Major tax reform enactment is a rare event, with the last occurring back in 1986 under President Ronald Reagan. As a result, current discussions could pan out to be much ado about nothing; however, with the solid majorities that Trump and the Republicans hold in both...
From Texas to Florida, a large swath of the United States was recently slammed with back-to-back hurricanes, leaving flooded streets, damaged buildings and wreckage all around. Huge economic costs will be associated with these hurricanes. Economic Impact AccuWeather...
Some people say that 50 is the new 30. Living longer and healthier lives might make you feel young if you are 50, but your retirement account begs to differ. Anyone who’s turning 50 or older on or before Dec. 31 is allowed to make retirement catch-up contributions...
by Eric Ernest The Internal Revenue Service (IRS) announced significant relief for the victims of Hurricane Harvey, which includes an extension for filing of Form 5500 series returns applicable to employee benefit plan reporting and compliance. Such returns that were...
The Internal Revenue Service (IRS) announced significant tax relief this week for victims of Hurricane Harvey. Those in Texas impacted by the storm now have until January 31, 2018 to file certain individual and business tax returns and make certain tax payments. This...
You can pay off your mortgage, never again seeing a bill from the bank for principal or interest, but you can never pay off your property taxes. Property taxes also, unfortunately, only seem to go one way – UP! You’ll never be able to get rid of your property taxes...
by Thomas Jones and Dee Ann Creach Taxpayers can get flagged for forgetting important forms, mixing up numbers, or exaggerating tax breaks. Even one mistake can alert the Internal Revenue Service (IRS) to take a closer look at your return. While there is no such thing...
Whether you're doing taxes for your own business or a client's business, the small – but real – possibility exists for an audit. Understanding the chances of an audit and what the Internal Revenue Service may pay particular attention to can help you and your client...
For a number of years, Congress created significant uncertainty by waiting until the eleventh hour to renew or extend numerous tax provisions. In response to the frustration expressed by both individual taxpayers and the business community, Congress passed the...
by Tene Thomas, Tax Compliance Partner Congressional lawmakers passed a massive government-wide budget deal this past Wednesday combining more than a trillion dollars in year-end spending with hundreds of billions in tax cuts for businesses, families and special...