SPC News

The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. The IRS…

The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.”  This is even more important following the recent changes to the tax law for 2018 and beyond. The Calculator will…

Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard’s “How America Saves 2019” report, published this month, the average American worker aged…

IR-2018-193, Sept. 27, 2018 WASHINGTON — The Internal Revenue Service is reminding taxpayers to beware of criminals who continue using devious tactics to steal money and personal information from unsuspecting victims, especially as the fall…

By Liz Farr, CPA September 5, 2017   Over the next few decades, the Gen X and Millennial generations will be the recipients of one of the greatest wealth transfers in history. A portion of…

In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes? Here are ten facts to keep in mind if you…

Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another…

The theft of your identity, especially personal information such as your name, Social Security number, address and children’s names, can be traumatic and frustrating. In this online era, it’s important to always be on guard….

Client Tax Letter 2016 1st Quarter This CPA Client Tax Letter is provided by McDonald Carlson CPAs to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Tax Letter…

The premium tax credit is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet…

 “Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.” In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts…

The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you…