It’s probable that “tens of millions” of taxpayers have paid this sort of penalties and interest during the three and a half years that the disaster declaration was in force. You can check your returns from the years in question, or request a “tax account transcript” from the IRS, to see whether you are among those impacted.
After a week, it’s really beginning to sink in: Donald Trump has won a second term as President of the United States. Although public polling had been tight for quite some time, the clarity of the result this time caught many of us by surprise. Financial Planning Magazine polled “wealth…
“ … but in this world nothing can be said to be certain, except death and taxes.” — Benjamin Franklin Most of us are not excited about the prospect of paying taxes every spring — but, perhaps in hopes of getting an unpleasant task out of the way…
This year, in the push and shove of the turbulent markets, some mutual fund managers were not able to balance out gains and losses the way they might have liked, so those funds are planning rather large capital gains distributions.
As we expected, the “final” revisions made to the tax code by the “Tax Cut and Jobs Act” passed into law last December weren’t quite as final as supposed. There are a handful of provisions that didn’t turn out the way the Congressional Republicans intended, so they are trying to…
Tax “Reform” and the Impact on Your Finances Through much of 2017, there were hints at and whispers about the possibility of dramatic changes to the American tax code. “A complete overhaul” – “More significant than the Reagan-era reforms” – “The biggest re-envisioning of the tax laws in a…
Happy New Year! January always has us looking in two directions – back over the year just past, and ahead at the year to come. Over the next few weeks, American taxpayers will begin to receive the annual flurry of forms regarding their financial life in 2016. This would be…
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