Sales Tax

The TCJA also benefits many small businesses while presenting new obstacles. In general, the revised rules for businesses take effect in 2018 and are permanent, unlike most changes for individuals.

Most of the key provisions likely to affect individual taxpayers take effect in 2018 (for taxes that will be reported by April 2019), but are scheduled to sunset after 2026. Keeping that in mind, here are the essentials you should know about.

The TCJA doubles increases the child tax credit (CTC) from $1,000 to $2,000 and raises the refundable portion of the CTC to $1,400. In addition, it authorizes a $500 nonrefundable credit for non-child dependents for taxpayers who don’t claim a CTC.

When will you get your IRS income tax refund? How quickly a taxpayer receives a refund also depends on when they file and whether they have requested a direct deposit of their refund, or a paper check. This is because during some time frames there is ...

Before the new tax reform law – the Tax Cuts and Jobs Act (TCJA) -- was finalized, Congress made a slight concession to residents of high-tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales ...

On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?

After the new tax reform law passed both the House and Senate, there was discussion about holding off the signing until the first week in January. Now, however, the President says he will stick by his Christmas pledge.

2018 could be the year the Supreme Court of the United States reconsiders Quill Corp. v. North Dakota, 504 U.S. 298 (1992), the seminal ruling that prohibits states from taxing remote businesses without an in-state presence.