Category: Tax Central

Article Highlights: Estate Tax  Estate Tax Exemption  Fair Market Value at Date of Death  Step-up in Basis  Community Property  Deferred Untaxed Income  A frequent question

Overview The most recent IRS regulations substantially simplify rules for required minimum distributions (RMD) from IRAs. There are life expectancy tables that allow smaller distributions

Article Highlights: Gift Tax Return Filing Requirements  Lifetime Estate Exclusion  Annual Gift Exclusion  Tuition and Medical Exclusions  Gift taxes were created to prevent wealthy taxpayers

Article Highlights: Background  New Limit Equity Debt Interest  Interest Tracing  Refinancing  The Tax Cuts and Jobs Act of 2017, more commonly referred to as tax

Article Highlights: Expiring ITINs  Renewal Process  IRS Notice  Spouses or Dependents  Family Renewal Option  Filing With An Expired ITIN  Passports  The IRS recently announced that

Article Highlights: Prior Law Deduction  Deduction Repealed  Military Exception  Employer Reimbursement  Reimbursement Gross Up  Prior to the passage of tax reform, individuals who moved as

Why Pay Estimates? The tax system is intended to be a “pay-as-you-go” system, and the only way to prepay taxes is through withholding and estimated

Article Highlights: Concerns About Proper Withholding  Late IRS W-4 and Withholding Tables  New W-4 Complications  Self-employed Estimated Payments  Events That Can Impact Taxes  Taxes are

Article Highlights: Parsonage Allowance  Income Tax Exclusion  Pending Court Case  Tax Reform Suspension of Employee Business Expenses  Self-Employment Tax  Section 107 of the Internal Revenue

Deadline for Filing Your Return Generally, individual tax returns are due on the 15th day of the fourth month after the close of your tax