Tax

The Treasury recorded a $215 billion shortfall in February—its largest in six years—as revenue declined after passage of the Tax Cuts and Jobs Act.

At some point in my practice I had to ask a staff person if he would want to specialize in taxes. The first time occurred over 35 years ago when my main tax reviewer left for a position with another firm where he would be “more important than just a tax reviewer.”

Smartphone, iPad and Android tablet users can file their taxes on any combination of devices.

Congressional Republicans created a juicy new break for business owners when they rewrote the U.S. tax code late last year. Three months later, hundreds of thousands of U.S. employers still don’t know if they can claim it.

Procrastinating clients may have money waiting: Some $1.1 billion in unclaimed federal income tax refunds await an estimated 1.4 million taxpayers who didn’t file a 2014 federal income tax return.

The Speaker of the House visited Atlanta to tout the economic benefits of the new tax law, but the president had other ideas.

Bogus W-2s; dependents, complete with numbers; underreporting supplemental money; and other highlights of recent tax cases.

The National Society of Accountants wants the Internal Revenue Service to provide a six-month extension for businesses to opt to be treated as S corporations for this year, arguing the current deadline of March 15 is too soon to make a decision given the uncertainty surrounding the new tax law.

When 2018 taxes are due in April 2019, millions of Americans could find themselves owing the government far more than was withheld. Millions of others could find they paid too much in 2018, resulting in unusually large refunds.

How do you measure the success of your tax season?