The Internal Revenue Service (IRS) recently announced “millions” of Individual Taxpayer Identification Numbers (ITINs) will expire in 2019.
Navigating the responsibilities that come with closing an estate is not an easy process. In addition to dealing with heirs and creditors the individual in charge of the estate must also deal with the Internal Revenue Service (IRS).
The president of Morehouse College has stated that he will cover millions of dollars of student loan debt for graduates of the university. The offer is a kind gesture that can pay off rewards in the future. The beneficiaries will be able to move forward with their future without the heavy burden of student loans. Instead of working to pay back this debt, these individuals can focus on the future.
Tax Day is upon us. For those who have completed and filed their tax returns, it may be a good idea to take a moment to review withholdings for 2019.
Tax Day is less than a week away. If you have not gotten your tax forms in order yet, you may want to consider filing for an extension.
The Internal Revenue Service (IRS) has increased its efforts to crackdown on fraud. The push began in 2015 when tax fraud was at "near crisis" levels. This caused the IRS to pair up with state officials in an effort to better detect false returns.
The Tax Cuts and Jobs Act (TCJA) led to major tax reform. We are starting to see the impact of these changes as individuals begin filing their tax returns for the 2018 tax year. Because the changes were so large, it is helpful to focus in on specific areas to understand how the TCJA affects that part of a taxpayer’s tax returns.
The Internal Revenue Service (IRS) is up and running after the recent government shutdown. Although another government shutdown may be in the future, a recent publication by CNBC notes the temporary closure of the office is not likely to result in a decreased audit risk. This is because the agency has implemented various technological advances to review returns and flag discrepancies.
Getting ready to file your 2018 tax returns with the Internal Revenue Service (IRS)? If so, you have likely noticed the process is a bit different this year. 2017 marked some big changes — most notable in the tax world the passage of the Tax Cuts and Jobs Act (TCJA). This new law was the biggest reform to the United States Tax Code in decades.
As 2018 comes to a close, business owners are likely gathering paperwork and reviewing documents in preparation to navigate the first set of tax filings under the new laws passed with the Tax Cuts and Jobs Act (TCJA). Although changes are complex, three specific things to keep in mind that impact a large number of businesses include: