Tag Archive for: tax

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How the new tax law affects tax returns next year

The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2018 tax return and avoid surprises when they file next year under the new tax law. This is the first in a series of reminders…
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Helping taxpayers to understand the different filing statuses

Taxpayers don’t typically think about their filing status until they file their taxes. However, a taxpayer’s status could change during the year, so it’s always a good time for a taxpayer to learn about the different filing statuses and which…
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New employer tax credit for paid family and medical leave

Today the IRS announced that eligible employers who provide paid family and medical leave to their employees may qualify for a new business credit for tax years 2018 and 2019. In addition, eligible employers who set up qualifying paid family…
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For people involved in the sharing economy…

For people involved in the sharing economy: Do a ‘Paycheck Checkup’ now, avoid a surprise year-end tax bill. The Internal Revenue Service urges anyone working in the sharing economy to perform a Paycheck Checkup now to avoid an unexpected…
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Reminder for extension filers: Oct. 15 is just around the corner

Monday, October 15, 2018, is the extension deadline for most taxpayers who requested an extra six months to file their 2017 tax return. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension…
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State Sales Tax Rate Decreases to 5.7% on January 1, 2019

State Sales Tax Rate for Rental, Lease, or License to Use Real Property Decreases to 5.7% on January 1, 2019. Effective January 1, 2019, the state sales tax rate imposed under section 212.031, Florida Statutes, on the total…
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Taxpayers can monitor their IRS information online

Taxpayers can access their federal tax information through a secure login at IRS.gov/account. After logging in, the user can view: The amount they owe Their payment history Tax records Key information from their most recent tax…
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Scams Targeting Taxpayers

Crooks impersonating the IRS either by phone, email or in person cost people their time and money. The IRS urges people to stay vigilant against schemes and scams and avoid becoming a victim. Here are some important tips for taxpayers to…
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Form 1040 to be shorter but with more schedules

The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines, compared to the 2017 version of the form. The draft…