August 18, 2016
The IRS will never call to demand payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes. The will not contact you by email, either.
August 18, 2016
As the final weeks of summer tick away, back-to-school sales are ramping up and it's time to think about getting those kids back in the classroom. It's also a good time to think about a variety of tax breaks and deductions available for qualifying ...
August 18, 2016
After the economy, the other issues cited by small business owners as most important follow in order as health care reform (10%), tax reform (9%), jobs and employment (6%), and immigration (6%).
August 18, 2016
Clinton also favors an expanded credit for child care expenses, although not quite as expansive as the proposals made by Trump. She also expects to hold the line on tax increases for the vast majority of Americans. There was no mention in her speech ...
August 17, 2016
Tired of Congressional inactivity on internet sales tax, a growing number of states have enacted legislation enabling them to tax sales made by out-of-state sellers. The majority of these laws maintain that a connection between a state and seller is ...
August 16, 2016
The email scheme is the latest in a series of attempts by fraudsters to use the IRS or other tax issues as a cover to trick people into giving up sensitive information such as passwords, Social Security numbers or credit card numbers or to make ...
August 16, 2016
Currently available as a free trial version, the cloud-based system offers early access to the brand-new TaxWise Online interface, the comprehensive bilingual TaxWise forms library, and complete calculations so that preview users can prepare sample ...
August 10, 2016
If taxpayers have an expired ITIN and don’t renew before filing a tax return next year, they could face a refund delay and may be ineligible for certain tax credits, such as the Child Tax Credit and the American Opportunity Tax Credit, until the ITIN is r
August 10, 2016
One of the biggest and best fringe benefits often isn’t technically thought of as a “fringe benefit.” It’s the matching contributions made to a 401(k) plan account by an employer on behalf of participating employees. Witt this add-on, an employee’s ...
August 9, 2016
Trying to reclaim some momentum in his presidential election campaign, Donald Trump, the Republican candidate, is tweaking his tax plan. In a far-ranging speech on economic policies on August 8, Trump proposed cuts in individual tax rates, although not as drastic as in previous proposals. The billionaire also advocated tax reforms in line with the...…
August 8, 2016
National Taxpayer Advocate Nina E. Olson and U.S. Rep. Jim Renacci, a member of the House Ways & Means Committee, will hold a public forum to discuss what taxpayers want and need from the IRS to comply with their tax obligations. Rep. Renacci is ...
August 4, 2016
Generally, the tax exclusion applies to reimbursements covering costs that would have been deductible as job-related moving expenses paid or incurred by employees on their personal tax returns. And those requirements are somewhat convoluted.