All you need to know!! Many lawmakers are pushing for a fourth round of Stimulus Checks, but President Joe Biden has not yet shown any support for it. Approximately 24+ Senate Democrats sent a letter to President Joe Biden on March 31 2021 urging him to implement recurring payments and automatic unemployment insurance tied to …
Typically, penalties are calculated based on tax owed, international information returns, such as from 8938 can cost a taxpayer, if filed late, large penalties even of no tax is due. Some related penalties can reach up to $10,000 per form per month. Filing Form FinCEN 114 late or incorrectly can also result in hefty penalties. …
I don’t need to worry about penalties for late filing because I never owe any U.S. tax. Read More »
For foreign earnings, an overview of the taxation. With the bit of time of professionals or taxpayers to prepare for them, the tax code’s tax jobs and cuts introduced many changes. The revision of internal revenue code section 965, one of the most complex changes involved in it, maintains the United States taxes earnings from …
