Call us at (256) 586-4111 and we will file an extension for you. If you want to come in the week of the 23rd, we can work up the taxes and file them right away if you want, or delay up to October 15th.

The Treasury Department and the Internal Revenue Service (IRS) today issued Notice 2018-28, which provides guidance for computing the business interest expense limitation under recent tax legislation enacted on Dec. 22, 2017. In general, newly amended section 163(j) of the Internal Revenue Code imposes a limitation on deductions for business interest incurred by certain large…

If your income is $250,000 to $500,000, you will see significant tax savings this coming year. If your income falls within the range mentioned above, we are seeing $5,000 to $16,000 tax savings in 2018 under the Trump Plan over the taxes the government kept in 2017. For incomes below $250,000, we see a decrease…

Internal Revenue Service Despite the administration’s attempts to slash its budget, lawmakers grant $11.431 billion to the IRS, a $196 million increase over last year and $456 million more than Trump requested. The figure includes $320 million to implement changes enacted as part of the GOP tax overhaul plan.  

Over the years, numerous individuals have been identified as evading U.S. taxes by attempting to hide income in offshore banks, brokerage accounts or nominee entities. They then access the funds using debit cards, credit cards or wire transfers. Others have employed foreign trusts, employee-leasing schemes, private annuities or insurance plans for the same purpose. The IRS…