
NEW W4 – WHAT’S CHANGING? EVERYTHING!!!
NEW W4 – WHAT’S CHANGING? EVERYTHING!!! NEW DRAFT OF W4 EXPECTED TO BE RELEASED FOR COMMENT BY MAY 31, 2019 FINAL VERSION TO BE RELEASED
NEW W4 – WHAT’S CHANGING? EVERYTHING!!! NEW DRAFT OF W4 EXPECTED TO BE RELEASED FOR COMMENT BY MAY 31, 2019 FINAL VERSION TO BE RELEASED
CHANGES TO TAX LAW Tax rates lowered. Starting in 2018, there are seven income tax brackets, ranging from 10 percent to 37 percent. Standard deduction
IRS REFUNDS: REFUNDS ARE BEING PROCESSED WITHIN A 2 WEEK PERIOD IF ELECTRONICALLY FILED SOME REFUNDS WILL NOT BE ISSUED UNTIL FEBRUARY 27, 2019 IF
The U.N. report faulted the Trump administration for pursuing policies it said would exacerbate U.S. poverty. In May, U.N. special rapporteur on extreme poverty and human rights
STATES RESPONSE State legislatures have reacted to the new $10,000 limit on the federal deduction for state and local taxes (SALT) with workaround legislation States
WHAT’S IMPACTED Half of the proposed cuts would come from two accounts within the Children’s Health Insurance Program (CHIP) CHIP is governmental funding to help
EXAMPLE: MATH: $5,000 TAX REFUND 2017 AND PRIOR UNDER OLD LAW $1,040 EXTRA ON 2018 PAYROLL CHECK UNDER NEW GOP TAX PLAN $3,960 LOSE UNDER
Unscrupulous Tax Preparer looking to make a fast buck from honest people Fraudulent Preparer will put fake business on returns at a loss to yield
TAX DAY DATE TYPE OF TAX RETURN March 15, 2018 Partnership 1065 S Corporation 1120S April 17, 2018 (normally 4.15) Personal Federal 1040, States
On February 9, 2018 President Trump signed the Bipartisan Budget Act; Tax Extenders Included Tax Returns including tax extenders were delayed; IRS and TAX Software
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