Category Archives: Tax Relief

Here’s How the New Tax Law Revised Family Tax Credits

The following article was published by the IRS. More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation … Continue reading

Posted in Child Tax Credit, Credit for Other Dependents, IRS, Personal Taxes, Planning Strategies, Tax Credits, Tax Law Changes, Tax Relief, Tax Tips, Taxes | Tagged , , , , , , , | Leave a comment

Tax Cuts and Jobs Act (TCJA)

The TCJA was signed into law at the end of 2017. The IRS has been working throughout 2018 on this major piece of tax legislation, issuing proposed regulations, notices, memos, FAQs and more to help businesses make sense of all … Continue reading

Posted in Corporate Taxes, IRS, Planning Strategies, Self-Employed, Small Business Association (SBA), Tax Credits, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes, Year End | Tagged , , , , , , , , | Leave a comment

2018 Employer Reimbursements for Employees’ 2017 Moves are Generally Tax-Free

The following article was published by the IRS. Employer payments or reimbursements in 2018 for employees’ moving expenses incurred prior to 2018 are excluded from the employee’s wages for income and employment tax purposes. The 2017 Tax Cuts and Jobs … Continue reading

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Here’s What Taxpayers Should Know about Penalty Relief

The following article is from the IRS. Taxpayers who make an effort to comply with the law but are unable to meet their tax obligations due to circumstances beyond their control may qualify for relief from penalties. After receiving a … Continue reading

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What is a 529 Plan?

A 529 plan is a specialized investment account that was created to help families save for future college expenses. This can be for a traditional 4-year college or university, or even a community college. The tax benefits of these accounts … Continue reading

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Missed the tax deadline and owe tax? File by June 14 to avoid higher late-filing penalty.

Taxpayers who owe tax and file their federal income tax return more than 60 days after the deadline will usually face a higher late-filing penalty. For that reason, the Internal Revenue Service urges affected taxpayers to avoid the penalty increase … Continue reading

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