Tax news, personal finance, and more!
The 2018 tax season left as soon as it arrived. The IRS announced the dates that you need to remember.
Here are some important tax dates and how to get started with your 2017 tax return.
President Trump said that he wanted the new tax plan on his desk by Christmas. Nonetheless, the Tax Cuts and Jobs Act went through the Senate, House and flew by Congress. Ultimately, the Tax Cuts and Jobs Act tax plan has a goal to reduce the tax rates for individuals and businesses, which will ultimately affect how much you end up receiving your refund and paying in your tax liability. Most changes will expire in 2025 whereas some will remain permanent.
With the media raving about how taxpayers’ pockets will be affected, here are the changes that the new tax plan will lead to starting January 1st, 2019.
Continue reading “Tax Cuts and Jobs Act and How the Tax Plan May Affect You”
There are few calamities that compare to the damage and loss of a natural disaster. Hurricane Harvey forced thousands of residents from Texas out of their homes and left stranded without power and clean drinking water. Similarly, residents of Florida had to evacuate coastal areas due to flood zones. These events can leave families in a wreck, taking years to recover from. As horrific as these events can be, the IRS provides tax relief for taxpayers living in disaster areas.
Read on to learn more about how the IRS handles tax reliefs and find out if you qualify.
According to the IRS, a natural disaster is a nature-related event. Usually, these events are hurricanes, floods, earthquakes, and tsunamis. However, there are more. Nonetheless, it was surprising to find mine cave-ins and sonic booms on the list!
Continue reading “Tax Relief for Victims of Natural Disasters”
