RogerRossmeisl

APRIL 21, 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. See June 15. (See

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Tax income tax tax return CPA 208

CPA Practice

JULY 30, 2024

While the Treasury Inspector General for Tax Administration (TIGTA) report noted that more than 95 percent of the IRS’ workers were in full compliance with their personal taxes, 1,068 were disciplined for their noncompliance issues. In total, the IRS has more than 85,000 employees and more than 25,000 contractor workers.

income tax 116

income tax Tax tax return 116

RogerRossmeisl

JULY 16, 2022

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. August 1 Report income tax withholding and FICA taxes for second quarter 2022 (Form 941), and pay any tax due. See the exception below, under “August 10.”)

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Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

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RogerRossmeisl

NOVEMBER 5, 2021

Have you heard of the “nanny tax?” Hiring a house cleaner, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have state tax obligations. 2021 and 2022 thresholds In 2021, you must withhold and pay FICA taxes if your household.

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Tax income tax CPA 179

RogerRossmeisl

SEPTEMBER 27, 2021

According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% Be aware of the tax implications if you’re selling your home or you sold one in 2021. You may owe capital gains tax and net investment income tax (NIIT). over July of 2020.

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Tax income tax CPA Sales 207

CPA Practice

JUNE 15, 2023

The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, according to a new report from the Treasury Inspector General for Tax Administration. 105 taxpayers didn’t receive all of their eligible child tax credit, estimated at $139,000. This process uncovered 3.8

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CPA Practice

SEPTEMBER 1, 2023

The IRS has provided guidance on the federal tax status of refunds of state or local taxes and certain other payments made by state or local governments to individuals. The IRS previously provided guidance on state payments made in 2022: IRS issues guidance on state tax payments to help taxpayers.

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MyIRSRelief

MAY 19, 2023

With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems. Contact us for tax help today.

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Anders CPA

OCTOBER 18, 2022

New legislation signed on October 5, 2022, exempts taxpayers’ first $1,000 of income from taxation and will reduce the top rate of individual income tax. This law will be applicable to tax years beginning on or after January 1, 2023. Changes to Missouri’s Income Tax Rate. Income Tax Rate Reductions in 2024.

income tax 52

income tax Missouri Tax CPA 52

Dent Moses

FEBRUARY 24, 2022

This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress. Taxpayers with qualifying children under the age of 18 as of 12/31/2021. AGI less than $438,000 during 2021.

Alabama 52

Alabama income tax Tax tax return 52

Withum

MARCH 7, 2024

The VDP allow taxpayers to keep 20% of the ERC claimed, tax free, as well as the interest received, but taxpayers must apply to the program by March 22, 2024, and agree to extend the statute of limitations. Should I File a Protective Income Tax Refund Claim? Is There Legislation Pending That Would Alter the ERC?

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Tax income tax tax return audit 126

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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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Deductions work by reducing your total gross income.

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Tax income tax Legal Entertainment 52

CPA Practice

MAY 8, 2023

Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year. Tennessee, Texas, and Florida are among the most commonly moved-to states, and it just so happens that these states don’t tax income.

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New York California North Carolina South Carolina 125

Anders CPA

OCTOBER 28, 2024

The Internal Revenue Service (IRS) has released its annual inflation adjustments for tax year 2025. Detailed information about the adjustments and changes to the over 60 tax provisions impacting taxpayers can be found in Revenue Procedure 2024-40.

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TaxConnex

SEPTEMBER 29, 2020

The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19. city council was also recently set to vote on giving a quarter of online sales tax revenue to the city’s schools in 2021. (A Sales taxes were up 8.2 The Decatur, Ala.,

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Sales Tax Alabama Texas 233

xendoo

NOVEMBER 1, 2021

You might not be thinking about taxes until closer to the deadline, but planning your eCommerce tax deductions is a year-round process. If you run an online business, investing in tax-deductible business expenses can reduce your tax burden and increase your profits. Property taxes. Homeowner’s insurance.

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Tax Transportation tax return bookkeeping 95

Shay CPA

NOVEMBER 13, 2024

In 2017, the Tax Cuts and Jobs Act (TCJA) brought sweeping changes to U.S. tax law — but not all of them were permanent. If you’re in your pre-seed stage and still operating as a sole proprietorship or a partnership — or you’ve founded an S-corp — the TCJA offered a qualified business income deduction. Income tax rate changes.

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Tax corporation tax income tax CPA 52

ThomsonReuters

APRIL 1, 2021

IRS Notice 2021-21 (Mar. 29, 2021); IRS News Release IR-2021-67 (Mar. In response to the continuing COVID-19 emergency, the IRS has offered deadline relief for 2020 federal income tax returns that also extends the deadline for 2020 contributions to HSAs, IRAs, and certain other accounts. Tax Refunds and Credits.

