RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday.

California 211

California Tax tax return CPA 211

CPA Practice

FEBRUARY 24, 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. compared to last year.

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tax return Tax income tax 130

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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tax return Tax tax preparation Florida 116

CPA Practice

MARCH 1, 2023

But what about when death and taxes coincide, such as when someone dies during the year and has a tax filing obligation? Unfortunately, when someone is deceased, the decedent’s personal representative is generally required to file any final tax returns for the deceased person. The online tool, (i.e., “How

income tax 122

income tax tax return Tax tax preparation 122

RogerRossmeisl

APRIL 25, 2023

When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as a head of household is more favorable than filing as a single taxpayer.

Tax 216

Tax tax return CPA 216

RogerRossmeisl

APRIL 28, 2024

You may have filed your tax return by the due date (4/15/2024), or you may have filed an extension until 10/15/2024. In either case, once your 2023 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations. Waiting for your refund?

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tax return Tax CPA 100

CPA Practice

APRIL 8, 2023

Updated: April 8, 2023: 7:41 pm ET. 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. T he Tax Deadline is April 18, 2023?

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income tax Tax tax return Massachusetts 115

RogerRossmeisl

AUGUST 6, 2023

It allows contributions to be made for a spouse who is out of work or who stays home to care for children, elderly parents or for other reasons, as long as the couple files a joint tax return. Your May be Able to Put Money in an IRA appeared first on Roger Rossmeisl, CPA. Benefits of an IRA As you may.

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tax return CPA Tax 196

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. Taxpayers have three extra days to file in 2023 due to the calendar. Taxpayers have three extra days to file in 2023 due to the calendar.

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tax return income tax Tax Washington 133

RogerRossmeisl

FEBRUARY 18, 2024

The IRS announced it opened the 2024 income tax return filing season on January 29. That’s when the tax agency began accepting and processing 2023 tax year returns. Here are answers to seven tax season questions we receive at this time of year. (1) 1) What are this year’s deadlines? Keep in mind.

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Tax Massachusetts income tax tax return 159

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. compared to last year.

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tax return Tax income tax 98

RogerRossmeisl

APRIL 17, 2024

April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations, pay the first installment of 2024 estimated income taxes. Complete and retain Form 1120-W (worksheet) for your records.

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Tax income tax tax return CPA 143

CPA Practice

APRIL 19, 2023

According to Caseware’s 2023 State of Accounting Firms Trend Report , more than 90% of accountants and 95% of auditors find hiring skilled talent challenging. Everything was handled by a CPA, from collecting client documents to doing the work and delivering the tax return, financial statements or other work products.

Technology 123

Technology CPA tax return auditor 123

CPA Practice

JANUARY 30, 2023

Updated: January 8, 2023: 11:01 pm ET. Let’s talk about tax refunds… and when taxpayers might get theirs in 2023. This has been the top question we get for more than 10 years: “ When will I get my tax refund? ” Will the 2023 tax filing season be normal? T he Tax Deadline is April 18, 2023?

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income tax Tax tax return Massachusetts 105

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. Employers must also provide copies B, C and 2 of Form W-2 to their employees by January 31, 2023. and their payroll tax returns (Forms 941, 943, 944, etc.)

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payroll tax tax return income tax payroll 128

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-51 4/17/2023 After someone with a filing requirement passes away, their surviving spouse or representative should file the deceased person’s final tax return. On the final tax return, the surviving spouse or representative should note that the person has died.

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tax return income tax CPA Tax 130

RogerRossmeisl

FEBRUARY 18, 2024

But if you don’t receive such a letter, can you still claim a deduction for the gift on your 2023 income tax return? What the law requires To prove a charitable donation for which you claim a tax deduction, you must comply with IRS substantiation requirements. It depends.

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income tax tax return CPA Tax 104

CPA Practice

FEBRUARY 24, 2023

24, 2023: 4:41 pm ET. It’s almost March, and the 2023 tax filing season is well under way. 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. T he Tax Deadline is April 18, 2023?

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income tax Tax tax return Massachusetts 98

CPA Practice

FEBRUARY 3, 2023

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits. Find an Illinois CPA at www.icpas.org/findacpa.

