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What is fair market value of clothing?
According to the Internal Revenue Service (IRS), a taxpayer can deduct the fair market value of clothing, household goods, used furniture, shoes, books an...
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What happens if you do not file 2018 tax return?
If you did not print and mail the federal tax return then the return was never filed. A 2018 tax return can only be printed and mailed, it cannot be e-fil...
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Can H1B visa holders invest in stocks?
An H-1B visa holder is perfectly eligible to do stock trading in the U.S., provided he has a Social Security Number (SSN) or Individual Taxpayer Identific...
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What are the liabilities of partners in a partnership?
Partners are ‘jointly and severally liable’ for the firm’s debts. This means that the firm’s creditors can take action against any partner. Also, they can...
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Can I work in Dubai as a Canadian?
As a Canadian, you can easily get a job in Dubai based on your expertise and experience. The employers are more concerned about your educational and profe...
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How long does it take to process 1040 NR?
We need more than 21 days to process a 1040NR return. Please allow up to 6 months from the date you filed the 1040NR for your refund. How long does it tak...
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What happens if you put the wrong amount on your tax return?
If you made a mistake on your tax return, you need to correct it with the IRS. To correct the error, you would need to file an amended return with the IRS...
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When did you become a citizen of Germany?
Children born out of wedlock to a German father after July 1, 1993 acquired German citizenship if (among other requirements) paternity had been establishe...
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How much can I earn if drawing SS?
Starting with the month you reach full retirement age, there is no limit on how much you can earn and still receive your benefits. Beginning in August 202...
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Who has to file a form 5471?
Officially known as Form 5471, Information Return of US Persons with Respect to Certain Foreign Corporations, this form is required along with your expat ...
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How to become a permanent resident of the United States?
Learn how to get a Green Card to become a permanent resident, check your green card case status, bring a foreign spouse to live in the U.S. and what docum...
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Why is my stimulus check being mailed when they have my bank info?
If your bank information is invalid or the account has been closed, the bank will return your payment to the IRS and we will mail it to you by check at th...
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Why is my ATO refund taking so long?
Why there may be a delay in processing your tax return Although most tax returns lodged online will be processed in two weeks, some tax returns may take l...