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IRS Suggests All Taxpayers Get IP PIN for More Security When Filing Taxes

CPA Practice

With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). How to request an IP PIN The best way to sign up for an IP PIN is through IRS Online Account.

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W-2 and 1095-A Forms Added to IRS Individual Online Account Tool

CPA Practice

27 that it's adding the two information return documents to its IRS Individual Online Account tool, which the agency said will consolidate important tax records into one digital location. The IRS said Feb.

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How To Download Your IRS Account Transcript to Look Up Your Estimated Tax Payments (Updated Jan 2025)

Nancy McClelland, LLC

Once your account is created, log in, go to the IRSs Get Transcript page and click the “Sign into your online account” button (or the “Get Transcript Online” button, depending on which version of the screen you see). At this point, most of our clients already have ID.me

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Third Estimated Tax Payment Due Sept. 16, IRS Says

CPA Practice

Their withholding and tax credits to be less than the smaller of: 90% of the tax to be shown on their 2024 tax return, or 100% of the tax shown on their complete 12-month 2023 tax return. To figure 2024’s estimated tax, the IRS recommends using income, deductions, and credits from 2023 as a starting point.

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How to avoid Self Assessment penalties

Accounting Insight

Late filing The deadline for filing your Self Assessment tax return online is midnight 31 January 2025. If you are over 3 months late submitting your tax return, you will have to pay more. HMRC also charge interest on late payments of tax or penalties, so its best to get things sorted fast.

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How to Pay Estimated Taxes: Is Your Skagit County Business Doing This Right?

SkagitCountyTaxServices

Here’s how you know (as quoted directly from the BOI reporting FAQ page ): “A reporting company created or registered to do business before January 1, 2024, will have until January 1, 2025, to file its initial BOI report.” Estimated taxes are quarterly payments made throughout the year to prepay your annual income tax liability.

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Taxpayer Advocate Delivers Annual Report to Congress, Identifies Top 10 Problems with Agency

CPA Practice

The report says the IRS virtually eliminated its backlog of unprocessed original individual income tax returns (Forms 1040) and substantially improved telephone service. Delays in processing amended tax returns and taxpayer correspondence. million users accessed individual online accounts. That’s just over 10%. “To