Category: Tax

Penalty and Interest Waiver

On March 17, 2020, Treasury Secretary Steven Mnuchin announced that, while the due date for filing 2019 tax returns would not be postponed, the IRS would waive penalties and interest on tax payments for 90 days. The waiver only applies to individual taxpayers owing up to $1 million in taxes and corporations owing up to $10 million in taxes.

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Identity Protection

IRS Offers Identity Protection PIN

Categories: IRS, Tax

The IRS is launching a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent tax return. How does it work? Are you eligible for the program?

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2020 Inflation Adjustments

Categories: Tax

The IRS made inflation adjustments for various 2020 tax items and they will apply to a wide range of taxpayers. A few examples that may impact you are included in this article.

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The SECURE Act | Retirement Plan Changes

President Trump signed the SECURE Act of 2019 as part of the government’s spending bill and Congress is planning to enact a number of changes that will significantly affect the retirement landscape. The SECURE Act encourages employers to offer retirement plans that were considered too expensive to administer and allows small employers to set up and offer 401(k) plans.

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Taxes and Finances | Car Leasing

Categories: Tax

Other than a home, a car is typically the biggest purchase you will make. Many car owners do not consider the financial implications. What are the benefits and disadvantages of buying and leasing a car?

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Tax and Estate Planning | Blended Families | Second Marriages

Categories: Estate Planning, News, Tax

Blended families can create complex tax and estate planning issues.  With more children living in blended families, parents need to plan for short and long-term tax and estate matters. According to a  Marketwatch survey, approximately 63% of women are in a remarriage, which can create financial complications when it comes to tax liabilities. One challenge for couples is agreeing on inheritances for first and second marriage children.

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