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IRS provides various payment options for taxpayers who owe but can’t pay in full
“The IRS understands there were many changes that affected people last year, and the new penalty waiver will help taxpayers who inadvertently had too little tax withheld,” said IRS Commissioner Chuck Rettig. “We encourage people to check their withholding again this year to make sure they have the right amount of tax withheld for 2019.”
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The Two-Factor Authentication Rage in I.T. Security Brings its Own Set of Problems and Risks
In the never-ending war to prevent hacking, two-factor authentication has become the end-all answer. But guess what? I.T. Security Specialists evidently have all agreed that password protection alone is not enough to protect against unauthorized access. Therefor we need a second layer of security in case the password has been compromised. What do they do?…
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Dogs are Wonderful Companions
But no, you can’t claim them on your taxes. Even if you have health insurance for them.
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Deducting Business Use of a Car
If you use your car in your business and you use it only for that purpose, you may be able to deduct its entire cost of operation. However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use and you must keep records to…
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Tax Law Changes Affect Every Taxpayer
Here’s a brief run-down of the tax changes for 2018. Tax rates were lowered for 2018. There are seven income tax brackets now, ranging from 10 percent to 37 percent. The Standard Deduction nearly doubled over last year. For 2018, the basic standard deduction is $12,000 for singles, $18,000 for heads of household and $24,000…
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During the last few years, Congress has showed renewed interest in examining and improving the operations of the IRS.
The House Ways and Means Subcommittee on Oversight has held several hearings to consider “IRS reform,” and the House passed the Taxpayer First Act of 2018 by a unanimous vote of 414-0 last April.
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Child Tax Credit and Credit for Other Dependents
Child Tax Credit Beginning with Tax Year 2018, you may able to claim the Child Tax Credit if you have a qualifying child under the age of 17 and meet other qualifications. The maximum amount per qualifying child is $2,000. Up to $1,400 of the credit can be refundable for each qualifying child as the…
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The First Week of March Presents an Opportunity
for new clients to get in to see us. I routinely say there are two basic groups of tax filers; 1) those who want to come in and file as soon as possible, and 2) those who want to put it off as long as possible. The result is a lull or dip in activity…
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Lack of Disclosure of IRS Chief Counsel Legal Advice
Over several decades, the IRS has contested lawsuits seeking public access to various forms of legal guidance. In 2007, it settled a case seeking access to legal advice the Office of Chief Counsel provides to national office program managers known as “Program Manager Technical Advice” (PMTA). Yet the Office of Chief Counsel releases relatively few…
