Zinner & Co. Blog and Newsroom

National Taxpayer Advocate, Nina Olson, Set to Retire

Posted by Zinner & Co. Tax Team on Jun 26, 2019 7:34:39 AM

National Taxpayer Advocate (NAS) Nina Olson, who is scheduled to retire on July 31st, 2019, addressed Congress for the 37th and presumably last time in her role. Olson, who has held the role of NAS for 18 years, addressed Congress to review the 2019 tax season and the state of the IRS.

Read More

Topics: IRS, Tax Cuts and Jobs Act of 2017

Ask the Expert: Does my Company Qualify for a Tax Credit for Providing Family Medical Leave Act (FMLA) Leave?

Posted by Zinner & Co. Tax Team on Jun 20, 2019 6:42:00 AM

Under a new provision created by the Tax Cuts and Jobs Act (TCJA), for the tax years 2018 and 2019 you may qualify for a tax credit if you set up or amend a paid-family leave program. Under Section 45S of the Internal Revenue Code, employers that voluntarily offer qualifying employees up to 12 weeks of paid family and medical leave annually under a written policy, may claim the credit.

Read More

Topics: Taxes - Corporate & Business, Tax Cuts and Jobs Act of 2017, FMLA

Lessons from this Tax Season

Posted by Zinner & Co. Tax Team on Apr 30, 2019 7:22:52 AM

Well…it’s over.  This year’s individual tax return filing deadline has come and gone.  As the dust settles and we take stock of this year’s tax season, a few trends have appeared.

Read More

Topics: deductions, taxes, income tax, IRS, Tax Cuts and Jobs Act of 2017

IRS Offers Relief for Underpayment and Under-Withholding Penalties for More Taxpayers

Posted by Zinner & Co. Tax Team on Apr 1, 2019 6:43:45 AM

On Friday, March 22, 2019, the Treasury and IRS announced they have lowered the withholding underpayment penalty threshold to 80%. This means that taxpayers who were 80% or less under-withheld on their income tax withholding or quarterly tax payments may qualify for relief.

Read More

Topics: tax services, taxes, income tax, IRS, Tax Cuts and Jobs Act of 2017

Ask the Expert: Are 2018 Income Taxes Easier to Prepare Under the Tax Cuts and Jobs Act?

Posted by Richard Huszai, CPA on Mar 7, 2019 7:22:00 AM

Are 2018 Income Taxes Easier to Prepare Under the Tax Cuts and Jobs Act?

Like any good consultant, my answer is: It depends.

Read More

Topics: income tax, Ask the Expert, Tax Cuts and Jobs Act of 2017

6 Important Things to Know About Divorce and Taxes

Posted by Zinner & Co. Tax Department on Feb 21, 2019 6:00:00 AM

The sad reality is more than 50% of marriages end in divorce. The median duration of a marriage in the United States is 11 years. Divorce is a reality and there are some important things you need to know from a financial and tax perspective.

Read More

Topics: divorce, Taxes - Individual, Tax Cuts and Jobs Act of 2017

IRS Issues Safe Harbor for First Year Depreciation of Passenger Cars

Posted by Zinner & Co. Tax Team on Feb 18, 2019 8:16:19 AM

The Treasury Department and the IRS have issued guidance that provides a safe harbor for calculating depreciation deductions from passenger vehicles that qualify for the 100% additional first year depreciation deduction.

Read More

Topics: Taxes - Corporate & Business, income tax, Tax Cuts and Jobs Act of 2017

IRS Establishes Safe Harbor for Real Estate Rental Businesses

Posted by Zinner & Co. Tax Team on Feb 11, 2019 7:40:17 AM

The IRS recently provided guidance to real estate investors regarding the Qualified Business Income (QBI) deduction under the Tax Cuts and Jobs Act (TCJA.) One of the weaknesses of the QBI provision of the TCJA was a lack of clarity in section 199A, which allows some taxpayers with pass-through businesses (e.g. LLCs and S-Corps,) to deduct 20% of their qualifying income.

Read More

Topics: real estate, Tax Cuts and Jobs Act of 2017, Qualified Business Income

10 Steps to Take to Get Ready for Tax Season

Posted by Barbara Theofilos, CPA, MBA on Feb 4, 2019 9:41:00 AM

This year’s tax season is going to be different. The new tax laws that took effect for 2018 represent the biggest changes to the tax code in over 30 years. So if you haven’t thought about preparing your taxes for 2018, you’ll want to get a jump on it.

Read More

Topics: taxes, income tax, Tax Cuts and Jobs Act of 2017

IRS Announces it Will Waive Tax Penalties for Under-Withholding and Underpayment for Some

Posted by Zinner & Co. Tax Team on Jan 17, 2019 11:46:44 AM

The IRS announced this week in IRS Notice 2019-11 that it would not penalize taxpayers whose tax withholding and estimated tax payments fell short last year due to failing to change their withholding under the Tax Cuts and Jobs Act (TCJA).

Read More

Topics: withholding, tax, income tax, IRS, Tax Cuts and Jobs Act of 2017

CATEGORIES

Latest Posts

Learn why Zinner & Co. loves Cleveland

Subscribe to Our Blog