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Tax Briefing(s)

Eliot Ullman is quoted in an article about the Earned Income Tax Credit that appeared on the Alert Investor web site on March 27, 2017.


Michael Eisenberg comments on uncertainty over the Affordable Care Act's health insurance coverage requirement and tax related penalty in the February 24, 2017 California Healthline syndicated column Ask Emily. 


Michael Eisenberg explains why it's important to keep your tax returns for a long time in this January 20, 2017 article by The Washington Post.


Consider the recreational or educational activities available when deciding where to retire advises Michael Eisenberg in this January 9, 2017 article in the Journal of Accountancy.


Michael Eisenberg offers advice on harvesting your losses in this December 20, 2016 article published by American Funds.


Michael Eisenberg offers insight on the current rise in the personal financial satisfaction level in this October 27, 2016 article from the Journal of Accountancy.


Why not use social media to garner envy over how you've accomplished a financial milestone rather than just posting photos of your latest vacation?  Michael Eisenberg suggests a different outlook on using social media in a September 1, 2016 article by the AICPA.


This article from the September 1, 2016 Los Angeles Times reveals how most high school and college students are woefully unprepared to handle financial tasks such as saving, budgeting, managing credit or investing.


While the Personal Financial Satisfaction Index (PFSi) is up, Michael Eisenberg is cautious of political instability in a July 28, 2016 article published in the Journal of Accountancy.


Michael Eisenberg and Innovative Wealth Advisors are quoted in this June 28, 2016 U.S. News & World Report article on how to baby step your way to savings.


Here's an overview of the economic issues surrounding the Brexit, and what this historic decision could mean for the United Kingdom, world trade, and international investors.


Michael Eisenberg and Miller Ward & Company are mentioned in this May 31, 2016 article which appeared on mainstreet.com.


While Personal Financial Satisfaction has dipped recently, Michael Eisenberg explains the importance of staying focused in a report issued April 27, 2016 by the AICPA.


Michael Eisenberg is quoted in this April 28, 2016 CNBC.com article about how earning an allowance can teach kids a lesson in financial responsibility.


Michael Eisenberg and Miller Ward & Company were mentioned in a USA TODAY article which appeared on February 19, 2016 about how to choose a tax preparer.


Michael Eisenberg is prominently quoted in this January 19, 2016 Los Angeles Times story on how the latest Powerball winner is proceeding with caution as to how to protect and make the best use of his financial windfall.


In early 2016 President Obama signed a stopgap highway bill that included changes to the income tax laws.


President Trump on April 26th, just before his “100 days” in office, unveiled his highly-anticipated tax reform outline –the “2017 Tax Reform for Economic Growth and American Jobs.” The outline calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure, doubling the standard deduction, and more than halving the corporate tax rate; along with changing the tax treatment of pass-through businesses, expanding child and dependent incentives, and more. Both the alternative minimum tax and the federal estate tax would be eliminated. The White House proposal does not include spending and tax incentives for infrastructure; nor a controversial “border tax.”


The Treasury Department is to undertake a review and re-evaluation of tax regulations issued by the IRS since January 1, 2016. President Trump signed an Executive Order 13789 (“Identifying and Reducing Tax Regulatory Burdens”) ordering this action on April 21. Following its review and re-evaluation, the Treasury Department will make recommendations.


The IRS processed more than 128 million returns and issued some 97 million refunds without hitting any major roadblocks by the end of the filing season. As in past years, the vast majority of returns were filed electronically. Likewise, most refunds were deposited electronically. Although the filing season has ended for most individuals, millions are on extensions.


Audit coverage rates are at low levels, the IRS has reported. According to the IRS, the audit coverage rate for individuals fell 16 percent from FY 2015 to FY 2016. The 0.7 percent audit coverage rate for individuals was the lowest coverage rate in more than a decade, the agency added.


Although the employee may end up with the same amount whether something is designated a tip or a service charge, the IRS reporting requirements for the employer do differ. Basically, any amount required to be paid by a customer rather than at the customer’s discretion is considered a service charge by the IRS.


As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of May 2017.