Not all employers are required to file Form 941 for every quarter if the taxes withheld is less than $1,000 for the tax year. These employers can file Form 944 once a year and be done with this tax obligation – reporting payroll taxes. In a previous article, we’ve covered how you can file Form … Read more
Every tax season, one of the commonly heard terms is the information returns. Regardless of your income, you will need these documents to prepare and file your federal income tax return. The purpose of information returns is to report the income you’ve earned during the tax year. There are numerous information returns; not just a … Read more
Form 1099-R, Retirement Income, is the information return for retirees. All account providers send out this tax form to report withdrawals for that tax year, early withdrawal penalties, and anything else that’s related to retirement income. If you’re expecting a Form 1099-R from your account provider and haven’t received it yet, it’s best to contact … Read more
All paper tax returns must be sent to the right processing center. There isn’t a single mailing address for all tax returns and the destination of your return depends on your state of residence and whether or not you’re enclosing payment with the return. That said, make sure to mail your federal income tax return … Read more
Only preparing a copy of Form 1040 isn’t enough to complete your federal income tax return. There are plenty of tax forms you need to attach to Form 1040 every tax season. These tax forms give the Internal Revenue Service further information about your income other than what’s just reported on 1040. For example, you … Read more
Small business owners are aware that timely tax payments are required. It is essential to remember that there are different deadlines depending on the type of tax you are filing. These deadlines are related to your Social Security, Medicare, and withheld income taxes. Pay-as-you-go tax deadlines There are several important tax deadlines in the year … Read more
The Office of Personnel Management had a significant change amid the coronavirus pandemic in , where thousands of employees, including those that work for the Internal Revenue Service, were ordered to work from home. Fast forward to , there are plenty of open positions at the Internal Revenue Service where employees work entirely remotely or … Read more
On rare occasions, you might experience delays due to your payment. This can be your tax refund, advanced payments of certain tax credits like the premium tax credit, child tax credit, or any other. While you have not much control over when you’ll get your rightfully owned payments, the least you can do is to … Read more
Georgia has a gas tax that is among the lowest in the country, with a cost of only 16 cents per gallon for on-highway diesel fuel and $2.92 for regular gasoline. This is down from the national average of $3.08 per gallon and is the lowest in the country. The average price for a gallon … Read more
The Internal Revenue Service sends documents to inform taxpayers about certain things. One of the widely sent notices is the 1444-C. Though this is a simple document that lets you know your stimulus payment, many taxpayers wonder what to do with it. In this article, we’ll cover everything you need to know about IRS Notice … Read more