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.

tax return 130

tax return Tax income tax 130

Accounting Today

AUGUST 20, 2024

In 2023, 125 violation cases of unauthorized access of tax return data were reported, the highest since 2018, but instances of disclosure violations remains low.

tax return 126

tax return Tax 126

RogerRossmeisl

JANUARY 12, 2023

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

California 216

California Tax tax return CPA 216

CPA Practice

MARCH 1, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Benjamin Franklin coined the famous saying that “in this world, nothing is certain but death and taxes.” But what about when death and taxes coincide, such as when someone dies during the year and has a tax filing obligation? 31, 2022, you can file a joint 2022 return.

income tax 122

income tax tax return Tax tax preparation 122

TaxConnex

APRIL 30, 2024

Q: Is this a “tax” or a “fee”? As with many taxes, this was created as one way to generate revenue. A: For fiscal year 2023-2024, 28 cents per package. A: States always think a tax-revenue avenue is a good idea. A: A retail delivery to a purchaser who is exempt from sales and use tax is likewise exempt.

Minnesota 264

Minnesota Retail Colorado Tax 264

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

Insightful Accountant

APRIL 8, 2024

The deadline for most taxpayers to file and pay their 2023 federal tax is April 15, 2024 The IRS has some important reminders for taxpayers who haven’t filed yet.

tax return 105

tax return Tax 105

TaxConnex

JANUARY 7, 2025

Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.

Sales 147

Sales Rhode Island Tax tax return 147

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

Accounting Today

AUGUST 26, 2024

Millionaires only accounted for 0.22% of total returns filed this year for the 2023 tax season.

tax return 135

tax return Tax Account accountant 135

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) 2) When is my return due if I request an extension?

Tax 159

Tax Massachusetts income tax tax return 159

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?

tax return 100

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?

income tax 115

income tax Tax tax return Massachusetts 115

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.

tax return 133

tax return income tax Tax Washington 133

RogerRossmeisl

APRIL 17, 2024

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 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.

Tax 143

Tax income tax tax return CPA 143

Accounting Today

FEBRUARY 13, 2024

While passage in the Senate is uncertain, many of the changes could impact 2023 tax returns.

Tax 132

Tax tax return Finance 132

CPA Practice

DECEMBER 19, 2023

The start of a month typically brings some number of tax-related changes. Some of the standouts for December 2023 are described below. From December 1, 2023, through February 29, 2024, retail sales of residential energy sources and services are exempt from local sales and use tax in Erie County, New York.

South Carolina 111

South Carolina Tax Florida tax return 111

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. People face a July 17 deadline to file their returns.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

OCTOBER 17, 2023

Thirteen states have agreed to participate in a trial run of the IRS’s free online return filing system, called Direct File, during the 2024 tax season, the agency said on Tuesday. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

tax return 116

tax return Tax South Dakota 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. 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.)

payroll tax 128

payroll tax tax return income tax payroll 128

CPA Practice

OCTOBER 2, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. 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.

South Carolina 124

South Carolina Tax Georgia income tax 124

CPA Practice

NOVEMBER 9, 2023

By Karin Price Mueller, nj.com (TNS) The IRS on Thursday released updated tax brackets and standard deductions for 2024. 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.

Tax 130

Tax tax return income tax 130

CPA Practice

JANUARY 19, 2023

The Tax Blotter is a round-up of recent tax news. The tax law provides generous tax breaks to investors in real estate, but there are several key tax pitfalls to watch out for. If you sell investment real estate, you generally have to pay capital gains tax, up to maximum rate of 20% on long-term capital gain.

Real Estate 122

Real Estate Tax tax return income tax 122

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

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. million individual tax returns to be filed by the April 15, 2024, tax deadline. Although the IRS will not officially begin accepting and processing tax returns until Jan. The agency expects more than 128.7

Tax 133

Tax tax return income tax Massachusetts 133

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.

Tax 119

Tax Illinois tax return cpas 119

Withum

APRIL 3, 2024

Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Can still be deducted in the 2023 tax years if the return is not filed… Who Are the Ideal Candidates?

income tax 98

income tax Tax tax return 98

CPA Practice

JANUARY 22, 2024

In a news release today reminding taxpayers that they once again must answer a digital asset question and report all digital asset-related income when they file their 2023 income tax return, the IRS noted that it has included a crypto question on four additional tax forms ahead of filing season.

tax return 119

tax return income tax Tax Non-Profits 119

Cherry Bekaert

OCTOBER 10, 2023

Iowa On September 29, 2023, the Iowa Department of Revenue announced that the 2022 Pass-Through Entity (PTE) Tax election and 2022 PTE Tax Form are available through GovConnectIowa. North Carolina On October 3, 2023, House Bill 259 (Session Law 2023-134) , North Carolina’s 2023 budget bill, was enacted.

Iowa 104

Iowa North Carolina Virginia Tax 104

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

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

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. Benefits of an IRA As you may.

tax return 196

tax return CPA Tax 196

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

tax return 111

tax return Tax Start-ups 111

TaxConnex

MARCH 24, 2022

In the world of sales tax, household names like Amazon, eBay and Etsy are major marketplace facilitators. Not only that, the marketplace facilitator in many situations assumes the responsibility for collecting and remitting the applicable sales tax. But there are, as always in the world of sales tax, conditions.

South Dakota 245

South Dakota Nevada Minnesota Missouri 245

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. Corporation: Also known as a C corporation.

Tax 130

Tax income tax tax return CPA 130

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

FEBRUARY 2, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan. 10 to Sept.

Rhode Island 113

Rhode Island Tax income tax tax return 113