Need to Know How Getting Married Affects Your Taxes – Etax1040s

If you are getting married, you need to know about the taxes too as knowing the tax consequences of marriage is important. In this article, we can check a few of the basic tax considerations for the newly married couples. Change Name and Address : If you filing your income tax return, the name and Social Security Number on the form must match with the records at the Social Security Administration (SSA). When you change your name...

Difference between Nonprofit and Tax-Exempt Status

The terminologies “Nonprofit” and “Tax Exempt Status” used to define the professional and trade associations is often confusing. It is necessary to clarify both of the two key terms. Organizations are usually controlled and operated as both tax-exempt and non-profit entities. The status of the non-profit refers to the incorporation status under the law of the state, and the tax-exempt status states to the federal income tax exemption under the Internal Revenue Code (IRC). What are the Differences between...

Best Ways to Correct your HVUT 2290 Form Errors

It is always a better chance to go back and correct an error when you find anything is wrong. However, we hardly find a chance to correct the mistakes and this is applicable to every situation. The Trucking Industry is one of the busiest industries in the country and the truckers are in a hurry with their work. Hence, there are high chances for mistakes to happen while filing their Form 2290 to the IRS. The Internal...

Need to Know about IRS Combined Federal/State (CF/SF) 1099 Filing

There are a few number of selected states that allows the IRS to transmit the 1099 information automatically to them once it is been filed. This service is available only with the electronic filing method. Electronic filing is not simple as emailing to the IRS, it requires the certain process to be completed. Initially, you need to apply and become approved by the IRS to submit the forms to the FIRE system. Who can do combined federal...

Due Dates for Filing LLC and Partnership Tax Returns in 2019

The due date for Single-member LLC returns on Schedule C is 17th April 2019 and the due date for partnership returns with Schedule K-1s is 15th March 2019. Extension for Single-member LLC’s is until 15th October 2019 filed along with personal tax return and the extension deadline for partnership is 17th September 2019. Changes in the Return Due Dates for Partnership From the 2018 tax year, which is to be filed in 2019, the partnership tax returns are filed...

You Need to Know Form 2290 Filing Penalties

As you all know that filing Form 2290 annually is a mandatory process if you own a heavyweight vehicle with gross weight more than 55,000 pounds and uses the public highways for transportation. But you need to e-file the Form 2290 on time before the due date. When you miss to e-file the HVUT tax or e-file the form 2290 lately, you will attract the IRS penalties. IRS tax terminology may be complex and confusing, but the...