2018 Tax Payments Fall Short? You May Be Eligible for Penalty Relief The IRS announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty for any...
Category Archives: Tax Updates
The IRS has issued final regulations on determining allowable deductions based on qualified business income (QBI) from pass-through entities. This break is available only through 2025, unless it’s extended by future legislation. The QBI deduction was originally designed to achieve greater tax parity for pass-through business entities and C corporations, which are now subject to a flat 21%...
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key tax-related forms,...
