It is safe to call form 1040, the mother of all tax forms, as it is the standard tax form that people will need to report their income to Uncle Sam. In addition, it also comes handy...
IRS Form 8949 is a tax form used primarily to report sales and trade of capital goods. Form 8949 is filed alongside Schedule D of the income tax form.What is IRS Form 8949?Form 8949...
Since preparing your tax return hasn't been intimidating enough, there may be times when you need to amend a pre-filled tax return. While filling out a correct return may seem...
After you retire from the military, filing taxes may seem less complicated than when you were still in service, but veterans can still benefit significantly from the tax code. To...
Tax credits, such as elderly tax credit and the disabled, are credits applied to taxes owed. For example, if you owe $2,000 in taxes and have a loan of $700, you only have to pay $1,300....
Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it, the...
If you've made a mistake on your tax form, don't panic. There are processes and forms to remedy the situation.The worst thing that can happen with a mistake is interest and...
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020