Withum

JUNE 1, 2022

This could be a surprise to many taxpayers and may only get worse through the 2022 taxable year. billion in taxes for the industry in 2022. Some businesses might fall under this exception if their gross receipts were severely impacted during the 2020 and 2021 taxable years due to the pandemic. Business Tax Services.

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TaxConnex

JULY 15, 2021

Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. 1, 2022, though, all retailers must apply the destination sourcing rules when calculating, collecting and remitting state sales tax.

Sales 219

Sales Tax Louisiana North Carolina 219

Withum

OCTOBER 6, 2022

Under section 7508A, the IRS gives affected taxpayers until February 15, 2023, to file most tax returns with either an original or extended due date occurring on or after September 23, 2022. Does the federal relief also extend the time to pay federal income tax? State Income Tax Filings. Contact Us.

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Snyder

JUNE 9, 2022

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

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CPA Practice

MARCH 9, 2023

16 applies to California and federal individual and business tax returns and payments. The Franchise Tax Board said taxpayers who suffered financial losses to storm damage also could be eligible to claim those losses on their tax returns. The new deadline of Oct. ©2023 MediaNews Group, Inc.

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Tax tax return California payroll 133

CPA Practice

FEBRUARY 28, 2023

16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns. 16 to file their 2022 return and pay any tax due.

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Tax Alabama Georgia tax return 128

Withum

FEBRUARY 27, 2023

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. The October 16, 2023, deadline applies to the quarterly estimated tax payments, normally due on January 17 and April 18, 2023.

California 119

California tax return Nevada payroll 119

Snyder

OCTOBER 30, 2022

Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. The answer is ‘yes’ if you approach the upcoming 2023 tax filing deadline for the Tax Year 2022 preparation wisely. How much do small businesses pay in taxes?

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MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Los Angeles Tax Representation Services.

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Withum

JANUARY 12, 2023

Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023.

California 122

California Tax tax return payroll tax 122

CPA Practice

DECEMBER 19, 2023

In February 2022, the IRS temporarily suspended the mailing of automated reminders to taxpayers to resolve their tax debts because the agency was dealing with a sizeable backlog of unprocessed returns and correspondence. The IRS estimates 5 million tax returns—filed by 4.7 5, 2022, and Dec.

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RogerRossmeisl

NOVEMBER 25, 2023

As reported via Tax Tip 2022-122 on 8/10/2022 There are a few things business owners need to do before they close their business. Of course, they need to fulfill their federal tax responsibilities. Business owners must take these steps when closing a business: File a final tax return and related forms.

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CPA Practice

OCTOBER 2, 2023

24, 2024, to file various individual and business tax returns. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software. It’s available to any person or family with an adjusted gross income (AGI) of $73,000 or less in 2022.

South Carolina 124

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CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan.

Tax 119

Tax income tax tax return payroll 119

CPA Practice

MARCH 24, 2023

Residents and businesses in five New York counties affected by recent winter storms now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service has announced. 23, 2022, and before Jan. 23 and Dec. 17, 2023, and April 18, 2023.

New York 105

New York Tax tax return income tax 105

CPA Practice

FEBRUARY 29, 2024

The Internal Revenue Service has given tax relief for individuals and businesses in parts of Washington state affected by wildfires that began on Aug. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. 15, 2023, and Jan.

Washington 98

Washington tax return Tax income tax 98

Withum

OCTOBER 19, 2022

On October 19, 2022, the IRS issued a press release ( IR-2022-183 ) warning taxpayers to be wary of third parties who advise them to claim an employee retention credit (ERC) when they do not qualify. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Contact Us.

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xendoo

JANUARY 31, 2022

In the past, although all business owners were required to report their earnings on their Federal Tax Returns , only those who received payments of $20,000 or more through payment apps also reported their earnings using Form 1099-K. Recently, that rule was changed and will affect a larger pool of business owners going forward.

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Withum

SEPTEMBER 1, 2023

Affected individuals and businesses therefore will have until February 15, 2024 to file tax returns and to pay any taxes that were originally due during the postponement period. For example, the new deadlines apply to the following: Individuals who had a valid extension to file their 2022 return due to run out on Oct.

