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Professional tax help Chicago: Taxpayers Facing Tax Audits, Back Taxes, and 941 Payroll Tax Problems

MyIRSRelief

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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America’s Tax-Cut Era Has Outlasted Its Welcome

CPA Practice

accounted for 14.3% of all taxpayers’ adjusted gross income and 25.7% of all federal income taxes(1), up from 8.1% Over the same period, the group also enjoyed the largest decline in its average income-tax rate, to 25.7% Such taxes are regressive and capped, so the top 0.1% Cuts aren’t cures.

Tax 85
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Going, Going…Gone: Will Medicare Tax Liability Strike Out Shohei Ohtani’s Annual Salary?

Withum

Of course, our focus for this article is to analyze the Federal and State(s) tax effect to Ohtani over the life of his deferred contract including the deferred payments he is to receive over the 10 years after the contract has expired. Let’s start with his federal payroll tax liability.

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Shohei Ohtani’s Deferred Compensation Comes With Shocking Tax Obligations

Withum

Of course, our focus for this article is to analyze the Federal and State(s) tax effect to Ohtani over the life of his deferred contract including the deferred payments he is to receive over the 10 years after the contract has expired. Let’s start with his federal payroll tax liability.

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Boost Your Startup with the Revamped R&D Tax Credit: What You Need to Know

Shay CPA

The Inflation Reduction Act of 2022 has brought some significant amendments to the R&D Tax Credit, making it more accessible and beneficial for qualified small businesses (QSBs). The Basics The R&D Tax Credit, or IRC 41, offers taxpayers a credit against income tax for qualified research expenses (QREs).

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Top searched terms on Checkpoint Edge show a continued interest in the ERC

ThomsonReuters

According to our most recent analysis, some of the most searched terms within Checkpoint Edge are tax credits, Employee Retention Credit (ERC) , and the Inflation Reduction Act (IRA). Employers who file an annual payroll tax return can file an amended return using Form 944-X or 943-X to claim the credits.

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Friday Footnotes: EY Pulls Out of Winston-Salem; Clients Exposed in Data Breach; Deloitte Olympians | 7.14.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The Office Ernst & Young out of Triad market after closing Winston-Salem office [ Triad Business Journal ] The Triad now has offices for only two of the Big Four global accounting firms.