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That state tax refund you just got is a nice little chunk of change; but, before you spend it, ask yourself this: Will I need to pay taxes on it when I file taxes next year? Depending on the method...
For example, if you deducted $1,500 in state taxes last year, but your state refund this year was $2,000, you only need to report a tax refund of $500 on your federal income tax return.
Remember, too, that there are different kinds of retirement income, such as from pensions, Social Security, annuities, and retirement account withdrawals -- and the tax hits may be different for ...
Ohio taxes most retirement income, offering only two credits: a $50 annual senior citizen credit for residents age 65 and older, or a one-time lump sum distribution credit of up to $200 for those ...
The Ohio Department of Taxation provides an online tool on the department's website that allows you to check the status of your income tax refund. You can also call the department's individual ...
The Internal Revenue Service (IRS) finally issued guidance regarding the federal tax status involving special payments made by 21 states in 2022, determining that taxpayers in many states will not ...
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Opinion: Long-shot investment strategies that mask taxpayer risks are not the path toward improving teacher benefits.