Estate tax calculator is an easy tool to find out the federal estate tax which imposed on the total value…
Category: FAQ on Tax Issues
Depreciation calculator for home office
If you carry business or profession from a portion of your home, you are allowed home office tax deduction as…
Home Office Deduction Calculator
If homeowners and renters carry on business or profession from a part of the home, the expense incurred on the…
How to Determine Starting Date & Ending Date for Residency ?
The US tax laws requires determination of period of residency of an alien in the United States. The rules for…
IRS form to apply for stimulus check if no tax return filed
IRS has launched an online form for non-filers , so that IRS can issue stimulus check
How to Find Prior AGI Easily ?
The adjusted gross income or AGI is used as the basis for lots of things, like calculating your stimulus check…
What Tax Deadlines Extended & What Not ?
IRS issued Notice 2020-18 (PDF) as a follow up of Covid 19 tax relief announced by the Treasury Department and the…
Coronavirus pandemic heat map tool
Why is Iraq not that much affected by Coronavirus despite being neighbour to IRAN ? Is hotter climate enemy of the Covid 19. Analyse through online coronavirus heat map tool
Inheritance tax :Who ,Why & How ?
Most of the time, only big estates feel the bite of taxes — odds are you won’t have to pay…
Search Per Diem Rates Countywise
What is per diem? The Per diem allowance is paid by the employer to its employees for lodging, meals, and…
2020 Failure to File Penalty Calculator
Failure to file penalty is imposed on a taxpayer who owes some money as per tax return but does not…
How to Use IRS First Time Penalty Abatement to Save on Taxes?
First time penalty abatement (FTA ) is an IRS procedure under which you do not need to give any “reasonable…
Real Estate Capital Gains Calculator
This real estate capital gains calculator should be used to estimate the capital gains tax you may pay if you…
Standard Deduction :3 Types of Nonresident Aliens Can Claim It ?
Standard deduction is substantially increased after passing of Tax Cuts & Jobs and is a major deduction for US taxpayers who do not want to claim itemized deduction while filing taxes.However, the standard deduction is not available for nonresident aliens. But , to your surprise , nonresident aliens are still allowed to claim standard deduction in three exceptional circumstances.
FAQs on Penalty for Underpayment of Estimated Tax
Internal Revenue Code provides for tax payment liability as you earn. IN other words, you need to pay tax on current year income quarterly. If you fail to do that , additional tax is imposed per IRC 6654
AMT Calculator for Form 6521
AMT calculator is a quick tool for you to find if you need to file Form 6521 that is needed when a taxpayer is supposed to pay alternative minimum tax
