Upcoming Tax Reporting and Compliance Returns: What’s Due in January 2018

Tax season commences soon – let’s review some upcoming tax reporting and compliance returns that are due in January of 2018. January 16, 2018 Form 1040-ES: Estimated Tax Payment (4th Quarter 2017) If you don’t pay your income tax obligations through withholding because you are self-employed or are otherwise required...

Major tax bill clears U.S. Senate by 51-49 margin, Part II

Other deductions will be eliminated entirely, including but not limited to: Home office expense deductions Unreimbursed employee expense deductions, such as those for teacher’s out-of-pocket classroom expenses State and local income tax or sales tax deductions for individuals, which would be devastating for taxpayers in high tax states, particularly California...

Federal Tax Calendar

Federal Tax Calendar  - 2011 January 10 — Employees who work for tips If you received $20 or more in tips during December, report them to your employer. January 18 — Individuals Pay your estimated tax for 2010 using Form 1040-ES. January 18 — Farmers & fishermen Pay your estimated...

FOREIGN BANK ACCOUNTS AND THE VOLUNTARY DISCLOSURE

Introduction For many years a large number of U.S. taxpayers have placed, and may continue to place, money in foreign bank accounts. Many of these individuals, knowingly or unknowingly, violate federal law by not disclosing these foreign accounts on their federal income tax returns. In an effort to step-up enforcement...