TaxConnections


 

Tag Archive for 2017

IRS Has Not Yet Released Date For Accepting 2017 Tax Returns

It seems that a whole lot of taxpayers are anxious to get their taxes in to the IRS!

I’ve never seen the IRS issue a statement that they have yet to determine the date when they will be accepting tax returns; however, they’ve done just that this year.

Below, I outline various reasons that could be responsible for this sudden frantic rush:

Read more

2016 IRS Data Book Shows Chances Of Being Audited

Ephraim Moss

The IRS has published the 2016 version of its annual IRS Data Book, which contains statistical information about the IRS and taxpayer activities during the previous year. The IRS Data Book helps illustrate the breadth and complexity of the U.S. tax system. According to the Data Book, during fiscal year 2016 (Oct. 1, 2015 to Sept. 30, 2016), the IRS collected overall more than US$ 3.3 trillion from taxpayers, processed more than 244 million tax returns and other forms, and issued more than $426 billion in tax refunds.

Read more

Nigel Green: ‘My Fight To Repeal FATCA’

The Foreign Account Tax Compliance Act was signed into law by President Obama in March, 2010; a few months later, the deVere Group announced that it would begin to formally start looking after American expatriate clients.

Here, Green discusses his opposition to FATCA and why it remains a priority, even at a time when other issues, including the changing landscape for UK pension transfers, are also demanding his attention.

Read more

CA Proposal To Convert Vacation Home Subsidy

Annette Nellen

AB 71 introduced in California for the 2016-2017 session, proposes to repeal the deduction for mortgage interest on a second home (usually a vacation home) and use the savings (and apparently other funds) for low-income housing.

Read more

Business Entity Selection And Tax Consequences Of Converting

John Dundon

For this post, Brandon Rains, founder of the Rains Laws Firm and an expert on business formation, espouses his observations about business structure changes and I address the income tax reporting requirements of those changes therein.

Read more

Time To File Your Taxes: Tax Season Has Begun!

Kat Jennings

The start of the 2017 tax season occurred this Monday on January 23rd. (Some argue tax season never ends.) By this we mean that Monday was the first day you can officially your income tax returns. Employers have until the 31st of this month to give you your W-2 and 1099 forms. If you made income on your investments in 2016, you may have to wait until mid-February to get all of your required forms.

Read more

Prospects For Tax Reform In The 115th Congress

Annette Nellen

We have a new Congress and new President – all of the same party. Tax reform discussions and hearings have been held for the past six years. In June 2016, the House Republicans released their “blueprint” for tax reform. So, will we see tax reform in 2017? If yes, what might it look like?

Read more

Sales Tax Policy Outlook For 2017

Annette Nellen

Sales tax law changes and discussions in 2017 are likely to look a lot like those of 2016, with one possible exception.

The repeating discussions and activities will include:

1) Expanding the sales tax base to include more services and digital goods.

2) Congressional hearings on the Marketplace Fairness Act without enactment of legislation.

Read more

40% Off Classes For CPE Credits From ACPEN

Kat Jennings

The new year is upon us, and it may be time to get some CPE Credits. If you are thinking about enrolling in a course, take a look at those offered through a partnership between TaxConnections and ACPEN. The courses offered by ACPEN cover a range of topics and ideas, and vary in time and price. If you only need a few CPE credits, you could easily manage to obtain those through a webinar that is provided.

Read more

“You Haven’t Paid Taxes In How Long?!”

Barry Fowler

It’s a brand new year and you’ve decided to take a deep breath and finally address your unfiled and unpaid taxes.

Yes, it’s scary, but you know it’s not getting any better and your tax bill is getting bigger every day you ignore it.

Read more

40% Off Classes For CPE Credits From ACPEN

Kat Jennings

The new year is upon us, and it may be time to get some CPE Credits. If you are thinking about enrolling in a course, take a look at those offered through a partnership between TaxConnections and ACPEN. The courses offered by ACPEN cover a range of topics and ideas, and vary in time and price. If you only need a few CPE credits, you could easily manage to obtain those through a webinar that is provided.

Read more

U.S. Corporate Tax Rate Changes In 2017

Kat Jennings

2017 is finally upon us. There are a lot of changes that we should expect to happen to taxes over the course of the next few years. But as of the first, many states have already begun changing their tax codes. Corporate income taxes are one of the areas in which we will be seeing multiyear reductions and reforms. We will look at the five states (four states and capital) that reduced or will reduce their corporate tax rates in 2017: Arizona, The District of Columbia, Indiana, New Mexico, and North Carolina.

Read more

Meet Tax Experts At TaxConnections...