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IRS Starts Accepting Returns and Extends Hours at Tax Assistance Centers

CPA Practice

These extra hours are in addition to the IRS opening or reopening 50 Taxpayer Assistance Centers that have occurred since Inflation Reduction Act funding became available in 2022. Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information.

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CPE Webinar September 12, 2023: Cybersecurity for the Tax Practitioner

CPA Practice

Jared Ballew, 2022-23 Chair of the ETAAC and Vice President of Government and Industry Relations at Taxwell; and Ann Campbell, CPA CIA and Drake Software Trainer will share an overview of the cyber threats that taxpayers and tax professionals face daily. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer.

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How to Lower Your Taxable Income and Pay Less in Taxes

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If you’re wondering how to pay less in taxes, you’re not alone. Everyone—from individuals to business owners—wants to know how to lower their taxes. Tax laws are complicated and they can change each year. Our tax accountants know all the tax breaks for business owners and how to leverage them.

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HMRC Business Enquiry/ HMRC Corporate Enquiry

Accounting Insight

The CCM’s role is to develop an open and cooperative collaboration between the business and HMRC, to address any tax compliance risks in real-time. The CCM seeks to gain insights into the business’ tax risk strategy, profile and sector; including assessing the appropriateness of the tax accounting arrangements.

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20 Small Business Tax Deductions You Need to Know

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A tax deduction and tax credit can both save you money on taxes, but they are different terms. . Tax deductions can lower the amount of taxable income. For example, tax brackets–a range of annual income–are used for income tax. For 2022, the mileage rate is.585 56 cents per mile.

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What Happens if a Business Doesn’t File Taxes?

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Your tax status – Tax-exempt organizations and non-profits have different filing deadlines than for-profit businesses. The type of return you’re filing – Different returns, including IRS Form 1120 for corporation income tax, have different deadlines. The rate for overpayment of taxes is 5% per year.

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