An Employer Identification Number, or EIN, is a nine-digit number issued by the IRS and used by self-employed individuals for certain tax or business purp...

11 side hustles for full-time college students Tutor. This one can be easy since you don’t have to leave campus to do it. Sell your stuff and skills onlin...

Every month, the IRS publishes a list of current Applicable Federal Rates, which reflect market conditions. For example, in June 2018, the AFR for loans o...

Yes. You can file them separately. Although state returns can be e-filed with your federal return (or after your federal return has already been accepted)...

Employers are supposed to mail them out by January 31st. If you don’t receive it by early February, you should ask. The other form you are sure to receive...

Trusts are subject to different taxation than ordinary investment accounts. Trust beneficiaries must pay taxes on income and other distributions that they...

If your Box 1, W-2 amount is less than your salary, it is because you have pre-tax deductions from your salary under one or more employer plans. If you ar...

If it is willful, the penalty is the greater of $100,000 or 50 percent of the amount in the account for each violation. Does filing an FBAR trigger an aud...

For purposes of Sec. 199A, this includes officers of an S corporation and common law employees. Wages paid to statutory employees (on Forms W-2, Wage and ...

For pass-through businesses, the employee and employer portion of the Solo 401k contribution is reported on line 15 of Schedule 1. There is a direct conne...