Federal tax is the tax imposed by the U.S. government on individuals’ and businesses’ income, as well as on other specific activities, such as selling property or earning capital gains.…
State tax is the tax imposed by individual states in the U.S. on income, sales, and other activities within that state. Every state has its own tax system, which may…
If you’re a U.S. taxpayer with financial accounts or assets outside the United States, you may need to comply with two important reporting requirements: FBAR (Foreign Bank Account Report) and…
An ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the IRS to individuals who need to file a U.S. tax return but are not eligible for…
A tax amendment is the process of correcting or making changes to a previously filed tax return. If you realize there were mistakes or omissions in your tax filing, you…
If you’re unable to file your tax return by the regular deadline, you may qualify for a tax extension. A tax extension gives you extra time to submit your return,…
