Category Archives: Year End

Taxpayers who usually itemize deductions should check their withholding to avoid tax surprises

The Internal Revenue Service encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.” People who have itemized before may be affected by changes … Continue reading

Posted in IRS, Personal Finance, Personal Taxes, Planning Strategies, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Year End | Tagged , , , , , , , , , ,

Many tax-exempt organizations must file information returns by May 15

The following article was published by the IRS. The Internal Revenue Service reminded certain tax-exempt organizations that the Tuesday, May 15 filing deadline for Form 990-series information returns is fast approaching. Form 990-series information returns and notices are normally due … Continue reading

Posted in Accounting, Charitable Organizations, Non Profits, Planning Strategies, Tax Tips, Year End | Tagged , , , ,

Step-by-Step Instructions for Using the IRS Withholding Calculator

The following article was published by the IRS. The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.” This is even more important this year because of recent tax law changes. Results from the calculator … Continue reading

Posted in Accounting, IRS, Personal Finance, Personal Taxes, Tax Tips, Taxes, Year End | Tagged , , ,

Here’s How to Get Prior-Year Tax Information

The following article was published by the IRS. As people are filing their taxes, the IRS reminds taxpayers to hang onto their tax records. Generally, the IRS recommends keeping copies of tax returns and supporting documents at least three years. … Continue reading

Posted in Accounting, Compliance, Government, IRS, Personal Finance, Personal Taxes, Planning Strategies, Taxes, Year End | Tagged , , , , ,

IRS Can Help Taxpayers Get Form W-2

The following article was published by the IRS. Most taxpayers got their Form W-2, Wage and Tax Statement, by the end of January. Taxpayers need their W-2s to file an accurate tax returns, as the form shows an employee’s income … Continue reading

Posted in Accounting, IRS, Personal Finance, Personal Taxes, Tax Tips, Year End | Tagged , , , ,

Interest on Home Equity Loans Often Still Deductible Under New Law

The following article was published by the IRS. The Internal Revenue Service today advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Responding to many questions received from taxpayers and tax professionals, … Continue reading

Posted in IRS, Personal Finance, Personal Taxes, Planning Strategies, Tax Law Changes, Year End | Tagged , , ,

Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February

The following article was published by the IRS. The Internal Revenue Service recently released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in … Continue reading

Posted in Payroll, Personal Finance, Personal Taxes, Planning Strategies, Tax Law Changes, Year End | Tagged , , , ,