MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

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Going Concern

SEPTEMBER 25, 2023

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction. We were not willing to let Mr Carter continue practising.”

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CPA Practice

APRIL 11, 2024

The Justice Department is advising taxpayers to choose their return preparers wisely as the April 15 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

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CPA Practice

APRIL 5, 2024

TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. By Annette Cary, Tri-City Herald, Kennewick, Wash. Owen, CPA, at 100 N.

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xendoo

SEPTEMBER 28, 2021

If you want to make sure that you and your small business are ready for the 2021 tax season, then it is essential to remain well organized throughout the year. Lastly, you need to know about all of the various tax deadlines that might apply to your business throughout the year. Excise Tax. State Income Tax.

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CPA Practice

APRIL 9, 2024

But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. It is not a form the average taxpayer can use to avoid tax bills, the IRS said.

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Nancy McClelland, LLC

MARCH 29, 2022

To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.

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CPA Practice

MAY 5, 2023

In a virtual press conference held Thursday, Gillibrand said the employee retention credit (ERC) was approved by Congress in 2020 and offered a tax refund to a business that continued paying its employees despite being shut down for the COVID-19 pandemic or experienced a significant decrease in income starting March 13, 2020.

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CPA Practice

JULY 27, 2023

Five alumni of Auburn University who teamed together to create the software development company SmartWiz have been awarded $150,000 in developmental funds by Google to advance and distribute their tax accounting software.

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CPA Practice

SEPTEMBER 8, 2023

the maker of the popular TurboTax tax filing software, “… engaged in deceptive advertising in violation of Section 5 of the FTC Act” and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible. Michael Chappell, ruled that Intuit Inc.,

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Going Concern

MARCH 24, 2023

Up until now, Tax Heaven 3000 creators MSCHF have been known for sneaker drops more than sketchy tax prep games (is anyone known for sketchy tax prep games?). A 2020 NYT profile explains : MSCHF isn’t a sneaker company. You have to admit the Tax Heaven 3000 website beats any tax prep portal currently on the market.

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Going Concern

APRIL 4, 2025

Tax IRS: 7,000 probationary workers will return to their jobs in next 10 days [ Journal of Accountancy ] About 7,000 probationary IRS workers who lost their jobs in February and were placed on administrative leave in March will return to work later this month, according to an email they received Tuesday. It’s free!

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes? Partnership Tax Deadlines.

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SkagitCountyTaxServices

JANUARY 28, 2021

But today is about simplifying, and clearing up the confusion — hopefully helping YOU to act quickly, and wisely with what is available to you by way of small business aid and tax savings options. This is just the goodies within the tax code, which is why I put it together. Because action will be necessary in some cases.

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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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CPA Practice

FEBRUARY 10, 2023

Anyone who electronically files an amended individual income tax return can for the first time select to have any resulting refund deposited into their bank account, the IRS said on Feb. Individual Income Tax Return , with the IRS had to wait for a mailed paper refund check, adding an extra step onto the amended return process.

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Withum

DECEMBER 22, 2023

Taxpayers also must disclose to the IRS identifying information and other details about any advisors or tax preparers who advised or assisted them with their ERC claims. In addition to the VDP, the IRS announced that it started sending up to 20,000 letters with proposed tax adjustments to recapture erroneously claimed ERCs.

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SkagitCountyTaxServices

FEBRUARY 4, 2021

So, last week I ran through the (rather incredible) selection of NEW and/or extended tax credits available for Skagit County business owners. But this is the great thing about working with business owners in tax strategy … we can get so creative and make a MASSIVE impact for your bottom line. Want to get a jump on things?

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LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of. That’s right!

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xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . What is a tax deduction?

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CPA Practice

OCTOBER 10, 2023

The demand for skilled tax practitioners in the accounting profession has never been more critical. It provides essential services due to the complexity of tax laws and the importance of offering valuable tax-saving advice to clients; and that’s just the tax half of the industry. By Richard Lavina and Ralph Carnicer.

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LyfeAccounting

OCTOBER 21, 2020

?. In federal taxes you owe $78,435.72. Look, those were like your tax liabilities from last year. So I’d say, learn how to use small business tax deductions to lower your liability. Because you definitely don’t want to spend more in taxes for another year. Because like clockwork, taxes come due every year.

