Withum

NOVEMBER 21, 2024

To make the election, employees need to complete and sign Form 15620 and mail it to the IRS office where they file their federal income tax returns. If you have questions about the new section 83(b) election form, please reach out to your Withum tax advisor.

income tax

Accounting Today

JULY 28, 2025

You know, Im just doing a tax return or Im just doing this. Its really coming around to our internal employees and saying, "Its not just [a tax return], you are worth this." What youre doing is saving a family business or its improving the profitability of a business and so the value is there," she continued.

Technology

Withum

DECEMBER 4, 2024

This will permit the corporation to base its 2025 estimated income tax installment payments on the relatively small amount of income shown on its 2024 tax return, rather than having to pay estimated taxes based on 100% of its much larger 2025 taxable income. C corporation pays to add $0.94

Tax

MyIRSRelief

MAY 23, 2025

Your Complete Guide to Tax Help in San Diego, California: Frequently Asked Questions Expert Tax Resolution Services by Mike Habib, EA – Serving the Greater San Diego Metropolitan Area About Our San Diego Area Tax Services Q: Which areas does Mike Habib, EA serve in the San Diego metropolitan region?

California

Withum

MAY 8, 2025

For shareholders, nothing needs to be filed with the IRS until QSBS is sold and the shareholder claims an exclusion from gross income on his or her tax return that includes the year of the sale. Consider the source of the advice and the magnitude of your potential tax benefit before choosing the provider that is right for you.

Tax

MyIRSRelief

MARCH 29, 2024

In the bustling city of Whittier, California, businesses face a myriad of tax-related challenges that can significantly impact their operations and financial health. From business tax preparation to dealing with unpaid back taxes and navigating complex audits, the tax landscape can be daunting.

California

MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Call us today at 1-877-788-2937.

tax services

xendoo

JANUARY 17, 2022

As a business owner, how do you go about filing personal and business taxes with the IRS? The answer to this question actually depends on the way your business is structured, so there’s not a one-size-fits-all approach to filing small business taxes. Are Business Taxes and Personal Taxes FiledTogether?

business tax

xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

business tax

xendoo

NOVEMBER 9, 2021

With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . Individual tax returns are due by April 18, 2022. Deductions.

business tax

Withum

JUNE 1, 2022

Some businesses might fall under this exception if their gross receipts were severely impacted during the 2020 and 2021 taxable years due to the pandemic. Under the various safe harbor proposals, the amendment of a prior return would not be necessary. Business Tax Services. Contact Us. Contact Us.

business tax

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

Withum

AUGUST 14, 2024

The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.

South Carolina

Withum

JANUARY 12, 2023

These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. For more information on this topic, please contact a member of Withum’s State and Local Tax Services Team. Contact Us. Let’s Chat.

California

MyIRSRelief

JUNE 23, 2023

Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS). In this article, we will delve into the world of enrolled agents, explore their role in tax services, and understand the vast array of expertise they bring to the table. Contact us for professional tax help today!

Tax

Withum

OCTOBER 6, 2022

Under section 7508A, the IRS gives affected taxpayers until February 15, 2023, to file most tax returns with either an original or extended due date occurring on or after September 23, 2022. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Contact Us.

Government

MyIRSRelief

DECEMBER 15, 2022

Our Los Angeles tax preparation service is the process of preparing and filing tax returns for individuals or businesses. Tax preparation services can be provided by a variety of professionals, including Certified Public Accountants (CPAs), enrolled agents (EAs), and tax attorneys.

tax accountant

Going Concern

APRIL 5, 2024

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.

tax preparation

Withum

MAY 19, 2022

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allowed taxpayers to defer the employer’s share of Social Security taxes and certain self-employment taxes, which for most employers were reported on Form 941 ( Employer’s Quarterly Federal Tax Return ). Business Tax Services.

