In the United States, if the income reaches a certain level, it is necessary to prepay some taxes to the government in the current month or quarter. Penalties will apply if taxes over $1000 are not prepaid. Therefore, the entry of a full-time job often starts with filling out the W-4 form, which is the calculation and signing form specially

Form 1099 is an income summary form given to you by an individual or organization, with the tax ID number of the issuing organization and the SSN of the recipient (you). When a company, organization or someone else gives you a 1099 form, it means that they have also reported to the IRS the behavior and amount of money they

IRA stands for Individual Retirement Account, the full name is Individual Retirement Account, also known as traditional IRA. This is a savings retirement plan that you create, fund, operate, and withdraw completely by yourself. It is characterized by: ​ No need to go through the employer: IRA only needs you to decide to open the plan, and you can go

What to get notified from the IRS？ ​ The IRS will send a notice or letter when: you have a balance due; You will get a higher or lower tax rebate than stated on the tax return; The tax bureau has questioned the tax return; The tax office needs to verify your identity; the tax office needs more information; the

The form in which tax records are stored？   Storage of tax records (including, for example, bank statements, tax returns, insurance policies, etc.) can be achieved by means of scanning, electronic documents, cloud backup, etc. ​ How long tax records need to be stored is sufficient？ ​ Federal law requires keeping copies of tax returns and supporting documents for three

Why do I need to file a tax return?？ No matter which country you are in, every resident has the obligation and responsibility to file tax returns. In the United States, tax filing is closely related to renting a house, loans, social benefits, entering a higher school, applying for status, and even finding a job. For example, during the epidemic