What is the minimum income to file federal taxes in 2019?
For single dependents who are under the age of 65 and not blind, you generally must file a federal income tax return if your unearned income (such as from...
Knowledge Base
Latest insights and tutorials from the The Daily Horizon team.
When you drive away from the gas pump you have just paid what type of tax?
Excise taxes are included in the price of a product, and you paid them when you make a purchase of the product that includes them, for example, gasoline. ...
Read More →Can addiction counselors make good money?
The average annual salary for a counselor in the field of substance abuse and mental health treatment is $44,630. There’s a significant range in counselin...
Read More →What happens if you lie about income on taxes?
The IRS can audit you. The IRS has a formula for picking out returns to audit. The IRS is more likely to audit certain types of tax returns – and people w...
Read More →What happens if your taxable income falls into the lowest tax bracket?
If your income exceeds the range in a lower bracket, the remaining amount of income will be taxed at the rate in the next bracket, and so on. Only the por...
Read More →Can someone else claim me as a dependent on their tax return?
Anyone at all, if someone else can claim you as a dependent (in other words, you usually can’t be someone’s dependent and then claim dependents yourself)....
Read More →Is the IRS auditing during Covid 19 2021?
COVID-19 may have lowered the likelihood of audits in 2020. Wealthier taxpayers may soon have a greater chance of being audited in 2021. The IRS was criti...
Read More →Where can I find my employer identification number?
You can locate your EIN on your confirmation letter from the IRS, old tax returns, old business loan applications, your business credit report, or payroll...
Read More →Can I use financial aid as a source of income?
The IRS classifies the aid used to fund room and board and other expenses not related to coursework as earnings. However, you do not have to declare grant...
Read More →Can I claim my child as a dependent if they file their own tax return?
If you son qualifies as a dependent and files his own tax return, then he must properly check the box that says that he can be claimed on someone elses re...
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