article thumbnail

IRS Tax Representation Help in Connecticut

MyIRSRelief

Our tax firm assists, helps and represents taxpayers facing tax problems such as unfiled tax returns, unpaid delinquent back taxes, IRS and state audits , payroll 941/940 problems, tax levies, liens, garnishments and other collection issues. Get tax relief representation and complete resolution today!

article thumbnail

S Corporations and State Income Taxes

Cherry Bekaert

S corporations are corporations that elect to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed at their individual income tax rates.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NYU School of Professional Studies Presents 42nd Annual Institute on State and Local Taxation on December 11-12 in NYC

CPA Practice

Ethical Challenges Associated With Tax Filings A client or colleague messes up a tax return, failed to timely file a return, or perhaps needs to correct a return previously filed. The Tri-State Panel A lively discussion of current key topics with state tax officials from New York, New Jersey, and Connecticut.

article thumbnail

Tax Savings for Accountants with Gambling Clients

CTP

Filing taxes as a “pro gambler” for tax benefits without completing these qualifications can invite IRS scrutiny. If audited by the IRS, thorough records and logs may help your clients prove their professional gambler status. Provide supportive documentation for audited sessions.

Gambling 105
article thumbnail

Friday Footnotes: The Profession vs. Gen Z; CPA Firms Get Back to the Office; Deloitte Quits | 6.23.23

Going Concern

Audit “When you are a hammer, the world is a nail” – SEC and PCAOB Senior Staff Signal Increased SEC and PCAOB Gatekeeper Enforcement [ Lexology ] SEC Enforcement and PCAOB Enforcement both are pursuing more significant sanctions against auditors, particularly with respect to civil money penalties. 31 is still not finished.

article thumbnail

What is state tax apportionment and how do you calculate it?

ThomsonReuters

The only type of business that must pay state income tax the way an individual does is a traditional corporation, otherwise known as a C corporation or C corp. This is because C corps are considered taxable entities; they are required to file state tax returns separate from the personal returns filed by their owners and employees.

article thumbnail

Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

As the accounting industry continues to move away from commoditized audit and tax services to value-based delivery of holistic business solutions, technology is key to enhancing this value through increased efficiencies and heightened support of our role as trusted business advisors. Trump business got at least $7.8