The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
A small business needs to get its tax right to avoid unnecessary headache with the IRS. The idea is simple – a plain and accurate disclosure of losses, revenues and deductions...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/07/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
One of the most popular ways to file taxes is via e-filing due to the convenience alongside the increased turnaround time filers get. When you file online, the tendency and number...
Many people look forward to their wedding day when they will be beautifully dressed in a gown and suit with the couple looking forward with enthusiasm to all the beautiful things that...
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
There are multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...
Unknown to many people, the proceeds from selling a house might be taxable. However, this article sheds light on the mode of operation and simple ways to avoid ending up with a huge...
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...