News Releases | Industry Updates
The Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction).
Partnerships and corporations have different standards for filing an information return or income tax return.
The IRS has announced that it is generally waiving the penalty for any taxpayer who paid at least 85 percent of their total tax liability during the year.
This year, we are continuing to utilize a program called SafeSend Returns to electronically deliver tax returns. SafeSend Returns allows us to deliver your tax return securely to you, and includes easy-to-follow instructions to digitally sign your e-file authorization forms, download a copy, and make payments (if necessary).
In the beginning of January, TDG heads to Sunriver, OR for a weekend to spend some fun bonding time together before Tax Season hits full swing.
The IRS has ceased vital taxpayer services, which include but are not limited to answering taxpayer questions and accepting non-disaster relief transcript requests. Moreover, the IRS has previously stated that it will not issue refunds in the midst of a government shutdown.
The amount of the proceeds from the sale of your home that you use to pay off the mortgage isn't a factor in figuring your taxable amount for the sale. Instead, the amount you realize on the sale of your home and the adjusted basis of your home are important in determining whether you're subject to tax on the sale.
Here is an overview of some of the important changes and issues from the Tax Cuts and Jobs Act, as well as some actions you may be able to take before year-end to maximize your tax savings for 2018.
The Doty Group is reminding business owners of the rules and regulations with respect to the issuance of 1099’s for the 2018 calendar year, as it is the responsibility of business owners to comply with these reporting requirements.
The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning April 1, 2019, out-of-state retailers selling above certain thresholds will be required to collect California use taxes on their sales into California. The recent U.S. Supreme Court decision in South Dakota v. Wayfair, Inc. expands the tax collection obligations of certain retailers under California law.
During the week of December 3 - 7, the IRS, State Tax agencies, and the Tax Industry observed “National Tax Security Awareness Week” which has been an initiative to provide resources to individuals and businesses in the interest of protecting their tax data and identities ahead of and through the 2019 tax season.
The National Association of Secretaries of State (NASS) Medallion will be awarded to two South Sound businesses today, Thursday, November 29th, 2018. South Sound Business magazine covered the release of the news yesterday.
IRS Tax Reform Tip 2018-182 discusses some of the changes that The Tax Cuts and Jobs Act brought to the child tax credit - a credit intended to help offset the cost of raising children.
Sandra Mills, Supervisor of Litigation and Valuation, has completed the Master of Business Administration program at Western Governors University.
The malware known as Emotet generally poses as specific banks and financial institutions in an effort to trick people into opening infected documents. It has recently been posing as “IRS Online” with a “Tax Accountant Transcript” attachment that is infected.
On November 13, Doty Group Shareholder and Director of Litigation & Valuation, Shelley Adams Drury, CPA, CVA, ABV, CFF led a Webinar hosted by the International Society of Business Appraisers.
Stephanie Walsh, has earned the Senior Professional in Human Resources (SPHR) credential from the HR Certification Institute (HRCI).
Catalin Clarke, CPA has joined The Doty Group as Senior Accountant.
Commonly referred to as the Tax Cuts and Jobs Act, TCJA, the tax reform law passed in 2017 nearly doubled standard deductions and changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions. The following is an overview from the IRS on some of the changes.