November 2019 Update - Act Now to Save 2019 Taxes on Your Investments & Living the Dream of Early Retirement Act Now to Save 2019 Taxes on Your Investments Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to reduce your 2019 tax bill by selling...
Alimony and Taxes Call Us First at First Call Tax Advocates Corp 718-400-9250#taxproblems #smallbusiness #taxadvisor #taxadvice #taxhelp #taxlien#taxprofessional #taxresolution #taxsolutions #iowetaxes #taxrelief#taxproblemsolver #irsgarnishment #taxdisputes #taxdisputesresolution #taxsolutions #...
Are you divorced or in the process of divorcing? If so, it’s critical to understand how the Tax Cuts and Jobs Act (TCJA) has changed the tax treatment of alimony. Unfortunately, for many couples, the news isn’t good — the tax cost of divorce has risen.What’s changed?Under previous rules, a taxpay...
Owners of most heavy highway vehicles are being reminded by the IRS that the filing period for Form 2290, Heavy Highway Vehicle Use Tax Return, opened on July 1. The returns are due no later than Sept 3, 2019. The highway use tax applies to highway motor vehicles with a taxable gross weight of 5...
The Internal Revenue Service says it will automatically waive the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. The IRS will apply this waiver to tax accounts of all eligible taxpayers, so t...
US News and World Reports have a great article on credt fraud vs identity theft. Further, these might also have IRS ramafications as well.   Call us First at First Call Tax Advocates 718-400-9250
Not all retirement plans are the same. In a Tax Court Case This week  Lily Hilda Soltani-Amadi and Bahman Justin Amadi v. Commissioner, T.C. Summary Opinion 2019-19 (Aug. 8, 2019) just some of the differences were made clear on an early withdrawal for the down payment of the purchase of a new hom...
The Internal Revenue Service is sending letters to 10,000 digital currency holders who potentially failed to pay taxes or importantly reported taxes on their assets last year.   In some cases, the IRS says taxpayers could be subject to criminal prosecution. These letters and what they imply shoul...
Internal Revenue Brings back Form 1099-NEC for the nonemployee compensationThe Path Act of 2015 has many things that are taxpayer friendly.  That said, the Congress and Internal Revenue have felt that employer misclassification of employees/contractors was an issue that needed a much closer look....

Jeffrey Rosenthal, CFP, EA, CDFA

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