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Withum

MARCH 20, 2024

For the latest news and updates on Montana state and local tax March 20, 2024 Montana Releases Pass-Through Entity Tax Common Issues to Avoid Authored by: Jessie Racioppi and Penny Sweeting , CPA The Montana Department of Revenue released “Common Errors to Avoid when Filing Form PTE – Tax News You Can Use.”

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Montana Tax income tax tax return 52

RogerRossmeisl

JUNE 16, 2021

If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. No maximum tax limit applies to the Medicare tax.

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CPA Practice

JUNE 10, 2024

By Kathryn Anne Edwards, Bloomberg Opinion (TNS) For more than two decades, America has pursued a policy as costly as the New Deal of the 1930s or the Great Society of the 1960s, but with a much narrower aim: cut taxes. Americans are increasingly dissatisfied with their taxes. of all taxpayers’ adjusted gross income and 25.7%

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Tax income tax payroll tax Government 85

CPA Practice

MARCH 1, 2023

By Leada Gore, al.com (TNS) The end of pandemic-era stimulus programs is having an impact on tax refunds. 17 show the average tax refund is $3,140, down 11.2%, or $396, from last year. Taxpayers will not receive an additional stimulus payment with a 2023 tax refund because there were no Economic Impact Payments for 2022.

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Tax income tax 116

Withum

MARCH 24, 2022

While I understand that movies require us to suspend our disbelief, as a self-confessed tax nerd, I just can’t ignore the flagrant disregard of tax rules. So, with the 2021 individual tax filing deadline coming up, it had me wondering, is America’s favorite comic book and movie hero a tax cheat? Author: Scott W.

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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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RogerRossmeisl

FEBRUARY 28, 2021

But analysts expect it to improve in 2021 as the country comes out of the pandemic. If you are considering such a transaction, it’s important to understand the tax implications of buying or selling a business. The current 21% corporate federal income tax rate makes buying the stock of a C.

Tax 130

Tax income tax CPA business tax 130

CTP

MARCH 10, 2023

The IRS published Revenue Ruling 2019-11 at the end of March 2019 in order to answer questions that arose due to limitations imposed on itemized deductions for state and local taxes (SALT) by the 2017 Tax Cuts and Jobs Act (TCJA). Do they need to include the amount of their refund in their next year’s gross income? It depends.

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Tax income tax tax return B2B 98

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 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. million in restitution.

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ThomsonReuters

JULY 25, 2023

Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes? In simple terms, an overpayment on taxes is paying more than what is owed.

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Tax income tax payroll tax return 98

Bharmal&Associates

JANUARY 13, 2021

The stimulus bill contains a hodgepodge of eight new or extended tax breaks intended to help Form 1040 taxpayers. None of these tax breaks are earthshaking by themselves, but together they add up to a nice tax present for COVID-19-weary Americans. Here are eight new tax breaks that can help you.

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Tax income tax cpas Account 147

RogerRossmeisl

AUGUST 15, 2021

On 7/16/2021, Governor Newsom signed into law AB-150, which provides a means by which certain pass-through entities (Qualified Entities) can make an election to pay California income tax (at the entity-level) on behalf of their owners, for which their consent must be given.

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California income tax CPA Tax 243

CPA Practice

MARCH 31, 2023

tax data, however, suggests at least one super-wealthy individual flew under the radar until the very end. 28, 2023: The deposit of $7 billion in the category of “estate and gift” taxes. It was the highest collection of that kind of tax since at least 2005. It was the highest collection of that kind of tax since at least 2005.

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Tax tax return income tax Pennsylvania 132

ThomsonReuters

DECEMBER 11, 2020

The IRS has added an optional computational bridge to its 2021 version of Publication 15-T (Federal Income Tax Withholding Method) that employers can use if they want to treat 2019 or earlier Forms W-4 as if they were 2020 or later Forms W-4 for the purposes of determining federal income tax withholding.

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TaxConnex

DECEMBER 29, 2022

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Heading into the new year, state sales tax revenues were up coast to coast, often by double-digit percentages. Add that U.S. Too much or too little?

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Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. Q8: Will PPP loan forgiveness be taxable on my state income tax return?

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Tax tax return income tax corporation tax 126

TaxConnex

SEPTEMBER 22, 2022

There’s always something changing in the world of tax, especially sales tax. Sales tax on digital products was the subject of a white paper draft at the Multistate Tax Commission’s annual meetings in Anchorage, Alaska. Sales tax revenues continue their robust pandemic-driven rise in many states. Virtual reality.

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