Search results
Results from the WOW.Com Content Network
An employer must determine H-1B-dependency status every time the employer files a Labor Condition Application. Further, if an employer who did not file as H-1B-dependent at the time of filing the LCA becomes H-1B-dependent when filing Form I-129, the employer cannot use the LCA and must obtain a new one.
The amount withheld and paid by the employer to the government is applied as a prepayment of income taxes and is refundable if it exceeds the income tax liability determined on filing the tax return. In such systems, the employee generally must make a representation to the employer regarding factors that would influence the amount withheld. [3]
The Goods and Services Tax (GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
This kind of permanent life insurance may offer a tax-free benefit for beneficiaries and a cash-saving component that the policyholder can access or borrow against.
Filing status is used to determine your filing requirements, the amount of your standard deduction, available credits and the tax rate applied to your taxable income. Your filing status will ...
Filing as a head of household can have substantial financial benefits over filing as a single status taxpayer. As a head of household, one may obtain a more generous tax brackets and larger standard deductions. [14] There are many special rules and exceptions applicable to head of household filing status. [15]
In order to reduce the burden on such schemes, many governments give privately funded retirement plans a tax advantaged status in order to encourage more people to contribute to such arrangements. Governments often exclude such contributions from an employee's taxable income, while allowing employers to receive tax deductions for contributions ...
The standard deduction is rising 6.9% or 7.2%, depending on filing status, while the Earned Income Tax Credit amount will increase by 7.1%, the Internal Revenue Service announced this week.