A refund offset is a process in which the taxpayer will not get the full refund; instead, the excess federal income tax will be used to service unpaid government debt. Many people...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
The same way all workers pay income taxes in the United States, pastors, clergy, and ministers must pay income taxes. However, there are some tips and considerations people in this...
Most students have limited experience with credit cards and other forms of credit. As a result, their credit history is generally weak or nonexistent. Therefore, the most crucial reason...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
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...
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
The law on coronavirus aid, relief, and economic security Acts (the CARES Acts) contains a provision for the exemption of companies known as employee retention credit, a refundable...
Posted by Freddie Cook, CPA on 06/22/2020