WASHINGTON — The Internal Revenue Service today urged high-income taxpayers and those with complex tax returns to check their withholding soon to avoid an unexpected tax bill or penalty when they file their 2018 federal income tax return in 2019...
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A recent Tax Court case outlined a situation we see quite often with our clients. In this case, the taxpayer was the sole shareholder of a professional association (taxed as a corporation) which performed medical services. He, himself was a...
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Many real estate tax assessments are made erroneously, and many homeowners who challenge their real estate tax assessments succeed in reducing their property taxes. Basically, property tax bills are generated by taking the assessed value of a...
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IRS penalties. At some point in almost everyone’s life, it seems, we will receive greetings from the IRS which includes a penalty. The penalty could result from filing or paying your taxes late or misstating your income or deductions on your...
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How Determining State Residency Is Important For Your Taxes Over the years, many people across the country have been able to lower their tax bill by performing a seemingly simple maneuver – moving. Each state has a different tax code and...
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Understand How To Avoid An IRS Audit Uh oh! What starts out as a normal day suddenly becomes dark and foreboding when you open your mailbox and receive a special invitation from your friends at the local IRS office. If you are like most of our...
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The IRS Has Its Eye On Executive Compensation A recent court decision demonstrates once again that the IRS is examining executive compensation with a critical eye and companies with potentially excessive comp packages had better be prepared to...
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The Tax Relief And Job Creation Act Passed on December 17, 2010 After much debate over whether to extend the Bush-era tax cuts for all taxpayers, congress finally passed and the president signed, the Tax Relief and Job Creation Act of 2010 (the...
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Small Business Jobs Act Passed in September 2010 In September, 2010, Congress passed and the President signed into law the 2010 Small Business Jobs Act (Act). The Act is intended to boost business spending and provide jobs by offering tax breaks...
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