(VIII)
The tax credit amount does not have any affect on your AGI nor on your taxable income amount. Your federal income tax liability if any will be reduced by up to the 8000 of your FTHBTC. If your federal income liability is less than the 8000 amount then you will receive a refund of the amount that is left. The 8000 FTHBTC is a refundable credit and if you do not have any federal income tax liability you will receive the 8000 amount as a refund.
No the FTHBC 8000 amount that your received in the 2009 tax year is not taxable income that you would have to report on your 1040 income tax return.
Type your answer here... 8000 per minute
The amount of taxes that you have to pay depends on how it affects your annual income. However, it is common practice to withhold about 20% of cash prizes for income tax purposes. 20% of 8000 is 1600.
Your employer should be the one that may be able to give you these numbers for the amount of employment taxes and income tax federal, state and local taxes that may be withheld from each 8000 a month pay periods. 8000 x 12 = 96000 for the year.
8000 = 8x103
Eight thousand.
$8000 or $8000.00
114,000,078,007
Eight thousand.
eight thousand 8,000