Millions of undocumented immigrants in America are now in a constant state of panic and anxiety given President-elect Donald Trump’s strict and staunch views on illegal immigration. Many are now wondering what will happen to them especially after reports state that immigration reform will be one of the first issues that Trump will tackle after he…
Details
When most small business owners think of being audited, they naturally imagine an audit by the Internal Revenue Service (IRS). Indeed, these can happen to any small business, but there are other types of audits too. For example, software companies have increased software license audits in recent years, making it imperative that businesses keep up…
Details
WASHINGTON — As tax filing season approaches, the Internal Revenue Service is reminding taxpayers there are things they should do now to get ready for filing season. For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2016 tax returns. For example, charitable contributions are deductible in the year…
Details
President-elect Donald Trump has a big year ahead of him. On the policy front, two of the first tier issues will be tax reform and immigration reform. Think they don’t have much to do with each other? Think again. Let’s start with immigration. On a recent “60 Minutes” interview, in his interview with Time Magazine’s…
Details
Dec. 13 — The Internal Revenue Service’s budget for 2017, perhaps unsurprisingly, doesn’t look too pretty. President Barack Obama on Dec. 10 signed a continuing budget resolution to fund the federal government through April 28, meaning funding will continue at 2016 levels. While a flat budget may be better than a cut, it is still…
Details
WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5…
Details
While many Americans are busy decking the halls, crooks are hard at work hatching new tax-related scams. That’s because scammers (like some eager Americans and tax preparers) are now gearing up for filing season — which each year brings a spike in schemes aimed at cheating taxpayers out of money and getting them to part…
Details
Barring any late glitches, the federal income tax return filing season is set to begin on Monday, Jan. 23, 2017, the IRS announced last week. The nation’s tax-collection agency also cautioned taxpayers who claim certain credits that they will have to wait longer for refunds. The last day for filing 2016 tax returns without an…
Details
“They got brought here at a very young age, they’ve worked here, they’ve gone to school here. Some were good students. Some have wonderful jobs. And they’re in never-never land because they don’t know what’s going to happen.” Which political leader made these compassionate remarks about the “dreamers” – the roughly 1.8 million children who…
Details
While President-elect Donald Trump has been preparing to take office next month, a growing number of “sanctuary cities” have vowed to limit the scope of their assistance with his immigration policies. Trump said he would crack down on and deport millions of undocumented immigrants. He also said he would take a tough stance on so-called sanctuary…
Details