Author: jindocloud

Income Tax Due Date

2023-05-09

Individual Income Tax   Category Deadline for declaration Extension period Form 1040 Individual Income Tax 4/15 6 months Form 709 Gift tax 4/15 6 months Form 706 Estate tax Within 9 months after the decedent’s date of death 6 months   Business Income tax   Category Deadline for filing Extension period Form 1120S S Corporate Income Tax Form 1065 Partnership Income Tax 3/15 6 months Form 1120 C Corporation Income Tax Calendar Year: 4/15 Fiscal year: 15th day of the 4th month after the end of its tax year; A corporation with a short tax year ending in June must file by 9/15 Calendar Year: 10/15 Fiscal year: 6 months; A corporation with a short tax year ending in June maximum extends 7

Know the tax rate

2023-05-09

2023 Federal Income Tax Brackets and Rates for Single, Married Couples Filing Jointly, and Heads of Households Tax Rate For Single Filers For Married Individuals Filing Joint Returns For Heads of Households 10% $0 to $11,000 $0 to $22,000 $0 to $15,700 12% $11,000 to $44,725 $22,000 to $89,450 $15,700 to $59,850 22% $44,725 to $95,375 $89,450 to $190,750 $59,850 to $95,350 24% $95,375 to $182,100 $190,750 to $364,200 $95,350 to $182,100 32% $182,100 to $231,250 $364,200 to $462,500 $182,100 to $231,250 35% $231,250 to $578,125 $462,500 to $693,750 $231,250 to $578,100 37% $578,125 or more $693,750 or more $578,100 or more   2023 Standard Deduction Filing Status Deduction Amount Single $13,850 Married Filing Jointly $27,700 Head of Household $20,800   2023 Earned

Individual income tax inquiry

2023-05-09

For federal income tax refund information: 1. Check online for federal tax refund status 2. Additionally, you can call 800-829-1954 for more information. After connecting the call, you will be prompted to select a forwarding number. You will receive the same results as checking online if you choose the automatic inquiry option. Alternatively, you can choose to be connected to a receptionist, but you may have to wait up to three hours for an answer. If the wait time exceeds three hours, the call will be disconnected.   What is the expected timeframe for receiving the Internal Revenue Service (IRS) tax refund? Paper mailed tax return. Should a bank account be listed on the tax form, the IRS will issue

Tax returns are approaching, and HHL warns: The IRS is stepping up its scrutiny of taxes. These are the easiest situations to target!

2023-05-09

According to current IRS rules: Personal tax filing deadline April 18, 2023 April 18, 2023 Filing time: It starts on January 23, 2023 If your tax documents are ready, you can contact us now so that you can get your tax refund sooner and sooner. If you have any questions, please contact HHL Advisors Group HHL lead The New Year’s tax season began again, if the tax is not correct, light is to pay tax fines, heavy may cause a lawsuit. This period, Junheng accounting firm will analyze with you, the IRS is how to choose the object of tax inspection, and which taxpayers are more likely to be investigated? 1. Which methods to audit and check tax? First of

[Tax Guide for Overseas American Citizens and Alien Residents] Part 1: What is a foreign resident (green card or substantive residence test)? Do I have to file tax returns, when to file and pay taxes? ?

2023-05-09

According to current IRS regulations: Individual tax return deadline April 18, 2023 April 18, 2023 Tax filing start time: Starts January 23, 2023 If your tax declaration materials are complete, you can contact us now to get your tax refund faster and earlier. If you have any questions, please contact HHL Advisors Group HHL lead As mentioned in About Publication 519, U.S. Tax Guide for Aliens, if you are a U.S. citizen or resident alien, regardless of where you live, your worldwide income will generally be Included in the scope of U.S. income taxation and subject to those income tax filing requirements that apply to citizens or resident aliens residing in the United States.In the first issue, let’s analyze: What

Georgia, Alabama storm-damaged individuals, businesses: Eligible for tax relief; deadline extended to May 15

2023-05-09

According to current IRS regulations: Individual tax return deadline April 18, 2023 April 18, 2023 Tax filing start time: It is expected to start around the end of January 2023 If your tax declaration materials are complete, you can contact us in mid-January to get your tax refund faster and earlier. If you have any questions, please contact HHL Advisors Group HHL Answers Storm-affected people in Georgia and parts of Alabama will now have until May 15, 2023 to file various federal personal and business tax returns and pay taxes, the IRS announced Jan. 19. 1. Georgia, Alabama, Storm-affected people in Georgia and parts of Alabama will now have until May 15, 2023 to file various federal personal and business

W-2 analysis

2023-05-09

What is Form W-2? W-2 is the annual salary summary form obtained from the employer at the beginning of each year, which summarizes your total salary and tax deductions for the previous year. The employer will give you this form no later than February. If you do not receive it, please contact the employer to ask for it. ​ W-2 has a very significant feature (or it is different from 1099-NEC). Once the employer decides to issue W-2 to the employee, he must also pay certain social security benefit tax and medical security tax (also known as FICA). This is the tax paid in advance for employees to receive social security benefits (usually guaranteed pensions) and medical security benefits in

W-4 analysis

2023-05-09

In the United States, if the income reaches a certain level, it is necessary to prepay some taxes to the government in the current month or quarter. Penalties will apply if taxes over $1000 are not prepaid. Therefore, the entry of a full-time job often starts with filling out the W-4 form, which is the calculation and signing form specially used by the tax bureau to authorize companies to withhold federal taxes for you, including marital status, withholding income tax relief wait. When you want to change the preferential amount of tax credit on W-4, or when your marital and financial status changes, you should modify W-4. Employers need to make it effective within one month. Employees may be subject

1099 resolution

2023-05-09

Form 1099 is an income summary form given to you by an individual or organization, with the tax ID number of the issuing organization and the SSN of the recipient (you). When a company, organization or someone else gives you a 1099 form, it means that they have also reported to the IRS the behavior and amount of money they gave you this year. The one in your hand is for tax declaration. Remember to declare when you file tax at the beginning of next year, otherwise it will be easy to be taxed and even fined.   Usually our 1099 can come from various institutions and departments, but in fact 1099 is a general term for a type of

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