What was your biggest “a-ha” moment from tax season? While you may have put a number of clients on extension and tax season isn’t really isolated to just a few months of the year, tax year 2018 was unlike many...
After filing an original return, you may discover that you made a mistake or omitted something on the tax return. Although the IRS often finds and corrects errors during the processing stage, you may need to correct and amend a...
The IRS clarified the tax treatment of state and local tax (SALT) refunds arising from any year in which the new limit on the SALT deduction is in effect. In Revenue Ruling 2019-11, the IRS provided four examples illustrating how the...
Chances are, you’re knee-deep in finalizing your clients’ returns for tax year 2018 or getting ready to put them on extension. Don’t forget about this month’s important tax and compliance deadlines. Here’s the list for April. In April, it’s recommended...
In this episode of TaxProTalk, Jim and Tony identify mystery items and decide if they are deductible or not. Who will be crowned the champion? TaxProTalk has a channel on YouTube. Subscribe to be notified about all the TaxProTalk updates.
As we near the business filing deadline, we wanted to recap some of the topics related to the qualified business income (QBI) deduction, or sec. 199A, about which our team most commonly receives questions. I hope this summary helps you...
As the days relentlessly march toward this year’s filing deadline, I suspect there will be an increased number of returns put on extension. Besides those relegated to the extension bin through chronic procrastination, the number of extended returns for tax...
The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files their 2018 federal income tax return and pays any tax due by Monday, April 15, 2019. The deadline is Wednesday, April 17, 2019, for...
Congratulations! You’re more than halfway through tax season and no doubt working diligently. Still, don’t forget about this month’s important tax and compliance deadlines. Here’s the list for March. In March, it’s recommended that you: File extensions for individuals who...
As traditional stock options have become less popular in the last 20 or so years, many companies replaced them with Restricted Stock Units (RSUs). Because these units vest over time, companies use RSUs to attract employees by offering incentive compensation...
What was your biggest “a-ha” moment from tax season? While you may have put a number of clients on extension and tax season isn’t really isolated to just a few months of the year, tax year 2018 was unlike many... 
