CPA Practice

AUGUST 30, 2024

29—FARMINGTON — An accountant pleaded guilty in Bridgeport Thursday to filing fraudulent tax returns for multiple years after failing to report $1.4 million in income, federal officials said. Legowski prepared tax returns for between 400 and 500 individual clients, 50-60 businesses, the U.S.

Connecticut 95

Connecticut tax return Tax income tax 95

FraudFiles

OCTOBER 3, 2024

One of the most common documents utilized in a financial investigation is the income tax return. It’s a key document in any divorce case, so the personal income tax return is always examined. And if there is a business, the tax return for that entity should be examined too.

tax return 52

tax return Tax income tax 52

DMCL

MARCH 11, 2022

Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported.

income tax 52

income tax tax return Tax 52

CPA Practice

APRIL 11, 2024

The Justice Department is advising taxpayers to choose their return preparers wisely as the April 15 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

tax return 116

tax return Tax tax preparation Florida 116

RogerRossmeisl

JANUARY 19, 2022

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. Business returns are already being accepted.) You can potentially protect yourself from tax identity theft — and there may be other benefits, too.

tax return 181

tax return Tax income tax CPA 181

CPA Practice

FEBRUARY 28, 2024

The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund.

income tax 115

income tax tax return Tax Massachusetts 115

Withum

APRIL 3, 2024

Feasibility is based heavily on the company’s census The plan must meet ERISA non-discrimination rules, but tax savings may be sufficient to offset employee participation costs during the accumulation phase Income from the plan will eventually be taxed, but earnings will compound income tax free until distributed What Are the Next Steps?

income tax 98

income tax Tax tax return 98

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 Tax E-commerce 52

Withum

OCTOBER 10, 2024

Feasibility is based heavily on the company’s census The plan must meet ERISA non-discrimination rules, but tax savings may be sufficient to offset employee participation costs during the accumulation phase Income from the plan will eventually be taxed, but earnings will compound income tax free until distributed What Are the Next Steps?

income tax 52

income tax Tax tax return 52

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

RogerRossmeisl

OCTOBER 20, 2024

You may think you can deduct that loss on your personal federal income tax return with no questions asked. The IRS often claims that money-losing sidelines are hobbies rather than businesses — and the federal income tax rules for hobbies aren’t in your favor. Not so fast!

income tax 214

income tax tax return CPA Tax 214

Cherry Bekaert

MAY 16, 2023

S corporations are corporations that elect to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed at their individual income tax rates.

income tax 88

income tax Tax tax return Connecticut 88

RogerRossmeisl

JANUARY 26, 2022

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1 Contact us soon for an appointment to prepare your tax return. Tip 2 Gather all documents needed to prepare an accurate return.

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tax return Tax CPA income tax 158

FraudFiles

MAY 20, 2024

Income tax returns and supporting information such as W-2s and pay stubs are the most common and basic documents which evidence income in family law cases.

tax return 52

tax return Tax income tax 52

Cherry Bekaert

JULY 14, 2023

More and more states treat software-as-a-service (SaaS) or platform-as-a-service (PaaS), hosting services and other data-processing services as taxable services and subject to sales tax, which shouldn’t be ignored. However, state income tax issues for PTEs generally receive less attention in the technology industry.

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income tax Technology Tax South Dakota 97

TaxConnex

JULY 18, 2024

These certificates validate the tax-exempt status of certain sales and are vital during an audit. Bad Debt Most states allow a deduction for bad debts written off for Federal income tax purposes. Miscellaneous Adjustments Any adjustments taken on your tax return should have supporting documentation.

audit 247

audit Sales Tax tax return 247

Accounting Today

SEPTEMBER 28, 2023

Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.

tax return 132

tax return Tax income tax 132

FraudFiles

DECEMBER 11, 2023

Income tax returns are an important piece of financial information in a divorce or child support case. There is so much information that can be obtained from the tax returns, and if we have several years of data, we can make comparisons from year-to-year. In the video below, Tracy talks …

tax return 52

tax return Tax income tax 52

FraudFiles

AUGUST 28, 2024

While consumers generally hate income tax returns because of their complexity, they can be invaluable sources of information in divorce proceedings. Not only do they provide insight into prior years’ earnings, they can also point to assets and sources of income.

tax return 52

tax return Tax income tax 52

RogerRossmeisl

JUNE 5, 2022

In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. It’s due to the way partnerships and partners are taxed. Unlike C corporations, partnerships aren’t subject to income tax. Why does this happen?

tax return 144

tax return Tax income tax CPA 144

CPA Practice

MARCH 29, 2024

The previous federal tax relief, announced shortly after the fires, mainly lasted through Feb. 15 , which did not cover federal income tax filings for tax year 2023. In general, the new extension “means that affected individuals, businesses and tax-­exempt organizations will now have until Aug. 15, 2023, and Jan.

