The New Qualified Business Income Deduction The Treasury Department and the Internal Revenue Service have issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction. The new QBI deduction, created by the 2017 Tax Cuts and Jobs Act (TCJA), allows many owners of sole proprietorships, partnerships, S corporations,… Read More

Wondering What Will Happen With Your Tax Refund If The Government Shutdown Continues? WASHINGTON ― Despite the government shutdown, the Internal Revenue Service confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown.… Read More