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2016 FILING REQUIREMENTS FOR MOST TAXPAYERS
2016 FILING REQUIREMENTS FOR DEPENDENTS: If the taxpayer’s parents (or someone else) can claim him or her as a dependent, use this chart to see if you must file a return. In this chart, unearned income includes taxable interest, ordinary dividends, and capital gain distributions. Earned income includes wages, tips, and taxable scholarship and fellowship […]
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Happy Thanksgiving from Applied Accounting & Tax Services
The holiday season is upon us! Today, the last Thursday in November, is Thanksgiving, a holiday to give thanks for all the blessings in our lives. Therefore, we here at Applied Accounting and Tax Services give thanks for our valued clients and everyone else all over the world, and wish all of them a very happy Thanksgiving! We […]
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Due to requirements for certain taxpayers to renew their Individual Tax Identification Number (ITIN), the IRS has released an updated Form W-7. A new screen has been added to Drake Software 2015 that allows the completion of the updated version of the form. (See How to Renew in Drake, below.) Who Needs to Renew ITIN […]
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Changes in ITIN Rules on the Way
Taxpayers with Individual Taxpayer Identification Numbers (ITINs) will have a different set of rules for the 2017 income tax filing season. The changes are the result of the Protecting Americans from Tax Hikes Act, better known as the PATH Act, which was passed in 2015. The revisions center around those ITINS that may have gone […]
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