The Taxpayer Advocate Service (TAS) is an independent organization within the IRS, originally created in 1979. Since then, legislation has expanded the rights, responsibilities, and duties of this organization. The…
It’s common knowledge that the IRS is understaffed and lacks the resources to effectively assess and collect all taxes owed. But when it comes to payroll taxes, don’t underestimate the…
Do you have a child who turns 17 in 2019? If so, you may be in for a tax hike next year. Why? Because the child tax credit ends the year…
While the new Form 1040 is smaller, the IRS has added six new numbered schedules that feed into this form. As a result, the new 1040 is in some…
Prior to the Tax Cuts and Jobs Act, taxpayers could deduct interest on mortgage loans up to $1 million as long as the proceeds were used for the purchase of…
For decades, business vehicle trade-ins have been treated as like-kind exchanges. A like-kind exchange, also known as a 1031 exchange, allows business owners or investors to exchange like property for…