The Internal Revenue Service has announced that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The IRS will begin accepting tax returns on Jan. 29, with...
Every year, millions of taxpayers receive correspondence from the IRS after submitting their tax return. Although some notices are sent at random to ensure taxpayer compliance with tax code, many of these letters can be anticipated by the tax professional. One of the...
Republicans released the final version of their tax reform package on Friday. The bill aims to overhaul the tax code and ease the tax burden on Americans and businesses. Congress is on pace to have the bill on President Donald Trump’s desk for approval sometime next...
The U.S. Senate narrowly approved a tax overhaul on Saturday, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich while offering everyday Americans a mixed bag of changes. In what would be the...
Have you assessed an estimated tax penalty for tax year 2016? You still have time to reduce or eliminate the penalty for 2017 and future years. To help raise awareness about the growing number of estimated tax penalties, the IRS has launched a new “Pay as You Go, So...
The Trump administration on Wednesday released a broad outline of a plan to make major changes to the tax code. Many important details were left for Congress to hash out, including how to pay for the tax cuts and which deductions to eliminate. Some key elements of the...
Recent Comments