technology insights
Does a partnership file a 1065?
IRS Form 1065 is an informational tax return filed annually to report the income, gains, losses, deductions and credits from the operation of a partnershi...
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Technology Insights
technology insights
Is receiving child support considered income?
According to the Internal Revenue Service (IRS), child support is not taxable as income to the recipient. This means the recipient gets the money tax-free...
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technology insights
Is a harassment settlement taxable?
No, recipients of settlements or payments related to sexual harassment or sexual abuse, whose settlement or payment is subject to a nondisclosure agreemen...
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technology insights
Does a deceased estate have to lodge a tax return?
You generally need to lodge an individual tax return for the deceased where they have earned income. Where this is the case you lodge a tax return for the...
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technology insights
Does the IRS know your date of birth?
The IRS relies on the information for your birth date from the Social Security Administration which is provided directly from their data base. If SSA reco...
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technology insights
How to fill out a Schedule C for a sole proprietor?
Schedule C (Form 1040) is a form attached to your personal tax return that you use to report the income of your business as well as business expenses, whi...
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When do you not have to pay taxes on withdrawals from an IRA?
Once you reach age 59½, you can withdraw money without a 10% penalty from any type of IRA. If it is a Roth IRA and you’ve had a Roth for five years or mor...
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technology insights
When is the deadline to file back taxes for 2020?
Tax Deadlines for 2021 and Back Taxes for 2019, 2020, 2018. The Tax Deadline to e-File 2020 Taxes is April 15, 2021. If you miss this date, you have until...
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technology insights
Who pays the PayPal transaction fee?
seller When completing a transaction through PayPal, the seller must pay a PayPal fee. The buyer isn’t forced to pay any fee. The fee the seller pays is c...
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technology insights
What happens to my 401k if I move abroad?
If you’re a nonresident with a 401(k) and are planning to return to your home country, you can cash out the account, roll it over into an IRA, or leave th...
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