IRS Warns Travelers: Passports Can Be Suspended
I have mentioned this topic in prior blogs, but the IRS issued a new reminder this week and I thought it couldn’t hurt to discuss the issue again. For seriously [...]
Home Ownership: Tax Cuts and Jobs Act, Part 3
Another big question coming from many clients regarding the new Act’s effect on their returns is about home ownership. Traditionally, tax law provides numerous incentives for home ownership by [...]
The Tax Cuts and Jobs Act, Part 2: Pass-through Income Deduction
There is an old saying that you cannot eat an elephant in one sitting, so over the next few blogs, I am going to take apart the new [...]
Tax Reform Law Has Passed Congress
The new tax reform law has passed Congress and is awaiting the President’s signature! There are a lot of Christmas goodies in the new law, but a few lumps [...]
Tax Reform: The Conference Committee
The Conference Committee has reached a deal on tax reform! The bill will now go to the full House and Senate where it is expected to pass. I will have [...]
Tax Reform: Senate Bill vs House Bill
In the early hours of Saturday morning the Senate passed its version of tax reform. The House bill and the Senate bill will now go to conference committee to iron [...]
Tax Reform Update
The House of Representatives has passed a tax reform bill, which for the first time since the 1980’s, would enact fairly comprehensive changes to our Tax Code. The Senate is [...]
Defining Your Charitable Contributions
From the Desk of Lauran L Stevenson Defining Your Charitable Contributions In recent years, there has been an influx of options available for charitable giving and gift giving to online [...]
IRS Data Mining: Social Media
From the Desk of Lauran L. Stevenson IRS Data Mining: Social Media We are all aware that big companies collect our information to market better. There are other organizations, such [...]
The IRS’ Heavy Reliance on the Online Account Benefits
From the Desk of Lauran L. Stevenson The IRS’ Heavy Reliance on the Online Account Benefits In December of 2016, the IRS launched a new taxpayer service that is supposed [...]
The New Illinois Tax Hike
From the Desk of Michael T. McCormick The New Illinois Tax Hike Illinois budget legislation has been enacted over Gov. Bruce Rauner’s veto that increases corporate and personal income tax [...]
Taxpayer Advocate Service Mid-Year Report to Congress
From the Desk of Lauran L. Stevenson Taxpayer Advocate Service Mid-Year Report to Congress This week’s post will introduce the Fiscal Year Objectives Report to Congress. This report presents a [...]