Tag: tax services

Back Taxes Could Cost You Your Passport

taxes
If you owe too much in back taxes, your passport application could be denied.

If you’re behind on your taxes, you could face trouble traveling internationally.

That’s because the government plans to reject passport applications from taxpayers who owe more than $51,000 in overdue taxes.

According to CNBC:

The State Department denies passport applications based on the information on outstanding debts it receives from the IRS.

As many…

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Treasury Secretary Promises Postcard-Sized 1040 Form

taxes
Taxes could be simpler next year.

Treasury Secretary Steven Mnuchin said the IRS 1040 form for taxes being released this week will be much smaller than the current form.

“It will be a postcard, as we have promised,” he said, according to the Wall Street Journal. “Hardworking taxpayers won’t have to spend nearly as much time filling out their taxes.”

That simpler form is the result…

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As IRS Cuts Back On Audits, It Still Pays To Work With Wilton Manors Accountants

Wilton Manors accountants
The Wilton Manors accountants of Sterling Accounting can help you through all tax issues.

The number of IRS audits has dropped to the lowest level since 2002. But even as the IRS audits fewer taxpayers, it still pays to consult with Wilton Manors accountants from Sterling Accounting.

According to the Wall Street Journal, the IRS audited about one in 160 individual tax returns in…

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Court orders Coinbase to share thousands of users info. with IRS

Bitcoin
The IRS wants to know about bitcoin holdings.

Fort Lauderdale accountants‘ clients could have a new worry, if they have bitcoin holdings. A federal court in California has ordered Coinbase to turn over to the IRS identifying records for clients who had more than $20,000 in bitcoin pass through their accounts this year.

According to the Verge, the bitcoin exchange estimates 14,355 users meet the government’s requirements.

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10 States With The Highest Commercial Property Taxes

top 10 cities with highest commercial property taxes An annual report from Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence is pointing out the recent shift in property values and how it’s affecting taxes across all 50 states. So where are the 10 states with the highest commercial property taxes today? “Property taxes that are rebounding along with recovering property values should be no surprise to…

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FASB Advises Against Adopting New Hedge Standards Too Quickly

The long awaited revisions to the Financial Accounting Standards Board’s hedge accounting standard are in, but the FASB is advising against adopting the new standards too quickly.

“The accounting standards update for hedging, which FASB issued Monday, takes effect for public companies in 2019 and private companies in 2020 (see FASB releases hedge accounting standard). But FASB is also allowing early adoption for companies…

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How Much Will That $758M Powerball Winner Pay In Taxes?

lottery payment taxes It’s the largest lottery winning ever that will be going to one individual winner, but with that large payout, there will also be a large tax bill incoming.

“The one lucky person holding the $758.7 million Powerball jackpot ticket sold in Massachusetts will have an avalanche of financial decisions to make in the coming days and weeks.

It’s the biggest single lottery jackpot win…

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What’s The Secret To Success In Business? Hear From Fortune 500 CEOs & Execs

the road to successStart paving your road to business success at an early age! Fortune 500 CEO’s and top executives are weighing in on how you can start growing your base in your 20’s…

“Current and former Fortune 500 executives, as well as other business leaders, have given some great career advice on Business Insider’s podcast, “Success! How I Did It.”  From Sheryl Sandberg to Steve Ballmer,…

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Avoiding Getting Knocked Out By “Failure To Pay” Taxes

As we take on more responsibilities, investments, and endure life changes the tax implications can grow significantly. And the failure to plan this out properly can end in a big debt owed when tax time rolls around…

“In order for taxpayers not to find themselves in an underpayment or failure to pay situation, they should regularly review their tax withholding and schedule of estimated tax payments, particularly after…

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Avoid IRS Troubles With Your Taxes

Tax time may not be everyone’s favorite time of the year, but at Sterling Accounting, there’s no lost sleep! Don’t run into troubles with the IRS over your taxes – be sure you are going to rank on their good side with the expert help of Sterling Accounting.

“More Americans who pay their income taxes each quarter are being penalized by the IRS for making mistakes or…

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