File Tax Exemption
Question: How long does a company have to keep tax exemption forms?
I work in the state of Indiana for a large company. We recently had a few people laid off and I took on some work for someone in accounting. She was responsible for filing tax exemption forms in alphabetical order. Well she has never filed them and I found them in a huge pile in her office. As I have been sorting through them I found some that are dated back to 1972. I asked my boss if I could just shred them and he told me that we can never throw out a tax exemption form in case we get a state audit. But I’m thinking if we ever do get audited will they really look at tax forms from the 70’s?? If anyone knows of a site that could tell me how long I really need to keep them, I would appreciate it.
Thank you
tax emeption forms for our tax exempt customers.
Or its also called a W9thank you Mathew.
Answer: A w-9 does not expire.
If you lose the form (lost or destroyed), you’d have to send a new form to the payee and hope you get it back. Otherwise, you would have to start withholding at 28%.
Daw: Tax questions you were afraid to ask
Do you ever think of lightening your tax load with a few, ahem, omissions? Maybe you are thinking of accepting cash for a job. Leaving income off your tax return. Exaggerating writeoffs. You think others do it. Why not you?
Kenneth Copeland Jet denied tax exemption
Tax Refund Paye
Question: Tax Refund help? Very Confused!?
I’m 17 and I started my job in November. I filled out a P46 straight away and it was sent off. Prior to that, I’d had one, non-tax paying job in a hotel so didn’t have a P45 form. Now I understand that I shouldn’t be paying tax until I’ve earned over a set amount, so I rang up and asked HMRC and they’ve told me I need a PAYE number, my payroll numer, est. Income etc etc. Now my employer says these are on my P46 so HMRC already have these… and now they’re saying I need to fill in more forms….I’m confused…what do I need to do?
Answer: When you completed form P46, it wasn’t your first job, so current employer no doubt correctly put you on emergency tax,(603L?) on a week or month 1 basis. We are now near the end of the tax year on 5th April, so it will nearing final payroll, and too late to amend code.
Your earnings from your hotel count towards your Taxable Income. It wasn’t exempt, just that you were earning below the taxable limit of £6035 a year. Can you do an estimate? If your total earnings for this tax year are less than the taxable limit, the amount won’t really matter.
When you phone HRMC they ask a lot of security questions, because there are a lot of debt collectors and private detectives out there trying to get information on people. They can be very plausible, and HMRC tries to protect your privacy.
I think your best course of action now is to send form P60 (when you get it in another month or so) to tax office, together with details of your employment history since the start of the tax year on 06/04/08. You can download form P91 from http://www.hmrc.gov.uk , then go into individuals and employees, then forms. That will give you the required format. When contacting HMRC, the most important thing is to quote your National Insurance number.
Changes in how some benefits are taxed could affect your take-home pay
The new tax rates announced by Finance Minister Pravin Gordhan are effective from Monday, March 1 and should therefore affect your March pay cheque. If you earn a salary, however, you should also prepare for a few other changes that were announced in previous Budgets and that could affect your pay cheque and your tax deductions from March 1.
Tarpon Ltd.
Filing Joint Tax Return
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Gov. Jennifer Granholm extends tax credit to donation of used vehicles
A taxpayer can claim a state income tax credit of up to $50 for the value of a vehicle donated to a charitable organization.
Joint Tax Return