Ines Zemelman
Articles
Form 720: A Guide to Quarterly Federal Excise Tax Return
Understanding specific tax forms and their purposes is crucial for compliance. One such form that often raises questions is the IRS Form 720. Designed for the reporting and payment of federal excise taxes, this form plays a pivotal role for many businesses. In this article, we'll delve deep into the nuances of Form 720, ensuri...
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...
What is Modified Adjusted Gross Income (MAGI) and how to calculate it?
Disclaimer This article is for informational purposes only and does not constitute legal or tax advice. Always consult with a tax professional for your specific circumstances. ...
Schedule A demystified: A guide to itemized deductions for US expats
When it comes to taxes, US citizens, including expatriates, often find themselves asking: “Should I itemize my deductions or stick with the standard deduction?” Enter Schedule A (Form 1040) – a valuable tool for taxpayers who want to maximize their deductions by listing specific eligible expenses. Her...
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...