This Blog provides timely tax articles as well as the latest tax news to keep you informed of tax law changes and related matters. Please note that all news articles are for informational purposes only and are not meant as tax advice. Please consult your tax consultant to know how any of these articles impact your specific situation.
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You should file your tax return on time. The IRS may charge a late filing penalty if you don’t timely file your return or six-month extension. If you are not able to pay the tax you owe by your original filing due date, the balance is subject to interest and a monthly late payment penalty. …
You can e-file (electronically file) your federal and state tax returns. Most tax preparers must e-file their clients’ tax returns. E-filing is not only fast, it is safe, convenient, and virtually error free. By combining e-file and direct deposit, you neither need to worry about your check getting lost in the mail, nor you need to go to …
Taxpayers with Foreign Assets May Have to File FBAR and FATCA Who needs to file an FBAR? Do you have a foreign bank account? Was the balance in your account(s) greater than $10,000 in total ? If the answer is yes to both, a U.S. taxpayer must file an “FBAR,” a Foreign Bank Account Report. …
Identity (ID) Theft and Protection Service Identity theft is very stressful for victims. Identity theft occurs when someone uses information about you without your permission. They could use your name and address, your date of birth, credit card or bank account numbers, Social Security number (SSN), medical insurance account numbers, driver’s license number, or any other …
The purpose of this article is to assist you in understanding the new tax law for 2018. On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA) into law. New official name: “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget …
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Latest Tax News
- More proposed regs. on qualified opportunity funds issuedon April 17, 2019 at 9:50 pm
- Can a state tax a trust based on the beneficiary’s residency?on April 17, 2019 at 8:15 pm
- Safe harbor issued for valuing pro sports tradeson April 11, 2019 at 10:00 pm
- AICPA asks government to issue more QBI deduction guidanceon April 11, 2019 at 6:45 pm
- Tax treatment of state and local tax refunds clarifiedon March 29, 2019 at 8:51 pm
- Procedure for obtaining EINs to change May 13on March 27, 2019 at 6:45 pm
- Final rules issued on penalty for nondisclosure of reportable transactionson March 26, 2019 at 8:30 pm
- IRS expands relief from underpayment penaltyon March 22, 2019 at 8:00 pm
- Proposed rules issued for information reporting for life insurance contract transactionson March 22, 2019 at 7:25 pm
- IRS reevaluating active trade or business requirement for spinoffson March 21, 2019 at 9:00 pm
- IRS’s Dirty Dozen scams — 2019 editionon March 19, 2019 at 9:30 pm
- First-year challenges of TCJA implementation require broader penalty reliefon March 15, 2019 at 9:10 pm
- Opportunities beckon in new qualified opportunity zoneson March 6, 2019 at 6:45 pm
- Treasury announces changes to tax regulatory processon March 6, 2019 at 5:35 pm
- Guidance proposed on FDII and GILTI deductionson March 5, 2019 at 6:30 pm