Feb
11
2019
11
2019
Warning: Scammers Targeting Local Businesses – Tucson Electric Power http://bit.ly/2SIAcvI
Feb
11
2019
11
2019
Feb
04
2019
04
2019
Form 1099-G Available Online For Taxpayers
Form 1099-G Available Online For Taxpayers
Taxpayers receiving Form 1099-G, which serves as a confirmation of the previous year’s state tax refund, can now go online to access and print the form.
Taxpayers can download and print their Form 1099-G by going to www.AZTaxes.gov, clicking on the “View My 1099-G” link and providing the necessary information.
Accessing Form 1099-G online is effective for a number of reasons:
- Keeps sensitive information from being mailed to an old address.
Feb
01
2019
01
2019
Jan
28
2019
28
2019
Jan
25
2019
25
2019
Jan
24
2019
24
2019
Need a transcript from the IRS?
Do you need a transcript from the IRS? Currently, the IRS is processing transcripts through its Income Verification Express Service (IVES) program. IVES is primarily used by the financial community, including mortgage lenders, to confirm income from borrowers. “Federal law limits what the IRS can do on behalf of taxpayers during a funding lapse,” the IRS said. But IVES “can assist taxpayers trying to obtain mortgages or taxpayers affected by disaster who need copies of their tax returns as part of the recovery effort.” For details: https://bit.ly/2Df6Vjz
Jan
23
2019
23
2019
Sec. 199A Qualified Business Income Deduction
The IRS has issued final regulations on the Sec. 199A qualified business income (QBI) deduction. The new deduction allows pass-through businesses, including sole proprietorships, to deduct up to 20% of their QBI. Eligible taxpayers can also deduct up to 20% of their qualified real estate investment trust (REIT) dividends and publicly traded partnership income. The deduction is available beginning in tax years starting after 12/31/17 and before 1/1/26. See the regs here: https://bit.ly/2RWdJLk.
Oct
17
2018
17
2018
You might save tax if your vacation home qualifies as a rental property
If you own a vacation home and both rent it out and use it personally, classification as a rental property might save tax. Expenses attributable to a rental property aren’t subject to the TCJA’s tightened limits on itemized deductions for property tax and mortgage interest, and losses may be deductible. A rental property generally is one you use for 14 days or less, or under 10% of the days you rent it out,
May
24
2018
24
2018
Interests in Foreign Accounts
U.S. citizens with interests in foreign accounts must generally file a Report of Foreign Bank and Financial Accounts (FBAR), or face penalties. One taxpayer failed to file an FBAR or to pay the IRS-imposed penalty of $1.2 million. The IRS filed suit. Both a U.S. District Court and the U.S. 9th Circuit Court of Appeals rejected her claims that the penalty violated the 8th Amendment of the Constitution (Excessive Fines Clause) and violated treaty provisions.
