What does the IRS do to encourage compliance with tax laws?
The Automated Substitute for Return program (ASFR) enforces tax compliance for individual taxpayers who have not filed tax returns, but whose available in...
Category: Updates
Is there a tax credit for dependents over 18?
How can dependents between ages 18 and 24 qualify? If you have 18-year-old dependents, they can qualify for up to $500 each toward the child tax credit am...
Do you pay taxes when you sell a life insurance policy?
You Sell the Life Insurance Policy Fortunately, the IRS doesn’t treat any portion of what you receive for a viatical settlement as taxable. Under IRS code...
Can a loss be carried forward to a subsequent year?
In the subsequent years(s) such loss can be adjusted only against income chargeable to tax under the head “Income from house property”. Such loss can be c...
Will Mass Save have rebates in 2021?
Customer Eligibility: You must be a residential natural gas heating customer of Berkshire Gas, Eversource (MA Only), Liberty (MA Only), National Grid (MA ...
Do you get the interest back on taxes for mortgage?
Taxpayers can deduct the interest paid on first and second mortgages up to $1,000,000 in mortgage debt (the limit is $500,000 if married and filing separa...
How many hip operations go wrong?
Hip replacement surgery is done in an ultra-clean operating theatre and antibiotics are given during the operation. But in less than 1 in every 100 operat...
What are jurisdiction limits?
What does “jurisdictional limit” mean? So, if the jurisdictional limit of your insurance policy is “worldwide excluding USA and Canada”, it means the poli...
What happens if a company missed payroll?
What is the penalty if a company in California is late in paying its workers? If an employer cannot justify not paying an employee on his/her regular payd...
What is advance assessment in taxation?
Advance tax: You need to pay advance tax if you are a salaried taxpayer with other sources of income like interest on deposits and your tax liability for ...
