CPA Practice

JANUARY 31, 2022

The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers. By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way federal holidays do.

tax return 75

tax return Tax Washington 75

Withum

MARCH 7, 2022

The Washington State Superior Court on March 1, 2022 overturned a new law enacted last year to tax capital assets. The capital gains tax took effect on January 1, 2022. The Washington State’s Capital Gains Tax imposed a single tax rate of 7% would apply to all levels of such income that exceed the standard deduction of $250,000.

Washington 75

Washington Tax income tax tax return 75

CPA Practice

OCTOBER 7, 2024

4—Federal officials have announced tax relief for people and businesses in the Yakama Nation affected by summer wildfires that began June 22. 3, 2025, to file various federal individual and business tax returns and make tax payments, according to a news release from the IRS. (TNS) Oct. Taxpayers now have until Feb.

Washington 97

Washington Tax tax return payroll 97

CPA Practice

JANUARY 12, 2023

The IRS said it is expecting more than 168 million individual tax returns to be filed this year, with the majority of those returns coming before the April 18 tax deadline. The IRS is urging taxpayers to have all the information they need before they file a tax return. 16, to file.

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tax return income tax Tax Washington 133

TaxConnex

DECEMBER 23, 2021

12% of respondents say they’re likely to have to outsource management of sales tax audits next year. The Sales Tax Institute reports that Maine, Illinois, California, Massachusetts, Wisconsin and Washington have been the most aggressive states in sending notices and audit requests. Get to work on this first and fast.

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audit Sales Tax auditor 244

TaxConnex

JULY 15, 2021

percent sales tax created three years ago to address a budget crisis, has been sent to the governor for executive approval. Maryland is offering a vendor credit of up to $3,000 on sales tax returns for the months of March, April and May 2021. The state’s HB 514 , which would indefinitely extend a 0.45

Sales 219

Sales Tax Louisiana North Carolina 219

TaxConnex

MAY 30, 2023

Trailing nexus is when a state makes you maintain your sales tax permit and comply with sales and use tax laws after you no longer meet the requirements for nexus with the state. The seller must file appropriate use tax returns for the remainder of the month of February and the next succeeding 11 months."

Sales 130

Sales Michigan Tax Wisconsin 130

CPA Practice

OCTOBER 3, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Since receiving funding from the Inflation Reduction Act, the IRS has ramped up tax enforcement for millionaires, but data show the agency has yet to crack down on a separate set of wealthy non-filers. Wealthy tax cheats owe $65.7 billion in unpaid taxes.

Tax 114

Tax tax return income tax Washington 114

CPA Practice

FEBRUARY 2, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan.

Rhode Island 113

Rhode Island Tax income tax tax return 113

ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. Does every corporation file income tax returns?

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tax return corporation tax income tax Tax 59

TaxConnex

JANUARY 26, 2023

The Division of Tax Appeals found that the individual had the authority to sign checks and prepare tax returns on behalf of the LLC and that his primary duties were listed as tax manager or general manager. The law firm asserted that it didn’t have nexus with the state and requested a waiver of penalties and interest.

Sales 130

Sales Tax Arkansas Missouri 130

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. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

APRIL 5, 2024

(TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. The Department of Justice filed a civil complaint in Eastern Washington District U.S.

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tax return Tax tax preparation income tax 103

TaxConnex

AUGUST 22, 2024

The state of Washington is inching toward instituting a retail delivery fee. Analysis reveals that a fee in Washington of 30 cents per order could generate between $45 and $112 million in revenues in 2026, growing to between $59 and $160 million by 2030,” reads a recent report by the Washington State Joint Transportation Committee.

Sales 147

Sales Tennessee Illinois Tax 147

CPA Practice

SEPTEMBER 22, 2023

The EITC, in particular, is claimed on many federal income tax returns. The credit, designed to benefit workers with lower incomes, can lower tax liability for eligible households or result in a cash-back refund. The IRS says it doesn’t have information about taxpayer race when it identifies tax returns for audit.

audit 119

audit income tax tax return Tax 119

CPA Practice

JUNE 29, 2023

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file.

income tax 111

income tax Mississippi tax return Arkansas 111

CPA Practice

OCTOBER 3, 2023

Unless something changes legislatively (some groups are asking Congress for 1099-K relief for casual online sellers), the $600 rule will apply for the 2023 tax year (i.e., federal income tax returns that are normally filed in April 2024). Will you have to pay taxes on your ticket sales?

income tax 122

income tax tax return Kansas Tax 122

CPA Practice

JULY 5, 2023

Note: Some legitimate unclaimed tax refunds are available at the IRS if you didn’t file a federal income tax return in 2019. Unclaimed tax refunds totaling about $1.5 billion remain unclaimed at the IRS because millions of taxpayers haven’t filed their tax returns for the 2019 tax year.

Tax 119

Tax tax return income tax Washington 119

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. Updated: April 8, 2023: 7:41 pm ET. where the IRS is headquartered.

income tax 115

income tax Tax tax return Massachusetts 115

Snyder

JUNE 9, 2022

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

MAY 8, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Given the economy, many people are looking to save money where they can. Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year.

