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 …
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, but it is also 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, …
Taxpayers with foreign bank accounts May Have to File FBAR and FATCA Do you have a foreign bank account? Was the balance in your financial account(s) greater than $10,000 in total at any time during the calendar year? If the answer is yes to both, a U.S. taxpayer must file …
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 …
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 …
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Latest Tax News
Use of standard mileage rate, other rules are updated for TCJA
on November 15, 2019 at 9:13 pm
IRS commissioner seeks to enhance taxpayer contacts, target enforcement
on November 14, 2019 at 9:44 pm
Automatic accounting method change procedures updated
on November 8, 2019 at 6:01 pm
IRS posts 2020 inflation adjustments and tax tables
on November 6, 2019 at 9:21 pm
Retirement plan contribution limits increase for 2020
on November 6, 2019 at 7:48 pm
TIGTA outlines IRS challenges for 2020
on October 18, 2019 at 8:39 pm
Taxpayers may deduct casualty losses in prior years
on October 14, 2019 at 5:40 pm
IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’
on October 9, 2019 at 8:42 pm
CFC downward attributions get safe harbors
on October 1, 2019 at 10:38 pm
IRS issues 2019 to 2020 per-diem rates for traveling away from home
on September 25, 2019 at 6:54 pm
Safe harbor allows QBI deduction for rental real estate businesses
on September 24, 2019 at 10:19 pm
Final regs. loosen 401(k) hardship distribution requirements
on September 20, 2019 at 7:05 pm
Regulations clarify bonus depreciation treatment
on September 13, 2019 at 9:45 pm
Corporations have short period to apply for IRS CAP program
on September 12, 2019 at 7:04 pm
Built-in gains and losses subject of new proposed regs.
on September 10, 2019 at 4:15 pm