Large IRS Tax Bill May Arrive with Sale of Your Second Home
The IRS Form 1040 is one of the official documents that U.S. taxpayers can use to file their annual income tax return. IRS Form 1040 comes in a few variations. There have been a few recent changes to the federal form 1040. We’ll review the differences a
A 1971 Supreme Court decision affirmed the IRS as an agency of the U.S. government. The IRS logo symbolizes IRS' goal to be a just, conciliatory, and fair organization. What Is the IRS? The IRS is the federal agency that enforces tax laws that Congress enacts. Some of the agency's ...
2023. Those affected have until May 15, 2023, to file returns and pay any taxes that were originally due during this period. This includes 2022 individual income tax returns due on April 18, as well as various 2022 business returns normally due on March...
During the pandemic, we began requiring all clients to submit a copy of their IRSAccount Transcriptalong with their Tax Organizer and other annual tax prep documentation. Initially, this was to confirm the amounts of stimulus payments and child tax credit payments. But what we found was that ...
or bymailing a check or money orderthrough the U.S. Postal Service. The IRS typically announces the date when it will begin accepting tax returns during the first week of January of each year. Knowing how you can make your payments can speed up the process of filing your annual tax retur...
The IRS wants to be sure that owners of traditional IRAs and participants in 401(k)s and other workplace retirement plans are properly reporting and paying tax on distributions. Special attention is being given to payouts before age 59½, which, unless an exception applies, are subject t...
Attachment of the tax at first sale or use. Direction is provided that the tax attaches to the first sale or use of a taxable chemical by the manufacturer, producer, or importer, but there is still ambiguity as to whether and to what extent that first use or sale that renders the...
The IRS, in cooperation with the Department of the Treasury, updated the various W-8 forms in January 2017, as well as the reporting requirements. Prior rules no longer apply.1 A resident of another country might have income earned in the United States, but a tax treaty between the U.S...
By Edward Snook Investigative Reporter USA - Volumes have been written on the subject of paying or not paying the federal income tax even though the subject is very simple. Our founders didn't create an income tax because to do so would have been totally against the principles of freedom, ...