Form W-9 is mandatory when requested as the requester needs your taxpayer identification number to file the necessary tax forms. When this demand is not met, there are penalties. Get the most recent Form W-9 for 2023. These penalties are mostly a one-time monetary fine that can further be more than just that. This article … Read more
Form 2441—Child and Dependent Care Expenses. There is a tax credit for the expenses of the child and other qualifying persons. Those who file taxes as married filing separately cannot claim this credit though. Your filing status must be other than married filing separately. Form 2441 is used for figuring out the child and dependent … Read more
Menards is one of the biggest home improvement stores in the United States, with over 300 stores. The company employs more than 45,000 people, and as the company grows, so does the number of employees. If you’re looking to save money when you shop at Menards, rebates are a good way to go about it … Read more
The Medicare tax is a mandatory payroll tax that pretty much everyone working pays. It has a flat tax rate like the Social Security tax but at a lower percentage. The Medicare tax rate is 1.45 percent of the employee’s income in which the employer matches and pays the taxes to the Internal Revenue Service. … Read more
The government is considering a tax hike for millions of Americans, including the middle-class and lower-income groups. While most people oppose such taxes, some are concerned that they will increase prices. Increases taxes on millions of Americans If the GOP tax plan passes, millions of Americans will see increased taxes. The program is estimated to … Read more
Idaho ST-101, Sales Tax Resale or Exemption Certificate is the tax form for retailers use to claim exemption on the resale of items. In Idaho, all retail sales are taxable if a specific exemption doesn’t apply to the state or federal government. The sales tax exemption can be claimed if the buyer is an organization … Read more
Form W-3, Transmittal of Wage and Tax Statements is the tax form that reports the total amount of wages and taxes withheld from employees’ income to the Social Security Administration. The difference between Form W-2 and W-3 is that Form W-2 is filed for each employee and the W-3 is filed for all employees. The … Read more
Forms 2848 and 8821 are similar tax forms that serve different purposes. Form 2848, Power of Attorney and Declaration of Representative gives authorization to an individual to represent the person who filed it before the Internal Revenue Service. The authorized person must be an eligible person to practice before the IRS. Take note that this … Read more
Connecticut Department of Labor unemployment benefits can be filed online through the website of the department. File unemployment benefits online and get the extended benefits. You can also claim federal unemployment benefits or reopen a previous claim for unemployment benefits. All can be done through the Connecticut’s official DOL website. Here is what to do … Read more
Individuals, estates, and trusts can take the foreign tax credit using Form 1116. If any of these entities paid foreign taxes to a foreign country or US possession, the foreign tax credit can be claimed. In order for the taxpayers to take the foreign tax credit on their federal income tax returns whether it be … Read more