Most would agree that taxes are not an interesting topic. But a proper understanding of the tax rules is essential for employers. It is a special responsibility to manage your employees...
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
The EITC (earned income tax credit) is a refundable credit that applies to all taxes owed after completing the return and calculating the amount owed. The Internal Revenue Service...
Posted by Carmen Garcia on 09/14/2020
When Do You Need to Amend Your Tax Return?Filing an amended tax is a nightmare for many people. You have tried your best to be diligent with the preparation. You spend sleepless nights...
Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
When you consider the amount of money you have to send to Uncle Sam every month, it might be tempting to forge figures and inflate your tax returns. Intentionally lying on your...
Form 8396 is an IRS form used by homeowners to apply for a mortgage. The purpose of the mortgage is to help low-income taxpayers pay for their housing. You can only apply for a credit...
The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...
Posted by Elliot Kravitz, ATP on 08/28/2020