On March 13, 2019, the Tax Court found that not all tax forms are equal, in that the IRS doesn’t have to recognize and update your address when you use a new address on all IRS tax forms. Earlier this year I wrote a post about how to change your address with the IRS. The […]
Why you should keep your address updated with the IRS Read More »
Updated on January 25, 2109 from the IRS Newswire: The United States Tax Court’s website (www.ustaxcourt.gov) announced that the Tax Court shut down operations on Friday, December 28, 2018, at 11:59 p.m. and will remain closed until further notice. The IRS reminds taxpayers and tax professionals the Tax Court website is the best place to
I just received a very believable email from an unknown person who included attachments on the email. It’s well-known that spammers are attacking tax professionals trying to compromise their systems in order to gain access to sensitive taxpayer information. Luckily, we have a great IT department who can check before anyone opens these emails. The
Spam emails are on the rise! Read More »
Well, for being shutdown and running on a skeleton crew, the IRS has been BUSY today and delivered the final tax regulations for the new Section 199A tax deduction for flow-through income on individual tax returns. This is the new Qualified Business Income Deduction for tax years beginning after December 31, 2017 that came into
New IRS Regulations & Guidance for the Section 199A Deduction Read More »
The IRS released information today that should come as a relief to taxpayers and tax preparers as we start work on our 2018 tax returns. The IRS will be waiving the estimated tax penalty for taxpayers on their 2018 tax return who didn’t have enough withholding and estimated tax payments to cover their tax liabilities.
IRS waives some penalties on withholding and estimated tax payments Read More »
How to report your new address to the IRS and others to make sure you receive your annual tax documents.
How to report your new address to the IRS and others Read More »
Well, it took them longer than usual but the IRS has updated the rates used to calculate your mileage deductions. As a reminder, there are different rates depending on what type of driving you are doing. The business mileage rate is applicable for business purposes. This would be for activities such as your sole proprietorship
2019 Mileage Rates Updated by IRS Read More »
December is beginning, which means the year is ending. This also means it’s time to start your year-end tax planning. There are so many subjects that come under the year-end tax planning umbrella that I wanted to break it down into separate pieces. This post will focus on harvesting your losses.
Is it time to harvest your tax losses? Read More »
Well, I just realized it’s been a while since I updated my blog. It’s been a crazy 6 weeks so this update is well overdue. Here’s a recap of what’s been going on in my world. To start, the first 15 days of October were really busy around here. Having the corporate tax return deadline
We made it through the last tax deadline for calendar 2017! Read More »
If you’ve been following the tax journals or related social media accounts, you no doubt saw that the Tax Cuts & Jobs Act (“TCJA”) removed the deduction for business related entertainment expenses. There was a lot of concern that the meals portion of “Meals & Entertainment” expenses would also be denied because of some related
Most business meals are still deductible, subject to the 50% limitation Read More »