An Individual Taxpayer Identification Number, or ITIN for short, is for people who have a federal income tax filing or reporting requirement, but who are not eligible for a Social Security number. Taxpayers who need an ITIN can mail a completed Form W-7, along with the required identification documents and federal tax return, to the IRS. [...]
This article was published by the IRS. The Internal Revenue Service is reminding teachers and other educators planning ahead that they'll be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return next year. This is the first time the annual limit has increased since the special educator [...]
Did you request an extension of time to file your tax return? If so, the filing deadline is coming soon. Since October 15 falls on a Saturday this year, you have until October 17 to file. But don't wait to file! File electronically as soon as possible once you have all your information together. There's no [...]
This article was published by the IRS. It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control what will be done and how it will be done. What matters is that the business [...]
This article was published by the IRS. By law, everyone must pay tax as they earn income. Generally taxpayers must pay at least 90 percent of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two. If they don't, they may owe an estimated tax penalty when they [...]
