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 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 …
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
- IRS extends deadlines in N.C. counties affected by Hurricane Florence on September 17, 2018 at 5:45 pm
- IRS issues proposed regs. for GILTI inclusions on September 14, 2018 at 4:45 pm
- Deemed personal exemption amount introduced for various tax benefits on August 28, 2018 at 10:30 pm
- Proposed rules would curb avoidance of SALT deduction limit on August 24, 2018 at 4:15 pm
- IRS provides initial guidance on new Sec. 162(m) on August 22, 2018 at 5:00 pm
- D.C. Circuit upholds IRS unenrolled tax preparer program on August 17, 2018 at 3:45 pm
- Qualified business income deduction regs. proposed on August 8, 2018 at 9:30 pm
- Final regs. govern who can be a partnership representative on August 7, 2018 at 10:15 pm
- Ninth Circuit withdraws Altera opinion on August 7, 2018 at 9:15 pm
- IRS issues proposed regs. on 100% bonus depreciation on August 7, 2018 at 12:45 am
- Proposed regs. address several transition tax issues on August 1, 2018 at 8:45 pm
- Final rules govern adequate substantiation for charitable contributions on July 30, 2018 at 6:15 pm
- Stock-based compensation cost-sharing regs. valid on July 25, 2018 at 11:30 pm
- States sue over state and local tax deduction cap on July 17, 2018 at 7:18 pm
- Many tax-exempt organizations no longer need to list donor information on July 17, 2018 at 7:07 pm