BLOG

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.

To check out various websites with useful tax and other resources, click on Links.

To watch IRS-produced videos on various tax topics, click on Video.

Looking for something in particular? Click on Contact to send your suggestion/comment.

blog

Owe Taxes?

By Shiv R. Jhawar, MAS, EA | Dec 28, 2017 | 0 Comments
taxes

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. …

Owe Taxes?Read More »

Why e-file and choose direct deposit?

By Shiv R. Jhawar, MAS, EA | Dec 28, 2017 | 0 Comments
e-file

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 …

Why e-file and choose direct deposit?Read More »

FBAR

By Shiv R. Jhawar, MAS, EA | Dec 12, 2017 | 0 Comments
FBAR

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. …

FBARRead More »

Identity Theft

By Shiv R. Jhawar, MAS, EA | Dec 12, 2017 | 0 Comments
Identity Theft

Identity theft is very stressful for victims. Identity theft often takes the form of credit card fraud, tax fraud, phone or utilities fraud, medical fraud, loan or lease fraud, and bank fraud. Tax-related identity theft occurs when your SSN has been fraudulently used for a tax refund or a job. If your e-filed tax return is …

Identity TheftRead More »

Understanding Tax Cuts and Jobs Act

By Shiv R. Jhawar, MAS, EA | Dec 10, 2017 | 3 Comments
Understanding

The purpose of this article is to assist you in understanding the new tax law. 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 for fiscal …

Understanding Tax Cuts and Jobs ActRead More »

Questions & Answers