The Internal Revenue Service has added Instagram as a new platform to their social media portfolio. This is to help all taxpayers understand and meet their tax responsibilities
Topics Included for Instagram
The IRS News account (https://www.instagram.com/irsnews) will provide taxpayers with the latest information on the tax law changes for the upcoming 2019 filing season. A […]
Now is a good time for taxpayers to decide how they will prepare and file their 2018 tax return. The IRS has updated its Get Ready page with steps to take now.
This is the eighth and final in a series of reminders for taxpayers. It is intended to assist with the upcoming tax filing season. Tax […]
The Internal Revenue Service is now advising taxpayers of the new tax law changes . The standard deduction will double next year. Therefore,discouraging taxpayers to itemize on their return.
Upcoming Reminders
This is the sixth in a series of reminders to help taxpayers prepare for the upcoming tax filing season. The IRS has recently updated its Get Ready […]
The U.S. Department of the Treasury issued new rules and regulations on certain state or local tax credits. The Internal Revenue Service also provided insight into the availability of charitable contribution deductions.
The regulations clarify the relationship between state and local tax credits. This also includes federal tax rules for charitable contribution deductions. The proposed regulations […]
The Combat-Injured Veterans Tax Fairness Act of 2016: This act allows veterans who received a lump sum disability severance payments more time to file a claim. This is a credit or a refund of an over payment. The law ordered the Secretary of Defense to classify disability severance […]
In the wake of Hurricane Florence, the Internal Revenue Service wants taxpayers to be aware of criminals and scammers. These are people who try to take advantage of those who want to help victims of major disasters.
Fraudulent schemes normally start with unsolicited contact by telephone, social media, e-mail or in-person using a variety of tactics.
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Washington — October 16, 2018, The Internal Revenue Service reminded business owners that tax reform legislation passed last December affects nearly every business.
With just a few months left in the year, the IRS is highlighting important information for small businesses and self-employed individuals to help them understand and meet their tax obligations.
Qualified Business Income Deductions
Many […]
WASHINGTON — The Internal Revenue Service issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).
The 2017 TCJA eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation.
Taxpayers may continue to deduct 50 percent of the cost of […]
WASHINGTON — The Internal Revenue Service issued proposed regulations on August 08, 2018 for a new provision allowing deductions for many business owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.
The new deduction — referred to as the Section 199A deduction or the deduction for qualified […]
Victims of Hurricane Florence in South Carolina
SOUTH CAROLINA — Victims of Hurricane Florence that took place beginning on Sept. 8, 2018 in South Carolina may qualify for tax relief from the Internal Revenue Service.
The President has declared that a major disaster exists in the State of South Carolina. Following the recent disaster declaration for individual […]