When Federal Tax Law Frustrates Policy: The Confused Rules Governing the Deductability of Captive Insurance PremiumsA" captive" insurance company is owned by those whose risk it insures. 1 Traditionally a captive insurance arrangement involved a subsidiary that insured its parent. 2 More recently, ...
This includes returns filed via the leadingtax software providersor directly via the IRS website for lower income filers. Once the IRS accepts returns, and if you filed early, your tax return will be automatically submitted to the IRS for processing. The IRS also reitera...
When will I get my tax refund? If you are owed a federal refund, the IRS typically will issue it within 21 days of receiving an electronically filed tax return; paper returns may take up to 6 months. You can check the status of your refund with the Where's My Refund online tool or...
Though most home-sale profit is now tax-free, there are still steps you can take to maximize the tax benefits of selling your home. Learn how to figure your gain, factoring in your cost basis, home improvements and more.
Use of the Electronic Federal Tax Payment System. Same-day wire through your bank. Cash at a participating retail establishment. Instructions for making payments can be found atIRS.gov/payments. If you pay online, which you can do any time of the year, be sure to select the tax year and...
Canada Revenue Agencyrecently revealedtax tips for students, including tax credits, deductions, free tax clinics and more. Whether you're filingCanada taxesfor the first time now that you're attending post-secondary school or have submittedtax returnsbefore and have questions, here's what you need...
A public benefit corporation designation is supplemental to a company’s primary business structure and doesn’t affect its federal tax status. Depending on where they’re located, C corps, S corps, CCs and co-ops can qualify for PBC status. ...
When are state income tax refunds includible in federal taxable income?Clifton, S. Diane
The Internal Revenue Service says that almost all individual taxpayers, regardless of income, can now file their federal tax returns electronically free of charge using the IRS.gov website or the IRS2Go app. Through an agreement with the IRS, taxpayers with income below certain levels can use ...
You can deduct your PMI or MIP from your federal taxes if you meet the eligibility criteria for the applicable tax years (2018-2021). Be sure to review the current requirements and file accordingly. How Can I Cancel My PMI? Typically, PMI can be canceled once you have 20% equity in you...