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The IRS announced that it will start accepting and processing 2020 individual tax returns on February 12, 2021.As a reminder, the IRS started accepting business tax returns on January 8.

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What Should I do If I Didn’t Receive Economic Impact Payments?

January 19, 2021

In 2020, taxpayers who received economic impact payment also received the notice 1444 from IRS.

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What Should I Prepare for Filing 2020 US Taxes in 2021?

January 12, 2021

The Internal Revenue Service encouraged taxpayers to take action to get ready for the upcoming tax filing season.

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Does My US Child Need to File Taxes?

December 9, 2020

Many moms choose to give births in US, so that their children will be US citizens.

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Your Name(s) on Form 1099 and 10422 CAN’T Be Wrong!

November 25, 2020

USCPA Sophie Luo (羅霞) reminds you that if you trade in security or fund in U.S., your bank or broker will give you form 1099 or form 1042.

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What Should I Do if I Didn’t File US Taxes Before?

November 18, 2020

If you didn’t file U.S. tax return before, you may face financial penalties when IRS reached out to you.

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IRS Income Tax Brackets, Updates to Your 2020 Tax Return for Filing in 2021

November 4, 2020

most ordinary income: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.

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The FBAR Due Date Are Extended to October 31, 2020.

October 16, 2020

FinCEN has issued a statement that the Foreign Bank Accounts Report (FBAR) deadline for 2019 has been moved from Oct 15 (today) to October 31, 2020.

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The Importance of U.S. Company Bookkeeping and Five Benefits

August 18, 2020

3. No area limited. Mobility and remote access to your account data and bookkeeping support.

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When will I get my 2019 tax refund?

July 15, 2020

For the most part, the IRS issues most refunds 21 days or more since you e-filed, 6 weeks or more since you mailed your return.

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What Should I Do to Return the Stimulus Payment Received in Error?

May 19, 2020

IRS confirmed that some economic impact payments were sent by mistake.

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SBA Disaster Assistance for small businesses in Response to the Coronavirus 2020

April 6, 2020

Due to the Coronavirus (COVID-19) outbreak.

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Who is eligible for the economic impact payment?

March 31, 2020

The Internal Revenue Service announced on 30th March that for the economic impact by coronavirus, there will be the amount 500 billion economic impact payments distributed to people.

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The Federal Income Tax Filing and Federal Income Tax Payments Due Date Are Extended to July 15

March 23, 2020

Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.

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Who Should File A Tax Return In 2020?

March 17, 2020

c. You are not U.S. citizen or resident alien, and not having green card but you have income from all sources within of U.S.

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What Is Standard Deduction? Can I Reduce My Return Tax?

February 20, 2020

The Internal Revenue Service (IRS) standard deduction is a specific dollar amount that reduces the amount of income you have to pay taxes on.

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Updates to Your 2019 Tax Return for Filing in 2020

February 14, 2020

most ordinary income: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.

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What Types of Assets Should I Report on FATCA?

February 13, 2020

According to the regulations of IRS, If you have to file FATCA, you must use Form 8938 (Statement of Specified Foreign Financial Assets) to make your disclosure to the IRS.

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FATCA?Who Must File a FATCA Form?

February 12, 2020

If you match any of the following conditions.

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Which Accounts Must You Report on an FBAR?

February 5, 2020

In general, deposit accounts such as checking and savings accounts, investment accounts, and most pension and retirement accounts are FBAR-reportable.

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