The Federal Insurance Contributions Act (FICA) tax is a mandatory payroll tax that funds Social Security benefits for retired workers, disabled individuals, and their dependents. Understanding the FICA Tax Every …

What Is the Federal Insurance Contributions Act (FICA) Tax? – Simple and Easy Explanation Read More

Federal income tax is a tax the U.S. government collects on personal income to fund national programs such as defense, foreign affairs, law enforcement, and interest on the national debt. …

What Is Federal Income Tax? – Simple and Easy Explanation Read More

Federal/State e-file is a program that lets taxpayers submit both their federal and state tax returns electronically at the same time through a single filing process. Understanding the Federal/State e-file …

What Is Federal/State e-file? – Simple and Easy Explanation Read More

Exemptions are specific amounts taxpayers can claim for themselves, their spouses, and eligible dependents to reduce the income that is subject to tax. Understanding What Exemptions Are Before recent tax …

What Are Exemptions? – Simple and Easy Explanation Read More

Being exempt from withholding means you are not required to have federal income tax taken out of your paycheck, as long as you meet specific income, tax liability, and dependency …

What Does It Mean to Be Exempt From Withholding? – Simple and Easy Explanation Read More

An excise tax is a tax placed on the sale or use of specific products or certain types of transactions. Understanding What an Excise Tax Really Is Most people are …

What Is an Excise Tax? – Simple and Easy Explanation Read More

An employee is a person who works for an employer, who controls when, where, and how the work is performed. Understanding What an Employee Really Is In the world of …

What Is an Employee? – Simple and Easy Explanation Read More

An Electronic Return Originator (ERO) is an IRS-authorized provider that starts the electronic submission of your tax return, whether they prepared it for you or simply transmit it on your …

What Is an Electronic Return Originator (ERO)? – Simple and Easy Explanation Read More

Electronic preparation uses computers and tax software to complete tax returns, helping reduce errors and making the filing process faster and easier. Understanding Electronic Preparation Tax season can feel overwhelming, …

What Is Electronic Preparation? – Simple and Easy Explanation Read More