Upcoming Tax Deadlines
June DAY 10 Employees Who Work for Tips – If you received $20 or more in tips during May, report them to your employer. You can use Form 4070. 17 Social security, Medicare, and withheld income tax – If the monthly deposit rule applies, deposit the tax for payments made in May. 17 Corporations – […]
U.S. Citizens and Residents Must File Tax Returns Even If They Lived Abroad in 2023
Generally, U.S. citizens and resident aliens must pay federal tax on their worldwide income, including income received while living outside the country. Even those who qualify to exclude foreign earned income for tax purposes, or to claim a credit for taxes paid to other countries to offset their U.S. tax liability, generally must still file […]
Clean Vehicle Credit Dealer Transfers
As of January 1, 2024, people who buy or lease cars or trucks that qualify for the Clean Vehicle Credit (CVC) may transfer the credit to an eligible seller (usually a dealership). The transferred credit may be used as a down payment, or exchanged for a reduction in the vehicle price. Eligible vehicles include many […]