Since the passage of the Tax Cut and Jobs Act (December 2017), it has become more difficult to discern how to prepare payroll withholding to ensure there is no balance due when failing taxes. (You do know it’s not a great idea to over withhold, since the IRS does not provide interest on your money that they will return later. Sure you get it in one big pile, but you can probable do better investing the extra funds during the year.)
Tag Archives: Income tax
Tax Planning- the time is now!
Inflation Reduction Act (sic)
Yes, it’s true. Despite everyone thinking Congress can’t get anything done, another major package has been passed- and signed into law by President Biden.
SALT Limitation Eroded
Y’all recall when I told you that the SALT limitation imposed by the GOP would not stand for long. And, no, I didn’t say that meant that the limitation would be repealed.
That worldwide tax?
Remember that promise to tax all global (large) corporations a minimum of 15%?
We’ve been negotiating with the OECD (the Organization for Economic Cooperation and Development) for a while- even before Donald Trump was president. The original proposal was called Base Erosion and Profit Shifting [BEPS].
How To Pay For the Infrastructure Bill
So, I told you earlier that President Biden (and the Democratic Party) are considering a slew of new taxes to ensure that the Infrastructure Bills don’t accrue those bandied about $ 3.5 trillion expenditures.
Have your blood pressure meds ready…
You already know that I consider TheDonald the most corrupt president (along with his administration) that America has endured since the days of Tricky Dick.
WFH Problems
Talk about the new normal! Bet you that 12 months ago, almost every one of us would complain about the government speak in the headlines. What the heck (yeah, I know, most of us rely on WTF) does WFH mean? Now, it rolls off our tongues like we've known this concept for decades!
The ides of April in July????
OK. The pandemic has changed our lives. Especially when it comes to the IRS.
First of all, the pandemic put a hold on IRS’ imposing penalties, fines, liens, and the collection of payments. But, on the 16th of July, all those restrictions disappear.