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The Standard Deduction Nearly Doubled For Most Taxpayers

IRS Tax Reform Tax Tip 2019-28, March 21, 2019  Tax law changes in the Tax Cuts and Jobs Act affect almost everyone who itemized deductions on tax returns they filed in previous years..  One of these changes is that TCJA nearly doubled the standard deduction for most...

IRS Tax Reform Tax Tip 2019

IRS Tax Reform Tax Tip 2019-27, March 20, 2019 Major tax law changes affect every taxpayer filing a 2018 tax return this year. To help taxpayers understand these changes, the IRS created several resources that are available on IRS.gov. Here’s a quick overview of key...

Follow these tips to protect data when shopping online

Issue Number:    Tax Tip 2018-185 The IRS reminds holiday shoppers to protect their tax and financial data from identity thieves. All it takes is a few extra steps to prevent cybercriminals from stealing sensitive data, such as financial account information, Social...

IRS urges taxpayers to prepare for natural disasters

IR-2018-183, Sept. 10, 2018 WASHINGTON —  Because a natural disaster can strike any time, the Internal Revenue Service is reminding individuals and businesses to take time now and create or update their emergency preparedness plan. During 2018, the IRS has offered tax...

Should you itemize or take the standard deduction?

IRS Tax Tip 2018-28, February 22, 2018 Most taxpayers claim the standard deduction when they file their federal tax return. However, some filers may be able to lower their tax bill by itemizing when they file their 2017 tax return. Before choosing to take the standard...

IRS refunds for 2014

IRS: Refunds worth $1.1 billion waiting to be claimed by those who have not filed 2014 federal income tax returns. IR-2018-44, March 8, 2018 WASHINGTON ―Unclaimed federal income tax refunds totaling about $1.1 billion may be waiting for an estimated 1 million...

Get Ready for Taxes: Plan Ahead to Avoid Refund Delays

Taxpayers can take steps to ensure smooth processing of their 2017 tax return next year. Here are three things taxpayers should know about the tax returns they will file next year. 1) It’s important to gather documents The IRS urges all taxpayers to file a complete...

What the New Tax Overhaul Means for You

The past several weeks as the House and Senate tax overhaul bills worked their way through Congress — the final version passed on Wednesday, Dec. 20, 2017 — I've heard from several clients with questions about how they might be affected. Here's what I tell them:...

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31. WASHINGTON – As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now to get ready for filing season. For most taxpayers, Dec. 31 is the last...

Standard Mileage Rates for 2018 Up from Rates for 2017

WASHINGTON ― The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2018, the standard mileage...