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IRS Says Some Veterans Owed Refunds for Overpayments

July 11, 2018 The Internal Revenue Service today is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S. Individual Income Tax Return, to claim a credit or refund of the overpayment attributable to the disability severance payment. This is a result of the Combat-Injured Veterans Tax Fairness Act passed in 2016.

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Wayfair Decision to have a Dramatic Impact

June 21, 2018 The U.S. Supreme Court’s June 21 decision that states can assert nexus for sales and use tax purposes without requiring a seller’s physical presence in the state is expected to have a major impact on U.S. retail business.

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Draft 2019 Form W-4 and Instructions Posted

June 8, 2018 A draft version of the 2019 Form W-4, Employee’s Withholding Allowance Certificate, and instructions for the form have been released by the IRS in an attempt to further simplify the task of determining income tax withholding for individual taxpayers after the passage of P.L. 115-97, known as the Tax Cuts and Jobs Act of 2017 (TCJA).

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