Withum

FEBRUARY 16, 2023

Most state income tax systems fall into two categories: progressive tax and flat tax. Massachusetts touts a “flat tax” system. Everyone pays the same percentage of their income. Not exactly the best example of a “flat tax” system, right? What does this mean for Massachusetts Taxpayers?

Massachusetts 75

Massachusetts income tax Tax tax return 75

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. million individual tax returns to be filed by the April 15, 2024, tax deadline. Although the IRS will not officially begin accepting and processing tax returns until Jan. The agency expects more than 128.7

Tax 133

Tax tax return income tax Massachusetts 133

CPA Practice

AUGUST 29, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The most expensive states for millionaires tax high earners at high rates. And if you fall into the top federal income tax bracket , the IRS will tax some of your earnings at the 37% rate.) The top income tax rate is 11%. 9% or higher).

income tax 98

income tax Tax New Jersey Washington 98

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

JUNE 21, 2024

A Florida man pleaded guilty yesterday to evading taxes on income he earned from commercial fishing in Massachusetts. Despite earning substantial income working as a fisherman, Garraty did not file until 2012 any federal income tax returns for tax years 2002 through 2011. A federal judge for the U.S.

Florida 98

Florida Rhode Island Massachusetts Tax 98

CPA Practice

MARCH 21, 2024

By Dave Eisenstadter, masslive.com (TNS) A 17-year veteran of the IRS was arrested on Wednesday and charged with filing false personal tax returns for three years and underreporting about $90,000 worth of income, according to Acting U.S. Attorney Joshua Levy’s office. Attorney’s office said. Attorney’s office wrote.

tax return 98

tax return Massachusetts Tax income tax 98

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

South Dakota 124

South Dakota Maryland Tax income tax 124

MyIRSRelief

AUGUST 2, 2024

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Get professional tax help by calling our tax firm at 1-877-788-2937. Recordkeeping Good recordkeeping is essential for tax compliance.

audit 130

audit Tax Nevada Colorado 130

CPA Practice

APRIL 8, 2023

It’s almost March, and the 2023 tax filing season is well underway. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. Fortunately, most of the tax-related issues caused by the pandemic won’t affect taxpayers this season.

income tax 115

income tax Tax tax return Massachusetts 115

CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Look for more states to follow suit. _

income tax 98

income tax Tax tax return Oregon 98

TaxConnex

OCTOBER 8, 2024

But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Here are first impressions from one-and-done searches for “sales tax” on the revenue site of each state. Connecticut Dept.

Sales 113

Sales Tax Rhode Island West Virginia 113

TaxConnex

SEPTEMBER 22, 2022

There’s always something changing in the world of tax, especially sales tax. Sales tax on digital products was the subject of a white paper draft at the Multistate Tax Commission’s annual meetings in Anchorage, Alaska. Sales tax revenues continue their robust pandemic-driven rise in many states. Virtual reality.

Sales 130

Sales Tax Indiana Colorado 130

CPA Practice

FEBRUARY 1, 2024

The IRS started accepting and processing income tax returns on January 29, 2024. This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. When will I get my tax refund? ” That’s without an expensive “tax refund loan” or other similar product.

Tax 111

Tax tax return income tax Massachusetts 111

CPA Practice

JANUARY 30, 2023

Let’s talk about tax refunds… and when taxpayers might get theirs in 2023. This has been the top question we get for more than 10 years: “ When will I get my tax refund? ” Will the 2023 tax filing season be normal? These were also sometimes given as a credit on a taxpayer’s taxes, if they did not receive payment directly.

income tax 105

income tax Tax tax return Massachusetts 105

CPA Practice

JANUARY 31, 2022

Taxpayers in Maine and Massachusetts have until April 19 thanks to the Patriots’ Day holiday in. While returns are usually due April 15, this year that day falls on a Friday District of Columbia holiday, postponing the deadline to April 18 for most.

income tax 79

income tax Massachusetts Maine Tax 79

CPA Practice

AUGUST 27, 2024

Once you hit the $1 million threshold, you pay more state tax in Massachusetts. Some of these teams have no state income tax. In 2022, it was approved by Massachusetts voters that personal income taxpayers “must pay an additional 4% surtax on taxable income over $1,000,000,” according to Mass.gov.

