Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
It is normal to wonder when Uncle Sam will send your tax refunds if you have filed your taxes for the year. The IRS reveals that nine of ten taxpayers that file electronically can...
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
When dealing with taxes, one needs to be proactive as things do not always move in a single direction. One might receive an income now with the mandate to repay some or everything...
Amnesty is an expression of forgiveness on the part of the federal government to its citizens. The choice is not to punish a business, an individual, or an entity for a crime. Under...
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
Regardless of your level of insight into taxes as an individual or a business, you must understand the concepts of FATCA and FBAR and their differences because to understand and utilize...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
There are some processes involved in filing an amended tax return with Uncle Sam. One needs to fill form 1040X and submit it to the IRS. Understanding the tax code is a pretty complicated...