New Tax Laws – New Problems

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IRS Announces Change to 2018 Schedule D

Some returns may have had calculation errors due to the new tax laws, specifically with Capital Gains Tax. In May, the Revenue Service announced a change to calculations on Schedule D. We make every effort to verify accuracy on tax returns we prepare, however we can never anticipate changes made by the IRS after the tax deadline.

We have performed a cursory review of our client returns and do not believe this would have been a substantive error on any given return. If we prepared your return and you would like to know if it  was impacted, please reach out to your preparer.

Here is the announcement by the IRS: Error in Tax Calculation in Schedule D Tax Worksheet

 

 

 

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