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. You may have come across a situation that’s puzzling.

tax return 213

tax return Tax income tax CPA 213

CPA Practice

MARCH 1, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Benjamin Franklin coined the famous saying that “in this world, nothing is certain but death and taxes.” But what about when death and taxes coincide, such as when someone dies during the year and has a tax filing obligation? 31, 2022, you can file a joint 2022 return.

income tax 122

income tax tax return Tax tax preparation 122

RogerRossmeisl

APRIL 21, 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. See June 15. (See

Tax 246

Tax income tax tax return CPA 246

inDinero Tax Tips

OCTOBER 22, 2024

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate.

Nevada 105

Nevada Tax income tax payroll tax 105

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 255

Tax income tax tax return CPA 255

RogerRossmeisl

APRIL 24, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.

Tax 239

Tax income tax tax return CPA 239

MyIRSRelief

OCTOBER 11, 2024

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

tax services 130

tax services payroll tax Tax tax preparation 130

CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov.

tax preparation 97

tax preparation Georgia tax return Tax 97

RogerRossmeisl

OCTOBER 6, 2021

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in federally declared disaster areas.

Tax 246

Tax income tax tax return CPA 246

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.

Tax 213

Tax income tax tax return CPA 213

RogerRossmeisl

NOVEMBER 27, 2020

If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax responsibilities of COVID-closed businesses that must be met. Of course, a business must file a final income tax return and some other related forms for the year it closes. Partnerships.

Tax 246

Tax income tax tax return CPA 246

RogerRossmeisl

APRIL 17, 2024

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 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.

income tax 196

income tax Tax tax return CPA 196

RogerRossmeisl

AUGUST 21, 2022

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

Tax 245

Tax income tax tax return CPA 245

RogerRossmeisl

DECEMBER 8, 2022

If you’ve decided to close your business, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met. For example, a business must file a final income tax return and some other related forms for the year it closes. Here’s a rundown of the basic requirements.

Tax 246

Tax income tax tax return CPA 246

CPA Practice

FEBRUARY 20, 2025

To avoid mistakes and potential processing delays, taxpayers should refrain from filing until they have received all necessarytax documents. Taxpayers should always carefully review documents for inaccuracies or missing information.

income tax 129

income tax tax return Tax 129

CPA Practice

OCTOBER 23, 2024

With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). IP PIN users should share their number only with the IRS and their tax preparation provider.

tax return 105

tax return Tax online accounting tax preparation 105

RogerRossmeisl

MARCH 18, 2024

We are finding that, all too often, taxpayers that make Employee Retention Tax Credit (ERTC) claims by engaging a so-called “ERTC Mill” are never told of their responsibility to amend their applicable prior year federal income tax return(s), and are shocked to learn that they owe additional taxes, penalties and interest.

Tax 200

Tax income tax tax return CPA 200

TaxConnex

APRIL 20, 2021

This time of year, everybody’s mind is on income tax preparation. The fact is, when it comes to many companies’ federal and state income tax returns, they don’t rely on an automated income tax return. Why should sales tax be any different? Managing a tax calendar.

Sales 214

Sales Tax tax return income tax 214

MyIRSRelief

OCTOBER 4, 2024

Filing taxes can be a daunting task, whether you are an individual or a business owner. This article will guide you through the process of correcting errors on your tax return, provide instructions on filing amended returns , highlight common mistakes to avoid, and explain how our tax firm can professionally assist you.

tax return 130

tax return business tax Tax income tax 130

CPA Practice

OCTOBER 29, 2024

A new pass-through field operations unit announced in fall 2023 has officially started work in the IRS’s Large Business and International (LB&I) division to more efficiently conduct audits of pass-through entities, the tax agency said on Oct. Pass-throughs are frequently used by higher-income groups and can be complex tax arrangements.

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income tax audit tax return Real Estate 115

TaxConnex

MARCH 31, 2022

One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. Use tax or sales tax is due on a sale, but not both. Your ‘choice’.

Alabama 246

Alabama Tax Washington California 246

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

FEBRUARY 18, 2024

The IRS announced it opened the 2024 income tax return filing season on January 29. That’s when the tax agency began accepting and processing 2023 tax year returns. Here are answers to seven tax season questions we receive at this time of year. (1) 2) When is my return due if I request an extension?

Tax 202

Tax Massachusetts income tax tax return 202

TaxConnex

FEBRUARY 15, 2022

A ccording to TaxConnex’s recent market survey of 100 top finance professionals, this could be the year to outsource sales tax. Three of these execs’ biggest in-house deficiencies to managing sales tax in 2022: bandwidth, internal knowledge and the right partner or solution. Seems like something needs to change. That’s a tall order.

Sales 264

Sales Tax income tax tax return 264

CTP

JANUARY 17, 2025

One of the many roles we play as tax planners is as the taxpayers audit support system. We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. The taxpayer claimed a tax credit that has resulted in a lot of fraud.

audit 96

audit Tax auditor tax return 96

RogerRossmeisl

OCTOBER 23, 2022

But tax-related identity theft can be particularly disturbing because it involves the IRS, about which many people already harbor suspicion and anxiety. Although the IRS has taken significant steps in recent years to help minimize the occurrence of tax-related identity theft, this type of fraud continues to occur.

Tax 188

Tax tax return income tax CPA 188

Bharmal&Associates

AUGUST 28, 2020

Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect treatment as a single member LLC for federal income tax purposes. Single-Member LLC Tax Basics. You don’t need to file a separate federal income tax return for the single-member LLC.

income tax 242

income tax tax return Legal Tax 242

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

TaxConnex

APRIL 7, 2022

Federal Income Tax Day, April 18 th , looms large in everybody’s mind right now. Too bad sales tax doesn’t come with a deadline that simple. State sales tax filing obligations come in a dizzying number of deadlines for you to follow (potentially with bad consequences if you don’t). A regular schedule – unless it’s not.

Sales 246

Sales Tax Texas income tax 246

RogerRossmeisl

APRIL 21, 2022

Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such as IRAs or other retirement plans. Fortunately, there may be ways to minimize or even eliminate the IRD tax bite. What’s IRD?

income tax 246

income tax tax return CPA Tax 246

RogerRossmeisl

MAY 15, 2023

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. of your adjusted gross income. of your adjusted gross income.

income tax 246

income tax tax return CPA Tax 246

RogerRossmeisl

FEBRUARY 21, 2022

But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? The requirements To prove a charitable donation for which you claim a tax deduction, you need to comply with IRS substantiation requirements. It depends.

income tax 243

income tax tax return CPA Tax 243

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

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

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

Accounting Today

APRIL 30, 2024

The number of individual income tax returns received rose by 16.34% in the final week of tax season.

Tax 143

Tax income tax tax return 143

Withum

APRIL 3, 2024

Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Can still be deducted in the 2023 tax years if the return is not filed… Who Are the Ideal Candidates?

income tax 98

income tax Tax tax return 98