News

Blog posts from CPA Nerds pertaining to the topic of news.

IRS Waives Penalty Fee for 400,000 Taxpayers

New IRS Waiver for Underpayment Penalty

If you received a penalty fee by surprise for underpaying your 2018 taxes, you may be in luck. Last week, the IRS announced it would waive the tax underpayment penalty for taxpayers who already submitted their 2018 federal tax returns …

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Friday News / Monday Blues

Friday News Monday Blues Featured Image

Friday News / Monday Blues The tax world is filled with good news and bad news. Start and end your week with the latest on all things taxes! Monday Blues – July 29, 2019 Alimony Paid is no longer deductible …

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Why People Are Outraged at Lower Tax Returns

Why People Are Outraged by Lower Tax Returns

Why People Are Outraged at Lower Tax Returns, But Probably Shouldn’t Be The 2018 tax season left many people confused and frustrated by overall lower tax returns. On average, refunds were 9% lower this tax season. This means that many …

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Why More People Are Filing Their 2018 Taxes Last-Minute

Why More People Are Filing Their Taxes Last Minute

This year, more people are procrastinating on filing their taxes – Are you one of them? Tax Day is nearly here (it’s April 15, in case you need a reminder), but this year, more people are waiting until the very …

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5 Things That Affected the 2019 Tax Season

2019 Tax Season Changes

What’s Changed? The 2019 tax season if vastly different from the years prior. Below are five things that have affected the 2019 tax season the most. Government Shutdown The government shutdown for three weeks has slowed the IRS down. They are …

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Amazon Tax Bill Explained

Amazon Taxes

Why the $0 Tax Bill? Amazon has historically been severely unprofitable, but has turned around in recent years and became consistently profitable, reporting nearly $11 billion in earnings last year. But despite the company’s growth, Amazon’s tax bill has decreased. …

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Why Is My Refund So Small?

Why is my tax refund so small this year?

Why Your Tax Refund is Less Than Last Year’s Should you be upset about a smaller refund for this year’s tax season? On average, refunds are 9% lower this tax season. With the Tax Cuts and Jobs Act (TCJA) passed …

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Lotito Father & Son Roll Perfectos

Bowling Math

Bowling 300 Games Bowling is great family fun, and there is nothing better than rolling a set with your parent or your child. The Lotito family, with a long history of bowling locally in many classic and traveling leagues, have …

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When will I get my 2018 Tax Refund?

When will I get my tax refund?

When will I get my tax refund? Economists will say that taxpayers should break even with the IRS at the end of the year, because they use your money interest free, but the stark reality is that it’s very difficult …

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New 2019 Sales Tax Rules

Sales Tax

Selling your product in another state? The rules are changing Historically, the onus of paying sales tax has been on the buyer. But now with ecommerce being so prevalent in today’s world, a lot of states weren’t getting their cut …

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