CPA Practice

OCTOBER 23, 2024

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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CPA Practice

SEPTEMBER 9, 2024

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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SkagitCountyTaxServices

SEPTEMBER 19, 2024

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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Nancy McClelland, LLC

JANUARY 12, 2025

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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Accounting Insight

JANUARY 16, 2025

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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CPA Practice

JANUARY 10, 2024

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

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Reckon

MARCH 26, 2024

The ATO backtracks and calls in previously ‘written off’ tax debts In a move that has raised eyebrows and stoked backlash from at least two federal Ombudsmen in a recent report, the ATO has resurrected old tax debts that had been previously ‘written off’. Independent MP Andrew Wilkie also weighed in on the debate.

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