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Last updated on Tuesday, December 11, 2018
WASHINGTON — The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE) accounts. Eligible individuals may now put more money into their ABLE account and also roll money from their qualified tuition programs (529 plans) into their […]
Last updated on Tuesday, December 11, 2018
WASHINGTON ― With the approach of the holidays and the 2019 filing season, the Internal Revenue Service, state tax agencies and the nation’s tax industry warned people to be on the lookout following a surge of new, sophisticated email phishing scams. Taxpayers saw many more phishing scams in 2018 as the IRS recorded a 60 […]
Last updated on Tuesday, December 11, 2018
Get Ready for Taxes: Get 2018 tax documents ready for upcoming filing season #taxtime #tax #getrady #newtaxlaw IR-2018-225, November 19, 2018 WASHINGTON — The IRS reminds taxpayers to keep a copy of their past tax returns and supporting documents for at least three years. Certain key information from their prior year return may be required […]
Last updated on Tuesday, December 11, 2018
Like-kind exchanges now limited to real property #1031exchanges #likekindexchange #newtaxlaw WASHINGTON — The Internal Revenue Service today reminded taxpayers that like-kind exchange tax treatment is now generally limited to exchanges of real property. The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business and individual […]
Last updated on Tuesday, December 11, 2018
WASHINGTON — The Internal Revenue Service today reminded employers and other businesses that Jan. 31 remains the filing deadline for wage statements and independent contractor forms. The Protecting Americans from Tax Hikes (PATH) Act of 2015 started a requirement for employers to file their copies of Form W-2, Wage and Tax Statement, and Form W-3, […]
Last updated on Tuesday, December 11, 2018
IRS Tax Tip 2018-180, November 21, 2018 When disaster strikes, many business owners might find themselves needing to reconstruct records. This will help them prove a loss, which may be essential for tax purposes, getting federal assistance, or insurance reimbursement. Here are tips for businesses that need to reconstruct their records: To create a list […]
Last updated on Monday, November 26, 2018
When people are done giving thanks at the dinner table, many start another kind of giving. The annual Giving Tuesday happens the week after Thanksgiving to kick off the season of charitable giving. This year, Giving Tuesday falls on Tuesday, November 27. Taxpayers may be able to deduct donations to tax-exempt organizations on their tax […]
Last updated on Tuesday, September 18, 2018
WASHINGTON — Hurricane Florence victims in parts of North Carolina and elsewhere have until Jan. 31, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying […]
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