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Can I still claim my 2008 stimulus check?

Check if the IRS owes you money Altogether, there’s $163 million in unclaimed money. The deadline for claiming the checks was this Friday, November 28th, ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What does IRS Resequenced mean?

Resequencing happens when your tax return is pushed back one or more cycles for processing. Basically, moves your return out 1 or more cycles to be proces...

What is progressive tax and why would the government use it?

A tax system that is progressive applies higher tax rates to higher levels of income. For the U.S. the individual income tax has rates that range from 10 ...

Which parent can claim head of household?

Generally, to qualify for head of household filing status, you must have a qualifying child or a dependent. However, a custodial parent may be eligible to...

What is the due date of Pt return?

Last Date For Profession Tax (PT) Payment For The Year 2021-22 Extended To 30th May 2021 Under Karnataka Tax on Professions, Trades, Callings and Employme...

How much do you have to give to not have to pay gift tax?

How gift tax is calculated and how the annual gift tax exclusion works In 2020 and 2021, you can give up to $15,000 to someone in a year and generally not...

Where does the important work on tax laws occur?

Congressional Tax Legislation Under the United States Constitution, all legislation concerning taxes must “originate” in the House of Representatives. The...

How do I claim withholding exemptions?

You can claim the withholding exemption only if you had a right to a refund of all federal income tax withheld in the prior year because you didn’t have a...

Who can sign the income tax return of a company?

*Principal Officer with respect to any local authority, company, public body, association of persons or body of individuals is defined under Section 2(35)...

Does NY and PA have tax reciprocity?

Nonreciprocal States Two of Pennsylvania’s neighboring states do not offer income tax reciprocity: Delaware and New York. This means, for example, a Penns...