Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
Are you scared to look your tax professional in the eye? The deadline for taxpayers who requested an automatic six-month filing extension is fast approaching–and if Twitter is to be believed, many taxpayers still have to get their information to their tax preparers. Remember that most taxpayers on an extension must file their tax returns on…
Hurricane Dorian made landfall in the Bahamas over the weekend. The category 5 storm has been called the strongest storm to ever threaten the east coast with maximum sustained winds of over 185 mph. According to the National Hurricane Center, “Although gradual weakening is forecast, Dorian is expected to remain a powerful hurricane during the next couple…
Late last night, Hurricane Dorian became a Category 4 hurricane with the maximum sustained winds of near 145 mph (225 km/h). Dorian is expected to remain a powerful hurricane and will likely make landfall on the U.S. East Coast later this week – bringing flooding rains and heavy winds. While the storm is unpredictable, the National Hurricane…
When you see a headline or come across a snippet involving federal agencies like the Internal Revenue Service (IRS) and U.S. Citizenship and Immigration Services (USCIS), don’t assume that terms are interchangeable and don’t be fooled into thinking that the same kinds of treatment apply across the board. A policy alert issued this week by the USCIS…
Earlier this month, the Internal Revenue Service (IRS) issued a reminder to taxpayers with significant tax debts that their passports could be at risk. Now, IRS Commissioner Charles Rettig has granted a reprieve for some taxpayers. A memo (TAS-13-0819-0014) from Acting National Taxpayer Advocate Bridget Roberts has advised that there is “a temporary change” related to the…
The Internal Revenue Service (IRS) has issued a reminder to taxpayers with significant tax debts: reach out now to avoid losing your passport. On December 4, 2015, the Fixing America’s Surface Transportation Act, or “FAST Act,” became law. Under the FAST Act, the State Department can yank passports from delinquent taxpayers after notification from the IRS that there’s a…
Remember all of the times that the Internal Revenue Service (IRS) reminded you to do a payroll checkup? And remember that you didn’t? The IRS is hoping you’ll reconsider this year. The agency has launched a new Tax Withholding Estimator that they hope will make it easier for everyone to figure the right amount of tax withheld…
Just six (or so) months after the Internal Revenue Service (IRS) released the much talked about – and maligned – form 1040 for the 2018 tax year, there’s a new draft in town. Here’s a quick peek at the latest version, intended for the 2019 tax year: Still determined to inspire tax professionals to kick their copy…
Over 4.3 million people ride the New York City subway system every day, considered to be one of the most complex subway systems in the world. But even the New York City subway system has nothing on our tax system. The Taxpayer Advocate Service (TAS) has mapped out the modern United States tax system – and it makes…
“Taxes are what we pay for a civilized society.” That quote from Supreme Court Justice Oliver Wendell Holmes, Jr., can be found over the main entrance of the Internal Revenue Service office in Washington, D.C., noted Judge Robin Rosenbaum, writing for the Eleventh Circuit Court of Appeals. But, she added, “even Justice Holmes would likely…