January 2017

24 Jan

Posted at 16:00h in News

Schools must send their students a 1098-T form to report the amount of qualified education expenses paid by the student during the year. This form is important because the information it reports is used to calculate many of the educational tax benefits the IRS offers. The...

24 Jan

Posted at 15:35h in News

Due to changes in the law, starting in 2017, the IRS can't issue refunds before Feb. 15 for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). This applies to the entire refund, not just the portion associated with...

24 Jan

Posted at 15:29h in News

January 31 is the due date for Forms W-2, W-3 and certain Forms 1099-Misc. Penalties for failure to file correct information returns and/or to furnish correct payee statements have increased. Information returns and payee statements include, for example, Forms 1098, 1099, and W-2. These forms...