The FICA tax (Federal Insurance Contribution Act) is a social security tax. This tax is deducted at source i.e from…
Author: Prashant Thakur
Prashant Thakur is a tax advisor . He has written two books on tax laws of India. He regularly writes on his paid-only website http://taxworry.com. He is learning about the Internal Revenue Code of USA as many of clients and readers are of India origin and also are tax resident of USA . So . solving their tax issues require reference to IRC of USA.
Is Alimony Taxable in 2021?
The simple answer is No. Because pursuant to section 11051 of the Tax Cuts and Jobs Act (TCJA) law relating…
2021 Estimated Tax Calculator Quarterly
2021 Estimated tax calculator quarterly can help taxpayers estimate their quarterly tax payment easily. As you know , the extension…
Failure to Deposit Penalty Calculator with FAQs
Failure to deposit tax penalty calculator with FAQ lets user to compute easily the penalty to be imposed under IRC 6656(a)
R&D Tax Credit Calculator
Do you know that Internal Revenue Code allows a handsome tax credit for your expenditure on Research and Development (R&D)?…
Federal Solar Tax Credit Calculator
The good news is that the federal solar investment tax credit has been extended with the signing of the Federal…
2021 Child Tax Credit Calculator
Easiest calculator for knowing how much child tax credit you can claim under the new American Rescue Plan Act
Child Tax Credit Eligibility Checker
The American Rescue Plan (ARP) temporarily expands the Child Tax Credit (CTC) from $2,000 per child to as high as…
Tax Filing Deadline 2021 for Individuals Extended!
In accordance with its earlier announcement on March 17, the IRS issued detailed guidance on Monday about its postponement of…
What is Failure to Deposit Penalty & Interest?
Let me first elaborate on the “failure to deposit penalty” which is imposed on employers not paying payroll taxes within…
Third stimulus check calculator 2021
Easiest calculator for computing the third stimulus check amount , you are actually going to receive
Household employment taxes calculator & FAQs
Section 3101 of the Internal Revenue Code imposes a tax on wages earned by an employee. The responsibility to deduct…
12 Must File Taxes Situations!
Who is required to file a tax return? is a very common question among people earning less or having a…
Standard deduction: When to claim more & when you can’t claim a penny?
The standard deduction is the hassle-free deduction under the Internal Revenue Code that is available to almost every taxpayer who…
W9 Form: 10 Most Important Things You Must Know!
W9 purpose ? W9 Form aptly named as Request for Taxpayer Identification Number and Certification is for collecting basic information…
IP Pin from IRS: What, When, How & Why?
2021 Tax filing season is starting 12th February, but the online allotment of IP PIN (Identity Protection Pin) through IRS…