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Tax Illinois tax return cpas 119

CPA Practice

DECEMBER 19, 2023

Some of the standouts for December 2023 are described below. Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. to $250 effective July 1, 2023.

South Carolina 111

South Carolina Tax Florida tax return 111

CPA Practice

OCTOBER 17, 2023

In a Direct File report the IRS submitted to Congress on May 16, as required by the Inflation Reduction Act, 72% of American taxpayers surveyed said they were “very interested” in or “somewhat interested” in using a government tool to electronically file their tax returns.

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tax return Tax South Dakota tax preparation 116

TaxConnex

MARCH 24, 2022

implementing sales and use tax collection requirements for marketplace sellers and facilitators who don’t have a physical presence in the state. Missouri, whose economic laws have been approved but not yet put into effect, also has no marketplace facilitator laws until January 1, 2023. returns for direct sales and indirect sales.

South Dakota 245

South Dakota Nevada Minnesota Missouri 245

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-61 on 5/3/2023 Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. appeared first on Roger Rossmeisl, CPA.

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tax return CPA Tax Sales 130

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The IRS issued Notice 2023-21 on Feb.

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Rhode Island tax return Tax West Virginia 122

CPA Practice

OCTOBER 2, 2023

This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

South Carolina 124

South Carolina Tax Georgia income tax 124

CPA Practice

OCTOBER 16, 2023

This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

South Carolina 111

South Carolina Georgia income tax Vermont 111

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.

Tax 130

Tax tax return income tax CPA 130

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-103 9/5/2023 Starting a new business can seem overwhelming for new entrepreneurs or even seasoned professionals. The IRS has resources to help new business owners understand the tax responsibilities of running a business. It’s a separate entity owned by shareholders.

Tax 130

Tax income tax tax return CPA 130

CPA Practice

MAY 24, 2023

The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process. In addition, taxpayers and their preparers must often obtain records from third parties to properly determine their tax liability.

Tax 134

Tax tax return cpas CPA 134

RogerRossmeisl

MARCH 5, 2024

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be an opportunity to lower it. For 2023, The post If You Didn’t Contribute to an IRA Last Year, There’s Still Time appeared first on Roger Rossmeisl, CPA.

tax return 111

tax return CPA Tax 111

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

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-89 in October 2019 Kids are expensive. There are several tax breaks that can help. Confirming a child’s birth is the only way the IRS can verify that the parent is eligible for the credits and deductions they claim on their tax return.

Tax 130

Tax tax return Hospitality CPA 130

CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. Unfortunately, there’s also a “critical talent shortage,” says Tom Hood, CPA, a vice president with the AICPA. ( [link] ).

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quickbooks payroll Technology audit 130

CPA Practice

AUGUST 22, 2023

The Internal Revenue Service is reminding large trucks and bus operators with a taxable gross weight of 55,000 pounds or more to e-file Form 2290, Heavy Highway Vehicle Use Tax Return (PDF), by the Aug. 31, 2023, payment deadline for vehicles first used in July 2023.

Tax 96

Tax tax return income tax 96

CPA Practice

NOVEMBER 9, 2023

While the actual percentages of the tax brackets will remain the same until 2025 because of the Tax Cuts and Jobs Act of 2017, the income levels of each bracket change annually to adjust to inflation. These tax rates are for the 2024 tax year covering tax returns that will be filed in 2025. Visit nj.com.

Tax 130

Tax tax return income tax 130

Going Concern

NOVEMBER 8, 2024

In “Offshoring for CPA firms: The hows and whys,” JofA throws out some figures on outsourcing — both foreign and domestic — based on responses from its MAP survey and sticks to the official line about how the CPA talent shortage is forcing these poor firms to look elsewhere for talent.

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tax return CPA cpa firm Tax 110

CPA Practice

MAY 24, 2023

For the 2023 filing season, the IRS is using 236 identity theft filters compared to the 168 filters it used during the 2022 tax season. For the 2023 filing season, the IRS is using 236 identity theft filters compared to the 168 filters it used during the 2022 tax season. million tax returns with $6.5

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tax return Tax Start-ups 111