federal income taxes Free Interrelated Guidepost
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IRS Circular 230 Disclosure: The discussion of U.S. federal tax matters contained in this article is not intended or written to be used, and cannot be used, for the purpose of avoiding valid penalties under the Internal Revenue Code or promoting, marketing or recommending to another party any transaction or tax-related matter[s] designed to avoid payment of taxes due the United States.
You also keep in mind that these overseas bank accounts are opening up an entire can of worms for the taxpayer. The holding of an overseas account is not a violation of the law.
You are charged interest on taxes not paid by appropriate due dates REGARDLESS of whether or not you were granted an extension of time to file your return.
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Filing Requirements for Citizens and Resident Aliens Living Abroad-The rules for filing income taxes are generally the same whether you are in the US or in a foreign country. Your gross income, filing status, and age generally determine whether you must file an income tax return.
Online auctions and retailing is big business and growing every year. eBay is the number one site for individuals to sell items and products on the internet. If you are thinking about selling on eBay.
The kind of business entity you choose determines how you file taxes; a sole proprietorship (Form 1040 Schedule C), a partnership (Form 1065), an S corporation (Form 1120S), or a C corporation (Form 1120).
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