Archive | May, 2018

Washington Hotline – May 29, 2018

WASHINGTON NEWS Two-Income Families Benefit from ‘Paycheck Checkup’ In IR-2018-124, the Service offered a “Paycheck Checkup” for families with two incomes. The IRS Withholding Calculator on helps couples with two or more sources of income to adjust their withholding amounts. Many two-income families will be able to change or reduce withholding due to the passage of […]

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Does debt weigh you down?

Does debt weigh you down?                                                                                                      House payments? Car payments? College loans? Credit card debt?   Does every paycheck disappear by the time you make all your monthly payments? Do you put purchases on new cards because you have no cash left after you pay house and car costs, college loans and maxed-out credit cards? […]

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Washington Hotline – May 22, 2018

WASHINGTON NEWS Time for a ‘Paycheck Checkup’ In IR-2018-120, the Service urged taxpayers to use the Withholding Calculator on for a “Paycheck Checkup.” The passage of the Tax Cuts and Jobs Act (TCJA), brought many changes that will affect taxpayers. With the TCJA’s higher standard deductions ($12,000 for single taxpayers and $24,000 for married couples filing […]

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Washington Hotline – May 15, 2018

WASHINGTON NEWS Tax Scams Go International In IR-2018-119, the Service warned international taxpayers about a new tax scam. Fraudsters may send a letter requesting completion of Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting. Many U.S. citizens are employed overseas. They may qualify for the Foreign Earned […]

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Washington Hotline – May 8, 2018

WASHINGTON NEWS IRS Highlights National Small Business Week In IR-2018-109, the Service highlighted various resources that may benefit small business owners. These include online tax help, protection against identity theft and the home office deduction. Online Services – The IRS website offers multiple options for small business owners. The “Sharing Economy Tax Center” and a video […]

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