What Is Tax Withholding?

Things You Need To Know About Tax Withholding An employer deducts/withholds a certain amount of salary from the employee as income tax; the same amount would be deducted from the Paycheck and remits the same to the state, federal, or local tax administration. This amount which has been deducted or withheld is termed as Tax […]

Who Can File Form 1099-B?

1099-B form is issued by brokers and barter exchanges which states the Proceeds from Broker and Barter Exchange Transactions. It is an Internal Revenue Service (IRS) tax form. All the gains and losses of broker and barter exchange transactions are listed in this form. All the Broker and Barter exchanges must mail this form by […]

Gambling Winnings Tax

Are Gambling Winnings Taxable? Playing gambling in the United States is legal, while playing gambling you should make a note of the transactions, gambling winnings must be reporting the income to the Internal Revenue Service (IRS) and based on your eligibility of Itemized Deductions you can deduct gambling losses up to the gambling income. You […]

Tax Benefits For H1B Visa Holders in USA

Income Tax Benefits Information for H1B Visa Holders in USA H1B Visa Holders in USA do find difficulty in knowing about their eligible deductions and credits, having better understanding about credits and deductions will possibly reduce your tax liability and increase tax refunds. There has been much efforts from our side helping all H1B and […]

What If I Don’t Have All My W-2 Forms?

What If I Don’t Have All My W2 Forms? Most of the Americans do not have a basic knowledge about the tax return. To avoid any kind of tax-related issue, it is better to have some basic knowledge about the tax return. It is required by the IRS employers to report wages and some information […]