WAYS TO DECLARE PERSONAL INCOME TAX IN TEXAS Personal income tax also called the individual income tax is an income tax that is levied on wages, salaries and other types of wages. This type of tax is usually imposed by the state. Because of some deductions, exemptions and credits, most people do not pay taxes [...]

USED DEDUCTIONS AND TAX INCOME CREDITS BY THE IRS The tax law reform plan significantly increased the standard deductions, and deleted a number of tax deductions that were originally enumerated for deductions. The original "miscellaneous" tax credits are no longer applicable. REAL ESTATE Mortgage Insurance Premiums If the home buyer in the United States pays [...]

IRS FORMS TO BE FILLED IN FOR DECLARATION  INTRODUCTION         Federal income tax and state income tax fill in different forms, but the tax filing process is similar for both of them. The state tax filing process is also not as complicated as federal taxes, and paid tax reporting software also provides the function of state [...]

The federal individual income that is administered by the Internal Revenue Service is undoubtedly the largest source of revenue for the federal government of the United States. Americans who are working are expected to file for tax returns with the IRS year after Year. Most people pay taxes in the form of payroll taxes. These [...]

We would look at the IRS Tax Filing Status, the various IRS tax rates for all statuses and how to choose the correct tax filing status. Tax filing status is a category that defines the type of tax return form that a taxpayer must use when filing his or her taxes. Tax statuses are important [...]

BASIC UNDERSTANDING OF IRS TAX RETURNS IN THE UNITED STATES All taxpayers who meet U.S. tax obligations must declare "Federal Tax" and "State Tax." Federal taxation is the responsibility of the IRS. State tax is the responsibility of the state government where you live. Before filing the deadline, two different tax forms must be filled [...]

REASONS WHY THE IRS CAN CHOOSE YOUR TAX FORM FOR AUDIT After you submit the tax form to the IRS, you may receive a reminder from the IRS to inform you that the tax form will be audited. You may ask, why is my tax form selected? Below we will introduce 8 reasons why the [...]

HOW THE IRS DISCOVERS TAX VIOLATIONS THAT OCCUR ABROAD The IRS has a variety of methods for monitoring tax violations that occur overseas, such as going to places overseas, fishing and investigating to obtain information about taxpayers, requiring taxpayers to produce relevant documents stored overseas, and to witnesses and amnesty request.They put pressure on them [...]

WHAT TO KNOW ABOUT THE IRS NON-RESIDENT TAX IDENTIFICATION NUMBER WHAT IS A NON-RESIDENT TAX IDENTIFICATION NUMBER (ITIN)?  The full name of the individual tax return number issued by the Federal Internal Revenue Service (IRS) is "Individual Taxpayer Identification Number (Individual Taxpayer Identification Number)". The number of digits is usually 7 or 8. According to [...]

IMPLEMENTATION OF THE NEW IRS TAX LAW The new IRS tax law was officially implemented at the beginning of the year 2020. People were advised to conceal overseas financial accounts or they would face heavy fines. On December 31, 2019, the IRS ended its long-term grace period for the Overseas Account Tax Act (FATCA). The [...]