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been on a date with Uncle Sam all morning #savedeveryreceipt #taxes #taxseason #taxes2019 #2018taxes #taxreturn #1040 #longform (at Ridley Park, Pennsylvania) https://www.instagram.com/p/BwPfuA6nbm_/?utm_source=ig_tumblr_share&igshid=oltgqma6zgti
Tax forms are here! Stop by your branch to pick up a federal or state tax packet. Please note that due to cutbacks on printing, we no longer receive as many tax schedule variations. However, additional forms can be printed at our computers for $0.10 a page. #taxforms #taxes #2018taxes https://www.instagram.com/p/Bss11WDll65/?utm_source=ig_tumblr_share&igshid=1v0slnkdlhjhw
The Internal Revenue Service (IRS) has (finally!) announced a number of tax-related provisions for 2018, including, of course, the latest tax rate schedules and tax tables. This announcement is the official interpretation of the Tax Jobs and Cuts Act of 2017.
Get a jump on 2018 tax preparation with this info.....
www.1stChoiceBHL.com
Remember the TCJA of 2018? No? Need a little memory jog? The TCJA is the Tax Cut and Jobs Act of 2018 that was signed in December of each year and mad...
Get a head start on tax season with some info on tax changes.
www.1stChoiceBHL.com
Make sure you schedule an appointment online at https://www.schedulicity.com/scheduling/ATS5WC/services for your Income Tax Preparation!! You can also Call or Text 470-485-7416!!
www.amataxservices.com www.facebook.com/amataxservicesllc www.instagram.com/amataxservices www.twitter.com/amataxservices www.linkedin.com/company/Ama-Tax-Services www.amataxservices.tumblr.com
#tax #idotaxes #taxprep #2018taxes #isellinsurance #insuranceagent #lifeinsurance #appointmentsavailable #schedulenow #concierge #travel
Free Tax Software Available Now through Free File; Partnership Launches its 16th Year of Free Assistance to Taxpayers
WASHINGTON – Although the tax filing season officially opens Jan. 29, taxpayers starting today can begin preparing and e-filing their taxes for free with IRS Free File software. Free File software will automatically submit returns as soon as the filing season begins.
A dozen brand-name Free File partners, acting through the Free File Alliance, offer their software free to eligible taxpayers. Each partner sets its own criteria, but any taxpayer earning $66,000 or less will find one or more software products available. Some providers offer both free federal and free state tax preparation, a seamless way to file taxes.
Active duty military personnel with incomes of $66,000 or less may use any Free File software product of their choice without regard to the criteria.
Use the Free File Software Lookup Tool to find free federal and free state return options that match your situation.
Taxpayers now may use their smart phones or tablets to electronically prepare and file their federal and state tax returns through IRS Free File. Taxpayers may access the products using mobile devices in two ways: (1) Use the IRS2Go app, which has a link to the Free File Software Lookup Tool, or (2) use the device’s browser to go to www.IRS.gov/freefile. The IRS2Go app is available for Android and iOS devices.
The Internal Revenue Service and Free File Alliance mark their 16th year of providing free tax preparation products to taxpayers.
In those 16 years, taxpayers have filed 51.1 million free federal tax returns. This means a savings of $1.5 billion to taxpayers, using a conservative $30 per return preparation fee.
For taxpayers who earned more than $66,000, there are Free File Fillable Forms, which will be available Jan. 29. Free File Fillable Forms, provided by the Free File Alliance, is best for those taxpayers experienced in preparing returns by hand and with limited assistance.
The IRS urges taxpayers to prepare and file their returns only when they have all the tax documents they need to support their claims on income, credits and deductions. Taxpayers who use a final pay stub instead of a Form W-2 could end up with errors on their returns.
Although taxpayers may complete and file their taxes now through Free File, the returns will not be submitted to the IRS for processing until Jan. 29. The fastest way to get a refund remains e-file and direct deposit. The IRS issues most refunds in less than 21 days, although some require additional time.
The IRS reminds taxpayers that if their refund includes the Earned Income Tax Credit or the Additional Child Tax Credit, the agency by law must hold that refund until mid-February.
Things to be Aware of for the Upcoming 2018 Filing Season
Tax Cuts and Jobs Act Has Only Minimal Effect on 2017 Federal Returns Except for the three provisions listed below all of the new tax changes that were included in the recently passed Tax Cuts and Jobs Act go into effect beginning in 2018 or beyond. The following do go into effect at some point in 2017 and thus will be applicable for 2017 federal returns:
Medical Expense Deduction Threshold The AGI threshold for medical expenses on Schedule A will be 7.5% for all taxpayers for 2017 and 2018.
100% Bonus Depreciation Qualifying assets purchased after September 27, 2017 will be eligible for 100% bonus depreciation.
Home Mortgage Interest Limitation The taxpayer may deduct the interest on no more than $750,000 of principal residence acquisition indebtedness for loans incurred beginning on or after December 15, 2017. The limit is $1,000,000 for loans incurred before December 15, 2017.
Expiration of ITINs
At the end of 2017 the following ITINs expired and must be renewed if an individual wants to use it on a 2017 federal return:
ITINs with middle digits of 70, 71, 72 or 80.
ITINs that have not been used at least once in the last three consecutive years
See the
IRS Individual Taxpayer Identification Number
page for more information on expiring ITINs and how to renew an ITIN. Be Aware of Phishing Emails
Preparers need to be on the lookout for spear phishing emails that are targeting tax preparers. The goal of these phishing emails is to take over a preparer’s computer (or computer system) in order to obtain the tax and personal information of their clients. Spear phishing emails pose as familiar entities and are tailored to the individual preparer. These emails disguised as being from a trusted source seek to have the preparer voluntarily disclose sensitive information such as passwords. They may also encourage the preparer to open a link or attachment that actually downloads malware onto their computer. Once the malware is downloaded the cybercriminal now has access to the preparer’s computer and (all information contained on it) without them even knowing about it. See the following on the IRS website for more information on what to look out for and examples of phishing emails:
