Today, we wrap up our discussion of the changed IRS code, the changes made by the Tax Cuts and Jobs Act (sic). The series started last Wednesday or Thursday, where we discussed personal tax provisions of the law. On Monday, we started discussing the business tax provisions. And, now some 6000 words later, we are completing the changes in the bill.
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.)
We’re not quite half-way throught yet. (The most recent update on our tax laws can be found here.) Today, we’ll talk about some exemptions from Obamacare, changes for employers (and when we’ll get their 1099s and W2s), plus changes to our social security taxes and overseas employment exemptions.
So, Monday, I started this 4000+ word piece on the changes that affect the tax laws and how filings are to be done this coming tax season. So, you will understand how (and why) to file your business or personal taxes. But, always paying the lowest amount of money required by law. Let’s continue!