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
- State tax law cannot discriminate against federal pensioners, Supreme Court holdson February 20, 2019 at 8:00 pm
- Taxpayers will file QBI deduction computation with IRS next yearon February 15, 2019 at 8:30 pm
- Bonus depreciation safe-harbor rules for vehicles issuedon February 13, 2019 at 8:10 pm
- Identity protection PIN program expandson February 8, 2019 at 6:30 pm
- IRS issues updates on post-shutdown activitieson January 30, 2019 at 8:00 pm
- Government shutdown ends in time for tax seasonon January 28, 2019 at 3:30 pm
- Paid preparer’s checklist expands to include head-of-household, other tax credit questionson January 23, 2019 at 10:00 pm
- Qualified business income deduction regs. and other guidance issuedon January 23, 2019 at 12:45 am
- Some individual taxpayers get relief from underpayment penaltyon January 17, 2019 at 7:30 pm
- Final regulations govern Sec. 965 transition taxon January 16, 2019 at 10:15 pm
- Half of IRS employees to be recalled during tax seasonon January 15, 2019 at 11:00 pm
- IRS announces Free File launchon January 11, 2019 at 10:00 pm
- IRS sets start date for tax season, will issue refunds during government shutdownon January 8, 2019 at 2:55 am
- Sec. 199A: Questions and answerson December 20, 2018 at 7:30 pm
- Government shutdown would halt many IRS operationson December 19, 2018 at 8:15 pm