Form 8879 officially authorizes the Internal Revenue Service to accept a personal identification number on behalf of a business owner for aiding in paying business taxes. Many types of these forms are available, and the form used depends on the business type. 8879-C Form 8879-C is specifically ...
Starting with the 2013 tax year, you may be subject to an additional 0.9 percent Medicare tax on wages that exceed a certain threshold. The Additional Medicare Tax is charged separately from, and in addition to, the Medicare taxes you likely pay on most
If you earn income from any of your investments this year, you may have to pay the net investment income tax, in addition to the regular income taxes you owe. You won't know for sure until you fill out Form 8960 to calculate your total net investment income. But before you...
Information provided by PayPal is not intended to be and should not be construed as tax advice. For questions about your specific tax situation, please consult a tax professional. Form 1099-C is used to report information to the US Internal Revenue Service (IRS) when a debt has been canceled...
The IRS is concerned with collecting income taxes on all income, including illegal income. As the United States pursued organized crime in the early part of the twentieth century, and as the war on drugs developed as the century went on, it became evident that the tax evasion involved in la...
Similar to a power of attorney, but offering less authority in comparison, IRS Form 8821 authorizes a person or organization to both receive and receive a copy of filed tax returns and inspect a person’s confidential information pertaining to their taxes. ...
What is Form 5330? Form 5330 is an IRS form that individuals or entities can file to report and pay any taxes that are in relation to employee benefit plans. The filers requesting an extension for Form 5330 must provide some additional information such as Plan Name, Plan Number, and Plan ...
What is HSN Code? HSN code stands for “Harmonized System of Nomenclature,” a eight-digit code used to systematically name and classify goods for taxation and trade. It was developed by the World Customs Organization (WCO) and serves as the global standard for categorizing over 5,000 products...
What is HSN Code? HSN code stands for “Harmonized System of Nomenclature,” a eight-digit code used to systematically name and classify goods for taxation and trade. It was developed by the World Customs Organization (WCO) and serves as the global standard for categorizing over 5,000 products...
The W-9 differs from aW-4 Form—which is more commonly supplied by employees to direct employers—in that the W-9 does not inherently arrange for the withholding of any taxes due.2 Any required taxes based on gains related to the provided W-9 are the responsibility of the TIN holder lis...