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November 14, 2019

WASHINGTON — The Internal Revenue Service today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 (PDF) provides details about these annual adjustm...

August 12, 2019

The IRS encourages everyone to use the Tax Withholding Estimator to perform a quick “paycheck checkup.”  This is even more important following the recent changes to the tax law for 2018 and beyond.
The Estimator helps you identify your tax withholding to make sure you...

June 12, 2019

Taxpayers who work multiple jobs or who may be adding summer employment should complete a Paycheck Checkup, says the IRS. Doing so will help them check if they are having the right amount of tax withheld from their paychecks.Checking and adjusting tax withholding as ea...

March 27, 2019

A Cotati, California, man was sentenced to 33 months in federal prison Wednesday after pleading guilty in San Francisco federal court to tax fraud stretching from 2009 to 2015, court documents show.

Stanley Charles, 33, began his prison term immediately after sentencing...

March 12, 2019

With the Tax Cuts and Jobs Act, the most sweeping tax reform legislation in more than 30 years now in effect, some taxpayers may choose to have a paid professional prepare their tax returns this year even if they’ve done it themselves in years past.
The IRS is remindin...

January 8, 2019

If you heard that millions of people tried performing surgery on themselves every year, you’d likely be aghast or at least perplexed that people would take such a chance at something so complex. Well, every year, millions of taxpayers decide to perform complex tax prep...

January 7, 2019

The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2019, the standard mileage rates for the use of...

November 13, 2018

Notably, the new Tax Cuts and Jobs Act (TCJA) scales back deductions for certain itemized deductions, including state and local tax (SALT) payments and mortgage interest. But another lesser-noticed crackdown may be just as significant. Effective for 2018 through 2025,...

Will the increase in the standard deduction in 2018 mean our clients will flock to cheap do-it-yourself software providers like TurboTax?

The reality, in my practice, is that many of my individual income tax clients — who are highly educated, high earners — are savvy en...

January 3, 2016

The Consolidated Appropriations Act, H.R. 2029(http://docs.house.gov/billsthisweek/20151214/121515.250_xml.pdf), was passed by Congress on Thursday and Friday and now goes to President Barack Obama for his signature. As has been widely reported, the bill extends an ext...

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Tax Reform Eliminates Deduction for Work Expenses, Mileage

November 13, 2018

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