WASHINGTON — The Internal Revenue Service today announced important changes to help taxpayers comply with revisions to the Individual Taxpayer Identification Number (ITIN) program made under a new law. The changes require some taxpayers to renew their ITINs beginning in October. READ MORE NOW
The Federal Insurance Compensation Act imposes a tax on employers and employees in equal amounts to provide funding to the federal government in support of the Social Security and Medicare programs in the United States. Self-employed individuals must pay the entire tax themselves.
(Bloomberg) The U.S. Chamber of Commerce challenged an Internal Revenue Service rule change it claims improperly stymies the ability of U.S. companies to shift their headquarters overseas to shelter global profits from American tax collectors. READ MORE NOW
Many students get summer jobs. It’s a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs READ MORE NOW
Deadline Update: Form W-2 is due to the Social Security Administration on January 31, 2017, instead of February 28, whether you file electronically or by paper. (If you file 250 or more forms, you must file electronically.)
(Bloomberg) Facebook Inc.’s future cash flows and results could suffer a major blow if it loses a battle over new U.S. tax liabilities related to the transfer of its global operations to Ireland in 2010. READ MORE NOW
Your insurance premiums are not tax deductible except under special circumstances. You do receive other tax benefits as a homeowner, but they are not related to homeowners insurance. If you’re a landlord or a homeowner who uses part of your home for business purposes, you may be able to deduct a portion of your homeowners…