As lawmakers pushed their tax overall package in 2017, Republican leaders would sometimes display a tax form printed on a postcard as proof that the Tax Cuts and Jobs Act would simplify life for millions of Americans come April 15. President Trump boasted that the postcard would enable Americans “to file their taxes on a… Continue reading IRS Decided to Retire the Postcard Size Tax Form Idea
Category: Tax Reform
Why is my Tax Refund not as much this year?
In a report issued by the Treasury Department on February 14, the average refund it is paying in 2019 has dropped to $1,949 from $2,135 in the prior year. In addition, the number of returns filed so far has dropped from 13.5 million last year to 11.4 million this year for the same period. With… Continue reading Why is my Tax Refund not as much this year?
2018 Tax Law Changes
Are you wondering how the new IRS tax law changes will affect you? Be prepared with need-to-know answers to all your tax reform questions. We’ve been keeping track of all the tax law changes so you don’t have to. Domestic Production Activities Deduction This deduction was repealed, making it no longer available after December 31,… Continue reading 2018 Tax Law Changes
Tax Reform
After months of intense negotiations, the President signed the $1.5 trillion tax reform legislation known as the “Tax Cuts And Jobs Act Of 2017” (the “New Law”) on December 22, 2017 – the most significant tax reform since 1986. It is no overstatement to say that this mammoth tax bill will have a significant impact on… Continue reading Tax Reform