Articles
IRS Response to State Run Charitable Funds & Tax Credits
New York and other states try creative accounting The cap on state and local tax deductions was one of the more controversial provisions of the tax reform. New York lawmakers have passed a proposal to let state residents skirt the new $10,000 federal cap. Under the proposal, New York taxpayers will be able to ma...
Will Tax Reform Reduce Charitable Contributions?
Although the tax reform bill did not make significant changes to charitable deductions, the near doubling of the standard deduction will mean fewer taxpayers choosing to itemize. The reason for this is simple. The allowed standard deduction will rise to $12,000 (up from $6,350) for individuals, and to $24,000 (up from $12,700) for marri...
The IRS Becomes More Web-Savvy - New Online Tools!
New Online Tools from the IRS Have you wondered what your balance to the IRS is? Want to check on your IRS payment history? Today the IRS released new features that will allow you to access these and other key datapoints about your tax account. 18 month payment hi...
Tax Reform: Impact on Pass-Through Businesses (S-Corp, LLC, Partnerships, and Sole Proprietorship)
One of the biggest changes in the tax reform affects owners of so-called pass-through businesses. Those are sole proprietorships, partnerships, limited liability companies (LLC) and S-corporations. What are pass-through entities? Pass-through entities do not pay tax at th...
TFX New Features 2018
We are busy year-round improving our system - hence making your life easier. Here are the changes we rolled out since the last tax year. New Tax Questionnaire We continue to improve our Tax Questionnaire. This year brings a wholesale redesign as well as many functional improvements. The clients who...
TFX Support Options 2018
At TFX customer service is not an afterthought - it’s the core of how we deliver service to clients. That is why we offer numerous ways to get help - whichever route works best for you. Website Chat On any page of taxesforexpats.com you will find a blue envelope icon - ...