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. 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 …
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Latest Tax News
- 2019 standard mileage rates announced on December 14, 2018 at 7:45 pm
- Proposed regs. govern tax on base-erosion payments on December 14, 2018 at 6:30 pm
- IRS explains disallowance of qualified transportation fringe benefits for parking on December 11, 2018 at 6:34 pm
- Initial guidance issued on Sec. 83(i) deferral election for private company equity grants on December 7, 2018 at 10:01 pm
- Accounting method change procedures for book-tax conformity rule on November 30, 2018 at 10:05 pm
- Proposed foreign tax credit regulations issued on November 29, 2018 at 8:05 pm
- IRS issues guidance on withholding for 2019 on November 27, 2018 at 10:30 pm
- Proposed regs. outline new business interest expense limitation on November 27, 2018 at 8:30 pm
- Estate and gift exclusion clawback addressed in proposed regs. on November 21, 2018 at 6:40 pm
- UNICAP rules on negative adjustments finalized on November 19, 2018 at 7:35 pm
- Inflation adjustments and tax tables issued for 2019 on November 15, 2018 at 8:45 pm
- New IRS commissioner brings practitioner’s perspective to role on November 13, 2018 at 8:15 pm
- Social Security wage base set for 2019 on November 6, 2018 at 9:00 pm
- Tax preparer due diligence rules are finalized on November 6, 2018 at 6:05 pm
- Inflation adjustments issued for qualified retirement plans on November 1, 2018 at 7:10 pm