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Which group pays most taxes?

Affluent Americans pay a larger share of their income in individual income taxes, corporate taxes, and estate taxes than do lower-income groups. 1 By cont...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is there a limit to the number of dependents you can claim?

No, there is no maximum amount of dependents you’re allowed to claim on your tax return. You can claim all dependents who are qualified child dependents a...

Do I owe excise tax in Massachusetts?

If your vehicle is registered in Massachusetts but garaged outside of Massachusetts, the Commissioner of Revenue will bill the excise. The minimum motor v...

Do I have to report short term disability on my taxes?

The federal government doesn’t tax short-term disability benefits in California (unless the SDI payments are a substitute for unemployment insurance) nor ...

Can I claim someone as a dependent if they owe back taxes?

Answer: Carolyn – IRS does not withhold taxpayers refund because their depend owes either a tax debt or non-tax debt. Whether you can claim someone as a d...

What is a retirement annuity policy certificate?

What is a retirement annuity contributions tax certificate (IT3(f))? It reflects the voluntary contributions you made to a retirement annuity fund during ...

Do I need to keep old w2?

If you have employees, including household employees, keep your employment tax records for at least four years after the date that payroll taxes become du...

How much do you have to make to not have federal taxes taken out?

For a single adult under 65 the threshold limit is $12,000. If the taxpayer earned no more than that, no taxes are due. This situation is only slightly di...

How far back can I submit my taxes?

six years The IRS requires you to go back and file your last six years of tax returns to get in their good graces. Usually, the IRS requires you to file t...

Are tax refunds being split?

You can split your refund among up to three different U.S. financial institutions as long as they will accept a direct deposit to your account. Remember: ...