10 USA tax rules

Tax Residency in the USA: You can become a tax resident in the USA even as a tourist. The USA uses a unique system for counting days of presence to determine tax status, different from standard practices in other countries.

Filing Tax Returns: Although technically voluntary, failing to file tax returns in the USA can lead to penalties, especially if you owe taxes.

Tax Benefits for Low-Income Families: To receive government payments for children, one must file a tax return. It seems absurd, but it is true.

Variations in State Tax Rules: Tax rules can significantly differ depending on your state of residence, requiring extra attention when filing returns.

Additional Reporting for Joint Filings: Extensive reporting is required, including information about foreign accounts and cryptocurrency transactions.

Control Over Tax Withholding: Every employed person in the USA controls how much tax is withheld from their salary through Form W-4.

Deductions for Non-Working Spouses: Although a non-working spouse cannot be considered a dependent, they are eligible for certain tax deductions.

Tax Returns for Children: If your child is employed, they can file a separate tax return, and their income should not be mixed with the parents' income.

Unexpected Requests for Tax Returns: In various situations, such as renting a property or applying for a loan, a copy of your tax return may be required.

Complexity of Tax Rules: Tax rules in the USA frequently change, sometimes even retroactively, making their understanding and application particularly challenging.