If own property like real estate that has appreciated substantially in value, you might owe a large capital gain if you sell the property. In addition to paying the maximum 20% tax rate on long-term gains if you’re in the top ordinary income tax bracket..
“The AICPA is concerned about the planned changes to the transcript process and potential delays it would cause in a tax preparer’s ability to obtain transcripts and timely assist taxpayers."
This chart shows an estimated timeline for when a taxpayer is likely to receive their refund. If yours is delayed, use the "Where's My Refund?"tool on the IRS website - Or download the IRS2Go app to check your refund status.
Effective Jan. 1, 2018, exchanges of personal or intangible property such as machinery, equipment, vehicles, artwork, collectibles, patents, and other intellectual property generally do not qualify for nonrecognition of gain or loss as like-kind ...
Charities are expected to receive fewer donations this year as a result of the new tax laws that, among other things, eliminated or sharply reduced the tax benefits of charitable giving for many Americans.
Last December’s tax-reform bill upends conventional tax-planning strategies and dramatically changes the landscape for this year’s tax filings. The good news is that there is still time to ease the pain of the upcoming filing season – even this late ...
The scam is especially problematic for businesses whose employees might open the malware because this malware can spread throughout the network and potentially take months to successfully remove.
With passage of the Tax Cuts and Jobs Act (TCJA) in early 2018, veterinary practice owners are hopeful of reduced tax burden, enhanced by the prospect of a 20% deduction on “Qualified Business Income” (QBI) flowing through from Sub S Corporations, LLCs, Partnerships and Sole Proprietorships. And everyone is cautious, because there are complications to […]