WASHINGTON, DC – APRIL 10: U.S. Federal Internal Revenue Service Commissioner Charles Rettig testifies before the Senate Finance Committee April 10, 2019 in Washington, DC. Getty Images Charles (“Chuck”) P. Rettig is the 49th Commissioner of the Internal Revenue Service (IRS) and was sworn in on October 1, 2018. Prior to joining the agency, Rettig spent
Taxes
Getty If you’re planning on filing your federal income tax return in the next few days, you’re not alone: the Internal Revenue Service (IRS) says some 50 million taxpayers have yet to file (as of April 12, 2019). No matter how close to the wire you get, as long as your return is postmarked by April 15,
Getty Ready to file your federal income tax return? If you owe taxes, don’t forget to pay what you owe by Tax Day. If you pay your taxes in full by April 15, 2019, you’ll avoid additional penalties and interest. Here are several options for paying your tax bill this year: 1. Pay by cash. It
CANADA – JANUARY 30: Zip Drive Iomega Corp (Photo by Michael Stuparyk/Toronto Star via Getty Images)Toronto Star via Getty Images It’s my annual Taxes from A to Z series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim house office expenses or whether to deduct a capital
Fees For getting tax refunds quickly aren’t often clearly disclosed, the Government Accountability Office warns Photo credit: Getty Getty Fees to get tax refunds quick are murky, the Government Accountability Office, the watchdog of Congress, charged in a report today. The leveThe level of transparency on tax refund product fees varies and product fees and
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses some potential effects of remarriage and divorce on benefit eligibility, benefits received after the recipient has died, what happens when benefits are lost to the earnings test, withdrawing or
Getty It’s my annual Taxes from A to Z series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim house office expenses or whether to deduct a capital loss under the new law, you won’t want to miss a single letter. Y is for yegg. A little
Traveling the world going from one fine restaurant to the next searching for the perfect steak. It just doesn’t get any better than that or so it seems. But one thing that could make it better is doing it with tax-deductible dollars. That was what Maurice Dreicer did. And it worked for many years. Finally,
Getty You may think you know what a taxpayer with foreign assets looks like. It’s easy to paint a picture of the super-rich jetting off to the Caymans, but that’s more Hollywood-driven than real life. Taxpayers with control over foreign assets come in all shapes and sizes. It’s the executive who works in the U.S.
Share to facebook Share to twitter Share to linkedin Getty It’s my annual Taxes from A to Z series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim house office expenses or whether to deduct a capital loss under the new law, you won’t want to miss
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses delayed retirement credits (DRCs) in the absence of filing and suspending, when DRCs can be earned, eligibility for both retirement and widow(er)’s benefits, public pensions and benefits and maximizing
Getty Where are all of the taxpayers? As tax season comes to a close, the Internal Revenue Service (IRS) hasn’t yet seen an expected rebound in filing numbers after a slow start. Year-to-date statistics show that, compared to 2018, the numbers of tax returns received and processed are still lagging. Tax season opened on January 28, 2019.
EU Commissioner for Energy and Climate Action Miguel Arias Cañete wants to end a requirement for unanimous voting on energy issues in the European Council (Dursun Aydemir/Anadolu Agency/Getty Images) Getty Though power has steadily flowed from national capitals to Brussels over the past two decades in the European Union, there have been key areas which
Getty Getty New York’s ‘millionaire tax’ was meant to be temporary, with a short three-year life, when it took effect back in 2009, a response to the financial crisis. But now, 10 years later, the state budget Gov. Andrew Cuomo just signed into law, has extended the tax which hits millionaire earners with a top
Bronze statue of Albert Gallatin (1761-1849), the longest serving US Secretary of Treasury, stands before the Treasury Department in Washington, DC. Getty Last Thursday the Real Property, Trust & Estate Law Section of the American Bar Association sponsored a webinar that Treasury lawyers Audrey Ellis and Wendy Kribell participated in. Steve Gorin, J.D., and Robert
Next Avenue recently asked readers to send us their top questions about their 2018 tax returns and we would answer as many as we could. In the story published in late March, three tax experts sorted out confusion about: who needs to file; standard deduction vs. itemized deductions; whether certain expenses are tax-deductible and late
Getty It’s my annual Taxes from A to Z series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim house office expenses or whether to deduct a capital loss under the new law, you won’t want to miss a single letter. U is for Unadjusted Basis. Basis
Maybe the effect of smaller tax refunds on U.S. auto sales won’t be so bad this year after all, as the Internal Revenue Service has done some catching up in the last month. “There were some early reports that tax refunds were down from the prior year,” said Emily Kolinski Morris, chief economist for Ford
Hopefully your tax returns are not as complicated at Donald Trumps Tax Returns. Either way, how long do you need to keep all your tax records? 2017. / AFP PHOTO / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images) Getty For how long you should keep tax records is something everyone should know. Another
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses the difference between restricted applications and filing and suspending, the merits of a plan based on one spouse filing early, child-in-care spousal benefits, whether to file for spousal benefits