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. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

JANUARY 29, 2024

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. That sort of virtual hand-holding is similar to what you’d get by using commercial tax preparation software.

tax preparation 105

tax preparation South Dakota tax return Arizona 105

Going Concern

JANUARY 30, 2024

Without bothering to search our archive of 16,000+ posts published since 2009, it’s a safe guess that we’ve never written about (revenue >$5 million) of Scottsdale, Arizona. ” Additionally there’s this scary bit of info: File Your Tax Return. But we are today!

accounting firms 111

accounting firms Account accounted accountant 111

CPA Practice

OCTOBER 4, 2024

State and eligibility expansion For the 2025 tax filing season, eligible taxpayers in 24 states will be able to use Direct File: 12 states that were part of the pilot last year, plus 12 new states where Direct File will be available in the upcoming filing season. Direct File will begin accepting tax returns when the filing season opens.

Alaska 126

Alaska South Dakota North Carolina tax return 126

MyIRSRelief

AUGUST 2, 2024

They must withhold federal income tax, Social Security, and Medicare taxes from employees’ wages and pay the employer’s share of these taxes. Additionally, businesses must file employment tax returns and make timely deposits. Ensure that your tax returns accurately reflect these limitations.

audit 130

audit Tax Nevada Colorado 130

TaxConnex

SEPTEMBER 7, 2023

Sometimes nonprofits and not-for-profits must pay sales tax when they buy items, at least initially, as in North Carolina. But as always with sales tax, rules vary state to state. In Arizona , for instance, sales to nonprofits are generally not exempt but retail sales usually are. How important are these certificates?

Sales 147

Sales Tax Non-Profits North Carolina 147

TaxConnex

JUNE 1, 2023

So, is cancelling your sales tax registration simple? Process varies by state Cancelling can be as straightforward as writing “Final” on your sales tax return. In Arizona, you can’t cancel until you don’t meet the nexus threshold during the current and prior calendar year. And do you always want to do it?

Sales 130

Sales Tax New Jersey North Carolina 130

TaxConnex

OCTOBER 3, 2023

Louisiana continues to face complaints from Arizona jewelry wholesaler Halstead Bead , who claims that the home-rule state’s sales tax system is unconstitutional due to its compliance burdens on out-of-state sellers. Most recently, the U.S. Effective next Jan.

Sales 147

Sales Louisiana Tax Tennessee 147

MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Contact us for professional tax help today! Certain factors, such as high claim amounts or inconsistencies in reported data, may trigger an audit.

audit 130

audit North Carolina Oklahoma Ohio 130

CPA Practice

APRIL 26, 2024

Stats the agency released today about Direct File’s results, user feedback, and costs include: 140,803 taxpayers in the 12 states involved in the pilot program—Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming—filed their federal tax returns through the new service.

South Dakota 110

South Dakota Tax New Hampshire Wyoming 110

CPA Practice

MARCH 10, 2023

In 2005, Brother A purchased a home in Paradise Valley, Arizona for $1,525,000. On his 2012 federal income tax return, Brother C deducted $66,354 of mortgage interest paid relating to the Paradise Valley property—half of the total mortgage interest paid in 2012 on the loan as reported by Wells Fargo.

Tax 98

Tax Arizona income tax Construction 98

ThomsonReuters

JULY 10, 2023

Use tax only applies to out-of-state purchases where no sales tax was collected and, as noted earlier, the consumer is typically responsible for remitting use tax per calendar year. People can use tax return due dates to pay use taxes. However, many consumers do not pay the tax.

Sales 97

Sales Tax Arizona Georgia 97

CPA Practice

APRIL 9, 2024

Compliance and Reporting Ensuring compliance with payroll tax regulations involves timely and accurate reporting to various tax authorities. As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Filing tax returns and remitting payments on time.

payroll tax 110

payroll tax West Virginia payroll cpas 110

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Form 1099-NEC took effect for the 2020 tax year. The draft forms include information related to the COVID-19 tax credits.

payroll 98

payroll income tax Vermont Iowa 98

CPA Practice

APRIL 11, 2024

This year, for the first time, residents of 12 states who file simple tax returns can file online for free using the IRS’s new Direct File portal. Thanks to funding from the Inflation Reduction Act and as part of an ambitious modernization effort, this new public tool makes tax filing faster, easier and cheaper for eligible filers.

Tax 52

Tax tax return income tax Arizona 52

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

MARCH 17, 2023

Derek Chauvin, who appeared for the hearing via Zoom from the Arizona prison where he is serving a 22½-year sentence for killing Floyd and violating his civil rights, was first charged in 2020 along with his ex-wife with underreporting their income.

Tax 52

Tax Arizona tax return Washington 52

CPA Practice

SEPTEMBER 23, 2024

Maryland and North Carolina will join several other states participating in the online initiative, following the success of pilot programs in Arizona and New York. Four states developed a personalized companion tool using the pilot, allowing their residents to file state returns.

North Carolina 59

North Carolina Maryland Tax Technology 59

CPA Practice

OCTOBER 18, 2023

Of the 45 states (plus the District of Columbia) that have a general sales tax, 10 stand out as being especially tricky for sales tax compliance: Arizona, California, Colorado, Florida, Illinois, Louisiana, Missouri, New York, Tennessee, and Texas. Gail Cole is a writer for Avalara.

Sales 59

Sales South Dakota Tax Missouri 59

Anders CPA

SEPTEMBER 28, 2022

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

Going Concern

SEPTEMBER 18, 2023

.” Overland Park Police Foundation under scrutiny over disbursements to Arizona marketing firm : They were supposed to help police officers, their families, and the community. Is there some kickback from that telemarketing group in Arizona? I mean, those are questions that need to be asked,” he said.

audit 64

audit Account accounted accountant 64

Cherry Bekaert

SEPTEMBER 22, 2024

The states with the largest number of those new jobs include Arizona, Georgia, Kansas and Tennessee 2. July 3, 2024: IR-2024-182 – IRS Warns of New Scam Targeting Clean Energy Tax Credits The IRS has identified instances where some tax return preparers misrepresent the rules for claiming clean energy credits under the IRA.

Manufacturing 64

Manufacturing tax return Tax Kansas 64

CPA Practice

APRIL 19, 2024

For example, businesses should exclude sales made through a registered marketplace facilitator when determining whether they’ve reached the economic nexus threshold for Arizona and Minnesota. Some states require marketplace facilitators to identify their own sales separately from third-party sales on their sales tax returns.

Tax 59

Tax Wyoming Alaska Louisiana 59

TaxConnex

NOVEMBER 12, 2024

Seven states made up 60% of out-of-state audits in the survey: Alabama, Arizona, California, Colorado, Georgia, New York and Texas. Auditors routinely request sales tax returns, federal income tax returns, G/L details, fixed asset schedules, sales journals and purchase journals. Review the paperwork.

audit 113

audit Sales Tax auditor 113

CPA Practice

MARCH 12, 2024

After several weeks of testing , the IRS said on Tuesday that eligible taxpayers in 12 states can now use its new Direct File service to submit their tax returns online for free directly with the agency. This includes 5.2 million in California, 3.8 million in Texas, 2.8 million in New York, 2.4 million in Florida, and 1.1

South Dakota 108

South Dakota income tax tax return Arizona 108

ThomsonReuters

AUGUST 2, 2021

The IRS has posted a draft version of Form 941-X , Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, that takes into account the COVID-19 tax credits and the new credit for COBRA premium assistance payments from the American Rescue Plan Act (ARPA). Return to work guidance for employers and employees.

payroll 52

payroll North Carolina New Hampshire Oregon 52