56% Drop in H-1B Sponsorship by Indian IT Firms Over Eight Years
NFAP data reveal a 56% fall in initial H-1B filings by seven major Indian IT firms from 2015…
Articles by & updated by Sai Sankar
Kiddie Tax 2024: When Unearned Income Is Taxed at Parents
Parents can elect Form 8814 to report a qualifying child’s investment income on their return if the child…
Household Employee Rules and 2025 Tax Thresholds for Nannies
IRS updates for 2025 raise the household FICA cash-wage trigger to $2,800 and the Social Security wage base…
NIIT 3.8%: Thresholds and Form 8960 for Individuals, Estates
NIIT remains a 3.8% tax in 2025 on the lesser of net investment income or MAGI excess above…
2025 RMD Rules Explained: Age 73, QCDs, and Tax Penalties
RMDs begin at age 73 for most; first due April 1 after that year or by Dec 31…
Understanding U.S. Income Tax: Progressive Brackets, AMT, and Credits
For 2024, the IRS kept a progressive tax system with inflation-adjusted brackets (10%–37%). Compute base tax, add other…
Understanding Form 5329: Additional Taxes on Tax-Favored Accounts
The IRS confirmed Form 5329 stays in use for 2025 to report additional taxes on tax-favored accounts: 6%…
SIMPLE IRA Early Withdrawals: 25% Penalty in First 2 Years
Retirement withdrawal rules are unchanged for 2024–2025: most distributions before 59½ face a 10% penalty, but SIMPLE IRA…
Roth IRA Qualified Distributions: Five-Year Rule and Exceptions
IRS reaffirmed Roth IRA rules for 2024–2025: qualified distributions need a 5-year period plus a qualifying event. Non-qualified…