How much will my tax return be?

I was just wondering how much I would make for my tax return I work two jobs. Payless and Pizza Hut as a delivery driver. Just started working these two jobs. Could anyone tell me if I will get a good tax return or not.

Your tax return will be one or more 8.5" x 11.0" pieces of paper. Your Tax Return is what you send to the IRS, either on paper or electronically.

If you’re asking about your tax refund, nobody could give you any idea due to the utter lack of any relevant information such as filing status, income, exemptions, deductions, etc.

what happens when I only mail my federal income tax without the w-2 form?

My dad did my Income tax for me, since I don’t know how do it, so went to the website that he did my income tax and I just printed and mail my Federal Income Tax without the W-2 form because I couldn’t find it. So my question is this, what will happened when I only mail my federal income tax without the W-2 form? Will I go to jail to just pay penalties?

OK so you did it all ready at this time in your life so now once the IRS does open up fully for business after this shut down for the lack of funding when they do get your mailed return and do get around to processing it with out the copies of your W-2 forms to verify the amount of tax that were withheld they will have to wait until they can get the correct information and numbers from the SSA to verify the information that was enter on your 1040 federal Income Tax return for the 2012 tax year OK.
So this will probably slow down the time that it take for them to be able to complete processing of your 1040 FIT Tax Return at that time OK.
Hope that you find the above enclosed information useful. 10/16/2013

What is the minimum income tax rate that no country can afford to lower even further?

A certain number of countres lower their Income Tax to attract foreign nationals who are not happy with their countries high rates. However if nations are to compete in applying the lowest rates possible there must be a limit under which that strategy would be a loss rather than a gain.

Monaco and some other countries charge zero income taxes. So zero seems to work. It helps if you don’t have an army or try to provide free services to everyone.

You decide the free services first and then set taxes to cover that.

(ITR 2013)How to file Income tax returns online(Detailed Tutorial)

In the hour long video showing possibly everything needed to know ,topic’s covered include

(1) Create registration in the income tax website
This is first mandatory step .Worry not .If you have created a Gmail id , Rediff id ,Facebook ,Twitter etc any type of account , you very well already know how to register yourself for the income tax registration website
This is where you need to upload the final filled return in XML format besides having access to many other features like immediate access to form 26 AS etc
(2) Select and Download the income tax return form (ITR ) as applicable .
Depending on the source of income , the applicant is expected to download the income tax return form applicable to his/her case and then fill it
For example if income for applicant is from salary only ,he is expected to fill ITR 1 however if income is from Profession , then ITR 4 is applicable .If income is from salary plus more than 1 house property , then ITR 2 is applicable .
If income consists of betting on horse race income or winning from lottery tickets , then ITR 2 is applicable
if applicant has income from salary and fixed deposit interest , then ITR 1 is applicable
(3)View Form 26 AS
It is immediately available on creating a account inside income tax registration website
Form 26 AS is a summarised statement of all recorded tax deducted at source and is very easy to obtain.Watch the video and you should be sorted.It is often a replacement for form 16 A and can be used for knowing income from other sources like FD and rent income(when deductor has deducted 10 % tax ) etc to fill ITR form income details sheet as also the TDS sheet

(4) Fill the ITR form ,
The ITR form is neatly divided in tabs , names of which signify the purpose of the ITR form .The ITR 1 has 3 tabs .income details tab ,wherein one mentions income details and uses the calculate tax widget to know tax liability
There is a TDS sheet , wherein applicant can mention details of tax deducted at source .The purpose of this sheet is for applicant to know whether sum total of taxes as per tax deduction at source equals tax liability as appearing in Income Tax liability sheet ,
Finally the taxes paid and verification sheet like name ,shows the final tax liability in view of the total due and total paid
(5) Generate XML & Check it
Once the applicant has completed filling the ITR form as indicated in step 4 , it is time to validate first each sheet using validate widget and then generate a extended mark up language document of the entire filled income tax return (ITR )using the generate XML widget available in income detail sheet ,
This converts the excel file to a XML file and saves it automatically to the same location as to where the excel file is .
One can open the XML file with notepad i.e a free text editor and study it to check whether the details match the filled income tax return form .

(6) Uploading the XML type income tax return online
Login in to the income tax registration website , go to the upload tab and upload the converted XML file after having selected the type of income Tax Return form applicable (i.e ITR 1 2 3 4 5 6 etc ) and the proper assessment year ,
You can while uploading decide to apply digital signature and if you don’t have one ,select the option without digital signature

In case , you have selected the 2nd option (which is normally the case , you would be then required to sign physically the acknowledgement)

(7) Acknowledgement receipt

Download the acknowledgement (ITR V ).Note irrespective of whether you will fill ITR 1 2 3 4 5 6 7 etc , you will get acknowledgement ITR V only which is basically a declaration that you have paid taxes to the best of your knowledge
You need to sign this and send it by ordinary or speed post to Bangalore IT department .
Once the IT department at bangalore receives it , they will send a electronic receipt of the same to the email id as specified while filling the Income tax return form .In ITR 1 it is in income details sheet
(I advise everyone to be very careful while filling the email because this is where the acknowledgement receipt is finally gonna come
(8)E Acknowledgement receipt
Once you received the email from the department, this is the stage where your filing is deemed to be complete
The important things to note in this receipt is the CPP reference number and date ,because in case you decide to revise or rectify the form at any later stage , you can easily do so after following the exact same 8 steps as listed above with the only difference that you need to mention the receipt number and date in the new ITR file (and this is there in the acknowledgement receipt )
(9) Check status online
One can always check the status of their application online .

