CPA Practice

JANUARY 24, 2023

The IRS sent out a reminder on the second day of the 2023 filing season that all digital asset-related income must be reported when taxpayers file their 2022 federal income tax returns. A question regarding digital assets must be answered by all taxpayers on their 2022 income tax returns.

tax return 119

tax return income tax Tax Account 119

TaxConnex

FEBRUARY 15, 2022

Three-quarters of respondents reported that online sales as a percentage of revenue have increased in the last two years – yet three out of five also said they’re “not completely satisfied with the way they are managing sales tax.”. Not to mention that filing dates for monthly returns can happen on multiple dates!

Sales 264

Sales Tax income tax tax return 264

Dent Moses

JULY 19, 2022

Governor Ivey recently signed Senate Bill 261 into law, which increases the tax credit for contributions made to Scholarship Granting Organizations (“SGO”). Effective in 2022, an Alabama taxpayer may claim up to 100% of the individual’s Alabama tax liability for contributions made to an SGO, not to exceed $100,000 per year.

Alabama 98

Alabama income tax Tax tax return 98

Withum

DECEMBER 19, 2022

However, players do not dream of having to pay taxes on the foreign-sourced income they earn while playing abroad. On Saturday, December 3, 2022, the USA was knocked out of the World Cup by the Netherlands in the Round of 16. Per the IRS , the United States has tax treaties with several countries. Contact Us.

income tax 120

income tax Michigan Pennsylvania Sports 120

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.

income tax 52

income tax tax return E-commerce Tax 52

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.

tax preparation 132

tax preparation Tax tax return income tax 132

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

OCTOBER 17, 2023

According to the IRS, Arizona, California, Massachusetts, and New York have decided to work with the agency to integrate their state taxes into the Direct File pilot program for the 2024 filing season. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

tax return 116

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Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties.

Government 124

Government income tax tax return Florida 124

CPA Practice

APRIL 24, 2023

The IRS also notes that taxpayers who are owed a refund won’t be penalized or fined for filing late, but people shouldn’t overlook filing a tax return when they are due a refund… unless you really want to basically donate that money (your money) to the IRS. 16 to prepare and file 2022 tax returns electronically.

income tax 97

income tax tax return Tax online accounting 97

CPA Practice

SEPTEMBER 1, 2023

The IRS previously provided guidance on state payments made in 2022: IRS issues guidance on state tax payments to help taxpayers. The guidance is being issued as part of the IRS’s efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers.

income tax 118

income tax Tax tax return Government 118

CPA Practice

FEBRUARY 20, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 98

tax return Tax income tax 98

xendoo

JANUARY 12, 2022

To help you with this process, we’ve put together this complete guide for filing business taxes in 2022. You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022?

business tax 98

business tax Tax tax return tax preparation 98

Ronika Khanna CPA,CA

AUGUST 29, 2024

One of these obligations requires that you calculate and pay the full amount of your income taxes when you file your income tax return, rather than having your employer remit deductions from your paycheck directly. In Quebec, the amount of taxes paid in the previous year for which instalments would apply is $1,800.

income tax 76

income tax Tax tax return business tax 76

CPA Practice

JANUARY 12, 2023

The 2023 tax-filing season will open on Jan. 23—the day in which the IRS will begin accepting and processing 2022 tax year returns, the agency said on Thursday. The IRS is urging taxpayers to have all the information they need before they file a tax return. The IRS has set a special day on Jan.

tax return 133

tax return income tax Tax Washington 133

Going Concern

NOVEMBER 8, 2024

This would be a big blow for firms such as PwC which, in 2022, received more than $79 million in fees from Macquarie Group alone. The musician filed a complaint because the accounting firm’s employee failed to timely file tax returns from 2014-2018. Lovesac to settle accounting violation suit brought by SEC for $1.5

Florida 98

Florida Mississippi audit auditor 98

Reckon

JUNE 13, 2022

EOFY 2022 is coming up fast which means tax time is looming…. If you’re a business owner, the ATO requires entities of all sizes to file their tax documentation before 30 June 2022. Try our EOFY 3-month free trial offer of Reckon One which is only available until 1 July 2022. Key tax dates. July 2022.

Tax 98

Tax tax return Start-ups income tax 98

RogerRossmeisl

FEBRUARY 20, 2023

The IRS announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and processing 2022 tax year returns. The reason is you can potentially protect yourself from tax identity theft. How can your tax identity be stolen?

