As we come out of the COVID-19 societal lockdown and you have significant tax problems to resolve, don’t be duped into giving money to non-tax professional outfits who claim to be “Tax Relief Experts.” Most times they will take your
McFarlane Law Tax Blog
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I took an Early Withdrawal from my Retirement Account. Now what?
On a regular basis I get clients who have taken a distribution out of their qualified individual retirement account or retirement plan before reaching 59 ½ years of age (the time when you can take a distribution and be subject…
I took an Early Withdrawal from my Retirement Account. Now what?
On a regular basis I get clients who have taken a distribution out of their qualified individual retirement account or retirement plan before reaching 59 ½ years of age (the time when you can take a distribution and be subject…
Is your Business Subject to a Transaction Privilege (Sales) or Use Tax Audit?
States are increasingly looking to audits and enforcement to raise much needed revenue, and Arizona is especially aggressive. The State is employing newly acquired technology and new audit methodologies to find delinquent or noncompliant business taxpayers. Auditors and supervisors are…
Is your Business Subject to a Transaction Privilege (Sales) or Use Tax Audit?
States are increasingly looking to audits and enforcement to raise much needed revenue, and Arizona is especially aggressive. The State is employing newly acquired technology and new audit methodologies to find delinquent or noncompliant business taxpayers. Auditors and supervisors are…
The $10,000 Federal Tax Deduction Limit on Payments for State & Local Taxes
The Treasury Department and the IRS intend to propose regulations addressing the federal income tax treatment of certain payments made by taxpayers for which taxpayers receive a credit against their state and local taxes. The IRS does not like the…
The $10,000 Federal Tax Deduction Limit on Payments for State & Local Taxes
The Treasury Department and the IRS intend to propose regulations addressing the federal income tax treatment of certain payments made by taxpayers for which taxpayers receive a credit against their state and local taxes. The IRS does not like the…
Considerations for Taxpayers Who Need to Amend a Return
Taxpayers who discover they made a mistake on their tax returns after filing can file an amended tax return to correct it. This includes changing the filing status and dependents, or correcting income, credits or deductions. What you may not…
Considerations for Taxpayers Who Need to Amend a Return
Taxpayers who discover they made a mistake on their tax returns after filing can file an amended tax return to correct it. This includes changing the filing status and dependents, or correcting income, credits or deductions. What you may not…
Missed the 2017 tax return filing or payment deadline? Here is what you need to do
The 2017 federal income tax-filing deadline has passed for most people who did not extend the filing date for the 2017 tax return. So, the people who still haven’t filed a return or an extension to file, and those who…