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
- Supreme Court holds North Carolina cannot tax truston June 21, 2019 at 8:05 pm
- Virtual currency not FBAR reportable (at least for now)on June 19, 2019 at 6:30 pm
- W-2 methods proposed for Sec. 199A(g) deduction by agricultural co-opson June 18, 2019 at 9:00 pm
- Final HRA rules permit integration with individual health insuranceon June 17, 2019 at 6:45 pm
- Final rules govern GILTI, Subpart F income, and foreign tax creditson June 17, 2019 at 6:15 pm
- Congress approves IRS reform bill, drops Free File languageon June 14, 2019 at 4:42 pm
- SALT deduction cap rules finalized, safe harbor proposedon June 12, 2019 at 5:10 pm
- Ninth Circuit upholds IRS cost-sharing regulationon June 10, 2019 at 9:45 pm
- Changes coming to tax transcript availabilityon June 4, 2019 at 11:00 pm
- IRS issues draft of revised Form W-4 for 2020on May 31, 2019 at 8:00 pm
- 2020 limits on HSA contributions are issuedon May 28, 2019 at 3:15 pm
- Rules for certified professional employer organizations finalizedon May 24, 2019 at 4:15 pm
- 2019 inflation-adjusted vehicle depreciation limits and income inclusions issuedon May 21, 2019 at 8:35 pm
- IRS corrects error in Schedule D tax calculation worksheeton May 17, 2019 at 6:15 pm
- IRS extends filing deadlines for CCH customerson May 14, 2019 at 10:00 pm