Do I need an ITIN? If so, how do I get one? Does it expire? What do I need to know about ITIN and my tax return? These are frequently asked questions that arise each year as tax season...
Tax credit for other dependents is a system designed by Uncle Sam in which relations (nuclear and extended families) can qualify for tax credits. With this credit, taxpayers can get...
What is alimony payment? This is a payment between current spouses or ex-spouses due to an ongoing separation in a marriage or divorce. Alimony (sometimes called support) payments...
Posted by Dennis Jao on 03/05/2021
To help taxpayers adopt children, U.S. tax laws provide an adoption credit, up to an inflation-adjusted maximum, for adopting a child under 18 or a person of any age with a physical...
Yes, if you are a U.S. citizen living abroad or a resident alien, you must file income, estate, and gift tax returns. You are expected to pay taxes regardless of where you may be (the...
In accordance with the TCJA, significant changes have been made to the child tax credit. These changes affect fiscal years 2020 and 2021 and beyond. This article will cover all the...
The gambling industry in America is booming because fresh casinos and sports betting centers are springing up in various parts of the country. People that enjoy gambling know and realize...
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...
When you find yourself as the beneficiary of an Individual Retirement Account (IRA) and the IRA owner passes away, you are told that you have received a tax-free inheritance. Well,...