business
What do you need to know about Form 5472?
About Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Corporations fil...
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business
Is SSN required for child tax credit?
The child must have an SSN to be a qualifying child eligible for the child tax credit (CTC) or the additional child tax credit (ACTC). To be a qualifying ...
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arts
How do I get a 1099 G form from DC?
You’ll need to contact the issuer of Form 1099-G — probably the DC Department of Employment Services, if the form reflects unemployment — to get the infor...
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culture
Can husband and wife have different residences?
Many taxpayers are surprised to learn California even allows separate residency status for spouses. But in fact, there is no such thing as “marital” resid...
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technology insights
Does CRA share information with other countries?
The CRA will exchange this information with foreign tax authorities from countries with which Canada has an agreement. Reportable accounts held by US Pers...
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technology insights
What happens if IRA beneficiary is deceased?
If a primary beneficiary dies before the IRA owner, she generally ceases to be a beneficiary and the assets would be divided among the remaining surviving...
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technology insights
How do taxes work when working remotely in a different state?
In general, if you’re working remotely you’ll only have to file and pay income taxes in the state where you live. So when you live in your resident state,...
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local updates
Do I need to file 1099 K?
The IRS requires each payment settlement entity to send you a Form 1099-K by January 31 if it has processed at least $20,000 worth of payments and at leas...
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arts
How long do injury settlements take?
Half of our readers resolved their personal injury claims within two months to a year, while 30% of readers waited over a year for their cases to be resol...
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business
Does a 501c3 expire?
In other words, there is no expiration date on a 501(c)(3) organization. However, there are other actions that need to be taken to maintain its tax-exempt...
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