Archive | Washington Hotline

Washington Hotline – November 19, 2019

WASHINGTON NEWS Benefits of Bunching Charitable Gifts With the doubling of the standard deduction in 2018, the number of taxpayers who itemized deductions declined substantially. In 2017, nearly 30% of taxpayers itemized, but with the larger standard deductions, only about 10% of taxpayers will itemize this year. The standard deductions in 2018 doubled to $24,000 […]

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Washington Hotline – October 22, 2019

WASHINGTON NEWS National Work and Family Month – Military Family Benefits In 2003, the U.S. Senate passed a resolution establishing October as National Work and Family Month. In support of military families, the IRS published IR-2019-169 to explain the tax benefits created specifically for military families. Additional information is available in IRS Publication 3, Armed […]

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Washington Hotline – September 24, 2019

WASHINGTON NEWS IRS Program to Increase Employee Smartphone Security One important function of the Treasury Inspector General for Tax Administration (TIGTA) is to review IRS security practices. The IRS is tasked with protecting personal tax information for over 140 million American taxpayers. TIGTA regularly reviews IRS policies to encourage higher levels of security for these […]

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Washington Hotline – September 19, 2019

WASHINGTON NEWS Making Correct Quarterly Estimated Tax Payments In IR-2019-152, the Service reminded certain taxpayers the third quarter estimated tax payment is due on September 16, 2019. The fourth quarter’s estimated tax payment for tax year 2019 will be due on January 15, 2020. Most investors, self-employed individuals and workers in the sharing economy do […]

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