Tax Relief Blog

IRS Tax Filing Statuses and Federal Tax Brackets Explained We would look at the IRS Tax Filing Status, the various IRS tax rates for all statuses and how to choose the correct tax filing status. Tax filing status is a category that defines the type of tax return form that [...]

U.S. Tax Returns: Filing Requirements and Income Reporting All taxpayers who meet U.S. tax obligations must declare "Federal Tax" and "State Tax." Federal taxation is the responsibility of the IRS. State tax is the responsibility of the state government where you live. Before filing the deadline, two different tax forms [...]

8 Reasons the IRS May Select Your Tax Return for an Audit After you submit the tax form to the IRS, you may receive a reminder from the IRS to inform you that the tax form will be audited. You may ask, why is my tax form selected? Below we [...]

How the IRS Detects Offshore Tax Violations The IRS has a variety of methods for monitoring tax violations that occur overseas, such as going to places overseas, fishing and investigating to obtain information about taxpayers, requiring taxpayers to produce relevant documents stored overseas, and to witnesses and amnesty request. They [...]

IRS ITIN Guide: Understanding the Individual Taxpayer Identification Number WHAT IS A NON-RESIDENT TAX IDENTIFICATION NUMBER (ITIN)?  The full name of the individual tax return number issued by the Federal Internal Revenue Service (IRS) is "Individual Taxpayer Identification Number (Individual Taxpayer Identification Number)". The number of digits is usually 7 [...]

Understanding FATCA and the IRS Foreign Account Reporting Rules The new IRS tax law was officially implemented at the beginning of the year 2020. People were advised to conceal overseas financial accounts or they would face heavy fines. On December 31, 2019, the IRS ended its long-term grace period for [...]

How to Properly Respond to an IRS Tax Investigation In the life of every taxpayer, it is possible to be taxed at least once by the IRS. Generally, the taxation population of the IRS is 1% of all taxpayers. Of course, everyone is unwilling to be taxed, but this is [...]

How Tax Cuts Can Benefit Low-Income Individuals and Families Evaluating the effects of tax cut policies and clarifying the impact of tax cuts on the economy and society is an insightful discussion in today’s academic institution. According to income division, high-income people receive a greater amount of tax reduction because [...]

How Foreign Property Owners Can Recover Excess Withholding Tax The Internal Revenue Service stipulates that non-U.S. citizens, resident sellers must pay 15% of the house sales price as a withholding tax when selling a house. But we know that withholding tax is not really a tax to be paid, it [...]

Pros and Cons of IRS Installment Payment Plans If you are an individual or business owner with significant tax debt that you are financially unable to pay, you may be eligible to enroll in an installment agreement with the Internal Revenue Service. An installment agreement is essentially a payment plan [...]