When people hear about the Internal Revenue Service (IRS), they often think of taxes and audits. Occasionally, it is not the taxpayers that get audited. Occasionally, the IRS gets audited.
The IRS did a commendable job of starting the 2019 tax season on time. Generally, one of the peaks in the season occurs right away with those expecting refunds wasting no time to get their money back.
Imagine needing to talk to an actual person at the IRS to stop the pending seizure of your savings. For roughly three weeks, no one answered the phones. The Service was, however, still working tax collection cases.
If you are a Californian with a high income, the $10,000 cap placed by the federal tax overhaul on state-and-local tax deductibility is about to hit you for the first time.
On April 1, 2019, a new California Department of Tax and Fee Administration (CDTFA) rule will go into effect. It requires out-of-state online retailers who have annual California transactions of 200 or more or generate more than $100,000 in sales from Californians to collect and remit sales taxes.