IRS Waives Penalty for Taxpayers Who Paid at Least 85 Percent

IRS waives penalty for many whose tax withholding and estimated tax payments fell short in 2018 The Internal Revenue Service announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.

Employee Achievement Award Rules

The IRS reminds employers that last year’s Tax Cuts and Jobs Act made changes to several programs that can affect an employer’s bottom line and its employees’ deductions. This includes employee achievement awards.

New ABLE Account Benefits

The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE) accounts.

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