TAXATION

IRS Issues Updated 2018 Withholding Tables
 

IRS Issues Updated 2018 Withholding Tables

Posted: January 11, 2018
The IRS has released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018.

Rules for NJ and Federal Property Tax Deductions Vary Widely
 

Rules for NJ and Federal Property Tax Deductions Vary Widely

Posted: January 11, 2018
New Jersey taxpayers who prepaid one or two quarters of their 2018 property tax assessments at the end of 2017 need to be aware that the amount they can deduct on their federal tax return is not the same as the amount they can deduct on their state tax return.

National Taxpayer Advocate Delivers Annual Report to Congress
 

National Taxpayer Advocate Delivers Annual Report to Congress

Posted: January 10, 2018
National Taxpayer Advocate Nina E. Olson has released her 2017 Annual Report to Congress, describing challenges the IRS will face as it implements the recently enacted tax reform legislation and unveiling a new publication, “The Purple Book,” that presents 50 legislative recommendations intended to strengthen taxpayer rights and improve tax administration.

IRS Asking for Taxpayer Representatives’ Personal Information
 

IRS Asking for Taxpayer Representatives’ Personal Information

Posted: January 9, 2018
Taxpayer representatives are now being asked for their Social Security number and date of birth, in addition to their Centralized Authorization File (CAF) number, so that IRS agents can verify their identity when they call the IRS.

2018 Tax Filing Season Begins Jan. 29; Returns Due April 17
 

2018 Tax Filing Season Begins Jan. 29; Returns Due April 17

Posted: January 4, 2018
The IRS will begin accepting tax returns on Jan. 29, with nearly 155 million individual tax returns expected to be filed in 2018. The nation’s tax deadline will be April 17 this year – so taxpayers will have two additional days to file beyond April 15.

Tax Season – A Different Kind of Boot Camp
 

Tax Season – A Different Kind of Boot Camp

Posted: January 3, 2018
How one survives tax season at a public accounting firm is often personal and cannot be explained. With long hours and countless demands on staff, senior management has come to offer innovative services to boost morale and keep clients coming back.

7 Steps Employees Can Take to Adapt to the New Tax Law
 

7 Steps Employees Can Take to Adapt to the New Tax Law

Posted: January 3, 2018
Tax laws are likely to affect you. Whether you see a net benefit in your paycheck or end up paying more is a function of personal factors. The following article lists 7 steps in adapting to the new tax law.


Visit IRS.gov for Data Protection Resources
 

Visit IRS.gov for Data Protection Resources

Posted: December 21, 2017
As part of the “Protect Your Clients; Protect Yourself” campaign, the IRS is looking to raise awareness among tax professionals about their legal obligation to protect taxpayer data and to highlight the security risks posed by identity thieves.