Access Your IRS Tax Information Online for Free

The IRS recently implemented an online function for taxpayers to access their tax information for free. The information within the new system is similar to the old method of calling in and requesting transcripts, but with immediate results. Taxpayers can review balances due to the IRS, see a history of activity including payments made, view […]

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IRS Issues New Regulations on 20% Business Deduction

The IRS issued highly anticipated proposed regulations on Wednesday, August 8th regarding the new 20-percent Section 199A deduction created by the 2017 Tax Cuts and Jobs Act. Also known as the pass-through or qualified business income deduction, the Section 199A deduction allows business owners to deduct up to 20-percent of qualified business income (QBI) from […]

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NC DOR Implements New Sales Tax Collection Policy

The North Carolina Department of Revenue recently issued a new directive regarding economic nexus and the collection of sales tax. The DOR’s directive stated that effective November 1, 2018, businesses making annual sales in excess of $100,000 or 200 transactions originating in the state of North Carolina will be required to collect sales tax regardless […]

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The New Tax Law Will Change Divorce Tactics

When couples divorce, financial negotiations often involve alimony. The tax rules regarding alimony were dramatically changed by the Tax Cuts and Jobs Act (TCJA) of 2017, but existing agreements have been grandfathered. In addition, the old rules remain in effect for divorce and separation agreements executed during 2018. Next year, the rules will change, and […]

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