Tax processing and preparation can be frustrating and even confusing for businesses. But, don’t worry, Bit Accounting has up-to-date tax blog posts to help you understand core things easily. Keep reading to learn more!
Heating oil is very important for daily use. Either at home or at the industry, we are in dire need of it. In order to fulfill the capacity of home heating oil, the United States government comes forward to address…
The Internal Revenue Service reminds farmers and fishermen tax deadline of 2nd march for the taxation season 2020 in the United States. Many farmers and fishermen, who opt to forgo making quarterly estimated tax payments to the IRS, are now…
While other states contributes to the taxation of the country, on the other hand Texas will never have a personal income tax in the future because Texas deals in sales and excise taxes which sometimes become much higher than the…
Before starting off our topic and diving into the arena of obtaining the answers about a tax on a good has a deadweight loss if we are given few choices. Let’s find out the real meaning of tax first. We…
Income Tax Withholding Rules 2020; The Internal Revenue Service (IRS) in collaboration with the U.S. Department of the Treasury today proposed updates regarding the income tax withholding rules in the United States. You can visit IRS proposed regulations page to…
Most of the taxpayers in the United States are legible for both federal and state tax returns absolutely free. This can be availed by signing to IRS Free File program that offers free federal & free state tax preparation. Moreover,…
The Internal Revenue Service (IRS) and Treasury issue guidance for students with discharged student loans as well as their creditors. More people with discharged student loans can now receive tax relief with the newly issued Revenue Procedure 2020-11 (PDF) guidance in…
The Earned Income Tax Credit (EITC) is one of the tax credits in USA that is particularly meant for moderate-income families and taxpayers. Earned Income Tax Credit is refundable and it can reduce the tax liability of taxpayers if their…
How my year-end bonus is taxed? This is the most common query among the employee sector in USA, now-a-days. Most likely, your income tax is withheld from your paycheck if you work as an employee. However, at the time when…
Can I Get a Tax Refund if I Don’t File & Pay Taxes in USA? Every taxpayer in the United States expects to get a tax refund from the Internal Revenue Service agency. No doubt, your refunds can be the…