The United States government and the IRS offer plenty of opportunities and convenience to taxpayers. You can even file a tax extension on time to enjoy a six-month extension. However, it is worth noting that this extension is only offered for the filing deadline and not your payments. Unfortunately, you cannot file a tax extension … Read more
The Employer ID Number is a unique set of numbers that can be perceived as the social security number of businesses. You can see the Employer ID Number under different names, like EIN, Federal Tax Identification Number, and Federal Employer Identification Number. The EIN consists of nine digits and is the most important number for the Internal Revenue Service to identify businesses. Every … Read more
If you are running a business and you have a partner, then you might already hear about Schedule K-1, which is also known as Form 1065. This form allows you to report the share of your partner’s profits, credits, deductions, or losses. As usual, the form allows you to report all these to the IRS … Read more
If you are running a business in the United States, then you have probably heard about the 7004 form before. This is one of the practical forms that are quite helpful for business owners in their taxing operations. Every year, the forms required and published by the IRS change, and if you are planning to request an … Read more
1042 form is one of the forms that you need to file as a foreigner working in the United States. This form is regarded as the foreign person’s source of income subject to withholding. This form is often used by foreigners working in the United States when they are taxed on their accounts. However, unlike citizens of the United … Read more
If you often use credit cards while shopping, it may be good idea to learn more about the cash back system. Cash back on a credit card allows you to enjoy added value from the purchases you make with your credit card. Not all credit card issuers provide this opportunity, but most of them offer cash back or … Read more
Form 1040-V payment voucher is one of the must-know statements for any citizen in the US. This is one of the core statements in trade, and thus, we have compiled a comprehensive guide for our readers to fully inform them. In the following sections, you can learn every single detail you need to know. How to … Read more
Family and Medical Leave Act allows employees to go on unpaid, job-protected leave for up to 120 days during a calendar year for certain emergencies. Employees must file the corresponding FMLA form that applies to the reason for the leave and submit it to their employers. Some forms also require the employee to present the … Read more
Form 540-2EZ is the simplified version of the original Form 540, California state income tax return. If you remember Form 1040-EZ, Form 540-2EZ pretty much has the same logic behind it. Taxpayers that have a simple tax return don’t need to file the rather more complicated Form 540. It’s most suitable for taxpayers that have … Read more
Like federal taxes, taxpayers in California that have self-employed income must estimate how much they owe for every quarter and make their payments accordingly. Form 540-ES is a California state tax form for estimating and paying state for self-employed individuals. This is directly tied to your state income tax bill and each payment should be … Read more