This answer will depend on what type of money is owed and to who. If you are in the FMS offset refund tax program for any legal government debts it is possible for the FMS to get a part of or your entire refund amount.
The Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, has been authorized by Congress to conduct the Treasury Offset Program. Through this program, your refund or overpayment may be reduced by FMS and offset to pay any past due child support, Federal agency non tax debts, or state income tax obligations.
Go to www.irs.gov and use the search box for Topic 203 - Failure to Pay Child Support, Federal Non Tax and State Income Tax Obligations
http://www.irs.gov/taxtopics/tc203.html
For additional information, FMS can be reached at 800-304-3107.
You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.
Its pretty simple "You owe money to the FED. GOV no matter what" consequences of that scenario is you will have to pay to IRS when you file you're taxes at end of the year.
You will have to pay a fine. And pay all the money back that you owe.
No, a person will not owe taxes to the IRS if they haven't worked in 8 years. Taxes are only due on money earned.
If you owe money to the IRS for prior years taxes, and you have a refund due to you on this year's taxes, the IRS will keep the refund and apply it towards the debt that you owe.
Your state can flag your account to withhold your federal refund in order to meet a debt owed;however, in general, your state,they can only take your taxes if you owe on a student loan, have back child support, or owe taxes. I guess you need to contact Dept of revenue of your state.
You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.
Its pretty simple "You owe money to the FED. GOV no matter what" consequences of that scenario is you will have to pay to IRS when you file you're taxes at end of the year.
You will have to pay a fine. And pay all the money back that you owe.
Up tot he full amount of any payment you receive from the Gov't. Law now is the Gov't won't pay people (or Cos) who owe them money. Sort of makes sense.
No, a person will not owe taxes to the IRS if they haven't worked in 8 years. Taxes are only due on money earned.
If you owe money to the IRS for prior years taxes, and you have a refund due to you on this year's taxes, the IRS will keep the refund and apply it towards the debt that you owe.
Yes, a tax chart help you to figure out how much money you owe in taxes. You can find a tax chart online.
i think if you don't owe taxes for 2007,but owe taxes on prior years you should still get a stimulus check as long as you are making monthly payments on what you owe.
Yes. If you owe the federal government money, the Department of the Treasury can withhold your income tax refund to satisfy the debt.
you simply are having more withheld each paycheck with less chance that you will owe money at the end of the year to the IRS. My husband and I chose to do this after having to pay money last year for the first time ever after doing our taxes.
It depends. If you owe money to the government, then yes. Otherwise, no.