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

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Owe Taxes?

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

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. …

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Why e-file and choose direct deposit?

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

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 …

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

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. …

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Identity Theft

By Shiv R. Jhawar, MAS, EA | Dec 12, 2017 | 1 Comment
Identity Theft

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 …

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Understanding Tax Cuts and Jobs Act

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

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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