WASHINGTON — The Internal Revenue Service today warned the public about a new twist on the IRS impersonation phone scam whereby criminals fake calls from the Taxpayer Advocate Service (TAS), an independent organization within the IRS. Similar to other IRS impersonation scams, thieves make unsolicited phone calls to their intended victims fraudulently claiming to be…

Taxpayers who pay quarterly estimated tax payments may need to revisit the amount they pay with their advisor. The Tax Cuts and Jobs Act changed the way we calculate most taxpayers’ tax. These taxpayers include those with substantial income not subject to withholding, such as small business owners and self-employed individuals. As a result of…

The new deduction — referred to as the Section 199A deduction or the deduction for qualified business income — was created by the Tax Cuts and Jobs Act. The deduction is generally available to eligible taxpayers whose 2018 taxable incomes fall below $315,000 for joint returns and $157,500 for other taxpayers. It’s generally equal to…