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IRS Waives Penalty for Many Whose 2018 Withholding and Estimated Payments Fell Short

The Internal Revenue Service announced that it is waiving the estimated tax penalty for some taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax…

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IRS Issues Guidance on Qualified Business Income Deduction, Safe Harbor for Rental Real Estate Owners

The Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction)…

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8 Tax Deductions You Can Still Claim on Your 2018 Taxes

With the passage of the Tax Cuts and Jobs Act of 2017, a number of popular tax deductions were either eliminated or limited. While many popular deductions went away, the standard deduction nearly doubled…

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