Tax Season Opens January 19th

Yes, it’s that time of year again. The IRS announced last week that the 2016 tax season will begin as scheduled on Tuesday, January 19. They’ll begin accepting both individual electronic returns and paper returns that day. The IRS expects to receive more than 150...

No More Writing Checks over $100 million to the IRS

Hopefully you don’t owe the IRS $100 million or more, but those who do will need to plan on paying with something other than a check after December 31st. Internal Revenue Bulletin No. 2015–36, dated September 7, 2015, states: “The Federal Reserve will not accept...

IRS Interest Rates to Stay the Same for 4th Quarter

The IRS announced that interest rates on overpayments and underpayments will stay the same for Fourth Quarter 2015. Here are the details: 3% for overpayments (2% percent in the case of a corporation) 0.5% percent for the portion of a corporate overpayment exceeding...