April 1, 2019

Important Changes to Itemized Deductions when Filing Taxes

Tax law changes in the Tax Cuts and Jobs Act (TCJA) affect almost everyone who itemized deductions on tax returns they filed in the past. One of these changes is that TCJA nearly doubled the standard deduction for most people. As a result, many people may find it better to take the standard deduction. However, some people may still think about itemizing if their total deductions […]
February 6, 2019

Where’s My Refund? Tool lets Taxpayers Check Status of their Refund

The best way for you to check the status of your refund is to use the Where’s My Refund? tool on IRS.gov. This tool gives you access to your tax return and refund status anytime. Furthermore you can do this from the comfort of your home, at work, or directly from your phone. All you need is internet access and three pieces of information: Social Security […]
January 29, 2019

IRS Reminds Employers, other Businesses of Jan. 31 Filing Deadline for Wage Statements, Independent Contractor Forms

WASHINGTON — The Internal Revenue Service today reminds employers and other businesses of the Jan. 31 filing deadline that applies to filing wage statements and independent contractor forms with the government. Furthermore, The Protecting Americans from Tax Hikes (PATH) Act requires employers to file their copies of Form W-2, Wage and Tax Statement,  Form W-3,Transmittal of Wage and Tax Statements, with the Social Security Administration […]
December 31, 2018

Tax Credit for Tesla Electronic Drive Motor Vehicle

In Washington, The IRS announced that Tesla, Inc. has sold more than 200,000 cars eligible for the plug-in electric drive motor vehicle credit during the Q3 of 2018. As a result a phase out of the tax credit available for customers of new Tesla plug-in electric vehicles beginning Jan.1, 2019. Furthermore, qualifying vehicles by Tesla are eligible for a $7,500 credit if purchased before Jan. […]