One of the most important changes under the 2017 tax act was a new income rate structure under which individuals are taxed. Lower tax rates will generally be applied to higher tax brackets.
If notified timely, the IRS can help stop fraudulent tax returns being filed in clients’ names, which otherwise might delay legitimate tax refunds. This action to help protect taxpayers requires the cooperation of the tax professional with the IRS.
Individuals, including sole proprietors, partners and S corporation shareholders, may need to pay quarterly installments of estimated tax unless they owe less than $1,000 when they file their tax return or they had no tax liability in the prior year ..
Tax professionals can develop their skills and present themselves to clients and prospects as generalists, specialists in certain industries or a blend of the two. It’s never too late to educate yourself and catch up with the tax (and accounting) requirements in certain industries, such as commercial fishing. The following article discusses some general principles […]
4 Data Security Tips for Tax Professionals By Isaac M. O’Bannon, Managing Editor Tax professionals fall victim to identity theft, too. In recent years, hundreds of tax professionals experienced data thefts or breaches that exposed their clients’ personal information to cybercriminals and to tax-related identity theft. As cybercriminals increasingly target this data, the IRS and […]
Although we have the decision from SCOTUS, many questions remain. How will the states proceed with remote seller legislation? What will the effects be of the South Dakota remand? Will Congress step in and pass any federal legislation?
The Internal Revenue Service has announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2018.
An indictment was unsealed on Wednesday, Sept. 6, 2018, charging 20 individuals and entities for their alleged involvement in a transnational criminal organization that victimized over 2,000 people in the United States through a fraudulent India ...