2019-2020 Federal Income Tax Brackets & Tax Rates; In the United States, the Internal Revenue Service (IRS) is responsible to carry out the functions of federal tax returns. A progressive tax system is applied by the IRS which means that…
IRS Tax filing season 2020; The Internal Revenue Service (IRS) announces the final date to file your 2019 taxes as individual filer in the United States. The 2019 tax season will start in USA on Monday, 27th January 2020 for…
The Internal Revenue Service (IRS) updates the 2020 optional standard mileage rates for the taxpayers and tax professionals throughout United States. These rates will be used in the year 2020 for the calculation of the deductible costs of operating an…
The Earned Income Tax Credit (EITC) is one of the tax credits in USA that is particularly meant for moderate-income families and taxpayers. Earned Income Tax Credit is refundable and it can reduce the tax liability of taxpayers if their…
How my year-end bonus is taxed? This is the most common query among the employee sector in USA, now-a-days. Most likely, your income tax is withheld from your paycheck if you work as an employee. However, at the time when…
Tax-Exempt Organizations Require To E-File; The Internal Revenue Service (IRS) instructs all U.S. tax exempt organizations to electronically file information returns and related forms, as per the Taxpayer First Act, enacted July 1. According to the new IRS tax law…
The Internal Revenue Service and the Treasury Department issues proposed regulations on the compensation deductions for publicly held corporations in USA. The IRS proposed regulations are meant to provide changes from the Tax Cuts and Jobs Act (TCJA) on the tax…
Avoid Tax Time; The IRS brings the good news to the taxpayers in the United States to avoid tax-time surprises and other related problems. Those taxpayers who paid insufficient tax during 2019 can still avoid a tax-time surprise. This can…
Dec. 31 Retirees Deadline; The Internal Revenue Service (IRS) reminds the retirees who were born before 1st July, 1949 in the United States that they must take required minimum distributions (RMDs) from their retirement plans before 31st December, 2019. The…
Can I Get a Tax Refund if I Don’t File & Pay Taxes in USA? Every taxpayer in the United States expects to get a tax refund from the Internal Revenue Service agency. No doubt, your refunds can be the…