Month: August 2024
IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year
Issue Number: IR-2024-225 WASHINGTON – The Internal Revenue Service today encouraged taxpayers to consider using…
IRS reminds taxpayers of important tax guidelines involving contributions and distributions from online crowdfunding
Issue Number: FS-2024-28 FS-2024-28, August 2024 Crowdfunding distributions may be includible in the gross income…
FORM W-9 : Your Essential Guide to IRS Compliance:
Follow Us : YouTube | Facebook | Linked In Businesses utilize IRS Form W-9 to…
IRS INTEREST RATE FOR 4TH QUARTER, 2024
Issue Number: IR-2024-220 WASHINGTON — The Internal Revenue Service today announced interest rates will…
Do you own a foreign life insurance? Have you taken care of these ? If not, ARE YOU OUT OF USA TAX COMPLIANCE?
Foreign life insurance policies generally complicate the USA tax return. There is no particular exemption…
Understanding How FIRPTA Works
FIRPTA Represents – Foreign Investment in Real Property Tax Act FIRPTA is a U.S. tax…
The Educator Expense Deduction can help offset out-of-pocket classroom costs
IRS Issue Number: Tax Tip 2024-66 The Educator Expense Deduction lets eligible teachers and administrators…
Taxpayers should review the education tax credits before they file
IRS Issue Number: Tax Tip 2024-67 There are two education tax credits designed to help offset education…
Employer-offered educational assistance programs can help pay for college
IRS Issue Number: Tax Tip 2024-68 An educational assistance program is an employer’s written plan…
Passive Foreign Investment Companies (PFIC): A Comprehensive Guide to Filing Form 8612 / PFIC Taxes.
Do you hold an investment in a foreign mutual fund? Watch out – it may…