help with IRS problems? ›You can find the mailing address and phone number (voice) of your local Taxpayer Advocate office in your phone book, on our website, and in Publication 1546, or get this information by calling our toll-free number: 1-877-777-4778.
Who can answer federal tax questions? ›Taxpayers may ask tax questions by calling the toll-free customer service line at 1-800-829-1040 for individual tax issues or 1-800-829-4933 for business-related tax issues.
How do I contact the IRS to ask a question? ›IRS Toll-Free Help
You may call 800-829-1040 with any Federal tax questions.
IRS Customer Service, Online Live Chat
The IRS live chat feature can be found on many of their pages by clicking the "Start a conversation" button at the bottom of a limited number of IRS web pages. If you plan to chat with the IRS online, have your information ready for verification.