Monthly Newsletter for January 2019

by in Newsletter on Jan. 8, 2019

IRS confirms tax filing season to begin January 28

WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.

“We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” said IRS Commissioner .

Monthly Newsletter for December 2018

by in Newsletter on Dec. 4, 2018

IRS, Security Summit Partners warn public:
It’s shopping season for identity thieves, too; Tax Security Awareness Week offers tips

WASHINGTON ― With the holiday shopping season in full swing, the Internal Revenue Service and Security Summit partners warn taxpayers to take extra steps to protect their tax and financial data from identity thieves.

The holidays offer cybercriminals a chance to steal financial account information, Social Security numbers, credit card information and .

Monthly Newsletter for November 2018

by in Newsletter on Nov. 2, 2018

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

WASHINGTON — 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 federal .

Monthly Newsletter October 2018

by in Newsletter on Sep. 27, 2018

New credit benefits employers who provide paid family and medical leave
Eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for a new business tax credit. This new employer credit for family and medical leave is part of tax reform legislation passed in December 2017. Here are some facts about the credit to help employers find out if .

Monthly Newsletter September 2018

by in Newsletter on Sep. 6, 2018

Taxpayers should check out these helpful tax tools

Questions about taxes could come up any time of the year. Whether it’s about tracking a refund or paying a bill, taxpayers can find answers to their questions on IRS.gov. Here are some of the most popular IRS tools:

  • IRS Free File. Taxpayers who filed an extension can use IRS Free File to prepare and e-file a federal tax return. Free File is .

Monthly Newsletter for August 2018

by in Newsletter on Aug. 10, 2018

North Carolina Sales and Use Tax Update

 

The Sales and Use Tax Division has published SD-18-6 Sales and Use Collections on Remote Sales 8-7-2018.  The directive comes after the U.S. Supreme Court’s June decision in South Dakota v. Wayfair, in which the court found that physical presence is not necessary to create a substantial nexus between a remote seller and a taxing state.  Accordingly, North Carolina will enforce an existing law .

Monthly Newsletter for July 2018

by in Newsletter on Jul. 13, 2018

Taxpayers who owed tax this year should check their withholding soon

Taxpayers who owed additional tax when they filed their federal return earlier this year should do a “paycheck checkup” as soon as possible. The IRS Withholding Calculator and Publication 505, Tax Withholding and Estimated Tax, can help these taxpayers do a checkup and avoid another possibly bigger tax bill next year.

Following the Tax Cuts and Jobs Act, which .

Monthly Newsletter for June 2018

by in Newsletter on Jul. 13, 2018

IRS offers summer tips for temporary jobs, marriage, deductions and credits

WASHINGTON – Before starting a summer job, taking a vacation or sending the kids off to camp, the Internal Revenue Service wants taxpayers to know that some summertime activities may qualify for tax credits or deductions. The IRS also recommends that taxpayers check the amount of their withholding taxes now to help avoid surprises next filing season.

Here are some tips .

Monthly Newsletter for May 2018

by in Newsletter on May. 7, 2018

Disasters Don’t Plan Ahead, but You Can

Hurricane Preparedness Week is May 6-12. The IRS reminds taxpayers to prepare for hurricanes and other natural disasters now. By taking a few steps before disaster strikes, taxpayers can reduce their stress when it comes time to file claims or rebuild after the catastrophic event.

Here are some things for folks to consider:

  • Update Emergency Plans. Because a disaster can strike any time, taxpayers should review .

Monthly Newsletter for March 2018

by in Newsletter on Feb. 28, 2018

IRS Can Help Taxpayers Get Form W-2

Most taxpayers got their Form W-2, Wage and Tax Statement, by the end of January. Taxpayers need their W-2s to file an accurate tax returns, as the form shows an employee’s income and taxes withheld for the year.

Taxpayers who haven’t received their W-2 by the end of February should:

  • Contact their Employer. Taxpayers should ask their current or former employer for a copy of .