Aug 19, 2019 | Individuals
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can come after either spouse to collect the entire tax — not just the part that’s attributed to...
Jul 16, 2018 | Small Business
For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. But it’s crucial not only to withhold the appropriate taxes — including...
Aug 17, 2017 | Individuals
Now that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it’s a good time for a refresher on the tax penalty the ACA imposes on individuals who fail to have “minimum essential” health insurance coverage...
Apr 13, 2017 | Individuals
Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it’s postmarked by midnight. But dropping your return or...
Sep 15, 2016 | Individuals, Small Business
Paying the proper amount of tax by the annual federal income tax filing deadline isn’t always enough to avoid penalties and interest; you must also meet requirements for paying tax throughout the year through withholding and/or quarterly estimated tax payments. If you...