Fill out 1095-B Form to report minimum essential coverage to individuals covered and the Internal Revenue Service. It’s easy to complete Form 1095-B as you only need to enter information about the following. When filling out Form 1095-B, you might not have enough boxes for the 4th section. Staple as many forms as you need … Read more
Form 1099-NEC, or known as the Nonemployer Compensation, is an information return used for reporting income paid to freelancers and contractors or any other person you’ve made payments, but not an employee of yours. The business owners in California use this tax form a lot because the number of freelancers and contractors is among the … Read more
As someone filing taxes as a head of household, this automatically means you have an eligible dependent for tax purposes. Most single parents are eligible to file taxes as a head of household, but the other parent is probably not as far as if we’re talking about one dependent. Both parents cannot claim a dependent … Read more
The bank transfers are an everyday activity for most businesses. They make it easier to send and receive payments for business operations but how long a bank transfer take? It’s going to take depend on the type of bank transfer. For example, wire transfers made through non-bank money transfer services may complete the transfer immediately … Read more
The Internal Revenue Service has a few ways to measure a taxpayer’s financial situation. One of these ways is the adjusted gross income, enabling the IRS to understand your actual earnings appropriately. Undoubtedly, your gross income is the total amount you’ve earned, but what about that $5,000 IRA contribution you’ve made? Is that something that … Read more
The Amazon employs over half a million people. It makes up a significant chunk of workers in the United States, and it’s hard not to come to an Amazon job ad. Since there are many Americans and permanent residents who call Amazon their employer, their Forms W-2 raises a question. Unlike some large corporations with … Read more
A W-2 explanation is essential for anyone working for an employer. It will help you to know the information on the document, as well as how to correct any mistakes you make. This article will walk you through some of the most common mistakes to avoid on a W-2. Box 1 Box 1 on your … Read more
The IRS reject code IND-031-04 refers to a mismatch of prior year Adjusted Gross Income or PIN. If what entered doesn’t match the records, you’ll get the IND-031-04 reject code. What you need to do is check your AGI or PIN and enter it correctly. The Internal Revenue Service only needs either one so you … Read more
Form 1040-NR, US Nonresident Alien Income Tax Return is the tax form is the nonresidents’ federal income tax return. On how to file Form 1040-NR online for the taxes, we’ll explain it all in this article. If you’re a permanent resident holding a Greencard, you aren’t going to file a 1040-NR, instead, file Form 1040. … Read more
Both Individual Retirement Accounts and a 401(k) is a way to save up for the future. While anyone can open up an IRA and start contributing right away, the employer must offer 401(k) to the employee. In this article, we’ll explain whether or not you can contribute to both IRA and 401(k), go over the … Read more