Private Debt Collection

The Internal Revenue Service began a new private collection program of certain overdue federal tax debts selecting four contractors to implement it. The new program, authorized under a federal law enacted by Congress, enables these designated contractors to collect, on the government’s behalf, outstanding inactive tax receivables. Authorized under a federal law enacted by Congress…

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401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.  The IRS today issued technical guidance detailing these items in Notice 2018-83. Highlights of Changes for 2019 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the…

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IRS issue proposed regulations on new Opportunity Zone tax incentive

The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment in distressed communities throughout the country through tax benefits. Under a nomination process completed in June,…

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IRS comienza a recibir solicitudes de renovación de ITINs que vencen a fines de 2017

NO PERMITAN QUE SUS REMBOLSOS DE IMPUESTOS SUFRAN RETRASO  WASHINGTON – El Servicio de Impuesto Internos, IRS, ya comenzó a recibir solicitudes de renovación para aquellos Números de Identificación Personal del Contribuyente, ITINs por sus siglas en inglés, programados para expirar a fines de este año. La agencia urge a los contribuyentes afectados por los…

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The Real Goal Of Trump’s ‘Merit-Based’ Immigration Plan May Just Be Fewer Immigrants

WASHINGTON ― President Donald Trump claimed in his speech to Congress last week that he could “save countless dollars, raise workers’ wages and help struggling families” with one trick: switching to a “merit-based” immigration system, like Canada’s or Australia’s. He made a similar case several days later in a tweet. First, he promoted Green Card Warrior,…

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