Tax

Withum

JANUARY 13, 2022

From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

Tax

Withum

JUNE 27, 2022

Apparently, they failed to file tax returns and to pay taxes for four years starting in 2013, despite allegedly earning millions from their TV show and other ventures. Business Tax Services. For more information on this topic, please contact a member of Withum’s Business Tax Services team.

West Virginia

Withum

FEBRUARY 27, 2023

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. 16 deadline also applies to 2023 estimated tax payments, normally due on April 18, June 15 and Sept.

California

Withum

JULY 28, 2022

Most likely, the IRS will focus on eligibility, the ERC calculation, and whether the taxpayer amended its income tax returns to pay tax on the ERC. Within these broad categories, however, there are many areas where businesses can trip up. For example, did the business apply the aggregation rules properly?

audit

xendoo

JANUARY 31, 2022

In the past, although all business owners were required to report their earnings on their Federal Tax Returns , only those who received payments of $20,000 or more through payment apps also reported their earnings using Form 1099-K. Recently, that rule was changed and will affect a larger pool of business owners going forward.

bookkeeping

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

Withum

OCTOBER 19, 2022

The IRS is also concerned that these third parties “may not inform taxpayers that wage deductions claimed on the business’ federal income tax return must be reduced by the amount of the credit.”. For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

income tax

Withum

MARCH 24, 2022

Mr. Kocemba was not paid for any of those services, and he later married the shareholder’s daughter. On its corporate income tax return, the taxpayer claimed a business expense deduction for the cost of Mr. Kocemba’s tuition for the computer coding course. Business Tax Services. Contact Us.

income tax

Withum

SEPTEMBER 1, 2023

The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period. Affected individuals and businesses therefore will have until February 15, 2024 to file tax returns and to pay any taxes that were originally due during the postponement period.

Tax

xendoo

JANUARY 31, 2022

The IRS Schedule C is used by sole proprietors and single-owner LLCs to report your small business taxes and is part of your personal tax return. We understand that business taxes can seem confusing, if not overwhelming. Instead, the profits from your business go directly to you, the owner.

tax preparation

xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

business tax

Withum

MARCH 29, 2022

You can rest assured knowing that you haven’t been committing tax fraud all these years by excluding your birthday and holiday gifts from your tax return. Business Tax Services. If you have questions regarding the taxability of your crowdfunding efforts, reach out to your Withum tax advisor.

tax return

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

business tax

Withum

JUNE 8, 2022

The Notice identifies an additional 101 taxable substances that are subject to the excise tax and requires reporting on Form 6627 , relating to Environmental Taxes, which is attached to Form 720 , the quarterly Federal excise tax return. Business Tax Services. poly(propyleneoxy)glycerol. formic acid.

Tax

Withum

NOVEMBER 14, 2022

The taxpayer properly elects deferral by making an election on or before the due date (including extensions) for filing the tax return for the year in which the QSBS is sold. The taxpayer thus failed to properly elect deferral under section 1045 on his/her timely filed tax return (including extensions). Contact Us.

tax return

MyIRSRelief

OCTOBER 18, 2021

If you’re income is considered to be, on the whole, in the low or moderate region, this tax credit is likely aimed at you. If you are eligible, it is certainly worth contacting a professional tax service to help you claim the credit because it is a good one. Business Tax Credits. Energy credits.

Tax

MyIRSRelief

APRIL 22, 2024

Compliance with Tax Filings: All tax returns must be filed. The process involves submitting an application to the IRS with a detailed explanation of your financial situation, often with the help of a tax professional. How Can I Resolve Unfiled Tax Returns in Corona, CA? What should I do? What should I do?

Tax

Withum

JUNE 24, 2022

The IRS is expected to begin auditing ERC claims in the coming months and it has 3 years from the filing date of the relevant Form 941 tax return to assert deficiencies, and 5 years in the case of ERC claims for the third and fourth calendar quarters of 2021 ( see §3134(l) ). Business Tax Services. Contact Us.

Tax