Tax Guide

IRS Form 4506 and 4506-T: How mortgage lenders verify a prospective tenant’s income with the IRS

October 11, 2018

When you apply for a loan, especially for a mortgage, you may have to submit IRS Form 4506 or Form 4506-T. Lenders use these forms to verify your income with the IRS. When you sign and submit Form 4506, the IRS sends a copy of your tax return history (going back up to seven years)...Read More

IRS Form 8802: how international US companies can reduce tax payments to local governments

September 18, 2018

Businesses that maintain operations internationally are subject to the withholding rates of the foreign countries they operate in. For tax purposes, local governments withhold tax on income paid from internal sources to residents of other countries, regardless of their residency. The withholding rates depend on the laws of individual countries. However, for certain types of...Read More

How the 2018 tax reform will affect your Form W-4 in 2019

September 3, 2018

The 2018 tax reform will change the way how US citizens file and pay their taxes in 2019. The most relevant changes of the new tax law will affect the amount of tax withholdings from paychecks, especially those for taxpayers with children and other dependants. This means that employees have to recalculate their withholding allowances...Read More

How to file an IRS 706 tax return for a decedent’s estate

August 27, 2018

If you are an executor of real estate for a relative, friend or anyone else, you’ll have to pay taxes for his/her property after their death. The US government imposes an especially high tax on large estates, so it’s important that this is done correctly and promptly. IRS Form 706 is specially designed to calculate...Read More

A brief guide on filing IRS Form 8332 for release of dependency exemption

August 20, 2018

We tend to assume that after our children have been living with us for a certain period of time, that we are by default, their legal guardian. However in certain cases, the courts may think differently. Sometimes, due to technicalities, parents with sole physical custody of their children are not always considered, at least by...Read More

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