Tag: return
-
TCJA Temporarily Lowers Medical Expense Deduction Threshold
With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that may be hard to meet. Fortunately, the Tax Cuts and Jobs Act (TCJA) has temporarily reduced the threshold. What expenses are eligible? Medical expenses may…
-
Tax Season Delayed (Again)
The IRS will begin accepting 2017 tax returns on January 29. If this seems later than usual, blame the December passage of the Tax Cuts and Jobs Act. Like many Americans, the IRS needs time to assess the ramifications of the new law. This isn’t the first time the federal tax season has been delayed. Thanks…
-
Don’t Be a Victim of Tax Identity Theft: File Your 2017 Return Early
The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the hassle of filing your…