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Professional tax help Chicago: Taxpayers Facing Tax Audits, Back Taxes, and 941 Payroll Tax Problems

MyIRSRelief

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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Top searched terms on Checkpoint Edge show a continued interest in the ERC

ThomsonReuters

According to our most recent analysis, some of the most searched terms within Checkpoint Edge are tax credits, Employee Retention Credit (ERC) , and the Inflation Reduction Act (IRA). Employers who file an annual payroll tax return can file an amended return using Form 944-X or 943-X to claim the credits.

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Boost Your Startup with the Revamped R&D Tax Credit: What You Need to Know

Shay CPA

The Inflation Reduction Act of 2022 has brought some significant amendments to the R&D Tax Credit, making it more accessible and beneficial for qualified small businesses (QSBs). The Basics The R&D Tax Credit, or IRC 41, offers taxpayers a credit against income tax for qualified research expenses (QREs).

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America’s Tax-Cut Era Has Outlasted Its Welcome

CPA Practice

accounted for 14.3% of all federal income taxes(1), up from 8.1% Over the same period, the group also enjoyed the largest decline in its average income-tax rate, to 25.7% This remains true, and profoundly relevant as policy makers consider what to do about a 2017 tax law that increased complexity while lowering revenue.

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The Benefits of Delayed Business Filings

CPA Practice

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. She is the CEO of CorpNet , the most innovative way to start a business, register for payroll taxes, and maintain business compliance across the United States.

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Managing stress for tax professionals

ThomsonReuters

Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Nearly 9 in 10 accountants want a better work-life balance, while just over 70 percent would like more help from their organizations to manage mental health, according to ACCA’s Global Trends Survey 2023.

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The IRS is Trying to Change the Way Businesses Report Tips

CPA Practice

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. The SITCA program will track tips automatically and doesn’t require a tax reporting commitment from employees.

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