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IRS Expands Underpayment and Underwithholding Relief
The Internal Revenue Service provided additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the…
Continue Reading$1.4 Billion in Refunds Waiting to be Claimed for Unfiled 2015 Tax Returns
Unclaimed income tax refunds totaling almost $1.4 billion may be waiting for an estimated 1.2 million taxpayers who did not file a 2015 Form 1040 federal income tax return, according to the Internal Revenue…
Continue ReadingWith New SALT Limit, IRS Explains Tax Treatment of State and Local Tax Refunds
The Internal Revenue Service clarified the tax treatment of state and local tax refunds arising from any year in which the new limit on the state and local tax (SALT) deduction is in effect. In Revenue…
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