How do I file my taxes if I received a 401(k) payout?

Answer A 401(k) plan is a retirement account offered by many employers to company employees to help them save for retirement while getting special tax advantages. If you took money out of your 401(k) plan... Read More »

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Can I File Taxes If I Received TANF?

Among the many welfare benefits available to taxpayers, the Tax Assistance for Needy Families (TANF) benefit is one of the most common state-administered assistance programs. Although TANF often p... Read More »

Do I have to file taxes if I received no income?

Taxes are filed and formulated based on what you make as an income. Therefore, if you make no income throughout a calender year, then you would not be obligated to pay any Do... Read More »

How Do I File for Taxes if Unemployment Compensation Is All That I Have Received All Year Long?

The Internal Revenue Service considers unemployment benefits taxable income and, if you chose not to have taxes withheld from your payments, you may owe taxes at the end of the year. Typically, if ... Read More »

Where do you report a cash payout on federal taxes?

When a taxpayer receives a form 1099-MISC for a cash payout, that amount is reported on line 21, labeled "Other Income," on the personal income tax Form 1040. Cash payouts may include lottery or ga... Read More »