Congress has passed tax reform that will take effect in 2018
Monday, January 15
Tax Reform in 2018Individual rule changes Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some of the most important items in the new bill that impact individual taxpayers.Limits itemized deductions. Man...
Small Business Filing Deadline Approaching Fast
Monday, January 15
Small Business Filing Deadline Approaching FastForm W-2s and 1099-MISCs are Due Jan. 31If you own your own business or have a side business in addition to your regular job, you may need to send out several IRS forms by Jan. 31 this year.The deadline is for forms you issue to employees and others ...
IRS Withholding Tables Frequently Asked Questions
Monday, January 15
IRS Withholding Tables Frequently Asked QuestionsQ: Why are these changes being made?A: The new withholding tables are needed to reflect the changes in tax rates and tax brackets, increased standard deduction and repeal of personal exemptions that were included in the new tax reform law signed in...
Updated 2018 Withholding Tables Now Available
Monday, January 15
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by FebruaryThe Internal Revenue Service today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the fi...
2018 Tax Filing Season Begins Jan. 29, Tax Returns Due April 17
Thursday, January 04
2018 Tax Filing Season Begins Jan. 29, Tax Returns Due April 17The Internal Revenue Service announced today 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 ac...
Stretch Out an Inheritance To Avoid Being Hit With a Big Tax Bill
Saturday, December 30
"Stretch Out" an Inheritance To Avoid Being Hit With a Big Tax Bill Inheriting a retirement account like a 401(k) or an IRA is more complicated tax-wise than if you’d been left a house or a set of golf clubs. Here’s a tip on how to use a “stretch out” to avoid being hit with a big tax bill.Stretc...