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UPDATES&INSIGHTS: TAX – May 2018

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In this issue, you will learn how to get an early tax “refund” by adjusting withholdings, the difference between a calendar and fiscal tax year, and specifics for foreign account reporting.

In This Issue:

Get an Early Tax “Refund” by Adjusting Your Withholding

The child credit has long been a valuable tax break. But, with the passage of the Tax Cuts and Jobs Act (TCJA) late last year, it’s now even better — at least for a while. Here are some details that every family should know. Read More

Choosing Between a Calendar Tax Year and a Fiscal Tax Year

Many business owners use a calendar year as their company’s tax year. But for some companies, choosing a fiscal tax year can make more sense. This article explores the differences. Read More

Foreign Accounts Call for Specific Reporting Requirements

In an increasingly globalized society, many choose to open offshore accounts to deposit a portion of their wealth. This article details how to disclose accounts to the federal government and penalties faced if you fail to do so. Read More