New tax withholding tables are issued
The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.
Individuals
What the tax reform bill means for individuals
The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.
Congress passes tax reform
The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.
Senate passes tax reform bill; House must revote
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.
IRS issues 2018 standard mileage rates
The IRS issued the standard mileage rates for business, medical and moving expenses incurred in 2018.
A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely!
In anticipation of the possible elimination or reduction of the state and local income tax deduction, some are suggesting that taxpayers should prepay their 2018 state taxes in 2017. Here’s why that probably won’t work.
Social Security Administration announces small increase in 2018 wage base
The SSA said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
What the House tax bill holds for individuals
From new tax rates to fewer deductions, credits, and exclusions, the tax reform bill released by the House would have wide-ranging effects on the taxation of individuals.
IRS will enforce health coverage reporting on 2017 returns
This filing season will be the first time the IRS has enforced this requirement and will not accept tax returns that omit this information.
IRS updates special per-diem rates for business travel
The IRS issued its annual updates of per-diem rates for use in substantiating expenses when traveling away from home on or after Oct. 1.
Final regs. address premium tax credit issues
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
Revised Senate health bill would retain taxes on higher-income individuals
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
Tax provisions in the Senate health care bill
The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.
IRS takes down student financial aid data retrieval tool
The IRS announced that has taken down its tool for retrieving tax return data used to complete the Free Application for Federal Student Aid.
Proposed PPACA replacement bills contain many tax changes
The draft proposals to repeal the Affordable Care Act released by House Republicans evening would make many tax changes if enacted. Here’s a look at their impact on the tax code.
Some individuals mistakenly received the advance premium tax credit
Health care exchanges failed to properly verify the identity and eligibility of all individuals who received the advance premium tax credit, the Treasury Inspector General for Tax Administration reported.
Failure to report health coverage will not cause tax return rejection
The IRS issued guidance on how it will treat individual income tax returns that do not indicate whether the taxpayers had health insurance coverage.
IRS Proposes Changes to Rules for Dependents
The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.
Inflation Adjustments for 2017 Issued for Employer-Provided Vehicles
The IRS released its annual notice containing the 2017 inflation-adjusted amounts for the maximum vehicle values to determine the amount that is included in employees’ income for personal use of an employer-provided vehicle.
Law Allows Combat-Injured Veterans to Recover Improperly Withheld Taxes
Veterans with combat-related injuries will get relief from improperly withheld taxes under legislation signed into law by President Barack Obama.
