data and analysis
What is NRA income?
Generally, NRA withholding describes the withholding regime that requires 30% withholding on a payment of U.S. source income and the filing of Form 1042 a...
Category: Data And Analysis
data and analysis
Are there Social Security benefits for spouse and children?
Social Security Benefits for Spouses and Children. A little-known feature of the Social Security system is that in addition to paying retirement benefits ...
data and analysis
Can a company continue to trade when in liquidation?
The short and sweet answer to this question is no, it cannot. Once the decision has been made to force a business into liquidation there is very little to...
data and analysis
Are veterans required to file taxes?
Military retirement pay based on age or length of service is considered taxable income for Federal income taxes, and most state income taxes. However, mil...
data and analysis
How long can an executor delay?
Depending on the circumstances you as executor may be advised to delay distribution to beneficiaries by six (6) months from the date of death to avoid per...
data and analysis
How can I check to see if the IRS received my 2020 tax return?
Find out if Your Tax Return Was Submitted Using the IRS Where’s My Refund tool. Viewing your IRS account information. Calling the IRS at 1-800-829-1040 (W...
data and analysis
Can I claim dependents with ITIN?
ITIN and Dependents When you file Form W-7 and your income tax return, taxpayers with an ITIN can claim dependents. The requirements to claim a dependent ...
data and analysis
How long has it been since I got my tax return?
It’s been 2 months since electronic filing and IRS website says it’s still being processed. What to do if you are still waiting for your tax refund? If yo...
data and analysis
What is the last date of income tax return 2020-21?
31st December 2020 What is the last date of ITR for AY 2020-21? The last day for filing Income tax returns for FY 2019-20 is 31st December 2020 for most o...
data and analysis
What is the difference between a trustee and personal representative?
If you create a trust, you name a person to be the “trustee” of the trust. The trustee is duty bound to follow the instructions in the trust instrument an...
data and analysis
How can I track my W-2 in the mail?
Tracking Down a Lost W-2 Contact your employer. Ask whether and when the W-2 was mailed. Contact the IRS. If you do not receive your W-2 by February 16, c...
data and analysis
Do you have to pay yourself if you are an S Corp?
The IRS requires S Corp shareholder-employees to pay themselves a reasonable employee salary, which means at least what other businesses pay for similar s...
data and analysis
What would you need to start a savings account?
Checklist: What you need to open a savings account Government-issued ID: A driver’s license or passport. Social Security Number: Some banks will accept an...