By Brian Figeroux, Esq. For individuals who are not eligible for a Social Security Number (SSN) but need to file a U.S. tax return, obtaining a Taxpayer Identification Number (TIN), specifically an Individual Taxpayer Identification Number (ITIN), is essential. This process is particularly significant for non-residents, immigrants, and undocumented individuals, but it raises important questions […]
By Brian Figeroux, Esq. | Editorial Credit: sirtravelalot/ shutterstock.com The tax system in the United States recognizes the potential for inequity when one spouse bears undue liability for tax understatements or penalties caused by the other spouse. To address such situations, the Internal Revenue Service (IRS) offers Innocent Spouse Relief, a provision that shields an […]
Editorial credit: Paul Brady Photography / Shutterstock.com Aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system IR-2023-169, Sept. 14, 2023 Moratorium on processing of new claims through year’s end will allow IRS to add more safeguards to prevent future abuse, protect businesses from predatory tactics; IRS working with Justice Department […]
Unemployment payments are usually taxed as income by the federal government. That changed, however, in March 2021, when Congress passed the American Rescue Plan. The law provided for people (including joint filers) making less than $150,000 to exclude $10,200 in unemployment benefits from their income when they file their income taxes for the 2020 tax […]
