This week the IRS issued the final regulations on the deductibility of charitable contributions which generate state and local tax credits.
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The IRS reminded taxpayers who pay estimated taxes that Monday, June 17, is the deadline for the second estimated tax payment for 2019.
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TurboTax tricked active military members into paying for tax-filing services that should have been free to them, according to lawsuit
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The IRS has issued guidance providing additional details about investment in qualified opportunity zones.
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Tax-related identity theft occurs when a thief uses someone’s stolen Social Security number to file a tax return and claim a fraudulent refund. The victim may be unaware that this has happened until they e-file their return.
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In Revenue Ruling 2019-11, the IRS provided four examples illustrating how the long-standing tax benefit rule interacts with the new SALT limit to determine the portion of any state or local tax refund that must be included on the taxpayer’s federal income tax return.
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Beginning May 13, 2019, the EIN application process is revised by disallowing the use of an EIN as a responsible party’s TIN on Form SS-4. The change will prohibit entities from using their own EINs to obtain additional EINs.
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Reviewing withholding is especially important if people did a Paycheck Checkup in 2018 and adjusted their withholding during the middle or late in the year. Another review early this year can help make sure they’re having the right amount withheld for the rest of 2019.
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Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, 2019.
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