Employers and employees: Withholding tables reflecting Tax Cuts and Jobs Act (TCJA) changes are now available, and employees could see paycheck changes by February. The IRS has issued new income tax withholding tables for 2018 and advised employers to begin using them as soon as possible, but no later than Feb. 15. Find the IRS’s […]
January 29, 2018 That’s the date the IRS will begin accepting electronic and paper returns (though many tax professionals and software companies will accept returns earlier). Processing returns will begin in mid-Feb. The earliest that refunds claiming the earned income credit or additional child tax credit will be available will be Feb. 27. The IRS expects over […]
[mp_row] [mp_span col=”12″] Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs Act (TCJA), C corporations aren’t the only type of entity significantly benefiting from the new law. Owners […]
In general, married taxpayers who file a joint tax return are “jointly and severally liable” for the tax due on the return. However, spouses may be eligible for “innocent spouse” relief if they can prove they didn’t know about an understatement of tax. In one case, a married couple filed a joint return and later […]
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