Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute in the nature of a workers' compensation act. The exemption also applies to your survivors. The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury.
If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits received, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. For a discussion of the taxability of these benefits, see Other Income under Miscellaneous Income, later.
Go to www.irs.gov and use the search box for Publication 525 (2009), Taxable and Nontaxable Income
http://www.irs.gov/publications/p525/index.html
Yes, TurboTax has the capabilities of doing both federal and state income taxes. If you choose the free version for the federal taxes you will have to pay a fee to complete the state taxes.
All workers in America, regardless of religious beliefs, are subject to the same taxes.
Federal state taxes are taxes to be paid to the federal government on owned property. Theses taxes are to be paid once a year.
Social Security is a federal program. It is a federal "tax" not a state tax.
Minors are subject to both state and federal income taxes just like adults.There are no age limits on income taxes.
No
state taxes, federal taxes, and local taxes.
All Indians are subject to federal income taxes. As self governing entities Tribes can enact tax legislation for their reservation. Some do and some do not. If an Indian leaves the reservation, he/she is subject to the state and local taxes, like sales taxes, in the state or town in which he/she resides.
No. While State taxes are a deduction to Federal income and hence may change your tax due to the Feds, your Federal tax does not effect your State taxes in any year.
no
Interest payments on Treasuries are subject to federal income tax, but not state income tax. If you buy and sell Treasuries, any capital gains are also subject to federal and usually state income taxes.
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.