You do NOT get any deductions on your 1040 income tax return for the payments that you make on your past due federal income taxes, penalties, or interest.
No
You will file a return. You will not get a refund (which is a refund of your overpayment) if you owe more than you have paid in through withholding and such - which is waht your payment is for - to make up for what you should have pre-paid. Depending on the amount of the underpayment and other factors, it is possible you will also owe a penalty and interest on that underpayment.
Not deductible on your income tax return unless the amount paid was to produce taxable income that was reported on your income tax return. Then a limited amount could be deductible on your income tax return.
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
I don't know anything about your tax return but I can say that if you have a personal tax return and purchases from Lowes that you refer to are for normal maintenance of your home the answer is no. You cannot deduct expenses for maintaining your home.
If you are talking about your amount paid with your federal tax return, the answer is no. You cannot deduct your previous years federal income tax on your current years tax return. You can deduct on Schedule A the amount paid on your State income tax return if you itemize your taxes.
No
You will file a return. You will not get a refund (which is a refund of your overpayment) if you owe more than you have paid in through withholding and such - which is waht your payment is for - to make up for what you should have pre-paid. Depending on the amount of the underpayment and other factors, it is possible you will also owe a penalty and interest on that underpayment.
Not deductible on your income tax return unless the amount paid was to produce taxable income that was reported on your income tax return. Then a limited amount could be deductible on your income tax return.
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
No. The only deductions that you can take on a tax return are items that you actually paid. However, you can deduct the amount of the bill that you did pay and then next year you can deduct the part that was paid during this year, even though the bill was for last year.
I am assuming you are referring to an individual basis. You cannot deduct miscellaneous cash spending on a personal tax return. You cannot deduct household expenses on your tax return either. You cannot deduct your regular cost of living expenses.
The amount you can contribute depends on your RRSP deduction limit. You can find your deduction limit by looking at your 2011 Tax Return. Your RRSP deduction limit is the amount of RRSP contributions that you can deduct on your tax return for a given year.
I don't know anything about your tax return but I can say that if you have a personal tax return and purchases from Lowes that you refer to are for normal maintenance of your home the answer is no. You cannot deduct expenses for maintaining your home.
When you file an amended return, just put in the correct numbers rather than trying to explain on the form. If you want to explain, include a letter when you send in the amended return. You deduction is limited to the amount billed or the amount paid by you. You cannot deduct any amount that you did not personally pay and cannot deduct any amount paid or reimbursed by insurance.
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
A individual taxpayer cannot deduct payroll taxes on the individual taxpayers income tax return.