EPISODE 12. Taxes Now or Later? The Case for Paying at Low Tax Rates RIGHT now. IRS Tech Tools & Online Payments.

Today I want to focus on these two main topics:

1.  The US’s historically low tax rates are set to “sunset” at the end of 2025. Surprised by this? Don't be. I make the case for why these are the best tax rates to pay taxes under right now and tips on how to take tax strategy into your own hands.
 
 2.  The IRS has added some online tools & updates to their system for better user experience. I wanted to briefly update you on what you can accomplish online & how to navigate the new tools. 

Links

·        2017 Tax Brackets: https://taxfoundation.org/2017-tax-brackets

·        TCJA Expiring Provisions: https://www.mlrpc.com/articles/tax-cuts-jobs-act-overview-provisions-sunset-expire/

·        Review of changes Post TCJA: https://taxfoundation.org/child-tax-credit-changes-reform/

·        Online IRS Payments: https://www.irs.gov/payments/your-online-account

·        Document upload tool: the CP04, the CP05A, the CP06 and CP06A, the CP08, the CP09, the CP75, the CP75a or the CP75d

o   https://www.irs.gov/newsroom/taxpayers-can-now-upload-more-documents-to-irs-new-online-option-for-9-notices-can-help-resolve-issues-faster

Connect with Chelsea:
Email: taxcastwithchelsea@proton.me
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**DISCLAIMER**
Taxcast with Chelsea is not legal or tax advice for your personal tax situation. My views are my own and I am only speaking from a tax practitioner’s perspective for the general understanding of tax topics. I highly recommend you engage with an experienced tax professional if you are looking for personal tax advice.
https://www.irs.gov/pub/irs-pdf/pcir230.pdf