The Internal Revenue Service announced in December that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with...
As practitioners get ready for the 2017 filing season, there is hope that next year will be better. That is because the 2017 filing season will involve new due dates, a result of years of advocacy by the profession. In one of the most significant pieces of tax...
Mention the word “taxes,” and you’re liable to send even your closest friends and family members scurrying in the opposite direction. Preparing your taxes can be about as fun as watching grass grow or paint dry, but the tax planning process is...
The Foreign Earned Income Exclusion Americans living and working abroad can make up to $101,300 of earned income tax-free. Earned income is what you get paid for working — wages or self-employment income. This is the foreign earned income exclusion. It is great. Your...
As part of his plan to cut taxes for all Americans, Donald Trump’s proposals calls for more than doubling the standard deduction for single and married taxpayers. While this certainly would save lots of people money, it’s not quite as big of a tax cut as...
WASHINGTON — As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In...
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