Ines Zemelman
Articles
Form 8959 Explained: Additional Medicare Tax made simple
The US tax code is complicated enough without extra forms, but if you’re a high earner or self-employed, you’ve probably encountered Form 8959. This form is essential for reporting the Additional Medicare Tax, a tax that applies once your income crosses certain thresholds. If you&r...
IRS provides tax relief for California wildfire victims; deadlines extended to October 15, 2025
The Internal Revenue Service (IRS) has announced tax relief measures for individuals and businesses affected by the wildfires in California that began on January 7, 2025. Affected taxpayers now have until October 15, 2025, to file various federal tax returns and make payments. Affected areas The ta...
IRS announces the start of the 2025 tax filing season with new tools and features
The IRS has announced that the 2025 tax season will begin on Monday, January 27, 2025, offering expanded tools and features for taxpayers as part of the agency’s ongoing modernization efforts. This year's improvements are expected to enhance the tax filing process and make it easier for taxpayers to access ess...
Form 8960: Understanding the Net Investment Income Tax
Form 8960 may sound like just another tax form, but for high-income earners, it’s a key document. If you’ve got rental income, dividends, or capital gains and your earnings exceed a certain threshold, this form likely has your name on it. Let’s break it down so you can tackle it with confidence – and ma...
Schedule SE: A comprehensive guide for self-employed taxpayers
As a self-employed individual, you have the freedom to be your own boss – but that also means you’re responsible for more than just your income. Enter Schedule SE (Form 1040), the form you need to calculate and report your...
IRS reminds retirees to take required minimum distributions by December 31, 2024
As the year draws to a close, the IRS is reminding retirees aged 73 and older about the importance of withdrawing their Required Minimum Distributions (RMDs) from retirement accounts by ...