Tax 130

Tax tax return income tax CPA 130

CPA Practice

SEPTEMBER 25, 2023

15, 2024, to file their tax returns and make tax payments because of Hurricane Lee’s impact. The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA) , and all 16 counties in Maine and all 14 counties in Massachusetts qualify. So, this is more time to file, not to pay.

Massachusetts 115

Massachusetts Maine Tax income tax 115

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 make 2022 contributions to their IRAs and health savings accounts.

Tax 128

Tax Alabama Georgia tax return 128

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

South Carolina Georgia Tax income tax 124

CPA Practice

SEPTEMBER 22, 2023

What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A Fewer IRS audits involving credits for taxpayers with lower incomes?

audit 119

audit income tax tax return Tax 119

CPA Practice

JUNE 29, 2023

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file.

income tax 111

income tax Mississippi tax return Arkansas 111

Withum

MARCH 30, 2023

As of March 29, 2023, the IRS has published five documents expressing that the employee retention credit (ERC) is rife with fraud because of unscrupulous tax credit shops. TP can only accept a client’s responses at face value if they are reasonable and cannot ignore information the TP knows or has received from the client.

tax return 126

tax return income tax auditor audit 126

CPA Practice

JANUARY 30, 2023

Most individual taxpayers won’t have such issues for this tax season. For clarification, the weeks leading up to the April 18, 2023 , deadline is when Americans file tax returns for income they received during the 2022 calendar year, or they can file an automatic extension, which gives them an additional six months to file.

income tax 105

income tax Tax tax return Massachusetts 105

CPA Practice

SEPTEMBER 11, 2023

million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” A bench trial was held in the spring of 2022, which concluded with Tostrud again ruling in Mayo Clinic’s favor. By Jeff Kiger, Post-Bulletin, Rochester, Minn.

Real Estate 115

Real Estate Tax Education Hospitality 115

CPA Practice

APRIL 8, 2023

It’s almost March, and the 2023 tax filing season is well underway. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. That’s without an expensive “tax refund loan” or other similar product.

income tax 115

income tax Tax tax return Massachusetts 115

Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. Taxable Income Over. 2022 Long-Term Capital Gains Tax Bracket. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Tax-Advantaged Accounts. Capital Gain Planning.

tax planning 98

tax planning Tax Construction income tax 98

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

ThomsonReuters

FEBRUARY 16, 2023

IRS Publication 502 (Medical and Dental Expenses (for 2022 Returns)); IRS Publication 503 (Child and Dependent Care Expenses (for 2022 Returns)) Publication 502 Publication 503 The IRS has released updated versions of Publications 502 and 503 for the 2022 tax year. employer-sponsored medical plans).

income tax 98

income tax tax return Tax Account 98

Snyder

OCTOBER 30, 2022

The answer is ‘yes’ if you approach the upcoming 2023 tax filing deadline for the Tax Year 2022 preparation wisely. Read till the end to find a helpful table with all important 2023 Tax Deadlines for the Tax Year 2022! How much do small businesses pay in taxes? How to file income tax?

tax preparation 98

tax preparation E-commerce Tax income tax 98

CPA Practice

JANUARY 29, 2024

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. Where’s My Refund?” tool on IRS.gov.

tax return 116

tax return Tax income tax tax preparation 116

CPA Practice

JANUARY 26, 2023

Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Use same employer identification number on all forms Employers need to make sure the employer identification number (EIN) on their wage and tax statements (Forms W-2, W-3, etc.)

payroll tax 128

payroll tax tax return income tax payroll 128

Withum

MARCH 15, 2023

This marks the third time in six months the IRS has issued a written warning to taxpayers – the first two were issued in October and November of 2022, and we wrote about the October notice here. Also on March 7, 2023, the IRS’s Office of Professional Responsibility (OPR) issued a warning to tax professionals regarding the ERC.

tax return 130

tax return income tax audit Tax 130

ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What taxes are reported on Form 941?

income tax 98

income tax tax return payroll Tax 98

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

Going Concern

MARCH 24, 2023

love and taxes forever my heart- “Suitable for singles without dependents” LOL The game’s itch.io Iris here~ Tax Heaven 3000 is a visual novel dating game that actually prepares your 2022 federal income tax return! The Tax Heaven 3000 application does not connect to the internet.

Tax 122

Tax tax return Gaming income tax 122