Check-out These Tax Tips!

Consumer Alerts on Tax Scams

Note that the IRS will never:
• Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes.
• Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying.
• Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
• Ask for credit or debit card numbers over the phone.

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Tax Cuts and Jobs Act (TCJA)

Individual Tax brackets (7) – EXPIRES after 2025:
• Current: 10%, 15%, 25%, 28%, 33%, 35% and 39.6%
• Proposed: 10%, 12%, 22%, 24%, 32%, 35% and 37%
o 10% (up to $9,525 for Individuals; up to $19,050 Married Filing Jointly)
o 12% (over $9,525 to $38,700 IND; over $19,050 to $77,400 MFJ)
o 22% (over $38,700 to $82,500 IND; over $77,400 to $165,000 MFJ)
o 24% (over $82,500 to $157,500 IND; over $165,000 to $315,000 MFJ)
o 32% (over $157,500 to $200,000 IND; over $315,000 to $400,000 MFJ)
o 35% (over $200,000 to $500,000 IND; over $400,000 to $600,000 MFJ)
o 37% (over $500,000 IND; over $600,000 MFJ)

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File on Time, Even If You Can’t Pay!

Do you owe more tax than you can afford to pay when you file? If so, don’t fail to take action!

Make sure to file on time. That way you won’t have a penalty for filing late. Here is what to do if you can’t pay all your taxes by the due date:

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