Accounting Today

APRIL 30, 2024

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

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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).

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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.

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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. Updated: Dec. 26, 2023 , 9:31 pm ET.

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CPA Practice

FEBRUARY 15, 2024

Kiplinger Consumer News Service Tax Day 2024 is April 15. That’s the day taxes are due for most taxpayers. However, each year, the IRS extends tax deadlines for taxpayers in designated areas impacted by severe storms and natural disasters. The new tax deadlines may be different for different states. 10 to Sept.

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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). That’s without an expensive “tax refund loan” or other similar product.

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CPA Practice

NOVEMBER 17, 2023

So, while you might already know about the 2023 child tax credit and other family tax breaks for the current year, here is what you can expect for the 2024 tax year ( for income tax returns normally filed in early 2025 ). How much is the 2024 child tax credit? citizen, U.S.

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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. Paper check refunds can take a little longer.

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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) 1) What are this year’s deadlines?

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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. A free, government-run, online tax-filing system for taxpayers has been talked about as a possibility for many years.

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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).

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Tax income tax tax return Massachusetts 52

CPA Practice

DECEMBER 19, 2023

The IRS urges taxpayers who are unable to pay their full balance due to visit IRS.gov/payments to make arrangements to resolve their tax debts. The IRS is also waiving the failure-to-pay penalties for eligible taxpayers affected by this situation for tax years 2020 and 2021. The IRS estimates 5 million tax returns—filed by 4.7

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Ronika Khanna CPA,CA

APRIL 19, 2024

Residents of Canada are required to reflect all sources of worldwide income on their personal tax returns. It is important, if you have investment income in non registered investments (i.e. not TFSA, RRSPs or FHSAs), to ensure that you have received all tax documents and report them.

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Also, the act addresses the use of optical character recognition (OCR) software.

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Ronika Khanna CPA,CA

DECEMBER 28, 2023

As we approach the new year, it will be time soon to start working on everyone’s favourite activity i.e. getting your tax stuff in order :). Below are the deadlines that all small businesses need to know for 2024. Download our free Canada unincorporated business tax deadline calendar for 2024 (both Federal and Quebec).

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CPA Practice

FEBRUARY 2, 2024

The disaster declaration also means that Rhode Island businesses and residents impacted by the storm have until June 17, 2024, to meet various tax filing and payment deadlines originally due between Sept 10, 2023, and June 17, 2024. 2023 quarterly estimated income tax payments normally due on Jan.

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Rhode Island Tax income tax tax return 113

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.

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Withum

MARCH 7, 2024

The VDP allow taxpayers to keep 20% of the ERC claimed, tax free, as well as the interest received, but taxpayers must apply to the program by March 22, 2024, and agree to extend the statute of limitations. Should I File a Protective Income Tax Refund Claim? Is There Legislation Pending That Would Alter the ERC?

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Tax income tax tax return audit 126

CPA Practice

FEBRUARY 29, 2024

The Internal Revenue Service has given tax relief for individuals and businesses in parts of Washington state affected by wildfires that began on Aug. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. 16, 2024, and April 15, 2024.

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Dent Moses

DECEMBER 13, 2023

The Internal Revenue Service (IRS) released final regulations on February 21, 2023, requiring organizations to electronically file specified returns and other documents. Organizations filing 10 or more IRS returns of any kind in aggregate will need to file almost all required returns electronically.

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Canopy Accounting

FEBRUARY 1, 2024

Income Tax Return for Estates and Trusts , documents the income an estate earns after the estate owner passes away. It’s also used to track income before any beneficiaries receive designated assets. In other words, Form 1041 is used to report the income, deductions, gains, and losses of an estate or trust.

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Menzies

APRIL 4, 2024

This date is expected to be around 19 th April 2024 (but is not confirmed). It is important to understand the value of your holding to anticipate any future tax liabilities or take advantage of losses. On the winding up of any mining businesses, we can advise you in respect of any potential tax reliefs available at this stage.

