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An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17]
An adoption tax ID number is a temporary tax ID number the IRS assigns to a child in the adoption process so the adoptive parents can claim them as a dependent on their taxes.
An Individual Taxpayer Identification Number (ITIN) is a United States tax processing number issued by the Internal Revenue Service (IRS). It is a nine-digit number beginning with the number “9”, has a range of numbers from "50" to "65", "70" to "88", “90” to “92” and “94” to “99” for the fourth and fifth digits, and is formatted like a SSN (i.e., 9XX-XX-XXXX). [1]
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As you prepare to file your taxes in advance of the April 15 deadline, you may be wondering about certain terminology. For instance, the 1040 form that most people use to file their federal income...
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