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» Recent Tax Q&A
  Title, Username, & Date Forum
Go to first new post IRA inherited from spouse aged 53
2davidc8
IRA/Sep
Go to first new post Inherited Roth IRA RMD
2davidc8
IRA/Sep
For 2019 Tax Filings, "No more Obamacare healthcare penalties!"
Nov 21, 2019 - 3:26 PM - by TaxGuru
The Tax Cuts and Jobs Act did eliminate the individual mandate -- aka the "Obamacare penalty." This is the penalty you pay for not having health insurance. The penalty was only repealed in tax years 2019 and beyond.
What is an Individual Taxpayer Identification Number?
Nov 04, 2019 - 6:16 PM - by TaxGuru
What is an ITIN?
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration (SSA).

What is an ITIN used for?
IRS issues ITINs to help individuals comply with... [Read More]
What are the tax reliefs available under the new 2018 tax reform law?
Dec 20, 2018 - 5:00 PM - by TaxGuru
"Congress has passed the largest piece of tax reform legislation in more than three decades. The bill went into place on January 1, 2018, which means that it will affect the taxes of most taxpayers for the 2018 tax year."

Lower Tax Rates and Changed Income Ranges

The bill retains the seven tax brackets found in current law, but lowers a number of the tax rates. It also changes the income thresholds at which the rates apply.

The... [Read More]
IRS warns of Scams that targeting Taxpayers.
Feb 08, 2018 - 7:31 PM - by TaxGuru
IRS has identified the following "IRS Impersonated phone call scams targeting taxpayers" as follows;

1. A sophisticated phone scam targeting taxpayers, including recent immigrants, has been making the rounds throughout the country. Callers claim to be IRS employees, using fake names and bogus IRS identification badge numbers. They may know a lot about their targets, and they usually alter the caller ID to make it look like the IRS is calling.

2. Victims... [Read More]
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