Mytaxfiler- Milpitas

Happy Father's Day!

Tax Policy Center reports indicate that most of Biden's proposed tax increases will be borne by households making $800,000 or more. Low and moderate income families may see a tax cut, especially those with children. Write to [email protected] or call (408) 728-1829 for a 15-min consultation on your tax liabilities and plan your taxes efficiently.

The employer's tax liability for federal income tax withheld from employees must be reported to the IRS on a quarterly basis. The employer's share of Social Security and Medicare taxes withheld during the period too is furnished using Schedule B Form 941. Write to [email protected] or call (408) 728-1829 to get into quick 15minute consultation.

Foreign non grantor trusts earning US source income need to file 1040-Non Resident form and pay taxes in the US. Foreign trust rules can get complex in determining the taxable income; reach out to us at [email protected] or call (408) 728-1829 for an online consultation.

The IRS awards matching grants of up to $100,000 per year to qualifying organizations to develop, expand or maintain an Low Income Taxpayer Clinic (LITC). Applications are open and will run to June 18, 2021. Write to [email protected] or call (408) 728-1829 for eligibility and process to apply