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TN Visa Health Insurance and Penalty?
If I worked with TN Visa in the USA last year, Am I eligible for a penalty if I did not have a health insurance?
Tax Scams Are Up 400%
Phishing and malware incidents are up 400% this tax season, according to the IRS, as more and more people receive official-looking emails from fraudsters purporting to be from the IRS or other tax-related entities, including software companies.
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Deductions for a New Vehicle
To enter personal property tax or sales tax paid on a new vehicle:
1.From within your TaxAct® return (Online or Desktop), click on the Federal tab. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
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◦To enter sales tax paid, continue to the screen titled Itemized Deductions – Optional State Sales Tax
◦To enter property tax paid, continue to the screen titled Itemized Deductions – Personal Property Taxes
3.The program will proceed with the interview questions for you to enter or review the appropriate information
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Rules are different when you’re refinancing the mortgage on a property you use to generate rental income. Rent you receive from tenants is taxable income, and you must report it on your tax return. However, money you spend to generate that income can usually be deducted from your rental income. So you can deduct not only the interest and points paid on a mortgage on rental property, but also all closing costs and fees. (Learn more about tax deductions for rentals with
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Every taxpayer with US filing obligations, whether in the form of a tax return, a declaration of estimated tax payment or an informational disclosure, must be identified by a taxpayer’s identification number. Typically, such identification number is an individual’s social security number. If an individual is not eligible for a social security number, he or she can apply for an individual taxpayer identification number ITIN.
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The known damage caused to our finances by the falling dollar includes more expensive costs for groceries and other goods, plus killer foreign-exchange costs when visiting the United States.
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NEW IRS RULES FOR Individual Taxpayer Identification Number (ITIN) APPLICATIONS:
Individual Taxpayer Identification Number (ITIN)
Persons not eligible for a Social Security Number (nonresident aliens and others not entitled to work in the United States) who file U.S. returns should apply for an Individual Taxpayer Identification Number (ITIN) by filing form W-7. An application for an ITIN will not affect the individual’s current or future immigration status in the United States.