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PYMNTS

AUGUST 12, 2020

BigCommerce reported in its filings that revenue growth in the first quarter of 2020 was north of 29 percent, reaching $33.1 You might know Intuit as the financial services company that is home to the personal finance app Mint and tax preparation app TurboTax , among other offerings. million from $10.3

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CPA Practice

AUGUST 15, 2024

22, and those businesses that apply for and are accepted into the program have to repay 85% of the tax credit back to the agency. This second round of the program is open for tax periods in 2021; employers can’t use this new window to disclose and repay ERC money from tax periods in 2020, the agency said.

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SkagitCountyTaxServices

NOVEMBER 25, 2020

With all of the insanity of 2020, it seems a bit crazy (and a bit of a relief, to be frank) that we now find ourselves in Thanksgiving week in Skagit County. I have some thoughts, which are perhaps a bit more meditative than normal, because of how this holiday works for tax accountants, especially this year. 2020 has been quite a year.

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MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

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PYMNTS

JANUARY 7, 2021

But instead of the instantaneous payments, some residents are receiving messages that they can only get their checks after filing their 2020 tax returns, per CNBC. CNBC reported thousands of such emails from Americans in dire need of the checks to pay bills. 15, and because of the speed, some mistakes may have been made.

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PYMNTS

APRIL 5, 2020

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. who are not required to file taxes, and some 80 percent are eligible for a stimulus check. There are roughly 10 million people in the U.S.

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CPA Practice

JANUARY 12, 2024

the technology company that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , has integrated TurboTax into Credit Karma and QuickBooks Online, allowing customers to prepare and file their 2023 taxes within those programs’ interfaces. Intuit Inc. ,

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SkagitCountyTaxServices

DECEMBER 23, 2020

Either you’ll get bit by the tax implications of these (while the debate still rages about the deductibility of PPP-funded expenses), or the funding will end up simply delaying the inevitable demise of your business because you haven’t been able to pivot. Yes, that 2020 cliche … but it’s real.).

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xendoo

AUGUST 2, 2021

For example, some companies might have a greater need for professional help when preparing their taxes, but less during the remainder of the year. . You may soon discover that tax preparation takes a considerable amount of time and attention, both of which could be better spent on growing your business. IT auditing.

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LyfeAccounting

OCTOBER 28, 2020

As you can probably tell from the title – 5 year end tax tips, in today’s post, I’ll be going over tax tips and specifically year-end tax tips that will save you on your tax bill! Now I know the pure thought of taxes is not exactly fun. 5 Year End Tax Tips You Can Try. This tax tip is actually 2 fold.

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Nancy McClelland, LLC

APRIL 9, 2023

Reminder: Due to a new law , Illinois S-Corp and Partnership owners should generally pay quarterly IL state ( not federal) taxes through the business. The post below is about how to pay IL taxes personally ; click here for how to make IL business tax payments. and ask you what kind of tax payment you wish to make.

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SkagitCountyTaxServices

SEPTEMBER 16, 2020

Here we are, with Q3 of 2020 in the rearview mirror, THANK GOODNESS. Only one more quarter left in this 2020 donkey — but it’s going to be an eventful one. But here’s something that doesn’t HAVE to be unexpected: making further proactive moves to minimize your taxes for this year.

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CPA Practice

FEBRUARY 3, 2023

According to the indictment, Rendon submitted fabricated loan applications to lenders in New Jersey and Idaho by falsifying her company’s revenue, payroll, number of employees, cost of goods sold and IRS tax information in order to qualify for the COVID-19 relief benefits. Among the worst offenders in South Florida: Back in 2020, David T.

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Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. So, to make sure we’re all on the same page, here are a few choice tax benefits that are often overlooked.

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PYMNTS

MARCH 17, 2020

The federal tax filing deadline in 2020 has been waived in the wake of coronavirus disruptions. But come coronavirus or the Martian measles, taxes will be filed, and refunds issued. But come coronavirus or the Martian measles, taxes will be filed, and refunds issued. It’s unprecedented. Amazing development.

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