Withum

FEBRUARY 16, 2023

Most state income tax systems fall into two categories: progressive tax and flat tax. Massachusetts touts a “flat tax” system. It is equitable, doesn’t punish high-income earners, and everyone is left with the same percentage of after-tax earnings to spend, right? Good News or Bad News?

Massachusetts 75

Massachusetts income tax Tax tax return 75

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

TaxConnex

AUGUST 1, 2023

You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? And the state or local sales tax you also charged on the purchase?

Sales 130

Sales Rhode Island Tax Michigan 130

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

MARCH 26, 2024

By Alvin Buyinza, masslive.com (TNS) Nearly 940,000 Americans have unclaimed tax returns from 2020 and face a May 17 deadline if they want to get it back, the IRS announced on Monday. In Massachusetts, where 21,800 residents may be owed a refund for 2020, the median refund is about $975. ©2024 Advance Local Media LLC.

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tax return Tax Massachusetts 122

Withum

JULY 25, 2022

Investors funding early-stage life sciences companies in Massachusetts may be eligible for generous tax incentives under M.G.L. Learn about the Angel Investor Tax Credit and who qualifies, potential tax savings, and how to monetize those savings. What Are the Tax Savings? How Do I Monetize the Tax Savings?

Massachusetts 69

Massachusetts Tax Real Estate tax return 69

CPA Practice

OCTOBER 27, 2023

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. E-filing is the most secure, accurate method to file returns, and saves time. Scan and attach Form 8453-EMP, Employment Tax Declaration for an IRS e-file Return , for the required signature.

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CPA Practice

APRIL 18, 2024

By Flint McColgan, Boston Herald (TNS) A Boston IRS agent was indicted on charges that she committed personal tax fraud for years. Around the same time, she was allegedly filing tax returns that claimed heavy losses from an import or export business she claimed to have.

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Tax tax return Massachusetts audit 96

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. What is income tax?

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income tax tax return Tax E-commerce 52

CPA Practice

FEBRUARY 1, 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.

Tax 111

Tax tax return income tax Massachusetts 111

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.

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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

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.

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tax return Tax income tax tax preparation 116

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

MARCH 27, 2024

By Dave Eisenstadter, masslive.com (TNS) With this year’s tax filing deadline approaching, IRS reporting continues to show millions fewer refunds this year compared with last year. Records obtained from the IRS show that this year’s tax season is on track to have the fewest refunds in at least 15 years.

Tax 119

Tax Massachusetts tax return Maine 119

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. Legal marijuana businesses are an enforcement priority of the IRS.

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income tax Tax tax return Oregon 98

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.

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income tax tax return Tax Massachusetts 115

TaxConnex

DECEMBER 10, 2020

States may be getting tougher on sales tax delinquents as the pandemic drags on and tax revenues, in many places, take hits. area company must pay back more than $95,000 after pocketing sales tax money owed to the state, according to authorities. TaxConnex provides services to become your outsourced sales tax department.

Sales 240

Sales Tax Ohio Nebraska 240

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

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. People face a July 17 deadline to file their returns.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. What if you do get caught?

audit 244

audit Sales Tax auditor 244

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. T he Tax Deadline is April 18, 2023?

income tax 115

income tax Tax tax return Massachusetts 115

BuildYourFirm

MARCH 31, 2020

Episode 066: Look at the Film Industry Tax Credit Business with Irene Waschler. Tune in to this episode when host Hugh Duffy talks with Irene Waschler of Waschler CPA, LLC about how she got started in the film industry tax credit business. Guest Bio: Irene Waschler CPA, Certified Tax Coach. Irene graduated with a B.S.

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Tax cpas Massachusetts CPA 178

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

CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start 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). In fact, for more than 10 years, the top question we receive has been: “ When will I get my tax refund? ”

Tax 98

Tax tax return income tax Massachusetts 98

CPA Practice

MARCH 21, 2024

Property tax compliance can be just as puzzling, and getting it right in some states can be more complex than in others. This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. This helps explain why many companies find property tax compliance time-consuming.

Rhode Island 119

Rhode Island Arizona Tax South Carolina 119

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

APRIL 7, 2023

Taxpayers who are unable to file their tax return by this year’s April 18 deadline have an easy, online option to get more time to complete their return. However, taxpayers should be aware that: An extension to file their return does not grant them an extension to pay their taxes. percent per month.

Tax 98

Tax tax return Massachusetts Maine 98

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. T he Tax Deadline is April 18, 2023? The IRS Started Accepting Returns on Jan.

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

APRIL 26, 2024

With the 2024 filing season in the rearview mirror, the IRS provided an update Friday on how well its Direct File pilot program fared this year but said little about what the future holds for its prized tax-filing service. More than 5,000 accepted returns were processed each day during the final week of filing season.

South Dakota 110

South Dakota Tax New Hampshire Wyoming 110

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

APRIL 11, 2024

By Jean Ross, InsideSources.com (TNS) If there’s one thing we should be able to agree upon, it’s that everyone should pay the taxes they owe without having to pay for the privilege of doing so. This year, for the first time, residents of 12 states who file simple tax returns can file online for free using the IRS’s new Direct File portal.

Tax 52

Tax tax return income tax Arizona 52

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

NOVEMBER 20, 2023

It’s almost December, 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 to file returns being April 15 (which can vary based on weekends or state holidays).

Tax 52

Tax income tax tax return Massachusetts 52

Withum

OCTOBER 17, 2024

In a letter to the French scientist Jean-Baptiste Leroy in 1789, Benjamin Franklin wrote, “Our new Constitution is now established and has an appearance that promises permanency, but in this world, nothing can be said to be certain, except death and taxes.” Still, the fact remains the only certainties we have are death and taxes.

Tax 52

Tax tax planning Real Estate Non-Profits 52

CPA Practice

JANUARY 29, 2024

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. It’s also the first service from the agency itself that guides you through the process of filling out your return. There’s a catch, however.

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Withum

MARCH 22, 2024

Most people are aware that we are in tax filing season with individual returns due April 15th (or April 17th for those living in Maine and Massachusetts). CPAs, EAs, and professional tax preparers see many clients this time of year and they are obviously busy with this work. And do not forget to file your return on time.

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tax preparation Tax cpas Massachusetts 59