RogerRossmeisl

FEBRUARY 20, 2023

Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations. That’s understandable because your 2022 individual tax return is due to be filed in 10 weeks (unless you file an extension). I didn’t qualify to itemize deductions on my last tax return.

Tax 245

Tax tax return CPA 245

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

CPA Practice

FEBRUARY 24, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb. compared to last year.

tax return 130

tax return Tax income tax 130

Ronika Khanna CPA,CA

APRIL 19, 2024

Residents of Canada are required to reflect all sources of worldwide income on their personal tax returns. If you do make a withdrawal during the year, you will receive a T4RSP slip which is to be reported on your tax return. Tax Slip: Boxes 10, 11 and 12 of the T5 Slip.

tax return 98

tax return Tax Real Estate accounting and finance 98

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

CPA Practice

FEBRUARY 20, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb. compared to last year.

tax return 98

tax return Tax income tax 98

RogerRossmeisl

FEBRUARY 18, 2024

But if you don’t receive such a letter, can you still claim a deduction for the gift on your 2023 income tax return? What the law requires To prove a charitable donation for which you claim a tax deduction, you must comply with IRS substantiation requirements. It depends.

income tax 189

income tax tax return CPA Tax 189

CPA Practice

AUGUST 7, 2023

Taylor, Kiplinger Consumer News Service (TNS) Does the order of names on your joint federal income tax return reveal significant things about you and your partner? A recent study suggests the answer could be yes—that tax return name order may hold some clues about social norms and beliefs. By Kelley R. of the time.

tax return 98

tax return income tax Tax audit 98

RogerRossmeisl

APRIL 17, 2024

April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations, pay the first installment of 2024 estimated income taxes. Complete and retain Form 1120-W (worksheet) for your records.

Tax 189

Tax income tax tax return CPA 189

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

FEBRUARY 19, 2024

By Joy Taylor, Kiplinger Consumer News Service (TNS) If you made a qualified charitable distribution (QCD) from your IRA in 2023, reporting it on your 1040 or 1040-SR can be tricky. Individuals 70½ and older could transfer up to $100,000 in 2023 from a traditional IRA directly to charity.

tax return 98

tax return Tax Washington Start-ups 98

CPA Practice

DECEMBER 19, 2023

Some of the standouts for December 2023 are described below. Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. to $250 effective July 1, 2023.

South Carolina 111

South Carolina Tax Florida tax return 111

Withum

APRIL 3, 2024

Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Can still be deducted in the 2023 tax years if the return is not filed… Who Are the Ideal Candidates?

income tax 98

income tax Tax tax return 98

CPA Practice

APRIL 8, 2023

Updated: April 8, 2023: 7:41 pm ET. 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. T he Tax Deadline is April 18, 2023?

income tax 115

income tax Tax tax return Massachusetts 115

CPA Practice

OCTOBER 17, 2023

In a Direct File report the IRS submitted to Congress on May 16, as required by the Inflation Reduction Act, 72% of American taxpayers surveyed said they were “very interested” in or “somewhat interested” in using a government tool to electronically file their tax returns.

tax return 116

tax return Tax South Dakota tax preparation 116

CPA Practice

JANUARY 12, 2023

The 2023 tax-filing season will open on Jan. 23—the day in which the IRS will begin accepting and processing 2022 tax year returns, the agency said on Thursday. Taxpayers have three extra days to file in 2023 due to the calendar. Taxpayers have three extra days to file in 2023 due to the calendar.

tax return 133

tax return income tax Tax Washington 133

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-51 4/17/2023 After someone with a filing requirement passes away, their surviving spouse or representative should file the deceased person’s final tax return. On the final tax return, the surviving spouse or representative should note that the person has died.

tax return 130

tax return income tax CPA Tax 130

CPA Practice

OCTOBER 16, 2023

This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

South Carolina 111

South Carolina income tax Georgia Vermont 111

CPA Practice

FEBRUARY 24, 2023

24, 2023: 4:41 pm ET. It’s almost March, and the 2023 tax filing season is well under way. 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. T he Tax Deadline is April 18, 2023?

income tax 98

income tax Tax tax return Massachusetts 98

CPA Practice

JANUARY 30, 2023

Updated: January 8, 2023: 11:01 pm ET. Let’s talk about tax refunds… and when taxpayers might get theirs in 2023. This has been the top question we get for more than 10 years: “ When will I get my tax refund? ” Will the 2023 tax filing season be normal? T he Tax Deadline is April 18, 2023?

