Provisions in The Tax Cuts and Jobs Act of 2017

Final Business/Corporate/Partnership Provisions in Tax Cuts and Jobs Act of 2017 Below is a chart from our friends at WesternCPE that briefly summarizes the major provisions affecting our business clients, including corporations, partnerships, and sole proprietorships. Business Provision Tax Cuts and Jobs Act of 2017 Effective date Unless otherwise indicated, business changes are permanent, generally, […]

tax-scams

Tax Scams – How to Protect Yourself

There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways criminals pose as the IRS to trick you out of your […]

IRS Cash Payment

IRS Offers New Cash Payment Option

Cross References • IR-2016-56, April 6, 2016 The Internal Revenue Service has announced a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, individuals can now make a payment without the need of a bank account or credit card at […]

IRS Due Date Changes

Changes in Tax Year 2016 filing dates

Dear Clients, The IRS has changed some of the filing deadlines for tax returns and informational documents, effective with your 2016 returns. This means that you may need to plan to get us your information quite a bit sooner than before in order to file your 2016 return timely. Please note that pending legislation for […]

IRS Horse Racing

Horse Racing Activity Not a Hobby

Cross References • Roberts, 7th Circuit Court of Appeals, April 15, 2016 • T.C. Memo. 2014-74 • IRC §183 The Tax Court ruled a taxpayer was not engaged in a race horse activity for profit and therefore disallowed losses used to offset other income. The 7th Circuit Court of Appeals recently reversed that ruling. The taxpayer […]

IRS

IRS Identifies Five Ways to Spot Scam Phone Calls

The IRS has issued a consumer alert providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS. These callers may demand money or may say the taxpayer has a refund due and try to trick the person into sharing private information. These con artists can […]

New IRS YouTube Video Discusses Taxpayer Bill of Rights

http://www.irs.gov/uac/Newsroom/New-YouTube-Video-Discusses-Taxpayer-Bill-of-Rights WASHINGTON ― The Internal Revenue Service today released a new YouTube video encouraging taxpayers to learn about the Taxpayer Bill of Rights. The video, featuring IRS Commissioner John Koskinen, provides information to taxpayers about their rights under the nation’s tax laws. “I’m pleased that we now have a Taxpayer Bill of Rights, which lays […]