Tags » I.R.S.

State tax deduction

For years, taxpayers have been allowed to deduct their property taxes and either their state income taxes or their sales taxes.

The Tax Cuts and Jobs Act… 197 more words


New Jersey, IRS At Odds About Tax Deduction Relief Plan

SPRINGFIELD, N.J. (CBSNewYork) – New Jersey residents looking for property tax relief in the form of charitable donations may need a backup plan.

While Gov. … 391 more words


Tax Reform Update—Here’s What to Expect

The IRS is working on implementing the changes created by the Tax Cuts and Jobs Act (TCJA).  Here are some of the major tax reform changes you can expect. 306 more words


2 Million ITINs to Expire This Year

With more than 2 million Individual Taxpayer Identification Numbers (ITINs) set to expire at the end of 2018, the Internal Revenue Service today urged affected taxpayers to submit their renewal applications soon to beat the rush and avoid refund delays next year. 1,179 more words


Watch for Scams During Hurricane Season

With hurricane season running through November 30, taxpayers should remember that criminals and scammers often try to take advantage of generous taxpayers who want to help disaster victims. 248 more words


Employee Owners and Accountable Plans

A famous quote by Robert A. Heinlein is “When one teachestwo learn.”

In my experience, with almost every tax return I prepare or tax class I teach, I learn new ways to help others -financially. 1,146 more words

Tax Planning

Form 5472 – Everything You Need To Know (Part I)

This tax filing season brought a wave of questions about Form 5472.  Interest in this complex form was renewed because of recent Treasury Regulations requiring that it be filed by single-member US LLC’s that are foreign owned. 1,025 more words

Foreign Corporation