Internal Revenue Service

IRSinternal revenueBureau of Internal Revenue
In 1954 the filing deadline was moved from March 15 to April 15. The Tax Reform Act of 1969 created the Alternative Minimum Tax. By 1986, limited electronic filing of tax returns was possible. The Internal Revenue Service Restructuring and Reform Act of 1998 ("RRA 98") changed the organization from geographically oriented to an organization based on four operating divisions. It added "10 deadly sins" that require immediate termination of IRS employees found to have committed certain misconduct. Enforcement activities declined.

Form 1040

1040 forms1040 income tax form1040 series
Individual Income Tax Return") is one of three IRS tax forms (see variants section for explanations of each) used for personal (individual) federal income tax returns filed with the Internal Revenue Service (IRS) by United States residents for tax purposes. Income tax returns for individual calendar year taxpayers are due by Tax Day, which is usually April 15 of the next year, except when April 15 falls on a Saturday, Sunday, or a legal holiday. In those circumstances, the returns are due on the next business day. An automatic extension until October 15 to file Form 1040 can be obtained by filing Form 4868. Form 1040 consists of two full pages (79 lines in total) not counting attachments.

ReadyReturn

Between 2001 and 2010, Intuit Inc., maker of the tax-preparation software TurboTax, spent more than $1.7 million on lobbying in an attempt to kill ReadyReturn. Proposed statewide rollout of the ReadyReturn program was defeated in the California legislature in 2006. The FTB revived it on their own for the 2007 tax year, expanding it to cover one million Californians. In 2012, more than 80,000 California taxpayers used the system. Ninety-eight percent of users who filled out a survey said they would use it again. The state's tax agency said that returns filed with that system were cheaper to process than paper returns. ReadyReturn is now defunct.

TaxSlayer

TaxSlayer is now one of the largest online tax preparation services and a direct competitor to Intuit's TurboTax. In 2017, the company reported record growth in tax e-files with more than 10 million state and federal returns for the year, representing a 200% increase over the past three years. TaxSlayer produces software for several different market segments: consumers, professional tax preparers and the IRS VITA (Volunteer Income Tax Assistance) and TCE (Tax Counseling for the Elderly) program volunteers. TaxSlayer’s consumer products allow taxpayers to electronically file their taxes online each year.

TaxAct

In 2018, former Intuit executive Curtis Campbell was appointed as the President of the company. TaxAct is a member of the Free File Alliance, a free federal tax preparation and electronic filing program for eligible individual taxpayers developed through a partnership between the IRS and a group of private sector tax software companies. TaxAct offers two product formats: TaxACT Online which is web-based tax preparation, and TaxACT Desktop. There are also free mobile app called TaxACT Express which was released on January 17, 2014. The app is available for iOS and Android. There are several online plans: Free, Basic+, Deluxe+, Premier+ and Self- Employed+ and Pro.

United States

American🇺🇸U.S.
The United States of America (USA), commonly known as the United States (U.S. or US) or America, is a country composed of 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles (9.8 million km 2 ), the United States is the world's third or fourth largest country by total area and slightly smaller than the entire continent of Europe's 3.9 million square miles (10.1 million km 2 ). With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York.

Republic, Lost

Republic, Lost: How Money Corrupts Congress – and a Plan to Stop ItRepublic, Lost: How Money Corrupts Congress—and a Plan to Stop It
The Internal Revenue Service (IRS) gets most of the information needed to complete an income tax return for most citizens and could send taxpayers a draft return. Taxpayers could either accept the IRS bill as is, submit it with modifications (similar to how consumers challenge charges on a credit card they didn't make), or create a new one completely from scratch. Intuit, the developer of tax preparation software TurboTax, spent over $1.7 million to kill a program like this in California (ReadyReturn).

H&R Block Tax Software

Either the online or software versions will prepare and file one's federal and state income tax returns with the IRS with the option of electronically filing (e-filing) and direct depositing an applicable tax refund into a specified bank account. The competitors for H&R Block software are TurboTax and TaxAct. H&R Block Online Tax Filing. H&R Block Tax Software. The New York Times: Best Tax Software Reviews.

Taxation in the United States

taxestaxationtax
Each employer is required to provide each employee an annual report on IRS Form W-2 of wages paid and federal, state and local taxes withheld, with a copy sent to the IRS and the taxation authority of the state. These are due by January 31 and February 28 (March 31 if filed electronically), respectively, following the calendar year in which wages are paid. The Form W-2 constitutes proof of payment of tax for the employee. Employers are required to pay payroll taxes to the taxing jurisdiction under varying rules, in many cases within 1 banking day.

Form 1099-R

1099-R1099-R form
IRS Tax Forms. Taxation in the United States. Form 1099-R 2016. Instructions for Form 1099-R.

