Penalties for Not Filing a Tax Return

Penalties for Not Filing a Tax Return A surprising number of people fail to file an income tax return. If you are one of those people and you think the IRS won’t notice, you need to reconsider your position. If…

Check Your Withholding and Estimated Tax Payments!

Check your Withholding and Estimated Tax Payments! The U.S. tax system operates on a pay-as-you-go basis. This means that taxpayers need to pay most of their tax during the year, as the income is earned or received. Taxpayers must generally…

Kiddie Tax Changes in TCJA

Kiddie Tax No Longer Based on Parents’ Tax Rate   Prior to the 2017 Tax Cuts and Jobs Act (TCJA), the first $1,050 of a child’s investment income (unearned income) such as interest, dividends and capital gains was tax-free. The…

JWHTAX Tax Preparation by John White

The Taxpayer’s Bill of Rights

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. The Right to Be Informed Taxpayers have the right to know what they need to do to comply with the…