The income tax site itself lists out filing e return in 3 simple steps
(1) Viewing Form 26 AS
(2) Filling ITR form and uploading return
(3) Check status

Duration : 1:3:5

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Tax Reform: Why you should care

PwC believe there is a clear need for comprehensive Tax Reform — done the right way. The ‘right way’ means increasing those taxes that have the least effect on investment and employment, and at the same time reducing reliance on taxes that distort incentives to work, invest and transact business. It also means addressing those factors which increase the complexity of the tax system and the cost of compliance.

This is an issue that will not go away. As part of a broader community discussion about the challenges Australia faces, we need an informed and intelligent conversation on tax. Leaders of civil society, business, unions and the public policy community must drive this conversation if we are to realise the benefits across all parts of society. The overall objective is twofold: economic growth, and enhancing the well-being of the Australian public.

For more information visit:

Duration : 0:1:59

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U.S Income Tax Fraud

Must See IRS Employees Quitting Their Jobs How You Can Legally Avoid Paying US Income Tax

How You Can Legally Avoid Paying US Income Tax (Aaron Russo)

How to Stop Paying Property Tax

16th Amendment to the U.S. Constitution: Federal Income Tax (1913) FRAUD

An Open Message to All Americans IRS Tax Is Illegal – No Tax Law Exists

Duration : 0:9:53

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Why does Starbucks pay so little tax? – MoneyWeek Investment Tutorials

Like this MoneyWeek Video? Want to find out more on paying tax?
Go to: now and you’ll get free bonus material on this topic, plus a whole host of other videos.

Search our whole archive of useful MoneyWeek Videos, including:

· The six numbers every investor should know…

· What is GDP?

· Why does Starbucks pay so little tax?

· How capital gains tax works…

· What is money laundering?

Duration : 0:13:42

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What is implied when a CPA signs the preparers declaration on a federal income tax return?

A. The CPA has verified all the information furnished by the taxppayer.

B. The Tax Return and supporting schedules were prepared in accordance with the generally accepted accounting principles.

C. The tax return is not misleading, based up all the information of which the cpa has knowledge.

D. The tax return was prepared by a CPA who maintained an impartial attitude in preparing the return.

I havent been able to find this answer. Does any one on here have any ideas as to the solution?

5. The preparer’s declaration on a tax return often states that the
information contained therein is true, correct, and complete to the
best of the preparer’s knowledge and belief based on all information
known by the preparer . This type of reference should be understood
to include information furnished by the taxpayer or by third parties to
a member in connection with the preparation of the return .
6. The preparer’s declaration does not require a member to
examine or verify supporting data; a member may rely on information furnished by the taxpayer unless it appears to be incorrect,
incomplete, or inconsistent . However, there is a need to determine
by inquiry that a specifically required condition, such as maintaining
books and records or substantiating documentation, has been satisfied
and to obtain information when the material furnished appears to be
incorrect, incomplete, or inconsistent . Although a member has certain
responsibilities in exercising due diligence in preparing a return, the
taxpayer has the ultimate responsibility for the contents of the return .
Thus, if the taxpayer presents unsupported data in the form of lists of
tax information, such as dividends and interest received, charitable
contributions, and medical expenses, such information may be used
in the preparation of a tax return without verification unless it appears
to be incorrect, incomplete, or inconsistent

Is this a good tax reform plan?

Eliminate the Income Tax
Lower the Corporate Tax to 15%
Have a tax on all imports at 15%
Have a national property tax at 15%
Have a 15% consumption tax
Is this a good Tax Reform plan?


1. Many corporations pay less than 15% now, so you wouldn’t really be lowering their tax; you’d be raising it.

2. It would not bring in enough money. The national debt would increase and millions of government employees would lose their jobs.

3. The poor would not be able to afford to pay a 15% consumption tax and pay for food, housing, etc., so they would have to go on food stamps, welfare, etc., which would cost the government more than they were paying in taxes.

4. Most critically, the 15% import tax would violate international agreements, and force every other country in the world to prohibit imports of anything made in the U.S. This would mean, first, that U.S. exports would drop to zero, and, second, that only things that are used only in the U.S. could be made in the U.S.; anything used in more than one country could no longer be made in the U.S. (because what was used in the other country could not be made in the U.S., and it’s not cost-effective to make the thing in two different countries).

In conclusion, it wouldn’t really matter that you eliminated the income tax, because almost nobody would have an income. Nearly all jobs depend, directly or indirectly, on either (a) the existence of an income tax, so that the government can spend in ways that create jobs, or (b) the export of U.S. products to countries that won’t all imports from a country with a 15% import tax.

Do corporations get a tax deduction on paying income tax and if so where is it reported?

When filing a corporate Tax Return I think I can deduct the state income tax on the federal return, but then my state tax changes. Can I deduct both the federal and state income tax to be paid on both the federal and state return or just the state on the federal return?

You can’t deduct federal Income Tax.