The PATH Act

By | |Categories: Taxes|

The Protecting Americans from Tax Hikes Act, aka the PATH Act, is a new law that was designed to protect taxpayers against tax fraud. The law was passed in December of 2015 and it extended some expiring tax provisions, made some expiring provisions permanent, and created new one provisions. This means that you might notice some [...]

Upcoming Filing Deadline for Wage Statements

By | |Categories: Taxes|

There’s an important new deadline that all employers need to take note of: January 31st. That’s the new deadline for sending all wage statements and independent contractor forms to the Social Security Administration and the IRS. In the past, wage statement and independent contractor forms only needed to be sent to employees by January 31st. If [...]

IRS Announces Opening of 2018 Filing Season: Tax Season to Begin January 29

By | |Categories: Taxes|

Last week, the IRS finally announced the opening date of the 2018 filing season: January 29. That’s the date the IRS will begin accepting tax returns from the almost 155 million Americans that are expected to file this year. In the official IRS statement, they stated that the reason the date is on the 29th this [...]

Tax Evasion, Fraud, and the Statute of Limitations

By | |Categories: Tax Evasion, Taxes|

Every American should be educated about tax evasion and tax fraud. Tax fraud and tax evasion don’t have to be malicious or even intentional to be considered a crime— accidental tax evasion and fraud are also criminal actions. Because taxes can be confusing, and filing errors are easy to make, it’s important to know about these [...]

Senate Passes TAX REFORM – What does that mean for you?

By | |Categories: Tax Plans, Taxes|

There’s been a lot of buzz around the Trump administration’s tax reform bill this year. Last Saturday, the buzz and rumors around the new bill became reality as the Senate introduced and narrowly passed a new tax reform bill in the early hours of the morning. So, what’s in this new bill and how will it [...]

Tax Relief For Hurricane Irma Victims: What You Need To Know

By | |Categories: Disaster Relief, Tax Relief, Tips|

In the wake of major disasters, the Internal Revenue Service has been known to grant certain forms of tax relief to help disaster victims recover. Such is the case for the United States and United States territory victims of Hurricane Irma, the Category 5 hurricane that recently devastated many Atlantic islands and much of the Atlantic [...]

Trump’s Offshore Tax Plan May Set Some American Companies Up For A Windfall

By | |Categories: General, Tax Plans|

New tax laws ending global taxation of American companies have been proposed by the Trump administration. This new tax law would greatly benefit multinational American companies, and would especially benefit those who have used certain accounting maneuvers to avoid paying foreign taxes right away. To understand how this tax plan would affect American companies, there are [...]

Tax News: Donald Trump Outlines His Tax Plan

By | |Categories: General, Taxes|

In a speech given in Springfield, Missouri last week, President Donald Trump announced his plans to majorly reform the tax code. So, what is his plan, and what are its proposed benefits? First, let’s look at the details of Trump’s proposed tax changes. The exact outlines of these changes are not available, as the full plan [...]