Form 843 is a multifunctional tax form that you can use when requesting a refund or abatement of some taxes, penalties, and interest. The form is used to claim a refund for certain types of taxes and fees, and it can also be used to request an abatement for other types of tax and fee … Read more
One of the largest monthly expenses for working families is child care. Whether you send your kids to daycare or hire an in-home nanny, the cost can burden a tight budget. The good news is that the IRS offers credit to help you pay these costs. The credit is called the Child and Dependent Care … Read more
You can track your tax refund by using the IRS’ online tool “Where’s My Refund?” or the free IRS2Go mobile app. You can also check the status of your refund by calling an IRS telephone assistor. It’s best to wait two to five days after the date the IRS says you should receive your refund before checking … Read more
You will likely need to complete Form 6251 if you’re subject to the alternative minimum tax (AMT) and have taxable income exceeding certain thresholds. This IRS form calculates whether you owe the AMT and, if so, how much. It also adds back some tax breaks you may have claimed on your original Form 1040 tax … Read more
Form 5471, also known as the Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is a tax return used by U.S. taxpayers who own shares in foreign corporations. The purpose of this form is to have a record of who owns a particular foreign company and to help the IRS prevent people … Read more
IRS Publication 1220 is an important document that covers Specifications for Electronic Filing of. Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G. It is a useful guide for business taxpayers and issuers to understand how to prepare and submit 1099 forms. It also includes guidance on how to file magnetic media formatted files with … Read more
The AFR is the minimum interest rate lenders can charge on private loans. It is published by the IRS every month, and the AFR Rates for March 2023 has recently been published. AFR rates vary based on the loan term and the compounding frequency. They are also subject to flexibility due to market conditions. AFR … Read more
The Senate Calendar is a series of publications prepared under the direction of the Legislative Clerk that provides an inventory of bills and resolutions that are eligible for consideration by the Senate. This collection is updated each day that the Senate is in session. It identifies measures awaiting Senate floor action and provides sections for … Read more
Form 843 is a tax form issued by the Internal Revenue Service that allows a taxpayer to request a refund or abatement. Depending on the type of tax you’re claiming, you’ll need to fill in specific information. Not all IRS forms are filed to the same address. You may face penalties from the IRS if … Read more
If you’re a retailer in California, you’ll need to calculate the California sales tax rate. This is the sum of the state and district tax rates. The tax rate can vary from one district to another, so it’s important to know which district to focus on when calculating the tax in California. The State of … Read more