Blog Posts
Foreign Taxpayers and Accounts
Concise Takeaway Foreign taxpayers must determine whether they are resident aliens or nonresident aliens, because filing status, income sourcing, withholding, and reporting obligations differ significantly. Additional rules apply for FATCA, FBAR, and foreign financial...
Final Return (Decedent’s Final Form 1040)
Concise Takeaway A decedent’s final Form 1040 reports income up to the date of death. Filing...
Gift Tax (Form 709)
Concise Takeaway The federal gift tax applies to lifetime transfers of property for less than full...
Estate Tax (Form 706)
Concise Takeaway Federal transfer taxes apply to certain lifetime gifts, property owned at death,...
Liability and Relief
Concise Takeaway Married taxpayers who file jointly are jointly and severally liable for the full...
Balance Due and Overpayment
Concise Takeaway A taxpayer has a balance due when total tax exceeds total payments, and an...
Tax Withholding and Estimated Tax Payments
Concise Takeaway Federal income tax follows a pay‑as‑you‑go system. Taxpayers meet their...
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