Taxation · 07/17/2025

This article aims to provide a tax filing guide for expatriates and Chinese individuals living in the U.S. for the 2025 tax year, emphasizing the importance of understanding tax forms and filing rules. Filing taxes is not only a legal obligation but also involves tax credits and refunds. By accurately completing tax forms, taxpayers can avoid legal risks, make effective use of tax policies, optimize their finances, and enhance their sense of control over personal financial management.

Taxation · 07/17/2025

This guide details the process of reporting and paying sales tax in the United States, including understanding filing frequency, zero reporting, exemption clauses, and the influence of local jurisdiction. It also discusses important considerations for remitting taxes, emphasizing the importance of ensuring compliance. Additionally, tools like Stripe Tax are introduced to help businesses streamline their tax compliance process, allowing them to focus more on business growth.

Taxation · 07/17/2025

In the United States, businesses need to understand their obligation to collect sales tax during transactions. This includes legally registering, accurately calculating tax amounts, and ultimately submitting tax filings and paying owed taxes. As an indirect tax, the business acts as an agent to transfer taxes to the tax authorities. Although the filing and payment processes are typically conducted together, they are independent, and businesses should adjust their filing frequency according to

Taxation · 07/17/2025

This article provides a comprehensive analysis of the inheritance and gift taxes in the United States, outlining relevant tax regulations and exemption thresholds. It discusses the unique circumstances faced by citizens and green card holders and offers effective estate planning strategies to minimize tax burdens and ensure wealth transfer.

Taxation · 07/17/2025

This article discusses the tax treatment and deduction strategies for rental properties and Airbnb in the United States. Landlords can offset their rental income through various avenues such as depreciation, mortgage interest, maintenance costs, insurance, and property taxes. For Airbnb, it is essential to consider the difference between short-term rental days and the services provided to determine the applicable tax reporting method. Additionally, it is recommended to keep all expense receipts

Taxation · 07/17/2025

This paper analyzes the tax gap in the United States, highlighting that from 2014 to 2016, the gap reached $496 billion, which includes unreported income, underreporting, and unpaid taxes. It emphasizes the importance of tax compliance and explores the role of policy initiatives and future outlooks aimed at improving overall tax compliance rates to ensure a fair distribution of tax burdens.

Taxation · 07/29/2025

The IRS urges tax professionals to develop a Written Information Security Plan (WISP) to prevent identity theft and data breaches. Implementing a WISP not only meets legal requirements but is also a crucial step in protecting both client and personal interests. The National Tax Forum will discuss effective strategies to construct this security plan.

Taxation · 07/30/2025

U.S. Treasury Secretary Brunner expressed confidence in businesses regarding the upcoming tariff policy changes, urging no need for panic. However, companies must still prepare for the forthcoming challenges, especially small businesses, which are feeling the pressure along with rising food prices.

Taxation · 07/31/2025

Trade representatives from China and the United States reached a consensus to continue suspending mutual tariff increases, marking a positive development in their trade relationship. The discussions focused on issues such as climate change and the rare earth industry. While no final agreement was achieved, both sides demonstrated a clear willingness to enhance cooperation.

Taxation · 08/01/2025

Under financial pressure, taxpayers may face tax issues related to unemployment and debt relief. This article explores the tax implications in various scenarios and advises taxpayers on how to contact the IRS to alleviate economic stress, while ensuring compliance and protection of their rights.

Taxation · 08/01/2025

This article outlines the process for applying for penalty relief from the IRS, including verifying the accuracy of notifications, understanding the types of penalties, and the various avenues for relief. It emphasizes the importance of communication and the right to appeal a denial. The goal is to assist taxpayers in effectively addressing tax issues.

Taxation · 08/07/2025

This article discusses valid reasons for applying for tax penalty relief, including circumstances such as natural disasters and sudden severe illnesses. It provides an overview of the application process and key considerations, helping taxpayers understand how to effectively address penalty issues.

Taxation · 08/01/2025

This article provides a detailed overview of the regulations regarding tax filing penalties for 2025, including the mechanisms for late penalties, methods to avoid penalties, and how to handle penalty notifications. It emphasizes the importance for taxpayers to submit their filings on time to prevent economic losses.

Taxation · 08/01/2025

This article explores the strategies tax preparers should adopt when faced with tax penalties. It emphasizes the importance of verifying the accuracy of information and the need for timely responses. Additionally, the article analyzes the calculation methods for penalties and interest issues, aiming to assist tax preparers in better protecting the interests of themselves and their clients.

Taxation · 08/07/2025

In 2024 and 2025, the IRS announced quarterly interest rates of 8% for overpayments by individuals and 7% for overpayments by corporations, while the underpayment rate remains at 8%. Keeping an eye on these changes is beneficial for optimizing tax management.