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January 2019 Archives

IRS workers called back to work

The government shutdown continues with many of the 880,000 federal workers still on furlough. Many news reports claim, however, that the IRS is preparing for the beginning of the tax filing season on January 28 by recalling 46,052 workers (or 57 percent of the 80,265 workers on staff) to work. Much to the consternation of many including the National Treasury Employees Union (NTEU), most of these workers will not be paid until the government reopens. The IRS has previously been operating with only 12.5 percent of its staff, which is less than 10,000 employees.

Will the government shutdown affect filing my taxes?

The federal government remains in a partial shutdown as the president and congress go toe to toe over border security. This means that 880,000 federal employees are currently on furlough, including seven in eight of those at the Internal Revenue Service. Experts believe that there will be no delays in the processing and issuing of returns as long as the shutdown does not drag on past the middle of January. It should also be noted that tax payers can file online or submit them via the mail even if the government is shut down.

If you file for liquidation bankruptcy, will you lose your stuff?

When a person owes a tremendous amount of debt, it can be difficult to know what to do next. For many, filing for bankruptcy is a smart and practical choice, but many refrain from taking this step because they have various misconceptions about what this step will mean. One misunderstanding that people have regarding consumer bankruptcy is the assumption they will lose their belongings. 

Are Opportunity Zone deals worth the risk?

Different initiatives have been designed by the federal government to incentivize private investment in low-income communities. Today, it is Opportunity Zones that are located in a few areas here in Austin, but an estimated 57 percent across the country would qualify. These types of new markets programs have been around for a while but have gained new relevance in the new Tax Cuts and Jobs act of 2017.

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William T. Peckham
1104 Nueces Street, Suite 104
Austin, TX 78701
Phone: 512-487-7604
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