Uncategorized | E-file.com

If a taxpayer works overseas, do they pay federal taxes on the income? What forms need to be completed?

Whether you are only spending six months or spending several years working abroad, as long as you remain a US citizen, you must still file a U.S. federal tax return, and in most cases, pay income taxes on the money you earn while abroad.

Are all state filing laws the same as federal laws? How do I find out the laws in my state?

Most states that require a tax return will mimic the federal deadline to file, April 15th, and also the deadline after an extension has been filed, October 15th, however, there are a few states that use different due dates like Hawaii, Indiana, Iowa and Louisiana, so it is very important that you check with your state.

Are my tips considered earned or taxable income? What if I forget to report some of them?

Tips are optional or extra payments given to an employee from a customer. The IRS treats tips the same as wages and other forms of income. Failing to report this or under reporting this may be handled similarly to other forms of tax evasion.

Significant Tax Perks for Owners of Rental Properties

If you’re a landlord of one or more rental properties, chances are you’ve experienced a small headache or two. While being a landlord can come with hassles, it can also include significant tax perks which can help to deliver more bang for your buck than other investments.

Things to consider when filing your taxes this year

After filing electronically, it is important to watch for email notifications and/or return to the software program to ensure the filing was accepted.

Cashing in on Life Insurance? You are Still Subject to Taxation

The 2017 Tax Cuts and Job Act included revisions designed to create financial options for millions of Americans with life insurance policies.

Should you continue to itemize or go with the standard deduction now?

For the 2018 tax year, following the Tax Cuts and Jobs Act of 2018 the IRS will reduce the types of allowable deductible expenses for itemized tax returns.

Want Your Tax Refund Fast?

Maybe you don’t look forward to doing your taxes. However, if you are one of the millions of Americans who expects a tax refund, you are most likely looking forward to receiving it.

What the New Tax Laws Mean for Divorcing Couples

Divorce is not a pleasant subject to contemplate, and the impact of divorce on your taxes can add further complexity to situations that are already daunting enough.

Who, Why, and How Much? The Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is not one of the tax code’s best-understood provisions, but it is one that can be of benefit to a large portion of the American populace.