If you drive a large truck, then you will have to learn about IRS tax form 2290. But what is IRS tax form 2290 exactly? This is a tax levied on all vehicles with a gross weight of over 55,000 pounds.
Are you having difficulty understanding the IRS Form 8379 when it comes to the Injured Spouse Tax Relief?
You’re probably facing this new challenge because of an unexpected problem…
Everything seemed to be going well with your tax preparation this year until you were unexpectedly told you would not be receiving your refund.
In fact, you would end up giving the entire refund to the IRS for a particular issue unknown to you.
Once you contacted the IRS you learn that your spouse owes money towards a delinquent student loan payment and now the money you were depending on has vanished…
…or so you thought.
The IRS needs a current address to send you any refunds and correspondence. It can take up to 6 weeks to process a change of address. Most people use IRS Form 8822 to change their address, but there are a couple of other methods too.
If you move after you file your taxes, you’ll need to complete the IRS form. If you move before you file your taxes, your new tax returns will reflect the new address, but you must take other precautions too.
If you registered your business as a corporation, the IRS automatically makes you a C-corp. This has many tax disadvantages, making it hard for small businesses to remain profitable. Fortunately, businesses can file IRS Form 2553 and choose to be an S corporation instead.
The largest benefit of filing as an S-corp is the tax savings. The shareholders bear the burden of the corporation’s net income, paying taxes at their personal tax rate rather than the corporate tax rate, which is 21% plus the personal tax rate of any earnings.
If you are the victim of identity theft, then it is important to inform the IRS of your situation. This will prevent people from filing a false tax return with your name. With IRS Form 14039 – Identity Theft Affidavit, you can alert the IRS and protect yourself from tax identity theft.