Ronika Khanna CPA,CA

MAY 3, 2024

Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. the new home buyer’s credit or the hybrid car tax credit.

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Summit CPA

OCTOBER 10, 2024

Although, when these errors result in more taxes owed, it may result in additional interest and penalties for the taxpayer. The majority of returns with incorrect information are due to mistakes rather that fraud. Padding business deductions with non-deductible personal expenses may be considered tax fraud.

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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FraudFiles

OCTOBER 19, 2021

Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets.

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ThomsonReuters

NOVEMBER 26, 2024

If there is one thing accountants and tax preparers know for sure, it’s that an efficient tax workflow is key to remaining competitive in an increasingly digital tax and accounting landscape. Let’s take a look at what a digital tax workflow is all about and how it can unlock efficiencies for your accounting firm.

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CPA Practice

APRIL 28, 2024

The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week. Tax topics during the week will include: Monday, April 29. Expect the unexpected — The IRS can help small businesses after a disaster. Thursday, May 2.

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Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns).

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Withum

JUNE 1, 2022

Some businesses might fall under this exception if their gross receipts were severely impacted during the 2020 and 2021 taxable years due to the pandemic. Under the various safe harbor proposals, the amendment of a prior return would not be necessary. Business Tax Services. Contact Us. Contact Us.

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MyIRSRelief

DECEMBER 15, 2022

Some of the benefits include: Improved financial management: Proper accounting and bookkeeping can help small business owners to get a better understanding of their financial situation, including how much money they are making, what their expenses are, and how much they owe in taxes.

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CPA Practice

MARCH 9, 2023

Storms, wildfires and flooding damage have pushed back the tax filing deadlines for most Californians. 16 applies to California and federal individual and business tax returns and payments. The IRS said the extension includes most 2022 individual and business returns originally due April 18.

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TaxConnex

JULY 15, 2021

percent sales tax created three years ago to address a budget crisis, has been sent to the governor for executive approval. Maryland is offering a vendor credit of up to $3,000 on sales tax returns for the months of March, April and May 2021. The state’s HB 514 , which would indefinitely extend a 0.45

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MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Los Angeles Tax Representation Services.

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Withum

JANUARY 12, 2023

These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. For more information about the IRS’ relief provisions for California taxpayers affected by this winter’s storms, please see IRS CA-2023-02 and IRS Alert IR-2023-03. Contact Us.

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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

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Withum

OCTOBER 6, 2022

Under section 7508A, the IRS gives affected taxpayers until February 15, 2023, to file most tax returns with either an original or extended due date occurring on or after September 23, 2022. Does the federal relief also extend the time to pay federal income tax? Contact Us. Let’s Chat.

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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?

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SkagitCountyTaxServices

MAY 19, 2021

With the last minute legislative changes, software update delays, and IRS service issues — this very well might have been the most disrupted and difficult tax season in decades. But despite an exhausting tax season, we’re never done, and we’re always here for YOU – including for a business tax return review.

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Withum

JANUARY 13, 2022

From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

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MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable.

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CPA Practice

OCTOBER 2, 2023

24, 2024, to file various individual and business tax returns. Taxpayers potentially affected by recent storms should visit the disaster relief page on IRS.gov for the latest information. They typically have 180 days after they leave the combat zone to file returns and pay any taxes due.

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Going Concern

NOVEMBER 7, 2024

Drop your information here , and we’ll reach out to schedule a call to discuss how Accountingfly can work for you. Sign up now to find your next hire. Our recruiting services are exclusively available for clients and candidates in the United States.

Real Estate 52

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xendoo

JANUARY 31, 2022

The IRS Schedule C is used by sole proprietors and single-owner LLCs to report your small business taxes and is part of your personal tax return. We understand that business taxes can seem confusing, if not overwhelming. All sole proprietors and single-owner LLCs will have to file Schedule C each tax year.

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MyIRSRelief

NOVEMBER 17, 2023

The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through to the owners’ personal income tax returns, thereby avoiding double taxation. We assist in business tax compliance, preparation, planning and representation.

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Snyder

JUNE 9, 2022

Read about what income tax filing method to choose, where to get the latest tax information, how to keep up with deadlines, and more. What is income tax? How does income tax work? Who has to file income tax? Types of income taxes. State income taxes. Business income taxes.

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Withum

MAY 19, 2022

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allowed taxpayers to defer the employer’s share of Social Security taxes and certain self-employment taxes, which for most employers were reported on Form 941 ( Employer’s Quarterly Federal Tax Return ). Business Tax Services. Contact Us.

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CPA Practice

FEBRUARY 28, 2023

16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns. For information on disaster recovery, visit DisasterAssistance.gov.

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Withum

FEBRUARY 6, 2023

Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns. Quality of Tax Data ; general improvements to enhance the reliability of information and timeliness of closing out accounting periods.

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Snyder

OCTOBER 30, 2022

Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. Read till the end to find a helpful table with all important 2023 Tax Deadlines for the Tax Year 2022! How much do small businesses pay in taxes?

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xendoo

FEBRUARY 23, 2022

Complicated tax situations like inheritance, small business taxes , or other big life changes usually warrant bringing in a certified public accountant or CPA. . How Much Time Does it Take an Accountant to Prepare Taxes? More complex returns will incur higher fees. How Much Time Do You Spend Preparing Your Return?

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Withum

FEBRUARY 27, 2023

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. 16 deadline also applies to 2023 estimated tax payments, normally due on April 18, June 15 and Sept.

California 119

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CPA Practice

DECEMBER 19, 2023

The IRS urges taxpayers who are unable to pay their full balance due to visit IRS.gov/payments to make arrangements to resolve their tax debts. The IRS is also waiving the failure-to-pay penalties for eligible taxpayers affected by this situation for tax years 2020 and 2021. The IRS estimates 5 million tax returns—filed by 4.7

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Snyder

FEBRUARY 7, 2023

In this article, you’ll learn what tax deductions are, which expenses are deductible, and how to minimize the risks of the IRS tax audit. What exactly are tax deductions? How to claim small business tax deductions 2. 12 tax deductions that apply to small businesses 3. What is a 100% tax deduction?

business tax 98

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Withum

MARCH 7, 2024

We are now seeing the IRS issue standardized information and document requests (IDRs) from a centralized office in Austin, Texas. Should I File a Protective Income Tax Refund Claim? To prevent this, taxpayers can file a protective income tax refund claim. Has the IRS Ramped up the Number of ERC Audits?

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Tax income tax tax return audit 126

CPA Practice

OCTOBER 16, 2023

24, 2024, to file various individual and business tax returns. Taxpayers potentially affected by recent storms should visit the disaster relief page on IRS.gov for the latest information. They typically have 180 days after they leave the combat zone to file returns and pay any taxes due.

South Carolina 111

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xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

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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. 2024 quarterly estimated income tax payments normally due on Jan.

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MyIRSRelief

JUNE 23, 2023

Let’s explore some of the key areas where their expertise shines: a) Tax Preparation: Enrolled Agents possess an in-depth understanding of tax laws and regulations. b) Tax Planning: Enrolled Agents provide strategic tax planning advice to minimize tax liability and optimize financial outcomes.

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