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The IRS has issued nearly 100 million refunds so far this year. On an average, American taxpayers are receiving approximately $2,700 per person. A tax refund is a lump sum payment that may be of a significant amount. It is highly recommended to use it wisely on a priority basis, such as paying off high...
Every year, the U.S. Internal Revenue Service (IRS) announces the standard mileage rates to be used by taxpayers for deducting automobile expenses for vehicles used for business, charitable, medical or moving purposes. These standard mileage rates are determined by the IRS, based on an annual study conducted, by an independent contractor, on the fixed and...
President Donald Trump’s “Biggest Individual and Business Tax Cut in American History” looks a lot like old economic plan from the election campaign, in which he had promised major cuts to corporate and individual tax rates. In his announcement earlier today, Secretary Steven Mnuchin along with White House chief economic adviser Gary Cohn, unveiled the...
Paying lump-sum taxes can be a huge burden on one’s cash flow. To prevent such a scenario, the U.S. Internal Revenue Service (IRS) encourages taxpayers to make estimated advance instalment tax payments. Generally, taxes must be paid as you earn or receive income during the year. For employees, the employer withholds taxes from their wages...
As per the U.S. Internal Revenue Service’s (IRS) report, in 2016 over 85% of taxpayers e-filed their 2015 tax returns. Some individuals, however, are still skeptical when it comes to e-filing. Common reasons for taxpayers opting out of e-filing are identity theft & financial data theft, even though the IRS has taken great lengths to...
Identity theft and related-tax scams have always proven to be troublesome for tax authorities. To counter these scams as much as possible, the Internal Revenue Service (IRS) initiates certain preventative measures every year. These measures are part of the Security Summit Initiative between the IRS, state authorities and financial sector under the ‘Taxes. Security. Together’...
The U.S. IRS started accepting 2016 tax returns on the 23rd of January. But many taxpayers are asking “Am I required to file a return?” The following summary prepared by AG Tax professionals, using the IRS’s guideline, should help you determine whether you are required to file a 2016 tax return or not. In addition,...
The U.S. Internal Revenue Service requires U.S. employers and U.S. Health Insurance Marketplace to issue health insurance coverage information forms to the insurance holder (employee) and send a copy of the form to the IRS as well. The deadline for sending these forms to the IRS is 28th February, if paper-filed and 31st March, if...
The Internal Revenue Service (IRS) recently announced that the U.S. tax filing season will begin Monday, January 23rd, 2017. Additionally, the tax authority also reminded taxpayers about the changed deadline for various U.S. tax forms and delay in certain tax refunds due to the Protecting Americans from Tax Hikes Act (PATH). With the 2017 tax...
The IRS will start accepting 2016 tax returns from 23rd January onward. Amongst the various tax points to keep in mind this tax season, here are a few important things to do before the U.S. Tax Filing Season. Maximize Your IRA and/or 401(k) Contributions Workplace contributions for the tax year 2016 must be made before...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
+1 (888) 502-1810New South Surrey office coming January 2025ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
12752 28th Ave, Surrey, BC, V4A 2P4OFFICEEdmonton
104–4220 98 St NW Edmonton AB, T6E 6A1