1-800Accountant Blog

your-guide-to-form-1120s

Your Guide to Form 1120S

Keeping track of all of your tax obligations and paperwork as a business can be a challenge. The stakes are high, and the IRS doesn’t make its instructions easy to understand. Hiring an accountant can make the process easier, but it’s still helpful to understand how the process works and what you need to do. […]

how-to-file-501a

How To File for Tax Exemption Under Section 501(a)

The Internal Revenue Code of the United States provides for certain organizations to enjoy exemption from federal income tax. While charitable 501(c)(3) organizations are most commonly known for receiving tax exemptions, many other organizations can also file for exemption under section 501(a) of the tax code. According to section 501(a), “an organization described in subsection […]

having-a-509a-status

What Does It Mean to Have a 509(a) Status?

Organizations that are classified as 501(c)(3) tax-exempt status are further classified by the government as one of five types under section 509(a) of the Internal Revenue Code. These categories include private foundations and four different types of public charities. According to the IRC, any organization that does not classify as a public charity is designated […]

futa-foreign-employer

FUTA Tax Responsibility of Foreign Employers

Involuntary unemployment can happen at any time, and the United States government has programs in place to lighten the load for Americans who are affected. Established in the 1930s, the Federal Unemployment Tax Act (FUTA) requires employers to pay taxes to the federal government based on their number of employees. These taxes are not withheld […]

futa-for-foreign-government

FUTA Tax Responsibility Regarding International Organization Personnel and Companies Owned by Foreign Governments

In the United States, the federal and state governments collect taxes from employers to support benefits for the involuntarily unemployed. These taxes have been around since the establishment of the Federal Unemployment Tax Act in the 1930s, and they are a major payroll liability for employers in addition to Social Security and Medicare taxes. Employers […]

futa-aliens-in-the-us

FUTA Tax Responsibility Regarding Aliens in the U.S.

According to the Federal Unemployment Tax Act (FUTA), employers are required to pay federal unemployment taxes to support the government’s benefit programs for involuntarily unemployed individuals. If an employer’s FUTA payroll liability exceeds $500 per quarter, the company must make quarterly payments to the Internal Revenue Service. U.S. Aliens and FUTA The Internal Revenue Service […]

form-w9-fill-out-process

Knock Out Your Form W-9

Whether you’re an independent contractor or business owner, you’ll come across Form W-9 at some point in your career. Essentially, Form W-9 is a Form W-4 for independent contractors. Businesses that hire freelancers or vendors for contract work use Form W-9 to retrieve information, particularly Taxpayer Identification Numbers, so they can accurately report payments to the IRS. Completing this […]

form-w7-fill-out-process

Learn How to Fill Out Form W-7

Noncitizens who are ineligible for a Social Security number need an Individual Taxpayer Identification Number (ITIN) to file a U.S. federal tax return. To apply for an ITIN, noncitizens must fill out Form W-7. Follow along with our step-by-step guide to complete the process with ease. Step 1 – Reason for Filing On the right side […]