One of the many documents your employer will ask you to complete is IRS Form W-4: Employee Withholding Certificate when you get a new job. The way you complete this Form determines...
Posted by Carmen Garcia on 02/17/2021
The FICA tax is the federal law on insurance contributions. The Federal Insurance Contribution Act is a federal payroll of the United States regulating social security and health insurance...
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
If you do not pay your taxes on time, interest and penalties will accrue with time. As a result, it is in the best interest of taxpayers to make payments when due. Statute of...
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...
A program was created by the Federal Unemployment Tax Act (FUTA) to help state government pay terminated workers unemployment benefits. Employers that pay wages of $1,500 or more annually...
Most families are not tax professionals. So when the time comes to hire a nanny, especially if it's your first time, knowing all the details and IRS requirements and your status...
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...
Form 1099-G is one of a series of "1099" forms used by the IRS to report various payments and financial transactions with the government, in addition to employee salaries.Key...