Hawaii 59

Hawaii income tax Tax tax return 59

Going Concern

JANUARY 10, 2024

Today in clients behaving badly, the DoJ announced Friday that Las Vegas restaurateur Raul Gil, who owns and operates three Casa Don Juan restaurants in the city, is headed to prison for 37 months for evading his federal income taxes.

tax return 65

tax return Tax Nevada income tax 65

MyIRSRelief

NOVEMBER 1, 2024

The main advantage of an S Corporation is that it allows income, losses, deductions, and credits to pass through to shareholders for federal tax purposes. This means that the business itself is not taxed at the corporate level. This means that the corporation’s income is not subject to corporate tax rates.

tax preparation 130

tax preparation tax planning corporation tax Tax 130

CPA Practice

OCTOBER 17, 2023

According to the IRS, Arizona, California, Massachusetts, and New York have decided to work with the agency to integrate their state taxes into the Direct File pilot program for the 2024 filing season. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

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tax return Tax South Dakota tax preparation 116

CPA Practice

FEBRUARY 24, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 130

tax return Tax income tax 130

ThomsonReuters

APRIL 1, 2021

In response to the continuing COVID-19 emergency, the IRS has offered deadline relief for 2020 federal income tax returns that also extends the deadline for 2020 contributions to HSAs, IRAs, and certain other accounts. Tax Refunds and Credits. Tax Return Preparers. Here are highlights: Form 1040 Series.

income tax 52

income tax tax return Tax Education 52

CPA Practice

APRIL 24, 2023

The IRS also notes that taxpayers who are owed a refund won’t be penalized or fined for filing late, but people shouldn’t overlook filing a tax return when they are due a refund… unless you really want to basically donate that money (your money) to the IRS. 16 to prepare and file 2022 tax returns electronically.

income tax 97

income tax tax return Tax online accounting 97

Dent Moses

JULY 19, 2022

Beginning in 2018, the Tax Cuts and Jobs Act placed a $10,000 cap on the state and local tax (“SALT”) deduction for individuals who itemize deductions. In the years since 2018, many taxpayers have exceeded the cap and have paid large amounts of state income taxes that weren’t deductible for Federal purposes.

Alabama 98

Alabama income tax Tax tax return 98

FraudFiles

JULY 5, 2023

When one or both spouses have an ownership interest in a business, it is critical to get both income tax returns and financial statements for the entity. It is impossible to fairly evaluate the business and the income from it without both of these. Many times we meet resistance from …

tax return 52

tax return business tax Tax income tax 52

RogerRossmeisl

APRIL 17, 2024

April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations, pay the first installment of 2024 estimated income taxes. Complete and retain Form 1120-W (worksheet) for your records.

Tax 140

Tax income tax tax return CPA 140

Withum

MARCH 1, 2023

Most people that prepare their own returns need someone to review it for errors or omissions. Tax Comparison Schedule When your tax return is completed, you should review the tax comparison schedule your software provides for differences. This process should also include state and local income taxes.

tax return 59

tax return Tax income tax Real Estate 59

RogerRossmeisl

AUGUST 5, 2024

If this is your situation, we can help you, including taking care of various tax responsibilities. To start with, a business must file a final federal income tax return and some other related forms for the year it closes its doors. The type of return that must be filed depends on the type of business you have.

Tax 182

Tax income tax tax return CPA 182

Accounting Today

OCTOBER 31, 2024

The number of taxpayers filing individual income tax returns is projected to increase by about 10,000,000 over the next eight years.

income tax 97

income tax tax return Tax 97

RogerRossmeisl

APRIL 17, 2024

Some people mistakenly believe that Social Security benefits are always free from federal income tax. In fact, depending on how much overall income you have, up to 85% of your benefits could be hit with federal income tax. Unfortunately, that’s often not the case. Here are the rules.

Tax 166

Tax income tax tax return CPA 166

CPA Practice

JULY 30, 2024

TIGTA recommended that the IRS ensure that any unfiled tax returns have been secured or the instances of unpaid balances due for IRS and contractor employees identified in this report have been resolved and include in the Internal Revenue Manual the policies, procedures, and standards for the § 1203 Review Board.

income tax 116

income tax Tax tax return 116

KROST

JULY 19, 2022

Foreign nationals in the US: Do you have a federal income tax filing obligation? Now that you moved to the US, whether on a temporary basis or permanent, you may need to consider whether you have a US income tax return filing requirement and pay taxes in the US.

income tax 70

income tax Tax tax return 70

Anders CPA

FEBRUARY 27, 2024

Key Takeaways: To file a deceased person’s tax return, you will need to file Form 1040. Begin the process by obtaining the necessary tax forms. Calculating the individual’s income and deductions and completing the tax return are the next steps.

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tax return Tax Legal income tax 52