CPA Practice

FEBRUARY 28, 2025

Most farmers and fishers who chose to forgo making estimated tax payments by January that they must generally file their 2024 federal income tax return and pay all taxes due by March 3, 2025.

income tax 116

income tax tax return Tax 116

CPA Practice

JULY 26, 2024

By Karin Price Mueller, nj.com (TNS) New Jersey residents will have a new way to file their federal tax returns when it’s time to file for 2024, the IRS and state officials said Wednesday. Married couples who file a joint tax return were eligible if they had qualifying income of $250,000 or less.

New Jersey 105

New Jersey tax return income tax Tax 105

Withum

AUGUST 14, 2024

The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.

South Carolina 126

South Carolina North Carolina Georgia Florida 126

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.

Tax 130

Tax tax return income tax 130

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. In all of these states, the relief period ends on May 1, 2025 (postponement period).

South Carolina 130

South Carolina North Carolina Tax Alabama 130

Going Concern

NOVEMBER 8, 2024

Law & Order Clark Hill Wins for Accounting Firm in Tax Dispute With Rock Band Member [ Clark Hill ] The Clark Hill trio convinced the court that the accounting firm was not liable for an employee’s business management and tax preparation services she provided on the side for a member of a rock band.

Florida 98

Florida Mississippi audit auditor 98

CPA Practice

DECEMBER 10, 2024

2 awarded $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants for 2025 to organizations that provide free federal tax return preparation. 30, 2025, the IRS awarded grants to 41 TCE and 315 VITA applicants. The IRS on Dec. For the period from Oct.

tax return 82

tax return income tax Tax 82

SkagitCountyTaxServices

MARCH 6, 2025

And unfortunately, its not mostly the fun stuff keeping you busy its things more on the housekeeping side of running your business, like meeting tax and other important government deadlines. Monday, March 17 : S corporation and partnership tax returns are due for calendar-year businesses. Whats in it for you?

tax return 66

tax return Tax CPA income tax 66

Withum

OCTOBER 3, 2024

The tax relief postpones certain tax filing and payment deadlines that started as early as September 22, 2024, to May 1, 2025. May 1, 2025 2024 Form 1065 March 15, 2025 *Postponement date would allow a proper extension until October 30, 2025. What does the filing and payment relief apply to?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

CPA Practice

MARCH 24, 2025

The number of tax returns that have been filed with the IRS is down 1.7% compared to this time last year, but the average tax refund amount is up 5.2%, according to the agency's latest 2025 tax season data.

tax return 76

tax return Tax income tax 76

CPA Practice

OCTOBER 4, 2024

The Internal Revenue Service says its Direct File program has added 12 new states and will be available for the 2025 tax filing season. For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin.

Alaska 126

Alaska South Dakota North Carolina tax return 126

Menzies

JANUARY 23, 2025

HMRC launched a new one-to-many campaign on 15 January 2025 specifically targeting delivery drivers who HMRC believe have failed to deliver a tax return disclosing their income. Read on to find out how to address your past and present UK tax obligations. Once registered, you can then prepare and file a tax return.

tax return 52

tax return chartered accountant Tax income tax 52

CPA Practice

JANUARY 10, 2025

The IRS expects more than 140 million individual tax returns to be filed ahead of the April 15 federal deadline, with more than half of all tax returns filed this year with the assistance of a tax professional.

tax return 105

tax return Tax income tax 105

Accounting Insight

JANUARY 16, 2025

Do you feel ready to do your Self Assessment tax return with a smile this year? 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.

tax return 52

tax return quickbooks Tax income tax 52

CPA Practice

AUGUST 2, 2023

Treasury Secretary Janet Yellen announced on Wednesday that the IRS has set a goal to go paperless by 2025. The IRS processed more than 213 million electronically-filed tax returns earlier this year, which accounted for more than 81% of all individual tax returns. That has generated about $38 million in recoveries.

Tax 98

Tax tax return Technology accountant 98

CPA Practice

SEPTEMBER 13, 2024

The Internal Revenue Service is offering tax deadline relief for individuals and businesses in the entire state of Louisiana, affected by Tropical Storm Francine that began on Sept. 3, 2025, to file various federal individual and business tax returns and make tax payments. 3, 2025 (postponement period).

Louisiana 104

Louisiana Tax tax return income tax 104

Nancy McClelland, LLC

JANUARY 12, 2025

For example, if you’re trying to prepare a tax return for a prior-year and need a list of all the informational documents filed with the IRS that are associated with your SSN, you’d want a Wage & Income Transcript. Tax nerds unite!) “ What About State Information?

Tax 52

Tax tax return accountant accounted 52

Withum

DECEMBER 4, 2024

Employers must withhold the additional Medicare tax from wages in excess of $200,000, regardless of filing status or other income. Thus, you can minimize the additional Medicare tax by deferring income to 2025.

tax planning 52

tax planning Tax income tax tax return 52

Withum

JANUARY 2, 2024

Pennsylvania Senate Bill 815, signed into law on December 14, 2023, amended the Pennsylvania tax code to recognize irrevocable grantor trusts for tax years beginning after January 1, 2025. These transactions will now be disregarded for Pennsylvania income tax purposes as well.

Pennsylvania 78

Pennsylvania income tax Tax tax return 78

CPA Practice

SEPTEMBER 12, 2024

They also include rules regarding various statutory and regulatory adjustments in determining AFSI; determining if a corporation is subject to the CAMT, including rules for members of a foreign parented multinational group (FPMG) and the determination of the CAMT foreign tax credit. 1, 2025. 31, 2023, and before Jan.

