Posts Tagged ‘taxes’
IRS videos in Sign Language
In a celebration of the international day of sign languages, IRS ASL Channel on YouTube featured several tax topics: Tax Tips – videos on general tax topics – meant to help people understand their tax responsibilities ID Theft – as taxpayers and their returns becomes a major target for identity thieves, the IRS provides videos…
Read MoreGILTI Implemented
Expatriate taxpayers may need to be aware of tax consequences in multiple nations. When the rules in those nations change, following them becomes more complicated. Recently the United States’ Internal Revenue Service came out with guidance forms and instructions for provisions of the Tax Cuts and Jobs Act under the name Global Intangible Low-Taxed Income,…
Read MoreNew Business? Remember the Taxes
Starting a business can be incredibly rewarding – and a little overwhelming. Even as you make business plans, and marketing strategies; keep in mind, you will need have tax responsibilities and there are steps to take and business tax structure to consider. What will be your business structure? The form of your business determines which…
Read MoreIRS Extension Filing Deadline Almost Here
If you requested an extension for filing your 2018 tax return, the IRS reminds us your deadline is close, Tuesday, October 15, 2019. AcctServices.org wants to remind you there is still time for taxpayers to file a complete – and hopefully accurate – return. The deadline doesn’t mean you should wait until October 15 to…
Read MoreBusiness Tax Rules Changes
Small and Medium Businesses, especially, need to know about changes in Tax rules from the Tax Cuts and Jobs Act (TCJA). New flat 21% tax rate for corporations. The rates before TCJA was enacted were 15%, 25%, 34% and 35%. Personal Service Corporations paid a flat 35% rate. Beginning in 2018, Corporations pay a flat…
Read MoreTuesday Tax Tip: 2019 Tax Filing Changes to Know
There is still time to get more out of your deductions and contributions before the end of the 2019 tax year. Parts of the 2017 reform did not take effect until this year, and, as most years, the contribution caps changed for 2019. Here is what you should know about 2019 tax filing changes. The…
Read MoreIRS Using Private Debt Collection for Overdue Taxes
Four collection firms have been contracted by the IRS’ new private collection program of overdue federal tax debts. The groups are CBE Group of Cedar Falls, IA, Conserve of Fairport, NY, Performant of Livermore CA, and Pioneer of Horseheads, NY. Each taxpayer or business tax account which owes these certain types of overdue federal tax…
Read MoreNew Tax Estimator Tool for Freelancers
Today, with so many millennials freelancing on the side while working a salaried job, the IRS wanted to reduce the risk of sticker shock when taxes are due on the W-2 income as well as the additional self-employment income. To solve this challenge, the Internal Revenue Service issued the new Tax Withholding Estimator tool. To…
Read MoreTuesday Tax Tip: 3rd Quarter Estimated Tax Due Soon
Third Quarter Estimated tax payment due Monday Sept 16. Can you believe major tax reform is in its second year? As taxpayers are seeing its full effect on 2018 returns, the IRS reminds people who pay estimated tax that their third quarter payment for 2019 is due Monday September 16. Thanks, IRS. On a brighter…
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