Income tax in the United States

federal income taxincome taxIndividual income tax
Due dates and extension provisions for state and local income tax returns vary. Income tax returns generally consist of the basic form with attached forms and schedules. Several forms are available for individuals and corporations, depending on complexity and nature of the taxpayer's affairs. Many individuals are able to use the one page Form 1040-EZ, which requires no attachments except wage statements from employers ( Forms W-2). Individuals claiming itemized deductions must complete Schedule A. Similar schedules apply for interest (B), dividends (B), business income (C), capital gains (D), farm income (F), and self-employment tax (SE).

Form 1096

Form 1096 is due by the end of February each year when used for Forms 1097, 1098, 1099, 3921, 3922 or W-2G, and is due by the end of May when used for Forms 5498. For Form W-2, Form W-3 is used instead of Form 1096.

Form 1099-MISC

1099-MISC1099
There are several use cases of Form 1099-MISC. Whether an income is taxable and whether it should be reported on Form 1099-MISC are distinct questions. There may be other forms, such as Form W-2 (for wages) or Form 1099-K (for payments made with a credit card) that must be filed instead. One common use of Form 1099-MISC is to report payments by a business to US resident independent contractors. For the purpose of this form, "business" includes nonprofits and other organizations. In this case Form 1099-MISC needs to be issued only when the total amount paid during the tax year is at least $600, though the Form may still be issued at lower amounts.

Independent contractor

contractorindependent contractorscontractors
In the United States, an Internal Revenue Service computer algorithm matches individuals with Form 1099s to the company that pays them. If an independent contractor reports more than $10,000 of earnings, or majority of income from a single source, the IRS is likely to question the independence of the worker, and investigate the company that issued the Form 1099. Employer misclassification of employees as independent contractors either inadvertently or to avoid taxation and regulation, is widespread. Additionally, contractorization has been used as an indirect form of union-busting.

H&R Block

H&R Block, Inc.Block H & R Inc (HRB)H & R Block
Users can log on using various devices, import photos of their W-2 forms and use a searchable knowledge base. The Deluxe and Premium editions include free online chat with a tax professional. In January 2016, H&R Block launched Block Advisors, a service that provides year-round consumer tax preparation. The company has opened about 350 Block Advisor offices. Its advisors include certified public accountants, enrolled agents, or have been certified by H&R Block as master tax advisors. In 2014, the company formed a strategic alliance with Xero. As part of this alliance, H&R Block will exclusively promote Xero as its preferred small business online accounting solution.

Tax withholding in the United States

withholdingautomatically withheldincome tax withholding
Form 1099 series for backup withholding. Income tax in the United States. IRS penalties. Medicare (United States). Social Security (United States). United States v. Gotcher.

Affordable Care Act tax provisions

additional implications
-person-status by filing Form 8840 no later than June 15 of the year the tax return must be filed. Being a U.S. person may have damaging tax effects on Canadians, because they must file U.S. tax returns on their world-wide income (even if none of the income is derived in the United States). Even those who owe no tax may be faced with large costs associated with filing complicated tax returns in both Canada and the United States, including such forms such as [[Department of the Treasury Form 90-22.1 Report of Foreign Bank and Financial Accounts|FBAR]] and form 8965. https://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions. https://www.healthcare.gov/fees-exemptions/exemptions-from-the-fee/.

Tax compliance software

Some popular tax preparation software include: * Streamlined Sales Tax Project H&R Block Tax Software. TaxACT. TaxCut. TurboTax. CompleteTax.

Income tax

income taxesincometaxes
An income tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income). Income tax generally is computed as the product of a tax rate times taxable income. Taxation rates may vary by type or characteristics of the taxpayer.

Social Security Administration

Social SecuritySocial Security BoardU.S. Social Security Administration
The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant's benefits are based on the wage earner's contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need.

Form 1042

Form 1042-S1042-S
IRS tax forms. Taxation in the United States.

Tax

taxationtaxeslevy
A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

Taxpayer Identification Number

tax identification numberIdentification NumberTax ID
." * IRS: Taxpayer Identification Numbers (TIN) a Social Security number(SSN). an Individual Taxpayer Identification Number (ITIN). an Employer Identification Number (EIN), also known as a FEIN (Federal Employer Identification Number). an Adoption Taxpayer Identification Number, used as a temporary number for a child for whom the adopting parents cannot obtain an SSN. a Preparer Tax Identification Number, used by paid preparers of U.S. tax returns. Federal government of the United States. Taxation in the United States. Personal identification number (PIN). Primary key. Serial number. Single version of the truth. Surrogate key. Transaction authentication number. Unique identifier (UID).

April 15

15 April1515th April
April 15 (Eastern Orthodox liturgics). Day of the Sun (North Korea). Earliest day on which Sechseläuten can fall, while April 21 is the latest; celebrated on the third Monday in April. (Zürich). Father Damien Day (Hawaii). Hillsborough Disaster Memorial (Liverpool, England). Jackie Robinson Day (United States). Tax Day, the official deadline for filing an individual tax return (or requesting an extension). (United States, Philippines). Universal Day of Culture. World Art Day.