{"id":455,"date":"2019-11-26T19:20:14","date_gmt":"2019-11-26T19:20:14","guid":{"rendered":"http:\/\/dwtaxprep.com\/?page_id=455"},"modified":"2020-11-10T13:59:46","modified_gmt":"2020-11-10T13:59:46","slug":"blog","status":"publish","type":"page","link":"https:\/\/coredmv.org\/blog\/","title":{"rendered":"Blog"},"content":{"rendered":"\t\t
Keep up with the latest trends and changes in the tax and finance industry as we ensure we keep you updated to the minute.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
Although TCJA suspended the miscellaneous itemized deduction that employees could take for non-reimbursed business expenses, self-employed individuals and certain employees, such as Armed Forces reservists, fee-basis state or local government officials, eligible educators, and qualified performing artists, that deduct unreimbursed expenses for travel away from home may still use per diem rates for meals and incidental expenses, or incidental expenses only.<\/span><\/p> The revenue procedure makes clear that TCJA amended prior rules to disallow a deduction for expenses for entertainment, amusement, or recreation paid or incurred after Dec. 31, 2017.\u00a0 Otherwise allowable meal expenses remain deductible if the food and beverages are purchased separately from the entertainment, or if the cost of the food and beverages is stated separately from the cost of the entertainment. ~IRS.gov<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Taxpayers in the private debt collection program now have a new option for paying what they owe. Taxpayers now can choose a pre-authorized direct debit. They can use this to make one payment or a series of payments toward their federal tax debt.<\/p> These taxpayers should remember to be aware of scammers. Like all taxpayers, they should be on alert for identity thieves pretending to be from a private collection agency calling about a tax bill.<\/p> Here are some facts to help people understand this new payment option:<\/p> Here\u2019s some info to help taxpayers make sure the caller is legit:<\/p> Taxpayers can report a suspected phone scam or inappropriate behavior to the Treasury Inspector General for Tax Administration on\u00a0their website<\/a>, or by calling 800-366-4484.<\/p> Share this tip on social media — #IRSTaxTip: Taxpayers in private debt collection can now make payments with direct debit.<\/p> Courtesy of IRS.gov<\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t \u201cWhile 83% of millennials said a primary reason for working was to cover basic expenses, 63% said traveling was a primary reason:\u201d\u00a0Read more here.<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t \u201c<\/strong>Housing accounted for 23 percent of the average household\u2019s total expenditures in 1901, 27 percent in 1950, and nearly 33 percent in 2018:\u201d Read more here.<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\tstaying up
to the minute<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\tmade available
for everyone<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\ttaxpayers in private debt<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
collection:direct debit<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
stats &<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
TRENDS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
millenials<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
housing expenses<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t