Almost everything around the world has been digitized. Be it sending money, receiving money, paying for bills, paying taxes, or even filing for taxes. And just like we have all embraced the other digitalization, why not file the tax returns too? E Filing the tax forms are much more convenient because of various reasons such...
Just like individuals and corporations, partnership firms and LLCs also have to file their income tax return in the US. And just like others, the IRS has prepared a separate tax form for them; that is, Form 1065. It is the most important annual tax form for every partnership firm and they must file it...
If you are residing in the USA or are running your company, then you must have heard about Form 1120. However, what becomes tricky here is the fact that there are various types of 1120. 1120-C, 1120-F, 1120-H, 1120-L, 1120-POL, and 1120-S are some of the examples. In this blog, we will be talking about...
Just like any other country, the USA is also strict about the timely submission of taxes and tax returns. This means that any individual, whether resident or non-resident, individual or corporation must fill the tax forms. However, it is not as simple as it sounds to fill out the tax or tax return forms because...
Schedule E is one of the many schedules and helps in explaining the supplemental income/losses occurred to an individual in the US. This schedule is filled and submitted along with Form 1040, used for Federal Individual Income Tax Return. Income or loss from rental real estate, estates, partnerships, royalties, S Corporations, trusts or residual interests...
The tax season is here, and if you own a USA corporation, then you must be aware of Form 1120. But the complexity arises when you realize that there are various 1120 forms and the requirements of all different. So, in this article, we will be covering what is Form 1120, who files it and...
Form 1099 B is one of the many 1099s by the IRS that businesses need to issue for voluntary tax compliances in the USA. This form is also known as Proceeds from Broker and Barter Exchange. As the name itself suggests, this form reports the transactions handled by brokers. This form records the capital gains...
Heard about a fee paid for being able to do business in a state? Maybe, yes. But ever heard about a fee paid for incorporating in a state regardless of doing business? In Delaware, people have heard about that too. And do not get confused about the word, “Franchise”. It doesn’t refer to the franchise...
Are you an independent contractor, working in the US, wondering why you have received a Form W 9? Before reaching out to the entity who has requested it, go through this article, and we are sure it will answer, if not 100%, then at least 99% of your queries. W 9 is a form requested...
If you are working in the US, then you must be aware of the IRS tax compliance requirements as well. And, if you are an independent contractor or someone who is working with one, then you should have the information about Form W-9. Knowing that there are various forms, it can get confusing to have...
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