WHAT IS AN ITIN?
“ITIN” stands for “Individual Tax Identification Number,” and is a United States tax processing number issued by the IRS. The IRS issues ITINs to help individuals comply with the U.S. tax laws, and to provide a means to efficiently process and account for tax returns...If I forgot to report a second income on my taxes, how can I report it now?
Since it is not a small change (missing form or math miscalculation), missed income probably requires that you file an amendment. You’ll need to file Form 1040X, Amended U.S. Individual Income Tax Return. Additionally, if any changes you are making need forms or...How are my taxes impacted if I have filed bankruptcy?
Depending on which Chapter you filed for, taxes may not be exempt. With Chapter 7 bankruptcy, federal taxes are exempt from discharge. When filing Chapter 13 bankruptcy, it is very important to file and pay your taxes during the bankruptcy proceedings because the...What tax consequences will I face if I lost my home in a foreclosure?
For federal taxes, a foreclosure is viewed as the sale of property. Two separate matters will impact your tax liability: any gain from the sale of your property and credited income you receive from any debt forgiveness. There are ways to calculate your Gains and...Lorem Ipsum is simply dummy text of the printing and typesetting industry. dummy text of the printing Ltting industry.
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