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IRS Says State Issued Stimulus Payments are Not Taxable

CPA Practice

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief.

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IRS Expands Free File to 24 States

CPA Practice

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. It guides taxpayers through a series of questions to prepare their federal tax return step-by-step.

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$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

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?

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Webinar: Tax Firm Innovation: Assessing and Enhancing Your Current Processes

CPA Practice

A proud Army veteran, Steven is based in Meridian, Idaho, and continues to drive innovation and excellence in his field, delivering exceptional results for his company and clients. Steven’s dedication to his work and his team have earned him the respect of his colleagues and peers.

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Are Your Clients Compliant with Tangible Personal Property Taxes?

CPA Practice

There are a few other differences you should know : Real estate property does not necessitate filing a tax return; an assessor estimates the value of your property and sends you a notice detailing the valuation and taxable amounts. When it’s time to pay, you’ll receive a real property tax bill in the mail.

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Webinar: Tax Firm Innovation: Assessing and Enhancing Your Current Processes

CPA Practice

A proud Army veteran, Steven is based in Meridian, Idaho, and continues to drive innovation and excellence in his field, delivering exceptional results for his company and clients. Steven’s dedication to his work and his team have earned him the respect of his colleagues and peers.

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What's new in July for state sales and use taxes

TaxConnex

95 , beginning July 1, 2023, local tax collectors have to provide notice of their intent to audit that also “advise[s] the taxpayer that the taxpayer may request a multi-parish audit.”. Several states tinkered with their sales tax exemptions this summer. Among them, alphabetically: Idaho will exempt qualified?semiconductor

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