Handbook for those who pay taxes in the USA

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Until April 18, 2017, US residents must report on what they earned last year - submit tax returns (Tax Return).

Your tax report is perhaps one of the most important letters you send while living in America. Not only must the numbers and data in all forms be accurate, but also the address on the mailing envelope. Only if it is 100% accurate will it be considered that you filed your tax return on time.

ForumDaily prepared a lot of articles to help the taxpayer: how to file a declaration yourself, who should do it, how to get back part of taxes, what kind of relief can be obtained when a hobby is considered a business. For your convenience, we have collected all the important and relevant articles in one directory. Every taxpayer will find useful information in it.

April 15 is a date that every American remembers - the deadline for filing a tax return. However, in 2017, the official tax filing date for all states is moved to 3 days later - April 18, 2017. In order not to miss day X, you should read the detailed schedule and find out when to file your state tax return.

Find out if it concerns you

First you need to figure out who exactly should report to the state. To determine your status will help a special table that is available in Russian. Examine it to understand at what income you need to file a tax return for 2016 a year. More information you can find here.

What should the employer do?

You are an entrepreneur and work for yourself, that is, you do not receive a salary. But this does not exempt you from paying social taxes, known as self-employment tax or self-employed tax. We have prepared a detailed article for those who earned after deducting all costs $ 400 (for workers in churches - $ 108.28). Read how to pay taxes in the US if you work for yourself..

What income should I pay taxes on?

If you earn income in the United States, you must know whether you are a taxpayer for America or not - and this is part of your responsibility. Therefore, let us begin with the main thing: anyone who has income in the United States must pay taxes, even if this income is illegal. Tax education will help you understand who should file a declaration in the United States. Read expert tips.

If you have a nice hobby that generates income, you should clearly understand at what point this hobby turns into a business and how it affects the amount of tax.

To determine whether your business is a real business, not a hobby, the legislator has established certain criteria that you can read about. here.

What do those who pay taxes abroad

The offset for taxes paid abroad is intended to alleviate the tax burden that would otherwise arise from taxing income received abroad, both from the US and from the state in which the income was received. To qualify for a credit, you must fulfill the 4 conditions: we will understand in details.

If you can't pay, let us know

It is worth knowing in advance that if you are unable to pay taxes due to you by the date you filed your tax return (in 2017, it is April 17), interest and monthly late payments are charged on your debt. A fine is also charged for failure to file a tax return, so it should be filed on time, even if you are unable to pay the tax in full. If you are having trouble paying your taxes, look into the repayment option. ForumDaily explains what to do if you cannot pay taxes on time.

Tax defaulters will be tough to fight. The United States Revenue Service received the right to cancel citizens' passports for tax evasion.

If you have tax arrears in excess of $ 50 thousand, the IRS can notify the State Department, which typically will not issue or renew a passport after receiving such notice from the IRS. Read more about this innovation.

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How to choose a specialist in taxes

Communication with representatives of the tax administration (IRS) may not be entirely smooth if the tax specialist, who is also the drafter, is chosen incorrectly. ForumDaily gathered 9 “warning beacons” - signs that it is not worth using the services of this particular accountant. Learn how to choose the right tax specialist.

How to independently file a tax return in the United States

For a newbie, filing a tax return can seem like overworking. But in very simple cases, a person can spend quite a bit of time and independently fill out a declaration.

If you lived in the US for more than 183 days a year, you have an SSN / ITIN identification number, the status is correct (single, married filing jointly / separate or head of household), the source of income is determined by the W2 form and there is no other income there were no investments, real estate transactions, foreign investments, and there was constant medical insurance - in this case, you can file a declaration yourself. Read more about how to do this.

For the convenience of those who fill out the declaration themselves, - TOP-5 programs to fill out a tax return.

How else to save

If you decide not to contact a paid accountant, this will allow you to save from $ 150 to $ 300. It is just so much, on average, specialists take for their services who help anyone who wants to report to the tax authority - the IRS. Find out 6 free ways to report before tax.

Do not forget to do it at the end of the year.

The last weeks of December is not only a festive bustle, but also an opportunity to review the situation with your taxes. Take into account all the 5 simple tips that can help reduce the amount of taxes you have to pay in the 2018 year. The main thing is to remember this in December and make it before the end of this year: a hint for those who do not like to waste money here.

See also:

How to notify the United States Revenue Service about the change of address

Who should receive permission from the tax service to leave the country

What taxes do you pay from your salary in the USA

As a non-resident to open a business in the US: what taxes you need to pay

New rules from the IRS: who needs to update ITIN now?

How to pay tip taxes in the US

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