New York 125

New York California North Carolina South Carolina 125

CPA Practice

JULY 3, 2023

The IRS has made significant progress processing its backlog of most tax returns and has cut telephone hold times, according to the Taxpayer Advocate Service (TAS). Despite these improvements, the IRS is still behind in processing amended tax returns and taxpayer correspondence,” Taxpayer Advocate Erin M.

tax return 108

tax return Washington Tax California 108

CPA Practice

OCTOBER 4, 2024

State and eligibility expansion For the 2025 tax filing season, eligible taxpayers in 24 states will be able to use Direct File: 12 states that were part of the pilot last year, plus 12 new states where Direct File will be available in the upcoming filing season. Direct File will begin accepting tax returns when the filing season opens.

Alaska 126

Alaska South Dakota North Carolina tax return 126

CPA Practice

AUGUST 14, 2023

When your account is locked by the IRS because you’ve been marked deceased, you can’t file tax returns or receive tax refunds. A CP01H notice is a letter issued by the IRS when the agency receives a tax return that contains a Social Security number (SSN) for a locked account. What is a CP01H notice?

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tax return Maine Tax Washington 98

Withum

JANUARY 17, 2022

This program will identify areas of confusion and show ways to unconfuse them, show 12 ways to make your tax return simpler while reducing your preparation costs, make claims for unclaimed funds that you likely have, and how to know if you’ve won your individual lottery and act accordingly.

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CPA Practice

JUNE 9, 2023

Taylor, Kiplinger Consumer News Service (TNS) IRS notices were recently sent to many California taxpayers indicating that balances due on their 2022 federal tax returns had to be paid in 21 days. The IRS clarified Thursday, in a Tweet , that a tax deadline extension applies in most of California. By Kelley R.

California 98

California tax return Tax Washington 98

CPA Practice

AUGUST 21, 2023

They are taxed on their income but can’t write off most of their business expenses. Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. All contents copyright 2023 The Kiplinger Washington Editors Inc.

income tax 98

income tax Tax tax return Oregon 98

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. That sort of virtual hand-holding is similar to what you’d get by using commercial tax preparation software.

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CPA Practice

OCTOBER 18, 2024

The Greater Washington Society of CPAs (GWSCPA) recently announced its list of board members and nominations for the 2024/2025 year. He currently serves as Chair of the Greater Washington Society of CPAs Nonprofit Academy Committee and Co-Chair of the Greater Washington Society of CPAs Employee Benefit Plan Conference Committee.

CPA 110

CPA Non-Profits cpas Washington 110

TaxConnex

SEPTEMBER 7, 2023

Washington State gives no blanket exemption to nonprofits. Minnesota exempts non-profits from collecting sales tax when the sales are for fundraising. During a sales tax audit, one of the first requests from the auditor will be for copies of all exemption certificates for any exemptions claimed on sales tax returns.

Sales 147

Sales Tax Non-Profits North Carolina 147

CPA Practice

APRIL 26, 2024

Stats the agency released today about Direct File’s results, user feedback, and costs include: 140,803 taxpayers in the 12 states involved in the pilot program—Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming—filed their federal tax returns through the new service.

South Dakota 110

South Dakota Tax New Hampshire Wyoming 110

MyIRSRelief

AUGUST 2, 2024

They must withhold federal income tax, Social Security, and Medicare taxes from employees’ wages and pay the employer’s share of these taxes. Additionally, businesses must file employment tax returns and make timely deposits. Ensure that your tax returns accurately reflect these limitations.

audit 130

audit Tax Nevada Colorado 130

CPA Practice

JANUARY 30, 2023

Most individual taxpayers won’t have such issues for this tax season. For clarification, the weeks leading up to the April 18, 2023 , deadline is when Americans file tax returns for income they received during the 2022 calendar year, or they can file an automatic extension, which gives them an additional six months to file.

income tax 105

income tax Tax tax return Massachusetts 105

CPA Practice

OCTOBER 2, 2023

Unless something changes legislatively (some groups are asking Congress for 1099-K relief for casual online sellers), the $600 rule will apply for the 2023 tax year (i.e., federal income tax returns that are normally filed in April 2024). Will you have to pay taxes on your ticket sales?

income tax 103

income tax tax return Kansas Tax 103

CPA Practice

APRIL 9, 2024

Compliance and Reporting Ensuring compliance with payroll tax regulations involves timely and accurate reporting to various tax authorities. As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Filing tax returns and remitting payments on time.

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TaxConnex

OCTOBER 4, 2022

Your compliance process should start with identifying sales tax nexus and determining taxability of your products and services in those states where you have sales tax nexus. You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns.

Sales 130

Sales Tax tax return Colorado 130

PYMNTS

FEBRUARY 26, 2020

Software developer and Ukrainian native Volodymyr Kvashuk, 25, from Renton, Washington, worked for Microsoft from 2016 to 2018, and was tasked with testing Microsoft’s online retail sales platform. On fake tax returns, he said the bitcoin was gifted to him from a relative. million in bitcoin.

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tax return Washington accounting and finance payroll 82