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If You Owe the IRS a Lot of Money, You May Not Want to Plan Any Out-of-the-Country Trips

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Article Highlights:   Seriously Delinquent Tax Debt Exceptions Passport Denial or Revocation As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires…
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Personal Casualty Losses Axed by the New Tax Law

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Article Highlights: Casualty Losses Deduction Suspension Disaster Related Casualty Losses Insurance Coverage Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs…
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Tax Reform Cracks Down on IRA Recharacterizations

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Article Highlights: Tax Trap Traditional IRA Roth IRA Traditional to Roth Conversions Undoing a Conversion Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts &…
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Yes or No? Simple answers to your tax questions

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Article by Danielle Wiener-Bronner | Found on CNN The changes to the new tax law are complex, and difficult even for experts to unpack. But some of the plan's provisions are straightforward enough for simple "yes" or "no" answers. 1. Does…
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Changes to the Child Tax Credit: What it Means for Families

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Article by Lydia DePillis | Found on CNN.com Parents will get twice as large of a tax credit for each child next year, under a compromise hammered out by the House and Senate Friday — although other changes to the bill mitigate the impact…
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IRS Plans Further Steps to Curb Identity Theft

Articel by Michael Kohn | Found on AccountingToday The Internal Revenue Service, working in partnership with state tax authorities and the tax preparation industry as part of their Security Summit initiative, reported significant progress…
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IRS adds more features to taxpayer online accounts

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Article Found on AccountingToday.com | Written by Michael Kohn The Internal Revenue Service has supplemented its online tax account tool with some new self-service features for taxpayers and their preparers. The IRS debuted the tool…
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Cristiano Ronaldo Accused of $16.5M Tax Evasion

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Article by Tariq Panja | Found on AccountingToday.com Soccer superstar Cristiano Ronaldo has been accused of failing to pay 14.7 million euros ($16.5 million) in taxes. The prosecutor’s office in Madrid filed a lawsuit that alleges…
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IRS May Have to Refund $300 Million After Federal Judge Rules PTIN Fee is Illegal

Article by Joseph Henchman | Found on TaxFoundation.org A federal judge ruled on June 1 that the Internal Revenue Service (IRS) exceeded its authority in collecting fees for issuing Preparer Tax Identification Numbers (PTIN). The IRS requires…
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Nexpanding: The Ever-Evolving Shape of Nexus Rules

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Article by Roger Russell | Found on Accounting Today Nexus — the minimum amount of contact between a taxpayer and a state that allows the state to tax the business on its activities — is under attack by the states as they seek to broaden…