Do you have a 10% or more interest in a foreign corporation? If so, then you may have a repatriation tax issue on your 2017 (not 2018!) tax return. Although the new tax legislation signed into law by President Trump on December 22, 2017, [...]
On December 22, President Trump signed into law the most sweeping changes to the tax code in over 30 years. No one is left untouched. Individuals, corporations, sole proprietors, partnerships, S corporations, and multinational businesses are all affected. As the individual income tax debate [...]
December 22, 2017 As you may know, today the President signed into law the most sweeping tax legislation in a generation. Among the changes, starting in 2018, the new legislation limits the amount of state and local taxes that individuals may deduct each year [...]
Equifax, one of the leading consumer credit reporting companies, recently revealed that it fell victim to a cyber attack earlier in the year. Early reports indicate the data breach compromised over 140 million individuals’ confidential information. This was a big one. Stealing confidential information [...]
With the 2015 tax season underway, The Wolf Group would like to remind our clients and colleagues about the rampant phone scams from callers claiming to be from the IRS. These scammers employ sophisticated techniques to threaten taxpayers that they will be arrested by [...]
As 2015 draws to a close, there is still time to reduce your 2015 tax bill and plan ahead for 2016. This article highlights several potential tax-saving opportunities for you to consider. Gift Giving Annual Gift Tax Exclusion: The most commonly used method for tax-free giving is the [...]
Estimated Tax Payments U.S. taxpayers are required to prepay their U.S. income and employment taxes (collectively, “tax”) during the course of the year. To the extent taxes withheld from your income are not sufficient for this purpose, estimated tax payments must be made. Accordingly, if your income [...]
Anxiety. Dread. Annoyance. Irritation. Chances are that if you have ever received a notice from the IRS, your immediate reaction was one of these emotions—followed closely by questions like: Why me? If the IRS only audits a small percentage of returns, why am [...]
We have become aware of a number of phishing scams where the caller or the email sender claims to be from the IRS. These scammers employ various techniques to threaten taxpayers that they are arrested by the IRS, proceed to request them to pay [...]
