Tag Archives for " tax news "

Congress Ends 2019 Passing Last-Minute Tax Changes

  • January 10, 2020

In the eleventh-hour of 2019, the House passed a $426 billion tax cut plan that would revive a hodgepodge of benefits known as extenders, kill a controversial tax on church parking, rescind several Obamacare

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Prepare for Filing 2019 Federal Income Tax Returns

  • December 16, 2019

Taxpayers and tax professionals can act right now to avoid any tax-time surprises and ensure smooth processing of their 2019 federal income tax returns, with these handy reminders and suggestions from

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What are IRS Series 668 Forms and Which is the Worst?

  • October 4, 2019

(Hint: Wage Garnishment)IRS Series 668 Forms – 668A, 668D, 668W, 668Y, 668Z – are notices that the IRS sends a taxpayer advising of an action the IRS has initiated against them or the release of such

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Can the IRS Garnish My 1099 Earnings?

  • July 12, 2019

Yes! IRS 1099 Non-Wage Garnishment works similarly to W2 Wage Garnishment but no employer is involved. Because of that, there are some key differences.If you owe taxes to the IRS from a prior tax year,

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Paycheck Checkup Prevents a Tax-Time Surprise!

  • July 11, 2019

It’s important to check your federal income tax withholding now to avoid an unexpected tax bill or penalty with next year’s return. The IRS Withholding Calculator can help you conduct a Paycheck Checkup.Basics

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What Taxpayers Really Think about the IRS

  • July 3, 2019

For the last two years, the Internal Revenue Service has surveyed taxpayers to find out what makes them comply with their tax obligations. The study – called the “Comprehensive Taxpayer Attitude Survey”

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Celebrity Attorney Adds Tax Evasion to His Web of Crime

  • July 3, 2019

IRS Terror Tale: Celebrity Attorney Michael Avenatti Faces a LOT of Prison Time for Tax CrimesMichael Avenatti has been a high-profile attorney for decades but only recently stepped into the public eye

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Tracking Down IRA Basis: A Gold Mine for Beneficiaries

  • May 17, 2019

No one likes to pay taxes unnecessarily, but that's what a lot of people who inherit IRAs wind up doing. Failing to track down the IRA basis associated with an inheritance can be a costly mistake.IRA basis

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10 Tax Breaks for the Middle Class

  • May 17, 2019

If you believe that tax breaks are reserved for the well-off: hedge fund managers and companies with offshore subsidiaries, you’re likely paying too much to the IRS.Lawmakers have enacted dozens of tax

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Standard Tax Deduction: How Much It Is and When to Take It

  • March 29, 2019

The standard deduction reduces your taxable income. For 2018 taxes, the standard deduction is $12,000 for single filers and married filers filing separately, $24,000 for married filers filing jointly and

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