Investment and Financial Markets

Clarify California’s franchise tax obligations for your foreign LLC. This guide covers the essential criteria and procedures for maintaining state tax compliance.

Explore the mechanics of excise duty, an indirect tax levied on producers. Learn its calculation methods and how the ultimate cost is passed to the consumer.

Understand how Illinois vehicle tax is determined. The calculation method and final amount depend on key details of the transaction beyond just the sale price.

A 1037 exchange offers a tax-deferred way to swap certain U.S. bonds, carrying over the original cost basis and holding period to the new security.

A practical guide for Oregon businesses on navigating the financial and administrative requirements of the state’s paid leave program.

Understand the official 2024 IRS adjustments for retirement plan contributions and see how the various annual limits for employees and employers interact.

Explore the federal legislation that shapes how the internet is taxed, clarifying the distinction between service access and online sales.

While not directly taxed for Medicare, your pension income is used to calculate your monthly premiums, which can increase based on your total income.

For Illinois residents with out-of-state income, Schedule CR offers a way to mitigate double taxation by crediting taxes paid to another jurisdiction.

Understand how the Tier 1 RRTA tax serves as the railroad industry’s direct equivalent to FICA, funding Social Security and Medicare benefits for workers.

A decedent’s estate is a taxpayer. Learn how Form 1041 is used to report an estate’s income and how that income is allocated to beneficiaries.

Understand the Section 169 tax election, a rapid amortization option for pollution control assets that has specific eligibility and tax basis considerations.

Understand Chained CPI, an inflation measure that accounts for consumer behavior and gradually alters your tax obligations and government benefit adjustments.

The distribution code on Form 1099-R provides crucial context for your tax return, influencing taxable income and potential early withdrawal penalties.

Understand Form 8966, the core reporting mechanism for FATCA compliance, and the obligations for foreign entities holding financial accounts for U.S. persons.

Investment losses can reduce your taxable income, but specific rules and annual limits apply. Learn how these regulations affect your tax return now and later.

The 2022 underpayment penalty is based on changing quarterly rates. Understand the principles behind this IRS charge and the process for resolving it.

Understand the IRS’s power under § 1.701-2 to look beyond a partnership’s structure to its substance, ensuring tax outcomes reflect economic reality.