The recently enacted Tax Cuts and Jobs Act (TTCJA) is a sweeping tax package. Here's an overview of some of the more important individual tax and business tax changes in the new law.
Partnership audit procedures have been radically shaken up after 34 years of little to no change. For tax years beginning after January 1, 2018, generally audit adjustments will be made at the partnership level and the tax, penalties and interest as a result of the adjustments will be collected directly from the partnership...
Could it be time for you to look into an estimated tax tune-up?
The answer is, yes - especially if you're self-employed, retired and paying quarterly tax installments, or simply want to avoid being liable for penalties.