Monthly Archives October 2017

2017 3rd QTR Form 941 is due on October 31, 2017.  If you timely deposited all taxes when due, you have 10 additional calendar days to file the return.
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The IRS announced the following 2018 tax year inflation adjustments: The standard deduction for married filing jointly will rise to $13,000 for tax year 2018. The standard deduction for single taxpayers and married individuals filing separately, will rise to $6,500 in 2018. The standard deduction for heads of households will rise to $9,550. The personal exemption for tax year 2018 rises to $4,150.  This exemption is subject to a phase-out that begins with adjusted gross incomes of $266,700 ($320,000 for married couples filing jointly). It phases out completely at $389,200 ($442,500 for married couples filing jointly.) The limitation for itemized
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Taxpayers who filed extensions should complete and file their returns by Monday, October 16th. Information from the IRS about tax credits can be found here. 7 reminders for extension filers can be found here. If you owe taxes, filing on time will help you avoid a potential late filing penalty. If you owe tax money and can’t pay all of your taxes, pay as much as you can to reduce interest and penalties for late payment. The IRS offers installment agreements so taxpayers can pay their bill over time.  Interest and penalties will accrue until the tax bill is paid.  So, it’s
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Taxpayers who filed extensions should complete and file their returns by Monday, October 16th. Information from the IRS about tax credits can be found here. 7 reminders for extension filers can be found here. If you owe taxes, filing on time will help you avoid a potential late filing penalty. If you owe tax money and can’t pay all of your taxes, pay as much as you can to reduce interest and penalties for late payment. The IRS offers installment agreements so taxpayers can pay their bill over time.  Interest and penalties will accrue until the tax bill is paid.  So, it’s
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