- What Are The Penalties For Not Filing Your Tax Return?
- Even if you’re unable to pay your taxes, you need to file a return. Not doing so will eventually lead to a domino effect of negative consequences. Learn more.
- Do You Need to Renew Your ITIN?
- The IRS has announced that more than 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2018. An ITIN is a nine-digit number issued by the IRS to individuals who are required for U.S. federal tax purposes to have a U.S. taxpayer identification number but who do not have and are not eligible to get a Social Security number (SSN).
- States Sue U.S. to Void $10,000 Cap on State and Local Tax Deduction
- Four states – New York, Connecticut, Maryland and New Jersey – have sued the federal government to void the tax-reform cap on the federal itemized deduction for state and local taxes, contending that limiting the deduction is unconstitutional. The taxes at issue include state and local income taxes, real property (real estate) taxes and personal property taxes.
- 133,000 Injured Veterans Entitled to Tax Refunds
- As a result of the 2016 Combat-Injured Veterans Tax Fairness Act, more than 133,000 injured veterans may qualify for a federal tax refund. The minimum refund is estimated at $1,750, meaning the government will be paying out an estimated minimum of $228 million.
- A Breakdown of the Proposed IRS 1040
- Remember the IRS’s promise about being able to file your income tax return using a postcard?
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