Tag Archive for: taxpayers

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Law change affects moving, mileage and travel expenses

The Internal Revenue Service today provided information to taxpayers and employers about changes from the Tax Cuts and Jobs Act that affect: Move related vehicle expenses Un-reimbursed employee expenses Vehicle expensing Changes…
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Businesses Get More Time to Challenge IRS Levies

Individuals and businesses have additional time to file an administrative claim or to bring a civil action for wrongful levy or seizure, according to the Internal Revenue Service. An IRS levy permits the legal seizure and sale of property…
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IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced on Thursday that it is modifying the annual limitation on deductions for contributions to a health savings account (HSA) allowed for taxpayers with family coverage under a high-deductible health plan (HDHP) for calendar year…
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Only 32% of Businesses Say They’re Ready for Tax Reform Changes

The U.S. Tax Cuts and Jobs Act of 2017 is now in effect, but its implementation and impact on businesses is just starting to unfold. A survey of CFOs by financial recruitment firm Robert Half Finance & Accounting shows only about one-third…
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Need More Time for Your Taxes? A 6 Month Extension is Easy

Taxpayers who can't meet the tax filing deadline can use options available via Free File on IRS.gov, to file an extension that gives six more months. The tax deadline this year is April 17. Taxpayers who submit Form 4868, Application for…
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Avoid the Rush: Some Taxpayers May Need Prior-Year Tax Data

The Internal Revenue Service today reminded taxpayers who have changed tax software products that they may need information from their 2016 tax return to complete their taxes this year. It’s always a good idea to keep copies of previously-filed…
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IRS Issues Urgent Warning On New Tax Refund Scam

Just when you thought you'd read about all of the tax scams: The Internal Revenue Service (IRS) is warning taxpayers about a new - and growing - scam involving erroneous tax refunds being deposited into real taxpayer bank accounts. Then the…
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Important change regarding to the category “Meals and Entertainment”

As per Tax Cut Jobs Act (Tax Reform) which was signed on December 22th, there is a change regarding to the category “Meals and Entertainment”.  Until 2017, 50% of annual amount of this category was deductible. Starting on 2018 this category…
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Filing taxes in 2018: Important dates you need to know related to your taxes

In general, all businesses operating in the U.S. are required to report their activities to the IRS by filing annual tax returns. The due date and type of tax return that is filed depends on the type of business entity. If a business…