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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 including wages, money in bank or other financial accounts, vehicles, real estate and other personal assets […]
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 2018. Under Rev. Proc. 2018-27, taxpayers will be allowed to treat $6,900 as the annual limitation instead of the […]
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 of companies (32 percent) are very ready for the new demands, while 68 […]
With the income tax deadline behind them, many Americans are eager to file away their financial records until next year. But experts advise not putting those documents away just yet — now is an opportune time to review them, make any necessary changes, and update your financial plan accordingly. There’s a simple logistical reason that […]
The AICPA’s Personal Financial Satisfaction Index (PFSi) reached a record high in the first quarter of 2018 — an indicator that Americans are still feeling positive about their financial situation, even despite recent stock market volatility. The PFSi increased 1.5 points (6.2%) over last quarter, reaching an all-time high of 26.1 points. It is up […]
Many U.S. corporations elect to use a fiscal year end and not a calendar year end for federal income tax reporting purposes. Due to a provision in the recently enacted Tax Cuts and Jobs Act (TCJA), a corporation with a fiscal year that includes Jan. 1, 2018 will pay federal income tax using a blended tax […]
Se Extiende Fecha Límite de Presentación de Impuestos Hasta el 29 de Junio para Víctimas del Huracán María en Puerto Rico y las Islas Vírgenes.
Income from virtual currency transactions must be reported on individual income tax return, and the IRS says it is scrutinizing these currencies more than ever before.
Most spreadsheet users would love to have a dollar for every time something has gone awry with an Excel spreadsheet. Sometimes it’s a power outage, or a computer crash, or simply closing the wrong document without saving. Fortunately in all versions of Excel you can hedge against this risk, but anyone using Excel 2010 and […]
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