CPA Practice

MARCH 12, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate.

tax return 111

tax return Tax Washington tax planning 111

DMCL

MARCH 11, 2022

Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported.

income tax 52

income tax tax return Tax 52

CPA Practice

MARCH 11, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate.

tax return 85

tax return Tax Washington tax planning 85

Nancy McClelland, LLC

MARCH 29, 2022

To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.

tax return 86

tax return Tax tax preparation CPA 86

CPA Practice

JUNE 15, 2023

The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, according to a new report from the Treasury Inspector General for Tax Administration. 105 taxpayers didn’t receive all of their eligible child tax credit, estimated at $139,000. This process uncovered 3.8

Tax 131

Tax tax return tax accountant Technology 131

Withum

APRIL 12, 2022

The tax due date for most individual tax returns this year is April 18. If you are unable to complete your return to file by April 18, you can file for an extension to submit your return by October 17. However, the extension does not cover the payment of the tax due.

tax return 105

tax return Tax audit tax preparation 105

RogerRossmeisl

FEBRUARY 24, 2021

Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than two months (unless you file an extension). Below are some Q&As about tax amounts for this year.

Tax 181

Tax tax return CPA 181

xendoo

JANUARY 25, 2021

(for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year). March 15 Submit Form 1065 Income Tax Return. C Corporation Tax Filing. for a calendar tax year). April 15 Submit Form 1120 Income Tax Return.

Tax 98

Tax income tax tax return corporation tax 98

Xero

JUNE 16, 2022

So, to help small businesses in need of a little respite, we’re excited to announce that Xero’s Emotional Tax Return competition is back for 2022! . By inviting you – small business owners (that’s advisors too) – to submit an Emotional Tax Return claim. These factors have all taken a toll on wellbeing.

tax return 86

tax return Tax bookkeeping 86

Cherry Bekaert

APRIL 21, 2023

The Internal Revenue Service (IRS) recently released Notice 2023-21 clarifying how the postponed tax return filing deadlines in 2020 and 2021 affect amended return filings. In April 2020, the IRS issued Notice 2020-23 , which postponed certain 2019 federal tax return filing and payment deadlines until July 15, 2020.

tax return 63

tax return Tax 63

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. holidays impact tax deadlines for everyone in the same way federal holidays do. By law, Washington, D.C.,

tax return 75

tax return Tax Washington 75

RogerRossmeisl

APRIL 21, 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. Corporations pay the first installment of 2022 estimated income taxes.

Tax 245

Tax income tax tax return CPA 245

TaxConnex

JANUARY 21, 2021

If your online company looks to expand its interstate sales in 2021, know one thing: Your plan involves risks and new responsibilities. The key is learning how to manage both, as sales tax non-compliance or errors can bring stiff penalties. You’re not alone. Risks of hiring – especially now. The potential for growth is huge.

Sales 141

Sales Tax tax return audit 141

RogerRossmeisl

JUNE 3, 2021

Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year). Your 2021 return will be due in April of 2022.

Tax 246

Tax tax return CPA 246

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 Tax E-commerce 52

CPA Practice

APRIL 18, 2024

On Tuesday, Thioub was indicted by a federal grand jury sitting in Boston on three counts each of filing false tax returns and filing false tax returns as an employee of the United States, counts for which she was originally charged by criminal complaint and arrested on March 20.

Tax 92

Tax tax return Massachusetts audit 92

CPA Practice

APRIL 9, 2024

But people should be careful with who they’re following on social media for tax advice. Unlike hacks to fix a leaky kitchen sink or creative makeup tips, people shouldn’t rely on made-up ways on social media to patch up their tax return and boost their refund,” he added. There are two other variations of the W-2 scheme.

Tax 116

Tax tax return tax preparation payroll 116

RogerRossmeisl

JANUARY 11, 2022

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. However, it’s a good idea to acquaint yourself with tax amounts that may have changed for 2022.

Tax 244

Tax tax return CPA 244

ThomsonReuters

DECEMBER 22, 2021

The IRS has released Form 2441 (Child and Dependent Care Expenses) and its accompanying instructions for the 2021 tax year. The 2021 form and instructions have been updated, primarily to reflect temporary changes under the American Rescue Plan Act of 2021 (ARPA) and the Consolidated Appropriations Act, 2021 (CAA).

tax return 105

tax return Tax Account accountant 105

ThomsonReuters

APRIL 1, 2021

IRS Notice 2021-21 (Mar. 29, 2021); IRS News Release IR-2021-67 (Mar. In response to the continuing COVID-19 emergency, the IRS has offered deadline relief for 2020 federal income tax returns that also extends the deadline for 2020 contributions to HSAs, IRAs, and certain other accounts. Tax Return Preparers.

income tax 52

income tax tax return Tax Education 52

RogerRossmeisl

DECEMBER 14, 2021

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick strategies that may help you trim your taxes before year-end. Certain tax deductions are claimed for the year of payment, such as the mortgage interest deduction.

