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IRS Gives Tax Relief Extension to Spokane, Washington, Area Taxpayers Affected by Fires

CPA Practice

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. 31, 2023, and Jan.

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

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.

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7 steps for an accurate and successful corporate tax return filing

ThomsonReuters

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. When are corporate tax returns due?

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Texans Get Tax Relief From the IRS After Hurricane Beryl

CPA Practice

The IRS said this week that individuals and businesses in 67 Texas counties affected by Hurricane Beryl now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept. 16, 2024, and Jan.

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Is Tax Relief on the Horizon for Marijuana Businesses?

CPA Practice

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.

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IRS Waving $1 Billion in Back Tax Penalties for More Than 4.7 Million Taxpayers

CPA Practice

The IRS stresses that the $100,000 limit applies separately to each tax return and entity. All contents copyright 2023 The Kiplinger Washington Editors Inc. Distributed by Tribune Content Agency LLC.

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Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon. This article dives deep into the critical role of tax professionals for small businesses.

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