What’s the U.S. economic outlook for the next decade? The Congressional Budget Office (CBO) just released a report that projects the federal deficit in 2020 will be 4.6% of gross domestic product (GDP) and...

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The IRS is informing employees that they can use Forms W-4 printed before Dec. 31, 2019, even though those forms list the now out-of-date 10%-of-AGI medical expense deduction. The Taxpayer Certainty and Disaster Tax...

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Are you required to file a 2019 tax return? Not everyone is. But even if you’re not required to file, it can be a good idea to do so anyway. For example, some people...

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A valuable employee benefit got a little better for 2020. One category of benefits is for transportation in a commuter highway vehicle and any transit pass, now worth up to $270 per month....

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Have you had a recent life change, such as a marriage, divorce, financial gain or financial loss? You can contact the Cg Team with any questions about changes in your financial situation. In addition,...

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The rules that allow certain benefits to S corporations that revoke their S corporation status and become C corporations (referred to as eligible terminated S corporations, or ETSCs) are applicable only if the revocation...

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Black Friday and Cyber Monday are over, but shopping-related scams persist. That’s why the IRS wants taxpayers to take these simple steps to protect their identities, their financial assets and their devices: Shop at...

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The Tax Cuts and Jobs Act (TCJA) resulted in changes for some business travelers. The IRS has issued guidance in Revenue Procedure 2019-48 for these travelers and their employers to clarify the changes. The...

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As the holidays near, many taxpayers are thinking about how they want to “give back” and donate to charities. An IRS tool lets taxpayers learn if the organizations they donate to qualify for a...

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The Tax Cuts and Jobs Act suspended miscellaneous itemized deductions for tax years beginning after Dec. 31, 2017, and before Jan. 1, 2026. To reflect the change, the IRS has updated rules for using...

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