You don’t want to play chicken with the Internal Revenue Service. Tax season is over, and the vast majority of taxpayers have filed their returns and paid any outstanding taxes they owed. But for a significant number of people, payingRead more →
Business Income Tax
The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals.Read more →
No one wants a visit from the Internal Revenue Service. But if you get too generous with your calculations, you may need to back up your tax return.Read more →
What You Need to Do If You Plan to Travel Abroad and Have Unpaid Federal Taxes WRITTEN BY: Rosenberg Martin Greenberg LLP Last week, the Internal Revenue Service (“IRS”) published another friendly reminder that it was recently vested with theRead more →
It’s not your imagination: It really is a different kind of tax season. It’s so different that the National Taxpayers Union Foundation (NTUF), a nonpartisan research and educational organization, is calling on Congress to extend the filing season. by Kelly PhillipsRead more →
Most Americans end up getting a tax refund each year, but if you underpay your taxes, whether intentionally or not, you’ll wind up in the opposite scenario — owing the IRS money. This is especially likely to happen if you earned a lot of secondary income from a side job or investments.Read more →
This year will be a particularly challenging tax season as a result of the tax overhaul which affects 2018 taxes. Crabb Tax Services has added a series of videos to help you better understand some of the changes. Some of our videos are specific to certain life and business circumstances which affect your tax situation.Read more →
This is turning out to be a difficult year for a lot of taxpayers.
Major tax law changes that took effect last year are impacting people’s beloved refunds. The Internal Revenue Service reported that, as of Feb. 1, refunds are down 8.4 percent. The average refund was $1,865, compared with $2,035 for the same period a year ago.Read more →
If you tend to procrastinate about filing your tax return, this is not the year to dawdle.
Usually everyone is fixated on April 15, when federal tax returns are typically due. But this tax season, Feb. 15 is the looming date on your calendar. That’s the day when the temporary funding ends for the federal agencies that were shut down for more than a monthRead more →
TOPICS IN THIS ISSUE: IRS Releases New Not-Quite-Postcard-Sized Form 1040 For 2018, Plus New Schedules Tax Trends Heading Into 2019 White House Says IRS Will Pay Tax Refunds During Government Shutdown AICPA and NCCPAP ask IRS to suspend tax penaltiesRead more →
WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.Read more →
The American Institute of CPAs and the National Conference of CPA Practitioners are separately asking the Internal Revenue Service to refrain from imposing underpayment and under withholding penalties on taxpayers in response to some extensive changes in the Tax Cuts and Jobs Act.Read more →