As Storm Clean-Up Begins, IRS Warns Taxpayers On Scams
After Hurricane Florence, the IRS has issued a reminder to taxpayers that criminals & scammers will try to take advantage of the generosity of taxpayers.
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Where, What & How To Donate After Hurricane Florence
Here are a few tips for taxpayers to keep in mind when helping out during Hurricane Florence.
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IRS Announces Tax Relief For Taxpayers Affected By Hurricane Florence
The Internal Revenue Service (IRS) has announced tax relief for victims of Hurricane Florence.
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Taxpayers Should Take Steps To Protect Important Documents
Earlier today, Hurricane Florence became a Category 4 major hurricane. It’s will probably make landfall on the U.S. East Coast later this week – likely on Thursday – bringing flooding rains and heavy winds. Tracking a storm can be unpredictable at best, but most models show the storm slamming the southeastern North Carolina coast. If it does…
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If You’re Betting On Football Season, Don’t Forget Taxes
This morning, I was greeted on my laptop with two words: Draft Day? It seems that my brother is eager to get our fantasy football season going. He’s got a point since the National Football League (NFL) officially kicked off its season last night. (A petty sister might note that his Patriots lost to her…
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Withholding Problems Continue As Draft Form W-4 Issued
The hallmark of the Tax Cuts and Jobs Act of 2017 (TCJA) was supposed to be its simplicity. By eliminating the personal exemption amounts and doubling the standard deduction, the theory was that taxpayers would have a tax return that was so simple that it could fit onto a postcard. In the weeks and months…
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Foreign Earned Income Exclusion Available For Combat-Zone Contract Workers
The Internal Revenue Service has announced that combat-zone contract workers may now qualify for the foreign earned income exclusion. Typically, if you are a U.S. citizen or a U.S. resident alien, you’re taxed on your worldwide income. However, certain taxpayers can exclude some or all foreign wages from tax under the foreign earned income exclusion. The exclusion…
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IRS Offers Guidance On Credit For Dependents And HOH Status
The Tax Cuts and Jobs Act (TCJA) made a number of changes that affect the tax burden on families. However, those changes did lead to some questions. The Internal Revenue Service (IRS) has announced that it intends to issue proposed regulations to clarify who is a qualifying relative for the new $500 credit for dependents…
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Report: More Taxpayers Will Owe Tax In 2019
It’s 2018: Do you know what your tax rate looks like? The Tax Jobs and Cuts Act (TCJA) was signed into law last year, with the promise that most taxpayers would get a tax break. However, the General Accounting Office (GAO) is warning that, unless taxpayers act to adjust their withholding, more than thirty million taxpayers will…
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Trump Administration Considers Indexing Capital Gains
Think we’re finished with tax breaks in 2018? Not so fast. Hot on the heels of tax cuts from the Tax Jobs and Cuts Act (TJCA), Congress is already looking at another round of changes that they’re calling Tax Reform 2.0. But, like a late-night infomercial, there’s more: The Trump administration is considering a change to…
