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Tax Tip Tuesday

Please follow the links below to see past Tax Tip Tuesday articles. If you would like to receive these emails, please click the link on our homepage, or email firm@millsteinco.com. 

                                          Tax Objectives 

TTT 10.10.17 Final Deadlines

TTT 10.3.17 Current Affairs and Their Tax Impact

TTT 9.26.17 Keeping You and Your Money Safe

TTT 9.19.17 Back to School Tax Tips

TTT 9.12.17 'Tis the Season to Start Tax Planning

TTT 9.5.17 Welcome Back

TTT 7.25.17 Document Retention for Individual Taxpayers  

TTT 7.18.17 Deductions and Contributions  

TTT 7.11.17 Tax Consequences of Relocating  

TTT 6.27.17 Tax Planning Throughout the Summer  

TTT 6.20.17 Summertime Bandits  

TTT 6.13.17 Selling a Home  

TTT 6.6.17 Childcare Expenses - Care and Credit Plans  

TTT 5.30.17 Attention Graduating Students and Parents  

TTT 5.9.17 Withholding and Estimated Tax Payments  

TTT 5.2.17 Key Numbers to be Aware Of   

TTT 4.25.17 Top Take-Aways This Past Tax Season 

TTT 2.14.17 Happy Valentine's Day  

TTT 1.3.17 Happy New Year  

TTT 12.27.16 Final Tax Planning News for 2016 

TTT 12.20.16 Important Dates and Knowledge  

TTT 12.13.16 College Student Tax Qualifications  

TTT 12.6.16 Keeping Your Identity Safe  

TTT 11.29.16 Motor Vehicle, Home, and Boat Owners  

TTT 11.22.16 Happy Thanksgiving  

TTT 11.15.16 Valuable Tax Tools We Provide

TTT 11.8.16 2016 Presidential Election  

TTT 11.1.16 The Secure Drawer Portal  

TTT 10.25.16 Last Remaining Tax Planning Days

TTT 10.18.16 Due Dates and Deadlines  

TTT 10.10.16 Final Tax Filing Date  

TTT 10.4.16 Holiday Observance  

TTT 9.27.16 Required Minimum Distribution  

TTT 9.20.16 Deduction Planning Opportunities  

TTT 9.13.16 Control Your Taxes with Basic Tips  

TTT 9.6.16 Considerations and Comparisons  

TTT 8.30.16 Summer 2017 is Ending; Tax Tips are Launching   

Tax Alerts
Tax Briefing(s)

Just hours before government funding was set to expire, President Trump on March 23 signed the bipartisan Consolidated Appropriations Act, 2018, averting a government shutdown. The $1.3 trillion fiscal year 2018 omnibus spending package, which provides funding for the government and federal agencies through September 30, contains several tax provisions and increased IRS funding.


The American Institute of CPAs (AICPA) has renewed its call for immediate guidance on new Code Sec. 199A. The AICPA highlighted questions about qualified business income (QBI) of pass-through income under the Tax Cuts and Jobs Act ( P.L. 115-97). "Taxpayers and practitioners need clarity regarding QBI in order to comply with their 2018 tax obligations," the AICPA said in a February 21 letter to the Service.


A top House tax writer has confirmed that House Republicans and the Trump administration are working on a second phase of tax reform this year. House Ways and Means Committee Chairman Kevin Brady, R-Tex., said in an interview that the Trump administration and House Republicans "think more can be done."


The House Ways and Means Tax Policy Subcommittee held a March 14 hearing in which lawmakers and stakeholders examined the future of various temporary tax extenders post-tax reform. Over 30 tax breaks, which included energy and fuel credits, among others, were retroactively extended for the 2017 tax year in the Bipartisan Budget Act ( P.L. 115-123) enacted in February.


The IRS has released Frequently Asked Questions (FAQs) to address a taxpayer’s filing obligations and payment requirements with respect to the Code Sec. 965 transition tax, enacted as part of the Tax Cuts and Jobs Creation Act ( P.L. 115-97). The instructions in the FAQs are for filing 2017 returns with an amount of Code Sec. 965 tax. Failure to follow the FAQs could result in difficulties in processing the returns. Taxpayers who are required to file electronically are asked to wait until April 2, 2018, to file returns so that the IRS can make system changes.


The U.S. Supreme Court reversed an individual’s conviction for obstructing tax law administration. The government failed to show that the individual knew that a "proceeding" was pending when he engaged in the obstructive conduct.