Monthly Archives: March 2018
March 27, 2018
The IRS recently launched a new “IRS Account” portal for individual U.S. taxpayers, available at www.irs.gov/account (click the blue button that says “View your account”). Individuals who register and login to their secure accounts can review data from recently filed tax returns (Form 1040), obtain refund status information, and pay taxes online from a bank account or credit card account. Click here to view an illustrative screenshot of the IRS Account portal.
March 15, 2018
The IRS announced it will be closing its Offshore Voluntary Disclosure Program (OVDP) as of September 28, 2018. The news follows a significant decrease in taxpayer participation in the program, coupled with advances in third-party reporting of offshore account information and increased awareness of reporting obligations. All submissions made by the deadline must ...
March 6, 2018
The deadline for individuals to file and pay their 2017 taxes will be Tuesday, April 17, 2018, which is six weeks from now. As we continue to work through “tax season,” I suggest that taxpayers add a withholding review to their to-do list for “tax season.”
March 5, 2018
IRS Announces Withholding Tax Changes for 2018: Employers and Employees Should Review Their W-4 Forms During “Tax Season” By Yale Yechiel N. Robinson The Massachusetts Tax Alert™ The Internal Revenue Service (IRS) announced on February 28, 2018 that it has updated its online withholding calculator and the W-4 form to comply with the new tax rates under the Tax Cuts and Jobs Act of 2017. Most employers have already adopted the new tax withholding tables for their employees’ wages based on the revised IRS Notice 1036.