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IRA Distribution

  • November 13th, 2018

2018 – 11/06 An IRS private letter ruling forecasts a good tax outcome for a widow. The taxpayer, as the decedent’s spouse, would be treated as having acquired the IRA in question directly from the decedent, not from the trust that was the IRA’s primary beneficiary, the IRS stated. And she was eligible to roll…

Smooth processing of 2018 tax return

  • November 13th, 2018

2018 – 11/08 The IRS has launched a campaign to advise taxpayers about what preparations they can make to ensure the smooth processing of their 2018 tax returns. As part of the campaign, the tax agency issued Publication 5307, “Tax Reform Basics for Individuals and Families.” It focuses on several topics, including the gathering of…

Some tax ID numbers expire soon

  • November 13th, 2018

2018 – 11/18 Some tax ID numbers expire soon. The IRS issues Individual Taxpayer Identification Numbers (ITINs) to those required to file or report information to the IRS, but who don’t qualify for Social Security numbers. Some who use an ITIN must reapply before the end of 2018 because their number will expire and will…

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