Federal Tax Instructions for Form 1040A
IRS tax form 1040A instructions help taxpayers figure the income tax they owe. Taxpayers can use the 1040A with income less than $100,000, no dependents and itemized deductions. For 2018, taxpayers will not be able to use the 1040A because the IRS has consolidated this form with ...
What Is a Taxable Entity?
The IRS considers most individuals, married couples and corporations as taxable entities. Taxable entities must file tax returns each year if they have any taxable income. Except for qualified ...Read More
Who Is Exempt From Social Security Tax?
Americans began to pay Social Security taxes in January of 1937, and the first retirement benefits were distributed at the same time. Today, employees and self-employed individuals in the United ...Read More
How to Reduce Alternative Minimum Tax
Enacted in 1969, the alternative minimum tax started out as a tool to prevent a small number of high-income earners from paying absolutely no taxes. The AMT eliminates personal exemptions and ...Read More
How to Avoid Mutual Fund Capital Gains
Successful investing often brings the unfortunate byproduct of taxes. When you take a gain, you have to report it to the Internal Revenue Service. Unless you're in the lowest tax bracket, you'll have ...Read More
Tax Deductibility of Designated Gifts
To be deductible, a gift or donation has to be given so that the organization has full control over it. If you specify a project or person you want the money to go to, it generally becomes a ...Read More
Can Mortgage Interest Be Carried Forward?
The mortgage interest deduction is one of the most valuable tax deductions available to American taxpayers. According to the Joint Committee on Taxation, it's projected to reduce tax liabilities by ...Read More