How Foreign Athletes and Entertainers Are Taxed Using IRS Form 1042-S
Foreign athletes and entertainers who earn income in the United States are subject to U.S. tax withholding and reporting under […]
March 20, 2025
What Employers Need to Know About the IRS Form 8955-SSA Electronic Filing Mandate
The IRS Form 8955-SSA is used to report separated participants in an employer’s retirement plan who are entitled to deferred
FATCA and Form 8966: How High Net-Worth Individuals Are Impacted
The Foreign Account Tax Compliance Act (FATCA) is a U.S. law designed to prevent tax evasion by requiring foreign financial
W-2 Box 12 Codes: What They Mean for Your Tax Deductions and Credits
Form W-2, which reports your wages and tax information, includes Box 12, where various codes are used to indicate different
Do Fantasy Sports Winnings Get Reported on IRS Form W-2G?
Fantasy sports winnings are typically not reported on IRS Form W-2G because this form is generally used for reporting gambling
Understanding IRS Form 1099-SA: How Health Savings Account (HSA) Distributions Are Reported
What Is Form 1099-SA? IRS Form 1099-SA is used to report distributions from a Health Savings Account (HSA), Medical Savings
Why You Might Receive Form 5498 in May Instead of January
IRS Form 5498, IRA Contribution Information, is used by financial institutions to report contributions, rollovers, and other transactions related to
IRS Form 1042-S: Withholding Tax Credit for Foreign Persons
Nonresident aliens (NRAs) can claim a withholding tax credit on Form 1040-NR, U.S. Nonresident Alien Income Tax Return using the