Category: TAXES

Photo Courtesy: mapodile/iStockPhoto The IRS 1040 Form is the U.S. Individual Income Tax Return. This Form, published and updated by the IRS, is a central piece in filing your annual income taxes. Anyone who files taxes uses some version of Form 1040. The form helps taxpayers understand what documents they need to calculate their taxes […]

Photo Courtesy: mediaphotos/Getty Images Each year, as W-2 forms start arriving in the mail and accountants find their schedules booked, millions of Americans have income taxes on their minds. Self-employed individuals might wonder if they’ve paid enough quarterly taxes. Employees might worry whether they calculated deductions on their W-4s correctly. Beginning investors might have concerns […]

Photo Courtesy: RichVintage/iStock We know how it is. After the joy of the winter holidays, tax season probably isn’t the exciting followup you’re in the mood for. But when you know more about what to expect from the filing process, tax season suddenly becomes a little less stressful. Understanding new changes can help you get […]

Photo Courtesy: [Drakula & Co./Getty Images] As businesses are scaling down and resizing following the COVID-19 pandemic, the gig economy is exploding as many of us turn to freelance work and independent contracting. In a gig economy, temporary and flexible jobs are commonplace. To reduce and streamline expenses and mitigate time and resource waste, businesses […]

 Photo Courtesy: [FG Trade/Getty Images] In the United States, every working person who earns a certain amount of money each year needs to pay income taxes to the federal government. Not everyone pays the same amount, though; the U.S. uses a progressive tax system, wherein taxpayers will owe more money to the Internal Revenue Service […]

Photo Courtesy: Jose Martinez Calderon/iStock People creating, buying and selling non-fungible tokens (NFTs) in the United States might soon be forced to disclose information about their business partners. This is due to an existing tax law that requires them to file their transactions with the Internal Revenue Service (IRS). Traditionally, the tax law code named […]

 Photo Courtesy: shapecharge/Getty Images Even for experts, taxes can get complicated — so you’re not alone in feeling a bit of apprehension over making sure you file everything correctly when tax time rolls around. In fact, taxes’ reputation is so well known that even the Internal Revenue Service (IRS) — the government agency that’s responsible […]

Photo Courtesy: damircudic/iStock Whether you’re applying for a new apartment, starting at a new job or opening a bank account, you usually need to provide your IRS tax identification number. But what exactly is that? And what do you do if you don’t know yours? Fortunately, you do have some options. If you want to […]

 Photo Courtesy: FG Trade/Getty Images Feeling a little apprehensive about tax time? You’re not alone. Filing taxes isn’t exactly a process with the best reputation around — but you’ll be happy to know that the IRS has taken a number of helpful steps to make the task far less stressful. Whatever your financial situation might […]

Photo Courtesy: vitapix/iStock 1040, W-2, 1099 — there are quite a few tax forms that most of us have heard of (or have had to file!) at least once in our lives. But for every familiar form you regularly submit, there are dozens more that you might not have encountered just yet. Form 1096 is […]