All tax filers will have to file the new Form 1040 this year. The new form results from a campaign promise by then-candidate Donald Trump to simplify tax rules so that a postcard-size form would be all an average taxpayer would need. The new 1040 comes close. It has been redesigned to be a half-page document with just 23 lines. That's down from two pages and 79 lines. Also, all filers will use the same form, the new 1040. No longer will you have to decide to use the 1040A (known as the "short form") or 1040EZ -- they've been discontinued. If your only income is from a job and is reported on a W-2 and you have no other deductions or credits to claim, this new 1040 is all you'll need to complete. Six new schedulesBut if your situation is more complicated -- because, for example, you claim certain deductions, credits or owe additional taxes -- you'll also need to complete one or more of the six schedules that are new for 2018. Here's a rundown of the new schedules, which are designated by … [Read more...] about The new, streamlined IRS Form 1040: What you need to know
Who needs to complete a tax return
Carl Lamb, managing director of Almary Green Archant Our reader this week has lost her husband, who was not able to complete his latest tax return before he died. His wife wants to know whether she needs to do so on his behalf. Carl Lamb of Almary Green provides the answers. Question: My husband died last November at the age of 62 after a short illness. He had a well-paid job and had a number of other income sources so was a higher rate taxpayer. He hadn’t done his tax return before he fell ill – he always did it himself as he was an accountant. He’s made me his executor so do I need to complete a tax return on his behalf by the end of January?Almary Green response: I am sorry to hear of your bereavement. Yes, it is likely that you will need to submit a tax return for your late husband. Your first step, however, should be to contact HMRC: they have a dedicated helpline for those who find themselves in your position and want to know how to proceed. The number is … [Read more...] about Ask the Expert: My husband has died, do I need to complete a tax return on his behalf?
Got your NIEs and NIFs all in a muddle? Not sure if you are paying IVA or IRPF? In this handy guide, The Local spells out some of the key terms you'll need while living in Spain. Starting up in a new country is difficult, and Spain is no different. In this article, The Local looks at some of the most common terms bureaucratic terms to give you a head start. A is for autónomos: Spain’s ‘autónomos’ are the country's self-employed workers. These workers pay a fixed monthly fee — usually €250 a month, although some including younger workers and new self-employed workers are entitled to a range of discounts. Click here to read: Freelancing in Madrid: A survivor's guide A is also for alquilar: Alquilar is Spanish for 'to rent'. READ: The survivor's guide to renting in Spain B is bank accounts: To open a bank account (cuenta bancaria) as an expat working or studying in Spain you need to be over 18 and have photo identification. If you're … [Read more...] about What you need to know: The Local’s A to Z Guide to bureaucracy in Spain
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Globe Staff July 04, 2018 The Registry of Motor Vehicles offers the following suggestions for Massachusetts residents seeking to get or renew their standard driver’s license or obtain the new REAL ID. Top tips ■ The RMV cannot accept any laminated documents because the computer hardware scanners cannot scan them. Make sure documents are not laminated. ■ If you are an AAA member, you may be able to go to an AAA location to do many license and registration transactions, but not all of them. Check here: www.mass.gov/rmv-services-at-aaa. Advertisement ■ Check the RMV website for “real-time” wait times at specific locations. Get Talking Points in your inbox: An afternoon recap of the day’s most important business news, delivered weekdays. Thank you for signing up! Sign up for more newsletters here … [Read more...] about How to avoid a very bad day at the RMV
This article is available to Members of The Local. Read more Membership Exclusives here. People who live and work in Germany in certain circumstances are not obligated to file a tax return by May 31st. Earners below a certain income level If you earn below €8,820 per year as a single person or €17,640 annually together with your civil partner, you do not have to pay taxes on this income (i.e. file a tax return). Employees in tax class 1 Employees in tax class 1 (Steuerklasse 1) whose only source of income is from their employer - a significant amount of the workers across Germany - also do not have to file a tax return. The same applies to married people with tax class combination 4/4 (Steuerklassenkombination 4/4). In both these cases, filing one’s taxes is unnecessary since one’s employer pays the workers' taxes to the finance office. But it could be worth filing a return nonetheless. For the 11.5 million residents nationwide who received a … [Read more...] about Who is obliged to file a tax return in Germany and who isn’t?