Taxation · 07/16/2025

The IRS offers various online and phone services to assist taxpayers with tax-related issues, including checking refund statuses and submitting amended returns. Most refunds are issued within 21 days, and the available resources help taxpayers navigate the tax process more easily.

Taxation · 02/27/2025

This article discusses whether pension or annuity payments in the United States are subject to taxation. It provides a guide on using relevant consulting tools to help taxpayers clarify their tax status.

Taxation · 08/07/2025

This article helps you understand the tax implications of pensions and annuity payments, providing key insights into the differences between qualified and non-qualified retirement plans. It discusses how to prepare necessary data to ensure you can manage tax issues wisely after retirement.

Taxation · 08/07/2025

This article analyzes the tax issues related to pension and annuity payments, helping readers understand their tax nature. It covers the differences between pensions and annuities, when taxes need to be paid, the importance of recovering investment costs, and how to obtain more accurate information to ensure financial security in retirement.

Taxation · 08/07/2025

This article discusses the concept, formation, and impact of federal tax liens, highlighting their detrimental effects on personal finances and credit. It offers effective pathways for lien release, helping you understand the legal significance and consequences of tax liens.

Taxation · 10/23/2024

The IRS is set to adjust for 2025, raising tax rate thresholds by 2.8%. The standard deduction will increase to $30,000 for married couples and $15,000 for single filers, easing the tax burden on taxpayers.

Taxation · 08/06/2025

Elon Musk recently expressed strong dissatisfaction with the Trump administration's tax and spending bill, accusing it of being driven by political interests. Trump appeared confused by Musk's remarks, highlighting the growing rift between the two powerful figures.

Taxation · 08/13/2025

This article explains how to apply for Innocent Spouse Relief using Form 8857, highlighting the eligibility criteria, procedures, and deadlines. It aims to assist taxpayers in understanding their rights and effectively managing their tax burdens.

Taxation · 08/13/2025

This article explains how to use the IRS online tools to track the progress of tax refunds, including filing dates, status updates, and potential issues. It aims to help readers effectively manage their tax and refund information.

Taxation · 02/07/2025

The definition of a U.S. tax resident is determined by the green card test, which grants legal permanent resident status and associated tax benefits. To maintain this status, it is essential to understand the regulations regarding abandonment, administrative, or judicial termination. This article provides detailed information to ensure your rights are protected.

Taxation · 08/12/2025

The ITIN (Individual Taxpayer Identification Number) is an essential identification tool in the U.S. tax system for non-citizens. This article discusses the definition of ITIN, usage guidelines, and its differences from the Social Security Number (SSN). It addresses common questions related to ITIN and emphasizes the importance of handling ITIN properly.

Taxation · 08/12/2025

The IRS has partnered with state tax agencies and the tax industry to launch the "Tax, Security, Together" campaign, aiming to raise public awareness about identity theft and protect taxpayer data security. The initiative calls for collective efforts from all sectors of society to implement effective measures and enhance awareness of data security protection.

Insurance · 08/13/2025

The IRS Procedure No. 2019-31 provides insurance companies with discount factors for unpaid losses and expected recoverable claims from accident years 2018 and prior, aiding in compliance calculations. Effective from 2018, this procedure ensures accuracy in financial reporting within the insurance sector and is influenced by tax laws Section 846 and Section 832, further driving financial stability and risk management for insurance companies.

Taxation · 08/12/2025

When a foreign enterprise completely terminates its trade or business activities in the United States, it must file Form 8848 to properly extend the assessment period for branch profits tax and ensure compliance. Domestic transferring enterprises must also follow the relevant declaration procedures when receiving assets to maintain tax compliance.

Taxation · 08/13/2025

This article provides an interpretation of the IRS CP71A (SP) notice and corresponding response strategies, helping taxpayers understand the consequences of outstanding balances and how to alleviate financial burdens through appropriate payment options or transaction requests.