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 [...]

HOW TO PROPERLY DEAL WITH TAX INVESTIGATION BY THE IRS In the life of every taxpayer, it is possible to be taxed at least once by the IRS. Generally, the taxation population of the IRS is 1% of all taxpayers. Of course, everyone is unwilling to be taxed, but this is not within the taxpayer’s [...]

POSITIVE IMPACT OF TAX CUTS ON LOW-INCOME PEOPLE Evaluating the effects of tax cut policies and clarifying the impact of tax cuts on the economy and society is an insightful discussion in today’s academic institution. According to income division, high-income people receive a greater amount of tax reduction because they have higher income and more [...]

    HOW TO APPLY FOR TAX REFUND FOR EXCESS WITHHOLDING TAX IN ANOTHER COUNTRY The Internal Revenue Service stipulates that non-U.S. citizens, resident sellers must pay 15% of the house sales price as a withholding tax when selling a house. But we know that withholding tax is not really a tax to be paid, [...]

PROS AND CONS OF IRS INSTALLMENT PLANS   If you are an individual or business owner with significant tax debt that you are financially unable to pay, you may be eligible to enroll in an installment agreement with the Internal Revenue Service. An installment agreement is essentially a payment plan that enables you to pay [...]