Individual Taxpayer Identification Numbers (ITINs) that have not been used when filing a tax return at least once in the past three years will automatically expire on Dec. 31, 2017. There’s also a rolling expiration date affecting certain ITINs. The key number to look for
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The IRS recently reported an increase in charity scams since the rise in natural disasters over the last few months. Scammers use authentic-looking emails to direct people to fraudulent websites that ask for financial and personal information. The IRS website has a list of exempt
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The Social Security Administration stated there will be a 2 percent cost-of-living adjustment (COLA) to monthly Social Security and Supplemental Security Income benefits for 2018. This is the largest increase since 2012. Up to $128,700 in wages will be subject to Social Security taxes (up
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There is now a ton of media chatter about the recently introduced federal tax reform package being passed around in Washington, D.C. While it’s still early in the process, here are some of the key elements of the current proposal.
The IRS has postponed various tax deadlines for individuals and businesses in Florida, Georgia, Puerto Rico and the U.S. Virgin Islands, as well as in parts of Texas. They will have until Jan. 31, 2018 to file and pay the affected returns and taxes. The
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Disorganization usually spells disaster in most scenarios. This is especially true for finances. It’s time to get your bills, paycheck stubs, tax returns and bank statements in order.
If your business is incorporated, it may be a good idea for you to own the business real estate and lease it to your corporation. That’s because there are a number of tax and nontax concerns relating to real estate ownership. Before you acquire new
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Did you know that any amount of canceled debt is typically taxed as ordinary income? If you receive debt forgiveness for home, car or student loans, or credit card interest and debt, you may create a tax liability. There are some exceptions, like when debt
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Do you have too much of your employer’s company stock in your 401(k) or other retirement plan? It’s time to find out if you’ve made a smart or risky move.
Your business tax return could look a lot different depending on the circumstances of employee meals. Find out why and what you can do to get the most bang for your tax buck.
