By: Sharon Kreider

2018 Tax Postcard

2018 Tax Postcard

The IRS is about to officially release a draft of a postcard Form 1040. The smaller size is meant to convey that taxes are simpler after the enactment of the Tax Cut and Jobs Act.

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By: Sharon Kreider

eTax Alert: Employment Tax

eTax Alert: Employment Tax

In a recent decision, the Tax Court provided relief to an employer who misclassified workers as independent contractors. If your client is facing a big employment tax bill, this case may provide help in minimizing the taxes due.

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By: Vern Hoven

How Long Are Corporate Extensions?

How Long Are Corporate Extensions?

The IRS has reassured the public that it knows what it is talking about in the 2016 instructions for Form 7004. Apparently, the IRS has been getting inquiries from preparers who are wondering if the instructions for Form 7004 are correct. The instructions indicate that the automatic extension period for corporations is six months, while §6081(b) states that the extension period for corporations is five months. The IRS explained that they were relying upon §6081(a) for the authority to grant six-month extensions, rather than the five-month extension period specified in §6081(b).

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