by Steven J Weil, PhD, EA, LCAM | Feb 8, 2023 | Blog, Personal Tax
To obtain an ITIN you must complete IRS form W-7 and submit this form along with original documents that prove your identity and status, such as an original passport or a combination of other documents such as Driver’s license/State I.D., USCIS documentation, and...
by Steven J Weil, PhD, EA, LCAM | Feb 6, 2023 | Blog, Personal Tax
An ITIN is an Individual Taxpayer Identification Number, for people that don’t qualify for a Social Security Number but still need to file U.S. tax returns or open U.S. bank and investment accounts. Foreign nationals that have U.S. source income from things like U.S....
by Steven J Weil, PhD, EA, LCAM | Feb 1, 2023 | Blog
Used electric vehicles purchased after 2022 and before 2033 may qualify for a tax credit of up to $4,000. Qualified buyers who acquire and place in service a previously owned clean vehicle, are allowed a credit equal to the lesser of $4,000 or 30% of the vehicle’s...
by Steven J Weil, PhD, EA, LCAM | Jan 18, 2023 | Uncategorized
The answer is: forever if you fail to file the tax return. But if you file the required returns and just can’t pay then the amount of time the IRS has to collect is limited by the IRS’s Collection Statute of Limitations. The IRS Collection Statute Expiration Date...
by Steven J Weil, PhD, EA, LCAM | Jan 16, 2023 | Uncategorized
President Biden signed the Consolidated Appropriations Act of 2023, which includes the SECURE 2.0 Act of 2022. Here are some of the highlights: Increases the age for required minimum distributions. Beginning January 1, 2023, the age is raised to 73, and to 75 on...
