In 2016, many individuals will be receiving new information returns from their employers and/or health insurance providers. The information returns reflect new reporting requirements put in place by the Affordable Care Act.
Going into the 2016 filing season, the IRS has additional monetary resources to improve customer service and cybersecurity along with curbing identity theft. The fiscal year (FY) 2016 omnibus spending bill approved by Congress and signed into law by President Obama in December, allocates $290 million above FY 2015 funding to the IRS with instructions of where to spend the funds: customer service, tax-related identity theft and refund fraud, and cybersecurity.
CEO’s do it; athletes do it; in fact, anyone who needs to be able to achieve a certain level of performance in order to achieve a specific goal constantly assesses where they are in relation to where they want to be. For any long-term investment strategy to have the best opportunity for success, it must be based on a thorough assessment of your needs, priorities, investment preferences and your tolerance for risk and portfolio volatility.
The state of Illinois is no longer sending out the vehicle sticker reminder letters (see the link below for state website). However, you can sign up to receive electronic reminders via...
If you own or manage your own business, you’re probably busy monitoring operations and dealing with everyday problems. But there are a few things that you should make time to do every year. These are important for your long term business and personal success.
On December 18, President Obama signed into law the bipartisan Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). We have experienced numerous, last-minute extender packages in the past, but this one is significant. While tax reform is still on the horizon, the PATH Act is a definite win for taxpayers, providing a solid planning ground from which to start. Below is an overview of some of the major provisions.
Although 2015 is quickly coming to a close, there is still time, with careful planning, to execute some last minute tax strategies. In many cases, these strategies can help minimize the tax burden.
As October 19-25 is National Estate Planning Awareness Week, it's a good time to ensure your estate plan is current and comprehensive. Although it is often overlooked, including a digital...
This article discusses the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. The Act revises some important return due dates, overrules a Supreme Court tax decision, revises the employer shared responsibility requirements in the Affordable Care Act (ACA), and includes other tax compliance measures.