Tag Archives: tax reform

The IRS has expanded the penalty waiver and lowered the key threshold to 80 percent for those whose tax withholding and estimated tax payments fell short in 2018 due to changes made with tax reform. Many individuals may not have properly adjusted their withholding to account for changes made in the Tax Cuts and Jobs

The IRS has issued a draft form (Publication 535) that directly contradicts proposed regulations provided this past August, specifically lumping real estate agents and brokers as well as insurance agents and brokers with all other “brokerage services” as Specified Service Trade or Business (SSTB). Furthermore, it extends the definition of brokerage services to any income sourced