New Jersey now claims ANCHOR, Senior Freeze and Stay NJ on one combined form, the PAS-1, due November 2, 2026. Homeowners under 65 and most renters are filed automatically. Senior homeowners and disability recipients are not, and must file themselves….
There is no percentage rule and no safe harbor. An S corp owner who works in the business is an employee, and the IRS can recharacterize distributions as wages to the extent they are reasonable pay for services performed. Nine…
A CP14 is the IRS’s first bill: you filed a return, the tax was not paid in full, and this is the balance with penalty and interest to date. Pay within 21 calendar days of the notice date and no…
Five things changed on Schedule C for 2025 and 2026: the mileage rate rose to 72.5 cents, bonus depreciation became a permanent 100%, the Section 179 limit reached $2,560,000, the QBI phase-in ranges widened, and a new tip deduction arrived….
Usually in the years between retiring and the start of required minimum distributions, when your income is temporarily low and the lower brackets sit empty. Convert in December once the year is known, fill a bracket without overflowing it, and…
Most people with foreign accounts file both. The FBAR is required when your foreign financial accounts together exceed $10,000 at any point in the year. Form 8938 starts at $50,000 for a single filer living in the United States and…
Mostly no. India taxes the gain because the property is there, the US taxes it because you live here, and the foreign tax credit under Article 25 of the treaty relieves most of the overlap. Three things survive it: the…
Pay in at least 90% of your 2026 tax, or 100% of the tax shown on your 2025 return — 110% if your 2025 adjusted gross income was over $150,000 — and the underpayment penalty cannot be charged, however large…