Massachusetts 95

Massachusetts income tax Nevada Tennessee 95

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

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. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

DECEMBER 29, 2022

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Heading into the new year, state sales tax revenues were up coast to coast, often by double-digit percentages. Add that U.S. Too much or too little?

Sales 130

Sales Tax Maryland Louisiana 130

CPA Practice

NOVEMBER 22, 2023

December is here, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline being April 15 (which can vary based on weekends or state holidays). That’s without an expensive “tax refund loan” or other similar product.

Tax 98

Tax income tax tax return Massachusetts 98

CPA Practice

JANUARY 29, 2024

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. The Where’s My Refund? Paperless processing. Online Account.

tax return 116

tax return Tax income tax tax preparation 116

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

FEBRUARY 24, 2023

It’s almost March, and the 2023 tax filing season is well under way. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. Fortunately, most of the tax-related issues caused by the pandemic won’t affect taxpayers this season.

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

APRIL 15, 2024

It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season for most Americans comes to a close. Danny Werfel “Taxpayers continued to see major improvements from the IRS during the 2024 tax season,” he said. “A From the start of tax season on Jan. million calls in 2023.

Tax 119

Tax tax return Maine Massachusetts 119

ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax? How does use tax work? What is nexus?

Tax 98

Tax Massachusetts Washington South Dakota 98

CPA Practice

OCTOBER 4, 2023

Supreme Court has agreed to take up a lower court decision on taxation ( Moore v United States ) that could open or slam the door on a federal wealth tax, it’s worth a deep dive into just how terrible a wealth tax would be for American taxpayers. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

Tax 105

Tax income tax Hawaii Oklahoma 105

CPA Practice

DECEMBER 26, 2023

It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. That’s without an expensive “tax refund loan” or other similar product.

tax return 105

tax return Tax income tax Massachusetts 105

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing income tax returns on January 29, 2024. This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. That’s without an expensive “tax refund loan” or other similar product.

Tax 98

Tax tax return income tax Massachusetts 98

CPA Practice

DECEMBER 15, 2023

It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. That’s without an expensive “tax refund loan” or other similar product.

tax return 97

tax return Tax income tax Massachusetts 97

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

CPA Practice

OCTOBER 17, 2023

Thirteen states have agreed to participate in a trial run of the IRS’s free online return filing system, called Direct File, during the 2024 tax season, the agency said on Tuesday. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

tax return 116

tax return Tax South Dakota tax preparation 116

CPA Practice

DECEMBER 7, 2023

Three rounds of stimulus checks—known officially as Economic Impact Payments—were sent by the federal government to income tax filers between March 2020 and March 2021 as a way to offset some of the hardships of the COVID pandemic. “There is no fourth round of [stimulus checks] from the Treasury Department,” he said.

Montana 118

Montana Idaho New Mexico Illinois 118

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. During the pilot last year, Direct File was available in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington State and Wyoming.

Alaska 126

Alaska South Dakota North Carolina tax return 126

CPA Practice

MARCH 14, 2023

Person means a citizen or tax resident of the United States, a domestic corporation, domestic partnership, any estate other than foreign estates, U.S. The FBAR filing deadline follows the Federal income tax return filing deadlines. FBAR returns are filed separately from the taxpayer’s federal tax returns. US Person A U.S.

income tax 125

income tax tax return Tax financial accounting 125

CPA Practice

AUGUST 23, 2024

By Larry Higgs nj.com (TNS) A host of lawmakers want to give drivers who’ve been hit with four consecutive increases on New Jersey state toll roads a tax break. Specifically, they want to allow those drivers who pay toll by E-ZPass to deduct tolls from their state income tax. cent-per-gallon gas tax by a 1.9

New Jersey 102

New Jersey West Virginia income tax Transportation 102

CTP

MARCH 30, 2023

At the end of 2018, to the dismay of the IRS and the Tax Court, the Second Circuit joined the First and Sixth in reversing the Tax Court’s decision in the Summa Holdings “substance over form” matter. The father and mother lived in New York and their two sons lived in Massachusetts. The Sixth Circuit in Summa Holdings, Inc.

Ohio 98

Ohio income tax Massachusetts Tax 98