Tax 98

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CPA Practice

OCTOBER 16, 2023

24, 2024, to file various individual and business tax returns. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software. It’s available to any person or family with an adjusted gross income (AGI) of $73,000 or less in 2022.

South Carolina 111

South Carolina Georgia income tax Vermont 111

Withum

MAY 19, 2022

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allowed taxpayers to defer the employer’s share of Social Security taxes and certain self-employment taxes, which for most employers were reported on Form 941 ( Employer’s Quarterly Federal Tax Return ). Business Tax Services. Contact Us.

Tax 124

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CPA Practice

SEPTEMBER 13, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept.

Georgia 105

Georgia South Carolina income tax tax return 105

Withum

MARCH 29, 2022

You can rest assured knowing that you haven’t been committing tax fraud all these years by excluding your birthday and holiday gifts from your tax return. For 2022 and beyond this threshold is dramatically reduced to $600 in gross payments, regardless of the number of transactions or donations. Business Tax Services.

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CPA Practice

FEBRUARY 27, 2023

16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns. 16 to file their 2022 return and pay any tax due.

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CPA Practice

APRIL 3, 2023

Individuals and households that reside or have a business in Cross, Lonoke and Pulaski counties in Arkansas now have until July 31, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service has announced. See Publication 547 for details.

Arkansas 98

Arkansas Tax tax return income tax 98

Withum

JANUARY 31, 2024

The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments. Please note that, as of this time, Rhode Island has not provided an extension of time to file the state income tax returns.

Rhode Island 72

Rhode Island income tax tax return Tax 72

CPA Practice

AUGUST 19, 2023

The Internal Revenue Service will allow Hawaii taxpayers in Maui and Hawaii counties extra time – until February 15, 2024 – to file various federal individual and business tax returns and make tax payments that would have been normally been due before then. Quarterly estimated income tax payments normally due on Sept.

Hawaii 97

Hawaii Tax income tax tax return 97

CPA Practice

AUGUST 19, 2024

The IRS is strongly urging qualifying businesses, tax-exempt organizations, and state, local, and Indian tribal governments to complete the pre-filing registration process now for projects placed in service in 2023 if they plan to claim elective pay.

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Withum

NOVEMBER 14, 2022

The IRS recently released a private letter ruling (PLR 202244004 (August 9, 2022)) that grants additional time to a taxpayer that failed to timely elect to defer the gain from a rollover of qualified small business stock (QSBS). This article was originally published by Daniel Mayo in Forbes on November 5, 2022. Contact Us.

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xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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TaxConnex

AUGUST 9, 2022

That’s the consensus of a recent report from the Institute on Taxation and Economic Policy, which notes that “so far this year 20 states have decided to forgo a combined $1 billion in vital tax revenue?in in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Iowa has modified its sales tax base.

Sales 130

Sales Louisiana Tax Iowa 130

SkagitCountyTaxServices

MARCH 17, 2023

While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. But also, there’s little more than a month before personal tax returns are due. The first-year bonus depreciation deduction was 100% through the end of 2022. Check with us.

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ThomsonReuters

DECEMBER 1, 2023

If, during the tax year, a client has purchased a tangible or intangible asset and is looking to claim depreciation and amortization deductions or expense certain property under Section 179 , Form 4562 must be filed with their annual tax return. Section 179 deductions are limited to annual taxable business income.

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Withum

MAY 16, 2022

In our example, Julia would have to include the $10,000 of cancellation of debt income in her 2021 tax return and adjust her basis in her real property by $50,000 as of January 1, 2022. This article was originally published by Lynn Mucenski Keck in Forbes on May 11, 2022. Business Tax Services. Contact Us.

Real Estate 131

Real Estate Tax income tax tax return 131

Withum

JANUARY 8, 2024

Method of Accounting Many have been waiting for clarification surrounding the IRS administrative procedures that should be followed in order to adjust 2022 federal taxable income to follow the IRS interim guidance provided in Notice 2023-63 and, more recently, Notice 2024-12.

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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?

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