How much will taxes go up in 2021?

How much will taxes go up in 2021? For 2021, the top tax rate of 37% will apply to individual taxpayers with income over $523,600 ($628,300 for married filing jointly). Meanwhile, single filers with income over $209,425 ($418,850 for married filing jointly), will fall into the 35% bracket

Are taxes being delayed in 2021?

Are taxes being delayed in 2021? Tax filing season delayed, will start February 12: IRS Thanks to the pandemic and the push to get stimulus payments out quickly, the 2021 federal tax filing season will start a little late this year. The IRS on Friday said it would begin accepting federal tax returns on February 12.

Will there be tax returns in 2021?

WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. … People can begin filing their tax returns immediately with tax software companies, including IRS Free File partners.

Types including tax depending on marriage status

Types including tax depending on marriage status (Marital Status) The biggest difference between US tax reporting and South Korea is that the tax rate and standard deduction amount differ depending on the marriage status. This is called Marital Status, and you can report 5 types of tax according to the status such as unmarried /…

Late filing penalty and Interest

▶ Late filing penaltyPlease note that if you do not report within the reporting period, you will be subject to a monthly payment and a late filing penalty of 5% of the tax. This fine charges up to 25%. ▶ Late Payment PenaltyIf the infield tax is calculated, you must pay the expected tax by…

how long should I report and pay taxes?

Submission time including tax and finesNext, how long should I report and pay taxes? The regular deadline is April 15th, including tax. Especially for US Citizenship / Permanent Residents residing abroad, the two months will be automatically extended and can be reported by June 15th. If you submit Form 4868 and apply for an extension,…

Contact / Procedure

Use Contact Form

Please write down and send it immediately using website's contact form that will directly be sent to my email, rsung@sungcpallc.com. Since it is necessary to write an email and get an answer system, your email address is required.

Fee Schedule / Offer

Please send us a consultation In our office, we will present the accounting chorus related to the business to Flat.

Facebook MSN Talk

You can reserve / inquire about the available time through Facebook MSN, and if you leave the number, we will call you. (download Facebook App in your mobile)

Consultation on tax management / cost reduction services

We will charge a $ 200 consultation fee per hour. Business visits can be billed from $ 200 to $ 500 on request, depending on the region.

You will be able to reduce the cost by more than 10 times of consultation fees and maximize the net profit on sales.

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Richard Sung, CPA graduated from Yonsei University (BBA) and Baruch College/ CUNY with an MBA in Taxation. Since then, he had worked for RSM US LLP, the fifth largest accounting firms in the United States and Marks Paneth LLP. He has a career of about 18 years in related fields.

Richard Sung

Richard Sung, Managing Partner.

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