It’s Not Too Late! Retirement Account Contributions for Tax Year 2017
For those of you who have been paying close attention to the Tax Cuts and Jobs Act, a direct change was made to Roth IRAs. The change removes [...]
The Tax Cuts and Jobs Act: Tax Reform
The Tax Cuts and Jobs Act was signed by President Trump on December 22nd and is now law! The new law makes sweeping changes to the U.S. tax code [...]
Tax Reform: The Conference Committee
The Conference Committee has reached a deal on tax reform! The bill will now go to the full House and Senate where it is expected to pass. I will [...]
Tax Reform
From the Desk of Michael T. McCormick Tax Reform Looks like a coalition of Administration, Senate and House leaders have reached a tentative tax plan. The below is a rough [...]
Divorce or Separation May Affect Taxes
From the Desk of Michael T. McCormick Divorce or Separation May Affect Taxes Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have [...]
Taxpayer Advocate Service Mid-Year Report to Congress
From the Desk of Lauran L. Stevenson Taxpayer Advocate Service Mid-Year Report to Congress This week’s post will introduce the Fiscal Year Objectives Report to Congress. This report presents a [...]
New IRS Scam: The IRS Sends Out Alert
From the Desk of Lauran L Stevenson New IRS Scam: The IRS Sends Out Alert On June 15, 2017, the IRS sent out a warning to taxpayers of a new [...]
IRS Tips to Taxpayers Preparing for Hurricane Season
From the Desk of Lauran L. Stevenson IRS Tips to Taxpayers Preparing for Hurricane Season The Atlantic hurricane season officially begins June 1. Last week, the Internal Revenue Service offered [...]
President Trump’s New Tax Proposal
From the Desk of Michael T. McCormick President Trump’s New Tax Proposal President Trump outlined his new tax proposal on Wednesday that the Administration intends to submit to Congress. “Today [...]
What to Do When an IRS Letter Arrives: “Tips” from the IRS
From the Desk of Lauran L. Stevenson What to Do When an IRS Letter Arrives: “Tips” from the IRS Recently, the IRS issued several tax tips on how to handle [...]
Record Keeping
From the Desk of Michael T. McCormick Record Keeping I am often asked by clients, “What records must I keep to take a deduction?” The answer to that can be [...]
Year End Tax Planning Series
From the Desk of Michael T. McCormick Year End Tax Planning Series Although tax planning is a 12-month activity, yearend is traditionally the time to review tax strategies from the [...]