When tax season is coming, we know that we should keep our money to pay our IRS debts. Paying our taxes is a responsibility that we have as citizens and we must comply with our tax liability. Owing money to the IRS may become a situation that would affect our
Throughout our lives, and depending on the jobs we have, we contribute to Social Security aspiring for benefits when we are seniors. Thanks to all the work we did in our youth, we will receive our retirement benefits. However, a very common question is whether we should pay taxes on
In all the countries of the modern world, taxes have been created as a form of income to the State, and for this purpose, governments should create an institution so they can administer this central activity. In our country, this institution is called the Internal Revenue Service (IRS), in addition
Currently, there are a large number of websites that offer tools from calculators that help you estimate how much you could pay in taxes, to more specialized software services that provide you with personalized advice to fill out your tax returns. Intuit is a financial software company and one of
Escrow accounts are very helpful for homeowners to set aside some money every month to pay property taxes and other insurance premiums. Since it’s challenging to arrange a bigger amount at once, escrow accounts act as money-savers, and mortgage lenders use this money to cover all such payments. But, what
Estimating payroll taxes is a complicated and detailed process as there are many federal and state taxes that may apply to an employee’s paycheck. Also, some taxes are paid by the employee, some by the employer, and others are shared by both. Payroll taxes usually consist of federal and state
The Internal Revenue Service (IRS) is the governmental entity in charge of managing taxes in our country, for that reason they are the institute with the faculty of indicating which are the due dates for tax payments that correspond to us citizens. It is important to remember that although the
One of the most common questions the majority of new employees ask is, “what percentage of my paycheck is withheld for federal tax?” With taxes lurking around, everybody is interested to know how much money they are actually making and what amount they will be left with after paying all
The IRS is sending millions of stimulus checks, and one may be headed your way. A lot of Americans have received their three stimulus checks. If the eligible persons have not received their 2020 stimulus check, they will receive the cash in Recovery Rebate Credits. Knowing your eligibility can help
Your incapability to pay for the child support tax can compel the enforcement agency to seize your tax refund. It means that the child support will collect your unpaid taxes from the Internal Revenue Service (IRS) to cover the arrears. If you are facing the same, you have two options. You