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Level 1

pay property taxes before or after Dec 31

With new tax laws should the property taxes be paid before or after December 21

Solved
Best answer December 17, 2018

Best Answers
QuickBooks Team

pay property taxes before or after Dec 31

Hi there, pegasus74!

 

It's a delight to see you in the Community. Allow me to jump in here and add up some details to the information provided by @Pete_Mc

 

Are you referring to the Tax Cuts and Jobs Act tax law changes? If so, most of the changes in the new law will take effect in 2018, but will affect the tax returns by 2019. 

 

You can find more information from these IRS articles:

I agree with @Pete_Mc above! It'd be best to consult with an accountant or contact the IRS helpline for the exact filing and payment dates. I can provide the general overview about this, while they have detailed information about its implementation. 

 

These resources should help clear things up regarding this matter. 

 

Don't hesitate to let me know if you're referring to something different. I'll be around, anytime! 

View solution in original post

2 Comments
Community Champion

pay property taxes before or after Dec 31

I'd check with your accountant.

 

I did read something recently that the IRS said that HOMEOWNERS that have  already been assessed for next years taxes, can pay and take the deduction.  But I personally haven't seen anything on business deductions and apparently you can not just make a prepayment if you have not received the bill/notice.  (But I'm not an accountant, so all bets are off.)

QuickBooks Team

pay property taxes before or after Dec 31

Hi there, pegasus74!

 

It's a delight to see you in the Community. Allow me to jump in here and add up some details to the information provided by @Pete_Mc

 

Are you referring to the Tax Cuts and Jobs Act tax law changes? If so, most of the changes in the new law will take effect in 2018, but will affect the tax returns by 2019. 

 

You can find more information from these IRS articles:

I agree with @Pete_Mc above! It'd be best to consult with an accountant or contact the IRS helpline for the exact filing and payment dates. I can provide the general overview about this, while they have detailed information about its implementation. 

 

These resources should help clear things up regarding this matter. 

 

Don't hesitate to let me know if you're referring to something different. I'll be around, anytime! 

View solution in original post

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