local updates
What is the penalty for filing business taxes late?
How much will I be penalized if I file my small business tax return late? If you owe tax and you file your return late, the CRA will charge you a late-fil...
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global news
Can a 18 year old file taxes independently?
Your 18 year old cannot claim himself. The IRS rule is if he CAN be claimed on another person’s return he cannot claim his own exemption. If your dependen...
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technology insights
Are legal settlement fees tax deductible?
The costs associated with hiring attorneys, defending a case, and paying for damages or a settlement can be exorbitant, and damage a company’s profitabili...
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education
Can you be a contractor and a subcontractor?
Subcontractors can be anything from an individual self-employed person – eg a plumber carrying out work for a building contractor – to a large national or...
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culture
How do I find out if the IRS received my tax return?
Find out if Your Tax Return Was Submitted Using the IRS Where’s My Refund tool. Viewing your IRS account information. Calling the IRS at 1-800-829-1040 (W...
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local updates
What is the maximum passive income a taxpayer can have to qualify for the 2018 earned income credit?
Maximum claiming amounts vary by family size. For those with three or more children, the maximum earned income tax credit for 2018 is $6,431. Families wit...
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technology insights
How can I change my income tax ID password?
Step 1: Go to the e-Filing homepage and click Login. Step 2: On the Login page, enter your User ID and click Continue. Step 3: On the Login page, select S...
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science
How do I file taxes without logging in?
The feature enables e-verification of income tax return or ITR without logging into the e-filing portal…. Generate Aadhaar OTP. Existing Aadhaar OTP. Exis...
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science
Do you have to file your taxes every year?
The law requires you to file every year that you have a filing requirement. The government can hit you with civil and even criminal penalties for failing ...
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environment
What are the new laws in Virginia starting July 1st 2021?
Starting July 1, adults age 21 and older can possess and cultivate small amounts of the drug. Adults may legally possess no more than one ounce (28.3 gram...
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