By CAROLE FELDMAN Associated Press WASHINGTON (AP) The Internal Revenue Service’s battle against fraud and identity theft is intensifying as the tax filing season opens, and some of the neediest taxpayers are getting caught in the middle. The agency is barred from issuing refunds ...
By ALEC BERRY Staff Writer WHEELING — While 2016 did not usher through any new, major tax legislation, Jeff Yourkovich of Yourkovich and Associates in Wheeling, said filers should pay attention to at least one significant change. He said there is now a federal law which accelerates the ...
By JOYCE M. ROSENBERG AP Business Writer NEW YORK (AP) The idea of paying taxes late and incurring IRS interest charges elicits a stern “Don’t do that!” from many tax professionals. Yet some business owners decide that it’s cheaper and more convenient than taking out a loan. So those with short-term cash management issues or personal expenditures like college tuition may make a strategic decision to pay the government late. Trey Taylor’s employee benefits consulting firm was debt-free last year, and he wanted to keep it that way. But 2016 was the first year Taylor was ...
By CAROLE FELDMAN Associated Press WASHINGTON (AP) Donald Trump’s acknowledgement last fall that he had not paid federal income tax in years left some questioning why they should have to pay taxes. “I think you pay taxes because it’s the right thing to do,” National Taxpayer Advocate Nina Olson says. But that doesn’t mean you don’t take tax benefits to which you’re entitled. “It’s easy to point to some of the provisions that you may feel are in the law that are written to let some people pay zero taxes and ignore that you are getting significant benefits ...
By JANELL HUNTER For Money Matters MARTINS FERRY — President Donald Trump has promised to cut taxes and simplify the system, lessen federal regulation, tighten borders, invest in infrastructure and create manufacturing jobs. Many professionals in the local financial industry are seeing those policies as a good thing for the overall economy and investment markets. Renea Riesen, owner of an H&R Block franchise in Cadiz, said she is excited about Trump’s proposed policies and feels they will make a positive impact on financial markets and businesses. “These types of ...
Life is full of the unexpected. But just because the future is unpredictable does not mean adults cannot prepare for what lies ahead. Estate planning is important, and establishing power of attorney can be essential for men and women looking to protect their financial resources and other assets. What is power of attorney? A power of attorney, or POA, is a document that enables an individual to appoint a person or organization to manage his or her affairs should this individual become unable to do so. According to the National Caregivers Library, POA is granted to an ...
