WASHINGTON — Tax day has come and gone for most people, but some taxpayers may still be dealing with their taxes. The IRS offers these tips for handling some typical after-tax-day issues:
A bipartisan group of lawmakers has reintroduced the Marketplace Fairness Act in another effort to bring more consistency to the imposition of state sales and use taxes on online purchases.
The act would give states the right to require out-of-state businesses selling online or via catalogs to collect state sales taxes on purchases sold into their states.
For those who have to pay someone to care for a dependent so they can work, there’s help in the Tax Code – provided they can figure out which program works best for them.
Right now, taxpayers can choose between two programs with overlapping requirements and benefits — the Dependent Care Assistance Program and the Dependent Care Tax Credit. Moreover, there are two more possibilities in the administration’s pending tax reform proposal.
It’s too late for your 2016 tax return, but there are plenty of things you can start doing and ought to start doing now to lower your 2017 tax bill.
What are some of those things? Here’s what experts – certified public accounts who are also personal financial specialists – recommend:
The American Institute of CPAs has proposed a new standard for auditing the financial statements of employee benefit plans, after the Department of Labor released a report criticizing the quality of ERISA plan audits.
Taxpayers can fix mistakes or omissions on their tax return by filing an amended tax return. Those who need to amend will find the following tips helpful.
More than two-thirds of U.S. consumers are concerned about tax fraud and identity theft this year, according to a recent survey. Their fears are well-founded: More than one-third reported having had their identity stolen in the past.
The burden of increased digitization of financial and general communication infrastructure is cyber security. While going paperless is faster, more efficient and more convenient for accountants, their clients, and everyone in between, security must remain a central consideration as firms go electronic. The IRS has issued several alerts about tax scams warning of a 400 percent surge in phishing and malware incidents this tax season, including a surge in W-2 phishing and TurboTax hacking attacks.
Some processes used by the Internal Revenue Service to ensure businesses comply with the Affordable Care Act’s employer shared responsibility provision didn’t work as they were supposed to, or they were delayed or canceled, according to a new government report.
Taxpayers get three extra days to file their federal and state tax returns this year. Normally, the deadline for filing tax returns is April 15, but this year it is Tuesday, April 18.
HUDSON VALLEY, NY — Early-bird taxpayers have already collected their income tax returns, while procrastinators have an extra weekend to submit their tax returns in 2017. Because of a holiday in the nation’s capital, the filing deadline to submit 2016 tax returns is Tuesday, April 18, 2017, rather than the traditional April 15 date, which falls on a Saturday.