income tax 105

income tax Tax tax return Massachusetts 105

LSLCPAs

MARCH 28, 2024

These contributions are due by the first due date of personal tax returns, so April 15th for most of the country. IRA and Roth Contributions The allowable 2023 contribution amount is $6500. The post Time Sensitive Opportunities Regarding IRAs: 2023 IRA and HSA Contribution Deadlines appeared first on LSL CPAs.

tax return 59

tax return cpas Tax Account 59

CPA Practice

JANUARY 26, 2023

Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Employers must also provide copies B, C and 2 of Form W-2 to their employees by January 31, 2023. and their payroll tax returns (Forms 941, 943, 944, etc.)

payroll tax 128

payroll tax tax return income tax payroll 128

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?

Tax 202

Tax Massachusetts income tax tax return 202

CPA Practice

AUGUST 22, 2023

The Internal Revenue Service is reminding large trucks and bus operators with a taxable gross weight of 55,000 pounds or more to e-file Form 2290, Heavy Highway Vehicle Use Tax Return (PDF), by the Aug. 31, 2023, payment deadline for vehicles first used in July 2023.

Tax 96

Tax tax return income tax 96

RogerRossmeisl

MARCH 5, 2024

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be an opportunity to lower it. For 2023, The post If You Didn’t Contribute to an IRA Last Year, There’s Still Time appeared first on Roger Rossmeisl, CPA.

tax return 165

tax return CPA Tax 165

CPA Practice

OCTOBER 2, 2023

This is often necessary for taxpayers who are still waiting on some documents before they can file their returns. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

South Carolina 124

South Carolina Tax income tax Georgia 124

Dent Moses

MAY 30, 2023

In most cases, the IRS can audit, propose adjustments, and assess additional tax up to 3 years after the later of (a) the date a return was filed, or (b) the original due date. For example, assume your 2022 individual tax return was filed on April 11, 2023, a week before the due date of April 18, 2023.

tax return 52

tax return Tax audit Sales 52

RogerRossmeisl

NOVEMBER 6, 2023

The exclusion amount for 2023 is $17,000. Therefore, a taxpayer with three children can transfer $51,000 to the children this year free of federal gift taxes. If the only gifts made during a year are excluded in this fashion, there’s no need to file a federal gift tax return.

Tax 279

Tax tax return CPA 279

Cherry Bekaert

OCTOBER 10, 2023

Iowa On September 29, 2023, the Iowa Department of Revenue announced that the 2022 Pass-Through Entity (PTE) Tax election and 2022 PTE Tax Form are available through GovConnectIowa. North Carolina On October 3, 2023, House Bill 259 (Session Law 2023-134) , North Carolina’s 2023 budget bill, was enacted.

Iowa 104

Iowa North Carolina Virginia Tax 104

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. The IRS issued Notice 2023-21 on Feb.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday.

California 246

California Tax tax return CPA 246

CPA Practice

FEBRUARY 15, 2024

Because the 2023 filing season began on Jan. 23, the IRS had been receiving returns for 12 days by Feb. 3, 2023; compared to only five days for the 2024 filing season, which opened on Jan. In addition, the average refund amount is $1,395, down about 29% from this time last year. 29,” the IRS said last Friday.

tax return 102

tax return Tax 102

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-61 on 5/3/2023 Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. There are a few other.

tax return 130

tax return CPA Tax Sales 130

RogerRossmeisl

JANUARY 12, 2023

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

California 246

California Tax tax return CPA 246

CPA Practice

APRIL 15, 2024

Through April 6, the IRS processed more than 100 million individual tax returns, and the agency expects tens of millions more will come in advance of today’s filing deadline. increase from 2023. This is down from four minutes in 2023 and 28 minutes during the 2022 filing season. million calls in 2023.

Tax 119

Tax tax return Maine Massachusetts 119

RogerRossmeisl

AUGUST 6, 2023

It allows contributions to be made for a spouse who is out of work or who stays home to care for children, elderly parents or for other reasons, as long as the couple files a joint tax return. Benefits of an IRA As you may.

tax return 245

tax return CPA Tax 245

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. 15, 2023, and Jan.

Washington 98

Washington Tax tax return income tax 98