Form 740-V 2025

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2023 4.2 Satisfied (44 Votes)
2022 4.1 Satisfied (31 Votes)
2021 4.8 Satisfied (81 Votes)
2020 4.2 Satisfied (82 Votes)
2018 4.3 Satisfied (118 Votes)
2017 4.4 Satisfied (134 Votes)
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The family size tax credit is based on modified gross income and the size of the family. If total modified gross income is $41,496 or less for 2024​, you may qualify for the Kentucky family size tax credit.
The use of Form 740-V, Kentucky Electronic Payment Voucher, will help process your payment more accurately and efficiently. Do not send a copy of your electronically filed return with payment of tax due.
Retirement and pension income tax: The first $31,110 of retirement income is exempt. Amounts above this are taxed as individual income. Investment income tax: Capital gains are taxed as individual income. Social Security income tax: Social Security benefits are fully exempt from Kentucky income tax.
Getting a letter from the IRS can make some taxpayers nervous but theres no need to panic. The IRS sends notices and letters when it needs to ask a question about a taxpayers tax return, let them know about a change to their account or request a payment.
A tax bill, called a Notice of Tax Due, is generated when the total amount due for the tax period is not paid. The notice will include the tax amount due, plus applicable penalties, interest and fees.
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Some common reasons for certified letters include an outstanding balance, refund issues, return questions, identification verification, missing information, return changes, and processing delays. If youre unsure of the reason for a certified letter from the IRS, ask your tax accountant for help.
If you dont make acceptable payment arrangements and/or dont make the payments you agreed to, the Department of Revenue will take action to collect the money you owe. Not paying your taxes can result in the Department of Revenue taking Collection Actions.
Our records show that you have an outstanding balance. Additional interest will accrue if the tax and/or fee is not paid in full. Details of the balance due are shown on your letter.

form 740