IRS Amnesty Program for Hidden Foreign Accounts Ends September 2018 If you have hidden foreign bank accounts, you have until September 28, 2018, to disclose them and come into compliance with the tax law, to avoid prosecution. The IRS is finally ending its “amnesty” program from 2009, and if you are found guilty of trying...
The IRS “Dirty Dozen” Details The Most Devilish Tax Scams Out There. Warn Your Family, Friends, And Business Associates Not To Fall For Fraud! Every year the IRS compiles its list of “Dirty Dozen,” which lists the common scams that taxpayers may encounter anytime but become most popular during “tax season.” Some tricks made their...
Having a yacht can be a great way to unwind while entertaining friends, family and clients, but turning a part time passion into a full time business can have unintended consequences and impact your tax bill. Here’s what you need to know so you won’t be drowning in tax liability. The IRS Disinguishes Between Passive...
IRS issues updated 2018 withholding tables In the wake of passage of the Tax Cuts and Jobs Act (TCJA) late last year, the IRS has taken one of the first critical steps to institute the law’s overhaul of the federal income tax regime. The IRS has released updated withholding tables that indicate how much employers...
Are You Leaving Tax Money On The Table? According to the IRS the five most popular tax deductions are: State and local taxes Gifts to charity Home-mortgage interest Tax-preparation fees Medical and dental expenses But what might be the most overlooked or forgotten deductions and less well known tax credits that could make a difference...
