Rockcraft Legal and Entertainment Services PLLC

05/14/2019

Several of my clients have expressed that the new simplified tax forms are more complex than before. And neither do they like that employee expenses are no longer deductible.

11/26/2018

IRS Get Ready campaign — take steps now for 2019 tax filing season
There are important changes that you need to know before the 2019 filing season
begins. The IRS is launching the fall series of "Get Ready" communications and
outreach messages to help you take action to file your tax returns timely and accurately
next year.
IRS.gov/getready provides information about issues and actions you can take now to be
ready to file your 2018 tax return and avoid tax surprises. In addition to news releases
that will be issued through the end of the year, IRS developed a new Publication 5307,
Tax Reform Basics for Individuals and Families. It’s available on IRS.gov/getready to
help you learn about how tax reform may affect your tax return.
In addition to lowering the tax rates, some of the changes in the law that affect individual
taxpayers, like you and your family, include:
• increasing the standard deduction,
• suspending personal exemptions,
• increasing the child tax credit,
• adding a new credit for other dependents and
• limiting or discontinuing certain deductions.
The Get Ready campaign covers several key areas in addition to tax reform that affect
different taxpayer groups. Some taxpayers must renew an expiring Individual Taxpayer
Identification Number. And, if you are using a tax software product for the first time you
will need your adjusted gross income from your 2017 tax return to validate an
electronically filed tax return.
Additionally, if you claim and qualify for the Earned Income Tax Credit or the Additional
Child Tax Credit, you may experience a refund hold. By law, the IRS cannot issue
refunds before mid-February for tax returns claiming EITC or the ACTC. This applies to
the entire refund, even the portion not associated with these credits.
You may receive a smaller refund - or even owe an unexpected tax bill – when you file
your 2018 tax return next year, especially if you did not adjust your withholding this year
after the withholding tables changed. Perform a paycheck checkup to avoid an
unwelcome surprise at tax time. For more information on making estimated or
additional tax payments, visit the Pay As You Go, So You Won’t Owe webpage.

Steps to Take Now to Get a Jump on Next Year’s Taxes

11/14/2018

U.S. Copyright Office Extends Comment Period For Rulemaking Relating to the Noncommercial Use of Pre-1972 Sound Recordings That Are Not Being Commercially Exploited
Issue No. 733 - November 14, 2018

On October 16, 2018, the United States Copyright Office published a notice of inquiry regarding the noncommercial use of pre-1972 sound recordings that are not being commercially exploited (83 FR 52176).

To ensure that commenters have sufficient time to respond to the notice, the Office is extending the deadline for the submission of initial written comments to 11:59 p.m. eastern time on November 26, 2018. Written reply comments must be received no later than 11:59 p.m. eastern time on December 11, 2018.

09/14/2018

The EU has approved a copyright law that could change the Internet as we know it.

The EU parliament today (Sept. 12) voted to approve controversial copyright reforms that have been in the works since 2016 and could transform the internet…

08/09/2018

"Music should be performed by the musician, not by the engineer, and copyrighted by an attorney." :)

06/21/2018

Supreme Court rules that states can require online retailers to collect sales tax.

The justices broke with 50 years' worth of legal rulings that barred the states from imposing sales taxes on most of the purchases their residents make from out-of-state retailers.

06/14/2018

For small business owners - why you might owe the IRS more money on June 15.

You just got done with last year's returns, but you might have to pay again.