IRS Statement on Form W-4
Sep21

IRS Statement on Form W-4

Following feedback from the payroll and tax communities, the Treasury Department and the IRS will incorporate important changes into a new version of the Form W-4, Employee’s Withholding Allowance Certificate, for 2020.  The 2019 version of the Form W-4 will be like the current 2018 version. A new draft version of the W-4 for 2019 will be available in the coming weeks.   The IRS will continue working closely with the payroll and...

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Beware of Tax Scams Related to Natural Disasters.
Sep19

Beware of Tax Scams Related to Natural Disasters.

In the wake of Hurricane Florence, the Internal Revenue Service is reminding taxpayers that criminals and scammers try to take advantage of the generosity of taxpayers who want to help victims of major disasters.   Fraudulent schemes normally start with unsolicited contact by telephone, social media, e-mail or in-person using a variety of tactics.   Some impersonate charities to get money or private information from...

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IRS Issues Proposed Regulations on Global Intangible Low-Taxed Income for U.S. Shareholders.
Sep16

IRS Issues Proposed Regulations on Global Intangible Low-Taxed Income for U.S. Shareholders.

The Internal Revenue Service issued proposed regulations today concerning global intangible low-taxed income under section 951A and related sections of the Internal Revenue Code.   The Tax Cuts and Jobs Act (TCJA), passed in December 2017, made major changes to the tax law, including adding new rules requiring the inclusion of global intangible low-taxed income generated by controlled foreign corporations (CFCs).   Under the...

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Be Prepare for Natural Disasters.
Sep13

Be Prepare for Natural Disasters.

Because a natural disaster can strike any time, Account On Us is reminding individuals and businesses to take time now and create or update their emergency preparedness plan.   During 2018, the IRS has offered tax relief and assistance to millions of victims of natural disasters, including hurricanes, severe storms, flooding, tornados, wildfires, high winds, tropical storms, an earthquake and a volcano.   Individuals,...

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Retirees: Avoid a Surprise Tax Bill; Get Enough Tax Taken Out of Pension Payments.
Sep12

Retirees: Avoid a Surprise Tax Bill; Get Enough Tax Taken Out of Pension Payments.

With tax reform bringing major changes for the year ahead, the Internal Revenue Service today urged retirees to make sure they are paying in enough tax during the year by using the Withholding Calculator, available on IRS.gov.   This is the second in a series of four news releases aimed at helping taxpayers pay the right amount of tax and avoid an estimated tax penalty. During this series, the IRS is highlighting resources and...

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Account On Us Urges Taxpayers to Prepare for Hurricanes, Floods and Other Disasters.
Sep09

Account On Us Urges Taxpayers to Prepare for Hurricanes, Floods and Other Disasters.

For September’s National Preparedness Month, Account On Us is offering advice to taxpayers who may be affected by storms, fires, floods or other disasters.   Managed and sponsored by the Federal Emergency Management Agency (FEMA) and the Ready Campaign, National Preparedness Month encourages individuals, businesses and organizations to prepare for a variety of disaster and emergency situations.   Create Electronic Copies of...

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