Tag: tax services

How To Find The Best Tax Preparer

Getting the right tax preparers takes work.

One thing to be aware in tax season is that not everyone is truly an expert when it comes to preparing your return. And it’s worth your time and effort to find the best possible people to handle your tax issues.

These tips can help you choose the right tax preparation expert for you.

Check credentials

It’s relatively easy to get basic credentials to…

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IRS Use Of Private Tax Collectors Underperforms

An effort to have private collectors help the IRS has turned in an underwhelming performance.

A program that requires the IRS to use private companies to make tax collection attempts has not performed as advocates hoped, according to a report by the Treasury Inspector General For Tax Administration.

This latest report is the third time in three months an independent review has found the IRS

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Will Tax Changes Cost You?

tax changes
Don’t let tax changes catch you flat-footed.

If you haven’t taken into account tax changes, you may be in for a nasty surprise.

That’s because you may not be holding out enough of your paycheck to qualify for a refund next year, thanks to tax changes passed by Congress last year.

According to the Washington Post:

Sen. Ron Wyden (D-Ore.) and Rep. Richard Neal (D-Mass.)…

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Back Taxes Could Cost You Your Passport

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 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

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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