The Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain retirement plans to offer expanded loan options. Can I get
There is a new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. The new
Income-related documentation If you earned money send as a taxi driver, your Verifone or CMT metered statement for the tax year noted on your letter. as an Uber Driver, your Uber Tax Summary and all Forms 1099-K and 1099-MISC for the
As taxpayers are getting ready to file their taxes, one of the first things they’ll do is gather their records. To avoid refund delays, taxpayers should gather all year-end income documents before filing a 2019 tax return. It’s important for
Los contribuyentes que interactúan con el IRS tienen derecho a la resolución. Este derecho entra en juego para los contribuyentes que atraviesan por una auditoría. Estos contribuyentes tienen el derecho a saber cuándo el IRS ha terminado una revisión (auditoría).
Taxpayers who are interacting with the IRS have the right to finality. This right comes into play for taxpayers who are going through an audit. These taxpayers have the right to know when the IRS has finished the audit. This
Los contribuyentes que reclaman al menos un hijo como dependiente en su declaración de impuestos pueden ser elegibles para beneficiarse del crédito tributario por hijos. Es importante que las personas que puedan calificar para este crédito revisen las reglas de elegibilidad para
Taxpayers who claim at least one child as their dependent on their tax return may be eligible to benefit from the child tax credit. It’s important for people who might qualify for this credit to review the eligibility rules to
1.Cargos La falta de sus pagos durante 6 meses o más podría hacer que sus acreedores consideren que su cuenta es incobrable. Cuando esto sucede, los acreedores descartan esa deuda como una pérdida contra sus impuestos sobre la renta. Las
1.Charge-offs Missing your payments for 6 months or more could cause your creditors to deem your account as uncollectible. When this happens, the creditors write that debt off as a loss against their income taxes. Charged-off accounts are allowed to