IRS: Interest Paid to Nonresident Aliens to Be ReportedRichard S. ZarinHumberto Padilla Gonzalez
Lend someone money at zero interest, and you don't make any profit from the deal. Therefore, you might assume that the loan doesn't have any tax implications for you. In many cases, though, you'd be wrong. The tax code expects you to charge a certain amo
the agency will typically sell off the seized assets at auction in order to pay off the outstanding tax debt owed by the taxpayer. if there is any money leftover after all debts have been paid, it will be returned to the taxpayer. it's important for taxpayers to understand that they do...
The tax form used to report the income and its associated reporting threshold will vary based on the type of income paid or processed. This includes but is not limited to the following: payments received for goods and services (Form 1099-K), earned interest (Form 1099-INT), cancellation of...
Why should I let the IRS ‘bully’ or ‘blackmail’ me into a bad settlement or payment plan when help is available? Why shouldn’t I take advantage of available tax relief programs like so many others do? How much more interest and penalties do I want to let build up before I do so...
The tax form used to report the income and its associated reporting threshold will vary based on the type of income paid or processed. This includes but is not limited to the following: payments received for goods and services (Form 1099-K), earned interest (Form 1099-INT), cancellation of...
a credit for people who paid the alternative minimum tax on a prior tax return credit for the Elderly or Disabled adoption tax credit Looking down the lines of Schedule 3, you may notice that some of these credits also require an additional form or schedule. For example, if you claim the...
complex return, TurboTax probably has various options to cover you (see full review). Good for small business’ and self employed. It also has some great post filing support and a100% accuracy guarantee,where they pay any IRS or state penalty (or interest) related to...
The IRS calls Form W-2 an informational return because it informs the above parties about your earnings and the amount of taxes you paid for the year. Who fills out Form W-2? Form W-2 is one of those tax forms that you, the taxpayer, don’t have to fill out. Your employer provide...
The proposed regulations provide that when interest is paid to a partnership, the partners are considered to receive the interest for purposes of applying the 10% shareholder test and the test is then applied by determining each partner's ownership interest in the borrower.Rowe...