News

Looking for a Late Tax Deduction?

Source: money.usnews.com - Jan 22, 2020

Now that January is solidly underway, many investors are starting to prepare their tax return paperwork. At the very least, many are reviewing their finances from the past year and trying to figure... Read more >

Category: General Business

Tax season 2020: The IRS' biggest problems and how they may affect you

Source: foxbusiness.com - Jan 22, 2020

With tax season officially beginning next week, a watchdog group is concerned about a host of problems that could plague both the IRS and taxpayers this year. Acting National Taxpayer Advocate... Read more >

Category: General Business

Congress passes new rule that allows new parents to cash out $5,000 from 401(k)s—but experts say think twice

Source: cnbc.com - Jan 22, 2020

Parents will have a new source of money to tap to help with any expenses tied to adding a new child to the family. On Thursday, the Senate passed a $1.4 trillion spending deal that, among other... Read more >

Category: General Business

Tame Your Taxes: Making tax season less stressful

Source: boonvilledailynews.com - Jan 18, 2020

I trust you enjoyed the holidays and were able to spend time with loved ones. I am happy to share that my wife and I became grandparents for the first time on January 10. Our son and... Read more >

Category: General Business

7 Costly Tax Mistakes to Avoid

Source: fool.com - Jan 18, 2020

Watch out for these errors and get your return right the first time. The holidays are over, and everyone's least-favorite time of the year is almost here: tax season. You might feel tempted to... Read more >

Category: General Business

Tax cuts 2.0 could include this middle-class windfall: Kudlow

Source: foxbusiness.com - Jan 18, 2020

The Trump administration has begun reviewing ways to carry out its goal of cutting taxes for the middle class. While lowering the payroll tax isn't high on the White House's list, adjusting the... Read more >

Category: General Business

City of New Orleans says it will take months to recover from recent cyber attack

Source: fox8live.com - Jan 17, 2020

NEW ORLEANS, La. (WVUE) - The City of New Orleans says the recent cyber attack on its networks had a more than seven million dollar impact, a number Mayor Latoya Cantrell says continues to grow.... Read more >

Category: General Business

Taxpayer Advocate finds problems with tax refund delays and taxpayer service

Source: taxprotoday.com - Jan 16, 2020

The Internal Revenue Service’s new anti-fraud filters are unnecessarily flagging millions of tax returns and delaying legitimate tax refunds for weeks or months, according to a new report from... Read more >

Category: General Business

White House economist: Tax cuts 2.0 are coming

Source: foxbusiness.com - Jan 16, 2020

Larry Kudlow, director of the White House National Economic Council, spoke with FOX Business' Liz Claman on Wednesday, mere hours after the historic U.S.-China trade deal was signed by President... Read more >

Category: General Business

IRS provides tax relief for those with discharged student loans

Source: thehill.com - Jan 16, 2020

The IRS and Treasury Department on Wednesday released guidance that will allow more people with discharged student loans to receive tax relief. Under the guidance, certain taxpayers with... Read more >

Category: General Business

6 Lesser-Known SECURE Act Provisions Impacting 401ks

Source: 401kspecialistmag.com - Jan 16, 2020

While the major changes resulting from the SECURE Act’s annuities, RMD and open MEPs provisions—plus the elimination of the “Stretch” IRA—have grabbed most of the headlines since the Act... Read more >

Category: General Business

IRS: Make a Tax Payment Now, Avoid a Tax-time Surprise

Source: mychesco.com - Jan 13, 2020

WASHINGTON, D.C. — Taxpayers who paid too little tax during 2019 can still avoid a tax-time surprise by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The... Read more >

Category: General Business

Report: Louisiana tax climate ranks 10th worst in U.S.

Source: thehayride.com - Jan 13, 2020

Louisiana finished 41st in a new study by the Tax Foundation , which identifies states that best structure their tax systems. All 50 states tax private property and unemployment insurance,... Read more >

Category: General Business

Majority of Americans favor wealth tax on very rich: Reuters/Ipsos poll

Source: reuters.com - Jan 10, 2020

WASHINGTON/NEW YORK (Reuters) - The idea of imposing a wealth tax on the richest Americans has elicited sharply divergent views across a spectrum of politicians, with President Donald Trump... Read more >

Category: General Business

NFL playoffs: Do state taxes affect your team's chances of winning?

Source: foxbusiness.com - Jan 10, 2020

The NFL divisional round playoffs kick off this weekend and if your team didn’t make the cut, you may want to blame its home state’s tax rates. According to a paper by Matthias Petutschnig of... Read more >

Category: General Business