On 2/9/18, the U.S. government passed a $400 billion budget bill that retroactively renews about 30 tax breaks that expired at the end of 2016, allowing taxpayers to claim them on the 2017 returns they file this year. The IRS
Category: Tax Update
IRS Starting Accepting Tax Returns Today 1/29/18
IRS is Now Accepting Returns The IRS is now accepting tax returns today, January 29. Returns that were efiled prior to January 29 and held in the IRS queue, will now be transmitted to the IRS in the order they
The IRS has Released the 2018 Income Tax Withholding Tables
The IRS has updated the income-tax withholding tables for 2018 to reflect changes made by the new tax law such as the increase of the standard deduction, repeal of personal exemptions and changes in tax rates and brackets.
2018 Tax Filing Season Starts January 29th
The Internal Revenue Service (IRS) announced today that the tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The tax deadline will be April 17 this year, so taxpayers will have
Tax News for 2018 Filing Season
The Internal Revenue Service (IRS) has not yet announced the date that it will begin accepting individual tax returns for the 2018 tax filing season for 2017 tax returns. As the IRS does every year, it’s continuing to update its
2018 Tax Reform – Tax Law Changes
On December 22, 2017 the President signed into law H.R. 1 (officially titled ‘An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018’). The legislation was originally
Efile Ends November 18th
Reminder: E-File Closes November 18. Returns will need to be filed on paper. Taxpayers, including those in disaster areas, who want to file a 2016 tax return electronically have a little over a week left. To prepare the e-filing system
Where’s My Refund – Contacting the IRS about Refunds for Held Up Returns
Where’s My Refund for Held Up Tax Returns “Where’s My Refund?” will be updated on Feb. 18 for the vast majority of early filers who claimed the Earned Income Tax Credit or the Additional Child Tax Credit. Before Feb. 18,
Do I need a driver’s license number to file a return?
Federal Requirements You do not need a driver’s license number to file a federal return. Some states may request your driver’s license number for state tax returns because they have the ability to match state records and help confirm your
Fourth Quarter Estimated Taxes Due Jan 17th
What are Estimated Taxes? Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also