Tax 106

Tax income tax tax return financial statements 106

CPA Practice

JANUARY 8, 2025

The early availability of the IRS Free File online systems will allow taxpayers to prepare and file their returns before the IRS officially starts accepting them, but they will then be already electronically in line when processing begins.

tax return 131

tax return Tax income tax 131

Going Concern

FEBRUARY 10, 2025

pic.twitter.com/BuMGHJuKx9 — Jessica Smith, EA , not a CPA (@Taxsavvyjessica) February 9, 2025 Something to chew on as both sides argue about fraud and waste: My dad was an auditor with The Indiana Department of Revenue. You’d think it paid a lot in taxes, right? Well it paid precisely $0 in federal income taxes last year.

Indiana 52

Indiana Tax accountant accounted 52

Withum

OCTOBER 3, 2023

The deadline to file 2020 claims is April 15, 2024, and the deadline to file 2021 claims is April 15, 2025. The concern then was that if the Court declared the law unconstitutional, then the net investment income tax and certain other taxes could be invalidated too, thereby giving rise to potential claims for refund.

income tax 122

income tax audit tax return Tax 122

Reckon

FEBRUARY 20, 2025

The deadline for the new tax reporting requirements for Not For Profit (NFP) organisations with an active ABN is set for 31st March 2025. However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. This is a drastic change from how tax exemption was calculated for NFPs.

Non-Profits 52

Non-Profits income tax Tax Government 52

TaxConnex

NOVEMBER 10, 2022

I graduated in 1985 with a Masters in Tax. I was trained in income tax and expected to have a career in public accounting, but I only lasted a few years in a couple of different large CPA firms. I then went to the BellSouth Corporation tax department and had various roles. What inspired you to start this business?

income tax 130

income tax tax return Sales Tax 130

CPA Practice

MARCH 7, 2025

A federal jury convicted a Michigan businessman on March 5, 2025, for not paying employment taxes and not filing his own individual income tax returns.

Michigan 71

Michigan income tax Tax tax return 71

CPA Practice

JULY 1, 2024

The regulations require brokers to report certain sale and exchange transactions that take place beginning in calendar-year 2025 on the soon-to-be released Form 1099-DA. This information will give taxpayers confidence in reporting income from digital assets while improving compliance efforts,” the agency said.

Tax 114

Tax Real Estate tax return Sales 114

Cherry Bekaert

MAY 28, 2024

508 clarifies the computation of the upcoming C-Corporation 2025 franchise tax base cap. Starting January 1, 2025, the franchise tax for C-Corporations will be $1.50 per $1,000 of its tax base. However, the maximum for the first $1,000,000 of a corporation’s tax base is $500. Additionally, S.B.

North Carolina 104

North Carolina Tax income tax tax return 104

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. Late and skipped estimated tax payments can incur penalties even if a refund is due when a tax return is filed.

West Virginia 95

West Virginia South Dakota South Carolina North Carolina 95

Insightful Accountant

DECEMBER 19, 2024

With the 2025 filing season quickly approaching, the Internal Revenue Service encouraged taxpayers to take key steps now to prepare for filing their 2024 federal income tax returns next year.

income tax 52

income tax Tax tax return 52

Dent Moses

NOVEMBER 1, 2022

The IRS recently announced the 2023 annual inflation adjustments for over 60 tax provisions. Most of these changes will apply to the calendar year 2023 tax returns that will be filed in 2024. Income Tax Brackets. The special income tax rates on qualified dividends and long-term capital gains range from 0% to 20%.

income tax 98

income tax tax return Tax Sales 98

Inform Accounting

JANUARY 9, 2023

The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased in from April 2026. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) was due to be phased in from April 2024. This will replace the need for a Self-Assessment tax return.

income tax 52

income tax Tax tax return Government 52

Cherry Bekaert

MAY 3, 2024

What Is Global Tax Minimization? Global tax minimization is the process that companies follow to fully comply with the tax law in each country in which they operate in such a manner that their worldwide income tax liability is reduced to the lowest possible amount. income tax return.

Tax 104

Tax income tax Non-Profits corporation tax 104

Anders CPA

JANUARY 7, 2025

In 2025, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. Below, we highlight any payroll tax and withholding updates or consistencies for 2025 that employers and employees should be aware of. on wages up to $176,100.

payroll tax 52

payroll tax payroll Missouri Tax 52

CPA Practice

MARCH 10, 2023

Under the Tax Cuts and Jobs Act (TCJA), the interest is deductible on acquisition debt up to a $750,000 threshold for 2018 through 2025, down from $1 million. To qualify for the write-off, the loan must be secured by a qualified residence, such as your principal residence or a second home like a vacation home.

Tax 98

Tax Arizona income tax Construction 98

Withum

FEBRUARY 21, 2024

A large operating company is any entity with (a) more than 20 full-time US employees, (b) an operating presence at a physical office within the US, and (c) more than $5,000,000 of US-sourced gross receipts reported on its prior year federal income tax return (IRS Forms 1120, 1120-S or 1065 only).

income tax 125

income tax tax return accounting and finance Tax 125

CPA Practice

JUNE 19, 2023

(Image credit: Courtesy of Michael Aloi) JP Morgan Asset Management found ROC distributions may reduce the taxable portion of REIT distributions by an estimated 60% to 90%, allowing for more of the dividend to be income-tax-free. Return of capital is an important tax advantage for REIT investors. under prior law.

Real Estate 111

Real Estate Tax income tax Legal 111