Tax

The service will also be warning preparers about due diligence requirements.

Steve Bannon won’t abandon his war against congressional Republican incumbents, not even after President Donald Trump publicly pleaded for a truce that could salvage the tax overhaul at the heart of his legislative agenda.

Cutting the corporate tax rate to 20 percent, as President Donald Trump has proposed, would increase average household income by at least $4,000 a year, according to estimates in a White House study.

A retired tax practitioner takes issue with proposals to lower rates for pass-through business income.

President Donald Trump and Senate Majority Leader Mitch McConnell appeared to give themselves some breathing room on their goal of completing a tax overhaul before year’s end in remarks that emphasized the difficulty of passing major legislation.

Many accountants have just completed their “second” tax season finalizing the extended returns, and life must go on.

The Internal Revenue Service has needed to significantly cut back a program that automatically followed up with people who failed to file a tax return, due to budget constraints, according to a new report.

The Social Security Administration said it would provide a 2.0 percent cost of living adjustment in 2018, the biggest increase since 2012.

Senator Susan Collins says she’s leaning toward supporting a fiscal 2018 Senate budget resolution that’s key to the Republican effort to pass a major tax overhaul without the need for Democratic votes.

Opinions vary wildly as to who does and who doesn’t belong to this heavily courted demographic.