The Tax Cuts and Jobs Act passed in 2017 will have significant ramifications on all manners of tax filings going forward. However, one of the more substantial changes to tax laws relates to the 2009 Affordable Care Act. Of most importance to what changes happen under the Affordable Care Act is when the changes […]
In June 2018, the Supreme Court ruled that states can require e-commerce companies to collect and pay sales tax, even for areas where they don’t have a physical presence. Here’s the good news — analysts speculate that the change will not alter shopping habits. Online shopping is so convenient that […]
If you’ve got delinquent tax debt, goods news is on the horizon. The credit bureaus are removing tax liens from credit reports (CRs). That instantly improves your credit report, potentially boosting your score and making it easier to obtain credit. Here’s a look at the details.
What Are the Credit Bureaus Removing?
Taxpayers with foreign bank accounts are required to disclose these accounts under the Foreign Account Tax Compliance Act (FATCA) and on the Report of Foreign Bank and Financial Accounts (FBAR). Do you have an overseas bank account you haven’t disclosed it to the IRS? If so, you are […]
The Tax Cuts and Jobs Act (TCJA) has made sweeping changes to the United States tax laws. You have probably heard about some of the major changes that take effect beginning in 2018—a big cut to the corporate tax rate, lower marginal rates across the board, and a larger standard deduction. But […]