Tax Preparedness Series: Special Tax Breaks for U. S. Armed Forces

WASHINGTON – As tax filing season approaches, the Internal Revenue Service wants members of the military and their families to know about the special tax benefits available to them.

IRS Publication 3, Armed Forces Tax Guide, is a free booklet packed with valuable information and tips designed to help service members and their families . . . → Read More: Tax Preparedness Series: Special Tax Breaks for U. S. Armed Forces

IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. The IRS today issued technical guidance detailing these items in Notice 2016-62.

Highlights of changes for 2017

The income ranges for determining eligibility to make deductible contributions to . . . → Read More: IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017

New Law Sets Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15

A new federal law moves up the W-2 filing deadline for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming the Earned Income Tax Credit or the Additional Child Tax Credit won’t . . . → Read More: New Law Sets Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15

IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew; Parts of Four States Eligible; Extension Filers Have Until March 15 to File

Oct. 17, 2016

WASHINGTON –– Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. This includes an additional filing extension for those with . . . → Read More: IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew; Parts of Four States Eligible; Extension Filers Have Until March 15 to File

IRS Grants Tax Relief Extension to Drought-Stricken Farmers, Ranchers; 37 States and Puerto Rico Affected

If you are a farmer or rancher forced to sell your livestock because of the drought that affects much of the nation, special IRS tax relief may help you. The IRS has extended the time to replace livestock that their owners were forced to sell due to drought. If you’re eligible, this may help . . . → Read More: IRS Grants Tax Relief Extension to Drought-Stricken Farmers, Ranchers; 37 States and Puerto Rico Affected

IRS Gives Tax Relief to Victims of Hurricane Matthew; Many Extension Filers in North Carolina Now Affected; Relief for Other States Expected Soon

WASHINGTON –– North Carolina storm victims will have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, with similar relief expected soon for Hurricane Matthew victims in other states, the Internal Revenue Service announced today. All workers assisting the relief activities who are affiliated with a . . . → Read More: IRS Gives Tax Relief to Victims of Hurricane Matthew; Many Extension Filers in North Carolina Now Affected; Relief for Other States Expected Soon

IRS Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017

WASHINGTON — The Internal Revenue Service reminds taxpayers affected by recent changes involving the Individual Taxpayer Identification Number (ITIN) program that they can now begin submitting their ITIN renewal applications to the IRS.

Under the Protecting Americans from Tax Hikes (PATH) Act of 2015 passed by Congress and signed into law last year, any . . . → Read More: IRS Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017

Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 37 States and Puerto Rico Affected

WASHINGTON — Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the Internal Revenue Service announced today.

Farmers and . . . → Read More: Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 37 States and Puerto Rico Affected

IRS Advises Taxpayers to Prepare for Hurricanes, Floods and Other Natural Disasters

WASHINGTON — The Internal Revenue Service today offered advice to taxpayers who may be affected by storms or other natural disasters. The IRS also reminded taxpayers that the agency is here to help including offering a special toll-free number to taxpayers in federally-declared disaster areas, staffed with IRS specialists trained to handle disaster-related issues.

. . . → Read More: IRS Advises Taxpayers to Prepare for Hurricanes, Floods and Other Natural Disasters

NARCA - The National Creditors Bar Association (NARCA) is a Trade Association Dedicated to Serving Law Firms Engaged in the Practice of Creditors Rights Law

In November 1992 in New York City, 20 collection attorneys met to discuss how to develop retail collection business. They unanimously agreed that a new association should be formed to foster the idea.

At the time, nobody – including creditors – knew who the biggest law firm in each state was, or even who . . . → Read More: NARCA – The National Creditors Bar Association (NARCA) is a Trade Association Dedicated to Serving Law Firms Engaged in the Practice of Creditors Rights Law