We began discussing the proposed changes to personal tax filings yesterday. We’ll finish with the changes to the individual tax system today-and then go on to the changes to the business tax filings.
Let’s reiterate what I said yesterday– I don’t expect this bill to pass. Certainly not the way it was presented in the bill. These posts were written on 2 November- when the bill was published. Since then, the House has proposed changes to its own bill. And, 1 week later, the Senate published a slightly different version- which means that I will be adding to this series to contrast the differences between the two bills. (This series that was 5 blogs will now be 7.)
You did it! You held on for the seven posts. Today is the last one. Where we will learn about the changes to how long extensions may be (some are shorter and some are longer than before). Oh, and penalties- they’re going up. (Of course!)
Come on! You’ve made it this far. There’s only one more after today’s blog!
Today, we’ll discuss the changes that the IRS has made in collecting overdue taxes, how we’ll be able (or not) to request (and be granted) extended payment plans, and the changes in the filing dates for some taxes.
Oh, good! I haven’t lost you yet. Even though there was a weekend separating all these sections.
Today, we’ll continue our discussion of Section 179 (this is depreciation that really lets us off the entire- or most of- the capital costs in one fell swoop. Plus, the potential sea change in partnership rules that may to handle new IRS method of auditing the .
I know, I know. You already hate reading about taxes. But, you really need to know about these changes. Today, we’ll continue with Part IV. (Here is a link to yesterday’s Part III.)