Tax 240

Tax tax return CPA tax planning 240

RogerRossmeisl

NOVEMBER 29, 2021

Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses A pre-tax contribution of $2,750 to a health FSA is permitted in 2021.

Account 228

Account accountant accounted tax return 228

CPA Practice

MARCH 5, 2024

The payments went out in 2021 and 2020. But you have to file a tax return to claim the credit, even if your income was minimal or non-existent, according to the IRS. If you’re looking to claim the rebate credit for 2020, you have until May 17, 2024 to file a return. For the 2021 credit, you have until April 15, 2025.

tax return 111

tax return Legal Tax 111

ThomsonReuters

FEBRUARY 3, 2022

IRS Publication 502 (Medical and Dental Expenses (for 2021 Returns)); IRS Publication 503 (Child and Dependent Care Expenses (for 2021 Returns)). The IRS has released updated versions of Publications 502 and 503 for the 2021 tax year. 1 (“Only Code § 213 Medical Care Receives Favorable Tax Treatment”).

income tax 96

income tax tax return Tax Account 96

RogerRossmeisl

NOVEMBER 17, 2021

But for 2021 under a COVID-19 relief law, you’re allowed to claim a limited deduction on your tax return for cash contributions made to qualifying charitable organizations. This deduction increases to $600 for a married couple filing jointly in 2021.

tax return 209

tax return CPA Tax 209

CPA Practice

MAY 24, 2023

For the 2023 filing season, the IRS is using 236 identity theft filters compared to the 168 filters it used during the 2022 tax season. Tax returns identified by these filters are held during processing until the IRS can verify the taxpayer’s identity. million tax returns with refunds totaling approximately $6.3

tax return 111

tax return Tax Start-ups 111

CPA Practice

MARCH 1, 2024

The Internal Revenue Service has announced a new effort focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017. The IRS is taking this step to address this most basic form of non-compliance, which includes many who are engaged in tax evasion.

tax return 115

tax return Tax audit income tax 115

Withum

MARCH 7, 2024

Should I File a Protective Income Tax Refund Claim? Taxpayers that claimed the ERC are obligated to amend their 2020 or 2021 tax returns, as applicable, to reduce their wage expense deductions by the amount of ERC claimed in each year. To prevent this, taxpayers can file a protective income tax refund claim.

Tax 126

Tax income tax tax return audit 126

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 229

income tax tax return CPA Tax 229

LyfeAccounting

JANUARY 30, 2021

?. Tax season 2021 is here! And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on.

Tax 52

Tax tax return bookkeeping bookkeeping services 52

xendoo

NOVEMBER 1, 2021

In other words, if your home office doubles as a nursery or workout room, you’ll likely be unable to claim it as a deduction on your tax return. If you use the simplified option for claiming tax deductions, the IRS permits you to deduct $5 per square foot of office space. per mile as of 2021. Train or subway tickets.

Tax 95

Tax Transportation tax return bookkeeping 95

CPA Practice

FEBRUARY 29, 2024

tool provides taxpayers with three key pieces of information: IRS confirmation of receiving a federal tax return, approval of the tax refund and issuing date of the approved tax refund. Information for returns from tax years 2023, 2022 and 2021 is available. Four weeks after mailing a paper return.

tax return 85

tax return income tax Tax Account 85

CPA Practice

MAY 23, 2023

For the 2023 filing season, the IRS is using 236 identity theft filters compared to the 168 filters it used during the 2022 tax season. Tax returns identified by these filters are held during processing until the IRS can verify the taxpayer’s identity. million tax returns with refunds totaling approximately $6.3

tax return 98

tax return Tax Start-ups 98

Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns).

tax return 128

tax return corporation tax Tax tax services 128

CPA Practice

APRIL 1, 2024

Since 2021, the American Institute of CPAs (AICPA) has spoken out against unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims. A key warning sign that businesses should be aware of are vendors that require large contingency fees and/or fail to sign the amended payroll tax returns.

cpas 114

cpas payroll tax tax return payroll 114

SkagitCountyTaxServices

MAY 19, 2021

With the last minute legislative changes, software update delays, and IRS service issues — this very well might have been the most disrupted and difficult tax season in decades. But despite an exhausting tax season, we’re never done, and we’re always here for YOU – including for a business tax return review.

tax return 40

tax return business tax Tax Management Consulting 40

RogerRossmeisl

MARCH 14, 2021

If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing date and benefit from the tax savings on your 2020 return.

tax return 246

tax return CPA Tax 246