How Will the Tax Cuts and Jobs Act Impact Me Standard deduction: the standard deduction will be nearly doubled. Rises to $24,000 from this year's $13,000 for marrieds filing jointly and it climbs to $12,000 for singles. Mortgage interest deduction: going forward, the deduction will be limited to interest on the first $750,000 you borrow. That's down from the current rule, which lPets you deduct interest on the first $1 million o...Read More
Thank you for the 15 Great Years We are so grateful for the wonderful client relationships and friendships with each one of you. Greatways Tax Service Inc established in 2002 in Woodridge, Chicago and we are reaching our 15 years of service in this year (2017). As per the legal-professionals.credio.com Greatways Tax Service Inc is one of the top 10% of tax firms in terms of return volume in the United States. ...Read More
If you are claiming the child tax credit /Earned Income Credit you must prove your child lived with you last year. In order to prove your child’s residency, make sure to bring the documents showing your child’s names & Address such as the form 1095 from your insurance company or day care provider statement or school records etc. Without proper documentation, IRS won’t allow the child tax credit/Earned Income Credit/Col...Read More
Both US and India, signed an Inter-Governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency on tax matters. Come September 30, 2015 India and the US will start sharing information about bank accounts or financial investments made by their citizens in each other's countries. This move will help curb offshore tax evasions. "This will bring in greater transparency in tax ad...Read More
The IRS is warning people about a phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are receiving phone calls saying that they owe money to the IRS and it must be paid immediately via wire transfer or a pre-loaded debit card. If the victim does not pay, they tell the victim they will be arrested, deported, or will have their business or driver’s license suspended. The IRS will no...Read More
"I have been filing fix with Greatways almost 5-6 yrs...They are awesome !!!"
"good service, reasonable quotes, very knowledgeable and they will help every step and process . 5 stars"
"I recommend everyone and everything."
"as well as what you are looking for as far as helping maximize your tax refund, especially with all the recent changes. I've been going to Greatways Tax for the last 5 years and will be continuing to do so for years to come."
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