Resources for Advisors

In IR-2019-152, the Service reminded certain taxpayers the third quarter estimated tax payment is due on September 16, 2019. The fourth quarter's estimated tax payment for tax year 2019 will be due on January 15, 2020. Most investors, self-employed individuals and workers in the sharing economy do not have wage withholding, but instead must make quarterly estimated tax payments. The IRS explained, "The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, fundamentally changed the way tax is calculated for most taxpayers, including those with income not subject to withholding." Most of these individuals have interest, dividends, capital gains, rental income or other types of taxable income. If you have substantial income, you may avoid an underpayment penalty by owing less than $1,000 in added tax for the year or (for most taxpayers) paying 90% or more of your 2019 tax...

The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...