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Menzies

FEBRUARY 13, 2024

See our Spring Budget 2024 Predictions and Wish List for from our Private Client Team below. Income tax Tax Liabilities Given the increased interest rates, more taxpayers will be benefitting from increased interest on income. MTD for income tax MTD for income tax is set to be implemented from April 2026.

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Withum

JANUARY 31, 2024

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

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CPA Practice

MARCH 11, 2024

A small part of that can be explained by the calendar—last year’s tax season began a week earlier than this year—but the number of tax returns received and processed is only about 2% lower than this point in the tax season last year, according to the statistics. ©2024 Advance Local Media LLC. Visit masslive.com.

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Tax income tax tax return 119

CPA Practice

JANUARY 8, 2024

With the 2024 tax filing season starting later this month, the IRS is launching a special Tax Professional Awareness Week , from Jan. 8-14, 2024, to assist tax professionals on what to expect during the filing season and start the year on the right foot.

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CPA Practice

JANUARY 18, 2024

The IRS said on Thursday that tax-exempt groups won’t be able to e-file Form 990-T , Exempt Organization Business Income Tax Return , or Form 1120-POL , U.S. Income Tax Return for Certain Political Organizations , until March 17, 2024. An organization with a Form 990-T due from Jan.

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CPA Practice

JANUARY 29, 2024

Today marks the start of the long and grueling road ahead for CPAs and enrolled agents as the IRS has begun accepting 2023 federal income tax returns. So with that in mind, IRS Commissioner Danny Werfel had a message for all tax professionals as they embark on another filing season: Thank you.

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CPA Practice

SEPTEMBER 22, 2023

What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A Fewer IRS audits involving credits for taxpayers with lower incomes?

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CPA Practice

FEBRUARY 9, 2024

So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl LVIII kickoff time Before delving into IRS sports betting tax rules, it’s good to have the key details of the game. Super Bowl 2024 is on Sunday, Feb. Kansas City Chiefs +2 (-110).

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CPA Practice

FEBRUARY 12, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) A proposal to end federal tax on Social Security retirement benefits would provide relief for retirees as early as next year. That’s because, as the bill is worded, federal taxes on Social Security income would be eliminated beginning in 2025 (tax returns filed in early 2026).

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Nancy McClelland, LLC

FEBRUARY 24, 2024

Luckily, recent Congressional funding to make up for years of inadequate budgets, combined with Treasury Secretary Yellen’s direction that IRS priorities should include clearing the backlog of unprocessed tax returns and improving customer service, seem to be making a difference.

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CPA Practice

SEPTEMBER 25, 2023

15, 2024, to file their tax returns and make tax payments because of Hurricane Lee’s impact. The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA) , and all 16 counties in Maine and all 14 counties in Massachusetts qualify. 15, 2023, and Jan. 31, 2023, and Jan.

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Withum

FEBRUARY 26, 2024

Key Tax and Filing Requirements As we are still early in the new year, it is the right time for a refresher on several key tax and filing requirements happening in 2024. While claiming the credit on their own tax return is still an option for customers, it is not nearly as beneficial as the new advance payment option.

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Xero

MARCH 18, 2024

From April 2024, your sole trader and partnership clients will need to follow a tax year basis for Income Tax as part of HMRC’s Basis Period Reform. As outlined above, Basis Period Reform is a change to the reporting period used for Income Tax purposes. Why is the new basis period coming into place?

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CPA Practice

MARCH 12, 2024

A small part of that can be explained by the calendar—last year’s tax season began a week earlier than this year—but the number of tax returns received and processed is only about 2% lower than this point in the tax season last year, according to the statistics. ©2024 Advance Local Media LLC. Visit masslive.com.

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Tax income tax tax return 98

Menzies

JANUARY 7, 2024

If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below). I AM UNABLE TO PAY MY 31 JANUARY 2024 LIABILITY – WHAT SHOULD I DO? Congratulations!

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