- Missed a 60-Day Rollover? There May Be Relief
- Taxpayers can take a distribution from an IRA or other qualified retirement plan and if they roll it over (put it back) within 60 days they can avoid taxation on the distributed amount. (This provision does not apply to required minimum distributions for taxpayers who are 70.5 years of age and over.) In addition, taxpayers are limited to one IRA-to-IRA rollover per year.
- Were you a victim of IRS Tax Return Fraud?
- If you reported to the IRS that you were a victim of identity theft or if the IRS identified you as a victim of identity theft, you will be unable to use only your Social Security Number to file a tax return.
- What Does the Future Hold for Taxes?
- One topic that is frequently being discussed is what the future holds for individual taxation under President Trump. Numerous blog entries have been posted on the issue; many proclaim that the wealthy will be the beneficiaries of Trump's tax policies, and some declare that lower-income taxpayers will see tax increases.
- Important Tax Changes for Small Businesses
- Tax legislation passed late in December 2015 (the Protecting Americans from Tax Hikes Act) extended a number of favorable business provisions and made some others permanent. The provisions can have a significant impact on a business's taxes for 2016. Here is a rundown of those changes that need to be considered when preparing your 2016 and 2017 returns.
- Teacher Expenses and Your Tax Return
- Teachers! Get the most out of your tax deductions this tax season.
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