Category Archives: International Taxation

IRS Changed Rule for Taxable Year of Inclusion

By | May 17, 2019

The Tax Cuts and Jobs Act (TCJA) changed certain rules for accrual-method taxpayers. Previously, taxpayers who used the accrual-method generally needed to include income in the year in which all events had occurred that fixed the right to receive income and the amount could be determined with reasonable accuracy, the “all-events test”. TCJA revised Section… Read More »

IRS Accepting Applications for 2020 Grants for Low Income Taxpayer Clinics

By | May 17, 2019

IRS Accepting Applications for 2020 Grants for Low Income Taxpayer Clinics The IRS is accepting applications for Low Income Taxpayer Clinic (LITC) grants for calendar year 2020 until June 17. To apply, download the 2020 Publication 3319, LITC Grant Application Package and Guidelines and view the document, Information for Potential LITC Grantees. For questions about the LITC Program or the grant application… Read More »

Child Tax Credit 2019 in USA

By | May 16, 2019

Many people claim the child tax credit to help offset the cost of raising children. Tax reform legislation made changes to that credit for 2018 and later. Here are some important things for taxpayers to know. Credit amount. The new law increases the child tax credit from $1,000 to $2,000. Eligibility factors for the credit have not changed.… Read More »

Free Tax Preparation online for USA

By | May 16, 2019

Free Tax Preparation online for USA Here is the list of Free Tax Preparation online for USA Free Tax Preparation online by IRS You can file your FREE federal return with software provided by Internal Revenue Services. You can prepare and file your federal individual income tax return for free using tax-preparation-and-filing software. Let Free… Read More »

2018 Tax Rates & Brackets in USA

By | May 16, 2019

2018 Tax Rates and Brackets 2018 Tax Rates and Brackets Rate Single Married, Filing Separately Married, Filing Jointly Head of Household Taxable income over… 10% $0 $0 $0 $0 12% $9,525 $9,525 $19,050 $13,600 22% $38,700 $38,700 $77,400 $51,800 24% $82,500 $82,500 $165,000 $82,500 32% $157,500 $157,500 $315,000 $157,500 35% $200,000 $200,000 $400,000 $200,000 37%… Read More »

Large Corporate Compliance Program Announced by IRS

By | May 16, 2019

Announces Large Corporate Compliance Program WASHINGTON — The Internal Revenue Service on 15th May 2019 announced a key advancement in how it identifies its biggest and most complex large corporations. On May 15, the IRS’s Large Business and International Division (LB&I) began a new application of data analytics for determining the population of its largest… Read More »

2019 IRS Nationwide Tax Forums : Registration Link for tax professionals

By | May 16, 2019

2019 IRS Nationwide Tax Forums The IRS reminds tax professionals to sign up for this summer’s 2019 IRS Nationwide Tax Forums. Tax professionals attending can earn up to 19 continuing education credits. The forums are three-day events featuring presentations by tax experts from the IRS and association partners. Topics on important tax issues currently facing… Read More »