Category: Forms
How to File Form 5471 for U.S. Expats with Foreign Corporations
Jul 15, 2024
If you are a U.S. citizen or resident involved with a foreign corporation, you may need to file IRS Form 5471, even if the corporation has no U.S. source income or establishment. This…
FBAR Filing — a Guide to Reporting Foreign Accounts for U.S. Expats
Jul 12, 2024
For U.S. expats, managing tax obligations can be particularly challenging, especially when it involves foreign financial accounts. The Foreign Bank and Financial Accounts Report (FBAR) filing, or FinCEN Form 114, is a crucial…
How to Report Profit or Loss from Business with Schedule C Form
Jun 24, 2024
Running a business involves managing a packed schedule. Tax season adds to the workload with extra paperwork. If you’re among the ten percent of self-employed U.S. taxpayers, you might need to prepare a…
How to Fill Out the New IRS Form W-4
Jun 11, 2024
If you’ve ever started a new job, you’ve probably filled out an IRS Form W-4 or the Employee’s Withholding Certificate. It’s a document that tells your employer how much federal income tax to…
How to Report Cash Payments Over $10000 with IRS Form 8300
May 17, 2024
Despite the rise of electronic payments, cash transactions persist in business. While they offer convenience, they present challenges during tax preparation. The IRS is cautious because verifying them is more challenging, and there…
How To File a Tax Extension with Form 4868
May 02, 2024
If you’re having trouble meeting the tax filing deadline, you can fill out Form 4868 to ask for an extension. This form lets you push back your federal income tax return deadline until…
IRS Form 944: How to File When Your Business Owes Less
Jan 25, 2024
When it comes to running a business, staying on top of your tax responsibilities is crucial. If you’re a small-scale employer, chances are you might be familiar with IRS Form 944, also known…
IRS Form 1040-X: How To Correct Mistakes on Previously Filed Return
Jan 12, 2024
Tax filing can be a perplexing time for many Americans, and sometimes, despite your best efforts, mistakes happen. If you’ve filed your taxes and then realized you made a mistake, don’t fear. The…
Your Easy Guide to IRS Form 8283: Simplifying Charitable Donations for Tax Deductions
Nov 20, 2023
Supporting charities can be immensely rewarding, not just for the positive impact it has on communities and causes but also for the potential tax benefits it offers. When making charitable donations, ensure you…
Emerging Debt-Free: What You Need to Know About 1099-C Cancellation of Debt Form
Oct 20, 2023
Borrowing money through credit cards or loans can offer financial relief and opportunities. But what happens when you can’t repay that debt? In such cases, creditors might cancel the debt and issue a…