education and learning
How long can you postpone Social Security benefits?
Now one thing you should know is that the SSA will pay you up to six months of retroactive benefits if you file past the age of 70. For example, if you fi...
Category: Education And Learning
education and learning
What does it mean when your state taxes are accepted?
Accepted means your tax return is now in the government’s hands and has passed the initial inspection (your verification info is correct, dependents haven...
education and learning
Where do I find my Schedule K?
Where can I find a sample K-1 tax form? You can download a sample copy of Schedule K-1 (Form 1065) from the [). But you’ll probably receive a copy of Sche...
education and learning
Are loans to nonprofits tax deductible?
The exception: individuals can make up to $250,000 in interest-free loans to nonprofits (qualified 501(c)(3)s) each calendar year without the above applyi...
education and learning
When does the IRS send an identity verification letter?
The letter is issued by the employer, a bank or regulating authority such as the IRS. It is important to know that the identity verification letters sent ...
education and learning
How can I check my 2018 tax return?
It’s available on IRS.gov and through the IRS mobile app, IRS2Go. E-filers can use “Where’s My Refund?” to check the status of a return within 24 hours af...
education and learning
Why is Social Security not welfare?
Social Security is mainly a means of insuring against economic risk. It is fundamentally an insurance program, not a saving program, and as such it is not...
education and learning
Can a spouse claim an exemption on their tax return?
If you and your spouse are married filing jointly, you can claim one exemption for your spouse and one exemption for yourself. If you’re married filing se...
education and learning
Where do I get a sellers permit in NC?
A North Carolina Sellers Permit can only be obtained through an authorized government agency. Depending on the type of business, where you’re doing busine...
education and learning
Who gets Form 1042?
A 1042-S is a year-end federal tax document given to a non-resident alien who: Received wages exempted from federal and state tax withholding by a tax tre...
education and learning
What are the rules for required minimum distributions?
Your required minimum distribution is the minimum amount you must withdraw from your account each year. You generally have to start taking withdrawals fro...
education and learning
Where can I find the instructions for Form 1065?
For the latest information about developments related to Form 1065 and its instructions, such as legislation enacted after they were published, go to Sche...
education and learning
Does retirement count as adjusted gross income?
Gross income includes your wages, dividends, capital gains, business income, retirement distributions as well as other income. Adjustments to Income inclu...