Statutory Employee Income
If a taxpayer receives a Form W-2 marked as a Statutory Employee in box 13, you will need to enter...
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Frequently Asked Questions
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Frequently Used IRS Contact Numbers
Employer Identification Numbers 800.829.4933 To apply for a new EIN Exempt Organization / Non-profits Assistance 877.829.5500 For assistance with Exempt... -
Original Issue Discount (OID)
Original Issue Discount (OID) is normally offered on some bonds and similar obligations in lieu of those bonds earning interest.... -
Foreign Country Codes
Code Country Name AF Afghanistan AX Akrotiri AL Albania AG Algeria AQ American Samoa AN Andorra AO Angola AV Anguilla... -
Standard Mileage Rate Chart (Annually In Cents Per Mile)
Applicable Period Rates (in cents per mile) Source 2020 Business57.5 Charitable17 Medical and moving14 IR-2019-215 2019 Business58 Charitable14 ... -
Traditional IRA Deduction
There are several tax advantages when using a traditional IRA to save for retirement: Contributions made to a traditional IRA... -
SEP, SIMPLE, and Qualified Plans
A SEP, or Simplified Employee Pension, is a written plan that allows an employer to make contributions toward his or her own... -
Nondeductible IRAs
Funds that are rolled over from a traditional IRA to a qualified retirement plan (not including traditional IRAs) are considered... -
Form W-2G – Gambling Winnings and Losses
Gambling income includes, but is not limited to, lottery, raffle winnings, horse races and casinos. It includes cash winnings and... -
Excluding the Sale of Main Home
A taxpayer may qualify to exclude from their income all or part of any gain from the sale of their...